Vancouver, British Columbia--(Newsfile Corp. - July 14, 2025) - Eureka Lithium Corp. (CSE: ERKA) (OTCQB: UREKF) (FSE: S58) ("Eureka Lithium" or "Eureka" or the "Company") pleased to announce that it has entered into debt settlement agreements with certain service providers (the "Creditors"), pursuant to which the Company has agreed to settle an aggregate amount of $99,450.00 in outstanding bona fide debt (the "First Debt Settlement"). The Company and the Creditors have agreed to settle the Debt through the ...

Core Viewpoint - Standard Lithium is currently not a lithium miner as it has not yet started extracting lithium, but it saw a 6% increase in stock price following a recommendation from Raymond James [1][3]. Group 1: Analyst Coverage - Raymond James initiated coverage of Standard Lithium with an outperform rating and set a 12-month price target of $2.75 [3][4]. - The analyst highlighted that Standard Lithium is a leader in Direct Lithium Extraction and is focused on advancing its lithium-brine projects in the U.S. [4]. Group 2: Stock Valuation and Market Performance - Despite the outperform rating, the price target of $2.75 represents less than 2% potential upside from the stock's trading price of $2.71 at the time of the recommendation [5][6]. - Following the recommendation, the stock price increased to $2.88, raising questions about the rationale behind the buy recommendation given the limited upside [5][6]. Group 3: Comparison with Competitors - Standard Lithium is currently unprofitable, while there are profitable lithium companies such as Albemarle, SQM, and Rio Tinto available for investment [6].

Report Industry Investment Rating - Not provided in the content Core Viewpoints - The lithium ore, lithium salt, and battery cell markets are under significant inventory pressure, and the de - stocking process is slow. The medium - and long - term supply - demand imbalance has not been substantially alleviated [3]. - There are two short - term logics in the market. In the price - decline cycle, a negative feedback loop of "lithium salt price drop - ore price loosening - lithium salt price drop again" may occur. When the futures price rebounds, a step - by - step upward chain of "futures price rise - production capacity release - increased ore consumption - ore price increase" may form, but it will eventually return to the oversupply fundamentals [3]. - The futures market in the second half of the year is expected to be divided into two stages: the futures price will fluctuate upward at the beginning of the third quarter due to improved macro - sentiment, supply disruptions, and the "not - so - off - season" phenomenon; in the fourth quarter, the futures price will fluctuate downward as technological upgrades end and production output is released [3]. - Strategy suggestions: conduct a long - LC2509 and short - LC2511 calendar spread; short LC2511 at high prices [3] Summary by Directory 1. Futures Data - **Price and Volatility**: The predicted price range of the lithium carbonate futures main contract is 60,000 - 70,000 yuan/ton, with a current 20 - day rolling volatility of 19.2% and a historical percentile of 17.6% over three years [2]. - **Contract Data**: The closing price of the lithium carbonate futures main contract is 64,180 yuan/ton, down 220 yuan (- 0.34%) from the previous day; the trading volume is 398,022 lots, up 47,897 lots (13.68%); the open interest is 323,683 lots, down 3,212 lots (- 0.98%). For the LC2511 contract, the closing price is 63,920 yuan/ton, down 160 yuan (- 0.25%); the trading volume is 38,236 lots, up 7,655 lots (25.03%); the open interest is 99,240 lots, up 4,881 lots (5.17%) [9]. - **Month - spread Data**: The LC08 - 11 month - spread is 600 yuan, unchanged from the previous day; the LC09 - 11 month - spread is 260 yuan, down 60 yuan (- 19%); the LC11 - 12 month - spread is - 320 yuan, down 220 yuan (220%) [12]. 2. Spot Data - **Lithium Ore**: The latest average prices of lithium mica with different Li₂O contents (2 - 2.5%, 3 - 4%, 5 - 5.5%) are 1,405 yuan/ton, 2,540 yuan/ton, and 4,995 yuan/ton respectively, with daily increases of 20 yuan (1.44%), 25 yuan (0.99%), and 45 yuan (0.91%). For lithium辉石 with Li₂O:6% (Brazil CIF, Australian CIF, fastmarkets), the prices are 670 US dollars/ton, 675 US dollars/ton, and 675 US dollars/ton, with daily increases of 0 US dollars (0%), 5 US dollars (0.75%), and 5 US dollars (0.74%). The price of phospho - lithium - aluminum stone (Li₂O:6 - 7%) is 4,565 yuan/ton, up 65 yuan (1.44%). The US dollar - to - RMB exchange rate is 7.1771, down 0.0031 (- 0.04%) [16]. - **Lithium Carbonate and Lithium Hydroxide**: The latest average prices of industrial - grade lithium carbonate and battery - grade lithium carbonate are 62,050 yuan/ton and 63,650 yuan/ton respectively, both up 350 yuan (0.57% and 0.55%). The prices of industrial - grade lithium hydroxide and battery - grade lithium hydroxide (micropowder) are 51,970 yuan/ton and 62,570 yuan/ton respectively, unchanged. The price of battery - grade lithium hydroxide (CIF China, Japan, and South Korea) is 8 US dollars/kg, down 0.05 US dollars (- 0.62%); the price of battery - grade lithium hydroxide CIF China, Japan, and South Korea (fastmarkets) is 8.00 US dollars/kg, unchanged [19]. - **Lithium Industry Chain Spreads**: The battery - grade lithium carbonate - industrial - grade lithium carbonate spread is 1,600 yuan/ton, unchanged; the battery - grade lithium hydroxide - battery - grade lithium carbonate spread is - 1,080 yuan/ton, down 350 yuan (47.95%); the battery - grade lithium hydroxide CIF Japan and South Korea - domestic spread is - 212 yuan/ton, down 382.51 yuan (- 224.33%) [21]. - **Downstream Products**: The latest average prices of power - type, low - end energy - storage type, and mid - to - high - end energy - storage type lithium iron phosphate are 31,030 yuan/ton, 27,360 yuan/ton, and 29,605 yuan/ton respectively, with daily increases of 80 yuan (0.26%), 80 yuan (0.29%), and 85 yuan (0.29%). The price of lithium manganese iron phosphate is 43,150 yuan/ton, up 50 yuan (0.12%). For ternary materials (523 - type for consumption, 622 - type for consumption, 811 - type for power), the prices are 106,100 yuan/ton, 111,050 yuan/ton, and 142,850 yuan/ton, with daily increases of 140 yuan (0%), 30 yuan (0.03%), and 70 yuan (0.05%). The price of lithium hexafluorophosphate is 51,050 yuan/ton, down 500 yuan (- 0.97%). The prices of electrolytes for lithium iron phosphate, lithium - iron energy - storage, lithium - iron power, and ternary power are 17,800 yuan/ton, 16,900 yuan/ton, 19,300 yuan/ton, and 21,750 yuan/ton respectively, all down 150 yuan (- 1%) [23][24]. 3. Basis and Warehouse - receipt Data - **Basis**: The basis quotes of lithium carbonate brands such as Shengxin Lithium, Tianqi Lithium, Ganfeng Lithium, etc., for the LC2507 contract range from - 400 yuan to 500 yuan, with no daily changes. The four - material comprehensive basis quote for the LC2507 contract is 162.5 yuan, unchanged [27]. - **Warehouse - receipt Quantity**: The total number of warehouse receipts is 13,281, down 90 from the previous day. The warehouse - receipt quantities of some warehouses have changed, such as a decrease of 60 in Suining Tiancheng and an increase of 30 in Cosco Shipping Nanchang [32]. 4. Cost and Profit - Not elaborated in detail in the content, only provides some profit trend charts including production profit from外购锂辉石精矿 (Li₂O:6%), production profit from外购锂云母精矿 (Li₂O:2.5%), theoretical delivery profit, and import profit [30]

Report Summary 1. Report Industry Investment Rating - No investment rating information is provided in the report. 2. Report's Core View - The report focuses on the fundamentals of lithium carbonate, including price, volume, and inventory data, as well as macro and industry news, and the trend strength is neutral [1][2][3]. 3. Summary by Relevant Catalogs 3.1 Fundamental Data of Lithium Carbonate - **Futures Market**: The closing prices of the 2509 and 2511 contracts increased, with the 2509 contract at 64,400 and the 2511 contract at 64,080. The trading volumes of both contracts decreased, and the open interest of the 2509 contract decreased while that of the 2511 contract increased slightly. The warehouse receipt volume increased by 626 to 13,281 [1]. - **Spot Market**: The price of battery - grade lithium carbonate was 63,300, up 400 from the previous day, and the price of industrial - grade lithium carbonate was 61,700, also up 400. The price difference between electric and industrial lithium carbonate was 1,600 [1]. - **Raw Materials**: The price of lithium spodumene concentrate (6%, CIF China) was 666, up 8, and the price of lithium mica (2.0% - 2.5%) was 1,385, up 30 [1]. 3.2 Macro and Industry News - SMM's battery - grade lithium carbonate index price was 63,219 yuan/ton, up 431 yuan/ton from the previous day. The average price of battery - grade lithium carbonate was 63,300 yuan/ton, up 400 yuan/ton, and the average price of industrial - grade lithium carbonate was 61,700 yuan/ton, up 400 yuan/ton [2]. - Premier African Minerals restarted the operation of the Zulu lithium - tantalum project in Zimbabwe. The project has estimated mineral resources of 526,000 tons of lithium carbonate equivalent and 1,025 tons of tantalum pentoxide. The company aims to supply lithium concentrate to Tianhua New Energy, with a monthly supply of at least 4,000 tons starting from April 2025 [3]. 3.3 Trend Strength - The trend strength of lithium carbonate is 0, indicating a neutral outlook [3].

Core Viewpoint - Fury Gold Mines Limited announced positive drill results from its maiden drill program at the Ninaaskumuwin lithium discovery, indicating significant lithium mineralization and potential for further exploration [1][2]. Group 1: Drill Results - The maiden drill program totaled 825 meters in 5 holes, targeting a spodumene-bearing pegmatite outcrop with surface samples showing up to 3.92% Li2O [1]. - Highlights include 32.35 meters of 1.16% Li2O from hole EE24-003 and 22.48 meters of 1.19% Li2O from hole EE24-002 [1][3]. - The lithium mineralized spodumene-bearing pegmatite remains open at depth and along strike, suggesting the need for additional drilling [1][4]. Group 2: Project Location and Infrastructure - The Ninaaskumuwin lithium discovery is located on Fury's 100% owned Elmer East project, covering approximately 45,735 hectares [2]. - The project is easily accessible from the paved Billy Diamond highway, about 60 kilometers north of a rest stop with necessary amenities [2]. - It is situated approximately 50 kilometers north of Rio Tinto's Galaxy Lithium project, which is currently under construction [2]. Group 3: Geological Characteristics - Thick spodumene-bearing pegmatite was intersected in three holes, confirming vertical continuity of lithium mineralization to 150 meters below the surface [4]. - The pegmatite is composed of quartz, plagioclase, potassic feldspar, and spodumene, with spodumene observed as large elongated crystals [6]. - Geophysical and geological mapping indicates a potential strike length of up to 3.8 kilometers for the spodumene-bearing pegmatite [5]. Group 4: Management Commentary - The CEO of Fury expressed satisfaction with the drill results, highlighting the value created through the acquisition of Quebec Precious Metals and the potential for further exploration in the James Bay region [2]. - The Senior Vice President of Exploration noted the encouraging initial results and the strategic location of the discovery near established infrastructure [10].

Core Points - Lithium Argentina AG will release its second quarter 2025 earnings results on August 11, 2025, before market open [1] - A webcast and conference call will be held on the same day at 10:00am ET to discuss the earnings results [1] - The webcast will be accessible through the Investor Relations section of the company's website [1] Company Overview - Lithium Argentina operates the Cauchari-Olaroz lithium brine operation in Argentina in partnership with Ganfeng [2] - The company is advancing additional lithium resources in the region [2] - Lithium Argentina is listed on both the TSX and NYSE [2]

Investment Rating - The report provides a "Buy" rating for companies IGO, NST, NEM, CMM, BGL, VAU, WGX, and PNR, while recommending a "Sell" rating for MIN and RRL [4]. Core Insights - The report highlights the potential upside for various companies based on their current pricing and NAV valuations, with IGO showing a 2% downside to its price target and NST having a 14% upside [4]. - The report emphasizes the strong performance of gold and lithium sectors, with specific companies positioned favorably for growth [4][8]. Company Summaries - **IGO**: Rated "Buy" with a market cap of US$2.1 billion, current price A$4.32, and a 12-month price target of A$5.03, indicating a 2% downside [4]. - **NST**: Rated "Buy" with a market cap of US$17.4 billion, current price A$18.56, and a 12-month price target of A$22.53, indicating a 14% upside [4]. - **NEM**: Rated "Buy" with a market cap of US$66.7 billion, current price A$90.58, and a 12-month price target of A$98.83, indicating a 7% upside [4]. - **CMM**: Rated "Buy" with a market cap of US$2.7 billion, current price A$9.44, and a 12-month price target of A$10.09, indicating a 6% upside [4]. - **BGL**: Rated "Buy" with a market cap of US$0.9 billion, current price A$0.93, and a 12-month price target of A$0.97, indicating a 29% upside [4]. - **MIN**: Rated "Sell" with a market cap of US$3.2 billion, current price A$24.44, and a 12-month price target of A$20.30, indicating an 18% downside [4]. - **RRL**: Rated "Sell" with a market cap of US$2.2 billion, current price A$4.53, and a 12-month price target of A$4.24, indicating a 1% downside [4]. Commodity & FX Forecasts - The report includes forecasts for various commodities, with gold expected to reach US$3,503 per ounce in Q4 2025 and lithium carbonate projected at US$8,005 per ton in 2025 [8]. - Nickel prices are forecasted to stabilize around US$7.17 per pound in Q4 2025, while copper is expected to be around US$4.52 per pound [8].

Core Viewpoint - Wealth Minerals Ltd. has entered into a Memorandum of Understanding with Voith Hydro to jointly develop the Pabellón Lithium Project in collaboration with the Quechua Indigenous Community of Ollagüe [1][2]. Group 1: Partnership and Project Structure - Voith Hydro will own 5% of Wealth's mineral exploration licenses in the Pabellón area, while Kuska Minerals SpA, 95% owned by Wealth and 5% by the Quechua community, will hold 95% of the Pabellón Lithium Project [2]. - A joint venture (JV) will be established where Kuska Minerals SpA will own 95% of the project and Voith Hydro will own the remaining 5% [2]. Group 2: Project Development and Technology - Voith Hydro will leverage its expertise to apply for a Special Lithium Operating Contract (CEOL), which is essential for developing a lithium recovery circuit at the Cerro Pabellón thermal power generation station [3]. - The project aims to utilize Direct Lithium Extraction technology, enhancing the efficiency of lithium recovery [4]. Group 3: Company Background and Market Position - Wealth Minerals is focused on acquiring and developing lithium projects in South America, positioning itself to benefit from the increasing demand for lithium due to structural issues in the industry [7][8]. - The company aims to advance battery metal projects where it has a competitive advantage in project selection and evaluation [8].

Industry Overview - Copper production globally amounts to 26 million metric tons annually, with three-quarters used in electrical wiring, highlighting its critical role in technology and infrastructure [2][3] - The rise of artificial intelligence (AI) has increased demand for various materials, including rare earth metals, which are now significant in the U.S.-China trade dynamics [4] Company Insights - Albemarle Corp. (ALB) is identified as a leading lithium miner, currently trading at 0.8 times book value, significantly below its long-term average, making it a potential investment opportunity [7][8] - ALB is expected to maintain 20% EBITDA margins and positive free cash flow, indicating resilience despite current market pressures [8] - Plug Power Inc. (PLUG) has seen a drastic decline in stock price, down 91% from previous highs, but recent developments in AI and hydrogen fuel cell technology may present a turnaround opportunity [14][15][17] - USA Rare Earth Inc. (USAR) is positioned to capitalize on the growing demand for rare earth materials, with projected revenues increasing from $39 million next year to $166 million by 2027 [22][25] Market Trends - The lithium market is currently experiencing a glut due to overproduction by Chinese miners, leading to an 80% price drop, which may persist into the next year [6] - The demand for utility-scale batteries is rising as AI data centers require substantial backup power, creating opportunities for companies like Albemarle and Plug Power [9][10] - The U.S. reliance on China for rare earth minerals is significant, with USAR aiming to reduce this dependency through domestic production [22][25]

Core Viewpoint - Jiangxi Ganfeng Lithium Co., Ltd. has successfully acquired the remaining 40% stake in Mali Lithium B.V. for USD 34.27 million, enhancing its lithium resource supply and operational capabilities [1] Group 1: Acquisition Details - The company approved the acquisition of Mali Lithium's stake during the 78th meeting of the fifth board of directors on May 6, 2025 [1] - The acquisition was executed through Ganfeng International, a wholly-owned subsidiary, using its own funds [1] - The total payment for the acquisition has been completed, and the share transfer has been finalized, resulting in the company holding 100% of Mali Lithium [1] Group 2: Operational Impact - Mali Lithium's Goulamina spodumene project has commenced production with an annual capacity of 506,000 tons of lithium concentrate [1] - The establishment of a shipping route for lithium ore exports from Mali to China has been successfully initiated, marking a significant step in the company's resource layout in Africa [1] - This acquisition is expected to provide a stable and high-quality lithium resource supply, improving the company's self-sufficiency in lithium resources and enhancing profitability [1]