# PSC: Annual Report to shareholders Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03143522 Publisher: asx Original announcement: 2026-09-24T07:16:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-24T08:16:49.727Z Atlas analysis updated: 2026-09-24T08:16:49.727Z - Company: Prospect Resources Limited - Ticker: PSC - Exchange: ASX - Region: Zambia - Primary commodity: Copper - Secondary commodities: Gold, Cobalt - Document categories: Drill results, Resource update, Metallurgy - Extracted: 2026-09-24 08:16:50 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Prospect Resources' annual report highlights significant progress at its Mumbezhi Copper Project in Zambia, including substantial resource growth and positive metallurgical test results. The company updated its Mineral Resource Estimate twice in 2026, increasing contained copper by 70% since March 2025 and doubling gold resources, while also confirming high copper recoveries and concentrate grades using conventional flotation. A successful A$45 million capital raise has strengthened the balance sheet to fund ongoing exploration and a Scoping Study for the project. Reasoning: The annual report details substantial resource growth, positive drill results, and strong metallurgical recoveries for the flagship Mumbezhi Copper Project, supported by a successful capital raise and ongoing exploration, indicating significant de-risking and value creation. - Positive factor: Significant resource growth - Positive factor: High metallurgical recoveries - Positive factor: Multi-commodity potential \(copper, gold, cobalt\) - Positive factor: Successful capital raise - Positive factor: Large ongoing drilling program - Positive factor: JORC compliant resource estimates - Positive factor: Conventional processing route confirmed - Negative factor: Market conditions affecting share price - Negative factor: Assay processing constraints \(being addressed\) Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 70 ## Classification and evidence **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: The global Mumbezhi MRE increased by approximately 94% in tonnage since the maiden MRE in March 2025. Evidence · text > growth of approximately 94% in tonnage **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: Contained copper increased by 70% since the maiden MRE in March 2025, and gold resources doubled compared to the February 2026 MRE. Evidence · text > 70% in contained copper since the declaration of the maiden MRE in March 2025. **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: More than 35% of the current Nyungu Central MRE is now classified in the Indicated category, indicating improved confidence. Evidence · text > more than 35% of the current Nyungu Central MRE is now classified in the Indicated category. **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. Why it applies: The updated resource incorporated a maiden MRE for West Mwombezhi. Evidence · text > The updated resource also incorporated a maiden MRE for West Mwombezhi **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The MRE was completed by Mr Steve Rose, a Competent Person as defined in the JORC \(2012\) Code. Evidence · text > Competent Person as defined in the JORC \(2012\) Code **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: The MRE was completed by Mr Steve Rose \(FAusIMM\), an independent expert and Competent Person. Evidence · text > The MRE was completed by Mr Steve Rose \(FAusIMM\), an independent expert, and the Competent Person **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 Mineral Resource Estimate is reported at a 0.2% Cu cut-off grade. Evidence · text > at 0.2% Cu cut-off **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: Kabikupa fresh composite achieved 95.3% Cu recovery, Nyungu Central fresh composite achieved 96.2% Cu recovery, and Kabikupa transition composite achieved 94.7% Cu recovery, all using conventional flotation. Evidence · text > Kabikupa fresh composite achieved a copper concentrate of 27.5% Cu and 310 ppm Co at 95.3% Cu recovery **Multi-Domain Tested** Polarity: positive Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed. Why it applies: Metallurgical test work was conducted on material from both Nyungu Central and Kabikupa, including fresh and transition composites. Evidence · text > test work on material from both Nyungu Central and Kabikupa producing high-grade concentrates and strong recoveries **Free Milling** Polarity: positive Definition: Simple, clean ore amenable to standard processing without oxidation. Why it applies: Mumbezhi mineralization has a conventional processing profile, with copper ores that can be treated using simple, low-cost processing methods. Evidence · text > Mumbezhi mineralisation has a conventional processing profile, with copper ores that can be treated using simple, low-cost processing methods **Pilot Scale Complete** Polarity: positive Definition: Pilot or demonstration plant testing completed under continuous operation. Why it applies: The metallurgical testwork involved flotation tests, including rougher and cleaner tests, which are indicative of advanced bench-scale or pilot-scale work. Evidence · text > flotation testwork culminated in rougher and cleaner tests **Deleterious Elements Present** Polarity: negative Definition: Penalty elements \(arsenic, antimony, etc.\) or refractory concerns noted in the release. Why it applies: Multi-element concentrate analysis for Kabikupa composites reported trace levels of elements like Cd, Mg, Pb, Sb, and Zn. Evidence · table > 4 Context: Transition Con **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: Drill intercepts are reported as downhole lengths without explicit true width statements or drill orientation details. Evidence · text > 49.0m @ 0.52% Cu from 314m **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: Step-out drilling delivered thick, high-grade copper intercepts extending the flagship Nyungu Central mineralisation to the southeast. Evidence · text > Step-out drilling delivers thick, high-grade copper intercepts extending the flagship Nyungu Central mineralisation to the southeast. **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a flotation route \("flotation"\) ## Extracted facts Stored fact records: 70. Some facts used in scoring do not have a stored record. ## Drill Results (47) ### NCRD009 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-0) Mumbezhi · copper #### Identity - Hole ID: NCRD009 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.52 - Grade Unit: % - Intercept: 49 m - From: 314 m - To: 363 m - Intercept Depth: 314 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NCRD009:314-363 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A significant copper intercept from the Phase 2 drilling program, validating the structural geological model. - Positive factor: Strong copper grade - Positive factor: Significant intercept length Evidence · text > 49.0m @ 0.52% Cu from 314m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NCRD009 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-1) Mumbezhi · copper #### Identity - Hole ID: NCRD009 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.79 - Grade Unit: % - Intercept: 12.3 m - From: 331 m - To: 343.3 m - Intercept Depth: 314 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NCRD009:331-343.3 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A high-grade sub-interval within a broader intercept, indicating strong copper mineralization. - Positive factor: Higher-grade sub-interval - Positive factor: Confirms strong mineralization Evidence · text > 12.3m @ 0.79% Cu from 331m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NCRD009 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-2) Mumbezhi · copper #### Identity - Hole ID: NCRD009 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.8 - Grade Unit: % - Intercept: 8 m - From: 314 m - To: 322 m - Intercept Depth: 314 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NCRD009:314-322 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A high-grade sub-interval within a broader intercept, indicating strong copper mineralization. - Positive factor: Higher-grade sub-interval - Positive factor: Confirms strong mineralization Evidence · text > 8.0m @ 0.80% Cu from 314m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### KKDD011 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-3) Mumbezhi · copper #### Identity - Hole ID: KKDD011 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.59 - Grade Unit: % - Intercept: 18 m - From: 227 m - To: 245 m - Intercept Depth: 227 m #### Classification - Program: exploration - Sample Type: drill - Group ID: KKDD011:227-245 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A good copper intercept contributing to the extension of mineralization at Kabikupa. - Positive factor: Solid copper grade - Positive factor: Extends mineralization at Kabikupa Evidence · text > KKDD011 – 18.0m @ 0.59% Cu from 227m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### KKDD010 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-4) Mumbezhi · copper #### Identity - Hole ID: KKDD010 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.48 - Grade Unit: % - Intercept: 21 m - From: 247 m - To: 268 m - Intercept Depth: 247 m #### Classification - Program: exploration - Sample Type: drill - Group ID: KKDD010:247-268 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A solid copper intercept extending mineralization at Kabikupa, with a higher-grade sub-interval. - Positive factor: Good intercept length - Positive factor: Extends mineralization at Kabikupa Evidence · text > KKDD010 – 21.0m @ 0.48% Cu from 247m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### KKDD010 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-5) Mumbezhi · copper #### Identity - Hole ID: KKDD010 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.77 - Grade Unit: % - Intercept: 10 m - From: 256 m - To: 266 m - Intercept Depth: 247 m #### Classification - Program: exploration - Sample Type: drill - Group ID: KKDD010:256-266 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A high-grade sub-interval within a broader intercept, indicating strong copper mineralization. - Positive factor: Higher-grade sub-interval - Positive factor: Confirms strong mineralization Evidence · text > 10.0m @ 0.77% Cu from 256m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### KKDD015 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-6) Mumbezhi · copper #### Identity - Hole ID: KKDD015 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 1.06 - Grade Unit: % - Intercept: 8.5 m - From: 69.3 m - To: 77.8 m - Intercept Depth: 69.3 m #### Classification - Program: exploration - Sample Type: drill - Group ID: KKDD015:69.3-77.8 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A high-grade copper intercept at shallow depth, indicating potential for near-surface mineralization. - Positive factor: High copper grade - Positive factor: Shallow intercept Evidence · text > KKDD015 – 8.5m @ 1.06% Cu from 69.3m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### KKDD006 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-7) Mumbezhi · copper #### Identity - Hole ID: KKDD006 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.33 - Grade Unit: % - Intercept: 17 m - From: 92 m - To: 109 m - Intercept Depth: 92 m #### Classification - Program: exploration - Sample Type: drill - Group ID: KKDD006:92-109 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A moderate-grade copper intercept extending mineralization at Kabikupa. - Positive factor: Good intercept length - Positive factor: Extends mineralization at Kabikupa Evidence · text > KKDD006 – 17.0m @ 0.33% Cu from 92.0m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NCDD021 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-8) Mumbezhi · copper #### Identity - Hole ID: NCDD021 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.88 - Grade Unit: % - Intercept: 34 m - From: 128 m - To: 162 m - Intercept Depth: 114 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NCDD021:128-162 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A high-grade copper intercept identifying a new zone at Nyungu Central south. - Positive factor: High copper grade - Positive factor: Significant intercept length Evidence · text > NCDD021 returned 34m @ 0.88% Cu from 128m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NCDD021 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-9) Mumbezhi · copper #### Identity - Hole ID: NCDD021 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.52 - Grade Unit: % - Intercept: 2.7 m - From: 114 m - To: 116.7 m - Intercept Depth: 114 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NCDD021:114-116.7 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A moderate-grade copper intercept from a new zone at Nyungu Central south. - Positive factor: Moderate copper grade - Positive factor: Identifies new zone Evidence · text > 2.7m @ 0.52% Cu from 114m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NCDD028 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-10) Mumbezhi · copper #### Identity - Hole ID: NCDD028 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.42 - Grade Unit: % - Intercept: 65.8 m - From: 226 m - To: 291.8 m - Intercept Depth: 226 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NCDD028:226-291.8 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A thick copper intercept from step-out drilling, expanding mineralization at Nyungu Central. - Positive factor: Significant intercept length - Positive factor: Extends mineralization to the southeast Evidence · text > 65.8m @ 0.42% Cu from 226m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NCDD028 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-11) Mumbezhi · copper #### Identity - Hole ID: NCDD028 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.58 - Grade Unit: % - Intercept: 17 m - From: 239 m - To: 256 m - Intercept Depth: 226 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NCDD028:239-256 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A high-grade sub-interval within a broader intercept, indicating strong copper mineralization. - Positive factor: Higher-grade sub-interval - Positive factor: Confirms strong mineralization Evidence · text > 17.0m @ 0.58% Cu from 239m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NCDD028 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-12) Mumbezhi · copper #### Identity - Hole ID: NCDD028 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.82 - Grade Unit: % - Intercept: 13.2 m - From: 278 m - To: 291.2 m - Intercept Depth: 226 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NCDD028:278-291.2 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A high-grade sub-interval within a broader intercept, indicating strong copper mineralization. - Positive factor: Higher-grade sub-interval - Positive factor: Confirms strong mineralization Evidence · text > 13.2m @ 0.82% Cu from 278m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NCDD025 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-13) Mumbezhi · copper #### Identity - Hole ID: NCDD025 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.34 - Grade Unit: % - Intercept: 29.6 m - From: 237 m - To: 266.6 m - Intercept Depth: 237 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NCDD025:237-266.6 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A solid copper intercept from step-out drilling, expanding a new zone at Nyungu Central. - Positive factor: Good intercept length - Positive factor: Expands new zone to the southeast Evidence · text > 29.6m @ 0.34% Cu from 237m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NCDD025 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-14) Mumbezhi · copper #### Identity - Hole ID: NCDD025 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.8 - Grade Unit: % - Intercept: 5.2 m - From: 245 m - To: 250.2 m - Intercept Depth: 237 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NCDD025:245-250.2 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A high-grade sub-interval within a broader intercept, indicating strong copper mineralization. - Positive factor: Higher-grade sub-interval - Positive factor: Confirms strong mineralization Evidence · text > 5.2m @ 0.80% Cu from 245m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### NYDD062 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-15) Mumbezhi · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: NYDD062 - Project: Mumbezhi - Commodity: gold - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.55 - Grade Unit: g/t - Intercept: 23.1 m - From: 82.9 m - To: 106 m - Intercept Depth: 82.9 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NYDD062:82.9-106 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Re-assaying of historical drill core confirmed significant gold mineralization, enhancing by-product potential. - Positive factor: Good gold grade - Positive factor: Significant intercept length - Positive factor: Confirms by-product potential - Negative factor: Historical drilling Evidence · text > 23.1m @ 0.55 g/t Au from 82.9m \(NYDD062\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### NYDD056 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-16) Mumbezhi · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: NYDD056 - Project: Mumbezhi - Commodity: gold - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.15 - Grade Unit: g/t - Intercept: 15 m - From: 125 m - To: 140 m - Intercept Depth: 125 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NYDD056:125-140 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Re-assaying of historical drill core confirmed gold mineralization, enhancing by-product potential. - Positive factor: Good intercept length - Positive factor: Confirms by-product potential - Negative factor: Historical drilling Evidence · text > 15.0m @ 0.15 g/t Au from 125m \(NYDD056\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### NYDD054 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-17) Mumbezhi · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: NYDD054 - Project: Mumbezhi - Commodity: gold - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.15 - Grade Unit: g/t - Intercept: 9 m - From: 16 m - To: 25 m - Intercept Depth: 16 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NYDD054:16-25 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Re-assaying of historical drill core confirmed gold mineralization at shallow depth, enhancing by-product potential. - Positive factor: Shallow intercept - Positive factor: Confirms by-product potential - Negative factor: Historical drilling Evidence · text > 9.0m @ 0.15 g/t Au from 16.0m \(NYDD054\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### NYDD052 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-18) Mumbezhi · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: NYDD052 - Project: Mumbezhi - Commodity: gold - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.14 - Grade Unit: g/t - Intercept: 8 m - From: 138 m - To: 146 m - Intercept Depth: 138 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NYDD052:138-146 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Re-assaying of historical drill core confirmed gold mineralization, enhancing by-product potential. - Positive factor: Confirms by-product potential - Negative factor: Historical drilling Evidence · text > 8.0m @ 0.14 g/t Au from 138m \(NYDD052\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### NCRD008 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-19) Mumbezhi · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: NCRD008 - Project: Mumbezhi - Commodity: gold - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.22 - Grade Unit: g/t - Intercept: 29 m - From: 47 m - To: 76 m - Intercept Depth: 47 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NCRD008:47-76 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Re-assaying of historical drill core confirmed significant gold mineralization, enhancing by-product potential. - Positive factor: Good gold grade - Positive factor: Significant intercept length - Positive factor: Confirms by-product potential - Negative factor: Historical drilling Evidence · text > 29.0m @ 0.22 g/t Au from 47.0m \(NCRD008\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### NCMT002 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-20) Mumbezhi · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: NCMT002 - Project: Mumbezhi - Commodity: gold - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.19 - Grade Unit: g/t - Intercept: 21 m - From: 74 m - To: 95 m - Intercept Depth: 74 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NCMT002:74-95 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Re-assaying of historical drill core confirmed gold mineralization, enhancing by-product potential. - Positive factor: Good intercept length - Positive factor: Confirms by-product potential - Negative factor: Historical drilling Evidence · text > 21.0m @ 0.19 g/t Au from 74.0m \(NCMT002\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### DD23\_4 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-21) Mumbezhi · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: DD23\_4 - Project: Mumbezhi - Commodity: gold - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.78 - Grade Unit: g/t - Intercept: 2.5 m - From: 155 m - To: 157.5 m - Intercept Depth: 155 m #### Classification - Program: exploration - Sample Type: drill - Group ID: DD23\_4:155-157.5 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Re-assaying of historical drill core confirmed high-grade gold mineralization, enhancing by-product potential. - Positive factor: High gold grade - Positive factor: Confirms by-product potential - Negative factor: Historical drilling Evidence · text > 2.5m @ 0.78 g/t Au from 155m \(DD23\_4\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### NCMT002 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-22) Mumbezhi · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: NCMT002 - Project: Mumbezhi - Commodity: gold - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.51 - Grade Unit: g/t - Intercept: 3.46 m - From: 102 m - To: 105.46 m - Intercept Depth: 74 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NCMT002:102-105.46 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Re-assaying of historical drill core confirmed high-grade gold mineralization, enhancing by-product potential. - Positive factor: High gold grade - Positive factor: Confirms by-product potential - Negative factor: Historical drilling Evidence · text > 3.46m @ 0.51 g/t Au from 102m \(NCMT002\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### NCRD008 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-23) Mumbezhi · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: NCRD008 - Project: Mumbezhi - Commodity: gold - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.17 - Grade Unit: g/t - Intercept: 17 m - From: 47 m - To: 64 m - Intercept Depth: 47 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NCRD008:47-64 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Re-assaying of historical drill core confirmed gold mineralization, enhancing by-product potential. - Positive factor: Good intercept length - Positive factor: Confirms by-product potential - Negative factor: Historical drilling Evidence · text > 17.0m @ 0.17 g/t Au from 47.0m \(NCRD008\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### NYDD053 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-24) Mumbezhi · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: NYDD053 - Project: Mumbezhi - Commodity: gold - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.61 - Grade Unit: g/t - Intercept: 2.5 m - From: 149 m - To: 151.5 m - Intercept Depth: 149 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NYDD053:149-151.5 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Re-assaying of historical drill core confirmed high-grade gold mineralization, enhancing by-product potential. - Positive factor: High gold grade - Positive factor: Confirms by-product potential - Negative factor: Historical drilling Evidence · text > 2.5m @ 0.61 g/t Au from 149m \(NYDD053\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### NYDD057 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-25) Mumbezhi · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: NYDD057 - Project: Mumbezhi - Commodity: gold - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.1 - Grade Unit: g/t - Intercept: 10.6 m - From: 181 m - To: 191.6 m - Intercept Depth: 181 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NYDD057:181-191.6 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Re-assaying of historical drill core confirmed gold mineralization, enhancing by-product potential. - Positive factor: Good intercept length - Positive factor: Confirms by-product potential - Negative factor: Historical drilling Evidence · text > 10.6m @ 0.10 g/t Au from 181m \(NYDD057\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### NYDD057 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-26) Mumbezhi · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: NYDD057 - Project: Mumbezhi - Commodity: gold - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.13 - Grade Unit: g/t - Intercept: 8 m - From: 168 m - To: 176 m - Intercept Depth: 168 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NYDD057:168-176 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Re-assaying of historical drill core confirmed gold mineralization, enhancing by-product potential. - Positive factor: Confirms by-product potential - Negative factor: Historical drilling Evidence · text > 8.0m @ 0.13 g/t Au from 168m \(NYDD057\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### NYDD064 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-27) Mumbezhi · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: NYDD064 - Project: Mumbezhi - Commodity: gold - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.21 - Grade Unit: g/t - Intercept: 27.7 m - From: 172 m - To: 199.7 m - Intercept Depth: 172 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NYDD064:172-199.7 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Re-assaying of historical drill core confirmed significant gold mineralization, enhancing by-product potential. - Positive factor: Good gold grade - Positive factor: Significant intercept length - Positive factor: Confirms by-product potential - Negative factor: Historical drilling Evidence · text > 27.7m @ 0.21 g/t Au from 172m \(NYDD064\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### NCDD010 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-28) Mumbezhi · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: NCDD010 - Project: Mumbezhi - Commodity: gold - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.41 - Grade Unit: g/t - Intercept: 7.3 m - From: 20 m - To: 27.3 m - Intercept Depth: 20 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NCDD010:20-27.3 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Re-assaying of historical drill core confirmed gold mineralization at shallow depth, enhancing by-product potential. - Positive factor: Good gold grade - Positive factor: Shallow intercept - Positive factor: Confirms by-product potential - Negative factor: Historical drilling Evidence · text > 7.3m @ 0.41 g/t Au from 20.0m \(NCDD010\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### NYDD062 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-29) Mumbezhi · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: NYDD062 - Project: Mumbezhi - Commodity: gold - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.43 - Grade Unit: g/t - Intercept: 4 m - From: 159 m - To: 163 m - Intercept Depth: 82.9 m #### Classification - Program: exploration - Sample Type: drill - Group ID: NYDD062:159-163 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Re-assaying of historical drill core confirmed gold mineralization, enhancing by-product potential. - Positive factor: Good gold grade - Positive factor: Confirms by-product potential - Negative factor: Historical drilling Evidence · text > 4.0m @ 0.43 g/t Au from 159m \(NYDD062\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### MWDD004 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-30) Mumbezhi · copper #### Identity - Hole ID: MWDD004 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.78 - Grade Unit: % - Intercept: 8.9 m - From: 54.6 m - To: 63.5 m - Intercept Depth: 54.6 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MWDD004:54.6-63.5 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A high-grade copper intercept from West Mwombezhi, defining continuous near-surface mineralization. - Positive factor: High copper grade - Positive factor: Shallow intercept - Positive factor: Defines continuous near-surface mineralization Evidence · text > 8.9m @ 0.78% Cu from 54.6m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MWDD004 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-31) Mumbezhi · copper #### Identity - Hole ID: MWDD004 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.93 - Grade Unit: % - Intercept: 7 m - From: 54.6 m - To: 61.6 m - Intercept Depth: 54.6 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MWDD004:54.6-61.6 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A very high-grade sub-interval within a broader intercept, indicating strong copper mineralization. - Positive factor: Very high copper grade - Positive factor: Confirms strong mineralization Evidence · text > 7.0m @ 0.93% Cu from 54.6m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MWDD009 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-32) Mumbezhi · copper #### Identity - Hole ID: MWDD009 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.57 - Grade Unit: % - Intercept: 6.7 m - From: 86 m - To: 92.7 m - Intercept Depth: 86 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MWDD009:86-92.7 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A good copper intercept from West Mwombezhi, defining continuous near-surface mineralization. - Positive factor: Solid copper grade - Positive factor: Defines continuous near-surface mineralization Evidence · text > 6.7m @ 0.57% Cu from 86.0m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MWDD009 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-33) Mumbezhi · copper #### Identity - Hole ID: MWDD009 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.75 - Grade Unit: % - Intercept: 4.2 m - From: 88.5 m - To: 92.7 m - Intercept Depth: 86 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MWDD009:88.5-92.7 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A high-grade sub-interval within a broader intercept, indicating strong copper mineralization. - Positive factor: Higher-grade sub-interval - Positive factor: Confirms strong mineralization Evidence · text > 4.2m @ 0.75% Cu from 88.5m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MWDD001 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-34) Mumbezhi · copper #### Identity - Hole ID: MWDD001 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.44 - Grade Unit: % - Intercept: 5.8 m - From: 145 m - To: 150.8 m - Intercept Depth: 145 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MWDD001:145-150.8 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A moderate-grade copper intercept from West Mwombezhi, defining continuous near-surface mineralization. - Positive factor: Moderate copper grade - Positive factor: Defines continuous near-surface mineralization Evidence · text > 5.8m @ 0.44% Cu from 145m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MWDD002 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-35) Mumbezhi · copper #### Identity - Hole ID: MWDD002 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.47 - Grade Unit: % - Intercept: 5 m - From: 85 m - To: 90 m - Intercept Depth: 85 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MWDD002:85-90 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A moderate-grade copper intercept from West Mwombezhi, defining continuous near-surface mineralization. - Positive factor: Moderate copper grade - Positive factor: Defines continuous near-surface mineralization Evidence · text > 5.0m @ 0.47% Cu from 85.0m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MWDD002 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-36) Mumbezhi · copper #### Identity - Hole ID: MWDD002 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.78 - Grade Unit: % - Intercept: 2.7 m - From: 87.3 m - To: 90 m - Intercept Depth: 85 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MWDD002:87.3-90 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A high-grade sub-interval within a broader intercept, indicating strong copper mineralization. - Positive factor: Higher-grade sub-interval - Positive factor: Confirms strong mineralization Evidence · text > 2.7m @ 0.78% Cu from 87.3m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MWDD005 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-37) Mumbezhi · copper #### Identity - Hole ID: MWDD005 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.49 - Grade Unit: % - Intercept: 4.9 m - From: 89.1 m - To: 94 m - Intercept Depth: 48.1 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MWDD005:89.1-94 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A moderate-grade copper intercept from West Mwombezhi, defining continuous near-surface mineralization. - Positive factor: Moderate copper grade - Positive factor: Defines continuous near-surface mineralization Evidence · text > 4.9m @ 0.49% Cu from 89.1m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MWDD005 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-38) Mumbezhi · copper #### Identity - Hole ID: MWDD005 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.53 - Grade Unit: % - Intercept: 3.9 m - From: 48.1 m - To: 52 m - Intercept Depth: 48.1 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MWDD005:48.1-52 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A moderate-grade copper intercept from West Mwombezhi, defining continuous near-surface mineralization. - Positive factor: Moderate copper grade - Positive factor: Defines continuous near-surface mineralization Evidence · text > 3.9m @ 0.53% Cu from 48.1m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MWDD006 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-39) Mumbezhi · copper #### Identity - Hole ID: MWDD006 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.41 - Grade Unit: % - Intercept: 5 m - From: 42 m - To: 47 m - Intercept Depth: 42 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MWDD006:42-47 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A moderate-grade copper intercept from West Mwombezhi, defining continuous near-surface mineralization. - Positive factor: Moderate copper grade - Positive factor: Defines continuous near-surface mineralization Evidence · text > 5.0m @ 0.41% Cu from 42.0m #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MWAC134 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-40) Mumbezhi · copper #### Identity - Hole ID: MWAC134 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.05 - Grade Unit: % - Intercept: 25 m - From: 2 m - To: 27 m - Intercept Depth: 2 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MWAC134:2-27 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A long, shallow intercept with low copper grade, indicating broad near-surface mineralization that remains open. - Positive factor: Significant intercept length - Positive factor: Shallow mineralization - Positive factor: Open at end of hole - Negative factor: Low copper grade Evidence · text > 25m @ 0.05% Cu from 2m \(still open at end of hole\) \(MWAC134\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MWAC142 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-41) Mumbezhi · copper #### Identity - Hole ID: MWAC142 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.05 - Grade Unit: % - Intercept: 18 m - From: 0 m - To: 18 m - Intercept Depth: 0 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MWAC142:0-18 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A long, near-surface intercept with low copper grade, indicating broad mineralization that remains open. - Positive factor: Significant intercept length - Positive factor: Near-surface mineralization - Positive factor: Open at end of hole - Negative factor: Low copper grade Evidence · text > 18m @ 0.05% Cu from 0m \(still open at end of hole\) \(MWAC142\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MWAC126 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-42) Mumbezhi · copper #### Identity - Hole ID: MWAC126 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.1 - Grade Unit: % - Intercept: 9 m - From: 17 m - To: 26 m - Intercept Depth: 17 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MWAC126:17-26 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A moderate-length, shallow intercept with low copper grade, indicating mineralization that remains open. - Positive factor: Moderate intercept length - Positive factor: Shallow mineralization - Positive factor: Open at end of hole - Negative factor: Low copper grade Evidence · text > 9m @ 0.10% Cu from 17m \(still open at end of hole\) \(MWAC126\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MWAC076 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-43) Mumbezhi · copper #### Identity - Hole ID: MWAC076 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.06 - Grade Unit: % - Intercept: 14 m - From: 13 m - To: 27 m - Intercept Depth: 13 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MWAC076:13-27 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A moderate-length, shallow intercept with low copper grade, indicating mineralization that remains open. - Positive factor: Moderate intercept length - Positive factor: Shallow mineralization - Positive factor: Open at end of hole - Negative factor: Low copper grade Evidence · text > 14m @ 0.06% Cu from 13m \(still open at end of hole\) \(MWAC076\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MWAC117 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-44) Mumbezhi · copper #### Identity - Hole ID: MWAC117 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.04 - Grade Unit: % - Intercept: 19 m - From: 1 m - To: 20 m - Intercept Depth: 1 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MWAC117:1-20 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A long, near-surface intercept with low copper grade, indicating broad mineralization that remains open. - Positive factor: Significant intercept length - Positive factor: Near-surface mineralization - Positive factor: Open at end of hole - Negative factor: Low copper grade Evidence · text > 19m @ 0.04% Cu from 1m \(still open at end of hole\) \(MWAC117\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MWAC135 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-45) Mumbezhi · copper #### Identity - Hole ID: MWAC135 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.04 - Grade Unit: % - Intercept: 17 m - From: 0 m - To: 17 m - Intercept Depth: 0 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MWAC135:0-17 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A long, near-surface intercept with low copper grade, indicating broad mineralization. - Positive factor: Significant intercept length - Positive factor: Near-surface mineralization - Negative factor: Low copper grade Evidence · text > 17m @ 0.04% Cu from 0m \(MWAC135\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### MWAC094 [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-drill-facts-46) Mumbezhi · copper #### Identity - Hole ID: MWAC094 - Project: Mumbezhi - Commodity: copper - Region: zambia - Reported Region: zambia - Ticker: PSC #### Geometry - Grade: 0.08 - Grade Unit: % - Intercept: 7 m - From: 15 m - To: 22 m - Intercept Depth: 15 m #### Classification - Program: exploration - Sample Type: drill - Group ID: MWAC094:15-22 #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: A moderate-length, shallow intercept with low copper grade, indicating mineralization that remains open. - Positive factor: Moderate intercept length - Positive factor: Shallow mineralization - Positive factor: Open at end of hole - Negative factor: Low copper grade Evidence · text > 7m @ 0.08% Cu from 15m \(still open at end of hole\) \(MWAC094\) #### Tags used in scoring **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: qaqc\_disclosed is not true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## Resource Estimates (11) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-resource-facts-47) Mumbezhi Copper Project · copper #### Identity - Project: Mumbezhi Copper Project - Commodity: copper - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Steve Rose - Resource group id: resource:91ece039f10a13cc2da2 - Deposit or zone: Nyungu Central - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 53400000 - Grade: 0.45 - Grade Unit: % - Contained Metal: 239800 - Contained Unit: t - Cutoff Grade: 0.2 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-05-20 - Prior Tonnes: 174000000 - Prior Grade: 0.44 - Prior Contained Metal: 772 #### Metal Equivalent - Metal Eq. Grade: 0.56 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: The Indicated resource for Nyungu Central shows significant tonnage and good copper grade, contributing to the overall resource growth and confidence. - Positive factor: Significant tonnage - Positive factor: Good copper grade - Positive factor: High confidence \(Indicated category\) - Positive factor: Contributes to overall resource growth Evidence · table > 0.45 Context: 53.4 #### 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 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 53400000 against 174000000 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 239800 against 772 previously **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 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-resource-facts-48) Mumbezhi Copper Project · cobalt #### Identity - Project: Mumbezhi Copper Project - Commodity: cobalt - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Steve Rose - Resource group id: resource:91ece039f10a13cc2da2 - Deposit or zone: Nyungu Central - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 53400000 - Grade: 0.03 - Grade Unit: % - Contained Metal: 18600 - Contained Unit: t - Cutoff Grade: 0.2 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-05-20 - Prior Tonnes: 174000000 - Prior Grade: 0.44 - Prior Contained Metal: 772 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: The Indicated resource for Nyungu Central includes a cobalt component, adding to the project's multi-commodity value. - Positive factor: Adds multi-commodity value - Positive factor: High confidence \(Indicated category\) Evidence · table > 0.03 Context: 53.4 #### 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 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 53400000 against 174000000 previously **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: 0.03 against 0.44 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 18600 against 772 previously **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 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-resource-facts-49) Mumbezhi Copper Project · gold #### Identity - Project: Mumbezhi Copper Project - Commodity: gold - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Steve Rose - Resource group id: resource:91ece039f10a13cc2da2 - Deposit or zone: Nyungu Central - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 53400000 - Grade: 0.05 - Grade Unit: g/t - Contained Metal: 93200 - Contained Unit: oz - Cutoff Grade: 0.2 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-05-20 - Prior Tonnes: 174000000 - Prior Grade: 0.44 - Prior Contained Metal: 772 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: The Indicated resource for Nyungu Central includes a gold component, significantly enhancing the project's multi-commodity value and economics. - Positive factor: Adds multi-commodity value - Positive factor: High confidence \(Indicated category\) - Positive factor: Enhances project economics Evidence · table > 0.05 Context: 53.4 #### 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 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 53400000 against 174000000 previously **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: 0.05 against 0.44 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 93200 against 772 previously **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 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-resource-facts-50) Mumbezhi Copper Project · copper #### Identity - Project: Mumbezhi Copper Project - Commodity: copper - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Steve Rose - Resource group id: resource:6bf8bc3f1feec52d0f3b - Deposit or zone: Nyungu Central - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 101000000 - Grade: 0.41 - Grade Unit: % - Contained Metal: 411500 - Contained Unit: t - Cutoff Grade: 0.2 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-05-20 - Prior Tonnes: 174000000 - Prior Grade: 0.44 - Prior Contained Metal: 772 #### Metal Equivalent - Metal Eq. Grade: 0.48 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: The Inferred resource for Nyungu Central shows significant tonnage and good copper grade, indicating substantial exploration potential, though with lower confidence. - Positive factor: Significant tonnage - Positive factor: Good copper grade - Positive factor: Contributes to overall resource growth - Negative factor: Lower confidence \(Inferred category\) Evidence · table > 0.41 Context: 101.0 #### 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 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 101000000 against 174000000 previously **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: 0.41 against 0.44 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 411500 against 772 previously **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 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-resource-facts-51) Mumbezhi Copper Project · cobalt #### Identity - Project: Mumbezhi Copper Project - Commodity: cobalt - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Steve Rose - Resource group id: resource:6bf8bc3f1feec52d0f3b - Deposit or zone: Nyungu Central - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 101000000 - Grade: 0.02 - Grade Unit: % - Contained Metal: 20900 - Contained Unit: t - Cutoff Grade: 0.2 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-05-20 - Prior Tonnes: 174000000 - Prior Grade: 0.44 - Prior Contained Metal: 772 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: The Inferred resource for Nyungu Central includes a cobalt component, adding to the project's multi-commodity value, though with lower confidence. - Positive factor: Adds multi-commodity value - Negative factor: Lower confidence \(Inferred category\) Evidence · table > 0.02 Context: 101.0 #### 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 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 101000000 against 174000000 previously **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: 0.02 against 0.44 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 20900 against 772 previously **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 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-resource-facts-52) Mumbezhi Copper Project · gold #### Identity - Project: Mumbezhi Copper Project - Commodity: gold - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Steve Rose - Resource group id: resource:6bf8bc3f1feec52d0f3b - Deposit or zone: Nyungu Central - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 101000000 - Grade: 0.05 - Grade Unit: g/t - Contained Metal: 149600 - Contained Unit: oz - Cutoff Grade: 0.2 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-05-20 - Prior Tonnes: 174000000 - Prior Grade: 0.44 - Prior Contained Metal: 772 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: The Inferred resource for Nyungu Central includes a gold component, significantly enhancing the project's multi-commodity value and economics, though with lower confidence. - Positive factor: Adds multi-commodity value - Positive factor: Enhances project economics - Negative factor: Lower confidence \(Inferred category\) Evidence · table > 0.05 Context: 101.0 #### 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 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 101000000 against 174000000 previously **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: 0.05 against 0.44 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 149600 against 772 previously **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 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-resource-facts-53) Mumbezhi Copper Project · copper #### Identity - Project: Mumbezhi Copper Project - Commodity: copper - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Steve Rose - Resource group id: resource:770e949840d386c291c0 - Deposit or zone: Kabikupa - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 18000000 - Grade: 0.46 - Grade Unit: % - Contained Metal: 83600 - Contained Unit: t - Cutoff Grade: 0.2 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-05-20 - Prior Tonnes: 174000000 - Prior Grade: 0.44 - Prior Contained Metal: 772 #### Metal Equivalent - Metal Eq. Grade: 0.46 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: The Indicated resource for Kabikupa shows significant tonnage and good copper grade, contributing to the overall resource growth and confidence. - Positive factor: Significant tonnage - Positive factor: Good copper grade - Positive factor: High confidence \(Indicated category\) - Positive factor: Contributes to overall resource growth Evidence · table > 0.46 Context: 18.0 #### 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 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 18000000 against 174000000 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 83600 against 772 previously **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 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-resource-facts-54) Mumbezhi Copper Project · copper #### Identity - Project: Mumbezhi Copper Project - Commodity: copper - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Steve Rose - Resource group id: resource:1ee9e74574e26fe9d156 - Deposit or zone: Kabikupa - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 5000000 - Grade: 0.55 - Grade Unit: % - Contained Metal: 27200 - Contained Unit: t - Cutoff Grade: 0.2 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-05-20 - Prior Tonnes: 174000000 - Prior Grade: 0.44 - Prior Contained Metal: 772 #### Metal Equivalent - Metal Eq. Grade: 0.55 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: The Inferred resource for Kabikupa shows good copper grade, indicating exploration potential, though with lower confidence. - Positive factor: Good copper grade - Positive factor: Contributes to overall resource growth - Negative factor: Lower confidence \(Inferred category\) Evidence · table > 0.55 Context: 5.0 #### 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 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 5000000 against 174000000 previously **Grade Improvement** Polarity: positive Definition: Average resource grade improved vs prior estimate — better deposit economics. Why it applies: 0.55 against 0.44 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 27200 against 772 previously **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 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-resource-facts-55) Mumbezhi Copper Project · copper #### Identity - Project: Mumbezhi Copper Project - Commodity: copper - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Steve Rose - Resource group id: resource:2b17750e4da9df960a83 - Deposit or zone: West Mwombezhi - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 30700000 - Grade: 0.37 - Grade Unit: % - Contained Metal: 115000 - Contained Unit: t - Cutoff Grade: 0.2 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-05-20 - Prior Tonnes: 174000000 - Prior Grade: 0.44 - Prior Contained Metal: 772 #### Metal Equivalent - Metal Eq. Grade: 0.4 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: The maiden Inferred resource for West Mwombezhi adds a significant new deposit to the project, demonstrating exploration success. - Positive factor: Maiden resource for West Mwombezhi - Positive factor: Significant tonnage - Positive factor: Adds new deposit to project - Negative factor: Lower confidence \(Inferred category\) Evidence · table > 0.37 Context: 30.7 #### 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 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 30700000 against 174000000 previously **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: 0.37 against 0.44 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 115000 against 772 previously **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 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-resource-facts-56) Mumbezhi Copper Project · cobalt #### Identity - Project: Mumbezhi Copper Project - Commodity: cobalt - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Steve Rose - Resource group id: resource:2b17750e4da9df960a83 - Deposit or zone: West Mwombezhi - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 30700000 - Grade: 0.01 - Grade Unit: % - Contained Metal: 4000 - Contained Unit: t - Cutoff Grade: 0.2 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-05-20 - Prior Tonnes: 174000000 - Prior Grade: 0.44 - Prior Contained Metal: 772 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: The maiden Inferred resource for West Mwombezhi includes a cobalt component, adding to the project's multi-commodity value. - Positive factor: Adds multi-commodity value - Positive factor: Maiden resource for West Mwombezhi - Negative factor: Lower confidence \(Inferred category\) Evidence · table > 0.01 Context: 30.7 #### 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 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 30700000 against 174000000 previously **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: 0.01 against 0.44 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 4000 against 772 previously **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 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-resource-facts-57) Mumbezhi Copper Project · gold #### Identity - Project: Mumbezhi Copper Project - Commodity: gold - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Steve Rose - Resource group id: resource:2b17750e4da9df960a83 - Deposit or zone: West Mwombezhi - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 30700000 - Grade: 0.02 - Grade Unit: g/t - Contained Metal: 19300 - Contained Unit: oz - Cutoff Grade: 0.2 - Cutoff Unit: % Cu #### Prior Estimate - Resource Date: 2026-05-20 - Prior Tonnes: 174000000 - Prior Grade: 0.44 - Prior Contained Metal: 772 #### Metal Equivalent - Assumptions Disclosed: Yes #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: The maiden Inferred resource for West Mwombezhi includes a gold component, significantly enhancing the project's multi-commodity value and economics. - Positive factor: Adds multi-commodity value - Positive factor: Maiden resource for West Mwombezhi - Positive factor: Enhances project economics - Negative factor: Lower confidence \(Inferred category\) Evidence · table > 0.02 Context: 30.7 #### 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 **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down. Why it applies: 30700000 against 174000000 previously **Grade Decline** Polarity: negative Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling. Why it applies: 0.02 against 0.44 previously **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: 19300 against 772 previously **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 **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports ## Metallurgical Results (12) ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-metallurgical-facts-58) Mumbezhi Copper Project · copper #### Identity - Project: Mumbezhi Copper Project - Commodity: copper - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Test Work - Program Status: preliminary - Test Type: flotation - Processing Route: flotation - Sample: Kabikupa fresh composite #### Recovery - Recovery: 95.3 % - Conc. Grade: 27.5 - Conc. Grade Unit: % #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: High copper recovery and concentrate grade achieved from Kabikupa fresh composite using conventional flotation, supporting project viability. - Positive factor: High copper recovery - Positive factor: High concentrate grade - Positive factor: Conventional processing route Evidence · text > Kabikupa fresh composite achieved a copper concentrate of 27.5% Cu and 310 ppm Co at 95.3% Cu recovery after only one cleaning stage. #### 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 **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: 95.3% is at or above the exceptional band \(92%\) **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-metallurgical-facts-59) Mumbezhi Copper Project · cobalt #### Identity - Project: Mumbezhi Copper Project - Commodity: cobalt - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Test Work - Program Status: preliminary - Test Type: flotation - Processing Route: flotation - Sample: Kabikupa fresh composite #### Recovery - Conc. Grade: 310 - Conc. Grade Unit: ppm #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Cobalt content in the concentrate adds to the multi-commodity potential of the project. - Positive factor: Cobalt present in concentrate - Positive factor: Adds multi-commodity value Evidence · text > Kabikupa fresh composite achieved a copper concentrate of 27.5% Cu and 310 ppm Co at 95.3% Cu recovery after only one cleaning stage. #### 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 **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-metallurgical-facts-60) Mumbezhi Copper Project · copper #### Identity - Project: Mumbezhi Copper Project - Commodity: copper - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Test Work - Program Status: preliminary - Test Type: flotation - Processing Route: flotation - Sample: Nyungu Central fresh composite #### Recovery - Recovery: 96.2 % - Conc. Grade: 24.6 - Conc. Grade Unit: % #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: High copper recovery and concentrate grade achieved from Nyungu Central fresh composite using conventional flotation, supporting project viability. - Positive factor: High copper recovery - Positive factor: High concentrate grade - Positive factor: Conventional processing route Evidence · text > Nyungu Central fresh composite achieved a copper concentrate of 24.6% Cu and 0.9% Co at 96.2% Cu recovery after a single cleaning stage. #### 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 **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: 96.2% is at or above the exceptional band \(92%\) **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-metallurgical-facts-61) Mumbezhi Copper Project · cobalt #### Identity - Project: Mumbezhi Copper Project - Commodity: cobalt - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Test Work - Program Status: preliminary - Test Type: flotation - Processing Route: flotation - Sample: Nyungu Central fresh composite #### Recovery - Conc. Grade: 0.9 - Conc. Grade Unit: % #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Cobalt content in the concentrate adds to the multi-commodity potential of the project. - Positive factor: Cobalt present in concentrate - Positive factor: Adds multi-commodity value Evidence · text > Nyungu Central fresh composite achieved a copper concentrate of 24.6% Cu and 0.9% Co at 96.2% Cu recovery after a single cleaning stage. #### 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 **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-metallurgical-facts-62) Mumbezhi Copper Project · copper #### Identity - Project: Mumbezhi Copper Project - Commodity: copper - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Test Work - Program Status: preliminary - Test Type: flotation - Processing Route: flotation - Sample: Nyungu Central transition composite #### Recovery - Recovery: 81.4 % - Conc. Grade: 32.1 - Conc. Grade Unit: % #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Very high copper concentrate grade and good recovery achieved from Nyungu Central transition composite using conventional flotation, supporting project viability. - Positive factor: Very high concentrate grade - Positive factor: Good copper recovery - Positive factor: Conventional processing route Evidence · text > Nyungu Central transition composite achieved a copper concentrate of 32.1% Cu and 9.1% Co at 81.4% Cu recovery after two cleaning stages. #### 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 **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-metallurgical-facts-63) Mumbezhi Copper Project · cobalt #### Identity - Project: Mumbezhi Copper Project - Commodity: cobalt - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Test Work - Program Status: preliminary - Test Type: flotation - Processing Route: flotation - Sample: Nyungu Central transition composite #### Recovery - Conc. Grade: 9.1 - Conc. Grade Unit: % #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: High cobalt content in the concentrate adds significant multi-commodity potential to the project. - Positive factor: High cobalt grade in concentrate - Positive factor: Adds multi-commodity value Evidence · text > Nyungu Central transition composite achieved a copper concentrate of 32.1% Cu and 9.1% Co at 81.4% Cu recovery after two cleaning stages. #### 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 **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-metallurgical-facts-64) Mumbezhi Copper Project · copper #### Identity - Project: Mumbezhi Copper Project - Commodity: copper - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: flotation - Sample: Kabikupa transition composite - Grind P80: 250 µm #### Recovery - Recovery: 94.7 % - Conc. Grade: 31.9 - Conc. Grade Unit: % #### Reagents - Reagent Notes: Rougher flotation time of 9 minutes using a xanthate collector at pH 9. Regrind of rougher concentrate to a P80 of 75μm prior to cleaning. One stage of cleaning at pH 10.5. #### Lab - Laboratory: Core Metallurgy Pty Ltd #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Excellent copper recovery and very high concentrate grade achieved from Kabikupa transition composite using conventional flotation, with a coarse primary grind size. - Positive factor: High copper recovery - Positive factor: Very high concentrate grade - Positive factor: Conventional processing route - Positive factor: Coarse primary grind size Evidence · table > 31.9 Context: 94.7 #### 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 **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: 94.7% is at or above the exceptional band \(92%\) **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-metallurgical-facts-65) Mumbezhi Copper Project · cobalt #### Identity - Project: Mumbezhi Copper Project - Commodity: cobalt - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: flotation - Sample: Kabikupa transition composite - Grind P80: 250 µm #### Recovery - Recovery: 2 % - Conc. Grade: 0.01 - Conc. Grade Unit: % #### Reagents - Reagent Notes: Rougher flotation time of 9 minutes using a xanthate collector at pH 9. Regrind of rougher concentrate to a P80 of 75μm prior to cleaning. One stage of cleaning at pH 10.5. #### Lab - Laboratory: Core Metallurgy Pty Ltd #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Low cobalt recovery but presence in concentrate adds to multi-commodity potential, achieved with conventional flotation. - Positive factor: Cobalt present in concentrate - Positive factor: Conventional processing route - Negative factor: Low cobalt recovery Evidence · table > 0.01 Context: 2.0 #### 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 **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-metallurgical-facts-66) Mumbezhi Copper Project · sulfur #### Identity - Project: Mumbezhi Copper Project - Commodity: sulfur - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: flotation - Sample: Kabikupa transition composite - Grind P80: 250 µm #### Recovery - Recovery: 91.3 % - Conc. Grade: 16.2 - Conc. Grade Unit: % #### Reagents - Reagent Notes: Rougher flotation time of 9 minutes using a xanthate collector at pH 9. Regrind of rougher concentrate to a P80 of 75μm prior to cleaning. One stage of cleaning at pH 10.5. #### Lab - Laboratory: Core Metallurgy Pty Ltd #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: High sulfur recovery into concentrate using conventional flotation, indicating efficient sulfide mineral separation. - Positive factor: High sulfur recovery - Positive factor: Conventional processing route Evidence · table > 16.2 Context: 91.3 #### 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 **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-metallurgical-facts-67) Mumbezhi Copper Project · copper #### Identity - Project: Mumbezhi Copper Project - Commodity: copper - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: flotation - Sample: Kabikupa low-grade fresh composite - Grind P80: 250 µm #### Recovery - Recovery: 94.3 % - Conc. Grade: 25 - Conc. Grade Unit: % #### Reagents - Reagent Notes: Rougher flotation time of 12 minutes using a xanthate collector at pH 9. Regrind of rougher concentrate to a P80 of 75μm prior to cleaning. One stage of cleaning at pH 10.5. #### Lab - Laboratory: Core Metallurgy Pty Ltd #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Excellent copper recovery and high concentrate grade achieved from Kabikupa low-grade fresh composite using conventional flotation, with a coarse primary grind size. - Positive factor: High copper recovery - Positive factor: High concentrate grade - Positive factor: Conventional processing route - Positive factor: Coarse primary grind size Evidence · table > 25.0 Context: 94.3 #### 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 **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: 94.3% is at or above the exceptional band \(92%\) **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-metallurgical-facts-68) Mumbezhi Copper Project · cobalt #### Identity - Project: Mumbezhi Copper Project - Commodity: cobalt - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: flotation - Sample: Kabikupa low-grade fresh composite - Grind P80: 250 µm #### Recovery - Recovery: 7.6 % - Conc. Grade: 0.04 - Conc. Grade Unit: % #### Reagents - Reagent Notes: Rougher flotation time of 12 minutes using a xanthate collector at pH 9. Regrind of rougher concentrate to a P80 of 75μm prior to cleaning. One stage of cleaning at pH 10.5. #### Lab - Laboratory: Core Metallurgy Pty Ltd #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: Low cobalt recovery but presence in concentrate adds to multi-commodity potential, achieved with conventional flotation. - Positive factor: Cobalt present in concentrate - Positive factor: Conventional processing route - Negative factor: Low cobalt recovery Evidence · table > 0.04 Context: 7.6 #### 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 **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/psc-annual-report-to-shareholders--263bdcd0-b90e-40ca-a1f0-018e6a17f5bc#fact-metallurgical-facts-69) Mumbezhi Copper Project · sulfur #### Identity - Project: Mumbezhi Copper Project - Commodity: sulfur - Region: zambia - Reported Region: Zambia - Ticker: PSC #### Test Work - Program Status: detailed - Test Type: flotation - Processing Route: flotation - Sample: Kabikupa low-grade fresh composite - Grind P80: 250 µm #### Recovery - Recovery: 86.2 % - Conc. Grade: 20.5 - Conc. Grade Unit: % #### Reagents - Reagent Notes: Rougher flotation time of 12 minutes using a xanthate collector at pH 9. Regrind of rougher concentrate to a P80 of 75μm prior to cleaning. One stage of cleaning at pH 10.5. #### Lab - Laboratory: Core Metallurgy Pty Ltd #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-24T00:00:00.000Z Reasoning: High sulfur recovery into concentrate using conventional flotation, indicating efficient sulfide mineral separation. - Positive factor: High sulfur recovery - Positive factor: Conventional processing route Evidence · table > 20.5 Context: 86.2 #### 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 **Byproduct Commodity** Polarity: neutral Definition: The tested commodity is a byproduct rather than the primary economic driver. Why it applies: the release describes a byproduct credit ## 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.