# METALLA REPORTS RECORD 2025 FINANCIAL RESULTS HIGHLIGHTING PORTFOLIO INFLECTION AND FUTURE CASH FLOW GROWTH

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/metalla-reports-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd

Original source: https://money.tmx.com/en/quote/MTA/news/6036874689032055/metalla-reports-record-2025-financial-results-highlighting-portfolio-inflection-

Publisher: tmx

Original announcement: 2026-03-26T11:00:00.000Z

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

- Document categories: Resource update, Production, Agreement transaction, Economic study

- Extracted: 2026-09-18 10:58:33 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

Metalla Royalty & Streaming Ltd. reported record financial results for the year ended December 31, 2025, with $11.7 million in revenue and 3,436 attributable Gold Equivalent Ounces. The company provided updates on several projects, including significant resource estimates for Taca Taca, Wharf, Tocantinzinho, Gurupi, Del Toro, Joaquin, and Tower Mountain. Key transactions included the acquisition of a Côté-Gosselin royalty interest and a strategic investment in Copper World, alongside a new revolving credit facility.

Reasoning: The company reported record financial results for 2025, driven by portfolio growth and advancing assets. Multiple projects saw significant resource updates and strategic developments, indicating strong future potential.

- Positive factor: Record financial results for 2025

- Positive factor: Significant resource growth across multiple projects

- Positive factor: Strategic acquisitions and investments

- Positive factor: Projects advancing towards production

- Negative factor: Net loss reported for 2025

- Negative factor: Some resource estimates are historical or inferred-heavy

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

Facts used in scoring: 30

## 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 Estimate

## Extracted facts

Stored fact records: 17. Some facts used in scoring do not have a stored record.

## Resource Estimates (17)

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd#fact-resource-facts-0)

Taca Taca · copper

#### Identity

- Project: Taca Taca
- Commodity: copper
- Ticker: MTA

#### Resource scope

- Estimate type: reserve
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- Resource group id: resource:5f7b6b80c855dc501607

#### Resource Data

- Category: probable
- Tonnes: 1990000000
- Grade: 0.42
- Grade Unit: %
- Contained Metal: 8429
- Contained Unit: kt

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: Updated technical report shows significant Proven and Probable reserves for copper, indicating a large-scale project.

- Positive factor: Large Proven and Probable reserve

- Positive factor: High contained metal

Evidence · text

> Proven and Probable Mineral Reserves total 1,990 Mt grading 0.42% copper and 0.09 g/t gold, containing an estimated 8,429 kt of copper and 5,532 koz 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

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd#fact-resource-facts-1)

Taca Taca · gold

#### Identity

- Project: Taca Taca
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: reserve
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- Resource group id: resource:5f7b6b80c855dc501607

#### Resource Data

- Category: probable
- Tonnes: 1990000000
- Grade: 0.09
- Grade Unit: g/t
- Contained Metal: 5532
- Contained Unit: koz

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: Updated technical report shows significant Proven and Probable reserves for gold, indicating a large-scale project.

- Positive factor: Large Proven and Probable reserve

- Positive factor: High contained metal

Evidence · text

> Proven and Probable Mineral Reserves total 1,990 Mt grading 0.42% copper and 0.09 g/t gold, containing an estimated 8,429 kt of copper and 5,532 koz 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

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd#fact-resource-facts-2)

Taca Taca · copper

#### Identity

- Project: Taca Taca
- Commodity: copper
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- Resource group id: resource:2f68a9ad041e65926d4d

#### Resource Data

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

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: Updated technical report shows significant Measured and Indicated resources for copper, indicating a large-scale project.

- Positive factor: Large Measured and Indicated resource

- Positive factor: High contained metal

Evidence · text

> Measured and Indicated Mineral Resources total 2,078 Mt grading 0.42% copper and 0.09 g/t gold, containing an estimated 8,716 kt of copper and 5,715 koz 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

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd#fact-resource-facts-3)

Taca Taca · gold

#### Identity

- Project: Taca Taca
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Reporting standards: ni\_43\_101
- Resource group id: resource:2f68a9ad041e65926d4d

#### Resource Data

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

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: Updated technical report shows significant Measured and Indicated resources for gold, indicating a large-scale project.

- Positive factor: Large Measured and Indicated resource

- Positive factor: High contained metal

Evidence · text

> Measured and Indicated Mineral Resources total 2,078 Mt grading 0.42% copper and 0.09 g/t gold, containing an estimated 8,716 kt of copper and 5,715 koz 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

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd#fact-resource-facts-4)

Wharf · gold

#### Identity

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

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101
- Resource group id: resource:342b44e18c250c77e978

#### Resource Data

- Category: probable
- Tonnes: 55100000
- Grade: 0.71
- Grade Unit: g/t
- Contained Metal: 1.25
- Contained Unit: moz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: Updated technical report shows a 65% increase in Proven and Probable gold reserves, extending the mine life.

- Positive factor: Significant increase in Proven and Probable reserves

- Positive factor: Extended mine life

Evidence · text

> Proven and Probable Mineral Reserves at Wharf increased by 65% to 1.25 Moz of gold at a grade of 0.71 g/t, contained within 55.1 Mt

#### 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

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: the source states a 65% increase in contained ounces

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd#fact-resource-facts-5)

Wharf · gold

#### Identity

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

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- Resource group id: resource:08c0e398b9be33d53b24

#### Resource Data

- Category: indicated
- Tonnes: 61800000
- Grade: 0.6
- Grade Unit: g/t
- Contained Metal: 1.19
- Contained Unit: moz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: Updated technical report provides a substantial Measured and Indicated gold resource.

- Positive factor: Good Measured and Indicated resource

Evidence · text

> Measured and Indicated Resources of 61.8 Mt at 0.6 g/t for 1.19 Moz 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-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd#fact-resource-facts-6)

Wharf · gold

#### Identity

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

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- Resource group id: resource:0ef9ac7663e1877e2282

#### Resource Data

- Category: inferred
- Tonnes: 72900000
- Grade: 0.63
- Grade Unit: g/t
- Contained Metal: 1.49
- Contained Unit: moz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: A large Inferred gold resource is reported, offering future potential but with lower confidence due to its classification.

- Positive factor: Large Inferred resource provides future exploration potential

- Negative factor: Inferred category has lower geological confidence

Evidence · text

> total Inferred resource estimate of 72.9 Mt at 0.63 g/t for 1.49 Moz 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-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd#fact-resource-facts-7)

Tocantinzinho · gold

#### Identity

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

#### Resource scope

- Estimate type: reserve
- Effective date: 2025-12-31T00:00:00.000Z
- Resource group id: resource:6f7f02cfc96400af5876

#### Resource Data

- Category: probable
- Tonnes: 49784000
- Grade: 1.17
- Grade Unit: g/t
- Contained Metal: 1.87
- Contained Unit: moz

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: Year-end update confirms significant Proven and Probable gold reserves.

- Positive factor: Substantial Proven and Probable gold reserves

Evidence · text

> Proven and Probable Reserves of 1.87 Moz of gold at a grade of 1.17 g/t contained in 49,784 kt

#### 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-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd#fact-resource-facts-8)

Tocantinzinho · gold

#### Identity

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

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Resource group id: resource:c3621b8ac1a2c91976c4

#### Resource Data

- Category: indicated
- Tonnes: 47665000
- Grade: 1.25
- Grade Unit: g/t
- Contained Metal: 1.92
- Contained Unit: moz

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: Year-end update confirms significant Measured and Indicated gold resources.

- Positive factor: Substantial Measured and Indicated gold resources

Evidence · text

> Measured and Indicated Resources of 1.92 Moz gold at a grade of 1.25 g/t within 47,665 kt

#### 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

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd#fact-resource-facts-9)

Gurupi · gold

#### Identity

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

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Resource group id: resource:1414c8d7647b5e5a2dd0
- Deposit or zone: Gosselin

#### Resource Data

- Category: indicated
- Tonnes: 43512000
- Grade: 1.31
- Grade Unit: g/t
- Contained Metal: 1.83
- Contained Unit: moz

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: Year-end update provides a solid Indicated gold resource.

- Positive factor: Good Indicated gold resources

Evidence · text

> Indicated Resources of 1.83 Moz gold at a grade of 1.31 g/t within 43,512 kt

#### 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-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd#fact-resource-facts-10)

Gurupi · gold

#### Identity

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

#### Resource scope

- Estimate type: resource
- Effective date: 2025-12-31T00:00:00.000Z
- Resource group id: resource:d000ae21fc60a7f227aa
- Deposit or zone: Gosselin

#### Resource Data

- Category: inferred
- Tonnes: 18518000
- Grade: 1.29
- Grade Unit: g/t
- Contained Metal: 0.77
- Contained Unit: moz

#### Prior Estimate

- Resource Date: 2025-12-31

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: Year-end update includes a substantial Inferred gold resource, providing future potential but with lower confidence.

- Positive factor: Good Inferred gold resources for future potential

- Negative factor: Inferred category has lower geological confidence

Evidence · text

> Inferred Resources of 0.77 Moz gold at a grade of 1.29 g/t within 18,518 kt

#### 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-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd#fact-resource-facts-11)

Del Toro · silver

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Del Toro
- Commodity: silver
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:6e1a26b23472f6f4ad88

#### Resource Data

- Category: indicated
- Tonnes: 592000
- Contained Metal: 7.57
- Contained Unit: moz silver-equivalent

#### Metal Equivalent

- Metal Eq. Grade: 398
- Metal Eq. Unit: g/t silver-equivalent

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: Historical Measured and Indicated resource shows good silver-equivalent grades, but it's an older estimate.

- Positive factor: Historical resource indicates significant silver-equivalent potential

- Negative factor: Historical estimate

- Negative factor: Lower confidence due to silver-equivalent

Evidence · text

> historical Measured and Indicated Mineral Resource estimate consisting of 592 kt grading 398 g/t for 7.57 Moz silver-equivalent

#### 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-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd#fact-resource-facts-12)

Del Toro · silver

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Del Toro
- Commodity: silver
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:3b579470b12dd7eb106a

#### Resource Data

- Category: inferred
- Tonnes: 1190000
- Contained Metal: 11.8
- Contained Unit: moz silver-equivalent

#### Metal Equivalent

- Metal Eq. Grade: 293
- Metal Eq. Unit: g/t silver-equivalent

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: Historical Inferred resource shows good silver-equivalent grades, but it's an older estimate and in the inferred category.

- Positive factor: Historical resource indicates significant silver-equivalent potential

- Negative factor: Historical estimate

- Negative factor: Inferred category

- Negative factor: Lower confidence due to silver-equivalent

Evidence · text

> historical Inferred Mineral Resource estimate of 1.19 million tonnes grading 293 g/t for 11.8 Moz silver-equivalent

#### 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-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd#fact-resource-facts-13)

Joaquin · silver

#### Identity

- Project: Joaquin
- Commodity: silver
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Reporting standards: other
- Resource group id: resource:946107953f6710222b06

#### Resource Data

- Category: inferred
- Tonnes: 45300000
- Grade: 85
- Grade Unit: g/t
- Contained Metal: 123
- Contained Unit: moz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: Updated MRE reports a large silver resource with good grade, based on recent drilling.

- Positive factor: Large silver resource with good grade

- Negative factor: Combined Indicated and Inferred category

Evidence · text

> Indicated and Inferred Resources at Joaquin of 45.3 Mt grading 85 g/t silver and 0.36% gold for 123 Moz of silver and 522 koz of 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

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/metalla-reports-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd#fact-resource-facts-14)

Joaquin · gold

#### Identity

- Project: Joaquin
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Reporting standards: other
- Resource group id: resource:946107953f6710222b06

#### Resource Data

- Category: inferred
- Tonnes: 45300000
- Grade: 0.36
- Grade Unit: %
- Contained Metal: 522
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: Updated MRE reports a good gold resource with decent grade, based on recent drilling.

- Positive factor: Good gold resource with decent grade

- Negative factor: Combined Indicated and Inferred category

Evidence · text

> Indicated and Inferred Resources at Joaquin of 45.3 Mt grading 85 g/t silver and 0.36% gold for 123 Moz of silver and 522 koz of 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-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd#fact-resource-facts-15)

Tower Mountain · gold

#### Identity

- Project: Tower Mountain
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:914d10d9ccd5a2ef8037

#### Resource Data

- Category: indicated
- Tonnes: 34500000
- Grade: 0.46
- Grade Unit: g/t
- Contained Metal: 514
- Contained Unit: koz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: Inaugural MRE establishes a significant Indicated gold resource.

- Positive factor: Inaugural Indicated gold resource

Evidence · text

> Indicated Mineral Resource of 34.5 Mt averaging 0.46 g/t gold for a total of 514 koz 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-record-2025-financial-results-highlighting-portfolio-inflection--8759f920-aaed-4e49-a014-5b314cd1fcfd#fact-resource-facts-16)

Tower Mountain · gold

#### Identity

- Project: Tower Mountain
- Commodity: gold
- Ticker: MTA

#### Resource scope

- Estimate type: resource
- Resource group id: resource:d412a6bde853207b6ca6

#### Resource Data

- Category: inferred
- Tonnes: 211100000
- Grade: 0.45
- Grade Unit: g/t
- Contained Metal: 3.05
- Contained Unit: moz

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-03-26T00:00:00.000Z

Reasoning: Inaugural MRE includes a large Inferred gold resource, offering substantial future potential but with lower confidence.

- Positive factor: Large Inferred gold resource provides significant future potential

- Negative factor: Inferred category has lower geological confidence

Evidence · text

> Inferred Mineral Resource of 211.1 Mt averaging 0.45 g/t gold for a total of 3.05 Moz 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

## 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.