Rupert Res Ltd - RUPRF STOCK NEWS

Rupert Resources has announced positive results from its 2022-23 exploration program at the Ikkari gold discovery in Finland. The latest drilling results confirm high-grade mineralization, with significant intercepts including 52.6m of 2.3g/t gold and 15.4m of 5.4g/t gold. The company expects an average annual production of 200,000 ounces over a 24-year mine life, with an after-tax NPV of $1.6 billion and an IRR of 46%. The ongoing drilling may further expand resources at Ikkari, and regional exploration has identified promising targets. Additionally, a pre-feasibility study is underway, led by a new Study Manager, as the company prepares to increase resources and enhance project viability.

Rupert Resources Ltd has divested its non-core Hirsikangas interests in Central Finland, receiving 890,000 common shares in Northgold AB. Additionally, Rupert purchased 226,000 shares in Northgold at SEK 12.50 per share, totaling SEK 2,825,000, equating to approximately 248,000 Euros or 350,000 Canadian dollars. This acquisition brings Rupert's holding in Northgold to 9.1% of its issued equity on a fully diluted basis. CEO James Withall stated that this transaction enhances value for shareholders and allows the company to concentrate on its Ikkari project and other properties in Northern Finland.

Rupert Resources Ltd has released its unaudited, condensed consolidated interim financial statements for the period ending November 30, 2022. The Company spent $20.3 million on exploration, a rise from $16.5 million in 2021. Cash reserves decreased to $29 million from $49.3 million year-over-year. The net losses for the three and nine months were $3.7 million and $6.6 million, respectively. The Company's Ikkari Project shows promise, reporting an After-Tax NPV of $1.6 billion and IRR of 46% as per its Preliminary Economic Assessment. Ongoing drilling aims to expand resource estimates, with a focus on obtaining necessary permits for future operations.

Rupert Resources Ltd has provided its 2023 outlook and a recap of 2022 highlights for the Rupert Lapland Project, including the flagship Ikkari gold discovery. Significant milestones in 2022 were a successful Preliminary Economic Assessment (PEA) for Ikkari, revealing an After-Tax Net Present Value (NPV) of $1.6 billion, an Internal Rate of Return (IRR) of 46%, and a payback period of two years. The company aims to complete a pre-feasibility study within 12 to 18 months while focusing on resource expansion through ongoing drill programs and environmental assessments.

Rupert Resources announced its graduation from the TSX Venture Exchange to the Toronto Stock Exchange, with trading of its common shares commencing on December 12, 2022, under the symbol ‘RUP’. This transition involves delisting from the TSX-V. Rupert Resources focuses on gold exploration and development, particularly the Ikkari project in Northern Finland, which contributes to its Rupert Lapland Project. The company also holds interests in other properties in Canada and Finland, aiming for discoveries that offer high margins and low environmental impacts.

Rupert Resources has announced the approval for the listing of its common shares on the Toronto Stock Exchange starting December 12, 2022, trading under the symbol RUP. This move marks a significant transition from the TSX Venture Exchange to the TSX, indicating the company's growth trajectory. CEO James Withall emphasized this graduation as a vital step, showcasing the economic potential of the Ikkari Discovery highlighted in a recent Preliminary Economic Assessment. As of August 2022, the company reported cash reserves of $35 million.