Ada Tepe

[lifecycle_phase was: closure (mine approaching end of LOM)] 100%-owned open-pit gold mine in southeastern Bulgaria near Krumovgrad. Approaching end of mine life by mid-2026; flotation processing facility will be dismantled and transported for refurbishment and installation to support the Coka Rakita project construction schedule. 2025 production 71 koz Au from 797 kt ore @ 3.45 g/t Au (lower vs 2024 due to mining lower-grade zones per mine plan). 2026 production guidance 15-20 koz Au; major rehabilitation activities to commence 2027. Bulgarian royalty rate 6% on gross metals contained in ore mined.