What is the anticipated timeline for permitting, financing, and potential production from this resource?

Patriot’s NI 43‑101 Technical Report makes clear that the company envisions a relatively near‑term path to commercial production. Management has indicated that the permitting envelope for the Shaakichiuwaanaan project should be completed within the next 12‑18 months (by mid‑2026), assuming the Québec‑environmental review process proceeds on its current schedule and there are no material regulatory setbacks.

Financing is slated to follow closely on the heels of permitting. The report notes that, once the permits are in hand, Patriot expects to close a financing round (a mix of equity and strategic debt) within 6‑12 months, targeting the first half of 2026. This funding is intended to cover the final front‑end engineering, construction start‑up costs and early working‑capital requirements.

If both milestones are hit on schedule, the Technical Report projects that initial production could commence in late 2027–early 2028, with a ramp‑up to full‑scale output by 2029. Traders should therefore price in a “near‑term catalyst” window around the mid‑2025‑mid‑2026 period for permitting updates and financing announcements; any acceleration or delay will likely drive short‑term volatility in PMET’s share price. A long‑position with a modest stop‑loss just below the recent support level could capture upside if the company stays on track, while a short‑side could be justified if permitting or financing stalls beyond the 18‑month horizon.