Safe-haven demand has gold prices reaching historic levels and building a base over $5000 US. Well-known established miners like Agnico Eagle Mines (NYSE: AEM) (TSX: AEM), Barrick Gold (NYSE: B) (TSX: ABX), and Newmont (NYSE: NEM) are reporting significant earnings growth and record cash flow.
US mining stocks just got another boost following news of major reforms to NEPA, which are expected to reduce bureaucratic delays, streamline environmental reviews, shorten development timelines, and potentially lower project costs.
Under the leadership of President Donald J. Trump, the Department of the Interior recently announced final sweeping reforms to its National Environmental Policy Act procedures, cutting red tape, accelerating project approvals and restoring NEPA to its intended role as a focused, efficient decision-making tool.
The reforms, led by Interior Secretary Doug Burgum and part of a whole-government approach, reaffirm the rescission of more than 80% of Interior’s prior NEPA regulations, with the majority of those regulations moved into a streamlined Departmental NEPA Handbook of Implementing Procedures.
West Point Gold Corp. (TSXV: WPG) (OTCQB: WPGCF) is unlocking America’s next district with high-grade gold exploration in the Southwestern US. The company is focused on four strategically located projects along the prolific Walker Lane Trend in Nevada and Arizona.
West Point Gold just announced results for four holes from the high-grade zone at Northeast (NE) Tyro, part of the ongoing 15,000-metre (m) drill program at its flagship Gold Chain Project in Arizona. The Company is reporting assay results for four drill holes (954m), GC25-89, GC25-90, GC26-91 and GC26-93.
“The continuity and consistent high grades at NE Tyro, along with our ability to continue expanding the zone, are positive indicators for the scale potential of this zone. Drilling continues at Gold Chain, as we are well funded to deliver on our dual exploration goals for 2026, of delivering a maiden resource for the Tyro Main Zone and making a discovery at one of the multiple step-out targets we are testing,” stated Derek Macpherson, President and CEO.
West Point Gold also announced that it has been recognized as a 2026 Top 50 Company by the TSX Venture Exchange (“TSXV”).
The TSX Venture 50™ is an annual ranking of the top performing companies from the past year on TSXV based on three equally weighted criteria: market capitalization growth, share price appreciation and trading value. The TSX Venture 50™ showcases the top 50 of the over 1,600 TSXV issuers.
“We are honoured to be recognized as a member of the 2026 TSX Venture 50™. This recognition reflects the hard work of the team and West Point Gold, which resulted in strong share price performance in 2025. Following the completion of our recent financing, we are well-funded to continue creating value for shareholders in 2026. We thank our shareholders for their ongoing support, and hope to connect with many of them at upcoming events.”
Over the past year, the Company has advanced exploration and technical programs at its flagship Gold Chain project in Arizona, and acquired the Baxter Spring property, expanding its Nevada portfolio. West Point Gold remains focused on operational discipline and building lasting shareholder value.
A major producer in the Walker Lane Trend, Kinross Gold (TSX: K) (NYSE: KGC), operates the large Round Mountain mine, one of the most productive in the US. In mid-January, they announced they are proceeding with the construction of three organic growth projects: Round Mountain Phase X and Bald Mountain Redbird 2 in Nevada, and Kettle River-Curlew in Washington. These projects are expected to meaningfully extend mine life and will benefit long-term costs within Kinross’ United States portfolio.
Overall highlights:
Continued positive exploration results and robust internal studies have demonstrated strong margins with average all-in sustaining costs² (AISC) of ~$1,650 per gold equivalent ounce (“Au eq. oz.”) at an attractive Internal Rate of Return³ (IRR) and Net Present Value⁴ (NPV) that supports proceeding to construction.
These projects are expected to contribute significantly to Kinross’ US production profile and to maintaining 2 million Au eq. oz. per year, with expected production of 400,000 Au eq. oz. per year between 2029 and 2031 and a total of 3 million Au eq. oz. between 2028 and 2038, based on the initial mine plan inventories.
Strong value proposition with a combined IRR of 55% and a combined incremental post-tax NPV4 of $4.1 billion at a gold price of $4,300.
All three assets have significant potential for mine life extensions beyond the initial mine plan inventories included in the completed project studies, potentially further enhancing returns and asset values.
Phase X and Curlew continue Kinross’ grade-enhancement strategy, adding higher-grade underground ounces, lowering long-term costs with lower capital intensity, and providing optionality for further mine-life extension beyond the initial mine-plan inventories. Redbird 2 provides a substantial mine-life extension through efficient open-pit mining at Bald Mountain, with incremental AISC2 of $1,466 per Au eq. oz.
Kinross intends to self-fund these projects from its operating cash flows and has forecasted capital expenditures of approximately $425 million in 2026 to support their development. Total attributable capital expenditures5 for the global portfolio in 2026 are expected to be $1.5 billion (+/- 5%).
As at December 31, 2025, the Company had completed its 2025 share repurchase program, achieving its increased target of $600 million in shares and reducing its share count by 2.5%. The Company will continue to prioritize its strong balance sheet, liquidity and return of capital program.
Barrick Gold ‘s (NYSE:B) (TSX: ABX) Fourmile Project, NV is considered one of the highest-grade, undeveloped projects in North America, with significant expansion potential.
Barrick recently reported fourth quarter operating and financial results for the period ending December 31, 2025. Barrick produced 871,000 ounces of gold and 62,000 tonnes of copper in the quarter and the Company generated $6.00 billion in revenue, as well as $2.73 billion in operating cash flow and $1.62 billion in free cash flow Net earnings per share for the quarter of $1.43 and adjusted net earnings per share of $1.04 increased 88% and 79%, respectively, from Q3.
For the full year 2025, Barrick reported revenues of $16.96 billion, operating cash flow of $7.69 billion and free cash flow of $3.87 billion, increasing 31%, 71% and 194%, respectively, from 2024. Net earnings per share of $2.93 and adjusted net earnings per share of $2.42 for the full year increased 140% and 92%, respectively, from 2024. Full-year gold production was 3.26 million ounces while full-year copper production was 220,000 tonnes, consistent with the guidance provided at the start of the year.
Hecla Mining’s (NYSE: HL) Hollister mine in Nevada is North America’s third highest grade gold mine.