Porter Airlines is North America's Best Regional Airline: Skytrax
TORONTO — Porter Airlines was selected as Best Regional Airline in North America at the 2025 Skytrax World Airline Awards, for the second consecutive year.
Article content
The category includes airlines that primarily or exclusively fly within North America. Over 100 countries participate in the world's largest airline passenger satisfaction survey to select the award winners. This year's presentation ceremony was held at the Paris Air Show.
Article content
'Porter has been redefining what it means to fly economy across North America. We're known for our elevated experience, such as no middle seats, free beer and wine served in glassware, complimentary premium snacks, plus free streaming WiFi for all passengers, however, it is our delivery of service that sets us apart, ' said Michael Deluce, CEO, Porter Airlines. 'We treat our passengers with dignity and respect, because that is how they deserve to be treated, and that is why we often hear that passengers 'love' Porter. This prestigious recognition is a reflection of how our entire team delivers award-winning service – something that cannot be replicated.'
Article content
The distinct service ethos that Porter has developed since 2006 is the foundation for this standard in a network that now stretches throughout North America.
Article content
In the past two years, the airline has:
Article content
Today, Porter has 64 routes, 37 destinations and serves every province in Canada. The airline now flies as far west as Victoria and as far east as St. John's in Canada. It is also making further headway into the U.S., with significant presence in major markets such as Florida, California and New York.
Article content
'We are delighted to see Porter Airlines win the award as the Best Regional Airline in North America at the 2025 World Airline Awards. This serves to highlight the airline's distinct service culture, which sets it apart in a competitive regional landscape. This recognition reflects the appreciation travellers have for the comfort, presentation and personal touch Porter brings to its flights,' said Edward Plaisted, CEO of Skytrax.
Article content
Skytrax introduced the category for Best Regional Airline in North America in 2014. Porter is also one of only three carriers in North America to qualify for Skytrax's Official 4-Star Rating, recognizing airlines that deliver overall quality performance.
Article content
. Visit
Article content
Article content
Article content
Article content
Contacts
Article content
Media:
Article content
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
37 minutes ago
- Globe and Mail
Can Dogecoin Reach $1 in 10 Years?
A lot of attention deservedly goes to the ongoing artificial intelligence (AI) boom. But investors can't forget another important innovation in the past decade or so, which is the rise of cryptocurrencies and blockchain networks. Love the industry or hate it, the market is valued at $3.3 trillion. So, there's certainly demand. However, critics will point to how much speculation characterizes the crypto industry. Dogecoin (CRYPTO: DOGE) might be the main culprit of this frenzy. The dog-inspired meme token was originally created as a joke. But now it's the ninth-most valuable crypto, worth $24 billion. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » In the past 10 years, Dogecoin's price has surged 82,140% higher, despite unnerving bouts of volatility. As of June 26, it trades 78% below its peak from May 2021. Can this token rise 525% to reach $1 in 10 years? Unpredictable price swings Casinos are popular partly because of the thrill they provide to gamblers. I suppose the same behavioral aspect can apply to Dogecoin. The token experiences wild price movements. For instance, it absolutely skyrocketed in November through the first week of December. But it's been a disappointment in 2025. Trying to time the ups and downs is fun for certain market participants. But this highlights the unpredictable nature of Dogecoin. There are really no fundamental reasons for why the price bounces around like it does. Instead, excitement on social media can control the narrative. And public endorsements by Elon Musk can also work wonders for the token's price. This enthusiasm can rapidly fade away, though. This makes it all the more difficult to trust Dogecoin as a long-term investment. The other issue that Dogecoin faces, particularly when it comes to increasing in price, is that there is not a supply cap. As of June 26, there are 150 billion DOGE tokens in circulation. Thanks to its proof-of-work consensus system, 5 billion new tokens are created every year. A rising supply base simply means demand has more catching up to do for the price to go up over time. That's a tough setup. Pending a major catalyst Dogecoin might have limited real-world use cases. However, it might be getting a major stamp of approval from the Securities and Exchange Commission (SEC). Multiple spot Dogecoin exchange-traded funds (ETFs) are waiting for the go-ahead. This could bring in lots of capital. This is exactly what happened with Bitcoin. Since the SEC finally approved spot Bitcoin ETFs on January 10, 2024, the price of the world's leading cryptocurrency is up 133%. These ETFs have amassed tens of billions of dollars in assets under management. I am confident the Dogecoin ETFs, if approved, won't come anywhere close to Bitcoin's success. But there is certainly upside if this happens, because the SEC would essentially be publicly portraying that Dogecoin is a legitimate financial instrument -- a development I'm sure the vast majority of observers never thought would happen. Don't expect a 525% rise by 2035 Dogecoin's price is currently $0.16. It would need to increase by 525%, or 20% on an annualized basis, to reach $1 by 2035. I don't think this bullish outcome will occur. First off, competition is stiff. Investors have plenty of other choices when it comes to meme tokens. If speculation is your thing, there are other, younger cryptos that might be more volatile to trade with. There are also safer bets such as Bitcoin. The financial services ecosystem that supports Bitcoin continues to expand. This crypto has a hard supply cap of 21 million. And it has deep liquidity and a powerful network effect that Dogecoin can only dream about. In the past three years, Bitcoin's 398% gain dominates Dogecoin's 140% rise. I believe this trend will continue over the next decade and beyond. Therefore, those expecting the dog token to get to $1 in 10 years, or ever, should temper their expectations. Should you invest $1,000 in Dogecoin right now? Before you buy stock in Dogecoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Dogecoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $713,547!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $966,931!* Now, it's worth noting Stock Advisor 's total average return is1,062% — a market-crushing outperformance compared to177%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 23, 2025
National Post
an hour ago
- National Post
Union President Visits Kingston to Close Out Week of Escalating WSIB Strike
Article content KINGSTON, Ontario — As the province-wide Workplace Safety and Insurance Board (WSIB) strike enters a critical phase, Ontario Compensation Employees Union (OCEU/CUPE 1750) President Harry Goslin will join striking frontline workers on the picket line in Kingston on Friday, July 4 at 12:00 p.m. to close out the week. Article content The visit follows growing frustration with political interference and misinformation — including a misleading employer post and direct texts from Premier Doug Ford repeating employer talking points. Article content Where: Article content When: Article content 'Premier Ford told me he understood our concerns — but then turned around and lied to our members,' said Harry Goslin, President of the Ontario Compensation Employees Union (OCEU/CUPE 1750). 'He texted workers directly with a recycled offer and tried to pass it off as new. That's not leadership — that's manipulation.' Article content The employer's public post this week references an 'offer', but it is not new. It is the same proposal tabled weeks ago with no changes or improvements. Meanwhile, WSIB has refused to meet with the union despite being offered time by the mediator. The mediator himself was unaware the employer had gone public with its so-called offer, underscoring how disconnected the post was from actual negotiations. Article content 'This is a PR stunt — not a serious effort to bargain,' said Goslin. 'We're showing up. We're tabling formal offers. We're working through issues. But WSIB continues to delay and distract.' Article content The union has also raised red flags about WSIB quietly outsourcing union work during the strike — including a pilot program that allows private healthcare contractors to bypass unionized staff and contact employers directly, a role traditionally held by WSIB Return-to-Work Specialists. Article content 'WSIB would rather contract out public services behind closed doors than offer a fair deal to its own workers,' Goslin added. 'And now the Premier is helping push their message — texting workers directly in the middle of a strike, spreading confusion instead of offering solutions.' Article content More than 3,600 OCEU members — including case managers, return-to-work specialists, and support staff, remain locked out across Ontario. They are fighting for fair wages, safe workloads, and an end to reckless privatization. The union is scheduled to return to the table Friday morning and will continue pressing for a real offer that can be brought to a vote. Article content Article content Article content Article content Article content Contacts Article content For more information, please contact: Article content Article content Bill Chalupiak Article content Article content Article content
National Post
an hour ago
- National Post
Almonty Announces Filing of Updated NI 43-101 Technical Report for the Sangdong Mine and the Re-classification of its Material Mineral Properties
Article content TORONTO — Almonty Industries Inc. (' Almonty ' or the ' Company ') (TSX: AII) (ASX: AII) (OTCQX: ALMTF) (Frankfurt: ALI), a leading global producer of tungsten concentrate, is pleased to announce that it has filed an updated technical report (the ' Technical Report ') for its Sangdong Tungsten Mine (the ' Sangdong Mine ') prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (' NI 43-101 '). Article content The Technical Report is entitled 'NI 43-101 Technical Report on the Mineral Resources and Reserves of the Sangdong Project, South Korea', dated June 23, 2025 and effective February 28, 2025, and has been authored by Adam Wheeler, C. Eng. (the ' Qualified Person '), an independent expert and a 'qualified person' within the meaning of NI 43‑101. The Technical Report is not required to be prepared pursuant to NI 43-101 and was voluntarily prepared to update the technical report entitled 'Report NI 43-101 Technical Report on the Mineral Resources and Reserves of the Sangdong Project, South Korea', dated July 31, 2016 and authored by the Qualified Person, and reflects recent developments at the Sangdong Mine, including with regards to mine development, to enhance the public disclosure about the Sangdong Mine. The Technical Report has been filed on SEDAR+ and can be accessed under the Company's profile at and on the Company's website at Article content As detailed in the Technical Report, the current mine and processing plant construction of Phase I of the Sangdong Mine is expected to begin production in the second half of 2025. Once fully operational, the targeted ore throughput capacity is expected to reach around 640,000 tons per year. The Company expects to increase its throughput capacity up to 1.2 million tons through the Phase II planned expansion. This expansion is fully permitted under existing Phase I approvals, and during the development of Phase I, some components have been built which may support a higher throughput or expansion. It is expected that, subject to positive operating results from Phase I and prevailing market conditions, Phase II could be advanced as early as 2026. This would involve initiating detailed engineering and permitting activities, followed by potential construction and commissioning. If Phase II is advanced in 2026, it is expected that first ore production under Phase II could commence in 2027. The Phase II expansion is expected to unlock economies of scale and support margin enhancement. Advancement to Phase II is contingent upon a formal decision following the evaluation of Phase I performance. Article content The Company has also conducted a reassessment of its mining portfolio and has concluded that, on the basis of its current strategy, including management's focus and the deployment of resources on the Sangdong Mine and the expected economic importance to the Company of the expected production at the Phase I relative to its other properties, as well as the expected timing and significant potential production increase of Phase II, the Sangdong Mine is the only mineral project on a property that is material to the Company for the purposes of NI 43-101. The Company remains engaged in the operation and development of other mineral properties, including the Panasqueira Mine (Portugal) and the Sangdong Molybdenum Project (South Korea). Article content For more details about the Sangdong Mine, shareholders should carefully review the Technical Report. Article content Notes Regarding Scientific and Technical Information Article content The scientific and technical information contained in this news release relating to the Sangdong Mine has been reviewed and approved by Adam Wheeler, C. Eng., an independent expert and 'qualified person' within the meaning of NI 43‑101. Article content ASX Listing Rules and ASX Listing Rule 5.12.9 Cautionary Statement Article content The Company advises that, for the purposes of the ASX Listing Rules, all mineral resources and ore reserves contained in the Technical Report are 'foreign estimates' and are not reported in accordance with the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves (2012) (the ' JORC Code '). Article content Although the Company notes that Mr Wheeler (who is also a Competent Person within the meaning of the JORC Code) previously prepared a JORC-compliant Technical Assessment Report for the Sangdong Project dated 31 December 2020 and this was included in the Company's prospectus dated 8 June 2021 (the ' JORC Compliant Technical Report '), the JORC Compliant Technical Report does not include the current assumptions, parameters and methods included in the Technical Report. As such: Article content a competent person has not done sufficient work to classify the updated foreign estimates contained in the Technical Report as mineral resources or reserves in accordance with the JORC Code; and Article content it is uncertain that following evaluation and/or further exploration work that the updated foreign estimates contained in the Technical Report will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code. Article content Information required pursuant to ASX Listing Rules 5.12, 5.16 and 5.17 is included in Annexure A of this announcement. Article content About Almonty Article content Almonty is a diversified and experienced global producer of tungsten concentrate in conflict-free regions. The Company is currently mining, processing and shipping tungsten concentrate from its Panasqueira Mine in Portugal. Its Sangdong Mine in Gangwon Province, South Korea is currently under construction. The Sangdong Mine was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits outside of China, Almonty also has a significant molybdenum resource on a separate property adjacent to the tungsten orebody at the Sangdong Mine. Additional development projects include the Valtreixal Project in northwestern Spain and Los Santos Mine in western Spain. Further information about Almonty's activities may be found at and under Almonty's profile at and Article content Legal Notice Article content The release, publication, or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published, or distributed should inform themselves about and observe such restrictions. Article content Neither the Toronto Stock Exchange (' TSX ') nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release. Article content Cautionary Note Regarding Forward-Looking Information Article content This news release contains 'forward-looking statements' and 'forward-looking information' within the meaning of applicable securities laws. Article content All statements, other than statements of present or historical facts are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are typically identified by words such as 'plan', 'development', 'growth', 'continued', 'intentions', 'expectations', 'emerging', 'evolving', 'strategy', 'opportunities', 'anticipated', 'trends', 'potential', 'outlook', 'ability', 'additional', 'on track', 'prospects', 'viability', 'estimated', 'reaches', 'enhancing', 'strengthen', 'target', 'believes', 'next steps' or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking statements include, but are not limited to, statements concerning the Sangdong Mine, including the expected beginning of production at the Sangdong Mine, the throughput capacity during Phase I and Phase II, and the potential commissioning and development of Phase II, as well as its potential benefits for Almonty. Article content Forward-looking statements are based upon certain assumptions and other important factors that, if untrue, could cause actual results to be materially different from future results expressed or implied by such statements. There can be no assurance that forward-looking statements will prove to be accurate. Key assumptions upon which the Company's forward-looking information is based include, without limitation, the absence of material adverse changes in its industry or the global economy including interest rate fluctuations, inflationary pressures, supply chain disruptions, and commodity market volatility, trends in its industry and markets, including the competitive environment, the ability of the Company to maintain its interests in its mineral projects, including with respect to title, access, and permitting matters, the Company's ability to manage risks normally incidental to the exploration, development and operation of mineral properties, the Company's ability to maintain good business relationships with key stakeholders, including customers, suppliers, lenders, regulators, and local communities, the Company's ability to manage potential uncertainties in the interpretation of geological data, drill results and market data, including data related to pricing trends, demand forecasts, and competitive positioning, the Company's ability to manage the possibility that future exploration, development or mining results may not be consistent with its expectations, the accuracy of the Company's mineral resource and reserve estimates and their underlying assumptions, including with respect to cut-off grades, recovery rates, and long-term commodity prices, the adequacy and availability of infrastructure (including power, water, roads, and processing capacity) at or near the mineral properties, the timely receipt and maintenance of necessary governmental and third-party approvals, permits, licenses, authorizations and regulatory compliance obligations, the Company's ability to comply with current and future environmental, health and safety, and other regulatory requirements and to timely obtain and maintain required regulatory approvals, licenses and permits, the Company's expectation that its operations will not be significantly disrupted as a result of political instability, pandemics and communicable diseases, nationalization, terrorism, sabotage, social or political activism, breakdown, natural disasters, governmental or political actions, litigation or arbitration proceedings, equipment or infrastructure failure, labour shortages, transportation disruptions or accidents, or other development or exploration risks, the Company's ability to execute construction and development activities on schedule and within budget, the Company's ability to recruit, retain and engage qualified personnel and contractors in all required jurisdictions, the Company's ability to raise sufficient debt or equity financing to support its continued growth, the Company's ability to continue to have sufficient working capital to fund its operations, the performance of counterparties under offtake agreements, supply arrangements, financing agreements, and other material contracts, that input costs, including energy, labor, equipment, and materials, will not increase materially beyond current expectations, that the price of tungsten and other metals and commodities will not decline significantly or for a protracted period of time, that the global financial markets and general economic conditions (including trade and monetary policies, currency exchange rates and rates of inflation) will be stable and conducive to business in the future, the Company's ability to maintain the security and integrity of its information technology systems and mitigate the impact of any potential cybersecurity threats and the Company's ability to meet increasing expectations regarding environmental, social and governance (ESG) matters from regulators, investors, and other stakeholders. Article content Forward-looking statements are also subject to risks and uncertainties facing the Company's business, any of which could have a material adverse effect on the Company's business, financial condition, results of operations and growth prospects. Readers should consider reviewing the detailed risk discussion in the Company's most recent Annual Information Form and the Company's Amended Management Discussion and Analysis for the three months ended March 31, 2025 filed on SEDAR+, for a fuller understanding of the risks and uncertainties that affect the Company's business and operations. Article content Although Almonty has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward-looking statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Almonty. Accordingly, readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary. Article content Investors are cautioned against attributing undue certainty to forward-looking statements. Almonty cautions that the foregoing list of material factors is not exhaustive. When relying on Almonty's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Almonty has also assumed that material factors will not cause any forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. Article content THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD- LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE ALMONTY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE, EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS. Article content Annexure A – Information required by ASX Listing Rules 5.12, 5.16 and 5.17 Article content ASX Listing Rule Disclosure/Technical Report Reference 5.10 – An entity reporting historical estimates or foreign estimates of mineralisation in relation to a material mining project to the public is not required to comply with ASX Listing Rule (LR) 5.6 provided the entity complies with rules 5.12, 5.13 and 5.14. For the foreign estimates included in the Technical Report, the Company is not required to comply with LR 5.6 as all relevant and requested disclosures are stated in the Technical Report and/or tabulated below. The Company has complied with LRs 5.12, 5.13 and 5.14 requirements for the statement of non-JORC foreign resource estimates, as tabled below. 5.11 – An entity must not include historical estimates or foreign estimates (other than qualifying foreign estimates) of mineralisation in an economic analysis (including a scoping study, preliminary feasibility study, or a feasibility study) of the entity's mineral resources and ore reserves holdings. The Company considers all foreign estimates included in the Technical Report are 'qualifying foreign estimates' as defined in Chapter 19 of the LRs, on the basis that such foreign estimates were prepared in accordance with National Instrument 43-101 (NI 43-101) and the CIM Standards. Requirements applicable to reports of foreign estimates of mineralisation for material mining projects 5.12.1 – The source and date of the historical estimates or foreign estimates. The estimates of Mineral Resources and Reserves for the Sangdong Project contained in the Technical Report are considered foreign estimates under the LRs. The foreign estimates were originally reported on 31 July 2016 in accordance with NI 43-101 (NI 43-101) by Adam Wheeler, C. Eng., a 'qualified person' within the meaning of NI 43‑101, in the Technical Report from the Company's original technical report dated 31 July 2016 prepared in accordance with NI 43-101. The Company notes that a Technical Assessment Report for the Sangdong Project dated 31 December 2020 was prepared by Mr Wheeler (a competent person within the meaning of the JORC Code) in accordance with the JORC Code and was included in the Company's prospectus dated 8 June 2021 (JORC Compliant Technical Report). For completeness, the Company advises that the JORC Compliant Technical Report does not include the current assumptions, parameters and methods included in the Technical Report. Accordingly, whilst the resources included in the JORC Compliant Technical Report remain current, the ore reserves and economic analysis contained in the JORC Compliant Technical Report are no longer up to date due to an updated mine plan and updated economic and operating parameters. 5.12.2 – Whether the historical estimates or foreign estimates use categories of mineralisation other than those defined in Appendix 5A (JORC Code) and if so, an explanation of the differences. The Company considers that the categories of Mineral Resource and Reserve classification used under NI 43-101 are 'qualifying foreign estimates' in accordance with Chapter 19 of the LRs and have substantially the same categories of Mineral Resource and Ore Reserve classification as the JORC Code (2012) (Appendix 5A, ASX LRs), which are Measured, Indicated and Inferred categories (Mineral Resources) and Proved (Proven) or Probable (in the case of Ore Reserves). 5.12.3 – The relevance and materiality of the historical estimates or foreign estimates to the entity. The Company considers the foreign estimates in the Technical Report to be both material and relevant to the Sangdong Project. 5.12.4 – The reliability of the historical estimates or foreign estimates, including by reference to any of the criteria in Table 1 of Appendix 5A (JORC Code) which are relevant to understanding the reliability of the historical estimates or foreign estimates. The procedures used in the preparation of the qualifying foreign estimates are considered to be reliable at the time of reporting. The NI 43-101 Standards have very similar reporting criteria to those required in Sections 1, 2 and 3 of the JORC Code. Key criteria, as defined in Table 1 of the JORC Code has been reviewed by the qualified person. The qualifying foreign estimate has been prepared and reviewed by a person defined as a qualified person as defined in the NI 43-101 standard. The qualified person confirms that the estimates have been prepared in accordance with NI 43-101. 5.12.5 – To the extent known, a summary of the work programs on which the historical estimates or foreign estimates are based and a summary of the key assumptions, mining and processing parameters and methods used to prepare the historical estimates or foreign estimates. Refer notably to Chapters 11 and 12 of the Technical Report for a summary of the work programs on which the foreign estimates contained in the Technical Report are based. Refer notably to Chapters 14 and 15 for a summary of the key assumptions, mining and processing parameters and methods used to prepare the foreign estimates contained in the Technical Report. 5.12.6 – Any more recent estimates or data relevant to the reported mineralisation available to the entity. There is no more recent mineral resource estimate that complies with the JORC Code, NI 43-101 or any other international reporting standard. 5.12.7 – The evaluation and/or exploration work that needs to be completed to verify the historical estimates or foreign estimates as mineral resources or ore reserves in accordance with Appendix 5A (JORC Code). The updated mine plan, Mineral Reserve estimation and corresponding economic results would need to be described in an updated JORC Compliant Technical Report. 5.12.8 – The proposed timing of any evaluation and/or exploration work that the entity intends to undertake and a comment on how the entity intends to fund that work. The timing of any evaluation and/or exploration work that the Company intends to undertake to verify the foreign estimates in accordance with the JORC Code would take approximately 2 weeks. The work would be funded via the Company's existing working capital. 5.12.9 – A cautionary statement proximate to, and with equal prominence as, the reported historical estimates or foreign estimates stating that: the estimates are historical estimates or foreign estimates and are not reported in accordance with the JORC Code. The following cautionary statement has been inserted into this market announcement: ' The Company advises that, for the purposes of the ASX Listing Rules, all mineral resources and ore reserves contained in the Technical Report are 'foreign estimates' and are not reported in accordance with the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves (2012) (JORC Code). ' Although the Company notes that Mr Wheeler (who is also a Competent Person within the meaning of the JORC Code) previously prepared a JORC-compliant Technical Assessment Report for the Sangdong Project dated 31 December 2020 and this was included in the Company's prospectus dated 8 June 2021 (JORC Compliant Technical Report), the JORC Compliant Technical Report does not include the current assumptions, parameters and methods included in the Technical Report. As such: the competent person has not yet done sufficient work to classify the updated foreign estimates contained in the Technical Report as mineral resources or reserves in accordance with the JORC Code; and it is uncertain that following evaluation and/or further exploration work that the updated foreign estimates contained in the Technical Report will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code. 5.12.10 – A statement by a named competent person or persons that the information in the market announcement provided under rules 5.12.2 to 5.12.7 is an accurate representation of the available data and studies for the material mining project. The statement must include the information referred to in rule 5.22(b) and (c). The information in this announcement and the Technical Report that relates to non-JORC foreign estimates is based on information compiled by Mr Adam Wheeler, Independent Mining Consultant. Mr Wheeler is an independent mining consultant and is a Fellow of the Institute of Materials, Minerals and Mining (FIMMM). Mr Wheeler has the relevant qualifications, experience and independence to be considered a Competent Person as defined in the JORC Code. The information in this announcement provided under LRs 5.12.2 to 5.12.7 is an accurate representation of the available data for the Sangdong Project. Mr Wheeler consents to the inclusion in this announcement of these matters based on this information in the form and context in which it appears. Requirements applicable to reports of production targets 5.15 – An entity must not issue a public report containing or referring to a production target that is based… solely or partly on historical estimates or foreign estimates (other than qualifying foreign estimates) of mineralisation. The Company considers all 'production targets' (i.e. projections or forecasts of the amount of minerals to be extracted from the Sangdong Project for a period that extends past the current year and the forthcoming year) contained in the Technical Report and this announcement are based on qualifying foreign estimates and therefore any such production targets are compliant with LR 5.15. 5.16.1 – All material assumptions on which the production target is based. If the economic assumptions are commercially sensitive to the mining entity, an explanation of the methodology used to determine the assumptions rather than the actual figure can be reported. Refer to Chapter 22 of the Technical Report for more information about the life-of-mine production scheduling and economic analysis. 5.16.2 – A statement that the estimated ore reserves and/or mineral resources underpinning the production target has been prepared by a competent person or persons in accordance with the requirements of in Appendix 5A (JORC Code). Ore reserves and mineral resources underpinning the production targets contained in the Technical Report and this announcement have not been prepared in accordance with the requirements of the JORC Code, however have been prepared by a 'qualified person' within the meaning of NI 43‑101 and are considered 'qualifying foreign estimates' for the purposes of the LRs. 5.16.3 – The relevant proportions of: • Probable ore reserves and proved ore reserves; • Inferred mineral resources, indicated mineral resources and measured mineral resources; • An exploration target; and • Qualifying foreign estimates, underpinning the production target. The production targets are based solely on qualifying foreign estimates (prepared in accordance with NI 43-101 and the CIM Standards). 5.16.7 – If a proportion of the production target is based on qualifying foreign estimates that have not been verified and reported as mineral resources or ore reservices in accordance with Appendix 5A (JORC Code) after 3 years from the date the qualifying foreign estimates were initially reported, the statement and explanation referred to in LR 5.14.2. The Company acknowledges its obligations under this LR and LR 5.14.2 should the qualifying foreign estimates contained in the Technical Report not be verified and reported as mineral resources or ore reserves in accordance with Appendix 5A (JORC Code) after 3 years from the date of the Technical Report. 5.17.1 – All material assumptions on which the forecast financial information is based. If the economic assumptions are commercially sensitive to the mining entity, an explanation of the methodology used to determine the assumptions rather than the actual figure can be reported. Refer to Chapter 22 for more information about the main assumptions used in generating forecast financial information contained in the Technical Report. 5.17.2 – The production target from which the forecast financial information is derived (including all the information contained in rule 5.16). Refer to Chapter 16 of the Technical Report for more information on the production targets from which the forecast financial information contained in the Technical Report is derived. 5.17.3 – If a significant proportion of the production target is based on an exploration target, the implications for the forecast financial information of not including the exploration target in the production target. N/A Article content Article content Article content Article content Article content Contacts Article content Company Article content Article content Lewis Black Article content Article content Chairman, President & CEO Article content Article content (647) 438-9766 Article content Article content Article content Article content Article content Lucas A. Zimmerman Article content Article content Article content Article content
