Rio2 Launches 33,870-Metre Condestable Drilling, Suspends Fenix Gold Work

Aris Mining has completed the Environmental and Social Impact Assessment for its Soto Norte gold-copper project in Santander, Colombia, and in 2026 began formal community engagement across three municipalities ahead of submitting the ESIA and environmental license application. The company said Soto Norte lies outside the Santurbán Páramo and its buffer zone, and it aligned the ESIA and consultation process with Colombia's regulatory framework and the Escazú Agreement. The milestone follows the ANM's July 29, 2026 approval of the modified technical mine plan for Soto Norte, which confirmed regulators have reviewed the project's geology, reserves and mine design but does not replace the need for an environmental license before construction or mining can begin. Aris Mining's narrative projects $2.2 billion revenue and $688.8 million earnings by 2029, requiring 19.9% yearly revenue growth and a $404.1 million earnings increase from $284.7 million today, with a CA$41.53 fair value implying 66% upside. Some of the lowest estimate analysts had assumed about US$2.0 billion of revenue and US$797.7 million of earnings by 2029 while still citing Soto Norte's lengthy permitting and heavy ESG commitments as reasons for caution.

Purecore Metals Inc. intends to complete a non-brokered private placement for aggregate gross proceeds of up to C$2,500,000, the company announced on October 2, 2026. The offering will combine hard dollar units priced at C$1.35 each and flow-through units priced at C$1.50 each, with each unit consisting of one common share and one warrant. Each warrant entitles the holder to acquire one warrant share at C$2.00 for 36 months from the applicable closing date, subject to acceleration if the closing price on the Canadian Securities Exchange equals or exceeds C$2.50 for ten consecutive trading days. Net proceeds from the hard dollar units are expected to fund mineral exploration, property expenditures and acquisitions, and general corporate and working capital purposes, while gross proceeds allocated to the flow-through shares will be used to incur eligible Canadian exploration expenses that the company intends to renounce to subscribers with an effective date no later than December 31, 2026. Completion remains subject to customary closing conditions and regulatory approvals, and all securities issued will be subject to a four-month hold period.