08:21 AM EDT, 08/12/2025 (MT Newswires) -- Discovery Silver ( DSVSF ) on Tuesday said it swung to a profit in the second quarter, driven by the company's April acquisition of the Porcupine mine in Ontario.

The company reported net profit of US$5.5 million, or US$0.01 per share, improving from a loss of US$5.1 million, or a loss of US$0.01 per share.

Adjusted net earnings stood at US$28.4 million, or US$0.04 per share, compared to a loss of US$2.1 million, or a loss of US$0.01 per share, recorded in the previous year.

Revenue was US$142.0 million while gold production totaled 50,552 ounces.

"Q2 2025 was Discovery's first quarter as a Canadian gold producer," CEO Tony Makuch said. "During the quarter, we integrated systems, strengthened management structures and began implementing investment programs at Porcupine aimed at improving existing operations and pursuing growth opportunities."

The company said it aims to increase production levels in the final two quarters of the year while ramping up capital investment and exploration programs at Porcupine.

Discovery Silver ( DSVSF ) traded at near 52-week highs of $3.67 per share on Monday.