08:22 AM EDT, 05/12/2025 (MT Newswires) -- Imperial Metals ( IPMLF ) reported Monday a swing to adjusted net income in the first quarter as revenue increased.

Imperial posted adjusted net income of $41.3 million, or $0.26 per share, improving from a loss of $9.2 million, or $0.06 per share.

Revenue surged to $176.6 million from $84.6 million while adjusted EBITDA surged to $97.7 million from $9.9 million.

Copper production increased to 15.84 million pounds from 12.35 million pounds while gold output rose to 17,120 ounces from 12,861 ounces.

Meanwhile, Imperial said over the weekend that reports of an injunction linked to the construction and operation of the tailings storage facility at its Mount Polley mine in British Columbia are incorrect.

Imperial said there has been no injunction and added that normal operations of the mine and construction of a four-meter raise of the tailings storage facility, will continue.

On May 8, Justice Weatherill of the Supreme Court of British Columbia heard an application for an interim injunction from Xatsull First Nation regarding the decision to approve the four-meter raise of the tailings storage facility. The court adjourned the application until June 24, when both the underlying petition challenging the decision and the injunction will be heard and decided.

Mount Polley Mining, Imperial's unit, said it "made clear at the hearing that although it continues with previously permitted use of the tailings storage facility, it did not anticipate needing to use the four-meter raise currently under construction until July 1, 2025 at the earliest, and agreed to provide an undertaking to the Court to that effect."

Shares of the company closed down 1.4% to $3.60 on Friday on the Toronto Stock Exchange.