Core Insights - US Critical Metals Corp. (USCM) has achieved significant corporate milestones in 2025 and is outlining its operational focus for 2026, particularly at the McDermitt East Lithium Project in Nevada [1][3]. Group 1: 2025 Key Milestones - USCM made material progress in aligning with its strategic objectives, including securing a clear path to acquire a 100% interest in McDermitt East and completing the acquisition of the Clayton Ridge Lithium Project [3][6]. - The company reported strong uranium-vanadium grades at the Long Canyon Uranium and Vanadium Project, indicating multiple mineralizing styles and a significant prospective trend [6]. - USCM closed a private placement financing of $510,000 to support corporate development and its U.S. critical minerals portfolio [6]. Group 2: 2026 Exploration Focus - The exploration strategy for 2026 at McDermitt East includes geological mapping and surface sampling to refine drill targets, building on previous exploration results that showed lithium values up to 2,129 ppm [8][9]. - The initial field program aims to enhance geological understanding and guide efficient drill target definition, with plans for a maiden drill program in 2026 [9]. Group 3: Strategic Positioning - USCM's strategy emphasizes U.S.-based critical mineral assets to support supply chain resilience, particularly as North American lithium projects advance [2]. - The McDermitt East project is strategically located near the Thacker Pass lithium project, which is expected to commence production in 2027, highlighting the growing importance of U.S. lithium supply [5][10]. - The company believes it is well-positioned to capitalize on a more favorable lithium market, supported by U.S. government initiatives for domestic lithium supply [10].

Group 1 - The company is focused on transitioning the Bandeira Project into construction by completing key steps such as advancing the permitting process and finalizing project financing strategies [1] - Key priorities include progressing offtake discussions to final terms and completing detailed engineering, alongside preparing for construction readiness through pre-development activities [1] - The initiatives represent the final phase of de-risking for the Bandeira Project, positioning the company as a near-term, low-cost lithium producer in Brazil's Lithium Valley [1] Group 2 - The company has terminated the option agreement with K2 Mineracao e Exportacao EIRELI and others, which covered certain mineral claims in Brazil [1] - The termination reflects the company's focus on disciplined capital allocation and prioritizing its most advanced and value-accretive assets [1] - The company has divested its minority interests in special purpose companies associated with the terminated K2 Option Agreement, completing its withdrawal from the transaction [1]

Core Insights - Li-FT Power Ltd. has reported results from its 2025 work program at the Yellowknife Lithium Project, indicating ongoing exploration and resource delineation efforts in the Northwest Territories [1] Summary by Sections Work Program Overview - The 2025 work program included 18 drill holes totaling 3,171 meters, with six holes (2,378 m) for resource delineation, three holes (546 m) for geotechnical studies, and nine groundwater monitoring wells totaling 247 m [2] Results Discussion - Five of the six resource delineation holes were drilled on the Shorty pegmatite, totaling 1,868 m, along with three groundwater wells [3] - The Shorty pegmatite corridor is at least 1.4 km long and up to 100 m wide, consisting of both country rock and pegmatite [7] - Notable drill results include YLP-0290, which intersected a pegmatite dyke assaying 1.24% Li₂O over 13 m, and YLP-0295, which returned 1.56% Li₂O over 26 m [9][10][12] Groundwater Monitoring - Groundwater well YLP-0295 was drilled within the Shorty pegmatite and returned significant lithium assays, indicating the presence of spodumene [10] General Observations - The true thickness of reported intercepts is estimated to be between 65-100% of the drilled widths for the resource holes, while the groundwater well's true thickness is approximately 35-65% of the drilled width [13] - Visual core logging and mineralogical studies confirm that spodumene is the predominant host mineral for lithium [14] Quality Assurance and Control - All drill core samples were collected under supervision, with QA/QC measures in place, including the use of blanks and certified reference materials [19][20] Company Incentives - The company announced the grant of 2,065,000 incentive stock options and 87,300 restricted share units to its directors and employees, with options exercisable at $7.50 per share [21][22] Company Background - Li-FT Power Ltd. is focused on the acquisition, exploration, and development of lithium pegmatite projects in Canada, with its flagship project being the Yellowknife Lithium Project [24]

Core Insights - E3 Lithium Ltd. is advancing its commercial process by producing battery-grade lithium carbonate from its Demonstration program, aiming to secure long-term offtake agreements with key players in the battery and critical minerals industry [2][5]. Production and Operations - The company has successfully produced significant quantities of lithium carbonate from its Direct Lithium Extraction process, with shipments of 0.5 kilogram lots to prospective customers in the lithium battery sector [2][3]. - The Demonstration equipment was designed based on a Pre-Feasibility Study published in 2024, and the facility achieved targeted specifications for battery-grade lithium carbonate within three weeks of commissioning [3][4]. Project Development - The Clearwater Project, located 15 km east of Olds, Alberta, is an advanced-stage lithium carbonate production facility with a proposed initial production capacity of 12,000 tonnes per year, expandable to 36,000 tonnes per year [4][7]. - The Demonstration program is part of a structured qualification process to collect data for the Front End Engineering and Design (FEED) leading to a Feasibility Study [4][5]. Financial Metrics - E3 Lithium has a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) in Measured and Indicated resources, with a Pre-Feasibility Study indicating a proven and probable mineral reserve of 1.13 million tonnes LCE, resulting in a pre-tax NPV(8%) of USD 5.2 billion and an after-tax NPV(8%) of USD 3.7 billion [7][8].

Market Overview - The three major A-share indices collectively declined, with the Shanghai Composite Index falling by 0.6% to 4101.52 points [1] - The Shenzhen Component Index decreased by 0.44%, while the ChiNext Index dropped by 1.02% [1] - The North Stock 50 index experienced a significant decline of 2.31% [1] Trading Activity - The total market turnover was 189.52 billion yuan, which represents a decrease of 35.06 billion yuan compared to the previous day [1] - Over 3600 stocks experienced a decline during the trading session [1] Sector Performance - The gold, lithium mining, and other non-ferrous metal sectors saw a counter-trend increase [1] - Hotel and tourism stocks experienced a general rise [1] - Conversely, sectors such as AI applications, military electronics, commercial aerospace, and medical services collectively underwent a correction [1]

Report Summary 1. Industry Investment Rating - No industry investment rating is provided in the report. 2. Core View - The report focuses on the high - level oscillation of lithium carbonate and suggests paying attention to the resumption progress of overseas mines [1]. 3. Summary by Directory 3.1 Fundamental Tracking - **Futures Data**: For the 2601 contract, the closing price is 166,340 yuan, with a change of 3,540 yuan compared to T - 1. The trading volume is 60, and the open interest is 465. For the 2605 contract, the closing price is 161,940 yuan, with a change of - 5,040 yuan compared to T - 1. The trading volume is 589,019, and the open interest is 452,583 [1]. - **Warehouse Receipts**: The warehouse receipt volume is 27,158 hands, with an increase of 260 hands compared to T - 1 [1]. - **Basis**: The basis of spot - 2601 is - 3,340 yuan, and the basis of spot - 2605 is 1,060 yuan. The basis of 2601 - 2605 is 4,400 yuan [1]. - **Raw Materials**: The price of spodumene concentrate (6%, CIF China) is 2,100 yuan, with an increase of 10 yuan compared to T - 1. The price of lepidolite (2.0% - 2.5%) is 4,990 yuan, with an increase of 40 yuan compared to T - 1 [1]. - **Lithium Salts**: The price of battery - grade lithium carbonate is 163,000 yuan, with an increase of 3,500 yuan compared to T - 1. The price of industrial - grade lithium carbonate is 159,500 yuan, with an increase of 3,500 yuan compared to T - 1 [1]. - **Related Products**: The price of lithium iron phosphate (power type) is 56,590 yuan, with an increase of 925 yuan compared to T - 1. The price of ternary material 523 (polycrystalline/consumer type) is 192,350 yuan, with an increase of 1,400 yuan compared to T - 1 [1]. 3.2 Macro and Industry News - The SMM battery - grade lithium carbonate index price is 165,597 yuan/ton, up 4,622 yuan/ton compared to the previous working day. The average price of battery - grade lithium carbonate is 163,000 yuan/ton, up 3,500 yuan/ton compared to the previous working day. The average price of industrial - grade lithium carbonate is 159,500 yuan/ton, up 3,500 yuan/ton compared to the previous working day [2]. - Brazilian lithium producer Sigma Lithium will resume partial production at its Grota do Cirilo mine by the end of January, after a 3.5 - month shutdown. The company plans to increase production in Q1 and announce its 2026 production plan after achieving stable production [3]. 3.3 Trend Intensity - The trend intensity of lithium carbonate is 0, indicating a neutral view [3].

Core Viewpoint - The article discusses the evolution of the lithium mining sector, highlighting its growth from being an overlooked industry to a significant player in the investment landscape, particularly through the lens of companies like Sociedad Química y Minera de Chile S.A (SQM) [1]. Group 1: Industry Overview - The lithium sector has gained prominence over the years, transitioning from a niche market to a critical component in various industries, especially in battery production for electric vehicles [1]. - The author emphasizes the importance of financial analysis and operational forecasts in determining the valuation of companies within the lithium mining sector [1]. Group 2: Investment Perspective - The article reflects a long-term investment strategy, focusing on companies that show potential for growth and profitability in the lithium market [1]. - The author aims to provide a streamlined version of institutional research to help investors understand the financial implications of their investment choices [1].

Core Insights - Atlas Lithium Corporation has announced that its subsidiary, Atlas Critical Minerals Corporation, has begun trading on the Nasdaq Capital Market under the ticker symbol "ATCX" [1] - Atlas Critical Minerals controls over 218,000 hectares of mineral rights in Brazil, making it one of the largest portfolios for strategic minerals among publicly traded companies [1] - The Neves Project, owned by Atlas Lithium, has demonstrated strong economic metrics with a 145% IRR, a $539 million NPV, and an 11-month payback period [3] - Atlas Lithium holds approximately 21% ownership in Atlas Critical Minerals Corporation [3] Company Overview - Atlas Lithium Corporation is focused on lithium exploration and development, particularly advancing the Neves Project to production [3] - The Neves Project has received operational permitting, and the necessary dense media separation plant has been acquired and transported to Brazil [3] - Atlas Lithium boasts the largest lithium exploration footprint in Brazil among publicly listed companies, covering approximately 557 square kilometers of lithium mineral rights [3] Additional Projects - The company is also involved in rare earths, graphite, uranium, and iron ore projects, with notable highlights including: - Rare Earths projects featuring surface samples with grades up to 28,870 ppm TREO, with Brazil holding the world's second-largest deposits of rare earths after China [5] - Graphite project achieving 99.9995% carbon purity, qualifying for the ultra-premium nuclear graphite market [5] - A uranium portfolio spanning 143,725 hectares across 39 mineral rights [5] - An operational iron ore project that commenced shipments in late 2025 [5]

Core Insights - Century Lithium Corp. has appointed Dr. Cormac O'Laoire as Strategic Advisor, bringing over 20 years of experience in the lithium-ion battery ecosystem [1][2] Company Overview - Century Lithium is focused on developing its 100%-owned Angel Island lithium project in Esmeralda County, Nevada, which is one of the largest sedimentary lithium deposits in the U.S. [5] - The company employs a patent-pending process for chloride leaching combined with Direct Lithium Extraction to produce battery-grade lithium carbonate [5] - Angel Island is currently in the permitting stage for a three-phase feasibility-level production plan, expected to yield an average of 34,000 tonnes per year of lithium carbonate over a 40-year mine life [6] Strategic Developments - Dr. O'Laoire's expertise will support Century Lithium in advancing the Angel Island project and evaluating downstream and strategic considerations [2] - He currently serves as Managing Director of Electrios Energy, focusing on lithium supply chains and the technical challenges of refining lithium into high-purity, battery-grade lithium carbonate [3] - Dr. O'Laoire's global perspective on battery supply chain development is expected to enhance the establishment of a resilient domestic lithium and battery materials industry supply chain in the U.S. [4]

Core Viewpoint - Lithium Chile Inc. is progressing towards closing the sale of its Arizaro project for US $175,000,000, with key steps being taken to advance the transaction [1][3]. Transaction Details - The transaction involves the sale of the Arizaro project through the company's Argentinian subsidiary, Argentum Lithium S.A. [1][2]. - A US $5,000,000 deposit from China Union Holdings Ltd. has been secured and will be held in escrow as security for the purchaser's payment obligations [3]. Transaction Progress - An Annual General and Special Shareholder Meeting is scheduled for May 15, 2026, to seek shareholder approval for the transaction [3]. - The company is considering a Substantial Issuer Bid (SIB) to distribute a portion of the net proceeds from the transaction to shareholders, which would reduce the number of issued and outstanding common shares [3][10]. Next Steps - The company is working to satisfy all remaining closing conditions while China Union Holdings is advancing its regulatory approval process [4]. - Further updates will be provided as milestones are achieved [4]. Arizaro Operations - The project team is maintaining the Arizaro asset and fulfilling all operational, environmental, and community-related obligations [5]. Market Awareness - The company plans to enhance market communications to improve awareness of its underlying value, as current trading levels are perceived to be below its net asset value [6]. - A services agreement has been established with Departures Capital Inc. for digital marketing and investor awareness services at a cost of CAD $100,000 over 12 months [7]. Company Overview - Lithium Chile Inc. holds a portfolio of 11 properties covering 106,136 hectares in Chile and 29,245 hectares in Argentina [8]. - The company has completed a NI 43-101 compliant Resource Report, Preliminary Economic Assessment, and Prefeasibility Study for the Arizaro project [8].