Economic Outlook - A worsening earnings picture is leading to a negative outlook for Chinese equities, with concerns that Lunar New Year holiday spending may not be sufficient to boost earnings [1] - Corporate profit pre-announcements indicate a "major deterioration" for Q4 2025, with negative alerts outnumbering positive ones by 14.8% among over 2,000 A-share companies [4] Consumer Demand - Economic indicators highlight weak consumer demand as government stimulus programs are being scaled back, contributing to concerns about the upcoming holiday's impact on earnings [2][6] - China's economic growth slowed to 4.5% last quarter, marking the weakest pace since the end of Covid lockdowns, with producer prices falling 1.4% year-on-year [5] Market Sentiment - Sentiment towards Chinese stocks is currently weak, influenced by investor caution before the long holidays, lack of new catalysts, heightened regulatory scrutiny, and intense competition [3] - The MSCI China Index has only risen 0.8% this year, contrasting with a 2.8% gain in the MSCI All World Index and significant increases in South Korea and Taiwan [3] Regulatory Environment - Increased regulatory intervention, including tightened margin financing rules, is adding to market caution and affecting investor sentiment [7] Industry Performance - Earnings are diverging across industries, with metal miners and companies in the AI supply chain performing well, while electric vehicle manufacturers like BYD and Great Wall Motor are struggling due to poor sales [8][9] - Overall A-share earnings are projected to grow about 6.5% year-on-year for 2025, primarily driven by policy support rather than a fundamental shift in market conditions [10]

Company Overview - Nickel 28 Capital Corp. is a nickel-cobalt producer with an 8.56% joint-venture interest in the Ramu Nickel-Cobalt Operation in Papua New Guinea, providing significant nickel and cobalt production critical for electric vehicle adoption [3] - The company also manages a portfolio of 10 nickel and cobalt royalties on development and exploration projects in Canada, Australia, and Papua New Guinea [3] Stock Options Grant - The company granted 810,811 stock options to Mr. Craig Lennon as part of his long-term incentive compensation for the financial year ending January 31, 2027 [2] - The stock options are exercisable at a price of $1.01 per common share for five years, vesting rateably over three years, with the first anniversary on February 1, 2027 [2] - The stock options will be earned based on total shareholder return (TSR) performance criteria, starting from a price of $1.09 per common share until January 31, 2027, with specific TSR thresholds for earning portions of the options: 25% for 20% TSR, 50% for 40% TSR, 75% for 60% TSR, and 100% for 80% TSR [2]

Core Viewpoint - Magna Mining Inc. has provided its 2026 guidance for the McCreedy West Mine, highlighting production and cost estimates while also discussing ongoing projects and potential opportunities for increased production and profitability [1][3]. Production and Cost Guidance - The operational guidance for the McCreedy West Mine includes ore sales of 355,000 to 375,000 short tons from the 700 Copper Zone, with a copper equivalent grade of 3.2% to 3.5% [4]. - Payable copper equivalent production is estimated to be between 16.0 million and 18.0 million pounds [4]. - Cash costs, excluding stream payments, are projected at $3.40 to $3.80 per pound of copper equivalent, while all-in sustaining costs (AISC) are expected to be between $4.20 and $4.70 per pound [4]. Mining Projects Updates - The company is advancing the Levack and Crean Hill projects towards restart decisions, with a Preliminary Economic Assessment (PEA) for Levack expected to be completed in Q3 2026 [6][8]. - A ramp is being developed at Levack to enhance access and support production, with hoisting capabilities anticipated to be re-established in the second half of 2026 [7]. - The PFS for Crean Hill is also underway, with dewatering expected to commence in Q2 2026 [8]. Mineral Reserves and Optimization - The inaugural Mineral Reserves report for McCreedy West is nearing completion, with ongoing mine plan optimization and stope sequencing [3]. - The potential to restart mining in the Intermain Nickel Zone is being evaluated, with nickel ore shipping possible within months of a restart decision [3].

Group 1 - Solidcore Resources plans to commence production at the Syrymbet tin polymetallic mine in northern Kazakhstan in the first half of 2029, pending a positive investment decision in September 2023 [1] - The estimated tin metal resource at the Syrymbet mine is 375,050 tons, and it will be the first tin mining operation in Kazakhstan [1] - The CEO of Solidcore Resources, Vetaly Nesis, expressed confidence in a positive investment decision based on the doubling of tin prices since two years ago, with LME three-month tin closing at $51,955 per ton at the end of January 2023 [1] Group 2 - Demand for tin is expected to improve moderately, particularly in traditional applications like the food and beverage canning industry, as well as in new economic sectors such as data centers and renewable energy technologies [2] - The supply of tin is anticipated to stagnate due to depleting reserves in major producing regions like southern China, Myanmar, and Thailand, while new hard rock tin deposits are scarce and located in complex geopolitical areas [2] - Solidcore is advancing the development of its ore processing technology to address challenges in extracting tin from the Syrymbet deposit, which is among the top three tin deposits globally but faces difficulties due to the ultra-fine nature of the ore [2]

Core Insights - MetalQuest Mining Inc. (MQM) has released its ESG/Sustainability Report for 2025, focusing on its Lac Otelnuk Iron Ore Project in Quebec [1][3] ESG Commitment - MQM's project activities have been limited to desktop studies and technical analyses, resulting in minimal emissions primarily from administrative work, which are not material to the company's environmental footprint [2] - The company emphasizes the importance of early stakeholder engagement in project development, dedicating resources to build relationships with local communities and First Nations [4][5] - The report aligns with frameworks from TCFD and SASB to ensure industry-standard transparency and accountability [8] Project Development - MQM has signed an Exploration and Pre-Development Agreement with the Naskapi Nation of Kawawachikamach, indicating a commitment to responsible project development [5] - The company has invested approximately $120 million in the Lac Otelnuk project to date and is working with AtkinsRéalis to update the 2015 Feasibility Study to align with current market and regulatory standards [11] Strategic Acquisitions - On December 3, 2025, MQM announced the acquisition of the ROF-1 Project in Ontario's Ring of Fire, which consists of 1,034 claims covering approximately 20,800 hectares [12] - The company is pursuing a multi-project strategy in the Ring of Fire, with plans for systematic exploration and environmental studies at the recently acquired Superior Iron Project [16] Shareholder Engagement - MQM holds approximately 1.8 million free trading shares and 2.5 million warrants of Canadian Copper Inc. (CCI), with CCI's shares trading at $0.61 as of January 19, 2026 [17] - The company has two NSR royalties in the Murray Brook deposit and is completing a Preliminary Economic Assessment (PEA) on the project, with results expected in the first half of 2026 [19]

Core Insights - Imperial Metals Corporation has reported the results of the first diamond drill hole from the Mount Polley 2025 Phase 2 Diamond Drill Program, which includes significant mineralization with 11.0 metres grading 4.43% copper, 1.53 g/t gold, and 41.7 g/t silver [1][2]. Drill Program Overview - The Mount Polley 2025 Phase 2 program aims to achieve three objectives: testing a high-grade zone beneath the Wight Pit, expanding and determining the boundaries of higher gold grade mineralization in the C2 zone, and exploring beneath the previously mined Bell Pit using new targeting techniques [2]. - The Phase 2 program consists of nine holes totaling 3,718.3 metres [1]. Drill Hole Details - Drill hole WB-25-268 was targeted at a high-grade area in the Green zone, adjacent to the Martel zone, beneath the Wight Pit [5]. - The hole intercepted a hydrothermal fragmental potassic-altered breccia with significant mineralization, including additional higher-grade sections above and below the targeted area [8]. - The detailed results from hole WB-25-268 include: - 1.5 metres grading 3.58% copper, 0.07 g/t gold, and 13.6 g/t silver from 254.6 to 256.1 metres - 9.6 metres grading 3.71% copper, 0.42 g/t gold, and 9.89 g/t silver from 272.5 to 282.1 metres - 11.0 metres grading 4.43% copper, 1.53 g/t gold, and 41.7 g/t silver from 304.4 to 315.4 metres [9]. Mineralization Characteristics - The higher silver to copper ratio observed in this hole is typical for the northeast quadrant of the Mount Polley property, indicating potential for further exploration in this area in 2026 [10]. - The Martel zone has been previously defined as an underground resource, with an indicated resource of 2,272,000 tonnes grading 1.14% copper, 0.30 g/t gold, and 7.20 g/t silver as of January 1, 2025 [11]. Company Profile - Imperial Metals is based in Vancouver and is involved in exploration, mine development, and operations, holding the Mount Polley mine (100%), Huckleberry mine (100%), and Red Chris mine (30%), along with a portfolio of 23 exploration properties in British Columbia [12].

Core Viewpoint - Barksdale Resources Corp. has successfully amended the terms of its secured convertible debentures and associated warrants, which is expected to improve the company's financial position and extend the maturity of its debt obligations [2][9]. Summary by Sections Amendments to Convertible Debentures - The maturity date of the $1,500,000 secured convertible debentures has been extended from December 31, 2027, to December 31, 2028, with the conversion price reduced from $0.12 to $0.10 per share [3]. - The expiry date of the associated 8,000,000 detachable common share purchase warrants has also been extended to December 31, 2028, with the exercise price reduced from $0.12 to $0.10 per share [3]. - The maturity date of the $3,000,000 secured convertible debentures has similarly been extended to December 31, 2028 [3]. - The expiry date of the associated 7,500,000 detachable common share purchase warrants has been extended to December 31, 2028 [3]. Interest and Put Right - All convertible debentures bear an interest rate of 10% per annum and include a holder put right, allowing holders to require the company to repurchase the outstanding principal amount on or after December 31, 2027 [4]. New Warrants Issued - In consideration for the amendments, the company has issued 7,000,000 new detachable common share purchase warrants to the Delbrook Capital Funds, with each warrant allowing the purchase of one share at a price of $0.09 until December 31, 2028 [5]. Company Overview - Barksdale Resources Corp. aims to drive long-term shareholder value through the acquisition, exploration, and advancement of high-quality critical, base, and precious metal projects across the Americas, focusing on metals essential for the global energy transition [7][8].

Core Viewpoint - Mongolian Mining Corporation has released its operational update for the quarter ended December 31, 2025, highlighting significant increases in production and sales of coking coal and gold, indicating a positive operational performance compared to previous periods [3][6][11]. Coking Coal Operations - The Group is the largest producer and exporter of washed coking coal in Mongolia, with operations primarily at the Ukhaa Khudag and Baruun Naran mines [4][5]. - In 2025, the Group sold 8,221.3 thousand tonnes of washed coking coal, a 4% increase from 7,882.1 thousand tonnes sold in 2024 [6]. - The product mix for 2025 included 4,920.5 thousand tonnes of hard coking coal (HCC), 452.5 thousand tonnes of semi-soft coking coal (SSCC), and 2,848.4 thousand tonnes of mid-ash semi-hard coking coal (MASHCC), with HCC, SSCC, and MASHCC making up 59%, 6%, and 35% of total sales respectively [7]. - Key operational data for the quarter ended December 31, 2025, showed a 10% increase in ROM coal mined to 3,963.6 thousand tonnes, a 3% increase in processed ROM coking coal to 3,858.6 thousand tonnes, a 12% increase in washed coking coal produced to 2,350.7 thousand tonnes, and a 12% increase in washed coking coal sold to 2,578.1 thousand tonnes compared to the previous quarter [9]. Gold and Metals Operations - The Group holds a 50% equity stake in Erdene Mongol LLC, which operates the Bayan Khundii gold mine, and a 50.5% stake in Universal Copper LLC, which is developing the White Hill copper-silver-gold mine [10]. - In 2025, the Group sold 7,434 ounces of gold and 2,634 ounces of silver from the Bayan Khundii mine, with average prices of 4,153.25 USD/oz for gold and 53.14 USD/oz for silver [11]. - The processing plant at Bayan Khundii has a capacity of 650,000 tonnes per annum and employs various methods for gold and silver extraction [12]. - During the quarter ended December 31, 2025, the Group conducted geological exploration and metallurgical testing for the White Hill mine development [13].

Core Insights - Group Eleven Resources Corp. announced significant drilling results from its Ballywire discovery at the PG West Project in Ireland, highlighting the potential for further mineralization and expansion of the discovery [1][3][12]. Drilling Results - Hole 25-3552-51 intersected 29.9 meters of 15.3% combined zinc and lead (Zn+Pb), with silver grades reaching up to 4,260 g/t, indicating a strong mineralization zone [3][4]. - A new mineralized zone was discovered in hole 25-468-19, which intersected over 32 meters of mineralization, suggesting significant potential for further exploration in the area [3][4]. - The results from the latest drilling campaign demonstrate an 80-meter extension of the massive sulphide zone towards the southwest, indicating new expansion opportunities [3][4]. Exploration Strategy - The company is currently operating four drilling rigs at Ballywire, aiming to complete over 20,000 meters of drilling in 2026, with approximately 85% of this planned at Ballywire [18]. - Follow-up drilling is underway to further investigate the newly discovered mineralized zones and to test deeper targets [3][12]. Financial Position - Group Eleven Resources has a robust treasury, which supports its ambitious drilling campaign and exploration activities [3][12]. Historical Context - The Ballywire discovery is noted as the most significant mineral discovery in Ireland in over a decade, with a total of 73 holes drilled and reported since the initial announcement in September 2022 [12][25].

Core Viewpoint - Scandium Canada Ltd. is currently experiencing increased market activity, but the company is not aware of any corporate developments that would explain this trend [1]. Company Overview - Scandium Canada Ltd. (TSX-V: SCD) aims to become a leading producer of scandium, focusing on the development and commercialization of aluminum-scandium (Al-Sc) alloys [3]. - The company is leveraging its Al-Sc alloys development subsidiary and the Crater Lake mining project to meet the rising demand for lighter, greener, and high-performance materials [3]. - Scandium Canada is committed to fostering a more responsible economy through innovation and agility [3]. Regulatory Compliance - The company confirms that all material information regarding its business and operations has been publicly disclosed in accordance with applicable securities laws and TSX Venture Exchange requirements [2].