Core Viewpoint - Electrum Discovery Corp. has entered into an arrangement agreement with MinRex Resources Limited to combine in a share exchange transaction, creating a stronger, well-capitalized exploration company with a diversified portfolio of gold and copper projects in Serbia and Australia [1][2][4]. Company Overview - Electrum Discovery Corp. is a Canadian-based company focused on advancing its two projects: the Novo Tlamino Gold Project and the Timok East Copper-Gold Project, located in the Western Tethyan Belt in Serbia [27]. - The company aims to maximize the value of its mineral projects for stakeholders while promoting sustainability and governance [28]. Transaction Details - The transaction will result in MinRex being the surviving entity, with Electrum shareholders receiving approximately 49.3% of the shares of the combined company [3][11]. - Electrum shareholders will receive about 7.9 MinRex shares for each Electrum common share held, totaling approximately 966.67 million MinRex shares to be issued [12][13]. - The combined company will have a pro forma cash balance exceeding A$8 million and no debt, enhancing its financial position [2][3]. Strategic Rationale - The merger is described as a transformational opportunity for Electrum, providing an Australian public listing and a stronger leadership team [2][4]. - The combined company will focus on unlocking value from the Novo Tlamino Gold Project, which hosts inferred mineral resources of 670,000 ounces of gold equivalent [10][11]. - The strategic combination aims to create a well-capitalized gold-copper explorer with advanced projects in two established mining jurisdictions [4][10]. Exploration Strategy - Post-transaction, the combined company will prioritize infill drilling at the Barje Deposit to support an updated mineral resource estimate [6][8]. - A drilling program of approximately 3,200 meters is planned, along with an additional 1,000 meters of step-out drilling to test potential extensions of the Barje Deposit [7][8]. - The Novo Tlamino Gold Project also has highly prospective regional gold targets, including the Karamanica Target, which has shown promising historical assay results [9][10]. Leadership and Governance - The board and management teams of both companies will combine to form a strengthened leadership team, with Dr. Elena Clarici and Michael Thomsen joining the board of directors of the combined company [15][19]. - Insiders and significant shareholders of Electrum, holding approximately 28% of the issued shares, have agreed to support the transaction [3][11]. Regulatory and Approval Process - The transaction requires approval from the Supreme Court of British Columbia and Electrum shareholders at a special meeting [14][18]. - The expected completion date for the transaction is March 2026, subject to regulatory approvals and other conditions [21][18].

Core Insights - Copper prices are surging due to tighter supplies and a risk-on sentiment in broader markets [1] - Concerns over potential US tariffs have led to increased shipments to the US, impacting global supply dynamics [2] - A strike at the Mantoverde mine in Chile highlights risks to shipments amid rising global demand [2] Supply and Demand Dynamics - Copper futures in London rallied by up to 3.5%, nearing the previous peak of just below $13,000 per ton [2] - The global refined copper market was estimated to be in surplus in 2025, but US tariffs distorted metal and inventory flows, increasing US imports [5] - Analysts predict a global copper shortage of over 100,000 tons in 2026 due to overall supply shortfalls and regional dislocation caused by tariffs [7] Market Trends - The cash-to-three month spread in London remains in backwardation, indicating near-term tightness in the copper market [6] - Copper prices rose by 3% to $12,844 per ton, while aluminum also saw a rise of 1.8% to $3,069 per ton, reflecting a tightening supply outlook [8]

Core Viewpoint - Nexus Uranium Corp. has joined the Better In Our Back Yard (BIOBY) coalition, emphasizing its commitment to responsible industrial development and community engagement in the U.S. uranium sector [1][2]. Group 1: Company Initiatives - The membership in BIOBY supports Nexus's focus on responsible mineral development, particularly as it advances its U.S. uranium portfolio, including the Chord Project in South Dakota [2]. - Nexus is pursuing inclusion in the FAST-41 program, which aims to streamline environmental reviews and permitting for infrastructure projects, potentially benefiting uranium projects that enhance U.S. energy security [3]. Group 2: Advocacy and Community Engagement - BIOBY advocates for projects that demonstrate environmental responsibility, economic value, and community collaboration, aligning with Nexus's approach to developing domestic uranium resources [2][4]. - The coalition aims to create a thriving economy while protecting the environment, recognizing the interdependence of mining, manufacturing, and local businesses [5]. Group 3: Company Overview - Nexus Uranium is a Canadian exploration company focused on uranium projects in North America, holding several projects in South Dakota and Wyoming, as well as in Saskatchewan, Canada [6].

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 have led to significant investor losses [4][6]. Group 1: Legal Investigation and Claims - The law firm is encouraging investors who suffered losses in Freeport-McMoran to contact them to discuss their legal rights, particularly those who purchased securities between February 15, 2022, and September 24, 2025 [1][4]. - A federal securities class action has been filed against Freeport, with a deadline of January 12, 2026, for investors to seek the role of lead plaintiff [4]. Group 2: Allegations Against Freeport-McMoran - 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 [6]. - Specific allegations include inadequate safety measures, which heightened regulatory, litigation, and reputational risks, rendering the company's statements materially false and misleading [6]. Group 3: Impact on Stock Price - Following the suspension of mining activities on September 9, 2025, due to a tragic incident that trapped workers, Freeport's stock price fell by $2.77, or 5.9%, closing at $43.89 per share [7]. - After the update on September 24, 2025, revealing fatalities among the trapped workers, the stock price dropped by $7.69, or 17%, closing at $37.67 per share [8]. - Additional news on September 25, 2025, regarding the strain in Freeport's relationship with the Indonesian government led to a further decline in stock price by $2.33, or 6.2%, closing at $35.34 [9][10].

Market Performance - The Dow Jones Industrial Average rose 0.7% in December, marking its eighth consecutive winning month, the longest streak since 2018 [1] - The S&P 500 slipped about 0.06% for the month, while the Nasdaq Composite finished down about 1% [1] - The final five trading sessions of December were downbeat, with the Nasdaq losing 1.3%, the S&P 500 retreating 0.9%, and the Dow Jones falling 0.7% [2] Seasonal Trends - Historically, stocks tend to rise during the final five trading days of the year and the first two sessions of the new year, a pattern now under threat [3] S&P 500 Performance - The S&P 500 rallied 24% in 2023, 23% in 2024, and 16% in 2025, resulting in an almost 80% gain over three years, marking the strongest return over a three-year win streak since 2019-2021 [4] - The S&P 500 has not posted four consecutive annual gains since the five-year run from 2003 to 2007 [5] Economic Indicators - The Federal Reserve has issued hawkish guidance for 2026, with a cooling U.S. labor market and persistent inflation [5] - The net impact of Trump tariffs remains unclear, and developed-market central banks are unlikely to cut rates at the beginning of 2026 [5] Sector Performance - Cannabis ETFs saw significant gains, with AdvisorShares Pure US Cannabis ETF (MSOS) up 35.6% and Roundhill Cannabis ETF (WEED) up 35.5% due to potential easing of federal marijuana regulations [7][8] - Silver ETFs also performed well, with abrdn Physical Silver Shares ETF (SIVR) up 25.9% and iShares Silver Trust (SLV) up 25.8%, driven by supply tightness and industrial demand [7][9] - Platinum ETFs, such as abrdn Physical Platinum Shares ETF (PPLT), rose 22.2% due to supply constraints and increased industrial usage [10] - Space ETFs, including Procure Space ETF (UFO), increased by 16.2%, bolstered by Rocket Lab's stock surge and positive developments in the space economy [11] - Copper Mining ETFs, like Global X Copper Miners ETF (COPX), rose 14.3% as copper prices hit records due to high demand and fragile supply, particularly from AI data centers [12]

NEW YORK, Jan. 2, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Freeport-McMoRan Inc. ("Freeport-McMoRan Inc." or the "Company") (NYSE: FCX) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Freeport-McMoRan Inc. investors who were adversely affected by alleged securities fraud between February 15, 2022 and September 24, 2025. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslr ...

Core Viewpoint - The Kamoa-Kakula copper smelter, the largest in Africa, has commenced production of copper anodes, marking a significant milestone for Ivanhoe Mines and the region's copper industry [1][4][14]. Production and Capacity - The Kamoa-Kakula smelter has a capacity of 500,000 tonnes of 99.7%-pure copper anodes per annum [1][14]. - The smelter's ramp-up is expected to continue throughout 2026, with completion anticipated by year-end [6][33]. - Copper production for 2026 is estimated to be between 380,000 and 420,000 tonnes, with a midpoint of 400,000 tonnes representing approximately 80% of the smelter's total capacity [6][33]. Sales and Inventory - In 2026, copper sales are projected to exceed production by approximately 20,000 tonnes due to the destocking of on-site inventory of unsold copper concentrate [9][33]. - The total unsold copper in concentrate is expected to decrease from approximately 37,000 tonnes to about 17,000 tonnes during 2026 as the smelter ramps up [9][33]. By-Products and Revenue - The smelter has also produced its first batch of by-product sulphuric acid, with an expected annual production of up to 700,000 tonnes [17][18]. - Sulphuric acid is in high demand, especially following Zambia's export ban, with spot prices reaching as high as $700 per tonne [18]. Operational Efficiency - The smelter's logistics costs are expected to halve as the copper content per truck-load exported increases from approximately 45% in concentrate to 99.7% in anodes [16][33]. - The overall copper recovery rate is projected to be 98.5% once fully ramped up [16][33]. Health and Safety - The construction of the smelter was completed with an industry-leading health and safety record, achieving only one lost time injury during 18 million man-hours worked [19][33]. Mining Operations - Stage Two dewatering of the Kakula Mine is complete, allowing for selective mining to commence ahead of schedule [21][25]. - Head grades from mining areas on the western side of Kakula are expected to increase from 3.5% copper in January to approximately 4.0% by the end of Q1 2026 [25][33].

Core Viewpoint - The rise of district-scale mining is becoming a prominent strategy in the mining industry, particularly in regions like Nevada and Peru, as companies seek to optimize resource extraction from multiple smaller deposits rather than relying on single large deposits [3][4][5][23]. Group 1: District-Scale Mining Strategy - District-scale mining is an exploration and development approach that aims to discover multiple deposits within a mineralized district, servicing them from a central processing hub [4][11]. - This strategy allows companies to mitigate initial capital expenditure challenges by developing smaller deposits that can be brought into production more quickly [2][11]. - The approach has gained traction due to rising exploration costs and a decline in large-scale, commercially viable mining deposits [5][23]. Group 2: Case Studies and Examples - i-80 Gold and Fortitude Gold are examples of companies in Nevada utilizing district-scale mining by processing gold oxide mineralization locally [1]. - Silver X is leveraging a district-scale model in Peru, with 230 mining concessions and plans for significant silver production, aiming for 6–8 million silver-equivalent ounces annually [7][10]. - Bluelake Mineral is developing a cross-border district-scale mining project in Norway and Sweden, focusing on copper and zinc deposits, with a central processing hub planned [13][15]. Group 3: Operational Considerations - The district model can be more cost-effective per tonne due to reduced duplication of processing plants and infrastructure [11][12]. - Companies must ensure that different ore bodies can be processed effectively in a single plant, which may require blending or adjustments to processing methods [17][19]. - Planning and permitting are critical challenges, especially when operating across borders, as seen in Bluelake's project [20][21]. Group 4: Future Outlook - The district-scale mining approach is expected to increase, particularly among junior miners focused on growth and value creation [22][23]. - This model is seen as essential for meeting the growing demand for critical minerals in a responsible and economically viable manner [24].

Core Viewpoint - Capstone Copper Corp. announced that Union 2 at the Mantoverde Mine in Chile will initiate strike action starting January 2, 2026, affecting approximately 50% of Mantoverde employees, which represents 22% of the total workforce [1] Company Summary - Capstone Copper Corp. is engaged in negotiations for a new collective bargaining agreement with Union 2, which has not reached a resolution prior to the strike notice [1]

Core Insights - The Global X Copper Miners ETF (COPX) has achieved an impressive 86% return over the past year, indicating a significant shift in copper's role in the global economy [1] - Factors driving the increase in copper prices are expected to persist into 2026 [1] Group 1: Trade Policy and Market Dynamics - Changes in trade policy have significantly impacted the competitive landscape for domestic copper producers, particularly affecting major holdings like Freeport-McMoRan and Southern Copper, which together represent nearly 10% of COPX's portfolio [2] - Monitoring monthly copper price reports from the London Metal Exchange and quarterly earnings from major miners is essential to assess pricing power [2] Group 2: Performance of Holdings - The strong performance of COPX is not solely attributed to its largest positions; smaller international holdings, including Canadian and Chilean miners, have also contributed to exceptional returns due to tightening global supply constraints [3] - The ETF consists of 41 companies, with the top ten holdings accounting for 59% of the portfolio [4] Group 3: Future Projections - Copper consumption is projected to reach 43 million metric tonnes by 2050, representing a 65% increase from 2022 levels, driven by sectors such as electric vehicles, renewable energy storage, and AI infrastructure [4] - It is important to monitor the fund's monthly holdings updates and quarterly rebalancing to see if management shifts towards higher-conviction positions as valuations adjust [4] Group 4: Alternative Investment Options - For investors looking for broader metals exposure with lower fees, the iShares MSCI Global Metals & Mining Producers ETF (PICK) is a viable alternative, offering a 0.39% expense ratio and 14% copper exposure alongside other metals [6] - PICK holds diversified miners like BHP, Rio Tinto, and Freeport-McMoRan, providing sector exposure without the concentrated risk associated with pure-play copper investments [6] Group 5: Key Factors to Monitor - The primary macro factor for 2026 is whether copper prices remain high amid changing trade policies, while the key micro factor is the performance of COPX's smaller international holdings in the context of ongoing supply deficits [7]