Core Points - Goldgroup Mining Inc. has filed an updated NI 43-101 technical report for the Cerro Prieto gold project in Sonora State, Mexico [1] - The report is titled "Cerro Prieto Project, Heap Leach Project, Magdalena de Kino, State of Sonora, Mexico" and has an effective date of April 4, 2025 [1] Company Summary - Goldgroup Mining Inc. is publicly traded on TSXV under the ticker GGA and on OTCQX under GGAZF [1] - The Cerro Prieto gold project is a significant asset for the company, indicating ongoing development and potential for future production [1]

Core Insights - Galiano Gold Inc. reported its Q3 2025 operating and financial results, highlighting a strong performance despite challenges, including a net loss attributable to common shareholders of $38.6 million [1][24][26] Safety - The company recorded no lost-time injuries (LTI) and one total recordable injury (TRI) during Q3 2025, with 12-month rolling LTI and TRI frequency rates of 0.39 and 0.90 per million hours worked, respectively [5][9] Financial Performance - Cash and cash equivalents stood at $116.4 million as of September 30, 2025, with cash flow from operating activities generating $40.4 million during Q3 2025 [4][29] - Revenue for Q3 2025 reached $114.2 million, a 60% increase from $71.1 million in Q3 2024, driven by a 43% rise in average gold sales prices and a 12% increase in gold ounces sold [24][26] - Adjusted EBITDA for Q3 2025 was reported at $37.8 million, up from $29.0 million in Q3 2024 [29] Mining Operations - The company mined 1.6 million tonnes of ore at an average grade of 0.8 grams per tonne (g/t) gold, with a strip ratio of 7.8:1 during Q3 2025 [4][11] - Gold production for the quarter was 32,533 ounces, a 7% increase compared to Q2 2025, with year-to-date production reaching 83,617 ounces [4][11] - The average gold sales price for Q3 2025 was $3,501 per ounce, setting a record for the company [11][26] Cost and Capital Expenditures - Total cash costs were $1,554 per ounce, with all-in sustaining costs (AISC) at $2,283 per ounce for the quarter, consistent with Q2 2025 [11][12] - Capitalized development pre-stripping costs at Nkran Cut 3 amounted to $12.0 million during Q3 2025 [11] Exploration - The Phase 2 drilling program at Abore was completed, identifying multiple new high-grade ore shoots and a significant new discovery at Abore North [20][25] - The company plans to continue infill and step-out drilling through Q4 2025 based on positive results from the drilling program [25] Revised Guidance - The company revised its gold production guidance for FY 2025 to a range of 120,000 - 125,000 ounces, down from the previous range of 130,000 - 150,000 ounces [12][26] - AISC guidance for FY 2025 was also revised to $2,200 - $2,300 per ounce, up from $1,750 - $1,950 per ounce [12][26]

Core Insights - Gold has experienced a significant increase of approximately 50% in 2025, marking its best performance since 1979 [1] Group 1: Market Performance - The current gold market is undergoing a consolidation phase similar to that observed at the end of the third quarter in 1979 [1]

Core Insights - The podcast discusses stocks with the highest Zacks Rank (1 Strong Buy) and the best VGM (Value, Growth, Momentum) scores, indicating strong earnings estimates and attractive fundamentals [1][2]. Group 1: Stock Highlights - Indivior PLC (INDV) is a small-cap stock with a market cap of $3.94 billion, focusing on medicines for opioid use disorder. It has raised its 2025 revenue guidance for Sublocade, expecting earnings to rise by 30.1% in 2025 and 20.1% in 2026. Shares are up 157% year-to-date [3][4]. - The Travelers Companies, Inc. (TRV) is a large-cap property and casualty insurer with a market cap of $61.9 billion. It reported strong underwriting results in Q3 2025, with earnings expected to rise by 14.6% in 2025 and 6% in 2026. Shares are up 14% year-to-date, with a forward P/E of 11.2, indicating value [4][5]. - OppFi Inc. (OPFI) is a digital finance platform with a market cap of $877 million, providing affordable credit to 48 million Americans lacking traditional options [7].

Core Points - Stellar AfricaGold Inc. has successfully closed a non-brokered private placement, raising a total of $4 million through the issuance of 22,222,222 units at a price of C$0.18 per unit [1][2] - Each unit consists of one common share and one-half of a transferable common share purchase warrant, with warrants allowing the purchase of additional shares at $0.28 for 36 months [2] - Proceeds from the offering will be used for exploration efforts at the Tichka Est Gold Project in Morocco and the Zuénoula gold property in Ivory Coast, as well as for general corporate purposes [3] Financial Details - The total gross proceeds from the offering amount to $4 million [2] - Finder's fees for the offering included $111,938.40 in cash, 557,725 units, and 64,155 non-transferable Finder's Warrants [5] - Two directors subscribed for a total of 677,545 units, generating gross proceeds of $121,958.10, classified as a related party transaction [6] Regulatory Information - All securities issued are subject to a statutory hold period of four months and one day, expiring on March 1, 2026 [4] - The securities have not been registered under the United States Securities Act of 1933 and cannot be offered or sold in the U.S. without compliance with registration requirements [7] Company Overview - Stellar AfricaGold Inc. is focused on precious metals exploration in North and West Africa, with key projects in Morocco and Côte d'Ivoire [8] - The company is listed on the TSX Venture Exchange, Tradegate Exchange, and Frankfurt Stock Exchange [9] - The head office is located in Vancouver, BC, with a representative office in Casablanca, Morocco [10]

Financial Data and Key Metrics Changes - The company reported record earnings of $127 million, or $1.92 per share, with adjusted earnings reaching $136 million, or $2.06 per share after accounting for non-recurring costs [5][19] - Revenue for the quarter was a record $252 million, up 30% year-over-year, driven by a 40% increase in gold prices, a 34% increase in silver prices, and a 6% increase in copper prices [17][19] - Adjusted EBITDA margin remained over 80% for the quarter, supported by stable cash G&A expenses [5][19] Business Line Data and Key Metrics Changes - Royalty revenue increased by approximately 41% year-over-year to $86 million, with strong contributions from Peñasquito, Cortez CC Zone, LaRonde Zone 5, and Voisey's Bay [9] - Stream segment revenue rose by about 25% to $166 million, with increased sales from Andacollo, Rainy River, Mt. Milligan, Comacal, and Wasa, partially offset by lower sales from Xavantina [9] Market Data and Key Metrics Changes - Gold accounted for about 78% of total revenue, followed by silver at 12% and copper at 7% [17] - The company has the highest gold revenue percentage compared to large-cap peers in the royalty and streaming sector [17] Company Strategy and Development Direction - The company aims to diversify its portfolio and has added significant assets through recent acquisitions, including the Goldstream transaction with First Quantum and the acquisitions of Sandstorm Gold and Horizon Copper [6][28] - The management emphasized the importance of communicating the value of the expanded portfolio to the market [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to repay debt by mid-2027 under current metal prices, despite the increased debt level [34][35] - The company plans to maintain its 2025 guidance ranges for metal sales, DD&A, and effective tax rate, excluding contributions from recent acquisitions [20] Other Important Information - The company received the first tranche of gold as part of the Mt. Milligan cost support agreement, which is expected to enhance cash flow [24][25] - The company is actively looking for new investment opportunities, although the focus remains on managing existing debt [90] Q&A Session Summary Question: Can you elaborate on the delivery mechanisms for the Constantian stream? - Management clarified that the delay in expected ounces is due to timing and not a production shortfall, with the ounces expected to be delivered in 2026 [31][32] Question: How comfortable is the company with the current debt level? - Management expressed comfort with the debt level, indicating that pro forma leverage would be between 1 and 1.5 on a net debt to EBITDA basis [34][35] Question: What are the plans for dividend increases and share buybacks? - Management indicated that the board will consider dividend increases in November, emphasizing a commitment to maintaining a record of increasing dividends [70] - Share buybacks are being considered but will depend on market conditions and the company's valuation [71] Question: When will the company provide guidance for 2026? - Management confirmed that 2026 guidance will be discussed during the investor day planned for late March [74] Question: Will the company benefit from processing stockpiles at Xavantina? - Management confirmed that any gold production from processing stockpiles would flow through to the company's interest [76] Question: Is there a potential for inclusion in the S&P 500 following recent transactions? - Management noted that while the transactions enhance the company's profile, it still has a way to go to meet the minimum market capitalization required for S&P 500 inclusion [103]

Financial Data and Key Metrics Changes - The company reported record earnings of $127 million, or $1.92 per share, with adjusted net income reaching a record $136 million, or $2.06 per share after accounting for non-recurring costs [5][19] - Revenue for the third quarter was a record $252 million, up 30% year-over-year, driven by a 40% increase in gold prices, a 34% increase in silver prices, and a 6% increase in copper prices [17][19] - Adjusted EBITDA margin remained over 80% for the quarter, supported by stable cash G&A expenses [5][19] Business Line Data and Key Metrics Changes - Royalty revenue increased by approximately 41% year-over-year to $86 million, with strong contributions from Peñasquito, Cortez CC Zone, LaRonde Zone 5, and Voisey's Bay [9] - Stream segment revenue rose by about 25% to $166 million, with increased sales from Andacollo, Rainy River, Mt. Milligan, Khoemacau, and Wassa, partially offset by lower sales from Xavantina [9][17] Market Data and Key Metrics Changes - Gold accounted for approximately 78% of total revenue, followed by silver at 12% and copper at 7% [17] - The company has the highest gold revenue percentage compared to large-cap peers in the royalty and streaming sector [17] Company Strategy and Development Direction - The company aims to diversify its portfolio and has added significant assets through recent acquisitions, including the Goldstream transaction with First Quantum and the acquisition of Sandstorm Gold and Horizon Copper [6][28] - The strategic rationale for these acquisitions has resonated well with shareholders, indicating a focus on long-term growth and stability [6][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to repay debt by mid-2027 under current metal prices, despite the increased debt load from acquisitions [34][35] - The company plans to maintain its 2025 guidance ranges for metal sales, DD&A, and effective tax rate, excluding contributions from recent acquisitions [20][24] Other Important Information - The company received the first tranche of gold as part of the deferred gold consideration for the Mt. Milligan cost support agreement, which is expected to enhance cash flow [24][25] - The company is actively looking for new investment opportunities, although it remains cautious about the current market conditions and gold price volatility [89][90] Q&A Session Summary Question: Could you elaborate on the delivery mechanisms for the Kansanshi stream? - Management clarified that the delay in expected ounces is due to the timing of delivery mechanisms and not a production shortfall [31][32] Question: How comfortable is the company with the current debt level? - Management expressed comfort with the debt level, indicating a pro forma leverage of between 1 and 1.5 on a net debt to EBITDA basis [34][35] Question: What are the plans for dividend increases and share buybacks? - Management indicated that the board will consider dividend increases in November, emphasizing a commitment to maintaining a record of increasing dividends [70][71] - Regarding share buybacks, management prefers to assess the valuation gap before making decisions [71] Question: When can we expect guidance for 2026? - Management stated that 2026 guidance will be discussed during an investor day planned for late March [46][74] Question: Will there be a bump in the cost base for former Sandstorm assets? - Management noted that they are still finalizing the accounting treatment for the Sandstorm assets, which may affect depreciation [98] Question: Is the company still looking for new transactions? - Management confirmed that they are actively looking for new opportunities, although they are cautious about the scale of potential investments [90][91]

Financial Data and Key Metrics Changes - The average gold price realized was $3,467 per ounce, up 5% from Q2 and 20% from Q1 [4] - Attributable net income reached $123.6 million, or $0.40 per share, driven by a $69 million impairment reversal at the Lindero mine [5][24] - Adjusted net income was $0.17 per share, impacted by higher share-based compensation and a $7.4 million foreign exchange loss in Argentina [5][25] - Free cash flow from operations was $73 million, surpassing analyst consensus of $0.36 per share [5][27] - Liquidity position at the end of the quarter was $588 million, with a net cash position of $266 million [6][27] Business Line Data and Key Metrics Changes - Séguéla produced 38,799 ounces of gold, maintaining consistency with prior quarters and surpassing the mine plan [13] - Lindero achieved gold output of 24,417 ounces, a 4% rise from Q2, driven by a 5% increase in gold grade [18] - Caylloma maintained steady production, with cash costs per silver equivalent ounce at $17.92, up from $15.16 in Q2 [21] Market Data and Key Metrics Changes - The cash cost per ounce for the quarter was $942, broadly aligned with the prior quarter [24] - The all-in sustaining cost decreased significantly to $1,570 per ounce from $1,783 in Q2 [20] Company Strategy and Development Direction - The company is focused on capital allocation towards near-term growth projects, including the Ambasud project and expanding Séguéla's processing infrastructure [31] - Strategic investments in Awale Resources and a joint venture with Soto Resources position the company for growth in the Siguiri Basin [7] Management Comments on Operating Environment and Future Outlook - The business climate in Argentina has improved significantly, and the company remains optimistic about the country's trajectory [11] - In Côte d'Ivoire, the re-election of President Alassane Ouattara is expected to continue pro-business policies [11] - The company anticipates strong production growth driven by the Ambasud and Séguéla projects [12] Other Important Information - The company recorded $13.5 million in withholding taxes related to the repatriation of $118 million from Argentina and Côte d'Ivoire [5] - Capital expenditures for the quarter totaled $48.5 million, with an upward adjustment of anticipated capital expenditures for the full year to approximately $190 million [26][27] Q&A Session Summary Question: How is the company thinking about capital allocation priorities? - The company prioritizes near-term growth projects, including the Ambasud project and potential expansion of Séguéla's processing infrastructure [31] Question: How should the company think about costs into Q4 following the unexpected shutdown at Lindero? - The company does not expect significant cost impacts in Q4 due to effective mitigation strategies [34]

Core Viewpoint - SSR Mining Inc. (NASDAQ:SSRM) experienced a significant decline in stock price by 10.23% to $19.48 due to a lowered production outlook for full-year 2025, despite reporting strong earnings in Q3 [1][3]. Financial Performance - In Q3, SSR Mining reported a net income attributable to shareholders of $65.4 million, a 523% increase from $10.5 million in the same period last year [4]. - Revenues for the same quarter rose by 50% to $385.8 million, up from $257.3 million year-on-year [4]. Production Outlook - The company expects full-year production to be at the lower end of its previous guidance range of 410,000 to 480,000 gold equivalent ounces [2]. - Consolidated costs are projected to reach the upper end of the guidance range due to higher-than-expected gold prices impacting royalty costs and share-based compensation [3]. Management Commentary - Executive Chairman Rodney Antal stated that Q3 operating results were generally aligned with internal plans and expressed optimism for a solid Q4 to meet 2025 production guidance [5]. - The company highlighted growth opportunities, particularly in Türkiye, with plans to advance operations at Çöpler and the Hod Maden investment decision [6].

Financial Performance - Sales increased by 38% year-over-year to $251.4 million in Q3 2025[11, 12] - Operating income increased significantly by 204% year-over-year to $154.6 million[16] - Net cash from operating activities before working capital was $113.9 million, or $0.37 per share[3, 16] - Free cash flow from ongoing operations reached $73.4 million, up from $57.4 million in Q2 2025[3, 16] Production and Operations - Q3 production from continuing operations was 72,462 GEO (Gold Equivalent Ounces)[3, 5] - Séguéla Mine produced 38,799 ounces of gold with cash costs of $688/oz Au and AISC of $1,738/oz Au[5] - Lindero Mine produced 24,417 ounces of gold with cash costs of $1,117/oz Au and AISC of $1,570/oz Au[5] - Caylloma Mine produced 233,612 ounces of silver with cash costs of $17.92/oz Ag Eq and AISC of $25.17/oz Ag Eq[6] Diamba Sud Gold Project - The PEA (Preliminary Economic Assessment) for Diamba Sud projects an initial 3-year average production of 147,000 ounces of gold[6] - The Diamba Sud PEA estimates construction capital costs of $283.2 million[6] - The Diamba Sud PEA indicates an after-tax NPV5% of $563 million and an after-tax IRR of 72% at a gold price of $2,750/oz[6, 7]