Resolves YES if Ivanhoe Mines has officially confirmed that the Project 95 concentrator upgrades at Kamoa-Kakula are complete and circuits are operating at or near the target 95% copper recovery rate, as stated in a press release, quarterly report, or investor communication before December 31, 2026. Resolves NO otherwise.

Context: Project 95 upgrades the Phase 1 and Phase 2 concentrators from 87% to 95% copper recovery — an 8-point improvement translating to roughly 33,000 additional tonnes of copper per year. As of early April 2026, the project was approximately 75% complete. Commissioning may occur in stages.