Hemlo Mining Corp.

Notable vs. Peers

• Financials score of 4.4/10 is weaker than the peer average of 6.4/10.
• Trading within 7% of its 52-week high — strong recent price momentum.

Lifecycle Milestones

1. Permit granted

   Reached — date not disclosed · Wikipedia's Golden Giant Mine article states "Noranda permitted and built the Golden Giant mine in less than two years" (within the Apr1983-Apr1985 construction window) -- confirms a permit/mining-lease was obtained, no specific date found. Given the ~7,000 claims staked in the 1982 staking rush and construction starting April 1983, the permit was most likely obtained late 1982/very early 1983 -- inference, not a sourced date. No Ontario MNR lease-grant record with a specific date found despite multiple targeted searches. · Source
2. Construction decision (FID)

   Reached — date not disclosed · Noranda Mines Ltd. optioned the Goliath Gold Mines/Golden Sceptre Resources claims in 1982 (shortly after their mid-1982 drilling discovery of the Golden Giant deposit), agreeing to provide $290M to finance all capex, construct the mine, and complete exploration, for a 50% interest -- directly preceded site clearing beginning April 1983 (see this miner's CONSTRUCTION_START row, corrected by this same research pass). CAVEAT: Ontario government Mineral Inventory Record (geologyontario.mndm.gov.on.ca, MDI42C12NW00003, directly fetched) lists "1980: Noranda options claims" -- 2 years earlier, an unresolved discrepancy (possibly a separate/earlier preliminary option on different ground). Reporting 1982 as better-corroborated (4 consistent sources: fundinguniverse.com, referenceforbusiness.com, Wikipedia, encyclopedia.com vs. 1 outlier), flagging the conflict rather than silently picking one. · Source
3. Construction start

   Reached — date not disclosed · Site clearing and building of the Golden Giant Mine (the first Hemlo-camp mine to reach production) began April 1983; shaft-sinking work (four-compartment shaft to 3,800ft) began November 1983. CORRECTED (Task #612, 2026-08-25): Golden Giant was built by Noranda Mines Ltd. (financier, 50% interest) together with claim holders Goliath Gold Mines Ltd. and Golden Sceptre Resources -- NOT Teck-Corona, as this note previously stated. Teck/Corona instead built the adjacent-but-distinct David Bell Mine and, after winning the Lac Minerals v. International Corona Resources litigation, the Williams Mine -- same Hemlo camp, different properties. Correction supported by 5 independently-sourced, mutually consistent accounts (Wikipedia, FundingUniverse, referenceforbusiness.com, Ontario government Mineral Inventory record MDI42C12NW00003, encyclopedia.com); the dates already on file here (site clearing April 1983) match Golden Giant/Noranda-Goliath-Golden Sceptre's documented history precisely, not Teck-Corona's. Decades before Barrick or HMMC ever held the asset. Exact day not confirmed from available sourcing -- recorded reached-but-undated. · Source
4. First pour / production

   Reached — date not disclosed · The Hemlo camp's Golden Giant Mine (NOT "Williams Mine" as this note previously stated -- see CONSTRUCTION_START correction) has produced continuously since 1985 (~25M oz across the Hemlo camp's three mines -- David Bell, Williams, Golden Giant -- to date) per the company's own materials. CORRECTED (Task #612, 2026-08-25): Golden Giant was built by Noranda Mines Ltd. together with claim holders Goliath Gold Mines Ltd. and Golden Sceptre Resources, not Teck-Corona (which built the separate Williams Mine, completed later, after the Lac Minerals v. International Corona Resources litigation). Correction supported by 5 independently-sourced, mutually consistent accounts (Wikipedia, FundingUniverse, referenceforbusiness.com, Ontario government Mineral Inventory record MDI42C12NW00003, encyclopedia.com). Hemlo Mining Corp only acquired the complex (David Bell, Williams, Golden Giant) from Barrick on Nov 26, 2025 -- it did not itself build any of the three mines, so no primary source with an exact original pour date is being cited here. · Source
5. Commercial production

   Reached — date not disclosed · Genuinely reached, but no single company-wide commercial-production date exists: Hemlo Mining Corp. (formerly Carcetti Capital Corp.) acquired the Hemlo gold complex (35km east of Marathon, Ontario -- David Bell, Williams, and Golden Giant underground/open-pit operations) from Barrick Mining Corp. on 2025-11-26, but the mine itself has produced continuously since 1985 (~25 million oz to date) under a long succession of prior owners (Teck-Corona, Noranda, Barrick and predecessors), decades before this company's ownership began. Because Hemlo's production history long predates Hemlo Mining Corp.'s 2025-11-26 acquisition, no single company-era date is unambiguous, matching the Genesis Minerals/Gwalia and Greatland/Telfer precedent (acquirer of a long-producing legacy mine). This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. · Source

Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.

A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.