Core Viewpoint - Cerrado Gold Inc. has received an unfavorable opinion from the Portuguese Environmental Agency regarding the Environmental Impact Assessment for the Lagoa Salgada Project, despite the project being deemed approved due to the expiration of the statutory deadline for a final decision [1][2][9]. Regulatory Context - Under Portuguese law, the APA was required to issue an Environmental Impact Declaration within 50 business days, which lapsed on January 22, 2026, leading to tacit approval of the EIA submitted on November 8, 2025 [2]. - The project has undergone significant improvements based on previous feedback from the APA, addressing concerns raised in May 2025 [6][10]. - The unfavorable opinion from the APA is based on potential risks to the hydrodynamic balance of aquifers, which the company argues were not previously identified and thus should not be grounds for a negative opinion [8][12]. Company Actions - The company is currently reviewing the APA's unfavorable opinion and is engaging with local authorities to seek a resolution that benefits all stakeholders [4][14]. - If constructive engagement does not yield a favorable outcome, the company plans to file a legal claim to enforce the RJAIA and confirm the project's tacit approval [5][14]. Strategic Significance - The Lagoa Salgada Project is recognized as a Project of National Interest by the Portuguese Government and aligns with the EU Critical Raw Materials Act, contributing to the secure supply of critical metals in Europe [5][15]. - The project is a high-grade polymetallic deposit containing zinc, copper, lead, tin, silver, and gold, with significant exploration potential [15][20].

Allied Critical Metals has secured a favourable environmental impact declaration from the Portuguese Environment Agency for its fully owned Borralha Tungsten Project in northern Portugal. The declaration is subject to standard regulatory conditions (Declaração de Impacte Ambiental Favorável Condicionada – DIA). This regulatory approval marks a major step, enabling the project to advance to the Project of Execution and RECAPE (Environmental Compliance Report of the Execution Project) stage, along with su ...