# METALLA REPORTS FINANCIAL RESULTS FOR THE FIRST QUARTER OF 2025 AND PROVIDES ASSET UPDATES

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c

Original source: https://money.tmx.com/en/quote/MTA/news/5494882075945686/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass

Publisher: tmx

Original announcement: 2025-05-15T20:30:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Metalla Royalty & Streaming Ltd.

- Ticker: MTA

- Exchange: TSX

- Region: Unavailable

- Primary commodity: Gold

- Secondary commodities: Silver, Copper, Lead, Zinc, Nickel, Molybdenum, Platinum group elements

- Document categories: Resource update, Production, Drill results

- Extracted: 2026-09-18 11:13:34 UTC

Narrative sentiment: 0.30 · Bullish

## Minestarters Atlas summary

Metalla Royalty & Streaming Ltd. reported its financial and operating results for the first quarter of 2025, including 628 attributable Gold Equivalent Ounces \(GEOs\) at an average realized price of $2,855 and an average cash cost of $11 per GEO, resulting in a strong operating cash margin. The company also provided updates on its royalty assets, highlighting significant resource and reserve increases at Tocantinzinho, Wharf, Wasamac, Gurupi, West Wall, Dundonald, and La Parrilla. Additionally, promising drill results were reported from exploration programs at Aranzazu, Endeavor, Tower Mountain, and Saturday Night, indicating continued growth and de-risking of its portfolio.

Reasoning: The document reports solid financial results for Q1 2025, including positive Adjusted EBITDA and a strong operating cash margin. It also provides numerous asset updates, highlighting significant resource and reserve increases for several key projects \(Tocantinzinho, Wharf, Wasamac, Gurupi, West Wall, Dundonald, La Parrilla\) and positive drill results from exploration programs \(Aranzazu, Endeavor, Tower Mountain, Saturday Night\). While some production figures were lower than prior periods, the overall picture is one of continued progress and growth in the company's royalty portfolio.

- Positive factor: Positive financial results with strong operating cash margin

- Positive factor: Significant resource and reserve updates for multiple projects, including new reserve declarations

- Positive factor: Promising drill intercepts reported for exploration targets

- Positive factor: Mine life extension at Aranzazu

- Positive factor: Progress on project development and permitting for several assets

- Negative factor: GEOs from Wharf were considerably lower in Q1 2025 compared to Q1 2024

- Negative factor: Production decline at Aranzazu attributed to mine sequencing, maintenance, and lower copper recoveries

- Negative factor: Some resource updates are for Inferred categories, which are less confident

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 41

## Classification and evidence

**Resource Update**

Polarity: neutral

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

Why it applies: The source explicitly discloses a revised resource estimate

Evidence · text

> updated Mineral Resource

## Extracted facts

Stored fact records: 39. Some facts used in scoring do not have a stored record.

## Drill Results (15)

### Fact 1

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-drill-facts-11)

Aranzazu · copper

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Aranzazu
- Commodity: copper
- Region: canada
- Reported Region: canada
- Ticker: MTA

#### Geometry

- Grade: 0.6
- Grade Unit: %
- Intercept: 20 m

#### Classification

- Sample Type: drill

#### QA/QC

- QP Signed: Yes

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: A drill intercept at Aranzazu showed a strong copper grade over a good width, confirming mineralization continuity.

- Positive factor: Good copper grade over a significant width

- Positive factor: Confirms continuity of mineralized skarn at depth

Evidence · text

> 0.6% copper, 0.24 g/t gold, and 7 g/t silver over 20 meters

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**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

### Fact 2

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-drill-facts-12)

Aranzazu · gold

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Aranzazu
- Commodity: gold
- Region: canada
- Reported Region: canada
- Ticker: MTA

#### Geometry

- Grade: 0.24
- Grade Unit: g/t
- Intercept: 20 m

#### Classification

- Sample Type: drill
- Group ID: Aranzazu:20m

#### QA/QC

- QP Signed: Yes

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: A drill intercept at Aranzazu showed a gold grade over a good width, confirming mineralization continuity.

- Positive factor: Confirms continuity of mineralized skarn at depth

Evidence · text

> 0.6% copper, 0.24 g/t gold, and 7 g/t silver over 20 meters

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**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

### Fact 3

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-drill-facts-13)

Aranzazu · silver

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Aranzazu
- Commodity: silver
- Region: canada
- Reported Region: canada
- Ticker: MTA

#### Geometry

- Grade: 7
- Grade Unit: g/t
- Intercept: 20 m

#### Classification

- Sample Type: drill
- Group ID: Aranzazu:20m

#### QA/QC

- QP Signed: Yes

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: A drill intercept at Aranzazu showed a silver grade over a good width, confirming mineralization continuity.

- Positive factor: Confirms continuity of mineralized skarn at depth

Evidence · text

> 0.6% copper, 0.24 g/t gold, and 7 g/t silver over 20 meters

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**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

### Fact 4

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-drill-facts-14)

Aranzazu · copper

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Aranzazu
- Commodity: copper
- Region: canada
- Reported Region: canada
- Ticker: MTA

#### Geometry

- Grade: 0.75
- Grade Unit: %
- Intercept: 6.5 m

#### Classification

- Sample Type: drill

#### QA/QC

- QP Signed: Yes

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: A drill intercept at Aranzazu showed a strong copper grade over a moderate width, confirming mineralization continuity.

- Positive factor: Good copper grade over a moderate width

- Positive factor: Confirms continuity of mineralized skarn at depth

Evidence · text

> 0.75% copper, 0.47 g/t gold, and 7 g/t silver over 6.5 meters

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**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

### Fact 5

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-drill-facts-15)

Aranzazu · gold

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Aranzazu
- Commodity: gold
- Region: canada
- Reported Region: canada
- Ticker: MTA

#### Geometry

- Grade: 0.47
- Grade Unit: g/t
- Intercept: 6.5 m

#### Classification

- Sample Type: drill
- Group ID: Aranzazu:6.5m

#### QA/QC

- QP Signed: Yes

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: A drill intercept at Aranzazu showed a gold grade over a moderate width, confirming mineralization continuity.

- Positive factor: Confirms continuity of mineralized skarn at depth

Evidence · text

> 0.75% copper, 0.47 g/t gold, and 7 g/t silver over 6.5 meters

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**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

### Fact 6

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-drill-facts-16)

Aranzazu · silver

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Aranzazu
- Commodity: silver
- Region: canada
- Reported Region: canada
- Ticker: MTA

#### Geometry

- Grade: 7
- Grade Unit: g/t
- Intercept: 6.5 m

#### Classification

- Sample Type: drill
- Group ID: Aranzazu:6.5m

#### QA/QC

- QP Signed: Yes

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: A drill intercept at Aranzazu showed a silver grade over a moderate width, confirming mineralization continuity.

- Positive factor: Confirms continuity of mineralized skarn at depth

Evidence · text

> 0.75% copper, 0.47 g/t gold, and 7 g/t silver over 6.5 meters

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**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

### Fact 7

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-drill-facts-17)

Endeavor · silver

#### Identity

- Project: Endeavor
- Commodity: silver
- Region: canada
- Reported Region: canada
- Ticker: MTA

#### Geometry

- Grade: 180
- Grade Unit: g/t

#### Classification

- Sample Type: bulk

#### QA/QC

- QP Signed: Yes

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: The first stope blast at Endeavor yielded high-grade silver, indicating strong initial production potential.

- Positive factor: High silver grade from initial stope blast

- Positive factor: Indicates good initial production potential

Evidence · text

> diluted block grades of 180 g/t silver, 6% zinc and 3.8% lead

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**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

### Fact 8

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-drill-facts-18)

Endeavor · zinc

#### Identity

- Project: Endeavor
- Commodity: zinc
- Region: canada
- Reported Region: canada
- Ticker: MTA

#### Geometry

- Grade: 6
- Grade Unit: %

#### Classification

- Sample Type: bulk
- Group ID: Endeavor:stope\_blast

#### QA/QC

- QP Signed: Yes

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: The first stope blast at Endeavor yielded high-grade zinc, indicating strong initial production potential.

- Positive factor: High zinc grade from initial stope blast

- Positive factor: Indicates good initial production potential

Evidence · text

> diluted block grades of 180 g/t silver, 6% zinc and 3.8% lead

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**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

### Fact 9

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-drill-facts-19)

Endeavor · lead

#### Identity

- Project: Endeavor
- Commodity: lead
- Region: canada
- Reported Region: canada
- Ticker: MTA

#### Geometry

- Grade: 3.8
- Grade Unit: %

#### Classification

- Sample Type: bulk
- Group ID: Endeavor:stope\_blast

#### QA/QC

- QP Signed: Yes

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: The first stope blast at Endeavor yielded high-grade lead, indicating strong initial production potential.

- Positive factor: High lead grade from initial stope blast

- Positive factor: Indicates good initial production potential

Evidence · text

> diluted block grades of 180 g/t silver, 6% zinc and 3.8% lead

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**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

### Fact 10

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-drill-facts-35)

Tower Mountain · gold

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Tower Mountain
- Commodity: gold
- Region: canada
- Reported Region: canada
- Ticker: MTA

#### Geometry

- Grade: 1.93
- Grade Unit: g/t
- Intercept: 54.2 m

#### Classification

- Sample Type: drill

#### QA/QC

- QP Signed: Yes

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: A drill intercept at Tower Mountain showed a strong gold grade over a substantial width.

- Positive factor: Good gold grade over a significant width

Evidence · text

> 1.93 g/t gold over 54.2 meters

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**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

### Fact 11

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-drill-facts-36)

Tower Mountain · gold

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Tower Mountain
- Commodity: gold
- Region: canada
- Reported Region: canada
- Ticker: MTA

#### Geometry

- Grade: 3.64
- Grade Unit: g/t
- Intercept: 10.5 m

#### Classification

- Sample Type: drill

#### QA/QC

- QP Signed: Yes

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: A high-grade gold intercept was reported within a broader mineralized zone at Tower Mountain.

- Positive factor: High gold grade over a good width

Evidence · text

> 3.64 g/t gold over 10.5 meters

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**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

### Fact 12

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-drill-facts-37)

Tower Mountain · gold

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Tower Mountain
- Commodity: gold
- Region: canada
- Reported Region: canada
- Ticker: MTA

#### Geometry

- Grade: 1.77
- Grade Unit: g/t
- Intercept: 25.5 m

#### Classification

- Sample Type: drill

#### QA/QC

- QP Signed: Yes

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: Another drill intercept at Tower Mountain showed a good gold grade over a significant width.

- Positive factor: Good gold grade over a significant width

Evidence · text

> 1.77 g/t gold over 25.5 meters

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**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

### Fact 13

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-drill-facts-38)

Tower Mountain · gold

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Tower Mountain
- Commodity: gold
- Region: canada
- Reported Region: canada
- Ticker: MTA

#### Geometry

- Grade: 3.55
- Grade Unit: g/t
- Intercept: 7.6 m

#### Classification

- Sample Type: drill

#### QA/QC

- QP Signed: Yes

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: A high-grade gold intercept was reported within a broader mineralized zone at Tower Mountain.

- Positive factor: High gold grade over a good width

Evidence · text

> 3.55 g/t gold over 7.6 meters

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**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

### Fact 14

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-drill-facts-39)

Saturday Night · platinum group elements

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Saturday Night
- Commodity: platinum group elements
- Region: canada
- Reported Region: canada
- Ticker: MTA

#### Geometry

- Grade: 1.04
- Grade Unit: g/t
- Intercept: 14 m

#### Classification

- Sample Type: drill

#### QA/QC

- QP Signed: Yes

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: A drill intercept at Saturday Night confirmed a significant PGE mineralized interval over a good width.

- Positive factor: Good PGE grade over a significant width

- Positive factor: Confirms significant Ni-Cu-PGM mineralized interval

Evidence · text

> 1.04 g/t PGEs \(gold, platinum and palladium\) with 0.19% copper over 14 meters

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**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

### Fact 15

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-drill-facts-40)

Saturday Night · copper

Needs review: drill\_no\_hole\_id

#### Identity

- Project: Saturday Night
- Commodity: copper
- Region: canada
- Reported Region: canada
- Ticker: MTA

#### Geometry

- Grade: 0.19
- Grade Unit: %
- Intercept: 14 m

#### Classification

- Sample Type: drill
- Group ID: Saturday Night:14m

#### QA/QC

- QP Signed: Yes

#### Review

- Needs Review: Yes
- Review Reason: drill\_no\_hole\_id
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: A drill intercept at Saturday Night confirmed a copper mineralized interval over a good width as part of a polymetallic zone.

- Positive factor: Confirms significant Ni-Cu-PGM mineralized interval

Evidence · text

> 0.19% copper over 14 meters

Context: 1.04 g/t PGEs \(gold, platinum and palladium\) with

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**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

## Resource Estimates (24)

### proven

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-2)

Tocantinzinho · gold

#### Identity

- Project: Tocantinzinho
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: reserve
- Effective date: 2024-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- Resource group id: resource:2b9af3d14b89499ce715

#### Resource Data

- Category: proven
- Grade: 1.23
- Grade Unit: g/t
- Contained Metal: 1.06
- Contained Unit: moz

#### Prior Estimate

- Resource Date: 2024-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: The Tocantinzinho project reported substantial Proven Mineral Reserves, indicating a high level of confidence in the resource.

- Positive factor: Significant Proven Mineral Reserves declared

- Positive factor: High confidence category

Evidence · text

> Proven Mineral Reserves totaled 1.06 Moz at 1.23 g/t gold

#### 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

**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

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-3)

Tocantinzinho · gold

#### Identity

- Project: Tocantinzinho
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: reserve
- Effective date: 2024-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- Resource group id: resource:0e06c4410cb456d382b7

#### Resource Data

- Category: probable
- Grade: 1.24
- Grade Unit: g/t
- Contained Metal: 0.97
- Contained Unit: moz

#### Prior Estimate

- Resource Date: 2024-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: The Tocantinzinho project reported substantial Probable Mineral Reserves, adding to the overall resource base.

- Positive factor: Significant Probable Mineral Reserves declared

Evidence · text

> Probable Mineral Reserves totaled 0.97 Moz at 1.24 g/t gold

#### 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

**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

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-4)

Tocantinzinho · gold

#### Identity

- Project: Tocantinzinho
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Effective date: 2024-12-31T00:00:00.000Z
- Reporting standards: other
- Resource group id: resource:d13cbacbdecbfd403f61

#### Resource Data

- Category: measured
- Grade: 1.21
- Grade Unit: g/t
- Contained Metal: 1.07
- Contained Unit: moz

#### Prior Estimate

- Resource Date: 2024-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: The Tocantinzinho project reported substantial Measured Resources, indicating a high level of geological confidence.

- Positive factor: Significant Measured Resources declared

Evidence · text

> Measured Resources totaled 1.07 Moz at 1.21 g/t gold

#### 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 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

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-5)

Tocantinzinho · gold

#### Identity

- Project: Tocantinzinho
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Effective date: 2024-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- Resource group id: resource:c31f794ff592fa2867b5

#### Resource Data

- Category: indicated
- Grade: 1.22
- Grade Unit: g/t
- Contained Metal: 1.11
- Contained Unit: moz

#### Prior Estimate

- Resource Date: 2024-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: The Tocantinzinho project reported substantial Indicated Resources, contributing to the overall resource base.

- Positive factor: Significant Indicated Resources declared

Evidence · text

> Indicated Resources totaled 1.11 Moz gold at 1.22 g/t gold

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-6)

Tocantinzinho · gold

#### Identity

- Project: Tocantinzinho
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Effective date: 2024-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- Resource group id: resource:d52969bf0a102d8aee7c

#### Resource Data

- Category: inferred
- Grade: 1.12
- Grade Unit: g/t
- Contained Metal: 27
- Contained Unit: koz

#### Prior Estimate

- Resource Date: 2024-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: The Tocantinzinho project reported Inferred Resources, which are less confident but indicate potential for future conversion.

- Negative factor: Inferred category has high geological uncertainty

Evidence · text

> Inferred Resources totaled 27 Koz at 1.12 g/t gold

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-7)

Wharf · gold

#### Identity

- Project: Wharf
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: reserve
- Effective date: 2024-12-31T00:00:00.000Z
- Resource group id: resource:94c8b334681dbce3be17

#### Resource Data

- Category: probable
- Grade: 0.81
- Grade Unit: g/t
- Contained Metal: 757
- Contained Unit: koz

#### Prior Estimate

- Resource Date: 2024-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: The Wharf mine reported substantial Proven and Probable Reserves, which were increased due to mine optimization initiatives.

- Positive factor: Significant Proven and Probable Reserves declared

- Positive factor: Mine optimization initiatives led to resource increases

Evidence · text

> Proven and Probable Reserves totaled 757 Koz at 0.81 g/t gold

#### 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

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-8)

Wharf · gold

#### Identity

- Project: Wharf
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Effective date: 2024-12-31T00:00:00.000Z
- Resource group id: resource:76d6ed764b4cb464ef02

#### Resource Data

- Category: measured
- Grade: 0.53
- Grade Unit: g/t
- Contained Metal: 175
- Contained Unit: koz

#### Prior Estimate

- Resource Date: 2024-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: Measured Resources at Wharf significantly increased, indicating improved geological confidence.

- Positive factor: Measured Resources more than doubled due to mine optimization

Evidence · text

> Measured Resources totaled 175 Koz at 0.53 g/t gold

#### 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 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

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-9)

Wharf · gold

#### Identity

- Project: Wharf
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Effective date: 2024-12-31T00:00:00.000Z
- Resource group id: resource:54050d0076ed73e6ab34

#### Resource Data

- Category: indicated
- Grade: 0.53
- Grade Unit: g/t
- Contained Metal: 845
- Contained Unit: koz

#### Prior Estimate

- Resource Date: 2024-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: Indicated Resources at Wharf significantly increased, contributing to the overall resource base.

- Positive factor: Indicated Resources more than doubled due to mine optimization

Evidence · text

> Indicated Resources totaled 845 Koz at 0.53 g/t gold

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-10)

Wharf · gold

#### Identity

- Project: Wharf
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Effective date: 2024-12-31T00:00:00.000Z
- Resource group id: resource:df12e58d60d206f87abd

#### Resource Data

- Category: inferred
- Grade: 0.56
- Grade Unit: g/t
- Contained Metal: 470
- Contained Unit: koz

#### Prior Estimate

- Resource Date: 2024-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: Inferred Resources at Wharf significantly increased, indicating potential for future conversion and expansion.

- Positive factor: Inferred Resources more than tripled due to mine optimization

- Negative factor: Inferred category has high geological uncertainty

Evidence · text

> Inferred Resources totaled 470 Koz at 0.56 g/t gold

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-20)

Wasamac · gold

#### Identity

- Project: Wasamac
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: reserve
- Resource group id: resource:af080427abe4bfaa4723
- Deposit or zone: AK

#### Resource Data

- Category: probable
- Grade: 2.9
- Grade Unit: g/t
- Contained Metal: 1.38
- Contained Unit: moz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: Wasamac announced its first Proven and Probable Mineral Reserves, a significant de-risking event for the project with a high gold grade.

- Positive factor: Inaugural declaration of significant Proven and Probable Mineral Reserves

- Positive factor: High gold grade for reserves

Evidence · text

> inaugural declaration of Proven and Probable Mineral Reserves of 1.38 Moz at 2.9 g/t gold

#### 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

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-21)

Wasamac · gold

#### Identity

- Project: Wasamac
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:9c519e279b6902ea7eb4
- Deposit or zone: AK

#### Resource Data

- Category: indicated
- Grade: 2.19
- Grade Unit: g/t
- Contained Metal: 667
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: Wasamac announced substantial Indicated Resources, adding to the project's overall resource base with a good gold grade.

- Positive factor: Significant Indicated Resources declared

- Positive factor: Good gold grade for resources

Evidence · text

> Indicated Resources of 667 Koz at 2.19 g/t gold \(exclusive\)

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-22)

Wasamac · gold

#### Identity

- Project: Wasamac
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:5e56959f1c38bfd644ed
- Deposit or zone: AK

#### Resource Data

- Category: inferred
- Grade: 1.65
- Grade Unit: g/t
- Contained Metal: 312
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: Wasamac announced Inferred Resources, which provide exploration upside but have lower confidence.

- Negative factor: Inferred category has high geological uncertainty

Evidence · text

> Inferred Resources of 312 Koz at 1.65 g/t gold

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-23)

Gurupi · gold

#### Identity

- Project: Gurupi
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:75d9cd4ca70e78d168fd

#### Resource Data

- Category: indicated
- Grade: 1.31
- Grade Unit: g/t
- Contained Metal: 1.83
- Contained Unit: moz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: Gurupi reported substantial Indicated Resources, contributing significantly to the project's resource base.

- Positive factor: Significant Indicated Resources declared

Evidence · text

> Indicated Resources of 1.83 Moz at 1.31 g/t gold

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-24)

Gurupi · gold

#### Identity

- Project: Gurupi
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:6c4592c793ac6e2ea26c

#### Resource Data

- Category: inferred
- Grade: 1.29
- Grade Unit: g/t
- Contained Metal: 770
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: Gurupi reported significant Inferred Resources, providing exploration upside but with lower confidence.

- Negative factor: Inferred category has high geological uncertainty

Evidence · text

> Inferred Resources of 770 Koz at 1.29 g/t gold

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-25)

West Wall · copper

#### Identity

- Project: West Wall
- Commodity: copper
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:88f3186c7ca796899ea7

#### Resource Data

- Category: indicated
- Tonnes: 891000000
- Grade: 0.5
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: West Wall saw a substantial increase in Indicated Mineral Resources for copper, reflecting updated economic assumptions and pit optimization.

- Positive factor: Significant increase in Indicated Mineral Resources

- Positive factor: Large tonnage of copper

Evidence · text

> Indicated Mineral Resources grew to 891 Mt at 0.50% copper

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**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

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-26)

West Wall · gold

#### Identity

- Project: West Wall
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:88f3186c7ca796899ea7

#### Resource Data

- Category: indicated
- Tonnes: 891000000
- Grade: 0.04
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: West Wall saw an increase in Indicated Mineral Resources for gold, reflecting updated economic assumptions and pit optimization.

- Positive factor: Significant increase in Indicated Mineral Resources

Evidence · text

> 0.04 g/t gold

Context: Indicated Mineral Resources grew to 891 Mt at 0.50% copper

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**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

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-27)

West Wall · molybdenum

#### Identity

- Project: West Wall
- Commodity: molybdenum
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:88f3186c7ca796899ea7

#### Resource Data

- Category: indicated
- Tonnes: 891000000
- Grade: 0.01
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: West Wall saw an increase in Indicated Mineral Resources for molybdenum, reflecting updated economic assumptions and pit optimization.

- Positive factor: Significant increase in Indicated Mineral Resources

Evidence · text

> 0.01% molybdenum

Context: Indicated Mineral Resources grew to 891 Mt at 0.50% copper

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**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

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-28)

West Wall · copper

#### Identity

- Project: West Wall
- Commodity: copper
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:7bf89511dd6a745767c9

#### Resource Data

- Category: inferred
- Tonnes: 1500000000
- Grade: 0.38
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: West Wall saw a substantial increase in Inferred Mineral Resources for copper, indicating significant exploration potential.

- Positive factor: Significant increase in Inferred Mineral Resources

- Positive factor: Large tonnage of copper

- Negative factor: Inferred category has high geological uncertainty

Evidence · text

> Inferred Mineral Resources increased to 1, 500 Mt at 0.38% copper

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**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

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-29)

West Wall · gold

#### Identity

- Project: West Wall
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:7bf89511dd6a745767c9

#### Resource Data

- Category: inferred
- Tonnes: 1500000000
- Grade: 0.03
- Grade Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: West Wall saw an increase in Inferred Mineral Resources for gold, indicating exploration potential.

- Positive factor: Significant increase in Inferred Mineral Resources

- Negative factor: Inferred category has high geological uncertainty

Evidence · text

> 0.03 g/t gold

Context: Inferred Mineral Resources increased to 1, 500 Mt at 0.38% copper

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**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

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-30)

West Wall · molybdenum

#### Identity

- Project: West Wall
- Commodity: molybdenum
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:7bf89511dd6a745767c9

#### Resource Data

- Category: inferred
- Tonnes: 1500000000
- Grade: 0.01
- Grade Unit: %

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: West Wall saw an increase in Inferred Mineral Resources for molybdenum, indicating exploration potential.

- Positive factor: Significant increase in Inferred Mineral Resources

- Negative factor: Inferred category has high geological uncertainty

Evidence · text

> 0.01% molybdenum

Context: Inferred Mineral Resources increased to 1, 500 Mt at 0.38% copper

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**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

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-31)

Dundonald · nickel

#### Identity

- Project: Dundonald
- Commodity: nickel
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:cfb6ca430047e6f5e101
- Deposit or zone: Dundonald North Nickel

#### Resource Data

- Category: inferred
- Grade: 0.75
- Grade Unit: %
- Contained Metal: 42
- Contained Unit: mlbs

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: Dundonald reported substantial Inferred Resources for nickel, indicating exploration potential.

- Positive factor: Significant Inferred Resources declared for nickel

- Negative factor: Inferred category has high geological uncertainty

Evidence · text

> Total Inferred Resources were 42 Mlbs at 0.75% nickel

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-32)

Dundonald · copper

#### Identity

- Project: Dundonald
- Commodity: copper
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:89b3876be62d2b9e5ad8

#### Resource Data

- Category: inferred
- Grade: 0.05
- Grade Unit: %
- Contained Metal: 2.6
- Contained Unit: mlbs

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: Dundonald reported Inferred Resources for copper as a byproduct, indicating exploration potential.

- Negative factor: Inferred category has high geological uncertainty

Evidence · text

> 2.6 Mlbs at 0.05% copper

Context: Total Inferred Resources were 42 Mlbs at 0.75% nickel

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-33)

La Parrilla · silver

#### Identity

- Project: La Parrilla
- Commodity: silver
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:0a7e073bcc3ba416cc1c

#### Resource Data

- Category: indicated
- Contained Metal: 10.8
- Contained Unit: moz

#### Metal Equivalent

- Metal Eq. Grade: 280
- Metal Eq. Unit: g/t AgEq
- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: La Parrilla reported a substantial increase in Indicated Mineral Resources with a high silver equivalent grade, but the lack of equivalent assumptions reduces confidence.

- Positive factor: Significant growth in Indicated Mineral Resources

- Positive factor: High silver equivalent grade

- Negative factor: Metal equivalent assumptions not disclosed

Evidence · text

> Indicated Mineral Resources at La Parrilla grew by 107% to 10.8 Moz AgEq \(as defined by Silver Storm\) at 280 g/t AgEq

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-first-quarter-of-2025-and-provides-ass--dc695d00-b909-48ff-b96d-8d76678a239c#fact-resource-facts-34)

La Parrilla · silver

#### Identity

- Project: La Parrilla
- Commodity: silver
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:5024edc23abf0630709a

#### Resource Data

- Category: inferred
- Contained Metal: 16.3
- Contained Unit: moz

#### Metal Equivalent

- Metal Eq. Grade: 255
- Metal Eq. Unit: g/t AgEq
- Assumptions Disclosed: No

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-05-15T00:00:00.000Z

Reasoning: La Parrilla reported a substantial increase in Inferred Mineral Resources, indicating exploration potential, but with lower confidence due to category and undisclosed equivalent assumptions.

- Positive factor: Significant growth in Inferred Mineral Resources

- Negative factor: Inferred category has high geological uncertainty

- Negative factor: Metal equivalent assumptions not disclosed

Evidence · text

> Inferred Mineral Resources grew by 58% to 16.3 Moz AgEq at 255 g/t AgEq

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

## 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.