Financial Data and Key Metrics Changes - In Q4 2025, Newmont generated $2.8 billion in free cash flow, contributing to a total of $7.3 billion for the full year, marking record earnings and free cash flow on both a quarterly and annual basis [9] - The company achieved a 4% increase in its quarterly common dividend, reflecting a commitment to enhancing shareholder returns [7] - General and administrative (G&A) costs were improved by $100 million, equating to a 21% improvement for 2026 [9] Business Line Data and Key Metrics Changes - Newmont produced 5.7 million ounces of gold, 28 million ounces of silver, and 135,000 tons of copper from its core portfolio in 2025 [8] - The successful completion of the non-core divestiture program generated $4.5 billion in proceeds, with $3.4 billion returned to shareholders through dividends and share repurchases [9] Market Data and Key Metrics Changes - The gold reserve base stands at 180 million ounces, with an additional 149 million ounces of gold resource, representing approximately 40 years of production life [12] - The reserve price assumption for 2025 was increased from $1,700 per ounce to $2,000 per ounce, remaining conservative compared to the three-year trailing average [12][13] Company Strategy and Development Direction - The company is focused on safety, efficiency, operational consistency, and enhancing shareholder returns through predictable capital returns [5][4] - Newmont is advancing a mine life extension program at Lihir and completing a feasibility study for the Red Chris block cave [11][21] - The capital allocation framework prioritizes sustaining capital and dividends, followed by development capital and share repurchases [33][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate a volatile macroeconomic environment while focusing on operational delivery and financial resilience [5][39] - The company anticipates a production trough in 2026 due to planned mine sequencing, with a return to production growth expected in 2027 [25][31] Other Important Information - An investigation is underway following a fatal incident at the Tanami operation, emphasizing the company's commitment to safety [8] - The company is actively pursuing exploration opportunities, particularly at Brucejack and Ahafo South, with expectations of adding significant new gold reserves [17][18] Q&A Session Summary Question: CapEx and potential upside through Red Chris and Merian - Management confirmed that capital guidance remains on track, with updates on Red Chris expected in the second half of the year [44] Question: Discussions with Nevada Gold Mines joint venture partner - Management indicated ongoing discussions focused on improving performance at Nevada Gold Mines [46] Question: Long-term growth targets of 6 million ounces - Management stated that better guidance on achieving the long-term growth target will be provided towards the end of the year [50] Question: M&A opportunities in the current gold price environment - Management expressed satisfaction with the current asset portfolio and indicated that any potential changes would be made in a disciplined manner [52] Question: Capital allocation and buyback commitments - Management confirmed that excess cash would be returned to shareholders through buybacks, with a disciplined approach to capital allocation [56] Question: Cost guidance and inflation drivers - Management noted that costs attributable to sales have remained constant year on year, with significant cost savings initiatives contributing to a reduction in all-in sustaining costs [59][74] Question: Maximizing shareholder value at Nevada Gold Mines - Management highlighted the importance of understanding district potential and optimizing plans across the portfolio to maximize shareholder value [61]

Financial Data and Key Metrics Changes - In Q4 2025, the company achieved record earnings and free cash flow, generating $2.8 billion in free cash flow for the quarter and $7.3 billion for the full year [7] - The company returned $3.4 billion to shareholders through dividends and share repurchases [7] - The quarterly common dividend was increased by 4%, reflecting a commitment to enhance shareholder returns [5] Business Line Data and Key Metrics Changes - The company produced 5.7 million ounces of gold, 28 million ounces of silver, and 135,000 tons of copper from its core portfolio in 2025 [6] - General and administrative (G&A) costs were improved by $100 million, equating to a 21% improvement for 2026 [7] Market Data and Key Metrics Changes - The gold reserve base stands at 180 million ounces, with an additional 149 million ounces of gold resource, representing approximately 40 years of production life [10] - The reserve price assumption for 2025 was increased from $1,700 per ounce to $2,000 per ounce, remaining conservative compared to market averages [11] Company Strategy and Development Direction - The company is focused on safety, efficiency, operational consistency, and enhancing shareholder returns through a disciplined capital allocation framework [4][5] - The strategy includes advancing value-accretive growth options, such as mine life extension programs and feasibility studies for new projects [9][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate a volatile macroeconomic environment while maintaining a disciplined approach to investment [36] - The company anticipates a production trough in 2026 due to planned mine sequencing, with a return to growth expected in 2027 [23] Other Important Information - An investigation is underway following a tragic incident at the Tanami operation, emphasizing the company's commitment to safety [6] - The company is actively pursuing exploration opportunities, particularly at Brucejack and Ahafo South, which are expected to yield significant new reserves [15][16] Q&A Session Summary Question: CapEx and potential upside through Red Chris and Merian - Management confirmed that they are on track to provide more details on the Red Chris project in the second half of the year and emphasized disciplined capital allocation [40][42] Question: Long-term growth targets of 6 million ounces - Management indicated that they will provide better guidance on the long-term growth profile towards the end of the year [48] Question: M&A views in the current gold price environment - Management stated they are satisfied with their current portfolio and will evaluate any value-accretive opportunities in a disciplined manner [50] Question: Capital allocation and buyback commitments - Management confirmed that excess cash would be returned to shareholders through buybacks, with a disciplined approach to maintaining a resilient balance sheet [53][54] Question: Tanami expansion costs and timeline - Management assured that they are on track to meet the projected costs for the Tanami expansion project [77] Question: Debottlenecking and brownfield expansion opportunities - Management acknowledged the importance of evaluating short-term opportunities with low capital investment and highlighted several potential projects for expansion [88][90]

John McCluskey, President and CEO of Alamos Gold, joins Bloomberg Businessweek Daily to discuss the company's most recent earnings results, expected gold output through 2026, and the company's plans to lower mining costs as it opens a new mine in Manitoba, Canada. Alamos is aiming to produce one million ounces of gold annually by 2030 as it works on expansion plans. McCluskey speaks with Carol Massar and Tim Stenovec. ...

(loss)$000s4,6841,80311,506(15,723)Net loss$000s(85,559)(17,730)(198,847)(121,533)Loss per share$/share(0.10)(0.04)(0.30)(0.34)Adjusted loss1$000s(37,779)(24,995)(122,920)(111,221)Adjusted loss per share1$/share(0.05)(0.06)(0.18)(0.31)Cash flow used in operating activities$000s(34,310)(9,223)(83,591) (82,501)Cash and cash equivalents$000s63,24019,00163,24019,001Drillingmeters13,1938,08736,51432,376Gold producedoz5,6746,35931,93026,264Gold ounces sold1oz5,4779,05328,19621,527Average realized gold price2$/oz3 ...

Core Viewpoint - Hecla Mining Co. has experienced significant fluctuations in silver prices, impacting its stock performance and financial results, but remains optimistic about future earnings potential in various market scenarios [1][3]. Financial Performance - Hecla Mining reported record revenue of $1.4 billion for 2025, reflecting a 53% increase from the previous year [2] - Earnings per share for 2025 were 49 cents, up from 6 cents in 2024, with fourth-quarter earnings at 20 cents compared to breakeven a year earlier [2] Market Outlook - The company anticipates a strong performance in 2026, not solely based on rising silver prices but through strategic planning around multiple price scenarios [3] - At a silver price of $30 per ounce and gold at $2,500, free cash flow is projected to exceed $200 million, while at $75 silver and $4,500 gold, it could surpass $600 million [4] Strategic Confidence - Hecla's confidence is built on three key concepts, although specific details of these concepts are not provided in the text [5] - The company has a history of navigating challenges, including a three-year strike and a fire at its Lucky Friday mine, demonstrating resilience [6] Leadership and Operations - Hecla has undergone leadership changes, hiring Rob Krcmarov, a former executive from Barrick Gold, as CEO to enhance operational focus [7] - The company's assets are located in the U.S. and Canada, where the rule of law is stable, contributing to its operational strength [8]

2025 Results & 2026 Guidance FOURTH QUARTER & FULL YEAR 2025 RESULTS NEWMONT CORPORATION 1 Cautionary Statement Regarding Forward Looking Statements, Including Guidance Assumptions, and Notes This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Where a forward ...

Core Insights - Newmont reported quarterly earnings of $2.52 per share, exceeding the consensus estimate of $2 by 25.94% [2] - Quarterly revenue reached $6.82 billion, surpassing the analyst consensus estimate of $6.16 billion and increasing from $5.65 billion in the same period last year [2] - The company achieved record free cash flow of $7.3 billion and generated $3.6 billion from portfolio optimization [3] Financial Performance - Newmont returned $3.4 billion to shareholders and reduced debt by $3.4 billion, ending the year with a strong net cash position [3] - The stock price of Newmont rose 0.85% to $126.47 in extended trading [3] Production and Guidance - The CEO highlighted that 2025 was a milestone year for Newmont, as the company delivered on its full-year guidance and made significant progress on its commitments [2]

Core Insights - Newmont reported quarterly earnings of $2.52 per share, exceeding the consensus estimate of $2 by 25.94% [2] - Quarterly revenue reached $6.82 billion, surpassing the analyst consensus estimate of $6.16 billion and increasing from $5.65 billion in the same period last year [2] - The company achieved a record $7.3 billion in free cash flow and generated $3.6 billion from portfolio optimization [3] Financial Performance - Newmont returned $3.4 billion to shareholders and reduced debt by $3.4 billion [3] - The company closed the year with a strong net cash position [3] Production and Guidance - Newmont's CEO highlighted that 2025 was a milestone year, as the company delivered on its full-year guidance and strengthened its financial position [2]

Core Viewpoint - Endurance Gold Corporation has announced a private placement offering to raise gross proceeds of up to approximately $8,000,000 through the issuance of flow-through units and HD units [1][5]. Group 1: Offering Details - The offering consists of up to 4,188,500 flow-through units priced at $0.955 each, and 6,153,850 HD units priced at $0.65 each [1]. - Each flow-through unit includes one common share and one-half of a common share purchase warrant, with the warrant allowing the purchase of one non-flow-through common share at $0.90 within 24 months after the closing date [2]. - The agents have an option to sell additional HD units equal to 15% of the total units issued in the offering [3]. Group 2: Use of Proceeds - Proceeds from the sale of flow-through units will be used for eligible Canadian exploration expenses related to the company's projects, with a commitment to renounce these expenditures to initial subscribers by December 31, 2026 [4]. - Net proceeds from the sale of HD units will be allocated for drilling, exploration, testing at the Reliance Gold Project, and general corporate purposes [5]. Group 3: Closing and Regulatory Approval - The offering is expected to close around March 11, 2026, subject to necessary regulatory approvals, including conditional approval from the TSX Venture Exchange [6]. - The units will be offered to purchasers in Canada and other qualifying jurisdictions under specific exemptions from prospectus requirements [7].

Core Viewpoint - U.S. equity markets faced volatility as resilient labor market data contrasted with a cautious outlook from Walmart, leading to concerns over consumer spending and geopolitical tensions impacting risk appetite [1]. Major Market Indexes Performance Recap - Major benchmarks ended in negative territory, with the S&P 500 declining 0.28% to 6,861.89, the Nasdaq Composite slipping 0.31% to 22,682.73, and the Dow Jones Industrial Average falling 267 points, or 0.54%, to close at 49,395.16 [2]. Small-Cap vs. Large-Cap Performance - The small-cap Russell 2000 managed a late-day recovery, finishing up 0.25%, indicating that smaller domestic-focused firms found support despite headwinds faced by larger retail and tech companies [3]. Economic Data Insights - Initial jobless claims fell to 206,000, significantly lower than the projected 223,000, marking the lowest level since early January, complicating the Federal Reserve's interest rate cut path [4]. - The U.S. trade deficit unexpectedly widened to -$70.3 billion in December, exceeding the forecasted -$56 billion, while the Philadelphia Fed Manufacturing Index rose to 16.3 in February from 12.6 the previous month, indicating strength in the industrial sector [5]. Corporate News and Stock Movements - Walmart reported better-than-expected fourth-quarter earnings and revenue but saw its stock fall 1.4% due to a disappointing profit forecast, overshadowing a $30 billion share buyback announcement [6]. - Deere & Company shares surged 11.6% after reporting higher-than-expected quarterly profits and raising full-year net income guidance to $4.5 billion to $5.0 billion [7]. - Etsy's stock increased by 21.2% following a significant earnings beat, while Booking Holdings dropped 7.1% amid competition concerns [8]. - Other notable stock movements included Occidental Petroleum rising 9.4%, Blue Owl Capital falling 5.9%, Robinhood Markets tumbling 11.3%, and Nvidia edging higher due to a partnership with Meta Platforms [8]. Upcoming Market Events - Investors are focused on upcoming corporate reports from Newmont Corp. and Consolidated Edison, as well as monitoring Live Nation Entertainment, Texas Roadhouse, and Sprouts Farmers Market for insights into consumer spending [9]. - Nvidia's earnings report is highly anticipated on February 25th, with geopolitical developments in Iran supporting oil prices, which rose 2.6% to $66.71 per barrel [10].