Financial Performance - Alkane Resources Limited reported a significant increase in gold revenue for the year ended June 30, 2025, totaling A$262.36 million, up 52% from A$172.99 million in the previous year [1] - Gold production rose to 70,120 ounces, a 23% increase from 57,217 ounces in June 2024, driven by higher grade ore and improved recoveries [1] - The company achieved a profit after tax of A$33.04 million, an 87% increase compared to A$17.68 million in the prior year [1] Operational Highlights - The all-in sustaining cost (AISC) for gold production was A$2,561 per ounce [1] - The Tomingley profit before tax increased by 84% to A$60.93 million from A$33.12 million [1] - The merger with Mandalay Resources Corporation was approved by shareholders and became effective on August 5, 2025, positioning the company for future growth [2][3] Cash and Investments - As of June 30, 2025, the company held A$60.3 million in cash, bullion, and listed investments, with A$48.1 million in cash and A$12.2 million in bullion at fair value [2] - The market value of listed investments was A$8.0 million [2] Company Overview - Alkane Resources operates three mines in Australia and Sweden, focusing on gold and antimony production [7][8] - The company is also developing the Boda-Kaiser Project, a large gold-copper porphyry project in New South Wales, with ongoing exploration in the Northern Molong Porphyry Project [9]

Core Viewpoint - Alkane Resources Limited is preparing to release Production Guidance for FY2026 and the Annual Resources and Reserves Statement following the merger with Mandalay Resources Corporation, with expectations to provide updates in September 2025 [3][4]. Production Results - The company has announced consolidated production results for FY2025, detailing production from its Costerfield and Björkdal projects, including metal equivalents calculations [2][6]. - Costerfield produced a total of 143,219 tonnes of ore mined with an average gold grade of 9.54 g/t and an antimony grade of 0.75 tonnes for the year [10][11]. - Björkdal mined 910,663 tonnes of ore with an average gold grade of 1.36 g/t, and milled 1,400,734 tonnes of ore with a head grade of 1.09 g/t [10][11]. Revenue and Costs - Costerfield generated a revenue of US$136.842 million for FY2025, while Björkdal contributed US$128.081 million [10][11]. - The cost of sales excluding depreciation and depletion for Costerfield was US$49.478 million, and for Björkdal, it was US$67.268 million [10][11]. Mine Life Information - The company has retracted previously reported mine life information for Costerfield and Björkdal, clarifying that the estimates were based on foreign mineral reserves and not compliant with the JORC Code [7][8][9]. - Future releases will not include such mine life information to avoid misinterpretation as production targets [9]. Resource and Reserve Estimates - Alkane is converting mineral resources and reserves estimates from NI 43-101 to JORC Code compliance for Costerfield and Björkdal, aiming to include these in the 2026 Annual Resources and Reserves Statement [5]. Company Overview - Alkane Resources operates three mines in Australia and Sweden, focusing on gold and antimony production, and is positioned for further growth with a strong balance sheet [12][13].

Core Viewpoint - Alkane Resources Limited has successfully repaid A$45 million of debt, enhancing its financial flexibility and positioning for growth opportunities [1][2]. Group 1: Financial Position - The A$45 million debt repayment was made using the company's cash reserves, leaving Alkane substantially debt-free aside from standard equipment financing [1]. - The repayment reflects the strength of Alkane's balance sheet and provides increased flexibility for pursuing strategic growth opportunities [2]. Group 2: Company Overview - Alkane Resources is an Australia-based gold and antimony producer with three operating mines located in Australia and Sweden [2][3]. - The company's producing assets include the Tomingley gold mine in New South Wales, the Costerfield gold and antimony operation in Victoria, and the Björkdal gold mine in Sweden [3]. Group 3: Growth Potential - Alkane owns the Boda-Kaiser Project, a significant gold-copper porphyry project in New South Wales, and has outlined an economic development pathway in a Scoping Study [4]. - Ongoing exploration in the Northern Molong Porphyry Project aims to enhance the region's reputation for gold, copper, and antimony production [4].

Core Viewpoint - Nova Minerals Limited has announced successful results from the Styx antimony ore sorting test work program, indicating the potential for producing a high-grade, saleable antimony ore concentrate on-site for further processing [1][3]. Summary by Relevant Sections Test Work Results - The bulk ore sorting test utilized 500kg of Styx prospect ore, demonstrating that the Estelle antimony ore is suitable for upgrading through sensor-based ore sorting with an XRT algorithm [5][6]. - The test results showed a 132% upgrade, producing a concentrate with 49.1% antimony trisulfide from a single pass, recovering 60.3% of the contained antimony in just 26.1% of the mass [3][9]. - Gold was also recovered, with a 57.4% increase in grade from 1.90 g/t Au to 2.99 g/t Au, indicating potential synergies between antimony and gold processing circuits [7][9]. Strategic Importance - In the context of geopolitical pressures on Western defense supply chains, the Estelle Project is positioned as a strategic asset, with high-grade antimony and gold prospects confirmed [4][18]. - Nova is actively engaging with the U.S. government through the Defense Industrial Base Consortium and Department of Defense grant applications to address the critical antimony supply gap [4][19]. Future Plans - The company plans to implement ore sorting technology on-site, which will allow for the production of a premium-grade antimony concentrate suitable for direct shipping ore (DSO), potentially generating early cash flow [13][14]. - Ongoing beneficiation and purification test work aims to refine the downstream processing flowsheet, with additional ore sorting tests on the Stibium sample nearing completion [7][19]. Project Overview - The Estelle Project encompasses 514 km of mining claims in Alaska, featuring multiple advanced gold and antimony prospects, including two defined multi-million ounce resources [21]. - The project is located in the Tintina Gold Belt, known for its significant gold and antimony deposits, and historical production [21].

Summary of Southern Cross Gold Consolidated Conference Call Company Overview - **Company**: Southern Cross Gold Consolidated (MWSN.D) - **Focus**: High-grade gold and antimony exploration in Victoria, Australia - **Leadership**: Michael Hudson, President and CEO, has extensive experience in mining and has raised over $500 million for mining companies [1][2] Industry Insights - **Geological Renaissance**: Victoria is experiencing a resurgence in mining due to new geological insights and government support, contrasting with historical perceptions of the region [4][6] - **Comparison with Western Australia**: Historically, Western Australia has dominated gold production, but Victoria is reclaiming its status with significant discoveries [5][13] Project Highlights - **Sunday Creek Project**: - High-grade gold and antimony deposit with a recoverable value where antimony constitutes about 20% [6][28] - Ongoing drilling program with plans to increase from 9 to 22 rigs over the next year [5][6] - Exploration target upgraded to 2.2 to 3.2 million ounces at grades between 8.3 and 10.6 grams gold equivalent [17][18] Financial Metrics - **Funding**: The company is well-funded with $165 million allocated for a 200-kilometer drill program [7][21] - **Shareholder Composition**: 30% of shares held by ultra-high net worth individuals and 25% by institutions, indicating strong investor confidence [8][10] Strategic Plans - **Pathway to Production**: The company is focused on de-risking the project through permitting and drilling, with a decline planned to expedite drilling [22][30] - **Regional Exploration**: $20 million allocated for regional exploration to enhance resource value [23] Market Position - **Unique Asset**: The combination of high-grade gold and significant antimony content positions the project as a rare asset in a tier-one jurisdiction [29][30] - **Government Support**: Victoria has permitted four mines in the last six months, showcasing a favorable regulatory environment for mining [19][20] Technical Aspects - **Metallurgy**: The project features a simple flow sheet with over 80% free gold, producing a marketable antimony-gold concentrate [27][28] - **Drilling Success**: Recent drilling has shown increasing grades and widths, with a median width of over 2 meters for mineralized structures [25][24] Conclusion - **Investment Opportunity**: Southern Cross Gold Consolidated presents a compelling investment case with a strong management team, supportive shareholders, and a clear pathway to production in a revitalized mining jurisdiction [30]

Core Insights - Southern Cross Gold Consolidated Ltd has reported significant drilling results from the Christina prospect, extending mineralization to a depth of 600 meters with multiple high-grade intersections, including 2.9 m at 16.3 g/t Au and 2.5 m at 17.6 g/t Au [2][4][7]. Group 1: High-Grade Intersections - Drill hole SDDSC173 intersected visible gold in four separate locations, with grades reaching up to 58.0 g/t gold over 0.6 m, and multiple high-grade intervals including 2.9 m at 14.4 g/t gold equivalent [7][11]. - The gold-bearing corridor now extends 1.5 km from Apollo East to Christina West, with intersections including 7.1 m at 5.2 g/t gold equivalent, containing higher grades up to 74.8 g/t gold [7][14]. - The deepest high-grade gold intersections at Christina reached 926 meters depth, proving mineralization extends much deeper and further west than previously defined [7][11]. Group 2: Geological Continuity and Expansion - The results validate the geological model and confirm the robust vertical extent of the Sunday Creek system, with systematic infill drilling discovering additional vein sets beyond original interpretations [4][5]. - Multiple high-grade gold zones have been discovered well outside the current exploration area, indicating the deposit continues to grow beyond original geological interpretations [7][11]. - The drilling program is advancing with 33 holes currently pending assay results, indicating ongoing exploration potential [15]. Group 3: Strategic Importance of Antimony - Sunday Creek is positioned as one of the Western world's significant gold-antimony discoveries, with antimony contributing approximately 21% to 24% of the in situ recoverable value [26][32]. - The recent Chinese government announcement to place export limits on antimony products could positively impact Southern Cross Gold, as it may become one of the few large, high-quality antimony projects in the Western world [28][32]. - The dual-metal profile of Sunday Creek enhances its strategic value, especially in light of increasing demand for antimony in defense and semiconductor applications [32][33].

Core Insights - NevGold Corp. has announced significant drill results for oxide gold-antimony at its Limousine Butte Project in Nevada, indicating strong potential for further exploration and development in a key mining jurisdiction [1][6][17] Group 1: Drill Results and Exploration Plans - Recent drill results at Resurrection Ridge show some of the highest oxide gold-antimony grades to date, including LB21-004 with 9.68 g/t AuEq over 11.6 meters and RR03_06 with 1.55 g/t AuEq over 19.8 meters [5][7] - The company plans to continue its exploration program in 2025, focusing on high-grade areas and advancing towards an initial gold-antimony Mineral Resource Estimate (MRE) [3][6] - Ongoing metallurgical testwork is expected to yield results in the coming weeks, and the company is evaluating historical geological data to enhance its exploration strategy [3][6][12] Group 2: Importance of Antimony and Market Context - Antimony is classified as a "Critical Mineral" by the U.S. due to its significance in national security and various technological applications, with the U.S. currently relying on foreign sources for its supply [17][20] - The U.S. government has issued an Executive Order to strengthen domestic mineral production, particularly for critical minerals like antimony, which is essential for military and clean energy applications [18][19] - With approximately 90% of global antimony supply produced by China, Russia, and Tajikistan, recent export restrictions from China have heightened concerns over supply chain security, emphasizing the need for domestic projects [21][22]

Core Viewpoint - Southern Cross Gold Consolidated Ltd has received conditional approval to list its common shares on the Toronto Stock Exchange, transitioning from the TSX Venture Exchange while continuing to trade on the Australian Securities Exchange under the symbol "SX2" [1][2]. Company Overview - Southern Cross Gold Consolidated Ltd controls the Sunday Creek Gold-Antimony Project, located 60 km north of Melbourne, Australia, which is recognized as a significant gold and antimony discovery with exceptional drilling results [4]. - The project has reported 66 intersections exceeding 100 g/t AuEq x m from just 84 km of drilling, with mineralization extending over a 12 km strike length and confirmed continuity from surface to 1,100 m depth [4]. Strategic Value - The dual-metal profile of Sunday Creek, with antimony contributing approximately 20% of the in-situ value alongside gold, has gained importance due to China's export restrictions on antimony, a critical metal for defense and semiconductor applications [5]. - Southern Cross is positioned as a potential key Western antimony supplier, especially following its inclusion in the US Defense Industrial Base Consortium and legislative changes related to AUKUS [5]. Technical Fundamentals - Preliminary metallurgical work indicates non-refractory mineralization suitable for conventional processing, achieving gold recoveries of 93-98% through gravity and flotation methods [6]. - The company maintains a strong cash position, owns over 1,000 hectares of strategic freehold land, and has a large 60 km drill program planned through Q3 2025, positioning it well to advance its gold-antimony discovery [6].

Core Viewpoint - Rua Gold Inc. has reported significant high-grade gold-antimony drilling results at the Auld Creek project, indicating substantial depth potential and continuity of mineralization beyond the current resource estimate [1][2][4]. Company Summary - Rua Gold is focused on expanding the Auld Creek resource, with drilling efforts aimed at both depth and lateral extensions, particularly in the Fraternal and Bonanza prospects [2][4]. - The company has an inferred resource of 700,000 tonnes at 3.1g/t Au and 1.1% Sb, equating to approximately 67,000 ounces of gold and 8,000 tonnes of antimony [11]. - Recent drilling has confirmed high-grade intersections, including 2.1m at 64.0g/t AuEq from a depth of 310m, showcasing the potential for resource growth [4][12]. Industry Context - Antimony is increasingly recognized as a critical mineral due to its applications in renewable energy, batteries, and technology, with prices surging from US$11,350 to over US$60,000 per tonne since early 2024 [8][9]. - The supply of antimony is predominantly controlled by China, Russia, and Tajikistan, making it a strategic material amid geopolitical tensions [8][9]. - New Zealand has included antimony in its Critical Mineral List, reflecting its importance in the global supply chain and the heightened demand for alternative sources [9].

Core Viewpoint - NevGold Corp. has announced significant extensions of oxide gold-antimony mineralization at the Cadillac Valley target within its Limousine Butte Project, indicating promising prospects for further exploration and development in Nevada, a key mining jurisdiction [1][7]. Group 1: Exploration Results - The mineralization at Cadillac Valley now extends over 1.7 kilometers northeast to southwest and over 400 meters laterally, with consistent results across 27 oxide gold-antimony drill holes [6][7]. - Notable drill results include LB119 with 2.28 g/t AuEq over 30.5 meters, LB155 with 1.01 g/t AuEq over 36.6 meters, and LB141 with 1.03 g/t AuEq over 12.2 meters [6][8]. - The ongoing metallurgical testwork program has made positive progress, with results expected in the coming weeks [6][7]. Group 2: Planned Activities - The company plans to continue its active exploration program at Limousine Butte, focusing on advancing both Resurrection Ridge and Cadillac Valley to the Mineral Resource Estimate stage in 2025 [3][7]. - Historical geological data is being evaluated, with a focus on gold and antimony, and re-analysis of historical drilling is currently in progress [6][10]. Group 3: Industry Context - Antimony has been identified as a "Critical Mineral" by the U.S. government, essential for national security and technology applications, with no domestically mined supply currently available [14][17]. - The U.S. Executive Order announced in March 2025 aims to strengthen domestic mineral production and reduce reliance on foreign sources, which is particularly relevant given the global supply concerns for antimony [15][16][18]. - Approximately 90% of the world's antimony supply is produced by China, Russia, and Tajikistan, with recent restrictions on exports from China exacerbating supply chain issues [18]. Group 4: Company Overview - NevGold is focused on large-scale mineral systems in Nevada and Idaho, owning a 100% interest in multiple gold and copper projects [27]. - The company is committed to unlocking the value of its assets, particularly in light of the growing importance of antimony in various applications [7][17].