Northwire Canada EditionMonday, November 9, 2026
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Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7% Gold 4,079.60 −0.8% Silver 51.94 −0.8% Copper 6.24 −0.5% Oil 90.83 +0.3% Palladium 1,017.10 −2.6% KRN 0.260 −7.1% GSKR 2.84 +5.6% ADE 0.125 +4.2% NRM 0.055 +0.0% BBB 0.520 −1.9% LGD 2.09 +1.9% DEC 0.110 +0.0% LCE 0.200 +0.0% NILI 0.515 −1.0% CDE 21.85 +6.7% CAN 0.045 +0.0% LORD 0.100 +0.0% HBM 29.49 +2.3% ELEF 0.265 +120.8% MUN 0.300 +0.0% SAGA 0.400 +6.7%
Resource Estimate

DENARIUS METALS FILES 2025 ANNUAL FILINGS ON SEDAR+

By The Northwire Desk — AI Analysis Mar 31, 2026 · 22:50 DMET · 1.01 DENARIUS METALS CORP.
DMET · Price

Executive Summary

  • Denarius Metals released its 2025 annual financial results, reporting $1.7 million in revenue from gold and silver sales at the Zancudo Project during its "early production" phase.
  • The company announced an updated Mineral Resource Estimate (MRE) for the Zancudo Project and highlighted a Preliminary Economic Assessment (PEA) projecting $2.0 billion in net revenue over an 11-year mine life.
  • Construction of a new 1,000 tonnes per day (tpd) processing plant at Zancudo is underway, with commissioning expected in the third quarter of 2026.

Key Details

  • 2025 Production & Revenue:
    • Total revenue: $1.7 million from the sale of 333 ounces of gold and 5,749 ounces of silver.
    • Average realized gold price (NG): $4,008 per ounce sold.
    • Total cash costs (NG): $2,352 per ounce of gold sold.
    • Gross profit: $0.6 million (approximately 41% of gold revenue).
  • Zancudo Project Operations & Infrastructure:
    • Current phase involves onsite crushing and shipping to Trafigura Pte. Ltd.
    • New 1,000 tpd processing plant commissioning expected in Q3 2026.
    • Civil works for the plant and dry-stack tailings storage facility are scheduled for construction during the summer of 2026.
    • The company has $3.4 million available from a Zancudo Prepayment Facility with Trafigura to fund remaining construction.
  • Updated Mineral Resource Estimate (MRE) (as of Oct 30, 2025):
    • Indicated Resources: 979,000 tonnes @ 6.9 g/t Au and 84 g/t Ag (totaling 217,000 oz Au and 2.7M oz Ag).
    • Inferred Resources: 4.6 million tonnes @ 5.6 g/t Au and 84 g/t Ag (totaling 832,000 oz Au and 12.5M oz Ag).
    • A new 15,000-meter infill drilling campaign is commencing in April 2026 targeting the Brisas, El Castano, and Independencia Mine targets.
  • Preliminary Economic Assessment (PEA) Highlights:
    • Project Life: 11 years.
    • Expected Net Revenue: $2.0 billion.
    • LOM All-in Sustaining Cost (AISC NG): $2,477 per ounce of gold.
    • LOM After-tax Free Cash Flow: $452 million.
  • Financial Performance & Liquidity:
    • Full Year 2025 Net Loss: $31.2 million ($0.27 per share).
    • Cash Position (Dec 31, 2025): $6.9 million (up from $1.1 million at end of 2024).
    • Recent Capital Inflow: CA$20.9 million (approx. $15.2 million USD) raised in Q1 2026 through the exercise of warrants and stock options.
  • Aguablanca Project (Spain):
    • Closed a first tranche of $7.0 million in a private placement of five-year, 12% secured notes issued by Rio Narcea Recursos, S.A. (RNR) in late March 2026.
    • A further $0.5 million tranche is expected in early April 2026.
    • Currently processing a third-party facility for a EUR 20 million senior secured facility expected in Q2 2026.
Read the original news release →

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