Core Viewpoint - Canada Nickel Company has successfully closed a US$32 million bridge loan facility with Auramet International, aimed at advancing its Crawford Nickel Sulphide Project and repaying an existing loan [1] Loan Facility - The bridge loan is due on May 9, 2026, with an interest rate of 1.00% per month and a 2.5% arrangement fee [1] - Auramet received 1,750,000 one-year warrants at an exercise price of $2.03 as part of the loan agreement [1] - The loan is subject to customary terms and conditions, including specified positive and negative covenants [1] About Auramet - Auramet is a private company established in 2004, recognized as one of the largest physical precious metals merchants globally, having provided over $1.3 billion in term financing [1] - The company offers a range of services including physical metals trading, metals merchant banking, and project finance advisory [1] About Canada Nickel Company - Canada Nickel is focused on developing nickel-sulphide projects to meet the growing demand in electric vehicle and stainless-steel markets [1] - The company is pursuing the development of processes for producing net zero carbon nickel, cobalt, and iron products [1] - Canada Nickel's flagship project is the 100% owned Crawford Nickel-Cobalt Sulphide Project located in the Timmins-Cochrane mining camp [1]

Core Viewpoint - Future Mineral Resources Inc. has entered into a share purchase agreement to acquire the remaining 52% ownership interest in its nickel-zinc-lead project in Poland, aiming to consolidate 100% ownership of a significant polymetallic exploration asset in Europe, coinciding with a strengthening market for base metals and critical minerals essential for electrification and industrial growth [1][2]. Acquisition Details - The acquisition involves purchasing 100% of the issued shares of Forbes EV Metals Inc., which owns the 52% interest in Ferrite Resources Polska sp. z o.o., a private Polish company [2]. - Future Mineral initially acquired a 48% interest in the project in June 2025, and this acquisition will complete the consolidation [3]. Project Overview - The project includes the Szklary nickel deposit and the Dabrowka zinc-lead deposit, located in Poland's established mining corridor [3]. - Historical production at the Szklary site is recorded at 3.5 million tonnes with nickel grades between 1-2.5% [4]. - The Szklary project has a historic JORC inferred resource of 16.8 million tonnes at 0.60% Ni, equating to 94,000 tonnes of contained nickel, although this estimate covers only a portion of the mineral trend [4]. Exploration Plans - Future Mineral plans to conduct approximately 30 confirmatory drill holes to validate and expand historical estimates, with a proposed 24-month exploration program including geophysical surveys and environmental studies [5]. - The exploration aims to increase existing JORC-compliant mineral resources at Szklary [5]. Infrastructure and Strategic Advantages - The Szklary project benefits from existing infrastructure, including two operating smelters within 20 km, and established road and rail access, which reduces development risk [19]. - Poland's stable, mining-friendly regulatory framework supports strategic metals critical to electrification and energy security [19]. Financial Terms - The company will pay an aggregate of $2.6 million to the vendors and enter into a 36-month operating agreement with Forbes & Manhattan, Inc. at $50,000 per month [13]. - The acquisition is subject to customary conditions, including approval from the Toronto Stock Exchange and completion of an amended private placement offering [11]. Upcoming Catalysts - The anticipated closing of the acquisition and the amended offering is expected in early 2026, with ongoing drilling at both the Szklary and Dabrowka projects [11][13].

Core Viewpoint - Couloir Capital has initiated research coverage on Lion One Metals Limited with a BUY recommendation, highlighting the company's high-grade underground gold asset that is currently in ramp-up and has significant geological upside potential [1]. Group 1: Company Overview - Lion One Metals Limited is recognized for its built and operating high-grade underground gold asset, which is in the process of ramping up production [1]. - The company is perceived to be undervalued by the market due to execution and balance-sheet risks, despite having a growing operational dataset [1]. Group 2: Operational Insights - The report emphasizes that the re-rating path for Lion One Metals is primarily operational, focusing on consistent delivery in development metrics such as stope readiness, mill throughput, recovery, and unit costs [1]. - Each quarter of stable performance is expected to reduce risks associated with dilution, grade reconciliation variability, and liquidity [1]. Group 3: Research and Distribution - Couloir Capital provides institutional-quality research coverage for small-cap equities, distributing reports through various platforms including Bloomberg and FactSet [2].

Core Viewpoint - Chibougamau Independent Mines Inc. is updating shareholders on the recent drilling results from TomaGold Corporation on the Berrigan property, indicating significant mineralization and the discovery of a new semi-massive sulfide zone [1][3]. Summary by Sections Company Update - Chibougamau Independent Mines Inc. is pleased to inform shareholders about the drilling results reported by TomaGold Corporation on the Berrigan property, which is under option from Chibougamau [1]. Drilling Results - TomaGold has published assay results for drill holes TOM-25-015 and TOM-25-014, with TOM-25-015 showing a grade of 5.75% ZnEq (1.34 g/t AuEq) over 98.5 meters, indicating a new semi-massive sulfide zone that extends at depth [2][3][5]. - Drill hole TOM-25-014 reported a grade of 28.69% ZnEq (6.73 g/t AuEq) over 2.10 meters, highlighting significant mineralization [6]. Detailed Assay Breakdown - The assay results for TOM-25-014 include multiple intervals with high ZnEq and AuEq values, such as: - 28.69% ZnEq over 2.10 m - 41.79% ZnEq over 1.40 m - 23.29% ZnEq over 1.15 m - For TOM-25-015, significant intervals include: - 5.75% ZnEq over 98.5 m, with notable inclusions of 26.67% ZnEq over 4.90 m and 7.26% ZnEq over 49.35 m [4][6]. Geological Significance - The results from drill hole TOM-25-015 confirm the discovery of a new major semi-massive sulfide zone, named Berrigan Deep, which remains open at depth, suggesting the potential for a large mineralized system [6][10]. Exploration Phase - The company is currently in the initial exploration phase and does not have metallurgical data or comparative studies due to the geological complexity of the ultramafic host rock [8].

Core Insights - Globe Metals & Mining has commenced construction at the Kanyika Niobium Project in Malawi, marking a transition from feasibility and permitting to active project execution [1] - The project is fully permitted and aims to produce niobium and tantalum for advanced-materials markets [1] Project Details - The Kanyika Niobium deposit is located in the Mozambique Orogenic Belt and features four pyrochlore-bearing zones over a span of 3.5 km [2] - Initial works are underway, with a revised bankable feasibility study (BFS) expected by March 2026 and first oxide production anticipated in Q1 2028 [2] Compliance and Initial Works - The early works fulfill Globe's obligations under its Mining Development Agreement and Large-Scale Mining Licence, which require significant development activities within set timelines [3] - Initial construction activities include establishing a camp, earthworks, drainage, fencing, road upgrades, site security, stormwater controls, and water systems [3] Financial Arrangement - Globe will reimburse Sinomine for verified direct costs related to the agreed work scope and will pay a fixed monthly management fee of $20,000 (A$28,317) [4] - There are no additional fees or equity considerations, and Globe retains full ownership and control over the project [4] Project Management Framework - Under the Early Contractor Involvement framework, Sinomine will provide experienced personnel to support project refinement and risk mitigation prior to the final investment decision [4] - This includes cost validation and supplier pricing to optimize capital and operating costs, enhancing supply chain visibility and procurement efficiency [5] Strategic Transition - The commencement of early works signifies the culmination of years of technical research, permitting, and community engagement, leading to tangible progress on-site [6] - The agreement with Sinomine enables methodical pre-development, validating construction and operational cost inputs for the BFS while maintaining full ownership and control [6]

Core Viewpoint - Silvercorp Metals Inc. has successfully completed the acquisition of Chaarat ZAAV CJSC, with a payment of $92 million, and will convert ZAAV into a joint venture with Kyrgyzaltyn, holding a 70% interest [1][2]. Group 1: Acquisition Details - The acquisition of Chaarat ZAAV CJSC was finalized following the Kyrgyz government's waiver of its statutory pre-emptive right [1]. - Silvercorp will operate the joint venture company (JVC) with a 70% interest, while Kyrgyzaltyn will hold a 30% free-carried interest [2]. Group 2: Mining License and Financial Commitments - The JVC plans to extend the validity of its mining license from June 25, 2032, to June 25, 2062, with a subsequent cash payment of $60 million to the National Investment Agency [3]. - ZAAV holds a 100% interest in the mining license for the Tulkubash/Kyzyltash gold projects and surrounding exploration licenses [4]. Group 3: Company Overview - Silvercorp is a Canadian mining company focused on producing silver, gold, lead, and zinc, with a strategy aimed at generating free cash flow, organic growth, and ongoing mergers and acquisitions [6].

Core Viewpoint - Lux Metals Corp. has successfully closed the first tranche of its non-brokered private placement, raising a total of $3,750,000 through the issuance of 18,750,000 units at a price of $0.20 per unit [1]. Group 1: Financial Details - The private placement consists of units, each comprising one common share and one transferable share purchase warrant, with each warrant exercisable into one additional common share at a price of $0.40 per share until January 26, 2028 [1]. - The gross proceeds from the issuance of the units are intended for exploration costs and general working capital [2]. - The company paid finder's fees of $119,840 and issued 599,200 common share purchase warrants to finders, with the same exercise price and expiration date as the other warrants [3]. Group 2: Regulatory Information - All securities issued under the placement are subject to regulatory holds expiring on May 27, 2026 [3]. - The news release clarifies that it does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States, as the securities have not been registered under the U.S. Securities Act [4].

Production Guidance - The company provided split-year guidance indicating that the first half will include approximately 17,500 ounces of gold equivalent from existing oxide material stockpiles, requiring no additional mining [1] - Initial production guidance for the year was set at 34,000–36,000 ounces of gold equivalent, which was later raised to 36,000–38,000 ounces, ultimately exceeding expectations with a total of 39,000 ounces produced [3][5] Cost Management - The company achieved an 18% reduction in C1 costs, which encompass the operating costs to run the mine and produce an ounce of gold, positioning the operation in the first quartile of the gold cost curve at $1,244 per ounce [2] - Although all other operating costs decreased, the All-In Sustaining Costs (AISC) saw a slight increase due to rising royalties linked to higher gold and silver prices [2] Transition to Copper Production - The company is transitioning from gold and silver production to predominantly copper production, with a total production guidance of 20,000–22,000 tons of copper equivalent for the current year [4][5] - The second half of the year is expected to include a ramp-up period of approximately three months until commercial production is achieved, contributing an estimated 15,000–17,000 tons of copper equivalent [7] Project Development - The sulfide expansion project is reported to be 63% complete, on schedule, and on budget, with key equipment already on site [9] - The construction of the tailings storage facility is progressing well, with significant portions of required materials already stockpiled [10] Financial Position - The company has a financing position involving a $200 million bond, with net debt currently at $56 million and expected to be fully drawn by mid-year [13] - Ongoing cash flows from oxide production are supporting liquidity, alongside additional liquidity backstops [13] Revenue Mix Expectations - In a standard year, the company anticipates approximately 50% of revenue from copper, 25% from zinc, and 25% from gold and silver, with the current transition year expected to have a higher contribution from gold and silver due to first-half oxide production [15] Environmental and Regulatory Considerations - The company is expecting permitting for the Enriched Ore Project by year-end, which relates to processing waste stored on site [16] - Discussions are ongoing with several parties to utilize the heap leach facility for processing third-party ore after completing the processing of remaining oxide material [16] Strategic Objectives - The key objective for the year is to deliver the sulfide project on time and on budget, with potential bond refinancing opportunities anticipated in January 2027 [17] - The company is also evaluating M&A opportunities to consolidate the copper industry [18]

Core Insights - C3 Metals Inc reported high-grade drill results from the second hole at the Khaleesi project, indicating significant mineralization potential and structural complexity in the area [1][2] Group 1: Drill Results - The second hole returned a 51-metre intercept grading 0.5% copper and 0.31 g/t gold, equating to a copper equivalent of 0.86%, with an 18-metre zone grading 1.85% copper equivalent [1][2] - The second hole shows a much higher grade compared to the first hole, which had a broader intercept into a magnetite skarn, while the second hole is into porphyry-style veins overprinting garnet skarn [3][4] Group 2: Mineralization Insights - The presence of high-temperature copper sulfide minerals such as bornite and chalcocite suggests either proximity to the heat engine of the hydrothermal system or multiple mineralization pulses, both favorable for grade [4] - The project area has limited surface exposure due to a thin layer of glacial till, making it challenging to identify mineralization at the surface [6][7] Group 3: Future Exploration Plans - The company plans to follow up on the high-grade zone with additional drill holes to explore the causative intrusive source of the mineralization [5] - There is a need for scout holes based on geophysical data to explore potential mineralization beneath the glacial till, which could significantly expand the target area [7][8] Group 4: Project Development - The Khaleesi project is a new greenfield initiative with no prior drilling, and the company has undertaken extensive groundwork, including community engagement and geological mapping, before commencing drilling [8][9] - The early success in hitting high-grade mineralization in the first two holes is viewed as a significant achievement for a project with no previous drilling history [10]

Core Viewpoint - Freeport-McMoRan Inc. (NYSE:FCX) is recognized as one of the best-performing silver stocks, with analysts maintaining positive ratings and increasing price targets based on favorable market conditions for copper and aluminum [1][2][3]. Group 1: Analyst Ratings and Price Targets - JPMorgan analyst Bill Peterson has maintained an Overweight rating on Freeport-McMoRan Inc. and raised the price target from $58 to $68, reflecting improved forward pricing in the North America base metals segment [2]. - Wells Fargo also kept its Overweight rating and increased its price objective for Freeport-McMoRan from $55 to $64, anticipating a strong year for copper and aluminum in 2026 due to restricted new supply [3]. Group 2: Stock Performance - Freeport-McMoRan's stock has increased by 54.98% over the past 12 months as of January 22, 2026, indicating strong market performance [4]. Group 3: Market Insights - Analysts prefer copper over aluminum due to factors such as a declining currency and supply interruptions, which may impact pricing and demand dynamics in the metals market [2]. - The company is expected to face challenges such as substitution and demand recovery issues, particularly in the context of ongoing USMCA discussions and tariffs on imported steel and aluminum [3].