PPTA — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-14

• ●On May 21, 2026, the board of the U.S. EXIM unanimously approved a $2.9 billion senior secured long-term loan under the Make More in America Initiative to support the development of the Project.

• ●On May 29, 2026, the United States District Court of Idaho denied a motion for a preliminary injunction filed by the plaintiffs in a related lawsuit filed in 2025 by special interest groups challenging, among other things, the USFS Record of Decision approving the Project. In the decision, the Dist…

• ●On May 30, 2026, the Company commenced additional critical path construction activities for the 2026 field season, including initial work associated with the Burntlog Route, a key infrastructure project designed to support safe and efficient access to the Project site while minimizing impacts to ne…

• ●Published 2025 Sustainability Report, the Company’s thirteenth annual sustainability report.

• ●On July 7, 2026, an Idaho state district court upheld the air permit to construct for the Project that was the subject of a judicial appeal filed by certain petitioners that had contested the permit in state administrative proceedings. The state court rejected all claims by the petitioners challeng…

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• ●Continue to expand the management team and workforce to support full-scale construction, detailed engineering and operations;

• ●Posting of Congressional notice by U.S. EXIM Board for an approximately $2.7 billion proposed senior secured loan for the Project, expiration of the notification period, and anticipation of a final vote on the loan by the board of U.S. EXIM in the second quarter of 2026.

• ●Publication of an updated technical report summary (“TRS”) in March 2026 and updated capital and operating expense estimates reflecting ongoing engineering, contracting and development through December 2025.

• ●Received the final remaining Stream Alteration Permit from IDWR in January 2026 granting the Company’s application for certain rights to be used in connection with the Project.

• ●Received the final IPDES permit for industrial wastewater discharges in January 2026 (currently subject to an automatic stay under Idaho regulations as described below in “Ancillary Permitting Update”).

Text added vs the prior filing · source: 10-Q · 2026-08-14

• To help manage a portion of our exposure to changes in gold prices, we may enter into commodity hedging arrangements from time to time, including derivative instruments linked to gold prices. These arrangements are intended to reduce the variability of cash flows associated with a portion of our for…

• As disclosed in Note 11, Subsequent Event, in July and August 2026, we purchased gold put option contracts to provide downside price protection for a portion of our forecasted gold production. Because these instruments were entered into after June 30, 2026, they were not outstanding as of the balanc…

• We operate in both the U.S. and Canada. Foreign currency exposure relates to transactions in currencies other than the functional currencies of our operations. We raise funds in U.S. dollars, incur expenditures substantially in U.S. dollars, and hold cash substantially in U.S. dollars. As of June 30…

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• We operate in both the U.S. and Canada. Foreign currency exposure relates to transactions in currencies other than the functional currencies of our operations. We raise funds in U.S. dollars, incur expenditures substantially in U.S. dollars, and hold cash substantially in U.S. dollars. As of March 3…

Text added vs the prior filing · source: 10-Q · 2026-08-14

• In April 2026, we implemented a new enterprise resource planning (“ERP”) system to upgrade certain business and financial systems. In connection with the ERP system implementation, we have updated our internal controls over financial reporting to accommodate modifications to our business processes a…

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• As of the Evaluation Date, there were no changes in our internal control over financial reporting that occurred during the quarter ended March 31, 2026 that have materially affected, or that are reasonably likely to materially affect, our internal control over financial reporting.

Text added vs the prior filing · source: 10-Q · 2026-08-14

• These two federal lawsuits challenging the USFS ROD and other approvals for the Project remain pending. The scheduling order in the Federal Environmental Case required all dispositive motions and briefs to be filed by all parties before the end of January 2026. These motions and briefs have been fil…

• On May 8, 2026, the plaintiffs in the Federal Environmental Case filed a motion for a preliminary injunction seeking to delay certain planned construction activities for the Project. The plaintiffs’ motion expressly excluded early works construction activities that were contemplated under previously…

• The Company believes that the request for a preliminary injunction in the Federal Environmental Case (and the various motions and appeal associated therewith) is without merit and intends to continue vigorously opposing them. The Company, however, cannot predict the outcome of decisions in the proce…

• their lawsuit. However, there can be no assurance that the PTC or the district court’s decision will be upheld upon further judicial review if the petitioners were to file an appeal with the Idaho Supreme Court.

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• The U.S. District Court on October 2, 2025 issued a general order staying all civil cases listed in the order due to the partial shutdown of the federal government over appropriations for the government. The list included the Federal Environmental Case and Federal NPT Case. This stay did not affect …

• The District Court has not ruled on any of the dispositive motions filed by the parties. The scheduling order in the Federal NPT requires all dispositive motions and briefs to be filed by all parties. before the end of June 2026. These two lawsuits remain pending.

• On May 8, 2026, the plaintiffs in the Federal Environmental Case filed a motion for a preliminary injunction seeking to delay certain planned construction activities for the Project. The plaintiffs’ motion expressly excluded early works construction activities that were contemplated under previously…