Core Viewpoint - FireFly Metals Ltd is experiencing significant progress at the Green Bay Copper-Gold Project, with strong drilling results and advancements in production restart studies, leading to an upcoming Mineral Resource Estimate update. Drilling and Resource Growth - The company has implemented an eight-rig drilling strategy that has successfully extended and infilled known mineralization at Green Bay, with results expected to contribute to the Mineral Resource Estimate update planned for later this year [2][4][9] - Recent drilling results included notable intersections such as 49.0m at 6.1% copper equivalent (CuEq) and 11.6m at 9.3% CuEq, demonstrating the high-grade potential of the project [7][13][14] Economic Studies and Metallurgical Results - Economic studies are progressing well, with metallurgical tests indicating high recoveries of over 98% for copper and 85% for gold, which are expected to enhance the project's economic viability [30][31][32] - The first economic studies are scheduled for completion in Q1 2026, integrating mining, processing, and infrastructure elements into a cohesive assessment [58][59] Environmental and Engineering Developments - The company has secured environmental approvals for an upscaled restart operation, allowing for a processing capacity of 1.8 million tonnes per annum [33][34] - Engineering studies are underway to optimize mining and processing designs, with recommendations for mining methods that maximize extraction efficiency [37][38] Regional Exploration and New Targets - FireFly has identified numerous new geophysical targets through modern surveys, with plans to accelerate surface exploration and drill testing in high-priority areas [43][46][47] - Exploration activities have commenced at the Tilt Cove Project, which has historical production of copper and gold, with ground EM surveys confirming significant anomalies [51][52] Financial Overview - As of September 30, 2025, the company reported a cash balance of A$114.3 million, positioning it well to fund ongoing exploration and development activities [71] - The company successfully raised approximately A$98.1 million through equity offerings, primarily allocated to the Green Bay project [70]