Group 1 - Southern Copper Corporation has recently achieved record revenue and net income, driven by high copper prices [1] - The future supply-demand balance of copper remains uncertain, which may impact the stock's performance [1] Group 2 - The analyst has over 10 years of experience researching various companies across different sectors, including metals and mining [1]

Company Overview - Terra Balcanica Resources Corp. is focused on the Western Tethyan Metallogenic Belt, targeting critical metals such as Sb, Zn, Ag, and Au to meet the demands of the European economy [2][3] - The company holds a 90% interest in the Viogor-Zanik Project located in eastern Bosnia and Herzegovina, which is currently advancing through its drilling campaigns [16] Recent Developments - The acquisition of Adriatic Metals by Dundee Precious Metals for C$1.3 billion underscores the geological potential of Bosnia and Herzegovina, where Terra is also operating [1] - Terra plans to initiate its Phase III drilling campaign at the Viogor-Zanik project within the next two weeks, aiming to confirm the size potential of the Brezani Sb-Ag mineralization [1][2] Geological Context - Bosnia and Herzegovina is part of an ancient European mining belt with significant advantages for exploring metals essential for energy transition markets [3] - The Western Tethyan Belt is recognized for its rich deposits of precious and base metals, comparable to major mining regions like the Andes [6] Regulatory and Economic Environment - Bosnia and Herzegovina is a stable democracy with EU candidate status, working to align its legal frameworks with European standards, which benefits the mining sector [4] - The country has a supportive population towards mining, a skilled workforce, and favorable mining codes, including a corporate tax rate of 10% [5] Project Specifics - The Viogor-Zanik project encompasses 168 km and features high-grade polymetallic targets, with the potential for open-pit or shallow underground mining operations [9] - Recent drilling at the Chumavichi target confirmed high-grade Ag-Sb-Pb-Zn-Au mineralizations across a 2 km strike [10] - At the Brezani target, a 20-meter wide antimony-silver mineralization grading 436 g/t Ag Eq was intercepted, indicating significant resource potential [11][14]

Report Industry Investment Rating - Not provided in the content Core Viewpoints - The fundamentals of nickel and stainless steel remain under pressure in the near term. The high - priced nickel ore and weak demand are squeezing the profits of the intermediate links, making it difficult to directly boost the nickel price. The price of ferronickel still shows a downward trend, and the procurement intensity of the upstream and downstream of ferronickel is weak. The demand for stainless steel is sluggish in the off - season, and the inventory reduction is slow. The nickel salt in the new energy chain has declined due to the impact of the nickel price. Attention should be paid to the spot transaction situation and the boost from the macro news in the future [3]. Summary by Relevant Catalogs 1. Price and Volatility - The predicted price range of Shanghai nickel is 117,000 - 126,000 yuan/ton, with a current volatility (20 - day rolling) of 15.17% and a historical percentile of 3.2% [2]. 2. Management Strategies Inventory Management - When the product sales price drops and there is a risk of inventory value reduction, short Shanghai nickel futures based on the inventory level to lock in profits and hedge against the risk of spot price decline, with a hedging ratio of 60% and a strategy level of 2. Sell call options with a hedging ratio of 50% and a strategy level of 2. - According to the production plan, buy far - month Shanghai nickel contracts to lock in production costs in advance, with a buying direction and a hedging ratio based on the procurement plan and a strategy level of 3 [2]. Procurement Management - When the company has future production procurement needs and is worried about the rise in raw material prices, sell put options with a selling direction and a hedging ratio based on the procurement plan and a strategy level of 1. Buy out - of - the - money call options with a buying direction and a hedging ratio based on the procurement plan and a strategy level of 3 [2]. 3. Core Contradictions - Shanghai nickel has been oscillating at the bottom. The short - term support from Philippine nickel mines still exists, and the domestic trade benchmark price in Indonesia has a slight downward shift. The premium in June is stable, but the high - priced ore and weak demand are squeezing the profits of the intermediate links. The price of ferronickel is still declining, and the procurement intensity of the upstream and downstream is weak. The demand for stainless steel is sluggish in the off - season, and the inventory reduction is slow. The nickel salt in the new energy chain has declined due to the impact of the nickel price. Attention should be paid to the spot transaction situation and the macro news [3]. 4.利多 and 利空 Factors 利多 Factors - The Philippine government plans to ban nickel ore exports in June 2025. Some stainless steel plants have announced production cuts. There is still support from the cost side of nickel ore prices [4]. 利空 Factors - The inventory reduction of stainless steel is slow. Stainless steel has entered the traditional off - season of demand. The demand for precursors in the new energy chain is relatively weak [4]. 5. Market Data Nickel Disk Daily - The latest value of Shanghai nickel main continuous contract is 121,390 yuan/ton, with a month - on - month change of 0%. The latest value of Shanghai nickel continuous one contract is 121,390 yuan/ton, down 1,320 yuan or 1.08% month - on - month. The latest value of Shanghai nickel continuous two contract is 121,600 yuan/ton, down 1,270 yuan or 1.03% month - on - month. The latest value of Shanghai nickel continuous three contract is 121,770 yuan/ton, down 1,290 yuan or 1.03% month - on - month. The latest value of LME nickel 3M is 15,365 US dollars/ton, down 125 US dollars or 1.05% month - on - month. The trading volume is 107,520 lots, with a month - on - month change of 0%. The open interest is 78,763 lots, with a month - on - month change of 0%. The warehouse receipt volume is 21,041 tons, down 151 tons or 0.71% month - on - month. The basis of the main contract is - 1,550 yuan/ton, down 140 yuan or 8.3% month - on - month [5]. Stainless Steel Disk Daily - The latest value of stainless steel main continuous contract is 12,460 yuan/ton, with a month - on - month change of 0%. The latest value of stainless steel continuous one contract is 12,435 yuan/ton, down 205 yuan or 1.62% month - on - month. The latest value of stainless steel continuous two contract is 12,460 yuan/ton, down 195 yuan or 1.54% month - on - month. The latest value of stainless steel continuous three contract is 12,480 yuan/ton, down 190 yuan or 1.50% month - on - month. The trading volume is 214,653 lots, with a month - on - month change of 0%. The open interest is 188,420 lots, with a month - on - month change of 0%. The warehouse receipt volume is 120,039 tons, down 1,624 tons or 1.33% month - on - month. The basis of the main contract is 630 yuan/ton, down 60 yuan or 8.70% month - on - month [6]. 6. Industry Inventory - The domestic social inventory of nickel is 39,375 tons, down 2,178 tons from the previous period. The LME nickel inventory is 198,126 tons, down 966 tons from the previous period. The stainless steel social inventory is 983.3 tons, up 15.8 tons from the previous period. The ferronickel inventory is 31,462 tons, up 1,907.5 tons from the previous period [7].

Report Industry Investment Rating - Not provided in the content Core Viewpoints - The fundamentals of nickel and stainless steel have no obvious improvement. The Shanghai nickel price has been oscillating at the bottom, with short - term support from Philippine nickel mines, a slight decline in the Indonesian domestic trade benchmark price, and stable premiums in June. The nickel - iron price has stabilized, but the procurement intensity of upstream and downstream is weak due to profit pressure. Some steel mills in China and Indonesia have announced production cuts, the demand in the stainless - steel market is sluggish during the off - season, and inventory has further accumulated. The nickel salt in the new - energy chain has declined due to the impact of nickel prices. Attention should be paid to spot transactions and fundamental drivers [3]. - There are both positive and negative factors in the market. Positive factors include the Philippine government's plan to ban nickel - ore exports in June 2025, production cuts by some stainless - steel plants, and stable cost support from nickel mines and nickel - iron. Negative factors include high stainless - steel inventory, the traditional off - season for stainless - steel demand, and anti - dumping investigations launched by multiple stainless - steel trading countries [4]. Summary by Relevant Catalogs 1. Price Forecast and Management Strategy - **Shanghai Nickel Price Forecast**: The predicted price range of Shanghai nickel is 117,000 - 126,000 yuan/ton, with a current 20 - day rolling volatility of 15.17% and a historical percentile of 3.2% [2]. - **Shanghai Nickel Management Strategy**: For inventory management, when the product sales price falls and there is a risk of inventory depreciation, it is recommended to short Shanghai nickel futures according to the inventory level to lock in profits and hedge against the decline in spot prices, with a hedging ratio of 60% for futures and 50% for selling call options. For procurement management, when the company has future production and procurement needs and is worried about rising raw - material prices, it is recommended to buy Shanghai nickel forward contracts according to the production plan to lock in production costs, and the hedging ratio is based on the procurement plan. Other options strategies include selling put options and buying out - of - the - money call options [2]. 2. Market Data - **Nickel Disk Daily Data**: The latest price of the Shanghai nickel main - continuous contract is 121,570 yuan/ton, with a 0% change. The prices of other contracts such as Shanghai nickel continuous - one, continuous - two, and continuous - three have increased by 1.11%, 1.05%, and 1.05% respectively. The LME nickel 3M price is 15,330 US dollars/ton, down 1.04%. The trading volume and open interest remained unchanged, while the warehouse receipt volume decreased by 0.22%. The basis of the main contract increased by 86.2% [5]. - **Stainless - Steel Disk Daily Data**: The latest price of the stainless - steel main - continuous contract is 12,690 yuan/ton, with a 0% change. The prices of stainless - steel continuous - one and continuous - two increased by 0.71% and 0.63% respectively, while the continuous - three decreased by 0.27%. The trading volume and open interest remained unchanged, the warehouse receipt volume decreased by 1.02%, and the basis of the main contract decreased by 12.16% [6]. 3. Industry Inventory - **Nickel Industry Inventory**: The domestic social inventory of nickel is 41,553 tons, a decrease of 836 tons; the LME nickel inventory is 200,724 tons, a decrease of 900 tons; the stainless - steel social inventory is 967.5 tons, a decrease of 6.4 tons; the nickel - pig - iron inventory is 31,462 tons, an increase of 1,907.5 tons [7].

Core Viewpoint - FireFly Metals Ltd has announced agreements for two significant capital raising initiatives, the Canadian Offering and the Australian Offering, aimed at funding the Green Bay Copper-Gold Project in Newfoundland, Canada. Group 1: Canadian Offering - FireFly has entered into an agreement with BMO Capital Markets to purchase 30,000,000 ordinary shares at C$0.86 (A$0.96) per share, generating gross proceeds of C$25.8 million (approximately A$28.8 million) [1] - An option has been granted to BMO Capital Markets to purchase an additional 10% of the offering for overallotments and market stabilization purposes [1] - The Canadian Offering is expected to close around June 20, 2025, pending necessary regulatory approvals [2] Group 2: Australian Offering - Concurrently, FireFly has an agreement with Canaccord Genuity to raise approximately A$46.0 million through an Australian Offering, which includes a charity flow-through placement of A$11.2 million and an institutional placement of A$29.9 million [3] - A retail share purchase plan (SPP) of up to A$5 million will also be undertaken, with the potential for oversubscriptions [3] - The Flow-Through and Placement are expected to close around June 13, 2025, with the SPP to follow [3] Group 3: Use of Proceeds - The net proceeds from both offerings will primarily fund expenditures at the Green Bay Copper-Gold Project, including underground development, resource extension, infill drilling, and exploration [4] - Additional funds will cover transaction costs and working capital [4] Group 4: Company Overview - FireFly Metals Ltd is focused on advancing the Green Bay Copper-Gold Project, which includes the Ming underground mine and Little Deer exploration project [6] - The project currently hosts a Mineral Resource of 24.4 million tonnes (Mt) of Measured and Indicated Resources at 1.9% for 460,000 tonnes (Kt) CuEq and 34.5 Mt of Inferred Resources at 2% for 690 Kt CuEq [6] - The company aims to grow its copper-gold Mineral Resource significantly, supported by a 130,000-meter diamond drilling program [6] Group 5: Additional Projects - FireFly holds a 70% interest in the Pickle Crow Gold Project, with an Inferred Resource of 11.9 Mt at 7.2 g/t for 2.8 million ounces (Moz) of gold [7] - The company also has a 90% interest in the Limestone Well Vanadium-Titanium Project in Western Australia [7]

A Decade of Reporting on Sustainability Topics Critical to Communities, Stakeholders, and Our BusinessTORONTO, June 4, 2025 /PRNewswire/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD) is pleased to announce the publication of its 2024 Sustainability Report. New Gold has published an annual Sustainability Report since 2015, reporting on the sustainability-related material topics that matter most to communities, stakeholders and our business. The 2024 Sustainability Report is av ...

Core Insights - T2 Metals Corp. announced results from its Q1 2025 drill program at the Sherridon VMS project, highlighting high-grade gold and silver intersections, including 7.2 g/t Au and 145.5 g/t Ag [2][4][6] Group 1: Drill Program Overview - The Q1 2025 drill program consisted of four holes totaling 1,120 meters, targeting a strike length exceeding 800 meters east of the Bob Lake Historical Resource [3] - The drilling focused on untested geophysical targets rather than areas with past mining or historical resources, aiming to reduce environmental impact [5][12] Group 2: Significant Findings - Drillhole SHN25021 intersected a new zone of high-grade precious metal mineralization, similar to previous findings at the Lost Lake prospect, indicating potential for further exploration [4][8][11] - Drillhole SHN25022 targeted hanging wall Cu-Zn mineralization adjacent to the Bob Lake Historical Mineral Resource, intersecting semi-massive sulfide mineralization [9] Group 3: Future Exploration Plans - The company plans to continue exploring the Sherridon project for Snow Lake-style gold targets, emphasizing the potential for high-grade Au-Ag mineralization [11][30] - Geophysical surveys are currently suspended due to fire-related evacuation orders, but will resume to provide additional information on high-merit targets [13]

Core Viewpoint - Midland Exploration Inc. has initiated a significant copper-nickel exploration program in Nunavik, following the discovery of new mineralized showings from 2020 to 2024 [1][5]. Group 1: Exploration Program Details - The 2025 exploration program is part of a strategic alliance with BHP Group Limited, focusing on newly identified crustal-scale structures favorable for copper-nickel mineralization [2][3]. - The program will include an airborne HeliTEM® time-domain electromagnetic survey, covering approximately 6,600 line-kilometers, set to begin in June 2025 [8][15]. Group 2: Recent Discoveries and Surveys - New Cu-Ni-Co showings were identified from 2022 to 2024, with significant findings including the Target 22 showing, which returned grades of 0.81% Ni, 0.22% Cu, and 0.19% Co [5][6]. - A lake-bottom sediment survey conducted in July 2023 collected 1,383 samples, detecting several copper-nickel anomalies, leading to the discovery of a new mineralized intrusion [7][15]. Group 3: Historical Context and Methodology - The exploration targets mafic troctolite/olivine gabbro intrusive rocks, similar to those at Voisey's Bay, which have seen less historical exploration in Quebec [5]. - Regional magnetotelluric (MT) surveys completed in 2022 identified a major crustal-scale structure, interpreted as a high-priority target for copper-nickel exploration [6][15].

Core Viewpoint - T2 Metals Corp is actively monitoring the wildfire situation near its Sherridon copper-gold-zinc Project in Manitoba, prioritizing the safety of personnel and the local community [2][4]. Group 1: Wildfire Situation - The Manitoba Wildfire Service has reported active fires close to the Sherridon community and the company's mineral concessions [2]. - As a precaution, T2 Metals has temporarily suspended field activities at the Sherridon project site to ensure safety and allow for continuous monitoring of the situation [3]. Group 2: Company Response - T2 Metals maintains clear communication with the Manitoba Wildfire Service and local authorities for real-time updates and guidance [3]. - CEO Mark Saxon expressed concern for the affected community and emphasized that the safety of the team and residents is the top priority, with plans to resume operations once it is safe [4]. Group 3: Company Overview - T2 Metals Corp is focused on enhancing shareholder value through exploration and discovery in under-explored areas, including the Sherridon, Lida, Cora, and Copper Eagle projects [5].

Intrepid Metals Intercepts 27.50% Copper, 10.15 gpt Gold, and 192 gpt Silver Over 0.55m in First Drill Hole of 2025 at Corral Copper May 27, 2025 7:00 AM EDT | Source: Intrepid Metals Corp. Vancouver, British Columbia--(Newsfile Corp. - May 27, 2025) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") is pleased to announce results from the first diamond drill hole of its 2025 exploration program at the Company's Corral Copper Property ("Corral" or the "Property") in Cochise Co ...