Vancouver, British Columbia--(Newsfile Corp. - January 12, 2026) - Cruz Battery Metals Corp. (CSE: CRUZ) (OTCID: BKTPF) (WKN: A40YSN) ("Cruz" or the "Company") is pleased to announce that it has engaged Stantec Consulting Ltd. to complete a Maiden Resource Estimate ("MRE") and Technical Report for the Solar Lithium Project in Clayton Valley, Nevada. The Technical Report will be prepared in accordance with the requirements of National Instrument 43-101. The Stantec qualified person (Derek Loveday, PGeo) has ...

面对火热行情，多家券商发布研究报告对2026年锂价走势进行分析预测。中信建投认为碳酸锂供需矛盾已从供给 施压转向消费驱动，基本面大幅改善，但未给出具体价格区间；国泰君安期货指出多重因素交织下价格重心上 移、区间震荡，预计2026年碳酸锂价格上限约13.3万元/吨；五矿证券预计2026年市场步入"紧平衡"，锂价有望企 稳回升；赣锋锂业表示若需求增速超30%，供应无法平衡，价格可能突破15万元/吨甚至20万元/吨；华泰证券观点 相对保守，认为2026年碳酸锂基本面定价区间或在8 - 9万元/吨，指出即使2025年有短暂供需短缺，2026年市场或 仍将小幅过剩。 这个逼近15万元/吨关键心理关口的价格，已成为新能源产业链最受关注的"价格锚"，直接影响着从上游锂矿开采 到下游新能源汽车与储能电站的成本与利润分配。 三大引擎驱动价格上涨的核心力量 业内人士分析指出，储能需求爆发、供给端约束以及政策引导下的产业秩序重构是此轮碳酸锂价格上涨的三大核 心驱动力。 储能市场表现极为亮眼。国内储能发展逻辑从行政推动的"强制配储"转向以投资回报率为核心的"经济性驱动"， 内蒙古、甘肃等10多个省份出台容量电价补偿机制，改善了储能项 ...

作者丨董鹏 编辑丨朱益民 近日，盐湖股份（000792.SZ）的2026年盈利预期获得密集上调。 公司近期披露的业绩预告显示，预计2025年归母净利润为82.9亿元至88.9亿元，同比增长77.78%至 90.65%，超出此前市场预期。 业绩预告发布前，卖方对其2026年盈利预期区间为62—82亿元；业绩预告发布后，卖方盈利预期值则普 遍上调至100亿元，光大证券、申万宏源更是给出了120亿元左右的盈利预期。 这背后，是潜在的钾、锂行业景气度提升，以及公司本身确定性较强的新增产能投放、资产注入计划。 仅以公司锂盐业务为例，公司去年9月末投产的4万吨盐湖提锂项目有望大规模释放，并且还有五矿盐湖 后续并表所带来的0.8万吨权益产能，公司权益产能有望从2025年的2万吨（未包括4万吨自建项目）提 升至6.9万吨，权益产能增速明显大于名义产能增速。 此外，本周碳酸锂现货均价已经升至13.8万元/吨，远月期货合约则是一度逼近15万元/吨，接下来如若 锂价出现超预期式上涨，卖方给出的盈利预期可能会进一步上修。 盈利百亿一致预期 对于公司业绩增长，盐湖股份指出，"氯化钾产品价格较上年同期有所上升，碳酸锂产品价格虽波动较 大 ...

Core Viewpoint - Enerev5 Metals Inc. has staked 81 mineral claims in northeastern Nevada, covering approximately 1,680 acres, to advance its lithium exploration strategy in a region known for significant lithium deposits [1][2][4]. Group 1: Company Strategy and Actions - The newly staked claims are strategically located near properties held by Surge Battery Metals Inc. and Peloton Minerals Corp., both of which are actively exploring lithium in the area [2][4]. - Enerev5's claims were staked based on regional prospecting and a review of geological data, with plans for an initial exploration program that may include geological mapping and surface geophysical surveys [3][6]. - The acquisition aligns with the company's strategy to focus on ethically sourced critical battery metals in stable jurisdictions, with Nevada recognized as a leading lithium jurisdiction [4][13]. Group 2: Industry Context - Northern Nevada is home to large sediment-hosted lithium clay deposits, often associated with ancient volcanic systems, which are crucial for lithium extraction [5]. - The region's policy framework aims to establish Nevada as the North American hub for the entire lithium supply chain, supporting clean energy initiatives and economic growth [4][11]. - Surge Battery Metals has reported significant lithium resources in the region, indicating a competitive landscape for lithium exploration [10].

Core Viewpoint - International Lithium Corp. (ILC) is optimistic about the recovery in lithium prices and its implications for the Raleigh Lake project, highlighting significant price increases since June 2025 [1][2]. Price Recovery - Lithium Carbonate prices have surged from USD 8,535 per tonne in June 2025 to USD 19,747 per tonne by January 8, 2026, marking a 131% increase. Spodumene Concentrate (SC6) prices rose from USD 630 to USD 1,800 per tonne, a 185% increase [2]. - The current SC6 price in CAD is CAD$2,498.40 per tonne, based on an exchange rate of USD=CAD 1.3880 [2]. Economic Projections for Raleigh Lake - The Preliminary Economic Assessment (PEA) for the Raleigh Lake project indicates a Net Present Value (NPV) of CAD$223.1 million (pre-tax) and CAD$215.1 million (post-tax) at the current SC6 price of CAD$2,498.40 per tonne, with an Internal Rate of Return (IRR) of 33.1% (pre-tax) and 32.7% (post-tax) [4]. - Sensitivity analysis from the PEA shows that at a SC6 price of CAD$2,100 per tonne, the NPV would drop to CAD$122.3 million (pre-tax) and CAD$120.1 million (post-tax) with an IRR of 23.2% (pre-tax) and 23.0% (post-tax) [5]. Project Development and Strategic Focus - ILC is in the process of converting mining claims at Raleigh Lake into a mining lease and is planning further work at the site, including a PEA for rubidium [7]. - The Raleigh Lake project covers 32,900 hectares and is ILC's most significant project in Canada, with excellent access to infrastructure [13][14]. - The company aims to optimize the value of its existing projects while exploring new opportunities, particularly in Southern Africa and Zimbabwe [12][16]. Industry Context - The demand for lithium is driven by the increasing need for high-tech rechargeable batteries, electric vehicles, and energy storage solutions, positioning lithium as a critical resource in the transition to a sustainable economy [10][16]. - ILC's projects are strategically aligned with the growing demand for critical metals, supported by political initiatives in major economies to secure supplies [10].

Summary of Conference Call on China Battery Materials Industry Overview - The report focuses on the lithium battery materials industry, particularly lithium supply and demand dynamics as of January 2026 - Notable trends include a shift from destocking to stockpiling of lithium inventories after a five-month period of destocking [1] Key Points Lithium Inventory and Pricing - Lithium inventory has begun stockpiling, with downstream cathode makers showing resistance to rising lithium prices - Current inventory levels for downstream cathode makers have declined to approximately 36.5k tons, the lowest since March 2025, while monthly output of cathodes is about 38% higher than that time [1] - The average selling price (ASP) of lithium is expected to remain high due to supply-side concerns [1] Supply-Side Concerns - Potential delays in the resumption of JXW's mine operations due to tailing capacity issues - Geopolitical risks in Mali may impact local production and shipment of lithium [1] - Ganfeng Lithium has a spodumene capacity of approximately 500ktpa at Goulamina, while Hainan Mining has a capacity of 100ktpa at Bougouni [1] Demand Projections - An upward revision in cathode production is anticipated for January, contrasting with a previous expectation of a 10% month-over-month decline - Settlements on processing fee negotiations between major lithium iron phosphate (LFP) cathode makers and battery manufacturers are contributing to this demand increase [1] Additional Insights - The report indicates a significant shift in market dynamics, with supply constraints and geopolitical factors playing a crucial role in shaping the lithium market landscape [1] - The analysis suggests that the lithium market is entering an exciting phase as it adapts to these changes, with potential implications for pricing and production strategies in the coming months [1]

Energy and Geopolitics - Former President Trump announced a meeting with the top 14 oil companies at the White House, emphasizing the potential for the U.S. to capture "trillions of dollars worth of oil" from Venezuela following the ousting of Nicolás Maduro [2][7] - U.S. officials indicated the necessity for the U.S. to control Venezuela's oil sales and revenues to restore its oil industry, with Trump stating American oil companies are ready to invest billions in infrastructure [2][7] - Proceeds from seized Venezuelan oil are planned to be placed into U.S.-controlled offshore accounts [2] Lithium and International Relations - Ukraine has awarded its Dobra lithium field to a consortium with connections to Trump allies, indicating a shift towards business-driven ties with the U.S., although significant mining and profits are expected to take years [3][7] China's Economic Dynamics - China is experiencing its fastest inflation rate in nearly three years, primarily due to rising food costs, while domestic car sales are cooling, leading to a projected increase in car exports [4][7] Healthcare Sector Developments - Johnson & Johnson has finalized an agreement with the U.S. government to reduce drug prices, part of broader efforts to make medications more affordable [5][7] International Diplomacy - Italian Prime Minister Giorgia Meloni is set to visit South Korea to enhance strategic partnerships and cultural exchanges [6][7] - Japan's Finance Minister Katayama will meet with U.S. counterparts to discuss rare earth supplies, noting that Japan's consumption trends remain stable [6][7] Market Movements - The KOSPI index in the Seoul Stock Market reversed an early loss of 1.14% to turn positive, reflecting broader global economic shifts [6]

Core Viewpoint - Sigma Lithium Corporation's stock declined after Bank of America Securities expressed a bearish outlook, citing unresolved operational delays and liquidity issues that overshadow any potential rebound in lithium prices and hinder the company's near-term production capabilities [1][2]. Operational and Liquidity Challenges - The analyst highlighted that the company has not provided clarity on the restart of mining operations or the receipt of prepayment funds, both of which are essential for addressing balance sheet concerns [3]. - Despite a 158% increase in stock price since the November 14 earnings call, the analyst believes there is more downside risk, as the stock currently reflects expectations of large mining volumes despite minimal progress in resolving operational and liquidity challenges [3]. Production and Market Outlook - Delays in the first phase of production (P1) could impact the timing of the second phase (P2), further affecting the company's ability to capitalize on favorable market conditions through optimal production [4]. - Although the lithium market outlook has improved due to production discipline and strong demand, Sigma Lithium cannot benefit from higher prices without consistent production [4]. Financial Estimates and Revisions - The analyst revised the fiscal 2026 concentrate sales forecast to 210,000 tons SC5, down from 298,000 tons, but noted that lower first-quarter costs and higher prices in the second and fourth quarters, along with 190,000 tons of tailings sales, could help mitigate volume shortfalls, raising 2026 EBITDA to $97 million from $85 million [5]. - EPS estimates were adjusted to a loss of 15 cents for 2025 (previously a loss of 21 cents), 51 cents for 2026 (previously 46 cents), and 78 cents for 2027 (previously 73 cents) [5]. Stock Performance - Sigma Lithium shares were reported down 15.29% at $13.26 at the time of publication [6].

Core Insights - Midland Exploration Inc. has announced the results of its 2025 drilling campaign for lithium on the Galinée project, which is located near the Adina lithium deposit [7][19] - The drilling program included a total of 14 diamond drill holes and 9 reverse circulation drill holes, totaling 4,105.09 meters, with significant lithium and cesium mineralization identified [9][11] Drilling Results - The best lithium results from the 2025 drilling program include: - 1.14% Li2O over 30.59 meters, including 1.77% Li2O over 18.39 meters (hole TLIB0051) - 0.53% Li2O over 22.90 meters, including 1.09% Li2O over 6.10 meters (hole TLIB0044) - 1.08% Li2O over 17.10 meters (hole TLIB0034) [11][12] - New cesium mineralization was identified with results such as: - 9.15% Cs2O over 6.40 meters (hole TLIB0006) - 1.89% Cs2O over 12.10 meters (hole TLIB0044) [11][13] Geological Observations - The Galinée project exhibits two distinct styles of lithium mineralization: - The Iceberg area features a stacked spodumene pegmatite system that is 10 to 20 meters thick - South of Iceberg, the pegmatites are generally less than 10 meters thick and laterally extensive [15][16] - The Iceberg spodumene pegmatite bodies remain open along strike and to depth, indicating potential for further exploration [16] Project Background - The Galinée project is strategically located approximately 5 kilometers east of the Adina deposit, which has significant mineral resources [19] - Midland has a partnership with Rio Tinto Exploration Canada Inc. (RTEC) under an option agreement, with RTEC recently paying $487,500 as part of this agreement [20] Future Plans - Further drilling is planned to better define the geometry and extension of the lithium pegmatites identified in the current drilling campaign [16]

Investment Thesis - The mineral industry, particularly rare earth minerals and lithium, is highlighted as a capital-intensive market with varying winners [1] - Lithium is identified as a crucial driver for electric vehicle (EV) adoption, with a significant demand forecasted [1] - Standard Lithium (SLI) is recommended as a Strong Buy due to its trading at a discount to future cash flows and potential for growth by 2026 [1] Stock Performance - SLI's stock price has shown a strong uptrend, breaking the $5 level and establishing it as a support level [2] - In comparison to competitors like Lithium Americas (LAC) and Piedmont Lithium (PLLTL), SLI has outperformed, with LAC and PLLTL experiencing declines of 46.2% and 99.84% over five years, respectively [2] - The performance of SLI is attributed to its asset base and the potential of the Smackover Formation [2]