A drill rig at Hycroft Mining’s namesake project in Nevada. Credit: Hycroft Mining Hycroft Mining Holding (Nasdaq: HYMC) soared on Tuesday after a securities filing revealed that Canadian billionaire mining investor Eric Sprott has continued to buy the stock despite its price skyrocketing over the past year.Sprott, one of the company’s biggest investors, recently added 150,000 shares at a price of $42.05 each, for a total investment of $6.3 million, a securities filing showed on Monday. This purchase takes ...

Core Viewpoint - Cygnus Metals Limited is initiating extensive exploration programs at its Chibougamau Copper-Gold Project in Quebec, aiming for significant resource growth and value creation for shareholders [6][7]. Exploration and Resource Growth - The company has reported a 29% increase in resources last year and is confident in its exploration strategy to deliver further strong results [4][7]. - Current drilling activities are focused on the Golden Eye and Cedar Bay sites, which are expected to provide substantial resource upside [4][10]. - At Cedar Bay, Downhole Electromagnetics (DHEM) is being utilized for the first time in over 20 years to define follow-up drill targets, with recent drilling returning significant intersections [9][11]. Resource Estimates - The current resource at Chibougamau stands at 6.4 million tonnes (Mt) at 3% CuEq for 193,000 tonnes (kt) CuEq (Measured & Indicated) and 8.5 Mt at 3.5% CuEq for 295 kt CuEq (Inferred) [7][29]. - Specific drilling results include 28.9m at 2.5g/t AuEq and 10.6m at 4.1g/t AuEq from recent exploration at Cedar Bay [8][9]. Target Areas - Joe Mann and Gwillim are identified as high-priority targets with significant discovery potential, having been overlooked for the past 20 years [5][11]. - The company is conducting an Induced Polarisation (IP) survey at Joe Mann to identify drill targets similar to IAMGOLD's Nelligan Complex, which contains substantial gold resources [11][12]. Infrastructure and Development - The Chibougamau area has well-established infrastructure, including a processing facility with a capacity of 900,000 tonnes per annum (tpa), which is the only facility within a 250 km radius [11][12]. - The Gwillim prospect is set to commence drilling, co-funded by Alamos Gold, which has a market capitalization of approximately C$25 billion [11][12].

Core Insights - Cygnus Metals Limited is initiating extensive exploration programs at its Chibougamau Copper-Gold Project in Quebec, aiming to grow resources and drive shareholder value through resource growth [6][7][8] - The company has reported a 29% increase in resources last year and is optimistic about further exploration results [4][8] Exploration Strategy - The exploration campaign focuses on extending known mineralization, drilling defined targets, and identifying new prospects [1][6] - Key areas of focus include brownfields exploration at Cedar Bay and Golden Eye, with ongoing Downhole Electromagnetics (DHEM) to identify follow-up targets [7][8][9] Resource Estimates - Current resource estimates for the Chibougamau project stand at 6.4 million tonnes (Mt) at 3% CuEq for 193,000 tonnes (kt) CuEq (Measured & Indicated) and 8.5 Mt at 3.5% CuEq for 295 kt CuEq (Inferred) [8][28] - Specific drilling results include 28.9m at 2.5g/t AuEq and 10.6m at 4.1g/t AuEq from recent exploration at Cedar Bay [8][12] Drilling Activities - Drilling has commenced at Golden Eye with three rigs to extend the resource below the current depth of 450m, where the resource is currently defined at 0.5 Mt at 5.6g/t AuEq [10][11] - At Joe Mann, a detailed Induced Polarisation (IP) survey is underway to identify drill targets, with historical intersections showing significant gold potential [11][13] Infrastructure and Partnerships - The Chibougamau area has established infrastructure, including a processing facility with a capacity of 900,000 tonnes per annum, which is the only facility within a 250 km radius [11][12] - Drilling at the Gwillim prospect will be co-funded by Alamos Gold, which has a market capitalization of approximately C$25 billion [11][12]

FireFly Metals Conference Summary Company Overview - **Company**: FireFly Metals (OTCPK:MNXM.F) - **Industry**: Metals, specifically copper and gold mining - **Conference Date**: February 17, 2026 Key Points Project Scale and Growth - FireFly has grown its project to **80 million tons** with a **2.2% copper equivalent** grade, which includes a gold credit [2][3] - A high-grade core zone of nearly **20 million tons** is reported at approximately **4% copper equivalent** [3] - The company is actively infilling and expanding its resource base, with expectations to grow beyond the current **80 million tons** [4] Regional Exploration and Value Drivers - FireFly is exploring regional tenements to potentially add another **20 to 80 million tons** to its resource base [4] - The company is focused on de-risking through mining studies and converting inferred resources into measured and indicated (M&I) categories [11][18] - The project has a **1.8 million tons per annum** operation permit, suggesting a potential **45-year mine life** based on current resources [16] Financial Position - FireFly holds **AUD 250 million** in cash, with no debt, no streaming agreements, and minimal royalties, positioning it strongly for growth [7][23] - The company is institutionally owned and has recently been included in the **ASX 300** [6] Recent Developments - FireFly sold its **Pickle Crow** project, containing almost **3 million ounces of gold** at nearly **7 grams per ton**, to Bellavista Resources while retaining a **10% shareholding** [5] - Shareholders will receive free shares in Bellavista, enhancing shareholder value [5] Infrastructure and Operational Advantages - The project benefits from existing infrastructure, including hydroelectric power at **CAD 0.06/kWh**, a nearby port facility, and access to skilled labor [17] - The company is leveraging its historical mining operations to upscale and optimize its current project [16] Future Outlook - FireFly aims to demonstrate the potential for a larger mine through ongoing studies and exploration, with updates expected throughout the year [22][23] - The company is focused on expanding its resource base and exploring regional targets, with multiple drill rigs currently operational [19][23] Market Position - FireFly's Green Bay project is positioned as a significant copper ore body, with **1.4 million tons of actual copper** in the M&I category [20] - Comparisons are made to other mining projects, highlighting the potential for FireFly to be a leading copper producer [21][22] Additional Insights - The mining jurisdiction of Newfoundland and Labrador contributes **32%** of its GDP from mining, indicating a supportive regulatory environment [18] - The company emphasizes the importance of resource growth and operational efficiency as key components of its strategy moving forward [10][19]

Financial Data and Key Metrics Changes - In Q4 2025, Galiano Gold produced 37,500 ounces of gold, a 15% increase from 32,000 ounces in Q3 2025, contributing to a full-year production total of 121,000 ounces, aligning with revised production guidance [4][11] - Revenue reached a record $160 million in Q4 2025, up 40% from $114 million in Q3 2025, driven by higher production and improved gold prices [5][13] - All-in sustaining cash costs decreased to $2,033 per ounce, consistent with guidance [5][15] - Adjusted net income was reported at $0.15 per share after accounting for unrealized losses on hedges [13] Business Line Data and Key Metrics Changes - Esaase mining restarted in early November 2025, with production ramping up in Q1 2026, while Nkran pre-stripping moved 23% more material compared to Q3 2025 [8][9] - The average grade of ore mined increased by 9% compared to the previous quarter, contributing to improved production metrics [8][10] Market Data and Key Metrics Changes - The company anticipates production guidance for 2026 to be between 140,000 and 160,000 ounces, representing a 25% increase from 2025 levels [7][12] - The AISC for 2026 is projected to be between $2,000 and $2,300 per ounce, influenced by a growing royalty burden due to high gold prices [15][16] Company Strategy and Development Direction - Galiano Gold plans an aggressive exploration program for 2026, focusing on expanding underground resources and reserve growth at Esaase [6][24] - The company aims to transition to underground operations at both Nkran and Abore, with a focus on higher-value underground ounces [19][28] - The strategy includes significant investment in exploration and waste stripping activities, supported by a strong cash position and a $75 million revolving credit facility [5][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving production targets, citing improvements in throughput and grades as key drivers for 2026 [32] - The company views 2026 as a pivotal year for cash flow generation, with expectations of significant shareholder value creation as fixed payments to Gold Fields conclude [17][28] Other Important Information - The company reported no lost time injuries in Q4 2025, maintaining a strong safety record [4][8] - The maiden underground mineral resource declaration is expected to reshape future resource growth potential [6][19] Q&A Session Summary Question: What are the key execution risks to monitor with production weighted towards the second half of 2026? - Management highlighted throughput and grade improvements as critical factors for achieving production targets [32] Question: How does the downward revision to guidance impact the five-year outlook? - Management expects a slightly lower production profile in 2026 but anticipates a ramp-up in 2027 [33] Question: When should initial economic studies for the maiden underground resource be expected? - Management plans to work on additional drilling and studies throughout 2026, aiming for results in 2027 [35][37]

Core Insights - Newcore Gold Ltd. has reported significant drill results from its Enchi Gold Project in Ghana, highlighting high-grade gold mineralization at the Boin Gold Deposit, including the first visible gold encountered by drilling [1][3][10] - The ongoing 45,000-metre drill program aims to expand resources and confirm the continuity of gold mineralization at depth, with promising results indicating potential for resource growth [1][5][15] Drill Results - Diamond drill hole KBDD100 intersected 147.50 grams per tonne gold over 1.0 metre, marking the first visible gold found at the project [1][4][10] - Additional significant intersections include KBDD102 with 3.22 g/t Au over 17.0 m and KBDD101 with 1.26 g/t Au over 16.0 m [4][12][13] - The drilling program has tested high-grade shoots to a maximum vertical depth of approximately 312 metres, confirming the geological model and continuity of mineralization [9][14] Project Development - The Enchi Gold Project has an Indicated Mineral Resource of 41.7 million tonnes grading 0.55 g/t Au and an Inferred Mineral Resource of 46.6 million tonnes grading 0.65 g/t Au [22] - The project is advancing towards a Pre-Feasibility Study expected to be completed by the end of H1 2026, with ongoing development work including metallurgical and hydrogeological testing [15][16] Market Engagement - Newcore Gold has entered into an agreement with SRC Swiss Resource Capital AG for investor relations and communications services in Europe, effective January 2026 [17][18]

Core Viewpoint - Cygnus Metals Limited is focusing on resource growth at its Chibougamau Copper-Gold Project in Quebec, identifying high-priority gold drilling targets with significant potential for high-grade mineralization [2][4][10]. Exploration and Drilling Targets - The company has identified two high-priority drill targets, Gwillim and Joe Mann, both known for substantial high-grade gold mineralization and limited modern exploration [4][6]. - Gwillim Project, a joint venture with Alamos Gold, is located 12 km from the Chibougamau processing facility and has historical production of 39,000 ounces at a grade of 4.8 g/t [5]. - Joe Mann Project, located 46 km south of the processing facility, produced 1.2 million ounces at a grade of 8.3 g/t before its closure in 2007 and has an inferred resource of 0.7 million tonnes at 6.0 g/t [6][10]. Significant Intersections - Recent drilling at Gwillim has returned notable intersections, including: - 7.6 m at 38.1 g/t Au from 314.9 m [7] - 15.2 m at 9.4 g/t Au from 155.1 m [7] - 16.4 m at 8.3 g/t Au from 168.3 m [7] - At Joe Mann, significant intersections include: - 0.7 m at 480.2 g/t Au from 92.3 m [13] - 3.8 m at 20.8 g/t Au from 287.2 m [13] - 8.4 m at 6.3 g/t Au from 175.6 m [13] Resource Estimates - The current resource at the Chibougamau Project is estimated at 6.4 million tonnes at 3.0% CuEq for 193,000 tonnes CuEq (Measured & Indicated) and 8.5 million tonnes at 3.5% CuEq for 295,000 tonnes CuEq (Inferred) [6][10]. - The Golden Eye deposit has an indicated resource of 0.5 million tonnes at 5.6 g/t AuEq for 91,000 ounces AuEq and an inferred resource of 1.2 million tonnes at 4.6 g/t AuEq for 182,000 ounces AuEq [10]. Infrastructure and Strategic Position - The Chibougamau area has well-established infrastructure, including a processing facility with a capacity of 900,000 tonnes per annum, which is the only facility within a 250 km radius [11]. - This infrastructure provides a significant advantage for the development of copper-gold opportunities in the region [11].

Core Insights - Newcore Gold Ltd. announced high-grade gold mineralization results from the Boin Gold Deposit at the Enchi Gold Project in Ghana, highlighting the potential for resource growth at depth [1][3][4] - The ongoing 45,000-metre drill program has successfully intersected significant gold grades, with notable results including 173.75 grams per tonne (g/t Au) over 1.0 metre and 3.54 g/t Au over 23.0 metres [1][5][9] - The drilling program aims to explore deeper mineralization, confirming that the Boin deposit remains open at depth and showcasing the high-grade potential of the project [3][4][12] Drilling Results - The recent drilling results include five diamond drill holes totaling 1,699 metres, with all holes intersecting gold mineralization [5][8] - Key results from the drill holes include: - KBDD098: 173.75 g/t Au over 1.0 m from 264 m - KBDD097: 3.54 g/t Au over 23.0 m from 253 m, including 6.92 g/t Au over 8.0 m from 256 m - KBDD088: 2.03 g/t Au over 16.5 m from 190 m, including 3.90 g/t Au over 4.0 m from 195 m [4][5][9] Geological Model and Exploration Potential - The drilling results continue to support the geological model, indicating potential for resource growth driven by higher-grade mineralization at depth [3][11] - The Boin Gold Deposit has only been tested to an average vertical depth of 100 metres, with significant portions of the gold-in-soil anomaly remaining untested [4][14] - The project is located in a region with other mineralized deposits, suggesting that Enchi may be underexplored and offers substantial upside potential [3][12][14] Project Development and Future Plans - The Enchi Gold Project is in its second phase of drilling, focusing on resource growth and discovery, with plans to advance to a Pre-Feasibility Study in H1 2026 [12][13] - Development work is ongoing, including metallurgical testwork and environmental assessments, to support the project's advancement [13][21]

Core Viewpoint - 2025 was a transformative year for Dolly Varden Silver, marked by strategic capital allocation and a focus on growth, resulting in significant value creation for shareholders [1][2]. Financial Performance - Dolly Varden Silver's market capitalization increased from approximately $304 million in 2024 to $590 million in 2025, reflecting a growth of over 93% [4]. - The company raised CAD $63 million in 2025 and ended the year with a cash position exceeding CAD $60 million [4]. - Following the uplisting to the NYSE American on April 21, 2025, the share price appreciated more than 62%, enhancing liquidity and institutional visibility [4]. Strategic Growth Initiatives - The company expanded its land holdings more than six-fold, from approximately 15,000 hectares to over 100,000 hectares, positioning itself as a district-scale silver company [5]. - Strategic acquisitions included properties such as Kinskuch, Theia, and Red Cliff, enhancing the exploration potential in the Golden Triangle [5]. Exploration Achievements - A 56,131-meter drill program was completed, one of the largest in the company's history, yielding high-grade results such as 1,422 g/t silver over 21.70 meters at the Wolf Vein [6][20]. - The exploration results indicate significant mineralization continuity across the district, reinforcing the view that the area remains underexplored [7]. Merger and Future Outlook - A merger with Contango ORE was announced, creating a new North American high-grade silver and gold producer, enhancing growth potential and operational expertise [8][10]. - The combined company will have a market capitalization of approximately US$812 million (C$1.1 billion), improving trading liquidity and institutional ownership [15]. - The 2026 exploration plan aims for resource growth and new discoveries, with ongoing due diligence for further strategic M&A opportunities [10][11].

Core Insights - Liberty Gold Corp. announced positive results from its 2025 resource infill drilling program at the Black Pine Oxide Gold Project in Idaho, confirming the geological model of gold mineralization [1][4][6] Drilling Results - Recent drill results include 0.68 g/t Au over 24.4 meters and 0.81 g/t Au over 22.9 meters at Rangefront, and 0.61 g/t Au over 71.6 meters at Discovery [1][4] - The drilling program is ongoing, with 21 holes reported from Rangefront and approximately 30 additional holes pending results [7] Resource Growth and Feasibility Study - The infill drilling is converting Inferred resources to Indicated and is expected to enhance confidence in the resource model ahead of the Feasibility Study, which is projected to include around 40,000 meters of new drilling [6][8] - The Feasibility resource update is anticipated to be completed in early Q1 2026, with ongoing drilling expected to reach 33,000 meters by mid-December 2025 [6][8] Metallurgical Drilling - In addition to exploration drilling, metallurgical core drilling has been completed, with results expected in early 2026, contributing to the Phase 10 metallurgical program [8] Geological Model Validation - Drilling at both the Rangefront and Discovery zones has validated the resource model and improved confidence in the metallurgical classification, indicating potential for resource expansion [4][12]