Cerro de Pasco Resources unveils concluded financial results for the 2025 fiscal year, along with significant strategic milestones achieved during the same period.
Cerro de Pasco Resources Makes Significant Progress on Quiulacocha Tailings Project
Cerro de Pasco Resources Inc. (CDPR) has made substantial strides in its focus on advancing the Quiulacocha Tailings Project, following the sale of non-core assets and fiscal improvements in 2025.
The Peruvian mining company, which is primarily focused on the development of the El Metalurgista mining concession, reported a net income of $24.6 million for the year ended March 31, 2025, and a cash balance of $11.5 million. The company's positive working capital stood at $6.3 million, further solidifying its financial position to support project development.
One of the significant milestones achieved by CDPR was the reduction of significant liabilities. This was evident in the full settlement of the convertible debenture and promissory note, as well as the sale of the Santander mine operations in August 2024, which eliminated over $70 million in associated liabilities. The $35.9 million gain from the sale of Santander allowed CDPR to streamline its operations, sharpening the company’s strategic focus.
In May 2024, CDPR signed an easement agreement with Activos Mineros S.A.C., enabling engineering work and a 40-hole drilling program at Quiulacocha. This agreement was supported by a $1 million payment to the Peruvian National Bank.
The mining concession, located in central Peru, is one of the world's largest above-ground metal resources. CDPR's strategy involves the reprocessing and environmental remediation of historic mining waste at Quiulacocha, with the goal of unlocking value while supporting sustainable development.
Looking ahead, CDPR is advancing technical, environmental, and permitting activities at Quiulacocha, with the primary focus on delivering the Preliminary Feasibility Study (PFS) and unlocking near-term development milestones. The company's recent listing on the Lima Stock Exchange (July 2025) is expected to increase liquidity and support ongoing efforts at the project site near Cerro de Pasco city.
Between April and July 2025, approximately $4.1 million was generated from the exercise of warrants and stock options. CDPR raised over $17 million through private placements, further strengthening its capital structure. However, no new facts were provided about fundraising activities or warrant and option exercises.
CDPR's earnings per share (basic and diluted) were $0.06. The company's shareholders' equity stood at $6.7 million. The El Metalurgista mining concession consists of silver-rich mineral tailings and stockpiles, making it a promising asset for CDPR's future growth.
In summary, following the sale of non-core assets and fiscal improvements in 2025, Cerro de Pasco Resources is well-capitalized, strategically re-focused, and actively progressing with a comprehensive development program for the Quiulacocha Tailings Project. The company's goal is to unlock value while supporting sustainable development, making it an exciting player to watch in the Peruvian mining sector.
The news of Cerro de Pasco Resources' advancements on the Quiulacocha Tailings Project has been making waves in the Canadian media, given the positive financial implications for the company.
With its headquarters in Toronto, Cerro de Pasco Resources has been able to solidify its financial position, thanks to the sale of the Santander mine operations and the listing on the Lima Stock Exchange, respectively in 2024 and 2025.
CDPR's primary focus has shifted from mere mining to environmental remediation, as indicated by its work on the Quiulacocha Tailings Project, aiming to establish sustainable development in Canada and Peru.
As the company moves forward, it is expected to adhere to environmental laws and regulations, ensuring its activities at the Quiulacocha site are both financially profitable and environmentally responsible.
