# $4.3 Billion For Antamina's Silver; $469 Million In One Quarter For Royal Gold - The Royalty Companies Continue Expanding Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/4-3-billion-for-antamina-s-silver-469-million-in-one-quarter-for-royal-gold-the--35b3f752-2a13-41a6-aaf7-8767828d8b82 Original source: https://money.tmx.com/en/quote/RGLD/news/8669523256613943/4-3-billion-for-antamina-s-silver-469-million-in-one-quarter-for-royal-gold-the- Publisher: tmx Original announcement: 2026-05-12T13:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Greenland Mines Ltd. - Ticker: GRML - Exchange: TSX - Region: Unavailable - Primary commodity: Palladium - Secondary commodities: Gold, Platinum - Document categories: Resource update, Other - Extracted: 2026-09-18 18:37:09 UTC Narrative sentiment: 0.40 · Bullish ## Minestarters Atlas summary Greenland Mines Ltd. released a sensitivity analysis for its Skaergaard Project, demonstrating that a high-price scenario could result in a 45-55% grade uplift for its palladium-equivalent resources. The project holds a large 2022 NI 43-101 Mineral Resource of 25.4 Moz PdEq, though no formal economic studies \(PEA, PFS, or DFS\) have been completed to date. Reasoning: The document discusses a sensitivity analysis on an existing 2022 Mineral Resource, showing significant grade uplift in a high-price scenario, but explicitly notes these are not new resource estimates or economic studies. - Positive factor: Large scale Pd-Au-Pt deposit - Positive factor: High-price sensitivity case shows significant grade uplift - Positive factor: Western-aligned jurisdiction - Positive factor: Fully funded 2026 campaign - Negative factor: Sensitivity analysis is not a formal MRE or economic study - Negative factor: No PEA, PFS, or DFS completed Facts used in scoring: 3 ## Classification and evidence **Maiden Resource \(neutral\)** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: The 2022 NI 43-101 Mineral Resource is the baseline for the sensitivity analysis, establishing the project's resource status. Evidence · text > The 2022 NI 43-101 Mineral Resource on Skaergaard hosts 25.4 Moz palladium-equivalent **QP/CP Signed \(positive\)** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: SLR Consulting is named as the Qualified Person firm that authored the 2022 report and conducted the sensitivity analysis. Evidence · text > supported by SLR Consulting \(Qualified Person\) **Inferred Resource \(negative\)** Polarity: negative Story-specific tag Definition: No canonical definition is currently available. Why it applies: A significant portion of the palladium-equivalent resource is in the Inferred category. Evidence · text > 23.5 Moz gold-equivalent across the combined Indicated and Inferred categories ## Extracted facts Stored fact records: 3. Some facts used in scoring do not have a stored record. ## Resource Estimates (3) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/4-3-billion-for-antamina-s-silver-469-million-in-one-quarter-for-royal-gold-the--35b3f752-2a13-41a6-aaf7-8767828d8b82#fact-resource-facts-0) Skaergaard Project · palladium Historical result Needs review: historical\_restatement #### Identity - Project: Skaergaard Project - Commodity: palladium - Ticker: GRML #### Resource scope - Estimate type: resource - Effective date: 2022-01-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:32460a0b89b643c85c3e - Deposit or zone: Skaergaard #### Resource Data - Category: indicated - Contained Metal: 16.58 - Contained Unit: moz pdeq #### Prior Estimate - Resource Date: 2022-01-01 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-01-01T00:00:00.000Z #### Dates - Event date: 2026-05-12T00:00:00.000Z Reasoning: Indicated PdEq tonnes in high-price case. - Positive factor: Significant grade uplift in high-price scenario - Negative factor: Illustrative sensitivity only, not a new MRE Evidence · text > indicates 16.58 Moz palladium-equivalent Indicated #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.4 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/4-3-billion-for-antamina-s-silver-469-million-in-one-quarter-for-royal-gold-the--35b3f752-2a13-41a6-aaf7-8767828d8b82#fact-resource-facts-1) Skaergaard Project · palladium Historical result Needs review: historical\_restatement #### Identity - Project: Skaergaard Project - Commodity: palladium - Ticker: GRML #### Resource scope - Estimate type: resource - Effective date: 2022-01-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:6d477167ea167bab10dd - Deposit or zone: Skaergaard #### Resource Data - Category: inferred - Contained Metal: 21.92 - Contained Unit: moz pdeq #### Prior Estimate - Resource Date: 2022-01-01 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-01-01T00:00:00.000Z #### Dates - Event date: 2026-05-12T00:00:00.000Z Reasoning: Inferred PdEq tonnes in high-price case. - Positive factor: Significant grade uplift in high-price scenario - Negative factor: Illustrative sensitivity only, not a new MRE Evidence · text > and 21.92 Moz palladium-equivalent Inferred in the high-price case #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.4 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/4-3-billion-for-antamina-s-silver-469-million-in-one-quarter-for-royal-gold-the--35b3f752-2a13-41a6-aaf7-8767828d8b82#fact-resource-facts-2) Skaergaard Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Skaergaard Project - Commodity: gold - Ticker: GRML #### Resource scope - Estimate type: resource - Effective date: 2022-01-01T00:00:00.000Z - Reporting standards: ni\_43\_101 - Resource group id: resource:32460a0b89b643c85c3e - Deposit or zone: Skaergaard #### Resource Data - Category: indicated #### Prior Estimate - Resource Date: 2022-01-01 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2022-01-01T00:00:00.000Z #### Dates - Event date: 2026-05-12T00:00:00.000Z Reasoning: Historical gold-equivalent resource stated in 2022 report. Evidence · text > The 2022 NI 43-101 Mineral Resource on Skaergaard hosts ... 23.5 Moz gold-equivalent #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 4.4 years before this release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.