Core Viewpoint - K92 Mining Inc. reported strong financial and operational results for Q3 2025, achieving record production and revenue, while successfully completing the Stage 3 Expansion Process Plant under budget, positioning the company for future growth [5][6][8]. Production - The company produced 44,323 ounces of gold equivalent (AuEq), including 42,244 ounces of gold, 1,323,538 pounds of copper, and 34,831 ounces of silver in Q3 2025 [5]. - The quarterly ore processed was 137,172 tonnes, with a total ore mined of 152,485 tonnes, achieving a head grade of 11.2 grams per tonne (g/t) AuEq [5][11]. - Metallurgical recoveries were strong, with gold recovery at 95.0% and copper recovery at 94.6% [5][11]. Financials - K92 reported record quarterly revenue of $177.5 million, a 45% increase from Q3 2024, and a net income of $85.7 million, up 84% from the previous year [5][11]. - The company achieved a record cash and cash equivalents total of $185.4 million, including a net cash position of $131.2 million [5][8]. - Cash costs were reported at $694 per ounce of gold and all-in sustaining costs (AISC) at $1,254 per ounce of gold [5][11]. Expansion and Development - The Stage 3 Expansion Process Plant, with a capacity of 1.2 million tonnes per annum, was completed under budget, with commissioning expected to be finalized in November 2025 [5][6]. - As of September 30, 2025, 90% of the Stage 3 Expansion capital had been spent or committed, remaining on budget [5][8]. - Key construction projects for the pastefill plant and surface tailings filtration plant are progressing, with commissioning scheduled for mid-2026 [5][8]. Exploration - The company is actively exploring the Arakompa project, reporting significant porphyry-style mineralization and ramping up exploration activities with up to five rigs operating [5][9]. - Initial results from the Wera prospect indicate a large mineralized system, with drilling now underway [5][9]. - K92 plans to deliver a maiden mineral resource estimate for Arakompa in mid-2026 [5][9].

Financial Data and Key Metrics Changes - IAMGOLD reported record mine site free cash flow of $292.5 million in the third quarter, driven by high production levels and gold prices [9][12] - The company's net debt decreased by $210.7 million to $813.2 million at the end of the third quarter, with total liquidity of approximately $707.2 million [9][11] - Revenues from continuing operations totaled $706.7 million from sales of 203,000 ounces at an average realized price of $3,492 per ounce [12][13] Business Line Data and Key Metrics Changes - Côté Gold produced a record 106,000 ounces in the third quarter, contributing significantly to the overall production of 190,000 ounces [6][7] - Essakane produced 108,000 ounces on a 100% basis, with production rebounding due to higher grades [28][30] - Westwood produced 23,000 ounces, tracking below the guidance range due to challenges in mining conditions [24][26] Market Data and Key Metrics Changes - The strong gold market has positively impacted IAMGOLD's financial performance, coinciding with the advancement of its assets [4][9] - Royalty costs increased by 61% on a per-ounce basis due to the strong gold market and new royalty regimes [30] Company Strategy and Development Direction - IAMGOLD is focused on consolidating its land position in the Chibougamau district through acquisitions, aiming to create a multi-asset gold mining complex [32][34] - The company plans to expand Côté Gold, targeting a significantly larger ore base and higher throughput [22][23] - A share buyback program has been approved, reflecting management's confidence in the company's long-term value [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving production guidance of 735,000-825,000 ounces for the year, with expectations for strong cash flow in the fourth quarter [7][8] - The company is committed to improving safety and operational efficiencies, with a focus on reducing costs and enhancing production [6][21] - Management acknowledged inflationary pressures but emphasized productivity improvements as a key focus for 2026 [54][58] Other Important Information - IAMGOLD's total recordable injury rate improved by 15% year over year, highlighting the company's commitment to safety [6] - The company is working on a new technical report and mine plan for Côté Gold, expected to be released in late 2026 [36] Q&A Session Summary Question: Anticipated cost improvements with the secondary crusher installation at Côté Gold - Management indicated that the secondary crusher will help reduce costs significantly, aiming for a target of $12 per ton in the future [37][39] Question: Share buyback program details - The company plans to allocate capital in thirds, focusing on internal growth, debt repayment, and share buybacks simultaneously [40][41] Question: Clarification on the timeline for the new technical report - Management confirmed that the next Côté Gold expansions will be disclosed in late 2026, correcting any previous miscommunication [42] Question: Cost expectations for Côté Gold moving forward - Management expects to see improvements in mining costs as the aggregate plan is phased out, with a focus on reducing rehandling and improving operational efficiencies [43][54] Question: Reserve pricing assumptions for future mine plans - The company plans to maintain conservative pricing assumptions for reserves, with a focus on maximizing cash flow [45][46]

Core Points - K92 Mining Inc. has produced its first commercial grade gold-copper-silver concentrate and plans to start shipments from its new 1.2 million tonnes per annum Stage 3 Expansion process plant at the Kainantu Gold Mine in Papua New Guinea [1] - The Official Inauguration Ceremony on October 16 was attended by key stakeholders, including the Prime Minister of Papua New Guinea, who witnessed a gold pour producing 458 ounces of doré [2][13] - The Stage 3 Expansion Process Plant is on track for commissioning completion in the first half of Q4 and was delivered under budget, with 90% of the budget spent or committed as of September 30, 2025 [3] - The CEO of K92 expressed satisfaction with the achievement of inaugural production, highlighting the collaboration of the workforce and partners [4] - The company aims to advance towards Tier-1, mid-tier producer status, emphasizing the long-term benefits of the Stage 3 Expansion for employees and communities [6] Company Overview - K92 Mining Inc. is engaged in the production of gold, copper, and silver at the Kainantu Gold Mine in Papua New Guinea and is focused on exploration and development of mineral deposits in the area [7] - The company declared commercial production from Kainantu in February 2018 and is in a strong financial position, working towards becoming a Tier 1 mid-tier producer through ongoing plant expansions [7]

Financial Data and Key Metrics Changes - Revenues increased by 128% year over year, reaching $7 million in Q1 2025, which is almost 50% of the total revenue reported for the entire fiscal year 2024 [3][4] - Gross profit rose by 302% year over year to $2.4 million, with gross margin improving from 19% to 34% [3][5] - Net income reported was over $5 million, up 269% year over year [3] Business Line Data and Key Metrics Changes - Antimony sales were $5.9 million in Q1 2025, an increase of 140% year over year, primarily due to higher average sales prices [7][8] - Zeolite sales reached $1.1 million, up 82% year over year, with a 67% increase in sales volume quarter over quarter [10] - Antimony income from operations increased by $900,000 to $1.1 million for Q1 2025 [8] Market Data and Key Metrics Changes - The antimony business experienced strong demand, driven by the need for critical minerals across various industries, including government demand [9] - The zeolite business improved operational efficiency, leading to reduced losses from operations, which improved by $350,000 year over year [10] Company Strategy and Development Direction - The company is focused on expanding its antimony operations in Alaska and Canada, with plans to source antimony ore from new suppliers and expand processing capabilities [6][9] - The strategy includes improving operational efficiency and capitalizing on the current demand for critical minerals [6][12] - The company aims to vertically integrate by securing its own supply of antimony, reducing reliance on international sources [28][41] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting the potential for increased revenues and improved margins as operations expand [12][43] - The company anticipates a revenue guidance tightening to $40 million to $50 million for the fiscal year 2025 [44] - Management emphasized the importance of securing a domestic supply of antimony to enhance operational stability and pricing power [28][66] Other Important Information - The company has engaged new geological experts to enhance exploration efforts in Alaska and Ontario [14][15] - The company is actively pursuing digital marketing strategies to broaden its investor base and increase visibility [35][36] - BlackRock has increased its position in the company to 5.1%, indicating strong institutional interest [38] Q&A Session Summary Question: How are you able to complete the 6X expansion plans for Thompson Falls by the end of the year? - Management confirmed plans to complete the expansion by year-end, potentially ahead of schedule, without affecting existing operations [46][47] Question: Can you comment on the permitting timeline for ore from Alaska? - Management expects permits to be approved within a couple of weeks, with ore potentially being trucked to Montana by August or September [49][50] Question: Will you take on refining from other mining operations? - Management indicated that increased refining capacity would allow for future partnerships, but current operations are focused on their own supply [71] Question: What is the company's acquisition strategy? - The company is looking for opportunities that can be accessed quickly, focusing on critical minerals that align with their operational capabilities [60][62] Question: Can you share progress on the cobalt play in Canada? - Management noted high-grade cobalt and nickel findings, with plans for further exploration and potential partnerships [76][79]

Financial Data and Key Metrics Changes - Revenues increased by 128% year over year, reaching $7 million in Q1 2025, which is almost 50% of the total revenue reported for the entire fiscal year 2024 [2][3] - Gross profit rose by 302% year over year to $2.4 million, with gross margin improving from 19% to 34% [2][4] - Net income reported was over $5 million, up 269% year over year [2] Business Line Data and Key Metrics Changes - Antimony sales were $5.9 million in Q1 2025, an increase of 140% year over year, primarily due to higher average sales prices [6] - Zeolite sales reached $1.1 million, up 82% year over year, with a 67% increase in sales volume quarter over quarter [9] Market Data and Key Metrics Changes - The antimony business saw a significant increase in demand, driven by the need for critical minerals across various industries, including government contracts [7] - The zeolite business improved due to operational efficiencies and increased sales volume, despite previous maintenance issues [10] Company Strategy and Development Direction - The company is focused on expanding its antimony operations in Alaska and Canada, with plans to source antimony ore from new suppliers and expand processing capabilities [5][8] - The strategy includes improving operational efficiency and capitalizing on the growing demand for critical minerals [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, highlighting the potential for increased revenues and improved margins as operations expand [11][39] - The company anticipates a revenue guidance tightening to $40 million to $50 million for 2025, reflecting confidence in operational improvements [41] Other Important Information - The company has engaged new geological experts to enhance exploration efforts in Alaska and Ontario [13][14] - The company is actively working on its marketing and investor relations strategy to attract long-term institutional capital [28][30] Q&A Session Summary Question: How will the 6X expansion plans for Thompson Falls be completed by the end of the year? - Management confirmed that the expansion is on track to be completed by the end of the year without affecting existing operations [44][46] Question: Can you comment on the permitting timeline for ore from Alaska? - The company expects to begin trucking ore into Montana by August or September, pending permit approval [47][49] Question: What are the implications if the Tick Red's dog zinc mine faces tariff issues? - Antimony is exempt from tariffs, and the company does not foresee issues affecting their operations [51] Question: Are there competing US-based companies nearing smelting capabilities? - Management indicated that while there are companies exploring this, the challenges of securing supply make it difficult for new entrants [52][53] Question: What is the company's acquisition strategy? - The company is focused on quick-access projects and is looking for opportunities that can be developed rapidly [58][60] Question: What are the expectations for the zeolite business in 2025? - The company plans to maintain its zeolite operations while focusing on expanding sales in various markets [79]