VGZ — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-07-29

• The Company continues to advance its Mt Todd gold project and expects to initiate detailed engineering and design in 2027. Commencement of this work is expected to mark the beginning of an approximately 27-month period encompassing detailed engineering, construction, and commissioning.

• We are actively engaged with consultants, regulators, and stakeholders to obtain permit modifications. Some modifications have already been submitted, the first authorizations already granted, and programs to support other submissions are in progress. We expect certain additional approvals to be gra…

• We have started building our executive leadership and project development teams in Australia. Our executive team will be based in Perth and the project development team will be assigned to the Northern Territory, with some roles operating on a fly-in, fly-out basis. We have increased our corporate c…

• We are completing pre-development optimizations in line with the recommendations presented in the Mt Todd FS. Metallurgical testing to optimize grind size and gold recoveries and provide data for the optimal selection and sizing of equipment for the process plant is in progress; initial results are …

• The Company is also advancing several programs in preparation for construction. The initial phase of a dewatering program is underway at the Batman pit and the tailings storage facility; additional phases are planned to begin later this year. We have also completed refinements to the site layout des…

Text removed vs the prior filing · source: 10-Q · 2026-04-30

• In January 2026, the Company announced continued progress at its Mt Todd gold project and outlined the pathway to initiate detailed engineering and design in 2027. The Company expects this milestone to initiate a period of approximately 27 months for design, construction, and commissioning.

• We have commenced efforts to obtain permit modifications and are actively engaged with consultants, regulators, and stakeholders. Some modifications have already been submitted, and programs to support other submissions are in progress. We anticipate the approval of these modifications will be achie…

• Since the start of the year, we have hired four project management team members to be based in Perth and an approvals manager based in Darwin. We have increased our corporate capacity in the areas of projects/technical services, external

• relations/social performance, legal, and administration/finance/market relations. We are currently recruiting an Australian-based managing director who will be responsible for delivering the Mt Todd project. Later this year we plan to begin building the project development team.

• We are completing pre-development optimizations in line with the recommendations presented in the Mt Todd FS. Recent drilling has provided core for selective metallurgical testing to optimize grind size and gold recoveries and provide data for the optimal selection and sizing of equipment for the pr…

Text added vs the prior filing · source: 10-Q · 2026-07-29

• Water management requirements and extreme rainfall at Mt Todd could increase project costs, delay project development, and adversely affect our business.

• Extreme weather events, including periods of above-average rainfall, may increase our development and operating costs, complicate water management activities, delay permitting or development timelines, and adversely impact our business. Mt Todd is subject to seasonal rainfall, and unusually wet cond…

• If similar or more severe weather conditions occur in the future, we may incur higher costs associated with water management and environmental compliance. Such conditions could also affect the sequencing of development plans for Mt Todd. In addition, delays in obtaining or maintaining necessary appr…