Core Insights - Desert Gold Ventures Inc. has released an updated Preliminary Economic Assessment (PEA) for its SMSZ Gold Project in Mali, indicating a robust economic outlook with an after-tax NPV of USD $61 million and an IRR of 57% at a gold price of USD $2,850 per ounce [2][4][10] Project Overview - The PEA includes the Barani and Gourbassi deposits, projecting an increase in production capacity from 18,000 tonnes per month to approximately 36,000 tonnes per month over a mine life of 10 years [3][6] - The total gold production is estimated at 130,700 ounces, with 113,100 ounces expected to be recoverable through a gravity and CIL processing method [4][25] Financial Metrics - At a gold price of USD $2,850 per ounce, the project shows an after-tax NPV of USD $61 million and an IRR of 57%, with a payback period of 2.5 years [4][10] - If the gold price rises to USD $4,070, the after-tax NPV increases to USD $124 million, with an IRR of 101% and a payback period of 2.1 years [5][10] Production and Cost Estimates - The average all-in sustaining cost (AISC) is estimated at USD $1,137 per ounce, with total cash costs at USD $29.70 per tonne processed [7][22] - The project anticipates a cumulative cash flow of USD $126 million after tax over the 10-year mine life [11] Mining and Processing Strategy - The mining plan is structured in two phases, starting with Barani East and transitioning to Gourbassi, utilizing a modular processing plant to minimize initial capital costs [6][58] - The average strip ratio for the combined operations is estimated at 2.60:1, with a total of approximately 11 million tonnes of waste rock and 4.24 million tonnes of ore planned to be mined [9][37] Mineral Resource Estimate - The current PEA focuses on oxide and transitional mineralization, with total Measured and Indicated Resources at 11.12 million tonnes grading 0.94 g/t Au for 336,800 ounces [27][30] - The study excludes deeper sulfide mineralization, which may provide additional resources for future evaluations [28][33] Exploration and Future Plans - The company plans to continue exploration across Barani, Gourbassi, and Gourbassi East, with multiple near-mine targets identified for potential resource expansion [8][60] - Advanced discussions are underway with potential partners for funding to commence construction at Barani East [60]

Heliostar Announces PEA for Ana Paula Underground with Strong Economics and Sustainable Cash GenerationNovember 06, 2025 6:30 AM EST | Source: Heliostar Metals Ltd.Highlights:Base Case shows US$426.0M post tax NPV5, 28.1% IRR, with a 2.9 year payback at a US$2,400/oz gold price Upside Case shows US$1,012M post tax NPV5, 51.3% IRR, with a 1.9 year payback at a US$3,800/oz gold price874,700 oz of gold produced over a nine year mine life averaging 101 koz/yr after initial ramp-up Life-of-mine ave ...

Project Overview - The Boumadine PEA presents a district-scale, low-cost, precious metals growth opportunity [1, 2] - The project has a low initial CAPEX of $446 million [33] and a low AISC of $1,021/oz AuEq [33, 96] - The project has a mine life of 11 years [34] Financial Highlights - The project boasts a pre-tax NPV(5%) of $2.2 billion and a post-tax NPV(5%) of $1.5 billion, using base case metal prices of $2,800/oz gold and $30/oz silver [33] - The IRR is 69% pre-tax and 47% post-tax, with a payback period of 1.3 years pre-tax and 2.1 years post-tax [33] - The NPV:Capex ratio is 5:1 pre-tax and 3:1 post-tax [33] - The Life of Mine (LOM) revenue is projected at $7.0 billion, with an EBITDA of $3.4 billion and a Free Cash Flow (FCF) of $2.8 billion pre-tax and $2.0 billion post-tax [38] Production and Resources - The project anticipates an average annual production of 401,000 oz AuEq in the first 5 years and 328,000 oz AuEq over the LOM [73] - The updated Mineral Resource Estimate (MRE) in February 2025 showed an increase of 120% in indicated and 19% in inferred contained metal in koz AgEq compared to the 2024 estimate [56]

Core Viewpoint - LaFleur Minerals is advancing its twinned-hole drilling program at the Swanson Gold Deposit to support a Preliminary Economic Assessment (PEA) for restarting gold production at the Beacon Gold Mill, leveraging high gold prices and historical drilling data to enhance economic viability [1][7][17]. Drilling Program Details - The twinned-hole drilling program will consist of 10 holes aimed at collecting data to confirm the economic viability of a potential open-pit operation, targeting areas near historical drill hole locations [2][3]. - Historical drilling data includes over 36,000 meters from 242 drill holes, with significant high-grade intervals such as 69.3 meters at 3.03 g/t Au and 51.0 meters at 3.46 g/t Au [2][9]. Historical Data Validation - The drilling program aims to validate historical drilling conducted by Lac Minerals, Phoenix Matachewan Mines, and Agnico-Eagle Mines, confirming the continuity of high-grade shear zones and improving the mineral resource estimate [3][6]. - The confirmation drilling will also address gaps in the existing resource model, potentially enhancing the estimate of total gold ounces and reducing the strip ratio [3][6]. Strategic Location and Infrastructure - The proximity of the Swanson Gold Deposit to the Beacon Gold Mill, located in the Abitibi Greenstone Belt, positions the company favorably within a major gold-producing region [4][19]. - The Beacon Gold Mill, a recently modernized facility capable of processing 750 tonnes per day, is undergoing upgrades and repairs to prepare for recommissioning [13][14]. Economic Potential - The current gold price, hovering around US$4,000 per ounce, significantly enhances the economic appeal of restarting the Beacon Gold Mill, offering strong margins and accelerated payback potential [17]. - The company estimates approximately 10,000-20,000 tonnes of mineralized stockpiles available for initial trial runs, which will help fine-tune operations before full production [15][19]. Market Context - Recent regional mergers and acquisitions indicate that major global producers are entering the Val-d'Or camp to secure long-life, low-risk gold assets, validating the strategic importance of LaFleur's projects [15][19]. - The combination of the Beacon Gold Mill and Swanson Gold Project may be undervalued compared to district pricing precedents established through regional M&A activity [15].

Aldebaran Resources has released the preliminary economic assessment (PEA) for its Altar copper-gold project in San Juan, Argentina, outlining a mine life of 48 years. Prepared in accordance with National Instrument 43-101 standards, the Altar copper-gold project PEA presents the base-case scenario featuring a concentrator with a capacity of 60,000 tonnes (t) per day. The facility will process mineralised material sourced from both open-pit and underground operations. The PEA results are presented on a ...

Core Insights - Cygnus Metals Limited announces the promotion of Nick Kwong from COO to President/CEO, effective December 12, 2025, following Ernest Mast's transition to Non-Executive Director [1][4] - The company is focusing on a dual strategy of exploration/resource growth and updating the 2022 Preliminary Economic Assessment (PEA) [3] Leadership Transition - Nick Kwong has over 20 years of experience in mining engineering, having served as COO of the Chibougamau Project since 2022 and held senior roles at Maaden and New Gold Inc. [2] - Ernest Mast has played a crucial role in the Chibougamau Project and will maintain his influence as a Non-Executive Director [4] Strategic Focus - The updated PEA will incorporate growth in mineral resources, including the high-grade Golden Eye deposit, and improved commodity prices for copper, gold, and silver [3] - Following the PEA update, the company will shift its focus to completing a feasibility study and obtaining environmental approvals [3] CEO Contract Details - Nick Kwong's contract as CEO will commence on December 12, 2025, with no fixed term and an annual consultancy fee of C$300,000 [6] - The company will issue 3,000,000 performance rights to Mr. Kwong, with specific vesting conditions tied to the conversion of mineral resources and share price performance [7]

XXIX Metal Corp. Thanks Chapais Residents for Active Participation in Opemiska Project ConsultationsOctober 24, 2025 6:00 AM EDT | Source: XXIX Metal Corp.Highlights:XXIX met with Chapais citizens and Chapais City Council on October 21 and 22 as part of its voluntary pre-consultation process.Opemiska is a transformative project for Chapais and the region, with estimated investments of over C$3.5 billion over ~20 years.XXIX to continue with open dialogue and citizen engagement with upcoming the ...

Core Insights - Lara Exploration Ltd. announced the results of an independent Preliminary Economic Assessment (PEA) for its Planalto Copper-Gold Project, indicating strong technical and economic viability for the project [1][4][5] Project Overview - The Planalto Project is located in the Carajás mining district, Pará State, Brazil, and is 100% owned by the company [1][5] - The PEA estimates production of 560,000 tonnes (1.2 billion pounds) of copper and 111,000 ounces of gold over an 18-year mine life [5][6] - The project features a conventional open-pit mining approach with a life of mine (LoM) strip ratio of 2:1 [5][7] Economic Metrics - The after-tax net present value (NPV) is estimated at US$378 million at an 8% discount rate, with an internal rate of return (IRR) of 21% and a payback period of 3.5 years [5][48] - Initial capital expenditures are projected at US$546 million, with sustaining capital costs of US$170 million [5][48] - Average all-in sustaining costs (AISC) are estimated at US$5,920 per tonne of payable copper [5][48] Production and Processing - The processing plant is designed to operate at an annual rate of 8 million tonnes of run-of-mine (RoM) feed, achieving recoveries of 91% for copper and 51% for gold [5][22] - The project will produce a clean chalcopyrite concentrate grading 28% copper for international smelting [5][7] Infrastructure and Location - The project benefits from excellent local infrastructure, including access to high-tension power lines and proximity to major mining towns [5][25] - The Brazilian grid is predominantly powered by renewable energy sources, which will help reduce the project's carbon footprint [5][25] Regulatory and Environmental Considerations - The company plans to apply for various licenses, including a Preliminary License in Q3 2026 and an Installation License in Q4 2028, with operations expected to start in 2030 [28][29] - An environmental impact assessment (EIA) is underway, expected to be completed by Q2 2026 [29][30] Mineral Resource Estimate - The PEA is based on a Mineral Resource Estimate (MRE) dated July 3, 2024, which includes both Indicated and Inferred resources [9][56] - Approximately 76% of the total mineral resources are classified as Inferred, which are considered too speculative to be categorized as Mineral Reserves [9][56] Future Opportunities - The company sees potential for further exploration and resource growth within the Planalto license area, particularly in the newly acquired Atlantica Exploration Licence [6][58] - There are opportunities to optimize processing and reduce environmental impacts through advanced tailings management techniques [54][58]

Core Insights - Fortuna Mining Corp. has released a Preliminary Economic Assessment (PEA) for the Diamba Sud Gold Project in Senegal, indicating strong project economics with a gold price of $2,750 per ounce, resulting in an after-tax NPV5% of $563 million and an IRR of 72% [2][30][41]. Project Overview - The PEA supports the development of an open-pit mine and a conventional carbon-in-leach (CIL) processing plant, projecting an average annual production of 147,000 ounces of gold in the first three years at an All-In Sustaining Cost (AISC) of $904 per ounce [2][5][30]. - The total mineralized material mined is estimated at 17.75 million tonnes, containing 932,000 ounces of gold, with a life of mine (LOM) of 8.1 years [5][10]. Financial Metrics - The construction capital cost is estimated at approximately $283.2 million, with a payback period of ten months [3][30]. - Average operating cash costs over the LOM are projected at $1,081 per ounce, with AISC averaging $1,238 per ounce [6][30]. Exploration and Development - Ongoing exploration is expected to enhance the LOM production profile beyond a decade, with five drill rigs currently active [4][8]. - A supplementary budget of $17 million has been approved to advance early construction works and detailed engineering activities [4][40]. Environmental and Permitting - Fortuna has filed an Environmental and Social Impact Assessment (ESIA) as part of the permitting process, marking a significant milestone [38]. - The company anticipates applying for an exploitation permit before the expiration of its exploration permit in June 2026 [39]. Next Steps - The Definitive Feasibility Study (DFS) is expected to be completed by the end of the second quarter of 2026, with a construction decision anticipated shortly thereafter [41][42].

Core Viewpoint - Sage Potash Corp. has completed a positive Preliminary Economic Assessment (PEA) for its Sage Plain Potash Project, indicating a robust economic potential with an after-tax Net Present Value (NPV) of $502 million and an Internal Rate of Return (IRR) of 39% [1][4][6]. Economic Overview - The PEA estimates an unlevered after-tax NPV of $502 million and a 39% IRR over a 20-year project life [6][15]. - The project is expected to generate cumulative free cash flow of $1.26 billion, with a payback period of 5 years and cash flow positive within 2 years [6][15][21]. - Initial capital expenditures (CapEx) are projected at $155 million, which includes $26 million in contingencies and $16 million in construction indirect costs [6][15][17]. - The average operating cost is estimated at $144 per metric tonne, with a gross margin of 68% [8][21]. Operations Overview - The project will utilize solution mining to produce potash, with an initial capacity of 300,000 metric tonnes per year [11][12]. - The facility is strategically located in San Juan County, Utah, close to agricultural markets, providing significant transportation cost advantages [19][20]. - The project is designed to support multiple phases of production and has a favorable timeline for permitting and engineering [6][14][19]. Resource Overview - The PEA identifies an inferred potash resource of 298 million metric tonnes, with a KCl grade of 42.1% [6][25]. - The resource is located in the Paradox Basin, known for its high-quality potash deposits and proven history of solution mining [25][26]. - The project has potential for significant future incremental capacity expansion, with additional exploration planned to convert inferred resources to measured and indicated resources [27][28]. Next Steps - Sage Potash plans to advance its efforts in delineating the resource and optimizing the project, including drilling an exploration well to confirm cavern concentrations and flow rates [27][28]. - The company aims to secure commercial initiatives, including potential off-take agreements and partnerships within the agricultural sector [28][30].