New Zealand’s Preliminary Vote Count Indicates the Continuation of a Pro Mining Government

News Provided by Canada News Group on behalf of RUA GOLD Inc.

VANCOUVER, British Columbia, Nov. 10, 2026 (GLOBE NEWSWIRE) -- Canada News Group News Commentary - New Zealand voted on Saturday, November 7, and the count is not finished. In the Electoral Commission’s preliminary results, the three parties of the current governing coalition, National, ACT and New Zealand First, are projected to hold a combined 67 of 131 seats. The Commission says the preliminary results are indicative only and will change after special votes, estimated at approximately 399,365, have been checked and counted, with official results due Friday, November 27. RUA GOLD Inc., which is working through New Zealand’s Fast-track Approvals Act, addressed the preliminary result in a letter to shareholders. Companies mentioned in today’s commentary include: RUA GOLD Inc. (TSX: RUA) (NZX: RGI) (OTC: NZAUF), OceanaGold Corporation (NYSE: OGC), Fortuna Mining Corp. (NYSE: FSM), Eldorado Gold Corporation (NYSE: EGO), Royal Gold, Inc. (Nasdaq: RGLD).

A Streamlined Permitting Track

Under New Zealand’s Fast-track Approvals Act 2024, a project that is listed in the Act or referred into the process can make a substantive application, which is checked for completeness and scope before an expert panel decides whether to grant or decline approvals. Two gold projects on New Zealand’s South Island show how it is being used. RUA GOLD announced on November 5 that it had submitted its substantive application for the Auld Creek gold-antimony project near Reefton, and OceanaGold lodged its Fast-track application for the Macraes Phase 4 project in Otago on September 9.

An Explorer in Transition Waits on Two Counts

RUA GOLD Inc. (TSX: RUA) (NZX: RGI) (OTC: NZAUF) announced on November 5 that it had submitted its substantive application under the Fast-track Approvals Act for the Auld Creek project in the Reefton Goldfield, a step the company calls a key milestone in its transition from explorer to mine developer. The application will now be subject to statutory reviews for completeness before an expert panel is formed for a full assessment, should it meet the requirements of the completeness test. The company continues to target receipt of the key project approvals by mid-2027, subject to acceptance of the application, regulatory review and a favorable decision, and it notes that submission does not constitute approval of the project.

In a letter to shareholders after the vote, CEO Robert Eckford said the company’s assessment is that a return of the current coalition would offer continuity in the policy framework under which it is advancing Auld Creek. He also noted that the result remains provisional and that, given the narrow margin, it is too early to confirm the composition of the next government. According to the letter, the company believes the project’s potential to create skilled employment, support the West Coast economy and contribute to gold and antimony supply provides a compelling basis for engagement with any incoming government.

“Submitting our Substantive Application is a major step toward bringing gold and antimony production back to Reefton. Auld Creek has the potential to anchor a wider operation in the Reefton Goldfield, creating skilled employment and opportunities for local businesses while helping address the global antimony supply deficit,” said Eckford in the November 5 release.

Permitting and technical studies are progressing in parallel, with the Preliminary Feasibility Study targeted for completion in Q4 2026. On the North Island, RUA GOLD has received approval for nine drill pads at its Glamorgan epithermal gold project in the Hauraki Goldfield, allowing it to test the three most compelling drill targets with an initial program of approximately 9,000 metres. The company said drilling is expected to commence in Q4 2026.

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Gold Producers Reporting Permits and Progress

OceanaGold Corporation (NYSE: OGC), which operates the Macraes and Waihi mines in New Zealand, reported third quarter 2026 results on November 4. The company said it lodged the permit application for the Macraes Phase 4 Project to extend the mine life at Macraes to the late 2030s, with recent drilling supporting the potential to extend mine life into the 2040s, and produced 133,400 ounces of gold and 3,400 tonnes of copper in the quarter.

“During the quarter, we submitted the MP4 application to extend operations at Macraes into the late 2030s, continued to advance the Waihi North Project and Palomino Underground Project, and delivered exceptional high-grade drill results from Wharekirauponga, which demonstrates the significant value creation from our investment in exploration,” said Gerard Bond, President and CEO of OceanaGold.

Fortuna Mining Corp. (NYSE: FSM) said it received the Notice of Admissibility for its Diamba Sud Exploitation Permit application from Senegal’s Ministry of Mines and Geology on November 2, 2026. The company now expects the government’s internal approval process for the final Exploitation Permit to be completed during the fourth quarter of 2026.

“Following our July final investment decision on the 30% plant expansion at our flagship Séguéla mine, and with Diamba Sud advancing through the final stages of permitting, we are progressing along a clear growth path,” said Jorge A. Ganoza, CEO and Director of Fortuna.

Eldorado Gold Corporation (NYSE: EGO) reported third quarter 2026 gold production of 106,351 ounces on October 28, as its Skouries project in Greece produced first copper-gold concentrate and McIlvenna Bay continued to ramp up. The company said the ramp-up at Skouries has taken longer and cost more than it expected.

“The third quarter marked an important step forward for Eldorado. Skouries produced first copper-gold concentrate and McIlvenna Bay continued to ramp up following first copper and zinc concentrate,” said Christian Milau, President and Chief Executive Officer.

Royal Gold, Inc. (Nasdaq: RGLD) reported third quarter 2026 results on November 4, including record operating cash flow of $344.4 million, compared to $174.0 million in the prior year period, and revenue of $464.8 million, compared to $252.1 million.

“Strong third quarter results extended the positive momentum from the first half of the year,” said Bill Heissenbuttel, President and CEO of Royal Gold.

Track the Signals Before the Crowd

Permit filings, election counts and quarterly reports can all shift the conversation around mining names. Eagle Eye is a real-time investor signal-intelligence platform that surfaces sentiment shifts, news flow and trending tickers as they form.

Article Source: RUA GOLD Inc. letter to shareholders from CEO Robert Eckford (November 2026) and the Company’s news releases dated August 4, 2026 and November 5, 2026; Electoral Commission (New Zealand), 2026 General Election preliminary results, November 7, 2026.

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Cautionary Note Regarding Permitting, Elections and Mineral Projects. Submission of a substantive application under New Zealand’s Fast-track Approvals Act does not constitute approval of the Auld Creek project, and there is no assurance that the application will be accepted as complete, that an expert panel will approve the project, or that approvals will be received on the Company’s targeted timeline. New Zealand’s 2026 general election results referenced in this article are preliminary and indicative only, will change after special votes are counted, and the composition of the next government has not been determined. Views on the potential policy implications of the election are those of RUA GOLD Inc. and are not statements of fact by the publisher, and nothing in this article implies an endorsement by any political party, government agency or official. The Preliminary Feasibility Study has not been completed, and the Company has not announced the commencement of planned drilling at the Glamorgan project. References to OceanaGold Corporation, Fortuna Mining Corp., Eldorado Gold Corporation and Royal Gold, Inc. are provided solely as market and sector context; those companies are not peers or financial comparables of RUA GOLD Inc., none of them was involved in the preparation of this article, and their results are not indicative of RUA GOLD’s prospects. Readers should review RUA GOLD’s continuous disclosure documents on SEDAR+ at www.sedarplus.ca.

SOURCE Canada News Group