Core Viewpoint - Liberty Gold Corp. reports positive results from its 2025 drill program at the Black Pine Oxide Gold Project, indicating significant potential for resource expansion and reserve conversion, particularly in the Rangefront zone [1][4][5] Group 1: Drill Results - Drill intercepts include LBP1099 with 1.27 g/t Au over 22.9 meters and LBP1124 with 0.62 g/t Au over 53.3 meters, both outside the Resource pit [1] - The first 28 reverse circulation (RC) holes in the Rangefront area, totaling 6,506 meters, all show economic oxide gold mineralization [5] - The Rangefront area is defined as a 1,500 x 1,200 x 300 meters zone of continuous oxide gold mineralization, with a Preliminary Feasibility Study resource estimate of 1,619,000 Indicated and 296,000 inferred ounces of gold [6] Group 2: Future Plans and Potential - An additional 12,000 meters of drilling in approximately 50 holes is planned for Rangefront in 2025, with the current drill program focused on upgrading resource categories and supporting mine design [5][9] - The Rangefront area is seen as a strategic starter location for initial mining operations, with potential for 2 to 3 million ounces of gold, likely larger than the Discovery Zone [4] - New drill results suggest the possibility of converting over 250,000 ounces of gold in Resources to Reserves, enhancing the project's overall viability [7] Group 3: Technical Aspects - Metallurgical column leach testing shows a weighted average gold extraction of 86.9% from the Rangefront mineralization, indicating favorable leach performance [6] - The drill program includes generating data for metallurgical, hydrological, and geotechnical studies to support mine design and permitting [5] - The company is also conducting resource conversion drilling in the Discovery Zone and CD Pit areas, with assays results pending on 10 holes [9]

Core Insights - Xtra-Gold Resources Corp. has reported positive assay results from 42 diamond core drillholes totaling 8,207.5 meters at the Kibi Gold Project in Ghana, indicating significant gold mineralization and resource expansion potential [2][6][21] - The drilling primarily focused on the Orange No. 5 and Lone Tree resource expansion targets, confirming continuity of gold systems over substantial strike lengths and depths [3][5][12] Drilling Results - The Orange No. 5 gold system has been confirmed over approximately 750 meters of strike length, with a maximum down-dip distance of 300 meters and down-plunge depth of 800 meters [3][13] - Significant gold mineralization was intersected in a 350-meter step-out hole to the southwest, potentially extending the Orange No. 5 gold mineralization to over 1,100 meters in strike length [5][15] - The Lone Tree shear gold mineralization has been expanded to approximately 600 meters of strike length and 250 meters of maximum down-dip distance [3][18] Assay Highlights - Notable assay results include: - Orange No. 5: 13.1 meters at 2.40 grams per tonne gold, including 2.7 meters at 7.32 g/t Au [4] - Lone Tree: 20.0 meters at 1.02 g/t Au, including 5.1 meters at 2.30 g/t Au [8][16] - A total of 91 drillholes have been reported to date for the ongoing resource expansion target generation drill program [6] Exploration Strategy - The current drilling forms part of an aggressive in-house initiative targeting multiple resource growth opportunities across the broader Zones 1-4 Mineral Resource Estimate footprint area [2][6] - The exploration efforts are supported by advanced litho-structural modeling, indicating favorable geological settings for gold mineralization [13][18] Company Overview - Xtra-Gold Resources Corp. holds a substantial land position in the Kibi Gold Belt, which has seen limited modern exploration activity focused on hard rock gold deposits [21][22] - The Kibi Gold Project represents the only Mineral Resource ever generated on a lode gold project within the Kibi Gold Belt, highlighting its significance in the region [22]

Financial Data and Key Metrics Changes - The company reported a net income attributable to Fortuna of $42.6 million or $0.14 per share, a 380% increase compared to Q2 2024, driven by higher metal prices and an increase in gold sold [30][31] - Liquidity increased to $537 million, up $76 million from the previous quarter, primarily due to $84 million in proceeds from mine sales [9][10] - Free cash flow from operations was $57.5 million, down from $66 million in Q1, mainly due to the timing of tax payments [10][34] - The average realized gold price was $3,306 per ounce, a 14% increase from Q1 [11] Business Line Data and Key Metrics Changes - Consolidated gold equivalent production for the period was 75,950 ounces, with gold production from continuing operations at 71,229 ounces, slightly above the previous quarter [12] - At the Seguela mine, production was 38,186 ounces, consistent with the prior quarter and exceeding the mine plan [18] - Lindero produced 23,450 ounces of gold, marking a 16% increase over Q1, with an all-in sustaining cost (AISC) of $17.83 per ounce, a 6.7% reduction from the previous quarter [23][24] Market Data and Key Metrics Changes - The indicated resource at the Ambassador project in Senegal grew by 53%, and inferred resources increased by 93%, totaling a combined 1 million ounces [7] - The company’s cash cost per ounce was $929, up 7% from Q1, primarily due to the gold to base metal ratio at the Caylloma mine [12][31] Company Strategy and Development Direction - The company aims to rebuild production to 5 million ounces per year, focusing on higher margin, longer life, and lower risk ounces [6][16] - The sale of the San Jose and Yaramoko mines generated $84 million in gross proceeds and allowed the company to redirect capital towards high-value growth opportunities [15] - The company is actively pursuing greenfield and brownfield exploration opportunities, with a total exploration budget of $51 million for 2025, up from $41 million in 2024 [74][75] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company’s growth potential, highlighting a robust balance sheet with $537 million in liquidity and $215 million in net cash [7][9] - The company is well-positioned for strong growth in 2026, with ongoing investments in the Seguela and Ambassador projects [16][60] - Management noted that the elevated AISC is a temporary effect related to capital expenditures and waste stripping, with expectations for costs to decrease in the latter half of the year [13][37] Other Important Information - The company achieved a record of 7.2 million work hours without any lost time injury, improving from the previous record of 6.7 million work hours [8] - The company’s capital expenditures for the quarter totaled $47 million, with $15 million classified as growth CapEx [33] Q&A Session Summary Question: Comments on stock performance and support - Management acknowledged the stock's performance and clarified that the EPS miss was due to the timing of withholding taxes, emphasizing the company's strong financial position [41] Question: Investments in other companies - Management confirmed ongoing investments in various projects, including Awale, and expressed confidence in the growth potential of these investments [46][49] Question: Permitting experience in Senegal - Management reported positive interactions with the Senegalese government and expressed confidence in obtaining necessary permits for the Ambassador project [52][53] Question: Key milestones for the Ambassador project - Management outlined a timeline for the environmental approval and PEA, expecting to submit the environmental document soon and aiming for approval early next year [60][62] Question: CapEx cadence for the second half of the year - Management indicated a slight increase in CapEx spending in Q3, with expectations for a decrease in Q4, contributing to lower AISC in the latter part of the year [63][64] Question: Greenfield projects and exploration budget - Management detailed ongoing greenfield projects and confirmed an exploration budget of $51 million for 2025, highlighting the focus on early-stage opportunities [74][75] Question: Acquisition strategy - Management stated that while they are open to acquisitions, their primary focus is on organic growth within their existing portfolio, emphasizing value over volume [80]

Core Viewpoint - Rua Gold Inc. is expanding its drilling program at the Reefton Project in New Zealand, with a fully funded 12-month exploration strategy aimed at increasing gold resources and transitioning from an explorer to a developer [1][7]. Reefton Drill Program Expansion - A total of 4,000 meters of diamond drilling is planned at Auld Creek with two drill rigs over the next four months, targeting an increase of the inferred resource to over 300,000 gold-equivalent ounces by the end of 2025 [6][14]. - A third drill rig is being mobilized to focus on high-grade gold shoots at Cumberland, following strong results reported in May 2025 [6]. - Alexander River is identified as a high-priority surface target, with drilling expected to commence in Q4 2025 [6][19]. Glamorgan Drill Program Commencement - The Glamorgan project on the North Island is set to begin drilling in Q4 2025, following extensive surface exploration that identified significant gold-arsenic soil anomalies [21][22]. Corporate Developments - The company has a robust financial position with a cash balance of $14 million as of June 30, 2025, and plans to allocate $1 million into marketing over the next 12-18 months [6]. - New investor relations agreements have been established with Capital Gain Media Inc. and Sidis Holdings, each for a fee of $120,000 plus applicable taxes [23][25]. Strategic Outlook - The company aims to enter the "Fast Track Permitting Process" in 2026, leveraging New Zealand's supportive permitting regime to rapidly build its resource base [7]. - The Reefton Goldfield has historically produced over 2 million ounces of gold, and the company controls 120,000 hectares within this district [9][27].

Summary of Catalyst Metals Conference Call Company Overview - **Company**: Catalyst Metals - **CEO**: James Champion DeCrepney - **Key Team Members**: Craig Dingley (Corporate Development), Sylvain Guillaume, Mick Garbeline (Operations) [1][2] Industry Context - **Sector**: Mining, specifically gold mining - **Key Asset**: Plutonic Belt, with a focus on increasing gold reserves and production [4][7] Core Points and Arguments - **Resource Update**: Catalyst announced an update to the resource on the Plutonic Belt, reporting a total of **800,000 ounces** at an average grade of **5 grams per tonne**. The indicated resource has increased to **over 500,000 ounces** at **6.5 grams per tonne** [3][4]. - **Production Goals**: The company aims to increase reserves from **1,000,000 ounces** to **2,000,000 ounces** and boost annual gold production from **100,000 ounces** to **200,000 ounces** [4][8]. - **Financial Position**: Catalyst has a strong balance sheet with approximately **$330 million** in liquidity and **$230 million** in cash, with no debt [7]. - **Cost Efficiency**: The company has managed to bring resources into the indicated category at a cost of **$70 per ounce**, significantly lower than previous studies that estimated costs around **$1,600 per ounce** [5][6]. - **Exploration Strategy**: Catalyst has focused on drilling and exploration, with **10 drill rigs** currently operational, which is expected to enhance resource discovery and increase shareholder value [14][18]. Additional Important Insights - **Historical Context**: The Plutonic Belt has had **14 different owners** over the past 35 years, which has led to inconsistent geological focus. Catalyst's stable management aims to capitalize on this by investing in exploration and development [19]. - **New Acquisitions**: The company has recently acquired the Old Highway deposit for approximately **$30 million**, which has a resource of **200,000 ounces** at **4.5 grams per tonne** [10]. - **Future Projects**: Catalyst is also exploring the Baltic deposit and the K2 deposit, with plans to expand mine life and production capabilities [15][17]. - **Regulatory Environment**: The company is seeking approval from the Victorian government to proceed with underground operations, which is seen as increasingly likely [21]. Conclusion - Catalyst Metals is strategically positioned to enhance its gold production and reserves through focused exploration and efficient resource management. The recent resource update and strong financial position provide a solid foundation for achieving its ambitious production targets in the Plutonic Belt [24].

Core Insights - Omai Gold Mines Corp. has reported significant drill results from its ongoing resource expansion program at the Wenot deposit, indicating high-grade gold mineralization [1][3][5] - The company has exceeded its initial drilling plan, with a total of 37 holes drilled in 2025, totaling 20,500 meters, surpassing the original target of 15,000 meters [1][5] - The updated Mineral Resource Estimate (MRE) is underway, reflecting the successful drilling and the potential for further resource expansion [5][27] Summary by Sections Drill Results - Hole 25ODD-119 reported 31.70 g/t Au over 7.5m (capped at 17.36 g/t Au), including 141.74 g/t Au over 1.5m, and additional significant intervals [4][7] - Hole 25ODD-124 intersected 2.64 g/t Au over 41.8m, including 9.25 g/t Au over 4.5m, and 3.49 g/t Au over 17.4m [4][9] - Hole 25ODD-121 showed multiple intervals of gold mineralization, including 9.85 g/t Au over 2.9m and 13.74 g/t Au over 3.5m [12] - Hole 25ODD-120 intersected 1.66 g/t Au over 37.8m and 2.74 g/t Au over 9.4m [11] Resource Expansion - The Wenot shear corridor is extensive, reaching widths of 350-400m and extending at least 2.5km along strike, indicating potential for further mineralization [5][6] - The company plans to continue drilling to identify near-surface economic satellite deposits that could contribute to early mining [6][28] - The total drilling for the 2024-25 Wenot resource expansion program has now exceeded 33,000m [5] Future Plans - An updated Preliminary Economic Assessment (PEA) is expected 3 to 4 months following the updated MRE, which will include an expanded Wenot open pit deposit and an underground mining scenario at Gilt Creek [5][28] - The company aims to continue impactful drill programs in 2025, with plans to announce an updated and expanded MRE [28]

Company Overview - Hillgrove's market capitalization is $99 million with shares priced at $0.038 as of July 22, 2025[9] - The company has $11 million in cash and an enterprise value of $88 million[9] - Hillgrove has $282 million in income tax losses carried forward as of December 31, 2024[9, 12] Production and Cost Metrics - Kanmantoo processed 669kt of ore with a grade of 0.88% in the first half of 2025[25] - Copper production reached 5,545 tonnes, and gold production was 1,285 ounces[25] - Payable copper sold amounted to 5,481 tonnes at an average realized price of A$14,232 per tonne[25] - C1 costs were A$4.68 per pound, and all-in costs excluding Nugent development were US$4.10 per pound[25] Growth and Exploration - The company plans approximately 20 km of drilling in 2025 targeting resource expansion[32] - Kanmantoo's 2024 Mineral Resources are 19.3Mt grading 0.77% Cu and 0.14g/t Au, containing 150kt Cu and 82koz Au, representing a 96% increase in contained copper compared to the 2022 MRE[31, 32] - The 2024 Maiden Ore Reserve is 2.8Mt grading 0.91% Cu and 0.15g/t Au, containing 26kt Cu and 14koz Au[31] Future Outlook - The company aims to achieve a 1.7-1.8Mtpa run rate in 2026 by accelerating the development of Nugent[21] - Nugent development is expected to reduce mining and processing unit costs by approximately 15-20%[23] - The company is on track to deliver 12-14kt Cu production with All-In Costs of US$3.40-3.90/lb for CY25[20]

Core Insights - Xtra-Gold Resources Corp. has completed 22 diamond core drill holes totaling 5,181 meters at the Orange No. 5 resource expansion target, located approximately 2 km southwest of the current Mineral Resource Estimate footprint [1] - The current Mineral Resource Estimate for the Kibi Gold Project stands at 1,058,200 ounces of gold in the Indicated category and an additional 180,700 ounces in the Inferred category, with a cut-off grade of 0.5 g/t gold [1] - The company is awaiting final assay results from the laboratory, expected within the next three weeks, to further develop a preliminary geological model for the Orange No. 5 target [2] Company Overview - Xtra-Gold is focused on gold exploration in Ghana, holding a substantial land position of 226 km² in the Kibi Gold Belt, which is geologically similar to the Ashanti Gold Belt, known for its rich gold resources [3] - The company is well-positioned to make significant gold discoveries in Ghana, leveraging its strategic land holdings and exploration efforts [3] Exploration Highlights - Initial assay results from a follow-up drill program at Orange No. 5 indicated a stacked, multi-shoot gold mineralization system, suggesting potential for significant resource growth [2] - Specific assay results include 13.0 meters at 1.46 g/t gold, 29.5 meters at 0.73 g/t gold, and other notable intersections, indicating promising mineralization [6]

Core Viewpoint - Osisko Metals Incorporated announced new drilling results from the Gaspé Copper Project, indicating significant mineralization and potential resource expansion below the 2024 Mineral Resource Estimate (MRE) [1][3][11]. Drilling Results - Drill hole 30-1075 intersected 258.0 metres averaging 0.33% Cu and 2.95 g/t Ag, including 15.6 metres averaging 1.47% Cu and 8.5 g/t Ag, with a second intercept at depth of 96 metres averaging 0.54% Cu and 3.34 g/t Ag [3][4]. - Drill hole 30-1076 encountered 208.4 metres averaging 0.40% Cu and 2.61 g/t Ag, with significant intercepts at depth extending mineralization to 548 metres [3][4]. - Drill hole 30-1070 revealed 160.5 metres averaging 0.16% Cu and 1.92 g/t Ag, followed by a second intercept of 122.8 metres averaging 0.62% Cu and 4.86 g/t Ag, and a third intercept of 29.7 metres averaging 1.92% Cu and 15.2 g/t Ag at a depth of 629 metres [3][4]. - Drill hole 30-1074 showed 118.5 metres averaging 0.26% Cu and 1.92 g/t Ag, extending mineralization to a vertical depth of 797 metres [4]. Mineral Resource Estimate - The November 2024 MRE was limited to the base of the L1 skarn horizon (C Zone), with all mineralized intersections below this horizon representing potential depth extensions to be included in the next MRE update scheduled for Q1 2026 [7][11]. - Current Indicated Mineral Resources at the Gaspé Copper Project are 824 million tonnes averaging 0.34% CuEq, while Inferred Mineral Resources are 670 million tonnes averaging 0.38% CuEq [15]. Project Focus - The current drilling program aims to convert the November 2024 MRE to Measured and Indicated categories and to test the extension of the mineralization deeper and laterally towards Needle East and Needle Mountain [11][15].

Core Insights - Luca Mining Corp. reported strong financial results for Q1 2025, with net earnings of $4.5 million, EBITDA of $7.6 million, and free cash flow of $11.7 million before working capital adjustments [1][2]. Financial Performance - The company achieved record revenues of over $47.4 million, representing a 117% increase compared to the same quarter in the previous year [4]. - Positive EBITDA was reported at $7.6 million, with adjusted EBITDA reaching $12.7 million [4]. - Free cash flow before working capital items increased significantly to $11.7 million [4]. - The all-in sustaining cost (AISC) per gold equivalent ounce sold was controlled at $2,251, reflecting only a 9% increase from the prior year despite inflationary pressures [4]. Production Metrics - Consolidated gold equivalent production reached 21,293 ounces, a 51% increase compared to Q1 2024, driven by higher throughput and improved head grades at both mines [4]. - Gold production specifically increased by 79% to 7,677 ounces, with silver and zinc production rising by 69% and 71%, respectively [4]. - The Campo Morado mine processed 175,334 tonnes, a 40% increase, while Tahuehueto more than doubled its throughput to 70,948 tonnes [4]. Exploration and Development - Drilling activities are ongoing at both Campo Morado and Tahuehueto mines to delineate additional near-mine resources and test district-scale potential [3][6]. - Significant discoveries include a new high-grade breccia mineralized shoot at Tahuehueto, with drill results indicating 9.4m of 5.21 g/t AuEq [7][8]. - The company has completed 19 underground drillholes as part of a 5,000m Phase 1 program targeting near-mine resource expansion [5][9]. Debt Management and Cash Position - Since January 1, 2025, the company has paid down $8.4 million against its debt facilities, resulting in a current debt balance of $8.5 million [11]. - Luca's total cash and cash equivalents, including silver bullion, stand at $24.6 million, indicating strong cash flow from operations [11]. Market Position and Index Inclusion - Luca Mining Corp. has been added to the Solactive Global Copper Miners Total Return Index, effective May 1, 2025, enhancing its market visibility [13]. - The company is well-positioned to benefit from strong commodity demand with a diversified metal production profile and expanding production levels [12].