# First Quantum Files NI 43-101 Technical Report for Taca Taca

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d

Original source: https://money.tmx.com/en/quote/FM/news/6186613062895664/first-quantum-files-ni-43-101-technical-report-for-taca-taca

Publisher: tmx

Original announcement: 2026-02-19T22:01:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: First Quantum Minerals Ltd.

- Ticker: FM

- Exchange: TSX

- Region: Salta Province, Argentina

- Primary commodity: Copper

- Secondary commodities: Gold, Molybdenum

- Document categories: Resource update, Economic study

- Extracted: 2026-09-17 22:56:38 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

First Quantum Minerals has filed a new NI 43-101 Technical Report for its Taca Taca copper-gold-molybdenum project in Argentina, effective December 31, 2025. The updated study shows robust economics with an after-tax NPV of $5,917 million and an IRR of 19.3%, based on a 40-60 Mtpa open pit operation over 35 years. Mineral reserves have increased by 13% since the 2021 report, with the project demonstrating low capital intensity and clean concentrates, positioning it as a premier undeveloped copper asset.

Reasoning: The document presents a new NI 43-101 compliant technical report for the Taca Taca project, showing significantly improved economics \(NPV and IRR\) and increased mineral reserves compared to the prior study. The project demonstrates strong potential as a major, long-life copper mine with competitive costs and progress on key de-risking activities like permitting and the RIGI application. While funding is still being evaluated, the overall update is highly positive.

- Positive factor: Strong project economics with high NPV and IRR

- Positive factor: Significant increase in mineral reserves and contained metal

- Positive factor: NI 43-101 compliant technical report provides high confidence

- Positive factor: Progress on permitting and RIGI application in Argentina

- Positive factor: Low capital intensity for a large-scale copper project

- Positive factor: Clean concentrate with low penalty elements

- Negative factor: Funding for the project is not yet fully committed

- Negative factor: QP independence not explicitly stated

Facts used in scoring: 28

## Classification and evidence

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: A current resource fact retains the disclosed cut-off grade

## Extracted facts

Stored fact records: 26. Some facts used in scoring do not have a stored record.

## Resource Estimates (26)

### proven

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-2)

Taca Taca · copper

#### Identity

- Project: Taca Taca
- Commodity: copper
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: reserve
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:591948586cda28f533c5
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: proven
- Tonnes: 432100000
- Grade: 0.58
- Grade Unit: %
- Contained Metal: 2509.5
- Contained Unit: kt

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: This is a high-confidence Proven Reserve for copper, contributing significantly to the project's overall contained metal.

- Positive factor: High confidence category \(Proven\)

- Positive factor: Significant contained metal

Evidence · table

> 0.58

Context: 432.1

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**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

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### proven

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-3)

Taca Taca · molybdenum

#### Identity

- Project: Taca Taca
- Commodity: molybdenum
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: reserve
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:591948586cda28f533c5
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: proven
- Tonnes: 432100000
- Grade: 0.015
- Grade Unit: %
- Contained Metal: 66.8
- Contained Unit: kt

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: This Proven Reserve for molybdenum provides additional value as a byproduct, contributing to the overall project economics.

- Positive factor: High confidence category \(Proven\)

- Positive factor: Adds to polymetallic value

Evidence · table

> 0.015

Context: 432.1

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**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

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### proven

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-4)

Taca Taca · gold

#### Identity

- Project: Taca Taca
- Commodity: gold
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: reserve
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:591948586cda28f533c5
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: proven
- Tonnes: 432100000
- Grade: 0.13
- Grade Unit: g/t
- Contained Metal: 1835.6
- Contained Unit: koz

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: The Proven Reserve for gold adds meaningful byproduct value to the copper project, enhancing overall economics.

- Positive factor: High confidence category \(Proven\)

- Positive factor: Significant contained gold as a byproduct

Evidence · table

> 0.13

Context: 432.1

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**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

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-5)

Taca Taca · copper

#### Identity

- Project: Taca Taca
- Commodity: copper
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: reserve
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:de99a7d953a56201bfbf
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: probable
- Tonnes: 1558000000
- Grade: 0.38
- Grade Unit: %
- Contained Metal: 5919
- Contained Unit: kt

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: This Probable Reserve represents a substantial portion of the project's copper, providing a strong foundation for future development.

- Positive factor: Large tonnage in Probable category

- Positive factor: Significant contained copper metal

Evidence · table

> 0.38

Context: 1,558.0

#### Tags used in scoring

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

**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

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-6)

Taca Taca · molybdenum

#### Identity

- Project: Taca Taca
- Commodity: molybdenum
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: reserve
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:de99a7d953a56201bfbf
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: probable
- Tonnes: 1558000000
- Grade: 0.011
- Grade Unit: %
- Contained Metal: 177.6
- Contained Unit: kt

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: The Probable Reserve for molybdenum contributes to the overall byproduct value of the project.

- Positive factor: Adds to polymetallic value

Evidence · table

> 0.011

Context: 1,558.0

#### Tags used in scoring

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

**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

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-7)

Taca Taca · gold

#### Identity

- Project: Taca Taca
- Commodity: gold
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: reserve
- Effective date: 2022-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:e0d5501c59f9aaa1402e
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: probable
- Tonnes: 1558000000
- Grade: 0.07
- Grade Unit: g/t
- Contained Metal: 3696.6
- Contained Unit: koz

#### Prior Estimate

- Resource Date: 2022-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: The Probable Reserve for gold provides substantial byproduct value, enhancing the project's economic profile.

- Positive factor: Significant contained gold as a byproduct

Evidence · table

> 0.07

Context: 1,558.0

#### Tags used in scoring

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

**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

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

**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 3.1 years before this release

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-8)

Taca Taca · copper

#### Identity

- Project: Taca Taca
- Commodity: copper
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: reserve
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:394025b324d7a1deb9b5
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: probable
- Tonnes: 1990100000
- Grade: 0.42
- Grade Unit: %
- Contained Metal: 8428.5
- Contained Unit: kt

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: The combined Proven and Probable Reserve for copper is substantial and shows a significant increase from the previous estimate, de-risking the project.

- Positive factor: Large total Proven and Probable Reserve

- Positive factor: Significant contained copper metal

- Positive factor: 13% increase in combined Proven and Probable Reserves since 2021

Evidence · table

> 0.42

Context: 1,990.1

#### Tags used in scoring

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

**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

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-9)

Taca Taca · molybdenum

#### Identity

- Project: Taca Taca
- Commodity: molybdenum
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: reserve
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:394025b324d7a1deb9b5
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: probable
- Tonnes: 1990100000
- Grade: 0.012
- Grade Unit: %
- Contained Metal: 244.4
- Contained Unit: kt

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: The combined Proven and Probable Reserve for molybdenum provides additional byproduct value to the project.

- Positive factor: Adds to polymetallic value

Evidence · table

> 0.012

Context: 1,990.1

#### Tags used in scoring

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

**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

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-10)

Taca Taca · gold

#### Identity

- Project: Taca Taca
- Commodity: gold
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: reserve
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:394025b324d7a1deb9b5
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: probable
- Tonnes: 1990100000
- Grade: 0.09
- Grade Unit: g/t
- Contained Metal: 5532.2
- Contained Unit: koz

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: The combined Proven and Probable Reserve for gold adds substantial byproduct value, enhancing the project's economic profile.

- Positive factor: Significant contained gold as a byproduct

Evidence · table

> 0.09

Context: 1,990.1

#### Tags used in scoring

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

**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

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-11)

Taca Taca · copper

#### Identity

- Project: Taca Taca
- Commodity: copper
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:3939422e348ce7269136
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: measured
- Tonnes: 441000000
- Grade: 0.58
- Grade Unit: %
- Contained Metal: 2557
- Contained Unit: kt
- Cutoff Grade: 0.11
- Cutoff Unit: % CuEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Metal Eq. Grade: 0.67
- Metal Eq. Unit: % CuEq
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: This Measured Resource for copper provides a high-confidence estimate, forming a strong basis for future reserve conversion.

- Positive factor: High confidence category \(Measured\)

- Positive factor: Significant contained copper metal

Evidence · table

> 0.58

Context: 441

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-12)

Taca Taca · molybdenum

#### Identity

- Project: Taca Taca
- Commodity: molybdenum
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:3939422e348ce7269136
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: measured
- Tonnes: 441000000
- Grade: 0.015
- Grade Unit: %
- Contained Metal: 68
- Contained Unit: kt
- Cutoff Grade: 0.11
- Cutoff Unit: % CuEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Metal Eq. Grade: 0.67
- Metal Eq. Unit: % CuEq
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: This Measured Resource for molybdenum contributes to the overall byproduct value of the project with high confidence.

- Positive factor: High confidence category \(Measured\)

- Positive factor: Adds to polymetallic value

Evidence · table

> 0.015

Context: 441

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-13)

Taca Taca · gold

#### Identity

- Project: Taca Taca
- Commodity: gold
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:3939422e348ce7269136
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: measured
- Tonnes: 441000000
- Grade: 0.13
- Grade Unit: g/t
- Contained Metal: 1868
- Contained Unit: koz
- Cutoff Grade: 0.11
- Cutoff Unit: % CuEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Metal Eq. Grade: 0.67
- Metal Eq. Unit: % CuEq
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: The Measured Resource for gold provides substantial byproduct value with high confidence, enhancing the project's economic profile.

- Positive factor: High confidence category \(Measured\)

- Positive factor: Significant contained gold as a byproduct

Evidence · table

> 0.13

Context: 441

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-14)

Taca Taca · copper

#### Identity

- Project: Taca Taca
- Commodity: copper
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:3939422e348ce7269136
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: measured
- Tonnes: 441000000
- Grade: 0.58
- Grade Unit: %
- Cutoff Grade: 0.11
- Cutoff Unit: % CuEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Metal Eq. Grade: 0.67
- Metal Eq. Unit: CuEq \(%\)
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: The Measured Resource for copper equivalent provides a high-confidence combined value for the polymetallic deposit.

- Positive factor: High confidence category \(Measured\)

- Positive factor: Metal equivalent provides combined value perspective

Evidence · table

> 0.58

Context: 441

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-15)

Taca Taca · copper

#### Identity

- Project: Taca Taca
- Commodity: copper
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:5aef77800181d40f3695
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: indicated
- Tonnes: 1637000000
- Grade: 0.38
- Grade Unit: %
- Contained Metal: 6159
- Contained Unit: kt
- Cutoff Grade: 0.11
- Cutoff Unit: % CuEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Metal Eq. Grade: 0.43
- Metal Eq. Unit: % CuEq
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: This Indicated Resource for copper represents a substantial portion of the project's metal, providing reasonable geological confidence.

- Positive factor: Large tonnage in Indicated category

- Positive factor: Significant contained copper metal

Evidence · table

> 0.38

Context: 1,637

#### 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-16)

Taca Taca · molybdenum

#### Identity

- Project: Taca Taca
- Commodity: molybdenum
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:5aef77800181d40f3695
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: indicated
- Tonnes: 1637000000
- Grade: 0.011
- Grade Unit: %
- Contained Metal: 185
- Contained Unit: kt
- Cutoff Grade: 0.11
- Cutoff Unit: % CuEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Metal Eq. Grade: 0.43
- Metal Eq. Unit: % CuEq
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: This Indicated Resource for molybdenum contributes to the overall byproduct value of the project.

- Positive factor: Adds to polymetallic value

Evidence · table

> 0.011

Context: 1,637

#### 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-17)

Taca Taca · gold

#### Identity

- Project: Taca Taca
- Commodity: gold
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:5aef77800181d40f3695
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: indicated
- Tonnes: 1637000000
- Grade: 0.07
- Grade Unit: g/t
- Contained Metal: 3847
- Contained Unit: koz
- Cutoff Grade: 0.11
- Cutoff Unit: % CuEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Metal Eq. Grade: 0.43
- Metal Eq. Unit: % CuEq
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: The Indicated Resource for gold provides substantial byproduct value, enhancing the project's economic profile.

- Positive factor: Significant contained gold as a byproduct

Evidence · table

> 0.07

Context: 1,637

#### 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-18)

Taca Taca · copper

#### Identity

- Project: Taca Taca
- Commodity: copper
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:5aef77800181d40f3695
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: indicated
- Tonnes: 1637000000
- Grade: 0.38
- Grade Unit: %
- Cutoff Grade: 0.11
- Cutoff Unit: % CuEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Metal Eq. Grade: 0.43
- Metal Eq. Unit: CuEq \(%\)
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: The Indicated Resource for copper equivalent provides a combined value for the polymetallic deposit with reasonable confidence.

- Positive factor: Metal equivalent provides combined value perspective

Evidence · table

> 0.38

Context: 1,637

#### 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-19)

Taca Taca · copper

#### Identity

- Project: Taca Taca
- Commodity: copper
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:3febf7ea10bc3d6fb61f
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: indicated
- Tonnes: 2078000000
- Grade: 0.42
- Grade Unit: %
- Contained Metal: 8716
- Contained Unit: kt
- Cutoff Grade: 0.11
- Cutoff Unit: % CuEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Metal Eq. Grade: 0.48
- Metal Eq. Unit: % CuEq
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: The combined Measured and Indicated Resource for copper is substantial, providing a strong and confident resource base for the project.

- Positive factor: Large total Measured and Indicated Resource

- Positive factor: Significant contained copper metal

Evidence · table

> 0.42

Context: 2,078

#### 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-20)

Taca Taca · molybdenum

#### Identity

- Project: Taca Taca
- Commodity: molybdenum
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:3febf7ea10bc3d6fb61f
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: indicated
- Tonnes: 2078000000
- Grade: 0.012
- Grade Unit: %
- Contained Metal: 253
- Contained Unit: kt
- Cutoff Grade: 0.11
- Cutoff Unit: % CuEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Metal Eq. Grade: 0.48
- Metal Eq. Unit: % CuEq
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: The combined Measured and Indicated Resource for molybdenum contributes to the overall byproduct value of the project.

- Positive factor: Adds to polymetallic value

Evidence · table

> 0.012

Context: 2,078

#### 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-21)

Taca Taca · gold

#### Identity

- Project: Taca Taca
- Commodity: gold
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:3febf7ea10bc3d6fb61f
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: indicated
- Tonnes: 2078000000
- Grade: 0.09
- Grade Unit: g/t
- Contained Metal: 5715
- Contained Unit: koz
- Cutoff Grade: 0.11
- Cutoff Unit: % CuEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Metal Eq. Grade: 0.48
- Metal Eq. Unit: % CuEq
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: The combined Measured and Indicated Resource for gold provides substantial byproduct value, enhancing the project's economic profile.

- Positive factor: Significant contained gold as a byproduct

Evidence · table

> 0.09

Context: 2,078

#### 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-22)

Taca Taca · copper

#### Identity

- Project: Taca Taca
- Commodity: copper
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:3febf7ea10bc3d6fb61f
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: indicated
- Tonnes: 2078000000
- Grade: 0.42
- Grade Unit: %
- Cutoff Grade: 0.11
- Cutoff Unit: % CuEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Metal Eq. Grade: 0.48
- Metal Eq. Unit: CuEq \(%\)
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: The combined Measured and Indicated Resource for copper equivalent provides a confident combined value for the polymetallic deposit.

- Positive factor: Metal equivalent provides combined value perspective

Evidence · table

> 0.42

Context: 2,078

#### 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-23)

Taca Taca · copper

#### Identity

- Project: Taca Taca
- Commodity: copper
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:04a5623f34b73a5383f0
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: inferred
- Tonnes: 145000000
- Grade: 0.27
- Grade Unit: %
- Contained Metal: 389
- Contained Unit: kt
- Cutoff Grade: 0.11
- Cutoff Unit: % CuEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Metal Eq. Grade: 0.31
- Metal Eq. Unit: % CuEq
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: This Inferred Resource for copper provides additional potential but has lower geological confidence compared to Measured and Indicated categories.

- Positive factor: Adds to overall resource base

- Negative factor: Lower confidence category \(Inferred\)

Evidence · table

> 0.27

Context: 145

#### 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-24)

Taca Taca · molybdenum

#### Identity

- Project: Taca Taca
- Commodity: molybdenum
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:04a5623f34b73a5383f0
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: inferred
- Tonnes: 145000000
- Grade: 0.007
- Grade Unit: %
- Contained Metal: 10
- Contained Unit: kt
- Cutoff Grade: 0.11
- Cutoff Unit: % CuEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Metal Eq. Grade: 0.31
- Metal Eq. Unit: % CuEq
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: This Inferred Resource for molybdenum provides additional byproduct potential but with lower confidence.

- Positive factor: Adds to polymetallic value

- Negative factor: Lower confidence category \(Inferred\)

Evidence · table

> 0.007

Context: 145

#### 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-25)

Taca Taca · gold

#### Identity

- Project: Taca Taca
- Commodity: gold
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:04a5623f34b73a5383f0
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: inferred
- Tonnes: 145000000
- Grade: 0.06
- Grade Unit: g/t
- Contained Metal: 263
- Contained Unit: koz
- Cutoff Grade: 0.11
- Cutoff Unit: % CuEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Metal Eq. Grade: 0.31
- Metal Eq. Unit: % CuEq
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: This Inferred Resource for gold provides additional byproduct potential but with lower geological confidence.

- Positive factor: Adds to overall resource base

- Negative factor: Lower confidence category \(Inferred\)

Evidence · table

> 0.06

Context: 145

#### 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-26)

Taca Taca · copper

#### Identity

- Project: Taca Taca
- Commodity: copper
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:04a5623f34b73a5383f0
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: inferred
- Tonnes: 145000000
- Grade: 0.27
- Grade Unit: %
- Cutoff Grade: 0.11
- Cutoff Unit: % CuEq

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Metal Eq. Grade: 0.31
- Metal Eq. Unit: CuEq \(%\)
- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: The Inferred Resource for copper equivalent provides additional combined value but with lower confidence.

- Positive factor: Metal equivalent provides combined value perspective

- Negative factor: Lower confidence category \(Inferred\)

Evidence · table

> 0.27

Context: 145

#### 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 Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-quantum-files-ni-43-101-technical-report-for-taca-taca--9ca74940-6db9-46b8-b824-816acebc250d#fact-resource-facts-27)

Taca Taca · gold

#### Identity

- Project: Taca Taca
- Commodity: gold
- Region: argentina
- Reported Region: Salta Province, Argentina
- Ticker: FM

#### Resource scope

- Estimate type: reserve
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: David Gray, Michael Lawlor
- Resource group id: resource:de99a7d953a56201bfbf
- Mining method: open\_pit
- Ownership percent: 100 %
- Resource basis: gross

#### Resource Data

- Category: probable
- Tonnes: 1558000000
- Grade: 0.07
- Grade Unit: g/t

#### Prior Estimate

- Resource Date: 2025-12-31

#### Metal Equivalent

- Assumptions Disclosed: Yes

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-02-19T00:00:00.000Z

Reasoning: This Probable Reserve represents a substantial portion of the project's copper, providing a strong foundation for future development. \(Expanded from multi-commodity resource table for completeness.\)

- Positive factor: Large tonnage in Probable category

- Positive factor: Significant contained copper metal

Evidence · table

> 0.07

Context: 1,558.0

#### Tags used in scoring

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

**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

**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: qp\_signed is true

**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

**Resource Update**

Polarity: neutral

Definition: Revised estimate for an existing resource — compare to prior to assess progress.

Why it applies: the release compares against a previous estimate

## 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.