Core Insights - Midnight Sun Mining Corp. has begun trading on the OTCQX Best Market in the U.S. under the ticker symbol "MDNGF" while continuing its primary listing on the TSX Venture Exchange as "MMA" [1][2] Company Overview - Midnight Sun is focused on exploring its flagship Solwezi Project located in Zambia, which is in the Zambia-Congo Copperbelt, the second largest copper-producing region globally [4] - The Solwezi Project is surrounded by significant copper mines, including First Quantum's Kansanshi Mine, which is Africa's largest copper mining complex [4] - The company aims to find and develop Zambia's next generational copper deposit, supported by an experienced geological team with a history of discoveries and mines worldwide [4] Market Impact - The move to the OTCQX is expected to broaden the investor base and increase transparency for U.S. investors, enhancing liquidity and visibility for shareholders [2][3] - Midnight Sun has a significant and loyal shareholder base in the U.S., making this transition a logical step to build upon that foundation [2]

Kodiak Strategically Expands MPD Project with Acquisition of Adjacent Claims and Initiates Soil ProgramOctober 20, 2025 6:00 AM EDT | Source: Kodiak Copper Corp.Vancouver, British Columbia--(Newsfile Corp. - October 20, 2025) - Kodiak Copper Corp. (TSXV: KDK) (OTCQB: KDKCF) (FSE: 5DD1) (the "Company" or "Kodiak") today announces it has entered into a purchase agreement with Eagle Plains Resources Ltd. ("Eagle Plains") to acquire a claim package adjacent to Kodiak's 100% owned MPD Project ("MPD ...

Core Insights - Gold Fields Limited has elected to proceed with Stage 2 of the USD$48 million earn-in option for Torq's Santa Cecilia project, with an anticipated spend of approximately USD$11 million for drilling and property payments [1][2] - The drilling program is set to commence in early to mid-November, utilizing two drill rigs, with preparations already underway [1] - The CEO of Torq expressed excitement about the follow-up drilling, which aims to target mineralization and test additional targets based on previous successful drilling results [2] Company Update - Torq Resources Inc. is a Vancouver-based exploration company focused on copper and gold, with a portfolio of premium holdings in Chile [4] - The company is committed to responsible and sustainable exploration practices, guided by a management team with a successful track record in monetizing exploration assets [4] - The technical team includes local Chilean geologists with extensive experience and a notable history of major discoveries in the region [4]

Core Viewpoint - Eagle Plains Resources Ltd. has entered into a property purchase agreement with Kodiak Copper Corp. for the acquisition of the Ketch and Portland projects [1] Company Summary - Eagle Plains Resources Ltd. (TSXV:EPL) is involved in the mining sector and has made a strategic move by agreeing to sell its Ketch and Portland projects to Kodiak Copper Corp. [1] - Kodiak Copper Corp. (TSXV:KDK) is expanding its portfolio through this acquisition, indicating a focus on growth and development in the mining industry [1]

Report Title - Copper Weekly Report 20251019: Macro and fundamentals are intertwined, and Shanghai copper will fluctuate in the short term [1] Core View - Macro and fundamentals are intertwined, and Shanghai copper will fluctuate in the short term [1] Summary by Directory Price Data - Downstream procurement sentiment is dull, and copper spot trading is average [10] - This week, the LME copper 0 - 3M spread strengthened on a week - on - week basis [11] Fundamental Data - This week, the average price of the copper concentrate TC index was -$40.97/ton, still low [17] - The loss caused by the accident at Codelco's El Teniente copper mine was 45% higher than previously estimated [18] - The refined scrap copper price difference decreased on a week - on - week basis [20] - China's electrolytic copper production in October is expected to decrease by 3.4% month - on - month and increase by 8.7% year - on - year [22] - China imported 485,000 tons of unwrought copper and copper products in September, and the cumulative import volume from January to September decreased by 1.7% year - on - year [24] - This week, both the electrolytic copper spot inventory and bonded area inventory increased within the week [26] - LME copper inventory decreased, while COMEX copper inventory increased [27] - The operating rate of refined copper rods rebounded on a week - on - week basis but decreased year - on - year. Enterprises resumed production but were restricted by high copper prices, and consumption was weak [30] - From October 1st to 12th, the retail sales of new energy vehicles in the national passenger car market decreased by 1% year - on - year [32] - The planned production volume of photovoltaic modules in October is expected to be slightly reduced [33] - The planned production volume of household air conditioners in October decreased by 18% compared with the actual performance of the same period last year [34] Macroeconomic Data - China's new social financing in September was 3.53 trillion yuan, and new RMB loans were 1.29 trillion yuan [38] - The US ISM manufacturing PMI continued to contract in September, and the service PMI significantly missed expectations [41] - Powell left the door open for the Fed to cut interest rates, but there are differences within the Fed on the pace of rate cuts [42]

Summary of J.P. Morgan Copper Dashboard Industry Overview - The report focuses on the copper industry, highlighting global production, inventory levels, and price dynamics. Key Points 1. **Global Copper Production Growth**: - Global copper production grew by 5% year-to-date through July 2025, but recent supply disruptions are expected to decelerate this growth. Notable disruptions include Kamoa-Kakula in May, Grasberg in September, and a downgrade from Teck in October [1][2][6]. 2. **Inventory Trends**: - Despite significant mine disruptions, global copper inventories have increased to approximately 700,000 tonnes from below 500,000 tonnes in June, marking the highest levels in the last five years. A deficit is forecasted for Q4 2025, suggesting a potential reversal in inventory trends [1][2][6]. 3. **Price Dynamics**: - LME copper prices have risen by 23% this year, reaching $4.84/lb, significantly outperforming aluminum, which increased by 10%. The market is currently in slight backwardation, but tight supply-demand dynamics are expected to support prices [1][2][6]. 4. **Future Price Projections**: - J.P. Morgan's Global Commodities Team anticipates average copper prices of $12,000/tonne ($5.44/lb) in Q1 2026 and around $11,240/tonne ($5.10/lb) for 2026, driven by major supply disruptions, particularly at Grasberg [2][6]. 5. **Refined Copper Deficit**: - A significant refined copper deficit is projected, with a shortfall of 160,000 tonnes in Q4 2025 and approximately 300,000 tonnes for 2026, despite a slowdown in Chinese demand and a forecasted global refined production growth of 2.2% [2][6]. 6. **Supply Risks**: - Ongoing supply risks at key mines such as Grasberg, Kamoa-Kakula, and Quebrada Blanca have led to a downward revision of 430,000 tonnes in 2026 mine supply estimates. Additionally, scrap supply growth is expected to slow due to policy changes in China [2][6]. 7. **Equity Preferences**: - In terms of equities, J.P. Morgan continues to favor Capstone Copper (CSC) in Australia and Antofagasta in EMEA, while also being overweight on Freeport and First Quantum in North America [1][6]. Additional Insights - **Market Sentiment**: High-frequency data shows mixed signals; treatment charges (TC/RCs) show no signs of recovery, while LME net speculative positioning is trending higher, indicating increased market interest [1][2][6]. - **Copper vs. Other Commodities**: Copper has shown a strong performance compared to other commodities, with significant year-to-date movements [1][6]. This summary encapsulates the critical insights from the J.P. Morgan Copper Dashboard, providing a comprehensive overview of the current state and future outlook of the copper industry.

Core Points - Koryx Copper Inc. has successfully held a special meeting of shareholders to approve the transfer of its registered office to Luxembourg and change its legal name to Koryx Copper S.A. [1][2] - A total of 51,606,515 common shares were represented at the meeting, accounting for approximately 53.75% of the total issued shares [1] - All resolutions presented at the meeting were approved by shareholders with overwhelming support, including the continuation, financial year approval, and appointment of new directors [2] Summary by Category Company Resolutions - The resolution for the continuation of the company in Luxembourg received 51,605,932 votes in favor, representing 99.999% of the votes [2] - The acknowledgment of the share capital composition was approved with 47,699,262 votes for, which is 92.43% of the votes [2] - The approval of the company's financial year and restatement of the Articles of Association also received 51,605,932 votes for, equating to 99.999% [2] Director Appointments - The appointment of Tarik El Hanch as a new resident director in Luxembourg was approved with 51,606,412 votes for, representing 99.999% [2] - Cristina Lara was also appointed as a new resident director with the same level of support [2] Future Actions - The continuation will take effect upon obtaining authorization from the BC Registrar and after the Luxembourg notary signs the notarial deed [2][3]

Core Insights - TNR Gold Corp's Los Azules copper project has been confirmed as a low-cost, long-life, and high-purity copper cathode producer following a feasibility study by McEwen Copper [1][3][4] Project Overview - Initial production is projected at over 200,000 tonnes annually in the first five years, followed by an average of 148,000 tonnes per year over a 21-year mine life [1][4] - The cash cost is estimated at $1.71 per pound, with an all-in sustaining cost of $2.11 per pound, based on a copper price of $4.25 per pound [4] Mineral Resources - Proven and probable reserves are estimated at 10.2 billion pounds of copper, with measured and indicated resources at 5.4 billion pounds, and an additional 20 billion pounds in the third category [6] Environmental Considerations - The project is designed for low environmental impact, using approximately 70% less water than typical copper projects and utilizing renewable energy for copper production [7] Financing and Partnerships - The project has been accepted into Argentina's large investment incentive program, which offers significant tax reductions and smoother transition of goods [9] - YPF, a major Argentine power producer, is investing over $400 million to build a renewable energy line for the project, which is not included in the mine construction budget [10] - Commitments of up to $1.1 billion from economic export agencies in Europe and equipment suppliers could cover up to 80% of mechanical costs [10] Valuation and Market Activity - The potential valuation of TNR Gold's royalty at Los Azules is estimated at $30 million, with recent increases in target price from $0.28 to $0.50 by Fundamental Research Corporation [12][13] - Potential royalty revenue could reach up to $10 million, with estimated cash flow valuations exceeding $30 million from the project [14]

Core Viewpoint - Cyprium Metals Ltd is seeking shareholder approval to appoint Jim Simpson and Amber Banfield as non-executive directors to support the phased restart of the Nifty Copper Complex in Western Australia [1][2] Group 1: Board Appointments - The company will hold a shareholder meeting in late November to approve the appointments of Jim Simpson and Amber Banfield as non-executive directors [1] - Current non-executive director Ross Bhappu will retire at the conclusion of the meeting after serving for two years [1][3] Group 2: Strategic Alignment - Executive chair Matt Fifield stated that the proposed appointments align the board's skills with the company's next phase of development, particularly after a recent capital raise and work programs aimed at initial cathode production at Nifty [2] - Jim Simpson is noted for his extensive copper experience, while Amber Banfield is recognized for her strengths in governance, sustainability, and stakeholder communication [2]

Group 1 - A small Canadian company with a copper project in Alaska experienced a significant stock price increase after President Trump announced a 10% stake acquisition by the U.S. government [1] - The article highlights the impact of political decisions on stock performance, particularly in the context of the lithium and rare earth sectors [1][4] - The stock market is reacting to mixed signals from the Trump administration regarding tariffs and support for lithium projects, which raises uncertainty for companies in this sector [2][4] Group 2 - Albemarle has achieved a relative strength rating of 82, indicating strong market performance and leadership within the industry [4] - The Dow Jones Industrial Average saw a significant increase of 500 points, influenced by Trump's softened tariff stance towards China, which is affecting various sectors including rare earth stocks [4] - The ongoing Q3 earnings season is expected to bring increased market activity and potential volatility as companies report their financial results [4]