Vancouver, British Columbia--(Newsfile Corp. - July 7, 2025) - Versamet Royalties Corporation (TSXV: VMET) ("Versamet" or the "Company") is pleased to provide a mid-year update highlighting several recent developments.
Dan O'Flaherty, CEO of Versamet, commented, "Versamet has made significant progress in the first half of the year, marked most notably by the commencement of trading on the TSX Venture Exchange in late May. Since then, we have continued to build momentum with several key milestones, including the receipt of our first royalty payment from Artemis Gold's Blackwater mine, the inaugural copper delivery from Endeavour Silver's Kolpa mine, and, most significantly, the first gold pour at West African Resources' Kiaka mine, which occurred ahead of schedule. Our cash flow-focused portfolio is taking shape, and we anticipate a meaningful increase in GEOs in the second half of the year. As these new mines continue to ramp up toward full capacity, we expect our attributable GEOs to grow from 8,000-9,500 in 2025 to 14,000-16,000 in 2026, laying a strong, cash-generative foundation for continued growth."
First Gold Pour at Kiaka
On June 30, 2025, West African Resources ("West African") announced that first gold was poured at its Kiaka mine on June 26, 2025. Construction of Kiaka was completed in the second quarter of 2025, ahead of schedule and under budget. Ramp up is progressing smoothly with recoveries consistently above 92%, outperforming expectations. West African expects to ramp Kiaka up to nameplate throughput during the third quarter of 2025 and produce an average of 258,000 ounces of gold per year over the first five years of operation.
For more information, please refer to West African's ASX announcements dated June 30, 2025, titled "West African Pours First Gold at Kiaka Ahead of Schedule" and July 2, 2024, titled "Kiaka Feasibility Update Delivers 4.8 Moz Gold Ore Reserve 20 Year Mine Life" available on West African's website at westafricanresources.com.
About Versamet Royalties Corporation
Versamet is an emerging precious metals royalty and streaming investment focused on creating long-term per share value for its shareholders through the acquisition of high-quality assets. Versamet common shares trade on the TSX Venture Exchange under the symbol "VMET".
For more information about Versamet, including additional details on our royalties and streams, please visit our website at versamet.com.
General inquiries:
Craig Rollins, General Counsel
Email: info@versamet.com
Telephone: 778-945-3948
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Diego Airo, P.Eng, Vice President of Evaluations for Versamet and a member of the Association of Professional Engineers and Geoscientists of the Province of British Columbia. Mr. Airo is a Qualified Person as defined in the National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Non-IFRS Measures
Versamet uses certain performance measures in its analysis. These non-GAAP performance measures are included in this document because these statistics are key performance measures that management uses to monitor performance to assess how Versamet is performing. These performance measures do not have a standard meaning within IFRS and, therefore, amounts presented may not be comparable to similar data presented by other companies.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to: meaningful increases in attributable GEOs in the second half of the year; continued ramp up of new mines towards full capacity; expected growth of attributable GEOs from 8,000 - 9,500 in 2025 to 14,000 - 16,000 in 2026; West African's expectations; and other statements regarding future plans, expectations, exploration potential, guidance, projections, objectives, estimates and forecasts (in general and in connection with respective asset updates), as well as our expectations with respect to such matters. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Versamet to control or predict, that may cause Versamet's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk factors set out under the heading "Risk Factors" in the Company's final non-offering long form prospectus dated May 12, 2025 available for review on the Company's profile at www.sedarplus.ca. Such forward-looking information represents management's best judgment based on information currently available. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
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SOURCE: Versamet Royalties Corporation
