TSX.V: HSTR OTCQX: HSTXF 1 Cautionary Statement looking statements. This presentation contains certain statements that may be deemed "forward-looking statements". All statements in this presentation, other than statements of historical fact, that address future operations, resource potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are forward Forward looking statements are statements that are not historical facts and are generally, but not ...

Financial Data and Key Metrics Changes - Gold production increased by 22% year-over-year, with gold prices rising by 48%, resulting in gold revenue of $909 million, up 82% from $499 million in 2024 [3][6] - Adjusted EBITDA reached $464 million, a 185% increase from $163 million in 2024, demonstrating significant leverage to higher gold prices [6][3] - Adjusted net earnings were $241 million or $1.28 per share, up from $56 million or $0.35 per share in 2024, reflecting a 265% increase [3][6] - The company generated $127 million in free cash flow, transitioning to generating free cash flow while funding growth initiatives [8][9] Business Line Data and Key Metrics Changes - Segovia produced 228,000 ounces of gold, a 21% increase from 188,000 ounces in 2024, driven by a 17% increase in milling rates [10][11] - Marmato exceeded guidance with steady performance, and the development of the bulk mining zone is ahead of schedule [4][16] - Segovia's all-in sustaining cost (AISC) was $1,534 per ounce, up just 3% year-over-year, while total AISC was $1,705 per ounce, up 13% from 2024 [13][14] Market Data and Key Metrics Changes - The company expects production guidance for 2026 to be between 300,000 and 350,000 ounces, representing over 25% growth year-over-year [4][3] - At $4,400 gold, Segovia is projected to generate $650 million in all-in sustaining margin this year [5] Company Strategy and Development Direction - The company aims to grow production to 500,000 ounces in the near term, with plans to advance Toroparu and Soto Norte to create a pathway to one million ounces per year [24] - The uplisting to the main board of the New York Stock Exchange is expected to enhance visibility among institutional investors and improve trading liquidity [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving production milestones and highlighted the strong operational performance and financial results [24][44] - The company remains well-positioned to generate robust cash flows to fund growth initiatives organically, supported by a strong balance sheet and liquidity [23][9] Other Important Information - The company completed the Segovia processing plant expansion on time and on budget, and reached an amicable arbitration settlement with the Colombian government [24] - The construction of the CIP plant at Marmato is progressing well, with the first gold pour expected in Q4 2026 [19][18] Q&A Session Summary Question: Update on Segovia ramp-up and throughput expectations - Management indicated that the ramp-up is going well, with expectations to reach a steady-state of 3,000 tons per day by Q4 2026 [27][28] Question: Guidance for Q1 production - The company is running around 2,600 tons per day, consistent with the end of Q4 [29] Question: Growth capital expectations for Marmato and other projects - The total cost for Marmato is projected to be around $400 million, with a current budget of $220 million for 2026 [33][42] Question: Optimism about ramp-up of the CIP plant - Management believes the milestones for ramp-up are realistic and achievable [44]

Financial Data and Key Metrics Changes - Gold production increased by 22% year-over-year, with gold prices rising by 48%, resulting in gold revenue of $909 million, up 82% from $499 million in 2024 [3][6] - Adjusted EBITDA reached $464 million, a 185% increase from $163 million in 2024, demonstrating significant leverage to higher gold prices [6][3] - Adjusted net earnings were $241 million or $1.28 per share, up from $56 million or $0.35 per share in 2024, reflecting a 265% increase [3][6] - The company generated $127 million in free cash flow, with a cash balance of $392 million at year-end, up from $252 million in 2024 [7][9] Business Line Data and Key Metrics Changes - Segovia produced 228,000 ounces of gold in 2025, a 21% increase compared to 188,000 ounces in 2024, driven by a 17% increase in milling rates [10][11] - Marmato performed steadily and exceeded guidance, with construction of the CIP plant and development in the bulk mining zone ahead of schedule [16][19] - Segovia's all-in sustaining cost (AISC) was $1,534 per ounce, up 3% year-over-year, while total AISC was $1,705 per ounce, up 13% from 2024 [13][14] Market Data and Key Metrics Changes - The company expects production guidance for 2026 to be between 300,000 and 350,000 ounces, representing over 25% growth year-over-year [4] - At $4,400 gold, Segovia is projected to generate $650 million in all-in sustaining margin for the year [5] Company Strategy and Development Direction - The company aims to grow production to 500,000 ounces in the near term, with plans to advance Toroparu and Soto Norte to potentially reach 1 million ounces per year [24] - The transition to the main board of the New York Stock Exchange is expected to enhance visibility among institutional investors and improve trading liquidity [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ramp-up of operations, with expectations to achieve a steady-state run rate of 3,000 tons per day by Q4 2026 [27][28] - The company remains optimistic about achieving milestones for the Marmato project, with a total capital budget of $220 million for 2026 [39][40] Other Important Information - The company completed the Segovia processing plant expansion on time and on budget, and acquired the remaining 49% of Soto Norte for $80 million [24] - The company reported a decrease in total leverage to 1x, which is 2x lower compared to Q4 2024, indicating a strong balance sheet to support growth [23] Q&A Session Summary Question: Update on Segovia ramp-up and throughput expectations - Management indicated that the ramp-up is going well, with expectations to reach a steady-state of 3,000 tons per day by Q4 2026, dependent on underground development [27][28] Question: Guidance for Q1 production - The company is running around 2,600 tons per day at the end of Q4 and expects similar throughput in Q1 [28] Question: Contractor mining partner margin expectations - The company expects contractor mining margins to remain steady, with guidance indicating about 35% contractor mining in the mix [30] Question: Remaining capital expenditures for Marmato - The total capital budget for Marmato in 2026 is $220 million, bringing the total project cost to approximately $400 million [39][40] Question: Optimism about ramp-up of the CIP plant - Management expressed confidence that the milestones for the ramp-up are realistic and achievable [40]

All amounts are in United States dollars, unless otherwise stated. TORONTO, Feb. 18, 2026 (GLOBE NEWSWIRE) -- Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today reported its financial results for the quarter and year ended December 31, 2025. “Our full year production was lower than planned and costs higher due to a challenging year at our Canadian operations. Despite these challenges, we established a number of new financial records including record free cash flow of $352 million while i ...

Core Viewpoint - Pan African Resources reported record interim results driven by a significant increase in gold prices and over 50% production growth due to the ramp-up of new operations in South Africa and Australia [3][4]. Production Growth and Cost Guidance - Gold production increased by more than 50% in the first half of the year, with full-year guidance set at "275,000 ounces or more," expecting production to be closer to 300,000 ounces next financial year [5][7]. - The all-in sustaining cost (AISC) for the half year was reported at $1,874 per ounce, which is above previous guidance, with a revised full-year AISC range of $1,820-$1,870 per ounce [6][7]. Financial Performance - Revenue surged by 157% to $487 million, earnings increased by 207% to $148 million, and operating cash flow before items rose by 588% to $260 million [7]. - The company is entirely unhedged and anticipates being net debt-free by the end of the month, having reduced debt by over $180 million [4][7].

Financial Data and Key Metrics Changes - In 2025, Agnico Eagle achieved record financial results, with gold production of 3.45 million ounces and total cash costs of $979 per ounce, slightly above guidance due to higher royalty costs [12][13] - The company reported adjusted earnings of approximately $1.4 billion, or $2.70 per share, and record free cash flow of over $4.4 billion for the year [11][13] - Cash position increased by $1.9 billion, ending the year with $2.9 billion in cash, while repaying approximately $950 million in debt [13][14] Business Line Data and Key Metrics Changes - The Detour Lake mine is expected to deliver an additional 300-350,000 ounces per year through underground development, with a tripling of investment from $100 million to $300 million [7][10] - The Canadian Malartic Complex added 9 million ounces of reserves, with a fill-the-mill strategy aiming for an additional 400-500,000 ounces per year [8][9] - Hope Bay is projected to support a 400-425,000-ounce per year operation, with a 46% increase in inferred mineral resources [10][44] Market Data and Key Metrics Changes - Gold prices increased by $1,700 year-over-year, significantly benefiting the company's financial performance [2][3] - The company anticipates cash costs to rise slightly over $100 per ounce in 2026, primarily due to higher royalties and a stronger Canadian dollar [4][17] Company Strategy and Development Direction - Agnico Eagle aims to increase production by 20%-30% over the next decade, targeting over 4 million ounces of annual production by the early 2030s [5][6] - The company focuses on high-quality projects in stable jurisdictions, leveraging existing infrastructure to enhance returns [6][47] - Continued investment in exploration and growth projects is emphasized, with a disciplined approach to capital allocation [14][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term gold price outlook due to global structural, financial, and political factors [49] - The company is well-positioned to deliver meaningful leverage to higher gold prices while maintaining a strong financial position [14][46] - Management highlighted the importance of maintaining low turnover rates and strong relationships with employees to ensure productivity [61] Other Important Information - The company increased its quarterly dividend by 12.5% to $0.45 per share and plans to renew its normal course issuer bid with a purchase limit of up to $2 billion [14][16] - Agnico Eagle's exploration program completed nearly 1.4 million meters of drilling in 2025, with a goal to exceed 1.5 million meters in 2026 [36][37] Q&A Session Summary Question: M&A Activity and Current Offers - Management indicated that decisions regarding M&A are ultimately up to shareholders and emphasized the importance of creating value per share in any potential M&A activity [51][53] Question: Cost Productivity Initiatives - Some cost productivity initiatives are partially included in the 2026 AISC guidance, with flexibility for further improvements [58][59] Question: Capital Expenditure Projections - Capital expenditures are expected to remain elevated, with potential increases if projects like Hope Bay are approved [65][66] Question: Allocation of Excess Cash - Management is open to considering both buybacks and special dividends in a high gold price scenario, depending on cash generation [85] Question: Project Pipeline and Technical Capacity - Concerns about reaching limits in technical and human capital were acknowledged, with discussions on the potential recycling of projects if necessary [86]

Core Viewpoint - Alamos Gold Inc. expects to achieve a production target of approximately one million ounces annually by 2030, driven by the expansion of the Island Gold District and initial production from the Lynn Lake project [2][4][28]. Production Guidance - The company provided a three-year production guidance with total gold production expected to range from 570,000 to 650,000 ounces in 2026, increasing to between 650,000 and 730,000 ounces in 2027, and further to 755,000 to 835,000 ounces in 2028, representing a cumulative growth of 46% from 2025 [5][27]. - Production growth is anticipated to be driven by the ramp-up of underground mining rates at the Island Gold District and the start of production from Lynn Lake [6][28]. Cost Guidance - Total cash costs are projected to decrease from $1,020 - $1,120 per ounce in 2026 to $775 - $875 per ounce by 2028, reflecting a 24% reduction relative to 2025 [5][7]. - All-in sustaining costs (AISC) are expected to decline from $1,500 - $1,600 per ounce in 2026 to $1,200 - $1,300 per ounce by 2028, indicating an 18% decrease [5][30]. Capital Expenditures - Total capital expenditures for 2026 are expected to be between $850 million and $940 million, with significant investments in the Island Gold District Expansion and Lynn Lake project [18][19]. - Capital spending on the Lynn Lake project is projected to be between $140 million and $160 million in 2026, reflecting a decrease from previous guidance due to delays caused by wildfires [21][71]. Exploration Budget - The exploration budget for 2026 has increased to a record $97 million, a 35% increase from 2025, with a focus on expanded programs at the Island Gold District, Young-Davidson, and Lynn Lake [74][75]. Shareholder Returns - The company returned approximately $81 million to shareholders in 2025 through dividends and share buybacks, with expectations for increasing free cash flow supporting higher returns in the coming years [11][74].

Core Insights - Aris Mining Corporation (ARMN) is enhancing its position in the gold mining sector through improved operational performance and growth prospects driven by expansion initiatives [1][3] Group 1: Operational Performance - In Q3 2025, ARMN's total gold production reached 73,236 ounces, marking a 36.6% year-over-year increase [1][7] - The Segovia mine's performance improved significantly due to the commissioning of its second mill, which increased processing capacity and output [1][7] - Segovia processed 219,550 tonnes of gold in Q3, reflecting a 31.6% increase year-over-year [1][7] Group 2: Long-term Growth Prospects - The Marmato operation is identified as a long-term growth catalyst, with steady production from the upper mine and ongoing development of the Bulk mining zone [2][3] - First gold exploration in the Bulk mining zone is anticipated in the second half of 2026, which is expected to diversify ARMN's production base [2] Group 3: Market Position and Valuation - ARMN's shares have surged 278% over the past year, outperforming the industry growth of 117.4% [6] - The company is currently trading at a forward price-to-earnings ratio of 6.64X, significantly lower than the industry's average of 13.44X [9]

Core Viewpoint - Brightstar Resources has received full mining approvals for the Lord Byron project, enabling the company to accelerate gold production growth in the Laverton Hub [4]. Group 1: Project Approvals and Timeline - The Department of Mines, Petroleum and Exploration (DMPE) has approved the Lord Byron project, completing the environmental approval process after the Native Vegetation Clearing Permit was granted in July 2025 [1]. - Development of the Lord Byron open pit is planned to begin in the second half of calendar year 2026, with the construction of a new one million tonnes per annum carbon in leach processing plant in Laverton starting in the first quarter of 2026 [2]. - Mining operations at Lord Byron are expected to commence in the second half of calendar year 2026, allowing for stockpiling of mill feed prior to commissioning [3]. Group 2: Strategic Importance and Infrastructure - The Lord Byron open pit is strategically located less than 10km from the operational Fish underground mine, which facilitates streamlined and low capital expenditure development due to existing surface infrastructure [4]. - The rapid development of the Lord Byron open pit is aligned with the proposed mill construction, set to begin in the first half of calendar year 2026 [5]. Group 3: Exploration and Resource Potential - Recent exploration at Lord Byron has indicated significant potential for increasing the current mineral resource, with drill hole LBRC25001 returning a notable result of 32m at 7.16g/t Au, located directly below the proposed south open pit [5]. - The Lord Byron project has a history of mining activity, previously operated by Crescent Gold and Focus Minerals before being acquired by Lord Byron Mining in 2019 [6]. - Brightstar continues its exploration efforts with ongoing drilling at Sandstone, supporting a pre-feasibility study as part of a 100,000m exploration program [7].

Financial Performance - Asante Gold Corporation reported revenue of $100.8 million for Q2 2026, an 11% decrease from $113.5 million in Q2 2025, primarily due to a lower volume of gold sold [3][28] - The total comprehensive loss for Q2 2026 was $61 million, compared to a loss of $20 million in Q2 2025 [3][28] - Adjusted EBITDA for Q2 2026 was -$26.3 million, down from $19.8 million in the same period last year [3][29] Operational Results - Gold equivalent production in Q2 2026 was 28,213 ounces, a decrease from 46,979 ounces in Q2 2025, attributed to capital constraints and lower ore grades [3][17] - The average gold price realized per ounce increased to $3,130 in Q2 2026 from $2,338 in Q2 2025 [3] - All-in sustaining costs (AISC) rose to $4,849 per ounce in Q2 2026, compared to $1,921 per ounce in Q2 2025, driven by increased stripping ratios and higher sustaining capital expenditures [3][18] Production Outlook - The company anticipates rapid production growth at both Chirano and Bibiani, with expected production of 125,000 to 130,000 ounces of gold from each operation for the current fiscal year [6] - The consolidated production target for 2026 remains at approximately 450,000 ounces, representing a more than 70% increase over 2025 guidance [6] - The commissioning of the new sulphide treatment plant at Bibiani is expected to significantly improve gold recovery from 60% to up to 92% [11][22] Growth Initiatives - At Bibiani, growth catalysts include the commissioning of the sulphide treatment plant and ongoing plant throughput expansion, which aims to increase processing capacity from 3.0 million tonnes per year to 4.0 million tonnes per year [7] - Chirano is also implementing process plant improvement projects to increase annual production rates and enhance gold recovery [8] - Exploration activities are ramping up at both mines, with advanced drilling programs aimed at developing new satellite pits and supporting future mineral resource growth [15][16] Mine Specifics - At Bibiani, total material mined increased by 253.6% in Q2 2026 compared to Q2 2025, reflecting elevated stripping requirements [21] - Gold equivalent production at Bibiani was 8,257 ounces in Q2 2026, down from 16,452 ounces in the same period last year, due to lower grade plant feed [22] - At Chirano, gold equivalent production was 19,956 ounces in Q2 2026, a decrease from 30,527 ounces in Q2 2025, primarily due to lower ore grades and reduced ore throughput [27]