Aura Minerals (NasdaqGS:AUGO) Q4 2025 Earnings call February 27, 2026 08:30 AM ET Speaker8Good morning, ladies and gentlemen. Welcome to fourth quarter 2025 earnings call. This conference is being recorded and the replay will be available at the company's website at auraminerals.com. The presentation will also be available for download. This call is also available in Portuguese. To access, you can press the globe icon on the lower right side of your Zoom screen and then choose to enter the Portuguese room. ...

See also explained that cash operating costs and AISC were above the company’s 2025 guidance range primarily because guidance was based on a $2,500 per ounce gold price assumption, while average realized gold price for the year was $3,594 per ounce. He said royalties and statutory profit sharing increase reported unit costs by about $10 per ounce for every $100 per ounce increase in gold price, implying roughly a $110 per ounce impact versus a $60 per ounce assumption used in guidance.Chief Financial Office ...

Eldorado Gold (NYSE:EGO) Conference February 23, 2026 04:00 PM ET Speaker2Please take it away, George.Speaker1It's great to be at BMO again, and great to be talking about what we think is a fantastic combination of two Canadian-based companies. This is our typical forward-looking statement with cautions, and this is a map of our portfolio. What are we about? Well, at Eldorado, we got four existing operations. They're generating solid cash flow. We've been producing about 500,000 ounces the last couple of ye ...

Core Viewpoint - Monument Mining Limited has announced positive results from its ongoing drilling program at the Buffalo Reef/Felda areas, which is part of the Selinsing Gold Mine expansion project in Malaysia. The results indicate significant gold mineralization and continuity between drill holes, supporting the potential increase in gold resources and extending the mine's life. Drilling Program Highlights - The company has received results from fifteen completed drill holes, with high gold assay results reported [3][4]. - Expansion drilling is currently targeting to increase gold resources and potentially extend the life of the Selinsing Gold Mine, with plans to increase the number of drill rigs from four to nine [2][10]. Significant Drill Results - Notable results include: - MBRDD614: 7.3m at 1.76g/t Au, including 3.0m at 3.35g/t Au [5]. - MBRDD618: 1.6m at 28g/t Au from 95.5m depth [6]. - MBRDD619: 5.7m at 1.72g/t Au, including 3.0m at 4.51g/t Au [7][29]. Expansion Drilling Program - The Buffalo Reef/Felda mine expansion drilling program is divided into Stage 1 and Stage 2, covering a total area of 115 acres, aimed at evaluating the potential to extend currently defined mineral resources [9][28]. - The program has successfully intersected multiple zones of gold mineralization, validating the expansion drilling strategy [10]. Future Plans - The company plans to continue its drilling efforts to further assess the potential of mineralization and will conduct geological interpretation and modeling to confirm structural and grade continuity [30][38]. - The Selinsing mine expansion drilling program will commence once the Buffalo Reef/Felda program concludes, with a focus on high-grade depth extensions and local extensions to modelled gold structures [50][51].

Core Viewpoint - Erdene Resource Development Corp. has successfully initiated operations at the Bayan Khundii Gold Mine, achieving significant milestones in production and processing efficiency, which positions the company for future growth and exploration opportunities in the Khundii Minerals District [2][3][4]. Production Update - The Bayan Khundii Gold Mine produced its first gold and silver doré in mid-September 2025, following the successful commissioning of the processing plant and receipt of necessary state approvals [4]. - Since operations began, the mine has processed 144,845 tonnes of ore, averaging 1,508 tonnes per day, which is 77% of the nameplate throughput of 1,950 tonnes per day [4][8]. - The processing plant has achieved nameplate capacity for much of December 2025, with gold recoveries consistent with or exceeding the forecast average of 93% [5][8]. Financial Performance - The company sold 7,434 ounces of gold and 2,634 ounces of silver, generating gross revenues of $31 million (C$42.5 million) by December 31, 2025, with average prices of $4,153 per ounce for gold and $53 per ounce for silver [6][8]. Future Projections - The Bayan Khundii mine is projected to process 650,000 tonnes per annum and produce approximately 85,000 ounces of gold annually at full capacity, with guidance to be updated post-initial start-up phase expected in Q2 2026 [7]. Exploration Activities - Recent exploration efforts in the Khundii mining license have focused on near-surface oxide gold and silver mineralization at the Dark Horse and Altan Arrow prospects, with over 5,000 metres of drilling completed in late 2025 and results anticipated in Q1 2026 [10]. - Concurrent metallurgical studies are being conducted to assess the potential for heap leach processing, which could enhance resource availability for the Bayan Khundii plant and support low-cost mine expansion opportunities [10].

Financial Data and Key Metrics Changes - The company reported record quarterly production of just under 6,600 ounces for Q1 2026, a significant increase compared to the prior year and Q4 results [6][8] - Revenue for Q1 exceeded $25 million, with adjusted EBITDA over $13 million, demonstrating strong cash flow and margins [8][12] - The working capital ratio improved from 1.3 times to 1.7 times, with positive working capital of approximately $15 million [9][28] Business Line Data and Key Metrics Changes - The company is producing between 25,000 and 30,000 ounces in fiscal 2026, with Q1 being one of the lowest quarters expected [4][7] - Cash costs for Q1 were around $1,500 per ounce, within the guidance range of $1,400 to $1,600 per ounce [7][12] - The company has a ROM pad stockpile of over 22,000 ounces, averaging 1.2-1.3 grams per ton, which helps optimize mill feed [10] Market Data and Key Metrics Changes - The realized gold price in Q1 was $3,860 per ounce, which later increased to over $4,600 per ounce, indicating a strong gold price environment [8][12] - The company is positioned in the lowest quartile of the cash cost curve, with gross profits exceeding 50% [12] Company Strategy and Development Direction - The company plans to expand its plant over the next 18-24 months to increase production and fund underground development [3][4] - There is a focus on exploration, with a geophysics study completed and plans to drill approximately 40,000 to 60,000 meters this year [40][42] - The company is negotiating with the Tanzanian government to improve agreements and reduce investment risks [44][46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational performance and the potential for increased production and profitability due to higher gold prices [26][42] - The company anticipates a steady descent in the mining project, with improved grade profiles expected in the coming quarters [32][37] - Management is optimistic about the exploration results and the potential for increased reserves and resources [40][42] Other Important Information - The company is investing in plant upgrades and expansion, utilizing free cash flow to enhance throughput and recovery rates [11][12] - The company has engaged marketing firms to attract high-net-worth investors and institutional interest [76][78] Q&A Session Summary Question: Potential bottlenecks during ramp-up and labor force impacts - Management indicated that labor costs are stable, with a slight increase in workforce expected but overall efficiency improvements anticipated [61] Question: Expectations for high-grade material mining - Management confirmed that head grades will increase with the installation of a thickener, allowing for better separation of higher-grade material [65] Question: Plant utilization rate increase and strip ratio plans - The increase in plant utilization from 88% to 90% is attributed to improved maintenance and spare parts management [68] - The strip ratio will fluctuate based on the mine plan and gold prices, with expectations of a lower strip ratio as stockpiles increase [70]

Financial Data and Key Metrics Changes - The company reported record quarterly production of just under 6,600 ounces in Q1 2026, a significant increase compared to the prior year and Q4 results [6][8] - Full year production guidance remains between 25,000 and 30,000 ounces, with Q1 production expected to be among the lowest quarters of the year [7][12] - Cash costs for Q1 were approximately $1,500 per ounce, aligning with the guidance of $1,400 to $1,600 per ounce [7][12] - Revenue for Q1 exceeded $25 million, with adjusted EBITDA over $13 million, indicating strong cash flow and margins [8][12] - Working capital ratio improved from 1.3 times to 1.7 times, with positive working capital of about $15 million [9][12] Business Line Data and Key Metrics Changes - The company operates the Buckreef Gold Project in Tanzania, producing between 25,000 and 30,000 ounces in fiscal 2026 [4][6] - The ROM pad stockpile has grown to over 22,000 ounces, averaging 1.2-1.3 grams per ton, which optimizes mill feed consistency [10][12] - Significant investments were made in plant upgrades and expansions, including down payments on thickeners and elution plants [11][12] Market Data and Key Metrics Changes - The average gold price realized in Q1 was $3,860 per ounce, which later increased to over $4,600 per ounce, demonstrating strong leverage to gold prices [8][12] - The company is positioned in the lowest quartile of the cash cost curve, with gross profits exceeding 50% [12] Company Strategy and Development Direction - The company plans to expand the plant over the next 18-24 months to increase production and fund underground development [3][4] - Exploration efforts are ongoing, with a focus on prospective areas such as Stanford Bridge and Anfield, and a geophysics study has highlighted new targets [40][41] - The company is negotiating with the Tanzanian government to establish better agreements that enhance operational transparency and reduce investment risks [44][46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational growth and the potential to exceed PEA metrics in terms of throughput and gold production [16][22] - The company anticipates a steady grade profile and increased production as new processing equipment is installed [32][37] - Management is optimistic about the financial outlook, expecting to generate higher cash flow and improve working capital ratios [28][51] Other Important Information - The company is investing in exploration with plans to drill approximately 40,000 to 60,000 meters throughout the year [40][42] - The company has engaged multiple marketing firms to attract high-net-worth investors and institutional interest [76][78] Q&A Session Summary Question: Can you walk me through potential bottlenecks during ramp-up and impacts on the labor force? - Management indicated that labor costs are stable, with a slight increase in workforce expected but overall efficiency improvements anticipated [61][62] Question: When should we expect high-grade material to be mined? - Management noted that head grades will increase as the thickener is installed, allowing for better separation of higher-grade material [65] Question: What brought the plant utilization rate from 88% to 90%? - The increase in utilization is attributed to improved preventative maintenance and better organization of processes [68][69]

Financial Data and Key Metrics Changes - The company reported record quarterly production of just under 6,600 ounces in Q1 2026, a significant increase compared to the prior year and Q4 results [6][8] - Revenue for Q1 reached over $25 million, with adjusted EBITDA exceeding $13 million, demonstrating strong cash flow and margins [8][12] - The working capital ratio improved from 1.3 times to 1.7 times, with positive working capital of approximately $15 million at the end of Q1 [9][27] Business Line Data and Key Metrics Changes - The Buckreef Gold Project in Tanzania is producing between 25,000 and 30,000 ounces in fiscal 2026, with Q1 production expected to be among the lowest quarters of the year [4][7] - Cash costs for Q1 were approximately $1,500 per ounce, aligning with the full-year guidance of $1,400 to $1,600 per ounce [7][12] Market Data and Key Metrics Changes - The company realized a gold price of $3,860 per ounce in Q1, which later increased to over $4,600 per ounce, indicating a strong gold price environment [8][12] - The gross profit margin is over 50%, positioning the company in the lowest quartile of the cash cost curve [12] Company Strategy and Development Direction - The company plans to expand the plant over the next 18-24 months to increase production and fund underground development, with an 18-year mine life projected [3][4] - The focus is on optimizing the existing plant and enhancing recovery rates through upgrades, including a super oxidation system and a new SAG mill [20][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational growth and the potential to exceed PEA metrics in terms of throughput and gold production [15][22] - The company is optimistic about increasing reserves and resources due to favorable gold prices and ongoing exploration efforts [21][25] Other Important Information - The company is actively negotiating with the Tanzanian government to establish better agreements that promote investment and operational transparency [44][46] - Exploration plans include drilling approximately 40,000 to 60,000 meters in 2026, targeting new areas identified through geophysical studies [39][40] Q&A Session Summary Question: Can you walk me through potential bottlenecks during ramp-up and impacts on the labor force? - Management indicated that labor costs are stable, with a slight increase in workforce expected but overall efficiency improvements anticipated [62][64] Question: When should we expect high-grade material to be mined? - Management confirmed that head grades will increase as the thickener is installed, allowing for better separation of higher-grade material [65] Question: What brought the plant utilization rate from 88% to 90%? - The increase in utilization is attributed to improved preventative maintenance and better organization of processes [69][70] Question: What are the risks of completing TSF-3 on schedule? - Management assured that the construction of TSF-3 is on track, with a timeline of about five months for completion [74][76] Question: What initiatives are in place to promote TRX and its stock? - The company is engaging marketing firms to attract high-net-worth and institutional investors, focusing on maintaining a stable share count without discounts [76][78]

Core Viewpoint - Allied Gold Corporation has commenced operations at Sadiola with the new fresh ore comminution circuit, marking a significant milestone in its growth strategy aimed at increasing production and cash flows [1][2]. Group 1: Phase 1 Expansion - The Phase 1 expansion allows Sadiola to increase the proportion of fresh ore in the feed from approximately 20% to 60%, with an expected throughput of 5.7 million tonnes per annum [2]. - The first quarter of 2026 is anticipated to be the first full quarter with higher-grade fresh ore contributing to production, with production levels expected to vary as mining progresses [2][5]. - The completion of Phase 1 is expected to result in annual production of 200,000 to 230,000 gold ounces, representing a 17% to almost 30% increase over 2023 production levels [5]. Group 2: Phase 2 Expansion - The Company is in the final stages of studies to define the preferred growth path for Sadiola, including a modular expansion of current facilities and increasing metallurgical recoveries for fresh ore [3]. - An update on the Phase 2 expansion, which is planned to commence in late 2026, will focus on a more capital-efficient, modular upgrade rather than a larger, more expensive plant [4]. Group 3: Production Outlook - In the current quarter, Sadiola is expected to produce approximately 60,000 gold ounces, reflecting a 40% increase over the average of prior quarters this year [6]. - Overall production for the quarter is expected to exceed 113,000 gold ounces, a 30% increase over prior quarters and a 13% increase compared to the same quarter last year [7]. - The Company maintains its guidance for the year of over 375,000 gold ounces [7]. Group 4: Company Overview - Allied Gold Corporation is a Canadian-based gold producer with a significant growth profile, operating a portfolio of three producing assets and development projects in Côte d'Ivoire, Mali, and Ethiopia [8]. - The Company aims to become a mid-tier, next-generation gold producer in Africa and ultimately a leading senior global gold producer [8].

Expanded Phase 2 (EP2) Overview - The Expanded Phase 2 (EP2) project aims to add a 13 Mtpa plant to achieve a total throughput of 21 Mtpa by the end of 2028[9] - The capital cost for EP2 is estimated at $144 billion[11] - The project targets over 500,000 ounces of annual gold production for the first 10 full years[13] - Phase 1A aims to increase plant design throughput from 6 Mtpa to 8 Mtpa by the end of 2026, with a capital cost of $110 million[9, 11] Production and Cost Guidance - The project anticipates annual average gold production of 500,000-525,000 ounces for the first 10 full years (2029-2038)[14] - Annual average silver production is projected at 2,000,000-2,500,000 ounces for the first 10 full years (2029-2038)[14] - All-in sustaining costs (AISC) are estimated at $1,000-$1,100 per ounce of gold for the first 10 full years[14] Project Execution and Benefits - Front-end engineering and design for EP2 were completed in December 2025, with advanced planning for early works and construction[30] - The EP2 processing plant will be a separate facility adjacent to the Phase 1 processing plant, minimizing disruption to current operations[22] - The project is expected to create approximately 1,200 direct employee and contractor positions for operations, plus around 1,500 employees and contractors during construction[41]