Adjustment of F&O Contracts for NMDC - The strikes of NMDC options and the base price of futures contracts will be revised due to extraordinary dividends effective February 13, 2026 [1] - All positions in futures contracts will be marked-to-market on the last cum-dividend date, February 12, 2026, based on the daily settlement price [2] - Open positions will be carried forward at the daily settlement price less ₹2.50, which is the dividend amount [2] - Daily mark-to-market settlement of futures contracts will continue as per normal procedures from February 13, 2026 [3] Example of Futures Contracts Adjustment - If 1 lot (6750 quantities) of NMDC February futures is bought at ₹85 on February 12, 2026, and the daily settlement price is ₹87, a mark-to-market profit of ₹2 per share is realized [4] - On February 13, 2026, the position will be carried forward at ₹84.50, and if the closing price is ₹86, a mark-to-market profit of ₹1.50 per share will be achieved [4] Adjustment for Option Contracts - The full value of the dividend, ₹2.50, will be deducted from all cum-dividend strike prices on the ex-dividend date [5] - Existing positions in strike prices will continue to exist in the corresponding new adjusted strike prices [5] - For instance, the strike price of the ₹85 Call Option will be reduced to ₹82.50 on February 13, 2026, while the lot size of the F&O contracts will remain unchanged [6] - Equity shareholders of NMDC as of February 13, 2026, will be entitled to receive the dividend, credited to their primary bank account within 30 to 45 days from the record date [6]

PLS Group has signed a lithium offtake agreement with Canmax Technologies, becoming the first Australian miner to secure a supply deal that guarantees a minimum price for the battery metal https://t.co/VMFribzB8a ...

Summary of Key Points from the Conference Call Industry Overview - The focus is on the **Circular Economy** and the demand for **Critical Raw Materials (CRMs)** driven by industries such as **AI/Data Centers**, **Defense**, and **Energy** [1][6][10] - The geopolitical uncertainty and rising commodity prices have heightened the need for resource efficiency and circular solutions [1][6][10] Core Insights - **Rising Demand for CRMs**: The demand for CRMs is increasing due to their critical role in AI, data centers, and defense technologies. The U.S. has a high import reliance on these materials, with 12 out of 20 key materials having over 70% import reliance [9][21] - **Price Inflation**: Over the last two years, prices for key materials have surged, with copper increasing by over 50%, silver by over 300%, and aluminum by over 400% [1][10] - **Strategic Importance of Circular Solutions**: Circular solutions are becoming essential for securing raw material supply, with a focus on recycling and resource efficiency [1][10][45] - **Government Initiatives**: The U.S. has launched initiatives like **Project Vault** and a $12 billion reserve to build inventories and reduce time to market for new supplies [1][10] Key Catalysts for Circular Solutions 1. **Supply Concerns**: Geopolitical tensions and export restrictions are driving the need for supply diversification and circular economy strategies [10][56] 2. **Commodity Prices**: Rising prices are pushing companies to focus on resource efficiency and recycling [10][56] 3. **Energy Efficiency**: Circular solutions, such as recycled aluminum, are significantly more energy-efficient compared to primary production [10][67] 4. **Regulatory Support**: Growing regulatory frameworks are promoting recycling and circular economy solutions [10][45] Industry Players and Opportunities - Companies involved in the circular economy and recycling solutions include: - **North America**: Alcoa, Century Aluminum, Steel Dynamics, Nucor, Freeport McMoRan [5] - **EU**: Boliden, Glencore, Norsk Hydro, Aurubis [5] - **ROW**: BHP, Rio Tinto, Lynas Rare Earths [5] - Significant investments in recycling facilities are being made, such as Steel Dynamics' $2.5 billion facility and Novelis' $4.1 billion facility [69] Additional Insights - **Data Center Growth**: The U.S. has 1,941 active data centers and 2,779 announced, with a projected capacity increase from 91 GW in 2024 to 277 GW by 2035 [21][24] - **Defense Industry Dependence**: The defense sector relies heavily on CRMs, with specific materials required for advanced systems [28][30] - **New Energy Technologies**: The transition to renewable energy sources requires significantly more CRMs compared to traditional energy sources [35][37] Conclusion - The combination of rising demand for CRMs, geopolitical risks, and the push for sustainability is driving the adoption of circular economy practices. Companies that focus on recycling and resource efficiency are likely to benefit from these trends.

Zijin Mining Group Conference Call Summary Company Overview - **Company**: Zijin Mining Group (Ticker: 2899.HK) - **Industry**: Greater China Materials - **Market Cap**: US$140.335 billion - **Current Stock Price**: HK$39.10 (as of February 6, 2026) - **Price Target**: HK$59.00, indicating a potential upside of 51% [5][5][5] Key Takeaways New 3-Year Plan (2026-2028) - **Production Growth**: Zijin announced a new 3-year development plan focusing on strong volume growth for copper, gold, and lithium [1][8] - **Long-Term Goals**: Aim to be a top 3 global miner for gold and copper by 2030, currently ranked fourth and fifth respectively [3][3] Production Targets - **Copper**: - Mined copper production expected to increase from 1.09 million tons (mnt) in 2025 to 1.2 mnt in 2026, reaching 1.5-1.6 mnt by 2028, with a CAGR of 12.5% [8][10] - Major growth from projects in Tibet, Serbia, and Peru [8][8] - **Gold**: - Mined gold production projected to grow from 90 tons in 2025 to 105 tons in 2026, and 130-140 tons by 2028, with a CAGR of 14.5% [8][10] - Target increase of 30 tons compared to the previous plan due to acquisitions [8][8] - **Lithium**: - Output expected to rise from 25,000 tons in 2025 to 120,000 tons in 2026, and 270,000-320,000 tons by 2028, reflecting a CAGR of 127.7% [8][10] - **Silver**: - Production forecasted to grow from 437 tons in 2025 to 520 tons in 2026, and 600-700 tons by 2028, with a CAGR of 14.2% [8][10] - **Molybdenum**: - Output expected to increase from 11,000 tons in 2025 to 15,000 tons in 2026, and 25,000-35,000 tons by 2028, with a CAGR of 39.7% [8][10] Financial Projections - **Revenue Growth**: - Projected net revenue for fiscal years ending December 2024, 2025, 2026, and 2027 are Rmb 297.821 billion, 354.428 billion, 459.015 billion, and 461.641 billion respectively [5][5] - **Earnings Per Share (EPS)**: - Expected EPS growth from Rmb 1.19 in 2024 to Rmb 3.50 in 2027 [5][5] Valuation and Risks - **Valuation Methodology**: - DCF model with a WACC of 7.5% and a steady-state revenue growth rate of 3% p.a. [11][11] - **Risks**: - Upside risks include stronger copper prices due to robust demand and project ramp-ups [14][14] - Downside risks include weaker copper prices from economic downturns and geopolitical risks affecting production [14][14] Additional Insights - **Stock Rating**: Overweight, indicating a positive outlook on the stock's performance relative to its industry [5][5] - **Industry View**: Attractive, suggesting favorable conditions for investment in the materials sector [5][5] This summary encapsulates the key points from the conference call regarding Zijin Mining Group's strategic direction, production targets, financial outlook, and associated risks, providing a comprehensive overview for potential investors.

Summary of Zijin Mining Conference Call Company Overview - **Company**: Zijin Mining (2899.HK) - **Market Cap**: HK$1,039,659 million (US$133,058 million) [4] Industry Insights - **Industry**: Mining, specifically focusing on copper, gold, lithium, zinc, silver, and molybdenum production. Key Production Guidance - **2026 Production Guidance**: - Copper: 1.20 million tons (mnt), +10% YoY - Gold: 105 tons, +17% YoY - Lithium: 120 kilotons (kt), +380% YoY - Zinc: 400 kt, flat YoY - Silver: 520 tons, +19% YoY - Molybdenum: 15 kt, +36% YoY [1][6] - **2028 Production Targets**: - Copper: 1.5-1.6 mnt, flat compared to previous guidance - Gold: 130-140 tons, +30 tons compared to previous guidance - Lithium: 270-320 kt, +20 kt compared to previous guidance - Zinc: 400-450 kt, -150 kt compared to previous guidance - Silver: 600-700 tons, flat compared to previous guidance - Molybdenum: 25-35 kt, flat compared to previous guidance [2][6] Growth Projections - **CAGR (Compound Annual Growth Rate)**: - Gold: 13-16% from 2025-2028E - Copper: 11-14% from 2025-2028E - Lithium: 121-134% from 2025-2028E [2][3] Strategic Objectives - **Global Ranking**: Zijin aims to rank in the top 3 globally for mined copper and gold output by 2028, an improvement from the previous target of 3-5th [2]. Financial Valuation - **Target Price**: HK$39.00/share based on DCF valuation with a WACC of 8.2% and a terminal growth rate of 2.5% [4][8]. Risks Identified - **Major Risks**: - Lower-than-expected gold and copper prices - Capital expenditure overruns in projects under development - Cost inflation affecting profitability - Lower than expected gold and copper output [9][11] Conclusion - **Investment Recommendation**: Maintain as a top pick due to expected growth through expansion plans and M&A activities [3].

Police in China’s eastern Shandong province were investigating the deaths of seven people in a gold mine owned by Zhaojin Mining, state broadcaster China Central Television reported https://t.co/MYUUIP6F5w ...

Market Overview - Markets have stabilized after a sharp correction due to the RBA's hawkish stance, leading to a selective recovery focused on balance sheet strength and pricing power [1][3][5] - The current market environment is characterized by a preference for businesses that can operate under restrictive policy settings, with models reliant on cheap funding under pressure [5][19] Sector Leadership - Leadership has re-emerged in materials, financials, and defensives, with high-conviction positions identified in companies such as Transmetro Corporation, Orica, and GenusPlus Group [2][20] - The materials sector remains central to investment strategies, supported by structural demand for precious and base metals, particularly gold and copper [13][15] Company Insights - **Transmetro Corporation (ASX: TCO)**: Strong balance sheet with cash exceeding debt, earnings per share (EPS) increased from $0.15 to $0.22, and revenue rose to $24.64 million, trading at a lower earnings multiple than the sector [26][27] - **Orica (ASX: ORI)**: Critical supplier to the mining industry with $8.14 billion in sales, recent equity raising strengthens the balance sheet, and analysts have raised EPS expectations [29][30] - **GenusPlus Group (ASX: GNP)**: Positioned for growth in energy transition, with a 35% increase in normalized EBITDA and strong revenue growth from major contracts [34][36] - **Perenti (ASX: PRN)**: Revenue reached $3.49 billion with over 26% year-on-year earnings growth, management's confidence reflected in share buybacks [39] - **IVE Group (ASX: IGL)**: Offers a near 6% dividend yield with stable cash generation, trading on a low earnings multiple relative to growth outlook [41][42] - **Korvest (ASX: KOV)**: Strong first-half results with double-digit revenue growth, benefiting from infrastructure activity [43][44] - **Newmont Corporation CDI (ASX: NEM)**: Preferred large-cap vehicle for gold exposure, with strong returns linked to rising gold prices [57][59] - **Emerald Resources (ASX: EMR)**: High-conviction small to mid-cap gold name with strong cash generation and growth forecasts [63][64] Investment Strategy - The market is rewarding execution, balance sheet strength, and tangible earnings, with a focus on sectors where demand is structural and pricing is global [20][65] - Selectivity is emphasized as the primary source of returns, with a preference for companies that can withstand higher capital costs [66]

Core Viewpoint - Teck Resources Limited is set to release its fourth quarter 2025 earnings results on February 19, 2026, before market opening, with a subsequent webcast for review [1]. Group 1: Earnings Release Information - The earnings results will be available before market open on February 19, 2026 [1]. - A webcast to discuss the results will take place at 8:00 a.m. PT / 11:00 a.m. ET on the same day [1]. - Investors and analysts can join a Q&A session by dialing in or pre-registering for the call [1]. Group 2: Company Overview - Teck is a leading Canadian resource company focused on providing essential metals for economic development and energy transition [2]. - The company has a portfolio of world-class copper and zinc operations across North and South America, along with a strong copper growth pipeline [2]. - Teck is committed to responsible growth and building resilience based on stakeholder trust [2].

VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / February 9, 2026 / Mako Mining Corp. ("Mako" or the "Company") (TSXV:MKO)(OTCQX:MAKOF) announces that it has postponed the Company's special meeting of shareholders (the "Special Meeting") that was originally scheduled for Tuesday, February 10, 2026. The Company and Sailfish Royalty Corp. ("Sailfish") are working to finalize a restructuring of the consideration payable for the proposed acquisition (the "Acquisition") of the Mt. ...

Earnings Overview - More than half of the S&P 500 companies have reported Q4 earnings, with 79% of the 297 companies beating expectations [1] - S&P earnings growth is projected to increase by +8.4% in Q4, marking the tenth consecutive quarter of year-over-year growth [1] - Excluding the Magnificent Seven technology stocks, Q4 earnings are expected to rise by +4.6% [1] Market Focus - The upcoming week will focus on corporate earnings results and economic news, including the Q4 employment cost index expected to rise by 0.8% [2] - January retail sales are anticipated to increase by +0.4% month-over-month, with similar expectations for sales excluding autos [2] - January nonfarm payrolls are expected to rise by +69,000, while the unemployment rate is projected to remain at 4.4% [2] Stock Market Movements - Stock indexes initially fell but recovered, with the Dow Jones Industrials reaching a new all-time high [5] - The S&P 500 Index closed up +0.47%, the Dow Jones up +0.04%, and the Nasdaq 100 up +0.77% [5] - Chipmakers and AI-infrastructure stocks rebounded, contributing to the market's recovery [5][11] Sector Performance - Mining stocks surged after gold prices increased by +2% and silver prices jumped by more than +6% [12] - Advanced Micro Devices (AMD) and Broadcom (AVGO) saw gains of more than +3%, while Nvidia (NVDA) and others also performed well [11] - Oracle (ORCL) rose by more than +9% following an upgrade, while Dynatrace (DT) reported better-than-expected Q3 revenue and raised its full-year forecast [13][14] Notable Declines - Kyndryl Holdings (KD) fell more than -55% after reporting Q3 revenue below expectations and cutting its profit forecast [16] - Monday.com (MNDY) dropped more than -21% due to a revenue forecast below consensus [16] - Cleveland-Cliffs (CLF) and Hims & Hers Health (HIMS) also experienced significant declines following disappointing earnings reports [16]