Core Viewpoint - Pomerantz LLP is investigating claims of potential securities fraud or unlawful business practices by Northern Dynasty Minerals Ltd. and its officers or directors [1] Group 1: Legal Investigation - Pomerantz LLP is representing investors of Northern Dynasty Minerals Ltd. in an investigation regarding possible securities fraud [1] - Investors are encouraged to contact Pomerantz LLP for more information regarding the investigation [1] Group 2: Stock Performance and Regulatory Actions - On February 17, 2026, the U.S. Department of Justice filed a brief supporting the Environmental Protection Agency's veto of Northern Dynasty's proposed Pebble Mine [3] - Following the DOJ brief, Northern Dynasty's stock price dropped by $0.80 per share, a decline of 39.41%, closing at $1.23 per share on February 18, 2026 [3]

Core Insights - FLINT Corp. reported full-year revenues of $563.8 million for 2025, a decrease of 20.6% from 2024, primarily due to market softness and timing of construction and maintenance work [5][10] - The company achieved an Adjusted EBITDAS of $30.6 million, down 13.8% from the previous year, but improved its Adjusted EBITDAS margin to 5.4% [5][10] - A significant highlight was the completion of a Recapitalization Transaction, which strengthened the balance sheet and reduced debt obligations, enhancing long-term financial flexibility [3][13] Financial Performance - Revenues for the year ended December 31, 2025, were $563.8 million, down $146.7 million from 2024 [5] - Gross profit was $65.8 million, a decrease of $9.2 million or 12.2% from 2024, with a gross profit margin of 11.7%, up from 10.5% in 2024 [5][10] - SG&A expenses decreased to $35.4 million, down 13.8% from 2024, but increased as a percentage of revenue to 6.3% [5][10] - Net income surged to $29.8 million, an increase of 2241.8% from 2024, primarily due to a tax recovery related to the Recapitalization Transaction [5][10] Operational Highlights - The company achieved a Total Recordable Injury Frequency (TRIF) of 0.10, marking the best safety performance in its history [3] - New contract awards and renewals totaled approximately $914.4 million for the year, providing a solid foundation for future growth [6][10] - In the fourth quarter of 2025, revenues were $128.9 million, a decrease of 31.1% from the same period in 2024 [10] Liquidity and Capital Resources - As of December 31, 2025, liquidity, including cash and available credit facilities, was $115.2 million, up from $59.7 million at the end of 2024 [5] - The company has an asset-based revolving credit facility with a maximum borrowing capacity of $50 million, maturing on April 14, 2030 [11][12] Corporate Updates - The Recapitalization Transaction completed in September 2025 involved a consolidation of shares and settlement of debt, significantly optimizing the capital structure [13] - Dean Nimmo was appointed as Vice President of Operations for the Wood Buffalo Region, expected to drive operational excellence [14] - The Chief Operations Officer, Neil Wotton, is on medical leave, with senior leaders managing his responsibilities [15]

Core Insights - Jeremy Szafron has joined Kitco News as an anchor and producer, bringing extensive experience in journalism, particularly in finance and current affairs [1][5] Group 1: Career Background - Jeremy began his journalism career in 2006 at CTV, initially focusing on entertainment before transitioning to business reporting, particularly in mining and small-cap sectors [2] - He gained recognition for his macro-financial and market trends analysis, becoming a sought-after commentator on CTV Morning Live and CTV News Network [2] Group 2: Notable Achievements - A significant milestone in Jeremy's career was his coverage of the 2010 Vancouver Olympic Games, where he highlighted the Olympic community and hosted segments from various Country Houses [3] - He developed an online video news program for PressReader, which is a digital newsstand featuring 8,000 newspaper and magazine editions in 60 languages from over 120 countries [3] Group 3: Entrepreneurial Ventures - In 2012, Jeremy launched The Green Scene Podcast, quickly amassing over 400,000 subscribers and establishing himself as a prominent voice in the cannabis industry [4] - Following this success, he created Investor Scene and Initiate Research, platforms that provide exclusive market insights and deal-flow opportunities in mining and Canadian small-caps [4] Group 4: Professional Expertise - Jeremy has served as a market strategist and investor relations consultant for various publicly traded companies across mining, energy, consumer packaged goods (CPG), and technology sectors [5] - He holds a BA in Journalism from Concordia University, which has contributed to his diverse and dynamic career in media [5]

Group 1 - The company announced an amendment to the finder's fees related to its recently closed non-brokered private placement, with revised fees amounting to $22,473 in cash and 204,300 finder's warrants [1] - All other terms of the private placement remain unchanged [2] Group 2 - Blende Silver Corp. is a junior resource company based in Vancouver, focused on silver-zinc-lead exploration and development at its flagship Blende Deposit in north-central Yukon [4] - The Blende Deposit is the largest carbonate-hosted Ag-Zn-Pb deposit in Yukon and one of the largest undeveloped Ag-Zn-Pb deposits in Western Canada, covering an area of 5,345 hectares and located 63 km northeast of Keno Hill, Yukon [4] - The property has seen over $9.2 million in past exploration, including $5.2 million spent by Blende Silver, with a total of 25,195 meters drilled across 132 drill holes [4]

Core Viewpoint - South Star Battery Metals Corp. is advancing its Santa Cruz graphite project in Brazil while deciding not to proceed with the BamaStar graphite mine in Alabama due to unfavorable project economics [4][5]. Group 1: Santa Cruz Project Update - The scrubber/trommel, essential for materials handling at the Santa Cruz mine, has been installed and testing will commence next week, expected to take four weeks for commissioning [2][3]. - The installation of the scrubber/trommel is crucial for managing varying moisture levels in the Run of Mine, enhancing the reliability and consistency of the plant [3]. Group 2: Leadership Changes - Rogerio Barcellos has been promoted to Chief Operating Officer, bringing over 20 years of experience in industrial operations across various sectors including mining and chemicals [3]. - Barcellos has a strong background in operational excellence and has held senior roles in multinational organizations, focusing on performance optimization and safety [3]. Group 3: BamaStar Project Decision - The Board of Directors has opted not to develop the BamaStar graphite mine due to project economics falling below expectations and the need to focus resources on the Santa Cruz project [4]. - The Santa Cruz operation is nearing the final stages of commissioning, marking a significant milestone for the company as it transitions to graphite production [4]. Group 4: Future Initiatives - South Star is exploring the establishment of a downstream graphite processing partnership in the United States, which could utilize graphite produced at the Santa Cruz facility [5]. - This initiative aims to enhance the overall value chain and financial returns of the company's projects [5]. Group 5: Equity Awards - The Board has granted 1,000,000 restricted share units (RSUs) to COO Rogério Barcellos, with vesting conditions tied to achieving stable production milestones of 5,000 and 10,000 tonnes of graphite concentrate per year [6]. - The first 500,000 units will vest upon achieving stable production of 5,000 tonnes per year, while the remaining units will vest upon reaching 10,000 tonnes per year [6]. Group 6: Company Overview - South Star Battery Metals Corp. is focused on developing near-term production projects in the Americas, with the Santa Cruz graphite project being the first in a series of planned projects [8]. - Brazil is the second-largest graphite-producing region globally, and the Santa Cruz project is positioned to become a new graphite producer in the Americas [8].

Core Viewpoint - Northern Graphite Corporation has successfully completed a non-brokered private placement of 7,142,858 common shares at a price of $0.28 per share, raising gross proceeds of $2,000,000 to fund exploration activities [1][2]. Group 1: Private Placement Details - The common shares issued qualify as "flow-through shares" under the Canadian Income Tax Act, allowing the proceeds to be used for eligible resource exploration expenses [2]. - The funds will be allocated to a drill program targeting potential new sources of mill feed around the Lac des Iles mine in Quebec and at the Mousseau exploration project [2]. - A finders' fee was paid to Mine Equities Ltd., consisting of 503,971 common shares and $55 in cash, with a hold period of four months and one day for the shares issued [3]. Group 2: Company Overview - Northern Graphite is the only flake graphite producer in North America, focusing on becoming a leader in natural graphite production and high-value products for the green economy, including battery materials [5]. - The company operates the Lac des Iles mine in Quebec, which is increasing output to meet rising demand from industrial customers and North American battery manufacturers [6]. - Northern also owns the advanced Bissett Creek graphite project in Ontario and the Okanjande graphite mine in Namibia, which is currently on care and maintenance, representing a potential for increased production at lower costs [6].

Core Viewpoint - The mining company has secured a financing package from four international lenders to support the $2.5 billion Rincon project in Argentina's Salta Province [1] Financing Details - The financing package will facilitate work on the Rincon project, which is a significant investment in the mining sector [1]

Core Viewpoint - Natural Resource Partners L.P. (NRP) reported a significant decline in net income and revenues for the fourth quarter of 2025, reflecting challenging market conditions across its key segments, particularly in coal and soda ash [2][4]. Financial Performance - NRP's net income for Q4 2025 was $31 million, down 27.5% from $42.8 million in Q4 2024 [2]. - Total revenues and other income were $46.7 million, a decrease of 28.9% from $65.7 million in the prior-year quarter [2]. - Basic net income per unit was $2.31 compared to $3.21 in the year-earlier period [3]. - Operating cash flow for the quarter was $44.8 million, down from $66.2 million a year earlier [3]. - Free cash flow for the quarter was $45.5 million, with total free cash flow for 2025 amounting to approximately $169 million [3][8]. Segment Performance - The Mineral Rights segment saw a decline in profitability and cash generation due to weaker coal markets, with segment net income falling by $12.6 million year over year [5]. - The Soda Ash segment reported a net income decline of $2.6 million, primarily due to weaker soda ash prices amid an oversupplied global market [6]. Management Commentary - Management noted that all three key commodities—metallurgical coal, thermal coal, and soda ash—faced weak pricing due to various market pressures [7]. - Despite these challenges, NRP generated strong cash flow and prioritized debt reduction, retiring $109 million of debt during 2025 [8]. Factors Influencing Results - Commodity price weakness significantly impacted financial performance, with metallurgical and thermal coal prices at cyclically low levels due to sluggish demand [9]. - The soda ash market is under pressure from oversupply and weak demand, with prices currently below production costs for many producers [10]. Outlook - Management anticipates continued difficult conditions across key commodity markets, with coal and soda ash prices expected to remain low [12]. - NRP's strategy focuses on generating free cash flow, reducing debt, and eventually increasing distributions to unitholders once leverage targets are met [13]. Other Developments - NRP declared a special cash distribution of 12 cents per common unit to assist with unitholder tax liabilities for 2025 [14]. - The partnership committed $39.2 million towards debt reduction at Sisecam Wyoming, reflecting its 49% share in a capital investment aimed at strengthening the joint venture's balance sheet [14].

Core Viewpoint - Hecla Mining's stock has shown significant volatility, reflecting the fluctuations in silver prices, with a notable increase in share price as silver prices rise [1][3]. Group 1: Stock Performance - Hecla Mining's shares increased by 5.8% as of 12 p.m. today, correlating with a rise in silver prices [1]. - Over the past year, silver prices have increased by 172%, while Hecla's stock price has risen by 310%, indicating a high beta relationship with silver prices [3]. Group 2: Company Strategy - Hecla Mining is focusing exclusively on silver by divesting a subsidiary that owns gold mining assets and increasing exploration and pre-development spending on silver [3]. Group 3: Market Outlook - The Silver Institute reports potential demand destruction in jewelry, silverware, and photovoltaic products due to high prices, but overall demand is expected to remain stable in 2025 due to retail investment and growing demand from AI data centers [4]. - The silver market is anticipated to remain in deficit, which is bullish for silver and Hecla Mining, although it increases reliance on retail investment to counteract declining demand in other sectors [5].

How do you measure sustainability in mining? The question sits at the centre of the Global Reporting Initiative’s (GRI) first sector standard dedicated to mining. Launched in January 2026, the GRI 14 framework aims to help mining companies report more consistently on their environmental, social and economic impacts. In this episode of Energy Technology: Industry Insights, we explore what the new standard means for an industry under growing scrutiny, from how “material” issues are defined to whether repor ...