Recapitalization and Improved Cash Position
Completed a working capital facility with Auramet, increasing the cash balance from $13 million to approximately $25 million. Engaged in discussions for a senior debt facility and other financing options to support the development plan.
Positive Technical Studies
Filed technical studies highlighting the operating and financial potential of assets, with a development path towards producing 0.5 million ounces of gold by the early 2030s.
Increased Gold Sales and Revenue
Gold sales totaled approximately 5,000 ounces, with revenue from gold sales increasing to approximately $14 million for the quarter.
Advancement of Granite Creek and Archimedes Projects
Improved mining rates and development at Granite Creek, and commenced construction activities for the Archimedes Underground project, expected to contribute to production by end of 2026 or early 2027.