Recent Insider Transactions • Jul 02
Insider recently bought CA$243k worth of stock On the 29th of June, Brian Paes-Braga bought around 750k shares on-market at roughly CA$0.32 per share. This transaction amounted to 3.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$4.5m more in shares than they have sold in the last 12 months. Announcement • Jun 29
Freeman Gold Corp Delivers Feasibility Study for the Lemhi Gold Project Confirming 1 Million Ounce Proven and Probable Reserve Freeman Gold Corp. has announced the results of the Feasibility Study for its 100%-owned Lemhi Gold Project, located in Lemhi County, Idaho, USA. The Feasibility Study confirms Lemhi as a technically robust, long-life gold development project supported by a Proven and Probable Mineral Reserve of 1.0 million ounces of gold. At a base case of USD 3,650 per ounce, the study demonstrates strong economics, including a post-tax Net Present Value (NPV(5%)) of USD 696 million, a post-tax Internal Rate of Return (IRR) of 34.4% and a rapid payback period of 2.5 years. Using current spot price of USD 4,090 increases post-tax NPV(5%) to USD 904 million, IRR increases to 41.4% and payback period reduces to 2.1 years, while increasing the NPV-to-initial-capital ratio to 2.74x from 2.11x. The project features a Proven and Probable Mineral Reserve of 1.0 million ounces of gold, a 15.2-year mine life, conventional open-pit mining and carbon-in-leach processing, average life-of-mine gold recovery of 94.8%, rapid post-tax payback of 2.5 years, strong capital efficiency with a 2.11x NPV-to-initial-capital ratio, significant exploration upside beyond current reserves, and an additional 240,000 ounces of Inferred Mineral Resources not included in reserve. The Company is focused on advancing permitting, completing additional engineering optimization, evaluating financing alternatives, and continuing exploration programs designed to expand mineral resource estimates and extend mine life. Supported by a 1.0 million ounce Proven and Probable Mineral Reserve, strong project economics, excellent infrastructure, and a favourable Idaho location, Lemhi is positioned to become a significant future source of domestic US gold production. Advancing permitting and environmental baseline studies toward Mine Plan of Operations submission. Continuing stakeholder and community engagement in Lemhi County and the broader region. Progressing project financing and strategic partnership discussions. Continuing infill and exploration drilling to grow and extend the Mineral Resource estimate. Refining engineering and procurement strategies to optimize capital efficiency at construction. New Risk • Apr 22
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$9.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$9.2m free cash flow). Shareholders have been substantially diluted in the past year (60% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$96.9m market cap, or US$70.9m). 
