Highlights Assay results reported for a further 13 drill holes for 4,965m of infill & expansion diamond drilling. Notable, selected drill intercepts from the holes include: HM112: 602m @ 0.32% CuEq incl. 272m @ 0.44% CuEq incl. 40m @ 0.50% CuEq HM121: 495m @ 0.31% CuEq incl. 284m @ 0.42% CuEq HM117: 184m @ 0.51% CuEq (12 - 196m) incl. 16m @ 1.09% CuEq16m @ 0.46% CuEq (268 - 284m)30m @ 0.51% CuEq (300 - 330m) HM111: 64m @ 0.42% CuEq (154 - 218m) incl. 6m @ 0.74% CuEq HM114: 66m @ 0.40% CuEq (28 - ...

Highlights:Chapais reiterates support for responsible development with XXIX's Opemiska Copper Project.Chapais calls for coordinated action across Plan Nord, the Province of Quebec and its public partners.Chapais notes that local benefits strengthened: jobs, training, procurement, long-term growth that Oepmiska will bring.XXIX is committed to moving forward responsibly with structured engagement and phased plans. Toronto, Ontario--(Newsfile Corp. - February 23, 2026) - XXIX Metal Corp‎. (TSXV: XXIX) (OTCQB: ...

Group 1: Precious Metals Market - Gold and silver miners are experiencing significant gains, with Fresnillo shares up 3.3% and Endeavour Mining up 3.1% on the FTSE 100, driven by rising precious metals prices due to tariff uncertainties [1] - The price of gold reached a three-month high above $5,170 per ounce before settling at $5,125 [1] - Silver prices increased by 1.7% to $86 per ounce, having approached $88 earlier, marking a two-week high [2] Group 2: Company News - Johnson Matthey has reduced the sale price of its Catalyst Technologies division to Honeywell from £1.8 billion to £1.325 billion, reflecting a challenging market environment and deferral of key licensing projects [4][5] - The company plans to return approximately £1 billion to shareholders, down from an earlier estimate of £1.4 billion [4] Group 3: Market Overview - The FTSE 100 opened lower, down 16 points to just below 10,671, with notable declines in companies such as Johnson Matthey, which fell 12.7% [3] - JD Sports emerged as a top riser after announcing a £200 million share buyback [3]

Core Viewpoint - The independent RESPEC report validates the geological model of Giant Mining's Majuba Hill project and supports an upcoming fully funded drill program targeting copper-silver mineralization [1][3]. Group 1: Geological and Technical Insights - The RESPEC report provides an updated geological framework and a disciplined exploration roadmap, which is crucial for evaluating the long-term potential of Majuba Hill as a domestic U.S. copper and silver asset [2][7]. - Key geological controls, such as the identification of tourmaline breccia pipes, enhance the ability to target high-priority zones for mineralization [5][9]. - The report recommends re-evaluating historical drilling and surface data in light of the new geological model before systematic drilling begins [9]. Group 2: Strategic Importance and Market Context - Copper is identified as a critical mineral essential for electrification and infrastructure, with long-term demand expected to exceed supply [6][18]. - The location of Majuba Hill in Nevada, a top-ranked mining jurisdiction, is strategically relevant for meeting U.S. domestic copper and silver needs [6][11]. - The project has the potential to contribute to U.S. critical mineral supply, aligning with national priorities for resource security [10][19]. Group 3: Project Development and Future Plans - The upcoming drill program will extend up to 10,000 feet, supported by secured funding, marking a significant phase in the exploration of Majuba Hill [2][7]. - The project has a history of approximately 89,395 feet of drilling, with a replacement value of USD 12.1 million [13]. - The existing infrastructure at Majuba Hill, including access to roads, power, and water, provides a significant advantage for future development [13].

Financial Data and Key Metrics Changes - In Q4 2025, the company achieved net earnings attributable to shareholders of $252 million, or $1.26 per share, with full-year net earnings totaling $520 million, or $2.56 per share, reflecting an increase compared to the prior year [13][14][17] - Revenue for 2025 reached $1.8 billion, supported by higher average realized gold prices, despite lower production volumes compared to 2024 [17] - Free cash flow for the full year was negative $233 million, but positive $316 million when excluding capital investment in the Skouries project [16][17] Business Line Data and Key Metrics Changes - Gold production for 2025 was 488,268 ounces, with Q4 production at 123,416 ounces at an all-in sustaining cost of $1,894 per ounce sold [7][9] - The Olympias mine produced 18,476.73 ounces in Q4, while Klada and Efemçukuru produced 41,140 ounces and 14,496 ounces respectively, with varying all-in sustaining costs [25][26] - The Lamaque Complex delivered 49,307 ounces at an all-in sustaining cost of $1,392 per ounce sold [27] Market Data and Key Metrics Changes - The company noted a favorable gold price environment contributing positively to operating cash flow, with production costs increasing due to higher royalties and labor cost inflation [8][17] - The Turkish operations remain a stable cash-generating foundation for the company, despite local inflation impacting costs [8][17] Company Strategy and Development Direction - The acquisition of Foran Mining is expected to enhance the company's long-term growth pipeline and diversify its portfolio, focusing on per-share value creation and sustainable free cash flow growth [6][36] - The company aims to advance its growth pipeline while maintaining flexibility to return capital to shareholders, including a newly initiated quarterly dividend program [10][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the delivery of the Skouries project, despite delays, emphasizing its long-term potential to generate meaningful cash flow [11][12] - The company anticipates a significant increase in production in 2027, supported by the addition of Skouries and a solid base of lower-cost operations [28][29] Other Important Information - The company reported a strong balance sheet with total liquidity of approximately $976 million at year-end, positioning it well for growth initiatives and capital returns [20] - The first production from Skouries is now expected in early Q3 2026, with commercial production anticipated in Q4 [10][11] Q&A Session Summary Question: Klada's 2026 guidance and its impact on 2027 - Management acknowledged that the 2026 guidance is lower due to lower grades and higher stripping, but they expect to open up new ore sources that could positively impact 2027 production [39][41] Question: Reception of the Foran Mining acquisition - Management reported positive feedback from investors regarding the acquisition, highlighting the benefits of combining high-quality assets and the potential for accelerated investment [48] Question: Tailings management and weather impact - Management confirmed that the delay provides breathing room for tailings management and that heavy rains have not caused significant construction delays [54][56]

Financial Data and Key Metrics Changes - In 2025, the company achieved revenue of $1.8 billion, with net earnings attributable to shareholders of $520 million, or $2.56 per share, reflecting an increase from the previous year [11][12] - Operating cash flow for the year was $743 million, while free cash flow was $316 million when excluding Skouries investment [6][13] - Total cash costs for the fourth quarter were $1,295 per ounce sold, and all-in sustaining costs (AISC) were $1,894 per ounce sold [16] Business Line Data and Key Metrics Changes - Gold production for 2025 was 488,268 ounces, with significant contributions from the Lamaque Complex and steady performance from Klada and Efemçukuru [5][6] - The Olympias mine showed a solid finish, contributing to the overall production figures [5] - Fourth quarter production at Olympias was 18,476.73 ounces, with AISC at $1,676 per ounce sold [24] Market Data and Key Metrics Changes - The company noted a favorable gold price environment that positively impacted operating cash flow [6] - Royalty expenses increased significantly, totaling $124 million in 2025, up from just over $79 million in 2024, primarily due to regulatory changes in Türkiye [15] Company Strategy and Development Direction - The acquisition of Foran Mining is expected to enhance the company's long-term growth pipeline and diversify its portfolio [5] - The company is focused on a clear value creation strategy, including launching a quarterly dividend and advancing a disciplined exploration program [4] - Skouries is anticipated to be a transformational asset, with first production expected in early Q3 2026 and commercial production in Q4 [8][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term potential of Skouries, despite a delay in first concentrate production [10][20] - The company is well-positioned to advance its growth pipeline while maintaining flexibility to return capital to shareholders [8][18] - Management highlighted the importance of safety and operational excellence in achieving production goals [34] Other Important Information - The company repurchased approximately $204 million of shares during 2025 and initiated a quarterly dividend program starting in Q1 2026 [8][18] - The balance sheet remains strong, with total liquidity of approximately $976 million at year-end [18] Q&A Session Summary Question: Klada's 2026 guidance and its impact on 2027 - Management acknowledged that the 2026 guidance is lower due to lower grades and higher stripping but expects to open up new ore sources in the western area [39][40] Question: Reception of the Foran Mining acquisition - Management reported positive feedback from investors, emphasizing the compelling benefits of the acquisition for both companies [44][45] Question: Delay impacts on Skouries and tailings management - Management confirmed that the delay provides breathing room for tailings management and allows for better preparation of equipment before first concentrate [52][54]

Core Viewpoint - Hudbay Minerals Inc. has received key permit amendments for the New Ingerbelle expansion project at its Copper Mountain mine, enhancing copper and gold production, securing jobs, and providing economic benefits [1][2]. Project Development and Economic Impact - The New Ingerbelle expansion is designed to access higher-grade gold mineralization and improve operational efficiency, with a stripping ratio approximately three times lower than current mining areas [5]. - The project is projected to produce approximately 750,000 tonnes of copper, 900,000 ounces of gold, and 5.5 million ounces of silver over its lifespan, positioning Copper Mountain as a critical supplier for the global energy transition [5]. - The expansion is expected to generate over C$11.5 billion in provincial Gross Domestic Product, preserving more than 800 direct jobs and ensuring long-term financial stability for the region [5]. Community Engagement and Partnerships - Throughout the permitting process, the company engaged proactively with local communities and Indigenous bands to ensure transparency and collaborative oversight [3]. - Hudbay finalized refreshed Participation Agreements with the Upper Similkameen Indian Band and Lower Similkameen Indian Band, reinforcing its commitment to strong Indigenous partnerships and responsible mining practices [4]. Commitment to Sustainable Development - The company emphasizes its commitment to responsible resource development and the expansion of copper production, which is vital for electrification and the global energy transition [4]. - Hudbay's mission is to create sustainable value and strong returns by leveraging its strengths in community relations, focused exploration, mine development, and efficient operations [14].

Financial Data and Key Metrics Changes - In Q4 2025, adjusted net earnings were $83 million, or $0.41 per share, benefiting from strong production and elevated metal prices [22] - Full year 2025 adjusted net earnings were $229 million, or $1.12 per share [22] - Consolidated all-in sustaining costs (AISC) on a byproduct basis in Q4 were $1,646 per ounce, while full year AISC was $1,614 per ounce, outperforming guidance [23][24] - Cash balance at the end of 2025 was $529 million, with total liquidity reaching $929 million [25][26] Business Line Data and Key Metrics Changes - Mount Milligan produced over 44,000 ounces of gold and 13 million pounds of copper in Q4 2025, with full year production of over 147,000 ounces of gold and 50 million pounds of copper [13][14] - Öksüt produced over 26,500 ounces of gold in Q4 2025, with full year production exceeding guidance at over 127,700 ounces [15][16] - AISC for Mount Milligan in Q4 was $913 per ounce, significantly lower than the previous quarter [15] - AISC for Öksüt in Q4 was $1,748 per ounce, higher due to lower gold ounces sold and increased sustaining CapEx [16][17] Market Data and Key Metrics Changes - Average realized price for gold in Q4 was $3,415 per ounce and for copper was $4.69 per pound [22] - The molybdenum business unit had a free cash flow deficit of $61 million in Q4, mainly due to spending on the Thompson Creek restart [24] Company Strategy and Development Direction - The company is focused on a self-funded growth strategy, with projects like the Mount Milligan PFS extending mine life to 2045 and the Goldfield Project in Nevada [5][6] - The Kemess project is expected to have an average annual production of 171,000 ounces of gold and 61 million pounds of copper at an AISC of $971 per ounce [7][8] - The company aims to maintain a disciplined approach to capital allocation while advancing its growth project pipeline [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in generating strong cash flow in 2026, allowing for continued investment in growth projects while returning capital to shareholders [5][30] - The company is focused on maintaining operational performance and cost discipline, particularly at Mount Milligan and Öksüt [51][52] Other Important Information - The company received all required permits for Mount Milligan's operations through 2035, including a 10% increase in plant throughput starting in 2028 [11][12] - Operations at the Langeloth facility were suspended following an explosion, with repairs expected to cost $5-$10 million [19][20] Q&A Session Summary Question: Langeloth suspension and inventory build - Management indicated that concentrate purchases would continue during the shutdown, leading to an inventory build [32][33] Question: Water management projects at Mount Milligan - Management clarified that water management is an ongoing process, with some capital expenditures being slightly higher than in previous years [35][36] Question: PFS and resource updates - The purpose of the PFS is to tighten assumptions and advance engineering, with potential for future resource expansion through additional drilling [41][42] Question: CapEx increase at Thompson Creek - Management explained that the increase was due to various factors, including inflation and maintenance, and that the range provided accounts for variability [46][48] Question: Cost discipline across the portfolio - Management attributed cost performance to strong operational discipline and the benefits from byproducts, particularly copper [50][51] Question: Future of the Endako mill - Management stated that the current strategy is to focus on the Thompson Creek mine before considering the Endako mill, which has substantial resources [58][59]

Financial Data and Key Metrics Changes - In Q4 2025, adjusted net earnings were $83 million, or $0.41 per share, benefiting from strong production and elevated metal prices [22] - Full year 2025 adjusted net earnings were $229 million, or $1.12 per share [22] - Consolidated all-in sustaining costs (AISC) on a byproduct basis in Q4 were $1,646 per ounce, while full year AISC was $1,614 per ounce, outperforming guidance [23][24] - Cash balance at the end of 2025 was $529 million, with total liquidity reaching $929 million [25][26] Business Line Data and Key Metrics Changes - Mount Milligan produced over 44,000 ounces of gold and 13 million pounds of copper in Q4 2025, with full year production of over 147,000 ounces of gold and 50 million pounds of copper [13][14] - Öksüt produced over 26,500 ounces of gold in Q4 2025, with full year production exceeding guidance at over 127,700 ounces [16] - AISC for Mount Milligan in Q4 was $913 per ounce, significantly lower than the previous quarter [15] - AISC for Öksüt in Q4 was $1,748 per ounce, higher due to lower gold ounces sold and increased sustaining CapEx [16][17] Market Data and Key Metrics Changes - Average realized price for gold in Q4 was $3,415 per ounce and for copper was $4.69 per pound [22] - Molybdenum sold in Q4 amounted to 3.6 million pounds at an average price of $23.78 per pound [22] Company Strategy and Development Direction - The company is focused on a self-funded growth strategy, with projects like Mount Milligan, Goldfield, and Kemess being key growth opportunities [5][11] - The Kemess project has a robust economic profile with an after-tax NPV of $1.1 billion and an IRR of 16% [8] - The company aims to maintain a disciplined approach to capital allocation while returning capital to shareholders [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in generating strong cash flow in 2026, which will support growth projects and shareholder returns [5][26] - The company is committed to protecting and expanding margins through disciplined cost management [27] - Management highlighted the importance of ongoing exploration and technical work to enhance the growth pipeline [11][28] Other Important Information - The company received all required permits for Mount Milligan operations through 2035, including a 10% increase in plant throughput starting in 2028 [12] - Operations at the Langeloth facility were suspended following an explosion, with repairs expected to cost $5-$10 million [19][20] Q&A Session Summary Question: Langeloth suspension and inventory build - Management indicated that concentrate purchases will continue during the shutdown, leading to an inventory build [32][33] Question: Water management projects at Mount Milligan - Management clarified that water management is an ongoing process, with some capital expenditures being slightly higher than previous years [35][37] Question: Kemess PFS and resource updates - Management stated that the PFS aims to tighten assumptions and advance engineering, with potential for resource expansion through further drilling [41][42] Question: CapEx increase at Thompson Creek - Management explained that the CapEx increase is due to various factors, including inflation and maintenance, and that it is difficult to fix the number precisely [46][48] Question: Cost discipline and performance - Management attributed strong cost performance to site-wide optimization programs and the benefits from byproduct copper prices [50][52] Question: Endako mill value - Management confirmed that the current strategy is to focus on Thompson Creek before considering any actions regarding the Endako mill [58][60]

Financial Data and Key Metrics Changes - In Q4 2025, adjusted net earnings were $83 million, or $0.41 per share, benefiting from strong production and elevated metal prices [21] - Full year 2025 adjusted net earnings were $229 million, or $1.12 per share [21] - Consolidated all-in sustaining costs (AISC) on a byproduct basis for Q4 were $1,646 per ounce, and for the full year, it was $1,614 per ounce, outperforming guidance [22][23] - Cash balance at the end of 2025 was $529 million, with total liquidity at $929 million [25][26] Business Line Data and Key Metrics Changes - Mount Milligan produced over 44,000 ounces of gold and 13 million pounds of copper in Q4 2025, with full year production of over 147,000 ounces of gold and 50 million pounds of copper [13] - Öksüt produced over 26,500 ounces of gold in Q4 2025, with full year production exceeding guidance at over 127,700 ounces [16] - AISC for Mount Milligan in Q4 was $913 per ounce, significantly lower than the previous quarter [14] - AISC for Öksüt in Q4 was $1,748 per ounce, higher due to lower gold ounces sold and increased sustaining CapEx [16][17] Market Data and Key Metrics Changes - Average realized price for gold in Q4 was $3,415 per ounce and for copper was $4.69 per pound [22] - Molybdenum sold in Q4 was approximately 3.6 million pounds at an average price of $23.78 per pound [22] Company Strategy and Development Direction - The company is focused on a self-funded growth strategy, with projects like Mount Milligan, Goldfield, and Kemess being key growth areas [5][6] - The Kemess project has a robust economic profile with an after-tax NPV of $1.1 billion and an IRR of 16% [7] - The company aims to maintain a disciplined approach to capital allocation while returning capital to shareholders [25][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in generating strong cash flow in 2026, which will support growth projects and shareholder returns [5][28] - The company is well-positioned for sustainable value delivery in 2026 and beyond, with a stable operating base and clear growth pipeline [29] Other Important Information - The restart of Thompson Creek is progressing, with approximately 27% of infrastructure refurbishment complete [18] - Operations at the Langeloth facility were suspended due to an explosion, with repairs expected to cost $5-$10 million [19][20] Q&A Session Summary Question: Langeloth suspension and inventory build - Management indicated that concentrate purchases will continue during the shutdown, leading to an inventory build [32][33] Question: Water management projects at Mount Milligan - Management clarified that water management is an ongoing process, with some capital expenditures expected to be slightly higher this year [35][36] Question: Capital expenditure increase at Thompson Creek - Management explained that the increase is due to various factors including inflation and maintenance, with no significant changes in physical equipment costs expected [46][48] Question: Cost discipline across the portfolio - Management attributed cost performance to strong operational discipline and the benefits from byproducts, particularly copper [50][51] Question: Update on Endako mill - Management stated that the current strategy is to focus on Thompson Creek before considering any actions regarding Endako [57][58]