Core Viewpoint - American Tungsten Corp. reports high-grade tungsten-silver assay results from the IMA Mine, indicating significant mineralization and potential for project expansion [1][2]. Exploration Sampling Highlights - The company is nearing completion of its drilling program, with initial assay results reinforcing the strength of the IMA Mine project [2]. - Recent assay results from underground channel sampling and surface sampling highlight the scale and continuity of mineralization across the property [2]. Sampling Methodology and Results - Fifteen underground channel samples were collected from the No. 5 vein drift, primarily to validate historical sampling conducted in 1979 [3]. - Tungsten-bearing quartz veins are variably mineralized with hubnerite, scheelite, tetrahedrite, galena, sphalerite, and chalcopyrite [3]. - Samples were submitted for assay to ALS Global in Twin Falls, Idaho, in November 2025 [3]. Individual Sample Results - Samples from the No. 5 vein show elevated levels of tungsten, silver, copper, zinc, and lead [4]. - The average results from underground samples indicate 1.04% WO3 and 2.70 oz/t Ag over an average width of 5.0 ft [7]. Surface Sampling Results - Surficial rock chip sampling identified tungsten-silver mineralization in quartz veins exposed at the surface, with significant results including 0.256% WO3 and 0.64 oz/t Ag over 10 ft [8]. - Historical tailings from past mining activities contain an estimated 222,000 cubic yards, with preliminary sampling averaging 0.235% WO3 and 0.45 oz/t Ag [9]. About the IMA Mine - The IMA Mine is a past-producing underground tungsten mine located in East Central Idaho, with historical production of approximately 199,449 MTUs of WO3 between 1945 and 1957 [14]. - The company is currently conducting an exploration drill program to assess the potential for restarting underground tungsten mining operations at the IMA Mine [14]. Quality Assurance and Sample Analysis - The company's QA/QC program applies industry-standard best practices to ensure data quality and integrity for the IMA Mine project [15]. - Samples were analyzed by ALS Minerals in Vancouver, BC, using various methods including ICP-MS and fire assay [16].

Core Viewpoint - Almonty Industries is positioned to become a leading supplier of tungsten, focusing on establishing a secure supply chain for the U.S. and its allies, particularly through the Sangdong Tungsten Mine, which is set to begin active mining operations in December 2025 [1][3][20]. Company Developments - The Sangdong Tungsten Mine in South Korea transitioned from construction to production in December 2025, marking a significant milestone for the company [3]. - Almonty has secured binding offtake agreements for tungsten oxide, particularly for U.S. defense applications, enhancing revenue visibility [3]. - The company has expanded its geographic footprint by acquiring 100% ownership of the Gentung Browns Lake Tungsten Project in Montana, aligning with U.S. policy to reshore critical mineral supply chains [9][10]. Market Opportunity - The tungsten market is experiencing a critical supply gap due to China's export restrictions, with tungsten prices increasing over 160% in 2025 [5]. - Tungsten is recognized as a critical strategic metal essential for defense and advanced technology sectors, with Almonty being the largest Western-aligned tungsten producer [6][20]. Financial Highlights - In 2025, Almonty entered the U.S. capital markets, raising approximately US$90 million through an oversubscribed IPO and an additional US$129.4 million in a follow-up offering [11]. - The company has a fully capitalized balance sheet to support exploration and development initiatives [11]. Leadership and Management - Almonty has strengthened its executive team with experienced leaders from various sectors, enhancing its operational and strategic capabilities [12][13][14]. Future Outlook - The company aims to advance toward full-scale commercial operations at the Sangdong Tungsten Mine and commence Phase II expansion by 2027, potentially increasing production capacity to 1.2 million tons per annum [15]. - Ongoing drilling programs at the Panasqueira Mine and the Sangdong Molybdenum Project are expected to define future development pathways and increase annual output [16][17].

Core Viewpoint - American Tungsten Corp. is advancing its underground drill program at the IMA mine, having completed 2,120 feet of drilling across six holes, with a focus on resource expansion and becoming the first tungsten producer in the United States [1][3]. Drill Program Highlights - The initial drillholes at the IMA Project are intersecting the vein system along the strike of historical resources, reinforcing the geological model [3]. - The Phase 1 drill program targets five priority exploration areas, including the No. 5 and No. 7 Vein systems, aiming to delineate historically identified tungsten vein systems by the end of Q1 2026 [5]. Drilling Progress - Drilling has intersected quartz veins with hubnerite mineralization over an area of 400 feet along strike and 250 feet up-dip from the D-level [7]. - An additional 3,850 feet of drilling is planned across nine holes from the second and third D-Level drilling stations as part of the Phase 1 Program [7]. IMA Mine Overview - The IMA Mine is a past-producing underground tungsten mine located in East Central Idaho, which produced approximately 199,449 MTUs of WO3 between 1945 and 1957 [4]. - The company is currently assessing the potential for re-starting underground tungsten mining operations at the IMA Mine [4]. Company Background - American Tungsten Corp. is focused on high-potential tungsten and magnetite assets in North America, with the IMA Mine Project being a historic and high-quality property on private-patented land [15]. - The company holds an exclusive option to acquire full ownership of the IMA Mine, subject to a 2% royalty, and has expanded its land position with 113 additional federal claims covering nearly 2,000 acres [15].

Core Viewpoint - Allied Critical Metals has received a favorable environmental impact declaration for its Borralha Tungsten Project in Portugal, marking a significant regulatory milestone for the company [1][2]. Regulatory Approval - The environmental impact declaration allows the project to progress to the Project of Execution and RECAPE stage, along with subsequent licensing phases as per Portuguese regulations [2]. - The approval reflects the quality of the technical and environmental work completed and enables the company to advance to the next stage of permitting and detailed engineering [3]. Project Background - The Borralha Tungsten Project is a brownfield site with a historical production record of over 10,280 tonnes of wolframite concentrate extracted between 1904 and 1985, with an average grade of 66% tungsten trioxide [4]. - The environmental impact declaration evaluated various factors, including social, cultural, and ecological impacts [4]. Environmental Measures - Suggested measures include underground mining techniques to limit surface disruption, rehabilitation plans for historic mining sites, and protection strategies for water resources [5]. - The declaration includes closed-loop water management, dry-stacked tailings, and environmental monitoring plans to mitigate impacts [5]. Strategic Importance - The project aligns with the EU Critical Raw Materials Act, which aims to diversify supply sources for critical industrial and defense sectors within the EU [5]. - Allied Critical Metals has received recognition from idD Portugal Defense, highlighting its role in revitalizing tungsten production in Portugal and the project's strategic importance for national and European defense supply chains [6]. Economic Impact - The project is expected to stimulate regional employment and economic activity through local procurement initiatives and long-term investments [7].

Core Viewpoint - Allied Critical Metals Inc. has received a Favourable Environmental Impact Declaration (DIA) for its Borralha Tungsten Project in Portugal, marking a significant regulatory milestone that allows the project to advance towards development and production [1][5][8]. Regulatory Milestones - The issuance of the DIA confirms the environmental acceptability of the Borralha Project and enables progression to the Project of Execution and Environmental Compliance Report (RECAPE) stage, along with subsequent licensing phases [5][8]. - The project has also received a formal Letter of Recognition from idD Portugal Defense, acknowledging its strategic importance for national defense supply chains [2][8]. Project Overview - The Borralha Project is an underground mining initiative targeting tungsten production, with by-products including copper and tin concentrates [9]. - Tungsten is classified as a critical raw material under the EU Critical Raw Materials Act, essential for various industrial and defense applications [9][10]. Environmental and Social Considerations - The environmental approval was based on a comprehensive Environmental Impact Assessment (EIA) that evaluated potential effects on environmental, social, and cultural factors, along with mitigation measures [11][12]. - The project aims to generate employment and economic activity in the Municipality of Montalegre, contributing to regional development [13]. Next Steps - Following the DIA, the company plans to implement underground mining with limited surface disturbance, develop closed-loop water management systems, and conduct environmental monitoring [15][16]. - The company will also prepare the necessary documentation for the Project of Execution and advance detailed engineering and technical studies [16].

Core Insights - Almonty Industries Inc. had a highly successful calendar year in CY25, marked by significant achievements including a Nasdaq listing, raising over US$200 million in capital, and advancing multiple mining projects [1] Group 1: Financial Achievements - The company raised over US$200 million in fresh capital, which is a substantial financial milestone [1] - The successful listing on the Nasdaq composite represents a key strategic move for the company [1] Group 2: Project Developments - Almonty acquired a tungsten project in Montana, U.S., expanding its operational footprint [1] - The development of the mine in Portugal has progressed, indicating ongoing investment in international projects [1] - The Sangdong mine in South Korea has commenced production, contributing to the company's operational capabilities [1] Group 3: Future Outlook - The company’s leadership suggests that the real value creation may still lie ahead, indicating potential for future growth and opportunities [3]

Group 1 - Almonty Industries Inc. (NASDAQ:ALM) experienced a significant share price increase of 840.13% in 2025, driven by its aggressive expansion into tungsten production [1] - The company announced multiple developments to enhance its tungsten production portfolio, including the acquisition and operational commencement of several mining sites in the US and South Korea [1] - Almonty Industries is set to begin commercial operations at its Sangdong Tungsten Mine in South Korea, following the successful delivery of the first truckload of ore [2] Group 2 - The acquisition of the Sangdong mine occurred after the US halted its mining operations in 2015, and Almonty has been working to bring the site back into production since then [2] - In November, Almonty successfully acquired the Gentung Browns Lake Tungsten Project in Montana and initiated drilling operations at its Panasqueira Mine in Portugal, which is undergoing a significant expansion [2] - The Panasqueira Mine expansion involves a 2.5 million euro operation to drill 14,000 meters with three rigs over a 12-month period [2]

Core Viewpoint - Almonty Industries Inc. is experiencing significant stock performance due to the imminent start of commercial operations at its Sangdong Tungsten Mine in South Korea, which is crucial for diversifying the tungsten supply chain away from China [1][3]. Group 1: Company Developments - Almonty Industries' stock rose by 6.64% to close at $8.35 as investors anticipate the start of commercial operations at its mine [1]. - The company has successfully delivered its first truckload of ore to the Run-of-Mine pad at the Sangdong Tungsten Mine, marking a critical step before official commercial operations begin [2]. - The first ore placement is seen as a strategic inflection point for Almonty, aiming to strengthen the global tungsten supply chain and reduce reliance on China, which currently supplies over 80% of the world's tungsten [3]. Group 2: Strategic Importance - The resumption of production at the Sangdong Mine is essential for securing a reliable, non-China tungsten supply for key sectors, including defense, semiconductors, AI hardware, and aerospace [4]. - Almonty acquired the Sangdong mine after the US halted its mining operations in 2015 and has since focused on bringing the site back into production [4]. - Preparatory works such as geological assessments, ground stabilization, load testing, and equipment installation have been completed to advance the project [5].

Core Viewpoint - American Tungsten Corp. has successfully completed the initial drillhole at the IMA mine project, revealing the presence of hubnerite and scheelite tungsten mineralization across multiple core intercepts, indicating potential for further exploration and resource expansion [1][2]. Company Overview - American Tungsten Corp. is a Canadian exploration company focused on tungsten and magnetite assets in North America, particularly advancing the IMA Mine Project in Idaho, which is a historic underground tungsten mine [14]. Drilling Program Details - The Phase 1 drilling program targets five priority exploration areas, including the No. 5 and No. 7 Vein systems, aiming to delineate historically identified tungsten vein systems and expand known mineralization by the end of Q1 2026 [2]. - The initial drillhole AT25-01 was completed at a depth of 373 feet, intersecting the No. 5 vein over 12.7 feet and the No. 7 vein over 14.1 feet [7]. - Drillhole AT25-02 is ongoing, currently at approximately 150 feet, having intersected the No. 5 vein over 11.5 feet [7]. Mineralization Observations - Hubnerite was observed as reddish-brown to black striated prismatic crystals within the No. 5 quartz vein, while scheelite was noted as blue fluorescent diffuse masses under UV light [7]. - Accessory minerals found in both veins include tetrahedrite, chalcopyrite, galena, molybdenum, pyrite, and fluorite [7]. Historical Context - The IMA Mine produced approximately 199,449 MTUs of WO3 between 1945 and 1957 and has been explored for molybdenum and tungsten by various operators from 1960 to 2010 [11]. Quality Assurance Measures - The company implements a QA/QC program adhering to industry best practices to ensure data quality and integrity for the IMA Mine project, including secure sample storage and adherence to data collection protocols [12].

Core Insights - Happy Creek Minerals Ltd. has reported significant drill results from the 2025 program at the Fox Tungsten Project, indicating potential resource expansion and continuity of tungsten mineralization [1][2]. Group 1: Drill Results - The 2025 drill program included 18 diamond core drill holes totaling 2,176 meters, focusing on the expansion of tungsten resources at the Ridley Creek (RC) and BN zones [2][6]. - Notable results from the RC zone include: - 1.18 meters grading 6.83% WO3 from 31.2 meters in hole F25-13 - 1.00 meters grading 2.22% WO3 from 47.0 meters in hole F25-01 - 0.95 meters grading 1.11% WO3 from 36.5 meters in hole F25-02 [2][6]. - The BN zone drilling revealed: - 1.00 meters grading 0.88% WO3 from 105.0 meters in hole F25-16 - 1.65 meters grading 0.57% WO3 from 218.3 meters in hole F25-16 - 2.50 meters grading 0.25% WO3 from 106.2 meters in hole F25-17 [2][3]. Group 2: Geological Insights - The RC zone is approximately 400 meters by 175 meters, with a thickness ranging from 5 to 25 meters, and is open to the west beneath Deception Mountain [7][10]. - The BN zone consists of three stacked calc silicate horizons, with the middle horizon being the best defined and containing most of the current resource, located 20 to 80 meters below the surface [14][15]. Group 3: Exploration Focus - The 2025 drilling program aimed to explore the extent of calc silicate hosted tungsten mineralization mainly to the west and south, confirming geological continuity and expanding the resource area [10][16]. - The drilling at the BN zone tested the potential for mineralized horizons to extend to the northwest and at depth, indicating further resource expansion potential [16].