Mining News Flash with Miata Metals, Millennial Potash, Fury Gold Mines and Osisko Development

Key Concepts

• Miata Metals: Exploration company focused on the SA Creek project in Suganam.
• Millennial Pesh: Developing the Banual Page potash project in Gabon, currently undergoing ESIA.
• Fury Gold Mines: Expanding the Sakami Gold project with promising results at the La Point extension.
• Oisco Development: Aggressive exploration program at the Caribou Gold project and Pro Pine Mountain.
• ESIA (Environmental and Social Impact Assessment): A crucial step in mining project development, ensuring environmental and social responsibility.
• Inferred, Measured & Indicated Resources: Categories of mineral resource estimation based on geological confidence.
• Probable Reserves: Economically mineable mineral resources.
• g/t (grams per ton): A unit of concentration used to measure gold and other metal content in ore.

Market Overview & Precious Metal Outlook

The program begins with a positive outlook on precious metals, specifically gold trading above $4,400 and silver approaching $67. The expectation is for significantly higher prices in 2026 and beyond. The addition of potash to the market dynamic, with potential tariffs on Canadian potash initiated by President Trump, is noted as an exciting development.

Miata Metals – Funding & Exploration

Miata Metals successfully completed a private placement, raising $11.5 million Canadian dollars through the issuance of approximately 24 million common shares at $0.48 CAD per share, including the overallotment option. This funding will accelerate exploration activities at the SA Creek project in Suganam and cover operational costs.

Millennial Pesh – Advancing the Banual Page Potash Project

Millennial Pesh is progressing towards production with the commencement of the Environmental and Social Impact Assessment (ESIA) for its Banual Page potash project in Gabon. The ESIA is being conducted by a consortium led by Artalia Socon Simplifier, including Biotope AIL and Inzuko Gabon, leveraging their extensive experience in large-scale African mining projects. The ESIA will adhere to IFC performance standards and will be incorporated into the mining license application, expected next year. A bankable feasibility study is also planned to commence shortly, fully financed. The company maintains a conservative price target of $6-$7 CAD, with expectations for higher growth.

Quote: “Millennia Pesh is and remains one of our favorites and we have a price target of 6 to7 Canadian dollars for the stock conservatively but we think it will be much higher.”

ESIA (Environmental and Social Impact Assessment): A systematic process to evaluate the potential environmental and social consequences of a proposed project, ensuring sustainable development.

Fury Gold Mines – La Point Extension Resource Estimate

Fury Gold Mines announced an initial inferred mineral resource estimate for the La Point extension target area within the Sakami Gold project. The estimate indicates 23.9 million tons grading 1.07 g/t gold, containing 825,000 ounces of gold, all within 400 meters of the surface. The resource is open in all directions, presenting significant expansion potential to the northeast, southwest, and below the current open pit extension (limited to 175m drilling depth). An initial exploration target estimates between 8.1 and 14.7 million tons grading 1.11-1.57 g/t gold.

Key Statistic: Discovery costs are less than $9 CAD per ounce, including acquisition costs and drilling expenses.

The stock is projected to have further upside potential, reaching $1.50 - $2.00 CAD.

Oisco Development – Extensive Drilling Program at Caribou Gold Project

Oisco Development has initiated a fully funded 70,000-meter exploration drilling program at the Caribou Gold project, utilizing two drill rigs initially, with plans to increase to six by the end of 2026.

Drilling Focus:

• Caribou Deep (10,000m, ~11 holes): Targeting depths below the existing deposit within the approved mine plan boundaries.
• Pro Pine Mountain (20,000m, >30 holes): A high-priority regional target southeast of the Caribou deposit, with potential for open-pit mining.
• Barkable Mountain: Further targets will be defined based on exploration success.

Current Resource Base (CGP):

• Probable Reserves: 2.07 million ounces of gold (17.8 million tons at 3.62 g/t gold).
• Measured & Indicated Resources: 1.61 million ounces of gold (17.4 million tons at 2.88 g/t gold).
• Inferred Resources: Over 1.86 million ounces.

Oisco Development is showing strong recovery and has an initial price target of $12-$13 CAD.

Quote: “Oiscoco development has broken away from its low prices and we see an initial price target in the range of 12 to 13 Canadian dollars.”

Disclaimer & Accessibility

The program concludes with a disclaimer stating that the discussed stocks are part of the SRC mining special situation certificate, and SRC employees, including the presenter, may hold shares in these companies. Information is also available on the Commodity TV app in German and English.

Synthesis & Conclusion

The program highlights a bullish outlook for precious metals and showcases the progress of several mining companies. Miata Metals is well-funded for exploration, Millennial Pesh is advancing a significant potash project, Fury Gold Mines is expanding its gold resources, and Oisco Development is undertaking a large-scale drilling program. The companies discussed demonstrate varying stages of development, from early-stage exploration to projects nearing production, offering diverse investment opportunities within the mining sector. The emphasis on responsible development, as evidenced by Millennial Pesh’s ESIA, underscores the growing importance of sustainability in the industry.