Chelopech

100%-owned underground gold-copper-silver high-sulphidation epithermal mine east of Sofia, Bulgaria. Flagship asset. February 2026 update extended mine life to 2036 (~10 years), incorporating the Sharlo Dere prospect and updated cut-off-value assumptions. Recent Wedge Zone Deep (WZD) discovery sits ~300 m below existing reserves and infrastructure (drilling update planned Q2 2026). Concentration mill produces gold-copper concentrate. Fixed-royalty concession terms apply through 2029; new Bulgarian rates (2-6% Au/Ag, 2-5% Cu) apply on renewal.