Past year: ▲ 129%(5.32 – 18.32 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
8 Sept 2025drilling progress report▲ GoodMajor
Exploration more than doubled the known extent of the K-Zone system at New Afton, now about 600 metres of strike and 900 metres vertically, with new mineralisation 550 metres further east from surface holes. At Rainy River, surface drilling extended the NW Trend and infill work was converting inferred resources ahead of the year-end reserve statement.
13 Feb 2025resource reserve update▲ GoodMajor
Extended the mine life at both New Afton and Rainy River, filed updated technical reports for each and published reserves and resources as at 31 December 2024, alongside a three-year operational outlook and free cash flow profile.
13 Feb 2025resource reserve update● NeutralMajor
The New Afton technical report as at 31 December 2024 puts proven and probable reserves at 39.6 million tonnes at 0.65 g/t gold, 1.8 g/t silver and 0.72% copper, for 828,000 ounces of gold, 2.253 million ounces of silver and 631 million pounds of copper. Almost all of it, 37.7 million tonnes, is C-Zone; East Extension carries only 962,000 tonnes but at 1.31 g/t gold and 1.63% copper.
13 Feb 2025resource reserve update● NeutralMajor
The Rainy River technical report as at 31 December 2024 puts proven and probable reserves at 52.9 million tonnes at 1.25 g/t gold and 3.25 g/t silver, for 2.126 million ounces of gold and 5.535 million ounces of silver, priced at US$1,650 gold. Of that, 20.8 million tonnes at 0.88 g/t is open pit, 16.4 million tonnes at 2.54 g/t is underground and 15.7 million tonnes at 0.38 g/t is stockpile.
17 Sept 2024drilling result▲ GoodMajor
Further drilling extended K-Zone and found new high-grade mineralisation at the HW Zone in the eastern part of the New Afton mine, which management described as a possible new high-grade mining area alongside the existing East Extension resource, again above the C-Zone extraction level and close to infrastructure.
30 May 2024drilling result▲ GoodMajor
Drilling from C-Zone infrastructure hit bornite-rich copper-gold porphyry in the K-Zone at New Afton, including 217 metres of core at 2.01% copper and 1.79 g/t gold, with an estimated true width of 40 metres. The zone sits above the C-Zone extraction level, which is what makes it interesting: existing infrastructure could reach it.
7 Sept 2022drilling result▲ Good
Drilling in the upper East Extension at New Afton returned wide, high-grade copper-gold intervals including 56 metres at 1.37 g/t gold and 3.00% copper and 40 metres at 2.01 g/t gold and 2.08% copper. The zone had been outlined only two years earlier and sits close to existing underground infrastructure.
1 Apr 2022resource reserve update▲ GoodMajor
The updated Rainy River technical report, effective 28 March 2022, extends the mine life to 2031 by converting a further 569,000 ounces in the underground main zones to reserves, and switches the remaining open pit to selective mining with stockpile blending before a batch-processing underground operation. Prepared at US$1,400 gold and US$19.00 silver.
10 June 2021drilling result▲ Good
Underground drilling on targets picked out by an artificial-intelligence study of the New Afton deposit hit 2 metres at 25.2 g/t gold and 8 metres at 0.97 g/t gold with 1.27% copper about 500 metres west of the B3 reserve, while surface drilling on the Cherry Creek trend three kilometres west returned 1 metre at 21 g/t gold.
14 Apr 2021drilling progress report● Neutral
First-quarter production came in on plan, with Rainy River's deferred capital projects finished and the mine turning to free cash flow, and the New Afton B3 zone due to start in the second quarter after its Mines Act permit. New Afton was still ramping back up from a mud-rush incident in February 2021.
2 Apr 2020resource reserve update● Neutral
Filed the New Afton NI 43-101 technical report dated 28 February 2020, prepared by Roscoe Postle Associates.
30 Mar 2020resource reserve update● Neutral
Filed the Rainy River NI 43-101 technical report with an effective date of 12 March 2020 and resources as at 31 December 2019.
20 Feb 2020drilling result▲ Good
Thirteen holes for 7,160 metres at New Afton defined an East Extension zone beneath the sub-level cave and east of the planned C-zone block cave, about 300 by 40 metres in plan and 700 metres down dip, open to the east. A 2020 programme was planned to turn it into a resource.
15 Aug 2018resource reserve update● NeutralMajor
The Rainy River technical report, effective 30 June 2018, puts combined open pit and underground proven and probable reserves at 120.5 million tonnes at 1.09 g/t gold and 3.2 g/t silver, for 4.220 million ounces of gold and 12.398 million ounces of silver. The 2013 feasibility had contemplated producing 3.645 million ounces over sixteen years.
9 Aug 2018resource reserve update● Neutral
A short notice that the Rainy River NI 43-101 technical report had been filed on SEDAR. The report itself was furnished separately a week later.
27 Mar 2015resource reserve update● Neutral
Filed the NI 43-101 technical report on the New Afton mine in British Columbia, dated 23 March 2015 and prepared by Roscoe Postle Associates.
11 Sept 2014drilling result▲ Good
Twenty more holes for 13,449 metres at the New Afton C-zone, below and along strike from the B-zone block cave being mined, returned intervals such as 126 metres at 1.47 g/t gold and 1.80% copper. The work was aimed at upgrading and widening the C-zone resource declared the previous July.
31 July 2013resource reserve update▲ GoodMajor
The Rainy River feasibility study in northwestern Ontario set out a 16-year mine producing about 3.645 million ounces of gold and 6.615 million ounces of silver, for US$713 million of initial capital plus US$484 million sustaining, at a life-of-mine total cost of US$544 an ounce and a 23.7% after-tax return with a 3.2-year payback. This is the baseline against which everything Rainy River later did should be read.
