Mining Review 18th January 2026

Catalyst Metals, Equinox Gold, and G Mining Ventures all announced record production and revenues. Lahontan Gold drilled thick, shallow gold.

The lithium price is rising quickly, up 63% in a month.

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Santa Fe panoramic view – Courtesy of Lahontan Gold

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City Investors Circle Mining Review 18th January 2026

Catalyst Metals, Equinox Gold, and G Mining Ventures all announced record production and revenues, please click the links below to read the full news release.

Lahontan Gold drilled thick shallow gold in Nevada.

West Red Lake Gold Mines finally declared commercial production at the Madsen mine, and the price popped to a new all-time high of C$1.24.

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The lithium price is rising quickly, up 63% in a month. The Chinese government is struggling to control the price. Some forecasters predict a modest rise in price.

  Lahontan Gold Drills Thick, Shallow Gold at York and Slab

  Catalyst Metals Reported Record Plutonic gold production

  Equinox Gold Delivered Record Q4 Production and FY 2025 Gold Production

  G Mining Ventures Reported Q4 2025 Operational Results

  West Red Lake Gold Declared Commercial Production at Madsen

  Heliostar Provided 2026 Guidance and Growth Plan

  Mining Review 11th January 2026

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Market Data

Weekly Price Changes

(US$ unless stated)

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in some of the companies mentioned.

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Mining Review 11th January 2026

We make some adjustments in our watchlists, with three new entrants in the exploration category, and two Tier 2 companies exiting due to poor performance.

Gold and silver remain strong as silver registers a new nominal all-time high.

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Mogotes Metals Filo Sur vista – Credits Mogotes Metals

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City Investors Circle Mining Review 11th January 2026

Pacgold announced the commencement of production operations at its newly acquired White Dam project in South Australia.

G2 Goldfields and Lefroy Exploration both announced good drill intersections for gold.

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Gold and silver remain strong as silver registers a new nominal all-time high price around $80.

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We are making some additions to  to our watchlists in the exploration tier 4 stage, and deleting a couple of companies from our tier 2 watchlist, please see the changes below.

The new entrants are early stage projects with scale potential, and proven management teams.

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In

Fuerte Metals    (FMT.V)   Coffee Gold Project in the Yukon

Lahontan Gold  (LH.V)      Restarting the Santa Fe gold mine in Nevada.

Mogotes Metals (MOG.V   Filo Sur project abuts the Filo Del Sur copper project.

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Fuerte Metals has acquired the Coffee Gold Project in the Yukon from Newmont, who has spent over $300 million in prior investment. The company also has two advanced exploration projects in Mexico, and an early stage one in Chile.

Lahontan is restarting the old producing Santa Fe gold mine in Nevada. CEO Kimberley Anne is very experienced and driven to restart production rather than be acquired.

Mogotes Metals has huge potential as its Filo Sur copper / gold / silver project which abuts the Filo Del Sur project acquired by BHP / Lundin for C$4.5 billion when metal prices were much lower.

The company has just raised substantial funds for a large drilling campaign. Positive news from that would surely bring out the deep pocketed suitors?

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Out

Magnetic Resources   (ASX: MAU)

Minera Alamos     (MAI.V)

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Both these companies are not performing as per my expectations.

Magnetic is waiting to be acquired, but how much longer will it take? The share price is flat lining in a range whilst other gold projects in the region are performing with the rising price of gold.

Minera Alamos has disappointed over an extended period, and the purchase of the Pan gold mine in Nevada looks more like an act of desperation to buy production after the disappointment of their projects in Mexico in my opinion.

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News from our other tier 1 and 2 watchlist companies is pasted below, click on the link to be taken to the full story.Archives

Barton Gold (ASX: BGD)

Md and CEO Alexander Scanlon emailed investors with a positive note highlighting the  company’s achievements during 2025 and the prospects for production startup in late 2026.

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Credits Barton Gold

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Barton Gold CEO Sends a Positive Message for 2026

Dear Investors & Colleagues,

I hope this mail finds you well, enjoying the holidays with friends and family, and looking forward to an exciting 2026. What a massive year it has been for Barton.

2025 has been transformational in all respects, with several notable project and corporate achievements jointly symbolising the ‘pivot point’ between the last 5 years of ‘building our thesis’, and the next 5 years of ‘executing our plan’ and realising the value of the platform we have methodically and [very] cost-efficiently assembled.

These include:

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The live Barton Gold share price and chart can be found HERE 

..To View Barton Gold’s’ historical news, please click here

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

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,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Barton Gold.

.

To read our full terms and conditions, please click HERE

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Mining Review 4th January 2026

Gold and silver are volatile again after the New Year.

Western Gold is about to become the next Australian producing gold miner, with a startup imminent in Q1 2026.

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City Investors Circle Mining Review 4th January 2026

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Mining Review 4th January 2026

Gold and silver are volatile again after the New Year.

Gold is still hovering above $4,300, but silver remains around it’s all-time high price as supply remains tight. The CME has twice raised margin requirements to try and curb speculators, but to no avail thus far.

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Western Gold is about to become the next Australian producing gold miner, with a startup imminent in Q1 2026.

Western Gold are featured in our tier2 Watchlist as a late stage developer, early production company. Arrangements are now almost complete for production startup, and I expect the share price to run closer to the commencement of production.

I hold shares in Western Gold and recently added. I intend to rotate some profits from another company to increase my holding here in the near term to take advantage of any rise in share price that normally occurs as a developer enters production.

News from our other tier 1 and 2 watchlist companies is pasted below, click on the link to be taken to the full story.

  Market Review December 2025

  Stocks to Watch in 2026 – Colonial Coal

  Stocks to watch in 2026 – Barton Gold

  Companies to Watch in 2026 – Heliostar Metals

  Companies to Watch in 2026 – Silver Storm

  Barton Gold High Resolution Gravity Survey Targets Challenger Repeats

  Orla Mining Confirms 2 Km Gold Trend Extension at Musselwhite 

  Pacgold receive Approval to restart Heap Leach irrigation

  Ora Banda Mining Confirms a Significant Extension at Sand King

  Great Boulder Resources  +1 M Oz High-Grade Gold Resources at Side Well

  Pacgold’s St George Defines 14km Gold and Antimony Anomaly

  Kaiser Reef Completes Union Hill Waste Dump Drilling

  Westgold Sells Mt. Henry to Alicanto Minerals

  Westgold to Spin-Out Non-Core Assets to Valiant

  Equinox Gold Sale of Brazil Operations, Reduces Debt

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in some of the companies mentioned.

.

Horizon Minerals (ASX:  HRZ)

Announced that its wholly owned subsidiary, Poseidon Nickel Pty Limited, has executed a formal Asset Sale Agreement with Forrestania Resources (ASX:FRS) (for the divestment of the Company’s 100% owned Lake Johnston Project.

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LAKE JOHNSTON FORMAL SALE AGREEMENT EXECUTED

Capricorn Metals (ASX: CMM)

Advised that it has entered into a binding agreement with Tempest Minerals Limited to acquire the prospective Yalgoo Project tenement package, covering 1,000 square kilometres of tenure located contiguous to Capricorn’s Golden Range and Fields Find tenure.

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Capricorn Metals projects location map – Credits Capricorn Metals

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ACQUISITION OF YALGOO PROJECT EXPANDS CAPRICORN’S MT GIBSON PROJECT TENURE

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Capricorn Metals Ltd (ASX: CMM) (“Capricorn” or “the Company”) is pleased to advise that it has entered into a binding agreement with Tempest Minerals Limited (“Tempest”) to acquire the prospective Yalgoo Project tenement package (“Yalgoo Project”).

The Yalgoo Project covers approximately 1,000 square kilometres of tenure located contiguous to Capricorn’s Golden Range and Fields Find tenure, north of the Mt Gibson Gold Project (“MGGP”) in the South Murchison region of Western Australia.

The Yalgoo Project is considered highly prospective for gold mineralisation, featuring multiple settings conducive to hosting economic gold deposits.

Capricorn has identified several target zones for exploration within the project tenure.

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Highlights

The transaction consideration is $4.5 million, comprised of an initial cash deposit
of $100,000 which has been paid by Capricorn, $400,000 cash on completion;

The balance of $4.0 million to be satisfied by the issue of fully paid ordinary
shares in Capricorn, calculated by reference to the 5-day VWAP prior to completion
occurring.

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To read the full report please click HERE

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To see the latest share price and chart, please click HERE

To View Capricorn Metal’s historical news, please click here

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Capricorn Metals

.

To read our full terms and conditions, please click HERE

Market Review December 2025

The highlighted company is Fuerte Metals

An exciting year for mining investors is reviewed, highlighting the positive average gains made on all the site’s four company watchlists, and the best performing mining companies.

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City Investors Circle Market Review December 2025

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The highlighted company is Fuerte Metals (TSX.V: FMT)

An exciting year for mining investors is reviewed, highlighting the positive average gains made on all the site’s four company watchlists, and the best performing mining companies during the past year.

The commodity that gained the most value during 2025 is a surprise, read the newsletter to find out the commodity concerned.

Other companies mentioned include Orla Mining and Westgold.

The main topic is the nominal all-time high price of gold, silver, and platinum.

After a brief wobble of the gold and silver prices they have bounced back and producing miners remain around recent highs.

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To read the December 2025 Market Review, please click HERE.

To receive future issues of the Market Review and invitations to our free to attend mining presentations, please email andrew@city-investors-circle.com

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Archive of November’s news releases is listed below, click the link to be taken to the full story.

  Stocks to Watch in 2026 – Colonial Coal

  Stocks to watch in 2026 – Barton Gold

  Companies to Watch in 2026 – Heliostar Metals

  Companies to Watch in 2026 – Silver Storm

  US Stock Markets are open today

  Merry Christmas From City Investors Circle

  Barton Gold High Resolution Gravity Survey Targets Challenger Repeats

  Orla Confirms 2 Km Gold Trend Extension at Musselwhite 

  Pacgold receive Approval to restart Heap Leach irrigation

  Ora Banda Confirm Significant Extension at Sand King

  Great Boulder +1 M Oz High-Grade Gold Resources at Side Well

  Pacgold’s St George Defines 14km Gold and Antimony Anomaly

  Kaiser Reef Completes Union Hill Waste Dump Drilling

  Westgold Sells Mt. Henry to Alicanto Minerals

  Westgold to Spin-Out Non-Core Assets to Valiant

  Equinox Gold Sale of Brazil Operations, Reduces Debt

  Mining Review 14th December 2025

  Westgold Resumes Mining at Great Fingall

  G Mining Ventures Receives Mining License for Oko West

  Cabral Gold Drills New Mineralized Structure at Cuiú Cuiú

  New Murchison Gold’s Crown Prince Continuing to Deliver

  Meeka Discovers High-Grade Gold on the Fairway

  Capricorn and Ora Banda Mining added to the S & P ASX 100

  Mining Review 7th December 2025

  Orla Mining Announces Dividend and Quarterly Dividend Program

  Caprice begins Air Core Drilling at The Island Gold Project

  Mines and Money London 2025

  Orla Mining Discovers High-Grade Oxide Gold at South Carlin

  Barton Gold Reports Broad, High-Grade Assays at ‘S1’ Pit Area

  Northern Miner London Symposium

  Market Review November 2025 Published

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author may hold shares in some or all of the companies mentioned

.

Mining Review 21st December 2025

The big news of the week was Equinox Gold’s Brazilian asset sale to reduce debt.

Great Boulder, Ora Banda Mining, and Pacgold all announced exploration successes.

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Aerial view of the White Dam Project – Courtesy of Pacgold Ltd.

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City Investors Circle Mining Review 21st December 2025

The big news of the week was Equinox Gold’s Brazilian asset sale to reduce debt.

Great Boulder, Ora Banda Mining, and Pacgold all announced exploration successes.

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A list of all the significant news releases from our watchlist companies last week is below, please click on the link to be taken to the full story. Arc

   Ora Banda Confirms Significant Extension at Sand King

  Great Boulder +1 M Oz High-Grade Gold Resources at Side Well

  Pacgold’s St George Defines 14km Gold and Antimony Anomaly

  Kaiser Reef Completes Union Hill Waste Dump Drilling

  Westgold Sells Mt. Henry to Alicanto Minerals

  Westgold to Spin-Out Non-Core Assets to Valiant

  Equinox Gold Sale of Brazil Operations, Reduces Debt

  Mining Review 14th December 2025

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We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non-deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

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Mining Review 14th December 2025

A strong week for gold and silver, pushing up the share prices of producing precious metal miners. The silver price recorded a nominal all-time high of over $64.

Meeka Metals made a high-grade gold discovery, and G Mining Ventures received its mining licence for the Oko West gold mine in Guyana.

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City Investors Circle Mining Review 14th December 2025

A strong week for gold and silver, pushing up the share prices of producing precious metal miners. The silver price recorded a nominal all-time high of over $64.

Meeka Metals made a high-grade gold discovery, and G Mining Ventures received its mining licence for the Oko West gold mine in Guyana.

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As Friday opens in New York, gold is trading at $43.41, and silver, $64.12 (Source Kitco).

The reasons are the reduced interest rate decision by the FED, and that Quantitive Easing has resumed in the US.

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G Mining Ventures announced the major news of the week, the issuing of their mining licence for Oko West in Guyana. The company will now quickly advance the project construction, finance is already arranged and the company enjoys positive cashflow from their TZ mine in Brazil.

Cabral Gold and Meeka Metals both announced good gold discoveries on their projects.

New Murchison Gold’s Crown Prince property continues to deliver a strong third month of production.

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A list of all the significant news releases from our watchlist companies last week is below, please click on the link to be taken to the full story. Archives

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We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non-deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

.

Westgold Resources (ASX | TSX: WGX)

Has successfully fired the first high-grade stope at its iconic Great Fingall Mine – now accessing virgin areas of the famous gold reef last mined more than a century ago.

Located near the town of Cue in Western Australia, the Great Fingall mine produced an astonishing 1.2Moz of gold between 1891 and 1918.

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Westgold Recommences Mining at Great Fingall

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Perth, Western Australia, 11 December 2025: Westgold Resources Limited (ASX | TSX: WGX – Westgold or the Company) confirms it has successfully fired the first high-grade stope at its iconic Great Fingall Mine – now accessing virgin areas of the famous gold reef last mined more than a century ago.

Located near the town of Cue in Western Australia, the Great Fingall mine produced an
astonishing 1.2Moz of gold between 1891 and 1918 − from just 1.9Mt of ore, notably without the benefit of modern mining technology.

At steady state production from 2027, Great Fingall will deliver ~0.5Mtpa of high-grade ore to Westgold’s Cue processing hub, supplementing ore feed from its nearby +1Mtpa Big Bell mine.

Highlights

• Reef mining has recommenced at the historically significant Great Fingall
  Mine near Cue.
  First stope firing delivered grades averaging between 3-4 g/t Au.
  Great Fingall high-grade ore to boost production at Cue processing hub –
  complementing Big Bell’s volume contribution.
  Ramp-up underway toward steady-state production of ≈ 40ktpm from Great
  Fingall and Golden Crown by late FY27.
  Underground drilling continues – targeting mine life extensions and new targets
  beyond the current six-year plan.

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To read the full news release please click HERE

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To view the latest share price and stock chart, please click HERE

.To View Westgold’s historical news, please click here

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Westgold.

.

Cabral Gold Inc. (TSX.V: CBR)

Announced drill results from 17 shallow reconnaissance RC drill holes at the previously untested Mutum target located 1300 metres NW of the Central Gold deposit and 500 metres SE of the PDM gold discovery within the Cuiú Cuiú district.

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Cabral Gold – MG Deposit, Para state, Brazil – Credits Cabral Gold

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Cabral Gold Drills New Mineralized Structure Connecting PDM and Central Gold Deposits, Cuiú Cuiú Gold District, Brazil

New Murchison Gold (ASX:NMG)

Provided an update on production at the Crown Prince Gold Mine.

The operation has had a strong third month of mining and crushing with 67,199 dry tonnes of ore at an agreed grade of 3.69g/t Au sold.

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New Murchison God project location map – Courtesy of New Murchison Gold Ltd.

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NEW MURCHISON GOLD’S CROWN PRINCE CONTINUING TO DELIVER

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New Murchison Gold Limited (ASX:NMG) (NMG or the Company) is pleased to provide an update on production at the Crown Prince Gold Mine (Crown Prince).

The operation has had a strong third month of mining and crushing with 67,199 dry tonnes of ore at an agreed grade of 3.69g/t Au sold to Westgold Resources Limited’s (ASX:WGX, “Westgold”) subsidiary Big Bell Gold Operations Pty Ltd (BBGO) for processing at their Bluebird gold processing facility 36km by road south of Crown Prince.

In accordance with the Ore Purchase Agreement (OPA) between NMG and WGX the agreed monthly recoverable gold ounces in ore sold was 7,630 oz with the related ore sales payment due at the end of December 2025.

The unreconciled production inventory on site at the end of November includes approximately 16,200t (wet tonnes) of Crown Prince crushed ore.

NMG is also pleased to report that the next monthly payment was received from Westgold late in November (for October’s ore sales) totalling $41.6 million (includes GST and is net of trucking costs, BBGO processing costs and BBGO Margin).

Payment terms are further detailed in NMG’s ASX release 24 January 2025.

Future production updates will be provided through Quarterly Reports.

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.Alex Passmore NMG’s CEO commented:

“We are pleased to advise the market of the strong start of the Crown Prince Gold Mine and that the operation has stabilised at production levels in line or better than the
company’s feasibility study estimates.

 

“Notably this is the second month Westgold has provided us with the opportunity to exceed the OPA monthly cap of 50,000t per month.”

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To read the full news release please click HERE

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..

To View New Murchison Gold’s latest share price and chart, please click here

.To View New Murchison Gold’s historical news, please click here

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in New Murchison Gold.

.

Meeka Metals (ASX: MEK)

First pass exploration drilling delivers immediate results hitting high-grade gold at Rosapenna within the Fairway shear zone (between the Turnberry and St Anne’s mines) at the Murchison Gold Project.

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Meeka hits 23m @ 1.05g/t Au – Exploration Drilling Hits High-Grade Gold on the
Fairway

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Meeka Metals (ASX: MEK) First pass exploration drilling delivers immediate results hitting high-grade gold at Rosapenna within the Fairway shear zone (between the Turnberry and St Anne’s mines) at the Murchison Gold Project (“Murchison”).

• Rosapenna Target: broad zones of high-grade gold intersected in exploration drilling at
this new target ~500m south of Turnberry within the Fairway shear zone. Results include:
o 23m @ 1.05g/t Au from 76m including 4m @ 4.67g/t Au (25TBRC112)
o 10m @ 1.95g/t Au from 71m including 1m @ 8.60g/t Au (25TBRC114) and
10m @ 0.58g/t Au from 119m (25TBRC114) and
4m @ 1.11g/t Au from 156m (25TBRC114)
o 3m @ 3.00g/t Au from 147m including 1m @ 5.02g/t Au (25TBRC133)
o 5m @ 1.58g/t Au from 92m including 1m @ 4.78g/t Au (25TBRC110)
o 6m @ 0.96g/t Au from 86m (25TBRC109)
o 5m @ 1.00g/t Au from 124m including 1m @ 2.92g/t Au (25TBRC113) (hole ends in
mineralisation)
o 3m @ 1.42g/t Au from 110m (25TBRC131)
• The current footprint of mineralisation at Rosapenna, 240m by 170m, is only limited by
drilling and remains open to the south, east and west. Pads are now being prepared for
additional drilling to the south of these results.
• These results from Rosapenna highlight the potential for new discovery within the Fairway shear zone. Fairway is a ~25km contact zone with a major regional structure that has had no drilling or ineffective, broad spaced reconnaissance RAB drilling from 1990’s and 2000’s.
• Fairway drilling remains ongoing, currently targeting the ~3km section between Turnberry and St Anne’s, including the southern extension of Rosapenna.
• Turnberry South: additionally, new high-grade results from Turnberry South include:
o 17m @ 2.94g/t Au from 77m including 2m @ 19.29g/t Au (25TBRC121)
o 3m @ 10.96g/t Au from 53m (25TBRC087)
o 15m @ 2.05g/t Au from 138m including 4m @ 4.38g/t Au (25TBRC120)
o 11m @ 0.80g/t Au from 91m including 4m @ 1.58g/t Au (25TBRC107)

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Meeka’s Managing Director Tim Davidson commented:

“The gold at Rosapenna highlights the broader growth opportunity available to us within a highly fertile but until now underexplored ~25km belt of Archean greenstones.

 

“We are now systematically drilling out this belt and these results support our thesis that there is a lot more gold to be found.”

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To read the full news release, please click HERE

——-

To view the latest Meeka share price and chart, please click HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Meeka Metals. 

.

To read our full terms and conditions, please click HERE

Capricorn / Ora Banda Mining

Both companies have been added to the S & P ASX 100 in the December Quarter rebalance.

This reflects the higher price of gold being reflected in their earnings and market cap.

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Capricorn and Ora Banda Mining have been added to the S & P ASX 100 at the December Quarter Index rebalance.

Both companies have been added to the S & P ASX 100 in the December Quarter rebalance.

This reflects the higher price of gold being reflected in their earnings and market cap.

To read the full news release please click HERE

——-

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in both companies. 

.

To read our full terms and conditions, please click HERE

Mining Review 7th December 2025

A long week of conferences in London as Mining Week 2025 closed on Friday.

I had a few good meetings and a few potential new investments to consider.

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City Investors Circle Mining Review 7th December 2025

A long week of conferences in London as Mining Week 2025 closed on Friday, after having three conferences in six days.

The week started with the Northern Miner Symposium (it sounds so much more sophisticated than conference does it not?) at the 121 venue at Houndsditch.

The event is a lot smaller than 121, and set on a different floor. There were around 20 companies exhibiting, so not a great deal of choice, and upon reviewing the list I was in two minds whether to attend at all.

I settled for arranging a few meetings after lunch on the final day, so I arrived just before lunch and then had a full afternoon.

Gunnison Copper enter the hall of infamy for keeping me waiting outside their booth whilst the previous meeting carried on. Meetings were only 15 minutes long, so after waiting for five minutes where I could clearly be seen, I left so as not to waste any more time. If they had a good meeting in progress, at least say so, I wouldn’t have minded.

——-

On the first day of Mines and Money I had a private investor annual lunch to attend, so my first experience was on day 2. Registration was easy, and no queues as it was the second day.

My impression is that it was smaller than last year. I had arranged a good number of meetings to comply with the five meeting free entry rule, although in all honesty there were few companies in the show that got my interest. I am selective these days, there’s no point in wasting everyone’s time if a company’s story doesn’t fit my investment criteria.

I had a few good meetings and a few potential new investments to consider, Dakota Gold being the standout for me.  It has an experienced successful CEO, Rob Quartermain, is located in a tier 1 jurisdiction, the USA, is a former producing gold mine steeped in history and production, is well funded and backed by institutions of the highest calibre.

I am reviewing the other companies I engaged with, and may add one or two to the watchlist. Dakota Gold is going on the Tier 3 watchlist as production is some three years away as it currently stands.

——-

A list of all the significant news releases from our watchlist companies last week is below, please click on the link to be taken to the full story. 

  Orla Mining Announced a Dividend and Quarterly Dividend Program

  Caprice Resources began Air Core Drilling at The Island Gold Project

  Mines and Money London 2025

  Orla Mining Discovered a High-Grade Oxide Gold at South Carlin

  Barton Gold Reported Broad, High-Grade Assays at ‘S1’ Pit Area

  Northern Miner London Symposium

  Market Review November 2025 Published

——-

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non-deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

.

Barton Gold (ASX: BGD)

Announced first assay results from recent drilling at its South Australian Tunkillia Gold Project.

These assays confirm broad new intervals of high-grade gold mineralisation which infill the central portion of Tunkillia’s S1 ‘Starter Pit’, emphasising the high-value nature of this zone.

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Photo courtesy of Barton Gold Ltd.

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Barton Gold Reports Broad, High-Grade Assays Infill Tunkillia ‘S1’ Pit Area

Results emphasise Tunkillia grade potential in key features

Barton Gold Holdings Limited (ASX:BGD, OTCQB:BGDFF, FRA:BGD3) (Barton or Company) is pleased to announce first assay results from recent drilling at its South Australian Tunkillia Gold Project (Tunkillia).

These assays confirm broad new intervals of high-grade gold mineralisation which infill the central portion of Tunkillia’s S1 ‘Starter Pit’, emphasising the high-value nature of this zone to Tunkillia’s development.Commenting on the new Tunkillia assay results,

.
HIGHLIGHTS

• New assays support higher-grade model for Tunkillia S1 ‘Starter Pit’ mineralisation; infill drilling targeting conversion to JORC (2012) ‘Measured’ category to underwrite financing.
• Tunkillia ‘S1’ pit modelled to produce $825m operating profit in first year of operations
from average grade of 1.19 g/t Au – new broad, high-grade assays from this zone include:
Hole ID Interval Including:
TKB0267 14m @ 2.78 g/t Au from 88 metres 3m @ 6.97 g/t Au from 98 metres
TKB0269 28m @ 2.60 g/t Au from 129 metres 2m @ 20.9 g/t Au from 144 metres
TKB0282 27m @ 2.68 g/t Au from 60 metres, and
44m @ 3.68 g/t Au from 103 metres
2m @ 38.7 g/t Au from 73 metres
3m @ 23.5 g/t Au from 123 metres
TKB0285 47m @ 2.67 g/t Au from 97 metres 16m @ 5.03 g/t Au from 126 metres
TKB0292 41m @ 2.21 g/t Au from 47 metres 7m @ 9.61 g/t Au from 47 metres
TKB0301 10m @ 7.37 g/t Au from 65 metres 1m @ 28.8 g/t Au from 67 metres
TKB0306 10m @ 5.03 g/t Au from 152 metres, and
13m @ 3.75 g/t Au from 165 metres
1m @ 43.2 g/t Au from 154 metres
1m @ 37.1 g/t Au from 165 metres

• Balance of assays from recent Tunkillia ‘Phase 1’ upgrade drilling expected during December 2025 and January 2026, with updated JORC (2012) Mineral Resource Estimate by March 2026

Barton Managing Director Alexander Scanlon said:

“Tunkillia’s S1 pit contains the project’s highest grade mineralisation, ideally located in a shallower, central zone.

 

“Modelling indicates that this will yield over 200,000 gold ounces, generating over $800 million in operating free cash and paying back Tunkillia’s entire development cost more than 2x over during the first year of operations.

 

“This early phase of upgrade drilling was therefore designed to further de-risk this profile by infilling higher grade mineralisation to underwrite project finance.

 

“These results very much appear to support that objective, and also highlight the potential for the Tunkillia system to host very high grades within key structural features.

 

“We expect the balance of Phase 1 infill drilling assays by January, and are targeting the conversion of Tunkillia’s ‘S1’ and ‘S2’ optimised open pit mineralisation to JORC ‘Measured’ and ‘Indicated’ categories by March 2026.”

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To read the full news release please click HERE

The live Barton Gold share price and chart can be found HERE 

..To View Barton Gold’s’ historical news, please click here

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Barton Gold.

.

To read our full terms and conditions, please click HERE

Northern Miner London Symposium

Took place at 133 Houndsditch for the second year in a row.

As London mining events go it was an intimate affair with around 20 mining companies present, as well as some illustrious visitors from the Canadian Mining Hall of Fame.

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Rick Rule 3rd from the right and Rob McEwan far right on the Symposium panel

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Northern Miner London Symposium November 2025

Took place at 133 Houndsditch for the second year in a row. This venue also hosts the 121 Mining Conferences. It’s a brisk walk from Aldgate station, and easy to find.

As London mining events go it was an intimate affair with around 20 mining companies present, as well as some illustrious visitors from the Canadian Mining Hall of Fame.

I only managed to find four companies of interest, and had good meetings with all of them.

I met Firefly for a catchup, and was impressed by the progress they are making at the Ming copper mine in Newfoundland. I don’t see an urgency to invest here yet, but it’s one that remans firmly on my watchlist.

My second meeting was with Firefly’s neighbour in Newfoundland, New Found Gold, a company that has has fallen from grace somewhat, with retail investors disappointed with the Mineral Resource Estimate. This has perhaps created an opportunity, I am going to review again before making a decision about investing.

I then met Brad O’Rourke of Scottie Resources, possibly the best presentation I saw all day. Scottie have moved forward and they plan to commence production in 2028, not too far away as we’re in 2026 in a months’ time.

What I like is the district scale of their project, with high-grade gold intercepts all over their project area.

My final meeting was with American Eagle Gold Corp. This looks a bit too early stage for my current focus, but I have added to my personal watchlist.

——-

So, in conclusion, the London Mining Symposium is a small mining conference with a handful of companies at the stage I prefer, with an interesting panel of experts, in a good venue. I plan to attend nest year.

.

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

To read our full terms and conditions, please click HERE

Market Review November 2025 Published

The City Investors Circle 135th Monthly Review has been published for November 2025.

The highlighted company is Endeavour Silver. Other companies mentioned include Orla Mining and Equinox Gold.

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City Investors Circle Market Review November 2025 Published

The City Investors Circle 135th Monthly Review has been published for November 2025.

The highlighted company is Endeavour Silver.

Other companies mentioned include Orla Mining and Equinox Gold.

The main topic is the nominal all-time high price of silver, and the root causes.

After a brief wobble of the gold and silver prices they have bounced back and producing miners remain around recent highs.

——-

To read the November 2025 Market Review, please click HERE.

To receive future issues of the Market Review and invitations to our free to attend mining presentations, please email andrew@city-investors-circle.com

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——-

Archive of November’s news releases is listed below, click the link to be taken to the full story.

  Silver Price Hits An All-Time High

  West Red Lake Gold Mines Drills at Fork

  Kaiser Reef to Commence Union Hill Waste Dump Drilling

  Barton Gold Tunkillia Upgrade Drilling Completed

  Heliostar Drills 83.2m Grading 17.35 g/t Gold from 76m

  Horizon Minerals Gold Mining Update

  Mining Review 23rd November 2025

  Mining Conference Week 1 Reviewed

  Swiss Mining Conference

  121 Mining Conference London

  Colonial Coal Continues Talks With Interested Parties

  Pacgold White Lion Drilling Intersects Gold Mineralisation

  Orla Mining Generates $93 Million FCF in Q3

  Omai Gold Drills 20.33 g/t Au over 5.3m and 2.72 g/t Au

  Mining Review 16th November 2025

  G Mining Ventures Reports Strong Q3 2025 Results

  Catalyst Settles Legal Case For The Tandarra Gold Project

  Lefroy to Commence Lucky Strike Gold Production

  Capricorn Grows Mt Gibson Underground Resource

  Meeka Metals Reports 8m @ 14.8g/t Au at Turnberry South

  Pacgold launches restart of White Dam Gold Mine

  Mining Review 8th November 2025

  West Red Lake Gold Confirms High-Grade Gold in Lower Austin

  Equinox Gold Delivers Record Q3 Production and Revenue

  Wesdome Intersects New Zone at Kiena’s Dubuisson Deposit

  Horizon Minerals Notice Of Share Consolidation

  Omai Gold Drills 20.33 g/t Au over 5.3m at Wenot

  Western Gold Grade Control Supports Mine Decision

  New Murchison Gold Complete Strong Production Ramp Up

  Mining Review 2nd November 2025

  Market Review September 2025

.

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author may hold shares in some or all of the companies mentioned

.

Mining Review 23rd November 2025

A week dominated by the first mining conferences of the season in London and Zurich.

Mining stocks took a hammering, but I met a few new companies I like the look of and merit further research.

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Swiss Mining Conference – Zurich 2025

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City Investors Circle Mining Review 23rd November 2025

Mining Review 23rd November 2025

A week dominated by the first mining conferences of the season in London and Zurich.

Mining stocks took a hammering, but I met a few new companies I like the look of and I feel merit further research.

——-

The 121 Mining Conference in London seemed well attended but it’s always hard to gauge because most booths have two company representatives, making estimating  the number of investors present difficult to assess.

I personally didn’t think it was so vibrant, but that’s probably because of the falling mining stock prices affecting my mood.

I had some interesting meetings though and am currently deciding whether to invest in any of the companies I met.

——-

I then met 55 North at a private luncheon presentation. This company is run by an experienced and successful mining CEO, Bruce Reid if Carlisle fame.

I like this story a lot and have decided to make an initial investment.

——-

The Zurich Mining Show was the largest to far, and filled the room. What I like about this show is that, unlike the PDAC, you can meet the company CEOs on their stand, rather than a university student filling in for a pittance.

All the companies at the show have substance, it’s not cheap to participate here, so early stage explorers in moose pasture are nowhere to be seen.

This makes for a good show and I had numerous meetings with solid companies. As a result I am reviewing three potential investments in new companies that look to have my key criteria, Tier 1 jurisdiction, strong management, funded to near term production in a project with scale.

Once I have reviewed the companies I will add any I think deserve inclusion into the watchlists.

——-

A list of all the significant news releases from our watchlist companies last week is below, please click on the link to be taken to the full story. 

  Swiss Mining Conference

  121 Mining Conference London

  Colonial Coal Continues Talks With Interested Parties

  Pacgold White Lion Drilling Intersected Gold Mineralisation

  Orla Mining Generated $93 Million FCF in Q3

  Omai Gold Drilled 20.33 g/t Au over 5.3m and 2.72 g/t Au

  Mining Review 16th November 2025

——-

.

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non-deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

.

Swiss Mining Conference

Another day another mining conference, this one in Zurich, one of my favourites on the circuit.

I spoke with a CEO today whose company looks set to enter production late 2026, and feel it’s time to make an investment.

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Swiss Mining Conference

Another day another mining conference, this one in Zurich, one of my favourites on the circuit.

I spoke with a CEO today whose company looks set to enter production late 2026, and feel it’s time to make an investment. That CEO is Alan Carter of Cabral Gold.

Alan is British, has invested a large amount of his personal money into Cabral, supporting the company when rising finance was really tough, and the company are now preparing for trial production commencing at the end of next year.

Cabral has arranged a gold swap, with a rate of 10% interest, to finance the building of the plant. This is a novel approach and sets Cabral apart from the crowd. One wonders whether this may be emulated by other miners in the future?

So, Cabral plan a new Mineral Resource Estimate during mid 2026, and then to enter trial production by year end. For me this is the sweet spot, as the company climbs the final hill on the Lassonde curve towards production and cashflow.

The amount of gold permitted to be mined under a Brazilian trial production licence is quite generous, and will allow Cabral to generate some meaningful cash, plus expand its exploration projects, which will ensure plenty of newsflow and no stock dilution moving forwards.

Cabral’s project is only 12 miles from G Mining Ventures’ newly opened producing TZ mine, and they look an obvious predator at some point, given the close proximity.

I am planning to personally invest in Cabral in the near future.

——-

Equinox Gold is a company I have not met for some time, so I was pleased to catchup with its IR guy today for the first time since the acquisition of Calibre mining to produce a solid mid-tier gold mining company with producing mines in five countries.

Equinox are running two large gold mines in Canada that are both starting up, with Valentine now up to commercial production, and Greenstone nearly there, but with a few teething troubles.

They are both throwing off cash, as are the former Calibre producing mines in Nicaragua.

The company has around $1.2 – $1.4 billion in debt, and the primary objective is to reduce that as fast as possible. The Pan gold mine in Nevada has been sold to Minera Alamos for around $115 million as a starter, and I feel the Nicaraguan mines may be next.

If the gold price remains at current levels, I feel the bulk of the debt will be gone by this time next year.

——-

One other mining company I met today that has a project I like is Cerro de Pasco Resources, with a polymetallic tailings project in Peru.

I like tailings projects because the hard work has already been done, the ore is sitting at surface so doesn’t have to be mined, reducing both costs and time.

The tailings in question are high-grade, and contain galium, a critical metal used to make microchips, and one on the USA’s critical list.

Still a bit early stage , but the forthcoming catalysts are the acquisition of the remaining tailings, with a high copper content, and the acquisition of the Vulcan owned mining plant close by.

Mining is critical to the town of Cerro de Pasco, high up in the Andes with no other large employer, and was built to provide labour for the mine.

This is a story I will follow closely for now.

——-

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email  andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

Disclosure

I may own some of the shares mentioned in this report.

.