07:53 AM EST, 02/18/2025 (MT Newswires) -- Mineros ( MNSAF ) over the weekend reported an increase in net profit for the fourth quarter on the back of rising gold prices.

The gold producer, which owns mines in Nicaragua and Colombia, posted a net profit of US$23.2 million, or US$0.08 per share, for the three months ended Dec. 31, rising from US$21.8 million, or US$0.08 per share.

Revenue jumped to US$150.2 million from US$130.4 million and adjusted EBITDA increased to US$56.9 million from US$53.4 million.

Gold produced fell to 54,189 ounces from 62,039 ounces. Silver production declined to 112,142 ounces from 198,427 ounces.

"From an operational perspective our Hemco operation is running smoothly and our partnership with artisanal miners under the Bonanza model continues to deliver excellent results aligned with our vision of bringing benefit to all stakeholders thereby allowing us to produce close to the top end of our guidance," said Andres Restrepo, president and CEO of Mineros ( MNSAF ).

Separately, Mineros ( MNSAF ) said the Colombian Superintendent of Finance accepted an application from Sun Valley Investments to make a public tender offer in Colombia to acquire between 5% and 9% of Mineros's ( MNSAF ) ordinary shares at 4,600 Colombian pesos per share. Sun Valley currently owns a 31% stake in Mineros ( MNSAF ).

The acceptance period for the offer will start Feb. 21 and end March 6, 2025, but may be extended for up to 20 additional business days.

Mineros' ( MNSAF ) share price fell 3.1% from near 52-week highs on Friday to $2.20 on the TSX.