Predictive Discovery (PDI) 2025 Precious Metals Summit - Beaver Creek summary

Project milestones and development

• Environmental compliance certificate issued in January enabled exploitation permit application; definitive feasibility study completed in June.

• Exploitation permit is in the final approval stage, awaiting presidential signature.

• Project features a 5.5 million oz resource and 3 million oz ore reserve, with a 250,000 oz/year production profile for over 12 years.

• All-in sustaining cost is $1,057/oz, with a pre-production CapEx of $463 million and NPV of $1.6 billion at $2,400/oz gold price.

• Payback period is just over a year, with commercial production targeted for mid-2028.

Operational and technical highlights

• Mining will begin with open pit and underground operations at NEB and BC deposits.

• Processing plant designed for 4.5 million tons/year, achieving over 92% gold recovery.

• Filtered stack tailings method chosen to minimize environmental risk due to proximity to a national park.

• Significant exploration upside exists, with high-grade assay results not yet included in resource estimates.

• Project supported by experienced management with a track record in African mine development.

Economic and community impact

• Project will generate over $2 billion in government revenues at $2,400/oz gold price.

• Peak construction workforce will exceed 1,500, with 1,100 operational jobs, mostly for local Guineans.

• Committed to sustainable development, with key social management plans in place before construction.

• Guinea offers a stable mining code: 5% royalty, 1% for local development, 30% corporate tax, and 15% government free carry.

• Project is backed by major institutional investors and has strong research coverage.