Core Insights - Hycroft Mining (HYMC) announced positive exploration drilling results from its Vortex silver system in Nevada, leading to a 49% stock price increase, with an additional rise of over 10% in subsequent trading [1] - Eric Sprott, the largest shareholder of Hycroft with a 33% stake, benefits significantly from the positive news, while AMC shareholders are left questioning the implications for their investment [1] Company Investment Details - AMC initially invested $27.9 million in Hycroft in March 2022 for a 22% stake, which was matched by Eric Sprott, resulting in a combined ownership of 44% [4] - For its 22% stake, AMC received 23,408,240 Hycroft units, each comprising one common share and a warrant to purchase an additional share at $1.068, with warrants expiring in March 2027 [4] Financial Context - AMC sold a significant portion of its stake in Hycroft to Eric Sprott for $24.1 million, retaining only warrants and a small stake, raising questions about the profitability of this non-core investment [2] - AMC's financial health was concerning, as indicated by an Altman Z-Score of -0.40 in March 2022, suggesting a high likelihood of bankruptcy within 24 months [6]

Core Viewpoint - Patagonia Gold Corp. has confirmed that its management is unaware of any material changes in operations that would explain the recent increase in market activity [1] Company Overview - Patagonia Gold Corp. is a publicly traded mining company focused on South America, specifically in the Patagonia region of Argentina [2] - The company aims to enhance shareholder value through the exploration and development of gold and silver projects, with a primary focus on the Calcatreu project in Rio Negro and the Cap-Oeste underground project [2] - Patagonia Gold holds mineral rights to over 375 properties across several provinces in Argentina, making it one of the largest landholders in Santa Cruz province [2]

Announces $1.79 Million Option and Warrant ExerciseVANCOUVER, British Columbia, Dec. 22, 2025 (GLOBE NEWSWIRE) -- Latin Metals Inc. ("Latin Metals" or the "Company") (TSXV: LMS) (OTCQB: LMSQF) reports that option partner Daura Gold Corp. ("Daura") (TSXV: DGC) has commenced induced polarization ("IP") geophysical surveying across the Cerro Bayo gold-silver project (the "Project") (Figure 1) in the Deseado Massif, Santa Cruz Province, Argentina. Daura has an option (the "Option") to earn up to 80% interest in ...

VANCOUVER, British Columbia, Dec. 22, 2025 (GLOBE NEWSWIRE) -- Latin Metals Inc. ("Latin Metals" or the "Company") (TSXV: LMS) (OTCQB: LMSQF) reports that option partner Daura Gold Corp. ("Daura") (TSXV: DGC) has commenced induced polarization ("IP") geophysical surveying across the Cerro Bayo gold-silver project (the "Project") (Figure 1) in the Deseado Massif, Santa Cruz Province, Argentina. Daura has an option (the "Option") to earn up to 80% interest in the Project (see previous news release dated Novem ...

Core Insights - Hycroft Mining Holding Corporation has reported significant drill results from its 2025-2026 Exploration Drill Program at the Hycroft Mine, indicating the highest grades to date in the Vortex area, with multiple intercepts grading between 960 g/t to 1545 g/t silver [1][4][5] Exploration Results - The Vortex mineralization has expanded approximately 70 meters to the northwest and 90 meters down-dip to the west based on results from drill holes H25D-6070 and H25D-6072 [4] - Drill hole H25D-6072 reported 26.4 meters at 565.31 g/t Ag and 0.46 g/t Au, including 6.9 meters at 802.96 g/t Ag and 0.62 g/t Au [4][5] - Drill hole H25D-6070 reported 30.8 meters at 438.58 g/t Ag and 0.41 g/t Au, including 6.1 meters at 739.58 g/t Ag and 0.21 g/t Au [4][5] Future Exploration Plans - The 2025-2026 Exploration Drill Program will consist of an initial 14,500 meters of core drilling, utilizing two rigs with plans for two additional rigs in 2026 [6] - The exploration strategy aims to unlock the full scale of the Vortex and Brimstone high-grade silver systems through both lateral and depth expansion [3][5] Company Overview - Hycroft Mining Holding Corporation is focused on exploring and developing the Hycroft Mine, one of the largest precious metals deposits in northern Nevada, transitioning from oxide heap leaching to a large-scale milling operation for sulfide ore processing [7] - The company has discovered two new high-grade silver systems within the known resource area, which are considered significant value drivers for the Hycroft Mine [7]

Core Viewpoint - Mithril Silver and Gold Limited is advancing its exploration efforts at the Copalquin District gold-silver project in Mexico, with significant drilling activities planned for 2026, including the mobilization of a third drill rig and a focus on expanding known mineralized zones [1][8]. Drilling Update - Drilling at Target 3 will begin in January 2026, with an initial phase of 3,300 meters planned near historic workings that showed promising channel sampling results of up to 0.65 m @ 16 g/t gold and 1,275 g/t silver [2]. - Target 1 drilling has produced a predictive model for a new resource estimation in 2026, with further drilling of approximately 3,000 meters planned [3]. - The maiden drill program at Target 5 has yielded excellent results, including 2.75 m @ 2.28 g/t gold and 500 g/t silver, with additional drilling planned to test further along strike [4]. Assay Update - The company is experiencing delays at its external assay laboratory, with final results pending for about 20 drill holes, and additional holes dispatched recently [5]. Regional Exploration - LiDAR surveying has been completed at the newly acquired La Dura concession area, with analysis expected in early 2026. An aerial magnetic survey is scheduled for January 2026 to refine structural interpretations and identify new targets [6]. Year-End Reflection - The company has made significant exploration progress in 2025, reinforcing the potential of the Copalquin District as a high-grade gold-silver system, with multiple targets advancing in parallel [7]. 2026 Outlook - Mithril plans an aggressive exploration program in 2026, targeting 25,000 meters of drilling and focusing on expanding known mineralized zones and testing new high-priority targets [8].

Core Insights - Tocvan has initiated trenching material for the Pilot Mine feed at the Gran Pilar South Block, receiving local community approval and starting site preparation for a fully permitted 50,000-tonne facility [1] Group 1: Pilot Mine Advancement - The company has begun trenching material for the Pilot Mine feed at the Gran Pilar South Block [1] - Local community approval has been secured for the project [1] - Site preparation activities have commenced, including clearing for heap leach pad and containment ponds [1] Group 2: Infrastructure and Exploration Progress - Dozer cuts for channel sampling and ground leveling for processing equipment and access roads are currently underway [1] - These activities align with recent positive surface sampling results [1] - Ongoing maiden drilling in the North Block indicates encouraging gold and silver potential [1]

Core Viewpoint - Norsemont Mining Inc. has successfully closed the first tranche of its non-brokered private placement, raising US$7,529,000 (approximately CAD$10,375,715) through the issuance of unsecured convertible debenture units and warrants, which will support its upcoming drill program and production strategy for the Choquelimpie project [1][2]. Financing Details - The first tranche of the Offering involved the issuance of US$7,529,000 in principal amount of Convertible Debentures and 6,035,258 Warrants, resulting in total gross proceeds of US$7,529,000 (approximately CAD$10,375,715) [1]. - The terms of the Offering have been amended to allow for gross proceeds of up to US$10,000,000 (approximately CAD$13,794,400), with a 30% over-allotment option [2]. Use of Proceeds - Proceeds from the Offering are intended for general working capital, mineral exploration, and advancing the Choquelimpie gold-silver-copper project [3]. Convertible Debenture Unit Structure - Each Convertible Debenture Unit consists of one convertible debenture with a principal amount of US$1,000, convertible into common shares at a price of CAD$0.86, and includes 802 transferable common share purchase warrants, each allowing the purchase of one common share at CAD$1.00 for three years [4]. - The Convertible Debentures carry an interest rate of 5.25% per annum and have a maturity date of three years from the closing date [4]. Project Overview - Norsemont Mining owns a 100% interest in the Choquelimpie project, which has an indicated mineral resource estimate of 1,731,000 gold ounces and 33,233,000 silver ounces, along with an inferred mineral resource of 446,000 gold ounces and 7,219,000 silver ounces [10]. - The Choquelimpie project is a past-producing mine with significant existing infrastructure, including roads, power, water, camp, and a 3,000-tonne-per-day mill [10].

Group 1: Market Overview - The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite have seen year-to-date gains of 14%, 16%, and 20% respectively as of December 12, 2025 [1] - The focus of investing should be on future opportunities rather than past performance [2] Group 2: Investment Strategy - The company has increased cash reserves for future investments while maintaining a long-term focus on 36 positions, with the top 10 holdings accounting for over 81% of invested assets [3] Group 3: Company Highlights - **SSR Mining**: The stock has gained 219% year-to-date, driven by rising gold and silver prices and potential reinstatement of its environmental license at the Copler mine [5][6] - **Teva Pharmaceutical Industries**: The company is shifting focus to high-margin drug development, with the drug Austedo expected to generate over $2 billion in sales for 2025 [7][8] - **iShares 0-3 Month Treasury Bond ETF**: This ETF is used to manage cash reserves, offering a yield around 4% compared to a negligible yield on uninvested cash [9][10] - **Meta Platforms**: The company has significant ad-pricing power and closed September with approximately $44.5 billion in cash, on track to generate over $100 billion in cash from operations in 2025 [11][13] - **Bank of America**: The bank has been a long-term holding, facing challenges from recent Federal Reserve rate cuts but still generating profitable loans [15][16] - **PubMatic**: Positioned well in digital advertising, with connected TV ad growth exceeding 50% year-over-year and positive operating cash flow [17][19] - **First Majestic Silver**: The company has seen profit projections rise due to higher silver prices, but management struggles with mining costs have led to a reduction in holdings [21][22] - **Pinterest**: The platform has reached 600 million monthly active users and has potential for improved monetization, with a forward P/E ratio of 13 [24][26] - **PayPal Holdings**: Despite stalling active account growth, payment transactions per account have increased by 41%, and the company has initiated a quarterly dividend program [29][30] - **Alphabet**: The company maintains a dominant market share in internet search and is expected to see growth from its Google Cloud platform, particularly with AI integration [31][33]

Project Highlights - The DeLamar Heap Leach Project demonstrates robust economics with an after-tax NPV5% of $774 million (base case) and $1.7 billion (spot)[16] - The project boasts a competitive after-tax IRR of 46% (base case) and 89% (spot)[16] - The initial capital expenditure is estimated at $389 million[16] - The project anticipates an average gold equivalent (AuEq) production of 106,000 ounces over the life-of-mine (LOM) and 119,000 ounces annually for the first 5 years[16] - The mine life is projected to be 10 years, with a total payable AuEq of 1.1 million ounces[16] Cost and Economics - LOM cash costs are estimated at $1,179 per AuEq ounce, while all-in sustaining costs (AISC) are projected at $1,480 per AuEq ounce[16] - The project has a payback period of 1.8 years (base case) and 1.0 years (spot)[16] - The NPV-to-capex ratio is 2.0 (base case) and 4.4 (spot)[16] Mineral Reserves - The DeLamar Project has proven and probable oxide mineral reserves of 119,972 kilotonnes with an average gold grade of 0.33 g/t, containing 1,259 koz of gold[27] - The project also holds proven and probable oxide mineral reserves of 119,972 kilotonnes with an average silver grade of 13.56 g/t, containing 52,305 koz of silver[27]