Emerita Resources Corp. (TSX-V: EMO) released a corporate update on January 12, 2026, marking its transition from exploration to mine development. The Company is well-capitalized following a $26M equity financing and a $50M loan. The Prefeasibility Study (PFS) for its flagship IBW project is scheduled for completion by the end of Q2 2026, with an updated MRE expected in the coming months. Metallurgical tests show gold recoveries over 80% and favorable characteristics for Cu, Zn, and Pb concentrates. The public comment period for the AAU environmental permit is expected to begin in Q1 2026. Additionally, Emerita plans to drill the San Antonio and Nuevo Tintillo projects in 2026, while the legal dispute over the Aznalcόllar project is expected to be resolved by the Administrative Court in the coming months.