Market Overview - U.S. stock markets experienced their worst day since the onset of the Iran war, with the S&P 500, Dow, and Nasdaq dropping approximately 1.5% [1] - Despite the turmoil, U.S. stocks have shown relative calm compared to Asian and European markets, possibly due to investor expectations that President Trump may de-escalate U.S. involvement in the conflict [1] Oil Market Dynamics - The oil market has seen unprecedented volatility, with Brent crude prices experiencing a record $35 intraday move, reaching nearly $120 per barrel before falling below $90 [1] - Prices spiked 9% on Thursday, surpassing $100 per barrel, amid threats from Tehran that crude could reach $200 [1] - The International Energy Agency announced a 400-million-barrel reserve release, the largest collective drawdown ever, but this is viewed as a temporary solution [1] Consumer Impact - U.S. consumers are facing rising energy costs, with average gasoline prices increasing by 20% since the war began, reaching $3.58 per gallon [1] - The consumer price index rose by 2.4% year-over-year, remaining unchanged from the previous month, indicating inflationary pressures [1] Central Bank Responses - Major central banks, including the Federal Reserve and the European Central Bank, are scheduled to meet next week, with the Reserve Bank of Australia expected to raise interest rates [1] - Market participants are keen to understand policymakers' strategies in response to the ongoing crisis [1] Private Credit Market Concerns - JPMorgan has reported markdowns on some loans to private credit funds, raising concerns about risks in the private credit market reminiscent of the 2007-09 financial crisis [1] - This situation highlights the potential for hidden risks in financial markets during exogenous shocks [1]

Core Viewpoint - First Quantum Minerals has agreed to sell its Çayeli mine in Türkiye to Cengiz Insaat for $340 million, reflecting a strategic portfolio management decision by the company [1][3]. Group 1: Transaction Details - Cengiz Insaat will purchase the Çayeli mine for $340 million (Tl15.03 billion), with an advance payment of $50 million made at the announcement [1]. - The transaction is subject to regulatory approvals and is expected to be completed in the second or third quarter of 2026 [2]. - The Çayeli mine has been operational since 1994, producing copper and zinc concentrates, and has a newly identified mineral resource that extends its operational life until 2036 [2]. Group 2: Company Strategy and Operations - First Quantum's CEO highlighted the dedication of employees and a strong safety culture as key factors in the mine's performance [3]. - The sale is part of First Quantum's disciplined approach to portfolio management, allowing the company to focus on its core strategic priorities [3]. - First Quantum is involved in the production of copper, nickel, and gold, and operates mines in Zambia, Türkiye, and Mauritania [3]. Group 3: Financial Advisory - BMO Capital Markets acted as the financial advisor for First Quantum in this transaction, while Simmons & Simmons provided legal advice [3].

Sebastian Raedler, head of European equity strategy at Bank of America, says risk premia at a 20-year low are "not appropriate" given geopolitical tensions, a weak US labor market and pressures in the credit space. Should risk premia go up further, banks, semiconductors and miners will come "under more pressure on the benchmark." He speaks on Bloomberg Television. ...

Illicit mining caused the landslide on March 11 that “led to fatalities and injuries,” Boss Mining SAS said in a statement Thursday https://t.co/ndmiB8U11W ...

Core Viewpoint - Workers at Glencore's copper refinery in North Queensland have initiated a strike due to unresolved disputes over wages and working conditions after nearly a year of negotiations [1] Company Summary - Glencore operates 20 active mining operations in Australia, focusing on zinc, copper, silver, and other minerals, employing approximately 17,000 people [1] Industry Context - The Australian Workers' Union (AWU) has indicated that the strike is a response to Glencore's refusal to provide a wage increase that aligns with the rising cost of living [1] - The union has stated that if Glencore does not improve its wage offer, further actions may be taken in the future [1]

Core Viewpoint - Coloured Ties Capital Inc. (CTI) has filed an Early Warning Report regarding its acquisition of common shares in LaFleur Minerals Inc. and subsequent changes in ownership due to private placements by LaFleur [1][6]. Group 1: Acquisition Details - On June 5, 2025, CTI acquired 2,474,526 common shares of LaFleur at a price of $0.15 per share, totaling approximately $371,178.90 [2]. - Following this acquisition, CTI's ownership increased to 19,838,237 common shares, representing about 31.24% of LaFleur's issued and outstanding shares [2]. Group 2: Ownership Changes - After a private placement on September 10, 2025, CTI's ownership share decreased from 31.76% to 29.03% of LaFleur's issued and outstanding shares [3]. - Following another private placement and flow-through offering on December 30, 2025, CTI's ownership further decreased from 28.39% to 24.18% of the issued and outstanding shares [4]. Group 3: Investment Intentions - The common shares were acquired for investment purposes, and CTI may adjust its ownership based on market conditions and other investment opportunities [5].

Core Insights - Teck Resources Limited has released its 2025 Sustainability Report, emphasizing its performance in community support, Indigenous Peoples, health and safety, diversity, and climate initiatives [1][2] - The report aligns with Global Reporting Initiative (GRI) Standards and is prepared according to the Mining and Metals Sector Standard GRI 14: Mining and Metals Sector 2023, as well as the Sustainability Accounting Standards Board (SASB) Standards [2] - The company is committed to responsibly providing critical minerals for global development and energy transition while advancing a proposed merger with Anglo American plc [2] Company Overview - Teck is a leading Canadian resource company focused on providing essential metals for economic development and energy transition, with a strong portfolio of copper and zinc operations across North and South America [8][9] - The company aims to create long-term value through responsible growth and stakeholder trust [9] Compliance and Standards - The report conforms to the International Council on Mining and Metals (ICMM) member requirements, including the implementation of ICMM Mining Principles and the Mining Association of Canada's Towards Sustainable Mining (MAC TSM) Protocols [3]

Core Viewpoint - Rio Tinto has confirmed the death of an employee from a contracting company at Bingham Canyon Mine in Utah, expressing deep regret and condolences to the affected parties [1][2]. Group 1: Incident Details - The incident occurred on Thursday, March 12, leading to the tragic loss of an employee [1]. - All surface and underground mining operations at Kennecott have been suspended following the incident [3]. Group 2: Company Response - Rio Tinto's Chief Executive Simon Trott expressed devastation over the loss and emphasized the company's commitment to safety [2][3]. - The company is collaborating with relevant authorities and contractor partners to conduct a thorough investigation into the incident [2]. - Support services, including counseling, are being provided to team members affected by the tragedy [3].

Core Thesis - United States Antimony Corporation (UAMY) is viewed positively due to its strategic joint venture with Americas Gold and Silver Corporation, which is expected to enhance its position in the domestic antimony supply chain [3][4][8] Company Overview - UAMY produces and sells antimony, zeolite, and precious metals in the United States and Canada [3] - As of March 11th, UAMY's share price was $10.51, with trailing and forward P/E ratios of 33.93 and 41.15 respectively [1] Joint Venture Details - The joint venture will be owned 51% by Americas Gold and Silver and 49% by UAMY, with UAMY acting as the managing partner [4] - UAMY will contribute its proprietary Alkaline Selective Leaching (ASL) technology, while Americas Gold and Silver will provide land, infrastructure, and ore from its Galena Complex in Idaho [4] Project Significance - The Galena property is located in the Coeur d'Alene Mining District and produced approximately 561,000 pounds of contained antimony in 2025 [5] - The joint venture aims to build a commercial-scale hydrometallurgical processing facility to convert ore into finished antimony products, thereby unlocking additional revenue streams [5] Technology and Economic Impact - UAMY's ASL technology enables over 99% antimony recovery while maintaining high recovery rates for silver and copper, allowing for the processing of lower-grade ores [6] - The project is estimated to cost around $44 million, with potential funding from government grants due to its strategic importance to U.S. critical mineral supply chains [6] Future Outlook - The facility is expected to be operational by 2027 or 2028, providing a reliable domestic feedstock source and reducing reliance on foreign processing [7] - The joint venture structure is designed to manage capital risk while scaling production [7] Market Position - UAMY is not among the 40 most popular stocks among hedge funds, with 18 hedge fund portfolios holding UAMY at the end of the fourth quarter, an increase from 12 in the previous quarter [9]

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company operates with a team of experienced and qualified news journalists across key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content delivered by the company includes insights across various sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans to maintain quality and best practices in content production [5]