Financial Data and Key Metrics Changes - Revenue for Q2 2025 was $27 million, down from $33 million in Q2 2024, attributed to lower zinc and lead production as the company focused on EC120 development [22] - Silver sales increased with a realized price of $34.22 per ounce, and the company produced 689,000 silver ounces, a significant increase from previous quarters [22][23] - The net loss was $15 million, up from $4 million in Q2 2024, driven by investments in the Galena mine and the transition to EC120 [23] Business Line Data and Key Metrics Changes - At Galena, silver production reached 420,000 ounces, a 34% increase quarter-over-quarter, due to operational enhancements and new equipment [12][15] - Cozola in Mexico saw a 103% production increase over Q1, contributing 269,000 silver ounces in Q2, reflecting successful execution in transitioning to high-grade silver copper EC120 [13][19] Market Data and Key Metrics Changes - 82% of the company's revenue came from silver, surpassing the short-term goal of over 80% exposure to silver by 2025, indicating progress in the silver-focused strategy [27] Company Strategy and Development Direction - The company aims to maximize asset value through disciplined execution and strategic investment, focusing on equipment upgrades and exploration efforts [5][6] - A $100 million senior secured debt facility was closed to support growth strategies, particularly at the Galena complex [6][11] - The introduction of long hole stoping is expected to enhance safety, productivity, and cost efficiency in mining operations [8][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, highlighting operational, explorational, and metallurgical breakthroughs [30] - The company is well-positioned to meet its 2025 goals, with a strong balance sheet and ongoing development programs [13][31] Other Important Information - The company announced a share consolidation, exchanging every 2.5 shares for one, aimed at enhancing stock investability and liquidity [28] Q&A Session Summary - No specific questions and answers were provided in the content, thus this section is not applicable.

Financial Performance - Revenue increased by 42% from $260.1 million in Q2 2024 to $369.4 million in Q2 2025[16, 17] - Adjusted EBITDA increased by 64.8% from $221.9 million in Q2 2024 to $365.7 million in Q2 2025[16, 17] - Adjusted EBITDA per share increased by 65.2% from $1.15 in Q2 2024 to $1.90 in Q2 2025[17] - Net income increased significantly by 210.8% from $79.5 million in Q2 2024 to $247.1 million in Q2 2025[17] - Adjusted net income increased by 64.6% from $144.9 million to $238.5 million[17] - Adjusted net income per share increased by 65.3% from $0.75 to $1.24[17] - Adjusted EBITDA margin increased from 85.3% to 99.0%, a 16.1% increase[17] Production and Pricing - Gold equivalent ounces (GEOs) sold increased by 1.7% from 110,264 in Q2 2024 to 112,093 in Q2 2025[17] - Average gold price increased by 40.2% from $2,338/oz in Q2 2024 to $3,279/oz in Q2 2025[11, 17, 32] Capital and Liquidity - Available capital as of June 30, 2025, is approximately $1.61 billion[25]

Denarius Metals Commencing Activities to Restart Operations at the Aguablanca Project in Spain August 11, 2025 7:00 AM EDT | Source: Denarius Metals Corp. Toronto, Ontario--(Newsfile Corp. - August 11, 2025) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today that it has commenced activities for the restart of operations at the Aguablanca Project in Spain. In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals. ...

Core Viewpoint - Sailfish Royalty Corp. has announced a Normal Course Issuer Bid to repurchase up to 3,767,749 common shares, representing approximately 5% of the total shares outstanding, and has completed the conversion of Gavilanes into a 2% net smelter return royalty (NSR) [1][2][6]. Group 1: Normal Course Issuer Bid - The Company intends to purchase up to 3,767,749 common shares during the 12-month period from August 12, 2025, to August 11, 2026 [2]. - The shares will be acquired at the prevailing market price, with the actual number and timing of purchases determined by management [3]. - All purchases will be made on the open market for cancellation, funded from the Company's working capital [4]. Group 2: Prior Issuer Bid - The previous Normal Course Issuer Bid ran from July 22, 2024, to July 21, 2025, during which the Company repurchased 1,400,200 common shares at an average price of approximately $1.4759 per share [5]. Group 3: Strategic Rationale - The Board of Directors believes that the current market prices do not reflect the underlying value of the shares, and repurchasing shares is seen as a beneficial use of corporate funds [6]. Group 4: Gavilanes Silver Project - The Company has completed the sale of Swordfish Silver Corp. to Advance Metals Limited, which includes the Gavilanes silver exploration project in Durango, Mexico [8]. - The transaction includes a minimum expenditure commitment of $2,000,000 on the property over five years, with a potential cash payment of $500,000 if the commitment is not met [11]. Group 5: OTCQB Listing - To reduce corporate costs, the Company will transition from the OTCQX market to the OTCBQ market effective August 28, 2025 [12]. Group 6: Company Overview - Sailfish is a precious metals royalty and streaming company with key assets including a 3% NSR on the San Albino gold mine in Nicaragua, a 3% NSR on the Spring Valley gold mine in Nevada, and a 2% NSR on the Gavilanes Silver Project [13].

Core Viewpoint - MAG Silver Corp. has declared a total dividend of $0.144 per share, consisting of a fixed dividend of $0.02 and a performance-linked dividend of $0.124, reflecting strong cash flow from the Juanicipio Mine [1][2] Group 1: Dividend Declaration - The total dividend of $0.144 per share will be payable on September 1, 2025, to shareholders on record as of August 18, 2025 [1] - The performance-linked dividend represents approximately 30% of the $40.9 million free cash flow generated by the Juanicipio Mine attributable to MAG [1][2] - The dividend qualifies as an "eligible dividend" under the Income Tax Act (Canada) [1] Group 2: Operational Performance - Exceptional operational execution and industry-leading cost performance at the Juanicipio Mine are driving robust cash flow [2] - The company aims to return capital to shareholders in a disciplined and transparent manner, linking returns directly to operational results [2] Group 3: Future Dividend Considerations - Future dividends will be subject to the discretion and approval of the Board of Directors and may be amended based on the company's financial position and other relevant factors [2] - There are no assurances that future dividends will be declared or paid beyond the current dividend [2] Group 4: Company Overview - MAG Silver Corp. is a growth-oriented Canadian mining and exploration company focused on high-grade precious metals projects in the Americas [3] - The company holds a 44% joint venture interest in the Juanicipio Mine, which has a design capacity of 4,000 tonnes per day [3] - MAG is also engaged in exploration programs at the Deer Trail Project in Utah and the Larder Project in Canada [3]

Financing Details - Nord Precious Metals Mining Inc. has closed the 2nd and final tranche of a non-brokered private placement financing, issuing 400,000 units at a price of $0.12 per unit for gross proceeds of $48,000, bringing total proceeds from both tranches to $228,400 [1][2] - Each unit consists of one common share and one share purchase warrant, with each warrant allowing the purchase of an additional common share at an exercise price of $0.155 for five years [2] - The company has revised the terms of its Flow-through (FT) financing, now issuing 8,333,400 FT units at a price of $0.12 per FT unit for gross proceeds of $1,000,008 [3][4] Finder's Fees - Finder's fees of $3,360 cash and 28,000 non-transferable finder warrants were paid for the final unit tranche, with warrants exercisable at $0.155 for five years [3][5] - For the final FT unit tranche, finder’s fees amounted to $70,000.56 cash and 550,060 non-transferable finder warrants, with warrants exercisable at $0.18 for two years [5] Use of Proceeds - Proceeds from the unit private placement will be allocated for exploration on the Castle East Project in Gowganda, Ontario, as well as for general working capital and administrative costs [6] - Proceeds from the FT unit private placement will also be directed towards exploration on the Castle East Project [6] Company Overview - Nord Precious Metals Mining Inc. operates the only permitted high-grade milling facility in the historic Cobalt Camp of Ontario, integrating high-grade silver discovery with strategic metals recovery operations [7] - The company's flagship Castle property encompasses 63 square kilometers of exploration ground and has delineated 7.56 million ounces of silver in inferred resources grading an average of 8,582 g/t Ag (250.2 oz/ton) [8] - The company employs an integrated processing strategy that supports the recovery of multiple metals, including cobalt and nickel, leveraging its proprietary Re-2Ox hydrometallurgical process [9] Strategic Positioning - Nord maintains a strategic portfolio of battery metals properties in Northern Quebec, including a 35% ownership in Coniagas Battery Metals Inc. and the St. Denis-Sangster lithium project, which spans 260 square kilometers near Cochrane, Ontario [10]

Financial Data and Key Metrics Changes - Wheaton Precious Metals achieved record revenue of $5.03 billion, a 68% increase compared to the previous year, driven by a 32% increase in commodity prices and a 28% increase in sales volumes [16][17] - Net earnings increased by 139% year-over-year to $286 million, while adjusted net earnings rose by 91% [17] - Operating cash flow reached $450 million, a 77% increase from last year [17] Business Line Data and Key Metrics Changes - Production for the quarter was 159,000 gold equivalent ounces (GEOs), a 9% increase from the prior year, primarily due to stronger production at Salobo and the commencement of production at Blackwater [10][12] - Salobo produced 69,400 ounces of attributable gold, a 10% year-over-year increase [10] - Antamina produced 1.3 million ounces of attributable silver, marking a 31% increase compared to last year [11] Market Data and Key Metrics Changes - 65% of revenue came from gold, 33% from silver, with the remainder from palladium and cobalt [17] - The company noted that silver prices have recently outpaced gold, reaching their highest level in over a decade, which positions Wheaton well to benefit from current pricing momentum [17] Company Strategy and Development Direction - Wheaton is focused on disciplined capital deployment, targeting accretive opportunities that generate long-term value [7] - The company aims for a 40% production growth by 2029, which supports its strategy of pursuing high-quality streaming opportunities [7] - Wheaton was recognized among the top 10 companies on Corporate Knight's annual 50 best corporate citizens in Canada, reflecting its commitment to sustainability [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the 2025 production guidance of 600,000 to 670,000 GEOs, with strong performances expected from key assets [6][12] - The leadership changes were highlighted as pivotal for driving the company's strategy forward during a transformative growth phase [5] - Management emphasized the importance of maintaining a robust balance sheet to pursue growth opportunities while supporting shareholder returns [20] Other Important Information - The company has over $1 billion in cash and a $2 billion undrawn revolving credit facility, providing strong liquidity [7][18] - Wheaton launched its second annual Future of Mining Challenge, focusing on sustainable water management technologies [8] Q&A Session Summary Question: How aggressive is Wheaton's stance on deals given the organic growth? - Management stated that they focus on accretive transactions and are currently evaluating 12 to 15 opportunities, with a mix of development and operating stage opportunities [22][23][24] Question: What should be expected regarding global minimum tax payments? - The global minimum tax will be applicable starting in 2024, with the first payment expected in 2026 [25][26][27] Question: How does Wheaton handle potential tariffs on gold deliveries? - Management confirmed that they are insulated from tariffs as they take delivery of credits in London and are not subject to U.S. tariffs [34][35] Question: Are the terms of opportunities becoming more restrictive? - Management noted that while the market is becoming more competitive, they are still comfortable with the opportunities available [44][46] Question: What is the expected impact of the potential acceleration of phase two at Blackwater? - The acceleration is not currently included in long-term guidance, but it could represent a significant increase in production if realized [78][82] Question: What is the outlook for silver production? - Management indicated that silver production is expected to remain stable, with potential increases in Q4 due to improved performance at Antamina [55][56]

Financial Performance - Wheaton Precious Metals achieved record quarterly revenue of $503 million[7] - Net earnings reached $292 million[7], a 139% increase compared to Q2 2024's $122 million[27] - Adjusted net earnings were $286 million[7], a 91% increase from $150 million in Q2 2024[27] - Operating cash flow amounted to $415 million[7], a 77% increase compared to $234 million in Q2 2024[27] - The company declared a quarterly dividend of $0165 per common share, a 65% increase relative to Q3 2024[9] Production and Operations - Salobo's attributable gold production increased by approximately 10% relative to Q2 2024, producing over 69400 ounces of gold[14] - Antamina's attributable silver production increased by 31% compared to Q2 2024, delivering 13 million ounces of silver[14] - The company anticipates achieving its 2025 production guidance of 600000 to 670000 gold equivalent ounces[17] Sustainability and Corporate Development - Wheaton Precious Metals was recognized among the top 10 companies on Corporate Knights' annual Best 50 Corporate Citizens in Canada[11] - The company published its 2024 Sustainability and Climate Change reports[11]

Core Points - Paramount Gold Nevada Corp. announced the release of the draft Environmental Impact Statement (DEIS) for its Grassy Mountain gold project in Oregon, marking a significant milestone in the permitting process [1][4] - The DEIS assesses potential environmental impacts and outlines mitigation measures, initiating a 30-day public comment period [2][3] - The final Environmental Impact Statement (EIS) and the Federal Record of Decision (ROD) are expected to be published in December 2025, completing the federal permitting process [3] Company Overview - Paramount Gold Nevada Corp. is a U.S.-based precious metals exploration and development company focused on creating shareholder value through the exploration and development of mineral properties [5] - The company holds a 100% interest in three projects: Grassy Mountain, Sleeper, and Bald Peak, with Grassy Mountain covering approximately 8,200 acres [6] - The Sleeper Gold Project is located in Northern Nevada and includes the former producing Sleeper mine, while the Bald Peak Project is drill-ready and consists of approximately 2,260 acres [7]

Core Viewpoint - Sandstorm Gold Ltd. reported record financial results for Q2 2025, driven by strong commodity prices, and announced a definitive agreement for Royal Gold, Inc. to acquire Sandstorm in an all-share transaction valued at approximately $3.5 billion [1][2][3]. Financial Highlights - Record revenue of $51.4 million for Q2 2025, up from $41.4 million in Q2 2024 [4][12]. - Attributable production of 15,098 gold equivalent ounces, down from 17,414 ounces in the comparable period in 2024 [4][12]. - Cash flows from operating activities of $37.7 million, compared to $32.6 million in Q2 2024 [4][14]. - Record cash operating margins of $2,981 per attributable gold equivalent ounce, compared to $2,043 in Q2 2024 [4][14]. - Net income of $16.9 million, up from $10.5 million in Q2 2024 [4][14]. Transaction Details - Royal Gold will acquire all Sandstorm common shares at an implied value of approximately $3.5 billion, with Sandstorm shareholders receiving 0.0625 of a Royal Gold share for each Sandstorm share held [2][3]. - Post-transaction, existing Royal Gold and Sandstorm shareholders will own approximately 77% and 23% of the combined company, respectively [2][3]. Portfolio and Growth Potential - The combined portfolios are expected to create a highly diversified precious metals streaming and royalty company, with no single asset accounting for more than 12% of NAV [3][5]. - The gold-dominated portfolio is projected to have a revenue mix of approximately 87% precious metals in 2025, with 75% of total revenues from gold [3][5]. - Significant production growth is anticipated from gold-focused assets such as MARA, Hod Maden, Great Bear, Platreef, and Warintza [3][5]. Operational Insights - Approximately 82% of the gold equivalent production in Q2 2025 was from precious metals, with 11% from copper and 7% from other commodities [12][15]. - The Greenstone gold mine in Ontario is ramping up capacity, with full-year production estimates of 220,000–260,000 ounces in 2025 [16]. - The Chapada copper mine's production was impacted by lower-grade stockpiles, with forecasts of 40,000–45,000 tonnes of copper production in 2025 [18]. Future Outlook - Attributable gold equivalent ounces are forecasted to be between 65,000 and 80,000 ounces in 2025, with long-term production expected to reach approximately 150,000 ounces by 2030 [11][12]. - The company continues to focus on deleveraging, having made $25 million in net debt repayments during Q2 2025 [7].