Kenneth MacLeod

we just demonstrated we have just under 800,000 minable allowances from the drilling from 2018 to 23.

brings the total area under our control to 9000 hectares.

we have a district district scale property that we feel has a potential for multi-million ounces of potential

we've always maintained that the potential for that original Serakiche 1,400 uh what was it now? 14 Yeah, 1,400 hectare concession potential was 3 million ounces.

production of just under half a million ounces.

Because when you look at taking gold at $3,500 an ounce we're looking at an after-tax net pre internal rate of return of over 50%.

And when you take gold at the current price of $4,700 the internal rate of return goes closer to 100%.

the previous PA was based on $1,800 an ounce, if you look at where it's going to be based now, whether the reports going to be at $2,800 or $3,000, and we know it's going to be a discount to the current $4,000

And when you take gold at the current price of $4,700 the internal rate of return goes closer to 100%.

we're looking at an after-tax net pre internal rate of return of over 50%.

the PEA was based upon uh, 16,000 tons per day throughput over a 10-year life of mine.

I do expect that from the current $1,800 cash cost per ounce, that by filling some of these areas that are currently sterile, that we can reduce

10 million yesterday and uh we we raised another I believe it was 12 million to three weeks ago.

51% interest through the expenditure of $9 million dollars in exploration of the property

It's a $4 million Canadian financing and it's really the precursor to us securing the project financing next year

you guys have raised a war chest, uh, 24 million dollars, correct me if I'm wrong.

We the insidider are participating to maintain our 28% interest in in our holdings

It's fully committed for right now. So we're we are proceeding now in the basis of closing this financing within the by the end of this year actually by the 28th or 29th of December

we started off last week with one rig operating 247. So, we have two shifts. And then the second rig will be within 30 days.

we should be able to announce that I would say by by the middle to the third week of June, we should have some assays.

We've initiated a 50,000 meter drilling programs just started last week actually on the original area we drilled where the pitch shells are located

when they get converted into uh formal agreements, which hopefully will be within about 10 days or so

50,000 m over the next uh 12 to 15 months.

As of yesterday, we started the drilling program.

the uh best estimate of uh announcing the economic factors would be by the end of January and then within 40 days of that uh we should be releasing the the full report

we'd need another three months of to finalize the engineering. From that point we start construction. Then it's about a 13-month period to to pour the first Dory bar

We believe very strongly that in Q1 of 2026 we should be able to achieve that distinction of having the MIA approved

We are also producing a brand new pea which should be also coming out in final form in Q1 of 2026 and hopefully by the end of January we'll have the economic figures re released

waiting for the approval for the environmental impact statement in Mexico and it's that's been going on for several years and for two and a half years

we extended the concession by increasing the area by three-fold to the north.

the extension to the east that we just announced last week. And that extension to the east increased the the size of the concession from 4,000 hectare to 9,000 hectares.

as we continue to push forward to get the the MIA or the environmental impact statement approved

the buzzword in the in the mining community in Mexico is that Sonora and our concession

the recent announcements by the Mexican government on the fact that they're opening up the mining sector

the support we're getting from the government of Sonora which of course is the number one gold producer in Mexico

convert that into material mineralized material. And we're following vein structures that are exposed at surface.

the idea of having um a potentially 100% degree of success with the drilling is realistic.

The insiders, proven business people, successful, who have a lot of their own money into this. We own 28% of the shares