The GoldPages for the Week Ended on June 12, 2026

Research evidence excerpt

The GoldPages for the Week Ended on June 12, 2026

June 15, 2026

Materials – Precious Metals & Minerals

The GoldPages Gold Mining Research

Rene Cartier, CPA, CA, CBV, CFA* Analyst

Rene.Cartier@bmo.com (416) 359-5001

The GoldPagesis a comprehensive review of operating and valuation metrics for a Andrew Mikitchook P.Eng., CFA* Analyst

broad universe of North American and Global gold companies. Andrew.Mikitchook@bmo.com (416) 359-5782

Matthew Murphy, CFA* Analyst

The data set can be used to evaluate the relative investment merits of global gold

Matthews.Murphy@bmo.com (416) 843-3198

stocks based on consistent and rigorous analysis over a range of valuation and

Kevin O’Halloran* Analystcommodity price scenarios.

Kevin.OHalloran@bmo.com (416) 278-7023

Brian Quast, P.Eng.* Analyst

Brian.Quast@bmo.com (416) 359-6284CLICK HERE to open/save Excel version.

Raj Ray, CFA^ Analyst

CLICK HERE to access our research website. Raj.Ray@bmo.com +44 742-309-8180

Frederic Bolton^ Analyst

TableofContents Frederic.Bolton@bmo.com +44 785-065-5751

BMO Commodity Forecast Assumptions 2

Key Valuation Metrics - 1 3 Data/Project Mgmt.: Alona Yunda^

Key Valuation Metrics – 2 (BMO) 4 alona.yunda@bmo.com +44 789-479-7518

Key Valuation Metrics – 2 (SPOT) 5 Legal Entity: *BMO Nesbitt Burns Inc;

Net Present Value 6 ^BMO Capital Markets Limited

Gold Price Sensitivity - Net Present Value at 5% Discount Rate 7

Production and Cash Cost - Co-Product 8

Production and Cash Cost - By-Product 9

All-in Sustaining Costs & All-in Costs - By-Product 10

Adjusted Earnings 11

Adjusted Cash Flow 12

Net Free Cash Flow at Spot Prices 13

Net Free Cash Flow at BMO Prices 14

Enterprise Value 15

Balance Sheet 16

Reserves Summary 17

Gold Price Sensitivity - Adjusted Earnings per Share 18