Summary of Vista Gold Corp. Conference Call Company Overview - **Company**: Vista Gold Corp. - **Stock Symbols**: VGZ on NYSE American and TSX - **Project**: Mount Todd Gold Project located in Northern Territory, Australia - **Status**: Advanced development stage gold deposit, second-largest undeveloped gold project in Australia [1][2] Key Points from the Feasibility Study - **Feasibility Study Results**: Announced in July, demonstrating a path to near-term production [2] - **Project Scale**: Designed for 15,000 tons per day with potential for expansion [3] - **Initial CapEx**: Reduced by 59% from previous estimates, now at $425 million compared to over $1 billion [4][6] - **Gold Production Profile**: Stabilized production schedule with 175,000 ounces expected in the first three years and 150,000 ounces annually for the next 15 years [5][6] - **Average Grade Improvement**: Increased from 0.77 grams per ton to 0.97 grams per ton [5] - **Reserves**: Decreased from 7 million ounces to 5.2 million ounces due to a higher cutoff grade [6] Economic Metrics - **NPV-5**: - At $2,500 gold price: $1.1 billion - At $3,700 gold price: $2.7 billion - **IRR**: - Nearly 28% at $2,500 gold price - Over 50% at $3,700 gold price [7][8] - **All-in Sustaining Costs**: Just under $1,500 per ounce for the mine [8] Market Position and Valuation - **Comparison with Peers**: Vista Gold has a larger reserve and production capability than Australian junior gold producers, yet its market valuation is significantly lower [8] - **Market Cap Aspirations**: Expected to reach close to $1 billion, with aspirational targets of two to three times that amount [8] Strategic Changes and Risk Management - **Operational Changes**: - Adoption of contract mining and fly-in, fly-out workforce to minimize staffing risks [5][9] - Engaged engineering firms with proven track records in Australia [9] Investor Insights - **Share Price Movement**: Share price increased from $0.93 to a high of $2.46 following the feasibility study announcement [10] - **Net Asset Value**: At $2,500 gold price, net asset value per share is $8.80; at $3,300, it is $17.60, indicating significant upside potential [11][12] Conclusion - **Value Proposition**: The Mount Todd Gold Project presents a strong investment opportunity with substantial intrinsic value, especially as the project moves towards production [12]

Not for dissemination in the United States or through U.S. newswires VANCOUVER, BC / ACCESS Newswire / October 22, 2025 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) ("NV Gold" or the "Company"), is pleased to announce a non-brokered private placement for gross proceeds of up to C$1,000,000 through the issuance of up to 5,555,555 units (each, a "Unit") at a price of C$0.18 per Unit (the "Offering"). Each Unit consists of one common share of the Company (a "Common Share") and one Common Share purcha ...

Core Viewpoint - Augusta Gold has received shareholder approval for its takeover by AngloGold Ashanti, with over 99.3% of votes in favor, and the transaction is expected to close around October 23 [1][2]. Company Summary - AngloGold Ashanti has agreed to acquire Augusta Gold for C$152 million ($108.7 million) in an all-cash deal, aiming to consolidate landholdings in Nevada's Beatty gold district [2]. - The acquisition price of C$1.70 per share represents a 28% premium at the time of the announcement, with Augusta's current stock trading at C$1.69, resulting in a market capitalization of C$145.2 million ($103.8 million) [3]. Industry Summary - The acquisition is seen as a strategic move to enhance AngloGold's position in a key gold district in North America, with CEO Alberto Calderon emphasizing the importance of securing these properties for future development [4]. - AngloGold's Nevada projects include Arthur, with an inferred mineral resource of 12.9 million ounces, and North Bullfrog, projected to produce an average of 76,000 ounces of gold annually over 11 years [4]. - The acquisition is expected to create synergies for the two projects, according to BMO Capital Markets mining analyst Raj Ray [5].

Oil Market - Oil prices have increased over 1% for two consecutive days, driven by supply risks and optimism regarding US-China trade negotiations [3][5] - Supply concerns are heightened due to the postponement of a summit between US President Donald Trump and Russian President Vladimir Putin, along with rising tensions with Venezuela [4][5] Precious Metals Market - Gold and silver prices are fluctuating after experiencing their most significant selloffs in years, with spot gold trading near $4,140 an ounce after a 6.3% drop [6][7] - The recent decline in precious metals halted a rally that had been ongoing since mid-August, which was fueled by expectations of Federal Reserve rate cuts and concerns over budget deficits [7] Japan's Export Performance - Japan's exports rose by 4.2% in September, surpassing analyst expectations, primarily due to a 9.2% increase in shipments to other Asian countries [8] - This growth offset a 13.3% decline in exports to the United States, which were adversely affected by tariffs imposed by the Trump administration, particularly a 24.2% drop in auto shipments [8] Ukraine's Diplomatic Efforts - Ukrainian President Volodymyr Zelenskyy is visiting Sweden for defense talks with Prime Minister Ulf Kristersson, focusing on defense exports and cooperation amid ongoing tensions with Russia [10][11] - This visit is part of Zelenskyy's broader efforts to secure Western support for Ukraine's military initiatives [11]

Core Insights - DRDGOLD Ltd. experienced a significant improvement in gold recovery yield in Q1 FY2026, which positively impacted production and earnings despite a decrease in total ore throughput [1][5][10] Production and Operational Performance - The company processed approximately 6.481 metric tons of material, about 3% lower than the previous quarter, mainly due to weather disruptions and routine maintenance [2] - Gold production increased by 2% sequentially, totaling 38,291 ounces [2][10] - The yield improved to 0.184 grams per ton from 0.176 grams per ton, marking a 5% increase, allowing DRDGOLD to extract more gold per ton processed [3][10] Financial Performance - Revenues for Q1 FY2026 reached R2.25 billion (approximately $124.4 million), a 2% increase from the previous quarter, driven by higher gold prices and sales [5][10] - EBITDA rose by 1% to R1.09 billion (around $60.3 million), supported by strong gold prices and enhanced recovery efficiencies [5][10] Strategic Positioning - The yield improvement strengthens DRDGOLD's long-term position in the surface retreatment segment, emphasizing the importance of optimizing recovery efficiency for sustained profitability [6][10] Industry Comparison - AngloGold Ashanti Plc. reported a 21% year-over-year increase in gold production, driven by higher recovery rates and optimized plant performance [7] - Gold Fields Ltd. faced a 27% decrease in gold recovery yield, contributing to a 6% decline in gold production [8]

Core Insights - Three stocks with strong momentum and buy rankings are highlighted for investors: Nextech3D.AI Corporation, Morgan Stanley, and Gold Fields Limited [1][2][3] Company Summaries - **Nextech3D.AI Corporation (NEXCF)**: - Zacks Rank 1 - Current year earnings estimate increased by 66.7% over the last 60 days - Shares gained 129.9% over the last three months compared to S&P 500's 6% increase - Momentum Score of B [1] - **Morgan Stanley (MS)**: - Zacks Rank 1 - Current year earnings estimate increased by 2.2% over the last 60 days - Shares gained 12% over the past three months compared to S&P 500's 6% increase - Momentum Score of A [2] - **Gold Fields Limited (GFI)**: - Zacks Rank 1 - Current year earnings estimate increased by 7.7% over the last 60 days - Shares gained 53.8% over the last three months compared to S&P 500's 6% increase - Momentum Score of B [3]

Core Viewpoint - US Gold Corp (USAU) shares have increased by 9.3% in the last four weeks, closing at $17.46, with a potential upside of 25% based on Wall Street analysts' mean price target of $21.83 [1][11]. Price Targets and Analyst Estimates - The mean price target consists of three short-term estimates with a standard deviation of $1.76, indicating variability among analysts [2]. - The lowest estimate of $20.00 suggests a 14.6% increase, while the highest estimate of $23.50 indicates a potential surge of 34.6% [2]. - A low standard deviation signifies strong agreement among analysts regarding the stock's price movement direction [9]. Earnings Estimates and Analyst Agreement - Analysts have shown increasing optimism about USAU's earnings prospects, as evidenced by a positive trend in earnings estimate revisions [11]. - The Zacks Consensus Estimate for the current year has risen by 7.7% over the past month, with one estimate increasing and no negative revisions [12]. - USAU holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13]. Caution on Price Targets - While price targets are commonly referenced by investors, they can often mislead and should not be the sole basis for investment decisions [3][10]. - Analysts may set overly optimistic price targets due to business incentives, which can inflate expectations [8].

Core Insights - Barrick Mining Corporation and Newmont Corporation are two leading gold mining companies with extensive global operations and diversified portfolios, making them relevant for investors amid rising gold prices driven by economic uncertainties [1][11]. Gold Market Overview - Gold prices have surged to unprecedented levels this year, reaching over $4,000 per ton, primarily due to safe-haven demand amid global trade tensions, geopolitical issues, a weak dollar, and increased central bank purchases [2][3]. - The Federal Reserve's interest rate cuts and concerns over the labor market and U.S.-China trade tensions have further fueled this rally, with gold prices increasing approximately 56% year-to-date [3]. Barrick Mining Corporation - Barrick is advancing key growth projects, including Goldrush and the Lumwana Super Pit expansion, which are expected to significantly enhance production [5][7]. - The Goldrush mine aims for 400,000 ounces of annual production by 2028, while the Reko Diq project in Pakistan is projected to produce 460,000 tons of copper and 520,000 ounces of gold annually starting in 2028 [6]. - Barrick's liquidity position is strong, with cash and cash equivalents around $4.8 billion and operating cash flows of approximately $1.3 billion in Q2 2025, reflecting a 15% year-over-year increase [8]. - The company returned $1.2 billion to shareholders in 2024 and has a dividend yield of 1.7% with a sustainable payout ratio of 25% [9][10]. - However, Barrick faces challenges with rising costs, with cash costs per ounce of gold and all-in-sustaining costs increasing by approximately 17% and 12% year-over-year, respectively [12][13]. Newmont Corporation - Newmont is strategically investing in growth projects, including the Ahafo North expansion and the Cadia Panel Caves, which are expected to enhance production capacity [15]. - The Ahafo North project is anticipated to produce between 275,000 and 325,000 ounces of gold annually, with commercial production planned for late 2025 [16]. - The acquisition of Newcrest Mining has strengthened Newmont's portfolio, generating $500 million in annual run-rate synergies [17]. - Newmont has a robust liquidity position with $10.2 billion in total liquidity and $6.2 billion in cash and cash equivalents, alongside a free cash flow of $1.7 billion [20]. - The company has distributed around $2 billion to shareholders and has a dividend yield of 1.1% with a payout ratio of 20% [21]. Comparative Analysis - Year-to-date, Barrick's stock has risen by 103.2%, while Newmont's stock has increased by 131.9%, both underperforming compared to the Zacks Mining – Gold industry's growth of 136% [23]. - Newmont trades at a premium with a forward earnings multiple of 13.91, while Barrick trades at 12.57, representing a 23% discount to the industry average [25][26]. - Newmont's return on equity stands at 17.9%, significantly higher than Barrick's 8.2%, indicating more efficient use of shareholder funds [27]. - The consensus estimates for 2025 suggest Barrick's sales and EPS will grow by 19.4% and 65.1%, respectively, while Newmont's growth is projected at 11.3% and 60.1% [29][32]. Investment Outlook - Both companies are well-positioned to benefit from favorable gold prices, with strong project pipelines and financial health. However, Barrick's higher production costs and declining production outlook may pose risks, making Newmont a more favorable investment option at this time [33].

Core Insights - Investor sentiment is currently bullish due to strong third-quarter earnings, despite concerns over a government shutdown and economic data blackout [1] - The Federal Reserve has lowered interest rates in response to a deteriorating labor market, creating challenges for retail investors in stock selection [1] Investment Recommendations - Stocks such as Newmont Corporation (NEM), Commercial Metals Company (CMC), and Cenovus Energy Inc. (CVE) are highlighted as potential investment opportunities [2] - Broker recommendations can provide valuable insights, but should not be the sole basis for investment decisions [4] Stock Performance and Projections - Newmont Corporation is expected to see a 60.1% year-over-year increase in earnings for 2025, with a 4.8% upward revision in broker ratings [7] - Commercial Metals Company is projected to experience a 67.4% increase in earnings for fiscal 2026, with an 8.3% upward revision in broker ratings [9] - Cenovus Energy is forecasted to have a 10.7% rise in earnings for 2025, with a 6.3% upward revision in broker ratings [10] Screening Strategy - A screening strategy is proposed to identify potential winners, focusing on stocks with broker rating upgrades of 1% or more, trading above $5, and an average 20-day volume greater than 100,000 [5] - Stocks with a Zacks Rank of 1 (Strong Buy) or 2 (Buy) and a VGM Score of A or B are suggested for better upside potential [6]

Group 1 - Perpetua Resources has commenced early works construction for the Stibnite gold project in Idaho, which is notable for being the only U.S. reserve of the critical mineral antimony [1] - The company reported a financial figure of $139 million, indicating a significant milestone in its operations [2]