Kitco MINING

McEwen Copper Vice President and General Manager Michael Meding joins Kitco Mining at the NBF CEO Mining Conference in London to discuss the new feasibility study for the Los Azules copper project in San Juan, Argentina. Meding says the country’s new RIGI fiscal regime “recovers lost trust in Argentina” by restoring clear, long-term legal and tax stability. The study outlines annual production of 148,000 tons of copper cathode over 21 years, with the potential to extend the operation beyond 50 years as new technologies are applied.

Meding says financing momentum is strong, with export credit agencies and development banks showing early interest. McEwen Copper has already received about $1.1 billion in letters of interest, even before releasing the feasibility study, and he highlights unprecedented support from the U.S. government for Argentina’s economic reset. Early construction could begin in late 2026, with full buildout through 2029 and targeted first production in 2030, while the company also evaluates the best timing and venue for a potential IPO.

In this interview, Michael Meding also discusses:
• Why RIGI improves Argentina’s competitiveness
• Multi-decade expansion potential at Los Azules
• U.S. government support for investment in Argentina
• Why San Juan is considered like “Nevada to the U.S.”

Don’t forget to subscribe to Kitco Mining for full coverage of the NBF CEO Mining Conference in London.

 Special thanks to our sponsor, Agnico Eagle, for making this coverage possible. Visit https://agnicoeagle.com/ to learn more.

https://youtu.be/1ZY-5ac8bso?si=mNPqDbEPP4L4LVm8

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

AbraSilver Resource Corp. (TSXV: ABRA; OTCQX: ABBRF) CEO John Miniotis says the Diablillos silver gold project is entering its strongest development window yet as Argentina’s new RGI regime reshapes project economics. Speaking with Kitco Mining at the NBF CEO Mining Conference in London, Miniotis says, “RGI has been an absolute game changer for Argentina as a whole, and specifically for our project.” Based on current metal prices, the tax and export duty changes alone represent more than one billion dollars in value uplift.

AbraSilver expects EIA approval, RGI approval, and a full feasibility study by the end of Q1 2026. The project is anchored by a 350 million ounce silver equivalent resource, ongoing high-grade drilling, and a balance sheet holding 65 million dollars in cash with no debt. Miniotis says the company will review multiple financing options ahead of a final investment decision targeted for late Q3 2026, with early works construction already funded.

Key themes shaping AbraSilver’s next development phase include:
 • Diablillos’ potential to become one of the world’s largest primary silver mines
 • Feasibility study delivery targeted for Q1 2026
 • Financing paths for a roughly 540 million dollar build
 • High-grade gold and silver results across multiple zones
 • Expansion scenarios up to 18,000 tons per day
 • Catalysts leading to a construction decision next year

Don’t forget to subscribe to Kitco Mining for full coverage of the NBF CEO Mining Conference in London.

 Special thanks to our sponsor, Agnico Eagle, for making this coverage possible. Visit https://agnicoeagle.com/ to learn more.

https://youtu.be/_H33j3TzYGs?si=0iAArSQMJJrPAhOO

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

Artemis Gold (TSXV: ARTG; OTCQX: ARGTF) Executive Chair Steven Dean says Blackwater is generating exceptional margins as the company accelerates its next stages of growth. Speaking with Kitco Mining at the NBF CEO Mining Conference in London, Dean says “we’re in a very fortunate position to have significant organic growth,” noting all-in sustaining costs of about $840 per ounce and a margin of more than $3,000 per ounce at current gold prices. Blackwater achieved commercial production earlier this year and is already operating above its 6 million tonne nameplate capacity.

Dean outlines how the phase 1A expansion to 8 million tonnes per year is underway, with a major phase 2 build expected to start in Q2 2026 and take throughput north of 20 million tonnes per year over a two-year construction window. He discusses funding this largely from cash flow, supported by a C$700 million revolving credit facility, while maintaining life-of-mine AISC below $1,000 per ounce and targeting production well above 500,000 ounces per year.

In this interview, Dean also discusses:
 • Blackwater’s rapid ramp-up, margin profile and capital allocation priorities
 • How the 6 Mtpa plant is being expanded to 8 Mtpa (phase 1A) and then to 20+ Mtpa under phase 2
 • Funding options for a $1 billion-plus expansion and the role of the new C$700 million revolver
 • Exploration plans on Artemis’ 1,500 square kilometre land package around Blackwater
 • How strong cash balances, perceived undervaluation and about 38% insider ownership shape Artemis’ M&A options

Don’t forget to subscribe to Kitco Mining for full coverage of the NBF CEO Mining Conference in London.

Special thanks to our sponsor, Agnico Eagle, for making this coverage possible. Visit https://agnicoeagle.com/ to learn more.

https://youtu.be/udL00GrTKtQ?si=ye1orTLgfMMVH2O9

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

Aris Mining (TSX: ARIS; NYSE American: ARMN) CEO Neil Woodyer joins Kitco Mining at the 2025 NBF CEO Mining Conference in London to break down a pivotal month for the company, including the landmark settlement of its long-running international arbitration with the government of Colombia. As Woodyer explains, “It now has a very clear legal obligation spelled out in many pages and many subpages,” marking the first time Colombia has reached a commercial resolution of this kind with a mining company.

Woodyer also discusses acquiring the remaining 49 percent of the Soto Norte project, strengthening government relationships, and the redesigned development plan, now moving toward EIA submission. He outlines how Aris’s integrated small-miner model, strong cash flow from Segovia, the ongoing expansion at Marmato, and progress at Toroparu position the company on a pathway toward long-term growth and multi-asset production scale.

Don’t forget to subscribe to the Kitco Mining and Kitco News YouTube channels to stay up to date on the latest industry news and interviews.

Special thanks to our sponsor, Agnico Eagle, for making this coverage possible. Visit https://agnicoeagle.com/ to learn more.

https://youtu.be/z-ejCf0ms3U?si=5O3QCPG7MFc4wEW8

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

New Gold (TSX: NGD; NYSE American: NGD) CEO Patrick Godin joins Kitco Mining at the 2025 NBC Capital Markets CEO Mining Conference in London to break down a year defined by a full operational turnaround and a proposed merger with Coeur Mining. New Gold delivered one of the strongest quarters in the sector, producing more than 115,000 ounces of gold and 12 million pounds of copper while cutting all-in sustaining costs to $966 per ounce, enabling over $200 million in free cash flow. As Godin explains, “We mine the plan exactly as expected, and the results are there,” with Rainy River alone producing 100,000 ounces in the quarter.

Godin details why New Gold chose to combine with Coeur, pointing to deeper project optionality, longer mine lives, and more stable long-term capital allocation across seven North American operations. He also highlights the shared safety culture, stronger copper-gold-silver exposure and the company’s focus on retaining its agile technical and operational teams. With mine life visibility into 2031–2033 and growing momentum at both Rainy River and New Afton, New Gold sees the transaction as a platform for increased scale and sustained value creation.

Don’t forget to subscribe to the Kitco Mining and Kitco News YouTube channels to stay up to date on the latest industry news and interviews.

Special thanks to our sponsor, Agnico Eagle, for making this coverage possible. Visit https://agnicoeagle.com/ to learn more.

https://youtu.be/j3BJkC5-7gQ?si=nwWkJVamXBf6Svu4

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

Kinross Gold (TSX: K; NYSE: KGC) CEO Paul Rollinson joins Kitco Mining at the NBF CEO Mining Conference in London to discuss another solid year for the company. Kinross reported 500,000 ounces of gold equivalent in Q3, lifting its cash position above US$1.7 billion, delivering almost US$700 million in free cash flow, and becoming net cash on the balance sheet. The company increased its dividend by 17 percent, expanded its buyback program by US$100 million, and announced the redemption of US$500 million of 2027 notes. As Rollinson puts it, “for us it's all about meeting our guidance, and we've got a long track record of doing what we say we do.”

Rollinson also outlines the company’s long-standing capital allocation framework and says stronger gold prices are unlocking more optionality across Kinross’ portfolio, supported by 22 million ounces of proven and probable reserves, 26 million ounces of measured and indicated resources, and 13 million ounces inferred. He highlights upcoming catalysts, including the Phase X study at Round Mountain, updates at Bald Mountain and Red Bird, and continued permitting progress at Great Bear. In Chile, Kinross’ water strategy underpins the planned transition from La Coipa to the higher-grade Lobo project.

For more interviews and insights from the NBF CEO Mining Conference in London, make sure to subscribe to Kitco Mining.

Special thanks to our sponsor, Agnico Eagle, for making this coverage possible. Visit https://agnicoeagle.com/ to learn more.

https://youtu.be/f_Eq9D8T8D0?si=pidUugdxHUob9A-E

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

Solaris Resources (TSX: SLS; NYSE American: SLS) President and CEO Matthew Rowlinson joins Kitco Mining at the 2025 NBF CEO Mining Conference in London to discuss the new pre-feasibility study and maiden reserve for the Warintza Project in Ecuador. The study outlines 240,000 tons per year of copper equivalent for the first 15 years, a $1.07 per pound C1 cash cost, an NPV of $4.6 billion, a 26 percent IRR, and $3.7 billion in initial capital. Rowlinson calls Warintza a “multi-generational asset” with 5.8 billion tons of resource, a 50-year mine life, and tier one, quartile one cost positioning supported by a 0.53:1 strip ratio, near-surface mineralisation, and strong Ecuadorian infrastructure.

Rowlinson explains that Warintza will be permitted in two stages, starting with a 22-year reserve life linked to the initial tailings facility. Additional tailings locations have already been identified to support the full 5.8 billion ton resource and extend mine life by roughly 30 years. Solaris aims to be fully permitted by the end of 2026, complete a feasibility study in early 2027, and move into a three-year build toward production. He adds that the PFS “opens a corridor” for strategic interest, and while Solaris is advancing its own development plan, the company remains open to discussions that maximise shareholder value.

For more interviews and insights from the NBF CEO Mining Conference in London, make sure to subscribe to Kitco Mining.

Special thanks to our sponsor, Agnico Eagle, for making this coverage possible. Visit https://agnicoeagle.com/ to learn more.

https://youtu.be/7fb0jZ0Jwxk?si=ZPUCjEu-7AKfKRyF

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

Aya Gold and Silver (TSX: AYA) CEO Benoit La Salle joins Kitco Mining’s Investment Trends to discuss the company’s record performance and expanding footprint in Morocco. The company remains the only pure silver producer in the sector, anchored by the Zgounder mine, where a new 2,700 tonne per day plant has lifted total capacity to about 3,700 tonnes per day. The ramp-up helped deliver strong third-quarter results and rising margins as production scales.

La Salle says silver’s rally is transforming profitability, “our lowest selling price right now in Q4 is $51,” which emphasizes margins above $30 per ounce and strong cash generation. He added that “The sector is extremely profitable,” as Aya targets roughly 6 million ounces of silver in 2025 and continues to strengthen its balance sheet.

Looking ahead, the fully permitted Boumadine project is set to reshape the company’s profile. The planned 8,000 tonne per day operation is expected to produce more than 30 million ounces of silver equivalent annually, supported by EBRD financing and strong demand for concentrates. La Salle sees a clear path toward construction as updated studies and a major drill program advance through 2026.

Don’t forget to subscribe to the Kitco Mining and Kitco News YouTube channels to stay up to date on the latest industry news and interviews.

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

Lundin Gold (TSX: LUG) President and CEO Jamie Beck joins Kitco Mining at the 2025 NBF CEO Mining Conference in London to discuss his transition into the role and the next phase of growth at the high-grade Fruta del Norte mine in Ecuador. With $4,000 gold, strong free cash flow, and a debt-free balance sheet, the company continues to return capital through a fixed $300 million dividend and a variable dividend set at a minimum of 50 percent of free cash flow. Beck says joining a “really high-functioning team” has been a privilege.

He outlines an expanded exploration push in 2026 following 108,000 meters drilled this year, including a recent hit of five meters of almost 500 grams per ton and promising copper-gold intercepts near the mine. Beck says this work could reveal a broader porphyry district and help extend Fruta del Norte’s already strong mine life.

In this interview, Beck also discusses:
• Lundin Gold’s dividend strategy and potential 4.5–5% yield
• High-grade conversion drilling and mine life extension
• Near-mine porphyry potential, including 200m of 0.75% Cu + 0.18 g/t Au
• Ecuador’s new exploration tax and sector impacts
• Why community relationships reduce jurisdiction pressure
• The team’s approach to M&A amid rising global dealmaking

For more interviews and insights from the NBF CEO Mining Conference in London, make sure to subscribe to Kitco Mining.

Special thanks to our sponsor, Agnico Eagle, for making this coverage possible. Visit https://agnicoeagle.com/ to learn more.

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.

Discovery Silver (TSX: DSV; OTCQX: DSVSF) President & CEO Tony Makuch joins Kitco Mining at the 2025 NBC Capital Markets CEO Mining Conference to break down Discovery’s dramatic transformation. The acquisition of Newmont’s Porcupine complex has turned the company from a silver developer into a cash-flowing, Ontario-based gold producer with major growth potential. Makuch says the deal “unlocks a lot of potential,” describing Porcupine as a platform for long-term growth.

Makuch confirms the company generated free cash flow in both Q2 and Q3 and outlines a multiyear plan to double production at Porcupine. Work continues in parallel at Cordero in Mexico, where technical studies and permitting remain on track. “We’re not sitting on our hands,” he says, stressing that Discovery is prioritizing growth over dividends or buybacks while the company builds toward its full potential.

In this interview, Tony Makuch also discusses:
 • How Discovery plans to double Porcupine production and expand mill capacity
 • The four-pillar value model: operations, reinvestment, new mines, exploration
 • Dome and TVZ as major catalysts within a 15-million-ounce resource base
 • Progress on Cordero permitting and updated engineering work
 • Financing options for Cordero and long-term capital strategy
 • Positioning the company for growth in a $4,000 gold, $50 silver environment

Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels for more coverage from the 2025 NBC Capital Markets CEO Mining Conference.

Special thanks to our sponsor, Agnico Eagle, for making this coverage possible. Visit https://agnicoeagle.com/ to learn more.

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.