Bunker Hill Mining Corp. Reports $20.5 Million Net Income Turnaround in Q2 2025

Bunker Hill Mining Corp. reported significant financial developments in its latest 10-Q filing for the quarter ending June 30, 2025. The company achieved a net income of $20.5 million for the quarter, a substantial turnaround from a net loss of $3.9 million in the same period last year. This improvement was primarily driven by a gain on debt settlement related to a stream debenture amounting to $29.6 million, alongside a favorable change in derivative liabilities. For the first half of 2025, Bunker Hill recorded a net income of $14.1 million, compared to a loss of $9.5 million in the prior year.

Total operating expenses for the second quarter decreased to $3.1 million from $4.2 million year-over-year, reflecting reduced construction activity at the Bunker Hill Mine. For the six-month period, operating expenses also fell to $6.0 million from $7.9 million, indicating a trend of cost management as the company progresses with its development plans. The company reported no revenue during both the three and six months ended June 30, 2025, consistent with its pre-production status.

In terms of strategic developments, Bunker Hill has made significant strides in its capital structure. The company completed a major capital restructuring, which included a brokered and non-brokered private placement that raised approximately $26.7 million. This funding is earmarked for the ongoing construction and operational ramp-up of the Bunker Hill Mine, which is expected to commence production in 2026. The company also executed a series of debt settlements, including the repayment of a $6 million principal on the Sprott debt facility through the issuance of common stock.

Operationally, Bunker Hill's total assets increased to $116.6 million as of June 30, 2025, up from $97.6 million at the end of 2024. This growth was attributed to the influx of capital from equity financing and debt restructuring. Current liabilities decreased significantly to $12.2 million from $29.6 million, primarily due to the repayment of debts and a reduction in accounts payable. The company’s shareholders' equity improved to $28.8 million, a notable recovery from a deficiency of $52.1 million at the end of 2024.

Looking ahead, Bunker Hill Mining Corp. remains focused on advancing the Bunker Hill Mine project, which is currently 66% complete. The company plans to continue its mineral resource expansion and exploration drilling program to support its staged restart plan. However, the company has expressed concerns regarding its ability to meet future financial obligations without securing additional financing, raising questions about its long-term sustainability. The management's outlook emphasizes the importance of generating profitable operations and obtaining necessary funding to support ongoing development efforts.