Gold and Critical Metal Juniors Make Headlines

PR Title: Gold producer announces special dividend

Analyst Opinion: Positive - MMY has declared a special cash dividend of $0.02/share (2% yield), supported by strong production and EPS growth over the past 12 months. For context, yields of major producers typically range between 1–2%. While this dividend is one-off, our 2026+ outlook indicates the company has the capacity to pay $0.02/share on a regular basis. With $88M in cash ($0.25/share) and zero debt as of September 2025, we believe the company is well-positioned to sustain regular dividend payments.

PR Title: Completes the Alberta refinery site purchase

Analyst Opinion: Positive - FT has closed its previously announced $6M acquisition of a proposed hydrometallurgical refinery site in Alberta (50% paid earlier, balance funded by a NWT government loan), marking a major milestone that lowers project risk. Concentrates from FT’s NICO project in the NWT will be transported to the Alberta site, where a former steel fabrication plant will be converted into a hydrometallurgical refinery producing cobalt sulphates, gold doré, bismuth ingots, and copper. Management is focused on advancing NICO toward a construction decision, project financing, and offtake agreements. The project hosts North America’s largest primary cobalt deposit, the world’s largest bismuth deposit, and a significant gold resource, highlighting its potential strategic role in the North American critical mineral supply chain.

PR Title: Delivers 1,000 tonnes to mill – Processing to start this week

Analyst Opinion: Positive - BLLG has delivered its first 1,000 tonnes of mineralized material from the Dome Mountain gold mine (B.C.) to its milling partner, achieving a key operational milestone. Processing is expected to commence by the end of this week. Dome Mountain hosts high-grade underground resources, benefiting from pre-existing development, and an active toll milling arrangement with Nicola Mining (TSXV: NIM). We believe BLLG can potentially process 55,000 tpy in the first year to produce 15,000 oz of gold, rising to 75,000 tpy for 20,000 oz in year two. Our forecast for first-year EBITDA is US$35–$40M, implying an EV/EBITDA of 2.0x, well below the sector average of 4.3x.

PR Title: Additional drill results from the Aurora copper-molybdenum project in Peru (QP: Ian Gendall, CEO & President of DLP Resources)

Analyst Opinion: Positive – Results from two additional holes in a recently completed drill program returned significant mineralization over wide intervals, including 260.5 m at 1.02% CuEq within a broader 867 m interval grading 0.55% CuEq. These results extend mineralization to the southeast of the current resource envelope. The Aurora project hosts a large inferred resource of 10.2 Blbs at 0.44% CuEq. DLP plans to complete a resource update, and a PEA, in Q1-2026.

PR Title: Announces a $0.52M private placement

Analyst Opinion: Positive – Proceeds will be used to advance exploration at the company’s Gowganda West project in the Abitibi Greenstone Belt, Ontario. The financing follows a successful 2,640 m drill program comprising six holes targeting expansion around the 2023 discovery, which returned 48.5 m grading 0.85 g/t gold. All six holes intersected the same host rocks, and mineralization as the discovery hole, supporting potential continuity. As a pre-resource–stage project, upcoming assay results could serve as catalysts, and provide further insight into the project’s potential.