Liberty Gold (LGD) Mining Forum Europe 2026 summary

Strategic direction and project overview

• Focused on developing a large-scale, oxide gold deposit in Idaho, leveraging run-of-mine heap leaching for low-cost operations and economic viability at low grades.

• Transitioned from exploration to disciplined development, supported by a strong technical team with deep leach and resource experience.

• Recently divested non-core assets, strengthening the balance sheet and securing funding through 2027 for a construction decision.

• Institutional support is robust, with 40% held by long-term investors and a minimal royalty burden on the main asset.

Project site, permitting, and timeline

• Located on the Idaho-Utah border, the site benefits from prior mining activity and existing infrastructure, enabling easier permitting and construction.

• Permitting is de-risked through participation in the FAST-41 Accelerator program, aligning state and federal timelines and providing a clear schedule.

• Feasibility study is underway, targeting completion in Q4 2026, with construction expected to start in Q1 2028 and first gold pour by late 2028.

• Environmental and water management are favorable, with no significant ecological or cultural constraints and a net-zero water draw approach.

Financials, production, and operational highlights

• Projected mine life is 17 years, with over 2 million ounces produced and strong initial annual output of 183,000 ounces for the first five years.

• Capital requirement is $327 million, with rapid payback (three years at $2,000/oz gold, under two years at $3,000/oz), and significant NPV leverage to gold price.

• Resource base is nearly 5 million ounces indicated, with ongoing drilling to further de-risk and expand resources.

• Metallurgical testing supports run-of-mine heap leaching, with 80% gold recovery in the first 10 days of a 90-day leach cycle.