Core Viewpoint - Desert Gold Ventures Inc. is advancing its Barani East gold project in Mali through a phased approach focused on infrastructure readiness, risk reduction, and disciplined capital deployment [2][14]. Site Preparations and Infrastructure Activities - The company has initiated site preparations and infrastructure works, including civil works, upgrading access roads, and constructing internal roads to support future plant installation [3][7]. - Activities also include the preparation of the ROM pad, construction of plant foundations, and development of water supply infrastructure [7]. - The goal of these activities is to reduce future construction timelines and support efficient execution of subsequent development phases [4]. Processing Equipment Procurement - A modular, gravity-based gold processing plant is being procured, designed for a nominal throughput capacity of approximately 10 tonnes per hour, with potential expansion to 50 tonnes per hour [5][8]. - The processing equipment is currently under manufacture and is expected to be delivered after factory acceptance testing [9]. Metallurgical Recovery and Processing Strategy - Initial metallurgical test work indicates gravity gold recoveries of approximately 68%, with potential for up to 92% recovery using carbon-in-leach (CIL) processing [10][11][13]. - Material not recovered during gravity processing will be stockpiled for potential future processing, with CIL processing considered for long-term development [11]. Development Strategy - The phased development approach is intended to maintain capital efficiency while progressing key development activities as technical work advances and funding options are evaluated [14]. - The company plans to provide updates to the market as material milestones are achieved [14].

Core Viewpoint - Copper Quest Exploration Inc. has entered into an Option to Purchase Agreement for the Alpine Gold Property, which presents significant opportunities for value creation amid high gold prices [1][4]. Company Overview - Copper Quest is focused on strategic acquisitions and the exploration of critical mineral projects across North America, currently holding over 40,000 hectares of land [21][25]. - The company has a 100% interest in several projects, including the Stars Property and the Nekash Copper-Gold Project, which are located in favorable mining jurisdictions [22][23]. Acquisition Details - The Agreement involves the purchase of all mineral claims and crown grants of the Alpine Gold Property, with Copper Quest issuing 14,177,517 common shares at a deemed price of $0.175 per share [15][17]. - The company will also reimburse $225,000 for prior expenditures on the property and grant a 2% net smelter return (NSR) to the seller, with half of it being buyable for CAD$1 million [16][17]. Property Highlights - The Alpine Gold Property spans 4,611.49 hectares and is located approximately 20 kilometers northeast of Nelson, British Columbia [3]. - The property includes a former underground mine with historical production of approximately 16,810 tonnes of mineralized material, containing 356,360 grams of gold and 222,054 grams of silver [3][4]. - There are additional unexplored vein systems on the property, including Black Prince, Cold Blow, Gold Crown, and past-producing King Solomon, all known for high-grade gold values [4]. Resource Potential - The 2018 NI43-101 inferred resource estimate for the property is 268,000 tonnes at an average grade of 16.52 g/t Au, equating to approximately 142,000 ounces of gold [4]. - There is an estimated 24,000 tonnes of Run of Mine mineralized stockpile on the surface, presenting a potential near-term cash flow opportunity [4]. Leadership and Expertise - The company has appointed Mr. Allan Matovich to the Board of Directors, who has over 60 years of mining experience and is the principal owner of the Alpine Gold Property [6][7]. - Mr. Ted Muraro and Mr. John Mirko will serve as Technical Advisors, bringing over 100 years of combined experience in mineral exploration and development [10][12]. Market Context - Global demand for gold remains strong due to geopolitical uncertainties and inflation, while supply growth is limited, highlighting the strategic value of advancing new gold projects [19].

Tesoro Gold Conference Call Summary Company Overview - **Company**: Tesoro Gold Ltd - **Project**: El Zorro Gold Project - **Location**: Northern Chile, Atacama Desert - **Current Resource**: 1.8 million ounces constrained within a $3,000 per ounce pit, with an unconstrained resource of 2 million ounces [1][2] Key Points and Arguments Resource Development - **Drilling Campaign**: A 20,000 meter drilling campaign at the Tenera gold deposit has added 500,000 ounces to the resource, bringing the total to 1.8 million ounces [1][2] - **Resource Classification**: 60% of the resources are classified as indicated, with an average of around 5,000 ounces per vertical meter, indicating strong mining potential [3] - **Metallurgical Recovery**: The project boasts over 94% recovery across all grade ranges, with a significant portion of gold recoverable through gravity circuits [4] Economic Viability - **Scoping Study**: An updated scoping study indicates a robust project with a base case using a $2,750 per ounce gold price, projecting an average production of 111,000 ounces per year for the first nine years at an all-in sustaining cost of around $1,200 per ounce [11] - **NPV and IRR**: The post-tax NPV at a 7.5% discount rate is $663 million, with potential NPV reaching $1.3 billion at higher gold prices [12] Infrastructure and Location - **Strategic Location**: The project is located 13 km from the coast and near the Pan-American Highway, with power and water sources within 20 km [6][7] - **Water Source**: Water for processing will come from a nearby desalination plant, which is advantageous due to its low salinity [8][9] Future Plans - **Pre-Feasibility Study**: The company is fully funded to complete a pre-feasibility study by April next year, with ongoing drilling to improve resource classification [5][13] - **Exploration Campaign**: An extensive exploration campaign is underway to grow the Tenera deposit and explore new targets within a 5 km radius [14][17] Regulatory Environment - **Permitting Process**: The permitting process in Chile is described as straightforward, with baseline studies already commenced [13][14] Additional Important Information - **Strategic Investment**: Gold Fields holds a 13% stake in Tesoro Gold, having invested approximately AUD 13 million [6] - **Emerging Targets**: New targets are emerging along a defined gold corridor over 30 km long, with promising results from recent drilling [15][17] - **Growth Potential**: There is a clear pathway to potentially increase the resource to around 3 million ounces based on current exploration results [17] This summary encapsulates the critical aspects of Tesoro Gold's conference call, highlighting the company's strategic position, resource potential, economic viability, and future plans in the gold mining sector.

Core Insights - Osisko Development Corp. reported its financial and operational results for Q3 2025, highlighting significant cash reserves and ongoing project developments [2][3]. Financial Highlights - The company had approximately $401.4 million in cash and cash equivalents as of September 30, 2025 [5]. - Revenues for Q3 2025 were $4.4 million, a substantial increase from $0.2 million in Q3 2024, generated from the sale of 877 gold ounces from the Tintic small-scale heap leach project [5]. - The company completed private placements for approximately $280.4 million (US$203.1 million) in gross proceeds during the quarter [4][5]. Project Developments - The Cariboo Gold Project is advancing with pre-construction activities and underground mine development, including a 13,000-meter infill drill program [4][9]. - The company sold 877 ounces of gold from the Tintic project and plans to continue small-scale operations into Q4 2025 [18]. - The San Antonio Gold Project remains in care and maintenance, with plans to re-submit mining permit applications [19]. Financing Activities - Osisko Development drew approximately $137.2 million (US$100.0 million) under a US$450 million financing facility with Appian Capital Advisory Limited [4][5]. - An additional private placement for approximately $82.5 million in gross proceeds was completed [4][5]. Upcoming Milestones - Key milestones for the Cariboo Gold Project include underground development completion in Q4 2025, with remaining costs estimated at $7.9 million [14]. - The company expects to complete the infill drilling program by Q1 2026, with remaining costs of $2.6 million [14].

Core Insights - Lefroy Exploration has obtained all necessary mining and environmental approvals for the Lucky Strike gold project, including a Mine Development and Closure Plan from the Department of Mines, Petroleum and Exploration [1][4] - BML Ventures will manage site clearing and pre-strip activities, with the first ore expected to be processed in February 2026 [2][4] Project Details - The Lucky Strike gold deposit has a mineral resource estimate of 1.27 million tonnes at 1.95 grams per tonne of gold, equating to approximately 79,600 ounces [3] - The resource includes 700,000 tonnes at 1.93 grams per tonne for 43,400 ounces in the indicated category and 570,000 tonnes at 1.97 grams per tonne for 36,200 ounces in the inferred category [4] Financial and Operational Aspects - BML will pre-fund all pre-mining, capital, and operational expenses, allowing Lefroy Exploration to maintain a strong cash position until profit share distribution, expected in the first half of 2026 [3] - The project is positioned to benefit from the current buoyant gold market, with expectations of strong profitability in 2026 and beyond [5] Strategic Focus - Lefroy Exploration is also focused on developing its flagship Lefroy project, which spans 635 square kilometers in the Kalgoorlie and Kambalda gold and nickel mining districts, as well as the Lake Johnston project located 120 kilometers west of Norseman [5] Recent Developments - In June, Lefroy Exploration secured its first toll milling agreement for processing ore from the Lucky Strike gold project [6]

Core Viewpoint - Revival Gold Inc. is advancing its drilling programs at the Mercur Gold Project in Utah and the Beartrack-Arnett Gold Project in Idaho, with significant progress made towards a planned pre-feasibility study in 2026 [1][3][5] Mercur Gold Project - The drilling program at Mercur commenced on July 12, 2025, with a planned total of 13,000 meters, and as of October 26, 2025, 70 holes and 7,500 meters have been completed [5][9] - The results from the drilling indicate long intercepts of excellent grade, with notable assay results including 0.77 g/t gold over 38.1 meters in RM25-093 and 3.93 g/t gold over 3 meters in RM25-099 [9][10] - The data collected will support the planned 2026 pre-feasibility study, which is a major milestone for restarting gold production at Mercur [3][5][6] Beartrack-Arnett Gold Project - Drilling at Beartrack-Arnett began on October 12, 2025, with a planned 3,900-meter core program targeting high-grade areas, particularly the new Sharkey target area and Joss [4][9] - A fourth rig has been mobilized to Beartrack-Arnett, increasing the total number of rigs to four across the company's projects [3][9] - Initial results from the new drilling at Beartrack-Arnett are expected in December 2025 [3][9] General Observations - The mineralization and leachability results at Mercur are consistent with the Inferred Mineral Resource and metallurgical models developed in the Preliminary Economic Assessment [6][14] - The company is one of the largest pure gold mine developers in the United States, focusing on the development of the Mercur Gold Project and ongoing exploration at Beartrack-Arnett [18]

Summary of Tesoro Gold Ltd. Conference Call Company Overview - **Company**: Tesoro Gold Ltd. - **Project**: El Zorro Gold Project located in Chile - **Market Symbols**: OTCQB: TESORF, ASX: TSO - **Current Status**: Single-asset company developing a significant gold deposit Key Points and Arguments 1. **Project Scale and Resource Update**: - The El Zorro Gold Project hosts one of the largest undeveloped gold deposits in Chile, with an updated mineral resource of 2 million ounces at 1.07 grams per ton gold, or 1.82 million ounces at 1.1 grams constrained within a $3,000 per ounce pit [2][3][9] 2. **Technical and Economic Viability**: - A recent scoping study indicates a technically simple and economically robust project, with a post-tax NPV of $663 million at a gold price of $2,750 per ounce [5][10] - The all-in sustaining cost is projected to be around $1,200 per ounce, with a modest upfront capital requirement of just under $250 million [11][12] 3. **Strategic Location**: - The project is situated in a coastal location with access to essential infrastructure such as power, water, and workforce within 25 kilometers [3][8] - The average elevation of the project is around 650 meters, with a desalination plant located 20 kilometers away for water supply [18] 4. **Shareholder Support**: - Gold Fields Limited, a major gold producer, holds approximately 50% of the company's issued capital and has invested over $14 million in the project [6][21] - Institutional investors have shown strong interest, with the company recently raising $34 million Australian from institutional investors [5] 5. **Future Development Plans**: - The company is moving towards a pre-feasibility study, expected to be completed by April 2026, which will enable the announcement of the first ore reserve [12][13] - An aggressive exploration campaign is planned across the El Zorro district, with up to 11,000 meters of drilling to discover additional deposits [14][15] 6. **Market Conditions and M&A Potential**: - The current gold price environment is favorable, with potential for increased M&A activity in the sector [20] - The company remains open to M&A opportunities, particularly given the interest from Gold Fields Limited [19][20] Additional Important Information - **Metallurgy**: The deposit exhibits high metallurgy with over 94% gold recovery at a coarse grind size of 125 microns, indicating efficient processing capabilities [4][16] - **Environmental Considerations**: The project is in a well-established mining region, with a straightforward permitting process that has seen over $100 billion in mining projects permitted in Chile in the last two years [13] - **Exploration Targets**: The company is actively exploring high-priority targets within its concession holding, with the potential for significant resource growth [14][15] Conclusion - Tesoro Gold Ltd. is positioned for significant growth with its El Zorro Gold Project, backed by strong shareholder support and a clear development pathway towards production. The upcoming months are expected to be critical for advancing the project and exploring additional gold deposits.

Core Viewpoint - CopAur Minerals Inc. has submitted a Temporary Discharge Permit Application for Closed Facility Exploration to the Nevada Division of Environmental Protection, aiming to assess the potential for further processing of materials from the Kinsley project [1][2]. Company Overview - CopAur is focused on developing projects in mineral-rich regions of Nevada, with the Kinsley Mountain Gold Project being its flagship project located 90 kilometers south of the Long Canyon mine [6]. Project Background - The Kinsley Mountain Mine produced approximately 138,000 ounces of gold from 1994 to 1998 and was closed in 1999 due to bankruptcy [2]. - The mine site was reclaimed by the Bureau of Land Management (BLM) from 2004 to 2006 [2]. Current Resources - The Kinsley project currently hosts mineral resources of 418,000 indicated ounces at an average grade of 2.63 g/t gold and 117,000 inferred ounces at 1.51 g/t gold, including 302,000 ounces averaging 6.11 g/t gold within the high-grade Western Flank Zone [3]. Permit Application Details - The Temporary Discharge Permit Application seeks authorization to sample the closed and reclaimed heap leach pad for metallurgical testing, which is part of the evaluation for developing a district-scale gold project in the area [2][4]. - The application was completed with the assistance of Thorne Solutions LLC, and the company's technical team is prepared for any follow-up from regulators [4].

Core Viewpoint - CopAur Minerals Inc. has appointed Andrew Neale to advance its Kinsley Mountain Gold Project in Nevada, which has significant gold resources and a history of production [1][4]. Company Developments - Andrew Neale has joined CopAur after a decade of experience in mining projects across Southeast Asia, focusing on finalizing the design of the Kinsley Mountain heap leach pad sampling program [1][2]. - The Kinsley Mountain Gold Project has a historical production of approximately 138,000 ounces of gold from 1995 to 1999 and currently hosts 418,000 indicated ounces at 2.63 g/t gold and 117,000 inferred ounces at 1.51 g/t gold, including 302,000 ounces averaging 6.11 g/t gold in the high-grade Western Flank Zone [2][4]. - The company expects to submit a completed application for the sampling work this week, with a permit anticipated before the end of the year, allowing work to commence in early 2026 [3]. Industry Context - The Kinsley Mountain project was last in production in 1998 when gold prices averaged around US$360 per ounce, and operations were suspended due to non-technical reasons, despite its strong exploration potential [5]. - CopAur is focused on developing projects in the mineral-rich regions of Nevada, with Kinsley Mountain being its flagship project located 90 kilometers south of the Long Canyon mine [7].

Core Insights - Newmont announced the first gold pour at its Ahafo North project in Ghana on September 19, marking a significant milestone towards commercial production expected in Q4 2025 [1][5] Project Development - The Ahafo North project has completed key development phases, including ore stockpiling that began in late 2024 and the commissioning of essential infrastructure such as processing circuits and mining support facilities [2] - The project is currently ramping up towards full operational readiness [2] Production Capacity - The Ahafo North project, initiated in 2021, is located 30 kilometers north of the existing Ahafo South operations and is projected to add over three million ounces of gold production over an initial 13-year mine life [3][4] - It is expected to deliver between 275,000 and 325,000 ounces of gold annually during its operational life [6] Economic Impact - The project has created approximately 4,500 contracted jobs and will generate around 560 permanent and 1,000 contracted roles once fully operational [6] - It is anticipated to significantly contribute to Ghana's economy through royalties, taxes, fees, and local development programs [6]