Bunker Hill Mining Corp. Reports $6.35 Million Net Loss in Q1 2025

Bunker Hill Mining Corp. reported a net loss of $6.35 million for the first quarter of 2025, compared to a loss of $5.58 million during the same period in 2024. The company did not generate any revenue in either quarter. Operating expenses decreased to $2.91 million from $3.79 million year-over-year, primarily due to reduced construction activity at the process plant. The loss for the current quarter was significantly impacted by a $6.07 million loss on the revaluation of a silver loan, which was not present in the previous year.

Total assets increased to $102.93 million as of March 31, 2025, up from $97.60 million at the end of 2024. This rise was attributed to investments in the process plant and improvements at the Bunker Hill Mine, despite a decrease in cash reserves. Current assets fell to $6.81 million from $9.33 million, reflecting cash expenditures on ongoing projects. The company’s total liabilities also rose to $158.20 million, driven by an $11 million drawdown on a debt facility and a $3.1 million increase in the Teck promissory note.

Bunker Hill Mining is focused on the development of its 100% owned Bunker Hill Mine in Idaho, which has a historical production record of over 165 million ounces of silver. The company is currently in the process of upgrading its facilities and conducting exploration drilling to expand its mineral resources. As part of its strategic initiatives, Bunker Hill is pursuing a debt restructuring and an equity financing plan, which includes a potential $45 million equity offering and a $10 million standby facility agreement.

The company’s working capital deficit stood at $18.17 million as of March 31, 2025, slightly improved from $20.31 million at the end of 2024. Shareholders’ deficiency increased to $55.28 million, reflecting the net loss for the quarter. Bunker Hill has indicated that it requires additional financing to meet its operational obligations and continue its development plans, raising concerns about its ability to continue as a going concern without securing the necessary funds.

Looking ahead, Bunker Hill Mining is optimistic about the potential for domestic critical mineral production, particularly in light of U.S. government initiatives aimed at bolstering the supply chain for essential materials like zinc, lead, and silver. The company is actively monitoring regulatory developments and is positioned to capitalize on opportunities that may arise from these initiatives. However, the successful execution of its financing and restructuring plans remains critical to its future operations.