Haywood Securities

Red Pine Exploration Inc. is a Canadian company focused on the acquisition, exploration, and development of mining properties, primarily in Ontario and Quebec. The company specializes in identifying deposits of precious and base metals, including gold, copper, zinc, lead, silver, and nickel. Its flagship asset is the Wawa Gold Project, situated 2 kilometers southeast of the Municipality of Wawa in Northern Ontario, encompassing approximately 5,582 hectares. This project includes several former mines that have historically produced around 120,000 ounces of gold. Established in 1936 and headquartered in Toronto, Red Pine Exploration aims to enhance shareholder value by leveraging a skilled management and technical team to advance its projects through comprehensive data analysis and property development.

Total Helium is a helium exploration, production, and storage solutions company that supplies the North American market.

Nomad Royalty Company Ltd. is a gold and silver royalty company based in Montreal, Canada. The company acquires rights to a percentage of the gold or silver produced from various mining operations, typically securing these rights for the life of the mine. Nomad's portfolio consists of ten royalty, stream, and gold loan assets, which include properties such as Woodlawn, Blyvoor, Gualcamayo, and Suruca. Its operations span multiple geographical regions, including North America, South America, Africa, and Australia. By generating revenue through gold and silver streams, royalties, and gold prepay loans, Nomad positions itself as a key player in the mining sector, focusing on the acquisition of valuable production rights.

Luminex Resources Corp. is a Canadian exploration and development company based in Vancouver, specializing in precious and base metals, particularly gold and copper projects in Ecuador. The company has significant interests in various mineral concessions, including the Condor project, which spans 10,101 hectares in the Zamora-Chinchipe Province. In addition to Condor, Luminex is involved in several other projects, such as Tarqui and Pegasus, and has earn-in agreements with major mining companies BHP and Anglo American for specific concessions. Luminex was incorporated in 2018 and continues to expand its portfolio of early-stage exploration concessions throughout Ecuador.

Osisko Development is a gold mining company mainly focused on developing a mining camp in Canada.

K2 Gold Corporation is a junior mineral exploration company based in Vancouver, Canada, focused on acquiring and exploring gold and silver projects in North America. The company holds the Mojave Gold project in southern California, which spans approximately 5,830 hectares, and the GDR property in the Yukon Territory, covering 3,073 hectares. Additionally, K2 Gold has a 90% interest in the Wels property, encompassing 346 quartz claims over a total area of 7,200 hectares, as well as the Ladue property, which consists of 208 claims across about 4,350 hectares in the Yukon. The company also owns the McArthur Creek property in east-central Alaska, comprising 123 claims. Established in 2011 and formerly known as West Melville Metals Inc., K2 Gold aims to evaluate and develop economic mineral deposits while also assessing the potential of other minerals in various locations.

Nova Royalty is focused on acquiring royalties on deposits of copper and nickel. Nova buys royalties on the world’s leading copper and nickel projects – the strategic assets necessary for the world’s energy transition. We believe that the royalty model is the superior method of owning any commodity. The royalty owner makes a single upfront payment to purchase the royalty, and in exchange, has the benefit of the entire stream of the mine’s revenues - irrespective of operating costs and capital expenditures – with no additional capital commitments.

Denison Mines Corp is a uranium exploration and development company.

Adventus Mining Corporation is a mineral exploration and development company focused primarily on copper and gold projects in Ecuador, Canada, and Ireland. The company's key asset is the Curipamba property in Ecuador, which is currently advancing through a feasibility study. Adventus is also involved in a nationwide exploration alliance in Ecuador, including the Pijili and Santiago copper-gold porphyry projects. In addition to its main projects, Adventus holds a portfolio of exploration initiatives and equity investments in Ireland and Canada, which are supported by commercial partners. Founded in 2016 and headquartered in Toronto, the company aims to leverage its diverse exploration activities to enhance its position in the mining sector.

Erdene Resource Development Corporation is a Canadian resource exploration company dedicated to the acquisition, exploration, and development of precious and base mineral deposits in Mongolia. The company focuses on exploring for copper, molybdenum, gold, silver, lead, and zinc, holding interests in three exploration licenses covering approximately 4,842 hectares and three mining licenses spanning about 13,019 hectares. Its principal projects include the Khundii Gold Project and the Altan Nar project, both situated in the Tian-Shan copper-gold belt in southwest Mongolia. Additionally, Erdene's Zuun Mod project is located within 200 kilometers of the Chinese border in Mongolia's Bayankhongor Province, and the Khuvyn Khar project targets copper and silver deposits. Established in 2000 and headquartered in Dartmouth, Canada, the company was previously named Erdene Gold Inc. before rebranding in May 2008.

NexGold Mining is a gold-focused exploration-stage company engaged in the evaluation and exploration of mineral resources. The company owns the Goliath Gold Complex, located in northwestern Ontario, which has recently received federal government clearance to proceed with final authorizations and licenses following a successful environmental assessment. This complex is anticipated to become one of Canada’s next producing gold mines. In addition to the Goliath Gold Project, NexGold also holds the Goldlund Gold Project and the Miller Gold Project, further enhancing its portfolio in the region.

Troilus Gold is a Canadian based development stage resource company focused on the potential restart and mineral expansion of the former producing Troilus gold and copper mine, located within the Frotêt-Evans Greenstone Belt in Quebec.

Denison Mines Corp is a uranium exploration and development company.

Stornoway Diamond Corporation is a Canadian company engaged in the mining, acquisition, and exploration of diamond properties. Founded in 1986 and headquartered in Longueuil, Canada, its principal asset is the fully-owned Renard Mine, located in north-central Quebec, which is on track to become the province's first diamond mine. The company is focused on growth through the development of its flagship asset as well as a portfolio of exploration projects across Canada, including properties such as Adamantin, Qilalugaq, and Pikoo. Stornoway aims to enhance its position in the diamond industry by leveraging its exploration and development capabilities in one of the world's most favorable mining jurisdictions.

Silver Viper Minerals is a Canadian junior mineral exploration company focused on the acquisition and exploration of mineral properties in Mexico. The company holds a 100% interest in the La Virginia Gold-Silver Project, which consists of six mineral concessions spanning an area of 35,598 hectares in Sonora, Mexico. Additionally, Silver Viper is developing the Clemente Project, an early-stage exploration property that aims to identify low-sulphidation epithermal gold-silver mineralization through the study of extensive intrusive dykes and breccia zones. Established in 2016 and headquartered in Vancouver, Canada, Silver Viper Minerals actively seeks to advance its exploration initiatives in the promising mineral-rich regions of Mexico.

Troilus Gold is a Canadian based development stage resource company focused on the potential restart and mineral expansion of the former producing Troilus gold and copper mine, located within the Frotêt-Evans Greenstone Belt in Quebec.

Doman Building Materials Group is a prominent Canadian wholesale distributor specializing in building materials, home renovation products, and hardware. The company serves various sectors, including new home construction, home renovation, and the industrial market, supplying a diverse range of products to retailers, lumberyards, and home improvement centers. Doman's extensive product line includes structural, exterior, interior, and specialty items designed to meet the needs of builders and homeowners engaged in new construction, repair, and remodeling projects. Additionally, the company is involved in timber ownership and manages private timberlands and forest licenses, offering services such as agricultural post-peeling and wood pressure treating. Doman Building Materials Group operates primarily in Canada and the United States, emphasizing quality and value across all its offerings.

Troilus Gold is a Canadian based development stage resource company focused on the potential restart and mineral expansion of the former producing Troilus gold and copper mine, located within the Frotêt-Evans Greenstone Belt in Quebec.

Northern Empire Resources Corp. is a natural resource company. The Company is focused on the acquisition and exploration of precious metals and base metals properties. The Company's projects include Richardson property, which is located north of the Richardson highway, over 115 kilometers southeast of Fairbanks, Alaska; Hilltop property, which is located north of the Richardson highway, over 70 kilometers southeast of Fairbanks, Alaska; Kiyuk Property, which is situated in southern Nunavut and comprises over 60 contiguous mineral claims totaling over 490 square kilometers that fall on Crown land within Nunavut.

Troilus Gold is a Canadian based development stage resource company focused on the potential restart and mineral expansion of the former producing Troilus gold and copper mine, located within the Frotêt-Evans Greenstone Belt in Quebec.

Doman Building Materials Group is a prominent Canadian wholesale distributor specializing in building materials, home renovation products, and hardware. The company serves various sectors, including new home construction, home renovation, and the industrial market, supplying a diverse range of products to retailers, lumberyards, and home improvement centers. Doman's extensive product line includes structural, exterior, interior, and specialty items designed to meet the needs of builders and homeowners engaged in new construction, repair, and remodeling projects. Additionally, the company is involved in timber ownership and manages private timberlands and forest licenses, offering services such as agricultural post-peeling and wood pressure treating. Doman Building Materials Group operates primarily in Canada and the United States, emphasizing quality and value across all its offerings.

Leucrotta Exploration Inc. is an oil and natural gas company based in Canada, primarily focused on the Montney formation in the Dawson area of Northeast British Columbia. The company holds approximately 100,500 gross acres, equating to about 157 gross sections of Montney land in the Doe/Mica region. Leucrotta is engaged in the acquisition, development, exploration, and production of oil and natural gas reserves, with current production levels reaching around 3,000 barrels of oil equivalent per day.

Novo's focus is to evaluate, acquire and explore gold properties. Novo owns the approximately 10 square kilometer Beatons Creek Tenements in Western Australia and has the right to earn a 70% interest in the approximately 1,800 square kilometer Pilbara Paleoplacer Gold Project (includes the Beatons Creek and Marble Bar paleoplacer gold projects) in Western Australia from the Creasy Group. The Company's present focus is its Beatons Creek and Marble Bar paleoplacer gold projects in Western Australia. The Beatons Creek Tenements cover extensive exposures of the Beatons Creek conglomerates, a series of Archaean age pyritic conglomerates hosting gold mineralization similar to that of the Witwatersrand Basin in the Republic of South Africa. Shallow gold reefs were first identified and mined in this area beginning in the late 1800's.

Trevali Mining operates as a zinc-focused base metals mining company with one producing operation in Peru and another currently undergoing commissioning in Canada. In Peru, the company is actively producing zinc and lead-silver concentrates from its 2,000-tonne-per-day Santander mine. In Canada, Trevali owns the Caribou mine and mill, Halfmile mine, and Stratmat deposit all located in the Bathurst Mining Camp of northern New Brunswick. The company is currently commissioning its 3,000-tonne-per-day Caribou mine.

Sabina Gold & Silver Corp. is a mining company based in Vancouver, Canada, focused on the exploration and development of precious metal resources, primarily gold. The company's main assets include the Back River gold project, which encompasses several properties such as Goose, George, Boulder, and Boot, along with a port facility at Bathurst Inlet in southwestern Nunavut. Additionally, Sabina holds a silver royalty on the Hackett River project, which spans over 10,600 hectares in Nunavut. Established in 1966, the company aims to become a significant gold producer through the phased development of its projects in politically stable mining regions.

Doman Building Materials Group is a prominent Canadian wholesale distributor specializing in building materials, home renovation products, and hardware. The company serves various sectors, including new home construction, home renovation, and the industrial market, supplying a diverse range of products to retailers, lumberyards, and home improvement centers. Doman's extensive product line includes structural, exterior, interior, and specialty items designed to meet the needs of builders and homeowners engaged in new construction, repair, and remodeling projects. Additionally, the company is involved in timber ownership and manages private timberlands and forest licenses, offering services such as agricultural post-peeling and wood pressure treating. Doman Building Materials Group operates primarily in Canada and the United States, emphasizing quality and value across all its offerings.

Sabina Gold & Silver Corp. is a mining company based in Vancouver, Canada, focused on the exploration and development of precious metal resources, primarily gold. The company's main assets include the Back River gold project, which encompasses several properties such as Goose, George, Boulder, and Boot, along with a port facility at Bathurst Inlet in southwestern Nunavut. Additionally, Sabina holds a silver royalty on the Hackett River project, which spans over 10,600 hectares in Nunavut. Established in 1966, the company aims to become a significant gold producer through the phased development of its projects in politically stable mining regions.

SEMAFO’s corporate vision – establish enduring relationships with the countries in which we operate and through our experience, expertise and financial acumen, partner to responsibly develop natural resources – showcases the Canadian company’s association of sustainable development with geological and mining development. The spirit of this mission forms a thread that runs throughout our history. In 1993, Benoit La Salle, founder of SEMAFO, was on a philanthropic mission in Africa when the authorities in Burkina Faso proposed that he return in order to help realise the untapped mineral potential in the country. SEMAFO, which results from the amalgamation of three small exploration companies, was incorporated two years later in order to launch the mining sector in Burkina Faso. The name SEMAFO is an acronym for Société d’Exploration Minière en Afrique de l’Ouest, the French version of our former name “West Africa Mining Exploration Corporation”. From the outset, the Corporation’s modus operandi was closely aligned with the founder’s humanitarian vision of West Africa as evidenced by an early corporate commitment: “We are committed to conducting our business activities in a manner that promotes sustainable development and an improvement in the social welfare of the regions in which we operate.” This dual mission remains at the core of our business and took deeper roots through the 2008 establishment of SEMAFO Foundation, a non-profit, stand-alone charitable organisation that supports communities and offers an improved quality of life to regions where SEMAFO is present. Through its three-pronged approach – education, healthcare and income-generating - the Foundation aims to help local communities reach their greatest potential. By guiding communities in income-generating activities, the Foundation ensures that stakeholders will continue to benefit from our legacy even when the company’s mining activities will have ceased. In a history that spans some twenty years, SEMAFO has successfully commissioned three gold mines in several jurisdictions in West Africa and produced more than two million ounces in gold. Our in-house development, construction, operational, administrative and government relations teams, all of whom are fluent French speakers, draw from more than a decade of operating experience in West Africa. Our success has been governed by the values we practice: respect and integrity, excellence, know-how and teamwork. Our portfolio has evolved and simplified since 1995 when we held 19 exploration permits in four West African countries. In 1995, Les Minéraux SGV S.A., a company in which we were a 50% equity partner, purchased a two-year prospecting permit for the Jean Gobélé project in Guinea. With the financial support and technical expertise of our then major shareholder Managem S.A., and in collaboration with our co-licensee Corporation Minière Afcan, the project was advanced from exploration, site development and mine construction until its first gold pour on April 25, 2002. The name of the mine was subsequently changed to the Kiniero gold mine, which we operated for eleven years. In 2013, the mine was deemed a non-core asset and placed in care and maintenance until its 2014 divestiture to a local mining company. In 1999, we entered Niger by setting up la Société des Mines du Liptako S.A. (SML). Through the support of Managem, we advanced the Libiri and Samira Hill gold deposits through development, mine construction and to commercial production in October 2004. We operated the Samira Hill Mine for nine years, improving plant availability and capacity, and enabling the mine to produce over 540,000 ounces of gold before its 2013 disposal to SOPAMIN. Mana, which lies at the heart of SEMAFO’s history, was a grassroots discovery that has now evolved into the third-largest gold mine in Burkina Faso. We advanced this project from satellite image interpretation through detailed exploration, site development and mine construction to its first gold pour in March 2008. Since then, we have expanded the processing plant four times. Since November 1999, we have drilled more than 1.2 million metres on the extensive Mana property that boasts a total surface area of over 2,675 square kilometres on the Houndé Gold Belt. In 2014, the Corporation marked another milestone when it took the high-grade Siou deposit from blind discovery to production in a mere 18 months, thereby boosting Mana production and reserve grade. Our history shows we have been a pioneer in many aspects in West Africa. The original gold mine operator in Niger, SEMAFO also spearheaded foreign direct investment in the gold mining sector in Burkina Faso, and remains the only mining company in Burkina Faso to establish a non-profit foundation and pledge up to 2% of its net profits to support its efforts in the community. Following its 2015 acquisition of 13 Orbis permits, SEMAFO’s property portfolio reached 7,600 square kilometers, comprising one of the most extensive land positions in Burkina Faso. Our strategy of quality ounces, cost control and optimisation programs, and disciplined exploration at Mana took us into a new phase of development in 2014, allowing us to generate free cash flow even in a soft gold environment. Driven by the performance of our recently ramped-up high-grade Siou and Fofina deposits, we produced 234,300 ounces at a total cash cost of $649 per ounce in 2014, thus meeting production guidance for the seventh consecutive year. Although we take pride in our solid financial, operational and community report cards, we remain focused on future expansion of our heritage. Our commitment to building an ethical, reputable, world-class gold company through a combination of exploration, development and acquisition remains undimmed.

Doman Building Materials Group is a prominent Canadian wholesale distributor specializing in building materials, home renovation products, and hardware. The company serves various sectors, including new home construction, home renovation, and the industrial market, supplying a diverse range of products to retailers, lumberyards, and home improvement centers. Doman's extensive product line includes structural, exterior, interior, and specialty items designed to meet the needs of builders and homeowners engaged in new construction, repair, and remodeling projects. Additionally, the company is involved in timber ownership and manages private timberlands and forest licenses, offering services such as agricultural post-peeling and wood pressure treating. Doman Building Materials Group operates primarily in Canada and the United States, emphasizing quality and value across all its offerings.

Trevali Mining operates as a zinc-focused base metals mining company with one producing operation in Peru and another currently undergoing commissioning in Canada. In Peru, the company is actively producing zinc and lead-silver concentrates from its 2,000-tonne-per-day Santander mine. In Canada, Trevali owns the Caribou mine and mill, Halfmile mine, and Stratmat deposit all located in the Bathurst Mining Camp of northern New Brunswick. The company is currently commissioning its 3,000-tonne-per-day Caribou mine.

Parex Resources Inc. (“Parex”), through its direct and indirect subsidiaries, is actively engaged in crude oil exploration, development and production. The Company strives to grow reserves, production, and cash flow in a way that is sustainable for the business, the environment and surrounding communities.

Gear Energy Ltd., a junior oil and gas company, is engaged in the acquisition, exploration, development, and production of petroleum and natural gas properties. It has interests in oil and gas properties located in east central Alberta and west central Saskatchewan. The company is headquartered in Calgary, Canada.

STLLR Gold is a Canadian gold exploration company focused on advancing its wholly-owned Tower Gold project, located along the Destor Porcupine Fault Zone in Ontario. The Tower Gold project hosts an estimated gold mineral resource of 4.5 million ounces indicated and 8.3 million ounces inferred. In addition to the Tower Gold project, the company also owns the Colomac Gold project in the Northwest Territories. Both projects exhibit strong economic potential and are situated in regions with significant exploration upside. STLLR Gold aims to create shareholder value through strategic capital allocation and an active resource expansion drilling program, while ensuring that all operations are conducted in an environmentally and socially responsible manner.

Mercator Minerals is a natural resource company focused on the mining, development, and exploration of mineral properties primarily in the United States and Mexico. The company operates the Mineral Park mine, a copper and molybdenum producer located near Kingman, Arizona. Additionally, it is engaged in the exploration and development of the El Pilar copper project in Northern Mexico and the El Creston molybdenum project, also situated in Northern Mexico. Mercator Minerals contributes to the supply chain of essential metals through its efficient extraction and processing methods, aiming to enhance its portfolio and revenue from mineral resources.

Midas Gold Corp. is engaged in mineral exploration in the United States, focusing primarily on gold deposits along with by-products such as antimony and silver. The company is notable for its ownership of the Stibnite Gold Project, located in Valley County, Idaho, within a historically significant mining district. The project is backed by an independent pre-feasibility study, which indicates its potential as a large-scale, long-life, and low-cost open pit gold mine. With considerable funding and substantial high-grade gold reserves, the Stibnite Gold Project represents a significant development opportunity in North America. Midas Gold aims to balance its mining operations with environmental stewardship, contributing to the local community while ensuring responsible resource management.

Green Shift Commodities is a Canadian-based exploration company focused on the exploration of uranium and related minerals in South America. The company is establishing the Berlin Deposit in Colombia, which contains not only uranium for clean nuclear energy but also essential battery materials such as nickel, phosphate, and vanadium. Phosphate, in particular, plays a critical role in lithium-ion ferro-phosphate batteries, which are increasingly utilized by electric vehicle manufacturers. With operations in Canada, Colombia, and Argentina, Green Shift Commodities is positioned to contribute to the growing demand for sustainable energy solutions.

Yangarra Resources is a junior oil and gas company focused on the exploration, development, and production of natural gas and oil in Western Canada, particularly in Central Alberta. The company operates primarily in the Western Canadian Sedimentary Basin, where it possesses significant infrastructure and landholdings. Key operational areas include O'Chiese, Willesden Green, Ferrier, Cow Lake, Chambers, and Chedderville. Through its strategic focus on these regions, Yangarra aims to effectively leverage its resources and enhance its production capabilities.

Parex Resources Inc. (“Parex”), through its direct and indirect subsidiaries, is actively engaged in crude oil exploration, development and production. The Company strives to grow reserves, production, and cash flow in a way that is sustainable for the business, the environment and surrounding communities.

Bellatrix Exploration Ltd is an intermediate energy producer focused on exploration and development of light oil and liquids-rich natural gas opportunities in some of the most exciting plays in the Western Canada Sedimentary Basin.

Mercator Minerals is a natural resource company focused on the mining, development, and exploration of mineral properties primarily in the United States and Mexico. The company operates the Mineral Park mine, a copper and molybdenum producer located near Kingman, Arizona. Additionally, it is engaged in the exploration and development of the El Pilar copper project in Northern Mexico and the El Creston molybdenum project, also situated in Northern Mexico. Mercator Minerals contributes to the supply chain of essential metals through its efficient extraction and processing methods, aiming to enhance its portfolio and revenue from mineral resources.