# $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--99b3902c-7a40-4d66-bfce-4b911de6e03a Original source: https://money.tmx.com/en/quote/RGLD/news/6796222128056879/4-3-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 18:42:49 UTC Narrative sentiment: 0.40 · Bullish ## Minestarters Atlas summary Greenland Mines Ltd. released a sensitivity analysis on its Skaergaard Project, demonstrating that high metal prices could result in a 45-55% grade uplift for its existing 2022 Mineral Resource. The project is a large-scale Pd-Au-Pt deposit, 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 under high-price scenarios, but explicitly states 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: Qualified Person \(SLR Consulting\) involved in sensitivity work - Negative factor: Results are sensitivity analysis, not a new MRE or economic study - Negative factor: No PEA, PFS, or DFS completed Facts used in scoring: 3 ## Classification and evidence **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The 2022 resource includes an Inferred category which is speculative. Evidence · text > hosts 25.4 Moz palladium-equivalent and 23.5 Moz gold-equivalent across the combined Indicated and Inferred categories **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: SLR Consulting is identified as the Qualified Person firm that authored the 2022 report and conducted the sensitivity analysis. Evidence · text > supported by SLR Consulting \(Qualified Person\) **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: The resource being analyzed is from a 2022 NI 43-101 report, which is over 2 years old relative to the 2026 publication date. Evidence · text > The 2022 NI 43-101 Mineral Resource on Skaergaard ## 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--99b3902c-7a40-4d66-bfce-4b911de6e03a#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 - Resource group id: resource:c6a2f086972ddeb7e513 #### Resource Data - Category: indicated - Contained Metal: 16.58 - Contained Unit: moz palladium-equivalent #### 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: Sensitivity result showing increased grade potential under specific price assumptions. - Positive factor: Significant grade uplift in high-price scenario - Negative factor: Not a new resource estimate Evidence · text > indicates 16.58 Moz palladium-equivalent Indicated ... in the high-price case #### 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 **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--99b3902c-7a40-4d66-bfce-4b911de6e03a#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 - Resource group id: resource:ac4f82a0b650ff05e1e4 #### Resource Data - Category: inferred - Contained Metal: 21.92 - Contained Unit: moz palladium-equivalent #### 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: Sensitivity result showing increased grade potential under specific price assumptions. - Positive factor: Significant grade uplift in high-price scenario - Negative factor: Not a new resource estimate - Negative factor: Inferred category is speculative 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 **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--99b3902c-7a40-4d66-bfce-4b911de6e03a#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 - Resource group id: resource:c6a2f086972ddeb7e513 #### Resource Data - Category: indicated - Contained Metal: 23.5 - Contained Unit: moz gold-equivalent #### 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: Baseline historical resource figure. Evidence · text > hosts 25.4 Moz palladium-equivalent and 23.5 Moz gold-equivalent across the combined Indicated and Inferred categories #### 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 **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.