Critical milestone for activation of exploration program at large-scale gold-copper project, Peru Vancouver, BC – TheNewswire - February 19, 2026 – Fidelity Minerals Corp. (TSX-V: FMN | FSE: S5GM | SSE: MNYC) (“Fidelity” or the “Company”) is pleased to announce that on February 4, 2026 the Company executed a surface access and land use agreement (the “Agreement”) with a local landowner at its flagship Las Huaquillas gold-copper project located in northern Peru. The Agreement grants the Company the right t ...

Core Viewpoint - Teck Resources Limited is a prominent Canadian resource company focused on copper and zinc operations, with a strategic merger with Anglo American aimed at enhancing its position in the critical minerals market [1][5]. Financial Performance - On February 19, 2026, Teck reported earnings per share of $1, exceeding the estimated $0.59, driven by higher copper prices, although revenue was slightly below expectations at $2.23 billion compared to the estimated $2.26 billion [2][6]. - The company's financial health is strong, evidenced by a current ratio of 2.78 and a debt-to-equity ratio of 0.15, indicating a solid ability to meet short-term liabilities [3][6]. Market Valuation - Teck's market capitalization is $29 billion, with a price-to-earnings ratio of 33.92 and a PEG ratio of 0.58, reflecting the market's assessment of its earnings and growth potential [4]. - The enterprise value to sales ratio stands at 4.19, and the enterprise value to operating cash flow ratio is 29.14, indicating how the market values the company relative to its sales and cash flow [4]. Strategic Initiatives - Teck is advancing its strategic initiatives, particularly at the Quebrada Blanca site, and the proposed merger with Anglo American has received strong shareholder support and key regulatory approval, positioning the company for future growth as a top-five global copper producer [5].

Val-D'Or, Quebec--(Newsfile Corp. - February 19, 2026) - Val-D'Or Mining Corporation (TSXV: VZZ) (OTCQB: VDOMF) ("the Company") is pleased to announce the commencement of an 8,000-metre diamond drilling program on the Perestroika Prospect. The property is in Courville Township, Québec, located approximately 40 kilometres northeast of Val-D'Or, Québec. The Perestroika property is under option to Eldorado Gold (Québec) Inc. ("Eldorado") who may earn a 70% interest in each of the Murdoch Creek, Claw Lake, Coo ...

Core Insights - Canada Nickel Company has successfully completed an in-situ carbon sequestration pilot study at its Crawford Nickel Project, demonstrating a new pathway for permanent CO2 storage [1] - The pilot project sequestered approximately 12 tonnes of CO2, indicating the potential for large-scale decarbonization in mining operations [1] Group 1: Project Details - The carbon sequestration pilot was conducted in collaboration with the U.S. Department of Energy's Advanced Research Projects Agency – Energy, led by the University of Texas at Austin [1] - The pilot involved short-duration injection trials and continuous CO2-saturated water injection into a well drilled to a depth of 396 meters, confirming that the injected CO2 remained dissolved without surface leakage [1] - Monitoring of seismicity and water chemistry will continue in the coming months to ensure the effectiveness of the carbon sequestration process [1] Group 2: Economic and Environmental Impact - The direct injection approach has the potential to lower future mining costs by pre-conditioning and fracturing the rock mass, making it less energy-intensive for subsequent mining processes [1] - The initiative is part of Canada Nickel's vision for a Zero-Carbon Industrial Cluster in the Timmins region, expanding the company's carbon capture and storage capabilities [1] - The results from this study will inform future post-mining carbon sequestration strategies, enhancing the environmental and economic value of mining operations [1]

Teck Resources beat fourth-quarter profit expectations on Thursday, helped by a surge in copper prices and production, as the Canadian miner advanced its proposed merger with Anglo American. ...

Core Insights - The company anticipates strong operational performance and improved financial results in 2025, primarily driven by higher production volumes, achieving an industry-leading 8% increase in copper equivalent production and setting annual production records for copper and bauxite [1][4] Financial Performance - Underlying EBITDA for 2025 rose to $25.4 billion, a 9% year-on-year increase, while underlying earnings reached $10.9 billion, with a commitment to return 60% of these earnings (approximately $6.5 billion) to shareholders [6][7] - Copper was highlighted as the standout segment, with EBITDA more than doubling to $7.4 billion, supported by nearly $3 billion of volume improvement year-on-year [6][8] Production and Operations - The company reported a significant rebound in Pilbara operations following four cyclones earlier in the year, achieving production records from April [1] - Simandou project is approximately two-thirds complete, with a commitment to a 60 million tonnes per annum ramp-up and a first shipment of high-quality iron ore achieved in December [5][16] Cost Management and Capital Expenditure - The company aims to unlock $650 million in annualized productivity savings by Q1 2026, with a focus on operational discipline and streamlining processes [5][12] - Capital expenditure for 2025 is projected at around $11 billion, including $1.6 billion for Simandou and over $1 billion for lithium growth projects, with guidance stepping down to $10 billion thereafter [14] Market Dynamics - Copper and aluminum prices increased by 9% on average for the year, with copper ending the year 44% higher than the previous year, while aluminum was 17% higher [10] - Iron ore EBITDA fell 11% year-over-year but was offset by strong performances in copper and aluminum [11] Strategic Initiatives - The company is directing 85% of its exploration budget toward copper, with significant projects identified in Peru, Arizona, and Chile [17] - Discussions with Glencore were constructive, but the company concluded that no agreement could deliver value for shareholders [18]

Core Viewpoint - Hudbay Minerals Inc. is expected to report significant earnings growth driven by higher revenues, effective cost management, and strong gold prices, with analysts projecting an EPS of $0.41, up from $0.18 the previous year, marking a 122% increase [2]. Financial Performance - The projected revenue for Hudbay for the upcoming quarter is approximately $746.3 million, indicating a year-over-year growth of 30.6%, supported by deferred copper shipments and strong production output in October [3]. - The company has a history of exceeding earnings expectations, having done so in two of the last four quarters, with an average earnings surprise of 40.68% [3]. Valuation Metrics - Hudbay's price-to-earnings (P/E) ratio stands at 21.45, reflecting the price investors are willing to pay for each dollar of earnings [4]. - The price-to-sales ratio is 4.79, and the enterprise value to sales ratio is 5.03, indicating the company's valuation relative to its sales [4]. Debt and Liquidity - The debt-to-equity ratio for Hudbay is 0.36, suggesting a moderate level of debt compared to equity [5]. - The current ratio is 0.97, indicating the company's ability to cover short-term liabilities with short-term assets [5]. - The earnings yield is 4.66%, representing the return on investment for shareholders [5].

Financial Data and Key Metrics Changes - The company reported an underlying EBITDA increase of 9% to $25.4 billion, driven by strong operational performance and productivity improvements [6][12] - Stable underlying earnings were recorded at $10.9 billion, with a dividend payout of 60%, equating to $6.5 billion returned to shareholders [6][13] - Net debt increased to $14.4 billion, reflecting the Arcadium acquisition, but remains manageable with a gearing ratio of 18% [13][23] Business Line Data and Key Metrics Changes - Copper equivalent production increased by 8%, setting annual records for both copper and bauxite, with copper EBITDA more than doubling to $7.4 billion [5][20] - Iron ore delivered $15.2 billion of EBITDA, with unit costs in line with guidance at $23.50 per ton [20] - Aluminum maintained stability, with EBITDA up 20%, benefiting from stronger market conditions [21] Market Data and Key Metrics Changes - Copper and aluminum prices rose by 9%, with copper ending the year 44% higher than the previous year [14] - The demand for lithium has surged, with prices increasing significantly, reflecting a strong market recovery [14][60] - The iron ore market remains supported by Chinese steel export growth, with a structurally balanced market [13] Company Strategy and Development Direction - The company aims for a 3% compound annual growth rate (CAGR) for copper equivalent production through the end of the decade, focusing on operational excellence and cost reductions [7][10] - A significant portion of the exploration budget (85%) is now directed towards copper, indicating a strategic focus on this commodity [9] - The company is committed to capital discipline, with rigorous capital allocation guiding all investment decisions [10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the need for improved safety measures following a tragic incident at the Simandou site, emphasizing the importance of safety in operations [3][4] - The leadership expressed confidence in achieving production targets, including the ramp-up to 60 million tons per annum of iron ore from Simandou [9][58] - The company is optimistic about future growth, particularly in aluminum, lithium, and copper, despite some market challenges [7][14] Other Important Information - The company is actively testing the market for asset sales, including RTIT and the Borates businesses, to generate cash proceeds of $5 billion to $10 billion [10] - The management has restructured its organization to enhance operational efficiency and accountability [16] Q&A Session Summary Question: Insights on Glencore discussions and coal ownership - Management discussed the valuation gap in the Glencore talks, emphasizing a focus on underlying asset quality and potential synergies [30][39] Question: Opportunities in streaming agreements - Management indicated that while there are options for streaming agreements, the focus remains on systematically evaluating the best capital release opportunities [32][33] Question: Cost-cutting opportunities in Pilbara - Management confirmed that the $650 million productivity program is expected to exceed initial targets, with ongoing efforts to identify further cost reductions across all business lines [34][35] Question: Iron ore negotiations and market dynamics - Management acknowledged ongoing conversations with CMRG and other market participants, focusing on securing supply and understanding customer needs [74][75] Question: Geopolitical risk considerations - Management highlighted the importance of value assessment and risk mitigation strategies when considering investments in higher-risk regions [92][96]

Financial Data and Key Metrics Changes - Underlying EBITDA increased by 9% to $25.4 billion, driven by strong operational performance and productivity improvements [6][12] - Stable underlying earnings of $10.9 billion, with a dividend payout of 60%, equating to $6.5 billion returned to shareholders [6][13] - Net debt rose to $14.4 billion, with a modest gearing of 18% [13][23] Business Line Data and Key Metrics Changes - Copper equivalent production increased by 8%, setting annual records for both copper and bauxite [5][6] - Copper EBITDA more than doubled to $7.4 billion, with shipments up 60% at Oyu Tolgoi [20][21] - Iron ore delivered $15.2 billion of EBITDA, with unit costs in line with guidance at $23.50 per ton [20][21] Market Data and Key Metrics Changes - Copper and aluminum prices rose by 9%, with copper ending the year 44% higher than the previous year [14] - Iron ore remains supported by Chinese steel export growth, with a structurally balanced market [13][14] - Lithium markets showed strong momentum, with battery storage demand emerging as a fast-growing pillar of the energy transition [14][15] Company Strategy and Development Direction - The company aims for a 3% CAGR for copper equivalent production through to the end of the decade, focusing on operational excellence and cost reductions [7][10] - A significant portion of the exploration budget (85%) is directed towards copper, emphasizing the importance of value-accretive projects [9] - The company is committed to capital discipline, with rigorous capital allocation guiding every investment decision [10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the need for improved safety measures following a recent tragedy at the Simandou site, emphasizing the importance of safe operations [3][4] - The company is confident in achieving its production targets, including the 60 million tons per annum of iron ore from Simandou [9][58] - Future growth is expected to be driven by strong demand for aluminum, lithium, and copper, despite some supply constraints [7][14] Other Important Information - The company is actively testing the market for RTIT and the Borates businesses, aiming to deliver $5 billion-$10 billion in cash proceeds from its asset base [10] - The company has a strong balance sheet and is generating stable operating cash flow from its diversified portfolio [24] Q&A Session Summary Question: Insights on Glencore discussions and coal ownership - Management assessed the transaction with a focus on underlying asset quality and potential value creation, concluding that an agreement could not be reached [30][39] Question: Opportunities in streaming agreements - Management indicated that various options exist across the portfolio for capital release, including potential streaming agreements [32][33] Question: Cost-cutting opportunities in Pilbara - Management confirmed that the $650 million run rate for productivity improvements is expected to be exceeded in 2026, with a multi-year program in place [34][35] Question: Iron ore cost targets compared to competitors - Management emphasized the importance of comparing full unit costs and highlighted ongoing efforts to drive efficiencies in the Pilbara [67][69] Question: Future of iron ore negotiations - Management confirmed ongoing conversations with customers, focusing on securing supply and creating value together [74][75] Question: Geopolitical risk considerations - Management acknowledged the complexities of operating in high-risk regions and emphasized the importance of value and risk mitigation in decision-making [92][96]

Financial Data and Key Metrics Changes - Underlying EBITDA increased by 9% to $25.4 billion, driven by strong operational performance and productivity improvements [4][10] - Stable underlying earnings of $10.9 billion, with a dividend payout of 60%, equating to $6.5 billion returned to shareholders [4][22] - Net debt rose to $14.4 billion, reflecting the Arcadium acquisition, but remains manageable with a gearing of 18% [11][21] Business Line Data and Key Metrics Changes - Copper equivalent production increased by 8%, setting annual records for both copper and bauxite [4][10] - Copper EBITDA more than doubled to $7.4 billion, driven by higher prices and rising volumes, with shipments up 60% at Oyu Tolgoi [18][19] - Iron ore delivered $15.2 billion of EBITDA, with unit costs in line with guidance at $23.50 per ton [18][19] Market Data and Key Metrics Changes - Copper and aluminum prices rose by 9%, with copper ending the year 44% higher than the previous year [12][18] - Iron ore remains supported by Chinese steel export growth, with a structurally balanced market [11][12] - Lithium markets showed strong momentum, with battery storage demand emerging as a fast-growing pillar of the energy transition [12][19] Company Strategy and Development Direction - The company aims for a 3% CAGR for copper equivalent production through to the end of the decade, focusing on operational excellence and cost reductions [5][6] - A disciplined approach to capital allocation is emphasized, with all projects required to create shareholder value [8][9] - The company is prioritizing copper in its exploration budget, directing 85% towards copper projects [7] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the need for improved safety practices following a recent tragedy at Simandou, emphasizing the importance of safe operations [2][3] - The company is confident in achieving its production targets at Simandou despite recent challenges [59] - Future growth is expected to be driven by strong demand for aluminum, lithium, and copper, with supply constraints in the sector [5][12] Other Important Information - The company is actively testing the market for asset sales, including RTIT and the Borates businesses, aiming for $5 billion-$10 billion in cash proceeds [8] - The company has a robust project pipeline to extend growth into the 2030s, with a focus on copper [7][19] Q&A Session Summary Question: Insights on Glencore discussions and coal ownership - Management assessed the transaction with a focus on underlying asset quality and potential value creation, ultimately deciding against the merger due to limited synergies [10][39] Question: Opportunities in streaming agreements - The company has various options to release capital across its portfolio, including potential streaming agreements, but will prioritize value-driven decisions [31][32] Question: Cost-cutting opportunities in Pilbara - The $650 million productivity program is expected to exceed initial targets, with systematic reviews across all business units to identify further cost reductions [33][34] Question: Iron ore negotiations and market dynamics - Ongoing conversations with customers focus on securing supply and pricing, reflecting the evolving iron ore market [76][77] Question: Geopolitical risk considerations - The company evaluates opportunities in high-risk regions with a focus on value and potential returns, using higher discount rates for riskier projects [96][100]