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    Alex Terentiew

    Managing Director and Senior Mining Analyst at National Bank Financial

    Alex Terentiew is a Managing Director and Senior Mining Analyst at National Bank Financial, specializing in equity research for the metals and mining sector with a focus on precious metals companies. He actively covers companies such as K92 Mining, Coeur Mining, and Hecla Mining, consistently publishing target price changes and research updates, including recent performance metrics like price target upgrades based on strong operational and financial results. Beginning his equity research career at Raymond James Ltd. in 2011, Terentiew later joined National Bank Financial, where he has remained a prominent analyst; he is known for his detailed sector insights and industry recognition among institutional investors. He holds relevant Canadian securities industry qualifications, including registration with regulatory bodies and past coverage as a named research analyst on major North American mining equities.

    Alex Terentiew's questions to ENDEAVOUR SILVER (EXK) leadership

    Alex Terentiew's questions to ENDEAVOUR SILVER (EXK) leadership • Q2 2025

    Question

    Alex Terentiew sought clarification on the capital spending plan for the Culpa mine expansion, asking if the $13 million in guided expansion capital for the current year represents the total cost or if more spending will be required in 2026.

    Answer

    CEO Dan Dickson clarified that the $13 million in expansion capital, combined with elements of the $18 million sustaining capital budget, covers the major items needed to reach 2,500 tpd. COO Donald Gray added that while budgeting for next year is ongoing, the current focus is on completing this year's capital push. Management also noted some tailings facility work was brought forward into the current year's plan.

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    Alex Terentiew's questions to Coeur Mining (CDE) leadership

    Alex Terentiew's questions to Coeur Mining (CDE) leadership • Q2 2025

    Question

    Alex Terentiew of National Bank Financial asked about the company's strategy for its share repurchase program and inquired about the potential constraints and opportunities for production growth at the Las Chispas mine.

    Answer

    President & CEO Mitchell Krebs affirmed the company's intent to fully utilize the buyback program, employing both discretionary purchases and a 10b5-1 plan. Regarding Las Chispas, Krebs, SVP - Exploration Aoife McGrath, and COO Michael Routledge explained the current focus is on near-mine exploration to maintain its mine life, adding that the processing plant has ample capacity for future upside.

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    Alex Terentiew's questions to HECLA MINING CO/DE/ (HL) leadership

    Alex Terentiew's questions to HECLA MINING CO/DE/ (HL) leadership • Q2 2025

    Question

    Alex Terentiew from National Bank Financial sought clarification on the Keno Hill financial model, asking if it assumed a gradual ramp-up. He also inquired about major capital spending needed to reach the 440 tpd rate, permitting risks for tailings capacity post-2028, and the potential to extend Casa Berardi's mine life given high gold prices.

    Answer

    SVP & CFO Russell Lawlar confirmed the Keno Hill model assumes a gradual ramp-up. SVP & COO Carlos Aguiar detailed upcoming investments in power distribution and infrastructure. VP of Technical Services Matt Blattman noted the tailings permit process is underway and underground backfill provides flexibility. President & CEO Rob Krcmarov stated Casa Berardi's underground life is extended to year-end and will be re-evaluated, while deferring guidance updates pending the strategic review.

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