On market conditions, Cataford described the quarter as “pretty flat” for key benchmarks and logistics. The P65 index averaged about $118 per tonne , a slight increase of roughly 1%, while the premium for P65 over P62 decreased slightly and C3 freight rose about 2%.During the Q&A, management also addressed a ship loader issue at the Port of Sept-Îles that lasted about four to five days . Cataford said it was “annoying” and likely prevented an additional vessel sale during the quarter, but indicated operatio ...

Core Viewpoint - Troilus Mining Corp. has made significant progress in 2025, achieving key technical, regulatory, organizational, and financing milestones for its Troilus copper-gold project, resulting in a 432% increase in share price over the year and setting a strong foundation for 2026 [2][4]. Development Progress - The company completed basic engineering and transitioned to detailed engineering, submitted its Environmental and Social Impact Assessment (ESIA) at federal and provincial levels, and improved geological confidence through targeted drilling [3][9][10]. - Troilus achieved zero lost-time incidents in 2025 and implemented a modern health and safety framework, enhancing data collection and risk analysis [13]. - The organization was strengthened with key senior appointments across various departments to align with project needs as it moves towards execution [12]. Financing and Commercial Arrangements - Troilus secured indicative expressions of interest totaling approximately US$1.3 billion from global export credit agencies, laying the groundwork for structured project financing [16]. - A senior project debt facility was mandated for up to US$1 billion, with comprehensive due diligence ongoing to finalize the debt package [17]. - The company negotiated preliminary long-term offtake terms with leading copper smelters, reflecting strong demand for responsibly sourced copper [18]. Recognition and Strategic Importance - Troilus was recognized as a project of strategic importance within the critical minerals ecosystem, participating in Canadian government trade missions to Germany, Japan, and South Korea [5]. - The company received the Québec Mineral Exploration Association's Entrepreneur of the Year award, highlighting its progress and execution throughout the year [6]. Outlook for 2026 - The company aims to transition from planning to early construction readiness, focusing on detailed engineering, permitting, financing arrangements, and organizational readiness [7][22]. - Troilus remains committed to responsible project development and operational excellence, with a focus on delivering long-term value for shareholders and stakeholders [23].

Core Insights - Volt Resources has signed a binding term sheet with Unbounded Opportunities Fund (UOF) to advance the Bunyu graphite mine project in Tanzania, which is strategically located with access to key infrastructure [1][2] - The Bunyu project is recognized as the largest JORC-compliant mineral resource in Tanzania and one of the largest graphite deposits globally [2] Investment Agreement - The agreement outlines a framework for a significant equity investment by UOF, which includes a conditional $11.1 million (CI$9.22 million) investment in Volt's subsidiary, Volt Graphite Tanzania (VGT) [2][3] - Upon financial close, UOF will acquire a 62% stake in VGT, while Volt will retain 38% [3] Project Development - UOF will update a feasibility study for the Bunyu graphite project, with a capital expenditure of $37 million, targeting an annual production of 40,000 tonnes of graphite concentrate at 94% total graphitic carbon (TGC) [3] - Operating costs are estimated at $450 per tonne, with UOF agreeing to cover any capital cost overruns without altering its equity position [3][4] Operational Management - UOF will manage the finalization of mining, engineering, procurement, construction, and operation contracts, while Volt will secure offtake agreements and oversee local coordination [4][5] - The companies have a four-month period to meet conditions and finalize definitive documentation, or the term sheet will terminate [5] Strategic Importance - Volt's executive chairman highlighted the significance of this partnership for securing equity funding and project management support to facilitate the Bunyu graphite project's development [6] - UOF aims to address funding challenges due to low graphite prices by increasing annual concentrate production rates and achieving lower unit operating costs compared to the 2023 feasibility study [7]

Caledonia Mining is set to advance with the development of the Bilboes gold project in Zimbabwe following the completion and publication of its feasibility study. The study confirmed a single-phase development method as the most economic option for the project. The project area spans 2,731.60 hectares (ha) in Matabeleland North province, located approximately 80km north of Bulawayo, Zimbabwe’s second-largest city. The study shows proven and probable mineral reserves of 1.75 million ounces (moz) of gold ...

Core Insights - NorthWest Copper Corp. announced positive assay results from drill hole K-25-278 at the Kwanika project, confirming near-surface copper-gold mineralization with significant intercepts [1][2][5] Drill Hole Highlights - Drill hole K-25-278 intersected two broad zones of mineralization: - Pit Zone: 80 metres of 0.59% Cu and 0.16 g/t Au (0.75% CuEq) from 47 metres, and 44 metres of 0.62% Cu and 0.42 g/t Au (1.01% CuEq) from 172 metres [3][16] - Central Zone: 36 metres of 0.65% Cu and 0.64 g/t Au (1.25% CuEq) from 222 metres, including 10 metres of 0.79% Cu and 0.77 g/t Au (1.50% CuEq) from 222 metres [3][16] Geological Insights - The results indicate an east-west lateral metal zonation trend, with gold to copper ratios approaching 1:1, providing insights into potential metallurgical recoveries [4][6] - The upper Central Zone was intersected closer to the surface than expected, suggesting a change in geometry as it approaches higher-grade areas [2][6] Future Exploration Plans - The 2025 drill program totals 6,435 metres, focusing on defining higher-grade zones and evaluating underground targets for selective mining methods [5][9] - The company expects to release additional results from the remaining thirteen holes in the coming weeks [5][9] Management Commentary - The CEO of NorthWest highlighted the potential for a high-grade starter pit that could enhance project economics, emphasizing the strong and consistent higher-grade mineralization observed [5][6]

Summary of Minerals 260 (MI6) Conference Call - July 23, 2025 Company Overview - Minerals 260 was spun out of Linetown three years ago, with significant influence from Linetown's management and shareholders [2][4] - The company is focused on the Bulle Bulle Gold Project, acquired from Zijin for $166 million, despite being a $30 million company at the time [2][3][12] Key Financials and Shareholder Structure - Raised $220 million, significantly increasing market capitalization [3] - Major shareholders include Samuel Terry and Tim Goiter, with the top 20 shareholders holding 65% of the company [4][5] - BlackRock and Franklin Templeton are among the notable international funds invested [5] Project Details - The Bulle Bulle Gold Project is one of the largest undeveloped gold projects in Australia, with a resource of 2.3 million ounces [12] - Historical mining occurred in the 1990s, with the project previously owned by Zijin for a decade [8][9] - The project covers 130 square kilometers, with ongoing tenure acquisition to enhance mineralization and infrastructure [10] Exploration and Drilling Activities - The company is currently drilling with six rigs, aiming to add 80,000 meters to the existing drilling database [12][23] - Historical drilling was shallow, with 60% of holes at 50 meters or less, indicating potential for deeper mineralization [13][14] - The exploration plan includes drilling down dip, infilling, and along strike, with a focus on the Phoenix and Bacchus areas [19][20] Resource Assessment - 60% of the resource is classified as indicated, with confidence in the resource due to dense drilling [17] - The current model pit has a cutoff of AUD 3,000, providing operational headroom with gold prices above AUD 5,000 [21] - The company has observed significant intercepts, including 62 meters at resource grade, indicating strong potential for resource expansion [25][26] Development and Infrastructure - The company aims to achieve production by the end of 2028, with feasibility studies and geotechnical data already in progress [29] - Water rights have been secured across the main paleo channel, with additional plans for water sourcing [32] - The project benefits from excellent infrastructure, including proximity to Kalgoorlie Airport and major highways [14][15] Future Outlook - The company plans to complete 80,000 meters of drilling by September, with a new resource estimate expected by December [33] - The first production is targeted for 2028, with a strong foundation in place due to capital and shareholder support [34][35] Conclusion - Minerals 260 presents a significant investment opportunity with a large resource base, ongoing exploration, and a clear path to production by 2028 [34][35]

Core Viewpoint - Southern Cross Gold Consolidated Ltd has announced an upsized private placement of approximately C$143 million/AUD$162 million to fund its strategic Sunday Creek Gold-Antimony Project, reflecting strong demand from institutional and existing investors [1][3][8]. Proposed Placement - The company aims to raise approximately C$143 million through a private placement of 31.8 million common shares at C$4.50 per share and/or Chess Depositary Interests (CDIs) at A$5.10 per CDI [3][4]. - The placement will not require shareholder approval and will be conducted under the company's placement capacity according to ASX listing rules [4]. Pricing and Discounts - The issue price for the CDIs represents an approximate 8.9% discount to the last closing price on April 28, 2025, and an 8.3% discount to the 5-day volume weighted average price prior to a trading halt [5]. - The issue price for the Common Shares represents a 4.1% discount to the last closing price on April 29, 2025, and a 5.0% discount to the 5-day volume weighted average price prior to the trading halt [6]. Timeline and Conditions - The issuance of the Securities is expected to occur in two tranches: Tranche 1 on May 6, 2025, for CDIs and Tranche 2 on May 14, 2025, for the remaining Common Shares [7]. - All Securities will be subject to a four-month hold period from the closing date [7]. Use of Funds - The net proceeds from the placement will be allocated to key milestones for the Sunday Creek Gold-Antimony Project, including: - C$53 million for drilling to establish an Inferred Resource by Q1 2027 - C$27 million for decline development to enhance access to mineralization - C$4 million for a Preliminary Economic Assessment - C$59 million for exploration target expansion and working capital over three years [8][18]. Strategic Importance - The Sunday Creek project is positioned as a significant gold and antimony discovery, with antimony contributing 20% of the in-situ value, which has gained importance due to geopolitical factors affecting supply [16][17]. - The project is expected to be developed primarily based on gold economics, reducing risks associated with antimony while maintaining strategic supply potential [17].