Core Viewpoint - Galantas Gold Corporation reported its unaudited financial results for the third quarter of 2025, highlighting significant losses and operational challenges while maintaining a focus on safety and regulatory compliance [1]. Financial Performance - Revenue for the quarter ended September 30, 2025, was $0, consistent with the same period in 2024 [2]. - Total expenses for operations were $15,569, a decrease from $22,283 in 2024 [2]. - The net loss for the quarter was $5,004,687, compared to a loss of $740,629 in the same quarter of 2024 [3]. - The working capital deficit improved to $2,557,662 from $14,098,845 year-over-year [4]. - Cash at the end of the quarter was $19,943, down from $383,011 at the same time last year [4]. Operational Highlights - The company reported a cash inflow from operating activities before changes in non-cash working capital of $146,134, compared to $21,801 in 2024 [3]. - Concentrate sales provisional revenues for the third quarter of 2025 totaled US$566,000, slightly up from US$528,000 in the same quarter of 2024 [2]. Safety and Compliance - The company emphasized its commitment to safety, reporting a zero lost time accident rate since the start of underground operations [5]. - Environmental monitoring indicates a high level of regulatory compliance [5].

TORONTO, Nov. 28, 2025 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (the ‘Company’) is pleased to announce its unaudited financial results for the Quarter ended September 30, 2025. Financial Highlights Highlights of the third quarter 2025 results, which are expressed in Canadian Dollars, are summarized below: All figures denominated in Canadian Dollars (CDN$)Quarter EndedSeptember 30 20252024Revenue$0 $0<td style="max-width:1%; width:1%; min-width:1%;;border-t ...

Core Insights - DPM Metals Inc. announced the results of a feasibility study for the Čoka Rakita project in Serbia, confirming robust economics for a high-margin underground mining operation with first quartile costs and a high rate of return based on a $1,900 per ounce gold price assumption [1][2][3] Feasibility Study Highlights - The feasibility study (FS) indicates an additional year of mine life and increased ounces in the initial years compared to the pre-feasibility study (PFS), resulting in improved net present value (NPV) [2][7] - The project is expected to have a 36% internal rate of return (IRR) at a gold price of $1,900 per ounce, with plans to advance permitting for mine construction start-up in early 2027 and first concentrate production anticipated in the first half of 2029 [3][30] - The FS is based on a mineral reserve estimate of 7.34 million tonnes at a grade of 6.44 grams per tonne, containing approximately 1.52 million ounces of gold [6][37] Economic Metrics - The project has a robust after-tax NPV of $782 million at a 5% discount rate and a payback period of 1.8 years [7][10] - Initial capital costs are estimated at $448 million, with an all-in sustaining cost of $644 per ounce of gold [7][22] - The project is expected to produce an average of 148,000 ounces of gold per year over its life, with higher production in the first five years averaging 189,000 ounces per year [17][7] Project Development and Infrastructure - The Čoka Rakita project benefits from established infrastructure, including nearby roads and power lines, and is strategically located near DPM's Chelopech mine [5][22] - The FS includes optimizations in the development layout and design, ground support, ventilation, and dewatering infrastructure to enhance operational efficiency [11][9] Permitting and Community Engagement - DPM has received approval to initiate the Special Purpose Spatial Plan for Čoka Rakita, marking a key permitting milestone [30][29] - The company aims to build strong partnerships with local communities and governments, planning to create over 500 jobs and develop training programs for local personnel [33][32] Mineral Resource and Reserve Estimates - The updated mineral resource estimate indicates a total of 7.34 million tonnes at 6.44 g/t gold, representing a 10% increase in tonnage and an 11% increase in contained ounces compared to the PFS [37][34] - The mineral reserves are classified as probable and are based on a cut-off grade of 2.5 g/t gold, reflecting the project's economic viability [36][41]

Core Insights - Big Ridge Gold Corp. has made significant progress in 2025, including increasing its ownership of the Hope Brook Gold Project to 100% and engaging SGS Geological Services for a Preliminary Economic Assessment [3][4][6] - The company is also preparing concentrate samples for marketing and potential offtake agreements, while its partner Caprock Mining has initiated a Phase I drill program at the Destiny Gold Project [3][7] Hope Brook Gold Project - The Hope Brook Gold Project has a historical production of approximately 750,000 ounces of gold from 1987 to 1997, with a flotation circuit producing a concentrate of about 22% Cu and 34.28 g/t Au [4][11] - The project hosts an Indicated gold resource of 16,190,000 tonnes grading 2.32 grams per tonne for a total of 1.2 million ounces, and Inferred resources of 2,215,000 tonnes grading 3.25 grams per tonne for 231,000 ounces [12] - The company expects positive economics from the Preliminary Economic Assessment due to the high-grade open pit copper and gold resource and strategic location on tidewater, with completion anticipated in the first half of 2026 [4][5] Metallurgical Test Work - Recent metallurgical test work has produced high-grade Cu-Au concentrates ranging from 26% to 30% Cu with 270 to 539 g/t Au, indicating strong potential for marketing and partnerships [5] - The strategic location of the Hope Brook project on tidewater is expected to generate notable interest from potential partners due to current negative smelter treatment and refining charges [5] Destiny Gold Project - Caprock Mining has commenced a Phase I drill program at the Destiny Gold Project, targeting high-grade mineralization identified in historical drill holes with gold grades as high as 26 g/t Au [7] - Big Ridge owns 18 million shares of Caprock Mining and anticipates first anniversary payments under the option agreement, consisting of $100,000 in cash and common shares valued at $250,000 by December 31, 2025 [8]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 reached $177 million, a $14 million increase compared to Q2, driven by a 24% increase in copper concentrate sales at Tucumã and stronger copper and gold prices [17] - Adjusted EBITDA totaled $77.1 million in Q3, with adjusted net income attributable to owners of the company at $27.9 million, or $0.27 per share [17] - Liquidity position at quarter end was $111 million, including $66.3 million in cash and cash equivalents [18] - Net debt leverage ratio improved to 1.9 times at the end of Q3, down from 2.1 times in Q2 and 2.5 times at the end of 2022 [18] Business Line Data and Key Metrics Changes - Consolidated copper production set a record in Q3, with significant contributions from Tucumã, which saw a nearly 20% increase for the second consecutive quarter [10] - At Caraíba, plant throughput levels reached a quarterly volume record, with a decline in grade as expected due to a strategic shift in ore sourcing [11] - Tucumã's production increased by 19% in Q3, driven by a ramp-up in throughput, while Xavantina's production rose by approximately 17% due to mechanization efforts [12][13] Market Data and Key Metrics Changes - The company expects to sell between 10,000 and 15,000 tons of gold concentrate during Q4 2025, with operating costs estimated at approximately $300-$500 per ounce of gold [5] - The average quarterly production of gold at Xavantina was 7,000 ounces in the first half of the year, with a production of nearly 7,000 ounces in October alone [8] Company Strategy and Development Direction - The company is focused on deleveraging its balance sheet and expects to accelerate this process through gold concentrate sales [6][18] - A significant emphasis is placed on operational excellence, health and safety, and optimizing production across all operations [9][10] - The company is also advancing long-term growth initiatives at Furnas, with ongoing drilling and technical work to support future development [15][52] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing transformation and improvements across operations, with expectations for Q4 to be the strongest production quarter of the year [10][12] - The company is addressing inflationary pressures in Brazil through various initiatives, including foreign exchange hedging [22][24] - Management highlighted the importance of mechanization and operational improvements in driving productivity and safety [41][46] Other Important Information - The company has commenced shipping gold concentrate, resulting in its first invoice, and expects to continue this momentum into Q4 [5][19] - A foreign exchange hedge program was in place with a total notional position of $290 million, resulting in a realized gain of $2 million [19] Q&A Session Summary Question: On Xavantina, regarding the remaining 80% of the gold concentrate that has not been sampled yet, what assumptions can be made? - Management indicated that while excitement exists about the potential volume, it is too early to provide specific estimates for the remaining concentrate [20][21] Question: Have there been any significant labor contractor inflation pressures in Brazil? - Management acknowledged inflationary pressures in Brazil but noted efforts to mitigate these through longer-term contracts and hedging strategies [22][24] Question: What is the timeline for sampling the remaining gold concentrate stockpile? - Management stated that the focus is on selling the current volume before continuing sampling, with updates expected quarterly [33][34] Question: How is the company addressing the tailings filtration circuit at Tucumã? - Management confirmed ongoing improvements and the addition of a mobile filter press to enhance capacity [36][37] Question: What are the expectations for mining rates and grades at Xavantina moving into next year? - Management highlighted significant increases in mining rates and grades due to mechanization, with expectations for continued high performance [41][44]

Core Insights - Ero Copper Corp. has announced the results of a year-long initiative to enhance value from its Xavantina Operations in Brazil, including an updated mineral reserve and resource estimate [1][3][5] Group 1: Operational Highlights - The company has successfully mechanized the Xavantina Operations and initiated gold concentrate sales, achieving significant milestones in 2025 [3][5] - Initial shipments of approximately 3,000 tonnes of gold concentrate were completed in October 2025, with expectations to increase shipments to 10,000 to 15,000 tonnes during Q4 2025 [5] - The company has entered into sales contracts for gold concentrate volumes with net payability expected between 90% and 95% based on various factors [5] Group 2: Mineral Reserve and Resource Estimates - The 2025 mineral reserve and resource estimates for the Xavantina Operations include approximately 29,000 ounces of inferred mineral resources in high-grade gold concentrate [5][6] - Total measured and indicated resources now amount to 664,000 ounces, with an inferred resource of 365,000 ounces [5][6] - The mineral reserve estimates are based on a gold price of $2,100 per ounce and an exchange rate of USD/BRL 5.50 [9][12] Group 3: Future Plans and Exploration - The company is conducting additional sampling campaigns to quantify remaining gold concentrate density and grade, with plans to complete this over the next 12 to 18 months [5] - Ongoing exploration efforts are extending the known limits of mineralization within the mine, supporting a planned expansion of underground operations [5][12]

Core Insights - JZR Gold Inc. has announced the production of its first gold concentrate from the Vila Nova Gold Project in Brazil, operated by ECO Mining Oil & Gaz Drilling and Exploration [1] - The project is currently undergoing further testing and optimization of its 800 tonne-per-day bulk sampling gravimetric mill to enhance efficiency and increase processing volume [1] - JZR holds a 50% net profit interest in the Vila Nova Project, acquired through a Joint Venture Royalty Agreement with ECO [2] Company Developments - The CEO of JZR expressed excitement regarding the progress at the Vila Nova Gold Project and noted that ECO has begun stock-piling material at the mill in anticipation of increased throughput [3]

Core Viewpoint - The recent metallurgical test work at the Queensway project confirms high gold recovery rates and supports the feasibility study planned for Q4 2025 [1][9][19]. Group 1: Metallurgical Test Work - The program commenced in late 2024, focusing on master composites from the Keats West zone and re-evaluating low-grade samples from various zones [2][5]. - Approximately 660 meters of drill core, weighing 2,700 kilograms, was selected for testing, resulting in three master composites based on carbon content [6]. - The test results showed an average gold recovery of 89.2%, confirming the flowsheet presented in the preliminary economic assessment (PEA) [9][12]. Group 2: Mineralogical Studies - A mineralogical gold deportment study was conducted, revealing similar mineral assemblages across the tested zones, dominated by quartz, illite, chlorite, and albite [8][10]. - The Keats West Weak sample contained a significant amount of submicroscopic gold, accounting for 49% of its gold content [18]. Group 3: Future Plans - Additional metallurgical test work is planned, including a feasibility study level program, with results expected in the second half of 2026 [19]. - The company aims to establish a gravity/CIL flowsheet and optimize recovery processes for sulphide-associated mineralization [25]. Group 4: Company Overview - New Found Gold holds a 100% interest in the Queensway project, located in Newfoundland and Labrador, and has completed an initial mineral resource estimate and PEA [22][23]. - The company has a solid shareholder base, including a 23.1% holding by Eric Sprott, and is focused on growth and value creation at Queensway [23].

Core Insights - Revival Gold Inc. announced positive results from metallurgical testing in collaboration with Dundee Sustainable Technologies, focusing on the effectiveness of the Glasslock Process on high-grade samples from the Joss deposit at the Beartrack-Arnett Gold Project [1][3] - The testing showed a 31% increase in gold grade and a 99% reduction in arsenic content, with no measurable gold loss during the process [3][10] - A 3,900-meter exploration drilling program is set to begin later this year to further explore the high-grade underground potential at Beartrack-Arnett [4][10] Company Developments - Dundee Corporation acquired a strategic stake in Revival Gold, which led to the metallurgical testing program [3] - The Glasslock Process has been successfully implemented on an industrial scale at Dundee Precious Metal Inc.'s Tsumeb smelter facility in Namibia, indicating its potential for broader application in gold processing [5][10] - Revival Gold is advancing the development of the Mercur Gold Project in Utah while continuing exploration at Beartrack-Arnett [11]

Core Viewpoint - North Bay Resources, Inc. has successfully completed the final acceptance and settlement of its gold concentrate test shipments from the Fran Gold Project, indicating progress in its operations and potential for increased production capacity [1]. Shipment Results - The total weight of gold concentrate shipments in April 2025 was 667 wet pounds, with shipments 2 and 3 processed at the Bishop Gold Mill [5]. - Shipment 2 had a dry weight of 222 pounds, with an average recovered grade of 0.08 ounces per ton, resulting in a per ton value of $260 [6]. - Shipment 3 had a dry weight of 318 pounds, with an average recovered grade of 0.11 ounces per ton, resulting in a per ton value of $360 [6]. Operational Improvements - Upgrades to the raker/classifier during April improved consistency and reduced material size, leading to better recovery rates in shipment 3, which was within 10% of shipment 1 [6]. - The implementation of a drying circuit reduced moisture content by 60% from 16.20% in shipment 2 to 7.15% in shipment 3 [6]. Future Production Plans - The company aims to ramp up production to 100 tons per week in the short term and achieve full commercial production of 100 tons per day thereafter [6]. - A finalized flotation circuit design includes an additional mixing tank to enhance gold recovery through improved reagent addition [7]. Fran Gold Project Development - Mobilization for further development at the Fran Gold Project is set to begin in early June, focusing on exploration and preparation for additional ore shipments [8]. - The company plans to implement grade control on stockpiles to maximize head grade at the mill and ensure continuous throughput [8]. Resource Estimates - The current resource estimate for the Bullion Alley - Main Zone is approximately 20,035,146 tonnes at an average grade of 0.50 grams per tonne, totaling 323,170 troy ounces [10]. - The Bullion Alley - Main Zone combined with the East Extension has a total resource of 43,797,234 tonnes at an average grade of 0.34 grams per tonne, totaling 474,001 troy ounces [11]. Economic Considerations - Using a gold price of $3,100 per ounce, the gross value in the Main Zone is estimated at $50 per tonne, with mining costs at the nearby Blackwater Gold Mine at $9 per tonne processed [12]. - The company is consulting with mine engineering firms regarding detailed economics and mine planning for the bulk tonnage deposit [12]. Geological Insights - Past exploration has revealed large intercepts of mixed vein and disseminated gold, with the deposit area identified to exceed 1000m x 100m x 300m [13]. - The Fran Gold Project is strategically located near significant mining operations, including Centerra Gold's Mt. Milligan Project and Artemis Gold's Blackwater Mine, which enhances its potential for resource development [13].