For personal use only A tungsten-tipped answer to the West's critical metals dilemma Broker Presentation June 2025 ACN 152 084 403 ASX Code: TGN Important Notices & Disclaimers Important Information and Disclaimer Tungsten Mining NL ('TGN' or 'the Company') is an Australian listed resources company. This presentation ("Presentation") has been prepared by TGN and is provided for information purposes only. This Presentation has been approved for release by the TGN Board. Not Investment or Financial Product Ad ...

Fig1 - HL quartz carbonate with green mica and stibnite (antimony sulphide) Figure 1: Howells Lake quartz carbonate with green mica and stibnite (antimony sulphide). Fig2 - HLP. Strong carbonate with dark veinlets of stibnite (antimony sulphide) Figure 2: Howells Lake Project. Strong carbonate with dark veinlets of stibnite (antimony sulphide). TORONTO, July 23, 2025 (GLOBE NEWSWIRE) -- Critical One Energy Inc. (formerly Madison Metals Inc.) (“Critical One” or the “Company”) (CSE: CRTL) (OTCQB: MMTL ...

Summary of Patriot Battery Metals Conference Call Company Overview - **Company**: Patriot Battery Metals - **Project**: Shaka Chewanan project located in Central North Quebec, Canada - **Focus**: Recent maiden resource estimate for cesium discovery and ongoing lithium exploration Key Points Industry and Market Dynamics - **Cesium Market**: The cesium discovery is significant due to its scale and grade, positioning the company as a critical player in North America's cesium supply [4][9][17] - **Lithium Market**: The company is also a major player in the lithium market, with the Shaka Chewanan project being the largest hard rock lithium resource in the Americas [18][19] Cesium Discovery - **Resource Estimate**: The maiden resource estimate includes 2,400,000 tons at 2.3% cesium, with a high-grade subset of 160,000 tons at 10.5% cesium [10][12] - **Geological Significance**: The project hosts lithium, cesium, and tantalum, making it a unique geological find [8][9] - **Applications**: Cesium is used in various industries, including medical imaging, GPS, and increasingly in solar panel technology [12][14][17] Future Demand and Technology - **Solar Industry**: The introduction of perovskite solar cells, which can significantly improve efficiency, is expected to drive cesium demand up to 10-20 times current supply levels [62][63] - **Market Risks**: The dominance of China in the critical minerals market poses a risk, highlighting the importance of diversifying supply sources [16][17] Economic Potential - **Pricing**: Cesium carbonate is valued at approximately $120,000 per ton, significantly higher than lithium carbonate [31][59] - **Downstream Engagement**: The company is exploring downstream opportunities to maximize the value of its cesium resources [32][60] Project Development and Timeline - **Feasibility Study**: A feasibility study for lithium is expected to be completed soon, with plans for staged development [19][40] - **Environmental Approvals**: The company is engaged in both provincial and federal approval processes, with positive indications for timely approvals [50][51] Community Engagement - **Indigenous Relations**: Strong relationships with the Cree community have been established, with a focus on employment and community engagement [45][46] Strategic Partnerships - **Collaborations**: The company has attracted interest from major players like VW and PowerCo, indicating strong market confidence in its projects [26][78] Conclusion - **Outlook**: The company believes it is well-positioned to capitalize on the growing demand for cesium and lithium, with a focus on sustainable and responsible mining practices [84]

Indonesia will keep talking with the US on sectoral tariffs, jet purchases and critical minerals after securing a 19% baseline tariff rate on exports to the world’s largest economy, a government adviser says https://t.co/YpT0hoAATk ...

Summary of Impact Minerals Limited Conference Call Company Overview - **Company Name**: Impact Minerals Limited - **Stock Symbol**: IPT (traded on ASX) - **Industry Focus**: High Purity Alumina (HPA) production - **Vision**: To harness Australia's mineral wealth and create lasting value for shareholders while contributing to sustainable growth in the mining sector [1][2] Key Points Discussed Market Dynamics - **Recent Developments**: - MP Materials received a $400 million investment from the Pentagon [3] - Apple announced a $500 million offtake deal for rare earth magnets [4] - **Critical Minerals**: HPA is categorized as a critical mineral essential for various high-tech applications and energy transitions [4][5] HPA Production Insights - **Resource Location**: Magic Lake, approximately 500 kilometers east of Perth, contains an estimated $15 billion worth of HPA in the top two meters of sediment [6] - **Ownership**: The company holds an 80% interest in the lake and has acquired a pilot plant for HPA production [6][7] - **Production Process**: The process involves extracting clay from the lake and transporting it to Perth for processing, minimizing environmental impact [22][27] Market Demand and Growth - **Demand Growth**: HPA demand is growing at a compound annual growth rate (CAGR) of approximately 20% [12] - **Supply Deficit**: An emerging supply deficit is expected around 2026-2027, potentially leading to significant price increases [13] - **Market Pricing**: HPA prices range from $5,000 to $30,000 per ton, with ultra-pure grades commanding even higher prices [16] Competitive Positioning - **Cost Leadership**: The company aims to be the lowest-cost producer of HPA globally, with production costs projected at $4,500 per ton [32] - **Barriers to Entry**: High purity materials are difficult to produce, creating a competitive moat for established players [33] Environmental and Community Considerations - **Environmental Impact**: The mining operation is designed to have a minimal environmental footprint, with plans to leave a shallow hole post-mining [22][73] - **Community Engagement**: The company is in discussions with local Aboriginal groups to ensure community benefits from the mining project [25][26] Financial Projections - **Net Present Value (NPV)**: The project has an NPV of over AUD 1 billion, indicating strong economic viability [30] - **Market Capitalization**: Currently valued between AUD 25 million to AUD 30 million, presenting a significant investment opportunity given the projected growth [55] Future Plans - **Pilot Plant Development**: The pilot plant is expected to produce HPA within weeks, with plans for scaling up production [43][50] - **Expansion Goals**: The company aims to establish a presence in North America and potentially list on the Nasdaq [49][53] Additional Insights - **Byproduct Revenue**: The production process will generate valuable byproducts, such as potash, which will further enhance profitability [70] - **Technological Advancements**: Collaboration with Edith Cowan University on membrane technology aims to revolutionize HPA processing [38] Conclusion Impact Minerals Limited is positioned to capitalize on the growing demand for high purity alumina through strategic resource management, innovative production techniques, and a commitment to sustainability. The company’s focus on community engagement and environmental responsibility further strengthens its market position as it prepares for significant growth in the coming years [59][60].

Core Viewpoint - The rare earth sector is gaining attention due to the global demand for critical minerals essential for clean energy, defense, and high-tech industries, with several companies emerging as key players in this space [1]. Company Summaries MP Materials - MP Materials Corp. has entered a public-private partnership with the U.S. Department of Defense, involving a multi-billion dollar investment package and long-term commitments [2]. - The company plans to build a second U.S. magnet manufacturing facility, named the "10X Facility," expected to be operational by 2028 [2]. - MP Materials has secured a $500 million deal with Apple to supply rare earth magnets made from 100% recycled materials, manufactured in the U.S. [3]. - As the second-largest producer of rare earths globally, MP Materials operates the Mountain Pass facility, which is crucial for supplying materials for electric vehicles (EVs), electronics, and defense [4]. - The company's stock has surged nearly 100% in the past week due to the announcements regarding the DoD and Apple deals [4]. USA Rare Earth - USA Rare Earth, Inc. is focused on mining, processing, and supplying rare earth elements and critical minerals, aiming to develop a vertically integrated domestic supply chain for rare earth magnet production [5]. - The company holds mining rights to the Round Top Mountain deposit in West Texas, which contains essential minerals like neodymium and lithium [6]. - USA Rare Earth’s stock has increased by over 50% in the past five days, reflecting market trends alongside MP Materials [6]. NioCorp - NioCorp Developments, Ltd. is developing the Elk Creek project, which is one of the largest potential sources of niobium and scandium, both important for advanced alloys and clean technologies [7]. - The company has received strong analyst support, with a recent price target increase from $4 to $5 by Maxim Group [11]. The Metals Company - The Metals Company, Inc. is engaged in deep-sea mining, targeting polymetallic nodules rich in battery metals, with operations in the Clarion Clipperton Zone [11]. - TMC has seen significant stock performance, gaining over 550% in 2025 due to its unique approach and strong technical ratings [12]. American Resources - American Resources Corp. specializes in producing high-purity rare earths from both recycled and virgin sources, with its ReElements segment supplying separated rare earths for U.S. commercial and defense needs [13]. - The stock of American Resources has also increased by more than 50% in the past five days, driven by heightened interest in the rare earth sector [13].

Core Viewpoint - Critical One Energy Inc. has awarded a contract to Geotech Ltd. for an advanced airborne geophysical survey over its Howells Lake Antimony-Gold Project, aiming to enhance antimony and gold discoveries and solidify its position in the critical minerals sector [1][2]. Group 1: Project Details - The airborne geophysical survey will cover the entire 13,990-hectare Howells Lake Project, utilizing helicopter-borne VTEM and horizontal magnetic gradiometer technology to map geological structures at depths of over 500 meters [2]. - This survey is the first airborne geophysical survey conducted over the project area in more than two decades, providing high-quality data for identifying mineralization targets [4]. - The project area spans over 25 kilometers of favorable geological structures, which will be crucial for expanding antimony and gold mineralization [2][4]. Group 2: Market Context - Antimony is a critical mineral with high demand due to its applications in military defense, battery technologies, and flame retardants, with over 80% of the global supply controlled by China and Russia [5]. - The Howells Lake Project is strategically located near Ontario's Ring of Fire corridor, positioning the company to address supply chain challenges while advancing gold exploration [5]. Group 3: Company Overview - Critical One Energy Inc. is focused on critical minerals and upstream energy, with a portfolio that includes antimony-gold exploration in Canada and uranium interests in Namibia [7]. - The company aims to leverage its technical, managerial, and financial expertise to create high-value projects and meet the rising global demand for critical minerals [7].

Core Viewpoint - Churchill Resources Inc. has announced high-grade results from due-diligence sampling at its Black Raven property, indicating the presence of polymetallic minerals including significant zinc, gold, silver, and lead grades [1][5]. Summary by Relevant Sections Sampling Results - The final due-diligence sample results revealed three over-limit zinc assays of 5.25%, 11.03%, and 12.11% from grab samples 305, 315, and 321 respectively [1][4]. - Other notable grades from the samples include silver grades ranging from 153 g/t to 395 g/t, gold grades from 2.16 g/t to 7.79 g/t, and lead grades from 3.10% to 8.83% [2]. Historical Context - The Black Raven Property includes two past-producing mines, the Frost Cove Antimony Mine and the Stewart Gold Mine, which had historical grades of 35.1% antimony and 14.4 g/t gold respectively [6]. - The property is located approximately 60 km northwest of Gander, Newfoundland, and has not been drilled previously [4][6]. Importance of Antimony - Antimony is highlighted as a critical mineral with over 90% of global production controlled by non-Western countries, emphasizing its strategic importance for national security and modern technology [7]. - Recent export restrictions from China have driven antimony prices to record levels exceeding $50,000 per tonne, underscoring the need for domestic sources in North America [7]. Due-Diligence Sampling Program - The sampling program was conducted by an independent qualified person, Dr. Derek Wilton, and involved various critical minerals including antimony, gold, silver, lead, zinc, copper, and molybdenum [8]. - All samples were securely delivered to SGS Canada Inc. for analysis, with specific methods employed for over-limit assays [8]. Company Overview - Churchill Resources Inc. focuses on strategic critical minerals in Canada, particularly at its Black Raven, Taylor Brook, and Florence Lake properties [15]. - The management team has extensive experience in mineral exploration and the establishment of successful mining companies [15].

Critical Minerals Market Dynamics - Surging demand for critical minerals is reshaping global dynamics, with China's dominance posing a challenge for Western nations [1] - The US and EU are trying to catch up and reduce their reliance on Beijing and Australia [1] - Australia holds some of the world's richest reserves of critical minerals, including nickel, lithium, and rare earths [3] - China is the dominant force in the processing and refining of critical minerals, representing a choke point in the supply chain [6] Australia's Strategic Opportunities and Challenges - Australia faces a defining choice: remain a raw material exporter or strategically invest in downstream processing and advanced manufacturing [4] - Strategic investment in processing, refining, and advanced manufacturing is required to achieve supply chain security and diversification away from China [7] - Nickel mines in Australia have gone into care and maintenance due to China's dominance pushing down prices [10] - Creating a national critical mineral stockpile is essential for the strategic protection of mining, processing, and refining projects [5][11] International Collaboration and Policy - The US critical minerals policy has been consistent across administrations, focusing on reshoring and building domestic supply chains [15][16] - There is potential for the US and Australia to integrate their economies to support each other in critical minerals development [8][17]

Western nations are racing to break their dependence on China for critical minerals. An aging smelter in Australia could be a test case in how much governments are willing to spend to catch up. https://t.co/bFm9u4d6o7 ...