The Great Gold Rotation: Smart Money Chases Strategic Assets as Gold Holds $4,300

Executive Summary

• GoldHaven Resources completed its inaugural diamond‑drilling program at the Copeçal Gold Project in Brazil, logging nine holes (1,085.7 m) that intersected two priority gold targets and discovered bornite mineralisation, indicating potential copper‑gold system expansion.
• Equinox Gold agreed to sell its Brazil Operations (Aurizona Mine, RDM Mine, Bahia Complex) to a CMOC Group subsidiary for $1.015 billion ($900 M cash at closing + up to $115 M contingent), eliminating $800 M of debt and strengthening cash flow.
• Additional industry updates include TDG Gold’s 2025 performance and acquisitions, GoldMining’s new Colíder concession in Brazil, and Perpetua Resources’ EPCM partnership with Hatch Ltd. for the Stibnite Gold Project.

Key Details

• GoldHaven Drilling Program (Copeçal, Brazil)
• Nine diamond holes totaling 1,085.7 m drilled on a 3,681‑ha property.
• Hole COPE-PDH-004: ~30 m of potential gold‑bearing mineralisation at the East Target.
• Follow‑up Hole COPE-PDH-009: intersected bornite (copper‑rich sulphide), first such discovery on the project, suggesting a larger Au‑Cu system.
• West Target: ~60 m of weathered rock with fractured zones and gold‑bearing quartz; assay results pending.

• All core logged and sampled for laboratory assay before year‑end; results to be reported in forthcoming 43‑101 Technical Report.

• Equinox Gold M&A Transaction

• Sale of Brazil Operations (Aurizona, RDM, Bahia Complex) to CMOC Group subsidiary for $1.015 billion.
  • Cash consideration: $900 million at closing.
  • Contingent payments: Up to $115 million based on post‑closing performance.
• Proceeds will fully repay a $500 million Term Loan and a $300 million Sprott Loan, reducing interest expense and enhancing per‑share cash flow.

• Post‑sale production focus: Valentine & Greenstone (Canada), Mesquite (California, USA), El Limón & Libertad (Nicaragua) with projected 2026 output of 700,000–800,000 oz Au.

• TDG Gold Corp. Highlights

• Share price up >600% YoY in 2025 driven by Aurora West discovery (gold‑silver‑copper mineralisation over 600 m).

• Completed acquisition of Anyox Copper Ltd. and secured C$28.75 million bought‑deal financing; treasury expected to exceed C$20 million entering 2026.

• GoldMining Inc. – Colíder Concession

• Granted exploration concession for a 10,000‑ha claim in Mato Grosso State, Brazil (effective 2025‑10‑30).

• Historic work: 29 RC holes (1,847 m) with surface assays up to 11.2 g/t Au and notable copper anomalies.

• Perpetua Resources – Stibnite Gold Project

• Hatch Ltd. appointed EPCM contractor; Hatch also investing $4 million equity in Permutua.
• Project positioned as a high‑grade open‑pit gold deposit and the sole U.S. domestic antimony reserve for defense munitions.

Notable Quotes

• “Intersecting sulphide mineralisation… has provided valuable new geological insights.” – Rob Birmingham, CEO, GoldHaven Resources
• “The sale of our Brazil Operations is a pivotal step to position Equinox Gold as a North American‑focused gold producer…” – Darren Hall, CEO, Equinox Gold

All non‑material boilerplate, forward‑looking statements, and disclaimer text have been omitted.