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Modern warfare is evolving quickly alongside emerging technologies, unlocking unprecedented investment opportunities in diverse areas of the defense sector.

Escalating conflicts in Europe and the Middle East are prompting governments worldwide to increase military spending. Looking at the US alone, the passage of the One Big Beautiful Bill Act has the potential to bring a US$150 billion investment into the defense industry. In addition, the Trump administration is proposing a US$1 trillion defense budget for 2026 with a focus on cybersecurity, artificial intelligence (AI) and autonomous systems capabilities.

The biggest US defense contractors and exchange-traded funds (ETFs) are expected to benefit greatly from the huge government spending expected in the sector. As for up-and-coming American defense companies that offer investors growth opportunities, those that can quickly develop and commercialize dual-capability technologies (i.e. for both civil sector and defense markets) are looking equally as attractive.

“If the opportunity is purely in the defense sector, that’s a big, but ultimately limited, opportunity. If the opportunity is in defense and a range of other sectors because the technology has got a transversal application, then it becomes far more interesting for an investor,” notes Joe Cassidy, partner, technology, media and telecom at KPMG in the UK.

Defense and security trends: Nature of war is changing

Defense spending jumped nearly 10 percent in 2024, according to a KPMG report on emerging trends in the aerospace and defense sector, representing “its fastest growth rate in nearly four decades.’

The firm attributes this growth to geopolitical destabilization both in Europe and in the Middle East. The global trade war surrounding rare earths, platinum-group metals, aluminum, steel and semiconductors is adding further pressure.

This increase in domestic defense spending has been translating into big wins for defense and security stocks. As Raymond James’ September Defense & Government Market Intel Report shows, publicly traded companies in the US defense sector are up by 57.8 percent since September 2024.

In a June interview with Federal News Network’s Terry Gerton, Sam Maness, managing director of Raymond James’ Defense and Government Group, ascribed the growth to the anticipated increase in funding for domestic defense contractors. He noted that US-China tensions and other geopolitical conflicts are “lead(ing) to bullishness for anything that is more meaningfully touching mission, and defense technology naturally does that.’

Looking forward, analysts expect supply chain sovereignty and cutting-edge technological advancements to be the major themes in this sector as nations look to cost effectively build out their domestic defense industries. At the same time, new weapons systems are reshaping the nature of war both on the battlefield and online.

“The way conflicts are resolved is changing rapidly and new technologies are disrupting the battlefield strategy,” states KPMG in its report. “Defense departments need rapid innovation and are no longer willing to wait years for a custom system when an ‘80% Solution’ can be purchased off-the-shelf.”

So what technologies are getting the most attention in the defense sector?

As mentioned, cybersecurity, autonomous systems and AI solutions are in the spotlight, and companies with dual-capability technologies are getting recognition. Below are examples of defense stocks tracked by Raymond James that are focused on providing these technologies to both the civil and defense sectors.

Cybersecurity defense stocks

One of the greatest threats to modern militaries is cyber attacks. This makes securing military IT infrastructure, communications networks and weapons systems mission critical for today’s armed forces.

L3Harris Technologies (NYSE:LHX) is a leading US defense contractor that provides cybersecurity solutions such as end-to-end technologies across air, land, sea, space and cyber domains.

The firm also serves public safety sectors such as law enforcement and fire; commercial sectors such as utilities and transportation; the commercial aviation space; and the healthcare industry.

Mercury Systems (NASDAQ:MRCY) develops secure processing subsystems, embedded computing and mission-critical technologies with advanced cybersecurity features for military and defense applications.

The company also supplies the aviation and industrial sectors.

V2X (NYSE:VVX) supplies vehicle-to-everything cybersecurity to secure communications between military vehicles, drones and command centers. It is in the process of acquiring federal IT business of QinetiQ Group (LSE:QQ), which provides data engineering, intel mission support and cyber solutions for US intelligence agencies.

In the civil and commercial space, the company provides solutions to first responders, commercial fleets and the auto sector, as well as urban mobility and utilities.

Zscaler (NASDAQ:ZS) is a leader in cloud-native security and its zero-trust architecture platforms are used by the US Department of Defense, intelligence agencies and other defense contractors. In August, the company acquired Red Canary, adding to its portfolio of cybersecurity detection and response solutions for US defense and intelligence agencies. Zscaler also serves the healthcare, finance, retail, energy, manufacturing and public sectors.

    Autonomous system defense stocks

    The changing nature of war is probably best represented in the rapid innovation and adoption of lower-cost autonomous systems such as drones, unmanned ground vehicles, robotics and counter-drone technologies.

    A key supplier to the US military, AeroVironment (NASDAQ:AVAV) designs and manufactures unmanned aerial vehicles and robotics systems primarily for military surveillance and reconnaissance.

    The company also provides electric energy systems to the commercial and public sectors.

    Kratos Defense & Security Solutions (NASDAQ:KTOS) specializes in advanced defense technologies such as unmanned systems, satellite communications and hypersonics, while adapting them for commercial markets.

    Teledyne Technologies (NYSE:TDY) provides drones, unmanned vehicles and robotics-related technologies to the defense sector through its subsidiary Teledyne FLIR.

    It also provides these technologies for the civil aviation, manufacturing and energy sectors.

    Through its subsidiary Textron Systems, Textron (NYSE:TXT) develops and integrates autonomous and robotics systems for the US Department of Defense and military operations for intelligence, surveillance and reconnaissance missions. The company’s autonomous technologies portfolio also extends into civil aviation, law enforcement and critical infrastructure protection for government and civilian operations.

      Artificial intelligence defense stocks

      AI technologies are rapidly being integrated into existing and emerging defense tech, including unmanned aerial and ground vehicles, reconnaissance and surveillance systems as well as hypersonic weapons.

      Curtiss-Wright (NYSE:CW) is a global engineering company that provides products such as sensors, controls and data acquisition systems for the defense, aviation, nuclear power and industrial markets. Its defense solutions division has produced AI-optimized rugged embedded computing systems for use on the battlefield.

      Leonardo DRS (NASDAQ:DRS) specializes in AI-enabled computing and sensing for tactical military platforms, including for use in US Army ground vehicles. Its technology is also used for public safety and infrastructure protection during disaster responses, as well as in industrial automation, medical diagnostics and commercial transportation.

      Palantir Technologies (NASDAQ:PLTR) is a leading defense contractor that delivers AI platforms for the US military and its allies. It partners with other major defense industry companies such Northrop Grumman (NYSE:NOC) and Anduril Industries. Palantir’s technology is also widely used in the civil sector, as well as by more than half of Fortune 500 companies in sectors such as healthcare, energy, finance and manufacturing.

      Voyager Technologies (NYSE:VOYG) is a defense- and space-focused AI technology company that provides national security solutions with partners such as Palantir. In August, it acquired Electromagnetic Systems, adding AI-based automated target recognition software and intelligence analytics for space-based radar systems to its portfolio. Voyager’s AI tech is also used by NASA and commercial satellite operators.

        Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

        This post appeared first on investingnews.com

        // Not for distribution to the United States newswire services or for dissemination in the United States //

        Copper Quest Exploration Inc. (CSE: CQX; FRA: 3MX) (‘ Copper Quest ‘ or the ‘ Company ‘) is pleased to announce that it has closed the second and final tranche (the ‘ Second Tranche ‘) of its previously announced non-brokered private placement (the ‘ Private Placement ‘) with the issuance of 4,070,534 units (the ‘ Units ‘, and each, a ‘ Unit ‘) of the Company at a price of $0.075 per Unit for gross proceeds of $305,290.05.

        Each Unit consists of one (1) common share of the Company (‘ Share ‘) and one (1) Share purchase warrant, whereby each Share purchase warrant (‘ Warrant ‘) is convertible into an additional Share (‘ Warrant Share ‘) at an exercise price of $0.15 per Warrant Share. Each Warrant will expire on September 19, 2027 (the ‘ Expiry Date ‘), being the date that is two (2) years following the date of issuance. The Expiry Date is subject to acceleration in the event the closing price of the Company’s common shares on the Canadian Securities Exchange is equal to or greater than C$0.29 for a period of 10 consecutive trading days at any time after that date which is four (4) months following the date of issuance, in which case the Expiry Date of the Warrants shall automatically accelerate and the Warrants will expire on that date which is 30 days from the date of notice of such acceleration event.

        In connection with the Private Placement, the Company paid aggregate finder’s fees in the amount of $5,040 to eligible finders and issued a total of 67,200 finder warrants (the ‘ Finder Warrants ‘). The terms of the Finder Warrants are the same as the Warrants.

        An insider of the Company acquired an aggregate of 680,000 units. The participation by the insider in the Private Placement constitutes a ‘related party transaction’ as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (‘ MI 61-101 ‘). The Company relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities purchased by insiders, nor the consideration for the securities paid by such insiders, exceeded 25% of CQX’s market capitalization. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Private Placement, which the Company deems reasonable in the circumstances in order to complete the Offering in an expeditious manner. The Private Placement was unanimously approved by the Board.

        Proceeds from the Private Placement are intended for exploration activities and general working capital purposes. All securities issued in connection with the Private Placement are subject to a statutory hold period expiring January 20, 2026, being the date that is four months and one day from the date of issuance.

        The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the ‘ U.S. Securities Act ‘), or any state securities laws, and may not be offered or sold absent registration or compliance with an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

        About Copper

        Copper is an essential industrial metal at the heart of the global energy transition and modern infrastructure. It plays a critical role in electrification, renewable energy systems, electric vehicles, data centers, and smart technologies. With global demand rising and new supply challenged by declining grades, complex permitting, and underinvestment, the copper market faces persistent deficits and growing geopolitical scrutiny. Recent U.S. policy announcements, including import tariffs and initiatives to secure domestic and allied supply chains, underscore copper’s strategic importance and the need for resilient, localized resource exploration, development, production and processing capacity.

        About Copper Quest Inc.

        Copper Quest (CSE: CQX; OTCQB: IMIMF; FRA: 3MX) is focused on building shareholder value through the exploration and development of its North American Critical Mineral portfolio of assets. The Company’s land package currently comprises four projects that span over 40,000+ hectares in great mining jurisdictions.

        Copper Quest has a 100% interest in the Stars Property, a porphyry copper-molybdenum discovery, covering 9,693 hectares in central British Columbia’s Bulkley Porphyry Belt. Contiguous to the Stars Property Copper Quest has a 100% interest in the 5,389 ha Stellar Property. CQX also has an earn-in option up to 80% and joint-venture agreement on the 4,700 ha porphyry copper-molybdenum Rip Project, also in the Bulkley Porphyry Belt.

        Copper Quest has a 100% interest in the Thane Project located in the Quesnel Terrane of Northern BC which spans over 20,658 ha with 10 high-priority targets identified demonstrating significant copper and precious metal mineralization potential.

        Copper Quest’s leadership and advisory teams are senior mining industry executives who have a wealth of technical and capital markets experience and a strong track record of discovering, financing, developing, and operating mining projects on a global scale. Copper Quest is committed to sustainable and responsible business activities in line with industry best practices, supportive of all stakeholders, including the local communities in which it operates. The Company’s common shares are principally listed on the Canadian Stock Exchange under the symbol ‘CQX’. For more information on Copper Quest, please visit the Company’s website at Copper Quest .

        On behalf of the Board of Copper Quest Exploration Inc.

        Brian Thurston, P.Geo.
        Chief Executive Officer and Director
        Tel: 778-949-1829

        For further information contact:

        Kelly Abbott
        Investor Relations
        info@copper.quest

        Forward Looking Information

        This news release contains certain ‘forward-looking information’ and ‘forward-looking statements’ (collectively, ‘ forward-looking statements ‘) within the meaning of applicable securities legislation. All statements, other than statements of historical fact included herein, including without limitation, statements relating the future operations and activities of Copper Quest, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as ‘expects’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘potential’, ‘possible’, and similar expressions, or statements that events, conditions, or results ‘will’, ‘may’, ‘could’, or ‘should’ occur or be achieved. Forward-looking statements in this news release relate to, among other things, the expected use of proceeds from the Private Placement. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company’s business and prospects. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.

        The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.

        News Provided by GlobeNewswire via QuoteMedia

        This post appeared first on investingnews.com

        Gold hit yet another new price record this week, rising past US$3,700 per ounce.

        The yellow metal broke that level on Wednesday (September 16), the first day of the US Federal Reserve’s meeting, and then did it again the next day just after the gathering wrapped up.

        The Fed was widely anticipated to cut interest rates, and that’s exactly what happened — it announced a 25 basis point reduction to the 4 to 4.25 percent range, with Chair Jerome Powell describing it to reporters as a ‘risk-management cut.’

        Although inflation is still outside the Fed’s 2 percent target, Powell said the central bank has shifted its focus toward the jobs market due to a change in the balance of risks — in his view, it’s no longer possible to call the labor market ‘very solid.’

        ‘Labor demand has softened, and the recent pace of job creation appears to be running below the break-even rate needed to hold the unemployment rate constant.’ — Jerome Powell, US Federal Reserve

        All Fed governors were in favor of the 25 basis point cut, with the exception of new addition Stephen Miran, who wanted to see a 50 basis point decline. Miran, who is on leave from his position at the White House Council of Economic Advisers, was confirmed by the Senate this week. He was selected by US President Donald Trump to replace Adriana Kugler.

        Miran’s new role at the Fed has raised questions about the central bank’s independence, as Trump has now nominated three out of seven governors. Lisa Cook, who Trump attempted to fire in August, ultimately did not lose her position after a federal appeals court ruling.

        Looking forward, the Fed’s latest dot plot shows policymakers expect two additional 25 basis point cuts this year, which would take rates to the 3.5 to 3.75 percent level.

        In 2026, they are currently anticipating only one quarter-point reduction.

        Going back to gold, it took a breather after passing US$3,700, sinking back down to the US$3,640 level after the Fed’s meeting. It was back at up at US$3,685 as of Friday (September 19) afternoon.

        While that’s a fairly big move in a short amount of time, many experts agree that right now it’s the big picture that’s important for gold, not day-to-day factors.

        Here’s how Will Rhind of GraniteShares explained it:

        ‘I think the main thing that’s driving gold, like I said, is this alternative to the dollar. People want an alternative to fiat money and particularly the dollar, and also to traditional stocks and bonds. And so gold’s appeal as being a genuine alternative, an uncorrelated alternative grows by the month, seemingly.’

        Bullet briefing — Gold M&A heats up, GDX switches index

        Newmont announces sale of Coffee

        Denver Gold Group hosted its Mining Forum Americas in Colorado Springs this week, bringing together the gold sector’s major players — and with them a slew of news.

        Among the major transactions announced was Newmont’s (TSX:NGT,NYSE:NEM,ASX:NEM) sale of its Yukon-based Coffee project to explorer Fuerte Metals (TSXV:FMT,OTCQB:FUEMF), formerly Atacama Copper, for total consideration of up to US$150 million.

        The Coffee transaction is the latest in a series of divestments from Newmont, which is looking to cut costs and hone in on tier-one assets after buying Newcrest Mining in 2023. Once the deal goes through, Newmont will have sold all six operations and two projects it set out to trim.

        ‘The sale of the Coffee Project reflects our ongoing efforts to streamline the portfolio and sharpen our focus on core operations’ — Tom Palmer, Newmont

        During the last gold bull market, major miners were criticized for doing high-priced deals and letting costs spiral out of control — this time, they appear to be taking steps to avoid that.

        Alamos to divest Turkish subsidiary

        Also divesting an asset this week was Alamos Gold (TSX:AGI,NYSE:AGI), which said it plans to sell its Turkish subsidiary to a unit of industrial conglomerate Nurol Holding.

        The US$470 million agreement will take several assets off Alamos’ hands, including its Kirazlı gold project, which has been blocked since 2019, when its mining licenses were not renewed amid protests. Alamos filed a $1 billion claim against Turkey in response, but said arbitration will be suspended and ultimately discontinued if certain contractual milestones are met.

        ‘This transaction marks a positive outcome, allowing us to crystallize significant value for our Turkish assets, and utilize the proceeds to support the development of our portfolio of other high-return growth projects’ — John A. McCluskey, Alamos Gold

        Zijin Gold plans IPO

        Zijin Gold International, which operates all of Zijin Mining Group’s (OTC Pink:ZIJMF,HKEX:2899,SHA:601899) mines outside of China, is lining up a Hong Kong initial public offering (IPO) that could raise over US$3 billion.

        Trading is set to begin on September 29, and the deal will value Zijin Gold at US$24.1 billion. According to Zijin Gold’s prospectus, it ranks ninth and eleventh globally in terms of gold reserves and production, respectively. The IPO is reportedly the world’s largest since May, and of course comes as gold continues on its record-setting price run.

        GDX makes index switch

        The VanEck Gold Miners ETF (ARCA:GDX), better known as GDX, began tracking a new index on Friday. It now follows the MarketVector Global Gold Miners Index.

        VanEck announced the change at the beginning of June, saying that it would coincide with GDX’s regular index reconstitution and rebalance cycle. In an update this week, the company shared how the shift will impact weightings for its holdings. While in many cases the difference is less than a percentage point, there are some larger changes — for example, Newmont’s weighting is falling by 6.04 percent; in addition, some companies have been removed or added.

        So far VanEck hasn’t announced changes for the VanEck Junior Gold Miners ETF (ARCA:GDXJ). Adjustments to that fund could be interesting — market participants often note that it doesn’t provide true exposure to exploration-stage companies.

        Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

        This post appeared first on investingnews.com

        Statistics Canada released July’s monthly mineral production survey on Friday (September 19). The data showed gold production increased month-over-month, while copper and silver declined; shipments, however, saw broad declines from June for all three metals.

        Gold production increased significantly to 18,855 kilograms compared to 16,935 kilograms in June. Meanwhile, copper production fell to 37.99 million kilograms from 39.17 million kilograms in June, and silver production slipped to 25,345 kilograms from 28,390 kilograms.

        As for shipments, gold shipments slid to 16,748 kilograms from 18,554, copper fell to 39.28 million kilograms from 45.96 million, and silver decreased to 26,397 kilograms from 31,181.

        StatsCan released August’s consumer price index (CPI) data on Tuesday (September 16), the day before the Bank of Canada’s interest rate decision. The release showed that all-items inflation rose 1.9 percent on a yearly basis, up from the 1.7 percent recorded in July.

        The agency attributed the faster growth in headline inflation in part to a slower year-over-year decline in gasoline prices, which fell 12.7 percent in August versus 16.1 percent in July, resulting in a less moderating effect on inflation than during the previous month.

        StatsCan noted that without volatile gasoline prices included, CPI in August rose 2.4 percent year-over-year after registering a 2.5 percent increase in the three previous months.

        The Bank of Canada chose to reduce its benchmark lending rate by 25 basis points to 2.5 percent on Wednesday (September 17), noting ‘a weaker economy and less upside risk to inflation.’ It marks the first cut since March, when it set the rate at 2.75 percent.

        South of the border, the US Federal Reserve held its September meeting of the Federal Open Market Committee on Tuesday and Wednesday. The US central bank also chose to cut 25 basis points from the Federal Funds Rate, bringing it to the 4 percent to 4.25 percent range. It is the first change to the interest rate since the last 25 basis point cut in December 2024.

        For more on what’s moving markets this week, check out our top market news roundup.

        Markets and commodities react

        Canadian equity markets were in positive territory this week.

        The S&P/TSX Composite Index (INDEXTSI:OSPTX) set another new record high this week, ending the week up 1.29 percent to 29,768.36. The S&P/TSX Venture Composite Index (INDEXTSI:JX) performed even better, climbing 2.65 percent to finish Friday at 904.80, its first close above 900 since January 2022. The CSE Composite Index (CSE:CSECOMP) also jumped, gaining 4.98 percent to end the week at 162.04.

        The gold price was in focus again this week as it climbed to another new record, reaching an intraday high of US$3,707 per ounce on Wednesday ahead of the FOMC meeting. While the price retreated slightly to US$3,642 on Thursday, it ended the week up 1.15 percent overall at US$3,685.26 per ounce.

        The silver price was also volatile, rising to US$42.83 per ounce early in the week before dipping below US$42 per ounce in mid-week trading. It bounced back to end the week on 14 year highs, gaining 2.11 percent to close Friday at US$43.08.

        Copper saw its mid-week gains erased by the end of the week, closing Friday largely flat at US$4.63 per pound. The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) echoed those movements with a 0.06 percent gain to end the week at 545.95.

        Top Canadian mining stocks this week

        How did mining stocks perform against this backdrop?

        Take a look at this week’s five best-performing Canadian mining stocks below.

        Stocks data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

        1. Japan Gold (TSXV:JG)

        Weekly gain: 119.05 percent
        Market cap: C$50.3 million
        Share price: C$0.23

        Japan Gold is an exploration company focused on a portfolio of Japan-based gold assets.

        Its most advanced property is the Mizobe gold project located in Southern Kyushu. The site hosts several exploration targets covering an area of 2 kilometers by 2.5 kilometers and has produced river float samples up to 18.9 g/t of gold.

        The company is also working on a trio of projects with Barrick (TSX:ABX,NYSE:B), the most advanced of which is the Hakuryu project located in Northern Hokkaido. The company has identified several targets, including the Hakuryu No. 3 vein, which hosts a 360 meter main zone with a thickness of 20 meters.

        Shares in Japan Gold gained significantly at the end of the week; however, the company has not released news since September 9, when it reported that it had mobilized for a four-hole, 1,600 meter drill program at Mizobe.

        2. Minnova (TSXV:MCI)

        Weekly gain: 110 percent
        Market cap: C$21.06 million
        Share price: C$0.21

        Minnova is an exploration and development company advancing its brownfield PL gold mine in Manitoba, Canada.

        The property consists of 28 mining claims and covers an area of 5,114 hectares. An April 2018 feasibility study for the project indicated project economics with an after-tax net present value of C$36.7 million, an internal rate of return of 53 percent and a payback period of 1.2 years, calculated at a gold price of US$1,250 per ounce.

        The company has been working to restart the mine over the past few years, but faced funding shortfalls. Trading for Minnova was halted on August 6 as it worked to resolve financial issues to maintain its listing on the TSXV.

        On September 11, the company announced that trading would resume on the TSXV alongside a corporate update. It disclosed that it had a working capital deficiency of C$544,611 and is planning a private placement to address the shortfall. Funds will also go towards ongoing activities at PL, including drilling, test work and updated NI 43-101 techno-economic studies.

        Minnova also announced that it is advancing plans for preliminary open-pit and underground mine design and layout, and that work on a new mine development plan that takes into account higher gold prices is underway.

        Shares in Minnova have surged since trading resumed earlier this week from their price of under C$0.10 before the halt.

        3. Stamper Oil and Gas (TSXV:STMP)

        Weekly gain: 98.26 percent
        Market cap: C$16.02 million
        Share price: C$0.018

        Stamper Oil and Gas is an exploration and development company working to advance offshore projects in Namibia.

        The company holds an interest in five exploration blocks in Namibia; its most significant holding is a 32.9 percent stake in PEL 107 located in the Orange Basin. PEL 107 covers an area of 5,484 square kilometers and is located 210 kilometers from shore in an area that hosts three multi-billion-barrel discoveries since 2022.

        The company has been conducting seismic work ahead of the planned drilling of an exploration well set to commence in 2027.

        Stamper completed the acquisition of its holdings in the Namibian blocks on September 10, when it reported it had closed its purchase of BISP Exploration, originally announced on May 12.

        4. New Break Resources (CSE:NBRK)

        Weekly gain: 93.33 percent
        Market cap: C$17.03 million
        Share price: C$0.29

        New Break Resources is a gold exploration company working to advance its Moray gold project in Northeastern Ontario, Canada.

        The property is located near Timmins, within the Abitibi Greenstone Belt, and spans an area of 10,326 hectares. Additionally, it is situated 32 kilometres northwest of Alamos Gold’s (TSX:AGI) Young-Davidson gold mine, which produced 174,000 ounces of gold in 2024.

        On Wednesday, New Break announced results from its six-hole, 1,502-meter maiden diamond drilling program at the site. The company highlighted one assay with an average grade of 4.11 grams per metric ton (g/t) gold over 31.3 meters, including an interval of 6.75 g/t over 7.1 meters.

        The prior week, the company closed the final tranche of an oversubscribed private placement. In total, the company raised proceeds of C$1 million over three tranches, which will be used for ongoing exploration at Moray and for general working capital purposes.

        5. Clean Tech Vanadium Mining (TSXV:CTV)

        Weekly gain: 91.67 percent
        Market cap: C$15.77 million
        Share price: C$0.115

        CleanTech Vanadium is an exploration company working to advance several critical mineral projects in the US.

        Its most recent focus has been on its Kentucky-Illinois fluorspar projects, which consist of over a dozen deposits covering over 8,150 acres along the border of Kentucky and Illinois. Mining in the region dates back to the late 1800s and has produced 12.5 million metric tons of fluorspar, according to the company.

        CleanTech also owns the Gibellini vanadium project in Nevada, US. The project has been approved for multiple state permits and received a positive environmental impact statement from the Bureau of Land Management. According to the project page, the site covers 21 kilometers and hosts a measured and indicated vanadium oxide resource of 127 million pounds.

        Additionally, the company announced on August 6 that it had acquired the El Triunfo gold-antimony project near La Paz, Bolivia, from Silver Elephant for cash considerations of C$155,000.

        The most recent announcement from CleanTech came on Tuesday when it welcomed an additional US$1 billion in funding programs from the Department of Energy (DoE) that was announced on August 13. It also highlighted the continued inclusion of fluorspar, germanium, gallium, indium and vanadium on the US Geological Survey’s Critical Minerals list.

        CleanTech stated that it intends to explore funding options with the DoE, with a focus on advancing its Illinois-Kentucky fluorspar district. The company noted that the Department of Defense is funding research at the nearby Hicks Dome rare earth and fluorspar project in Illinois.

        FAQs for Canadian mining stocks

        What is the difference between the TSX and TSXV?

        The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

        How many mining companies are listed on the TSX and TSXV?

        As of May 2025, there were 1,565 companies listed on the TSXV, 910 of which were mining companies. Comparatively, the TSX was home to 1,899 companies, with 181 of those being mining companies.

        Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.

        How much does it cost to list on the TSXV?

        There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

        The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

        These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

        How do you trade on the TSXV?

        Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

        Article by Dean Belder; FAQs by Lauren Kelly.

        Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

        Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

        This post appeared first on investingnews.com

        Cobra (LSE: COBR), a mineral exploration and development company, is pleased to announce that is has received Environmental Protection and Rehabilitation (‘EPEPR’) approval from the Government of South Australia’s Department for Energy and Mining (‘DEM’) for the Company’s exploration programme that will support planned pump and permeability testing at the Boland wellfield.

        Key Points:

        • Cobra is now completing its programme notification process that will see infield testing commence in mid-October and last for approximately two weeks
        • Field tests will provide an infield measure of the rate of permeability achievable through the in-situ recovery (‘ISR’) process
        • A large (55kg) bench scale ISR column study underway at the Australian Nuclear and Scientific Technology Organisation (‘ANSTO’) is currently achieving exceptional permeability rates of 1.5 metres/day
        • The column pH dropped from pH7.0 to pH4.0 in just 48 hours, with first liquor assays expected soon
        • Being able to replicate similar permeabilities in a field environment will provide robust, high confidence mining parameters for use with future economic studies

        Rupert Verco, Managing Director of Cobra, commented:

        ‘It is pleasing to receive DEM approval that will enable our first field testing. Once the programme notification is fulfilled, the team will mobilise to site to install temporary infrastructure and commence testing.

        Initial permeabilities achieved in the large-scale column are exceptionally encouraging and will see Rare Earth Elements being recovered in very short time frames using a low-cost lixiviant. Running these two work programmes in parallel will provide invaluable data that will form the basis for estimating future ISR production rates. We expect recovery results of this in-field test to be reported to the market in the coming weeks.’

        Follow this link to watch a short video of MD Rupert Verco explaining future field studies relevant to this announcement: https://investors.cobraplc.com/link/P4xdBP

        Update on Scaled Column ISR Test

        • Percolation of lixiviant through a 55kg ISR column containing a composite sample from three drillholes from across the Boland project has commenced using ~0.3M ammonium sulphate (‘AMSUL’) at pH3
        • Recovery rates of individual REEs will be evaluated during the ISR process, with separate liquors to be collected to evaluate the possibility of producing an MREC from both early stage (pH>4.5) and late stage (pH=3.0).
        • In two days, the average permeability rate being achieved is 1.5 metres/day
        • The current recovered liquor pH is <4.0; previous columns showed REE recoveries from pH5
        • Study anticipated to be completed within a fortnight
        • First liquor assays expected soon

        Figures 1 & 2: photos of the 55kg column subject to ISR studies currently in progress at ANSTO laboratories

        Further information relating to Boland and these results are presented in the appendices.

        Enquiries:

        Cobra Resources plc

        Rupert Verco (Australia)

        Dan Maling (UK)

        via Vigo Consulting

        +44 (0)20 7390 0234

        SI Capital Limited (Joint Broker)

        Nick Emerson

        Sam Lomanto

        +44 (0)1483 413 500

        Global Investment Strategy (Joint Broker)

        James Sheehan

        +44 (0)20 7048 9437

        james.sheehan@gisukltd.com

        Vigo Consulting (Financial Public Relations)

        Ben Simons

        Anna Stacey

        +44 (0)20 7390 0234

        cobra@vigoconsulting.com

        The person who arranged for the release of this announcement was Rupert Verco, Managing Director of the Company.

        Information in this announcement relates to exploration results that have been reported in the following announcements:

        • Exploration update: ‘Low-Cost Recoveries from Optimised Testing’, dated 11th August 2025
        • Exploration update: ‘Rare Earth ISR System beyond Boland’, dated 4th August 2025
        • Exploration update: ‘Favourable Boland Metallurgical Results’, dated 21st July 2025
        • Exploration update: ‘Boland Project Update’, dated 26th June 2025
        • Wudinna Project Update: ‘Boland Aircore Drill Results’, dated 25th February 2025
        • Wudinna Project Update: ‘Further Positive Metallurgy Results from Boland Project’, dated 16 December 2024
        • Wudinna Project Update: ‘2nd Bench Scale ISR Study & £1.7M Placing’, dated 26 November 2024
        • Wudinna Project Update: ‘ISR Bench Scale Study Completion’, dated 4 November 2024
        • Wudinna Project Update: ‘ISR bench scale study delivers exceptional results’, dated 1 October 2024
        • Wudinna Project Update: ‘ISR bench scale update – Exceptionally high recoveries with low impurities and low acid consumption; on path to disrupt global supply of heavy rare earths’, dated 28 August 2024
        • Wudinna Project Update: ‘ISR bench scale update -Further metallurgical success at world leading ISR rare earth project’, dated 11 July 2024

        Competent Persons Statement

        The information in this report that relates to metallurgical results is based on information compiled by Cobra Resources and reviewed by Mr James Davidson who is Principal at Rendement and a Fellow of the Australian Institute of Mining and Metallurgy (F AusIMM). Mr Davidson has sufficient experience that is relevant to the metallurgical testing which was undertaken to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Davidson consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

        Information in this announcement has been assessed by Mr Rupert Verco, a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Verco is an employee of Cobra and has more than 17 years’ industry experience which is relevant to the style of mineralisation, deposit type, and activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves of JORC. This includes 13 years of Mining, Resource Estimation and Exploration.

        About Cobra

        Cobra Resources is a South Australian critical minerals developer, advancing assets at all stages of the pre-production pathway.

        In 2023, Cobra identified the Boland ionic rare earth discovery at its Wudinna Project in the Gawler Craton – Australia’s only rare earth project suitable for in situ recovery (ISR) mining. ISR is a low-cost, low-disturbance extraction method that eliminates the need for excavation, positioning Boland to achieve bottom-quartile recovery costs.

        In 2025, Cobra further expanded its portfolio by optioning the Manna Hill Copper Project in the Nackara Arc, South Australia. The project contains multiple underexplored prospects with strong potential to deliver large-scale copper discoveries.

        In 2025, Cobra sold its Wudinna Gold Assets to Barton Gold (ASX: BDG) for up to A$15 million in cash and shares.

        Regional map showing Cobra’s tenements in South Australia

        Follow us on social media:

        LinkedIn: https://www.linkedin.com/company/cobraresourcesplc

        X: https://twitter.com/Cobra_Resources

        Engage with us by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor hub here: https://investors.cobraplc.com/

        Subscribe to our news alert service: https://investors.cobraplc.com/auth/signup

        Appendix 1: Background information – the Boland Project and ISR

        • The Boland Project was discovered by Cobra in 2023. Mineralisation is ionically bound to clays and organics within palaeochannel sands within the Narlaby Palaeochannel
        • Mineralisation occurs within a permeable sand within an aquifer that is saltier than sea water and is confined by impermeable clays
        • ISR is executed through engineered drillhole arrays that allow the injection of mildly acidic ammonium or magnesium sulphate lixiviants, using the confining nature of the geology to direct and lower the acidity of the orebody. This low-cost process enables mines to operate profitably at lower grades and lower rates of recovery
        • Once REEs are mobile in solution in groundwater, it is also possible, from an engineering standpoint, to recover the solution to surface via extraction drillholes, without any need for excavation or ground disturbance
        • The capital costs of ISR mining are low as they involve no material movements and do not require traditional infrastructure to process ore – i.e. metals are recovered in solution
        • Ionic mineralisation is highly desirable owing to its high weighting of valuable HREOs and the cost-effective method in which REEs can be desorbed
        • Ionic REE mineralisation in China is mined in an in-situ manner that relies on gravity to permeate mineralisation. The style of ISR process is unconfined and cannot be controlled, increasing the risk for environmental degradation. This low-cost process has enabled China to dominate mine supply of HREOs, supplying over 90% globally
        • Confined aquifer ISR is successfully executed globally within the uranium industry, accounting for more than 60% of the world’s uranium production. This style of ISR has temporary ground disturbance, and the ground waters are regenerated over time
        • Cobra is aiming to demonstrate the economic and environmental benefits of recovering ionic HREOs through the more environmentally aquifer controlled ISR – a world first for rare earths

        Figure A1: Comparison between the Chinese and the proposed Boland process for ISR mining of REEs

        Appendix 2: Metallurgical sample information

        Drillhole

        From (m)

        To (m)

        ID

        Pr6O11

        ppm

        Nd2O3

        ppm

        Tb2O3

        ppm

        Dy2O3

        ppm

        Sm2O3

        TREO

        ppm

        CBSC0006

        31.15

        33.05

        CBSC006-comp

        12

        48

        1.3

        8

        9

        264

        CBSC0009

        25.55

        26.89

        CBSC009-comp

        53

        215

        6.8

        38

        50

        1,261

        CBSC0010

        26.00

        27

        CBSC0010-comp

        151

        470

        9.2

        52

        76

        2,999

        Composite

        CBSC00-06+09+10

        58

        194

        4.8

        28

        36

        1,194

        This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

        RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

        Source

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        Standard Uranium Ltd. (TSXV: STND,OTC:STTDF) (OTCQB: STTDF) (FSE: 9SU0) (‘Standard Uranium’ or the ‘Company’) is pleased to announce that it has signed a letter of intent (the ‘LOI’), dated September 15, 2025, with Collective Metals Inc. (CSE: COMT) (the ‘Optionee’), an arms-length party. Pursuant to the LOI, the Optionee will be granted the option (the ‘Option’) to acquire a seventy-five percent interest in the 4,002-hectare Rocas Project (‘Rocas’ or the ‘Project’) located in the eastern Athabasca Basin region (Figure 1).

        Rocas Project Highlights:

        • Prime Location – More than 7.5 km of exploration strike length along a strong NE-SW magnetic low trend coincident with EM conductors and cross-cutting faults, providing shallow drill targets south of Key Lake.
        • Uranium at Surface – Mineralized outcrop grab samples along approximately 900 metres of strike length, grading up to 0.50 wt.% U3O8 and never drill tested1 (Figure 2).
        • New Uranium Targets – Results from a high-resolution ground gravity survey completed in 2024 highlight potential alteration halos and high-priority exploration targets along well defined structural corridors.

        The Option is exercisable by the Optionee completing cash payments and share issuances, and incurring the following exploration expenditures on the Project:

        Consideration
        Payments
        Consideration
        Shares
        Exploration Expenditures Operator
        Fees
        Earn-in at completion of each Year
        Year 1 $50,000 $250,000 $1,500,000 10% 0%
        Year 2 $50,000 $250,000 $1,500,000 12% 0%
        Year 3 $125,000 $225,000 $1,500,000 12% 75%
        Total $225,000 $725,000 $4,500,000

        Jon Bey, Standard Uranium CEO and Chairman, commented: ‘We are very pleased to have agreed to terms with our new partners at Collective Metals to advance our newly expanded Rocas Project. The global demand for nuclear energy requires more uranium exploration and high-grade discoveries. There is no better place on the planet to make these discoveries than the Athabasca Basin region. We look forward to completing this transaction and beginning phase one of our three-year exploration programs run by our Standard Uranium technical team.’

        Figure 1. Regional map of Standard Uranium’s Rocas Project. The Project is located 75 kilometers southwest of the Key Lake Mine and Mill facilities along Highway 914.

        To view an enhanced version of this graphic, please visit:
        https://images.newsfilecorp.com/files/10633/266920_38abd1beb4e55916_001full.jpg

        About the Rocas Project

        The Rocas project comprises 4,002 hectares, located 75 kilometers southwest of the Key Lake Mine and Mill facilities along Highway 914, and approximately 72 kilometers south of the present-day margin of the Athabasca Basin. The project was acquired via staking in May 2023 and recently expanded by an additional 931 hectares. Standard Uranium holds a 100%-interest in the Property.

        The Project covers 7.5 kilometres of a northeast trending magnetic low/electromagnetic (‘EM’) conductor corridor which hosts several uranium showings, including historical mineralized outcrop grab samples along approximately 900 metres of strike length, grading up to 0.50 wt.% U3O81. Notably, none of the historical uranium occurrences have been drill-tested.

        Historical airborne EM work in 2017 defined conductive trends on the Project west of and sub-parallel to the Key Lake Road shear zone, corresponding with favourable metasedimentary basement lithologies. Multiple parallel conductors, offsets, and termination points indicate the trend widening and potential cross-cutting structures. Additionally, a 2007 field sampling program identified anomalous lakebed geochemical anomalies that statistically rank as greater than 95th percentile U, Co, V, and Zn along the conductor corridor, including high U/Th ratios2.

        Figure 2. Geophysical map of the Rocas Project highlighting EM conductors, faults, historical uranium showings, and anomalous lakebed geochemistry.

        To view an enhanced version of this graphic, please visit:
        https://images.newsfilecorp.com/files/10633/266920_38abd1beb4e55916_002full.jpg

        2024 Ground Gravity Survey

        The Company contracted MWH Geo-Surveys (Canada) Ltd. to complete a high-resolution ground gravity survey along known conductive exploration trends on the Rocas project. The surveys are designed to aid in the identification of potential zones of hydrothermal alteration of host rocks associated with uranium mineralization events.

        The gravity surveys across the conductive structural corridors improve definition of drill targets for future exploration programs. Convolutions Geoscience have completed detailed inversion and 3D modeling, which will provide additional vectoring layers for future drill programs. Value-added products include 3D density inversions, depth slices, modeling interpretation, and expert recommendations.

        Four new drill target zones have been identified on the Rocas project, outlined via the confluence of low gravity anomalies, historical surface mineralization, lakebed geochemical anomalies, EM conductors, and crosscutting fault zones.

        3-Year Earn-In Option

        Prior to exercise of the Option, the Company will act as the operator of the Project and will be entitled to charge a 10% fee on expenditures in Year 1, increasing to 12% in Year 2 and Year 3.

        Following successful completion of the obligations of the Option (i.e., at the end of Year 3), Optionee will acquire a 75% equity in the Property, with Standard retaining 25% as well as a 2.5% net smelter returns royalty on the Project, of which 1.0% may be purchased back at any time for a one-time cash payment of $1,000,0002.

        The parties intend on forming an unincorporated joint venture for the further development of the Project.

        The LOI is non-binding at this time and the grant of the Option remains subject finalisation and execution of definitive agreements. No finders’ fee is payable by the Company in connection with the Option.

        *The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be ‘high-grade’.

        **The Company considers radioactivity readings greater than 300 counts per second (cps) to be ‘anomalous’.

        Qualified Person Statement

        The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President and VP Exploration of the Company and a ‘qualified person’ as defined in NI 43-101.

        Historical data disclosed in this news release relating to sampling results from previous operators are historical in nature. Neither the Company nor a qualified person has yet verified this data and therefore investors should not place undue reliance on such data. The Company’s future exploration work may include verification of the data. The Company considers historical results to be relevant as an exploration guide and to assess the mineralization as well as economic potential of exploration projects.

        References

        1 Mineral Assessment Report 74B09-0007: Uranex Ltd., 1977 & SMDI# 2465: https://mineraldeposits.saskatchewan.ca/Home/Viewdetails/2465
        2 Mineral Assessment Report 74B09-0032: Forum Uranium Corp., 2007

        About Standard Uranium (TSXV: STND,OTC:STTDF)

        We find the fuel to power a clean energy future

        Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world’s richest uranium district. The Company holds interest in over 235,435 acres (95,277 hectares) in the world-class Athabasca Basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition, and exploration of Athabasca-style uranium targets with a view to discovery and future development.

        Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises ten mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly under-tested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.

        Standard Uranium’s eastern Athabasca projects comprise over 43,185 hectares of prospective land holdings. The eastern basin projects are highly prospective for unconformity related and/or basement hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies, and location along trend from several high-grade uranium discoveries.

        Standard Uranium’s Sun Dog project, in the northwest part of the Athabasca Basin, Saskatchewan, is comprised of nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement and unconformity hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.

        For further information, contact:

        Jon Bey, Chief Executive Officer, and Chairman
        Suite 3123, 595 Burrard Street
        Vancouver, British Columbia, V7X 1J1

        Tel: 1 (306) 850-6699
        E-mail: info@standarduranium.ca

        Cautionary Statement Regarding Forward-Looking Statements

        This news release contains ‘forward-looking statements’ or ‘forward-looking information’ (collectively, ‘forward-looking statements’) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding the intended use of proceeds from the Offering.

        Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the ‘Risks and Uncertainties’ in the Company’s management discussion and analysis for the fiscal year ended April 30, 2024.

        Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company’s actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: the future price of uranium; anticipated costs and the Company’s ability to raise additional capital if and when necessary; volatility in the market price of the Company’s securities; future sales of the Company’s securities; the Company’s ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company’s mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.

        The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

        Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

        To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266920

        News Provided by Newsfile via QuoteMedia

        This post appeared first on investingnews.com

        While directly holding cryptocurrencies like Bitcoin and Ethereum is a popular option, investors looking for alternatives are clamoring for financial products such as crypto exchange-traded funds (ETFs).

        Canada first launched Bitcoin and Ethereum ETFs in 2021. These Canadian Bitcoin and Ethereum ETFs allow investors to place returns in tax-sheltered accounts like tax-free savings accounts or registered retirement savings plans.

        “There is a high demand for a Bitcoin product that has all the features that people love about ETFs — that they trade on an exchange, that they’re liquid,” Ross Mayfield, investment strategy analyst at Robert W. Baird & Co., told Bloomberg in mid-2021.

        Interest has only increased since then. In the US, Bitcoin ETFs’ net assets surpassed US$100 billion in November 2024, gaining ground on US gold ETFs. Sean Farrell, head of digital asset strategy at Fundstrat, wrote in mid-2023 that the Bitcoin ETF category at large has the potential to surpass the precious metals ETF market in terms of asset value.

        ‘Bitcoin ETF eventually could become >$300 billion category,’ he said in the note.

        Ethereum ETFs have also become a major talking point. Ethereum is the most widely used blockchain technology, and Ether, the digital currency of this platform, is the second largest cryptocurrency after Bitcoin.

        In Q2 2025, Canadian ETF firms officially launched North America’s first Solana and XRP spot ETFs, offering investors exposure to the significant altcoins. The launch of XRP ETFs by Canadian firms comes amid increased clarity regarding XRP’s regulatory status in the US.

        With that in mind, it’s worth taking a look at the currently available Canadian cryptocurrency ETFs.

        The list below includes the biggest 15 crypto ETFs available on the Canadian market sorted by assets under management, and all data presented is current as of September 16, 2025.

        1. Fidelity Advantage Bitcoin ETF (TSX:FBTC)

        Assets under management: C$1.48 billion

        The Fidelity Advantage Bitcoin ETF launched in November 2021. It offers the security of Fidelity’s in-house cold storage services for its holdings.

        While it previously had a management fee of 0.39 percent, the Fidelity Advantage Bitcoin ETF lowered it in January 2025 to an ultra-low management fee of 0.32 percent.

        2. CI Galaxy Bitcoin ETF (TSX:BTCX.B)

        Assets under management: C$1.40 billion

        Launched in March 2021, the CI Galaxy Bitcoin ETF was born out of a partnership between cryptocurrency leaders Galaxy Fund Management and CI Global Asset Management. Galaxy Fund Management is part of Galaxy Digital, a diversified financial services firm with a focus on digital assets and the blockchain technology sector.

        The ETF’s objective is to give investors exposure to Bitcoin via an institutional-quality fund platform, as its holdings are wholly Bitcoin and are kept in cold storage. At 0.4 percent, this fund is another with one of the lowest management fees of the crypto funds on the market.

        3. Purpose Bitcoin ETF (TSX:BTCC)

        Assets under management: C$1.04 billion

        Billed as the world’s first physically settled Bitcoin ETF, the Purpose Bitcoin ETF launched in February 2021 and is backed by Bitcoin in cold storage. This means the fund allows investors to add and sell Bitcoin with no digital wallet required.

        Hosted by Canadian investment company Purpose Investments, the Purpose Bitcoin ETF has a management expense ratio of 1.5 percent.

        4. CI Galaxy Ethereum ETF (TSX:ETHX.U)

        Assets under management: C$805.65 million

        The CI Galaxy Ethereum ETF, another collaboration between CI and Galaxy, offers investors exposure to the spot Ethereum price through Ether holdings in cold storage. The fund launched on April 20, 2021, the same day as two of the other Ether ETFs on this list.

        The CI Galaxy Ethereum ETF has a low management fee of just 0.4 percent.

        5. 3iQ Solana Staking ETF (TSX:SOLQ)

        Assets under management: C$353.67 million

        The 3iQ Solana Staking ETF is designed to provide investors with a user-friendly and secure way to gain exposure to SOL and earn passive rewards through staking. Its launch quickly garnered significant assets under management and attracted investments from SkyBridge Capital and two of ARK Invest’s ETFs.

        For the first 12 months after its April 16, 2025, launch, the ETF features a 0 percent management fee. After this initial period, the management fee will be 0.15 percent.

        6. Evolve Bitcoin ETF (TSX:EBIT)

        Assets under management: C$261.36 million

        Evolve ETFs partnered with cryptocurrency experts, including Gemini Trust Company, CF Benchmarks, Cidel Bank & Trust and CIBC Mellon Global Services, to launch the Evolve Bitcoin ETF. The fund, which holds its own Bitcoin, has a management fee of 0.75 percent.

        Launched a week after the Purpose Bitcoin ETF, its holdings of Bitcoin are priced based on the CME CF Bitcoin Reference Rate, a once-a-day benchmark index price for Bitcoin denominated in US dollars.

        7. Purpose Ether ETF (TSX:ETHH)

        Assets under management: C$253.94 million

        The Purpose Ether ETF is a direct-custody Ether ETF that launched on April 20, 2021. This fund currently holds over 87,000 Ether, which it stores in cold storage.

        The Purpose Ether ETF offers investors exposure to the daily price movements of physically settled Ether tokens with a management fee of 1 percent.

        8. 3iQ XRP ETF (TSX:XRPQ)

        Assets under management: C$175.27 million

        The 3iQ XRP ETF provides investors with exposure to XRP, the digital asset native to the XRP Ledger. The ETF, which launched on June 17, 2025, is passively managed and aims to track the performance of the CME CF XRP-Dollar Reference Rate. The underlying XRP is held in secure cold storage.

        The fund’s primary objectives are to give unitholders an opportunity for long-term capital appreciation through exposure to XRP and its daily price movements against the US dollar. This XRP ETF has a 0 percent management fee for its first six months, after which time it will change to 0.59 percent.

        9. Purpose Bitcoin Yield ETF (TSX:BTCY)

        Assets under management: C$124.85 million

        The Purpose Bitcoin Yield ETF uses a covered call strategy to generate yield for investors, which involves writing call options on Bitcoin. Call options give the buyer an option to purchase an asset at a specific price on or before a specific date.

        Its structure allows the fund to earn income from option premiums while providing investors with exposure to Bitcoin’s price movements. Its distributions are paid monthly and has a management fee of 1.1 percent.

        10. Evolve Ether ETF (TSX:ETHR)

        Assets under management: C$107.32 million

        The Evolve Ether ETF offers investors an easier route to investing in Ether. The fund’s holdings of Ether are priced based on the CME CF Ether-Dollar Reference Rate, a once-a-day benchmark index price for Ether denominated in US dollars.

        As with the Evolve Bitcoin ETF, the Evolve Ether ETF has a management fee of 0.75 percent.

        11. Fidelity Advantage Ether ETF (TSX:FETH)

        Assets under management: C$101.38 million

        Following the successful launch of its Bitcoin fund, Fidelity brought its Advantage Ether ETF to market in September 2022, making this the newest Ether ETF in Canada. Its holdings are stored in Fidelity’s in-house cold storage.

        The Fidelity Advantage Ether ETF has a low management fee of 0.4 percent.

        12. Purpose Ether Yield ETF (TSX:ETHY)

        Assets under management: C$89 million

        Like the Purpose Bitcoin Yield ETF, the Purpose Ether Yield ETF offers investors an opportunity to invest in Ether while also generating yield. Purpose Investments lends a portion of its Ether holdings to institutional borrowers and earns interest on those loans.

        Investors who purchase shares of this ETF receive a portion of the interest earned in monthly distributions. Like Purpose’s Bitcoin Yield ETF, its management fee is 1.1 percent.

        13. Purpose XRP ETF (TSX:XRPP)

        Assets under management: C$82.27 million

        The Purpose XRP ETF started trading on the Toronto Stock Exchange on June 18, 2025, as part of the launch of Canada’s first XRP ETFs. The fund invests directly in XRP, offering investors access to the XRP spot price.

        The new asset is offering a 0 percent management fee through February 2026, after which time it will have a management fee of 0.69 percent.

        14. Evolve Cryptocurrencies ETF (TSX:ETC)

        Assets under management: C$78.95 million

        The Evolve Cryptocurrencies ETF launched in September 2021 as the first multi-cryptocurrency ETF, providing combined exposure to both Bitcoin and Ether. Its holdings have since expanded to include XRP and Solana.

        This product from Evolve ETFs allows investors to diversify their crypto portfolios and provides indirect exposure to the four coins, weighing them by market capitalization and rebalancing its holdings on a monthly basis. Bitcoin makes up the majority of its portfolio.

        While this ETF has no management fee, the underlying funds that hold both Bitcoin and Ether have management fees of 0.75 percent plus applicable taxes.

        15. Purpose Solana ETF (TSX:SOLL)

        Assets under management: C$53.96 million

        The Purpose Solana ETF gives investors exposure to the price of the Solana cryptocurrency. Its purpose is to provide a regulated and convenient way for investors to participate in the Solana market without the complexities of directly buying and storing the digital asset.

        A key feature of this specific ETF is that it was one of the world’s first with staking built right in. It has a low management fee of 0.39 percent.

        Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

        This post appeared first on investingnews.com

        A Nevada lithium project central to US efforts to secure domestic mineral supply is leaning on a half-century-old satellite program for modern answers.

        The US Geological Survey’s (USGS) Landsat program, managed with NASA, has provided continuous Earth observations since 1972. Its freely available images allow scientists and industry leaders to measure landscape changes with precision.

        In Northern Nevada, those insights are proving crucial as Lithium Americas (TSX:LAC,NYSE:LAC) works to advance Thacker Pass in a way that meets strict environmental and land-use standards.

        “Landsat imagery is valuable for critical minerals project development because it provides consistent, long-term data that document land use changes and geological features, assess environmental receptors and support planning decisions,” said Alexi Zawadzki, president of North American operations for Lithium Americas, in a USGS report.

        When planning began, Landsat data revealed that the original mine site overlapped with important sage-grouse habitat.

        Although the bird is not a protected species, its sharp population decline since the 1960s has made it an indicator of ecosystem health in Nevada’s rangelands. The finding prompted developers to shift the project six miles south, away from prime territory.

        Water use is another critical challenge faced by the project. Landsat data has been paired with field checks to estimate groundwater levels, using differences in vegetation to infer depth.

        With this data, the Thacker Pass project aims to recycle processed water up to seven times and to operate as a “zero liquid discharge facility.”

        Unlike traditional lithium brine operations, the project will extract lithium from clay deposits. Tailings will be stored in dry facilities and later reused for reclamation work.

        Economic promise

        Lithium Americas estimates construction of Thacker Pass could generate more than US$700 million annually and support 1,800 jobs. Once operational, economic activity linked to the mine could average US$2.1 billion per year, according to a University of Nevada, Reno, study.

        Lithium is a cornerstone of batteries that power smartphones, laptops and electric vehicles. The US ranks third globally in known lithium resources but remains dependent on imports.

        Due to the resource’ growing importance, developing domestic supply has become a matter of both industrial policy and national security.

        Landsat’s value, is hardly confined to mining. A 2023 economic analysis placed its annual contributions to US industries at US$25.6 billion, spanning everything from gold exploration to reduced insurance costs for farmers.

        For Thacker Pass, the test will come as mining gets underway. But for now, the view from space has already reshaped how the project is planned and envisioned moving forward.

        By applying Landsat data, planners hope to show that resource extraction and environmental stewardship can advance together.

        Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

        This post appeared first on investingnews.com

        The US’ growing debt burden and rising borrowing costs are sharpening questions about the long-term credibility of the dollar, while simultaneously opening the door for cryptocurrencies to position themselves as alternatives for investors seeking protection from inflation.

        A new report from Grayscale, the world’s largest digital asset investment platform, argues that macroeconomic imbalances in the US could drive increasing demand for crypto assets.

        “Because of the large debt stock, rising interest rates, and a lack of other viable means for dealing with it, the US government’s commitment to control money supply growth and inflation may no longer be fully credible,” the firm said in its analysis.

        A question of trust in money

        Modern fiat currencies function only as long as people believe governments will preserve their value.

        In practice, that means limiting money supply growth and keeping inflation low. Since the 1990s, delegating this responsibility to independent central banks has largely worked, anchoring expectations and fostering decades of relative stability.

        But Grayscale notes that history is full of examples where governments have broken that trust, turning to the printing press to ease fiscal strain.

        Today, the US finds itself in a precarious position: public debt has climbed to roughly 100 percent of gross domestic product, interest expenses are rising as bond yields climb, and Washington continues to run persistent deficits.

        The report argues that the credibility gap is widening.

        “If holders of US Dollar-denominated assets come to believe” that inflation will be tolerated as a tool for managing debt, Grayscale wrote, “they may seek out alternative stores of value.”

        In most countries, inflation fears are local problems. In the case of the dollar, the stakes are far higher. The Federal Reserve estimates the US currency accounts for 60 to 70 percent of international use, compared with 20 to 25 percent for the euro and less than 5 percent for the Chinese renminbi.

        That dominance means any loss of confidence in the dollar’s stability ripples across global finance. According to Grayscale, this is why risks tied to US debt are not the “most severe” compared to emerging markets but remain “the most important.”

        The US fiscal picture deteriorated after the 2008 financial crisis and worsened during the pandemic. From 2007 to today, average annual deficits have swelled from 1 percent to about 6 percent of GDP, pushing total debt to nearly US$30 trillion.

        Much of this was sustainable when interest rates were near zero. But the era of cheap borrowing has ended.

        As debt is refinanced at higher rates, interest outlays absorb a larger share of federal spending, squeezing room for other priorities and raising the prospect of a “snowball effect” where debt grows faster than the economy.

        Enter crypto

        This backdrop has fueled interest in alternative monetary assets that are insulated from political pressures.

        Gold has long played that role, but Grayscale points to Bitcoin and Ethereum as digital equivalents with unique advantages.

        “These cryptocurrencies have certain design features that can make them a refuge, when needed, from conventional fiat money,” the report said.

        Bitcoin’s supply is capped at 21 million coins, its issuance schedule is transparent, and no institution can arbitrarily inflate it.

        Ethereum, while more complex due to its broader ecosystem of applications, also shares the qualities of decentralization and predictable supply controls.

        In Grayscale’s view, these traits matter most when confidence in fiat currencies erodes. “The utility of these assets comes from what they do not do. Most importantly, they will not increase in supply because a government needs to service its debt.”

        Despite this, Grayscale does not argue that crypto’s rise is inevitable. A credible restoration of US fiscal discipline and central bank independence could limit the appeal of alternative assets.

        Feasible measures, according to the report, might include stabilizing and reducing the debt-to-GDP ratio, reaffirming the Fed’s inflation target, and resisting political pressure on monetary policy.

        History itself can serve as a roadmap for this. Gold soared in the 1970s when inflation ran high and institutional credibility faltered, but lost ground in the 1980s and 1990s as the Fed restored trust and inflation fell. A similar trajectory could shape crypto’s role.

        For now, the macro picture points in the opposite direction. With deficits entrenched and debt swelling, investors face a world where the dollar’s long-term credibility is in question.

        In such an environment, Grayscale argues, crypto assets can serve as a crucial alternative.

        “As long as those risks are getting larger, the value of assets that can provide a hedge against that outcome arguably should be going higher,” the report concluded.

        Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

        This post appeared first on investingnews.com

        Investor Insight

        Lahontan Gold is on track to become a leading gold developer in Nevada’s Walker Lane district, presenting a compelling investment opportunity by combining a high-quality resource base with a clear path to production in Nevada’s premier mining jurisdiction — all in a rising gold price environment.

        Overview

        Lahontan Gold (TSXV:LG,OTCQB:LGCXF) is focused on advancing its portfolio of high-quality gold and silver projects in Nevada. The company’s flagship Santa Fe mine was a past producer that operated from 1988 to 1992, yielding 356,000 ounces of gold and 784,000 ounces of silver. Lahontan aims to unlock the mine’s full potential by expanding its resources and pushing forward on permitting.

        The company recently completed a robust preliminary economic assessment (PEA) outlining a clear pathway to production. Permitting efforts are progressing with the Bureau of Land Management, and Lahontan anticipates being in a position to break ground by 2026.

        Additionally, strategic drilling campaigns are planned to further expand the existing resource base.

        The company’s strategy to unlock shareholder value is to advance the Santa Fe mine toward production by derisking the project through permitting and feasibility studies, while optimizing heap leach processing for maximum recoveries and economic efficiency. Concurrently, it is unlocking value from satellite deposits, including West Santa Fe, which has high-grade oxide potential, and Moho, an early-stage project with promising historic gold and silver intercepts.

        Positioned as a low-cost developer in a top-tier jurisdiction, the company maintains strong institutional support with minimal dilution risk, ensuring capital efficiency and sustainable growth.

        Company Highlights

        • Flagship Santa Fe Project: 100 percent owned, past-producing open-pit heap leach mine with an updated resource estimate of 1.54 million ounces indicated and 0.41 million ounces inferred pit constrained resource
        • Strategic Nevada Location: Situated in Walker Lane, one of the world’s best mining jurisdictions, with excellent infrastructure, water access, and a mining-friendly regulatory environment.
        • Strong Resource Growth Potential: The Santa Fe Mine and its satellite projects, West Santa Fe and Moho, offer exploration upside, with further drilling planned to expand resources.
        • Advancing Toward Production: With a positive Preliminary Economic Assessment (PEA) completed in late 2024, Lahontan is aggressively moving toward permitting and development.
        • Experienced Leadership: The company is led by an experienced management team with a proven track record in mine development, permitting, and value creation for investors.

        Key Projects

        Santa Fe Mine

        The Santa Fe mine, located in Mineral County, Nevada, spans 26.4 sq km and represents Lahontan Gold’s flagship development project. With an updated mineral resource estimate of 1.95 Moz gold equivalent, the project hosts multiple oxide and sulfide zones that remain open for expansion.

        Historical production from the Santa Fe mine yielded 356,000 oz gold and 784,000 oz silver from an open-pit heap leach operation. Modern exploration and metallurgical testing have identified additional high-grade mineralization that could support an expanded operation.

        The recently completed PEA indicates strong economic potential, with favorable heap leach recoveries and low operating costs. Lahontan is actively working with the Bureau of Land Management to advance the permitting process, with the goal of achieving production readiness by 2026.

        Lahontan has received confirmation from the Bureau of Land Management (BLM) that its Santa Fe Exploration Plan of Operations (POO) is now complete, paving the way for the project to enter the full environmental assessment (EA) under the National Environmental Policy Act (NEPA). The completion marks over two years of baseline studies, including biological, cultural, and historical assessments, and covers more than 12 sq km of the Santa Fe project with provision for over 700 drill sites. With this milestone, Lahontan expects to secure final POO approval in Q4 2025, enabling an expanded and robust drilling campaign in 2026.

        West Santa Fe

        The West Santa Fe project, situated just 13 km from the Santa Fe mine, is a highly prospective satellite project that could serve as an extension of the main operation. Historic drill data suggest the presence of a shallow oxide deposit, with early resource modeling indicating a potential gold equivalent resource of 0.5 to 1 Moz.

        West Santa Fe’s excellent resource growth potential

        Lahontan is preparing for an extensive drill program in 2025 to validate and expand this resource. Geophysical surveys and geochemical sampling have identified strong structural controls on mineralization, further supporting the potential for economic extraction. Given its proximity to Santa Fe, West Santa Fe offers a compelling low-cost, high-margin opportunity for future production.

        Moho Project

        The Moho project is another 100 percent owned asset within the Walker Lane district in Nevada, presenting a longer-term growth opportunity for Lahontan. The project is characterized by historic high-grade gold and silver intercepts from past drilling, with reported grades exceeding 20 g/t gold and 300 g/t silver. Initial exploration has confirmed the presence of oxidized tertiary epithermal vein systems, which are ideal for conventional heap leach processing. Core drilling in 2019 further validated the high-grade nature of Moho’s mineralization, with significant intercepts occurring at relatively shallow depths. Lahontan plans to conduct additional exploration drilling to refine resource estimates and assess potential economic viability.

        Management Team

        Kimberly Ann – Founder, Executive Chair, President and CEO

        Kimberly Ann is a seasoned mining executive who has founded multiple junior mining companies and held senior roles, including CEO, president, CFO, and board member. Over the past 12 years, she has raised more than $210 million in project financing and participated in three junior mining M&A transactions. At Prodigy Gold, she led corporate communications, equity financings, and analyst engagement, playing a key role in the company’s $340 million acquisition by Argonaut Gold. As CFO and VP corporate development at PPX Mining, she successfully advanced the high-grade Callanquitas gold-silver underground mine into production in Northern Peru. In 2017, Kimberly founded Latin America Resource Group, transforming Jasperoide from two small concessions into a 57 sq km copper-gold project in Peru’s most prolific mineralized belt. Following LARG’s 2020 merger with Carube Copper to form C3 Metals, she positioned the company for significant portfolio growth and value creation.

        Brian Maher – Founder and Vice-president of Exploration

        Brian Maher is an economic geologist with over 45 years of experience in the international mining and exploration industry. Prior to Lahontan, Maher was the president, CEO and director of Prodigy Gold, where he guided the company through a period of expansive growth, exploring and developing the 6.6 Moz Magino gold deposit in northern Ontario, culminating in the $341 million acquisition of Prodigy Gold by Argonaut Gold in 2012. In 1982, he began a 16-year career with ASARCO, exploring for gold and copper deposits in a variety of geologic environments throughout North and South America. From 1998 and 2004, he was project manager for Metallic Ventures Gold, supervising underground and surface exploration, mine development and operations at an underground gold mine in Nevada.

        John McNeice – CFO

        John McNeice is a chartered professional accountant registered in Ontario, Canada, with over 30 years of experience in public company reporting, financial management, accounting and audit. Currently McNeice is the CFO of Gold79 Mines (TSXV:AUU), C3 Metals (TSXV:CCCM) and Northern Graphite (TSXV:NGC), where he is responsible for financial and regulatory reporting as well as day-to-day financial management. He has held CFO roles in seven public resource companies over the past 17 years and has overseen IPOs, RTOs and many quarterly, annual and periodic public company filings. From 2004 to 2007, McNeice was CFO of Ur-Energy, a uranium exploration and development company now a US-based producer of uranium. During his tenure, Ur-Energy raised an aggregate of $150 million in a series of private placements, the IPO and several significant secondary financings.

        Josh Serfass – Independent Director

        Josh Serfass is the executive vice-president of corporate development and investor relations at Integra Resources. Previously, he was the manager of corporate communications at Integra Gold. He was a key member of the team at Integra Gold that grew, developed and sold the past producing Lamaque mine in Val-dOr, Québec to Eldorado Gold for C$590 million in 2017. Committed to thinking differently about mining, Serfass worked with the team at Integra Gold to host the 2016 Integra Gold Rush Challenge and the 2017 #DisruptMining Challenge, initiatives that encouraged innovation and technology disruption in the mining industry.

        Shane Williams – Independent Director

        Shane Williams is president, CEO, and director of West Red Lake Gold Mines, leading the restart of the Madsen Gold Mine. He was previously COO of Skeena Resources, advancing Eskay Creek, and VP of Operations and Capital Projects at Eldorado Gold, where he brought the Lamaque Gold Mine from PEA to production in just 18 months. As project director, he also oversaw Eldorado’s Skouries and Olympias projects with a combined US$1 billion capex, and earlier led development of Sweden’s Kaunis Iron open-pit mine from exploration to operation in 3.5 years. Williams holds a B.Eng. in Electrical Engineering and an M.Sc. in Project Management.

        Evan Pelletier – Independent Director

        Evan Pelletier is a mining executive with over 30 years of underground mining experience in North America, Mongolia, Argentina, and Africa. He is currently the interim general manager of the Galena Mine with Americas Gold & Silver, and previously served as VP of Mining at Kirkland Lake (2020–2022) and mine manager at the Macassa Mine (2016–2020). At Kirkland Lake, he helped grow the company from $400 million in 2016 to $13 billion in 2022, including oversight of a nearly 2,000-metre shaft with a $450 milliom budget, delivered on time and on budget.

        Max Pluss – Independent Director

        Max Pluss is an investment professional with experience across hedge funds, private equity, and venture capital. He is the Founder of Rhea Capital Management, backing and incubating mission-driven companies. Previously, he was an analyst at Extract Capital, a hedge fund focused on natural resource investments, and earlier advised public company CEOs on corporate development and market positioning. pluss holds a B.A. from Colorado College and M.B.A. degrees from Columbia University and London Business School.

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