Kairos Receives $10M, Mt York Cash Hits $35M

Key Concepts

• Mount York Gold Project: The primary focus of the company’s development efforts, aiming for a Final Investment Decision (FID).
• Pre-Feasibility Study (PFS): An engineering and economic study to assess the viability of the Mount York project.
• Resource Estimation: The process of quantifying the amount of gold present in a deposit, currently at 1.4 million ounces.
• Native Title Mining Agreement (NAML): An agreement with native title holders, crucial for project development and derisking.
• Drilling Program: Extensive exploration drilling (27,000m completed) to increase resource estimates.
• PLS Funding: A $20 million deal (with $10 million received recently) to finance project development without shareholder dilution.
• Trek Medals Pinkuna Project: A newly acquired adjacent project with promising drill results.
• Mineralization: The occurrence of valuable minerals (gold in this case) within a rock formation, extending 4.2 km at Mount York.

Financial Position & Funding

The company recently received $10 million from PLS, completing a $20 million deal. This funding, while not drastically altering the existing financial position (with $25 million already held in the bank), significantly strengthens the company’s ability to advance the Mount York gold project towards a Final Investment Decision (FID). A key benefit of this funding is that it was secured without diluting existing shareholders. The company emphasizes the project’s potential profitability even at lower gold prices, and the funding facilitates the development of a strategy to demonstrate this robustness to the market.

Exploration & Resource Growth

In 2025, the company undertook its largest drilling program to date, completing approximately 27,000 meters of drilling – slightly less than the planned 30,000 meters. This drilling was conducted with a strong emphasis on safety. The data collected will be used to generate a new resource estimation for the Mount York project. Currently, the project holds an estimated 1.4 million ounces of gold, and previous drilling campaigns have consistently increased this figure. The company anticipates a positive outcome from the new resource estimation, expected in the first half of the year, based on the quality of the recent drill results.

Project Derisking & Approvals

Significant progress has been made in derisking the Mount York project. The Native Title Mining Agreement (NAML) has been signed, securing crucial support for development. Furthermore, the mining lease was awarded in early January, providing a clear pathway forward for project development. These approvals demonstrate a commitment to moving the project towards production. The NAML agreement is defined as an agreement with the people who hold native title rights to the land, and is essential for legally developing the project.

Expansion & Future Development

The company has expanded its land holdings with the acquisition of the Trek Medals Pinkuna project, which is adjacent to the Mount York project. This acquisition is based on encouraging drill results from Pinkuna, and drilling is planned for this project in 2026. Alongside this, further drilling is planned along the 4.2 kilometers of mineralization identified at Mount York.

The Pre-Feasibility Study (PFS) has been initiated and the company aims to complete it by the end of 2026. The PFS will evaluate mining options and provide the board with the information needed to consider development options for 2027 and beyond. The PFS will look at the “optionality for mining the project”, meaning different ways to extract the gold.

2026 Outlook

2026 is projected to be another exceptionally busy year. The company will focus on extensive drilling at both Mount York and the newly acquired Pinkuna project, alongside the completion of the PFS. This multifaceted approach aims to maximize the project’s potential and prepare it for development.

Quote: “We have derisked financially derisked this project moving forward. We know it's a project that can make a lot of money at a much lower gold price than today.” – Company Representative.