Core Insights - United States Antimony Corporation reported a significant increase in revenues and gross profit for the third quarter and the first nine months of 2025, with revenues reaching $26.23 million, marking a 182% increase compared to $9.31 million in the same period of 2024 [1] Financial Performance - Revenues for the first nine months of 2025 increased by $16.92 million compared to the same period in 2024 [1] - Gross profit for the same period saw a remarkable increase of 219%, indicating strong operational performance [1]

Core Insights - Brasnova Energy Materials Inc. has acquired phosphate exploration concessions in Piaui, Brazil, specifically the Piaui Verde Phosphate Project, which spans 10.198 hectares and is located in areas with proven geological diversity and phosphate indications [1][2] - The project has significant potential for uncovering phosphate mineralization and also offers opportunities for critical metals such as copper, nickel, chromium, and rare earths [1] - Phosphate has been added to the United States' Final 2025 List of Critical Minerals, highlighting its importance in various sectors, including fertilizers and battery technologies [3] Company Overview - Brasnova Energy Materials Inc. focuses on securing, developing, and monetizing energy materials assets and technologies to enhance shareholder value [3] Project Development Strategy - The development strategy for the Piaui Verde Phosphate Project aims to evaluate its suitability for providing advanced phosphate materials for both the fertilizer and battery sectors in Brazil [2] - Phosphate is a core component in battery technologies, particularly in lithium iron phosphate (LFP) batteries, due to its high thermal stability and long cycle life [2]

Market Overview - The Australian share market experienced modest gains across major indexes, with the S&P/ASX 200 closing at 8818.80, down 0.2% from 8835.90 [1][7] - The S&P/ASX 20, S&P/ASX 50, and S&P/ASX 100 also saw declines of 0.8%, 0.4%, and 0.3% respectively [1][7] - The broader S&P/ASX 300 fell 0.2% to finish at 8769.90 from 8784.60 [1][7] Top Gainers - Light & Wonder Inc. (LNW) led the S&P/ASX 200 gainers, rising $13.75, or 10.99%, to close at $138.82 [2][7] - Liontown Resources Limited (LTR) climbed $0.09, or 7.83%, finishing at $1.24 [2][7] - Pilbara Minerals Limited (PLS) added $0.24, or 7.50%, reaching $3.44 [2][7] - Bega Cheese Limited (BGA) advanced $0.35, or 6.55%, closing at $5.69 [2][7] - Mineral Resources Limited (MIN) rose $2.64, or 5.96%, ending at $46.92 [2][7] Top Decliners - Bendigo and Adelaide Bank Limited (BEN) saw the largest decline, dropping $1.08, or 8.49%, to $11.64 [3][7] - Commonwealth Bank of Australia (CBA) fell $11.52, or 6.59%, closing at $163.40 [3][7] - Life360 Inc. (360) slid $2.52, or 5.22%, to $45.80 [3][7] - IperionX Limited (IPX) declined $0.19, or 3.20%, to $5.74 [3][7] - Breville Group Limited (BRG) slipped $0.69, or 2.28%, to $29.58 [3][7] Futures Market - The S&P/ASX 200 Futures for December 2025 fell 48.0 points, or 0.54%, to 8,843.5, indicating a softer market outlook [5][7]

Core Viewpoint - Happy Creek Minerals Ltd. announces the resignation of CEO Jason Bahnsen and the appointment of Stephen Gray as the new CEO and Director, indicating a leadership transition at a crucial time for the company [1][3]. Company Leadership - Mr. Stephen Gray has extensive experience in the mining industry, having held positions at Rio Tinto Plc, Kinross Gold Corp., and Centerra Gold Inc. He holds a Bachelor of Science in Mining Engineering and an MBA [2]. - Mr. Gray expressed enthusiasm about joining Happy Creek and aims to build on the work done by his predecessor, highlighting the company's strong fundamentals in the tungsten market and its high-quality project portfolio [3]. Company Projects - Happy Creek is focused on resource development in British Columbia, with key projects including the high-grade Fox Tungsten deposit and the Silverboss molybdenum-copper-gold-silver project [4][5]. - The company recently completed the sale of the Highland Valley Copper Project to Metal Energy Corp., retaining a 9.9% stake in Metal Energy and a potential 2.5% Net Smelter Return royalty on the mineral claims [6]. Commitment to Community - Happy Creek is dedicated to responsible mineral resource development and aims to build mutually beneficial relationships with Indigenous Communities in its exploration territories [7].

Core Viewpoint - Velocity Minerals Ltd. provides an update on the Türker Transaction, highlighting the financial arrangements and agreements with Türker Global Madencilik Sanayi ve Ticaret A.Ş. [1][2] Türker Transaction Update - Velocity received a first tranche payment and the closing of the Türker Transaction is expected within 18 months from June 23, 2025, with a potential reduction of USD $1.5 million in the second tranche if closed within 12 months [2]. Funding and Technical Services Agreement - A Funding and Technical Services Agreement was signed, where Türker will fund all costs to maintain the Subject Assets, complete field work for a Feasibility Study, and file an Environmental Impact Assessment report [3]. Amended Agreement Details - An amendment to the 2019 Investment Agreement with Artemis Gold Inc. was announced, including lock-up agreements that restrict the sale or transfer of Velocity shares under certain conditions [4]. Provisions of the Amendment Agreement - The cap on directors and board composition will terminate under specific conditions, including six months after the Türker Transaction closes [5]. Lock Up Agreements - The Lock Up Agreements will terminate under several conditions, including the sale of all shares by Artemis or six months after the Türker Transaction closes [6]. Distribution of Net Profits - Net profits distribution will be subject to various conditions, including legal restrictions and board discretion regarding reserves [7]. About the 2019 Investment Agreement - The 2019 Investment Agreement involved an initial investment of $9 million from Artemis, which included equity placements and convertible debentures [8][9]. Artemis Gold's Investment - Since 2019, Artemis has invested a total of $13,945,785 in Velocity and currently holds 25.7% of the issued and outstanding common shares [11]. About Artemis Gold - Artemis Gold is focused on gold and silver production, with its current project being the Blackwater Mine in British Columbia, which achieved commercial production in May 2025 [12].

Core Insights - Natural Resource Partners L.P. (NRP) reported a net income of $30.9 million for Q3 2025, with a total net income of $148.1 million for the last twelve months [1][2] - The company generated $41.8 million in free cash flow during Q3 2025 and $190 million over the last twelve months, despite ongoing depressed market conditions for coal and soda ash [2][3] - NRP declared a cash distribution of $0.75 per common unit for Q3 2025, consistent with previous distributions [2][6] Financial Performance - NRP's net income for Q3 2025 was $30,905,000, a decrease from $38,595,000 in Q3 2024 [1][22] - Operating cash flow for Q3 2025 was $41,095,000, down from $54,145,000 in Q3 2024 [25] - Free cash flow decreased slightly from the previous year, with Q3 2025 at $41,823,000 compared to $50,101,000 in Q3 2024 [1][22] Segment Performance - Mineral Rights segment saw a net income increase of $0.2 million, but operating cash flow and free cash flow decreased by $9.2 million and $9.1 million respectively due to lower metallurgical coal prices and volumes [3][4] - Soda Ash segment net income decreased by $10.5 million compared to the prior year, primarily due to lower sales prices [7][8] - The corporate and financing segment reported an increase in net income of $2.6 million, attributed to lower interest expenses [9][10] Market Conditions - NRP anticipates continued weak pricing for coal and soda ash due to low global demand and oversupply in the market [4][8] - The soda ash market is significantly oversupplied, with no immediate catalysts for price recovery expected [8] - The carbon neutral revenue opportunities remain weak, with challenges including high operational costs and an uncertain regulatory environment [5] Corporate Actions - NRP repaid $32 million of debt in Q3 2025, maintaining a consolidated leverage ratio of 0.4x as of September 30, 2025 [10] - The company had $190.1 million in available liquidity, consisting of $31 million in cash and $159.1 million in borrowing capacity [10]

Core Insights - Focus Graphite has received conditional funding of up to $14.1 million from Natural Resources Canada to support the establishment of Canada's first electrothermal fluidized bed purification demonstration facility, aimed at producing ultra-high-purity graphite for various markets [2][3][4] Funding and Project Overview - The funding, announced at the G7 Energy and Environment Ministers' Meeting, is part of the Global Partnerships Initiative and is pending final due diligence [2][3] - The project will utilize Quebec-sourced graphite from Focus's Lac Knife and Lac Tetepisca deposits, which are among North America's highest-grade natural graphite resources, to produce graphite with purity levels exceeding 99.95% carbon [4][21] Environmental and Technological Aspects - The electrothermal fluidized bed technology is designed to produce ultra-high purity graphite with zero liquid waste and lower emissions, aligning with environmental, social, and governance (ESG) standards [3][20] - The project aims to establish a scalable and chemical-free purification process, enhancing Canada's critical mineral processing capacity [20][21] International Collaboration - The project involves collaboration with Ukrainian and American partners, including the Thermal & Material Engineering Center and American Energy Technologies Company, to leverage their expertise in engineering and purification technologies [3][5][8] - Focus Graphite has also partnered with the University of Texas at Dallas's BEACONS Battery Prototyping Facility to validate and commercialize the purified graphite for defense and advanced battery applications [7][14] Path to Commercialization - The initiative is expected to create skilled jobs and support regional economic development while establishing a domestic purification capability for Canadian-sourced graphite [21][22] - Focus Graphite plans to produce qualification samples for G7 and NATO-aligned partners, addressing the upstream bottleneck in establishing large-scale purification capacity in Canada [22][23] Future Prospects - The electrothermal platform may eventually be adapted for rare earth element purification, potentially opening new avenues for clean processing of strategic materials [23] - The project aligns with Canada's Critical Minerals Strategy, aiming to reduce dependence on foreign-controlled materials and enhance energy security [21][22]

Core Insights - Vale S.A. is primarily engaged in the production and mining of minerals, focusing on iron ore, nickel, and copper due to its diverse portfolio of mines and deposits [1] Company Overview - Vale S.A. operates in the commodities sector, specifically in the mining industry, with a strong emphasis on iron ore production [1] - The company is recognized for its ability to generate sustained free cash flows, maintain low levels of leverage, and manage sustainable debt over time [1] Investment Focus - The company is appealing to investors looking for value opportunities, particularly in emerging markets where high margins and solid investment prospects exist [1] - There is a notable interest in companies that exhibit a pro-shareholder attitude, including consistent buyback programs and dividend distributions [1]

Core Viewpoint - Linear Minerals Corp. has received approval from the Supreme Court of British Columbia for a Plan of Arrangement to spin out its Pontax West Lithium Property to its subsidiary Westlinear Minerals Corp. [1] Summary by Relevant Sections - **Arrangement Details** - The Arrangement is dated August 1, 2025, and involves the distribution of shares of Westlinear Minerals Corp. to Linear's shareholders [1] - Shareholders will receive one share of Spinco for every 10 shares of Linear owned as of the Share Distribution Record Date, which will be announced later [1]

Core Viewpoint - A class action lawsuit has been filed on behalf of shareholders of Tronox Holdings plc for common stock purchases made between February 12, 2025, and July 30, 2025 [1] Company Overview - Tronox Holdings plc operates titanium-bearing mineral sand mines and processes these materials to produce titanium dioxide (TiO2) products [1]