In your view, how should we be measuring progress as these meetings are underway. You know, it's a great question. And in some cases you have to measure progress based on what is President Trump done since the inauguration in terms of his foreign policy successes, where he's had several conflicts come to resolution, his domestic successes, and without putting himself into a position of strength as he's done, it would have been terribly challenging to have that first meeting with Putin.I found that first mee ...

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]

Every other trade deal has been concluded very quickly. What is the pace of this one telling you. Well, there's not a lot of time for these negotiations to proceed.So I think it's extremely important that both sides have agreed to a tariff rollover. So now they can really put their energies and attention on the key outstanding issues, including export controls, critical minerals, excess capacity, you name it. There's lots of issues on the agenda and not a lot of time to come up with negotiated solutions.Let ...

Group 1 - Critical One Energy Inc. has arranged a private placement financing of up to 3,400,000 units at a price of CDN$0.60 per unit, aiming for gross proceeds of up to CDN$2,040,000 [1][2] - Each unit consists of one common share and one warrant, with the warrant allowing the purchase of one common share at CDN$1.00 for 18 months [2] - The offering is expected to close on or about August 18, 2025, pending necessary regulatory approvals [3] Group 2 - Proceeds from the offering will be allocated to activities related to the Howells Lake Antimony Gold Project, including verification drilling and permitting, as well as strengthening the company's balance sheet [3] - The Board of Directors has undergone changes, with Duane Parnham, Roger Laine, Shawn Parnham, and Chet Idziszek now serving, while Suzanne Wood and Victoria Donato were not re-elected [4] - Critical One Energy Inc. focuses on critical minerals and upstream energy, with a strategic position to meet the rising global demand for critical minerals, particularly through its antimony-gold exploration in Canada and uranium interests in Namibia [5]

Core Viewpoint - Critical One Energy Inc. has announced a private placement financing to raise up to CDN$2,040,000 through the sale of 3,400,000 units at CDN$0.60 per unit, with proceeds aimed at supporting its Howells Lake Antimony Gold-Project and strengthening its balance sheet [1][3]. Group 1: Private Placement Details - The private placement consists of units, each comprising one common share and one warrant, with the warrant allowing the purchase of an additional common share at CDN$1.00 for 18 months [2]. - The offering is expected to close around August 18, 2025, pending necessary regulatory approvals [3]. Group 2: Use of Proceeds - Proceeds from the offering will be allocated for verification drilling, permitting, corporate strategies, and general working purposes related to the Howells Lake Antimony Gold-Project [3]. Group 3: Board Changes - The Board of Directors has undergone changes, with Duane Parnham, Roger Laine, Shawn Parnham, and Chet Idziszek now serving, while Suzanne Wood and Victoria Donato were not re-elected [4]. Group 4: Company Overview - Critical One Energy Inc. focuses on critical minerals and upstream energy, particularly in antimony and uranium, positioning itself to meet the growing global demand for these resources [5].

Core Viewpoint - Winshear Gold Corp. has entered into an agreement to earn a 100% interest in the Portsoy Project, a nickel-copper-cobalt project located in Northeast Scotland, subject to TSX Venture Exchange approval [1][2]. Project Overview - The Portsoy Project covers an area of 250 km² and is located approximately 60 km northwest of Aberdeen, Scotland [9]. - The project area is underlain by Neoproterozoic rocks of Dalradian Age, intruded by ultramafic and mafic rocks, which host the nickel-copper-cobalt mineralization [10]. Exploration and Drilling Results - Exploration at the Rodburn Target has revealed near-surface, high-grade nickel-copper-cobalt sulphide mineralization [2]. - Significant drill intercepts include: - RBD001: 12.48 m at 0.63% Ni, 0.54% Cu, and 403 ppm Co [4]. - RBD002: 35.40 m at 0.71% Ni, 0.30% Cu, and 473 ppm Co [4]. - RBD004: 12.26 m at 1.02% Ni, 0.83% Cu, and 633 ppm Co [4]. - The South Zone of the Rodburn Target is up to 30 m thick and has been confirmed to a vertical depth of 180 m, while the North Zone remains open in all directions [6][12]. Agreement Terms - To earn a 100% interest, Winshear must complete a minimum of £3,000,000 in expenditures over five years, including 1,000 m of drilling and metallurgical testwork [13]. - The agreement includes the issuance of 6,500,000 common shares to Peak Nickel over five years [13]. Future Plans - Upon TSX-V approval, the company plans to commence a minimum 1,000 m drill program and initiate metallurgical testwork [16].

Financial Data and Key Metrics Changes - The company reported a net loss of $22 million or $0.10 per share in Q2, an improvement from a net loss of $26 million or $0.13 per share in Q1 [39] - Liquidity at June 30 was over $250 million, with a significant portion in cash, cash equivalents, and liquid market securities [37] - Finished product inventory was nearly $60 million, with additional inventory of vanadium and rare earth elements [38] Business Line Data and Key Metrics Changes - Uranium production increased significantly, with over 660,000 pounds mined in Q2, indicating a potential annualized rate of 2.7 million pounds [12] - The company expects to ramp up uranium production to a run rate of 2 million pounds per year, with costs projected between $23 to $30 per pound for finished goods [3][19] - Rare earth prices have improved, with NDPR prices up about 20% recently, and heavy rare earth prices in Europe significantly higher than in China [4][35] Market Data and Key Metrics Changes - The company is positioned as a leading producer of rare earth oxides, with significant demand for these critical minerals in various sectors [10][34] - The market for uranium is expected to grow, with bipartisan support in the U.S. for clean energy initiatives [10] - The company has contracts for 300,000 pounds of uranium deliveries in the last two quarters of the year, indicating strong demand [25] Company Strategy and Development Direction - The company is focused on becoming a global leader in critical minerals, with a diversified portfolio across uranium, rare earths, and heavy mineral sands [8][9] - The strategy includes ramping up uranium production while advancing rare earth separations and heavy mineral sands projects [4][30] - The company is actively pursuing additional long-term uranium sales contracts and exploring opportunities for spot sales [25][42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's momentum and the favorable timing for uranium production, citing high grades and low costs [3] - The company is optimistic about the future of rare earths, particularly with rising prices and increasing demand [34] - Management highlighted the importance of maintaining a strong balance sheet to support ongoing and future projects [70] Other Important Information - The company has received final regulatory approvals for the Donald project, which is rich in heavy minerals [4] - The feasibility study for the Toliara project is nearing completion, with expectations for a final investment decision as early as 2026 [31][49] - The company is advancing its R&D work on recovering radium for medical technologies [11] Q&A Session Summary Question: What differentiates the company in discussions with agencies like the DOD for potential off-take or funding? - The company emphasized its operational infrastructure, multiple projects, and proven ability to deliver on commitments as key differentiators [52][54] Question: Plans to procure sufficient levels of feedstock for processing? - The company is currently constrained on feedstock, primarily relying on Chemours, but is open to procuring additional monazite from other sources [56][58] Question: Discussion on the Pinion Plain project and cost guidance? - The company noted that trucking capacity is a major limitation affecting production rates, but is working to resolve this while maintaining conservative guidance [63][66] Question: Changes in internal thought process regarding minimum cash or working capital? - The company aims to maintain a strong balance sheet to support various activities, including potential M&A and project financing [70] Question: Discussions with the Australian government regarding funding support for the Donald project? - The company has had discussions with both the Australian and U.S. governments regarding potential support for critical minerals projects [75][79] Question: Next steps for confirming the final investment decision for the Donald project? - The focus is on securing bankable offtakes and financing to prepare the project for construction [93]

Company Overview - Encounter Resources has a market capitalization of approximately $130 million and an enterprise value of around $111 million [11] - The company holds a strong cash position of approximately $19 million as of June 30, 2025 [11, 16] - Major shareholders include Board/Management (35%), Other (26%), Institutions (18%), IGO (10%), and Chalice Mining (6%) [13] Aileron Project - West Arunta - The Aileron Project is targeted for IOCG copper-gold exploration [23] - An initial inferred Niobium Mineral Resource Estimate (MRE) was released in May 2025, showing 19.2Mt @ 1.74% Nb₂O₅ (≥1.0% cut-off) [35] - A high-grade intercept at the Joyce prospect showed 9m @ 2.2% Nb₂O₅ from 120m [38] Copper Projects - Paterson Province - Encounter Resources holds 100% ownership of the Lamil and Yeneena Copper Projects in the Paterson Province [46] - South32 has a farm-in agreement for the Jessica Copper project in the Northern Territory [49]