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TORONTO, ON / ACCESS Newswire / March 11, 2026 / AmeriTrust Financial Technologies Inc. (TSXV:AMT,OTC:AMTFF)(OTCQB:AMTFF)(Frankfurt:1ZVA) (‘AmeriTrust‘, ‘AMT‘ or the ‘Company‘), a fintech platform targeting automotive finance is pleased to provide an update of corporate activities since the closing of the recent financing.

Corporate Matters

Jeff Morgan AmeriTrust CEO, commented: ‘Over the past year, our team has been focused on building the corporate foundation necessary to scale AmeriTrust across the United States. We have made meaningful progress across funding, technology, dealer onboarding, and operational infrastructure and we are now accepting applications and originating and funding vehicle leases.

Today, AmeriTrust now operates through three wholly owned U.S. subsidiaries, each designed to address a unique component of our automotive finance ecosystem. With our corporate structure now established and new websites launched for all three entities, we are positioned to begin scaling our platform nationally.’

1. AmeriTrust Financial (www.ameritrustfinancial.com) is an indirect finance company that offer’s new and used lease financing through franchised and independent dealer partners nationwide in the U.S.

The Company recently executed a new funding agreement for a revolving line of credit with the Bank of Texas. This first facility provides AmeriTrust Financial with competitively priced cost of funds that can be ‘recycled’ as the Company’s portfolio grows. The funding facility represents an important milestone and establishes the financial infrastructure necessary to support scalable originations.

AmeriTrust Financial has implemented a three-phase approach to expanding its dealer network. The first phase is to sign up and onboard dealers. The second phase is to educate the dealers and their employees through free onsite and online training about the platform and the financing programs that AmeriTrust offers. The third phase involves having quality applications submitted through the RouteOne and DealerTrack financing portals, or through AmeriTrust’s proprietary portal, and complete lease or loan customer contracts.

AmeriTrust Financial has recently bolstered its sales team and has established national territories to expand its dealer network. In the past couple of months, the Company has executed 21 new dealer agreements representing 62 dealer locations across 16 states. While this expansion positions the Company for future growth, lease origination ramp-up will take time as dealers are educated and become familiar with AmeriTrust’s lease and loan financing programs.

2. AmeriTrust Auto (www.ameritrustauto.com) operates as a licensed dealer that remarkets lease-return vehicles for funding partners with the objective of maximizing asset recovery and minimizing cumulative net loss.

During February 2026, the Company started limited production of the remarketing business model. AmeriTrust Auto is now expanding its operational team and has recently hired six additional employees who are currently operating from a temporary facility in Fort Worth, Texas while the Company prepares for future expansion.

3. AmeriTrust Serves (www.ameritrustserves.com) represents the Company’s servicing infrastructure and technology platform. AmeriTrust Serves has implemented a first-of-its-kind lease servicing platform in partnership with Conduent, one of the nation’s largest application service providers for consumer loan servicing systems. The platform enables scalable loan and lease servicing, enhanced automation, and data-driven portfolio management while supporting regulatory compliance and operational flexibility across multiple states.

Further Updates

Recently, Jeff Morgan was interviewed by Auto Finance News and Automotive News. The Auto Finance News article, titled ‘Inside AmeriTrust Financial’s Used Vehicle Leasing Rollout’ reported on AmeriTrust’s launch of a technology platform that allows dealers to present side-by-side loan and lease options for used vehicles, enabling consumers to compare payment structures while the company expands its leasing program across multiple states. The Automotive News article, titled ‘Former Tesla partner AmeriTrust tackles difficult, rare business of used-vehicle leasing’ examined AmeriTrust’s effort to expand used-vehicle leasing, a segment that represents a very small share of the market, highlighting the company’s strategy and the potential role leasing could play in improving vehicle affordability.

Last week Jeff Morgan was invited to be a speaker at the National Vehicle Leasing Association (‘NVLA’) Annual Conference in Nashville, Tennessee. The panel that Jeff participated in brought together high-performing lessors who excel at expanding their in-house portfolios while strategically placing some select transactions that fall outside their credit window or operational capacity.

Jeff Morgan commented, ‘As we move further into 2026, our focus remains clear: expanding both our indirect and direct dealer network, increasing application flow, and steadily growing funded originations while maintaining disciplined credit standards. The infrastructure we have built, from funding facilities and servicing technology to dealer partnerships, provides the foundation for that growth. While we remain in the early stages of executing our strategy, the results we are seeing across the platform are encouraging.’

AmeriTrust also announces that contrary to the Company’s press release dated January 15, 2026, Dig Media Inc. does provide services defined by TSXV policy 3.4 as investor relations. In addition, since the beginning of January 2026 the Company has issued 4,125,000 Restricted Share Units to employees and consultants.

About AmeriTrust Financial Technologies Inc.

AmeriTrust Financial Technologies Inc., listed on the TSXV, OTCQB, and Frankfurt markets, is a finance solution and fintech provider disrupting the automotive industry. AmeriTrust’s integrated, cloud-based transaction platform facilitates transactions amongst consumers, dealers, and funders. AmeriTrust’s platform is being made available across the United States.

For further information, please visit the AmeriTrust website or contact:

Shibu Abraham
Chief Financial Officer and Director
E: info@ameritrust.com
P: 1-800-600-6872

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements relating to the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipate’, ‘expects’, ‘believes’ and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the description of the corporate capabilities and prospects of the Company’s operating subsidiaries, are forward looking statements that involve risks and uncertainties. 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.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, we cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as at the date of this news release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE: AmeriTrust Financial Technologies Inc.

View the original press release on ACCESS Newswire

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Silver Hammer Mining Corp. (CSE: HAMR,OTC:HAMRF) (the ‘Company’ or ‘Silver Hammer’) is pleased to announce that the Company is finalizing plans for its Phase 1 drill program on its 100% owned California Patented Claim (the ‘California Patent’), within the Eliza Silver Project (‘Eliza’) in White Pine County, Nevada.

‘We are looking forward to Phase 1 of drill-testing priority targets at the 100% owned California Patent, ahead of a Phase 2 drill program on the greater area of the Eliza Claims, which is now awaiting final approval after submitting all required documents in its permitting application with the US Forest Service. The California Claim, being patented land, allows us to perform Phase 1, without requiring exploration or drilling permits,’ commented Peter A. Ball, CEO of Silver Hammer Mining. ‘We are currently in the process of sourcing a drilling contractor to execute our exploration program, and we look forward to mobilize to site as soon as possible.’

New priority drill targets on the California Patent have been identified from historical geological data from past exploration programs including surface mapping and sampling, an extensive soil sampling program, heliborne geophysics (magnetics and radiometrics), and from historical records of old mine workings. Up to five structures appear to be mineralized with silver and/or gold, and these form the five distinct drill targets (refer to Fig. 1).

Fig. 1 – California Patent Drill Targets Map with a Compilation of Geological Structures, Rock and Soil Samples

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9597/288112_ffcef8640486490b_001full.jpg

Up to a fifteen (15) hole drill program, consisting of approximately 1,500 metres (5,000 feet), has been designed to test following targets:

  1. Drill Target #1: The California Vein dips steeply, at approximately 80O to the northeast and is proximal to the Eberhardt Fault at surface. Mineralization has been found in a set of rock samples taken in 2021 and 2022 on or in the vicinity of the California Vein and the Eberhardt Fault, with four of the eight samples showing significant silver and/or gold grades (see Table 1 – please refer to the Company’s news releases dated December 6, 2021 and May 11, 2022 for more information). Airborne magnetics (vertical gradient) and radiometrics (total count) both show low anomalies as distinctly linear features at the Eberhardt Fault/California Vein zone. Two drill pads would allow for drilling the California Vein from the south, over a distance exceeding 150 metres along strike with a set of six fanned holes.

Table 1 – Rock Samples at California Patent (Mapping and Sampling Programs, 2021-2022)

Sample
No.
Au
(g/t)
Ag
(g/t)
As
(ppm)
Cd
(ppm)
Cu
(ppm)
Mn
(ppm)
Mo
(ppm)
Pb
(ppm)
Sb
(ppm)
Zn
(ppm)
PN662702 0.01 0.524 14.6 1 2 541 2 9.05 5 10.8
PN662703 0.06 1290 33.8 14 56.8 2750 5.6 619 268 71.1
PN662704 2.00 96.1 19 12 32 1620 2.42 179 33.2 128
PN662705 0.28 26.3 10.5 1 13.6 316 2.12 39.2 11.5 21.3
PN662706 0.01 2.44 25.3 1 7.05 4610 5.15 9.1 7.88 31.6
PN662707 0.01 14.1 19.4 1 7.08 2020 2 9.9 10.1 22
PN662708 0.01 0.275 8.28 1 3.58 96.8 2 18.5 5 7.68
PN614022 0.24 150 32.2 14.8 84.5 1340 2.35 324 51.3 172

 

  1. Drill Target #2: The California Vein has been interpreted to have been cut by the Eberhardt Fault just above the current topographic surface and down-dropped and displaced southwards in the South Block of the Eberhardt Fault (refer to Fig. 2). Silver mineralization in the geochemical soil anomaly and rock sampling suggests this repetition of the California Vein daylights approximately 70 metres to the south of the surface trace of the Eberhardt Fault (and the outcropping of the California Vein in the North Block of the fault). Six fanned holes, drilled southwards from the two drill pads, are designed to test this fault-displaced portion of the California Vein.
  2. Drill Target #3: The Eberhard Fault is expected to be intersected by the set of six northwards-trending drill holes. This drill-testing is expected to provide additional information of which structure is the source of the mineralized rock and soil samples that are in proximity of both the California Vein and the Eberhardt Fault.
  3. Drill Target #4: Pilot Shale has been mapped at surface in the South Block of the normal-type Eberhardt Fault. Geological interpretation of the stratigraphy leads to an expectation of the Pilot Shale and the stratigraphically lower Nevada Limestone contact to be located approximately 60 metres below the topographic surface in the South Block of the Eberhardt Fault. This brecciated lithologic contact has been recognized as a potential trap for hydrothermal fluids during the mineralization stage. Such association of manto-style mineralization and basal brecciation at nearby Treasure Hill is described by R.M. Smith1: ‘The chloride ore bodies were localized in the uppermost strata of the gently west-dipping Guilmette (Nevada) Limestone just below the Pilot Shale, most of which is eroded from all but the Telegraph Peak portion of Treasure Hill. The limestone is brecciated by premineralization bedding faults, the most prominent of which is along its contact with the shale’. During past mining in the late 1800s, several exploratory drifts were driven in the California Mine, with a goal to reach this Pilot Shale – Nevada Limestone contact. The two vertical holes from the two drill pads are designed to explore for such potential manto-type mineralization at the lithologic contact (refer to Fig. 2).

1 R.K. Hose, M.C. Blake and R.M. Smith, Bulletin 85, Geology and Mineral resources of White Pine County, Nevada, Nevada Bureau of Mines and Geology Part II, Mineral Resources, 1976.

Fig. 2 – California Mine Section A-A’, with Drill Targets and Historic Underground Workings

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9597/288112_ffcef8640486490b_002full.jpg

  1. Drill Target #5: The broad zone of anomalous silver values follows the trend of the high rock samples as well as the trend of magnetic and radiometric anomalies. This zone measures up to 200 metres wide north-south and over 400 metres east-west. All holes are within this soil geochemical anomaly.

Mr. Ball added, ‘The intersection of high angle structures in several orientations and the potential of the low-angle shale-limestone contact at the location of a historic mine, combined with several high-grade rock samples, forms a number of exciting and compelling drill targets.’

Qualified Person

The scientific and technical aspects of this press release have been reviewed and approved under the supervision of Damir Cukor, P.Geo. Mr. Cukor is a Qualified Person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects and as a consultant for the Company as Technical Director – Projects.

About Silver Hammer Mining Corp.

Silver Hammer Mining Corp. is a well-funded junior resource company focused on advancing past- producing high-grade silver projects in the United States. Silver Hammer controls 100% of six previously producing silver mines which are located within the Silver Strand Project in the Coeur d’Alene Mining District in Idaho, USA, and within the Eliza Silver Project and the Silverton Silver Mine in Nevada. The Company also controls the Fahey Group Silver Project in the Silver Valley, Idaho. Silver Hammer’s primary focus is to explore, define and develop silver projects near past-producing mines that have not been adequately tested. The Company’s portfolio also provides exposure to copper and gold.

On Behalf of the Board of Silver Hammer Mining Corp.

Peter A. Ball
President & CEO, Director
E: peter@silverhammermining.com

For investor relations inquiries, contact:

Peter A. Ball
President & CEO
778.344.4653
E: investors@silverhammermining.com

Forward-Looking Information

This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. Forward-looking information in this press release includes, without limitation, statements relating to the Offering, the intended use of proceeds from the Offering, and other statements which are subject to a number of conditions, as described elsewhere in this news release. These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks regarding the mining industry, commodity prices, market conditions, general economic factors, management’s ability to manage and to operate the business, and explore and develop the projects of the Company, and the equity markets generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance of the Company may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assume no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288112

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Copper is the third most-used metal in the world, and experts believe demand for this important commodity is set to rise in the coming years. At the same time, the supply situation is expected to tighten up.

For that reason, market watchers may be asking, “When will copper go up?” Copper prices began to move sharply in 2025 amid tariff speculation and supply disruptions.

In July 2025, copper prices on the COMEX surged to US$5.96 per pound, as US-based traders worked to get supply into the country ahead of the implementation of tariffs. However, the price plummeted back toward US$4 per pound after it was revealed that tariffs would not be applied to refined copper products.

As the third quarter ended, a near-total shutdown at Freeport-McMoRan (NYSE:FCX) Grasberg mine in Indonesia further tightened copper supply that was already stressed due to a similar incident earlier in the year at Ivanhoe’s Kamoa-Kakula mine in the Democratic Republic of the Congo.

The price rose through the last quarter of 2025 and into 2026 when the price had climbed to new record highs of US$6.61 per pound on COMEX and US$13,842.50 on the London Metal Exchange on January 29.

“Grasberg remains a significant disruption that will persist through 2026, and the situation is similar to constraints at Ivanhoe Mines’ Kamoa-Kakula, which experienced output cuts this year,’ Jacob White of Sprott Asset Management said via email, adding, ‘We believe these outages will keep the market in deficit in 2026.’

Copper prices moving to record highs is a result of the latest shift toward structural deficits in the supply and demand for the red metal. In 2021, market imbalances pushed prices to a then all-time high of US$10,724.50 per metric ton, which was later broken in March 2022 when it hit US$10,730.

Copper price chart, Q1 2003 to Q4 2025.

Chart from International Monetary Fund via FRED.

Copper had pulled back to about US$8,000 by mid-August 2022 on growing fears of a global recession. In early 2023, prices mounted a campaign to breach the US$9,300 level, once again giving market watchers a reason to believe highs for the metal would soon to be retested.

However, that reason soon faded as rising interest rates dampened the outlook for copper-dependent industries globally. China’s ongoing real estate crisis also hit copper demand hard in 2023. With the demand picture unclear, copper couldn’t hold above the US$9,000 level, and slid to US$7,910 as of early October 2023.

However, copper managed to close the year around the US$8,500 mark and hold around those levels in Q1. The closure of First Quantum Minerals’ (TSX:FM,OTCPL:FQVLF) Cobre Panama copper mine in late 2023 and Anglo American’s (LSE:AAL,OTCQX:NGLOY) revised 2024 copper production target were significant factors behind copper’s price momentum, as were production curbs out of top Chinese copper smelters are also helping to support prices.

The copper price began climbing in earnest in Q2 on building anticipation that the Federal Reserve may soon launch its rate cut cycle alongside a worsening supply side picture. On May 20, 2024, the price of copper reached its then highest recorded price of US$5.20 per pound, or US$11,464 per metric ton.

However, the price of the base metal moved back under US$10,000 by the end of the month, and remained largely rangebound through the rest of the year.

In 2025, copper tariff fears and supply disruptions pushed the price of copper upwards, and it reached record highs of US$13,842.50 on the LME in late January 2026.

Copper prices pulled back to below US$13,000 in the days that followed, and as low as US$12,560 by mid-month.

However, demand sectors for the red metal may face fresh uncertainty in 2026 after the Supreme Court of the United States found Trump’s “Liberation Day” tariffs unconstitutional.

Although the ruling won’t affect copper tariffs directly, it may cause some economic chaos as countries that worked out deals reconsider their agreements. Following the ruling, Trump imposed new 10 percent tariffs on February 20, then raised them to 15 percent the next day. The new levies will only be in effect for 150 days, after which they will need to be ratified by Congress.

The copper price climbed above US$13,200 during trading in the days that followed.

Despite short-term uncertainty, is long-term optimism for copper still warranted? Let’s look at the current supply and demand factors that could push copper prices higher.

Green energy in driver’s seat for copper demand

Copper’s many useful properties have translated into demand from diverse industries in both traditional and emerging sectors.

In its January 2026 “Copper in the Age of AI” study, S&P Global Energy and Market Intelligence outlined key areas for copper demand and growth. Central to everything is the role copper plays in electrification due to a conductivity rating that’s second only to silver.

Traditional demand sectors such as construction, electronic appliances and internal combustion engine vehicles have long been the main drivers for core copper demand. According to the report, 18 million metric tons of copper were required to meet this core economic demand in 2025, and the analysts forecast that number to rise to 23 million by 2040.

Growth in core demand is expected to be driven by a combination of urbanization and rising incomes in the developing world. Every new power source, every new home and every new air conditioner is connected to the grid in some way.

Overall, China is the world’s largest copper consumer, due in large part to its construction and real estate sectors. However, growth there has slowed in recent years as its property sector has stalled following the collapse of several large developers. The government has responded with a series of measures to try to stimulate the sector, but has yet to right the ship.

At the end of 2025, China released its 14th Five-Year Plan, which the country will implement from 2026 to 2031. The plan has measures aimed at the real estate sector including affordable housing, the rental market and urban renewal. While it remains to be seen if these will be successful, any turnaround in China’s real estate sector could have a considerable impact on copper demand.

Although aluminum is being substituted in some use cases due to high copper prices, there are technical hurdles such as the need for systems to be redesigned and aluminum’s lower conductivity.

In addition to traditional growth, demand is being driven by the energy transition, including energy additions in developing nations, clean energy technologies and electric vehicles.

As a base case, S&P expects global electricity demand to increase 50 percent by 2040, with the United States’ demand growing by 2.5 percent annually, China’s by 3.2 percent and India’s by 4.2 percent.

This demand growth will require the energy equivalent of building 330 new hydroelectric dams the size of Nevada’s Hoover Dam or 650 1 gigawatt nuclear reactors each year between now and then.

In 2025, solar and wind combined for more than 90 percent of new electrical capacity installed worldwide. These methods require substantial quantities of copper to build out, as do the batteries used to store the energy needed to ensure 24 hour delivery.

Additionally, expanding access to commercial energy in developing nations will also require significant copper for infrastructure, energy transmission and more. S&P notes that Africa is home to nearly 20 percent of the world’s population, but its electricity needs are underserved. Copper will play an essential role in moving electricity across the continent.

Downstream from generation, there is an increasing demand for EVs, which have significantly higher copper loadings than their gas-powered counterparts. In 2025, global EV sales grew by 20 percent to 20.7 million, and although the pace is likely to slow, overall demand is expected to continue to grow in the coming years.

The AI sector is another emerging demand sector for copper, as it requires vast amounts of the red metal to deliver the energy to power data centers and manufacture the hardware that its operations run on.

The S&P noted that half of the US gross domestic product (GDP) growth in 2025 was owed to AI. This includes processors, data centers, and electrical capacity. The study also stated that AI power requirements alone will rise from 5 percent of total US electrical demand in 2025 to 14 percent by 2030, before demand from industrial, commercial, creative and personal applications are accounted for.

Factoring in demand from these industries and the defense sector raises 2025’s copper requirements from 18 million to 28 million metric tons, according to S&P. As these sectors grow, total copper demand is expected to hit 42 million metric tons by 2040.

Companies struggling to keep copper supply coming

Of course, demand is just one side of the story for copper prices. For more than a decade, the world’s largest copper mines have struggled with steadily declining copper grades and a lack of new copper discoveries.

However, the challenge is that without new mining operations, total mined copper supply is set to rise from 23 million metric tons today to a peak of 27 million in 2030, but decline to 22 million metric tons in 2040.

Although recycled copper is expected to add an additional 10 million metric tons of supply in 2040, this still leaves a supply deficit of 10 million metric tons.

Declining grades at existing mines are just part of the problem facing the supply side of the equation. Since the end of the last commodity super cycle in 2011, exploration budgets have cratered from US$6.6 billion in 2012 to US$3.3 billion in 2025, and nearly half of that is spent on existing mine sites.

According to S&P, the number of new discoveries and quantity of resources has also fallen. Between 1985 and 2000, 636 million metric tons of copper resources were discovered; this fell to 389 million metric tons between 2000 and 2010, and further to 120 million metric tons between 2010 and 2020.

The general consensus is that the easy-to-access deposits have been found, leaving harder to access ore bodies that require longer permitting times and higher capital costs.

Speaking about copper at the Vancouver Resources Investment Conference (VRIC) in January 2026, Founder of Rule Investment Media, Rick Rule, said, “There’s still more to be found, but it’s going to be found undercover. Let’s just say they’re pretty far off the highway. When we start spending money, we will find copper, but we haven’t started to spend money.”

Rule went on to explain that there are challenges beyond just the money, noting jurisdictional and permitting issues. He cited the example of Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and BHP’s (ASX:BHP,NYSE:BHP,LSE:BHP) Resolution Copper in Arizona, which has been stuck in permitting for 28 years.

Delays and lack of exploration are critical factors hindering copper supply growth. On top of this, over the last several years there have also been unforeseen events that have taken supply off the market.

These have included sociopolitical unrest and protests directed at the mining sector in Peru in 2022, the closure of First Quantum’s Cobre Panama in 2023, and, most recently, accidents at two of the world’s largest copper mines in 2025, Ivanhoe Mines’ (TSX:IVN,OTCQX:IVPAF) Kamoa-Kakula in the Democratic Republic of the Congo and Freeport McMoRan’s Grasberg in Indonesia.

Even though these types of events can’t be predicted, any supply disruptions will have an outsized impact as the supply gap widens.

“Really, last year the market was close to equilibrium, but all the charts going forward were this widening supply gap. We’re there now. And last year we had so many major disruptions that it was nowhere near equilibrium,’ Independent Speculator CEO Lobo Tiggre said at VRIC.

Bull market for copper or bust?

So, when will copper go up? Together, strong demand and tight supply have already created the right market environment for higher prices, though market watchers like Rule and Tiggre still see more upside potential.

Copper’s strong rally in recent years has encouraged the idea that even higher copper prices are ahead, which could be a golden opportunity for junior copper companies in the long-term.

With deficits expected to increase over the coming years, analysts are setting new target prices for LME copper. The Bank of America (NYSE:BAC) raised its expectations to an average US$11,313 per metric ton in 2026, and US$13,501 in 2027. Meanwhile, Citigroup (NYSE:C) is even more bullish, predicting copper prices could climb as high as US$15,000 per metric ton as early as the second quarter of 2026.

A widening supply gap should provide significant tailwinds in the coming years, potentially sending prices even higher.

“Copper has done fairly well, but for most of the year, copper seemed really strangely muted in terms of price increase, and make no mistake, a supply shortfall is absolutely inevitable in copper,” Rule said.

Price increases should also stimulate capital inflows into the industry, which Rule noted would need US$250 billion over the next 10 years to maintain the current level of production. To grow beyond that would require a much larger investment.

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

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CSE: NINE,OTC:VMSXF) (OTC Pink: VMSXF) (FSE: KQ9) (the ‘Company’ or ‘Nine Mile’) announces that it has proceeded with its third anniversary payment under its option to Purchase 100% of the Wedge Project, dated February 9, 2023, (the ‘Option Agreement’) with Slam Exploration Ltd. (‘Slam’).

The company has approved and paid the required Cash Payment of $40,000 and authorized and issued the allotment of 300,000 common shares as part of the Option Agreement. The Option Agreement has one remaining payment anniversary on February 2027 requiring a Cash Payment of $50,000 and issuing 400,000 common shares and then Nine Mile will have completed the 100% Purchase of the Wedge Project from Slam. The common shares are subject to a hold period under applicable Canadian Securities laws expiring four months and one day from the issuance of the shares.

The Wedge VMS Project consists of 35.83 km2 and hosts the Wedge Mine, West Wedge, Tribag Targets within the 8km Wedge VMS Exploration Trend. (See Figure #1 Below)

Figure 1: Priority Targets with Late Time Conductive Axis’ along the Wedge VMS Trend

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7335/288134_55583d46a46edbf8_002full.jpg

Nine Mile just completed its Fall 2025 Wedge Mine Phase 2 Drill Program and is releasing Certified Drill Results as received. The goal at the Wedge Mine is to demonstrate and prove the Mine has an economic future and the deposit is much larger and higher grade than previously determined. Nine Mile is well on the way to that goal.

Gary Lohman, P.Geo, VP Exploration & Director, stated, ‘This completes a crucial stage in the completing of the Purchase Agreement with Slam Exploration. Our advancement of the entire project including the Wedge Mine, West Wedge & Tribag High Priority VMS Targets is an example of our technical and financial commitment to this Priority Project for Nine Mile Metals and our shareholders. Assay results reported to date further demonstrate the hidden quality of the Wedge and we look forward to expanding on our recent success at the Wedge and the inaugural Drill Program along trend at the West Wedge and Tribag.’

Figure 2: Upcoming 2026 Drill Program Targets at West Wedge and Tribag Zones

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7335/288134_55583d46a46edbf8_003full.jpg

Patrick J Cruickshank, MBA, CEO & Director, stated, ‘The Wedge Mine and clustering targets on Trend, have quickly become, and rightly so, a priority project for us at Nine Mile. The continued success in our Wedge Mine Drill Programs clearly displays the high-grade copper ore remaining in the deposit. In 2024, drilling extended the deposit to the east and our recent drilling shows the deposit has high grade copper mineralization at depth and to the southwest. We are defining the next phase of drilling at the Wedge and the west extension. Once we complete the BHEM surveys and Mike Defrusne, President at Apex Geoscience, leading our Technical Team, integrates these new holes into our live 3D model, we will announce our Phase 3 Drill Program at the Wedge Mine, unlocking the value and test the overall size and scale of this high-grade deposit. We are excited to also launch our 2026 Drill Program at the West Wedge & Tribag sites and test those prospective VMS zones. 2026 will be a very busy exploration year.’

Nine Mile Metals also announces that it has entered into an agreement (the ‘Agreement’) with Generation IACP Inc. (‘Generation’) to provide market making and issuer services in accordance with Canadian Securities Exchange (CSE) policies. Under the terms of the Agreement, Generation will trade shares of the Company on the CSE and other trading venues with the objective of maintaining a reasonable market and improving the liquidity of Nine Mile’s common shares. Generation IACP will also provide analytical data services on the stock trading patterns, CDS activity mapping security transfers and all aspects of issuer trading reporting, including shorts monitoring, institutional, retail, anonymous trades and market sentiment analysis.

The Agreement is for an initial term of six months and shall be automatically renewed for successive six-month periods unless terminated by either party with 30 days prior written notice. Pursuant to the Agreement, Generation will receive a monthly fee of $8,500 Cdn, plus applicable taxes during the initial term. Thereafter, the monthly fee will automatically increase annually by 3% on each anniversary of the Agreement. No stock options or other compensation are being granted in connection with the engagement.

Generation is arm’s length to the Company and does not own any securities of Nine Mile as of the date of this release; however, Generation and its clients may acquire an interest in the securities of the Company in the future.

Generation’s market making and issuer service activities will be primarily intended to correct temporary imbalances in the supply and demand of the Company’s shares. Generation will be responsible for the costs it incurs in buying and selling the Company’s shares, and no third party will be providing funds or securities for the market making activities.

‘We have seen extremely strong trading volume and interest in Nine Mile Metal’s story from strategic, institutional, and retail investors. We traded over 90M shares through December and January 2026 and continue to have strong daily trading. We would like to monitor the trading behaviors, patterns and understand our trading base across all platforms. The relationship with Generation IACP complements our capital markets strategy and supports our focus on accessibility, transparency, and long-term shareholder alignment,’ commented Jonathan Holmes, Director.

About Generation IACP Inc.

Generation IACP is based in Toronto, Ontario, and is an independently held and registered broker and member of the Investment Industry Regulatory Organization of Canada, the TSX-V, the Canadian Securities Exchange, and the NEO Exchange.

The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’) and reviewed and approved by Gary Lohman, B.Sc., P.Geo., VP Exploration and Director who acts as the Company’s Qualified Person, and is not independent of the Company.

About Nine Mile Metals Ltd.:

Nine Mile Metals Ltd. is a Canadian public mineral exploration Company focused on VMS (Cu, Pb, Zn, Ag and Au) exploration in the renowned Bathurst Mining Camp (BMC), located in New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East – West) VMS Project, and the Wedge VMS Project. The Company is focused on Critical Minerals Exploration, positioning itself for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge on Gold.

ON BEHALF OF Nine Mile Metals LTD.

‘Patrick J. Cruickshank, MBA’
CEO and Director
T: 506-804-6117
E: patrick@ninemilemetals.com

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as ‘will,’ ‘may,’ ‘would,’ ‘expect,’ ‘intend,’ ‘plan,’ ‘seek,’ ‘anticipate,’ ‘believe,’ ‘estimate,’ ‘predict,’ ‘potential,’ ‘continue,’ ‘likely,’ ‘could’ and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) we will announce complete Certified assay results once received from ALS and Glencore. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

___________________________________________________________________________________________________
The Canadian Venture Building, 82 Richmond St E., Toronto, Ontario Canada M5C 1P1

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288134

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Josef Schachter, president and author at the Schachter Energy Report, shares his outlook for oil prices and stocks as the Iran war continues.

‘The key thing is how long does it last and what is the reason that they want the war,’ he said.

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

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Canada is a premier destination for mineral exploration and mining, but the nation’s exploration-stage companies are still struggling to attract investment dollars.

The country’s appeal is showcased in the Fraser Institute’s most recent Annual Survey of Mining Companies, which tracks the investment attractiveness of global mining jurisdictions. It places the Canadian provinces of Ontario and Saskatchewan among the world’s top mining jurisdictions, behind only Nevada.

The Canadian mining industry “serves as a proxy for the global (mining) industry” as it is home to “the largest concentration of public mineral companies in the world,” with Toronto at “the center of the mining finance universe,” said Douglas Silver, partner and senior advisor at Benwerrin Investment Partners, during his presentation at this year’s Prospectors & Developers Association of Canada (PDAC) convention, held last week.

Jeff Killeen, director of policy and programs for PDAC, shared similar sentiments in his own presentation, telling conference attendees, “Almost 30 percent of every dollar raised somewhere in the world for the (mining) sector comes through the Canadian marketplace: the TSX, the Venture and the CSE.”

Canada’s unique tax incentives crucial for mining investment

Canada owes its leading position in the global mining industry to its large landmass and abundance of natural resources. However, both Silver and Killeen pointed out that the nation’s flow-through share tax incentive — unique to Canada — is also “incredibly critical” to the success of the natioin’s mining sector.

Flow-through shares are a highly specialized financing tool that allow resource companies to transfer eligible exploration and development expenses to investors, who then deduct them from their own taxable income.

Under the Mineral Exploration Tax Credit (METC), funds generated from this type of capital raise must be put into a project within 18 months. There’s also the Critical Mineral Exploration Tax Credit (CMETC), which applies to critical minerals used for batteries and magnets, including rare earths, nickel, uranium, lithium and graphite, among others.

Generational shift shrinking pool of mining investors

Although Canada dominates the global mining finance sector and is teeming with multiple types of mineral deposits, it’s becoming increasingly difficult for the nation’s exploration-stage companies to attract investment dollars.

The tight financial landscape for today’s explorers stems in part from both a complex regulatory system that limits the areas open to mining activity, and a lack of proper infrastructure in the more remote regions of the country. Both of these shortcomings strike at the heart of perceived jurisdictional risk for both retail and institutional investors.

During his presentation, Killeen highlighted a few of the key financing trends affecting access to capital in the mineral industry, noting that last year saw a dramatic uptick in investment in the mining sector.

Where is capital originating from? Most of it was equity raised through private placements, which poses a problem as it represents a very narrow investor base that consists of friends and family of the management team and strategic investors that probably already own shares in the company.

“That just tells us that we’re not broadening the investor base. We’re not pulling in more investors. There’s no more new retail folks coming in investing in shares in Canada. This tells us that we’re in a very risky balance in terms of who actually can fund the sector through the next generation,” he warned the PDAC audience.

“There is a lesser population of retail investors as time goes on. You know that the Boomer generation is going away in terms of an investment pool, and the next generation isn’t necessarily replicating that.”

Silver also views the generational shift in the investment landscape as a problem for raising money in the mining industry. “There’s no question from what I’ve read and heard that the younger generations don’t pick individual stocks. They tend to lean towards ETFs or crypto or other stuff,” he said. “Crypto is definitely competing with mining.”

Gold grabbing all the dollars

Canada’s minerals industry did experience a strong rebound in terms of equity investment in 2025, but it was heavily targeted at producers and developers with large-scale, near-production projects. Gold dominated, but investment also increased in projects associated with critical minerals like lithium, nickel, copper and graphite.

“How much is going to the bottom end, to those sub-$100 million market cap companies, the lion’s share of the junior explorers that are out there? Well, in the Canadian marketplace, only about 10 percent of every dollar raised is getting down to those size of companies,” explained Killeen, highlighting the discrepancy.

In his view, the lack of investment over the past decade is bringing about a decline in grassroots exploration.

Gold is grabbing many mineral investment dollars, not only because its price is surging to unprecedented highs, but also because there’s a faster return on investment compared to other metals. Killeen said that’s due to the fact that gold mining doesn’t require large amounts of infrastructure such as railways and ports.

“In some cases, you don’t need roads. The capital to develop a gold mine might be one-sixth of, one-10th of or one-20th of a copper mine or a zinc mine,” he commented. “So the rate of return for the average investor who’s looking at an exploration stock saying, ‘Could I get money back into this? Could I get value back into this?’ Today that timeframe is much shorter, and the capital to bring it to market is much lower.”

Looking at copper, which is much more capital intensive, Killeen said production is down nearly 30 percent from seven or eight years ago. Reserves are also down, even though rising copper prices have resulted in more resources being upgraded to reserves. Silver agreed with that take — his research shows that the Canadian mining industry is overflowing with gold companies. Of the 1,555 mining companies in Canada in 2024, 42 percent of them were gold-focused firms compared to only 17 percent for copper, the second highest amount.

“So why do we have so many gold companies? I think the answer is pretty obvious to me, which is if you want to build a porphyry copper mine, you’ve got to go raise $5 (billion) or $10 billion,” said Silver. “That’s very difficult in the mining industry, because we just don’t have that much gross capital available to us relative to what some of the other industries have … but you can build a gold mine for a couple hundred million (dollars).’

Despite the massive focus on gold, Killeen and Silver both noted that Canada is actually seeing increasing exploration activity for rare earths, lithium, cobalt, graphite and uranium.

Improving the investment case for Canada’s juniors

Killeen said PDAC and its members are pushing for the Canadian government to make the METC and CMETC permanent to bring more investment into mineral exploration in greenfield regions and making new discoveries.

Last year, flow-through shares generated C$1.6 billion in investment into the sector, according to Silver’s research, or about 76 percent of funding received by mineral exploration companies in Canada.

“When you look at the role of Canadian flow through, it’s so incredibly critical to Canadian mining,” he said. Silver too is advocating for the mining industry and investors to “fight for flow through way more than you do.’

To address infrastructure challenges for bringing critical metals projects into production sooner for a quicker return on investment, Killeen suggested more pension funds investing in Canada and easing government regulations.

“We need them cooperating together with the federal government to develop major infrastructure that doesn’t exist beyond 100 kilometers from the border,” he said.

Killeen noted that “the world is changing” and governments, including Canada’s, are becoming more focused on securing domestic sources of critical minerals. For example, at PDAC, Tim Hodgson, Canada’s minister of energy and natural resources, announced a C$3.6 billion suite of investments targeting the critical minerals sector.

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

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David Erfle, editor and founder of Junior Miner Junky, explains why gold and silver prices took a hit not long after war in the Middle East was announced.

While the near term could be volatile, he said the long-term outlook for precious metals is strong.

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

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John Feneck, portfolio manager and consultant at Feneck Consulting, explains why he expects gold and silver prices to retest January’s highs, noting that he sees investors beginning to rotate away from the tech sector and toward commodities.

‘This sector is on fire, this sector will continue to rally.’

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

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Tavi Costa, CEO of Azuria Capital, explains where he’s looking to deploy capital right now, mentioning mining, energy and emerging markets.

‘When I apply macro analysis into markets, there’s a few things that look exceptionally cheap today that could be extremely asymmetric,’ he commented.

‘Again, I could be wrong in three of them, but if I get one right it’s going to go up.’

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

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