Strickland Metals (STK) Mining Forum Americas 2026 summary

Strategic developments and asset overview

• Rogozna project in Serbia holds 9.25 million ounces gold equivalent JORC resources, ranking among the largest undeveloped gold resources globally, with ongoing growth potential and line of sight to 15–20 million ounces as drilling continues.

• Zijin Mining owns 7.4%, providing strong financial support through placements and institutional backing, alongside Ibaera Capital and Jupiter Asset Management.

• The company is well-funded with nearly AUD 60 million in cash and AUD 25 million in listed stocks, fully funding pre-feasibility studies and exploration.

• Board expansion and leadership changes are positioning the company for transition from exploration to pre-development and mine development, strengthening technical, ESG, and project development capabilities.

• Local Serbian team of 60+ professionals, with 60% from local communities and >80% local procurement, is being further expanded for the next project phase.

Project progress and exploration highlights

• Gradina deposit is the focus for initial mine development, with 1.8 million ounces of inferred gold resources, high-grade mineralisation (20Mt @ 2.8g/t Au), and a scoping study underway.

• Pre-feasibility study (PFS) for Gradina is targeted for release in the second half of next year, with a scoping study expected later this year.

• Gradina and Copper Canyon together could exceed 3 million ounces in initial phase I development.

• Shanac deposit, at 5.35 million ounces, is a large, consistent skarn system with a higher-grade core (33Mt @ 1.6g/t AuEq) and significant growth potential.

• New discoveries at Red Creek and Kotlovi, along with ongoing geophysics and recent MT/IP surveys, are expanding exploration upside and generating high-priority targets.

Market and operational context

• Serbian elections led to a temporary curtailment of drilling, but activities are expected to resume after the October 25 election, with drilling likely restarting in November.

• Mining is a growing sector in Serbia, currently 2.7% of GDP, with ambitions for significant expansion and a national strategy to increase this share.

• The Tethyan Belt, where the projects are located, is a prolific and expanding mineral region with established infrastructure and a skilled local workforce.

• The company aims to de-risk and develop Gradina as a mid-cap operation, while larger deposits like Shanac may attract major partners for future block cave mining.

• Metallurgical testing at Gradina shows simple processing with over 90% recoveries and no need for cyanide.