Halo Minerals Outlines Improved Economics for Playa Verde Copper Tailings Project as Ore Reserves Grow

04:26 AM EDT, 10/16/2026 (MT Newswires) -- Halo Minerals (HALO.L) said the after-tax net present value, discounted at 10%, for its Playa Verde copper tailings project in Chile grew to $174.3 million and the internal rate of return to 45.6% after an ore reserves update. The improved economics followed an updated competent person's report, which increased Playa Verde's ore reserves by 5.4% to 33.94 million tonnes at 0.25% copper containing 83,626 tonnes of in-situ fine copper, according to a Friday filing. The ore reserve base case also resulted in an average annual project-level free cash flow of $56 million. The project's total mineral resources stand at 53.44 million tonnes at 0.24% copper, including ore reserves, containing 127,911 tonnes of in-situ fine copper. A separate full-resource management case based on the full resource outlined an after-tax NPV, discounted at 10%, of $267.5 million and a 48% internal rate of return. Halo said it is now working on the remaining optimization, commercial, and financing work needed to progress the project for a final investment decision.