Hemlo Mining (HMMC) Mining Forum Americas 2026 summary

Ownership and market position

• Institutional ownership stands at 75%, with management and key partners holding 10% and the remainder retail.

• Target share prices are projected between CAD 9 and CAD 12 over the next 24 months.

• Hemlo has produced over 25 million ounces of gold in its 40-year history, once accounting for 25% of Canada's gold output.

Current operations and capacity

• Current resources and reserves are approximately 5.7 million ounces, with operations at 3,800 tons per day.

• Hoisting capacity is 6,000 tons per day, mill nameplate is 10,000, and permitted mill capacity is 13,500 tons per day.

• First half-year production exceeded 60,000 ounces at an AISC of CAD 2,157.

Growth strategy and expansion plans

• Growth plan is fully funded and focuses on increasing production through phased capacity expansions.

• Phase one targets 4,800 tons per day, phase two 6,000, and final phase aims for 10,000 tons per day, potentially exceeding 250,000 ounces annually.

• Resource and reserve growth is supported by a 130,000-meter drill program, with a 34% M&I resource increase in six months.