Core Viewpoint - Critical One Energy Inc. has acquired the KCR Gold Project, which includes the Slam Gold Zone discovery, enhancing its land holdings in the Howells Lake Antimony-Gold Project area in Ontario, Canada [1][4]. Acquisition Details - The company acquired 100% interest in the KCR Property, which consists of a 20-claim unit covering approximately 320 hectares, for a total of CDN$6,000 and 50,000 common shares, subject to a 2% Net Smelter Royalty [15]. - The acquisition allows Critical One to control over 25,000 hectares of land, covering all known gold and antimony occurrences in the Howells Lake area [4]. Discovery Highlights - Visible gold mineralization was discovered in a historic drill hole, with assays showing up to 64.1 g/t over one meter [2]. - The Slam Gold Zone averaged 3.54 g/t Au over 20.4 meters, located 100 meters below a gold geochemical target with over 1 km of anomalous results [2]. - The Slam Gold Zone remains untested in all directions, indicating significant exploration potential [2][7]. Historical Context - Gold was first identified on the KCR Property in the 1930s, with notable historic trenching results including 16.42 g/t Au over 3.35 meters in 1974 and 12.82 g/t Au over 4.11 meters in 1980 [2][5]. - The KCR Property has a historical resource estimate of 1.7 million tons at a grade of 1.4% antimony, although this estimate is not compliant with NI 43-101 standards [10]. Strategic Positioning - The acquisition enhances Critical One's strategic position, covering over 30 km of geological trend with strong alteration and underexplored antimony-gold targets [4][7]. - The company is advancing its exploration program, supported by a recent private placement of CDN$3.3 million, to fund near-term exploration activities [11]. Future Plans - Critical One is awaiting results from a recent airborne geophysical survey to assist in target selection and further exploration [9]. - The company plans to conduct follow-up drilling to delineate and expand the antimony-gold resource, including a maiden drill program on the V-3 historical antimony deposit [11].

Core Insights - Atlas Critical Minerals Corporation expects to generate initial revenues from its Iron Quadrangle Project in the fourth quarter of 2025, facilitated by a strategic partnership with a Brazilian iron ore processor [1][5]. Company Overview - Atlas Critical Minerals controls a significant portfolio of critical mineral rights in Brazil, covering over 218,000 hectares, which includes projects in rare earths, titanium, and graphite [5]. - The Iron Quadrangle Project is located in the Minas Gerais region, a key iron ore district in Brazil, and encompasses approximately 55,057 acres across 18 mineral rights [4][5]. Project Development - The company has undertaken detailed geological exploration, including a drilling campaign covering about 10% of the mineral rights, leading to an initial technical report summary published in 2022 [4]. - In May 2024, Atlas received a 10-year operational license, followed by mining concession status from the Ministry of Mines and Energy in May 2025 [4]. Revenue Generation Strategy - The mining will be conducted via open-pit methods, with an independent Brazilian company processing the extracted iron ore into high-quality sinter feed, allowing Atlas to receive revenues from both run-of-mine material and a percentage of the final product [1][3]. - The company anticipates that this model will lead to immediate profitability and enable reinvestment into the development of its critical minerals portfolio [3].

Core Viewpoint - Troilus Gold Corp. has signed a Memorandum of Agreement with Aurubis AG for the long-term offtake of copper-gold concentrate from the Troilus Project in Québec, Canada, marking a significant step in project financing and development [1][3][4] Group 1: Agreement Details - The MoA formalizes the offtake terms previously indicated on June 18, 2025, and establishes a framework for long-term concentrate supply [1][3] - The agreement was signed during Canada's Critical Minerals Mission to Germany, highlighting the international significance of the project [2][4] - The MoA covers a substantial portion of Troilus' concentrate to be delivered to Aurubis, aligning with a broader debt financing package of up to US$700 million announced on March 13, 2025 [3][4] Group 2: Strategic Importance - The partnership is seen as a step forward in enhancing Canada-Europe cooperation on critical minerals, reinforcing Canada's position as a reliable supplier of responsibly sourced copper and gold [4][6] - The agreement underscores the importance of Canadian critical mineral projects in strengthening global supply chains and positions Troilus as a future North American supplier to European markets [6] Group 3: Support and Advisory - Ocean Partners USA Inc. is acting as Troilus' independent third-party advisor, providing market insight and guidance for the concentrate offtake strategy [7] - Auramet International Inc. is assisting with structuring the debt package and engaging with potential lenders and strategic partners [8]

Core Viewpoint - Power Metallic Mines Inc. has appointed Seamus O'Regan to its board, leveraging his extensive experience in government affairs and energy resources to advance the Nisk Project, which aims to be the world's first carbon-neutral polymetallic mine [7][8]. Company Overview - Power Metallic is a Canadian exploration company focused on the Nisk Project Area, which includes high-grade Copper, Platinum Group Elements (PGE), Nickel, Gold, and Silver [10]. - The company currently controls approximately 212.86 square kilometers of land, following the acquisition of 313 adjoining claims in July 2025 [11]. Leadership and Expertise - Seamus O'Regan has a distinguished background in politics and journalism, having served as Canada's Minister of Energy & Natural Resources and in various other ministerial roles [3][4]. - His expertise includes overseeing Canada's first Critical Minerals Plan and other significant energy initiatives, which will be beneficial for Power Metallic as it develops its projects [3][7]. Project Development - Power Metallic is engaged in a 100,000-meter drill program at the Nisk Project, with four rigs currently operational and a fifth expected to be added soon [9]. - Initial results from the summer drilling campaign are anticipated shortly, with updates expected every 2-4 weeks through the end of the year [9]. Strategic Importance - The Nisk Project is positioned as increasingly critical for economic output and plays a vital role in the defense, industrial, and AI infrastructure sectors [7]. - Canada is highlighted as uniquely positioned to lead in mineral development due to its mineral wealth and geopolitical advantages [8].

International Cooperation - Germany and Canada committed to increasing collaboration on securing critical mineral supply chains [1] Industry Focus - The focus is on critical minerals essential for energy and defense technologies [1]

Copper and potash have been included in the US Geological Survey’s draft list of critical minerals — a further step in clearing the way for broader policy support https://t.co/QgxC3Cpd9p ...

US-Ukraine Relations & Security Guarantees - The US aims to ensure its continued engagement in the Ukraine conflict, with European leaders also focused on this [2] - Security guarantees for Ukraine are a key point of discussion, potentially similar to Article 5 of NATO, ensuring Ukraine's sovereignty against future Russian threats [4][8] - These security guarantees may involve a significant build-up of the Ukrainian military [9] Ceasefire & Long-Term Peace - A ceasefire might benefit Russia by allowing them to rearm, potentially hindering a sustainable peace plan [11] - The focus should be on topics that create a sustainable peace plan, bypassing a ceasefire [12] - Security guarantees are needed to achieve a long-term peace agreement [13] Economic & Strategic Considerations - Economic pressure through sanctions and tariffs can be exerted on Russia, a petro economy [12] - The US sees Ukraine as a valuable ally with significant resources and critical minerals [14] - The US aims to win the peace through economic entanglement between US and Ukrainian companies, similar to post-war investments in South Korea and Japan [15] Trump Administration's Role - Former President Trump's actions put the initial meeting with Putin in place and pushed NATO nations towards allocating 5% of their GDP to counter Russia [3] - Trump is aware of Putin's untrustworthiness and history of violating agreements [6][7] - Trump intends to bolster security guarantees with commercial entanglement, reconstruction, and critical minerals [9]

Core Viewpoint - Focus Graphite Inc. announces the appointment of Susan Rohac to its Board of Directors, replacing Robin Dow, and highlights its participation in the Canadian Critical Minerals Investment Forum in Japan and Korea [2][4][5] Group 1: Board Changes - Susan Rohac has over 34 years of experience at the Business Development Bank of Canada, where she managed a climate tech venture capital fund with a portfolio exceeding $1 billion, including a fully deployed $600 million fund and a $500 million fund launched in 2022 [3] - Rohac's expertise includes investments in various climate technologies, particularly in advanced materials and critical minerals, and she has received recognition as a Climate Leader by Clean50 in 2024 [3][4] - The company expresses gratitude to Robin Dow for his years of service and leadership, which helped position Focus Graphite for future growth [4] Group 2: Strategic Initiatives - Focus Graphite will participate in the Canadian Critical Minerals Investment Forum in Tokyo from August 26-28, 2025, and in Korea from August 29-30, 2025, aimed at advancing partnerships in critical minerals [4][5] - The company is one of only two Canadian graphite firms attending the Forum, which will facilitate discussions with global investors and industry leaders [5] - Focus Graphite recently visited its Lac Knife project site, meeting with representatives from Korea Mine Rehabilitation and Mineral Resources Corporation and local officials to provide updates on project progress [6] Group 3: Company Overview - Focus Graphite operates two 100% owned graphite projects, with the Lac Knife project being one of the most advanced high-purity graphite deposits in North America, fully permitted for mining [10] - The company is committed to environmentally sustainable processing solutions and innovative battery technologies, including a patent-pending silicon-enhanced spheroidized graphite [11][12] - Focus Graphite aims to secure a locally sourced supply of critical minerals, reducing dependence on foreign markets and supporting the transition to a sustainable future [12]

Financial Data and Key Metrics Changes - The company reported a net loss of $74.3 million or $0.20 per share for Q2 2025, compared to a net loss of $20.2 million or $0.06 per share for the same period in 2024 [32] - Free cash flow for Q2 2025 was negative $10.7 million, an improvement from negative $12.2 million in Q2 2024 [33] - The cash balance increased significantly to approximately $120 million by July 4, 2025, following various capital raises [30][34] Business Line Data and Key Metrics Changes - The Pre-Feasibility Study (PFS) indicated a combined project net present value (NPV) of over $23 billion, with a clear capital-efficient path to first production [9][28] - The estimated recoverable nodules for the PFS is 164 million wet tons, with an assumed production start date in Q4 2027 and a life of mine of just over 18 years [21][22] - The revenue mix is expected to be 45% from nickel products, 28% from manganese, 17% from copper, and 9% from cobalt [24] Market Data and Key Metrics Changes - The company has renewed and strengthened agreements with the Republic of Nauru and the Kingdom of Tonga, emphasizing a science-based approach to developing the seabed mining industry [12] - The strategic investment of $85 million from Korea Zinc positions the company to supply refined metals in South Korea and potentially build new facilities in the USA [13] Company Strategy and Development Direction - The company aims to adapt to a capital-light approach while advancing its projects, maintaining a competitive edge in the seabed mining industry [8] - The focus is on achieving regulatory certainty and moving towards first production, with a target date set for Q4 2027 [10][11] - The company plans to build refining capacity in the USA to support its production and contribute to US mineral independence [25][70] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the regulatory environment, noting daily communication with NOAA and a supportive administration [42][43] - The company anticipates good news from regulators and expects to maintain a regular cadence of updates as it progresses through the permitting process [41][44] - There is confidence in the ability to manage normal business risks and supply chain issues, with a strong board and partnerships in place [52] Other Important Information - The company is pursuing funding opportunities from various US government departments for both offshore and onshore components of its operations [66][68] - The anticipated ramp-up in profitability is expected to support significant capital expenditures for onshore refining capacity after production begins [25][27] Q&A Session Summary Question: What work needs to be done to get through the feasibility level and the timeline? - The focus will be on finalizing agreements with Allsys and preparing for the investment decision to order long lead items for production [39] Question: What are the next major steps or milestones regarding permitting under NOAA? - The company expects good news from NOAA and is in daily contact with regulators, anticipating changes to fast-track permitting [41][42] Question: What factors could accelerate or slow down progress towards production? - Management believes there are no significant regulatory hurdles, and the focus will be on managing supply chain issues [52] Question: How will the capital expenditures be split among partners? - The breakdown of capital expenditures is still being finalized, but there is a long-standing assumption of splitting pre-production costs with Allsys [63] Question: Are there funding opportunities available for the offshore side? - The company is actively pursuing funding from various US government programs for both offshore and onshore components [66][68] Question: Could the processing plant development be expedited? - The company could accelerate the development of processing facilities if favorable terms are available from funding agencies [70]

Financial Data and Key Metrics Changes - In Q2 2025, TMC reported a net loss of $74.3 million or $0.20 per share, compared to a net loss of $20.2 million or $0.06 per share in the same period of 2024 [32] - Free cash flow for Q2 2025 was negative $10.7 million, an improvement from negative $12.2 million in Q2 2024 [33] - The company had pro forma cash of approximately $120 million as of June 30, 2025, which includes proceeds from various capital raises [30] Business Line Data and Key Metrics Changes - The Pre-Feasibility Study (PFS) indicated a combined project net present value (NPV) of over $23 billion, with a clear capital-efficient path to first production [9] - The estimated recoverable nodules for the PFS is 164 million wet tons, with an assumed production start date in Q4 2027 [21] - Annual production in steady state is modeled at 10.8 million tons of wet nodules, with expected revenue per dry ton of approximately $600 during steady state production [22][24] Market Data and Key Metrics Changes - The revenue mix is expected to be 45% from nickel products, 28% from manganese, 17% from copper, and 9% from cobalt [24] - The company is positioned in the first quartile of the cost curve, with C1 nickel cash costs just over $1,000 per ton, making it profitable in nearly any nickel price environment [24] Company Strategy and Development Direction - TMC aims to adapt to a capital-light approach while advancing its projects, maintaining a unique position in the seabed mining industry [8] - The company has renewed partnerships with Nauru and Tonga, focusing on a science-based approach to develop the industry sustainably [12] - TMC is exploring funding opportunities from various U.S. government departments to support its projects [41][67] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the regulatory path and the support from the U.S. government, indicating a favorable environment for seabed mining [45][60] - The anticipated ramp-up period post-permitting is expected, with production targeted for Q4 2027 [10] - Management highlighted the importance of securing domestic supply chains and advancing U.S. mineral independence [14] Other Important Information - The company welcomed new board members with extensive experience in energy, finance, and law, enhancing its strategic capabilities [14] - TMC's partnerships with Korea Zinc and other stakeholders are expected to facilitate the development of refining capacity in the U.S. [13][26] Q&A Session Summary Question: What work needs to be done to get through the feasibility level and the timeline? - Management emphasized focusing on final agreements with partners and preparing for the investment decision to meet the Q4 2027 production target [40] Question: What are the next major steps or milestones regarding permitting under NOAA? - Management indicated that the closing of the comment period and expected regulatory changes would facilitate faster permitting [42][44] Question: What main factors could accelerate or slow down progress towards production? - Management noted that government support and regulatory clarity are encouraging, with normal business risks being manageable [52][53] Question: Can you clarify the difference between provisional approval and final approval? - Management explained that provisional approval would provide confidence while the final approval process is completed, which is expected by the end of the year [79][82]