Core Viewpoint - The acquisition of New Gold by Coeur creates the only all North American senior precious metals mining company, enhancing production, cash flow, and liquidity profiles for both companies [3]. Group 1: Acquisition Details - The transaction is positioned as a strategic move to improve both companies faster than they could achieve independently [4]. - The focus of the merger is on aligning company cultures to build a stronger, more resilient team [4]. Group 2: Leadership and Communication - The call features leadership from both companies, with Mitch Krebs and Pat Godin discussing the benefits of the acquisition [2]. - The importance of forward-looking statements and cautionary language is emphasized at the beginning of the call [2].

Core Viewpoint - Nord Precious Metals Mining Inc. is initiating a 3,600-meter phase of a 30,000-meter drill program at its Castle East property, targeting 29 newly modeled silver veins [1][2][4]. Drilling Program Details - The first phase will focus on testing potential silver veins and their extensions above and below the Nipissing Diabase, as well as veins near the contacts with Archean volcanic lithologies [2][3]. - Initial drilling will target a total of 7 modeled veins at various depths, with historical data indicating significant silver intercepts within the diabase and surrounding areas [3][4]. Historical Context and Exploration Potential - Historical production primarily occurred near the upper contact of the diabase, but the lower contact, which can reach depths of 600 meters, remains largely under-explored [5]. - Advances in diamond drilling technology now allow for more accurate directional drilling, making previously inaccessible areas more accessible for exploration [5]. Future Plans - Following the completion of the first phase, the company plans to continue drilling in subsequent phases based on the results obtained [7]. Company Overview - Nord Precious Metals operates the only permitted high-grade milling facility in Ontario's Cobalt Camp and has a strategic focus on integrating high-grade silver discovery with critical metals recovery operations [10][12]. - The Castle property encompasses 63 square kilometers and includes the Castle East discovery, which has delineated 7.56 million ounces of silver in inferred resources [11]. - The company's multi-metal approach supports the extraction of critical minerals, including cobalt and nickel, leveraging established infrastructure for battery materials [12].

Summary of Coeur Mining and New Gold Acquisition Conference Call Company and Industry Overview - **Companies Involved**: Coeur Mining (NYSE:CDE) and New Gold - **Industry**: Precious metals mining Key Points and Arguments 1. **Transaction Announcement**: Coeur Mining announced the acquisition of New Gold, creating the only all-North American senior precious metals mining company with a strong production and cash flow profile [2][4] 2. **Market Position**: The combined entity will be a $20 billion US-based precious metals producer, ranking among the top 10 largest precious metals companies globally and remaining a top five silver producer [4][11] 3. **Financial Projections**: The merger is expected to increase 2026 EBITDA to approximately $3 billion and free cash flow to about $2 billion, leading to a sector-leading free cash flow yield [4][16] 4. **Production Estimates**: The combined operations are projected to produce around 20 million ounces of silver, 900,000 ounces of gold, and 100 million pounds of copper in the next year [5][15] 5. **Shareholder Benefits**: The transaction is per share accretive for shareholders, with New Gold shareholders receiving a 16% premium on their shares [11][19] 6. **Operational Synergies**: The merger aims to leverage the strengths of both companies, enhancing operational efficiency and creating a more resilient business model [53][54] Additional Important Insights 1. **Cultural Fit**: Both companies emphasize the importance of cultural alignment and shared values in the success of the merger [3][8] 2. **Geographic Focus**: Over 80% of the combined company's revenue will come from operations in the US and Canada, positioning it favorably in the North American market [4][6] 3. **Exploration Potential**: The acquisition includes significant growth opportunities in exploration, particularly at New Afton and Rainy River, which are expected to enhance the overall production profile [12][14] 4. **Debt Management**: Coeur has successfully managed its debt levels and plans to continue building cash reserves post-acquisition, allowing for strategic capital allocation [50][51] 5. **Regulatory Considerations**: The transaction is subject to customary regulatory approvals, including potential scrutiny from Investment Canada due to the copper component at New Afton [43][44] Conclusion - The acquisition of New Gold by Coeur Mining is positioned as a transformative move within the precious metals mining industry, promising enhanced production capabilities, financial strength, and shareholder value. The strategic alignment of both companies is expected to create a robust platform for future growth and exploration opportunities.

Core Points - Lincoln Gold Mining Inc. intends to settle CDN $101,000 of indebtedness through the issuance of 673,333 units at an issue price of $0.15 per unit, which includes one common share and one-half of a warrant [1][2] - The creditor was unable to subscribe for the full amount in a previous private placement due to conditional approval from the TSX Venture Exchange [2] - The securities issued will be subject to a four-month hold period and the settlement is pending Exchange approval [3] Financial Transactions - The company will not proceed with a previously announced shares for debt transaction [4] - Lincoln Gold has secured an unsecured loan of CDN $190,160 from Ian Rogers, the Chair of the Board, with a 1% monthly interest rate, repayable in 24 months [5] - The loan is classified as a related party transaction, and the company relied on exemptions from formal valuation and minority shareholder approval requirements [5] Company Overview - Lincoln Gold is a Canadian precious metals development and exploration company based in Vancouver, BC, with interests in the Bell Mountain gold-silver property and the Pine Grove gold property [6] - The Bell Mountain project is fully permitted and moving towards production, while the Pine Grove project is in the final stages of permitting [6] - Both projects are located within 61 air miles of each other in the Walker Lane mineral belt, known for its gold and silver deposits [6]

Core Viewpoint - Latin Metals Inc. has entered into a binding Letter Agreement with Daura Gold Corp. allowing Daura to earn up to an 80% interest in the Cerro Bayo and La Flora projects, enhancing exploration potential in Argentina's precious metal belt [1][5]. Option Terms - Daura can earn a 75% undivided interest in the Properties over a 38-month period from the effective date of the Agreement [2]. - To exercise the Option, Daura must make total payments of US $1,700,000 to Latin Metals, assume US $400,000 in payments to the Underlying Vendor, and complete exploration work commitments [3]. Exploration Commitments - Irrevocable work commitments include 50-line km of IP profiling, 150-line km of gradient array IP, and 1,500 meters of drilling, with a total of 28,000 meters of drilling required before exercising the Option [4]. Joint Venture Formation - Upon exercising the Option, a joint venture will be formed with Daura holding 75% interest, increasing to 80% if the Top-Up Right is exercised [11]. - Daura will assume Latin Metals' right to repurchase a 0.5% NSR royalty from the Underlying Vendor for US $1,000,000 [12]. Financial Terms of Top-Up Right - Daura can increase its interest to 80% by making cash payments based on the mineral resources estimated in the Technical Report, with specific payment schedules outlined [6][9]. Properties Overview - Cerro Bayo and La Flora are located in the Deseado Massif, a region known for significant precious metal discoveries, with over 600 million ounces of silver and 20 million ounces of gold found since 1990 [16]. - The geological setting of Cerro Bayo aligns with known high-grade gold-silver systems in the area [17]. Strategic Position - The projects are strategically positioned in a prolific mining district, benefiting from existing infrastructure and a skilled workforce [14]. - Exploration work has already defined a 6 km-wide structural corridor with multiple low-sulfidation epithermal-style vein targets [15]. Company Background - Latin Metals operates under a prospect generator model, focusing on minimizing risk and dilution while maximizing discovery potential across its 18 projects [20]. - The company is actively seeking new strategic partners to advance its exploration portfolio [20].

Core Insights - Core Silver Corp. has reported significant gold results along with associated silver values from the Silver Lime Polymetallic Project [1] - The Silver Lime Project is located within the 100%-owned Blue Property in the Atlin Mining District of northwestern British Columbia [1] - The President & CEO of Core Silver, Nick Rodway, emphasized the importance of gold in the mineralizing system of Silver Lime [1]

Transaction Overview - Coeur will acquire all outstanding common shares of New Gold, valuing the transaction at approximately $7 billion based on New Gold's basic common shares outstanding[18] - New Gold shareholders will receive 04959 of a Coeur share for each New Gold share, implying a consideration of $851 per New Gold share, representing a 16% premium[18] - Coeur and New Gold shareholders will own approximately 62% and 38% of the combined company, respectively[18] Combined Company Financial Highlights (2026E) - The combined company is expected to generate approximately $3 billion of EBITDA and approximately $2 billion of free cash flow[10] - The combined entity is projected to have $390 million in cash[40] - The combined entity is projected to have $761 million in debt[40] Production and Revenue - The combined company is expected to produce approximately 20 million ounces of silver, 900000 ounces of gold, and 100 million pounds of copper[12] - The combined company's 2026 estimated gold equivalent production is 1243 Koz Au Eq[46] - Gold is expected to account for 72% of the combined 2026 estimated revenue, silver 20%, and copper 8%[13] New Gold Asset Overview (YTD 2025) - New Afton's operating cash flow is $197 million and free cash flow is $115 million[21] - New Afton's copper production is 391 million pounds and gold production is 502K ounces[21] - Rainy River's operating cash flow is $412 million and free cash flow is $215 million[28] - Rainy River's gold production is 1958K ounces[28]

Core Insights - Coeur Mining, Inc. is set to acquire New Gold Inc. in an all-stock transaction valued at approximately $7 billion, creating a new North American senior precious metals producer with a market cap of around $20 billion [1][4]. Transaction Details - The merger has been unanimously approved by both companies' boards and will see New Gold shareholders receive 0.4959 shares of Coeur common stock for each New Gold share, valuing New Gold at $8.51 per share, which is a 16% premium to its closing price as of October 31 [3][4]. - Upon completion, Coeur shareholders will own approximately 62% of the combined entity, while New Gold shareholders will hold about 38% [4]. Production and Financial Projections - The combined company will have a portfolio of seven mines across the U.S., Canada, and Mexico, with an annual production potential of 900,000 ounces of gold, 20 million ounces of silver, and 100 million pounds of copper [4][5]. - The company anticipates generating $3 billion in EBITDA and $2 billion in free cash flow by 2026, with over 80% of revenue coming from North America [5]. Synergies and Growth Potential - The merger is expected to deliver significant operational and financial synergies, including a strengthened balance sheet, lower costs, and expanded organic growth potential [6]. - The combined pipeline will include Coeur's Silvertip project and New Gold's K-Zone expansion, benefiting from the merged company's scale and liquidity [6]. Management and Board Changes - Several members of New Gold's management team will join Coeur, including Patrick Godin, who will join Coeur's Board of Directors [7]. Advisory and Timeline - BMO Capital Markets and RBC Capital Markets are advising Coeur, while National Bank Capital Markets and CIBC Capital Markets are advising New Gold. The transaction is expected to close in the first half of 2026, pending necessary approvals [8].

Core Viewpoint - Denarius Metals Corp. has announced an updated Mineral Resource Estimate (MRE) for its Zancudo Project in Colombia, showing a 23% upgrade to indicated resources and plans to commence a new drilling campaign of 15,000 meters [1][3][17]. Summary by Sections Updated Mineral Resource Estimate - The updated MRE indicates 979,000 tonnes of indicated resources grading 6.9 g/t gold and 84 g/t silver, totaling 217,000 ounces of gold and 2.7 million ounces of silver [5][7]. - Inferred resources increased by 13% to 4.6 million tonnes grading 5.6 g/t gold and 84 g/t silver, totaling 832,000 ounces of gold and 12.5 million ounces of silver [5][7]. Drilling Campaign and Future Plans - The company is preparing for a new drilling campaign of 15,000 meters, targeting high-grade structures and aiming to convert inferred resources to indicated resources [4][6][17]. - The drilling will focus on four primary objectives, including surface in-fill drilling at the Brisas target and the El Castaño target, as well as underground drilling at the Independencia Mine [18]. Project Development and Economic Assessment - The Zancudo Project is fully permitted for production, with a new 1,000 tonnes per day flotation processing plant under construction [4][18]. - An updated preliminary economic assessment (PEA) is being prepared, reflecting the positive impact of the 2024 in-fill drilling campaign and current metal prices [3][4]. Geological and Technical Details - The mineralization at the Zancudo Project occurs in stacked mantos and steeply dipping veins, with a known vertical extent of 400 meters [5][7]. - The updated MRE is based on 47,329 meters of diamond drilling across 194 holes, including 7,225 meters from the 2024 drilling campaign [5][7].

Core Insights - Coeur Mining, Inc. and New Gold Inc. have entered into a definitive agreement for Coeur to acquire New Gold, creating a combined company with seven North American operations expected to generate $3 billion in EBITDA and $2 billion in free cash flow by 2026 [1][2][5] Transaction Details - New Gold shareholders will receive 0.4959 shares of Coeur common stock for each New Gold share, implying a consideration of $8.51 per New Gold share, representing a 16% premium [2] - The total equity value of the transaction is approximately $7 billion, leading to a pro forma combined equity market capitalization of around $20 billion [2] - Upon completion, Coeur stockholders will own approximately 62% and New Gold shareholders will own about 38% of the combined company [2][12] Strategic Rationale - The merger aims to create a leading North American precious metals producer with a market capitalization of approximately $20 billion and a diversified portfolio generating significant free cash flow [5][6] - The transaction is expected to enhance Coeur's financial position, leading to a net cash position at closing and a growing cash balance, which could facilitate a potential investment-grade credit rating [5][6] - The combined company will have a robust growth pipeline, including high-return organic growth opportunities across its operations in North America [5][8] Benefits to Shareholders - Coeur stockholders will benefit from enhanced asset quality and reduced overall costs due to the addition of New Gold's operations [11] - New Gold shareholders will receive immediate value through a significant premium and will gain exposure to a larger, more diversified entity with reduced risk [11][12] - The transaction is expected to be accretive to Coeur's per share metrics, including net asset value and operating cash flow [11] Management and Governance - The combined management team will include members from New Gold, enhancing the organizational strength and resilience [5][8] - Key executives from New Gold, including its President and CEO, will join Coeur's board of directors upon closing [12][17] Regulatory and Approval Process - The transaction requires approval from New Gold shareholders and regulatory bodies, with a special meeting expected in the first quarter of 2026 [12][13] - Both companies' boards have unanimously approved the transaction and recommend that their respective shareholders vote in favor [16][17]