# Cartier announces updated PEA for the Cadillac Project: After-tax NPV5% of C$1.0 billion and after-tax IRR of 26.6% at US$3,600/oz gold price Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/cartier-announces-updated-pea-for-the-cadillac-project-after-tax-npv5-of-c-1-0-b--cbd346ff-5d7d-484b-8b0d-b6e90748a195 Original source: https://orestocks.com/company/ECR.V/press-releases/8408907904487145 Publisher: orestocks Original announcement: 2026-09-17T11:15:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-17T12:25:07.097Z Atlas analysis updated: 2026-09-17T12:25:07.097Z - Company: Cartier Resources Inc. - Ticker: ECR.V - Exchange: Unavailable - Region: Quebec, Canada - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update, Metallurgy, Other - Extracted: 2026-09-17 12:25:07 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Cartier Resources Inc. announced an updated Preliminary Economic Assessment \(PEA\) for its Cadillac Project in Quebec, Canada, revealing robust economics with an after-tax NPV5% of C$1.0 billion and an IRR of 26.6% at a base case gold price of US$3,600/oz. The study outlines an average annual gold production of 100 koz over a 16.2-year mine life, with a low initial CAPEX of C$275.8 million and an AISC of US$2,137/oz. The PEA incorporates an updated mineral resource estimate and recent metallurgical testwork, highlighting the project's economic viability and potential for further optimization and resource growth. Reasoning: The updated Preliminary Economic Assessment \(PEA\) for the Cadillac Project demonstrates robust economics with a significant after-tax NPV and IRR, supported by updated resource and metallurgical data, indicating strong potential for development and future growth. - Positive factor: Robust economics with high after-tax NPV and IRR at base case and spot gold prices - Positive factor: Long mine life and significant total recovered gold production - Positive factor: Low initial CAPEX and competitive AISC - Positive factor: High metallurgical recovery of 95% with a conventional flowsheet - Positive factor: Updated mineral resource estimate and metallurgical results incorporated into the PEA - Positive factor: Potential for further optimization and resource growth from un-incorporated drilling and new discoveries - Negative factor: The PEA is preliminary in nature and includes a significant portion of Inferred Mineral Resources - Negative factor: Recent drilling \(35,000m\) is yet to be incorporated into the economic model Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 7 ## Classification and evidence **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: The document is an announcement of an updated Preliminary Economic Assessment \(PEA\) for the project. Evidence · text > Cartier announces updated PEA for the Cadillac Project **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Multiple Qualified Persons \(QPs\) are named and their responsibilities for the PEA are detailed. Evidence · text > The PEA was prepared by consultants who are independent of Cartier, each of whom are Qualified Persons \(″QP″\) as defined by NI 43-101 **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The PEA and the underlying mineral resource estimate were prepared in accordance with National Instrument 43-101. Evidence · text > The updated PEA was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects \(″NI 43-101″\) **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: The resource estimate includes a Measured category for both open pit and underground components. Evidence · table > Measured Context: Measured **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The resource estimate includes an Indicated category for both open pit and underground components. Evidence · table > Indicated Context: Indicated **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The resource estimate includes a significant Inferred category for both open pit and underground components. Evidence · table > Inferred Context: Inferred **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The PEA incorporates an updated mineral resource estimate announced on December 18, 2025. Evidence · text > It incorporates the updated mineral resource estimate announced on December 18, 2025 **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The resource estimate clearly states cut-off grades of 0.30 g/t Au for open pit and 1.00 g/t Au for underground resources. Evidence · text > Cut-off Grade = 0.30g/t Au **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: A gold recovery of 95% is reported, which is exceptional for a conventional mill/CIL flowsheet. Evidence · text > Metallurgical recovery of 95% **Multi-Domain Tested** Polarity: positive Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed. Why it applies: Metallurgical testwork was performed on six variability samples from three main zones, indicating coverage of different ore domains. Evidence · text > a series of tests were performed on six variability samples: two from each of the three main zones, Chimo, East Chimo, and West Nordeau. **Recovery Improving** Polarity: positive Definition: Recovery improved versus a like-for-like prior test program on the same domain and route. Why it applies: The updated PEA incorporates new metallurgical results from a 2026 testwork program, implying an improvement or updated understanding compared to the prior PEA. Evidence · text > Metallurgical recovery of 95%, supported by the 2026 metallurgical testwork program **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: The processing scenario involves a conventional flowsheet with crushing, grinding, gravity concentration, and cyanide leaching, indicative of a mill route. Evidence · text > conventional flowsheet with crushing, grinding, gravity concentration and cyanide leaching. **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: The processing flowsheet explicitly includes gravity concentration. Evidence · text > gravity concentration and cyanide leaching. **Single Domain Only** Polarity: negative Definition: Testing limited to one composite or domain — representativeness not established. Why it applies: only one composite was tested ## Extracted facts Stored fact records: 7. Some facts used in scoring do not have a stored record. ## Resource Estimates (6) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/cartier-announces-updated-pea-for-the-cadillac-project-after-tax-npv5-of-c-1-0-b--cbd346ff-5d7d-484b-8b0d-b6e90748a195#fact-resource-facts-0) Cadillac Project · gold #### Identity - Project: Cadillac Project - Commodity: gold - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: ECR.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Pierre Luc Richard, P.Geo., Stephen Coates, P.Eng. - Resource group id: resource:da1b94134cd581a7d941 - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 1770000 - Grade: 2.16 - Grade Unit: g/t - Contained Metal: 123300 - Contained Unit: oz - Cutoff Grade: 0.3 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-18 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: This Measured Open Pit resource contributes high-confidence ounces to the overall project, supporting the positive economics of the updated PEA. - Positive factor: High confidence Measured category resource - Positive factor: Good grade for open pit gold - Positive factor: Part of an updated resource estimate supporting a positive PEA Evidence · table > 2.16 Context: 1,770,000 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/cartier-announces-updated-pea-for-the-cadillac-project-after-tax-npv5-of-c-1-0-b--cbd346ff-5d7d-484b-8b0d-b6e90748a195#fact-resource-facts-1) Cadillac Project · gold #### Identity - Project: Cadillac Project - Commodity: gold - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: ECR.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Pierre Luc Richard, P.Geo., Stephen Coates, P.Eng. - Resource group id: resource:a8265ce10648b36d6c4e - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: measured - Tonnes: 4210000 - Grade: 2.8 - Grade Unit: g/t - Contained Metal: 379300 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-18 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: This Measured Underground resource provides high-confidence ounces at a good grade, forming a strong foundation for the project's economic assessment. - Positive factor: High confidence Measured category resource - Positive factor: Good grade for underground gold - Positive factor: Part of an updated resource estimate supporting a positive PEA Evidence · table > 2.80 Context: 4,210,000 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/cartier-announces-updated-pea-for-the-cadillac-project-after-tax-npv5-of-c-1-0-b--cbd346ff-5d7d-484b-8b0d-b6e90748a195#fact-resource-facts-2) Cadillac Project · gold #### Identity - Project: Cadillac Project - Commodity: gold - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: ECR.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Pierre Luc Richard, P.Geo., Stephen Coates, P.Eng. - Resource group id: resource:446cdd2e441985def727 - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 1730000 - Grade: 1.52 - Grade Unit: g/t - Contained Metal: 84500 - Contained Unit: oz - Cutoff Grade: 0.3 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-18 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: This Indicated Open Pit resource adds to the project's confidence, though at a lower grade than the Measured category, it supports the overall economic model. - Positive factor: Indicated category resource provides reasonable geological confidence - Positive factor: Contributes to the overall resource base for the PEA Evidence · table > 1.52 Context: 1,730,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/cartier-announces-updated-pea-for-the-cadillac-project-after-tax-npv5-of-c-1-0-b--cbd346ff-5d7d-484b-8b0d-b6e90748a195#fact-resource-facts-3) Cadillac Project · gold #### Identity - Project: Cadillac Project - Commodity: gold - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: ECR.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Pierre Luc Richard, P.Geo., Stephen Coates, P.Eng. - Resource group id: resource:d0a9492ecbd766a68c76 - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: indicated - Tonnes: 2240000 - Grade: 2.51 - Grade Unit: g/t - Contained Metal: 180600 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-18 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: This Indicated Underground resource provides a solid contribution to the project's economic viability with good grade and reasonable confidence. - Positive factor: Indicated category resource provides reasonable geological confidence - Positive factor: Good grade for underground gold - Positive factor: Contributes to the overall resource base for the PEA Evidence · table > 2.51 Context: 2,240,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/cartier-announces-updated-pea-for-the-cadillac-project-after-tax-npv5-of-c-1-0-b--cbd346ff-5d7d-484b-8b0d-b6e90748a195#fact-resource-facts-4) Cadillac Project · gold #### Identity - Project: Cadillac Project - Commodity: gold - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: ECR.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Pierre Luc Richard, P.Geo., Stephen Coates, P.Eng. - Resource group id: resource:4780905cd6d9f331fd5d - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 4740000 - Grade: 1.13 - Grade Unit: g/t - Contained Metal: 172600 - Contained Unit: oz - Cutoff Grade: 0.3 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-18 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: This Inferred Open Pit resource represents future potential but carries lower confidence, requiring further drilling for upgrade and economic viability. - Positive factor: Adds to the overall resource potential of the project - Positive factor: Potential for future upgrade to higher confidence categories - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone Evidence · table > 1.13 Context: 4,740,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/cartier-announces-updated-pea-for-the-cadillac-project-after-tax-npv5-of-c-1-0-b--cbd346ff-5d7d-484b-8b0d-b6e90748a195#fact-resource-facts-5) Cadillac Project · gold #### Identity - Project: Cadillac Project - Commodity: gold - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: ECR.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101, other - QP Signed: Yes - Qualified person names: Pierre Luc Richard, P.Geo., Stephen Coates, P.Eng. - Resource group id: resource:ded872370001e9d5dea2 - Mining method: combined - Ownership percent: 100 % #### Resource Data - Category: inferred - Tonnes: 30450000 - Grade: 2.29 - Grade Unit: g/t - Contained Metal: 2244200 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2025-12-18 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: This large Inferred Underground resource provides significant future potential for the project, but its preliminary nature means it requires further de-risking through additional drilling. - Positive factor: Significant tonnage and contained metal in the Inferred category, indicating substantial growth potential - Positive factor: Good grade for underground gold, suggesting economic potential upon upgrade - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone - Negative factor: Represents a large portion of the total resource, impacting overall project confidence Evidence · table > 2.29 Context: 30,450,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ## Metallurgical Results (1) ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/cartier-announces-updated-pea-for-the-cadillac-project-after-tax-npv5-of-c-1-0-b--cbd346ff-5d7d-484b-8b0d-b6e90748a195#fact-metallurgical-facts-6) Cadillac Project · gold #### Identity - Project: Cadillac Project - Commodity: gold - Region: canada\_qc - Reported Region: Quebec, Canada - Ticker: ECR.V #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: crushing, grinding, gravity concentration and cyanide leaching - Sample: six variability samples: two from each of the three main zones, Chimo, East Chimo, and West Nordeau - Grind P80: 50 µm #### Recovery - Recovery: 95 % - Recovery Basis: actual\_test - Head Grade: 2.28 - Head Grade Unit: g/t #### Lab - Consultant: Soutex Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-17T00:00:00.000Z Reasoning: The high gold recovery of 95% from detailed metallurgical testwork on multiple ore domains significantly de-risks the processing aspect of the Cadillac Project and underpins the positive PEA results. - Positive factor: Exceptional gold recovery of 95% for a conventional mill/CIL flowsheet - Positive factor: Testwork covered multiple ore domains, indicating good variability understanding - Positive factor: Supports the economic viability of the project as demonstrated in the PEA Evidence · text > Metallurgical recovery of 95%, supported by the 2026 metallurgical testwork program and a conventional flowsheet with crushing, grinding, gravity concentration and cyanide leaching. #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: processing\_route matches the gravity signal **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: 95% is at or above the exceptional band \(95%\) ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.