Core Insights - Locksley Resources has received a letter of interest from the Export-Import Bank of the United States for potential financing of up to $191 million for its Mojave project, which is a key initiative under the White House's directive to rebuild domestic supply chains for antimony and rare earth elements [1][2] - The Mojave project is recognized as a low-risk solution that reduces dependence on Chinese supply, with recent success in producing a 100% American-made antimony ingot [3][4] - The project aligns with federal initiatives aimed at strengthening US industrial capability and reducing reliance on foreign sources [6] Financing and Government Support - The letter of interest from EXIM is seen as a pivotal step in Locksley's collaboration with federal agencies, facilitating due diligence and underwriting for a comprehensive financing package [5] - The project has garnered support from the Australian Export Finance Agency, further enhancing its strategic importance [4] Strategic Importance - The Mojave project is positioned at the forefront of US efforts to establish Western-based critical mineral supply chains, especially following recent developments in US-China trade agreements [2] - The combination of EXIM support and successful production of American-made antimony ingots demonstrates progress toward US supply chain independence [2][3]

Core Insights - Locksley Resources Limited has received a Letter of Interest (LOI) from the Export-Import Bank of the United States (EXIM) for potential project financing support of up to US$191 million for its Mojave Project in California [1][2] - The LOI signifies a strategic engagement with U.S. federal agencies, facilitating detailed due diligence and underwriting for a comprehensive financing package [2][3] - The company is focused on producing 100% American-made antimony ingots, demonstrating its capability to contribute to U.S. critical minerals supply chains [2][3] Company Developments - Locksley is accelerating the development of the Desert Antimony Mine through both conventional and non-traditional methods, aiming for near-term ore supply [2] - The company is collaborating with Rice University's Deep Solve™ program to establish U.S. refining capacity quickly [2] - Locksley is aligning its operations with U.S. defense, energy transition, and industrial partners to create an integrated supply chain for antimony [2][3] Industry Context - The LOI from EXIM reflects a broader U.S. government initiative to rebuild domestic critical minerals capabilities, with federal funding increasingly directed towards this sector [3] - Locksley Resources is actively advancing its Mojave Project, targeting rare earth elements (REEs) and antimony, and is implementing a mine-to-market strategy to reestablish domestic supply chains [3]

Core Insights - Electra Battery Materials Corporation has appointed Paolo Toscano as Vice President, Projects and Engineering to lead the construction of North America's first cobalt sulfate refinery in Ontario [1][2] Company Update - The company has decided not to proceed with a proposed reverse split of its common shares at this time, despite shareholder approval for a ratio of one post-split share for up to 3.5 pre-split shares [5][6] - Electra remains committed to enhancing its presence in U.S. capital markets and maintaining high standards of transparency and governance [5][6] Leadership and Experience - Paolo Toscano brings over 30 years of experience in leading large-scale mining and metals projects, with a strong background in technical excellence and operational discipline [2][3] - Toscano's previous roles include Senior Vice President at Marathon Gold and senior positions at Alamos Gold and Ausenco Engineering, where he successfully directed complex projects [3][4] Long-Term Incentive Plan - Electra has issued 2,669,000 incentive stock options, 179,000 restricted share units, and 271,000 deferred share units as part of its Long-Term Incentive Plan to retain and motivate high-performing personnel [7][8] - The options are exercisable for three years at a closing price of C$1.97 and will vest in two equal tranches [9] Strategic Focus - Electra is focused on constructing North America's only cobalt sulfate refinery to strengthen the critical minerals supply chain and reduce reliance on foreign sources [10] - The company is also exploring black mass recycling opportunities and evaluating growth in nickel refining and other battery materials [11]

Core Insights - Electra Battery Materials Corporation has initiated a new program to enhance mineral deposit modeling and feedstock integration at its Iron Creek cobalt-copper project in Idaho, aiming to support U.S. efforts to increase domestic critical mineral production and reduce reliance on foreign supply chains [1][2] Group 1: Company Developments - The financing for Electra's North American cobalt refinery has been completed, with construction set to resume, allowing the company to leverage its improved balance sheet for growth [2] - Electra is diversifying its feedstock base by sourcing domestic materials, with Idaho identified as a strategic location for cobalt and copper production, aligning with U.S. priorities for critical mineral independence [3] - A bench-scale lab program has been launched to evaluate cobalt feedstocks from various North American deposits, focusing on modifications to the existing refinery flowsheet to accommodate polymetallic sulfide concentrates [3][4] Group 2: Geological Research and Exploration - A new geological research program at Iron Creek is being conducted in collaboration with the Centre to Advance the Science of Exploration to Reclamation in Mining (CASERM), utilizing Short-Wave Infrared (SWIR) hyperspectral imaging to identify mineralization zones [4][5] - The program aims to refine the geological model and guide future drilling campaigns by mapping the margins of mineralized zones [5][6] - Electra holds 10-year exploration permits covering 91 designated drill pad locations across Iron Creek and Ruby, with plans for a drilling restart in spring 2026 based on findings from the new scanning program [9] Group 3: Strategic Vision - Electra's long-term strategy focuses on building a vertically integrated solution for domestic supply-chain resilience, including cobalt sulfate refining and potential nickel refining and battery recycling [11][15] - The company aims to create a continental supply chain that starts with American mining and ends with refined cobalt sulfate for battery production in North America [12]

Core Viewpoint - US Critical Metals Corp. (USCM) has amended its agreement to acquire a 100% interest in the McDermitt East Lithium Project, enhancing its position in the North American critical minerals sector and aligning with U.S. government priorities to reduce reliance on foreign supply chains [1][3]. Company Overview - USCM, through its subsidiary US Energy Metals Inc. (USEM), is focused on securing U.S. supply chains for critical metals and rare earth elements, with interests in multiple projects across the U.S. [11]. Project Details - The McDermitt East Lithium Project is located in the McDermitt Caldera, a significant lithium district in North America, which is home to some of the largest lithium deposits, including the Thacker Pass project [1][8]. - Previous sampling results at McDermitt East indicated lithium concentrations of up to 2,129 ppm, highlighting its potential as a vital lithium source [2]. Transaction Terms - Under the amended agreement, USCM will make an initial payment of C$25,000 and issue 1,283,000 common shares valued at $0.30 to acquire the first 50% interest, followed by a final payment to secure the remaining 50% [5][6]. - The agreement includes a 2% Net Smelter Return (NSR) royalty in favor of the original stakeholders, with an option for USCM to repurchase 1% of the NSR for CAD $1,000,000 [6]. Management Commentary - The CEO of USCM emphasized that this transaction marks a significant milestone, reinforcing the company's commitment to building a portfolio that supports U.S. supply chains and critical mineral independence [3].