Kitco MINING

West Point Gold (TSXV: WPG; OTCQB: WPGCF) CEO Quentin Mai says the company’s latest drill results confirm the scale and grade potential of its Gold Chain Project in Arizona’s Walker Lane trend. Speaking with Kitco Mining’s Investment Trends, Mai said the team believes it is chasing “a world-class deposit,” citing an October intercept of 32 meters grading 3.17 g/t gold, part of a structure that has returned up to 9 meters of 51 g/t gold.

He said the Tyro Main Zone is just the start of a 15-kilometer mineralized system, which his team calls the “obvious target” within a broader district-scale play. Early metallurgy confirms oxide mineralization from surface, suggesting the deposit could be amenable to heap leaching, a key economic advantage in Arizona.

Backed by an $8 million financing led by VanEck, West Point is drilling the Tyro Main and South zones as part of a 10,000-meter program aimed at defining a maiden resource early next year. “We’re applying the same playbook that built Corvus, but in one of the best jurisdictions in North America,” Mai said.

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.

Americas Gold and Silver Corporation (TSX: USA; NYSE American: USAS) CEO Paul Huet speaks with Kitco Mining’s Paul Harris about the transformation of the Galena Mine in Idaho and the company’s return to growth across its U.S. and Mexico operations.

Huet says his first goal was to rebuild the foundations for success. “If we want to turn that around, we've got to fix the mine. In order to do that, we need to change the board, change the executive team, change the corporate structure, and the shareholders, and that’s what we did.”

With major shareholder Eric Sprott converting his 40% ownership in Galena into company shares, Huet and his team invested heavily alongside him. “I put 70% of our net worth into this, and I’m very happy we did because so far it’s been very good and there’s a lot of room from here,” he said.

The company has raised $160 million, grown from under $100 million to about $1.4 billion in market value, and restarted exploration for the first time in decades. “There was no exploration at all. Zero exploration dollars.”

Looking ahead, Huet says 2026 will be a pivotal year as the company issues its first production guidance and targets output growth from 1.5 million to 5 million ounces of silver per year. The company also expects stronger revenue as it begins receiving payments for gold, copper, and antimony. “We’re the only mine producing raw antimony in the U.S.”

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 Found Gold (TSXV: NFG; NYSE-A: NFGC) is advancing its high-grade Queensway project in Newfoundland at a time when gold is trading near $3,900 an ounce. Speaking with Kitco Mining’s Investment Trends, CEO Keith Boyle highlighted the project’s strong leverage to price. “At $2,500, our internal rate of return would be 56% and our NPV over $700 million. But at $3,300, we ran the numbers and got to 197% IRR and $1.4 billion in NPV,” he said.

Boyle emphasized a staged mine plan requiring just $155 million upfront, with the recent Maritime Resources acquisition expected to provide cash flow and reduce financing risk. “If you start small, your overage is much smaller and much more manageable,” he noted.

Institutional support has expanded, with a $63 million raise in June lifting ownership to 14% alongside backing from Eric Sprott. Permitting is targeted for 2026, with Boyle noting Newfoundland’s cooperative stance: “They want five mines by 2030, we will be one of them.”

With a 110-kilometer land package, recent surface samples grading 64.8 g/t gold, and M&A optionality, Boyle says Queensway could form the core of a new mining district.

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.

Coeur Mining (NYSE: CDE) President and CEO Mitch Krebs says years of heavy investment are now paying off as higher metals prices converge with the company’s acquisition of SilverCrest and its Las Chispas mine in Mexico. Speaking to Kitco Mining at Mining Forum Americas 2025, he said, “It’s just really rewarding to see and to see people high-fiving and backslapping and congratulating and getting some wins after what’s been a tough few years.”

Krebs noted silver has moved above $42 per ounce on the back of stronger supply-demand fundamentals and renewed investor interest. “Now we finally have both, and I think that’s what’s really kind of at a basic level, what’s propelling silver,” he said, pointing to five consecutive years of market deficits and expanding industrial demand from electrification and data centers.

Coeur’s turnaround is reflected in its financials. EBITDA is set to jump from $142 million in 2023 to more than $900 million in 2025, while free cash flow swings from negative $300 million to over $500 million. The company expects to be net cash positive by year-end.

Key catalysts include the full contribution of Las Chispas, the ramp-up of the $730 million Rochester expansion in Nevada, and stronger output from Kensington in Alaska. Krebs said these drivers position Coeur for another year of organic growth in 2026.

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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) is leaning into a full turnaround. Q2 production reached 96,000 ounces of gold equivalent at an all-in sustaining cost of US$1,400 per ounce. The share price is up approximately 125% year over year, and the market value is around US$5 billion. Speaking at Mining Forum Americas in Colorado Springs, CEO Patrick Godin kept the message simple: “What we can control is the execution of our plan and to deliver our guidance.” He says projects remain on time and on budget, with New Afton’s copper uplift adding meaningful leverage.

Rainy River is set up to maintain full mill capacity through 2030 via pit pushbacks, work on the Northwest Trend, and underground mining. Management expects roughly 130,000 additional ounces over that period. They also plan a larger exploration program across a largely underexplored Rainy River land package, noting the main pit could serve as future tailings storage if a discovery is developed.

At New Afton in British Columbia, the K-Zone discovery anchors a mine life push well past 2040. Godin flagged the next steps “to deliver indicated resources for K-Zone at the beginning of next year,” followed by a feasibility study starting next year and a reserves target in 2027. New Gold also completed the last Ontario Teachers’ transaction at New Afton in May, simplifying ownership as K-Zone advances.

Balance sheet priorities include repaying the revolver by year-end and using rising free cash flow to fund exploration and advance Key Zone while remaining selective on external growth. If attractive projects are not available, buybacks or dividends remain on the table.

Don’t forget to subscribe to Kitco Mining for more coverage from the 2025 Mining Forum Americas

Special thanks to our sponsor, Metalla Royalty & Streaming Ltd, for making this coverage possible
 👉 To learn more, visit https://metallaroyalty.com

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.

Alamos Gold (TSX: AGI; NYSE: AGI) President and CEO John McCluskey speaks with Kitco Mining at the Mining Forum Americas 2025 after announcing the sale of the company’s Turkish development projects for US$470 million in cash. The deal includes bank-guaranteed installments of US$160 million at close, followed by payments on the first and second anniversaries, and is expected to end Alamos’ BIT claim. “With that first payment, we’ll essentially put it against our US$250 million debt. We’ll reduce debt down to less than $100 million,” McCluskey says.

In Q2, Alamos produced 137,000 ounces at just under US$1,500 per ounce AISC, generating margins above 50%. Growth is led by the Island Gold–Magino complex, where integration shifts ore to a 10,000 tpd mill with phased expansion. The Island shaft project supports higher underground throughput, and McCluskey notes: “On a combined basis, we see that mine going to something like 550,000 ounces of annualized production at around $1000 all in sustaining cost.” Longer term, Island Gold is permitted for up to 35,000 tpd, underscoring significant scalability.

At Mulatos in Mexico, the PDA underground and a new mill are advancing with an investment of around US$125 million, targeting initial output around 140,000 ounces as open-pit production at La Yaqui Grande runs through 2027. Exploration continues to be a major growth driver, with a US$72 million budget this year and 8 million ounces already added through drilling at a discovery cost of just US$30 per ounce.

Stay tuned to Kitco Mining for more coverage from Mining Forum Americas 2025.

Special thanks to our sponsor, Metalla Royalty & Streaming Ltd, for making this coverage possible
 👉 To learn more, visit https://metallaroyalty.com

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.

Orla Mining (TSX: OLA; NYSE: ORLA) President and CEO Jason Simpson said the company is stronger than ever after its latest acquisition of the Musselwhite mine from Newmont. Q2 production jumped 134% year over year, the share price is up 170%, and market capitalization is approaching US$4 billion.

“We've achieved exactly what we set out to do,” Simpson told Kitco at the Mining Forum Americas conference, adding, “the objective was to get a gold company set up for just this period in the market. We are set up, and the company has never been stronger.” He pointed to Musselwhite’s potential to produce more than 300,000 ounces annually, as well as the foundational Camino Rojo asset in Mexico and the next growth phase at South Railroad in Nevada.

At Camino Rojo, a pit wall event in August has been resolved, and Simpson emphasized the longer-term opportunity: “We know that as we outlined in our resource that we have 4 million ounces there, and we'd like to start taking steps as early as next year of driving a drift underground.”

South Railroad remains on track for a record of decision in February 2026, first gold in late 2027, and full production in 2028, which will bring Orla to the 500,000 ounce per year level. Across all three jurisdictions, Orla is investing more than US$50 million in exploration to extend mine life, while capital allocation priorities include growth, debt reduction, and eventually returning cash to shareholders. Arbitration in Panama provides additional future optionality.

Don’t forget to subscribe to Kitco Mining for more coverage from the 2025 Mining Forum Americas.

Special thanks to our sponsor, Metalla Royalty & Streaming Ltd, for making this coverage possible.
 👉 To learn more, visit https://metallaroyalty.com

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.

DPM Metals (TSX: DPM) President and CEO David Rae says investor appetite drove the company’s new Australian listing. Speaking to Kitco Mining at Mining Forum Americas 2025, he said there was “a niche or an opportunity where investors would be interested in a high margin producer with a growth portfolio heading towards 600,000 gold ounces equivalent.” DPM joined the ASX on September 18, 2025,  under the ticker ASX: DPM.

The year has been transformative, with the company delivering 70,000 gold equivalent ounces in Q2 at just over US$1,000 per ounce, all-in sustaining costs. This generated margins of US$2,200 per ounce. The Adriatic Metals acquisition fills the production gap as Chelopech winds down, and Rae noted, “We move straight away in 2027 to 425,000 ounces from somewhere in the 300,000 ounce gold equivalent range now.” The company is also debt-free, holding US$800 million in cash at Q2, with “about 75 to 80% of our free cash flow generated in H1 this year going in terms of buybacks and dividends.”

Upcoming catalysts include a Q4 feasibility study at Čoka Rakita (170,000 ounces per year at US$644 per ounce AISC), further drilling at Dimitri Potok, where results hit “131 meters at 4% copper equivalent,” and updated costs at Loma Larga in Ecuador.

Don’t forget to subscribe to our YouTube channel to stay up to date on the latest industry news and interviews.

Special thanks to our sponsor, Metalla Royalty & Streaming Ltd, for making this coverage possible
 👉 To learn more, visit https://metallaroyalty.com

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 has officially entered commercial production at its massive Blackwater Mine in British Columbia – on time and on budget. CEO Steven Dean joins Kitco’s Senior Mining Editor and Anchor Paul Harris to discuss the significance of this milestone, the path to becoming one of Canada’s largest gold producers, and how Artemis plans to ramp up production, exploration, and shareholder value without issuing new equity. Dean also outlines refinancing plans, long-term growth strategy, and how Artemis could soon rival some of the top-tier gold miners.

Key points:
- Blackwater Mine now in commercial production with industry-leading low AISC
- 2025 production guidance: 160–200k oz with costs as low as $670/oz
- Potential expansion to 500k+ oz/year in Phase 2
- Company plans to self-fund growth from cash flow – no equity dilution
- Exploration around Blackwater and higher gold price pit optimization could add millions of ounces

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.

Gold prices are soaring past $3,000, but are junior explorers feeling the lift? Luke Alexander, President & CEO of Newcore Gold, joins Kitco’s Senior Mining Editor and Anchor Paul Harris to discuss the company’s strong financial position, aggressive 35,000-meter drill program, and district-scale gold potential in Ghana. He also outlines Newcore’s strategy for value creation and the path toward a prefeasibility study (PFS) in 2026.

Key points:
- Newcore Gold raised $15M in an oversubscribed financing.
- Expanded drill program from 10,000m to 35,000m.
- Targeting resource growth and depth extensions in Ghana.
- PFS expected in H1 2026.
- Management owns 15%, aligned with shareholder value creation.

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.