Gold Archives - Page 2 of 43

The global Gold market is poised for growth, driven by economic volatility boosting investment demand, technological innovations enhancing mining efficiency, and increasing gold use in technology. The rising middle class in emerging economies also fuels jewelry demand, while geopolitical and economic shifts influence overall market dynamics.

Gold Market

Dublin, Jan. 20, 2026 (GLOBE NEWSWIRE) — The "Gold – Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.The global market for Gold was sized at 4.7 Thousand Tonnes in 2024 and is projected to reach 6.3 Thousand Tonnes by 2030, growing at a CAGR of 5.1% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Historically, gold has played a central role in many economies and has been used as a stable foundation for monetary systems. Even today, countries hold large reserves of gold as a safeguard to stabilize national economies and as a hedge against inflation or economic uncertainty. This precious metal is mined in several countries, with China, Australia, Russia, and the United States being the largest producers. The process of mining gold can be intensive and complex, involving extensive exploration, excavation, and processing.

What Drives the Growth of the Gold Market?The growth in the gold market is driven by several factors. Economic volatility and uncertainty often lead investors to gold as a safe store of value, pushing up its price and demand. Technological advancements that lower the cost of gold extraction and processing also contribute to market growth by sustaining its supply at lower costs.

Moreover, the expansion of the middle class in emerging economies boosts demand for gold jewelry and ornaments, further propelling the market. Additionally, as new uses for gold in technology and medicine are developed, its industrial demand continues to expand. Global trade policies and geopolitical tensions can also impact the gold market, influencing investor behavior and gold prices.How Are Technological Advancements Impacting Gold Production and Use?Technological advancements have significantly transformed the methods of extracting and processing gold, increasing efficiency and environmental sustainability. Modern techniques in gold mining include bio-mining, which uses microbial processes to extract gold from ore and reduce the environmental impact associated with traditional extraction methods such as cyanide leaching.

In gold refining, advancements have streamlined processes to reduce waste and improve the purity of the final product. Technology has also expanded the use of gold beyond adornment and currency into applications such as electronics, where gold's excellent conductivity makes it valuable for use in high-end connectors and circuit boards, and healthcare, where it is used in diagnostic procedures and treatments.What Are the Current Market Dynamics Influencing Gold Demand?The demand for gold is influenced by various factors that make it unique compared to other commodities. It is driven not only by its practical uses in jewelry and technology but also by its role as an investment vehicle. During times of economic uncertainty, gold is often seen as a 'safe haven' investment due to its intrinsic value and historical reliability.

This has been evident during economic downturns, where an increase in investment demand for gold often offsets the declines in its industrial and jewelry use. Additionally, the growing middle class in emerging markets has spurred demand for gold jewelry, particularly in countries like China and India, where gold is deeply woven into the cultural fabric. Central bank policies, inflation rates, and currency stability also significantly affect gold prices and investment demand.

Report Features:

Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
Company Profiles: Coverage of players such as AngloGold Ashanti, Barrick Gold Corporation, Furukawa Co., Ltd., Gabriel Resources Ltd., Harmony Gold Mining Company Limited and more.
Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Key Insights:

Market Growth: Understand the significant growth trajectory of the Gold Jewelry segment, which is expected to reach 3 Thousand Tonnes by 2030 with a CAGR of a 5.6%. The Gold Bars & Coins segment is also set to grow at 4.5% CAGR over the analysis period.
Regional Analysis: Gain insights into the U.S. market, valued at 1.2 Thousand Tonnes in 2024, and China, forecasted to grow at an impressive 7.6% CAGR to reach 1.4 Thousand Tonnes by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Scope

Segments: Type (Jewelry, Bars & Coins, ETFs & Similar Products, Central Banks & Other Investments, Technology).
Geographic Regions/Countries:World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Key Attributes:

Report Attribute	Details
No. of Pages	513
Forecast Period	2024 – 2030
Estimated Market Value in 2024	4.7 Thousand Tonnes
Forecasted Market Value by 2030	6.3 Thousand Tonnes
Compound Annual Growth Rate	5.1%
Regions Covered	Global

Key Topics Covered: MARKET OVERVIEW

Trade Shocks, Uncertainty, and the Structural Rewiring of the Global Economy
How Trump's Tariffs Impact the Market? The Big Question on Everyone's Mind
Global Economic Update
Gold – Global Key Competitors Percentage Market Share in 2025 (E)
Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2025 (E)

MARKET TRENDS & DRIVERS

Advances in Mining Technology Propel Growth in Gold Market
Increasing Demand for Gold as an Investment Expands Addressable Market Opportunity
Technological Innovations in Gold Extraction Generate Demand for Efficient Mining Solutions
Growth in Jewelry and Luxury Goods Sector Drives Adoption of Gold
Rising Focus on Sustainable and Ethical Sourcing Strengthens Business Case for Responsible Gold Mining
Adoption of Gold in Electronics and Technology Spurs Growth in Market
Advances in Gold Recycling and Recovery Sustain Growth in Secondary Markets
Integration with Digital and Blockchain Technologies Drives Market Expansion
Innovations in Gold-Based Nanomaterials Propel Growth in Medical and Industrial Applications

FOCUS ON SELECT PLAYERS:Some of the 366 companies featured in this Gold market report include:

AngloGold Ashanti
Barrick Gold Corporation
Furukawa Co., Ltd.
Gabriel Resources Ltd.
Harmony Gold Mining Company Limited
Jinshan Gold
Johnson Matthey PLC
Kinross Gold Corporation
New Gold Inc.
New mont Mining Corporation
Tertiary Minerals PLC
Vedanta Resources PLC
Zijin Mining Group

For more information about this report visit https://www.researchandmarkets.com/r/28zwga

About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Attachment

Gold Market

CONTACT:
CONTACT: ResearchAndMarkets.com
Laura Wood,Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

Goliath Resources Limited

TORONTO, Jan. 15, 2026 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (Frankfurt: B4IF) (the "Company" or "Goliath") is pleased to announce the results of its annual and special meeting of shareholders held January 14, 2026 (the “Meeting). All items of business tabled at the Meeting were approved by the requisite majorities, including:

Roger Rosmus, Graham Warren, Wayne Isaacs and Rein Turna were re-elected as directors of the Company;
McGovern Hurley LLP was re-appointed as the auditor of the Company;
The omnibus equity incentive plan (the “Plan”) was re-approved for use by the Company;
Certain amendments to the Plan were approved by the disinterested shareholders of the Company; and
The consolidation of the outstanding common shares of the Company on the basis of one (new) for up to seven (old) Common Shares (the “Consolidation”) was approved.

Despite the approval of the shareholders of the Consolidation at the Meeting, the Board of Directors of the Company has exercised its discretion and determined not to proceed with the Consolidation.

The Meeting materials, including the management information circular dated November 30, 2025 (the “Circular”), are available under the Company’s profile on www.SEDARPLUS.ca and on the Company’s website at https://goliathresourcesltd.com/.

About Goliath Resources Limited

Goliath Resources is an explorer of precious metals projects in the highly prospective Golden Triangle of Northwestern British Columbia. All of its projects are in high quality geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech. Goliath recently completed its largest fully funded drill campaign to date for a total of 64,364 meters in 2025. It has assays pending for 70 gold only holes and 110 gold equivalent holes. It is fully funded for a similar sized drill program in 2026. The Company’s key strategic cornerstone shareholders include Crescat Capital, a Global Commodity Group (Singapore), McEwen Inc. (NYSE: MUX) (TSX: MUX), Waratah Capital Advisors, Rob McEwen, Eric Sprott and Larry Childress.

For more information please contact:

Goliath Resources Limited

Mr. Roger Rosmus Founder and CEO Tel: +1.416.488.2887roger@goliathresources.com www.goliathresourcesltd.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Centerra Gold, Inc.’s CGAU shares hit a fresh 52-week high of $16.44 yesterday, before retracing slightly to close the session at $15.96.

CGAU has shot up 173.3% over the past year. The company has also outperformed the Zacks Mining-Gold industry’s 157% rise over the same time frame. Its rally has been driven primarily by higher gold prices, which have boosted margins, while steady production and better cost control have strengthened earnings visibility.

Image Source: Zacks Investment Research

Let’s take a look at the factors that are driving CGAU stock.

CGAU Boosted by Strong Q3 and Expansion Plans

Centerra Gold delivered a strong third-quarter performance, with revenues of $395.2 million, up 22% year over year, supported by higher prices of $3,178 per ounce for gold and $3.73 per pound for copper. The company produced 81,773 ounces of gold and 13.4 million pounds of copper, with stable operations, improved ore grades at Öksüt and effective plant management at Mount Milligan driving performance.

The company advanced several strategic growth initiatives. In September 2025, Centerra filed a Pre-Feasibility Study (PFS) for Mount Milligan, confirming a life-of-mine extension to 2045, a significant increase in mineral reserves, and planned throughput enhancements through plant upgrades and permitting activities extending into 2026–2027. In Nevada, the Goldfield project progressed with a technical study in August 2025, demonstrating strong economics and potential as a future production contributor.

On the development front, Centerra is moving ahead with the restart of the Thompson Creek mine and the Langeloth facility, with a feasibility-driven plan approved and ramp-up activities underway, targeting first production in the second half of 2027. Additionally, the company strengthened its exploration portfolio through a strategic equity investment in Midland Exploration in July 2025, supporting early-stage resource development and long-term growth potential.

CGAU’s Zacks Rank & Other Key Picks

CGAU currently sports a Zacks Rank #1 (Strong Buy).

Other top-ranked stocks in the Basic Materials space include Royal Gold Inc. RGLD, DPM Metals Inc. DPMLF and Harmony Gold Mining Company Limited HMY.

At present, RGLD and DPMLF sport a Zacks Rank #1, while HMY carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for RGLD’s current fiscal-year earnings is pinned at $8.04 per share, indicating a 53% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters while missing once, with the average surprise being 4%. Its shares have popped around 83.6% over the past year.

The Zacks Consensus Estimate for DPMLF’s current-year earnings stands at $2.27 per share, implying a 76% year-over-year increase. Its earnings beat the Zacks Consensus Estimates in each of the trailing four quarters, with the average earnings surprise being 13%. DPMLF’s shares have rallied roughly 127.2% over the past year.

The Zacks Consensus Estimate for HMY’s current-year earnings is pegged at $2.68 per share, indicating a year-over-year rise of 111.02%. HMY’s shares have gained 129.2% over the past year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

Royal Gold, Inc. (RGLD) : Free Stock Analysis Report

DPM Metals Inc. (DPMLF) : Free Stock Analysis Report

Centerra Gold Inc. (CGAU) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

Goliath Resources Limited

TORONTO, Jan. 14, 2026 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is focused on further expanding its new high-grade gold Surebet Discovery at its 100% controlled Golddigger Property that covers an area of 91,518 hectares in a highly prospective geological setting of the Eskay Rift, within 3 kilometers of the Red Line in the Golden Triangle of British Columbia. This area, in close proximity to the Red Line, has hosted some of Canada’s greatest gold mines including Eskay Creek, Premier and Snip. Other significant and well-known deposits in the Golden Triangle include Brucejack, Copper Canyon, Galore Creek, Granduc, KSM, Red Chris, and Schaft Creek. Goliath controls 56 kilometers of the Red Line which is a geologic contact between Triassic age Stuhini rocks and Jurassic age Hazelton rocks used as key markers when exploring for gold-copper-silver mineralization.

Goliath has completed over 150,000 meters of diamond drilling to date. It has confirmed a 1.8 square kilometer area that hosts multiple highly mineralized stacked zones containing high-grade gold grades that remains open. The Surebet discovery has predictable continuity and good metallurgy with gold recoveries from gravity and flotation at a 327-micrometer crush of 92.2% including 48.8% free gold from gravity alone (no cyanide required to recover the gold). The metallurgy completed to date shows no deleterious elements are present (see news release dated March 1, 2023).

AME Roundup 2026

To learn more about Goliath’s exciting new discovery, we would like to cordially invite you to visit us at our AME Roundup Core Shack, Booth # 1026C on Monday, January 26, 2026 – Tuesday, January 27, 2026 (9:00 AM – 4:00 PM). The event is being held at the Exhibit Hall – Vancouver Convention Centre East Building (1055 Canada Place, Vancouver, B.C.).

In case you are unable to see us at the core shack, please visit us at AME Roundup Booth #1104 as Goliath will also be exhibiting all 4 days Monday, January 26, 2026 – Wednesday, January 28, 2026 (9:00 AM – 4:00 PM) and Thursday, January 29, 2023 (9:00 AM – 2:30 PM).

Other Mining Conferences – Vancouver, January 2026

Vancouver Resource Investment Conference (VRIC), Goliath’s Booth #131. The event is being held at the Vancouver Convention Centre West Building (1055 Canada Place, Vancouver, B.C.) Sunday, January 25 – Monday, January 26, 2026 (8:30 AM – 6:00 PM). Roger Rosmus, Founder & CEO will be providing a corporate presentation on Sunday, January 25 (11:00 AM) at Workshop # 1.

Metals Investor Forum Vancouver, Goliath has a booth for the two day event and Roger Rosmus, Founder & CEO will be presenting Friday, January 23, 2026, during Session 1 at 10:00 AM. The event is being held at the Fairmont Pacific Rim (1038 Canada Place, Vancouver, B.C.) on Friday, January 23 – Saturday, January 24 (8:40 AM – 6:00 PM).

About the AME Roundup Conference

The AME Roundup is a dynamic four-day trade show featuring key players in mineral exploration, development, mining and reclamation. Among the hundreds of exhibitors under the sails in the Vancouver Convention Centre East, you will find prospectors and entrepreneurs, junior explorers and international mining companies, Indigenous groups, governments, universities, not-for-profits and an incredible collection of service and supply companies. For tickets and more information please visit: https://roundup.amebc.ca/

About the Vancouver Resource Investment Conference

The Vancouver Resource Investment Conference (VRIC) is the World’s Premier Mining Investment Event at a time when Gold & Silver are breaking records. The event will host 120 keynote speakers, 300 mining companies and over 12,000 attending investors. VRIC brings together the dealmakers, analysts, and operators shaping the future of precious metals — right when capital is surging back into the sector. For tickets and more information please visit: https://cambridgehouse.com/vancouver-resource-investment-conference

About the Metals Investor Forum Vancouver

Join 55 leading companies and 13 powerhouse keynote speakers at one of the most anticipated events of the year. Writers include: Eric Coffin (HRA Advisories), Joe Mazumdar (Exploration Insights), Jeff Clark (Paydirt Prospector), Brien Lundin (Gold Newsletter), Robert Sinn (Goldfinger Capital), Garrett Goggin (Golden Portfolio), Brian Leni (Junior Stock Review), John Kaiser (Kaiser Research Online), Chen Lin (What is Chen Buying? What is Chen Selling?), Peter Krauth (The Silver Stock Investor), and Greg McCoach (The Mining Speculator) for an exclusive, value-packed event. For tickets and more information please visit: https://metalsinvestorforum.com/metals-investor-forum-vancouver-jan-2026/

About the Golddigger Property

The Golddigger Property is 100% controlled and covers an area of 91,518 hectares in a highly prospective geological setting of the Eskay Rift, within 3 kilometers of the Red Line in the Golden Triangle of British Columbia. This area, in close proximity to the Red Line, has hosted some of Canada’s greatest gold mines including Eskay Creek, Premier and Snip. Other significant and well-known deposits in the Golden Triangle include Brucejack, Copper Canyon, Galore Creek, Granduc, KSM, Red Chris, and Schaft Creek. Goliath controls 56 kilometers of the Red Line which is a geologic contact between Triassic age Stuhini rocks and Jurassic age Hazelton rocks used as key markers when exploring for gold-copper-silver mineralization.

The Surebet discovery has predictable continuity and good metallurgy with gold recoveries from gravity and flotation at a 327-micrometer crush of 92.2% including 48.8% free gold from gravity alone (no cyanide required to recover the gold). The metallurgy completed to date shows no deleterious elements are present (see news release dated March 1, 2023).

The Property is in a well positioned location in close proximity to the communities of Alice Arm and Kitsault where there is a permitted mill site on private property. It is situated on tide water with direct barge access to Prince Rupert (190 kilometers via the Observatory inlet/Portland inlet). The town of Kitsault is accessible by road (190 kilometers from Terrace, 300 kilometers from Prince Rupert) and has a barge landing, dock, and infrastructure capable of housing at least 300 people, including high-tension power.

Additional infrastructure in the area includes the Dolly Varden Silver Mine Road (only 7 kilometers to the East of the Surebet discovery) with direct road access to Alice Arm barge landing (18 kilometers to the south of the Surebet discovery) and high-tension power (25 kilometers to the east of Surebet discovery). The city of Terrace (population 16,000) provides access to railway, major highways, and airport with supplies (food, fuel, lumber, etc.), while the town of Prince Rupert (population 12,000) is located on the West Coast of British Columbia and houses an international container seaport also with direct access to railway and an airport.

About CASERM (Center to Advance the Science of Exploration to Reclamation in Mining) Goliath Resources is a paying member and active supporter of the Center to Advance the Science of Exploration to Reclamation in Mining (CASERM), which is one of the world’s largest research centers in the mining sector. CASERM is a collaborative research venture between Colorado School of Mines and Virginia Tech that is supported by a consortium of mining and exploration companies, analytical instrumentation and software companies, and federal agencies aiming to transform the way geoscience data is acquired and used across the mining value chain. The center forms part of the I-UCRC program of the National Science Foundation. Research focuses on the integration of diverse geoscience data to improve decision making across the mine life cycle, beginning with the exploration for subsurface resources continuing through mine operation as well as closure and environmental remediation. Over the past three years, Goliath Resources’ membership in CASERM has allowed a high level of research to be performed on the Surebet Discovery.

Qualified Person

Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Goliath Resource Limited projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release. Mr. Turna is an Independent Director of the Company.

About Goliath Resources Limited

Goliath Resources is an explorer of precious metals projects in the highly prospective Golden Triangle of Northwestern British Columbia. All of its projects are in high quality geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech. Goliath completed its largest fully funded drill campaign to date for a total of 64,364 meters in 2025. Assays are pending for gold only on 70 holes and 110 holes pending for gold equivalent assays. It is fully funded for a similar sized drill program in 2026. The Company’s key strategic cornerstone shareholders include Crescat Capital, a Global Commodity Group (Singapore), McEwen Inc. (NYSE: MUX) (TSX: MUX), Waratah Capital Advisors, Rob McEwen, Eric Sprott and Larry Childress.

For more information please contact: Goliath Resources Limited Mr. Roger Rosmus Founder and CEO Tel: +1-416-488-2887roger@goliathresources.com www.goliathresourcesltd.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of the Company to complete financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.

The forward-looking information contained in this release is made as of the date hereof and Goliath is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The securities referred to herein have not been and will not be will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

IAMGOLD Corporation IAG shares hit a fresh 52-week high of $18.07 yesterday, before retracing slightly to close the session at $17.8.

IAG has shot up 220.1% over the past year. The company has also outperformed the Zacks Mining-Gold industry’s 146.5% rise over the same time frame. The rally has been driven primarily by higher gold prices, record production at Cote Gold, improved cost efficiency across its West African operations, debt reduction and growing investor optimism.

Zacks Investment Research

Image Source: Zacks Investment Research

Let’s take a look at the factors that are driving IAG stock.

Production Expansion Drives IAG’s Momentum

IAMGOLD’s production and revenue results reflected a mix of strong growth at Cote Gold and operational challenges at Westwood and Essakane. Total attributable gold production rose 9.8% year over year to 190,000 ounces, driven largely by the Cote Gold ramp-up, which delivered 75,000 attributable ounces (106,000 ounces on a 100% basis), up roughly 83% from 41,000 ounces in the third quarter of 2024 as the mine progressed toward design capacity.

By contrast, Westwood’s production declined 28% to 23,000 ounces due to lower grades and transitional mining, while Essakane’s attributable output fell 8% to 92,000 ounces amid grade variability. Despite the uneven asset-level performance, revenues surged 61% year over year to $706.7 million from $438.9 million, supported by higher realized gold prices averaging $3,492 per ounce and increased sales volumes, with the ramp-up at Cote Gold making a significant contribution to the top-line growth.

In 2025, IAMGOLD advanced key projects and strategic initiatives to bolster growth. Cote Gold reached sustained nameplate capacity, improving production and costs with incremental investments like added crushing capacity. The company expanded its Quebec pipeline by acquiring Northern Superior Resources and Mines d’Or Orbec, consolidating multiple deposits into the Nelligan Mining Complex. Ongoing drilling at Nelligan and Monster Lake continues to enhance resource potential, while debt repayment strengthens the balance sheet and financial flexibility as IAMGOLD moves into a higher-production phase.

IAG’s Zacks Rank & Key Picks

IAG currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Basic Materials space are Royal Gold Inc. RGLD, DPM Metals Inc. DPMLF and Harmony Gold Mining Company Limited HMY.

At present, RGLD and DPMLF sport a Zacks Rank #1 (Strong Buy), while HMY carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for DPMLF’s current-year earnings stands at $2.27 per share, indicating a 76% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average earnings surprise being 13%. DPMLF’s shares have rallied roughly 124.1 over the past year.

The Zacks Consensus Estimate for HMY’s current-year earnings is pegged at $2.68 per share, indicating a year-over-year rise of 111%. HMY’s shares have gained 136.2% over the past year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

Iamgold Corporation (IAG) : Free Stock Analysis Report

Royal Gold, Inc. (RGLD) : Free Stock Analysis Report

DPM Metals Inc. (DPMLF) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

Gold capped an exceptional 2025 with one of its strongest annual performances in decades. According to the World Gold Council, throughout the calendar year, gold achieved more than 50 all-time highs and returned over 60%. Persistent geopolitical uncertainty, aggressive central-bank purchases and growing expectations of interest-rate cuts fueled steady inflows into the safe-haven asset, making gold a clear outperformer across global markets.

That momentum carried into 2026, culminating in gold hitting a record high on Jan. 12. The rally was underpinned primarily by rising geopolitical risks that kept investors on edge. Renewed tensions in the Middle East, alongside concerns around Iran and broader global flashpoints, increased demand for assets perceived as stores of value during periods of instability. In such environments, gold traditionally benefits as investors seek protection from sudden market shocks.

Gold also surged in the session as the Justice Department’s threat against the Fed revived fears over the central bank’s independence, undermining confidence in U.S. institutions. The episode raised policy uncertainty, weakened the dollar outlook and drove investors toward gold as a safe-haven asset. Bullion climbed close to $4,600 an ounce and silver neared a record after Fed Chair Jerome Powell said the indictment threat reflected broader pressure on the central bank. In such an environment, stocks like Harmony Gold Mining Company Limited HMY, Agnico Eagle Mines Limited AEM, Royal Gold, Inc. RGLD and Kinross Gold Corporation KGC emerge as viable safe-haven options.

Economic signals from the United States have been playing a crucial role. Softer-than-expected labor market data and signs of slowing growth strengthened expectations that the Fed could begin cutting interest rates later in 2026. Lower interest rates slash the opportunity cost of holding non-yielding assets like gold, making bullion more attractive relative to bonds and other interest-bearing instruments. These expectations were quickly reflected in higher gold prices.

Central-bank demand continued to provide a strong structural support. After heavy purchases throughout 2025, several central banks maintained their gold buying into early 2026 as part of efforts to diversify reserves away from the U.S. dollar and hedge against currency and geopolitical risks. This sustained official-sector demand tightened supply and reinforced bullish sentiment in the market.

Unlike stocks or bonds, gold does not generate income, and it pays no interest or dividends. Therefore, when interest rates are high, investors can earn better returns by holding fixed-income assets, making gold less appealing. Conversely, when rates fall, the opportunity cost of holding gold declines. With bond yields and savings returns offering less reward, investors are more willing to allocate money into non-yielding assets like gold, driving up demand and prices.

Our Choices

The stocks below flaunt a Zacks Rank #1 (Strong Buy) or #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Harmony Gold is a South Africa-based gold mining and exploration company that engages in the exploration, extraction and processing of gold and other minerals. HMY’s expected earnings growth rate for the current year is 111%. The Zacks Consensus Estimate for its current-year earnings has improved 0.8% over the past 60 days. HMY has a Zacks Rank #2.

Agnico Eagle Mines is a global gold mining company engaged in the exploration, development and production of gold. AEM’s expected earnings growth rate for the current year is 86.1%. The Zacks Consensus Estimate for its current-year earnings has improved 2.1% over the past 60 days. AEM has a Zacks Rank #1.

Royal Gold is a Denver-based precious metals royalty and streaming company. RGLD’s expected earnings growth rate for the current year is 52.9%. The Zacks Consensus Estimate for its current-year earnings has improved 1% over the past 60 days. RGLD has a Zacks Rank #1.

Kinross Gold is a gold mining company focused on the exploration, development and production of gold from mines across the Americas and West Africa. KGC’s expected earnings growth rate for the current year is 147.1%. The Zacks Consensus Estimate for its current-year earnings has improved 7.7% over the past 60 days. KGC has a Zacks Rank #1.

Bottom Line

Gold remains an attractive investment today because ongoing inflation and economic uncertainty elevate its safe-haven appeal. Central banks and investors are diversifying away from risky assets. Also, recent political turmoil, including the U.S. DOJ threat to the Fed chair amid pressure over monetary policy, has boosted gold’s demand as a hedge against market and policy risks.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Kinross Gold Corporation (KGC) : Free Stock Analysis Report

Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

Royal Gold, Inc. (RGLD) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

Investors might want to bet on Harmony Gold (HMY), as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates — one of the most powerful forces impacting stock prices.

The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate — the consensus of EPS estimates from the sell-side analysts covering the stock — for the current and following years is tracked by the system.

The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.

Therefore, the Zacks rating upgrade for Harmony Gold basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.

Most Powerful Force Impacting Stock Prices

The change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.

For Harmony Gold, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate Revisions

Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for Harmony Gold

This gold miner is expected to earn $2.68 per share for the fiscal year ending June 2026, which represents no year-over-year change.

Analysts have been steadily raising their estimates for Harmony Gold. Over the past three months, the Zacks Consensus Estimate for the company has increased 13.6%.

Bottom Line

Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of Harmony Gold to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

TORONTO, Dec. 22, 2025 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report longtime strategic and cornerstone shareholders, inclusive of Crescat Capital, have exercised the balance of their remaining warrants. The Company has received proceeds totaling $1,730,882 in the past few weeks from warrant exercises.

The only warrants that remain outstanding for Goliath are 2,590,673 priced at $2.50 expiring March 10, 2026 all held by one cornerstone strategic investor (see news December 18, 2026), not including 841,777 finder warrants all expiring in 2027 with an average strike price of $2.59.

Kevin C. Smith, CFA, Founder and CEO of Crescat Capital, states: “Go, Roger and team. What an awesome and expansive gold layer cake you have uncovered! We are so happy to have been cornerstone investors since 2020. This new discovery has only continued to get bigger and better with more drilling, and it’s still open. Now, there’s a solid new hypothesis for even more growth, a potential gold-bearing magmatic causative intrusive source nearby. We have built a strong faith in Goliath’s management and geologic team; we are very excited to see a lot more to come.”

Roger Rosmus, Founder and CEO of Goliath, states: “Crescat Capital was one of the first strategic cornerstone investors in Goliath and we greatly appreciate their ongoing support. As well, the continued support of all our strategic investors which I believe is a true testament to the high quality of Surebet, our high-grade gold discovery in the Golden Triangle, B.C.”

About Crescat Capital

Crescat is a multi-disciplinary hedge fund firm headquartered in Denver, Colorado. Its mission is to grow and protect wealth over complete business cycles by deploying tactical and strategic investment themes. The firm’s investment process combines proprietary value-driven equity and macro models with veteran industry advisors. Crescat has been building activist stakes in a portfolio of precious and critical metals mining companies, one of its strongest conviction long-term investment themes. Crescat’s funds include Precious Metals, Institutional Commodity, Long/Short, Global Macro, and Institutional Macro.

About Golddigger Property

Qualified Person

About Goliath Resources Limited

Goliath Resources is an explorer of precious metals projects in the highly prospective Golden Triangle of Northwestern British Columbia. All of its projects are in high quality geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech. Goliath recently completed its largest fully funded drill campaign to date for a total of 64,364 meters in 2025 and has 70 holes with assays pending. It is fully funded for another large (40k – 50k meter) drill program in 2026. The Company’s key strategic cornerstone shareholders include Crescat Capital, a Global Commodity Group (Singapore), McEwen Inc. (NYSE: MUX) (TSX: MUX), Waratah Capital Advisors, Rob McEwen, Eric Sprott and Larry Childress.For more information please contact:

Goliath Resources Limited Mr. Roger Rosmus Founder and CEO Tel: +1.416.488.2887roger@goliathresources.com www.goliathresourcesltd.com

QA/QC Protocol & Disclaimer

Oriented HQ-diameter or NQ-diameter diamond drill core from the drill campaign is placed in core boxes by the drill crew contracted by the Company. Core boxes are transported by helicopter to the staging area and then transported by truck to the core shack. The core is then re-orientated, meterage blocks are checked, meter marks are labelled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX DepositTM. Drill holes were planned using Leapfrog GeoTM and QGISTM software and data from the 2017-2024 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration is sampled in lengths of 0.5 to 1.5 meters. Core samples are cut lengthwise in half: one-half remains in the box and the other half is inserted in a clean plastic bag with a sample tag. The bagged samples are then weighed and secured with a zip tie. Certified reference materials (CRMs), blanks and duplicates are added in the sample stream at a rate of 10%. To ensure analytical anonymity, CRM identification labels are removed prior to submission to the laboratory. Additional out-of-sequence blanks are introduced immediately following core samples that contain VG-NE or high-grade sulphide mineralization.

Grab, channels, chip and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer, or hammer and chisel to expose fresh surfaces and to liberate a sample of anywhere between 0.5 to 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample sites were recorded using hand-held GPS units (accuracy 3-10 meters) and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples are then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, certified reference materials, and duplicate samples are inserted regularly into the sample sequence at a rate of 10%.All samples are transported in rice bags sealed with numbered security tags. The rice bags are transported from the core shacks to the MSALABS facilities in Terrace, BC. MSALABS is certified with both AC89-IAS and ISO/IEC Standard 17025:2017. The core samples undergo preparation via drying, crushing to ~70% of the material passing a 2 mm sieve and riffle splitting. The sample splits are weighed and transferred into three plastic jars, each containing between 300 g and 500 g of crushed sample material. A 250 g split is pulverized to ensure at least 85% of the material passes through a 75 µm sieve. The crushed samples are transported to the MSALABS PhotonAssayTM facility in Prince George, where gold concentrations are quantified via photon assay analysis (method CPA-Au1). Samples that result in gold concentrations ≥5 ppm are analyzed to extinction. Photon assay uses high-energy X-rays (photons) to excite atomic nuclei within the jarred samples, inducing the emission of secondary gamma rays, which are measured to quantify gold concentrations. The assays from all jars are combined on a weight-averaged basis. Multielement analyses are carried at the MSALABS facilities in Surrey, BC, where 250 g of pulverized splits are analyzed via ICF6xx and IMS-230 methods. The IMS-230 method uses 4-acid digestion (a combination of hydrochloric, nitric, perchloric and hydrofluoric acids) followed by inductively coupled plasma emission spectrometry to quantify concentrations of 48 elements. Samples with over-limit results for Ag, Cu, Pb and Zn undergo ore-grade analysis via the ICF-6xx method (where ‘xx’ denotes the target metal). This method employs 4-acid digestion followed by inductively coupled plasma emission spectrometry.

Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and Gold Equivalent (AuEq) metal values are calculated using: Au 2797.16 USD/oz, Ag 31.28 USD/oz, Cu 4.25 USD/lbs, Pb 1955.58 USD/ton and Zn 2750.50 USD/ton on January 31st, 2025. There is potential for economic recovery of gold, silver, copper, lead, and zinc from these occurrences based on other mining and exploration projects in the same Golden Triangle Mining Camp where Goliath’s project is located such as the Homestake Ridge Gold Project (Auryn Resources Technical Report, Updated Mineral Resource Estimate and Preliminary Economic Assessment on the Homestake Ridge Gold Project, prepared by Minefill Services Inc. Bothell, Washington, dated May 29, 2020). Here, AuEq values were calculated using 3-year running averages for metal price, and included provisions for metallurgical recoveries, treatment charges, refining costs, and transportation. Recoveries for Gold were 85.5%, Silver at 74.6%, Copper at 74.6% and Lead at 45.3%. It will be assumed that Zinc can be recovered with the Copper at the same recovery rate of 74.6%. The quoted reference of metallurgical recoveries is not from Goliath’s Golddigger Project, Surebet Zone mineralization, and there is no guarantee that such recoveries will ever be achieved, unless detailed metallurgical work such as in a Feasibility Study can be eventually completed on the Golddigger Project.

The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.

This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal. The securities referred to herein have not been and will not be will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

TORONTO, Dec. 18, 2025 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report Rob McEwen a cornerstone strategic investor has increased his direct ownership by exercising all of his warrants for total proceeds of $1,214,285. This exercise takes Rob’s direct ownership to 4,445,142 common shares of the Company representing 2.6% of the total issued and outstanding shares.

McEwen Inc. (TSX: MUX, NYSE: MUX) an additional cornerstone strategic investor holds 5,181,347 common shares in Goliath plus 2,590,673 warrants. These warrants have a strike price of $2.50 expiring March 10, 2026 representing $6,476,683 and if exercised, McEwen Inc. would own directly 7,772,020 of the Company or ~4.5%.

Roger Rosmus, Founder and CEO of Goliath, states: “We want to thank the continued support of all our cornerstone strategic and long term investors, specifically Rob McEwen for the exercise of his warrants. The funds received of $1,214,285 will further enhance and strengthen Goliath’s already healthy financial position.”

About Golddigger Property

Qualified Person

About Goliath Resources Limited

Goliath Resources is an explorer of precious metals projects in the highly prospective Golden Triangle of Northwestern British Columbia. All of its projects are in high quality geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech. Goliath recently completed its largest fully funded drill campaign to date for a total of 64,364 meters in 2025 and has 70 holes with assays pending. It is fully funded for another large (40k – 50k meter) drill program in 2026. The Company’s key strategic cornerstone shareholders include Crescat Capital, a Global Commodity Group (Singapore), McEwen Inc. (NYSE: MUX) (TSX: MUX), Waratah Capital Advisors, Rob McEwen, Eric Sprott and Larry Childress.

For more information please contact:

Goliath Resources Limited Mr. Roger Rosmus Founder and CEO Tel: +1.416.488.2887roger@goliathresources.com www.goliathresourcesltd.com

QA/QC Protocol & Disclaimer

This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.The securities referred to herein have not been and will not be will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

TORONTO, Dec. 16, 2025 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (Frankfurt: B4IF) (the "Company" or "Goliath") is pleased to announce that it has mailed the meeting materials in connection with its annual and special meeting of shareholders of the Company to be held on January 14, 2026 (the “Meeting”). The Meeting materials, including the management information circular dated November 30, 2025 (the “Circular”), are available under the Company’s profile on www.SEDARPLUS.ca and on the Company’s website at https://goliathresourcesltd.com/. At the Meeting, among other things, shareholders will be asked to consider a resolution approving a consolidation (the “Consolidation Proposal”) of the Company’s issued and outstanding common shares (the “Common Shares”) on the basis of one (new) for up to seven (old) Common Shares (up to 1:7). Approval of the Consolidation Proposal will provide the Board of Directors (the “Board”) with the discretion to determine the actual consolidation basis within this range. Please note that if the Consolidation Proposal is approved, no more than one consolidation will take place – there will be no successive consolidations without the further approval of shareholders. Furthermore, approval of the Consolidation Proposal does not mean that a Common Share consolidation will occur, as the Board will have the discretion not to proceed with the Consolidation Proposal if it is deemed to be in the best interests of the Company not to do so.

The potential benefits of the Consolidation include:

(a) attracting greater investor interest – the Consolidation may have the effect of raising, on a proportionate basis, the price of the Company’s Common Shares, which could appeal to certain investors that find shares valued above certain prices to be more attractive from an investment perspective;

(b) increasing institutional investor participation – certain institutional investors have internal guidelines which prevent them from investing in small- or micro-cap stocks, regardless of the strength of the operations and management of the target investee company;

(c) providing greater flexibility in business opportunities – the Company believes that the Consolidation may provide the Company with greater flexibility in considering business opportunities that are affected by the share capital of the Company and pricing of warrants and options;

(d) complying with listing criteria for U.S. stock exchanges that require a certain minimum price per share should the Company pursue a new listing; and

(e) improving the prospects of raising additional capital at a higher price per share – the higher anticipated price of the post-consolidation Common Shares may allow the Company to raise additional capital through the sale of additional Common Shares at a higher price per Common Share than would be possible in the absence of the Consolidation.

Proposed Consolidation Ratios

As of today’s date, the Company has 171,754,056 Common Shares issued and outstanding. Following the completion of the proposed Consolidation, the number of Common Shares of the Company issued and outstanding will depend on the ratio selected by the Board of Directors. The following table sets out the appropriate number of Common Shares that would be outstanding as a result of the Company at the ratios suggested below.

Selected Proposed Consolidation Ratios	Approximate Number of Outstanding Common Shares(Post Consolidation)(1) (2)
1 (new) for 2 (old)	85,877,028
1 (new) for 3 (old)	57,251,352
1 (new) for 4 (old)	42,938,514
1 (new) for 5 (old)	34,350,811
1 (new) for 6 (old)	28,625,676
1 (new) for 7 (old)	24,536,294

Notes:

(1) The exact number of Common Shares outstanding after the consolidation will vary based on the elimination of fractional shares, and certain other factors.(2) Based on the number of outstanding Common Shares as at the date hereof, being 171,754,056 Common Shares.

The Board is recommending that shareholders approve the Consolidation Proposal at the Meeting. The Company is not expected to change its name or trading symbol in conjunction with the Consolidation Proposal. All outstanding convertible securities such as stock options, RSUs and warrants will also be affected by the Consolidation Proposal, if approved.

The Board proposes to reduce the number of Common Shares of the Company in order to increase its flexibility with respect to potential business transactions, if determined by the Board of Directors to be necessary and/or desirable. Please see the Circular for more information in regard to the Consolidation Proposal. The Consolidation is subject to the approval of the shareholders of the Company, any required regulatory approvals as well as the approval of the TSX Venture Exchange.

About Goliath Resources Limited

Goliath is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. All of its projects are in high quality geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech. Goliath’s key strategic cornerstone shareholders include Crescat Capital, McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), Mr. Rob McEwen, a Global Commodity Group based in Singapore, Mr. Eric Sprott and Mr. Larry Childress.

For more information please contact:

Goliath Resources Limited

Mr. Roger Rosmus Founder and CEO Tel: +1.416.488.2887 roger@goliathresources.com www.goliathresourcesltd.com

This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this news release include statements regarding the Consolidation Proposal (including the completion of the Consolidation Proposal on the terms and timeline as announced or at all and the timing to implement the Consolidation Proposal), and the Company’s ability to obtain all regulatory approvals, including the approval of the Exchange. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting the Company’s business and results of operations; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

Westlake Corporation WLK announced it has approved a plan to cease operations at three of the North American chlorovinyl production facilities and the Styrene manufacturing unit amid challenging conditions in the global commodities chemicals industry. The closure is expected to take place in December 2025.

The affected facilities include the PVC plant in Aberdeen, MS, the VCM plant in Lake Charles, LA, North site and a diaphragm chlor-alkali unit at Lake Charles, LA, South site. Operations will also cease at its Lake Charles styrene plant.

The seven other North American chlorovinyl facilities will continue supplying customers with PVC, VCM and chlor-alkali products. The company will end up with annual production capacity of approximately 520 million pounds of suspension PVC globally, including 4,900 million pounds in North America, 7,630 million pounds of VCM globally, including 6,050 million pounds in North America and 6,680 million pounds of chlorine and 7,510 million pounds of caustic soda globally, including 5,410 million pounds of chlorine and 6,100 million pounds of caustic soda in North America.

The closures will also result in a workforce reduction of about 295 employees. Westlake expects pre-tax costs of approximately $415 million, mainly from non-cash accelerated depreciation, amortization and asset write-offs, along with employee severance and other shutdown costs. Most of these costs are expected to be recognized in the fourth quarter of 2025.

Westlake Corporation Price and Consensus

Westlake Corporation price-consensus-chart | Westlake Corporation Quote

WLK’s Zacks Rank & Key Picks

WLK currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the Basic Materials space are Kinross Gold Corporation KGC, Fortuna Mining Corp. FSM and Harmony Gold Mining Company Limited HMY.

At present, KGC sports a Zacks Rank #1 (Strong Buy), while FSM and HMY carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for KGC’s current-year earnings is pegged at $1.67 per share, indicating a rise of 145.59%. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters while missing once, with an average surprise of 17.37%. KGC shares have gained 196.5% over the past year.

The Zacks Consensus Estimate for FSM’s current fiscal-year earnings is pinned at 76 cents per share, indicating a 65.22% year-over-year increase. Its shares have surged 108.3% over the past year.

The Zacks Consensus Estimate for HMY’s 2026 earnings is pegged at $2.68 per share, indicating a 132.1% year-over-year increase. HMY shares have gained 134.6% over the past year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Westlake Corporation (WLK) : Free Stock Analysis Report

Kinross Gold Corporation (KGC) : Free Stock Analysis Report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

Fortuna Mining Corp. (FSM) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

BASF SE BASFY partnered with San Fang Chemical Industrial Co., and Nichetech Advanced Materials Co. by signing a Memorandum of Understanding (MoU) to collaborate in the development of sustainable, circular solutions for the global footwear industry, with a shared ambition to achieve net-zero carbon emissions by 2050.

The collaboration’s first milestone is the launch of Global Recycled Standard (GRS)-certified TPU films. These high-performance films have verified recycled content that does not compromise the durability, flexibility, and quality of footwear. The certification enables tracking recycled content throughout the supply chain. Building on this launch, the partners plan to enhance the portfolio with more GRS-certified TPU products that comply with international recycling standards, supporting the adoption of innovative solutions worldwide.

The alliance brings forward the individual expertise of each of the partners. BASF contributes with its extensive knowledge in sustainable solutions and applications, San Fang adds expertise in recycled polyester polyols, as well as key raw materials, and Nichetech provides specialization in manufacturing capabilities and strong market knowledge. San Fang and Nichetech, collectively, bring deep expertise in TPU film applications.

All three companies emphasized the goal of accelerating circular solutions, reducing carbon emissions, and enabling brands to incorporate recycled materials on a wide scale. Through joint innovation, integrated resources and strict quality control, BASF, San Fang and Nichetech will promote sustainability in the footwear industry.

BASFY’s shares have gained 17.8% over the past year compared with the industry’s 16.7% decline.

Zacks Investment Research

Image Source: Zacks Investment Research

BASFY’s Zacks Rank & Key Picks

BASFY currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Basic Materials space are Kinross Gold Corporation KGC, Fortuna Mining Corp. FSM and Harmony Gold Mining Company Limited HMY.

At present, KGC sports a Zacks Rank #1 (Strong Buy), while FSM and HMY carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for FSM’s current fiscal-year earnings is pinned at 76 cents per share, indicating a 65.22% year-over-year increase. Its shares have surged 108.3% over the past year.

The Zacks Consensus Estimate for HMY’s 2026 earnings is pegged at $2.68 per share, indicating a 132.1% year-over-year increase. HMY shares have gained 134.6% over the past year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Kinross Gold Corporation (KGC) : Free Stock Analysis Report

BASF SE (BASFY) : Free Stock Analysis Report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

Fortuna Mining Corp. (FSM) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

Albemarle Corporation ALB has entered into a cesium concentrate offtake agreement with Power Metals Corp. Under the agreement, ALB has agreed to a pre-payment of C$5 million to Power Metals Corp for cesium oxide concentrate from the latter’s Case Lake Project located in Ontario, Canada. The deal involves ALB's purchase of the current offtake rights held by Winsome Resources in the project.

The Case Lake Project has been of growing strategic importance as it hosts near-surface, high-grade cesium and has the potential to play a significant role in securing North America’s cesium supply chain. While the project’s offtake rights are being assigned to ALB, Winsome will retain its 15.8% shareholding of Power Metals. Albemarle’s participation strengthens Power Metals’ Canadian critical minerals strategy by securing downstream expertise in high-value cesium chemicals and supporting the development of an integrated cesium market.

The transfer of offtake rights from Hong Kong-based Sinomine Resources Limited to Winsome Resources and now, Albemarle marks a shift in the global critical-minerals landscape as the focus on securing the North American supply chain increases.

The pre-payment is subject to Power Metals securing the necessary approvals and permits to commence mining at Case Lake. It has laid out financing in stages as key development milestones are achieved, with the first portion amounting to C$2M paid following execution of the pre-payment commitment and the second C$3M paid on delivery of Environmental Compliance Approval for the Case Lake Project in 2026.

ALB’s shares have gained 36.1% over the past year compared with the industry’s 17% decline.

Image Source: Zacks Investment Research

ALB’s Zacks Rank & Key Picks

ALB currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Basic Materials space are Kinross Gold Corporation KGC, Fortuna Mining Corp. FSM and Harmony Gold Mining Company Limited HMY.

At present, KGC sports a Zacks Rank #1 (Strong Buy), while FSM and HMY carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for KGC’s current-year earnings is pegged at $1.67 per share, indicating a rise of 145.59%. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters while missing it in one, with an average surprise of 17.37%. KGC’s shares have risen 188.2% over the past year.

The Zacks Consensus Estimate for FSM’s current fiscal-year earnings is pinned at 76 cents per share, indicating a 65.22% year-over-year increase. Its shares have surged 110.8% over the past year.

The Zacks Consensus Estimate for HMY’s 2026 earnings is pegged at $2.68 per share, indicating a 132.1% year-over-year increase. HMY’s shares have gained 133.9% over the past year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Kinross Gold Corporation (KGC) : Free Stock Analysis Report

Albemarle Corporation (ALB) : Free Stock Analysis Report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

Fortuna Mining Corp. (FSM) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

Nutrien Ltd.’s NTR shares have popped 40.5% so far this year, outperforming the industry’s 14.8% gain and the S&P 500’s 18.3% rise.

Price Performance of NTR vs. Industry and S&P 500

Image Source: Zacks Investment Research

Let’s take a look at the factors that are driving this fertilizer maker.

Global Fertilizer Demand Strength Supports NTR’s Rally

NTR’s rally has been underpinned by a combination of favorable agricultural market conditions, effective operational execution and improving investor confidence. The key driver has been sustained global fertilizer demand — particularly for potash, nitrogen and phosphate — bolstered by expectations of strong crop production and higher input requirements in 2025, alongside tight inventories and limited new supply.

Healthy demand from major markets such as North America, Brazil and Southeast Asia has supported firm pricing and higher sales volumes, prompting Nutrien to lift its 2025 potash sales outlook to around 14-14.5 million tons after delivering record shipment levels in the first nine months of the year.

Nutrien is also gaining from acquisitions and the growing adoption of its digital platform. It continues expanding in Brazil and plans to use free cash flow to pursue targeted growth investments and tuck-in acquisitions across its retail business in 2025.

Operational Leverage & Cash Flow Reinforce Confidence

Operational performance and financial results have further strengthened investor confidence. In the third quarter of 2025, Nutrien delivered strong EBITDA growth, supported by higher fertilizer sales volumes and firmer pricing across all segments, with potash, nitrogen and retail each contributing meaningfully, reflecting improved operating leverage alongside continued portfolio optimization and cost-control initiatives.

The company reported margin expansion and a sharp increase in free cash flow, which provided flexibility to return capital to its shareholders through dividends and share buybacks totaling well over $1 billion in the first nine months, underscoring Nutrien’s disciplined capital allocation and balance-sheet strength.

Nutrien Advances Cost Cuts & Efficiency Gains

Nutrien’s cost and operational efficiency efforts are set to further support performance. The company is focused on lowering potash production costs and has implemented several strategic actions to reduce controllable expenses and improve free cash flow. With accelerated efficiency and savings initiatives, Nutrien expects to achieve about $200 million in total cost reductions in 2025 and is currently ahead of schedule on this target.

NTR’s Zacks Rank & Key Picks

NTR currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space include Agnico Eagle Mines Limited AEM, Harmony Gold Mining Company Limited HMY and Paladin Energy Ltd PALAF.

The Zacks Consensus Estimate for Agnico Eagle’s current-year earnings is pegged at $7.78 per share. AEM, currently flaunting a Zacks Rank #1 (Strong Buy), surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average earnings surprise of 12%. The company's shares have surged 115.2% year to date. You can see the complete list of today's Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for HMY’s current-year earnings is pegged at $2.68 per share. HMY carries a Zacks Rank #2 (Buy) at present. The company's shares have soared 148.5% year to date.

The Zacks Consensus Estimate for PALAF’s current-year earnings is pegged at 5 cents per share. PALAF currently carries a Zacks Rank #2. The company's shares have risen 31.7% year to date.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

Paladin Energy Ltd. (PALAF) : Free Stock Analysis Report

Nutrien Ltd. (NTR) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

Assays are still pending for 70 holes from this year’s exploration campaign, of which 55 (representing 79% of the total pending) contain up to 12 occurrences of visible gold to the naked eye (VG-NE); see images and table below.
- Four accompanying infographics are available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/648a0019-0487-4843-9eea-5e385eb74e29 https://www.globenewswire.com/NewsRoom/AttachmentNg/40967cab-ddb9-40b8-b0df-d6eed1fae6ea https://www.globenewswire.com/NewsRoom/AttachmentNg/1eb0838d-5b84-4770-8bf0-86f4d39830cf https://www.globenewswire.com/NewsRoom/AttachmentNg/c6b6c798-36c8-4c07-9e2a-6729c125badc
The high-grade gold-mineralization seen in the Bonanza Zone (a series of stacked veins dipping to the southeast) has been expanded by drilling to 1.25 km along its east-west orientation that remains open for expansion, and to the northwest where Bonanza extends for 580 meters that also remains open for expansion. Continuity of strong gold mineralization (as can be seen in the widespread distribution of VG-NE heat map below), has also been confirmed by drilling in the higher up Surebet Zone (a series of stacked veins dipping to the southwest) that extends for 1.2 km in a southwest-northeast direction and remains open for expansion. Desirable continuity, widths and grades demonstrated by drilling in multiple lodes shows this extensive 1.8 km2 gold system continues to demonstrate strong potential to become one of the most significant gold discoveries in British Columbia’s Golden Triangle in many years. Positive results received to date vector to targets that remain open with excellent expansion potential.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/2115fbc6-cd83-47bd-8421-b3bc417da309

Drill hole GD-25-383 intersected 7.28 g/t Au over 8.00 meters, within 5.85 g/t Au over 10.00 meters. The same interval also includes 9.20 g/t over 5.92 meters as well as 12.75 g/t Au over 4.02 meters, containing multiple occurrences of VG-NE within an Eocene-aged Reduced Intrusion Related Gold (RIRG) dyke that remains open. The intercepts are approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received); see image below.
- An accompanying infographic is available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/cf41605b-483a-4c68-9e04-4e091f0dc7ef
Drill hole GD-25-311 intersected two gold-rich veins, including 15.13 g/t Au over 3 meters from a section of quartz-sulphide veining with multiple occurrences of VG-NE corresponding to the Bonanza Zone that remains open, as well as 2.6 g/t Au over 4.01 meters corresponding to the Surebet Zone that remains open. The intercepts are approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received); see image below.
- Three accompanying infographics are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a1534009-6472-4d37-8de5-cf11e4b4e857 https://www.globenewswire.com/NewsRoom/AttachmentNg/fae6ef9d-3c71-4f33-8972-0353ad39ea14 https://www.globenewswire.com/NewsRoom/AttachmentNg/8a3279ab-b7ba-4577-8e23-d61734fdf4f4
Drill hole GD-25-370 intersected three gold-rich veins in the Bonanza Zone that remains open assayed up to 5.66 g/t Au over 5.05 meters, including 9.24 g/t Au over 3.05 meters from a zone of strong quartz sulphide veining and breccia with numerous occurrences of VG-NE. The intercepts are approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received); see image below.
- Two accompanying infographics are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/982d4f1b-72b9-42ad-8867-295a273b86d7 https://www.globenewswire.com/NewsRoom/AttachmentNg/0341525c-7912-40d3-bfce-bfaa645762c7

Drill hole GD-25-387 intersected 4.05 g/t Au over 6.13 meters, including 5.36 g/t Au over 4.15 meters from a zone containing substantial quartz-sulphide mineralization corresponding to the Bonanza Zone that remains open. The intercepts are approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received); see image below.
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/769b6ea1-9e76-4344-b253-25bfb714c0e9
Drill hole GD-25-385 intersected 6.59 g/t Au over 4 meters, including 8.4 g/t Au over 3.13 meters from a series of quartz-sulphide veins and breccias belonging to the Surebet Zone that remains open. The intercepts are approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received).
Drill hole GD-25-398 intersected two gold rich veins corresponding to the Bonanza Zone that remains open. The first interval assayed 5.41 g/t Au over 4.64 meters within 3.73 g/t Au over 6.77 meters and the second interval assayed 2.68 g/t Au over 3.00 meters. These intercepts are approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received).

Drill hole GD-25-378 intersected two gold rich veins. The first assayed 4.83 g/t Au over 4.54 meters, including 6.28 g/t Au over 3.44 meters part of the Bonanza Zone that remains open where multiple occurrences of VG-NE were observed. The second interval was in the Surebet Zone that remains open that assayed 2.49 g/t Au over 9.12 meters. The intercepts are approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received).
Drill hole GD-25-410 intersected 4.18 g/t Au over 5.14 meters, including 5.28 g/t Au over 4.06 meters in an interval of strong quartz-sulphide mineralization containing multiple occurrences of VG-NE located in the eastern most part of the system which extends the Bonanza Zone to 1.25 km and remains open. The intercepts are approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received).
Drill hole GD-25-356 intersected part of the Bonanza Zone that remains open where multiple occurrences of VG-NE have been observed in an interval that assayed 4.98 g/t over 3.87 meters. The intercepts are approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received).
Drill hole GD-25-376 intersected 4.32 g/t Au over 4.2 meters, including 5.47 g/t Au over 3.2 meters corresponding to the Surebet Zone that remains open where multiple occurrences of VG-NE were observed, as well as 3.55 g/t Au over 3.93 meters corresponding to the Bonanza Zone that remains open. The intercepts are approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received).
High-grade gold has been identified in three distinct rock packages discovered to date at the Surebet Discovery. This includes the gently dipping gold-rich stacked quartz-sulphide breccias/stockwork veins; the gold-rich intermediate to felsic Eocene-aged Reduced Intrusive Related Gold (RIRG) dykes; and the recently discovered broad gold-rich zones of calc-silicate altered breccia. All mineralized rock types contain substantial amounts of VG-NE (from fine-grained to coarse-grained gold) and remain open for expansion. This confirms the presence of a Motherlode magmatic source at depth, a causative intrusion responsible for the extensive 1.8 km2 high-grade gold system at Surebet.
The recently completed 2025 drill campaign significantly exceeded the initial plans of 40,000 meters for a total of 64,364 meters of systematic drilling with 9 drill rigs. 100% of the drilling was focused on the Surebet Discovery, where the Company designed a detailed campaign that tested for the Motherlode intrusive gold source, the mineralized RIRG Eocene-aged dykes, infill drilling within the known stacked veins, as well as expanding the known mineralized veins laterally and to depth.
100% of the drill holes completed to date on Surebet have intersected substantial quartz-sulphide mineralization. VG-NE was observed in 83 drill holes out of 110 (or 76%) completed in 2025. 92% of the holes (355 out of 386) drilled to date at the Surebet Discovery contain VG-NE (see heat map below).
- An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/2c6f1ddb-2fa2-4f6c-8841-a483b7e87fc9
The Surebet Discovery has widespread drill holes representing more than 600 pierce points over an area of 1.8 km2 within 12 gold-mineralized veins, returning high metal values showing it has the potential to become one of the most significant gold discoveries in British Columbia’s Golden Triangle in many years.

TORONTO, Dec. 02, 2025 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to announce 10 additional assay results from its 2025 drill program where drill hole GD-25-383 intersected 7.28 g/t Au over 8.00 meters, within 5.85 g/t Au over 10.00 meters in Eocene-aged granitoid dyke. The same interval also includes 9.20 g/t over 5.92 meters as well as 12.75 g/t Au over 4.02 meters, containing multiple occurrences of VG-NE that remains open at the Surebet Discovery on its 100% controlled Golddigger Property (the “Property”), Golden Triangle, British Columbia. Assays are still pending for 70 holes from this year’s exploration campaign, of which 55 (representing 79% of the pending holes) contain up to 12 occurrences of VG-NE; see images above and table below.

The high-grade gold-mineralization seen in the Bonanza Zone has been expanded by drilling to 1.25 km along its east-west orientation that remains open for expansion, and also to the northwest where Bonanza extends for 580 meters and remains open for expansion. Continuity of strong gold mineralization has also been confirmed by drilling in the higher up Surebet Zone that extends for 1.2 km in a southwest-northeast direction and remains open for expansion. The continuity, widths and grades demonstrated by drilling in multiple lodes shows this extensive 1.8 km2 gold system continues to demonstrate strong potential to become one of the most significant gold discoveries in British Columbia’s Golden Triangle in many years. The strong results received to date vector to targets that remain open with excellent expansion potential.

The strong gold-mineralization in the Bonanza Zone has been expanded in the third dimension to 1.25 km along its east-west orientation, while the northwest extent of 580 meters has been confirmed with additional drill holes in the third dimension and remains open, the series of stacked veins (at the Bonanza Zone and Surebet Zone) has a vertical relief of 800 meters and contains widespread VG-NE. Continuity of strong gold mineralization has been confirmed in the Surebet Zone that extends for 1.2 km in a southwest-northeast direction and remains open. The continued extent, continuity and grade of mineralization in the Surebet System shows it has the potential to become one of the most significant gold discoveries in British Columbia’s Golden Triangle in many years, providing for strong expansion potential in 2026. Remaining drill results from the 2025 drill season have the potential to provide desirable widths, grades and continuity observed thus far.

100% of the drill holes completed to date on Surebet have intersected substantial quartz-sulphide mineralization as well as 83 of the 110 drill holes (or 76%) from 2025 contain gold visible to the naked eye (VG-NE) clearly demonstrating the discovery potential remaining on the property.

Dr. Quinton Hennigh, Geologic & Technical Advisor to Crescat Capital, a strategic investor in Goliath, states: “With every newly reported gold intercept, the picture that is emerging at Goliath’s Surebet project is continually being enhanced with respect to both consistency and scale of this remarkable quartz-sulfide lode system. Over and over, we are seeing strong gold grades across stout lode thickness, commonly exceeding 4 meters true width. This bodes well for potentially employing bulk, cost effective mining techniques. Also important, given that the Surebet gold system is comprised of a network of stacked quartz-sulfide lodes, tonnages can build up quickly with these sorts of lode thicknesses. Updated models of the Surebet lode network such as those presented in this news release illustrate this potential quite well. The 2025 drill program continues to strengthen the Surebet story in every respect.”

Mr. Roger Rosmus, Founder & CEO of Goliath states: ““The Surebet discovery is rapidly emerging as a high-grade gold system in the Golden Triangle. As can be seen by the widespread VG-NE over a vast area, contained within a series of stacked, gently dipping veins that remain open and are expanding with every drill hole. One series of stacked veins in the Surebet Zone dip in the southwest direction, while the series of stacked veins at the Bonanza Zone dip in the southeast direction. Which opens up the possibility that they are coming from two separate sources approximately 4,000 metres, or more, apart. Additionally, the vertical RIRG Eocene-aged dykes could be coming off a large magma chamber underlying the entire gold mineralizing system. In future drilling we need to continue following the Surebet Zone stacked veins to the southwest and the Bonanza Zone to the southeast, plus explore deeper for the magmatic source to determine if there are more than one source or one common source. What we have discovered through drilling, so far, is located within a mountain and as we follow the high-grade gold system deeper we can drill from the valley floor to drill for the source of the stacked gently dipping veins and vertical RIRG Eocene-aged dykes. Another exciting element is that at the top of the mountain the VG-NE is fine-grained and sporadic, it then quickly transitions into abundant fine-grained VG-NE, then deeper transitions into coarse-grained and abundant VG-NE. Which helps us to follow the system deeper for the source to assess the abundance of coarse-grained VG-NE. More work is needed to expand toward the limits of the various zones, but our team couldn’t be more enthusiastic with what we have found which is emerging as a rare high-grade gold discovery. Once we have all the assays from this year’s campaign, we will continue to update our 3D models along with advanced analysis at the Colorado School of Mines. We believe the Surebet discovery continues to demonstrate it’s quickly becoming one of the most significant high-grade gold discoveries in British Columbia’s Golden Triangle in many years.”

Drill hole GD-25-383 intersected 7.28 g/t Au over 8.00 meters, within 5.85 g/t Au over 10.00 meters. The same interval also includes 9.20 g/t over 5.92 meters as well as 12.75 g/t Au over 4.02 meters, containing multiple occurrences of VG-NE within an Eocene-aged Reduced Intrusion Related Gold (RIRG) dyke that remains open. Drill hole GD-25-311 intersected multiple gold-rich veins, including 15.13 g/t Au over 3 meters from a section of quartz-sulphide veining with multiple occurrences of VG-NE corresponding to the Bonanza Zone that remains open, as well as 2.6 g/t Au over 4.01 meters corresponding to the Surebet Zone that remains open. Drill hole GD-25-370 intersected the Bonanza Zone that remains open in an interval that assayed 5.66 g/t Au over 5.05 meters, including 9.24 g/t Au over 3.05 meters from a zone of strong quartz sulphide veining and breccia with numerous occurrences of VG-NE. Drill hole GD-25-387 intersected 4.05 g/t Au over 6.13 meters, including 5.36 g/t Au over 4.15 meters from a zone containing substantial quartz-sulphide mineralization corresponding to the Bonanza Zone that remains open. Drill hole GD-25-385 intersected 6.59 g/t Au over 4 meters, including 8.4 g/t Au over 3.13 meters from a series of quartz-sulphide veins and breccias belonging to the Surebet Zone that remains open. Drill hole GD-25-398 intersected mineralization corresponding to the Bonanza Zone that remains open in an interval that assayed 5.41 g/t Au over 4.64 meters within 3.73 g/t Au over 6.77 meters. An additional interval of Bonanza Zone mineralization assayed 2.68 g/t Au over 3.00 meters. Drill hole GD-25-378 intersected 4.83 g/t Au over 4.54 meters, including 6.28 g/t Au over 3.44 meters part of the Bonanza Zone that remains open where multiple occurrences of VG-NE were noted. Additionally, gold mineralization was also intercepted in an interval of the Surebet Zone that remains open and assayed 2.49 g/t Au over 9.12 meters. Drill hole GD-25-410 intersected 4.18 g/t Au over 5.14 meters, including 5.28 g/t Au over 4.06 meters in an interval of strong quartz-sulphide mineralization containing multiple occurrences of VG-NE located in the easternmost part of the system which extends the Bonanza Zone to 1.25 km and remains open. Drill hole GD-25-356 intersected part of the Bonanza Zone that remains open where multiple occurrences of VG-NE have been observed in an interval that assayed 4.98 g/t over 3.87 meters. Drill hole GD-25-376 intersected 4.32 g/t Au over 4.2 meters including 5.47 g/t Au over 3.2 meters corresponding to the Surebet Zone that remains open where multiple occurrences of VG-NE were observed, as well as 3.55 g/t Au over 3.93 meters corresponding to the Bonanza Zone that remains open.

All intercepts are approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received). The gold grades, coupled with VG-NE within substantial quartz-sulphide veins, stockworks, and breccias, which are mineralized with sphalerite, pyrrhotite, and chalcopyrite, highlight the potential for further expansion.

Table 1: Collar information for VG-NE drill holes reported in this news release.

Hole ID	CRS	Easting	Northing	Elevation (m)	Azimuth	Dip	Length (m)	Number of VG-NE occurrences
GD-25-102	NAD83 UTM 9N	457699	6162437	1133	230	65	214	5
GD-25-244	NAD83 UTM 9N	457381	6162945	1623	165	80	745	1
GD-25-254	NAD83 UTM 9N	457256	6162711	1474	110	74	828	2
GD-25-267	NAD83 UTM 9N	457938	6162554	1137	195	60	450	1
GD-25-301	NAD83 UTM 9N	457445	6162773	1513	168	58	702	2
GD-25-303	NAD83 UTM 9N	457364	6162754	1508	157	61	676	5
GD-25-305	NAD83 UTM 9N	457447	6162774	1513	155	54	687	2
GD-25-306	NAD83 UTM 9N	457214	6162332	1220	342	58.5	346	4
GD-25-308	NAD83 UTM 9N	457364	6162756	1509	160	67	705	4
GD-25-310	NAD83 UTM 9N	457214	6162332	1219	28	62	509	1
GD-25-312	NAD83 UTM 9N	457365	6162756	1509	150	71	681	5
GD-25-315	NAD83 UTM 9N	457218	6162331	1219	63	63	486	1
GD-25-316	NAD83 UTM 9N	456927	6163020	1651	150	76	723	5
GD-25-319	NAD83 UTM 9N	457365	6162754	1505	141	62	629	3
GD-25-322	NAD83 UTM 9N	457214	6162332	1219	250	70	594	2
GD-25-323	NAD83 UTM 9N	456927	6163020	1652	90	80	620	5
GD-25-325	NAD83 UTM 9N	457365	6162755	1509	128	88	669	3
GD-25-326	NAD83 UTM 9N	457236	6162867	1586	23	80	734	2
GD-25-327	NAD83 UTM 9N	457016	6162593	1388	5	65	459	1
GD-25-329	NAD83 UTM 9N	457444	6162778	1515	330	80	685	1
GD-25-330	NAD83 UTM 9N	457326	6162856	1582	206	73	681	1
GD-25-331	NAD83 UTM 9N	457815	6162506	1144	194	83	360	2
GD-25-333	NAD83 UTM 9N	457365	6162757	1509	127	71	798	4
GD-25-335	NAD83 UTM 9N	457015	6162587	1387	180	60	498	3
GD-25-336	NAD83 UTM 9N	456710	6162961	1639	315	75	606	1
GD-25-339	NAD83 UTM 9N	457236	6162865	1586	120	70	792	3
GD-25-341	NAD83 UTM 9N	456927	6163020	1652	310	75	615	1
GD-25-342	NAD83 UTM 9N	457815	6162511	1146	335.5	70	350	2
GD-25-344	NAD83 UTM 9N	457319	6162857	1585	265	77	705	1
GD-25-348	NAD83 UTM 9N	457413	6163252	1733	115	65	1001	1
GD-25-349	NAD83 UTM 9N	457817	6162512	1145	50	65	756	2
GD-25-351	NAD83 UTM 9N	457235	6162738	1489	170	57	723	4
GD-25-352	NAD83 UTM 9N	457038	6162952	1604	42	76	847	3
GD-25-357	NAD83 UTM 9N	456865	6162628	1451	135	65	525	1
GD-25-361	NAD83 UTM 9N	457191	6163128	1712	160	85	699	2
GD-25-363	NAD83 UTM 9N	457411	6163251	1733	175	68	901	1
GD-25-366	NAD83 UTM 9N	457399	6162901	1606	210.5	69	705	5
GD-25-367	NAD83 UTM 9N	457235	6162864	1585	213	74	651	11
GD-25-368	NAD83 UTM 9N	457485	6163165	1706	250	77	690	2
GD-25-369	NAD83 UTM 9N	457319	6162859	1585	310	85	738	1
GD-25-371	NAD83 UTM 9N	457190	6163130	1712	40	86	681	1
GD-25-375	NAD83 UTM 9N	457486	6163164	1706	250	85	747	1
GD-25-379	NAD83 UTM 9N	457189	6163129	1712	268	85	614	1
GD-25-381	NAD83 UTM 9N	457511	6163074	1660	115	65.9	360	1
GD-25-382	NAD83 UTM 9N	457591	6162372	1119	215	45	160	1
GD-25-386	NAD83 UTM 9N	457512	6163073	1660	129	56	459	3
GD-25-389	NAD83 UTM 9N	457849	6162680	1209	170	70	483	1
GD-25-392	NAD83 UTM 9N	457757	6162595	1200	280	55	423	1
GD-25-393	NAD83 UTM 9N	457322	6162859	1585	5	68	702	2
GD-25-395	NAD83 UTM 9N	457402	6162902	1606	105	65	801	1
GD-25-400	NAD83 UTM 9N	457598	6162374	1119	147	83	309	2
GD-25-401	NAD83 UTM 9N	457881	6162620	1179	210	80	600	1
GD-25-403	NAD83 UTM 9N	457467	6163017	1633	147	83	600	3
GD-25-405	NAD83 UTM 9N	457763	6162595	1200	82	74.5	312	5
GD-25-407	NAD83 UTM 9N	457399	6162904	1608	350	82	395	2

Table 2: Assay highlights from 2025 drill holes reported in this news release.

Hole ID		From (m)	To (m)	Interval (m)	Au (g/t)
GD-25-383	Interval	417.00	432.00	15.00	4.05
	including	417.00	427.00	10.00	5.85
	including	417.00	425.00	8.00	7.28
	including	418.10	424.02	5.92	9.20
	including	420.00	424.02	4.02	12.75
GD-25-311	Interval	277.97	282.00	4.03	2.83
	including	277.97	281.02	3.05	3.15
	including	361.09	365.10	4.01	2.60
	Interval	580.00	583.00	3.00	15.13
GD-25-370	Interval	313.00	316.00	3.00	4.94
	Interval	319.00	324.05	5.05	5.66
	including	321.00	324.05	3.05	9.24
	Interval	445.00	449.00	4.00	2.04
GD-25-387	Interval	76.00	85.20	9.20	2.91
	including	77.02	84.32	7.30	3.66
	including	77.02	83.15	6.13	4.05
	including	79.00	83.15	4.15	5.36
	including	80.00	83.15	3.15	6.36
GD-25-385	Interval	138.00	141.00	3.00	3.59
	Interval	257.00	261.00	4.00	6.59
	including	257.00	260.13	3.13	8.40
GD-25-398	Interval	73.30	80.07	6.77	3.73
	including	74.39	79.03	4.64	5.41
	Interval	132.00	135.00	3.00	2.68
GD-25-378	Interval	583.95	593.07	9.12	2.49
	including	587.56	592.10	4.54	4.83
	including	587.56	591.00	3.44	6.28
GD-25-410	Interval	183.32	188.46	5.14	4.18
GD-25-410	including	183.32	187.38	4.06	5.28
GD-25-356	Interval	522.13	526.00	3.87	4.98
GD-25-376	Interval	388.00	391.93	3.93	3.55
	Interval	252.05	258.00	5.95	3.06
	Including	252.80	257.00	4.20	4.32
	Including	252.80	256.00	3.20	5.47

High-grade gold mineralization has been confirmed in three distinct rock packages at the Surebet Discovery, which include: gently dipping gold-rich mineralized stacked quartz-sulphide breccias/stock work veins; gold-rich intermediate to felsic Eocene-aged RIRG dykes that crosscut the veins; and the broad zones of calc-silicate altered breccia. All three rock packages contain substantial amounts of VG-NE (from fine-grained to coarse-grained gold) and remain open. Which strongly indicates the presence of a Motherlode magmatic causative source at depth responsible for the widespread high-grade gold mineralization at the Surebet Discovery.

Table 3: Collar information for drill holes reported in this news release.

Hole ID	CRS	Northing (m)	Easting (m)	Elevation (m)	Azimuth (deg)	Dip (deg)	Length (m)
GD-25-410	NAD83 / UTM zone 9N	6162659	457976	1174	23	66	216
GD-25-398	NAD83 / UTM zone 9N	6162373	457596	1119	140	50	273
GD-25-387	NAD83 / UTM zone 9N	6162372	457594	1119	190	70	408
GD-25-385	NAD83 / UTM zone 9N	6163163	457488	1705	140	70	504
GD-25-383	NAD83 / UTM zone 9N	6162902	457401	1607	147	66	828
GD-25-378	NAD83 / UTM zone 9N	6163019	457465	1634	260	85	603
GD-25-376	NAD83 / UTM zone 9N	6162864	457235	1585	217	81	640
GD-25-370	NAD83 / UTM zone 9N	6162741	457231	1488	275	65	477
GD-25-356	NAD83 / UTM zone 9N	6162865	457235	1586	181	71	643
GD-25-311	NAD83 / UTM zone 9N	6162775	457446	1514	143	65	810

The 2025 drill consisted of 64,364 meters of systematic drilling with 9 drill rigs. The campaign was aimed at expanding the geometry of the Surebet Discovery laterally and to depth. 100% of the drilling was focused on the Surebet Discovery. The Company designed a detailed drill plan that consisted of: testing for the Motherlode Magmatic intrusive gold source; testing an additional 13 Eocene-aged dykes observed on the surface that had never been drill tested for RIRG mineralization; infill drilling with the goal of increasing pierce points density in all known stacked veins. With a particular focus on the highest-grade areas from the Bonanza Zone and Surebet Zone intersection domain; testing zones where the RIRG dykes and gently dipping veins crosscut which are being called Goldilocks Zones (as they are key locations where there are two styles of gold mineralization enriching the zones) and expanding the known mineralized veins laterally and to depth where they currently remain open.

Surebet Discovery Highlights

83 out of 110 holes (or 76%) drilled in 2025 contain VG-NE and 100% of drill holes have intersected substantial quartz-sulphide mineralization. Assays are still pending for 70 holes from this year’s exploration campaign, of which 55 (representing 79% of the total pending) contain up to 12 occurrences of visible gold to the naked eye VG-NE. See news releases dated: November 17, 2025, October 27, 2025, September 22, 2025, September 8, 2025, August 26, 2025, and July 28, 2025.
60 out of 64 holes (or 94%) drilled in 2024 contain VG-NE up to 11.5 mm (7/16 inches) in size, all of which returned high-grade gold.
92% of the holes (355 out of 386) drilled to date at Surebet contain VG-NE (see heat map above).
The best hole drilled to date is GD-24-260 previously reported from the Bonanza Zone assayed 34.52 g/t AuEq (34.47 Au and 3.96 Ag) over 39.00 meters, including 132.93 g/t AuEq (132.78 Au and 12.98 Ag) over 10.00 meters, and 166.04 g/t AuEq (165.84 Au and 16.07 Ag) over 8.00 meters (see news release dated January 13, 2025). More details on the QA/QC protocol can be found in the section titled “QA/QC Protocol” below.
The best hole drilled to date from the RIRG Eocene-aged dykes is GD-22-58 that assayed 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 meters including 19.91 g/t AuEq (19.62 g/t Au and 25.61 g/t Ag) over 6.00 meters, including 23.82 g/t AuEq (23.47 g/t Au and 30.54 g/t Ag) over 5.00 meters, plus a second separate interval down hole of 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters (see news release dated March 13, 2025). ). More details on the QA/QC protocol can be found in the section titled “QA/QC Protocol” below.
The best hole drilled to date from the calc-silicate altered breccia is drill hole GD-25-337, which intersected 10.60 g/t Au over 22.82 meters, including 15.19 g/t Au over 15.71 meters, including two separate intervals consisting of 37.28 g/t Au or 1.20 oz/t Au over 3.36 meters and 36.11 or 1.16 oz/t Au over 3.08 meters. The intercept is approximately true width, and these assays reflect gold only (AuEq value in the interval will be adjusted accordingly once Ag, Cu, Pb and Zn are received). More details on the QA/QC protocol can be found in the section titled “QA/QC Protocol” below.
Multiple gently dipping gold-mineralized stacked veins have been identified every year on the Surebet high-grade gold discovery. Recent discoveries include RIRG Eocene-aged dykes, Goldilocks Zones where the veins and vertical RIRG dykes crosscut (which are characterized by having high-grade gold in two temperature regimes) and recently discovered high-grade gold in a third distinct rock package, which increases potential tonnage and gold content of the high-grade gold system at the Surebet Discovery.
A total of 12 stacked gently dipping high-grade gold veins extend for 1.2 kilometers at the Surebet discovery, have been enhanced by four high-grade RIRG Eocene-aged dykes that are up to 25 meters wide and exposed along strike at surface for up to 1,500 meters have been discovered and modelled to date (see news release dated June 23, 2025).

The footprint of the mineralization discovered to date at Surebet is 1.8 km2 and remains open in all directions.
Thanks to the mountainous topography, mineralization in the veins is exposed on the surface for 2.1 km of strike (1.0 km on the south slope and 1.1 km on the north slope) with a vertical relief of 700 meters.
A study completed by the Colorado School of Mines confirms a new interpretation of the ore forming process of high-grade gold mineralization at Surebet and outlines a common magmatic source for the high-grade gold system, now in three distinct rock packages. Which gives the Surebet untapped discovery potential to increase tonnage and gold content in the various known rock packages. Until this study, researchers and explorers in the Golden Triangle had not recognized the high-grade gold discovery potential in the Eocene-aged RIRG dykes (see news release March 13, 2025), which is showing the potential that these discoveries could be a geological breakthrough in the Golden Triangle of British Columbia.
Goliath has drilled over 156,000 meters with over 600 pierce points in the Surebet Discovery located at the Golddigger property between 2021 and 2025.
The Surebet Discovery has predictable continuity and good metallurgy with gold recoveries of 92.2% from gravity and flotation at a 327-micrometer crush including 48.8% free gold recovery from gravity alone (no cyanide required to recover the gold). The metallurgy completed to date shows a benign rock composition without deleterious elements (see news release March 1, 2023).
Based on positive grassroots exploration and drill results in recent years, Goliath significantly increased its land package from 66,608 hectares to 91,518 hectares (226,146 acres) and now controls 56 kilometers of key terrain of the Red Line geologic trend providing for additional discovery potential.
The Golddigger Property is located on tidewater with a barge route to Prince Rupert (190 km south) and close to infrastructure including the town of Kitsault adjacent to a permitted mine site on private property.

About Golddigger Property

About CASERM (Center to Advance the Science of Exploration to Reclamation in Mining)

Goliath Resources is a paying member and active supporter of the Center to Advance the Science of Exploration to Reclamation in Mining (CASERM), which is one of the world’s largest research centers in the mining sector. CASERM is a collaborative research venture between Colorado School of Mines and Virginia Tech that is supported by a consortium of mining and exploration companies, analytical instrumentation and software companies, and federal agencies aiming to transform the way geoscience data is acquired and used across the mining value chain. The center forms part of the I-UCRC program of the National Science Foundation. Research focuses on the integration of diverse geoscience data to improve decision making across the mine life cycle, beginning with the exploration for subsurface resources continuing through mine operation as well as closure and environmental remediation. Over the past three years, Goliath Resources’ membership in CASERM has allowed a high level of research to be performed on the Surebet Discovery.

Qualified Person

About Goliath Resources Limited

Goliath Resources is an explorer of precious metals projects in the highly prospective Golden Triangle of Northwestern British Columbia. All of its projects are in high quality geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization that represents a collaborative venture between Colorado School of Mines and Virginia Tech. Goliath recently completed its largest fully funded drill campaign to date for a total of 64,364 meters in 2025 and is fully funded for a large (40k – 50k meter) drill program in 2026. The Company’s key strategic cornerstone shareholders include Crescat Capital, a Global Commodity Group (Singapore), McEwen Inc. (NYSE: MUX) (TSX: MUX), Waratah Capital Advisors, Mr. Rob McEwen, Mr. Eric Sprott and Mr. Larry Childress.

For more information please contact:

Goliath Resources Limited Mr. Roger Rosmus Founder and CEO Tel: +1.416.488.2887roger@goliathresources.com www.goliathresourcesltd.com

QA/QC Protocol & Disclaimer

All samples are transported in rice bags sealed with numbered security tags. The rice bags are transported from the core shacks to the MSALABS facilities in Terrace, BC. MSALABS is certified with both AC89-IAS and ISO/IEC Standard 17025:2017. The core samples undergo preparation via drying, crushing to ~70% of the material passing a 2 mm sieve and riffle splitting. The sample splits are weighed and transferred into three plastic jars, each containing between 300 g and 500 g of crushed sample material. A 250 g split is pulverized to ensure at least 85% of the material passes through a 75 µm sieve. The crushed samples are transported to the MSALABS PhotonAssayTM facility in Prince George, where gold concentrations are quantified via photon assay analysis (method CPA-Au1). Samples that result in gold concentrations ≥5 ppm are analyzed to extinction. Photon assay uses high-energy X-rays (photons) to excite atomic nuclei within the jarred samples, inducing the emission of secondary gamma rays, which are measured to quantify gold concentrations. The assays from all jars are combined on a weight-averaged basis. Multielement analyses are carried at the MSALABS facilities in Surrey, BC, where 250 g of pulverized splits are analyzed via ICF6xx and IMS-230 methods. The IMS-230 method uses 4-acid digestion (a combination of hydrochloric, nitric, perchloric and hydrofluoric acids) followed by inductively coupled plasma emission spectrometry to quantify concentrations of 48 elements. Samples with over-limit results for Ag, Cu, Pb and Zn undergo ore-grade analysis via the ICF-6xx method (where ‘xx’ denotes the target metal). This method employs 4-acid digestion followed by inductively coupled plasma emission spectrometry.

Nutrien Ltd. NTR is gaining from healthy demand for crop nutrients, its actions to reduce costs and strategic acquisitions. Higher fertilizer prices are providing further support. However, exposure to volatile input costs and supply tightness could pressure margins.The NTR stock has gained 21.8% over the past year, compared with the Zacks Fertilizers industry’s 4.2% rise.

Image Source: Zacks Investment Research

Let’s find out why NTR stock is worth retaining at the moment.

Healthy Demand, Acquisitions & Cost Cuts Aid NTR Stock

Nutrien is well-placed to benefit from higher demand for fertilizers, backed by the strength in global agriculture markets. It is seeing healthy fertilizer demand in its major markets. Tight inventories are expected to support crop commodity prices in 2025. Strong demand and supply tightness have also led to an uptick in fertilizer prices this year. Favorable farmer economics, improved affordability and low inventory levels are expected to drive potash demand globally. The phosphate market is also supported by low producer and channel inventories. Restricted exports from China have also led to supply tightness in this market. Demand for nitrogen fertilizer also remains healthy in major markets. Global nitrogen requirement is driven by demand in North America, India and Brazil. A resurgence in industrial nitrogen demand also bodes well. The company expects record crop production prospects in the United States and sees strong demand for crop inputs. NTR saw record potash sales volumes in the first nine months of 2025, driven by favorable potash affordability and robust consumption in North America and major offshore markets. Third-quarter volumes also rose due to strong demand in North America and offshore. NTR has raised potash sales volume guidance for 2025 to 14-14.5 million tons, driven by anticipated higher global demand.NTR should also gain from acquisitions and increased adoption of its digital platform. It continues to expand its footprint in Brazil through acquisitions. It is expected to continue pursuing targeted opportunities in its core markets. The company expects to utilize part of its free cash flow for incremental growth investments, including tuck-in acquisitions in the retail business in 2025.Cost and operational efficiency initiatives are also expected to aid the company’s performance. NTR remains focused on lowering the cost of production in the potash business. It has announced several strategic actions to reduce its controllable costs and boost free cash flow. NTR has accelerated operational efficiency and cost savings initiatives, and anticipates achieving around $200 million of total savings in 2025. The company is ahead of schedule on this cost-reduction goal.

Nutrien Exposed to Input Cost Volatility

Nutrien uses sulfur and natural gas as key inputs. Supply disruptions from Russia amid the war with Ukraine contributed to the rise in natural gas prices. Plant shutdowns and maintenance also resulted in a tight supply of these inputs, which, coupled with strong demand, pushed up their prices. The company saw higher sulfur input costs and natural gas prices in the third quarter, leading to a higher cost of goods sold per ton in phosphate and nitrogen businesses, respectively. The company remains exposed to a volatile input cost environment amid supply tightness.

NTR’s Zacks Rank & Other Key Picks

NTR currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the Basic Materials space are Kinross Gold Corporation KGC, Fortuna Mining Corp. FSM and Harmony Gold Mining Company Limited HMY. At present, KGC sports a Zacks Rank #1 (Strong Buy), while FSM and HMY carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Kinross Gold’s current-year earnings is pegged at $1.65 per share, indicating a year-over-year rise of 142.7%. KGC’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, with an average surprise of 17.4%. The Zacks Consensus Estimate for FSM’s current fiscal-year earnings stands at 83 cents per share, reflecting an 80.4% year-over-year increase. FSM’s shares have surged 123% in the past year.The Zacks Consensus Estimate for HMY’s fiscal 2026 earnings is pegged at $2.68 per share, indicating a rise of 111% from the year-ago levels. HMY’s shares have rallied roughly 120% in the past year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Kinross Gold Corporation (KGC) : Free Stock Analysis Report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

Fortuna Mining Corp. (FSM) : Free Stock Analysis Report

Nutrien Ltd. (NTR) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

BASF SE BASFY recently announced that it will offer licensing of its state-of-the-art polytetrahydrofuran (PolyTHF) 1800 production technology to clients and partners. BASF, being one of the leaders in the development of this technology, has three PolyTHF production assets globally. They are located in Caojing, China; Ludwigshafen, Germany; and Geismar, the United States.

The licensing aims to create significant value, not just for the company, but for its clients and partners too. The attractive proposition gives them access to innovation and R&D at lower costs and shortens delivery time.

BASFY’s proprietary PolyTHF technology is widely used in a range of textiles, including swimwear, sportswear, underwear, shirts and stretch jeans for its elastic spandex and elastane fibers.

The licensing will strengthen the company’s ties with its long-standing partners by unlocking value for them. Given the usefulness of the proprietary technology, the partners and BASFY will be able to nurture innovation and reshape the textile market.

The company’s shares have gained 19.5% over the past year against the industry’s 22.9% decline.

Image Source: Zacks Investment Research

BASFY’s Zacks Rank & Key Picks

BASFY currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Basic Materials space are Kinross Gold Corporation KGC, Fortuna Mining Corp. FSM and Harmony Gold Mining Company Limited HMY. At present, KGC sports a Zacks Rank #1 (Strong Buy), while FSM and HMY carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for KGC’s current-year earnings is pegged at $1.63 per share, indicating a rise of 139.71%. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, with an average surprise of 17.37%. KGC’s shares have risen 184.8% in the past year.

The Zacks Consensus Estimate for FSM’s current fiscal-year earnings stands at 83 cents per share.Its shares have surged 104.2% in the past year.

The Zacks Consensus Estimate for HMY’s 2026 earnings is pegged at $2.66 per share, indicating a rise of 112% from year-ago levels. HMY’s shares have gained 109.9% in the past year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Kinross Gold Corporation (KGC) : Free Stock Analysis Report

BASF SE (BASFY) : Free Stock Analysis Report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

Fortuna Mining Corp. (FSM) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

Barrick Mining Corporation B successfully completed its divestiture of the Hemlo Gold Mine in Canada to Carcetti Capital Corp. The consideration totaled $1.09 billion, including $875 million in cash, $50 million in HMC shares and a production and tiered gold price-linked cash payment structure of up to $165 million. While the cash and shares were received on closing, the structured payment arrangement will begin in January 2027 for a five-year term.

On the recent completion of the divestiture of the Alturas Project in Chile to Boroo Pte. Ltd, the company received an upfront cash payment of $50 million. Barrick has also been granted 0.5% net smelter return royalty on gold and silver produced from the Project as a part of the transaction. It will terminate once 2 million ounces of gold and gold-equivalent have been produced, with Boroo having the option to repurchase the royalty within four years from closing for $10 million.

In line with the expectations, the Hemlo deal was concluded within the fourth quarter of 2025. The proceeds from the divestitures will now be beneficial in strengthening the balance sheet and returning capital to its shareholders.

Hemlo, which produced 143,000 ounces of gold last year, was Barrick’s last operating mine in Canada, a key region for Barrick. With the closure of its operations with Hemlo, Barrick plans to unlock upcoming opportunities in the region through a number of early-stage projects and exploration targets. The divestment enables Barrick to access opportunities and operate world-class gold and copper mines in the country.

B’s shares have gained 138.5% over the past year against the industry’s 110% rise.

Zacks Investment Research

Image Source: Zacks Investment Research

B’s Zacks Rank & Key Picks

Barrick currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Basic Materials space areKinross Gold Corporation KGC, Fortuna Mining Corp. FSM and Harmony Gold Mining Company Limited HMY. At present, KGC sports a Zacks Rank #1 (Strong Buy), while FSM and HMY carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for FSM’s current fiscal-year earnings stands at 83 cents per share.Its shares have surged 102.9% in the past year.

The Zacks Consensus Estimate for HMY’s 2026 earnings is pegged at $2.66 per share, indicating a rise of 109.45% from year-ago levels. HMY’s shares have gained 109.9% in the past year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Kinross Gold Corporation (KGC) : Free Stock Analysis Report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

Barrick Mining Corporation (B) : Free Stock Analysis Report

Fortuna Mining Corp. (FSM) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

BASF SE BASFY recently announced the scale-up in India with its Ultradur specialty grades, like flame-retardant and hydrolysis-resistant, now available in the country. This underlined BASFY’s commitment to delivering high-performing engineered plastics globally, tailored needs according to each local market.

The action was in response to higher demands and further enabled faster deliveries, improved supply reliability and greater flexibility for customers across India. The localized supply of Ultradur is aimed at serving Indian customers in a swift manner with a higher focus on innovation and industrial growth. Ultradur’s exceptional performance pairs dimensional stability with mechanical strength, making it suitable for precision components.

The flame retardancy and durability are enhanced with rigidity, resistance to heat, chemicals and weathering. Its low moisture absorption and ease of processing also make Ultradur a preferred material for electric vehicles, connectors, electronics and industrial applications.

BASFY’s shares have gained 19.2% over the past year against the industry’s 25.5% decline.

Zacks Investment Research

Image Source: Zacks Investment Research

BASFY’s Zacks Rank & Key Picks

BASFY currently carries a Zacks Rank #3 (Hold).

The Zacks Consensus Estimate for FSM’s current fiscal-year earnings stands at 83 cents per share.Its shares have surged 87.4% in the past year.

The Zacks Consensus Estimate for HMY’s 2026 earnings is pegged at $2.66 per share, indicating a rise of 109.45% from year-ago levels. HMY’s shares have gained 93.6% in the past year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Kinross Gold Corporation (KGC) : Free Stock Analysis Report

BASF SE (BASFY) : Free Stock Analysis Report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

Fortuna Mining Corp. (FSM) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

Stepan Company SCL recently announced the completion of the sale of its subsidiary Stepan Philippines Quaternaries, Inc. (“SPQI”), manufacturing assets located in Bauan, Batangas, Philippines. The assets were sold to Masurf, Inc., a subsidiary of Musim Mas Holdings Pte. Ltd.

The transaction was arranged in line with SPQI’s previously announced Asset Transfer Agreement that outlined its commitment to strategic priorities. The closing also entails SPQI entering into a tolling agreement with Masurf for the continued service of SPQI customers in Southeast Asia.

The closing of the transaction enables Stepan to sharpen the focus on core operations, positioning it for higher success in the future. The new tolling transaction will complement its existing global manufacturing network by ensuring uninterrupted service and growth opportunities for customers in Southeast Asia.

Although the terms of the transaction have not been out, the company expressed its confidence in SPQI’s thriving performance under Masurf’s stewardship and through the dedicated contributions of the Philippines team.

SCL’s shares have plunged 40.7% over the past year compared with the industry’s 25.5% decline.

Zacks Investment Research

Image Source: Zacks Investment Research

SCL’s Zacks Rank & Key Picks

SCL currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Basic Materials space areKinross Gold Corporation KGC, Fortuna Mining Corp. FSM and Harmony Gold Mining Company Limited HMY. At present, KGC sports a Zacks Rank #1 (Strong Buy), while FSM and HMY carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for FSM’s current fiscal-year earnings stands at 83 cents per share.Its shares have surged 87.4% in the past year.

The Zacks Consensus Estimate for HMY’s 2026 earnings is pegged at $2.66 per share, indicating a rise of 109.45% from year-ago levels. HMY’s shares have gained 93.6% in the past year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Kinross Gold Corporation (KGC) : Free Stock Analysis Report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

Fortuna Mining Corp. (FSM) : Free Stock Analysis Report

Stepan Company (SCL) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

Lupaka Gold Corp. (LPK.V) on Thursday said although the company fully expects the Republic of Peru to honour their obligations under the ICSID Convention and pay an recently issued award, it is taking immediate steps to collect the award proceeds.

In this regard, Lupaka in a statement said it has engaged an investigative agency to "identify worldwide assets of the Republic of Peru as potential targets for seizure".

Lupaka added: "Once the identification process is complete, and if the award payment has not yet been received, the company will pursue seizure of said assets through proceedings in the most appropriate jurisdictions utilizing the ICSID Award until such time as the full amount of the award and attendant costs are realized."

CEO Gordon Ellis said the company is hopeful that Peru will pay the amounts it owes shortly, adding it has the full support of Benchwalk, its funding partner.

In a background summary, the company noted it initiated an arbitration claim against the Republic of Peru in late 2019. The arbitration process was conducted through the International Centre for Settlement of Investment Disputes (ICSID) and continued until the ICSID Tribunal issued an Award in favour of the company on June 30, 2025.

Subsequent to the award date, Lupaka noted Peru had 120 days in which to challenge the award via a request for an annulment. The 120-day period passed on October 28, 2025, with no annulment being requested. Having no further recourse, the Republic of Peru must pay the award amounts, Thursday's statement said.

As of October 31, 2025, the amount payable was approximately US$67 million, which will continue to grow at an ICSID designated, compounded interest rate of UST plus 5% (which presently equates to near 9%), Lupaka added.

VANCOUVER, British Columbia, Nov. 20, 2025 (GLOBE NEWSWIRE) — Lupaka Gold Corp. ("Lupaka" or the “Company") (TSX-V: LPK, FRA: LQP) advises that although the Company fully expects the Republic of Peru to honour their obligations under the ICSID Convention and pay the recently issued Award, the Company is taking immediate steps to collect the Award proceeds.

In this regard, the Company has engaged an investigative agency to identify worldwide assets of the Republic of Peru as potential targets for seizure. Once the identification process is complete, and if the Award payment has not yet been received, the Company will pursue seizure of said assets through proceedings in the most appropriate jurisdictions utilizing the ICSID Award until such time as the full amount of the Award and attendant costs are realized.

Gordon Ellis (CEO) commented “While we are hopeful that Peru will pay the amounts it owes shortly, we are preparing to follow through with asset seizures if necessary. We are pleased to have the full support of Benchwalk, our funding partner, as we move forward.”

Background summary: The Company initiated an arbitration claim against the Republic of Peru in late 2019. The arbitration process was conducted through the International Centre for Settlement of Investment Disputes (ICSID) and continued until the ICSID Tribunal issued an Award in favour of the Company on June 30, 2025.

Subsequent to the Award date, Peru had 120 days in which to challenge the Award via a request for an annulment. The 120-day period passed on October 28, 2025, with no annulment being requested. Having no further recourse, the Republic of Peru must pay the Award amounts.

For ongoing updates and more detail with respect to the Arbitration Award, please refer to the Company’s website (www.lupakagold.com/projects/arbitration).

For background on the basis for the Claim, please refer to the Company’s previous news releases, also available on the Company’s website (www.lupakagold.com/news).

Lupaka was represented in the arbitration proceedings by the international law firm LALIVE (www.lalive.law), with the financial backing of Bench Walk Advisors (www.benchwalk.com). Both firms continue to be involved until the Award proceeds are received.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release.

About Lupaka Gold

Lupaka is a Canadian-based company focused on creating shareholder value through identification and development of mining assets.

About LALIVE

LALIVE is an international law firm with offices in Geneva, Zurich and London, that specializes in international dispute resolution. The firm has extensive experience in international investment arbitration in the mining sector, amongst others, and is currently representing investors and States as counsel worldwide.

About Bench Walk Advisors

Bench Walk Advisors is a global litigation financier with over USD 250 million of capital deployed across in excess of 100 commercial cases. Bench Walk and its principals have consistently been ranked as leading lawyers and litigation funders in various global directories.

FOR FURTHER INFORMATION PLEASE CONTACT:

Gordon Ellis, C.E.O.gellis@lupakagold.comTel: (604) 985-3147

or visit the Company’s profile at www.sedarplus.ca or its website at www.lupakagold.com

LyondellBasell Industries N.V. LYB and Nippon Paint China recently announced the launch of their partnership to close the loop for recycling coating packaging barrels. The initiative was announced at the China International Import Expo (CIIE). It promotes circularity in China’s coatings industry.

The system establishes a process for mechanically recycling used paint barrels. Under Nippon Paint’s Refresh Service, post-consumer barrels are collected from retail outlets and undergo processing by waste management providers. The plastic components are then sent for further processing to GXLYB to be converted into recycled pellets under LYB’s CirculenRecover brand. These recycled materials, when blended with virgin resins, are used by packaging manufacturers to produce new barrels through injection molding.

This step emphasizes the importance of cross-value-chain collaboration in advancing sustainable solutions. It helps reduce reliance on fossil fuels by increasing the circulation of valuable plastics.

The initiative is an expansion of the ongoing collaborations since 2022. LYB and Nippon Paint have previously collaborated on packaging made with CirculenRecover polymers, and in 2023, they signed an MoU to further this cause.

LYB’s shares have lost 43.9% over the past year compared with the industry’s 25.8% decline.

Zacks Investment Research

Image Source: Zacks Investment Research

In the fourth quarter, LyondellBasell anticipates reduced operating rates and year-end seasonality to impact results across most of its businesses. Increased natural gas and feedstock costs are expected to put pressure on integrated polyolefins margins in North America. LYB also sees soft industrial and consumer demand to persist in Europe.

While Industry downtime aided oxyfuels margins during October, seasonally higher costs for feedstocks and reduced octane values are expected to pressure margins for the balance of the fourth quarter. Cost reduction initiatives are also forecast to offset some of the pricing pressures in Advanced Polymer Solutions.

LYB’s Zacks Rank & Key Picks

LYB currently has a Zacks Rank #4 (Sell).

Some better-ranked stocks in the Basic Materials space areKinross Gold Corporation KGC, Fortuna Mining Corp. FSM and Harmony Gold Mining Company Limited HMY. KGC sports a Zacks Rank #1 (Strong Buy), while FSM and HMY carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for FSM’s current fiscal-year earnings is pegged at 83 cents per share.Its shares have gained 70.2% in the past year.

The Zacks Consensus Estimate for HMY’s 2026 earnings is pegged at $2.66 per share, indicating a rise of 109.45% from year-ago levels. HMY’s shares have gained 78.3% in the past year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Kinross Gold Corporation (KGC) : Free Stock Analysis Report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

LyondellBasell Industries N.V. (LYB) : Free Stock Analysis Report

Fortuna Mining Corp. (FSM) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

Stifel Canada on Tuesday reiterated its buy rating on the shares of Goliath Resources (GOT.V) and it

Gold hit a fresh all-time high as investors flocked to safe-haven assets, with spot prices crossing $3,500 an ounce. According to CNBC, spot gold price reached $3,508.50/ounce early today, topping the previous peak reached in April. The earlier rally was fueled by U.S. President Donald Trump’s sweeping tariff plans, though prices later cooled somewhat when he softened some of his proposals.

Having said that, gold has been one of the standout commodities this year, with prices up more than 30% so far in 2025. The precious metal has notched gains for six straight sessions now. Increasing rate cut expectations, a weaker U.S. dollar, tensions surrounding the Federal Reserve’s independence and geopolitical risks are strengthening the case for the yellow metal as a reliable hedge amid uncertainty.

Investors can capitalize on the bullish momentum of gold by investing in stocks like Agnico Eagle Mines Limited AEM, Idaho Strategic Resources Inc. IDR, Harmony Gold Mining Company Limited HMY and Gold Fields Limited GFI.

Catalysts Powering Gold Higher

Expectations of Fed Rate Cuts: The biggest driver has been the market’s conviction that the Federal Reserve will trim interest rates soon. Traders are assigning a 90% probability to a 25-basis-point cut at the Sept. 17 meeting, per CME’s FedWatch tool. Lower rates reduce the attractiveness of yield-bearing assets, making non-yielding gold more attractive. Soft economic data and elevated global risks only add to the likelihood of a looser policy stance. All eyes are now on Friday’s U.S. jobs report, which could shape expectations for the Fed’s next rate move.

A Weaker Dollar: Gold prices typically move in the opposite direction of the U.S. dollar, and 2025 has been no exception. U.S. Dollar Index (DXY) has fallen roughly 10%, according to TradingView, giving international buyers more incentive to scoop up gold. As gold is priced in dollars, a weaker currency makes the metal cheaper for buyers overseas, pushing up global demand and prices.

Concerns Over Fed Independence: Investor nerves have been rattled by escalating political pressure on the Fed. Trump’s criticism of the central bank and its leadership has raised fresh doubts about its independence. Markets fear that political interference in monetary policy could weaken the dollar and destabilize financial markets, which, in turn, strengthens gold’s safe-haven appeal.

Lingering Geopolitical and Economic Uncertainty: Finally, trade tensions, tariffs and fragile growth remain in the backdrop. Even when gold briefly cooled after April’s spike, these risks never fully disappeared. Investors are finding it safer to adopt longer-term strategies that prioritize stability, and gold remains a top choice for that.

4 Stocks to Ride Gold’s Rally

Agnico Eagle: Based in Toronto, AEM is one of the world’s leading gold producers, with operations across Canada, Mexico, and Finland. The company has built a reputation for quality growth, strengthened further after its merger with Kirkland Lake Gold, which created a top-tier senior producer with an impressive project pipeline. Key developments like the Odyssey project at the Canadian Malartic Complex, Detour Lake and Hope Bay are expected to support strong production and cash flow for years ahead. Hope Bay alone holds 3.4 million ounces of reserves, making it a valuable long-term asset.

Financially, Agnico Eagle is in good shape. In the second quarter of 2025, operating cash flow nearly doubled year over year to $1.8 billion, while free cash flow rose to $1.3 billion. The company ended the quarter with $963 million in net cash, highlighting its balance sheet strength. With a five-year annualized dividend growth rate and a payout ratio of 27%, AEM offers investors both stability and reliable income.

The Zacks Consensus Estimate for AEM’s 2025 EPS estimates implies a 64% year-over-year growth. Over the past 30 days, the estimates have risen 26 cents per share. The stock sports a Zacks Rank #1 (Strong Buy).

You can see the complete list of today’s Zacks #1 Rank stocks here.

Idaho Strategic: Headquartered inCoeur d'Alene, Idaho Strategic is a unique player in the gold sector, combining active gold production with one of the largest rare earth element (REE) land packages in the United States. Its flagship Golden Chest Mine, located in the Murray Gold Belt, is already in production and supported by additional assets like the New Jersey Mill and Eastern Star exploration property. By consolidating historic gold mines in the belt, the company now controls more than 7,000 acres of claims, giving it a strong foothold in a proven gold district.

IDR is ramping up its largest exploration program yet at Golden Chest, while also advancing REE projects across its 19,090-acre land position. These include drilling, trenching and sampling to uncover long-term value in rare earths and thorium. With improving cash flows and a low debt profile, Idaho Strategic is well-positioned to fund both its gold operations and its ambitious exploration plans, offering investors exposure to two critical resources.

The Zacks Consensus Estimate for IDR’s 2025 EPS suggests 13.4% year-over-year growth. Over the past 30 days, estimates have risen by 15 cents per share. The stock carries a Zacks Rank #2 (Buy).

Harmony Gold: It is South Africa’s largest gold producer by volume. HMY is steadily building a stronger global presence with projects spanning South Africa, Papua New Guinea, and Australia. The company’s crown jewel is the Wafi-Golpu copper-gold project in PNG, which holds an estimated 13 million ounces of gold reserves and is expected to be a long-term growth driver. Adding to this, the Eva Copper project in Australia offers a lower-risk pathway to expand its copper-gold footprint, positioning Harmony as a diversified resource producer with exposure to both gold and copper markets.

Financially, the company is on solid footing. As of June 30, 2025, cash and cash equivalents totaled $738 million, up 186% year over year. Free cash flow in fiscal 2025 jumped 58% to $614 million, giving Harmony Gold ample flexibility to fund its ambitious growth projects. With a five-year annualized dividend growth rate of nearly 20%, the company combines strong development potential with attractive shareholder returns.

The Zacks Consensus Estimate for HMY’s fiscal 2026 EPS implies 128% year-over-year growth. Over the past seven days, the consensus estimate has risen 4 cents per share. The stock carries a Zacks Rank #2.

Gold Fields: It is one of the world’s largest unhedged gold producers, with operations across South Africa, Ghana, Australia, Peru and Chile. The company has been expanding aggressively through acquisitions and new projects to strengthen its long-term production profile. Its 2024 purchase of Osisko Mining gave it full ownership of the Windfall project in Quebec, which is expected to start producing gold by 2028. In the near term, the ramp-up of the Salares Norte mine in Chile is on track for steady-state production in the fourth quarter of 2025, while the planned consolidation of the Gruyere mine in Australia adds another layer of high-quality output.

Gold Fields’ financial performance is equally impressive. In the first half of 2025, it generated $952 million in adjusted free cash flow, a sharp turnaround from last year’s outflow, courtesy of higher volumes and strong gold prices. The company also boosted its interim dividend by 133% year over year. With 13.5% production growth expected this year, Gold Fields offers both growth and income potential.

The Zacks Consensus Estimate for GFI’s 2025 EPS implies 94% year-over-year growth. Over the past 90 days, the consensus estimate has risen by 22 cents per share. The stock carries a Zacks Rank #2.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report

Gold Fields Limited (GFI) : Free Stock Analysis Report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

Idaho Strategic Resources, Inc. (IDR) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

Harmony Gold Mining Co. Ltd. HMY saw a roughly 20% surge in all-in-sustaining costs (AISC) to $1,806 per ounce (oz) in the fiscal 2025 (ended June 30, 2025). Total cash operating costs also climbed 19% year over year to $1,499 per oz in the fiscal year, hurt by lower production and higher labor and electricity costs. Increased cash operating costs and higher sustaining capital led to the uptick in AISC. Harmony remains exposed to higher costs, which are likely to weigh on its margins over the near term. Labor and electricity remain the largest components of its cost structure. HMY experienced a 16% increase in electricity and water costs in fiscal 2025 due to higher annual tariffs charged by Eskom. While the company is implementing various energy-saving initiatives and launching a renewable energy program, the burden of higher electricity costs is unlikely to abate over the near term due to higher tariffs. The company’s AISC guidance for fiscal 2026 indicates a year-over-year increase, reflecting inflationary pressures and higher sustaining capital expenditures. Among its peers, AngloGold Ashanti plc AU saw higher total operating costs in the second quarter, including increased royalty expenses and costs associated with the initial inclusion of Sukari, elevated costs related to legacy TSFs and higher costs resulting from mining contractor rate adjustments. AngloGold Ashanti’s total cash costs per ounce were up 8%, while AISC per ounce increased 7%. AngloGold expects consolidated AISC in the band of $1,580- $1,705 per ounce in 2025.Gold Fields Limited GFI reported a roughly 0.7% year-over-year decline in AISC to $1,739 per ounce in the second quarter. Gold Fields’ all-in cost rose around 2% year over year. Gold Fields sees AISC of $1,500-$1,650 per ounce and all-in cost between $1,780-$1,930 per ounce for full-year 2025.

HMY’s Price Performance, Valuation & Estimates

Shares of Harmony Gold have shot up 61.8% year to date against the Zacks Mining – Gold industry’s rise of 85.4%, thanks to a surge in gold prices.

Zacks Investment Research

Image Source: Zacks Investment Research

From a valuation standpoint, HMY is currently trading at a forward 12-month earnings multiple of 4.61, a roughly 67.9% discount to the industry average of 14.36X. It carries a Value Score of B.

Zacks Investment Research

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for HMY’s fiscal 2026 earnings implies a year-over-year rise of 127.6%. The EPS estimates for fiscal 2026 have been trending higher over the past 60 days.

Zacks Investment Research

Image Source: Zacks Investment Research

HMY stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

AngloGold Ashanti PLC (AU) : Free Stock Analysis Report

Gold Fields Limited (GFI) : Free Stock Analysis Report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

Harmony Gold Mining Company Limited HMY reported adjusted earnings of $1.29 per share in fiscal 2025 (ended June 30, 2025), up 30% from adjusted earnings of 99 cents recorded a year ago.

In fiscal 2025, revenues rose 24% year over year to $4,071 million. Average gold prices received for the fiscal year increased 31% year over year to $2,620 per ounce (oz).

Harmony Gold’s Production Dips and Costs Rise

Gold production was 1,479,671 oz for fiscal 2025, down 5% year over year.

Cash operating costs per oz increased 19% year over year to $1,499. All-in-sustaining costs rose 20% year over year to $1,806 per oz.

HMY’s Financial Overview

As of June 30, 2025, cash and cash equivalents rallied around 186% year over year to $738 million.

Total adjusted free cash flow surged 58% year over year to $614 million in fiscal 2025.

Long-term debt was $107 million at the end of fiscal 2025, up around 9% year over year.

HMY’s Outlook

Harmony Gold expects to produce 1.4-1.5 million oz of gold in fiscal 2026.

The company’s capital expenditure guidance reflects the higher spending required for both sustaining and major capital projects. Capital expenditures for fiscal 2026 are projected to increase to $699 million as a result of HMY’s investment in high-quality ounces and driving long-term growth across its portfolio.

HMY Stock’s Price Performance

Shares of Harmony Gold have surged 38.7% in the past year against the 59.3% growth in the industry.

Zacks Investment Research

Image Source: Zacks Investment Research

HMY’s Zacks Rank & Other Key Picks

HMY currently carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks in the Basic Materials space are Agnico Eagle MinesLimited AEM, The Mosaic Company MOS and Carpenter Technology Corporation CRS. AEM and MOS currently sport a Zacks Rank #1 (Strong Buy) each, while CRS carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for AEM’s current-year earnings is pegged at $6.94 per share, implying a 64.07% year-over-year surge. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 10.03%. AEM’s shares have gained 79.1% in the past year.

The Zacks Consensus Estimate for MOS’ 2025 earnings is pegged at $3.17 per share, indicating a rise of 60.10% from year-ago levels. The company’s earnings beat the consensus estimate in one of the trailing four quarters, while missing it in the rest. Its shares have soared 20.6% in the past year.

The Zacks Consensus Estimate for CRS’ current fiscal-year earnings is pegged at $9.51 per share, indicating a 27.14% year-over-year increase.Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 8.38%. CRS’shares have gained 67% in the past year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Carpenter Technology Corporation (CRS) : Free Stock Analysis Report

Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report

The Mosaic Company (MOS) : Free Stock Analysis Report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

We recently published 10 Stocks Skyrocket While Wall Street Sinks; 5 Quietly Hit New Record Highs. Harmony Gold Mining Company Ltd. (NYSE:HMY) is one of the top performers on Friday.

Harmony Gold snapped a four-day losing streak on Friday, jumping 5.31 percent to end at $13.28 apiece as investors loaded positions following the surge in prices of gold.

As of writing, spot prices of gold were up by 0.97 percent to $3,450.29 per troy ounce, buoyed by a higher probability of an interest rate cut next month.

Harmony Gold (HMY) Climbs as Gold Prices Jump

Svetlana Lukienko/Shutterstock.com

Gold typically benefits from lower interest rates, as the latter makes yields from bonds and savings less attractive. Additionally, lower interest rates tend to weaken the US dollar, making gold more affordable and appealing to foreign investors.

In other news, Harmony Gold Mining Company Ltd. (NYSE:HMY) reported a stellar earnings performance in the full fiscal year of 2025, with net income jumping by 75 percent to $802 million from $459 million in the same period last year.

Revenues grew 24 percent to $4.07 billion from $3.28 billion year-on-year, primarily driven by a 27-percent increase in the average gold price of $2,620/oz from $1,999/oz year-on-year.

Following the results, Harmony Gold Mining Company Ltd. (NYSE:HMY) declared $8.88 worth of cash dividends to shareholders as of October 10 record. The dividends are payable on October 13, 2025.

While we acknowledge the potential of HMY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

Investors interested in stocks from the Mining – Gold sector have probably already heard of Harmony Gold (HMY) and Franco-Nevada (FNV). But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.

Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits.

Harmony Gold and Franco-Nevada are sporting Zacks Ranks of #2 (Buy) and #3 (Hold), respectively, right now. This means that HMY's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. However, value investors will care about much more than just this.

Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels.

Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.

HMY currently has a forward P/E ratio of 4.36, while FNV has a forward P/E of 37.93. We also note that HMY has a PEG ratio of 0.08. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. FNV currently has a PEG ratio of 2.42.

Another notable valuation metric for HMY is its P/B ratio of 3.12. The P/B ratio is used to compare a stock's market value with its book value, which is defined as total assets minus total liabilities. For comparison, FNV has a P/B of 5.38.

Based on these metrics and many more, HMY holds a Value grade of A, while FNV has a Value grade of F.

HMY has seen stronger estimate revision activity and sports more attractive valuation metrics than FNV, so it seems like value investors will conclude that HMY is the superior option right now.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Harmony Gold Mining Company Limited (HMY) : Free Stock Analysis Report

Franco-Nevada Corporation (FNV) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

ST. HELIER, Jersey, August 29, 2025–(BUSINESS WIRE)–MAC Copper Limited ARBN 671 963 198 (NYSE:MTAL; ASX:MAC)

MAC Copper Limited (NYSE:MTAL, ASX:MAC) ("MAC" or the "Company") is pleased to announce that the requisite majorities of MAC shareholders today voted in favour of resolutions to approve the proposed acquisition of 100% of the issued share capital in MAC by Harmony Gold (Australia) Pty Ltd (a wholly owned subsidiary of Harmony Gold Mining Company Limited (JSE:HAR, NYSE:HMY)) ("Harmony") by way of a Jersey law scheme of arrangement pursuant to Article 125 of the Companies (Jersey) Law 1991 (as amended) ("Scheme"), to authorise the directors of MAC to implement the Scheme and deal with certain ancillary matters and to approve the alteration of MAC’s Articles of Association.

Capitalised terms used in this announcement have the meaning given to them in the Scheme Circular, a copy of which is attached to MAC’s announcement released on 31 July 2025.

Results of Court Meeting and General Meeting

A detailed report of the proxy position and votes cast at the Court Meeting and the General Meeting is attached to this announcement.

In summary:

98.43% of the votes cast by Scheme Shareholders at the Court Meeting were in favour of the resolution to approve the Scheme;
87.50% of Scheme Shareholders present and voting (whether in person, online or by proxy) at the Court Meeting voted in favour of the resolution to approve the Scheme; and
97.84% of the votes cast by MAC Shareholders at the General Meeting were in favour of the General Meeting Resolutions.

Court Sanction Hearing

MAC will apply to the Royal Court of Jersey for orders sanctioning the Scheme at the Court Sanction Hearing scheduled for 9 October 2025.

If the Court sanctions the Scheme at the Court Sanction Hearing, MAC intends to deliver a copy of the orders of the Court to the Registrar of Companies for registration on 10 October 2025, upon which the Scheme will become Effective. If this occurs:

MAC Shares are expected to be suspended from trading on the NYSE on 10 October 2025 (with effect from the close of trading on the NYSE); and
MAC CDIs are expected to be suspended from quotation on the ASX on 13 October 2025 (before trading opens on the ASX).

MAC will release a separate announcement providing further details in relation to the closing timetable for the Transaction in due course.

Further information

If, after reading the Scheme Circular, you have any questions about the Scheme or the Scheme Circular, please contact MAC’s proxy solicitation firm, Sodali & Co, at:

If you are a MAC Shareholder Call toll-free in US:+1 (800) 662-5200Outside of US:+1 (203) 658-9400

If you are a MAC CDI Holder Within Australia:1300 229 418Outside Australia:+61 2 9066 4059

This announcement has been authorised for release by Mick McMullen, CEO and Director.

About MAC Copper Limited

MAC Copper Limited (NYSE:MTAL; ASX:MAC) is a company focused on operating and acquiring metals and mining businesses in high quality, stable jurisdictions that are critical in the electrification and decarbonization of the global economy.

The following information is provided in accordance with ASX Listing Rule 3.13.2.

Court Meeting – Resolution 1 – Approval of Scheme of Arrangement

Proxy position as follows:

	Number of votes cast	% of votes cast	Number of shareholders	% of shareholders
FOR	67,231,673	98.31	14	82.35
AGAINST	1,069,142	1.56	2	11.76
OPEN1	0	0	0	0
TOTAL2	68,387,081	100%	17	99.99
ABSTAIN3	86,266	0.13	1	5.88
REQUSITE MAJORITIES	At least 75%		More than 50%

Resolution carried on a poll as follows:

	Number of votes cast	% of votes cast	Number of shareholders	% of shareholders
FOR	67,231,673	98.43	14	87.5
AGAINST	1,069,142	1.57	2	12.5
TOTAL	68,300,8150	100%	16	100
ABSTAIN	86,266	N/A	1	N/A

__________________________________
1		Open votes to be voted at the proxy’s direction.
2		Totals may exceed 100% due to rounding.
3		Votes relating to a shareholder abstaining from voting are not counted in determining the requisite majorities.

General Meeting

Resolution 1 – Authorise directors to carry the Scheme into effect

Proxy position as follows:

	Number of votes cast	% of votes cast	Number of shareholders	% of shareholders
FOR	67,038,244	97.72	14	82.35
AGAINST	1,476,502	2.15	2	11.76
OPEN4	0	0	0	0
TOTAL5	68,601,012	100%	16	99.99%
ABSTAIN6	86,266	0.13	1	5.88
REQUSITE MAJORITIES	At least two thirds		–

Resolution carried on a poll as follows:

	Number of votes cast	% of votes cast	Number of shareholders	% of shareholders
FOR	67,038,244	97.84	14	87.5
AGAINST	1,476,502	2.16	2	12.5
TOTAL	68,514,746	100%	16	100
ABSTAIN	86,266	N/A	1	N/A

__________________________________
4		Open votes to be voted at the proxy’s direction.
5		Totals may exceed 100% due to rounding.
6		Votes relating to a shareholder abstaining from voting are not counted in determining the requisite majorities.

Resolution 2 – Amendment to Articles of Association

Proxy position as follows:

	Number of votes cast	% of votes cast	Number of shareholders	% of shareholders
FOR	67,035,978	97.72	14	82.35
AGAINST	1,476,389	2.15	2	11.76
OPEN7	0	0	0	0
TOTAL8	68,601,012	100%	16	99.99%
ABSTAIN9	86,645	0.13	1	5.88
REQUSITE MAJORITIES	At least two thirds		–

Resolution carried on a poll as follows:

	Number of votes cast	% of votes cast	Number of shareholders	% of shareholders
FOR	67,035,978	97.84	14	87.5
AGAINST	1,476,389	2.16	2	12.5
TOTAL	68,514,746	100%	16	100
ABSTAIN	88,645	N/A	1	N/A

__________________________________
7		Open votes to be voted at the proxy’s direction.
8		Totals may exceed 100% due to rounding.
9		Votes relating to a shareholder abstaining from voting are not counted in determining the requisite majorities.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250829513937/en/

Contacts

Mick McMullenChief Executive Officer & DirectorMAC Copper Limitedinvestors@metalsacqcorp.com Morné EngelbrechtChief Financial OfficerMAC Copper Limited

CONNECT WITH US

Tweets

Tweet with hash tag #miningfeeds or @miningfeeds and your tweets will be displayed across this site.

Tweets by MiningFeeds

MOST ACTIVE MINING STOCKS

Daily Gainers


Wallbridge Mining Co. Ltd.	WM.TO	+1,900.00%
Galore Resources Inc.	GRI.V	+100.00%
Midlands Minerals Corp.	MEX.V	+66.88%
Redstone Resources Ltd	RDS.AX	+50.00%
GoviEx Uranium Inc.	GXU.V	+42.86%
Mount Burgess Mining NL	MTB.AX	+33.33%
Casa Minerals Inc.	CASA.V	+30.00%
Poseidon Nickel Limited	POS.AX	+25.00%
Azincourt Energy Corp.	AAZ.V	+20.00%
ALX Uranium Corp.	AL.V	+16.67%

CONNECT WITH US

Tweets

MOST ACTIVE MINING STOCKS

Daily Gainers

Articles

FOUND POSTS

Spain Targets Mineral Deposits With US$223 Million Exploration Plan

Minnova Plans US$53M Investment to Restart Manitoba Gold Mine by 2028

Greenland Approves Tanbreez Mine Plans Through 2050

Burkina Faso Opens First Gold Refinery With 164-Tonne Annual Capacity

SuperCritical, Michigan Researchers Advance Offshore Uranium Recovery System