Core Points - Sego Resources Inc. will have a booth at the VRIC on January 25 and 26, 2026, showcasing maps and polished drill core from Diamond Drill Holes 69 and 71 [1] - The core from DDH 69 will exhibit potassic alteration, while DDH 71 will display phyllic alteration [1] - Maps of the complete areas of interest will also be available at the booth [2] Project Overview - Sego is the 100% owner of the Miner Mountain Project, an alkalic copper-gold porphyry and gold exploration project located near Princeton, British Columbia, covering an area of 2,056 hectares [3] - The project is situated 15 kilometers north of the Copper Mountain Mine operated by Hudbay Minerals Inc. [3] - Sego has a Memorandum of Understanding with the Upper Similkameen Indian Band regarding the Traditional Territory of the Miner Mountain Project and has received an Award of Excellence for its reclamation work [3]

Core Viewpoint - Visionary Copper and Gold Mines Inc. is advancing its portfolio of critical and precious metal-rich deposits in stable Canadian mining jurisdictions, with a focus on the Point Leamington deposit in Newfoundland, as highlighted in a feature article published on BNN Bloomberg [1][2]. Company Overview - Visionary Copper and Gold Mines Inc. (TSXV: VCG) (OTCQB: VCGMF) is focused on developing a portfolio of base and precious metals deposits located in established Canadian mining jurisdictions [3]. - The flagship Point Leamington deposit is 100% owned by the company and is situated in one of Canada's richest VMS and Gold Districts [3]. Mineral Resources - The Point Leamington deposit has a pit constrained Indicated Mineral Resource of 5.0 million tonnes (Mt) grading 2.5 g/t AuEq, totaling 402 thousand ounces (koz) AuEq, which includes 145.7 koz gold, 60.0 million pounds (Mlb) copper, 153.5 Mlb zinc, 2.0 million ounces (Moz) silver, and 1.5 Mlb lead [3]. - An Inferred Mineral Resource at the same deposit is 13.7 Mt grading 2.24 g/t AuEq, amounting to 986.5 koz AuEq, comprising 354.8 koz gold, 110.2 Mlb copper, 527.3 Mlb zinc, 6.2 Moz silver, and 7.0 Mlb lead [3]. - Additionally, there is an out-of-pit Inferred Mineral Resource of 1.7 Mt grading 3.06 g/t AuEq, equating to 168.5 koz AuEq, which includes 65.4 koz gold, 13.3 Mlb copper, 102.9 Mlb zinc, 1.4 Moz silver, and 2.6 Mlb lead [3]. Upcoming Exploration Plans - The company is preparing for its first exploration drilling campaign to advance its gold-, copper-, zinc-, and silver-rich VMS assets [2]. - The Rainbow deposit at the Pine Bay Project is also being permitted, with an indicated mineral resource of 3.44 Mt grading 3.59% CuEq, totaling 272.4 Mlb CuEq [3]. - An inferred mineral resource on the Rainbow deposit is 1.28 Mt grading 2.95% CuEq, containing 83.4 Mlb CuEq, and an inferred mineral resource at the Pine Bay deposit is 1.0 Mt grading 2.62% Cu [3]. Economic Potential - The Nash Creek Project, located in the VMS-rich Bathurst Mining District of New Brunswick, has a 2018 Preliminary Economic Assessment (PEA) indicating a pre-tax Internal Rate of Return (IRR) of 34.1% and a Net Present Value (NPV) of $230 million at a zinc price of $1.25 [3].

Core Insights - Freeport-McMoRan reported $5.63 billion in revenue for Q4 2025, a year-over-year decline of 1.5%, but exceeded the Zacks Consensus Estimate of $5.18 billion by 8.84% [1] - The company achieved an EPS of $0.47, up from $0.31 a year ago, representing a surprise of 67.98% compared to the consensus estimate of $0.28 [1] Financial Performance Metrics - Gold sales on a consolidated basis reached 80.00 Koz, surpassing the average estimate of 55.09 Koz [4] - Total net cash cost per pound of copper was $2.22, lower than the estimated $2.45 [4] - Gold sales in Indonesia were 75.00 Koz, exceeding the average estimate of 49.47 Koz [4] - Copper sales in Indonesia (Grasberg) totaled 112.00 Mlbs, significantly higher than the estimated 20.43 Mlbs [4] - Revenues from Indonesia were reported at $960 million, a decline of 57.3% year-over-year, compared to the average estimate of $303.61 million [4] - Molybdenum revenues were $220 million, a 24.3% increase year-over-year, below the average estimate of $297.1 million [4] - Revenues from South America copper mines reached $1.62 billion, a 34.2% increase year-over-year, exceeding the average estimate of $1.47 billion [4] - North America copper mines generated $2.1 billion in revenue, a 30.4% year-over-year increase, above the average estimate of $1.9 billion [4] - Rod & Refining revenues were $1.77 billion, a 20.9% year-over-year increase, compared to the average estimate of $1.66 billion [4] - Atlantic Copper Smelting & Refining revenues were $820 million, a 20.8% year-over-year increase, exceeding the average estimate of $725.1 million [4] - Corporate, other & eliminations reported a revenue of -$1.86 billion, worse than the average estimate of -$1.39 billion, but a year-over-year change of +12% [4] Stock Performance - Freeport-McMoRan shares returned +16.7% over the past month, outperforming the Zacks S&P 500 composite's +0.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Financial Data and Key Metrics Changes - Freeport-McMoRan reported adjusted EBITDA of nearly $10 billion for 2025, similar to 2024 levels, despite a 10% impact on annual copper volumes due to the Grasberg incident [7][10] - Consolidated unit net cash costs for the year were $1.65 per pound, within 3% of guidance [7] - The company expects unit net cash costs to average $1.75 per pound for 2026, with first-half costs expected to be above the average for the year [30][31] Business Line Data and Key Metrics Changes - U.S. production increased by 5% in the fourth quarter compared to the previous year, with an 8% increase targeted for 2026 [14][15] - South America copper sales totaled $1.1 billion for 2025, with expectations for similar sales in 2026 [16] - The company is targeting a 40% increase in production from leach initiatives in 2026, aiming for $800 million per annum [9][30] Market Data and Key Metrics Changes - Copper prices on the LME averaged $4.51 per pound for 2025, with current prices approximately 30% higher than the 2025 average [10][11] - Demand for copper is driven by electrification, AI data centers, and significant investments in China's electrical grid and electric vehicle production [11][12] - Analysts project a balanced copper market in 2026, with potential deficits due to increasing demand [12] Company Strategy and Development Direction - Freeport's long-term strategy remains focused on being a leader in copper production, with a commitment to operational execution and innovation [5][8] - The company is advancing leach initiatives and automation technologies to enhance operational performance and reduce costs [9][29] - Freeport is positioned for growth in the Americas, with projects aimed at scaling production and improving efficiencies [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the future of copper, citing strong prices and a well-designed recovery plan following the Grasberg incident [5][6] - The company anticipates substantial cash flow generation to support investments in growth and returns to shareholders [6][30] - Management highlighted the importance of maintaining a strong balance sheet and cash returns to shareholders while investing in growth projects [36] Other Important Information - Freeport's reserves at year-end 2025 included over 17 billion pounds of copper from the El Abra project, with ongoing regulatory processes for expansion [22][23] - The company is focused on enhancing its U.S. business through innovation and investment, aiming for a potential over 50% increase in copper production in the next four to five years [29] Q&A Session Summary Question: Guidance for outer years considering leaching opportunities - Management included $250-$300 million in 2026 guidance for leaching and sees potential to scale to $2 billion in the U.S. long-term [39][40] Question: Unit cash costs in South America - Unit cash costs in South America are forecasted at $258 per pound for 2026, similar to the fourth quarter of 2025, with increases attributed to labor and energy costs [43][44] Question: Target to reduce U.S. costs to $250 per pound by 2027 - The target assumes successful scaling of leach opportunities and driving efficiencies within U.S. operations [47][48] Question: Production targets and tariffs impact - Management is focused on low-cost production without relying on tariffs, emphasizing the low incremental costs of leach initiatives [51][57] Question: Timing for Bagdad project update - The company is working on engineering to secure fixed pricing and plans to make an investment decision mid-year [65][66] Question: Lessons learned from Grasberg incident - The company is on track with the Grasberg recovery plan, with mud removal nearly complete and infrastructure improvements ongoing [75][79]

Core Viewpoint - Solitario Resources Corp. has successfully acquired the Bright Angel copper-gold project in Colorado, which contains significant mineralized porphyry stockwork with valuable gold and copper, along with minor silver values [1] Group 1 - The acquisition of the Bright Angel project marks a strategic expansion for Solitario Resources Corp. in the mining sector [1] - The mineralized porphyry stockwork at Bright Angel is noted for its significant values of gold and copper, indicating potential for future revenue generation [1] - The project also includes minor silver values, which could contribute additional value to the overall resource assessment [1]

Core Viewpoint - Torr Metals Inc. has identified a new porphyry-style copper-gold target named Bertha North, which significantly expands the potential of the Bertha area within the Kolos Copper-Gold Project in British Columbia, following recent 3D modeling of induced polarization survey data from 2025 [1][3]. Geophysical and Geological Insights - The Bertha North target is characterized by a moderate-to-high resistivity anomaly and a strong magnetic response, indicating the presence of magnetite-bearing intrusive rocks typical of an alkalic porphyry environment [2][3]. - Historical data shows an approximately 800 m by 500 m copper and gold soil anomaly in the area, with copper values reaching up to 528 parts per million (ppm) and gold values up to 20 parts per billion (ppb) [2][3]. - The presence of diorite and monzonite intrusions supports the interpretation of an intrusive copper-gold porphyry source [2][3]. Exploration and Development Plans - A fully funded Phase II drill program of up to 6,000 meters is planned to test multiple porphyry targets, including the newly identified Bertha North target [3][9]. - The 2025 induced polarization data indicates chargeability at depth, suggesting further prospectivity and the potential for a porphyry center beneath the resistive cap [3][9]. - Future exploration will include expanded IP coverage, geological mapping, and drill testing to evaluate the depth extent and grade potential of the Bertha North target [9]. Strategic Importance - The identification of Bertha North enhances the exploration potential of the greater Bertha area, indicating the presence of multiple porphyry-fertile intrusive centers and reinforcing the district-scale copper-gold opportunities at the Kolos Project [8][9]. - The strategic location of the Kolos Project, near established mining infrastructure, positions the company favorably for cost-effective exploration and development [11].

Core Insights - Riverside Resources Inc. and Questcorp Mining Inc. reported high-grade results from the Union Mine area, including 20.2 g/t Au and 226 g/t Ag with 2.7% Zn over a 30 m continuous chip-channel sampling [1][4][5] - The results from the Phase 1 drill program indicate successful intersections of CRD-style mineralization across multiple target areas, reinforcing the potential for further exploration [3][5][21] Chip-Channel Sampling and Drill Results - The chip-channel sampling at the Union Mine returned significant grades, supporting the potential for follow-up exploration and drilling from both surface and upper mine workings [4][5] - The full assay results from the 30 m channel sampling indicate a total of 202 g of gold, 2,257 g of silver, and 26,720 g of zinc [6][20] - The Phase 1 drill program included 12 holes, with the final six holes reporting positive results across the Union Mine, Union Norte, and El Cobre target areas [5][20] Geological Context and Comparisons - The mineralization found at the Union Project is comparable to the CRD systems in the region, particularly the Hermosa Project, where South32 is investing significantly [4][5] - The sediment-hosted gold indicators found in the Union Mine area suggest potential for further discoveries, similar to those in Nevada's Carlin deposits [15][22] Future Exploration Plans - The companies plan to initiate a Phase 2 exploration program in the first half of 2026, which will include follow-up drilling and additional geophysical and geochemical studies [23][25] - The Luis Hill target has shown promising results, indicating the potential for a major new discovery in Mexico, with further drilling planned to explore this area [15][16][24] Company Background - Riverside Resources Inc. is a well-funded exploration company with a strong portfolio of gold-silver and copper assets, holding over C$6,000,000 in cash and no debt [29]

Core Viewpoint - The rising gold prices, currently at $4,778.51 per ounce, are driven by safe-haven demand and policy signals, with expectations that prices may continue to rise beyond $4,778 [2][12]. Group 1: Gold Price Movements - Spot gold rose 0.3% to $4,778.51 per ounce after reaching an all-time high of $4,887.82 earlier in the session [2]. - U.S. gold futures for February settled 1.5% higher at $4,837.50 [2]. - Gold prices increased by 64% in 2025 and are up 11% so far in 2026, indicating sustained investor demand amid political and economic changes [10][14]. Group 2: Influencing Factors - The increase in gold prices is attributed to a mix of policy uncertainty, interest rate expectations, and demand for safe assets [4][12]. - The U.S. Federal Reserve is expected to maintain steady interest rates, which reduces the cost of holding gold [9][14]. - Political discussions around trade and security continue to support gold demand, despite short-term corrections following record price levels [4][14]. Group 3: Market Reactions - Following President Trump's reversal on tariff threats related to Greenland, gold prices trimmed gains due to reduced geopolitical pressure, although the broader upward trend remained intact [3][5]. - Equity markets reacted positively, with the Dow rising 722 points, the S&P 500 gaining 1.47%, and the Nasdaq climbing 1.6% [8][14]. Group 4: Broader Metals Trends - The movement in gold prices is part of a wider trend in metals, with spot silver falling 3.6% to $91.17 after reaching $95.87, while platinum touched a record of $2,543.99 before easing [10][14]. - Palladium declined to $1,825.85, indicating volatility in the broader metals market [10][14]. Group 5: Investor Strategies - Investors are advised to monitor U.S. interest rate decisions, Federal Reserve policy signals, and political developments related to trade and security [11][14]. - Short-term price swings are anticipated after record highs, emphasizing the importance of risk management [11][14].

Core Viewpoint - Nexa Resources has temporarily suspended production at the Atacocha San Gerardo open pit mine due to illegal roadblocks by the Joraoniyoc community protesting against the company [1][2]. Group 1: Production Impact - The Atacocha mine's production has been suspended, with activities limited to critical operations and a minimum workforce for maintenance [2]. - Atacocha produces approximately 0.2kt of zinc weekly, which accounts for less than 3% of Nexa's total zinc production [3]. Group 2: Community Relations - Nexa is actively engaging in dialogue with the Joraoniyoc community and authorities to seek a peaceful resolution to the situation [3]. - The company remains committed to the social development of its host communities [3]. Group 3: Company Overview - Nexa Resources is a large-scale, low-cost integrated polymetallic producer, primarily focused on zinc, with over 65 years of experience in mining and smelting in Latin America [4]. - The company operates five polymetallic mines and three smelters, with the Cajamarquilla smelter being the largest in the Americas [4].

Group 1: Production and Shipments - Rio Tinto announced an 8% year-on-year increase in copper equivalent production for 2025, with shipments rising by 5% [1] - In Q4 2025, Pilbara iron ore operations reported a record 4% production increase and a 7% rise in shipments year-on-year [1] - Bauxite production in Q4 stood at 15.4 million tonnes, contributing to a 6% annual increase to 62.4 million tonnes [4] Group 2: Project Developments - The growth in copper production was largely driven by the successful ramp-up of the Oyu Tolgoi project [1] - The Simandou project saw rapid progress, with operations commencing and the first shipment dispatched in Q4 2025 [1][5] - Rio Tinto celebrated the major milestone of the first shipment from the Simandou port, highlighting its ability to deliver major growth projects [5] Group 3: Financials and Expenditures - In 2025, Rio Tinto reported pre-tax and pre-divestment expenditure on exploration and evaluation amounting to A$795 million, a decrease from A$935 million in 2024 [2] - The expenditure distribution included approximately 40% for copper, 32% for central exploration, 19% for iron ore, 8% for other operations, and 1% for aluminium and lithium [3] - Copper production reached 240,000 tonnes in Q4, up 5%, with an annual total of 883,000 tonnes, an 11% rise from the previous year [4]