Financing Proposal - King Copper Discovery Corp. is proposing a non-brokered private placement financing of 25 million units at a price of 60 cents per unit, aiming for gross proceeds of up to $15 million [1] - Each unit will consist of one common share and one share purchase warrant, exercisable at $0.98 for two years [1] Regulatory and Closing Details - All securities issued will be subject to a statutory four-month hold period in accordance with applicable securities law, with the expected closing date of the financing set for January 15, 2026 [2] - The financing is subject to various conditions, including approval from the TSX Venture Exchange [3] Use of Proceeds - Proceeds from the financing are expected to be utilized for general working capital and for the ongoing assessment and evaluation of multiple copper exploration and development opportunities within South America [3]

Core Insights - A significant copper supply deficit is projected to reach 10 million metric tons by 2040 due to a 50% increase in demand driven by electrification, AI, and defense spending [1][2][3] Demand Projections - Global copper demand is expected to rise to 42 million metric tons by 2040, a 50% increase from current levels [1] - Core economic demand will account for 23 million metric tons (53% of global demand) by 2040, while energy transition and additional demand will increase to 15.7 million metric tons [6] - Demand from AI and data centers, along with rising defense spending, is anticipated to add 4 million metric tons to the total demand by 2040 [7] Supply Challenges - Global copper production is projected to peak at 33 million metric tons in 2030, leading to a substantial shortfall by 2040 [2] - The study indicates that overcoming the supply gap will require an additional 10 million metric tons of primary supply by 2040, alongside increased recycling efforts [8] - The copper sector faces challenges such as declining ore grades, rising costs, and complex extraction conditions, with an average of 17 years needed for a new copper mine to go from discovery to production [9][10] Strategic Importance - Copper has been classified as a 'critical metal' by several countries, including the United States, due to its essential role in various sectors [4] - The future availability of copper is deemed a matter of strategic importance, linking machinery, digital intelligence, and security systems [4] Conclusion - The study emphasizes the need for multilateral cooperation and regional diversification to ensure a resilient global copper supply system, crucial for electrification and digitalization in the age of AI [11]

Economic Indicators - Q3 nonfarm productivity is expected to increase by +4.7%, while unit labor costs are projected to rise by +0.3% [1] - Initial weekly unemployment claims are anticipated to rise by 12,000 to 211,000 [1] - December nonfarm payrolls are expected to grow by +59,000, with the unemployment rate projected to decrease by -0.1 to 4.5% [1] - Average hourly earnings for December are expected to increase by +0.3% month-over-month and +3.6% year-over-year [1] - October housing starts are expected to rise by +1.4% month-over-month to 1.325 million, and building permits are expected to increase by +1.1% month-over-month to 1.350 million [1] - The University of Michigan's January consumer sentiment index is expected to rise by 0.6 points to 53.5 [1] Labor Market - November JOLTS job openings fell by -303,000 to a 14-month low of 7.146 million, below expectations of 7.648 million [2] - December ADP employment change increased by +41,000, which is weaker than the expected +50,000 [2] - MBA mortgage applications rose by +0.3% in the week ending January 2, with the purchase mortgage sub-index down -6.2% and the refinancing sub-index up +7.4% [2] Stock Market Performance - Stock indexes are mostly higher, with the S&P 500 reaching a new all-time high and the Nasdaq 100 hitting a 3.5-week high [5] - The Dow Jones Industrial Average fell from a record high due to mixed economic news [5] - The 10-year T-note yield decreased by -2 bp to 4.15% [5] Sector Performance - Cybersecurity stocks are performing well, with Crowdstrike Holdings up more than +4% and Palo Alto Networks up more than +3% [13] - Chip makers and data storage companies are under pressure, with Western Digital down more than -7% [11] - Mining stocks are declining, with silver down more than -5% and copper down more than -3% [12] International Markets - Overseas stock markets are mixed, with the Euro Stoxx 50 down by -0.16% and China's Shanghai Composite up by +0.05% [7] - European government bond yields are decreasing, with the 10-year German bund yield dropping to a 1-month low of 2.792% [9]

Core Insights - Oroco Resource Corp. has increased its bought deal public offering to approximately C$20.0 million due to strong investor demand [1] - The offering will consist of 52,631,600 units priced at C$0.38 per unit, each unit comprising one common share and one-half of a common share purchase warrant [1][2] - An over-allotment option allows underwriters to purchase an additional 7,894,740 units, potentially raising total gross proceeds to approximately C$23.0 million if fully exercised [3] Offering Details - The offering will be completed via a prospectus supplement to the Company's short form base shelf prospectus filed in all provinces of Canada, excluding Québec [4] - The units may also be offered in the United States to qualified institutional buyers and accredited investors under specific regulations [4] Use of Proceeds - The net proceeds from the offering will be used to fund the commencement of Pre-Feasibility Study drilling at the Santo Tomás copper project, advance environmental and permitting work, and for general corporate working capital [5] Closing Information - The closing of the offering is expected around January 14, 2026, subject to customary closing conditions and regulatory approvals [6] Company Overview - Oroco holds an 85.5% interest in the Core Concessions of the Santo Tomás Project, covering 1,173 hectares, and an 80% interest in an additional 7,861 hectares, totaling 9,034 hectares [7] - The project is located in northwestern Mexico and has significant copper porphyry mineralization, with prior exploration conducted from 1968 to 1994 [7] - A drill program initiated in 2021 resulted in 48,481 meters drilled across 76 diamond drill holes [7][8]

Core Points - Oroco Resource Corp. has entered into an agreement with Canaccord Genuity Corp. for a bought deal offering of 39,474,000 units at C$0.38 per unit, aiming for gross proceeds of approximately C$15.0 million [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 an additional common share at C$0.53 for 36 months [2] - The underwriters have an over-allotment option to purchase an additional 5,921,100 units, potentially increasing total gross proceeds to approximately C$17.25 million if fully exercised [3] Use of Proceeds - The net proceeds from the offering will be used to fund the commencement of Pre-Feasibility Study drilling at the Santo Tomás copper project, advance environmental and permitting work, and for general corporate working capital [5] Project Overview - The company holds an 85.5% interest in the Core Concessions of the Santo Tomás Project, covering 1,173 hectares, and an 80% interest in an additional 7,861 hectares, totaling 9,034 hectares [7] - The project is located in northwestern Mexico and has significant copper porphyry mineralization, with prior exploration conducted from 1968 to 1994 [7] - Oroco has conducted a drill program since 2021, totaling 48,481 meters drilled in 76 diamond drill holes [7][8] Logistics and Accessibility - The Santo Tomás Project is situated 170 km from the Pacific deep-water port at Topolobampo and is accessible via highway and rail [9]

Group 1 - The Global X Copper Miners ETF (COPX) has reached a 52-week high and is up 150.1% from its 52-week low of $30.77 per share, attracting investor attention for potential momentum [1] - COPX tracks the Solactive Global Copper Miners Total Return Index, which includes companies involved in copper mining, refining, or exploration, and charges 65 basis points in fees with an annual yield of 2.63% [2] - The rise in copper prices is attributed to fears of U.S. import tariffs, leading to increased shipments to the U.S., alongside supply disruptions and strong demand driven by energy transition uses [3] Group 2 - COPX is expected to maintain its strong performance in the near term, indicated by a positive weighted alpha of 114.90, suggesting potential for further gains [4]

Core Insights - The December Global Mining Power Rankings highlighted Agnico Eagle, Aya Gold & Silver, and Gunnison Copper as top performers, driven by investor sentiment, rising commodity prices, and effective execution strategies for 2025 [1][2]. Large-Cap Companies - Agnico Eagle led the large-cap category with 11.9% of votes, benefiting from consistent production across multiple countries and strong cost control, resulting in a 116% share price increase in Toronto and 125% in New York over the past year [3][4][5]. - The company reaffirmed its 2025 production outlook of 3.3 to 3.5 million ounces of gold and reported approximately $3.1 billion in free cash flow for the first nine months of 2025, positioning it for significant shareholder returns [5][6][7]. Small-Cap Companies - Aya Gold & Silver won the small-cap title with 6.4% of votes, driven by a 160% surge in silver prices and operational achievements, including the commercial production of its Zgounder mine [11][12][13]. - The company also released a preliminary economic assessment for its Boumadine project, indicating rapid capital payback under current metals prices [13][14]. Micro-Cap Companies - Gunnison Copper topped the micro-cap category with 7.2% of votes after producing its first pure copper cathode at the Johnson Camp Mine, transitioning from developer to operating producer ahead of schedule [18][20]. - The company received approximately $13.9 million in US Department of Energy tax credits, enhancing its funding position for expanded domestic copper production [21][22].

Core Viewpoint - Element 29 Resources Inc. has achieved a significant milestone by receiving environmental certification under a Declaración de Impacto Ambiental (DIA) from the Peruvian Ministerio de Energía y Minas (MINEM), which is crucial for the application of a new drilling permit at the Elida Porphyry Copper-Molybdenum-Silver Deposit in Peru [1][2]. Company Developments - The completion of the DIA is a critical step towards obtaining a new Programa de Inicio de Actividades (PIA) drilling permit, which will expand the current drilling footprint and support the advancement of the Elida project [2][4]. - Current drilling operations at Elida are progressing well, with two drill rigs active and five drill holes completed, totaling over 4,600 meters of the planned 7,000-meter diamond drilling program [2]. - The existing PIA drilling permit, which allows for up to 20 drilling platforms, is valid until Q2 2026, while the newly approved DIA allows for up to 40 drilling platforms and is valid for five years [2][4]. Environmental and Community Engagement - The company has executed a new five-year Access Agreement with the host community, which is a requirement for the new PIA drilling permit application [3]. - A Collective Impacts Report is being prepared for submission to the Ministerio de Cultura as part of the Prior Consultation process [3]. Project Overview - The Elida deposit is located in west-central Peru, covering 22,800 hectares and is accessible from Lima [5]. - The project benefits from nearby infrastructure, including a hydroelectric generation facility located 15 km away, and is situated at a moderate elevation of 1,500 to 2,000 meters [6]. Mineral Resource Estimate - Previous drilling has identified significant Cu-Mo-Ag mineralization, with an independent pit-constrained Inferred Mineral Resource Estimate indicating 321.7 million tonnes at grades of 0.32% Cu, 0.029% Mo, and 2.61 g/t Ag [9].

Core Viewpoint - McEwen Inc. and Canadian Gold Corp. have successfully completed a business combination, enhancing McEwen's position in the gold mining sector and providing Canadian Gold shareholders with McEwen shares as part of the arrangement [1][2]. Business Combination Details - The business combination was approved by Canadian Gold shareholders on December 5, 2025, and received final court approval on December 10, 2025 [1]. - The arrangement became effective on January 5, 2026, with Canadian Gold shareholders receiving 0.0225 McEwen shares for each Canadian Gold share held [2]. Delisting and Reporting Changes - Canadian Gold shares are set to be delisted from the TSX Venture Exchange after market close on January 7, 2026, and the company will apply to cease being a reporting issuer [3]. Management Statements - Rob McEwen, Chairman and Chief Owner, expressed optimism about the exploration and development potential of the Tartan project, aiming to enhance shareholder value through accelerated exploration and mine planning [4]. Amending Agreement - An amending agreement was established to address New York Stock Exchange requirements, allowing Rob McEwen to exchange his Canadian Gold shares for subscription receipts instead of McEwen shares [5][6]. - The amendments specifically apply to Mr. McEwen and do not alter the consideration for other Canadian Gold shareholders [7]. Shareholder Information - Canadian Gold shareholders must deposit their share certificates to receive McEwen shares, with instructions provided in the information circular dated October 30, 2025 [9][10]. Company Overview - McEwen operates in the Americas, focusing on gold and silver production, and has a significant interest in the Los Azules copper development project in Argentina, valued at approximately US$456 million [12][13]. - The Los Azules project aims to be a regenerative copper mine and achieve carbon neutrality by 2038 [14].

Core Viewpoint - McEwen Inc. and Canadian Gold Corp. have successfully completed a business combination, enhancing McEwen's position in the gold mining sector and providing Canadian Gold shareholders with McEwen shares as part of the arrangement [1][2]. Business Combination Details - The business combination was approved by Canadian Gold shareholders on December 5, 2025, and received final court approval on December 10, 2025 [1]. - The arrangement became effective on January 5, 2026, with Canadian Gold shareholders receiving 0.0225 McEwen shares for each Canadian Gold share held [2]. Delisting and Reporting Changes - Canadian Gold shares are set to be delisted from the TSX Venture Exchange after market close on January 7, 2026, and the company will apply to cease being a reporting issuer [3]. Management Statements - Rob McEwen, Chairman and Chief Owner, expressed optimism about the exploration and development potential of the Tartan project, aiming to enhance shareholder value [4]. - Immediate priorities include accelerating exploration, initiating mine plan engineering, and advancing production permitting [4]. Amending Agreement - An amending agreement was established to address NYSE requirements, affecting only Rob McEwen's shares, which will now be exchanged for subscription receipts instead of McEwen shares [5][6]. - If shareholder approval is not obtained for the subscription receipts, McEwen will provide cash as consideration [6]. Shareholder Information - Canadian Gold shareholders must deposit their share certificates to receive McEwen shares, with instructions provided in the information circular dated October 30, 2025 [9][10]. Company Overview - McEwen operates in gold and silver production across the Americas, with significant projects in Nevada, Ontario, and Argentina, and is reactivating its El Gallo mine in Mexico [12]. - The company holds a 46.4% interest in McEwen Copper, which is developing the Los Azules copper project, valued at approximately US$456 million [13]. - The Los Azules project aims to be a regenerative copper mine and achieve carbon neutrality by 2038 [14].