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Silver Institute: Market Heading for Sixth Straight Deficit in 2026

Silver surged past US$100 per ounce for the first time in January before retreating below the US$80 level, marking a volatile start to 2026 as the precious metal faces renewed investor appeal.

In its latest annual outlook, published on February 10, the Silver Institute notes that the rally comes after a year when silver saw its strongest annual performance since 1979. Investor interest accelerated into early 2026 and pushed the price to multiple record highs, driving the gold-silver ratio below 50 for the first time since 2012.

Looking forward, global silver investment is expected to remain strong this year as the market posts its sixth consecutive annual deficit. The Institute’s forecast, based on analysis by London-based consultancy Metals Focus, points to a 67 million ounce shortfall in 2026, with total demand once again outstripping total supply.

Silver supply in 2026

On the supply side, total global silver output is forecast to increase by 1.5 percent in 2026 to 1.05 billion ounces, the highest level in a decade. Mine production is expected to edge up 1 percent to 820 million ounces, supported by stronger output from existing operations and newly commissioned projects.

Mexico is forecast to deliver much of the growth from primary silver mines. In China, higher output is expected from China Gold International Resources’ (TSX:CGG,OTCPL:JINFF) Jiama polymetallic mine as expansion continues.

Canada is projected to see gains from projects such as Hecla Mining’s (NYSE:HL) Keno Hill and New Gold’s (TSX:NGD,NYSEAMERICAN:NGD) New Afton, which is being acquired by Coeur Mining (NYSE:CDE). Morocco’s Zgounder mine is also ramping up production, while Peru is expected to record declines at certain operations.

By-product silver from primary gold mines is forecast to increase. Contributions are expected from Barrick Mining’s (TSX:ABX,NYSE:B) Pueblo Viejo in the Dominican Republic, Gold Fields’ (NYSE:GFI) Salares Norte in Chile and the Nezhda project in Russia, owned by SolidCore (formerly Polymetal International).

Output from primary silver mines is expected to remain largely flat, accounting for 28 percent of total mine supply.

Silver recycling supply is projected to rise 7 percent, exceeding 200 million ounces for the first time since 2012, as elevated price levels encourage scrap flows, particularly from silverware.

Although the silver price has cooled since this year’s highs, the Institute notes that it’s established technical support and remains underpinned by tight physical supply and ongoing macroeconomic uncertainty.

Many forces that drove silver in 2025 remain in place. Constrained physical availability in London, geopolitical tensions, US policy uncertainty and concerns about the US Federal Reserve’s independence continue to provide support.

Silver demand in 2026

On the demand side, total global silver consumption is forecast to remain broadly flat in 2026. Gains in physical investment are expected to offset weakness in jewelry, silverware and some industrial segments.

Meanwhile, industrial fabrication, the largest component of silver demand, is projected to decline by 2 percent to around 650 million ounces, marking a four year low.

As in 2025, the drag is seen coming primarily from the photovoltaic (PV) sector.

Although solar installations worldwide are expected to continue expanding, manufacturers are reducing silver use per panel through thrifting and substitution, resulting in lower silver demand from PV applications.

Other industrial uses offer partial relief. Growth in data centers, artificial intelligence technologies and automotive electronics is expected to sustain silver consumption across several end uses, mitigating some of the PV losses.

Consumer demand, however, remains under pressure from record-high prices. Jewelry demand is forecast to fall more than 9 percent to 178 million ounces, marking the lowest level since 2020.

In contrast, physical investment demand is set to strengthen considerably.

The Institute projects a 20 percent rise to a three year high in physical investment to 227 million ounces.

After three consecutive annual declines, western retail demand is expected to rebound as investors respond to silver’s price momentum and persistent macroeconomic risks.

Exchange-traded product holdings currently stand at an estimated 1.31 billion ounces, and coin and bar demand has firmed in recent months. As of February 9, the silver price was up 11 percent year-to-date.

Silver deficit to persist

Even with higher supply and recycling, the silver deficit is set to persist. The Institute notes that the global silver market will continue to rely on the drawdown of aboveground bullion inventories to bridge the gap.

While volatility is likely to continue, the Institute forecasts that strength in gold and sustained physical tightness may help cushion risks for silver as it navigates another year defined by deficit and demand.

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

This post appeared first on investingnews.com

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Syntholene Energy Corp Appoints International Geothermal Leader Eirikur Bragason as Lead Project Manager

Bragason has held senior leadership roles in 650 mW+ of Geothermal Energy Infrastructure Deployment Totalling ~$3.3b, Including the World’s Largest Geothermal Power Plant, Hellisheidi in Iceland.

Syntholene Energy CORP (TSXV: ESAF,OTC:SYNTF) (FSE: 3DD0) (OTCQB: SYNTF) (‘Syntholene’), announces the appointment of Eirikur Bragason as Lead Project Manager for Syntholene’s planned synthetic fuel demonstration facility and future commercial scale-up at its cornerstone production footprint in Iceland. Mr. Bragason will support Syntholene’s infrastructure development strategy, project governance, technical risk management, and expansion efforts.

Mr. Bragason brings more than 25 years of experience in geothermal energy development, large-scale power infrastructure, and complex project execution across Europe, Asia, and the Americas, strengthening the Company’s depth in geothermal energy, power plant construction, and large-scale energy infrastructure delivery.

Mr. Bragason has acted as Chief Project Manager or Senior Technical Lead on some of the world’s most significant geothermal and renewable energy projects. These include the Hellisheidi Geothermal Power Plant in Iceland, a combined 300 megawatt electric and 400 megawatt thermal facility recognized as the largest geothermal power plant on Earth. He also served as the Deputy General Manager of Sinopec Green Energy, overseeing a total of 4.2 gigawatts of thermal energy in operation encompassing a total investment of approximately $6 billion. Mr. Bragarson has further overseen major geothermal project development across Indonesia, the Philippines, Hungary, China, and Central Europe.

‘Syntholene is pursuing a technically rigorous and commercially disciplined approach to synthetic fuel production, differentiated by its unique integration of geothermal energy,’ commented Mr. Bragason. ‘I look forward to supporting the company as it transitions from demonstration facility to commercial scale, showcasing its potential to materially improve the economics of clean fuels.’

‘Eirikur is one of the most experienced geothermal project leaders in the world,’ said Dan Sutton, CEO of Syntholene. ‘His direct experience delivering utility-scale geothermal infrastructure, managing multinational development teams, and executing complex energy projects is aligned with Syntholene’s commercial scale-up strategy. As we advance our thermal hybrid power-to-liquids platform and deploy geothermal-anchored synthetic fuel production, his insight and operational discipline will be invaluable.’

Mr. Bragason is a globally recognized expert in geothermal power plant project management. Most recently, he served as Chief Operating Officer of Arctic Green Energy, where he oversaw international geothermal platform development and operational execution. Prior to that, he was Chief Executive Officer and Chief Project Manager of KS Orka Renewables and Orka Energy in Singapore, leading the development and delivery of geothermal assets across multiple jurisdictions.

About Geothermal Energy in Iceland

Iceland’s unique geological position atop the Mid-Atlantic Ridge provides exceptional access to high-temperature geothermal energy, which today serves as a cornerstone of its 100% renewable electricity grid, as well as providing over 90% of the nation’s district heating. This baseload power is characterized by its high capacity factors, often exceeding 90%, providing a level of grid stability that distinguishes it from intermittent renewables like wind and solar.

According to data from the Low-Carbon Power 2025 Report, Iceland’s geothermal infrastructure currently boasts an installed capacity of approximately 799 megawatts electrical equivalent (e), contributing nearly 28% of the country’s total electricity generation. The existing infrastructure, managed by leaders such as Landsvirkjun and ON Power, includes world-class facilities like the Hellisheidi and Reykjanes plants, which are increasingly integrating carbon capture and storage (CCS) technologies to move toward carbon-negative operations.

The National Energy Authority of Iceland (Orkustofnun) identifies a massive ‘understood potential’ for future development through the Master Plan for Nature Protection and Energy Utilization. Current estimates suggest that Iceland’s total geothermal energy potential for electricity generation is approximately 20 terawatt hours per year of high-enthalpy energy available for industrial scaling.

This stable political and geological environment has positioned Iceland as a hub for long-term industrial expandability, particularly for high-energy users in the eFuel and Digital Infrastructure sectors. Reports from atNorth and Country Reports note that the ‘predictable, low-cost nature of Icelandic geothermal power’ is attracting a new wave of industrial tenants, including eFuel producers and AI-ready data centers, who require scalable, 24/7 renewable energy to meet global ESG mandates.

Iceland continues to leverage its ‘geothermal-first’ policy to foster strategic collaborations between energy producers and prospective industrial customers. This synergy bolsters confidence that industrial users can secure long-term power purchase agreements (PPAs) that are insulated from the volatility of global fossil fuel markets, solidifying Iceland’s role as an energy powerhouse of the North Atlantic.

About Syntholene

Syntholene is actively commercializing its novel Hybrid Thermal Production System for low-cost clean fuel synthesis. The target output is ultrapure synthetic jet fuel, manufactured at 70% lower cost than the nearest competing technology today. The company’s mission is to deliver the world’s first truly high-performance, low-cost, and carbon-neutral synthetic fuel at an industrial scale, unlocking the potential to produce clean synthetic fuel at lower cost than fossil fuels, for the first time.

Syntholene’s power-to-liquid strategy harnesses thermal energy to power proprietary integrations of hydrogen production and fuel synthesis. Syntholene has secured 20MW of dedicated energy to support the Company’s upcoming demonstration facility and commercial scale-up.

Founded by experienced operators across advanced energy infrastructure, nuclear technology, low-emissions steel refining, process engineering, and capital markets, Syntholene aims to be the first team to deliver a scalable modular production platform for cost-competitive synthetic fuel, thus accelerating the commercialization of carbon-neutral eFuels across global markets.

For further information, please contact:
Dan Sutton, CEO
comms@syntholene.com 
www.syntholene.com
+1 608-305-4835

X: @Syntholene
Linkedin: Syntholene Energy
Youtube: Syntholene Energy

Investor Relations
KIN Communications Inc.
604-684-6730
ESAF@kincommunications.com

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

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words ‘expect’, ‘anticipate’, ‘aims’, ‘continue’, ‘estimate’, ‘objective’, ‘may’, ‘will’, ‘project’, ‘should’, ‘believe’, ‘plans’, ‘intends’ and similar expressions are intended to identify forward-looking information or statements. All statements, other than statements of historical fact, including but not limited to statements regarding the completion of the demonstration facility, commencement commercialization efforts, potential to materially improve the economics of clean fuel, the successful implementation of the test facility, commercial scalability, technical and economic viability, anticipated geothermal power availability, anticipated benefit of eFuel, and future commercial opportunities, are forward-looking statements.

The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including without limitation the assumption that the Company will be able to execute its business plan, that the eFuel will have its expected benefits, that there will be market adoption, and that the Company will be able to access financing as needed to fund its business plan. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, without limitation, Syntholene’s ability to meet production targets, realize projected economic benefits, overcome technical challenges, secure financing, maintain regulatory compliance, manage geopolitical risks, and successfully negotiate definitive terms. Syntholene does not undertake any obligation to update or revise these forward-looking statements, except as required by applicable securities laws.

Readers are advised to exercise caution and not to place undue reliance on these forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284115

News Provided by TMX Newsfile via QuoteMedia

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Empire Metals Limited Announces Major Drilling Campaign to Commence at Pitfield

LONDON, UK / ACCESS Newswire / February 17, 2026 / Empire Metals Limited (LON:EEE)(OTCQX:EPMLF), the AIM-quoted and OTCQX-traded exploration and development company, is pleased to announce the commencement of a major drilling campaign at the Pitfield Project in Western Australia (‘Pitfield’ or the ‘Project’). This programme is designed to evaluate the extent of the giant TiO2 mineral system at Pitfield, expand the Cosgrove Mineral Resource Estimate (MRE), and enhance the confidence levels associated with the MRE at Thomas.

Highlights

  • A total of 754 drill holes are planned:

    • 683 Air Core (‘AC’) drillholes for approximately 34,150 metres, and

    • 71 Reverse Circulation (‘RC’) drillholes for approximately 7,100 metres,

    • totalling 41,250 metres of drilling.

  • The fully funded campaign will utilise 3 AC drill rigs and 2 RC rigs and drilling is expected to be completed by mid-April.

  • The key outcome of the drilling will be an updated MRE at Thomas, with increased resource classification into the Measured and Indicated categories, and a significantly larger updated MRE at Cosgrove.

  • Updated MRE anticipated in Q3 2026 to support ongoing engineering and study work.

Shaun Bunn, Managing Director, said:‘We are pleased to commence this important drilling campaign at Pitfield, focused on upgrading our maiden MRE from the Thomas and Cosgrove Prospects (announced 14 October 2025) and extending the exploration target area. This fully-funded campaign is the largest undertaken to date at Pitfield and will significantly improve our understanding of the scale and grade of the Pitfield MRE, and also increase the confidence levels of Measured and Indicated Resources in readiness for developing mine design and Ore Reserves.’

Drilling Programmes

The titanium discovery at Pitfield is of unprecedented scale and hosts one of the largest and highest-grade titanium resources reported globally, with a current MRE totalling 2.2 billion tonnes grading 5.1% TiO₂ for 113 million tonnes of contained TiO₂.

The MRE, which covers only the Thomas and Cosgrove deposits, includes a weathered zone resource of 1.26 billion tonnes at 5.2% TiO₂ and a significant Indicated Resource of 697 million tonnes at 5.3% TiO₂, predominantly from the Thomas deposit. Titanium mineralisation at Pitfield occurs from surface and displays exceptional grade continuity along strike and down dip. The MRE extends across just 20% of the known mineralised footprint, providing substantial potential for further resource expansion.

Since commencing the maiden drilling campaign at Pitfield on 27 March 2023, Empire has completed 390 drill holes for a total 33,001 metres comprising:

  • 25 DD drill holes for 3,449 m

  • 140 RC drill holes for 18,764 m

  • 225 AC drill holes for 10,797 m.

Diamond drilling was recently conducted at the Thomas prospect, from mid-November to mid-December 2025 (announced 12 November 2025). A total of 8 holes were drilled for 745.1m.

The diamond drilling targeted the high-grade central core identified within the Thomas MRE with the primary purpose of generating ore samples for metallurgical and geotechnical testwork. The whole drill core underwent extensive geotechnical evaluation prior to cutting core samples. A quarter core sample was collected for assay analysis. These samples have been submitted to the analytical laboratory for analysis, with final results expected in Q1 2026.

Largest drilling campaign to date to commence at Pitfield

An extensive AC and RC drill programme has been planned at Pitfield consisting of exploration drilling, initial mineral resource drilling and infill mineral resource drilling. AC drilling has previously been used at Pitfield to drill-test the weathered cap and collect bulk metallurgical samples (announced 28 April 2025). It is a cost-effective, efficient and proven drilling method at Pitfield that is commonly used for shallow exploration projects, and the success of the previous drilling campaigns has confirmed its suitability for use in the Pitfield MREs.

The drill programme, the largest at Pitfield to date, will cover an area 37km long and up to 12km wide. There are 754 holes planned for a total of 41,250m. All programmes will take place in parallel ensuring the drilling is more efficient and cost effective. It is expected that the drilling will begin in late February and finish in mid-April. There will be up to 5 drill rigs at the project. Once completed, Empire will have drilled close to 75,000 meters at Pitfield.

The exploration drilling will be focused on delineating the extents of the giant Pitfield Ti-rich mineral system. Recent drilling has focussed on the Thomas and Cosgrove prospects to delineate MREs, however this has focussed on less than 20% of the currently known surface area of the mineral system. This exploration drilling campaign will generate data that will provide a much better understanding of the size of the system, the mineralisation and associated alteration and extend the area explored by drilling to 60-70% of the currently identified area of mineralization. Furthermore, the drilling will also provide essential information to support the study phase regarding the location of high-grade titanium mineralisation and the potential sites for process and infrastructure facilities.

At Thomas, AC and RC drilling will take place on a smaller spaced grid (100m x 100m) over the higher grade TiO2 rich core of the deposit to increase the confidence level of the current MRE. The drilling will focus on the weathered zone where the anatase is most prevalent.

At Cosgrove, an extensive AC and RC programme will occur to extend the current MRE to the north and the south. This drilling, as at Thomas, will be focussed on the weathered zones with the aim of significantly increasing the current MRE of 430Mt @ 5.8% TiO2. The location and spacing of the planned AC/RC drillholes have been designed to complement the existing MRE and allow the data generated from this drill programme to be incorporated with the existing MRE data which will potentially mean efficiencies in generating the updated MRE for Cosgrove.

The AC and RC drillholes will be geologically logged and sub-sampled on 2m intervals and geochemically analysed; this data will provide the basis for the updated MREs at Thomas and Cosgrove Prospects.

The drilling is expected to finish mid-April with all samples to be at Intertek Analytical Laboratory in Perth by the end of April.

Figure 1. Satellite image of Pitfield showing planned drill collars in relation to current MRE outlines.

Competent Person Statement
The technical information in this report that relates to the Pitfield Project has been compiled by Mr Andrew Faragher, an employee of Empire Metals Australia Pty Ltd, a wholly owned subsidiary of Empire. Mr Faragher is a Member of the Australian Institute of Mining and Metallurgy (AusIMM). Mr Faragher has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being 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 Faragher consents to the inclusion in this release of the matters based on his information in the form and context in which it appears.

**ENDS**

For further information please visit www.empiremetals.co.uk or contact:

Empire Metals Ltd

Shaun Bunn / Greg Kuenzel / Arabella Burwell

Tel: 020 4583 1440

S. P. Angel Corporate Finance LLP (Nomad & Joint Broker)

Ewan Leggat / Adam Cowl

Tel: 020 3470 0470

Canaccord Genuity Limited (Joint Broker)

James Asensio / Christian Calabrese / Charlie Hammond

Tel: 020 7523 8000

Shard Capital Partners LLP (Joint Broker)

Damon Heath

Tel: 020 7186 9950

Tavistock (Financial PR)

Emily Moss / Josephine Clerkin

empiremetals@tavistock.co.uk

Tel: 020 7920 3150

About Empire Metals Limited
Empire Metals Ltd (AIM:EEE)(OTCQX:EPMLF) is an exploration and resource development company focused on the commercialisation of the Pitfield Titanium Project, located in Western Australia. The titanium discovery at Pitfield is of unprecedented scale and hosts one of the largest and highest-grade titanium resources reported globally, with a Mineral Resource Estimate (MRE) totalling 2.2 billion tonnes grading 5.1% TiO₂ for 113 million tonnes of contained TiO₂.

Titanium mineralisation at Pitfield occurs from surface and displays exceptional grade continuity along strike and down dip. The MRE extends across just 20% of the known mineralised footprint, providing substantial potential for further resource expansion.

Conventional processing has already produced a high-purity product grading 99.25% TiO₂, suitable for titanium sponge metal or pigment feedstock. With excellent logistics and established infrastructure, Pitfield is strategically positioned to supply the growing global demand for titanium and other critical minerals.

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.

SOURCE: Empire Metals Limited

View the original press release on ACCESS Newswire

News Provided by ACCESS Newswire via QuoteMedia

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Editor’s Picks: Gold, Silver Prices Dip and Bounce Back, Plus Top Takeover Candidate

Gold and silver were having a fairly quiet week until Thursday (February 12), when both precious metals experienced steep drops early in the day.

The gold price, which had been steady above US$5,000 per ounce, and even briefly breached US$5,100, tumbled by over US$100, bottoming out around US$4,900.

Meanwhile, silver sank from above US$80 per ounce to below US$75.

Market watchers have presented various reasons for these declines, with a mainstream talking point being that the precious metals were moving in line with the broader stock market.

Thursday brought declines in major US indexes as investors reportedly reacted to concerns that various industries could be negatively impacted by AI automation.

Of course, with gold and silver it’s always possible that there’s more going on beneath the surface. Many of our popular YouTube channel guests reacted to this week’s price drop on X, with some, including Willem Middelkoop and Craig Hemke, suggesting manipulation was at play.

I’ve also read that a Russian memo seen by Bloomberg may have had a dampening effect on gold — the report details proposals sent by the Kremlin that could see the country return to the US dollar settlement system as part of an economic partnership with the Trump administration.

Whatever the reason for the decrease was, gold and silver had bounced back by Friday (February 13), with silver getting back above US$77 and gold closing at the US$5,043 level.

The rebound came despite slightly cooler than expected US consumer price index data, which eased inflation concerns and boosted interest rate cut expectations from the US Federal Reserve.

Looking forward, I want to emphasize again that the broad consensus among the experts I’ve been speaking to continues to be that the run in gold and silver prices isn’t over.

However, that doesn’t mean the path will be straight up. I heard this week from Keith Weiner of Monetary Metals, who spoke about the importance of weathering volatility:

‘I mean, we’re in dollar bear market for reasons. And so people better be prepared for the volatility, because as things go off the rails, which is what’s happening to the dollar, yeah, there’s volatility. And there’s days when people can’t sell the dollar enough, and there’s days when they’re desperately, urgently trying to grab as many fistfuls of dollars as they can, and the dollar is extremely well bid — you’ll see that as the price of gold falling. So you’re going to get it both ways, but the trend is clear and the drivers are clear.’

Keith is calling for US$6,000 gold in 2026 and a silver price of US$120 by the end of the year. The US$6,000 number is in line with recent projections from BNP Paribas and CIBC, whose forecasts indicate that major banks also still see strength in gold.

Bullet briefing — Top takeover candidates

Merger talks between commodities giants Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Glencore (LSE:GLEN,OTCPL:GLCNF) have fallen through, nixing what would have been the mining industry’s biggest-ever deal, but M&A activity in the space continues to heat up.

A new survey from TD Cowen identifies IAMGOLD (TSX:IMG,NYSE:IAG) as the year’s top takeover candidate, with close to 20 percent of the 58 respondents pointing to the company.

Artemis Gold (TSXV:ARTG,OTCQX:ARGTF) was in second place at 11 percent, while Arizona Sonoran Copper Company (TSX:ASCU,OTCQX:ASCUF) was third at 7 percent.

Almost all of the respondents, who included institutional investors and mining executives, said they expect to see more gold, silver and copper M&A in 2026 compared to last year.

We’ll have to wait and see how any potential deals play out, including Barrick Mining’s (TSX:ABX,NYSE:B) planned initial public offering for its North American gold assets.

Newmont (NYSE:NEM,ASX:NEM), Barrick’s partner at the Nevada Gold Mines joint venture, said it is concerned about the management of the operation, and wants to see improvements — a clash between the two miners could end up disrupting Barrick’s plans.

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

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Justice Department’s antitrust chief says she’s leaving, effective immediately

The head of the Justice Department’s antitrust unit said Thursday she is leaving the role, effective immediately, at a critical moment for corporate mergers in America.

Gail Slater, the assistant attorney general in charge of the Antitrust Division, wrote on X: ‘It is with great sadness and abiding hope that I leave my role as AAG for Antitrust today.’

Slater continued, ‘It was indeed the honor of a lifetime to serve in this role. Huge thanks to all who supported me this past year, most especially the men and women of’ the Department.

The White House referred questions to the Justice Department.

Attorney General Pam Bondi said in a statement, “On behalf of the Department of Justice, we thank Gail Slater for her service to the Antitrust Division which works to protect consumers, promote affordability, and expand economic opportunity.”

Slater is leaving just as media giants Netflix and Paramount Skydance battle for control of Warner Bros. Discovery.

President Donald Trump had said he was going to get involved in reviewing whichever Warner Bros. deal proceeds, an uncommon occurrence in antitrust matters.

But in an interview with NBC News, Trump slightly changed his tune. ‘I’ve been called by both sides, it’s the two sides, but I’ve decided I shouldn’t be involved,’ he said.

‘The Justice Department will handle it.’

Trump has met with executives from both of Warner Bros.’ bidders.

The Justice Department will also head to court in weeks in a bid to challenge concert venue manager Live Nation’s ownership of Ticketmaster.

Shares of Live Nation jumped as much as 5.8% after Slater announced her departure. By 1 p.m. ET, the rally had abated to around 2.5%.

When the Senate confirmed Slater, 78 senators from both sides of the aisle voted in her favor. Only 19 opposed her confirmation.

This week, her deputy in the Antitrust Division also departed.

Mark Hamer, deputy assistant attorney general for the Antitrust Division, wrote on LinkedIn, ‘Decided the time is right for me to return to private practice.’ He praised Slater as a ‘leader of exceptional wisdom, strength and integrity.’

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When Diamonds Are Not Forever: NWT’s Diamond Industry Begins to Crack Under Pressure

More than three decades after diamonds transformed Canada’s Northwest Territories (NWT) into a global mining powerhouse, the industry that once defined the region’s modern economy is facing a painful reckoning.

While governments and investors have spent the past several years focused on critical minerals and battery metals, the NWT’s diamond mines are grappling with falling prices, lab-grown competition, tariff disruptions and mounting financial strain.

With one major mine set to close within weeks and others under pressure, leaders across the North are asking a seemingly once unthinkable question: what comes after diamonds?

From staking rush to global player

The modern diamond era in the NWT began in November 1991, when geologists Chuck Fipke and Stewart Blusson discovered 81 small diamonds at Lac de Gras. The find triggered the largest diamond staking rush in North American history and led to the development of the EKATI Diamond Mine, Canada’s first.

By 2004, more than 28 million hectares across the NWT and Nunavut had been staked. Canada rose to become the world’s third-largest diamond producer by value, behind Botswana and Russia, largely on the strength of the NWT’s output.

For decades, the sector generated thousands of high-paying jobs and helped build Indigenous-owned businesses across the territory. At its peak, more than 3,000 Indigenous workers were employed at the region’s three diamond mines.

Today, that foundation is starting to show cracks.

All pressure, no diamonds

Rio Tinto’s (ASX:RIO,NYSE:RIO,LSE:RIO) Diavik mine, one of the pillars of the industry, is scheduled to close next month.

Although the company recently unveiled a rare 158.2-carat yellow diamond from the site last year, described by COO Matt Breen as a “miracle of nature,” the symbolic discovery cannot reverse the mine’s finite life.

In addition, De Beers ( a subsidiary of Anglo American (LSE:AAL,OTCQX:NGLOY)) and Mountain Province Diamonds’ (TSX: MPVD,OTC:MPVD) Gahcho Kué mine has paused a project that would have extended operations from 2027 to 2030, raising concerns about its longevity.

Meanwhile, EKATI, owned by Australia’s Burgundy Diamond Mines (ASX:BDM), is battling financial distress after diamond prices fell at least 20 percent following its acquisition of the asset.

In the legislature this week, Monfwi MLA Jane Weyallon Armstrong warned of the consequences.

“The closure of Diavik and Gahcho Kué will have a significant impact on Tłı̨chǫ communities and today, the GNWT has no meaningful alternative,” she said.

Premier R.J. Simpson acknowledged the challenge. “We’re at a point now where we know the diamond mines are winding down, and the question has been: ‘OK, well, what’s next?’” he said in a recent interview.

Market headwinds multiply

The industry’s struggles are not simply a matter of geology. Natural diamond prices have been under sustained pressure, battered by several macroeconomic forces converging at once.

For instance, lab-grown diamonds—chemically identical to natural stones and available at a fraction of the price—have rapidly gained acceptance among consumers. What was once a niche product is now mainstream, particularly among younger buyers drawn to lower costs.

Canadian diamonds long marketed themselves as ethical alternatives to so-called “blood diamonds.” But synthetic stones can make similar claims, weakening one of the natural industry’s key selling points.

Luxury spending has also softened, and new trade barriers have added further strain. A 50 percent US tariff on Indian imports has disrupted the global polishing pipeline, since most rough diamonds are cut and finished in India before being sold into the US market.

The owner of EKATI has linked its financial difficulties in part to those tariffs, as well as to the broader collapse in natural diamond prices. The company recently received a C$115 million federal loan under a facility designed to assist businesses affected by US trade disruptions.

Even so, EKATI suspended parts of its operations last year and has faced criticism from workers over layoffs and severance payments. Burgundy has publicly acknowledged serious financial problems and indicated it may need additional funding if prices fail to recover.

At Gahcho Kué, Mountain Province Diamonds is navigating its own funding challenges. Acting president and CEO Jonathan Comerford said the company’s difficulties reflect “the prolonged weakness in the diamond sector.”

“In this environment, our focus remains on carefully managing costs, protecting liquidity, and making measured decisions to support the long-term sustainability of our operations,” Comerford said.

The company has received in-kind funding notices from joint-venture partner De Beers totalling approximately C$49.2 million related to unpaid cash calls.

Political pressure builds

Territorial leaders are also under growing pressure to respond.

Minister of Industry Caitlin Cleveland described the Gahcho Kué announcement as “serious news for the Northwest Territories.”

“Prices are weak, costs are high, and companies are having to make difficult calls,” Cleveland said in a recent statement. She emphasized that while the GNWT cannot control global markets, it will work to ensure worker supports are accessible and employers meet labour standards if job impacts occur.

But some structural issues are harder to address. Yellowknife North MLA Shauna Morgan questioned how the government can enforce socio-economic commitments made by mining companies when they established operations.

Simpson conceded that those agreements lack enforcement clauses such as fines.

“This is about building relationships and ensuring that we’re staying on top of this,” he said.

Meanwhile, calls for diversification are growing louder. “This announcement also reinforces a broader reality for our territory: our economic base remains too dependent on a single commodity,” Cleveland said.

Searching for the next chapter

There are hopes that critical minerals could help fill the gap. Exploration for rare earths and other strategic metals is increasing, reflecting global demand tied to electrification and defense technologies.

Weyallon Armstrong has argued that infrastructure, including expanded road connections from the Tłı̨chǫ region, could unlock new development corridors.

“We may not have a Ring of Fire, but we could have a frosty circle,” she said, referencing Ontario’s mineral-rich region.

Yet even optimistic observers acknowledge that no single project is likely to replicate the scale and stability diamonds once provided. For community leaders, the uncertainty is deeply personal.

“It’s kind of a scary situation,” Chief Fred Sangris of the Yellowknife Ndilo community of the Dene First Nation told the New York Times last year. “Where do we go from here? What’s the next project?”

Diamonds have long symbolized permanence. In the Northwest Territories, especially this Valentine’s season where icons of everlasting love dominate the market, that symbolism now feels more strained than ever.

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

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Filing of Initial Prospectus

Panther Metals Plc (LSE: PALM), the exploration company focused on mineral projects in Canada, is pleased to announce that it has filed a preliminary non-offering prospectus (the ‘Prospectus’) with the Ontario Securities Commission (the ‘Commission’) and has applied to the Canadian Securities Exchange (the ‘CSE’) for a secondary listing of its ordinary shares on the CSE in Canada (the ‘Listing’). The Company’s ordinary shares will continue to be listed on the official list of the UK Financial Conduct Authority and traded on the main market for listed securities of the London Stock Exchange plc.

Final acceptance of the Prospectus and the Listing are subject to the review and approval of the Commission and the CSE, respectively. The Prospectus contains important information relating to the Company and its currently issued shares capital and is subject to amendment as may be required by the Commission. The Prospectus will be available for review under Panther’s profile on the Canadian System for Electronic Document Analysis and Retrieval (‘SEDAR+’) at www.sedarplus.ca.

The Company believes that the Listing will enable the Company to provide liquidity to its existing shareholders and offer the opportunity to raise additional capital to build out its business and execute its business plans through exposure to a range of new investors on one of the premier public markets for the mining sector. The Company can give no assurances that the Listing will be successful or that, if it is successful, that any significant market for its securities will develop. The Listing will be subject to the Company fulfilling all of the CSE’s listing requirements and the Company being receipted for a final prospectus with the securities regulatory authorities in the Province of Ontario.

There can be no guarantee that a receipt for the final prospectus will be obtained from the Commission or that the CSE will accept the Listing.

The Company also announces that it has prepared, in accordance with the provisions of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, a technical report dated 12 January 2026 (the ‘Technical Report’) in respect of the Obonga Project located in the Obonga Lake Area in Ontario, Canada (the ‘Property’). The Technical Report is titled ‘NI 43-101 Technical Report on the Obonga Project, Obonga Lake Area, Thunder Bay Mining Division, Ontario, Canada‘ and was prepared by Neil Pettigrew, M.Sc., P.Geo. of Fladgate Exploration Consulting Corporation. A copy of the Technical Report will be available under the Company’s profile on SEDAR+ and a link is available on the Company’s website at https://panthermetals.com/investors/presentation

This announcement has been authorised by the Board of Directors.

For further information, please contact:

Panther Metals PLC:

Darren Hazelwood, Chief Executive Officer:

+44 (0)1462 429 743

+44 (0)7971 957 685

Cautionary Notes Concerning Forward-Looking Statements

This press release contains forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the Listing, the receipt for the preliminary and final non-offering prospectus from the OSC, and statements relating to the exploration of the Property are forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. The Company has made certain assumptions about the forward-looking information, including the ability to receive a final receipt for its Prospectus and its ability to obtain the Listing on the CSE and timing of these events, the benefits to be derived from being a public company, that the Listing application will be successful, or that if it is successful, that any significant market for its securities will develop. Although the Company’s management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate.

Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, the possibility that planned exploration programs will be delayed, uncertainties relating to the availability and costs of financing needed in the future, activities of the Company may be adversely impacted by the current economic conditions, including the ability of the Company to secure additional financing, the possibility that future development of Company’s products and services results will not be consistent with the Company’s expectations, changes to regulations affecting the Company’s activities, delays in obtaining or failure to obtain required approvals, and the other risks disclosed under the heading ‘Risk Factors’ in the Prospectus.

Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

Source

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A.I.S. Resources’ Saint John Copper/Gold/Antimony Project Gets TSXV Acceptance

A.I.S. Resources Limited (TSXV: AIS,OTC:AISSF, OTC-Pink: AISSF) (‘AIS’ or the ‘Company’) is pleased to announce it has received TSXV Exchange acceptance for the September 15, 2025 earn-in agreement with Riversgold Ltd. (ASX: RGL) (‘Riversgold’), granting AIS the right to acquire up to a 75% interest in the new Saint John IOCGPorphyry Project located in New Brunswick, Canada (the ‘St. John Project’).

AIS CEO, Marc Enright-Morin commented, ‘Now that we have received Exchange acceptance we are excited to move forward with this unique opportunity to advance a possible IOCG/porphyry system.’

Additional Information Regarding Transaction Terms:

  • Upon TSXV acceptance AIS shall issue 2,860,000 shares at $0.05 per share to Riversgold.
  • To earn 51% of the St. John Project, AIS shall spend:
    • Year 1: CAD $400,000 on early exploration, including drone MobileMT surveys, IP survey, and 1,000 meters of approved drilling.
    • Year 2: CAD $1 million additional drilling.
  • To earn 75%, AIS shall spend:
    • Year 3-4: CAD $3 million on drilling and early development work.
  • Riversgold will retain a 25% free-carried interest through to the decision to mine.
  • If at any time Riversgold’s interest is diluted below 10%, its interest shall be converted to a 2% NSR. AIS shall have the right to purchase the NSR for $1 Million per 1%.
  • Riversgold is party to an underlying option agreement wherein Riversgold may earn a 100% interest in the St. John Project by paying:
    • $25,000 in cash and an additional $35,000 in cash &/or shares of Riversgold upon closing of the underlying option agreement (PAID)
    • $25,000 in cash and an additional $35,000 in cash &/or shares of Riversgold on the first anniversary of closing (PAID)
    • $25,000 in cash and an additional $35,000 in cash &/or shares of Riversgold on each of the second through fourth anniversaries of closing.
  • In the event that Riversgold receives a default notice from the optionors of the underlying agreement Riversgold shall immediately notify AIS. AIS shall have the right to rectify the default. Any payments made by AIS to the optionors shall be applied toward AIS’ earn in expenditures.
  • The underlying option agreement is subject to a 2% Gross Smelter Return royalty (GSR) payable to the underlying optionors. AIS shall have the right to purchase the GSR for $1 Million per 1%.
  • AIS is at arms’ length to both Riversgold and the underlying optionors.

About the Saint John Project:

The Saint John Project is a district-scale IOCG/porphyry exploration target providing strategic exposure to gold and silver (precious metals), copper (energy transition metal), and antimony (critical mineral).

The project covers 101 km² in a Tier-1 mining jurisdiction. Located just 20 km west of Saint John, New Brunswick and 50 km from the U.S. border, the project benefits from exceptional infrastructure, including highways, rail, deep-water port, power stations, and a skilled local workforce.

Riversgold have released multiple press releases on the Australian Stock Exchange over the past year as they have moved this project up the value chain. Geological results were previously disclosed by Riversgold in press releases on ASX dated January 29, 2025 and April 9, 2025. Refer to www.riversgold.com.au

Geological Highlights:
Little Lepreau Prospect

  • Roadside Quary surface samples: Gold up to 41.6 g/t, Silver up to 1,600 g/t, Copper up to 7.64%, Antimony >1%.
  • Magnetic data received from the high resolution 25 metre line spaced survey has delineated multiple magnetic low response areas that bear a similar magnetic signature to the Roadside Quarry mineralization.
  • Maiden drilling (2,000m) approved for 2025.

Prince of Wales Prospect

  • surface samples: Gold up to 11.4 g/t, Silver up to 1,050 g/t, Copper up to 10.55%, Lead up to 18.85%.

Hideaway Prospect

  • surface samples: Gold up to 1.7 g/t, Silver up to 8 g/t, Copper up to 2.01%.

Next Steps:

  • Expand drone MobileMT + IP surveys across the whole project and refine drill targets (~CAD $300,000 budget).
  • Commence 2,000m maiden RC/DD drill program at Little Lepreau in 2025/2026.

Figure 1 – Saint John Project (Source of Map: Riversgold press release on ASX dated April 9, 2025)

Figure 2 – Prince of Wales roadside cutting with exposed mineralization (Source of Map: Riversgold press release on ASX dated January 29, 2025)

Figure 3 – Little Lepreau Roadside Quarry Prospect (Inset 1) – Sample Grades (Source of Map: Riversgold press release on ASX dated April 9, 2025)

Figure 4 – Hideaway Prospect (Inset 2) – Sample Grades (Source of Map: Riversgold press release on ASX April 9, 2025)

Figure 5 – Price of Wales Prospect (Inset 3) – Sample Grades (Source of Map: Riversgold press release on ASX dated April 9, 2025)

Technical information in this news release has been reviewed and approved by Mr. Edward Mead, who is a Qualified Person under the definitions established by the National Instrument 43-101 and who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Mead is a director of Riversgold Ltd and a consultant to Riversgold through Doraleda Pty.

About A.I.S. Resources Limited

A.I.S. Resources Limited is a publicly traded company listed on the TSX Venture Exchange. The company focuses on natural resource opportunities, aiming to unlock value by acquiring early-stage projects and providing the necessary technical and financial support to develop them. AIS is guided by a seasoned team of engineers, geologists and finance professionals with a proven record of success in capital markets.

On Behalf of the Board of Directors,
A.I.S. Resources Limited
Marc Enright-Morin, CEO

Corporate Contact
For further information, please contact:
Marc Enright-Morin, CEO
T: +1-778-892-5455
E: marc@aisresources.com
Website: www.aisresources.com

ADVISORY: This press release contains forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/48c338b6-6f73-48a5-a481-5c10a5fc204d

https://www.globenewswire.com/NewsRoom/AttachmentNg/42629e14-de90-407c-aaca-9a1d8bb711f1

https://www.globenewswire.com/NewsRoom/AttachmentNg/3215ca6f-1838-437b-8fc9-f03cc7ae622b

https://www.globenewswire.com/NewsRoom/AttachmentNg/c568ef5c-ded4-4acf-bdb0-c4d777a80641

https://www.globenewswire.com/NewsRoom/AttachmentNg/e3caeb97-33be-4ab5-ae3f-52889b7c81b1

News Provided by GlobeNewswire via QuoteMedia

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Tech Weekly: AI “Scare Trade” Spills into New Sectors

We also break down next week’s catalysts to watch to help you prepare for the week ahead.

In this article:

    This week’s tech sector performance

    The Nasdaq Composite (INDEXNASDAQ:.IXIC) ended in the green on Monday (February 9) despite a weaker open.

    A rally in tech companies drove US stocks higher ahead of an economic data release, while Asian indexes also rose, led upward by Japan’s tech‑heavy Nikkei 225 (INDEXNIKKEI:NI225).

    It hit new record highs after Prime Minister Sanae Takaichi’s Liberal Democratic Party secured a landslide victory in the Lower House, clearing the path for tax cuts and higher defense spending.

    Tax planning and wealth management stocks fell on Tuesday (February 10) after financial software provider Altruist unveiled an artificial intelligence (AI) tool for creating tax strategies, echoing last week’s selloff in legal software stocks following the debut of a lawyer-focused AI platform.

    Broader tech‑driven weakness and softer‑than‑expected retail‑sales data dragged the Nasdaq down in Tuesday’s session. The index rose again on Wednesday (February 11) after January data showed labor market stability, potentially allowing the US Federal Reserve to keep interest rates steady as it monitors inflation.

    Software stocks resumed their slide, with Alphabet (NASDAQ:GOOGL) at one point down more than 2 percent, Microsoft (NASDAQ:MSFT) falling over 2.5 percent and Amazon (NASDAQ:AMZN) slipping about 1 percent.

    Personal computer makers also fell after Lenovo Group (HKEX:0992,OTCPL:LNVGF) warned of shipment pressure from a memory chip shortage. HP (NYSE:HPQ) and Dell Technologies (NYSE:DELL) each lost about 4.5 percent.

    After a muted close, investors turned their AI disruption fears to yet another corner of the market on Thursday (February 12). This time, it was logistics and trucking stocks, which plummeted after AI logistics firm Algorhythm Holdings (NASDAQ:RIME) said it has scaled freight volumes by 300 to 400 percent without increasing headcount.

    This event showed traders that AI is now affecting sectors previously thought to be resistant to automation and AI‑driven efficiency gains, leading to selloffs that also spilled into real estate and drug distribution.

    All three major indexes closed lower, with the Nasdaq hit hardest.

    A softer-than-expected US consumer price index report released on Friday (February 13) morning reinforced beliefs that the Fed is likely to cut interest rates this year, while global concerns about potential AI-driven disruptions kept investors cautious. European and Asian indexes lost ground, tracking Wall Street’s losses.

    While the S&P 500 (INDEXSP:.INX) closed slightly ahead on the day, mega-cap tech stocks dragged on the Nasdaq, which closed the week 1.77 percent below Monday’s open.

    3 tech stocks moving markets this week

    1.Cloudflare (NYSE:NET)

    Cybersecurity firm Cloudflare saw its share price surge after its sales guidance for the current quarter exceeded expectations. Shares closed 13.07 percent higher for the week.

    2. Applied Materials (NASDAQ:AMAT)

    Applied Materials, a provider of materials engineering solutions for the semiconductor sector, saw its share price rise sharply after reporting better-than-forecast quarterly financial results. Shares advanced 10.05 percent.

    3. Taiwan Semiconductor Manufacturing Company (NYSE:TSM)

    Taiwan Semiconductor Manufacturing Company rose after D.A. Davidson analyst Gil Luria gave it a ‘buy’ rating with a US$450 price target and called it a top AI foundry name. Shares advanced 5.02 percent.

    Cloudflare, TSMC and Applied Materials performance, February 9 to 13, 2026.

    Chart via Google Finance.

    Top tech news of the week

        • Alphabet completed two bond sales this week, raising a combined total of nearly US$52 billion. On Monday, the company sold US$20 billion in US dollars, followed by a nearly US$32 billion multi‑currency bond sale in British pounds and Swiss francs completed within 24 hours on Tuesday.

                                    Tech ETF performance

                                    Tech exchange-traded funds (ETFs) track baskets of major tech stocks, meaning their performance helps investors gauge the overall performance of the niches they cover.

                                    This week, the iShares Semiconductor ETF (NASDAQ:SOXX) advanced by 2.56 percent, while the Invesco PHLX Semiconductor ETF (NASDAQ:SOXQ) advanced by 1.89 percent.

                                    The VanEck Semiconductor ETF (NASDAQ:SMH) also increased by 2.19 percent.

                                    Tech news to watch next week

                                    Tech stocks face a quieter earnings backdrop next week, with no mega‑cap AI giants reporting; instead, the sector will be trading on macro cues and any guidance hints from mid‑tier semis and software names.

                                    Key US data includes jobs‑related releases and consumer confidence surveys.

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

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