Timelines and Near-Term Catalysts (2025)

Exploration Program

  • Q1: Follow-up drilling at high-grade Yuzhnaya Ploschad discovery
  • Q2: Initial drilling at NE Kounrad and Shabigon prospects
  • Q3-Q4: Resource expansion drilling at Pribrezhniy deposit
  • Ongoing: Target generation and geophysical surveys

Technical Studies

  • Advanced metallurgical testing
  • Environmental and social baseline studies
  • Hydrogeological studies
  • Pre-feasibility study initiation

Development Pathway (2025-2027)

Oxide Development Track

2025
3
2025
  • Complete metallurgical optimization
  • Advance permitting and approvals
  • Detailed engineering design
2026
3
2026
  • Construction decision
  • Site preparation and infrastructure development
  • SX/EW plant construction
2027
3
2027
  • Commissioning of oxide operation
  • First copper cathode production

Development Pathway (2025-2027)

Sulfide Development Track

2025
3
2025
  • Resource definition drilling
  • Pre-feasibility study advancement
2026
3
2026
  • Feasibility study initiation
  • Infrastructure planning
  • Strategic partnership discussions
2027+
3
2027+
  • Detailed engineering
  • Construction planning
  • Production timeline based on selected throughput scenario

Environmental & Social Timeline

Ongoing Programs

Q1 2025
3
Q1 2025

Enhanced water monitoring system implementation

Q2 2025
3
Q2 2025

Community engagement program expansion

Q3 2025
3
Q3 2025

Environmental baseline study completion

Q4 2025
3
Q4 2025

Stakeholder consultation process

2026
3
2026

Environmental impact assessment

Exploration Timeline

2025 Program Milestones

Q1-Q2
3
Q1-Q2
  • Complete geophysical surveys
  • Map drilling through cover sequences
  • Target generation at Shabigon
Q3-Q4
3
Q3-Q4
  • Follow-up drilling at priority targets
  • Resource expansion at main deposit
  • New target testing