Core Viewpoint - Belo Sun Mining Corp. faces a legal setback as the Federal Court of Altamira, Brazil, denied its request for provisional compliance regarding the Construction License for the Volta Grande Gold Project, which remains suspended pending further compliance with Indigenous consultation requirements [1][2][4]. Legal and Regulatory Summary - The Construction License for the Volta Grande Gold Project is legally valid but currently suspended due to insufficient compliance with conditions set by the Federal Court of Appeals, specifically regarding Indigenous consultation and the completion of an Indigenous Component Study [2]. - The Federal Court's ruling referenced recent technical opinions from Brazil's National Indigenous Peoples Foundation (FUNAI) and a report from the Federal Public Prosecutor's Office, indicating that the Company has not yet demonstrated adequate compliance [2]. Company Response and Future Actions - The Company reaffirms its commitment to comply with all environmental, social, and regulatory requirements and plans to evaluate and pursue appropriate legal remedies [3][5]. - The CEO of Belo Sun expressed confidence that the Court's interpretation differs from the original requirements and does not affect the project's underlying merits or the strength of the permitting framework [4]. - The Company intends to appeal the decision to the Federal Regional Court, which has previously confirmed that Belo Sun meets the necessary requirements for lifting the license suspension [5]. Project Overview - The Volta Grande Gold Project is located in Para State, Brazil, and is a key focus for Belo Sun Mining Corp., which is dedicated to advancing and expanding this 100% owned gold project [6].

Core Viewpoint - Kingsrose Mining faces a setback at its Penikat Project in Finland due to the Northern Finland Administrative Court overturning the exploration permit, which halts the winter drilling program [1][2][3] Permit Issues - The court's decision, announced on December 22, 2025, was based on a procedural error in the original permitting process identified by Tukes, the Finnish Mining Authority [2] - The matter has been returned to Tukes for reconsideration, preventing the planned winter drilling program from proceeding as scheduled [3] Company Response - Kingsrose is proactively addressing the situation by planning to apply for a Derogation Permit and submit a revised exploration permit application [4] - The company expects to provide an update on the permitting progress by April 2026 [4] Environmental Considerations - Kingsrose noted that previous Natura assessments and environmental studies were thorough, and the permit documents included an adequate environmental impact assessment [5] - However, Tukes failed to clearly define 'no-go' areas and did not provide sufficient detail regarding company requirements or financial guarantees [5] Project Potential - Despite the permitting setback, Kingsrose remains optimistic about the Penikat project's potential as a high-grade PGE-Ni-Cu project, with surface-outcropping reefs along a 9–11 km strike [6] - The company believes that insights gained from Area 1 will aid in the permitting efforts for Areas 2 to 5 [6] Strategic Alliances - Kingsrose has a history of forming strategic alliances to advance exploration projects, including a recent exploration alliance with BHP Group to collaborate in Norway and Finland [7] Investment Thesis - The company faces a short-term hurdle with the permitting delay at Penikat, but its proactive approach and the project's high-grade potential present a compelling investment thesis [8] - Success will depend on securing the necessary Derogation and revised permits to unlock the value of the PGE-Ni-Cu project [8]

Core Points - Paramount Gold Nevada Corp. announced the release of the draft Environmental Impact Statement (DEIS) for its Grassy Mountain gold project in Oregon, marking a significant milestone in the permitting process [1][4] - The DEIS assesses potential environmental impacts and outlines mitigation measures, initiating a 30-day public comment period [2][3] - The final Environmental Impact Statement (EIS) and the Federal Record of Decision (ROD) are expected to be published in December 2025, completing the federal permitting process [3] Company Overview - Paramount Gold Nevada Corp. is a U.S.-based precious metals exploration and development company focused on creating shareholder value through the exploration and development of mineral properties [5] - The company holds a 100% interest in three projects: Grassy Mountain, Sleeper, and Bald Peak, with Grassy Mountain covering approximately 8,200 acres [6] - The Sleeper Gold Project is located in Northern Nevada and includes the former producing Sleeper mine, while the Bald Peak Project is drill-ready and consists of approximately 2,260 acres [7]