Newmont Mining Corporation

Some of the

earlier Spring Peak drilling in the Walker Lane in partnership with Newmont, we've had some pretty big holes come out of that.

That has been in a bit of a permitting cycle over the last 18 months.

So we haven't seen those sorts of holes come out, just simply by virtue of the fact we've been focusing on expanding the permit footprint.

We recognized pretty early as the story kept growing and the spatial footprint of that target kept growing, it's going to take a lot of capital, a lot of drilling to test this thing.

That's an example of a project that gets fast-tracked into the partnership side of the portfolio.

And within a couple of months, we were able to put together a partnership with Newmont on that.

And so we're teeing up that project right now for Newmont-funded drilling in early 2027.

And they are watching into the street.

Go to Mansour Dubia, where recently Newmont reclaimed that part of the land.

Recently, just three days ago when we were coming from Napa, two excavators were sitting in the reclaimed parts of the land they had digged.

This is just a walking distance from the Mansour Nubia Police Station.

So as we start to chase this high-grade structure, the depth, one of the things we're looking to highlight is showing that mid to longer-term potential that our Enchi project has.

We've talked about it before, but when you look at similar deposits along the Sefwi Bibiani belt from us, including Turano at 5.5 million ounces and growing, Bibiani at 6.5 and growing, Newmont's a half-o-mine at 20 million ounces.

these greenstone deposits, as you start to identify and continue to chase these high-grade structures, there's an opportunity to meaningfully add ounces.

So these results continue to prove that prove that out within these results we also intercepted 1.5 grams over 21 meters but again within that we hit 5.4 grams over 5 meters so more of that high grade coming through within these results and I would highlight that this is a limited number of drill holes we've only put out four holes here And obviously a couple of them have had very high grade, as well as some nice wider intercepts of 0.82 grams over 40 meters, within that over 2 grams over 9 meters.

But, you know, Barrick has had some issues in the past couple of years.

Newmont is the same thing as well in terms of their international growth.

And for guys who can crack the seniors, I think they'll start to get better valuations and more dollars.

And generally, I'm very bullish on gold anyway.

I'm really surprised that it hasn't sold out as it has.

Now, some of the majors, Newmont, Barrick, Agnego, for some reason, people don't want to own the majors.

But some of the mid-tiers have hung in really well.

I mean, look at Montage.

I've been in the business, mining business for over 35 years.

I started with a company that was a spinoff from Newmont in the late 1980s called Magma Copper.

Those shareholders at Magma Copper were really happy.

We were spun into, and by the way, I was on the C-suite with Magma Copper, and we were spun into the NYSE as a standalone company by Newmont and started out with about a $200 million market cap.

we were able to effectively re... recalibrate the company.

We raised a lot of money through Wall Street.

Warburg Pincus was one of the largest institutions that came in and helped us.

And we were able to essentially buy Newmont out who had a strangling preferred stock.

Iron ore is coming out of Singapore at $91.10. And coal prices, $1.52, spot $6.05. uh commodity themes in u.s markets so lithium stocks fell 2.8 copper stocks were down 1.2 uranium shares 2.2 percent lower and gold stocks over in canada were hit about three percent uh we've got uh the us dollar at 101.92 so that was lower down about 40 bps The Aussie was also lowered down by about 30 bps at 70.33. BHP should open up 1.1% this morning.

Newmont was down 1.8% in the US.

ResMed up 1%.

James Hardy had a good session there up 3%.