Dundee Corporation Delivers Strong 2025 Results; Advances Mining Strategy Through Monetizations and Capital Repositioning
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Or sign-in if you have an account.TORONTO, March 25, 2026 (GLOBE NEWSWIRE) — “This year, we delivered solid net earnings driven by significant investment gains across our mining portfolio, alongside sizeable monetization transactions that strengthened Dundee’s year-end cash position and financial flexibility,” said Jonathan Goodman, President and Chief Executive Officer of Dundee Corporation. “With a strong balance sheet and ample liquidity, we are in a strong position to redeploy capital toward returns-focused growth and deliver sustained shareholder value.”Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.“Our recently announced earn-in and joint-venture agreement with Westhaven Gold is a clear example of our disciplined approach to deploying capital to build a scalable, long-term mining platform,” Mr. Goodman continued. “The agreement provides Dundee with a path to earn a meaningful interest in Westhaven’s Shovelnose Gold Project and the broader Spences Bridge Gold Belt through staged project expenditures. This transaction reflects our conviction in high-quality assets in stable jurisdictions and our ability to identify opportunities early, apply technical expertise, and support projects with long-term potential.”Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.“The acquisition of Maritime Resources by New Found Gold in 2025 highlights our ability to identify exceptional assets ahead of the broader market and positions us to reinvest our capital into durable, project-level growth opportunities and capture more of the value that we help to unlock,” Mr. Goodman added.Mr. Goodman concluded: “We ended the year with a strong cash position, no debt at the parent level, and a new strategic pathway to cash flow generation, strengthening our future financial position. We are proud of the disciplined execution that has positioned us for this next phase of growth and remain focused on advancing opportunities that can generate future cash flow for Dundee and building lasting value for our shareholders. None of this progress would be possible without the dedication, focus and sharp execution of our entire team – they continue to be the driving force behind everything we achieve.”FOURTH QUARTERAND FULL-YEAR2025RESULTSSEGMENTED FINANCIAL RESULTS Mining InvestmentsIn the fourth quarter of 2025, the Corporation reported net earnings before taxes from the mining investments segment of $205.0 million (2024 – loss of $4.2 million). Performance from the mining portfolio investments generated income of $22.7 million (2024 – loss of $2.6 million). The share of loss from equity accounted mining investments during the fourth quarter of 2025 was $2.7 million (2024 – $1.6 million). Drivers of performance are described in the highlights above. During the quarter, this segment reported a gain of $185.2 million on transfers of equity accounted investments NFG and Magna to portfolio investments, where financial instruments are measured at fair value. During the same period, the Corporation reported net income from its royalty interest in the Borborema Gold Project of $0.9 million, which included $1.3 million of royalty revenue.During 2025, the Corporation reported net earnings before taxes from the mining investments segment of $353.4 million (2024 – $61.6 million). Performance from the mining portfolio investments generated income of $152.9 million (2024 – $62.5 million). The share of income from equity accounted mining investments during 2025 was $14.8 million (2024 – loss of $1.7 million).Corporate and othersThe Corporation reported a pre-tax loss from the corporate and others segment, including non-core subsidiaries, of $11.3 million (2024 – $0.5 million) during the three months ended December 31, 2025. The fair value of non-mining portfolio investments in the corporate and others segment decreased by $20.7 million (2024 – increased $0.5 million) during the fourth quarter of the current year and was driven almost exclusively by the investment revaluation of Dundee’s ownership in TauRx Pharmaceuticals Ltd. The pre-tax loss was partially offset by an $11.4 million gain recognized on the sale of the Corporation’s 20% interest in Android, completed on December 12, 2025.During 2025, the Corporation reported a pre-tax loss from the corporate and others segment of $21.8 million (2024 – earnings of $5.5 million). The fair value of non-mining portfolio investments in the segment decreased by $21.3 million (2024 – increased by $3.4 million).Mining ServicesDuring the fourth quarter of 2025, the mining services segment, comprised of the Corporation’s 78%-owned subsidiary, Dundee Sustainable Technologies Inc. (“Dundee Technologies”), reported net earnings before taxes of $3.8 million (2024 – loss of $4.5 million) after recognizing a $4.5 million gain on a debt settlement in November of 2025. During 2025, this segment reported net earnings before taxes of $1.5 million (2024 – loss of $7.9 million).The Corporation’s audited consolidated financial statements as at and for the years ended December 31, 2025 and 2024, along with the accompanying management’s discussion and analysis, as well as the Annual Information Form, have been filed on the System for Electronic Document Analysis and Retrieval (“SEDAR”) and may be viewed by interested parties under the Corporation’s profile at www.sedarplus.ca or the Corporation’s website at www.dundeecorporation.com.ABOUT DUNDEE CORPORATION:Dundee Corporation is a public Canadian independent mining-focused holding company, listed on the Toronto Stock Exchange under the symbol “DC.A”. The Corporation is primarily engaged in acquiring mineral resource assets. The Corporation operates with the objective of unlocking value through strategic investments in mining projects globally. Our team conducts due diligence in order to assess the geological, technical, environmental, and financial merits and risks of each project and looks to deploy capital where it can either seek to generate investment returns or where the Corporation can collaborate with operating partners and take strategic partnerships through direct interests in mining operations.FORWARD-LOOKING STATEMENTS:This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects Dundee Corporation’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dundee Corporation’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Annual Information Form of Dundee Corporation and subsequent filings made with securities commissions in Canada. Dundee Corporation does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.FOR FURTHER INFORMATION PLEASE CONTACT:Investor and Media RelationsT: (416) 864-3584E: ir@dundeecorporation.comPostmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. 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