Reported Earnings • May 05
Full year 2025 earnings released: US$0.014 loss per share (vs US$0.025 loss in FY 2024) Full year 2025 results: US$0.014 loss per share (improved from US$0.025 loss in FY 2024). Revenue: US$9.01m (up 2.0% from FY 2024). Net loss: US$6.38m (loss narrowed 45% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 290% per year, which means it is well ahead of earnings. Recent Insider Transactions • Apr 20
Chairman & CEO recently sold CA$84k worth of stock On the 13th of April, Christopher van Tienhoven sold around 100k shares on-market at roughly CA$0.84 per share. This transaction amounted to 3.9% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth CA$374k. Christopher has been a net seller over the last 12 months, reducing personal holdings by CA$429k. Announcement • Mar 31
Patagonia Gold Corp Commences Leaching Operations At Calcatreu Project Patagonia Gold Corp. has announced the successful commencement of leaching operations at its flagship Calcatreu Project in Rio Negro Province, Argentina. This milestone represents a significant advancement as the Project transitions into its gold recovery cycle. The initiation of leaching activities follows the completion of construction, commissioning of key infrastructure, and the placement of mineralized material on the heap leach pad. With all necessary regulatory approvals in place and operational systems fully tested, the Company has now begun applying leach solution to the stacked ore. The commencement of leaching follows the construction and stacking progress update announced in January and confirms advancement in line with the Company’s previously communicated development sequence. Key processing infrastructure, including the carbon-in-column (CIC) circuit, is now operational. The Company has over 91,300 tonnes of material from the Veta 49 pit, consisting of 73,300 tonnes crushed and stockpiled, and 18,800 tonnes stacked on the leach pad. The Project is being developed on a prominent, multi-vein, epithermal gold and silver mineral system located in the mining-friendly jurisdiction of Rio Negro Province. Development activities have been conducted in accordance with international best practices for environmental stewardship, safety, and community engagement. The Company continues to prioritize sustainable operations and meaningful partnerships with local communities. Leaching operations will continue on stacked mineralized material with ongoing monitoring of solution flow and recovery performance. Subsequent stages are expected to include loaded carbon processing and doré production as part of normal heap-leach operating cycles. Timing of gold recovery will depend on operational and metallurgical factors typical of heap leach operations. NCL Ltda. continues to progress the updated technical report on Calcatreu, prepared in accordance with National Instrument 43-101, expected for release in Second Quarter 2026, which will incorporate updated technical information for the Project. Donald J. Birak, an independent consulting geologist, Registered Member of SME, Fellow of AusIMM, and qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information in this news release. 
