Join our daily newsletter At The Bell to receive exclusive market insightsStockhouse’s Lyndsay Malchuk sits down with Lewis Black, CEO of Almonty Industries (ASX:AII for an exclusive interview about the future of tungsten and its vital importance in global defence, aerospace, and technology.Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.This content has been prepared as part of a partnership with Almont ...

MONTREAL, Sept. 30, 2025 (GLOBE NEWSWIRE) -- Volatus Aerospace Inc. (TSXV: FLT) (OTCQB: TAKOF) (FSE: ABB.F), a Canadian leader in aerial intelligence and unmanned aircraft systems, and VoltaXplore Inc., a high-performance lithium-ion battery manufacturer and subsidiary of NanoXplore Inc. (TSX: GRA) (OTCQX: NNXPF), are pleased to announce the signing of a Letter of Intent (the “LOI”) for the future supply of Canadian-made lithium-ion battery cells to power Volatus’ next-generation drones. This strategic agre ...

Company Insights - CarMax reported a significant decline, hitting a new 5-year low after missing second quarter earnings estimates, with retail used car sales down 5% year-over-year and auto financing income falling over 10% in the quarter [2][3] - CarMax announced a $150 million cost-cutting plan over the next 18 months, which contributed to a more than 20% drop in its shares at the close [3] - Oracle's stock closed down about 5.5% after receiving a sell rating from Rothschild and Redburn, which initiated coverage with a $175 price target, citing overestimation of contracted cloud revenues [4][5] Industry Trends - The energy sector is experiencing a rally, even as crude prices fell from a 7-week high, with speculation linking this to AI traders [6] - Copper prices are rising due to supply disruptions from Freeport MacMoran's mine suspension in Indonesia, which could impact input prices for new homes and create margin pressure for home builders [7][8] - Lithium Americas saw a nearly 100% gain recently, with a further 20% increase, as the U.S. is potentially taking a stake to secure supply chains and reduce reliance on China [8] Economic Indicators - The upcoming PCE report is crucial, with expectations for core PCE to increase to 2.9%, the highest level in 5 months, which may influence the Federal Reserve's decisions in the October meetings [9][10] - There is ongoing discussion about the impact of tariffs on inflation, with some retailers absorbing costs, while others may pass them through to consumers [12][13]

Core Viewpoint - The US Defense Logistics Agency (DLA) plans to purchase up to $40 million worth of scandium oxide from Rio Tinto over the next five years to enhance the US defense stockpile, aiming to secure a stable supply of this critical rare earth element following China's export controls [1][3]. Group 1: Acquisition Details - The DLA intends to acquire 6.4 tonnes of scandium oxide over five years, starting with nearly 2 tonnes in the first year, which represents about 5% of the global scandium oxide production of 40 tonnes last year [2]. - The current production capacity for scandium oxide is 80 tonnes, indicating a significant reliance on global supply chains [2]. Group 2: Supply Chain Context - China's export controls on scandium, imposed in late 2024, have constrained the supply chain, prompting the DLA's acquisition strategy for the National Defence Stockpile [3]. - Rio Tinto has been identified as the only vendor capable of meeting the government's product needs at the required capacity [3]. Group 3: Domestic Production Efforts - Rio Tinto is collaborating with the US Government to identify opportunities to increase domestic production and strengthen supply chains for the US market [4]. - In August, the US awarded up to $10 million to Elk Creek Resources to bolster domestic sources, highlighting ongoing efforts to reduce reliance on foreign materials [4]. Group 4: Technological Advancements - Rio Tinto achieved a breakthrough in 2020 by developing a method to extract high-purity scandium oxide from waste streams during titanium dioxide production, which eliminates the need for additional mining [5]. - The Canadian facility in Quebec has an annual production capacity of 3 tonnes of scandium oxide, indicating potential for increased domestic supply [5]. Group 5: Financial Implications - Rio Tinto announced gross costs of up to $300 million due to US tariffs on its primary aluminium exports from Canada during the first half of 2025, which may impact its financial performance [6].

Group 1 - The United States is launching a $5 billion fund to secure supplies of critical minerals, in partnership with Orion Resource Partners, with both parties committing at least $600 million [1][5] - The DFC has become central to U.S. efforts to support strategic investments overseas, aiming to reduce dependence on Chinese supply chains [3][7] - The urgency of the initiative is driven by immediate concerns over China's dominance in processing key minerals and long-term forecasts indicating shortages due to underinvestment and slow permitting [7][8] Group 2 - Notable past deals by the DFC include a $150 million loan to Syrah Resources for a graphite mine in Mozambique and $550 million for upgrades to the Lobito Corridor rail line in central Africa [4] - Orion Resource Partners, managing about $8 billion in assets, is actively financing mining projects across various metals, indicating a strong position in the industry [5][6] - Washington is increasing its involvement in critical minerals through multiple agencies, including a recent $67 million financing interest from the Export-Import Bank for a scandium project in Australia [9]

Core Viewpoint - Envirotech Vehicles, Inc. has achieved a significant milestone by delivering over 5 million isolation gowns to the U.S. government as part of a larger contract for 35 million gowns, indicating strong performance and potential for future growth in supply chain security [1] Group 1 - The company, along with its subsidiary Maddox Industries, has successfully manufactured and delivered over 5 million isolation gowns [1] - The Gown Contract totals 35 million gowns, with 19 months remaining for completion [1] - There is an expectation that the Gown Contract will be extended, which may further enhance America's supply chain security [1]

Financing and Project Development - Sunshine Silver Mining & Refining has closed a $75 million equity financing round, enabling the company to pursue large-scale production without incurring debt [1] - The proceeds from this financing will accelerate the project's next phase of development, with production targeted for 2028 [4] Project Overview - The Sunshine project is set to be the only fully integrated, permitted, and infrastructure-ready operation in the US for producing and processing silver, antimony, copper, gallium, and germanium [2] - The project is expected to boost annual silver output in the US by more than 20% in its first five years [2] Strategic Positioning - Sunshine Silver is uniquely positioned to become a major US hub for critical minerals mining and processing, with over $600 million in existing infrastructure and approximately $250 million invested in exploration and development since Electrum's acquisition [3] - The project aligns with US Government initiatives to enhance domestic mineral production and supply chain security, as outlined in the Executive Order of 20 March 2025 [3] Refinery Capabilities - The refinery component of the Sunshine project is authorized to process multiple critical minerals and will also be capable of processing third-party concentrates [4] - Projections indicate that by 2028, the refinery could meet around 40% of the US' annual antimony demand, potentially increasing to 80% by 2031 [5] Collaboration and Supply Chain - Sunshine Silver has signed a memorandum of understanding with Perpetua Resources to evaluate processing antimony from Perpetua's Stibnite project at the Sunshine Mine Complex, aimed at bolstering the US antimony supply chain amidst trade tensions with China [6]

Core Viewpoint - Titan Mining Corporation announced positive results from independent testing of natural flake graphite from its Kilbourne graphite project, indicating the potential for multiple high-value product streams and supporting the company's strategy for diversified revenue opportunities across various industries [1][3]. Group 1: Key Results and Commercial Applications - The testing confirmed that Kilbourne graphite can be processed into high-purity products necessary for critical applications in aerospace, batteries, industrial, and defense sectors [3]. - Titan's ability to produce spherical, micronized, and purified graphite products enhances its market reach, serving sectors from energy storage to defense applications [3][7]. - The results contribute to U.S. supply chain security by reducing reliance on foreign graphite sources [3]. Group 2: Demonstration Facility Advancing - Construction of the graphite demonstration facility in St. Lawrence County is progressing, with approximately 70% of the equipment delivered and installation underway, expected to be commissioned in Q4 2025 [4]. - The facility will validate the downstream flowsheet at scale and provide bulk product samples for customer qualification across several sectors, including battery, industrial, and defense [4]. Group 3: Next Steps - Titan plans to continue downstream optimization and initiate electrochemical performance testing of its spherical graphite [5]. - Bulk samples from the demonstration facility are anticipated to be available for customer qualification and offtake discussions in late 2025 [5]. Group 4: Technical Summary - The Kilbourne graphite products achieved high purity levels, with spherical graphite reaching 99.99% purity, confirming its suitability as anode material for lithium-ion batteries [6][7]. - Micronized and purified products exceeded 99.9% purity, meeting specifications for various industrial applications [7]. - Ultra-high purities and processing flexibility support potential qualification for military-specification materials, applicable in thermal management and defense-grade energy storage [7].

Summary of Ivanhoe Electric's Santa Cruz Copper Project Update Company Overview - **Company**: Ivanhoe Electric (IE) - **Project**: Santa Cruz Copper Project - **Location**: Arizona, USA - **Date of Call**: June 23, 2025 Industry Context - The copper mining industry is facing challenges related to supply chain security and national resource independence in the United States - The project aims to address the shortage of modern copper smelters in the U.S. and produce refined copper on-site with minimal environmental impact [4][6][7] Key Points and Arguments 1. **Project Timeline and Development**: - The Santa Cruz project has been in development for approximately 8-9 years and is expected to take about 12-15 years to reach full production [5][20] - The project is designed to produce copper cathode on-site using heap leach technology, which minimizes environmental impacts compared to traditional smelting [7][30] 2. **Economic Viability**: - At a copper price of $4.83 per pound, the project has an after-tax net present value (NPV) of $1.9 billion and an internal rate of return (IRR) of 24% [20] - The project is projected to generate $5 billion in life-of-mine after-tax free cash flow with a payback period of approximately 4.5 years at a $4.25 copper price [21] 3. **Production Capacity**: - The project aims for an average mining rate of 20,000 tons per day and expects to achieve 92% copper recoveries [20] - Average annual copper cathode production during the first 15 years is estimated at 72,000 tons [21] 4. **Resource Estimates**: - The project has defined 136 million tons of probable reserves with an average grade of 1.08% total copper [26] - Significant additional mineral resources exist, indicating potential for future expansion [38] 5. **Infrastructure and Location**: - The project benefits from excellent access to existing infrastructure, including proximity to major highways, rail, and power lines [24] - The location in Arizona provides access to a skilled workforce and a historical context of mining [25] 6. **Environmental Considerations**: - The project is designed to have a small surface footprint and includes plans for an integrated solar and battery storage facility to supply 70% of the mine's electricity demand [25] 7. **Permitting and Regulatory Support**: - The company is actively working on obtaining necessary permits, with strong relationships established with local and state authorities [36] - A letter of support has been received from the U.S. Export-Import Bank, indicating governmental backing for the project [11][43] 8. **Financing Strategy**: - The company is in discussions with various financing institutions and has received a letter of interest for up to $825 million in project debt [43] - The financing strategy includes a combination of structured debt and potential strategic partnerships [44] Additional Important Information - The project is positioned as a critical contributor to U.S. copper supply, addressing both domestic demand and national security concerns [9][10] - The management team has extensive experience in mining finance and operations, enhancing the project's credibility [45] - The company is also pursuing other critical metals exploration projects, indicating a diversified approach to resource development [48] This summary encapsulates the key aspects of Ivanhoe Electric's Santa Cruz Copper Project as discussed in the conference call, highlighting its economic potential, strategic importance, and operational plans.

Summary of 5E Advanced Materials (FEAM) Conference Call Company Overview - **Company**: 5E Advanced Materials (Ticker: FEAM) - **CEO**: Paul Wiebel, who has been with the company for four years and in the CEO role for one year [3][4] Industry Insights - **Material Focus**: Boron, identified as a critical material with applications in defense, electronics, and construction [5][6] - **Market Position**: The boron market is characterized as a global oligopoly, with significant supply chain security concerns due to geopolitical factors [7] - **Supply Dynamics**: Current supply of boron is in a deficit, with only six known boron projects globally, and only two of those have permits [19][70] Project Details - **Location**: The boron project is situated between Las Vegas and Los Angeles, with a permitted capacity of 90,000 tons of boron oxide [8][12] - **Production Plans**: Initial phase targeting 30,000 tons of boric acid production, with a projected EBITDA run rate of $100 million [9][22] - **Mining Method**: Utilizes a solution mining method that is more environmentally sustainable compared to traditional open-pit mining [15][17] Financial Projections - **Cost Structure**: Targeting an operating cost of $525 per ton, with boron prices currently around $1,000 to $1,300 per ton [18][21] - **Investment Requirements**: Estimated capital expenditure for the project is between $420 million to $430 million, with plans for debt financing [23][24] - **IRR**: Projected internal rate of return (IRR) for phase one is around 20% [25] Strategic Goals - **Upcoming Milestones**: Focus on delivering a Pre-Feasibility Study (PFS) and securing offtake agreements, which are critical for debt financing [26][45] - **Market Engagement**: Emphasis on public market engagement to build investor confidence and secure necessary funding [63] Challenges and Considerations - **Offtake Agreements**: Essential for securing debt financing; challenges exist in negotiating fixed-price agreements with potential buyers [46][48] - **Capital Structure**: The company has restructured its capital, with a clean balance sheet and no current debt, but convertible notes previously posed challenges [55][59] Conclusion - **Investment Proposition**: 5E Advanced Materials presents a compelling opportunity in the boron market, with strong fundamentals supporting supply and demand dynamics, and a clear path to commercial production [74]