Argentina
Cerro Vanguardia
165,000 oz
The supplied regional summary states production only. Ownership, operator status, cost, reserve and mine-life information remain unpublished here.
2025 annual report
Operational review · Company-provided
Americas regional operating review
The company-provided production figures for Argentina and Brazil, presented with clear limits on ownership and attribution.
Review context
What the supplied report states
The supplied report assigns 20% of group output to the Americas and lists three operations with individual production figures.
The displayed figures total 458,000 ounces. No ownership percentages, attributable-production basis or individual all-in sustaining costs are supplied in the regional summary, so the total is descriptive rather than independently reconcilable.
Stated regional share
20%
Share of group output, company-provided
Listed operations
3
Argentina and Brazil
Displayed output
458,000 oz
Simple sum of supplied site figures
Detailed record
Figures, basis and reporting limits
Brazil
AGA Mineração
195,000 oz
The largest of the three Americas figures shown. The report summary does not provide the reporting basis or a site-level cost measure.
Brazil
Serra Grande
98,000 oz
Presented as a regional contributor without a stated ownership percentage, cost, reserve or reconciliation to attributable output.
Interpretation
What the figures establish
The supplied numbers describe the scale and geographic distribution claimed for the region. They do not, on their own, establish ownership, economic entitlement or the cash contribution of any operation.
Those conclusions require technical reports, ownership records and financial notes that identify a consistent reporting basis.
Disclosure status
Records required for independent reliance
These supporting items are not contained in the published summary. The figures remain company-provided until the relevant records are supplied.
- Ownership and operator status for each operationPending
- Production basis and reporting periodPending
- Site-level cost and sustaining-capital dataPending
- Mineral rights, Resources and ReservesPending
This review explains the figures supplied by Mugodhi Mining and Securities Ltd. It is not an audit, technical report, investment recommendation or independent verification.