Core Viewpoint - Denarius Metals Corp. has reported its first revenues from the Zancudo Project in Colombia, marking a significant milestone as the company ramps up production and begins generating operating cash flow [1][2][3]. Financial Performance - The company filed its unaudited interim financial statements for Q2 and H1 2025, showing a net loss of $5.0 million ($0.05 per share) in Q2 2025, compared to a net income of $8.5 million ($0.13 per share) in Q2 2024 [10]. - For the first half of 2025, the net loss totaled $9.3 million ($0.09 per share), compared to a net loss of $2.6 million ($0.04 per share) in H1 2024 [10]. - The average realized gold price was $3,303 per ounce, with a total cash cost of $2,260 per ounce sold, resulting in a margin of $1,043 per ounce, equivalent to approximately 31% of gold revenue [4][11]. Production and Operations - Mining operations at the Zancudo Project commenced in April 2025, with the first shipment of 64 tonnes of crushed material sold to Trafigura in late June 2025, containing approximately 19 ounces of gold and 377 ounces of silver [2][3]. - In July 2025, the company delivered 266 tonnes of material to port, with grades averaging 8.7 g/t gold and 224.1 g/t silver, resulting in approximately 74 ounces of gold and 1,913 ounces of silver [5]. - The company expects to increase the frequency and quantity of shipments as mining operations ramp up [5]. Project Developments - The Aguablanca Project in Spain has received all necessary permits to restart mining operations, with refurbishment of the processing plant being carried out by METSO Spain S.A. [6][7]. - The company anticipates that the Aguablanca underground mine will be back in production by mid-2026 [7]. Liquidity and Financing - Denarius Metals raised a total of $7.8 million through two private placements in the first half of 2025, increasing its cash position to $4.4 million as of June 30, 2025, up from $1.1 million at the end of 2024 [8][12]. - The company has access to an additional $6.5 million through a prepayment agreement with Trafigura related to the Zancudo Project [12]. - A consent solicitation process was completed in June 2025, allowing the company to issue shares instead of cash for interest payments on its Convertible Debentures [9].

Core Insights - The latest episode of The MiningNewsWire Podcast features Kimberly Ann, CEO of Lahontan Gold Corp, discussing the company's strategic approach and potential in Nevada's Walker Lane, a prominent mining region [2][4][6] Company Overview - Lahontan Gold Corp is a Canadian mine development and exploration company focused on gold and silver assets in Nevada [2][8] - The company's flagship property, the Santa Fe Mine, has a history of production and significant mineral resources [8] Strategic Focus - Kimberly Ann emphasized a business-first mindset, focusing on profitability and successful outcomes rather than emotional attachment to projects [6] - The Santa Fe Mine has a reported 2 million ounces of gold, with plans to fast-track its development [5][9] Historical Context - The Santa Fe Mine operated from 1988 to 1994, producing 359,202 ounces of gold and 702,067 ounces of silver using open-pit heap leach methods [8] - The mine was closed due to economic factors when gold prices were at $340, leaving substantial resources untapped [5] Resource Estimates - The Santa Fe Mine has an Indicated Mineral Resource of 1,539,000 ounces of gold equivalent and an Inferred Mineral Resource of 411,000 ounces of gold equivalent [8][10] - The resources are reported based on a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 g/t AuEq for non-oxide resources [10] Future Plans - Lahontan Gold Corp plans to advance the Santa Fe Mine project towards production and update its Preliminary Economic Assessment in 2025 [9]

Core Viewpoint - Troilus Gold Corp. has appointed Mr. Rob Doyle as Strategic Advisor to the CEO and Chairman, effective August 1, 2025, to provide strategic, financial, and operational guidance as the Troilus Project advances towards construction and long-term production [1][3]. Group 1: Appointment and Experience - Mr. Doyle has over 25 years of experience in international mining finance, corporate strategy, and project development, previously serving as CFO of Pan American Silver Corp. and SilverCrest Metals Inc. [2][4] - His tenure at Pan American Silver Corp. included significant growth, leading the company to become a multi-billion-dollar producer and overseeing large-scale M&A transactions [2][4]. Group 2: Role and Responsibilities - In his advisory role, Mr. Doyle will collaborate with the executive and finance teams to ensure operational readiness, robust internal controls, and a disciplined financial strategy [3]. - His responsibilities encompass strategic support on financial governance, project financing, risk management, and systems optimization to position the company for construction and future growth [3]. Group 3: Project Development - Troilus is advancing one of Canada's largest undeveloped gold-copper projects in Quebec, with a Feasibility Study completed in 2024 and an Environmental and Social Impact Assessment submitted recently [5][6]. - The company is targeting a construction decision in 2026, with key project financing milestones progressing, including an indicative offtake agreement with Aurubis [5].

Financial Data and Key Metrics Changes - In 2024, consolidated production was 135,884 gold equivalent ounces, a decrease of 12% compared to 2023, while the selling price of production increased by 24% [3] - Adjusted EBITDA rose to $29.2 million or $0.57 per share, a 3.8 times increase from $7.7 million or $0.16 per share in 2023 [4] - The company reported a net loss of $43.7 million, primarily due to equity accounting and significant expenditures at Los Azules [4][5] - Debt increased from $40 million to $130 million through a convertible debenture, with cash reserves at approximately $62 million [8] Business Line Data and Key Metrics Changes - Exploration expenses totaled $16.5 million, leading to an increase in indicated and inferred resources at the Fox complex to over 2 million ounces, with plans to double production to 60,000 ounces by 2027 [6] - The investment in the San Jose Mine is expected to yield dividends shortly, marking a positive change after years without dividends [7] Market Data and Key Metrics Changes - The company noted that higher metal prices for gold and silver are positively impacting operations [7] - The current market sentiment towards copper is positive, which is crucial for the Los Azules project [5] Company Strategy and Development Direction - The company is focusing on advancing the Los Azules project towards a feasibility study, with plans for an IPO contingent on market conditions [5] - Exploration at the Fox complex is expected to significantly increase production, with potential for a four to five-fold increase in output [6] - The company is also exploring opportunities for mine life extension at Gold Bar and Timberline properties [16][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing the potential for increased production and cash flow due to high gold prices [21] - The company is actively working to ramp up production to take advantage of current high prices [21] - Management acknowledged the challenges in permitting processes but remains hopeful for progress in both Canada and Mexico [70][74] Other Important Information - The Los Azules project has achieved significant milestones in environmental safety and regulatory compliance, with no fines or infractions reported [11] - The company is engaging with indigenous groups regarding property interests, indicating a proactive approach to community relations [14] Q&A Session Summary Question: Opportunities for mine life extension at Gold Bar - The COO provided insights on ongoing exploration work and permitting timelines for Timberline properties [16][18] Question: Future of royalty portfolio - Management indicated interest in both expanding and monetizing the royalty portfolio when appropriate [20] Question: Impact of high gold prices on mine planning - The COO confirmed that high gold prices are prompting a reevaluation of production plans to maximize cash flow [21] Question: Timeline for Los Azules approval - Management estimated a timeline of two to four months for approval under RIGI [26] Question: Concerns about Rio Tinto's involvement in McEwen Copper - Management reassured that protections are in place to prevent Rio Tinto from exerting undue influence [60] Question: Progress at Stock Mine - The COO detailed the current status of drilling and ramp construction, indicating progress despite permitting delays [68][70] Question: Dividend expectations from San Jose Mine - Management confirmed a dividend of just under $5 million is expected, with the company's share being over $2 million [81]