RC Fornax PLC (AIM:RCFX) says it’s well placed as the UK reshapes defence spending. It’s bidding across seven frameworks and has three major agreements in advanced talks. The group joined Aurora’s Evolve network in January and won a UK public sector space contract. A December fundraise added £2.1 million, with £4.5 million in firm FY26 sales visibility. Blencowe Resources PLC (LSE:BRES) reported more thick, near-surface graphite hits at the Iyan deposit in Uganda. A maiden JORC resource is now expected i ...

 Vancouver, BC and Montreal, QC – TheNewswire - February 23, 2026 – First Canadian Graphite Inc. (TSX.V: FCI | Frankfurt: BR2 | OTC: GBMIF) (“First Canadian”, “FCI” or the “Company”), a dynamic junior mining company focused on advancing high-grade graphite projects in Quebec to meet the growing demand for onshore sourced critical minerals, is pleased to announce the appointment of Mr. John LaGourgue as Chief Executive Officer and member of the Board of Directors, effective immediately.Mr. LaGourgue brings ...

Core Viewpoint - Betolar has partnered with GTK and EcoGraf to explore the use of mine tailings from the Epanko graphite project in Tanzania for metal recovery and low-carbon cement production, promoting a circular economy in mining and construction industries [1][2][4]. Group 1: Partnership and Objectives - The partnership is based on a memorandum of understanding (MoU) to evaluate the feasibility of using graphite project tailings in circular economy material solutions [2]. - EcoGraf is advancing the TanzGraphite initiative to supply feedstock for battery anode material processing and high-quality graphite for industrial applications [2]. Group 2: Tailings and Technology - The Epanko project is expected to generate approximately 900,000 tonnes per annum (tpa) of tailings over the first decade [3]. - The collaboration will investigate the effectiveness of Betolar's metal extraction technology, which has shown recovery rates of up to 99% for critical metals [3][4]. Group 3: Sustainability and Circular Economy - The process aims to produce low-carbon cement, providing a sustainable alternative to traditional construction materials and contributing to emission reductions [4][5]. - This initiative supports the transition towards a circular economy by converting mine tailings into valuable resources, aligning with EU and Finland's resource efficiency goals [5]. Group 4: Industry Impact - The partnership highlights the growing interest in sustainable mining practices globally, particularly in Africa, as companies seek to transform waste into new value [6].

Core Viewpoint - Global Li-Ion Graphite Corp. welcomes the lifting of a 16-year suspension on mining permits in Madagascar, which is expected to boost foreign investment in mining projects, including its Ambato-Arana Graphite mine [1][4]. Company Updates - The new permit system in Madagascar will involve licenses for small-scale operators, competitive tenders for industrial projects, and the Mining Brigade's involvement in application reviews [2]. - The Ambato-Arana Graphite mine project consists of three forty-year renewable mining licenses covering 4,375 hectares (10,811 acres) located near key infrastructure, including a large-scale nickel/cobalt mine [4]. - Historical production of graphite occurred on the licenses for about a century, but was suspended due to market conditions; the deposits are now ready for modern exploitation techniques [4]. Industry Context - Madagascar is rich in strategic minerals such as nickel, cobalt, and graphite, which are crucial for the global energy transition [3]. - As of 2023, there were 1,650 mining permits pending approval in Madagascar, indicating significant potential for future mining activities [3].

Core Viewpoint - Titan Mining Corporation reported record zinc production for 2025 and provided production, cost, and capital expenditure guidance for 2026, emphasizing a focus on high-quality ore bodies and sustainable value creation [1][4]. Production Highlights - The company achieved a record zinc production of 64.2 million payable pounds in 2025, an increase of 8% from 2024, and met its full-year production guidance [2][10]. - In Q4 2025, the output was 18.7 million pounds, reflecting a 28% sequential increase [10]. - The production guidance for 2026 is set between 62 to 66 million payable pounds, with a focus on development and access to higher-quality ore [10][13]. Cost and Capital Expenditure Guidance - The estimated C1 Cash Cost for 2026 is between $0.93 and $1.01 per payable pound, while the All-In Sustaining Cost (AISC) is projected to be between $1.07 and $1.17 per payable pound [13][14]. - Sustaining capital expenditures are expected to be between $8.5 million and $8.9 million, with exploration capital expenditures estimated at $3.5 million to $3.9 million [14]. Operational Review - Mining operations in Q4 2025 focused on high-grade areas, contributing to improved mill feed grades and achieving full-year production guidance [7]. - The N2D zone mining was temporarily suspended to prioritize higher-grade areas, with plans for reactivation in 2026 [8]. - New mobile equipment was introduced to enhance underground development and production capacity, contributing to stronger performance in Q4 [8]. Graphite Production Update - The company commenced graphite production at the Kilbourne facility, marking the first U.S. natural flake graphite processing plant in over 70 years [11][12]. - The current operating capacity of the facility is approximately 1,200 tonnes per year, with potential to ramp up to 2,500 tonnes per year [12].

Industry Overview - Small-cap and penny stocks are experiencing a notable rally, with the Russell 2000 index up by over 5%, significantly outperforming the S&P 500, which is up by only 1.7% [1] - The rally is driven by expectations of market-beating results from these companies, which are trading at discounted valuations [1][2] - The Federal Reserve's anticipated monetary policy easing is further supporting the case for investing in penny and small-cap stocks [2] January Effect - The January effect is benefiting small-cap companies as investors are buying smaller stocks, particularly those that faced tax-loss selling in the previous quarter [3] - The Russell 2000 index has shown strong performance in January, suggesting potential continued strength into February [3] Fundamentals and Valuations - Fundamentals for small-cap companies are improving, with their 1-year price-to-earnings multiples being 30% lower than those of large-cap companies [4] - Small caps have shown earnings growth that slightly exceeded larger companies for the first time in thirteen quarters [4] Seasonal Trends - Historically, small caps perform better in midterm election years, averaging a 1.3% advance in February compared to the S&P 500's average of 0.3% [5] - Current seasonal patterns indicate a hawkish bias towards interest rates, favoring small-cap stocks [5] Investment Opportunities - The S&P SmallCap 600 index is already up by more than 5% for the year, indicating a favorable environment for investing in penny stocks trading under $5 [6] - A list of 14 NYSE penny stocks has been compiled based on popularity among hedge funds and potential upside of over 30% [8][9] Company Highlights - **Nouveau Monde Graphite Inc. (NYSE:NMG)**: Current share price is $2.09 with an upside potential of 107.33%. The company has a net asset value of $919 million or $3.51 per share, factoring in a cash balance of $68.8 million and debt of $11.6 million [11][12]. It has signed a 7-year off-take agreement with the Canadian government for 30,000 tons per annum of graphite concentrate [13][14]. - **Auna SA (NYSE:AUNA)**: Current share price is $4.76 with an upside potential of 53.36%. Analysts expect significant growth due to a $500 million expansion in Mexico and a strategic partnership with Sojitz [15][16][17]. The company operates a vertically integrated network of healthcare facilities in Latin America, focusing on high-complexity care [18].

Core Viewpoint - Northern Graphite's decision to build a $200-million battery material plant in Saudi Arabia highlights the need for Canadian and French governments to provide incentives to retain similar projects domestically [1][3]. Group 1: Project Details - Northern Graphite has partnered with Al Obeikan Group for Investment to construct and operate the facility in Saudi Arabia, with construction expected to begin in the second half of the year after a feasibility study [2]. - The Saudi plant will have an initial capacity of 25,000 tonnes per year, with supply sourced from the Okanjande mine in Namibia, which is expected to start producing graphite concentrate in 2028 [5][7]. - The restart of the Okanjande mine is projected to cost approximately $35 million, with an expected annual output of 31,000 tonnes over a 10-year lifespan [8]. Group 2: Strategic Implications - The Saudi venture is prioritized over previously planned projects in Canada and France, emphasizing the urgency for those regions to enhance their competitive landscape [3][4]. - The partnership aligns with Saudi Arabia's Vision 2030, focusing on reducing oil dependency and advancing manufacturing and energy transition technologies [10][11]. - The Saudi government is expected to fund 50-75% of the project through the Saudi Industrial Development Fund, facilitating rapid progress due to short permitting timelines [12]. Group 3: Market Positioning - Northern Graphite aims to establish a fully integrated supply chain between Namibia and Saudi Arabia, positioning itself as a first mover in the market for graphite anode materials, crucial for lithium-ion batteries [6][7]. - Negotiations for a long-term offtake agreement for 25,000 tonnes per year with global battery manufacturers are well advanced, indicating strong market demand [7].

Core Viewpoint - Focus Graphite Inc. has received allowance for its Canadian patent application related to advanced anode materials, which is expected to enhance lithium-ion battery performance and support domestic manufacturing in North America [1][2][5]. Patent Details - The Canadian Intellectual Property Office has completed its examination and determined that the patent claims meet all requirements for patentability, including novelty and inventiveness [2]. - The allowed patent covers proprietary processes for silicon-enhanced, spheroidal graphite particles aimed at improving energy density, charge efficiency, and cycling stability in lithium-ion battery anodes [2][3]. Technological Innovations - The technology addresses challenges such as charge-induced volume expansion and solid electrolyte interphase instability by embedding silicon within a graphite matrix [3]. - This approach is expected to enhance mechanical integrity and cycling stability, thereby improving battery longevity [3]. Market Applications - The performance attributes of the advanced anode materials are relevant not only for commercial battery markets but also for dual-use applications in defence, aerospace, and mission-critical systems [4]. - The strategic importance of these materials is underscored by their role in supporting energy security and domestic manufacturing in North America [5]. Company Strategy - Focus Graphite is advancing its graphite assets and technology initiatives to support North American battery and energy storage markets while building a differentiated portfolio [6]. - The company aims to secure a resilient, locally sourced supply of critical minerals, reducing dependence on foreign-controlled markets [12]. Leadership and Contributions - The patent's allowance is attributed to years of research and development, significantly influenced by Dr. Joseph Doninger, who recently passed away [5][7]. - Dr. Doninger's expertise in materials science and his contributions to the company's technology strategy are acknowledged as foundational to the patent's success [9].

Group 1 - Syrah Resources has agreed with Tesla to extend the deadline for the third time regarding an alleged breach of their graphite supply agreement [1]

Core Insights - Focus Graphite Inc. has developed a novel, low-cost AI-enabled in situ graphite flake size characterization technology, which has been integrated into the geometallurgical model of the Lac Tetepisca Graphite Project in Quebec [1][3][4] Technology Overview - The new technology allows for high-resolution mapping of graphite flake size distribution directly from conventional drill core material, eliminating the need for extensive bulk metallurgical testing [3][5] - This advancement enhances resource valuation, mine planning, and production strategies by providing better visibility into the spatial distribution of flake sizes [3][5] - The technology utilizes AI-based RGB image analysis on high-resolution optical microscopy images of graphite flakes, offering a scalable and repeatable approach to flake size characterization [6][10] Preliminary Findings - Initial results indicate an inverse relationship between graphite grade and flake size, suggesting that lower-grade zones contain a higher proportion of jumbo flakes [8][10] - These findings may lead to a lower cut-off grade for the upcoming mineral resource estimate (MRE), potentially improving project economics [8][10] Project Updates - Results from the new technology will be incorporated into the upcoming MRE update for the Manicouagan-Ouest Graphitic Corridor (MOGC) deposit, expected in late Q1 2026 [3][19] - Approximately 300 samples are currently being processed to populate the geometallurgical model for the MOGC deposit [7][19] Operational and ESG Implications - Improved spatial mapping of flake size distribution allows for more selective mining and better alignment of production with customer specifications, reducing inventory requirements and process costs [11][13] - The technology supports environmentally sustainable mining practices by optimizing resource use and minimizing waste [12][13] Company Background - Focus Graphite is focused on redefining the future of critical minerals with two 100% owned graphite projects, including the advanced Lac Knife project and the promising Lac Tetepisca project [22][23] - The company is committed to environmentally sustainable processing solutions and innovative battery technologies, aiming to secure a locally sourced supply of critical minerals [24]