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SAGA’s Future Milestone Payments for Tanbreez Like Project

After today’s move in Critical Metals (CRML) we are most likely going to make Saga Metals (TSXV: SAGA) our new #1 favorite overall stock suggestion for 2026.

CRML’s Tanbreez has total resources of approximately 170,000 metric tons of TREO with HREO Contribution of 27%. CRML’s Tanbreez has an after-tax Net Present Value (NPV) of approximately US$2.1 billion (if you trust their numbers).

Almost all of SAGA’s payments for their newly acquired Heavy Rare Earth Element project will be in future milestone payments.

Milestone Payments

In addition to the Initial Consideration, SAGA will make the following payments upon achieving the following milestones:

Milestone Trigger Shares Cash
First NI 43-101 inferred resource ≥ 370,000 t TREO (27% HREO) 5,000,000 $1,000,000
Second NI 43-101 indicated resource ≥ 700,000 t TREO (27% HREO) 7,000,000 $1,000,000
Third PEA with post-tax NPV ≥ $2.5 billion $5M value $1,000,000
Fourth Pre-feasibility: NPV ≥ $2.5B & IRR ≥ 30% $5M value $1,000,000
Fifth Feasibility study: NPV ≥ $2.5B & IRR ≥ 30% $5M value $1,000,000

The price per Saga Share used to calculate shares issuable in connection with the Third, Fourth and Fifth Milestones will be the greater of (i) $0.50 and (ii) the “Discounted Market Price” of the Saga Shares as defined in TSX Venture Exchange Policy 1.1 on the date of the public announcement of the completion of each such Milestone.

Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA has received compensation from SAGA of US$100,000 cash for a twelve-month marketing contract. This message is for informational and educational purposes only and does not provide investment advice.

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