Core Viewpoint - Cabral Gold Inc. has announced significant improvements in its updated Prefeasibility Study (PFS) for the Cuiú Cuiú gold project in Brazil, highlighting enhanced financial metrics and a promising pathway to initial gold production within 12 months of an investment decision [1][4][10]. Financial Metrics - The after-tax Net Present Value (NPV) has increased by nearly 200% from US$25.2 million to US$73.9 million [6][16]. - The after-tax Internal Rate of Return (IRR) has risen from 47% to 78% based on a base case gold price of US$2,500 per ounce, with payback of initial capital reduced from 18 months to 10 months [6][22]. - At the current spot gold price of US$3,340 per ounce, the after-tax IRR increases to 139% and the after-tax NPV to US$137 million [6][16]. Project Development - The project aims to develop a low-cost starter operation that will generate significant cash flow to support further exploration and development of the primary hard rock resources [3][11]. - Initial gold production is targeted for the second half of 2026, with advanced negotiations for project financing ongoing [4][77]. Resource and Production Capacity - Probable Mineral Reserves have increased by 54% from 83,762 ounces to 128,908 ounces of gold, with life of mine gold production rising by 56% from 72,478 ounces to 113,155 ounces [6][22]. - The annual processing capacity has been increased from 720,000 tonnes per year to 1,000,000 tonnes per year, extending the mine life from 4.4 years to 6.2 years [6][22]. Operational Improvements - The project has reduced capital intensity, with initial capital costs remaining essentially unchanged at US$37.7 million compared to US$37.4 million in the previous PFS [6][22]. - The waste-to-ore ratio has improved from 0.93 to 0.78, indicating more efficient resource extraction [22]. Exploration Potential - Recent drilling has identified a fifth gold-in-oxide blanket at the Jerimum Cima target, which could provide opportunities for future resource expansion [9][11]. - The company is pursuing an aggressive exploration drilling program to increase the primary hard rock resource base [11][12]. Infrastructure and Access - The Cuiú Cuiú project is strategically located near existing infrastructure, with ongoing upgrades to access roads to support year-round operations [52][53]. - The project will utilize a diesel generator bank for power, minimizing initial energy costs [56][57]. Next Steps - The company plans to finalize project financing and achieve an investment decision by the Cabral Board in the second half of 2025 [77].

Ausgold (AU4) Conference Summary - July 24, 2025 Company Overview - Ausgold is focused on the development of the Katanning gold project located in the Southwest of Western Australia, approximately 30 kilometers east of Katanning town and three and a half hours southeast of Perth [3][4]. Key Points from the Conference Feasibility Study - A definitive feasibility study was completed three weeks prior to the conference, outlining the potential for Ausgold to become a mid-tier Australian gold producer with attractive economics [4][12]. - The study indicates a resource of approximately 2.5 million ounces at a grade of 1.11 grams per tonne, with 91% of these ounces classified as measured and indicated [7][8]. - Proven reserves are estimated at 1.25 million ounces, with 84% classified as proven, indicating a high level of confidence in the resource [8][30]. Production Profile - The project is designed for a ten-year mine life, with an average production of 130,000 ounces in the first seven years, tapering off as stockpiles are drawn down [9][10]. - The processing plant is designed for a throughput of 3.6 million tons per annum, with potential for expansion to 5.5 million tons per annum [11][31]. Economic Metrics - The all-in sustaining cost is projected at $2,265 per ounce over the life of the mine, with lower costs in the initial years [12][18]. - At a base case gold price of $4,300 per ounce, the net present value (NPV) is estimated at just under $1 billion AUD, compared to a market cap of around $250 million AUD [12][13]. - If gold prices rise to $5,000 per ounce, the after-tax NPV could increase to $1.35 billion AUD, with an internal rate of return (IRR) of 68% and a payback period of twelve months [13]. Community and Environmental Impact - The project aims to diversify the regional economy of Katanning, which has been experiencing population decline and job scarcity [24][25]. - Ausgold plans to establish its own accommodation village to avoid competing with local housing, addressing community concerns about housing availability [25][26]. - The company is committed to environmental stewardship, with plans to mitigate impacts on local wildlife and preserve sensitive ecological areas [35]. Future Plans - The company is focused on drilling to expand the resource base, particularly down plunge and at satellite deposits, with a maiden resource expected from the Nanticat Bridge Zinger area early next year [36][37]. - Construction is anticipated to begin in mid-2026, with gold production expected before the end of 2027 [38]. Additional Insights - The feasibility study is designed to be credible and achievable, with a focus on building the project rather than seeking a takeover [14]. - The project has undergone extensive drilling, with nearly 300,000 meters completed, ensuring a well-modeled resource [22][23]. - The project is positioned competitively within the Australian cost curve, indicating a lower cost of production compared to many peers [20][21].

Core Insights - The Duparquet Gold Project has made a significant discovery with the newly identified "Minuit" zone, which is located 75 meters north of the historical Donchester Mine, showing promising gold intercepts [1][7][9] - Drill hole DUP25-059 returned notable results, including 2.25 g/t Au over 12.8 meters and 1.21 g/t Au over 60.2 meters, indicating strong mineralization and continuity in the resource area [1][2][11] - The project is positioned to become one of the largest gold deposits in the Abitibi region, with ongoing exploration activities aimed at expanding resource potential [3][5][14] Exploration and Drilling Results - The 2025 exploration program has drilled approximately 9,300 meters to date, with a total of 18,000 meters planned for the year, focusing on resource expansion targets [5][14] - Significant intercepts from drill hole DUP25-059 include 4.08 g/t Au over 4.0 meters within the Minuit zone and 4.1 g/t Au over 4.3 meters within Zone 3 [4][12] - The Minuit zone is interpreted to extend 315 meters to the west of DUP25-059, suggesting further exploration potential [9][10] Geological Context - The Minuit zone is associated with a geological structure characterized by a 45-degree offset, which has led to the discovery of new mineralization trends [8][9] - The historical Beattie mine, which operated from 1933 to 1956, produced over 1.24 million ounces of gold, providing a favorable geological backdrop for current exploration efforts [6][14] - The Duparquet Project is strategically located along the Destor-Porcupine Fault Zone, enhancing its accessibility and potential for resource development [15][14] Resource Estimates - The Duparquet Project currently hosts an NI 43-101 compliant gold resource of 3.44 million ounces in the Measured & Indicated category, grading 1.55 g/t Au, and an additional 2.64 million ounces in the Inferred category, grading 1.62 g/t Au [14][15] - The ongoing exploration and recent discoveries are expected to contribute to the growth of these resource estimates, enhancing the project's overall attractiveness [3][5][14]

Core Viewpoint - New Found Gold Corp. is expanding its 2025 Work Program at the Queensway Gold Project, focusing on advancing the project towards development with significant drilling and engineering studies planned [1][3]. Work Program Expansion - The 2025 work program will include approximately 70,000 meters of drilling, with 80% dedicated to resource definition and pre-development drilling, and 20% focused on exploration [3][8]. - The company is well-financed following a recent bought deal financing, enabling the expansion of the work program [3]. Drilling Focus - About 80% of the planned drilling will target infill drilling of inferred and unclassified mineralization within the AFZ Core, along with grade control drilling at the Keats and Iceberg zones [4]. - The exploration drilling will focus on high-priority targets such as the Dropkick zone, which is a new high-grade gold target located 11 kilometers north of the AFZ Core [5][6]. Excavation and Sampling - The AFZ Core excavation program is underway, with channel sampling of the Iceberg excavation approximately 80% complete [10]. - Excavation of the Lotto zone is expected to be completed in Q4 2025, with channel sampling planned for Q2 2026 [11]. Regional Exploration - A regional exploration program at Queensway South and Queensway North is ongoing, focusing on the extensions of the Appleton and JBP Fault Zones [12]. - This program includes soil and rock sampling, trenching, and a 156 square kilometer magnetic survey [12]. Engineering and Environmental Studies - The company has engaged SLR Consulting to deliver an initial Mineral Resource Estimate (MRE) and a Preliminary Economic Assessment (PEA), with the PEA expected to be completed by late Q2 2025 [13]. - Additional environmental studies will be conducted in 2025 to ensure all baseline studies are completed for upcoming permitting processes [14]. Company Overview - New Found Gold holds a 100% interest in the Queensway project, which spans 175,600 hectares and covers a 110 km strike extent along two prospective fault zones [16]. - The company is focused on growth and value creation at Queensway, supported by a solid shareholder base, including a 19% holding by Eric Sprott [16].

Core Insights - Sokoman Minerals Corp. is preparing for the first of two bulk samples at the Moosehead Gold Project, scheduled for extraction in late May or early June 2025, depending on contractor availability and unforeseen factors [1][3] - The first bulk sample will involve approximately 1,000 cubic meters of mineralized rock with a weighted-average gold grade of 5.78 grams per tonne [2][3] - The company is in discussions for processing the conventional sample and expects a formal contract from Novamera Inc. for a second surgical sample to be extracted in Q4 2025 [3][4] Company Activities - The first bulk sample will utilize conventional drill and blast methods on the Western Trend [2] - P&E Mining Consultants has been contracted to provide a proposed pit shell and drill pattern for the sample extraction [2] - Novamera Inc. is finalizing hole locations for the second sample, which will also be approximately 1,000 cubic meters [3] Equipment and Logistics - The drill rig for the second sample is currently in transit from Europe after maintenance and will first be used for a similar bulk sample for Great Atlantic Resources [4] Analytical Techniques - Samples will be analyzed by Eastern Analytical Ltd. in Springdale, Newfoundland, using standard fire assay methods and total pulp metallic analysis [12][13] Company Overview - Sokoman Minerals Corp. is a discovery-oriented company focused on gold projects in Newfoundland and Labrador, including the Moosehead, Crippleback Lake, and Fleur de Lys projects [14] - The company has entered a strategic alliance with Benton Resources Inc. for joint-venture properties in Newfoundland [14] - In October 2023, Sokoman completed an agreement with Piedmont Lithium Inc. to advance a lithium project [15]

Core Viewpoint - Perseus Mining Limited has made a Final Investment Decision (FID) to develop the Nyanzaga Gold Project in Tanzania, following an updated feasibility study [1][2]. Investment Overview - The company plans to invest approximately US$523 million for the development and operation preparation of the mine, with first gold production expected in Q1 2027 [2]. - The funding will be sourced from interest-free intercompany loans, utilizing Perseus's existing cash and bullion balance of US$801 million as of March 31, 2025 [2]. Project Development - To date, Perseus has invested around US$27.5 million in building project team capacity and initiating early works, including site establishment and bulk earthworks [3]. - The updated feasibility study indicates a shift to a large-scale, wholly open-pit mining operation for the first phase, as opposed to a smaller combined open-pit and underground option previously considered [4]. Production and Financial Metrics - Total gold production over an 11-year Phase 1 mine life is estimated at 2.01 million ounces, with an average annual production of over 200,000 ounces from FY28 to FY35, peaking at 246,000 ounces in FY28 [6]. - The estimated average All-In Site Cost (AISC) is US$1,211 per ounce, with total capital costs for the plant and site infrastructure estimated at US$472 million, including contingencies [6]. - The project is projected to generate an undiscounted free cash flow of US$1,133 million pre-tax and US$706 million post-tax, with a Net Present Value (NPV10%) of US$404 million pre-tax and US$202 million post-tax [6]. Government Engagement - The FID follows constructive engagement with the Government of Tanzania to clarify terms of an existing Framework Agreement for the project's development and operation [7]. Future Exploration - A second phase of resource definition drilling is currently underway, aimed at converting Inferred Mineral Resources into Indicated Mineral Resources, potentially extending the mine's operational life beyond the projected 11 years [8].