Core Points - Gravity Co., Ltd. has officially launched its mobile MMORPG game, "Ragnarok: The Promised Adventure," in China on September 25, 2025 [1] - The game retains the classic elements of Ragnarok Online while introducing new features such as a multi-character training system and automated rewards, enhancing user experience [2][3] - The game is co-developed with Kingnet Network Co., Ltd. and will be available on platforms like WeChat Mini Programs, TikTok Mini Games, and through APK downloads, with an Apple App Store release forthcoming [2] Company Overview - Gravity is a developer and publisher of online and mobile games, with its flagship product, Ragnarok Online, being popular in various markets including Japan and Taiwan, and currently offered in 91 regions [3] - The company aims to enhance the nostalgic appeal of the original Ragnarok IP while providing new systems and convenience features to improve gameplay [3]

Core Insights - Eminent Gold Corp. has announced the results of its gravity program at the Hot Springs Range Project, highlighting its significance as a new gold district in Nevada [1][4] - The gravity survey identified five distinct exploration targets, with three targets confirming previously delineated structures [2][3] Exploration Targets - The identified targets include the Otis, Sitka, and Eden targets, which are part of the northeast-trending HSR corridor, demonstrating over 10 kilometers of cumulative strike length defined by multiple NE-trending faults [3][6] - Target Four is interpreted as a possible magmatic intrusion, while Target Five is a gravity low indicating a recessively weathered basin, both of which are considered highly prospective [7][9] Survey Methodology - The gravity survey comprised 1,002 gravity stations, utilizing a 400-meter square grid over the Eden target and a 200-meter square grid over the Otis target [10] - Data processing involved standard procedures to produce a complete Bouguer gravity anomaly, with terrain corrections calculated for distances up to 167 kilometers [12][13][14] Company Outlook - The President and CEO of Eminent Gold Corp. expressed optimism about the project, likening it to the world-class Getchell Trend and emphasizing the potential for multiple discovery opportunities [4][6] - The Chief Geologist noted that the gravity survey revealed a larger, structurally connected system than initially expected, with plans for further prospecting and drilling [7][8]

Core Insights - Appia Rare Earths & Uranium Corp. has initiated a high-resolution ground gravity survey at its Alces Lake Rare Earth Elements project in Saskatchewan, which is a continuation of its phased exploration strategy following a 2024 airborne survey [1][2] Group 1: Survey Details - The ground gravity survey is being conducted by MWH Geo-Surveys Ltd. and aims to refine priority gravity anomalies identified in the previous airborne survey, which are believed to indicate potential sources of monazite-hosted REE mineralization [2] - The survey will enhance resolution and accuracy for drill targeting in upcoming diamond drilling campaigns [2][3] Group 2: Technical Commentary - Tom Drivas, President of Appia, emphasized the importance of the ground gravity survey in refining and prioritizing exploration drill targets, aiming to maximize efficiency and precision for the planned drill campaign [3] - The survey will cover multiple gravity features along a regional fold and structural corridor, which hosts high-grade REE showings, including a notable 16.1 wt% TREO over 15.6 m and 49.17% wt% TREO over 3.7 m in drill core [3] Group 3: Company Overview - Appia Rare Earths & Uranium Corp. is focused on delineating high-grade critical rare earth elements and gallium at Alces Lake, while also exploring for high-grade uranium in the Athabasca Basin across several properties [7] - The company holds surface rights for exploration over 94,982.39 hectares in Saskatchewan and has a 100% interest in 13,008 hectares with mineralized zones in Ontario [7]

Core Viewpoint - GRAVITY Co., Ltd. has officially launched Ragnarok M: Classic Global, an MMORPG mobile and PC game, in multiple regions including North and South America, Europe, the Middle East, certain areas of North Africa, and Oceania on September 3, 2025 [1]. Group 1 - Ragnarok M: Classic Global aims to provide a classic gaming experience reminiscent of early Ragnarok M: Eternal Love, featuring a Zeny-centered economy for fair gameplay [2]. - The game supports multiple languages including English, Portuguese, Spanish, and German, enhancing its accessibility to a broader audience [2]. - Positive feedback was received during the closed beta test (CBT) held in August, which has increased user anticipation for the official launch [2]. Group 2 - The PC version of Ragnarok M: Classic Global is available for download from the official website, while the mobile version can be accessed via Google Play and Apple App Store in their respective regions [2]. - The company expresses gratitude to global users for their patience and invites them to participate in various events celebrating the official launch [3]. - GRAVITY Co., Ltd. is recognized for its development and publishing of online and mobile games, with its principal product, Ragnarok Online, being popular in various markets including Japan and Taiwan, and currently offered in 91 regions [3].

Core Insights - Lucid Group, Inc. has launched the Gravity X, an adventurous electric vehicle (EV) model that enhances off-road capabilities and rugged styling, building on the existing Gravity Grand Touring model [1][9] Product Features - The Gravity X features a fresh design with higher ground clearance, improved approach and departure angles, all-terrain tires, protective skid plates, and tow hooks [2] - Interior upgrades include premium leather seating, high-performance floor mats, and a microsuede steering wheel, emphasizing luxury alongside adventure [3] Market Positioning - The Gravity X aims to cater to luxury EV buyers seeking a balance between weekday sophistication and weekend adventure capabilities, indicating a shift in consumer preferences [4] - If produced, the Gravity X would enter the niche market of adventure-focused electric SUVs, positioning Lucid against competitors like Rivian Automotive, which already emphasizes off-road features [5][9] Financial Performance - Lucid has underperformed the Zacks Automotive-Domestic industry, with shares down 30.8% year-to-date compared to the industry's decline of 16.5% [7] - The company is currently trading at a forward price/sales ratio of 2.76, which is higher than the industry average of 2.67, indicating potential overvaluation [12] Earnings Estimates - The Zacks Consensus Estimate for Lucid's bottom-line loss for 2025 and 2026 has widened by a penny each in the past 30 days, reflecting ongoing challenges [11]

Core Insights - Gravity Co., Ltd. has officially launched its mobile game Ragnarok: Twilight in China on August 15, 2025, marking a significant expansion in the Chinese gaming market [1] Game Features and Reception - Ragnarok: Twilight incorporates classic elements from Ragnarok Online while introducing innovative features such as a hero transformation system and offline auto-hunting functionality, enhancing user experience [2] - The game received positive feedback during its closed beta test, which has increased user anticipation prior to its official launch [2] Market Performance - After its launch, Ragnarok: Twilight achieved notable success by ranking eighth in top grossing as a WeChat Mini Programs game in China [3] - The game ranked first in free downloads on the Apple App Store in Taiwan, Hong Kong, and Macau before its launch, and subsequently ranked second in top grossing on the Apple App Store in Taiwan, sixth in Macau, and eighth in Hong Kong [3] - Additionally, it ranked first in free downloads on Google Play in Taiwan, third in Macau, and sixth in Hong Kong after launching [3] Company Expectations - Gravity expressed high expectations for Ragnarok: Twilight, highlighting its blend of classic and innovative features that aim to satisfy a broad user base [4]

Financial Performance - Gravity reported revenue of KRW 171 billion in 2025 2Q, a 242% QoQ increase and a 389% YoY increase[21] - Operating profit for 2025 2Q was KRW 20 billion, a 205% QoQ decrease but a 312% YoY increase[21] - Mobile games contributed KRW 144003 million to the total revenue in 2025 2Q[27] - PC games generated KRW 21971 million in revenue in 2025 2Q[27] - The largest regional revenue contribution came from Southeast Asia & others, accounting for 434% of the total in 2025 2Q[23] Game Launch and Pipeline - Gravity plans to launch "Ragnarok 3" globally in 2026[121] - "Ragnarok M Classic" is scheduled for additional launch in North and South America, Europe, Middle East, and Africa on September 3, 2025[49, 55, 121] - "PROJECT ABYSS" is scheduled for initial launch in Southeast Asia in 4Q 2025[62, 121] - "Ragnarok The Promised Adventure" is planned for launch in China on October 1, 2025[74, 121] Business Strategy - Gravity aims to maximize sustained growth and brand value through an IP-driven, multi-title strategy[32, 35, 40] - The company is expanding its global influence through various games based on the Ragnarok IP, leveraging subsidiaries in Thailand, Taiwan, Indonesia, Singapore, Hong Kong, America, and Malaysia[131]

Core Insights - Gravity Co., Ltd. reported its unaudited financial results for Q2 2025, showing significant growth in revenues driven by new game launches and expansions in various markets [1][2]. Financial Performance - Total revenues for Q2 2025 reached KRW 170,740 million (US$ 126,147 thousand), marking a 24.2% increase QoQ and a 38.9% increase YoY [9]. - Online game revenues were KRW 21,971 million (US$ 16,233 thousand), up 16.8% QoQ and 13.0% YoY, primarily due to the launch of Ragnarok Online America Latina [3]. - Mobile game revenues surged to KRW 144,003 million (US$ 106,393 thousand), reflecting a 24.7% increase QoQ and a 45.4% increase YoY, driven by new titles like Ragnarok M: Classic and Ragnarok X: Next Generation [4]. - Other revenues increased to KRW 4,766 million (US$ 3,521 thousand), a 50.3% increase QoQ and 5.8% increase YoY [5]. Cost and Expenses - Cost of revenue for Q2 2025 was KRW 114,006 million (US$ 84,231 thousand), representing a 30.4% increase QoQ and a 50.0% increase YoY, mainly due to commissions for mobile game services [6]. - Operating expenses rose to KRW 37,064 million (US$ 27,383 thousand), a 46.6% increase QoQ and 15.9% increase YoY, largely due to increased advertising expenses for new game launches [7]. Profitability - Operating profit for Q2 2025 was KRW 19,670 million (US$ 14,533 thousand), down 20.5% QoQ but up 31.2% YoY [9]. - Profit before income tax expense was KRW 18,706 million (US$ 13,821 thousand), a decrease of 34.2% QoQ and 6.7% YoY [9]. - Net profit attributable to the parent company was KRW 13,245 million (US$ 9,786 thousand), down 39.9% QoQ but up 5.4% YoY [10]. Liquidity - As of June 30, 2025, the company had cash and cash equivalents totaling KRW 576,840 million (US$ 426,184 thousand) [11]. Business Updates - Several new games were launched or are scheduled for launch, including Ragnarok: The Promised Adventure in China on October 1, 2025, and Ragnarok M: Classic in North and South America on September 3, 2025 [12][13]. - The company continues to expand its game portfolio with various titles across different regions, indicating a strong growth strategy [12][15].

Revenue Performance - Online game revenues for Q2 2025 were KRW 21,971 million (US$ 16,233 thousand), a 16.8% increase QoQ and a 13.0% increase YoY, driven by the launch of Ragnarok Online America Latina[5] - Mobile game revenues reached KRW 144,003 million (US$ 106,393 thousand) in Q2 2025, reflecting a 24.7% increase QoQ and a 45.4% increase YoY, attributed to new game launches in various regions[6] - Total revenues for Q2 2025 were KRW 170,740 million (US$ 126,147 thousand), representing a 24.2% increase QoQ and a 38.9% increase YoY[8] - Total net revenue for the six months ended June 30, 2025, increased to KRW 308,204 million, up 27% from KRW 242,746 million for the same period in 2024[26] - Mobile games revenue for the three months ended June 30, 2025, reached KRW 144,003 million, a 45% increase compared to KRW 99,019 million in the same period last year[26] Profitability - Operating profit for Q2 2025 was KRW 19,670 million (US$ 14,533 thousand), a 20.5% decrease QoQ but a 31.2% increase YoY[8] - Operating profit for the three months ended June 30, 2025, was KRW 19,670 million, a 31% increase from KRW 14,989 million in the same period last year[26] - Net profit attributable to the parent company was KRW 13,245 million (US$ 9,786 thousand) for Q2 2025, a 39.9% decrease QoQ but a 5.4% increase YoY[12] - Profit for the year for the six months ended June 30, 2025, was KRW 35,298 million, down 10% from KRW 39,464 million for the same period in 2024[26] Operating Expenses - Operating expenses increased to KRW 37,064 million (US$ 27,383 thousand) in Q2 2025, a 46.6% increase QoQ and a 15.9% increase YoY, primarily due to higher advertising costs[10] Cash and Assets - The cash and cash equivalents balance was KRW 576,840 million (US$ 426,184 thousand) as of June 30, 2025[13] - Total current assets as of June 30, 2025, were KRW 686,658 million, a slight increase from KRW 653,610 million as of December 31, 2024[23] Liabilities and Equity - Total liabilities as of June 30, 2025, were KRW 126,047 million, up from KRW 118,096 million as of December 31, 2024[23] - Total equity attributable to owners of the Parent Company as of June 30, 2025, was KRW 595,755 million, an increase from KRW 567,672 million as of December 31, 2024[23] Upcoming Game Launches - Ragnarok: The Promised Adventure is set to launch in China on October 1, 2025, following its ISBN approval[14] - Ragnarok X: Next Generation will expand to Europe, the Middle East, Africa, and South Asia in October 2025 after its initial launch in May 2025[14] - Ragnarok M: Classic is scheduled for launch in North and South America, Europe, Middle East, and Africa on September 3, 2025[14] Earnings Per Share - Earnings per share for the three months ended June 30, 2025, was KRW 1,906, compared to KRW 1,809 for the same period in 2024[26] Finance Income - The company reported a finance income of KRW 2,651 million for the three months ended June 30, 2025, down from KRW 8,867 million in the same period last year[26]

Core Viewpoint - Eminent Gold Corp. has initiated a high-resolution gravity geophysical survey at the Otis target within its Hot Springs Range Project in Nevada, aiming to enhance exploration efforts and increase the probability of intersecting higher-grade gold zones [1][2][4]. Group 1: Project Details - The Hot Springs Range Project is strategically located adjacent to the 50-million-ounce Au Getchell Trend, making it a significant area for gold exploration [1]. - The gravity survey is designed to identify structural features such as faults and fluid conduits that may control mineralization, thereby refining the targeting model [2]. - The survey will also focus on the Eden target within the 15 km-long Hot Springs Range trend, with drilling expected to resume after data interpretation [2][3]. Group 2: Company Insights - Eminent Gold believes it is in the early stages of uncovering a significant gold system at the HSRP property, supported by collaboration with Kinross Gold Corporation, a 9.9% shareholder [4]. - The company is well-positioned with three major gold opportunities in Nevada, all of which are expected to come online with drill permits this year [4]. - The gravity survey is anticipated to be completed in the coming weeks, with drilling set to resume in August [3].