Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Freeport-McMoRan Inc. due to allegations of violations of federal securities laws related to safety issues at the Grasberg Block Cave mine in Indonesia, which resulted in significant investor losses [2][4]. Group 1: Allegations and Legal Actions - The complaint alleges that Freeport and its executives made false and misleading statements regarding safety at the Grasberg Block Cave mine, failing to disclose risks that could foreseeably lead to worker fatalities [4]. - Investors who purchased Freeport securities between February 15, 2022, and September 24, 2025, are reminded of the January 12, 2026 deadline to seek the role of lead plaintiff in the federal securities class action [2][9]. - The investigation is focused on the company's failure to ensure adequate safety measures, which constituted undisclosed risks of regulatory, litigation, and reputational damage [4]. Group 2: Incident and Stock Price Impact - On September 9, 2025, Freeport suspended mining activities at the Grasberg Block Cave after a significant incident trapped seven workers, leading to a stock price drop of $2.77, or 5.9%, closing at $43.89 per share [5]. - Following the tragic update on September 24, 2025, where two workers were confirmed dead, Freeport's stock fell by $7.69, or 17%, closing at $37.67 per share [6]. - An article published on September 25, 2025, highlighted the potential strain on Freeport's relationship with the Indonesian government due to the halt in production, resulting in a further stock decline of $2.33, or 6.2%, to close at $35.34 [7]. Group 3: Expert Opinions and Future Actions - An expert stated that the landslide incident at Freeport was preventable and should have been anticipated, indicating a lack of proper safety measures [8]. - Faruqi & Faruqi encourages anyone with information regarding Freeport's conduct, including whistleblowers and former employees, to come forward [9].

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Freeport-McMoran To Contact Him Directly To Discuss Their Options If you purchased or acquired securities in Freeport between February 15, 2022 and September 24, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, Nov. 29, 2025 (GLOBE NEWSW ...

Core Insights - Ero Copper has seen significant changes in institutional ownership, with several large investors increasing their stakes in the company, indicating growing confidence in its prospects [1][7] - Analysts have mixed ratings on Ero Copper, with some upgrading their ratings while others have downgraded, reflecting differing views on the company's future performance [2] - The company's recent quarterly earnings report showed a miss on both earnings per share and revenue compared to analyst expectations, which may raise concerns among investors [4] Institutional Ownership - GMT Capital Corp increased its stake by 22.9%, owning 6,931,025 shares valued at $83.94 million after acquiring 1,292,100 shares [1] - Connor Clark & Lunn Investment Management Ltd. raised its position by 119.3%, now holding 1,628,030 shares worth $27.52 million after buying 885,630 shares [1] - TD Asset Management Inc. boosted its stake by 56.2%, owning 1,460,342 shares valued at $24.62 million after acquiring 525,252 shares [1] - Hillsdale Investment Management Inc. purchased a new stake worth approximately $6.69 million [1] - Sprott Inc. increased its holdings by 64.3%, now owning 748,185 shares valued at $9.07 million after acquiring 292,896 shares [1] - Hedge funds and institutional investors collectively own 71.30% of Ero Copper's stock [1] Analyst Ratings - Weiss Ratings maintained a "hold (c)" rating on Ero Copper [2] - Wall Street Zen upgraded Ero Copper from "hold" to "buy" [2] - Goldman Sachs raised the price target from $18.50 to $25.00 and assigned a "buy" rating [2] - Stifel Canada downgraded Ero Copper from "strong-buy" to "hold" [2] - Zacks Research downgraded the stock from "strong-buy" to "hold" [2] - The average rating is "Hold" with a consensus target price of $25.00 [2] Stock Performance - Ero Copper shares opened at $25.25, with a market cap of $2.62 billion [3] - The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.80, and a current ratio of 1.05 [3] - The stock has a one-year low of $9.30 and a high of $25.78, with a 50-day moving average of $21.47 and a 200-day moving average of $17.18 [3] - The P/E ratio stands at 18.43, and the stock has a beta of 1.25 [3] Earnings Report - Ero Copper reported earnings of $0.27 per share, missing the consensus estimate of $0.36 by $0.09 [4] - The company generated revenue of $177.10 million, significantly below the analyst estimates of $309.30 million [4] - Ero Copper had a return on equity of 17.96% and a net margin of 26.63% [4] - Analysts predict an EPS of 0.71 for the current year [4] Company Overview - Ero Copper Corp. is engaged in the exploration, development, and production of mining projects in Brazil, focusing on copper concentrate production from the Caraíba operations [5]

TNR Gold Corporate Update and Strategic Review of the Developing M&A OpportunitiesNovember 28, 2025 6:18 PM EST | Source: TNR Gold Corp.Vancouver, British Columbia--(Newsfile Corp. - November 28, 2025) - TNR Gold Corp. (TSXV: TNR) ("TNR", "TNR Gold" or the "Company") is pleased to provide a corporate update and announce that the Company is continuing its strategic review of developing M&A opportunities."TNR Gold Corp is your gateway to the green energy rEVolution and gold stability," stated Ki ...

Core Viewpoint - Taseko Mines Ltd. (NYSEAmerican:TGB) has reached a nine-year high, driven by optimistic copper price forecasts from UBS, which predicts significant price increases in the coming quarters [1][2]. Group 1: Stock Performance - Taseko Mines extended its winning streak to three days, with the stock price reaching a peak of $5.13 during intra-day trading before closing at $5.04, reflecting a 10.77% increase [1]. - The stock's performance is attributed to investor confidence following UBS's positive outlook on copper prices [1]. Group 2: Copper Price Forecast - UBS forecasts copper prices to rise to $11,500 per ton in March 2026, $12,000 in June, and further to $12,500 and $13,000 in September and December, respectively [1]. - The forecast considers ongoing supply risks and lower inventories, which are expected to maintain tight market conditions [2]. - UBS anticipates a copper deficit of 230,000 tons in 2025 and 407,000 tons in 2026, primarily due to reduced output from Freeport McMoran's Grasberg mine [2]. Group 3: Company Developments - Taseko Mines confirmed a tragic accident at its Gibraltar mine in British Columbia, resulting in the death of a contract worker, leading to a halt in all activities at the site until a full investigation is completed [2]. - The company expressed condolences and emphasized the health and safety of its employees, offering support services to those affected by the incident [2].

Core Insights - The competition to scale copper production is intensifying, with Hudbay Minerals (HBM) and Teck Resources (TECK) representing two distinct future pathways for copper leadership [1][2] - Both companies have shown strong year-to-date performance despite operational challenges, focusing on long-term growth assets [1] Hudbay Minerals (HBM) - HBM has improved its balance sheet, reduced costs, and de-risked its Copper World project, achieving a year-to-date stock performance increase of 89.5% [3][5] - The company reported consolidated cash costs of negative 2 cents/lb and sustaining cash costs of $1.65/lb, with an improved full-year cash cost guidance of 15-35 cents/lb [5][6] - HBM has generated nine consecutive quarters of free cash flow and reduced net debt to 0.5x EBITDA, ending the third quarter with $611 million in cash and total liquidity of $1.04 billion [6][10] - The Copper World project, supported by a joint venture with Mitsubishi, is advancing towards a 2026 sanction decision, with first production expected in 2029 [10][11] Teck Resources (TECK) - TECK reported an adjusted EBITDA of $1.2 billion for the third quarter of 2025, a 19% year-over-year increase, with exceptional liquidity of $9.5 billion [14] - The merger with Anglo American is a significant event, creating "Anglo Teck," a top-five global copper producer with 1.2 million tons of annual capacity and $800 million in annual recurring synergies [15][25] - At the Quebrada Blanca (QB) operation, TECK faces tailings management facility constraints but has a plan to eliminate these by 2027, with a resource base that remains largely untapped [16][17] - TECK's zinc business has also performed well, contributing significantly to earnings [18] Valuation Comparison - HBM and TECK are trading at forward 12-month price to sales multiples of 2.76 and 2.65, respectively, both above the industry average [20] - HBM is viewed as more stable in the near term due to consistent free cash flow and improving costs, while TECK is seen as having a more substantial long-term growth potential [24][25]

Core Viewpoint - Amerigo Resources Ltd. has received approval from the Toronto Stock Exchange to proceed with a new normal course issuer bid (NCIB), reaffirming its commitment to disciplined capital allocation and shareholder value enhancement [1][2]. Group 1: NCIB Details - The new NCIB allows Amerigo to repurchase up to 11,700,000 common shares, approximately 10% of its public float as of November 18, 2025 [2]. - The NCIB will commence on December 2, 2025, and may continue until December 1, 2026, or until completed or terminated by the Company [5]. - Under the previous NCIB, which started on December 2, 2024, Amerigo repurchased and cancelled 3,967,984 shares at a weighted average price of Cdn$1.80 per share [5]. Group 2: Capital Return Strategy - Amerigo's Capital Return Strategy includes quarterly dividends of Cdn$0.04 per share, performance dividends, and share buybacks, aimed at delivering value to shareholders [6]. - Since the implementation of the Capital Return Strategy in October 2021, the total capital returned to shareholders amounts to Cdn$93.7 million, comprising Cdn$30.6 million in shares repurchased and Cdn$63.1 million in dividends paid [9]. - The minimum goal for the NCIB is to maintain a constant share count year-over-year and enhance long-term shareholder value [2][8]. Group 3: Trading Volume and Purchase Limits - Amerigo's average daily trading volume for the six months ending October 31, 2025, was 272,958 shares, setting the daily purchase limit under the NCIB at 68,239 shares, which is 25% of the ADTV [3]. - The Company may make one block purchase exceeding the daily purchase restriction once per calendar week [3]. Group 4: Share Purchase Mechanism - Shares under the NCIB will be purchased in open market transactions on the TSX at the prevailing market price and will be cancelled [4]. - The actual number of shares purchased and the timing of such purchases will be determined by Amerigo [4].

Core Viewpoints - The copper price experienced three rises and three falls from January to November 2025, showing a fluctuating upward trend, with a range of $8,539 to $11,068 per ton and an average price of $9,704 per ton, representing a year-on-year increase of 6%, and is expected to break historical highs by the end of the year [2][3] - The main factors influencing copper prices in 2025 return to traditional frameworks, highly correlated with commodity attributes, while financial attributes show a negative correlation [2][3] - The demand for copper remains robust, but supply sentiment reacts more strongly than the actual fundamental performance [3][4] Supply and Demand Analysis - From January to August 2025, global copper supply and demand maintained a tight balance, with an average monthly supply surplus of 0.8 thousand tons [2][3] - The global refined copper demand in 2024 is projected to have China accounting for 58% and the U.S. for 6%, with a compound annual growth rate (CAGR) of 2% from 2016 to 2024 [3] - The refined copper production in China and the U.S. for 2024 is estimated at 1,557 million tons and 162 million tons, respectively, with year-on-year growth of 1.3% and 0.5% [3] Price Forecast for 2026 - The copper market is expected to be in a state of tight balance in 2026, with a supply gap of 50 thousand tons, and global supply projected at 28.97 million tons, a year-on-year increase of 3%, while demand is expected to reach 29.01 million tons, also a year-on-year increase of 3% [4] - The copper price is anticipated to continue its upward trend, potentially reaching an average of $10,500 per ton in 2026 due to tightening supply and sustained demand [4] Investment Strategy - For upstream mining resources, companies with significant resource releases and development advantages are expected to benefit, with recommendations for Zijin Mining and Luoyang Molybdenum [5] - In the downstream sector, companies with high barriers to processing and strong performance in downstream industries are favored, with recommendations for Hailiang Co., Ltd. and attention to companies like Bowei Alloys and Srey New Materials [6]

Industry Overview - The global copper market is entering a new era characterized by structural tightness due to supply constraints and surging demand from electrification and renewables, creating a compelling medium-to-long-term investment window [1][2] - Supply is tightening with production growth expected to be muted at 1.2% in 2025 and 2.2% in 2026, which is insufficient to meet global demand [3] - The deficit outlook indicates a shortfall of around 230,000 tonnes in 2025, increasing to over 400,000 tonnes in 2026, highlighting the fragility of the supply chain [4] Demand Dynamics - Demand for copper is accelerating across various sectors, including electrification, grid renewal, renewable energy expansion, and data-center infrastructure, with electric vehicles requiring significantly more copper than traditional vehicles [5][8] - Demand is projected to expand by 2.8% in both 2025 and 2026, supported by AI-driven power infrastructure and faster EV adoption, indicating a robust consumption profile [8] Pricing and Market Sentiment - The price trajectory suggests a market struggling to find balance, with forecasts indicating copper prices could reach approximately $13,000 per tonne by late 2026 [9][11] - The current environment is viewed as the early stages of a longer repricing cycle, necessitating structurally higher prices to incentivize capital commitments for rebuilding global supply [11] Investment Opportunities in Australia - Australia is emerging as a prime destination for investors due to its stable regulatory environment and high-quality ASX-listed producers, offering both stability and upside potential [2][12] - The ASX-listed copper stocks are well-positioned to benefit from the structural shift in the copper market, with companies identified that combine balance sheet resilience and strong operating leverage [14] Key ASX-listed Companies - **BHP Group (ASX: BHP)**: The world's largest copper miner, providing stability through diversification across various commodities and maintaining financial strength amid market fluctuations [16][18] - **Sandfire Resources (ASX: SFR)**: A mid-to-large-cap producer with a market value of approximately $7.52 billion, positioned to capture elevated margins as supply deficits deepen [23][25] - **Aeris Resources (ASX: AIS)**: A high-growth mid-tier company with a clear expansion pathway and strong price momentum, expected to benefit from the widening structural copper deficit [27][29] - **Develop Global (ASX: DVP)**: Focused on the Sulphur Springs project, showcasing strong financial metrics and a stable regulatory environment, making it a compelling investment proposition [31][34] - **Hot Chili (ASX: HCH)**: Advancing the Costa Fuego project in Chile, with strategic advantages in resource consolidation and logistical achievements, enhancing operational certainty [36][37] Conclusion - The copper market is transitioning from a cyclical commodity to a long-duration strategic asset, with structural constraints on supply and intensifying demand, presenting significant investment opportunities for those positioned early in this shift [39]

Core Points - Grafton Resources Inc. has successfully closed a non-brokered private placement, raising gross proceeds of $2,400,000 through the issuance of 4,800,000 units at a price of $0.50 per unit [1][2] - Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at $0.80 until November 27, 2027 [1][2] - The proceeds will be used for the acquisition of the Alicahue Copper Project in Chile, exploration activities, option payments, and general corporate purposes [2] Financial Details - The company paid finder's fees totaling $133,784 in cash and issued 267,568 finder's warrants, each allowing the purchase of one common share at $0.80 until November 27, 2027 [3] - The offering is subject to acceptance by the Canadian Securities Exchange and the securities issued are under a four-month hold period expiring on March 28, 2026 [3] Related Party Transactions - Clariden Capital Ltd., owned by J. Campbell Smyth, participated in the offering by purchasing 345,400 units for $172,700, constituting a related party transaction [4][6] - The company is exempt from formal valuation and minority shareholder approval requirements due to the insider participation not exceeding 25% of the company's market capitalization [4] Ownership Changes - Prior to the offering, J. Campbell Smyth owned approximately 13.73% of the company's common shares, which decreased to approximately 11.79% post-offering [7][8] - Mr. Smyth has no current intention to dispose of or acquire further securities of the company, although he may do so depending on market conditions [9]