Meridian Accelerates Post Financing 2026's Field and Corporate Programmes

Core Insights - Meridian Mining plc has successfully closed a CAD 57.5 million financing, enabling the acceleration of various programs to bring the Cabaçal Au-Cu-Ag mine back into production by the end of 2028, pending license approvals [2][3] - The company plans to conduct extensive exploration drilling in 2026, with up to 10,750 meters of diamond drilling across multiple prospects, including Cabaçal, Jauru, and Araputanga Greenstone Belts [2][8] - Meridian is considering a dual listing on the London Stock Exchange to enhance its access to equity capital and target exposure to the UK investment market [2][21] Financing and Production Plans - The recent financing allows Meridian to move beyond the final investment decision for Cabaçal and into early construction works, including ordering long lead items and initiating civil works [3][4] - Initial civil works are planned for the 2026 dry season, with access roads being upgraded to prepare for potential construction start in H1 2027 [4][8] Exploration and Drilling Activities - The 2026 exploration program will focus on testing targets in the Cabaçal mine corridor, as well as conducting field programs on the Jauru and Araputanga Greenstone Belts [8][35] - Recent drill results from the Santa Helena Central area have shown high-grade polymetallic VMS mineralization, with notable intersections including 2.6 meters at 2.4 g/t Au, 1.7% Cu, and 93.2 g/t Ag [8][26] Geochemical and Geophysical Studies - Geochemical reconnaissance has revealed a new gold-in-soil response of 244.9 Au ppm, indicating potential gold mineralization in unexpected locations [5][6] - The company is advancing its geophysical exploration capabilities by ordering drone-based magnetic, radiometric, and Lidar sensors to improve prospect-scale interpretation [10][11] Resource Development and Technical Studies - The Cabaçal Definitive Feasibility Study (DFS) is being advanced, with specifications for long-lead items expected to be finalized by the end of Q1 2026 [4][29] - The Cabaçal project has a projected after-tax NPV of USD 984 million and an IRR of 61.2%, with a low All-in-Sustaining-Cost of USD 742 per ounce gold equivalent [29][30]