The Baița Plai underground polymetallic mine is located in Bihor County, western Romania, a region with a long history of base and precious metals mining. The operation is held under Exclusive Exploitation Licence 999/1999, which permits the extraction of gold, silver and polymetallic minerals within the licensed perimeter and is valid until 2029. Baița Plai is a fully developed underground mine with established access, infrastructure and processing arrangements, forming a key component of the Company’s European asset base.

The deposit hosts Measured, Indicated and Inferred mineral resources of approximately 608,000 tonnes at an average grade of 2.58% copper equivalent (CuEq), reflecting its polymetallic nature and the contribution of copper, gold and silver to overall value. In addition, an exploration target – incorporating historical mineral resource estimates reported under the NAEN Russian Code – suggests broader mineralisation potential ranging between approximately 3.2 million and 5.8 million tonnes. Within this range, copper grades are interpreted to lie between 0.50% and 2.00%, gold between 0.20 and 0.80 g/t, and silver between 40 and 80 g/t.

Baita Plai was operational until June 2025. Production is currently paused while a comprehensive technical review and optimised mine plan are completed, with the objective of enhancing operational efficiency, improving mine design and supporting sustainable long-term development.