# METALLA REPORTS FINANCIAL RESULTS FOR THE THIRD QUARTER OF 2025 AND PROVIDES ASSET UPDATES Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a Original source: https://money.tmx.com/en/quote/MTA/news/8153661091910935/metalla-reports-financial-results-for-the-third-quarter-of-2025-and-provides-ass Publisher: tmx Original announcement: 2025-11-13T21:30:00.000Z 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 - Document categories: Production, Drill results, Permitting, Metallurgy, Agreement transaction, Resource update, Economic study, Other - Extracted: 2026-09-18 11:06:33 UTC Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas summary Metalla Royalty & Streaming Ltd. announced record financial results for the third quarter of 2025, achieving its first quarter of positive net income. The company reported strong performance across its diverse royalty portfolio, with significant updates including high-grade drill intercepts from San Luis, Tower Mountain, and Edwards Mine, as well as progress on project expansions and permitting at assets like La Guitarra, Castle Mountain, and Taca Taca. Metalla also highlighted an increased NSR on the Côté–Gosselin project and a strategic investment in the Copper World project. Reasoning: Metalla reported record financial results for Q3 2025, including its first positive net income, driven by strong performance across its royalty portfolio. The company provided numerous positive asset updates, including high-grade drill intercepts, project expansions, and advancements in permitting and economic studies for key assets. - Positive factor: Record quarterly revenue, cash flow, and Adjusted EBITDA - Positive factor: First quarter of positive net income - Positive factor: Increased NSR on a significant gold asset \(Côté–Gosselin\) - Positive factor: Strong drill intercepts reported from multiple projects \(San Luis, Tower Mountain, Edwards Mine\) - Positive factor: Progress on permitting and project development across the portfolio - Positive factor: Significant strategic investment in Copper World project - Positive factor: Upcoming resource updates and economic studies Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 69 ## Classification and evidence **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a flotation route \("concentrate"\) **Single Domain Only** Polarity: negative Definition: Testing limited to one composite or domain — representativeness not established. Why it applies: only one composite was tested ## Extracted facts Stored fact records: 19. 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-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-drill-facts-30) Gosselin Needs review: drill\_no\_hole\_id #### Identity - Project: Gosselin - Region: canada - Reported Region: canada - Ticker: MTA #### Classification - Program: resource - 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: 2025-11-13T00:00:00.000Z Reasoning: IAMGOLD upsized its drilling program at Gosselin, completing 50,150 meters by the end of Q3 2025, indicating strong commitment to resource definition. - Positive factor: Significant total drilling meters completed - Positive factor: Upsized drill program indicates positive results or increased confidence Evidence · text > this program has been upsized with a total of 50,150 meters of drilling completed at the end of the third quarter. #### 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "resource" ### Fact 2 [Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-drill-facts-31) Côté Needs review: drill\_no\_hole\_id #### Identity - Project: Côté - Region: canada - Reported Region: canada - Ticker: MTA #### Classification - Program: resource - 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: 2025-11-13T00:00:00.000Z Reasoning: IAMGOLD completed 12,800 meters of infill drilling at the Côté deposit, aimed at improving resource confidence in a key extension area. - Positive factor: Significant infill drilling meters completed - Positive factor: Aims to improve resource confidence Evidence · text > 12,800 meters of the 20,000-meter infill drill program have been completed in the third quarter #### 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "resource" ### Fact 3 [Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-drill-facts-32) Côté Needs review: drill\_no\_hole\_id #### Identity - Project: Côté - Region: canada - Reported Region: canada - Ticker: MTA #### Classification - Program: resource - 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: 2025-11-13T00:00:00.000Z Reasoning: IAMGOLD completed 19,300 meters of infill drilling year-to-date at the Côté deposit, demonstrating ongoing efforts to enhance resource confidence. - Positive factor: Consistent infill drilling year-to-date - Positive factor: Aims to improve resource confidence Evidence · text > 19,300 meters year-to-date #### 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 **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "resource" ### Fact 4 [Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-drill-facts-37) Gurupi · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Gurupi - Commodity: gold - Region: canada - Reported Region: canada - Ticker: MTA #### Geometry - Grade: 3.52 - Grade Unit: g/t - Intercept: 9 m #### Classification - Program: exploration - 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: 2025-11-13T00:00:00.000Z Reasoning: Trenching at Gurupi returned 9 meters at 3.52 g/t gold, extending known mineralization and indicating exploration success. - Positive factor: Good gold grade over a moderate width - Positive factor: Extended known mineralization #### Tags used in scoring **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: The trenching extended known mineralization, which is a form of infill or step-out exploration. Evidence · text > trenching at Gurupi extended the known mineralization by 2 kilometers north of the Chega Tudo deposit, returning intercepts of 9 meters at 3.52 g/t gold **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-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-drill-facts-38) Gurupi · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Gurupi - Commodity: gold - Region: canada - Reported Region: canada - Ticker: MTA #### Geometry - Grade: 3.63 - Grade Unit: g/t - Intercept: 3 m #### Classification - Program: exploration - 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: 2025-11-13T00:00:00.000Z Reasoning: Trenching at Gurupi returned 3 meters at 3.63 g/t gold, further extending known mineralization. - Positive factor: Good gold grade - Positive factor: Extended known mineralization #### Tags used in scoring **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: The trenching extended known mineralization, which is a form of infill or step-out exploration. Evidence · text > and 3 meters at 3.63 g/t gold. **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-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-drill-facts-45) Joaquin Needs review: drill\_no\_hole\_id #### Identity - Project: Joaquin - Region: canada - Reported Region: canada - Ticker: MTA #### Classification - Program: exploration - 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: 2025-11-13T00:00:00.000Z Reasoning: A 30,000-meter Phase 2 drill program is underway at Joaquin, indicating active exploration and potential for further resource growth. - Positive factor: Significant drill program underway Evidence · text > the 30,000-meter Phase 2 drill program is underway. #### 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-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-drill-facts-46) San Luis · gold Needs review: drill\_no\_hole\_id #### Identity - Project: San Luis - Commodity: gold - Region: canada - Reported Region: canada - Ticker: MTA #### Geometry - Grade: 7.43 - Grade Unit: g/t - Intercept: 24.8 m #### Classification - Program: exploration - 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: 2025-11-13T00:00:00.000Z Reasoning: Highlander reported a high-grade intercept of 24.8 meters at 7.43 g/t gold and 16.45 g/t silver from step-out drilling at San Luis, indicating strong mineralization and potential for expansion. - Positive factor: Exceptional gold grade - Positive factor: Strong grade-thickness product - Positive factor: Significant intercept length - Positive factor: Step-out drilling success #### Tags used in scoring **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The gold grade of 7.43 g/t is exceptional for a gold deposit. Evidence · text > 7.43 g/t gold **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The drilling was described as 'step out drilling to the southeast of prior drilling'. Evidence · text > step out drilling to the southeast of prior drilling at the Bonita open pit target **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-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-drill-facts-47) San Luis · gold Needs review: drill\_no\_hole\_id #### Identity - Project: San Luis - Commodity: gold - Region: canada - Reported Region: canada - Ticker: MTA #### Geometry - Grade: 3.42 - Grade Unit: g/t - Intercept: 40.4 m #### Classification - Program: exploration - 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: 2025-11-13T00:00:00.000Z Reasoning: Another strong intercept of 40.4 meters at 3.42 g/t gold and 16.93 g/t silver from step-out drilling at San Luis further confirms mineralization. - Positive factor: Strong gold grade over a significant width - Positive factor: Strong grade-thickness product - Positive factor: Step-out drilling success #### Tags used in scoring **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The drilling was described as 'step out drilling to the southeast of prior drilling'. Evidence · text > and 3.42 g/t gold and 16.93 g/t silver over 40.4 meters. **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-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-drill-facts-48) San Luis · gold Needs review: drill\_no\_hole\_id #### Identity - Project: San Luis - Commodity: gold - Region: canada - Reported Region: canada - Ticker: MTA #### Geometry - Grade: 15.56 - Grade Unit: g/t - Intercept: 23.6 m #### Classification - Program: exploration - 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: 2025-11-13T00:00:00.000Z Reasoning: The discovery of a new zone, Kusy, at San Luis with an exceptional intercept of 23.6 meters at 15.56 g/t gold and 74.49 g/t silver is a highly significant exploration success. - Positive factor: Exceptional gold grade - Positive factor: Exceptional grade-thickness product - Positive factor: Discovery of a new mineralized zone #### Tags used in scoring **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The gold grade of 15.56 g/t is exceptional for a gold deposit. Evidence · text > 15.56 g/t gold **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The discovery of a new zone, Kusy, represents an extension of mineralization. Evidence · text > discovery of a new zone called Kusy. **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-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-drill-facts-58) Tower Mountain · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Tower Mountain - Commodity: gold - Region: canada - Reported Region: canada - Ticker: MTA #### Geometry - Grade: 1.25 - Grade Unit: g/t - Intercept: 103.5 m #### Classification - Program: exploration - 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: 2025-11-13T00:00:00.000Z Reasoning: Drilling at Tower Mountain's 3737-Target returned a broad intercept of 103.5 meters at 1.25 g/t gold, expanding the mineralized footprint and indicating significant scale. - Positive factor: Good gold grade over a very wide intercept - Positive factor: Strong grade-thickness product - Positive factor: Expanded mineralized footprint #### Tags used in scoring **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: Drilling expanded the mineralized footprint at the 3737-Target. Evidence · text > drilling expanded the mineralized footprint with four holes returning broad consistent intervals with highlight intercepts of 1.25 g/t gold over 103.5 meters **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-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-drill-facts-59) Tower Mountain · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Tower Mountain - Commodity: gold - Region: canada - Reported Region: canada - Ticker: MTA #### Geometry - Grade: 0.58 - Grade Unit: g/t - Intercept: 187.5 m #### Classification - Program: exploration - 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: 2025-11-13T00:00:00.000Z Reasoning: Another very wide intercept of 187.5 meters at 0.58 g/t gold at Tower Mountain's 3737-Target further expanded the mineralized footprint, suggesting bulk tonnage potential. - Positive factor: Moderate gold grade over an exceptionally wide intercept - Positive factor: Strong grade-thickness product - Positive factor: Expanded mineralized footprint #### Tags used in scoring **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: Drilling expanded the mineralized footprint at the 3737-Target. Evidence · text > and 0.58 g/t gold over 187.5 meters. **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-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-drill-facts-60) Tower Mountain · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Tower Mountain - Commodity: gold - Region: canada - Reported Region: canada - Ticker: MTA #### Geometry - Grade: 0.83 - Grade Unit: g/t - Intercept: 56.5 m #### Classification - Program: exploration - 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: 2025-11-13T00:00:00.000Z Reasoning: Drilling at Tower Mountain's P-Target successfully extended mineralization more than 100 meters down-plunge with 56.5 meters at 0.83 g/t gold, indicating continuity at depth. - Positive factor: Moderate gold grade over a good width - Positive factor: Moderate grade-thickness product - Positive factor: Extension of mineralization down-plunge #### Tags used in scoring **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The P-Target was successfully extended more than 100 meters down-plunge. Evidence · text > The P-Target was successfully extended more than 100 meters down-plunge with an intercept of 0.83 g/t gold over 56.5 meters. **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-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-drill-facts-61) Tower Mountain · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Tower Mountain - Commodity: gold - Region: canada - Reported Region: canada - Ticker: MTA #### Geometry - Grade: 0.78 - Grade Unit: g/t - Intercept: 33 m #### Classification - Program: exploration - 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: 2025-11-13T00:00:00.000Z Reasoning: Drilling at Tower Mountain's A-target extended mineralization by 100 meters in both directions with 33 meters at 0.78 g/t gold, indicating lateral continuity. - Positive factor: Moderate gold grade over a good width - Positive factor: Extension of mineralization in both directions #### Tags used in scoring **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The A-target drilling extended mineralization by 100 meters in both directions. Evidence · text > The A-target, drilling extended mineralization by 100 meters in both directions with a highlight intercept of 0.78 g/t gold over 33 meters **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-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-drill-facts-62) Tower Mountain · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Tower Mountain - Commodity: gold - Region: canada - Reported Region: canada - Ticker: MTA #### Geometry - Grade: 327 - Grade Unit: g/t - Intercept: 1 m #### Classification - Program: exploration - 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: 2025-11-13T00:00:00.000Z Reasoning: A bonanza intercept of 1 meter at 327 g/t gold at Tower Mountain's A-target is a highly significant result, indicating very high-grade mineralization within the extended zone. - Positive factor: Exceptional bonanza gold grade - Positive factor: Exceptional grade-thickness product - Positive factor: Extension of mineralization #### Tags used in scoring **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The gold grade of 327 g/t is exceptionally high, well above the bonanza threshold. Evidence · text > 327 g/t gold **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The A-target drilling extended mineralization by 100 meters in both directions. Evidence · text > and 327 g/t gold over 1 meter. **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-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-drill-facts-63) Edwards Mine · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Edwards Mine - Commodity: gold - Region: canada - Reported Region: canada - Ticker: MTA #### Geometry - Grade: 55.95 - Grade Unit: g/t - Intercept: 2.12 m #### Classification - Program: exploration - 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: 2025-11-13T00:00:00.000Z Reasoning: Regional drilling at Edwards Mine intersected high-grade gold mineralization beyond previous mining, with a bonanza intercept of 2.12 meters at 55.95 g/t gold, indicating significant potential. - Positive factor: Exceptional bonanza gold grade - Positive factor: Strong grade-thickness product - Positive factor: High-grade mineralization beyond previous mining #### Tags used in scoring **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: The gold grade of 55.95 g/t is exceptionally high, well above the bonanza threshold. Evidence · text > 55.95 g/t gold **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: High-grade gold mineralization was intersected beyond the extent of previous mining. Evidence · text > intersected high-grade gold mineralization beyond the extent of previous mining **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 (3) ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-resource-facts-29) Gosselin #### Identity - Project: Gosselin - Region: canada - Reported Region: canada - Ticker: MTA #### Resource scope - QP Signed: Yes #### Resource Data - Category: inferred #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-13T00:00:00.000Z Reasoning: IAMGOLD completed 18,500 meters of drilling at Gosselin, focused on increasing resource confidence and converting Inferred to Indicated resources, which is a positive step for de-risking the project. - Positive factor: Significant drilling meters completed - Positive factor: Program focused on resource confidence and upgrade Evidence · text > approximately 18,500 meters of drilling were completed at the Gosselin deposit during the quarter. The program was focused on increasing confidence in the existing resource and converting a significant portion of Inferred Resources to the Indicated category. #### 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 **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 **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 ### Fact 2 [Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-resource-facts-33) Gosselin · gold #### Identity - Project: Gosselin - Commodity: gold - Ticker: MTA #### Resource scope - Resource group id: resource:ab56727522fd9309860d #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-13T00:00:00.000Z Reasoning: An updated Mineral Reserve and Resource estimate for Gosselin is expected in Q2 2026, which will incorporate recent drilling and likely improve resource confidence. - Positive factor: Upcoming updated Mineral Reserve and Resource estimate - Positive factor: Expected to incorporate recent drilling results Evidence · text > the results of the Gosselin exploration program are expected to be included in an updated Mineral Reserve and Resource estimate in the second quarter next year #### Tags used in scoring **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 ### Fact 3 [Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-resource-facts-44) Joaquin · gold #### Identity - Project: Joaquin - Commodity: gold - Ticker: MTA #### Resource scope - Resource group id: resource:1ea1449ba25fdb94cb1e #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-13T00:00:00.000Z Reasoning: An updated JORC Mineral Resource estimate for Joaquin is on track for release in November 2025, providing a key update on the project's resource potential. - Positive factor: Upcoming updated JORC Mineral Resource estimate - Positive factor: On track for timely release Evidence · text > updated JORC Mineral Resource estimate for Joaquin is on track for release in November 2025 #### Tags used in scoring **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 ## Metallurgical Results (1) ### unspecified [Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-financial-results-for-the-third-quarter-of-2025-and-provides-ass--bebe937b-03bf-4066-a260-c2896b9dbd7a#fact-metallurgical-facts-9) Tocantinzinho · gold #### Identity - Project: Tocantinzinho - Commodity: gold - Ticker: MTA #### Test Work - Test Type: unspecified - Processing Route: unspecified - Sample: plant average #### Recovery - Recovery: 92.3 % - Recovery Basis: actual\_test #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-13T00:00:00.000Z Reasoning: Gold recovery at the Tocantinzinho plant improved to 92.3%, which is a strong recovery for a gold operation, indicating efficient processing. - Positive factor: Strong gold recovery for a plant operation - Positive factor: Recovery improving quarter-over-quarter Evidence · text > gold recovery improving to 92.3% ## 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.