Adyton Resources (TSXV:ADY) recently featured in a new Crux Investor interview with our Managing Director, Tim Crossley, where he outlined how the Company is executing a differentiated strategy in Papua New Guinea that combines near-term production with significant exploration upside. In the conversation, Tim discussed how Adyton has deliberately structured its portfolio to progress development and discovery in parallel, without forcing a trade-off between the two. With more than a decade of PNG-specific operating experience and a background that includes senior roles at BHP and the Roy Hill project, Tim shared why we believe this two-track model positions Adyton to transition from explorer to producer while maintaining substantial long-term growth optionality.
The near-term production pathway centres on Fergusson Island, where Adyton has established an asset-level joint venture with East Vision Investment Holdings, a Singaporean-Chinese group with recent PNG delivery experience, including a 50-megawatt hydropower project. Under this structure, East Vision funds development through to production and earns into 50 percent ownership by meeting milestones, preserving Adyton’s corporate balance sheet for exploration. As discussed in the interview, the initial focus is the Wapolu project, a former producing mine with existing infrastructure such as tailings impoundments, an airstrip, and wharf facilities, which shortens the path to restart. Production is currently targeted for October 2026 at approximately 15,000 ounces per year, with the higher-grade Gameta project planned to follow 12 to 15 months later. Together, these assets are expected to lift total production to over 80,000 ounces per year. Importantly, Tim emphasised that this pathway is designed not just to establish cash flow, but to do so without further dilution, creating the potential to internally fund future growth.
At the same time, Adyton is advancing its flagship Feni Island project, located in what Tim describes as a 120-million-ounce discovery belt between Lihir and Bougainville. Following our CAD$20 million capital raise in August 2025, the Company has deployed more than 8,000 metres of drilling since March, testing targets across a whole-of-island land package. Tim also highlighted the operational advantages of island-based exploration in PNG, including barge mobilisation that eliminates helicopter costs and ocean transit that avoids customary landowner consents, simplifying logistics and social licence compared to mainland operations. A mineral resource estimate update is planned for late 2026, with the longer-term objective of proving a 5+ million ounce gold resource with copper credits. For investors seeking a deeper understanding of how Adyton is positioning itself for 2026 and beyond, including our approach to capital allocation, joint venture governance, and exploration priorities, we encourage you to watch the full Crux Investor interview below.