Allen Palmiere, President & Chief Executive Officer Armando Alexandri, Chief Operating Officer Chet Holyoak, Chief Financial Officer
Q3 2025
Conference Call
November 5, 2025
12:00 P.M. E.T.
Q3 2025 Highlights
Initiate a safety assessment for DDGM Strong production results for gold equivalent ounces Transition to more efficient and high-quality mining practices. We have acquired specialized equipment for narrow-vein mining. Initiating the preparations to resume production at the AltaGracia Mine. Moving towards a high-quality mining operation.
Safety Assessment
Conduct a thorough assessment of Don David Gold's Safety Prevention System and Safety Culture, emphasizing critical risk analysis, organizational management, safety department performance, and both executive and operational leadership.
Identity Gaps
Structural, Behavioral and technical
Design a preventive plan
Objective, feasible and measurable
Zero Accidents Mindset
Integrating engineering, systems, culture and leadership
Mine Production Mine Development
Plant Production Gold Ounces Production
Q3 2025 Operational Results
Tonnes Processed | Q3 2025 | YTD 2025 |
Total tonnes | 65,131 | 185,516 |
Tonnes per day (based on actual days the mill operated during the period) | 1,124 | 1,144 |
Metal Sold | Q3 2025 | YTD 2025 |
Gold ounces | 1,422 | 3,159 |
Silver ounces | 417,710 | 798,395 |
Gold equivalent ounces | 6,298 | 12,150 |
Copper tonnes | 67 | 160 |
Lead tonnes | 212 | 761 |
Zinc tonnes | 645 | 2,322 |
Financial Measures | For the Nine Months Ended September 30, 2025 | ||
Cash balance (at September 30, 2025) | $ 9.8 M | ||
For the Three Months Ended September 30, 2025 | For the Nine Months Ended September 30, 2025 | ||
Net loss Net sales | $(4.7) M 24.9 M | $(24.5) M 48.5 M | |
Production cost | 15.6 M | 39.2 M | |
Depreciation, Amortization & Reclamation | 3.0 M | 8.9 M | |
Mining gross profit | 6.2 M | 0.3 M | |
Total cash costs per AuEq ounce | $2,116/oz | $ 2,594/oz | |
Total all-in sustaining cost per AuEq ounce | $2,983/oz | $ 3,542/oz | |
Note: Total cash costs after co-product credits per AuEq ounce and Total all-in sustaining costs after co-product credits per AuEq ounce are a non-GAAP financial measures. Please see the Reconciliation of Non-GAAP Financial Measures on the 2023 Form 10-K filed with the SEC (refer to https://www.sec.gov/edgar).
DDGM Cash Costs
Note: Cash costs after co-product credits per gold equivalent ounce is a non-GAAP financial measures. Please see the Reconciliation of Non-GAAP Financial Measures on the 2024 Form 10-Q filed with the SEC (refer to https://www.sec.gov/edgar).
Investment Summary
Q3 2025 | YTD 2025 | |
Sustaining | ($000s) | ($000s) |
Underground Development | $1,191 | $2,621 |
Infill Drilling | 251 | 670 |
Underground and Surface Exploration Development | 457 | 602 |
Other Sustaining Capital 1,517 2,170
Subtotal of Sustaining Investments: 3,416 6,063Growth
Surface Exploration/Other | 799 | 1,649 |
Underground Exploration Development | 3,299 | 6,584 |
Back Forty Project Optimization & Permitting 191 562 Subtotal of Growth Investments 4,289 8,796 Total Capital & Exploration Investment $7,705 $14,859
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