Core Points - American Creek Resources Ltd. has successfully closed the statutory plan of arrangement with Tudor Gold Corp., making American Creek a wholly-owned subsidiary of Tudor as of September 4, 2025 [1][5]. Group 1: Transaction Details - Under the arrangement, Tudor acquired all issued and outstanding common shares of American Creek, with each shareholder receiving 0.238 of a common share of Tudor for each share held [2]. - American Creek options were replaced with replacement options exercisable for Tudor shares at the same exchange ratio, maintaining the same terms and conditions as the original options [2]. - Warrants for American Creek shares will remain outstanding and can be exercised for Tudor shares at the same exchange ratio [2]. Group 2: Delisting and Reporting - American Creek shares are expected to be delisted from the TSX Venture Exchange and OTCQB at the close of trading on September 5, 2025 [3]. - The company plans to apply to cease being a reporting issuer and terminate its public reporting obligations [3]. Group 3: Company Background - Tudor Gold Corp. is involved in precious and base metals exploration and development, with claims in British Columbia's Golden Triangle, an area known for its mining potential [6].

Core Viewpoint - Tudor Gold Corp. has successfully completed the acquisition of American Creek Resources Ltd., increasing its ownership interest in the Treaty Creek Project to 80% [1][2][3]. Transaction Details - The acquisition was executed under an arrangement agreement announced on June 26, 2025, where Tudor acquired all issued and outstanding common shares of American Creek, making it a wholly-owned subsidiary [2]. - American Creek shareholders received 0.238 of a common share of Tudor for each share held, establishing the exchange ratio [2]. - AMK options were replaced with Tudor options at the same exchange ratio, while AMK warrants will remain outstanding and can be exercised for Tudor shares at the same ratio [2]. Strategic Implications - The acquisition positions Tudor to attract a broader range of potential investors and enhances its exploration capabilities in the Treaty Creek Project, which is noted for its significant gold discovery potential [3]. - The company has settled $1,220,733 in severance payments to former insiders of AMK, issuing 2,273,244 common shares at a price of $0.537 per share [3]. Market Impact - AMK shares are expected to be delisted from the TSX Venture Exchange and OTCQB on September 5, 2025, as Tudor plans to cease American Creek's public reporting obligations [4]. Company Background - Tudor Gold Corp. is focused on precious and base metals exploration and development in British Columbia's Golden Triangle, an area known for its rich mineral deposits [7].

Summary of AssetMark Financial (AMK) Update / Briefing July 24, 2025 Company Overview - **Company**: AssetMark Financial (AMK) - **Industry**: Financial Services, specifically focused on investment management for financial advisers - **Assets Under Management**: Approximately $150 billion for clients across the country [2] Key Points and Arguments Market Performance - **Market Recovery**: Despite a market downturn in early 2025, the S&P 500 recovered and set new highs, increasing by over 25% after a nearly 20% drop [12][13] - **Retail Investment**: Retail investors contributed significantly, with $155 billion invested in the US stock market in the first half of 2025 [14] - **Corporate Buybacks**: Companies engaged in record stock buybacks, taking advantage of lower stock prices due to tariff uncertainties [15] - **International vs. US Stocks**: International markets outperformed US markets for the first time in 15 years, aided by a weakening US dollar [16] Economic Indicators - **US Dollar Weakness**: The US dollar had its worst start to a year in 2025, benefiting international investments as other currencies appreciated [16] - **Gold Performance**: Gold prices rose by 25% due to its inverse relationship with the dollar and increased demand from global central banks [17][18] - **Diversification Importance**: The first half of 2025 highlighted the need for diversification in investment portfolios [19] Economic Policies and Tariffs - **Administration Policies**: Current policies are seen as pro-growth but also pro-inflation, with a focus on tax cuts and deregulation expected to support markets [22][25] - **Tariff Impact**: The average effective tariff rate started at 2.5% in 2025, with potential increases causing market nervousness. However, a steady high tariff policy is deemed manageable for the US economy [26][29] - **Economic Growth Expectations**: The economy is expected to rebound in the second quarter of 2025, with growth projected around 2.5% [32] Inflation and Interest Rates - **Current Inflation Rate**: The latest inflation reading is at 2.7%, with tariffs contributing to rising prices in goods [44] - **Interest Rate Outlook**: If inflation rises, the Federal Reserve may delay interest rate cuts, maintaining a floor on how low rates can go [49][55] Tax Bill Implications - **Deficit Concerns**: The US deficit is projected to rise significantly due to the new tax bill, which makes 2017 tax cuts permanent and introduces temporary tax breaks [51][55] - **Market Reactions**: The tax bill reduces uncertainty around tax policy and the debt ceiling, positively impacting market sentiment [52][54] Investment Strategies - **Technology and AI**: The rapid advancement of technology, particularly AI, presents significant investment opportunities, although the top 10 tech stocks dominate the S&P 500 [73][74] - **Diversification Strategy**: Investors are encouraged to diversify within the US and consider international markets, especially given the weaker dollar [78][80] - **Gold as a Diversification Tool**: Gold is recommended for portfolio diversification, but its volatility should be considered [85] Other Important Insights - **Volatility and Market Corrections**: Historical data shows that market corrections are normal and necessary for healthy long-term growth [86] - **Consumer Spending**: The US consumer remains a key driver of the economy, with stable job markets and rising wages, albeit at a slower pace [35][39] This summary encapsulates the key insights from the AssetMark Financial briefing, highlighting the company's perspective on market trends, economic indicators, and investment strategies for the remainder of 2025.

Core Viewpoint - American Creek Resources Ltd. announces the commencement of the 2025 exploration drill program at the Treaty Creek Project, aiming to expand high-grade gold resources in the Goldstorm Deposit [1][2]. Exploration Program - Phase 1 drilling consists of seven holes totaling approximately 6,000 meters at the Goldstorm Deposit, focusing on expanding the high-grade gold Supercell-One system (SC-1) discovered in 2024 [2]. - The SC-1 system is a gold-dominant, quartz-sulphide, breccia-hosted structural corridor, with potential for further high-grade discoveries in a 600 m by 400 m area [2]. Drill Results - Notable high-grade gold intercepts from SC-1 include: - GS-23-176-W1: 15.00 m @ 15.64 grams/tonne (g/t) AuEQ [5] - GS-22-134: 25.50 m @ 9.96 g/t AuEQ, including 4.50 m @ 20.86 g/t AuEQ [5] - GS-23-179: 12.00 m @ 10.07 g/t AuEQ [5] - Additional high-grade intercepts from the 300H and 300N Domains were also reported [3]. Future Phases - Phase 2 will involve an additional 1,600 meters of drilling, contingent on Phase 1 success [8]. - Phase 3 will focus on underground exploration with two geotechnical diamond drill holes totaling approximately 500 meters [8]. Project Overview - The Treaty Creek Project hosts the Goldstorm Deposit, which has an Indicated Mineral Resource of 27.87 million ounces (Moz) of AuEQ grading 1.19 g/t AuEQ [11]. - The Goldstorm Deposit remains open in all directions, indicating the need for further exploration [12]. Joint Venture Structure - American Creek holds a 20% carried interest in the Treaty Creek Project, while Tudor Gold holds a 60% interest and acts as the operator [14]. - A recent Binding Letter of Intent indicates Tudor's intention to acquire all outstanding shares of American Creek, which would increase Tudor's interest in the project to 80% [14].

Core Insights - AssetMark, Inc. has been awarded the ThinkAdvisor 2024 Luminaries Award for Innovation in the Business Development segment for its Tax Management Services (TMS) [1][3] - The Tax Management Services aim to enhance investment outcomes for clients by effectively managing taxes, combining advanced technology with sophisticated strategies [2][5] - The award highlights the commitment of AssetMark to innovation and excellence in financial services, as recognized by a panel of independent judges [4][5] Company Overview - AssetMark operates a wealth management platform that supports over 9,000 financial advisors and more than 263,000 investor households [6] - As of September 30, 2024, AssetMark had over $127 billion in platform assets [7] - The company is focused on empowering financial advisors with flexible, purpose-built solutions to enhance client engagement and drive efficiency [5][6] Future Initiatives - Looking ahead to 2025, AssetMark plans to introduce an advanced planning offering that will provide tailored strategies for estate planning, tax efficiency, retirement planning, and multi-generational wealth transfer [4][5] - This initiative aims to deepen client relationships and offer comprehensive financial strategies that address evolving client needs [4][5]

Core Insights - AssetMark and Cheetah have successfully collaborated to provide a unified wealth management solution that enhances growth, efficiency, and profitability for financial institutions like First State Bank (FSB) [1][4] - FSB has experienced significant operational improvements since adopting the integrated solution in January 2024, positioning the bank for future expansion [2][4] Company Overview - AssetMark operates a wealth management platform aimed at helping financial advisors and their clients, serving over 9,000 financial advisors and more than 263,000 investor households, with over $127 billion in platform assets as of September 30, 2024 [7][8] - Cheetah offers a cloud-based trust management platform that modernizes the trust industry by providing innovative digital solutions for wealth managers [8] Strategic Collaboration - The partnership between AssetMark and Cheetah has allowed FSB to transition its trust services to a more integrated platform, which has been described as a "game changer" by FSB's Senior Vice President of Wealth Management & Trust [3][4] - The collaboration combines AssetMark's industry expertise with Cheetah's advanced automation, significantly strengthening FSB's competitive position in the wealth management sector [4][5] Operational Efficiency - The integration has streamlined FSB's operations by reducing manual tasks and enhancing data management, enabling the bank to focus on building stronger client relationships and driving business growth [5] - The collaboration is viewed as a cost-effective force multiplier for FSB, enhancing its competitive edge in the market [5]

Core Viewpoint - American Creek Resources Ltd. and its joint venture partner Tudor Gold have announced positive results from metallurgical testing on the Goldstorm Deposit at Treaty Creek, indicating high recoveries of copper, gold, and silver, which support the project's economic viability [1][2]. Metallurgical Testing Results - Flotation recoveries from the Lower CS-600 sub-domain reached up to 88.1% for copper, 63.8% for gold, and 51.3% for silver [2]. - A high-grade copper concentrate was produced, exceeding 29% copper with gold and silver grades of 33 g/t and 96 g/t, respectively [2][6]. - The testing program supports previously reported gold recoveries of 90% for the Lower CS-600 domain, indicating strong potential for a future Preliminary Economic Assessment (PEA) [2][4]. Project Development Insights - The CS-600L sub-domain is estimated to contain over 50% of the CS-600 Domain, and the results significantly de-risk the Goldstorm project regarding metallurgical characteristics [3][4]. - The project aims to produce at least 500,000 AuEQ ounces per year, with the lower portion of CS-600 having sufficient volume to support mining and processing of 40,000 tons per day over 17 years [5][10]. - The Goldstorm Deposit has an Indicated Mineral Resource of 27.87 million ounces of AuEQ, with a grading of 1.19 g/t AuEQ [10][11]. Future Focus and Recommendations - The engineering team recommends initial metallurgical tests on material from the newly discovered Supercell-1 (SC-1) high-grade gold complex [3][4]. - Additional tests are planned for the northernmost part of CS-600 and continued testing on the upper CS-600 [5]. - The favorable metallurgical results will guide trade-off studies for recovery versus costs, aiming to optimize the project's economic path forward [5][9].

Core Insights - AssetMark Financial Holdings, Inc. has completed its acquisition by GTCR, marking a new phase of strategic growth and independence for the company [1][5] - The acquisition is valued at approximately $2.7 billion, with shareholders receiving $35.25 per share in cash [5] - AssetMark will now operate as a privately owned company after concluding its partnership with Huatai Securities [1] Leadership Changes - Lou Maiuri has been appointed as Chairman and Group CEO of AssetMark, bringing over 30 years of experience in asset management and financial services [2][3] - Michael Kim will continue as President and CEO, and both will join the Board of Directors [2] - The leadership team aims to expand client offerings and maintain high service standards [2][4] Strategic Focus - Under the new leadership and partnership with GTCR, AssetMark plans to enhance its technology and product capabilities [2][4] - The company aims to leverage GTCR's expertise in asset management and wealth technology to drive further growth [4][8] - AssetMark's unique combination of service and technology positions it as a leader in the wealth management industry [4] Company Background - AssetMark operates a wealth management platform serving over 9,200 financial advisors and more than 261,000 investor households [7] - As of June 30, 2024, AssetMark had over $119 billion in platform assets [7] - The company has a history dating back to 1996 and employs over 1,000 people [7] GTCR Overview - GTCR is a leading private equity firm focused on transformative growth in various sectors, including financial services and technology [8] - Since its inception, GTCR has invested over $25 billion in more than 280 companies and currently manages $40 billion in equity capital [8]

Company Performance - AssetMark Financial Holdings, Inc. reported platform assets of $122.2 billion at the end of July 2024, reflecting an 18.4% increase year-over-year [1][2] - The company experienced net flows of $437 million in July 2024, which is a decrease of 19.1% year-over-year [1][2] - Client cash at AssetMark Trust Company was $2.75 billion, down 1.4% year-over-year [1][2] - The number of households served by AssetMark increased by 5.0% year-over-year, reaching 261,271 at the end of July [1][2] Historical Metrics - The platform assets have shown a consistent upward trend, increasing from $103.2 billion in July 2023 to $122.2 billion in July 2024 [2] - Net flows fluctuated over the past year, with a peak of $540 million in July 2023, but declining to $437 million in July 2024 [2] - Client cash has seen a slight decrease from $2.79 billion in July 2023 to $2.75 billion in July 2024 [2] Company Overview - AssetMark operates a wealth management platform that supports independent financial advisors and their clients, providing flexible solutions to enhance client engagement and efficiency [3] - The company, founded in 1996 and based in Concord, California, employs over 1,000 individuals and had approximately $119 billion in platform assets as of the second quarter of 2024 [3]

Core Insights - AssetMark has expanded its Cash Solutions suite by adding FDIC-insured certificates of deposit (CD Plus) and purchased Money Market Funds (MMFs), targeting an estimated $8 billion share of wallet opportunity in the wealth client cash holding space [1][2] Group 1: Product Offerings - The newly launched CD Plus offers FDIC insurance on multi-million-dollar cash balances, competitive rates, flexible terms, and convenient account management, allowing clients to save smarter [2][3] - AssetMark's Cash Solutions suite includes a range of cash and short-term liquidity products, enabling advisors to create customized solutions that cater to various return, risk, and liquidity profiles [2][3] Group 2: Market Context - Elevated interest rates present a unique opportunity for advisors to help clients improve their financial outcomes by leveraging cash management strategies [2][3] - The integration of cash management into wealth planning discussions can enhance the strategic value of advisors and strengthen client relationships [2][3] Group 3: Company Overview - AssetMark operates a wealth management platform that supports over 9,200 financial advisors and more than 261,000 investor households, with platform assets totaling $119.4 billion as of June 30, 2024 [4]