Chalice Mining Conference Summary Company Overview - **Company**: Chalice Mining (OTCPK:CGML.F) - **Focus**: Discovery of a large-scale palladium, nickel, and copper resource near Perth, Australia, with significant quantities of gold, platinum, and cobalt [1][2] Key Financial Metrics - **Market Capitalization**: Approximately AUD 700 million [5] - **Cash and Investments**: AUD 71 million, funding the project to Final Investment Decision (FID) in early 2028 [3] - **Net Present Value (NPV)**: AUD 1.4 billion at base case prices, increasing by AUD 250 million for every $100 increase in palladium price [2][12] - **Internal Rate of Return (IRR)**: 23% at base case prices, currently around 38% at spot prices [7][12] - **Production Profile**: Expected to produce 220,000 ounces of precious metals and 16,000 tonnes of base metals annually, with a palladium equivalent of about 450,000 ounces [6] Project Development - **Mine Life**: Initial 23 years with potential for further resource extraction [6] - **Production Costs**: All-in sustaining cost of $370 per ounce, making it the lowest cost producer in the PGM space [7][19] - **Resource Size**: 660 million tonnes in an open pit, with 17 million ounces of contained PGMs [7][8] - **Reserve Conversion**: Approximately half of the resource is in proven and probable reserves [8] Market Dynamics - **Palladium Demand**: Strong demand driven by hybrid vehicle sales and electronics applications, with a significant market size of 9 million ounces per year [16][18] - **Geopolitical Factors**: U.S. tariffs on Russian palladium are expected to drive prices higher, as there are limited alternative sources [14][15] - **Supply Constraints**: South African and Russian producers are struggling to maintain production, leading to a potential supply crunch [19] Exploration and Future Opportunities - **Exploration Investment**: AUD 5-10 million allocated for grassroots exploration in the least explored western part of Yilgarn [3] - **Government Support**: Major and strategic project status from the government, with encouragement to expand the project [9] - **Funding Opportunities**: Anticipated low-cost financing and interest from export credit agencies for project funding [24] Metallurgical Advances - **Flow Sheet Development**: Successful development of a proven flow sheet for nickel and copper concentrates, overcoming previous challenges [21][22] - **Metallurgical Testing**: AUD 15 million spent on metallurgical test work, resulting in improved recovery rates [21] Conclusion - **Investment Opportunity**: Chalice Mining presents a compelling investment opportunity with significant upside potential as it approaches production, especially given the current undervaluation relative to spot NPV [4][12][25]

We recently published an article titled 11 Best Canadian Growth Stocks to Buy According to Hedge Funds. On February 9, TD Securities initiated coverage of Americas Gold and Silver Corporation (NYSE:USAS) with a Buy rating and a C$13 price target, citing management’s execution strategy to ramp silver production through operational enhancements at the Galena Complex in Idaho. The analyst noted that the company is applying a proven operational playbook to drive throughput and efficiency improvements. TD high ...

Frontier Lithium (OTCPK:LITO.F) Conference February 12, 2026 09:30 AM ET Company ParticipantsBora Ugurgel - Manager of Investor RelationsModeratorWelcome to Virtual Investor Conferences. On behalf of OTC Markets, we're very pleased you joined us for the third day of our Precious Metals and Critical Minerals Conference. The first presentation today is from Frontier Lithium. Please note, you may submit questions for the presenter in the box to the left of the slides, and you can view a company's availability ...

Core Thesis - Peabody Energy Corporation (BTU) presents a bullish investment case driven by undervalued core operations, critical minerals optionality, and a cyclical rebound in coal demand linked to AI-driven power needs [3][7] Financial Metrics - As of January 30th, BTU's share was trading at $35.26, with trailing and forward P/E ratios of 26.89 and 25.19 respectively [1] - The core business is expected to generate approximately $900 million of EBITDA by FY27, implying an equity value of around $30–35 per share [4] Coal Business Valuation - The Centurion metallurgical coal project is valued at approximately $1.5 billion, supported by peer transactions and prior third-party interest [3] - Management believes potential liabilities related to the Anglo transaction are manageable and will not materially affect earnings power [4] Critical Minerals Exposure - BTU has identified significant concentrations of rare earth elements and critical minerals within its Powder River Basin mines, which are a priority for the U.S. Department of Energy [5] - Management claims these concentrations are competitive with peers, positioning BTU as a favored domestic supplier with potential value estimated at roughly $25 per share [6] Market Dynamics - AI-driven electricity demand is increasing coal generation and improving plant utilization, with delays in gas-fired capacity leading to greater reliance on coal [7] - Higher natural gas prices and urgent power needs make Powder River Basin coal a cost-effective solution, potentially driving an additional ~$700 million of EBITDA and ~$25 per share in value [7]

Core Insights - IperionX Limited is advancing its titanium production capacity to 1,400 tons per annum (tpa) by 2027, supported by U.S. Department of War funding and strategic partnerships [2][4][6] Commercial Operations - Equipment for titanium powder production and component manufacturing has been fully commissioned at the Titanium Manufacturing Campus in Virginia [4] - Manufacturing capabilities are expanding, with new operational presses for producing titanium fasteners and components [4] - Sales agreements are progressing, including orders from Carver Pump and American Rheinmetall for military applications [4] Government Funding - IperionX has secured approximately US$75 million for its expansion, with US$47.1 million from the U.S. DoW's Industrial Base Analysis and Sustainment (IBAS) program fully obligated [4][7] - The company has received ~290 metric tons of titanium scrap metal from the U.S. Government, providing about 1.5 years of feedstock [8] Financial Position - As of December 31, 2025, IperionX reported a cash balance of US$65.8 million and has been awarded US$59.8 million in government grants, with US$13.3 million reimbursed to date [6][7] Project Development - The Titan Critical Minerals Project is a key asset in the U.S. critical mineral supply chain, addressing the heavy rare earth supply deficit [8] - A Definitive Feasibility Study for the Titan project is scheduled for delivery in mid-2026 [8]

Core Insights - The 21st century is being shaped by rare earths and critical minerals, which are essential for electric vehicles, wind turbines, solar panels, and military applications, with China controlling a significant portion of the supply chain [2][3] Company Summaries - **Rio Tinto**: A diversified mining conglomerate with a market cap of $180 billion, producing iron ore, aluminum, copper, and diamonds. It has maintained a 19% profit margin and generates $18 billion in EBITDA annually, with a forward P/E of 13x and a dividend yield of 4.3%. Revenue for the trailing twelve months reached $53.7 billion, and analysts target a price of $87, indicating a 12% upside [4][5] - **Vale**: A Brazilian company with a market cap of $69 billion, producing nickel and copper alongside iron ore. It has a profit margin of 14% and a dividend yield of 17%. Q3 2025 revenue was $10.4 billion, up 7% year over year, with a net income of $2.68 billion. The company faces risks from the 2019 Brumadinho dam disaster, which resulted in significant fines [6][7] - **Lithium Americas**: Currently not producing, but developing the Thacker Pass project in Nevada, the largest lithium deposit in the U.S. The company has a high beta of 3.5, indicating it is more volatile than the market. General Motors has invested in the project, and government support is present [8][9] - **MP Materials**: Operates the only significant rare earth mine in North America, reporting Q3 revenue of $53.6 million with a net loss of $41.8 million [9] - **Albemarle**: Survived a significant drop in lithium prices from $80,000 to $10,000 per ton, with margins collapsing from 42% to 1.6%, but recovering to 14.8% [9]

Group 1 - American Tungsten & Antimony is set to list on NASDAQ in Q2 2026, with Deutsche Bank facilitating the process, amid renewed interest in critical minerals due to Trump's initiatives [2] - West Wits Mining, an African-based gold explorer, is experiencing increased market interest and liquidity as gold prices approach US$5,000 per ounce due to geopolitical factors [3] - Nyrada Inc, a US-based biotech listed on ASX, has seen a remarkable 1280% increase over the past year, with a recent quarterly report contributing to a further 10% jump in share price [4] Group 2 - PLS Group is back in focus as lithium carbonate benchmarks rise to levels not seen since 2023, potentially leading to dividend payments [4] - Australian Strategic Materials is facing mixed reactions as Energy Fuels, a US-based uranium and critical minerals player, seeks to acquire the company at a premium, with board agreement [5] - Lumos Diagnostics has posted a significant 450% gain over the past year, making it a topic of ongoing discussion among investors [5]

Core Viewpoint - North American Niobium and Critical Minerals Corp. is initiating a Phase 2 exploration program to validate and refine target areas across its properties in Québec, utilizing a soil-gas radon survey and a low-impact backpack drilling method [1][3][10]. Planned Phase 2 Work Program - The exploration program will focus on the Blanchette and Bardy properties, employing a soil-gas radon survey alongside backpack drilling to validate radon anomalies linked to mineralization and refine target geometry [3][10]. - Following the work at Blanchette and Bardy, an additional approximately 10-day program is planned for the Seigneurie property, which will include soil-gas radon surveying, backpack drilling, and a high-resolution magnetic survey to further define and prioritize target areas [5][10]. Backpack Drilling Method - The backpack drilling method is a portable, low-impact, gas-powered technique designed for rapid follow-up sampling, minimizing surface disturbance while allowing for targeted sampling of overburden and bedrock [4][7]. - This method aligns with Québec's regulatory framework for exploration activities, ensuring compliance with the ATI permitting regime [4]. Company Overview - North American Niobium and Critical Minerals Corp. is focused on the acquisition and development of precious, base, and critical mineral assets, with properties that include exposure to rare earth elements, niobium, and nickel-copper occurrences [8].

Core Insights - Peabody's CEO Jim Grech has been appointed Chair of the National Coal Council, emphasizing the importance of coal in U.S. energy security and affordability [1][2] - U.S. coal-fueled generation increased by an estimated 13% in 2025, driven by extended coal plant lifespans and rising electricity demand from AI and data centers [2] - The National Coal Council advises the Secretary of Energy on coal-related policies, highlighting coal's affordability, reliability, and its role in steelmaking and critical minerals [3][4] Company Overview - Peabody is the largest coal producer in the U.S., operating eight thermal coal mines and one metallurgical coal mine domestically, along with five metallurgical coal mines and two seaborne thermal coal mines in Australia [6] - The North Antelope Rochelle Mine in Wyoming is the largest surface coal mine in the Western Hemisphere, producing 12% of U.S. coal [6] - Jim Grech, with over 35 years of experience in the coal and natural resources industry, has been with Peabody since 2021 and holds various board memberships [5]

Core Viewpoint - Atlas Critical Minerals Corporation has successfully closed an upsized public offering of 1,380,000 shares at a price of $8.00 per share, raising approximately $11.0 million in gross proceeds, which will be used to advance its critical minerals projects in Brazil and for general corporate purposes [1][2]. Group 1: Offering Details - The public offering included 180,000 shares from the full exercise of the underwriters' over-allotment option [1]. - The offering was underwritten by A.G.P./Alliance Global Partners and Bradesco BBI, who acted as book-running managers [2]. - The registration statement for the offering was declared effective on January 8, 2026, allowing the company to proceed with the offering [3]. Group 2: Company Background - Atlas Critical Minerals controls over 218,000 hectares of critical mineral rights in Brazil, focusing on rare earths, titanium, graphite, and uranium, which are essential for advanced technology, energy transition, and defense applications [5]. - The company commenced operations on its first iron ore project in November 2025, further diversifying its portfolio [5]. Group 3: Nasdaq Listing - The company received approval to list its common stock on the Nasdaq Capital Market, with trading commencing on January 9, 2026, under the ticker symbol "ATCX" [1]. - The Nasdaq uplisting is viewed as a significant milestone, enhancing the company's financial position and increasing liquidity and accessibility for a broader investor base [2].