Dundee Corporation has released its financial results for the first quarter of 2025, reporting net earnings attributable to owners of the Corporation of $24.5 million, a significant increase from $7.2 million in the same period of 2024. This translated to earnings per share on a diluted basis of $0.25, compared to $0.07 per share in the first quarter of the previous year. The mining investments segment delivered net earnings before taxes of $29.8 million, up from $9.3 million in the first quarter of 2024. This was driven by investment gains in Ausgold Limited and Greenheart Gold Inc., with reported gains of $4.5 million and $3.8 million, respectively. Additionally, the sale of Dundee's remaining shares in G Mining Ventures Corp. generated net proceeds of $45.3 million, contributing to a $14.2 million investment gain. In terms of operational updates, Dundee completed the sale of its interest in Android Industries, LLC for cash proceeds of approximately $24.5 million, with additional proceeds expected contingent upon escrow releases. The transaction is anticipated to close in the second quarter of 2025. However, the Corporation's mining services segment faced challenges, posting a pre-tax loss of $1.7 million, compared to a $1.2 million loss in the same quarter last year. The corporate and others segment also reported a pre-tax loss of $4.1 million, up from a $0.4 million loss in the first quarter of 2024. Overall, Dundee Corporation's performance this quarter was underscored by strategic investment gains and operational transactions, offset by losses in certain segments.
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