Ivanhoe Mines sees plenty of growth opportunities as “the penny has finally dropped” on the Democratic Republic of the Congo’s importance in supplying critical minerals to the US and other Western economies. https://t.co/yN3KL5YFYi ...

Capital Expenditure and Project Progress - Lithium Americas is targeting a capital expenditure of between $1.3 billion and $1.6 billion for Phase 1 of its Thacker Pass project in Nevada this year, with the majority allocated to project construction estimated at $1.2-$1.5 billion [1] - As of the end of 2025, detailed engineering design is 93% complete and procurement is at 60% [1] Employment and Workforce - The company expects to reach peak construction employment of approximately 1,800 skilled craftspeople by year-end, nearly double the number of workers compared to 2025 [2] Financing and Development Costs - The remaining capital expenditure will be allocated to "other capitalized development costs" and interest payments on a $2.23 billion loan from the Department of Energy, the largest loan given to a miner [3] - This loan supports the three-year buildout of the Thacker Pass project, which is set to become North America's next major producer of battery-quality lithium [3] Production Expectations - Once completed in late 2027, the Thacker Pass mine is expected to produce 40,000 tonnes of lithium carbonate annually, sufficient for about 800,000 electric vehicles [4] Market Conditions and Strategic Investments - The lithium market conditions are strengthening as the project prepares to come online in late 2027, with full ramp-up expected through 2028 [5] - The US government has taken a 5% stake in Lithium Americas and a separate 5% stake in the Thacker Pass project, alongside strategic investments from General Motors, which holds a 38% stake [5]

Financial Data and Key Metrics Changes - Adjusted EBITDA for Q4 2025 increased by 81% to $1.5 billion, driven by higher copper prices and increased byproduct revenue, resulting in an adjusted EBITDA margin of approximately 50% [5][15] - Full-year adjusted EBITDA improved by 48% to $4.3 billion, supported by robust cash flow from operations and a return to a net cash position [6][15] - The company returned $1.3 billion to shareholders through share buybacks and dividends in 2025 [6][26] Business Line Data and Key Metrics Changes - Copper production in Q4 2025 was the strongest of the year at 55,000 tons, reflecting a 10% increase from Q4 2024 [18] - Gross profit before depreciation and amortization for the copper segment improved by 47% to $1.1 billion, driven by higher commodity prices and lower smelter processing charges [17][18] - Zinc segment gross profit before depreciation and amortization was $305 million, 5% lower than the same period last year, primarily due to decreased Red Dog zinc sales [21][22] Market Data and Key Metrics Changes - Copper prices reached record highs in Q4 2025, with the quarterly average exceeding $5 per pound for the first time [31] - The long-term outlook for copper remains strong, driven by global electrification and increased demand for clean energy solutions [31][32] Company Strategy and Development Direction - The company is focused on becoming a global leader in critical minerals, highlighted by the announced merger with Anglo American, which will create a top five global copper producer [3][33] - The Highland Valley Mine Life Extension project is underway, expected to extend the mine's life to 2046 and produce an average of 132,000 tons of copper per annum [7][26] - The company aims to achieve steady state operations at QB by the end of 2026, with significant progress made on TMF development [10][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in operational performance and reaffirmed production guidance for 2026 to 2028 for all Teck-operated sites [4][13] - The company anticipates strong cash flow generation, particularly if current copper prices are sustained, with potential EBITDA of $6.2 billion at an average copper price of $5.50 per pound [27][28] Other Important Information - Teck achieved 100% renewable power in Chile as of October 1, 2025, enhancing its sustainability profile [8] - The company maintained a strong balance sheet with $9.3 billion in liquidity, including $5.2 billion in cash [26] Q&A Session Summary Question: Update on QB TMF timing and rock benches - Management confirmed that progress on the QB action plan is on track, with the fourth rock bench completed and the fifth bench underway, maintaining confidence in achieving steady state by the end of the year [40][42] Question: Deferred stripping CapEx normalization timeline - Management indicated that elevated deferred stripping levels are expected to continue for a few years, normalizing around 2028 [43] Question: Discussions on Collahuasi and Zafranal projects - Management confirmed ongoing discussions regarding Collahuasi and stated that the feasibility study for Zafranal is progressing well, with a decision on construction expected after completion [46][47]

Financial Data and Key Metrics Changes - In Q4 2025, adjusted EBITDA increased by 81% to $1.5 billion, driven by significantly higher copper prices and increased byproduct revenue, resulting in an adjusted EBITDA margin of approximately 50% [5][15][16] - For the full year 2025, adjusted EBITDA improved by 48% to $4.3 billion, supported by robust cash flow from operations and a return to a net cash position [6][15][16] Business Line Data and Key Metrics Changes - Copper production in Q4 was the strongest of the year at 55,000 tons, reflecting a 16,000-ton increase from Q3 2025, with gross profit before depreciation and amortization in copper improving by 47% to $1.1 billion [4][18] - Zinc segment gross profit before depreciation and amortization was $305 million, 5% lower than the same period last year, primarily due to a decrease in Red Dog zinc sales [22] Market Data and Key Metrics Changes - Copper prices reached record highs in Q4 2025, with the highest sequential quarterly price gain since early 2021, averaging over $5 per pound [33] - The long-term outlook for copper remains strong, driven by global electrification and increased demand for clean energy solutions [33][34] Company Strategy and Development Direction - The company is focused on becoming a global leader in critical minerals, highlighted by the announced merger with Anglo American, which is expected to create a top five global copper producer [3][35] - The Highland Valley Mine Life Extension project is underway, expected to extend the mine's life to 2046, producing an average of 132,000 tons of copper per annum [7][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in operational performance and reaffirmed annual production guidance for 2026 to 2028, despite some expected periodic downtime due to TMF development work [10][13] - The company anticipates strong cash flow generation, particularly if current copper prices are sustained, with potential EBITDA of $6.2 billion at an average copper price of $5.50 per pound [28] Other Important Information - The company achieved 100% renewable power in Chile as of October 1, 2025, and was recognized as one of Canada's top 100 employers for the ninth consecutive year [8] - The company maintained a strong balance sheet with $9.3 billion in liquidity, including $5.2 billion in cash, and returned $1.3 billion to shareholders through buybacks and dividends [27] Q&A Session Summary Question: Update on QB TMF timing and profile - Management confirmed that progress on the QB action plan is on track, with significant improvements in sand deposition rates and completion of the fourth rock bench, with the fifth bench already started [42][44] Question: Deferred stripping CapEx normalization timeline - Management indicated that elevated deferred stripping levels are expected to continue for a few years, normalizing around 2028 [46] Question: Discussions on Collahuasi and Zafranal projects - Management confirmed ongoing discussions regarding maximizing value from Collahuasi and stated that the feasibility study for Zafranal is progressing well, with a decision on construction expected after completion [49][50]

We envision. We deliver. Q4 - FY 2025 Financial and Operational Results Webcast February 19, 2026 NYSE: FSM | TSX: FVI We envision. We deliver. Q4 - FY 2025 Highlights FY 2025 record free cash flow from ongoing operations4 of $330 million Cash Flow & Margins Balance Sheet Strength Delivering Growth Production $704.0 M in liquidity $381.5 M net cash position Safety Cash Cost & AISC Record FCF from Operations1,4 $132.3 M Q3 2025: $73.4 M Operating cash flow before working capital of $147.6 M or $0.48/share2 E ...

Toronto, Ontario--(Newsfile Corp. - February 19, 2026) - Scandium Canada (TSXV: SCD) is pleased to announce that the Company will be presenting at Red Cloud's Pre-PDAC Mining Showcase. We invite our shareholders and all interested parties to join us. The conference will be held in-person at The Omni King Edward Hotel on February 26-27, 2026. Guy Bourassa will be present on February 26th at 4:20 PM Eastern Standard time, providing an update on the Company’s Strategy, recentdevelopments and next-phase initia ...

Financial Data and Key Metrics Changes - Record full year silver and gold production increased by 57% and 23% year-over-year, respectively, with full year record EBITDA rising 200% to over $1 billion and free cash flow increasing to $666 million from -$9 million in 2024 [3][4] - Year-end cash increased more than 10x to $554 million, and net income rose tenfold to a record $586 million [3][4] - Adjusted cash per ounce for gold and silver was $1,207 and $1,729, respectively, leading to strong margin expansion [11] Business Line Data and Key Metrics Changes - U.S. operations accounted for nearly 60% of 2025 revenue, with silver representing about 35% of total revenue [4] - Las Chispas generated $286 million of free cash flow in only 10.5 months of contribution, while Rochester's production increased 40% and 54% for silver and gold, respectively [4][12] - Kensington achieved gold production of 30,000 ounces and free cash flow of $51 million, marking its best result ever [16][17] Market Data and Key Metrics Changes - Quarterly realized gold and silver prices increased by 21% and 40%, respectively, with expectations for continued strength in 2026 [25] - The company anticipates a 10% year-over-year increase in silver production for 2026, contributing approximately 42% of total revenue based on current prices [6][25] Company Strategy and Development Direction - The company is focused on successfully closing the New Gold transaction, which is expected to enhance its geographic footprint and reduce cost profiles [7][9] - A record amount of capital is allocated to exploration investments in 2026, with a 47% increase compared to 2025 levels [28] - The long-term focus includes building consistency and momentum through operational improvements and exploration to extend mine lives [15][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong position, anticipating another record year in 2026 [6][9] - The integration of New Gold is a critical priority, with robust planning already underway [27][28] - Management highlighted the importance of maintaining safety and environmental performance as a top priority [28] Other Important Information - The company achieved its goal of being net cash positive, with total debt declining by 42% year-over-year [25][26] - Exploration investments are expected to increase to between $120 million and $136 million in 2026, focusing on high-return opportunities [22] Q&A Session Summary Question: Reserve grades at Las Chispas - Management indicated that the grade profile reflects a more conservative modeling approach, with expectations for normalization in future grades [34][36] Question: Maiden resources at East Palmarejo - All reported ounces are outside the Franco-Nevada Gold Stream area, with potential for future production [41][42] Question: Cash tax guidance breakdown - Approximately 80% of cash taxes are expected to be paid in Mexico, with some cash tax obligations in the U.S. due to limitations on tax shelters [48][50] Question: Capital returns preference - The company is considering both dividends and buybacks, with a slight preference for buybacks due to the flexibility they provide [54][55] Question: Exploration opportunities in New Gold assets - Management is looking to allocate additional capital to exploration at Rainy River post-transaction closure [57][58]

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for Energy Fuels despite lower revenues, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - Energy Fuels is expected to report a quarterly loss of $0.07 per share, reflecting a year-over-year change of +63.2% [3]. - Revenues are projected to be $27 million, down 32.4% from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised 33.33% lower in the last 30 days, indicating a reassessment by analysts [4]. - The Most Accurate Estimate for Energy Fuels is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -42.86% [12]. Earnings Surprise Prediction - A positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [10]. - Energy Fuels currently holds a Zacks Rank of 3, making it challenging to predict an earnings beat [12]. Historical Performance - In the last reported quarter, Energy Fuels was expected to post a loss of $0.08 per share but delivered a loss of -$0.07, resulting in a surprise of +12.50% [13]. - Over the past four quarters, the company has only beaten consensus EPS estimates once [14]. Conclusion - Energy Fuels does not appear to be a compelling candidate for an earnings beat, and investors should consider other factors before making decisions [17].

Core Viewpoint - BHP has successfully transitioned its portfolio towards future-facing commodities, particularly copper, which has surpassed iron ore earnings for the first time, indicating a significant shift in the global economic landscape from the Iron Age to the Copper Age [1][5][3] Financial Performance - BHP's underlying profit increased by 22% to $6.2 billion, with copper earnings (EBITDA) reaching $7.95 billion, surpassing iron ore earnings of $7.5 billion [2][5] - The company declared a 73-cent interim dividend, a 46% increase year-over-year, reflecting confidence in future cash flows [11] Market Dynamics - The demand for copper is experiencing an inelastic shock due to the rapid expansion of AI data centers, which require significantly more copper than traditional data centers [7][8] - The U.S. government's Project Vault, a $12 billion initiative to stockpile critical minerals, is reinforcing a price floor for copper, benefiting producers like BHP [9] Operational Stability - BHP has achieved record throughput at its Escondida mine, distinguishing itself from competitors facing operational disruptions [14] - The company is seen as a reliable investment in the copper sector, offering operational stability compared to rivals like Freeport-McMoRan and Rio Tinto [16] Strategic Positioning - BHP's capital allocation strategy, including a $4.3 billion silver streaming deal, allows it to fund copper expansion without increasing debt or diluting shareholders [12][13] - The company is positioned as a cornerstone stock for the next phase of the global economy, leveraging its role in the digital infrastructure [18]

Core Viewpoint - Caledonia Mining Corporation hosted the Zimbabwe Mining Forum, emphasizing its commitment to the mining sector in Zimbabwe and fostering discussions among key stakeholders in the industry [1] Group 1: Event Details - The Zimbabwe Mining Forum took place on February 10, 2026, at the Radisson Collection Hotel Waterfront in Cape Town [1] - Approximately 150 mining professionals, investors, and government officials attended the event, indicating strong interest in Zimbabwe's mining sector [1] Group 2: Key Speakers - Mr. Pfungwa Kunaka, Permanent Secretary for the Ministry of Mines and Mining Development, delivered the keynote address, highlighting government perspectives on the mining industry [1] - Mr. George Guvamatanga, Permanent Secretary of the Ministry of Finance, Economic Development and Investment Promotion, also provided remarks, showcasing the financial and economic aspects of mining in Zimbabwe [1]