Climate Change Data

Environmental Metrics

ESG Focus Areas

• Health, safety, security, sustainability, and environment
• Respect for human rights and social and cultural rights
• Local community promotion through procurement and employment

Environmental Achievements

• Minimized surface impact of the Salave project with an optimized zero-discharge process (PEA)

Social Achievements

• Progress in assessing water management of terrestrial and marine domains for the Salave project
• Progressing negotiations with local authority and Spanish Government for Salave project approvals

Governance Achievements

• Finalized ASX compliant 2018 and 2019 annual reports
• Established a corporate governance manual based on ASX Corporate Governance Council guidelines

Climate Goals & Targets

Environmental Challenges

• Construction permitting issues for the Salave project
• Resolving adversarial legal proceedings related to water issues at Salave
• In-country risks in Spain (governmental, political, economic uncertainties)
• Future funding needs for exploration and development
• Operational risks (geological conditions, weather, technical difficulties, accidents)
• Environmental risks (compliance with environmental laws)
• Commodity and currency exchange price fluctuations

Mitigation Strategies

• Renegotiated RMB debt, reducing cost from US$10 million to US$3 million
• Successfully concluded all adversarial legal proceedings
• Actively targeting additional financing through alliances and business transactions
• Implementing processes to monitor and mitigate risks
• Intending to conduct activities in an environmentally responsible manner

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: JORC Code, NI 43-101

Environmental Metrics

ESG Focus Areas

• Environmental Impact Assessment

Environmental Achievements

• Initiated Environmental Impact Assessment (EIA) process for the Salave gold project.

Social Achievements

• Not disclosed

Governance Achievements

• Appointed Gabriel Chiappini as Joint Company Secretary; realigned executive and management roles to improve efficiency.

Climate Goals & Targets

Environmental Challenges

• Not disclosed

Mitigation Strategies

• Not disclosed

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: Null

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed

Environmental Metrics

ESG Focus Areas

• Health, safety, security, sustainability, and environment
• Respect for human rights and social and cultural rights
• Community relations

Environmental Achievements

• Submitted Environmental Impact Assessment (EIA) to the Asturian Ministry of Mines in July 2021.

Social Achievements

• Working closely with the Government of the Principality of Asturias to manage and work through the public consultation period for the Salave Gold Project EIA.
• Commitment to promoting local communities through procurement and employment practices.

Governance Achievements

• Adopted a corporate governance manual based on ASX Corporate Governance Council’s Principles and Recommendations.

Climate Goals & Targets

Environmental Challenges

• Prolonged permitting program for the Salave Gold Project.
• Challenges posed by the COVID-19 pandemic.
• Potential future funding needs.
• In-country risks in Spain (governmental, political, economic uncertainties).
• Operational risks (geological conditions, weather, technical difficulties, accidents).
• Environmental risks (compliance with environmental laws, potential accidents).
• Commodity and currency exchange price risks.

Mitigation Strategies

• Respectful and patient collaboration with the Government of the Principality of Asturias and Spanish Government to finalize remaining approvals for the Salave Gold Project.
• Actively targeting sources of additional financing.
• Intention to conduct activities in an environmentally responsible manner and in compliance with all applicable laws.
• Regular reviews and audits of internal processes and external consultants.

Supply Chain Management

Responsible Procurement

• Promoting local communities through procurement practices.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: JORC Code, NI43-101

Environmental Metrics

ESG Focus Areas

• Environmental Impact Assessment
• Community Relations
• Responsible Mining Practices

Environmental Achievements

• Submission of EIA outlining negligible environmental risks and a low-footprint underground mining operation without cyanide.

Social Achievements

• Collaborative work with the local community of Tapia de Casariego and the Government of the Principality of Asturias throughout the EIA consultation process.
• Projected creation of 150-200 direct jobs and 1000-1500 indirect jobs.

Governance Achievements

• Adherence to a strong environmental and socially responsible corporate code.

Climate Goals & Targets

Environmental Challenges

• Addressing public comments and concerns raised during the EIA public consultation period.

Mitigation Strategies

• Preparing a detailed response to the EIA consultative dossier for submission to the Government of the Principality of Asturias.
• Continued consultation with stakeholders to address concerns and inform them of potential impacts and management plans.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: International best practice for environmental benchmarking and responsible investment