Core Viewpoint - Green Bridge Metals Corporation is advancing exploration and metallurgical programs to assess the critical mineral potential of its properties in the South Contact District, linked to Minnesota's Duluth Complex [1] Group 1: Company Developments - The company is focusing on understanding the critical mineral resources within its properties, which include titanium, copper, nickel, cobalt, platinum group elements, vanadium, and iron [1]

Core Insights - SAGA Metals Corp. is strategically positioned to benefit from the U.S. government's "Project Vault," which aims to enhance domestic supply chains for critical minerals, particularly titanium, in alignment with national security priorities [1][3][4] Group 1: Project Vault and U.S. Strategic Initiatives - Project Vault establishes the U.S. Strategic Critical Minerals Reserve as a public-private partnership to store essential raw materials across U.S. facilities [2] - The Export-Import Bank of the United States (EXIM) has approved a Direct Loan of up to USD 10 billion to support Project Vault, aimed at strengthening U.S. production and processing capacity [3] - The initiative is part of a broader strategy by the Trump administration to counter China's dominance in critical minerals, particularly in refining [4] Group 2: Titanium's Strategic Importance - Titanium is recognized as a critical mineral for defense and aerospace applications due to its strength-to-weight ratio and corrosion resistance [11] - Over 90% of mined titanium is processed into pigment, highlighting a significant supply chain gap for aerospace-grade titanium [12] - The defense sector consumes a substantial portion of titanium, with some aircraft, like the F-15, comprising up to 40% titanium by weight [13] Group 3: SAGA Metals' Project Focus - SAGA's flagship Radar Ti-V-Fe Project in Labrador has achieved a 100% drilling success rate in 2025, with exceptional grades of titanium, vanadium, and iron [13] - The project is strategically located near existing infrastructure, enhancing its potential for supporting secure supply chains for defense and aerospace [14] - The evolving policy environment emphasizes the importance of North American critical minerals projects, reinforcing SAGA's focus on supply-chain security and advanced manufacturing [14] Group 4: Implications of Project Vault - SAGA Metals identifies key implications from Project Vault, including the rising strategic value of titanium and other critical metals in defense readiness and aerospace manufacturing [17] - There is potential for increased investment in North American exploration and processing capacity as governments prioritize secure supply [17] - Enhanced public-private cooperation is expected to create resilient supply chains and mitigate market disruption risks [17]

Core Insights - The announcement of "Project Vault" by the U.S. government aims to establish a strategic stockpile of critical minerals to enhance domestic supply chains and national security [1][2][4] - The initiative includes a Direct Loan of up to USD 10 billion from the Export-Import Bank of the United States to support partnerships in critical mineral production [3] - The focus on critical minerals, particularly titanium, is crucial for defense and aerospace applications, highlighting the need for secure supply chains [7][9] Company Overview - SAGA Metals Corp. is focused on the exploration of critical minerals, particularly titanium, which is essential for defense and aerospace sectors [1][11] - The company's flagship Radar Ti-V-Fe Project in Labrador has shown a 100% drilling success rate in 2025, with high grades of titanium, vanadium, and iron [10] - SAGA's strategic positioning in the critical minerals sector aligns with the U.S. government's initiatives to strengthen supply chains and reduce reliance on foreign sources [11][21] Industry Context - The U.S. is taking steps to counter China's dominance in critical minerals, particularly in refining processes, through initiatives like Project Vault [4][5] - The emphasis on allied coordination and preferential trade frameworks aims to stabilize critical mineral supply chains and mitigate risks associated with price fluctuations and supply disruptions [5][6][17] - Critical minerals are foundational for modern technology, with applications ranging from mobile devices to electric vehicle batteries and defense systems [12]

Core Viewpoint - SAGA Metals Corp. has reported exceptional assay results from its drilling program at the Trapper Zone, indicating high grades of titanium, vanadium, and iron across all completed drill holes, which supports the potential for a robust mineral resource definition in the area [1][12]. Group 1: Drilling Results - The company completed a total of eight drill holes in the Trapper Zone, with four in Trapper South, yielding significant oxide-rich intercepts [1][6]. - Notable assay results include: - R-0015: 100.70 m grading 38.56% Fe2O3, 6.80% TiO2, and 0.229% V2O5 [5][6]. - R-0014: 41.20 m grading 36.17% Fe2O3, 6.36% TiO2, and 0.188% V2O5 [5][6]. - R-0013: 111.50 m grading 37.08% Fe2O3, 5.14% TiO2, and 0.242% V2O5 [5][6]. - R-0012: 75.20 m grading 27.39% Fe2O3, 4.87% TiO2, and 0.116% V2O5 [5][6]. Group 2: Geological Insights - The Trapper Zone exhibits a continuous oxide layering trend extending over 16 km, with consistent mineralization patterns observed between the Trapper and Hawkeye Zones [8][10]. - The geological team has identified significant oxide concentrations in cross-sections S8 and S7, indicating the potential for additional high-grade oxide layering throughout the Trapper Zone [9][12]. Group 3: Project Overview - The Radar Titanium-Vanadium-Iron property spans 24,175 hectares and is strategically located near Cartwright, Labrador, with access to infrastructure such as roads and a deep-water port [19][20]. - The project is positioned as a potential strategic supplier of titanium, vanadium, and iron to North American markets, comparable to global Fe–Ti–V systems [20][25].

Core Viewpoint - Vedanta Ltd is set to undergo a significant demerger into five independent companies, with the aim of listing them on stock exchanges by May 2024, following the approval from the National Company Law Tribunal [2][3]. Group 1: Demerger Details - The demerger will create five distinct entities: Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Iron and Steel, and Vedanta Ltd, which will manage the zinc and silver businesses [3][4]. - The demerger is scheduled to take effect on April 1, 2024, with shares expected to be listed by May or before the end of June [2][3]. Group 2: Debt Allocation - Vedanta's total net debt is approximately ₹60,624 crore (around $6.7 billion), which will be distributed among the new companies based on their asset values and cash generation capabilities [4][5]. - Vedanta Aluminium is expected to carry the largest portion of the debt, while Vedanta Oil & Gas and Vedanta Iron and Steel will have minimal to no debt assigned to them [6][7]. Group 3: Financial Performance - Vedanta reported a record quarterly profit of ₹7,807 crore for Q3, marking a 60% increase year-on-year, with revenues reaching ₹45,899 crore, a nearly 20% rise from the previous year [8][9]. - The company's EBITDA also reached a record high of ₹15,171 crore, reflecting a 33% increase compared to the previous year [8][9]. - The aluminium segment achieved its highest EBITDA margin of $1,268 per ton, driven by record production levels [10].

Summary of Cerrado Gold Conference Call Company Overview - **Company**: Cerrado Gold - **Project**: Lagoa Salgada, a high-grade polymetallic VMS deposit in Portugal - **Key Personnel**: Mark Brennan (Chairman and CEO), Jason Brooks (CFO), João Barros (President of Cerrado Europe), and others involved in the call Core Industry Insights - **Mining Industry in Portugal**: Lagoa Salgada is recognized as a project of national interest, aligned with the European Union's Critical Raw Materials Act, aimed at securing European supply of critical metals [17][18] - **Economic Impact**: The project is expected to contribute 23% to the local economy, providing high-paying jobs and supporting the community [6][16] Key Points from the Call 1. **Environmental Impact Assessment (EIA)**: - Initial EIA submitted on December 21, 2023, included comprehensive studies and was accepted by the Portuguese Environmental Agency (APA) [7] - The project received a unanimous favorable opinion from the technical evaluation committee, a first in Portuguese mining history [9] - APA later issued an unfavorable opinion based on concerns regarding a deeper aquifer, which was not previously identified [10][11] 2. **Regulatory Challenges**: - The company believes the unfavorable opinion is legally invalid as new technical issues cannot be introduced at this stage [11][12] - Cerrado is pursuing legal avenues to challenge the APA's decision and is engaging with local authorities for resolution [14][15] 3. **Community and Government Support**: - Strong backing from local communities and government officials, including the Secretary of State for Energy, who previously encouraged investment in the project [5][6] - The project has received support from EDM (Portuguese state-owned mining company) and AICEP (Portuguese Trade and Investment Agency) [14][27] 4. **Operational Updates**: - At Minera Don Nicolás, the company aims to produce 50,000-60,000 ounces of gold in 2026, with plans for significant exploration [19][30] - The Mont Sorcier Iron Project is progressing, with a full feasibility study expected in Q2 2026 [20] 5. **Market Position**: - Cerrado Gold is trading at a significant discount compared to peers in the gold sector, despite producing more gold and having similar life-of-mine profiles [19][21] - The company is financially strong with a robust balance sheet and is not solely reliant on the Lagoa Salgada project [18][40] Additional Important Insights - **Legal and Technical Solutions**: The company has proposed effective technical solutions to mitigate concerns raised by the APA, which can be addressed in the next phase of the project [11][36] - **Future Outlook**: The company remains optimistic about resolving the permitting issues and emphasizes the importance of Lagoa Salgada for both the company and the local community [34][40] - **Shareholder Value**: Anticipation of positive near-term developments that could enhance shareholder value, including the recommencement of a normal course issuer bid [22][40] This summary encapsulates the critical aspects of the conference call, highlighting the challenges and opportunities faced by Cerrado Gold in relation to the Lagoa Salgada project and its broader operational strategy.

Core Viewpoint - Cerrado Gold Inc. is hosting a management conference call to discuss an unfavorable opinion regarding the environmental impact assessment for the Lago Salgada Project in Portugal, scheduled for January 26, 2026 [1]. Company Overview - Cerrado Gold is a Toronto-based gold production, development, and exploration company, owning 100% of the Minera Don Nicolás and Las Calandrias mine in Argentina [3]. - The company holds an 80% interest in the Lagoa Salgada VMS project in Portugal and is developing the Mont Sorcier Iron project in Canada [3]. Operations in Argentina - In Argentina, Cerrado is enhancing asset value at Minera Don Nicolás through operational optimization and increasing production at the Las Calandrias heap leach project [4]. - An extensive exploration campaign is ongoing to unlock potential resources in the Deseado Massif region [4]. Operations in Portugal - The Lagoa Salgada project in Portugal is a high-grade polymetallic project with mineralization of zinc, copper, lead, tin, silver, and gold [5]. - The project covers a large 7,209-hectare property concession, located 80 km from Lisbon, offering significant exploration and development opportunities [5]. Operations in Canada - The Mont Sorcier project in Canada is a high-purity, high-grade Direct Reduced Iron project, with potential for long mine life and low operating costs [6]. - The project supports the transition of steel producers from blast furnaces to electric arc furnaces, aiding in industry decarbonization [6].

Core Insights - SAGA Metals Corp. has reported successful assay results from four diamond drill holes at the Trapper North Zone, confirming high-grade titanium, vanadium, and iron mineralization [1][6][7] Drilling Results - The assay results from drill holes R-0010 and R-0011 indicate significant mineralization, with R-0010 intercepting 135.5 meters grading 50.03% Fe₂O₃, 7.87% TiO₂, and 0.352% V₂O₅, while R-0011 intercepted 95.15 meters grading 39.49% Fe₂O₃, 6.49% TiO₂, and 0.22% V₂O₅ [6][11] - The overall results from all four drill holes show a consistent presence of oxide-rich intercepts, with 42.6% of samples exceeding 7% TiO₂ and 53.7% of samples exceeding 0.2% V₂O₅ [6][7] Geological Insights - The drilling program has confirmed the continuity of high-grade mineralization along the northern limb of the Trapper North Fold, indicating a strong potential for resource development [7][12] - The geological mapping and drilling have revealed extensive oxide layering across more than 20 km of strike length, with mineralization open for expansion [19][21] Future Plans - The 2026 drilling campaign will focus on the southern section of the Trapper Zone, targeting approximately 30 holes (7,500 meters) to further delineate the mineral resources [18][16] - The company aims to establish a maiden Mineral Resource Estimate for the Radar Project, emphasizing the importance of titanium, vanadium, and iron for North American supply security [13][14] Strategic Positioning - The Radar Project is positioned as a potential strategic supplier of titanium, vanadium, and iron to North American markets, comparable to global Fe–Ti–V systems [22][27] - SAGA Metals Corp. is focused on critical mineral discovery to support North America's transition to supply security, with a diversified portfolio of projects [27][31]

Core Insights - SAGA Metals Corp. has reported its best drill results to date from the Trapper Zone of the Radar Ti-V-Fe Project, highlighting a strong titanium thesis and significant mineralization potential [1][4][9] Company Overview - SAGA Metals Corp. is focused on the exploration and discovery of critical minerals, particularly titanium, vanadium, and iron, essential for North American supply security [21][24] - The Radar Project spans 24,175 hectares and encompasses the entire Dykes River intrusive complex, a unique geological position among Western explorers [5][13] Drill Results - Recent assays from the first two of eight completed drill holes at the Trapper Zone show long intervals of oxide mineralization with significant grades: Hole R-0008 reported 269.36 m at 6.57% TiO₂, 0.244% V₂O₅, and 36.21% Fe₂O₃; Hole R-0009 reported 296.47 m at 7.46% TiO₂, 0.250% V₂O₅, and 39.75% Fe₂O₃ [7][9] - The results confirm a large mineralized layered mafic intrusion with strong titanium and vanadium grades, validating a continuous oxide layering trend over 16+ km [5][14] Market Context - The titanium market is experiencing growth driven by defense and aerospace applications, with a projected increase from US$30.34 billion in 2024 to US$52.52 billion by 2032, reflecting a CAGR of 7.10% [9] - Titanium is classified as a critical mineral by the U.S., EU, and Canada, emphasizing its importance in defense and aerospace due to its strength-to-weight ratio and corrosion resistance [6][8] Strategic Importance - SAGA's Radar Project is positioned to address the supply chain vulnerabilities in North America, particularly in the context of geopolitical risks associated with titanium metal supply [3][8] - The project aims to bolster domestic supply chains to meet urgent national security needs, aligning with the strategic narrative of resilient North American titanium supply [2][9] Next Steps - SAGA plans to receive additional assay results shortly and will mobilize crews by mid-January to initiate the next phase of the Trapper Zone MRE drill program [10]

Core Insights - Saga Metals has reported high-grade results from initial drilling at its Radar iron-titanium-vanadium project in Labrador, indicating that its Trapper target may rival the nearby Hawkeye zone [1][3]. Company Summary - Saga Metals is one of the few exploration companies in Canada focusing on critical metals such as titanium and vanadium, with no existing vanadium mines in the country [3]. - The company has raised approximately $6 million to support its drilling activities at the Trapper site [7]. Drilling Results - Highlight hole R-0009 returned 296 metres grading 39.75% iron oxide, 7.46% titanium oxide (TiO₂), and 0.25% vanadium oxide (V₂O₅) from a depth of 2.5 metres, including 63 metres at 44% iron oxide, 9% TiO₂, and 0.25% V₂O₅ [2][6]. - Another significant hole, R-0008, yielded 269.36 metres at 36.21% iron oxide, 6.57% TiO₂, and 0.244% V₂O₅ from 3.4 metres depth, with notable sections grading 45.63% iron oxide and 8.4% TiO₂ [6]. - The iron grades from the Trapper results are reported to be 124% higher than the best hole assays at Hawkeye, with titanium grades 105% higher and vanadium content 37% higher [6]. Market Context - The demand for titanium in the aerospace sector is projected to reach 1.6 million tonnes by 2044, with significant supply controlled by Russia and China [4]. - Saga's ongoing 15,000-metre drilling program at Trapper aims to support an indicated resource estimate to be released later this year [4]. Stock Performance - Following the announcement of drilling results, Saga's shares increased by 15% to C$0.59, valuing the company at C$41.9 million, with a 12-month trading range of C$0.20 to C$0.66 [5].