Project Highlights - The DeLamar Heap Leach Project demonstrates robust economics with an after-tax NPV5% of $774 million (base case) and $1.7 billion (spot)[16] - The project boasts a competitive after-tax IRR of 46% (base case) and 89% (spot)[16] - The initial capital expenditure is estimated at $389 million[16] - The project anticipates an average gold equivalent (AuEq) production of 106,000 ounces over the life-of-mine (LOM) and 119,000 ounces annually for the first 5 years[16] - The mine life is projected to be 10 years, with a total payable AuEq of 1.1 million ounces[16] Cost and Economics - LOM cash costs are estimated at $1,179 per AuEq ounce, while all-in sustaining costs (AISC) are projected at $1,480 per AuEq ounce[16] - The project has a payback period of 1.8 years (base case) and 1.0 years (spot)[16] - The NPV-to-capex ratio is 2.0 (base case) and 4.4 (spot)[16] Mineral Reserves - The DeLamar Project has proven and probable oxide mineral reserves of 119,972 kilotonnes with an average gold grade of 0.33 g/t, containing 1,259 koz of gold[27] - The project also holds proven and probable oxide mineral reserves of 119,972 kilotonnes with an average silver grade of 13.56 g/t, containing 52,305 koz of silver[27]

Core Insights - PMET Resources Inc. announced significant lithium and caesium discoveries from its 2025 drilling campaign at the Shaakichiuwaanaan Property, indicating the potential for expanded mineral resources and reserves [2][4][5] Drilling Campaign Overview - A total of 57,024 meters of diamond drilling was completed in 2025, with results reported for 41,943 meters across 173 holes, while assays for 15,081 meters remain pending [3][5][30] - The drilling campaign included testing multiple lithium-caesium-tantalum (Li-Cs-Ta) pegmatite prospects, infill drilling, and condemnation drilling to support development [5][21] Lithium Discoveries - New lithium zones were discovered at the CV4 and CV12 pegmatites, with notable intercepts including 27.0 meters at 1.14% Li2O and 229.0 meters at 1.31% Li2O, respectively [2][17] - The CV5 Pegmatite's strike length has been extended to approximately 5.0 kilometers, with significant results such as 224.9 meters at 1.34% Li2O [24] Caesium Discoveries - A new caesium zone was identified at the CV12 Pegmatite, with intercepts including 23.0 meters at 5.82% Cs2O within a broader anomalous zone of 223.0 meters at 0.98% Cs2O [14][17] - High-grade caesium was also intersected at the CV5 Pegmatite, with results including 0.5 meters at 17.9% Cs2O [24] Mineral Resource Estimates - The Consolidated Mineral Resource Estimate for the CV5 and CV13 pegmatites totals 108.0 million tonnes at 1.40% Li2O and 0.11% Cs2O, with a Probable Mineral Reserve of 84.3 million tonnes at 1.26% Li2O [6][7] Future Plans - The geology team is working on updating geological models based on new drill data, with plans for a revised economic study scheduled for the second half of 2026 [29] - Additional drilling is planned to further delineate the caesium zones and assess the potential for underground resources [14][20]

Core Insights - Falco Resources Ltd. has initiated an update of the feasibility study for its Horne 5 Project, expected to be completed in Q2 2026, reflecting significant changes in commodity prices since the 2021 Feasibility Study [1] - The updated study aims to capture the current long-term commodity pricing environment, which is anticipated to enhance the economic returns of the Horne 5 Project [2] - The Horne 5 Project is one of Canada's largest primary gold projects, expected to produce over 220,000 ounces of gold annually over a 15-year life of mine, with significant outputs of copper and zinc [2][4] Company Overview - Falco is one of the largest mineral claim holders in Québec, with rights to approximately 63,000 hectares in the Noranda Camp, representing 63% of the camp [4] - The Horne 5 Project is located beneath the former Horne mine, which historically produced 11.6 million ounces of gold and 2.5 billion pounds of copper [4] - Osisko Development Corp. is the largest shareholder of Falco, holding approximately 16% of the Corporation [4]

Core Viewpoint - Aura Minerals Inc. has announced the results of the Feasibility Study for the Era Dorada Project, indicating a robust economic outlook with significant gold production potential and favorable financial metrics [1][3]. Project Overview - The Era Dorada Project is located in Jutiapa, Guatemala, approximately 160 km from Guatemala City and near the El Salvador border [4]. - The project is an underground gold mine with an expected production of 111,000 gold equivalent ounces (GEO) annually for the first four years, totaling approximately 1.75 million GEO over a life of mine (LOM) of 16.8 years [3][5]. Financial Metrics - The Feasibility Study indicates an after-tax Net Present Value (NPV) of US$2.17 billion at spot prices of US$4,200 per ounce of gold, with an after-tax Internal Rate of Return (IRR) of 68% [3]. - The project has a competitive All-In Sustaining Cost (AISC) of US$1,178 per ounce during the LOM, with an initial capital expenditure (Capex) of US$382 million and a payback period of approximately 2.82 years [3][5]. Production and Cost Estimates - Average production is projected at 111,000 GEO for the first four years, with a total payable gold of 4,852,000 ounces over the LOM [8]. - The average cash cost is estimated at US$993 per ounce, with an AISC of US$1,178 per ounce [8][9]. Mineral Resource and Reserve Estimates - The project has Proven and Probable Mineral Reserves of 1.75 million GEO, with an average grade of 6.23 grams per tonne [5][30]. - Exclusive Indicated Mineral Resources are estimated at 523,000 GEO, assuming 2.46 million tonnes at 6.61 grams per tonne [5][27]. Mining and Processing Plan - The mining method will primarily utilize sublevel long hole stoping, contributing approximately 98.5% of total metal production [33]. - The processing plant is designed to treat 1,600 tons per day, employing conventional methods including gravity concentration and cyanide leaching [39][40]. Environmental and Social Considerations - The company is working closely with local authorities to ensure compliance with environmental and social standards, aligning with its Aura 360 culture [3].

Financial Position & Liquidity - DPM Metals ended Q3 2025 with $414 million in cash after spending $399 million for the Adriatic transaction, $136 million to retire Adriatic's debt, and $137 million of capital returned to investors [12] - The company's total liquidity as of September 30, 2025, was $564 million [11] Chelopech Mine Exploration - A new high-grade mineralization zone (Wedge Zone Deep Discovery) was discovered on the north flank of the Chelopech mine concession, with results including 68.3 meters @ 7.42 g/t AuEq and 48.1 meters @ 9.41 g/t AuEq [18] - An ongoing 10,000-meter exploration program aims to infill and delineate the WZD target [20] - Chelopech has a strong Mineral Resource base of 1.1 million ounces of gold, 4.4 million ounces of silver, and 242 million pounds of copper [23] Čoka Rakita Feasibility Study - Mineral Reserves increased to 7.34 million tonnes at 6.44 g/t gold [33, 36] - The Mineral Resource Estimate includes 0.53 million tonnes Indicated at 3.94 g/t gold and 0.09 million tonnes Inferred at 3.60 g/t gold [32] - The project is expected to have a Life of Mine (LOM) average gold grade of 6.44 g/t and a top decile all-in sustaining cost of $644/oz gold sold [47] - The initial capital expenditure is estimated at $448 million [55] - Average annual gold production is projected at 189,000 ounces for the first five years [65] Rakita Camp Potential - An Inferred Mineral Resource Estimate establishes a district-scale platform with 2.6 million ounces of gold and 1.9 billion pounds of copper [86] - Dumitru Potok contains a significant higher-grade core of the mineral resource with 2.4 million ounces of gold and 1.7 billion pounds of copper [86] Vareš Mine Ramp-Up - Vareš is expected to have an average grade processed of 9.2 g/t AuEq and total payable production of 1.8 million ounces AuEq over its 15-year initial operating life [92] - The post-tax NPV5% is estimated at $1,585 million [92]

Core Insights - Dakota Gold Corp. reports significant high-grade gold mineralization at the Richmond Hill Oxide Heap Leach Gold Project, confirming the project's resource growth potential [1][3][6] - The company is actively drilling with plans to complete approximately 27,500 meters (~90,000 feet) during its 2025 drilling campaign [1][3] - The project is positioned for long-term value creation through ongoing drilling, feasibility studies, and permitting processes [3][10] Drilling and Assay Results - Recent metallurgical drill hole RH25C-236 intersected 8.17 grams per tonne gold over 11.3 meters, exceeding current block model grades [6] - Expansion drill hole RH25C-296 intersected 1.45 g/t Au over 18.3 meters, indicating mineralization remains open and is only limited by drilling [6][7] - The company has completed drilling and pump installation at all 28 water wells required for permitting, with sampling initiated in November [3][4] Project Development and Future Plans - Dakota Gold aims to advance the Richmond Hill project to commercial production by 2029, alongside outlining a high-grade underground resource at the Maitland Gold Project [10] - The project requires state and county permits, with a feasibility study and permit application targeted for early 2027 [3][4] - Core drilling is ongoing in the northeast project area, with additional assay results expected through the fourth quarter of 2025 and into 2026 [4][6]

Core Viewpoint - The presentation focuses on the results of the feasibility study for the Bilboes Gold Project, highlighting its significance for the company and stakeholders involved [2]. Group 1: Presentation Overview - The webinar is introduced by Mark Learmonth, the CEO of Caledonia, who outlines the agenda and the team involved in the feasibility study [2][3]. - The feasibility study and a related press release were published on November 25, with significant fiscal measures expected from the Zimbabwe Minister of Finance's budget presentation on November 27 [4]. Group 2: Team Introduction - The presenting team includes key executives such as the Chief Financial Officer, Chief Operating Officer, and other directors who contributed to the feasibility study [3].

Core Viewpoint - Blue Moon Metals Inc. is making significant progress on its Norwegian projects, particularly the Nussir Copper-Gold-Silver Project and the NSG Copper-Zinc Project, with ongoing development and exploration activities aimed at enhancing resource estimates and advancing construction timelines [1][2][10]. Nussir Project Update - The underground decline at the Nussir project has advanced 656 meters as of November 27, 2025, marking a crucial step for future mine development and infrastructure installation [2][3]. - The main high-voltage transformer has been secured, reducing schedule risk and supporting the construction sequence [3]. - Early Works Construction Phase 1 has been completed, and Phase 2 is currently underway, focusing on additional surface area preparations [3][4]. - The feasibility study is on track for completion in February 2026, updating operating and capital costs based on the previous JORC compliant study [5]. - A directional drilling campaign commenced in October, aiming to expand the current mineral resource estimate (MRE) and test for high-grade mineralization at depth [6][7]. - The current MRE at Nussir includes an indicated resource of 28.72 million tonnes (Mt) at 1.02% Cu, 0.12 g/t Au, and 12.3 g/t Ag, and an inferred resource of 32.0 Mt at 1.01% Cu, 0.14 g/t Au, and 14.6 g/t Ag [7][8]. NSG Project Update - At the NSG Copper-Zinc project, activities are ramping up with the mining contractor, Fauskebygg, completing necessary improvements to the tunnel entrance [10]. - A 10,000-meter underground exploration program at the Rupsi deposit is expected to start soon, focusing on infill and expansion drilling of the inferred resource of 9.23 Mt at 1.19% Cu and 0.31% Zn [12]. - The geological mapping has advanced the understanding of the district, identifying additional exploration targets [11][12]. Restricted Share Units (RSU) Award - The company has granted 385,415 RSUs to certain officers, with each RSU representing a right to receive one common share following a two-year vesting period [16].

Core Insights - Thesis Gold Inc. announced positive results from an independent Prefeasibility Study (PFS) for its Lawyers-Ranch Project, indicating strong economic viability and positioning the project among the top-tier development-stage gold projects globally [1][6][7]. Project Overview - The PFS outlines a plan for developing the Lawyers-Ranch Project using both open pit and underground mining methods, with ore processed at a single facility [3][13]. - The project has an after-tax NPV of CAD 2.37 billion and an IRR of 54.4%, with a payback period of 1.1 years [6][7]. Economic Highlights - At a gold price of USD 2,900/oz and silver at USD 35/oz, the project shows a pre-tax IRR of 73.5% and an NPV of CAD 3.73 billion [7]. - Initial capital expenditure is estimated at CAD 736.2 million, with a compelling after-tax NPV to initial capital ratio of 3.2:1 [7][29]. Production Metrics - The project is expected to produce an average of 266,000 AuEq ounces annually in the first three years, totaling 2.84 million AuEq ounces over the life of mine (LOM) [7][12]. - The average all-in sustaining costs (AISC) are projected at USD 1,185 per AuEq ounce [7][29]. Resource Estimates - The maiden Mineral Reserve statement includes 76.16 million tonnes of ore grading 0.97 g/t Au and 28 g/t Ag, resulting in a total AuEq grade of 1.33 g/t [7][25]. - The PFS is based on a Mineral Resource Estimate effective October 16, 2025, with significant potential for resource expansion and discovery [14][20]. Mining Strategy - The mining strategy integrates conventional open pit operations with underground longhole stoping, targeting high-grade zones [35][41]. - Approximately 96.8% of the mill feed will be sourced from open pit mining, with underground mining focused on deeper, higher-grade zones [35][36]. Processing and Infrastructure - The processing plant is designed for a throughput of 13,700 tonnes per day, utilizing a flexible flowsheet to recover gold and silver [44][46]. - Infrastructure includes open pit and underground mines, a processing plant, tailings storage, and supporting facilities [46][49]. Future Opportunities - The PFS identifies opportunities for further optimization in the upcoming Feasibility Study, including potential resource upgrades and exploration targets [10][13].

Core Viewpoint - Cerrado Gold Inc. reported operational and financial results for Q3 2025, highlighting increased gold production and ongoing development across its projects, including Minera Don Nicolas, Lagoa Salgada, and Mont Sorcier [1][7][20]. Financial Performance - Total revenue for Q3 2025 was $41.0 million, an increase from $36.7 million in Q3 2024, driven by higher average realized prices [21]. - The company produced 13,832 gold equivalent ounces (GEO) in Q3 2025, compared to 16,604 GEO in the same period last year, with heap leach production significantly higher due to improved recoveries [20][21]. - Adjusted EBITDA for Q3 2025 was $11.8 million, up from $7.4 million in Q3 2024 [19]. - Cash and cash equivalents at the end of Q3 2025 stood at $16.5 million, compared to $7.9 million at the same time last year [19]. Operational Highlights - The heap leach operation achieved a production record of 10,429 GEO for Q3 2025, reflecting a 33% increase from Q2 2025 [4][8]. - The company maintained its full-year production guidance of 50,000-55,000 GEO, with expectations for increased underground mining production in Q4 2025 [7][28]. - The CIL plant processed lower-grade stockpiles during Q3 2025, with plans to continue this into Q4 [4][27]. Exploration and Development - An initial 20,000-meter drill program at Minera Don Nicolas is being expanded to 50,000 meters for 2026, with three new drill rigs acquired to accelerate drilling [5][29]. - The Optimized Feasibility Study for the Lagoa Salgada project is nearing completion, expected in early 2026, while the Bankable Feasibility Study for Mont Sorcier is targeted for Q2 2026 [6][32]. - The company is working on certifying its own testing lab to reduce assay turnaround times [5]. Market Position and Strategy - The company is focused on maximizing asset value through operational optimization and exploration to unlock potential resources [39][40]. - The Mont Sorcier project is positioned to meet growing demand for high-grade iron concentrate, supporting the transition to greener steel production [32][42]. - A hedging program has been extended to secure cash flows and support funding for growth initiatives [26].