Trekor Metals Crushes Q2 with Record Copper Prices and Revenue

Trekor Metals (NYSE: TGB) has reported its second quarter financial results, driven by strong copper production and revenue. The company achieved $125 million in Adjusted EBITDA, a significant increase from the same period last year.

Copper prices have been on the rise, reaching a record high during the quarter. Trekor's Gibraltar operation produced 30.3 million pounds of copper, while Florence Copper produced 5.2 million pounds. The company sold 32.2 million pounds of copper at an average price of $6.10 per pound.

Trekor's cash balance stood at $186 million as of June 30, with total available liquidity of $342 million. The company has reported a net income of $22.2 million and Adjusted EBITDA of $125.1 million for the quarter.