TORONTO, Nov. 12, 2025 (GLOBE NEWSWIRE) -- Chibougamau Independent Mines Inc. (CBG-TSX-V in Canada, CLL1-Frankfurt, Stuttgart, Berlin and Lang & Schwarz Stock Exchanges in Germany, CMAUF-OTC in the US), herein called Chibougamau, is pleased to inform shareholders that Cerrado Gold Inc. has provided an update on the progress to the development of its Mont Sorcier high purity magnetite iron project located on the traditional Cree Territory of Eeyou Istche James Bay in the municipality of Chibougamau, Quebec. ...

Summary of Vista Gold Corp. Conference Call Company Overview - **Company**: Vista Gold Corp. - **Stock Symbols**: VGZ on NYSE American and TSX - **Project**: Mount Todd Gold Project located in Northern Territory, Australia - **Status**: Advanced development stage gold deposit, second-largest undeveloped gold project in Australia [1][2] Key Points from the Feasibility Study - **Feasibility Study Results**: Announced in July, demonstrating a path to near-term production [2] - **Project Scale**: Designed for 15,000 tons per day with potential for expansion [3] - **Initial CapEx**: Reduced by 59% from previous estimates, now at $425 million compared to over $1 billion [4][6] - **Gold Production Profile**: Stabilized production schedule with 175,000 ounces expected in the first three years and 150,000 ounces annually for the next 15 years [5][6] - **Average Grade Improvement**: Increased from 0.77 grams per ton to 0.97 grams per ton [5] - **Reserves**: Decreased from 7 million ounces to 5.2 million ounces due to a higher cutoff grade [6] Economic Metrics - **NPV-5**: - At $2,500 gold price: $1.1 billion - At $3,700 gold price: $2.7 billion - **IRR**: - Nearly 28% at $2,500 gold price - Over 50% at $3,700 gold price [7][8] - **All-in Sustaining Costs**: Just under $1,500 per ounce for the mine [8] Market Position and Valuation - **Comparison with Peers**: Vista Gold has a larger reserve and production capability than Australian junior gold producers, yet its market valuation is significantly lower [8] - **Market Cap Aspirations**: Expected to reach close to $1 billion, with aspirational targets of two to three times that amount [8] Strategic Changes and Risk Management - **Operational Changes**: - Adoption of contract mining and fly-in, fly-out workforce to minimize staffing risks [5][9] - Engaged engineering firms with proven track records in Australia [9] Investor Insights - **Share Price Movement**: Share price increased from $0.93 to a high of $2.46 following the feasibility study announcement [10] - **Net Asset Value**: At $2,500 gold price, net asset value per share is $8.80; at $3,300, it is $17.60, indicating significant upside potential [11][12] Conclusion - **Value Proposition**: The Mount Todd Gold Project presents a strong investment opportunity with substantial intrinsic value, especially as the project moves towards production [12]

Operational Results - Total tonnes processed in Q2 2024 were 93,687[20], with a year-to-date (YTD) total of 192,576[20] - Gold ounces sold in Q2 2024 were 2,724[20], and YTD 2024 were 6,281[20] - Silver ounces sold in Q2 2024 reached 234,560[20], with a YTD figure of 451,095[20] - Copper tonnes sold were 197 in Q2 2024 and 461 YTD[20] - Lead tonnes sold were 491 in Q2 2024 and 1,158 YTD[20] - Zinc tonnes sold were 1,771 in Q2 2024 and 3,453 YTD[20] Financial Performance - The company's cash balance as of June 30, 2024, was $53 million[23] - Cash provided by operating activities totaled $14 million[23] - Net sales for the six months ended June 30, 2024, were $395 million[23] - The net loss for the six months ended June 30, 2024, was $(318) million[23] - Total cash costs per gold equivalent (AuEq) ounce were $1,950/oz for the three months ended June 30, 2024, and $1,789/oz for the six months ended June 30, 2024[23] - Total all-in sustaining cost (AISC) per AuEq ounce was $2,661/oz for the three months ended June 30, 2024, and $2,452/oz for the six months ended June 30, 2024[23] Investment and Exploration - Sustaining investments totaled $2221 thousand in Q2 2024 and $4296 thousand YTD, with a full-year guidance of $8800-$11000 thousand[21] - Growth investments amounted to $326 thousand in Q2 2024 and $1430 thousand YTD, with a full-year guidance of $3200-$5200 thousand[21] - The company drilled 30 exploration drill holes totaling over 2,652 meters and 16 infill drill holes totaling 5,949 meters at DDGM[17]

Core Insights - Troilus Gold Corp. reported additional positive drill results from the Southwest Zone of its Troilus Project in Quebec, Canada, as part of its 2025 drill campaign aimed at identifying higher-grade mineralization and enhancing confidence in the block model [1][2][4] Southwest Highlights - The drill results indicate strong continuity of higher-grade mineralization at surface, which reinforces the potential to optimize and de-risk the Southwest Zone block model, covering the first five years of the mine plan [2][4] - Drill hole SW-25-681 returned 1.79 g/t AuEq over 36 meters, including 2.44 g/t AuEq over 23 meters, while SW-25-709 returned 1.52 g/t AuEq over 21 meters, including 3.09 g/t AuEq over 5 meters [6][8] - The high-grade core of the Southwest is hosted within transitional to tholeiitic brecciated pillow basalts, with significant mineralization signatures indicating Troilus as one of Canada's largest undeveloped gold-copper projects, with 11.21 million gold equivalent ounces in the indicated category and 1.80 million in the inferred category [7][19] Drilling Program - The drilling program at the Southwest Zone focused on defining high-grade zones for the early years of production, with results extending the enriched ore shoot to surface [5][6] - Drilling in the Southwest Zone is now complete, with assays pending for several holes, and the exploration team will shift focus to advancing near-site and regional field targets [8][9] Future Plans - The company plans to release remaining results in the coming weeks, which will further enhance confidence in the block model and help de-risk the early years of production [4][8] - The next phase of drilling is scheduled for the third quarter of 2025, with opportunities to expand on the highest-grade zones of the Southwest [9]

Financial Data and Key Metrics Changes - The company's gross profit increased by 68% to CAD 10.1 million compared to Q1 2024 [5] - Adjusted EBITDA rose by 38% to CAD 8.7 million [6] - Cash and cash equivalents grew to CAD 68.5 million from CAD 17.5 million [6] - Consolidated working capital improved to CAD 61 million from a negative CAD 6.5 million [6] - Total debt increased to CAD 130 million from CAD 40 million, while the debt cost of service decreased from 9.5% to 6% [6] Business Line Data and Key Metrics Changes - Gold Bar produced 10% more gold than budgeted at a cash cost 24% below the low end of annual guidance, with a cash cost of CAD 1,146 [4] - However, Gold Bar's all-in sustaining cost per ounce was approximately CAD 2,200 due to accelerated stripping costs of CAD 7.5 million [4][6] Market Data and Key Metrics Changes - The company reported a positive outlook due to higher prices of gold, silver, and copper [3] - The 49% interest in the San Jose mine has resumed paying dividends, with expectations for more dividends throughout the year [4][18] Company Strategy and Development Direction - The company plans to use funds from a capped call convertible note to advance the development of the Fox Complex, aiming for consolidated annual production of 225,000 to 255,000 ounces by 2030 [3] - Exploration programs are ongoing at both the Fox Complex and Gold Bar, with positive results expected [8] - The company is focusing on balancing reinvestment in the San Jose mine with returning value to shareholders [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improving production and cost per ounce for the remainder of the year [7] - The company anticipates that the feasibility study for Los Azules will enhance financials by capitalizing expenditures, which will improve the bottom line [31][32] - Management believes that higher gold prices will benefit the company significantly [38] Other Important Information - The company received a permit to construct a ramp to the underground at the Stock Mine, which is crucial for the Stock Complex expansion [8] - The company has spent over CAD 250 million on McEwen Copper since 2021, which could have been capitalized if the feasibility study had been completed earlier [34] Q&A Session Summary Question: How much cash or cash plus investments is held within the copper subsidiary? - The treasury for McEwen Copper is currently below GBP 10 million, and additional financing is expected as they move towards the feasibility study [11][12] Question: Is the $10 million enough to complete the feasibility study? - Additional runway will likely be needed to complete the feasibility study by July [12] Question: What is the status of dividends from San Jose? - Regular dialogue with Hochschild is ongoing, focusing on extending mine life while balancing reinvestment and shareholder returns [16][18] Question: What is the expected production timeline for the Stock Mine? - First production from the underground portion of the Stock Mine is anticipated in the last quarter of this year [20][22] Question: What is the timeframe and cost for bringing the Grey Fox mine back into production? - A study is underway to determine capital and operating costs, with a focus on permitting timelines [23][25][26]