TRIGON METALS INC - PNTZF STOCK NEWS

Trigon Metals (TSX-V: TM; OTCQB: PNTZF) has achieved a key milestone at its Kombat mine in Namibia, mining an average of 980 tonnes of ore per day from underground operations over a 30-day period. This surpasses the 900 tonnes per day requirement set by Sprott Private Resource Streaming and Royalty, 13 months ahead of schedule.

The company will pause open pit operations at the end of September 2024, focusing on higher-grade underground ore. This decision is based on the successful recommissioning of the underground mine, the significant grade differential, and the current milling capacity constraint of 1,000 tonnes per day.

Trigon's CEO, Jed Richardson, stated that this achievement de-risks the Sprott streaming agreement and demonstrates the company's ability to meet and exceed feasibility study targets.

Trigon Metals Inc. (TSX-V: TM, OTCQB: PNTZF) has announced positive drilling results from a new zone near Shaft #3 of the Kombat mine in Namibia. The drilling program, which includes approximately 3,500 meters planned by year-end, has yielded several high-grade copper intersections outside the current proven and probable reserves. Notable results include 3.32% Cu over 7 meters and 2.65% Cu over 3 meters.

CEO Jed Richardson emphasized the importance of expanding reserves at Shaft #3 to increase extraction capacity beyond the current 1,000 tpd limit. The company plans to increase plant throughput to 2,000 tpd next year. Trigon will calculate volumes and tonnes based on drilling intersections and continue drilling to upgrade the mineral resource estimate category. The variability in grades suggests heterogeneous mineralization, which requires further understanding for accurate resource estimation and extraction planning.

Trigon Metals (OTCQB: PNTZF) reported its Q1 2024 financial results, highlighting significant milestones. Kombat mine achieved first full-quarter production, generating 2.3 million pounds of copper at $3.23/lb C1 cash costs. The mine also produced 33,399 ounces of silver. The company reported a positive adjusted EBITDA of $1.8 million and a net loss of $2.1 million ($0.05/share), down from a $2.95 million loss in the same period last year. Additionally, Trigon reaffirmed its 2025 fiscal guidance for production and costs. The exploration budget is set at $2.5 million to $3.5 million. The company secured a $2.5 million advance from IXM for Kombat mine's working capital needs, repayable from October 2024 through September 2025.

Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) has reported its financial results for Q4 2024 and the fiscal year ended March 31, 2024. Key highlights include:

- Profit from continuing operations of USD $13,439,695 for Q4 2024

- Net loss of $1,474,523 for the full fiscal year

- C1 cash costs reduced to $3.35/lb on 1,255,652 lbs of copper production in Q4

- Total ore mined: 97,525 tonnes grading 1.15% copper

- Open pit mining: 85,365 tonnes at 0.98% copper

- Underground mining: 12,160 tonnes at 2.36% copper

The company's results were positively impacted by the weakness in the Namibian dollar and higher ore tonnage from pre-commercial underground operations.

Trigon Metals Inc. (TSX-V: TM; OTCQB: PNTZF) has successfully replaced the failed dewatering pump at its Kombat mine in Namibia. The new pump body was installed on July 26, 2024, and began pumping water on July 27, 2024. As of July 29, the mine has been dewatered 25 meters from the shaft collar, down from 227 meters on July 18. The pump is currently dewatering at 2860 cubic meters per hour.

The company has implemented modifications to prevent future pump failures. Mining and processing have continued normally from underground operations above 120 meters. Trigon remains focused on production from the Asis West underground complex and maintains its previous guidance. The company also announced that Aidan Sullivan, VP of Investor Relations, will be stepping down effective August 1, 2024.

Trigon Metals Inc. (TSX-V: TM, OTCQB: PNTZF) has announced the appointment of Tom Panoulias as Vice President, Corporate Development, effective August 1, 2024. Panoulias brings over 15 years of experience in capital markets and mining, having raised over $1 billion for mining issuers and advised on numerous M&A transactions. His previous roles include positions at Echelon Wealth Partners, Fraser Mackenzie Merchant Capital, Dundee Capital Markets, Kinross Gold , and TVX Gold Inc.

Jed Richardson, Executive Chairman, expressed enthusiasm about Panoulias joining the team, highlighting his expertise in capital markets and investor relations. Trigon Metals, with operations in Namibia and Morocco, focuses on copper and silver holdings in African jurisdictions. The company holds an 80% interest in five mining licences in Namibia's Otavi Mountainlands and the Silver Hill project in Morocco.

Trigon Metals announced the achievement of commercial production from its underground operations at the Kombat Mine in Namibia as of April 30, 2024. This marks a significant milestone for Trigon, which aims to become a leading mid-tier copper producer. The milestone was reached by operating at 70% production capacity for 30 consecutive days. Trigon's underground production began ahead of schedule, with the first blast occurring on February 5, 2024. The company reported increased metal output due to higher-grade ore from underground, resulting in improved profitability and lower operating costs. The Kombat Mine, historically an underground mine, produced 774,696 lbs of copper in April 2024. Plans are underway to expand ore processing capacity to 60,000 tonnes per month. The company also granted 10,695,000 stock options to directors, officers, and consultants.