Aya Gold & Silver Reports Strong Q3-2026 Results on Record Production and Lower Cash Costs

Cut Off Undisclosednegative

Reported composited assay intervals omit the cut-off grade used for those intervals. Apply only to actual reported assay intervals in the reviewed scope, not drilling plans or missing extraction fields alone.

Why it applies: The source reports the drill intercept '3,501 g/t Ag over 3.5 m' but does not disclose the cut-off grade used for compositing this interval.

Cut Off Undisclosednegative

Reported composited assay intervals omit the cut-off grade used for those intervals. Apply only to actual reported assay intervals in the reviewed scope, not drilling plans or missing extraction fields alone.

Why it applies: The source reports the drill intercept '392 g/t AgEq over 24.3 m (BOU-DD26-848)' but does not disclose the cut-off grade used for compositing this interval.

Cut Off Undisclosednegative

Reported composited assay intervals omit the cut-off grade used for those intervals. Apply only to actual reported assay intervals in the reviewed scope, not drilling plans or missing extraction fields alone.

Why it applies: The source reports the drill intercept '593 g/t AgEq over 15.2 m (BOU-DD26-883)' but does not disclose the cut-off grade used for compositing this interval.

Cut Off Undisclosednegative

Reported composited assay intervals omit the cut-off grade used for those intervals. Apply only to actual reported assay intervals in the reviewed scope, not drilling plans or missing extraction fields alone.

Why it applies: The press release reports drill intercepts but does not disclose the cut-off grade used to calculate these composited intervals. The reported drill intercept for Zgounder omits the cut-off grade used.

Cut Off Undisclosednegative

Reported composited assay intervals omit the cut-off grade used for those intervals. Apply only to actual reported assay intervals in the reviewed scope, not drilling plans or missing extraction fields alone.

Why it applies: The press release reports drill intercepts but does not disclose the cut-off grade used to calculate these composited intervals. The reported drill intercepts for Boumadine omit the cut-off grade used.

Cut Off Undisclosednegative

Reported composited assay intervals omit the cut-off grade used for those intervals. Apply only to actual reported assay intervals in the reviewed scope, not drilling plans or missing extraction fields alone.

Why it applies: The press release reports drill intercepts but does not disclose the cut-off grade used to calculate these composited intervals. The reported drill intercepts for Boumadine omit the cut-off grade used.

Bonanza Interceptpositive

An exceptionally high-grade reported intercept reaching the exceptional GRADE_BANDS tier for its commodity and applicable deposit context. Require a disclosed grade and compatible unit; the adjective high-grade alone, a metal-equivalent basket without assumptions, or a planned target does not establish this tag.

Why it applies: A silver grade of 3,501 g/t over 3.5 meters is exceptionally high, placing it in the highest tier for silver grades (500 g/t) according to the GRADE_BANDS rubric.

Bonanza Interceptpositive

An exceptionally high-grade reported intercept reaching the exceptional GRADE_BANDS tier for its commodity and applicable deposit context. Require a disclosed grade and compatible unit; the adjective high-grade alone, a metal-equivalent basket without assumptions, or a planned target does not establish this tag.

Why it applies: The reported silver grade of 3,501 g/t over 3.5 meters at Zgounder exceeds the 500 g/t threshold for a bonanza silver intercept. A silver grade of 3,501 g/t over 3.5 meters is exceptionally high, placing it in the highest tier for silver grades (500 g/t) according to the GRADE_BANDS rubric.

Bonanza Interceptpositive

An exceptionally high-grade reported intercept reaching the exceptional GRADE_BANDS tier for its commodity and applicable deposit context. Require a disclosed grade and compatible unit; the adjective high-grade alone, a metal-equivalent basket without assumptions, or a planned target does not establish this tag.

Why it applies: A silver grade of 3,501 g/t over 3.5 meters is exceptionally high, placing it in the highest tier for silver grades (500 g/t) according to the GRADE_BANDS rubric. The reported silver grade is 3,501 g/t over 3.5 meters.

QA/QC Disclosedpositive

Reported assays have a certified laboratory, actual QA/QC methods, or named QP/CP responsibility. Generic CP boilerplate, old-release references, plans and unrelated work are insufficient. Approval of a correction does not verify expressly unverified historical assays; assay accuracy is not guaranteed.

Why it applies: The press release states that the scientific and technical information has been reviewed and approved by a 'Qualified Person' as defined under NI 43-101.

QA/QC Disclosedpositive

Reported assays have a certified laboratory, actual QA/QC methods, or named QP/CP responsibility. Generic CP boilerplate, old-release references, plans and unrelated work are insufficient. Approval of a correction does not verify expressly unverified historical assays; assay accuracy is not guaranteed.

Why it applies: The press release explicitly names Qualified Persons who reviewed and approved the scientific and technical information. The press release states that the scientific and technical information has been reviewed and approved by a 'Qualified Person' as defined under NI 43-101.

QA/QC Disclosedpositive

Reported assays have a certified laboratory, actual QA/QC methods, or named QP/CP responsibility. Generic CP boilerplate, old-release references, plans and unrelated work are insufficient. Approval of a correction does not verify expressly unverified historical assays; assay accuracy is not guaranteed.

Why it applies: The press release states that the scientific and technical information has been reviewed and approved by a 'Qualified Person' as defined under NI 43-101.

QA/QC Disclosedpositive

Reported assays have a certified laboratory, actual QA/QC methods, or named QP/CP responsibility. Generic CP boilerplate, old-release references, plans and unrelated work are insufficient. Approval of a correction does not verify expressly unverified historical assays; assay accuracy is not guaranteed.

Why it applies: The press release explicitly names Qualified Persons who reviewed and approved the scientific and technical information. The press release states that the scientific and technical information has been reviewed and approved by a 'Qualified Person' as defined under NI 43-101.

QA/QC Disclosedpositive

Reported assays have a certified laboratory, actual QA/QC methods, or named QP/CP responsibility. Generic CP boilerplate, old-release references, plans and unrelated work are insufficient. Approval of a correction does not verify expressly unverified historical assays; assay accuracy is not guaranteed.

Why it applies: The press release states that the scientific and technical information has been reviewed and approved by a 'Qualified Person' as defined under NI 43-101.

QA/QC Disclosedpositive

Reported assays have a certified laboratory, actual QA/QC methods, or named QP/CP responsibility. Generic CP boilerplate, old-release references, plans and unrelated work are insufficient. Approval of a correction does not verify expressly unverified historical assays; assay accuracy is not guaranteed.

Why it applies: The press release explicitly names Qualified Persons who reviewed and approved the scientific and technical information. The press release states that the scientific and technical information has been reviewed and approved by a 'Qualified Person' as defined under NI 43-101.

QA/QC Disclosedpositive

Reported assays have a certified laboratory, actual QA/QC methods, or named QP/CP responsibility. Generic CP boilerplate, old-release references, plans and unrelated work are insufficient. Approval of a correction does not verify expressly unverified historical assays; assay accuracy is not guaranteed.

Why it applies: The press release names specific Qualified Persons who reviewed and approved the scientific and technical information, satisfying the QA/QC disclosure requirement. The document explicitly names the Qualified Persons responsible for reviewing and approving the technical information, which covers the reported drill results.

QA/QC Disclosedpositive

Reported assays have a certified laboratory, actual QA/QC methods, or named QP/CP responsibility. Generic CP boilerplate, old-release references, plans and unrelated work are insufficient. Approval of a correction does not verify expressly unverified historical assays; assay accuracy is not guaranteed.

Why it applies: The press release names specific Qualified Persons who reviewed and approved the scientific and technical information, satisfying the QA/QC disclosure requirement. The document explicitly names the Qualified Persons responsible for reviewing and approving the technical information, which covers the reported drill results.

QA/QC Disclosedpositive

Reported assays have a certified laboratory, actual QA/QC methods, or named QP/CP responsibility. Generic CP boilerplate, old-release references, plans and unrelated work are insufficient. Approval of a correction does not verify expressly unverified historical assays; assay accuracy is not guaranteed.

Why it applies: The press release names specific Qualified Persons who reviewed and approved the scientific and technical information, satisfying the QA/QC disclosure requirement. The document explicitly names the Qualified Persons responsible for reviewing and approving the technical information, which covers the reported drill results.

PEA Onlyneutral

Only Class 4 / Initial Assessment economics available. Not bankable.

Why it applies: The economic study for Boumadine is explicitly titled a Preliminary Economic Assessment (PEA). The economic study for the Boumadine Project is explicitly identified as a Preliminary Economic Assessment (PEA), which is a Class 4 study.

PEA Onlyneutral

Only Class 4 / Initial Assessment economics available. Not bankable.

Why it applies: The economic study for the Boumadine Project is explicitly identified as a Preliminary Economic Assessment (PEA), which is a Class 4 study. The study is explicitly referred to as a Preliminary Economic Assessment (PEA).

High IRRpositive

The disclosed IRR reaches the strong tier or better in IRR_TIERS on its required basis. If the source omits a basis, follow the rubric's reduced-coverage policy and explicitly retain that qualification; do not silently assume real, post-tax or unlevered conventions or compare a known incompatible basis as equivalent.

Why it applies: The disclosed after-tax IRR of 93% is well above the strong tier threshold of 25% for economic studies.

High IRRpositive

The disclosed IRR reaches the strong tier or better in IRR_TIERS on its required basis. If the source omits a basis, follow the rubric's reduced-coverage policy and explicitly retain that qualification; do not silently assume real, post-tax or unlevered conventions or compare a known incompatible basis as equivalent.

Why it applies: The disclosed after-tax IRR of 93% exceeds the 25% threshold for a strong IRR. The disclosed after-tax IRR of 93% is well above the strong tier threshold of 25% for economic studies.

High IRRpositive

The disclosed IRR reaches the strong tier or better in IRR_TIERS on its required basis. If the source omits a basis, follow the rubric's reduced-coverage policy and explicitly retain that qualification; do not silently assume real, post-tax or unlevered conventions or compare a known incompatible basis as equivalent.

Why it applies: The disclosed after-tax IRR of 93% is well above the strong tier threshold of 25% for economic studies.

High IRRpositive

The disclosed IRR reaches the strong tier or better in IRR_TIERS on its required basis. If the source omits a basis, follow the rubric's reduced-coverage policy and explicitly retain that qualification; do not silently assume real, post-tax or unlevered conventions or compare a known incompatible basis as equivalent.

Why it applies: The disclosed after-tax IRR of 93% is well above the strong tier threshold of 25% for economic studies. The after-tax internal rate of return is reported as 93%.

IRR Basis Undisclosednegative

Real vs nominal not stated, so the tier is not comparable across studies.

Why it applies: The basis for the IRR (real vs. nominal) is not stated in the provided text.

IRR Basis Undisclosednegative

Real vs nominal not stated, so the tier is not comparable across studies.

Why it applies: The text discloses an after-tax IRR but does not specify whether it is on a real or nominal basis. The basis for the IRR (real vs. nominal) is not stated in the provided text.

IRR Basis Undisclosednegative

Real vs nominal not stated, so the tier is not comparable across studies.

Why it applies: The basis for the IRR (real vs. nominal) is not stated in the provided text.

IRR Basis Undisclosednegative

Real vs nominal not stated, so the tier is not comparable across studies.

Why it applies: The basis for the IRR (real vs. nominal) is not stated in the provided text. The quotation provides the IRR value but does not specify if it is real or nominal.

Metal Equivalent Opaquenegative

Metal equivalent grade reported without disclosing the price, recovery, or payability assumptions used. Requires an actual metal equivalent grade; a combined elemental basket such as PGE is not a metal equivalent.

Why it applies: The source reports silver equivalent grades for Boumadine drill results (e.g., '392 g/t AgEq over 24.3 m' and '593 g/t AgEq over 15.2 m') but does not disclose the price, recovery, or payability assumptions used to calculate these equivalents.

Apparent Width Onlynegative

A reported assay interval gives downhole or apparent length without a disclosed true width. It describes geometric uncertainty, not a measured true thickness or proof that the interval is overstated; drill orientation alone is not a true-width measurement.

Why it applies: The reported drill intercepts provide downhole lengths (e.g., '3.5 m', '24.3 m', '15.2 m') but do not disclose the true width for any of these intervals.

Apparent Width Onlynegative

A reported assay interval gives downhole or apparent length without a disclosed true width. It describes geometric uncertainty, not a measured true thickness or proof that the interval is overstated; drill orientation alone is not a true-width measurement.

Why it applies: The reported drill intercepts provide downhole lengths (e.g., '3.5 m', '24.3 m', '15.2 m') but do not disclose the true width for any of these intervals.

Infill Drillingneutral

Confirmatory drilling to raise resource confidence, not new discovery.

Why it applies: The source explicitly states that drilling at Boumadine exceeded the '2026 infill drilling target'.

Inferred Heavy FeedRejected · negative

A disclosed material Inferred share of life-of-mine mill feed is supported under PEA_INFERRED_DISCOUNT in the identified study scope. An undisclosed share is unknown, not proof that the feed is Inferred-heavy; do not substitute the project's total resource mix for the mine-plan feed.

Reason: The PEA explicitly states that it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves.

Binding AgreementRejected · positive

The identified product-sale agreement or term sheet is legally binding or executed, with agreement_type binding_full or binding_term_sheet and a supporting quotation. An MOU, LOI, framework, tenement acquisition or an unrelated binding contract is not evidence of binding product offtake.

Reason: The text states that the company 'entered into a term sheet' for the sale, implying a binding agreement.

True Width DisclosedRejected · positive

Actual thickness perpendicular to structure is stated, not just downhole length.

Compositing TransparentRejected · positive

Cut-off grade and internal dilution rules are clearly stated for reported intervals.

No QA/QC DisclosureRejected · negative

Assays lack a certified lab, QA/QC methods and named relevant QP/CP responsibility in the full source. Named CP consent in scope counts; headings or old-release references alone do not. Correction approval does not verify unverified historical assays. Missing fields, partial text, plans or non-assay news prove no gap; never claim QA/QC was not performed.

Step Out ExtensionRejected · positive

Mineralization extended beyond the previously known limit.

Stale Data Re ReleaseRejected · negative

Results are re-announced unchanged, without new assays or substantive reinterpretation. A material correction, withdrawal or new qualification of their location, ownership or reliability is new information, even without new assays. Historical context in a current announcement does not make it stale.

Deleterious Elements PresentRejected · negative

A source-stated penalty, refractory or recovery concern in the fact's scope. Element detection alone, including measured elements explicitly below penalty thresholds, does not trigger this tag. Respect negation and retain a separately stated concern even when another risk is explicitly absent.

Refractory OreRejected · negative

Ore requires oxidation/pressure treatment before recovery — a processing and recovery risk.

Nearology PlayRejected · neutral

The disclosed value premise relies on proximity to another known deposit rather than the issuer's own results. Mere location or along-strike wording in a release that reports its own drilling does not establish this premise.

DFS BankableRejected · positive

The source reports a completed DFS/BFS or feasibility study within the applicable staleness window. Use STUDY_ACCURACY_CLASSES for the disclosed maturity and retain any financing qualifications; an AACE estimate class, a planned study, or the term feasibility alone does not prove that lenders will fund the project.

PFS CompleteRejected · positive

A Pre-Feasibility Study is explicitly complete for the identified project, consistent with STUDY_ACCURACY_CLASSES. Do not infer completion or an AACE class from a planned PFS, a resource estimate, or an unspecified study.

No StudyRejected · negative

The source explicitly establishes that the project economics being discussed have no formal economic study. A news excerpt that omits study details, a missing extracted field or another project's study does not establish this absence.

Stale StudyRejected · negative

Beyond the staleness window measured from the estimate base date.

Resource Governance UndisclosedRejected · negative

The reviewed study lacks material applicable resource-governance disclosures such as QA/QC, top-cut methodology or QP independence. Identify the actual gap and reviewed scope; do not infer it from a missing extraction field, an abridged news item or a method that is not applicable. Any scoring cap belongs to the rubric, not this tag.

NPV Cut Vs Prior StudyRejected · negative

A restated study reduces NPV materially against its own predecessor on the same asset.

Low IRRRejected · negative

The disclosed IRR is below the moderate tier in IRR_TIERS on its required basis. Retain any undisclosed-basis qualification under the rubric's reduced-coverage policy; do not silently normalise a known incompatible basis.

Below Jurisdiction HurdleRejected · negative

IRR below the greenfield or brownfield hurdle for its jurisdiction tier.

Undervalued PNAVRejected · positive

Funding-adjusted P/NAV in the strong tier or better.

Overvalued PNAVRejected · negative

Funding-adjusted P/NAV in the red-flag tier.

Fast PaybackRejected · positive

Disclosed payback reaches the strong tier or better in PAYBACK_TIERS on its required basis. Preserve the cash-flow, discounting and start-date conventions; a short duration on an unknown or incompatible basis does not alone establish this tag.

Slow PaybackRejected · negative

Disclosed payback is in the weak tier or worse in PAYBACK_TIERS on its required basis. Preserve the cash-flow, discounting and start-date conventions; do not equate discounted, construction-start or unknown-basis payback with the required measure.

Bottom Quartile CostRejected · positive

A disclosed comparable cost measure falls in the lowest-cost quartile under COST_CURVE_PERCENTILE_BANDS using an applicable dated commodity benchmark and consistent cost basis. A low absolute cost alone does not establish a curve position.

Top Quartile CostRejected · negative

A disclosed comparable cost measure falls in the highest-cost quartile under COST_CURVE_PERCENTILE_BANDS using an applicable dated commodity benchmark and consistent cost basis. It indicates relative cost exposure, not a forecast that this operation will close first.

Cost Basis UndisclosedRejected · negative

By-product vs co-product not stated, so quartile placement is unreliable.

Low Capital IntensityRejected · positive

Below the benchmark for its project type.

High Capital IntensityRejected · negative

Above the benchmark for its project type.

Conservative PricingRejected · positive

Conservative on the worst of the spot, 3-year and consensus comparisons.

Aggressive PricingRejected · negative

The disclosed price deck is aggressive under PRICE_CONSERVATISM_BANDS against the applicable dated reference prices. This alone does not prove the project only works at that deck; such a claim needs the study's actual price sensitivities.

No Price SensitivityRejected · negative

The reviewed economic-study disclosure supplies no applicable commodity-price sensitivity. State the reviewed scope; missing fields or an abridged release do not prove that the underlying study deliberately omitted sensitivity analysis.

No Discount Rate SensitivityRejected · negative

The reviewed study supplies no disclosed NPV sensitivity across discount rates. This describes a disclosure gap; it does not by itself establish that normalisation is impossible or that the project has poor economics.

Price Deck UnstructuredRejected · neutral

The source supplies price-deck information that cannot be captured as structured price_deck records. A nonempty array of commodity, price and unit records is structured even when real/nominal basis or consensus provenance is undisclosed; do not apply this tag to those separate gaps. This neutral tag describes a representation limitation, not adverse economics.

Long Reserve LifeRejected · positive

Reserve life index in the top tier of the single ladder.

Short Reserve LifeRejected · negative

Reserve life index in the critical tier.

Resource Life UpsideRejected · positive

Wide gap between reserve life and resource life — conversion upside rather than discovery dependence.

Fully FundedRejected · positive

Funding coverage at or above 1.0x counting committed facilities only.

Material Funding GapRejected · negative

Funding coverage below the substantially-funded band.

Funding Gap Exceeds Market CapRejected · negative

A disclosed residual project-funding gap exceeds a comparable contemporaneous issuer market capitalisation, on a consistent currency, ownership and date basis. This flags financing scale relative to equity value, not proof that financing or shareholder upside is impossible.

Encumbered By StreamRejected · negative

An existing stream or royalty reduces attributable NAV and restricts future financing.

Stability AgreementRejected · positive

Fiscal terms fixed, with a term covering the mine life.

High Government TakeRejected · negative

Source-backed total government take exceeds an applicable comparable fiscal benchmark as a share of pre-tax cash flow. Preserve the regime, date and calculation basis; country or jurisdiction tier alone is not evidence of high government take.

Fully PermittedRejected · positive

The source establishes that all material authorisations required for the stated activity and project stage are effective or validly exempt, applicable conditions and financial guarantees are satisfied, and no unresolved challenge or stay prevents that activity. One or two headline approvals do not establish complete project permission.

Permit Challenge OutstandingRejected · negative

An appeal or legal challenge is unresolved, which can defer first production indefinitely.

No Community AgreementRejected · negative

The source establishes that a community or benefit agreement required for the identified project stage remains unsecured. Do not infer the absence, universal legal necessity or an unsupported production date from source silence or a missing extracted field.

Closure UnderprovisionedRejected · negative

A source-backed closure obligation is materially underfunded or below an applicable comparable provision. Identify the obligation, funding basis and supporting evidence; an omitted field or abridged article is not proof of a deficient provision.

Upstream TSFRejected · negative

The source identifies upstream construction for the relevant tailings storage facility. Preserve the specific facility, status and stated risk; the design label alone establishes neither legal prohibition in a jurisdiction nor an actual dam-safety failure.

EIA ApprovedRejected · positive

Require permit_type=eia, permit_status=approved or granted, legal_effect=effective, and no active/unknown stay. A radiological certificate or other secondary approval alone is not an EIA. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Ratification PendingRejected · negative

Require approval_route=parliamentary_ratification, approval_applicability=required, legal_basis and legal_effect=ineffective_pending_approval on the same instrument. Executive approval is a different route. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Conditions OutstandingRejected · negative

Require permit_type=eia or mining_licence, a granted/approved/granted_with_conditions status, conditions_outstanding=true and conditions_summary. Pending applications do not qualify. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Permit RefusedRejected · negative

Require permit_type=eia or mining_licence, permit_status=refused, legal_effect=effective and no active/unknown stay. Distinguish withdrawal of an issued permit. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Permit RevokedRejected · negative

Require permit_status=revoked or withdrawn_by_regulator, legal_effect=effective or revoked, and no active/unknown stay. A threatened revocation or reserved right to challenge is not operative revocation. Require an identified permit/licence/lease, not merely an investment divestment order. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Permit LapsedRejected · negative

Require permit_status=lapsed or not_renewed, legal_effect=effective and no active/unknown stay. A future expiry date is not current lapse. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Permit SuspendedRejected · negative

Require permit_status=suspended, legal_effect=effective or suspended and no active/unknown stay. A filed challenge alone is not suspension. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Legal Challenge LiveRejected · negative

Require challenge_outcome=pending and an actual proceeding_id. A reserved intention to challenge is not a filed proceeding. This tag implies no suspension or invalidity. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Challenge DismissedRejected · positive

Require challenge_outcome=dismissed and the identified proceeding_id. Creates no grant and says nothing about other proceedings. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Blockade ActiveRejected · negative

Require community_signal=injunction_blockade and site_access_status documenting the actual obstruction. Exclude threatened or resolved blockades. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Secondary Permit ContestedRejected · negative

Require a disclosed permit_type other than eia, mining_licence or ratification, and either permit_status=refused or challenge_outcome=pending. Includes a heritage, tailings or water approval under administrative appeal. Unlike legal_challenge_live, this does not require a proceeding_id. An approved heritage plan under appeal is contested, not heritage_clearance_pending. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Key Dependency BlockedRejected · negative

Descriptive only. Require blocking_dependency, dependent_instrument, alternative_status=explicitly_unavailable, alternative_evidence and asserting_party. Unknown, unmentioned or conflicting alternatives do not qualify. Never apply a numerical cap. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Water Permit RefusedRejected · negative

Require permit_type=water, permit_status=refused, legal_effect=effective and no active/unknown stay. Record refusal of that use/source only; no country-based project viability cap. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Water Permit PendingRejected · neutral

Require permit_type=water and permit_status=applied, submitted or under_review. Undisclosed water authorisation or a future plan to apply does not qualify. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Heritage Clearance PendingRejected · neutral

Require permit_type=heritage and permit_status=applied, submitted or under_review. An already approved heritage plan under appeal instead supports secondary_permit_contested when the challenge is pending. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Tailings Approval PendingRejected · neutral

Require permit_type=tailings and permit_status=applied, submitted or under_review. A completed tailings approval does not qualify. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Permitting StalledRejected · negative

Require explicit delay_evidence and stage_unchanged=true. Do not infer either from silence or apply a staleness threshold. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Permit Progress Not AssessedRejected · neutral

Require permit_status=insufficient_evidence with a source quotation explicitly establishing an assessment gap. Do not invent this from silence or an unapproved confidence floor. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Community Support DocumentedRejected · positive

Require community_signal=support, sources_checked, support_coverage_evidence and a non-issuer opposition_source of press, ngo, court_docket or regulator_register. Issuer claims or source silence alone are insufficient. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Benefit Agreement SignedRejected · positive

Require benefit_agreement_status=signed or amended and benefit_enforceability_evidence. Signature alone is not proof of enforceability; a separate signatory authority dispute may coexist. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Benefit Agreement NegotiatingRejected · neutral

Require benefit_agreement_status=negotiating. Exclude completed agreements and generic intentions to engage. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Signatory Authority DisputedRejected · negative

Require signatory_authority_disputed=true with a direct attributed dispute about authority to sign, not a generic project objection. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Community OppositionRejected · negative

Require community_signal=opposition and a quote identifying actual opposition by the stated community members/group. Issuer-reported opposition qualifies as attributed evidence, not independent or community-wide verification. Do not infer opposition from consultation, silence, delay, allegations of harm or unresolved complaints alone. A grievance must explicitly oppose the project, activity or approval to support this tag; retain concerns_raised otherwise. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Grievance BacklogRejected · negative

Require grievance_evidence documenting actual unresolved complaints. Resolved grievances, general grievance procedures and absence of disclosure do not qualify. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Community Not AssessedRejected · neutral

Require community_signal=insufficient_evidence and a source-backed assessment gap. Do not manufacture this from issuer silence or lack of a public-source search. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Foreign Investment ScreeningRejected · neutral

Require source-backed foreign_investment_evidence of an actual foreign-investment review, condition or divestment affecting the identified holder or transaction. The tag records the regulatory process; a routine or pending review alone is not refusal, permit revocation or a negative project outcome. Preserve any stated adverse condition or order in the fact and its evidence. Generic investment risks do not qualify.

Delay Vs NormRejected · negative

Require delay_evidence and jurisdiction_norm_source supporting a comparison for this instrument and regime. A delayed forecast alone is not a measured deviation; no unapproved threshold or numerical score. Every emitted tag needs a short verbatim quotation on the same event; exclude hypothetical or contradicted claims.

Agreement Conditions OutstandingRejected · negative

The source identifies unsatisfied conditions precedent for this product agreement, with conditions_outstanding true and the remaining conditions retained. Do not infer outstanding conditions from standard boilerplate or future tense alone.

Pricing UndisclosedRejected · neutral

Pricing for the identified product agreement is undisclosed or explicitly confidential, reflected in pricing_mechanism undisclosed. This is an evidence gap, not evidence of unfavourable pricing; do not infer it from an unassessed excerpt.

Concentrate Terms UndisclosedRejected · neutral

Requires a concentrate-route product_form with no payables, TC/RC or quotational period disclosed, plus source-scoped absence or redaction evidence for that same agreement/product route. A positive agreement or volume quote alone is insufficient. An evidence gap, not adverse terms.

Qualification PendingRejected · neutral

The buyer's qualification or acceptance process for the identified product remains pending, with qualification_status pending and supporting source evidence. Pending qualification alone is neither failure nor rejection and implies no automatic economics penalty.

Agreement TerminatedRejected · negative

The source states that the identified product agreement was terminated, reflected in agreement_status or event_type terminated. Normal expiry, an optional termination right, a threat, or termination of another agreement does not qualify.

Agreement Exit At A CostRejected · neutral

The identified product agreement has actually been terminated, with agreement_status or event_type terminated, and the source states consideration paid or payable for that exit in exit_consideration_paid or exit_consideration_amount. A fee clause, asset-sale proceeds or an unrelated transaction is not a completed product-agreement exit. The payment does not establish a net loss; removing an onerous commitment can be beneficial.

Delivery RestrictedRejected · negative

A source-stated legal, permit, export or sanctions restriction affects deliveries under this particular product agreement, retained in delivery_restriction_evidence. Generic jurisdiction risk or an unrelated permit event does not qualify.

QP Exposure UnassessedRejected · neutral

A quotational period for the product is disclosed but whether it matches the issuer's sale/pricing exposure is unknown (qp_matched_to_sale unknown). QP here means quotational period, not Qualified Person; missing information alone establishes no mismatch or trading loss.

Counterparty InsolvencyRejected · negative

The source identifies insolvency or administration of the contracting entity, reflected in counterparty_credit_event. A similarly named affiliate, parent or unrelated group company does not establish insolvency of this counterparty.

Payment Or Performance DefaultRejected · negative

The source identifies a payment or performance default event for this counterparty and agreement. Retain attribution, dates and whether it is alleged, admitted or cured; a cured historical event must not be presented as an ongoing default, and generic default clauses do not qualify.

Credit Evidence StaleRejected · neutral

A disclosed credit rating predates a later disclosed credit event for the same entity. Retain the rating date and event date; this indicates the rating may no longer describe current credit, not proof of a downgrade or default.

Guarantee DisclosedRejected · positive

A parent guarantee is explicitly disclosed for the relevant obligations, with parent_guarantee true and guarantor_name identified. This describes an evidenced support arrangement, not proof of guarantor strength, unlimited coverage or full collectability.

Guarantee Scope UnknownRejected · neutral

A guarantee is explicitly disclosed but its covered obligations or extent are not established, with parent_guarantee true and guarantee_scope missing. Do not infer an unlimited guarantee or an absent guarantee from missing scope.

MOU UnconfirmedRejected · neutral

An identified non-binding MOU, LOI or framework has confirmation_status unconfirmed in the supplied evidence. This records lack of confirmation, not legal lapse, termination or an adverse score.

MOU Recently ConfirmedRejected · neutral

The source expressly reaffirms an identified non-binding MOU, LOI or framework, with confirmation_status recently_confirmed. Confirmation does not make it binding or satisfy its conditions.

Prepayment PresentRejected · neutral

The product agreement contains a disclosed prepayment amount or prepayment facility, reflected in prepayment_amount, prepayment_usd or linked_facility_type prepayment. Ordinary payment on delivery, an unrelated lender or a proposed facility without an evidenced agreement does not establish buyer prepayment. It is not a quality bonus.

Offtaker Is FinancierRejected · neutral

The named product buyer also supplies debt, a prepayment, a stream, a royalty investment or equity funding to the issuer/project. Require offtaker_is_financier true and source-backed offtaker_financing_evidence linking that same buyer to the financing; retain the financing type and identity when disclosed. A boolean alone, an unrelated lender, ordinary purchase payments, or a royalty paid to an asset vendor is insufficient. This neutral relationship tag is not a financing-quality score.

Market Route UnclearRejected · neutral

The source explicitly describes an unresolved route to market or buyer access for the product, retained in market_route_evidence. Do not substitute the model's uncertainty or absence of a buyer name for source evidence of an unresolved route.

Coverage Basis UndisclosedRejected · neutral

The agreement discloses a coverage percentage but not the production scope or period to which it applies, with coverage_percent present and coverage_basis undisclosed. The percentage alone does not establish life-of-mine coverage or inadequate coverage.

Coverage OverlapRejected · neutral

The source establishes overlapping committed product volumes or coverage between identified agreements, retained in volume_overlap_evidence. Multiple agreements or percentages alone do not prove double commitment.

Product Assay UnavailableRejected · neutral

Payable terms are disclosed for a concentrate-route product but the saleable-product assay needed to interpret them is not supplied. This is an information limitation, not proof of unacceptable product quality or poor realised pricing.

Benchmark UnavailableRejected · neutral

Payables or TC/RC terms are disclosed but an applicable matched benchmark is not maintained for comparison. This describes the comparison limit of the knowledge base, not missing issuer disclosure or evidence that the commercial terms are below market.