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Deep Space Energy Secures US$1.1 Million to Advance Lunar Power and Satellite Resilience Goals

Investing 3 Mins Read

Latvian startup Deep Space Energy announced it has raised approximately US$1.1 million in a combination of private investment and public funding to advance a radioisotope-based power generator designed to operate on the Moon.

The company closed a US$416,500 pre-seed round led by Outlast Fund and angel investor Linas Sargautis, a former co-founder of NanoAvionics. It also secured an additional US$690,200 in public contracts and grants from the European Space Agency (ESA), NATO’s Defense Innovation Accelerator for the North Atlantic (DIANA), and the Latvian government.

Deep Space Energy is building a compact power system that uses radioisotopes, which are materials derived from nuclear waste that generate heat through natural decay, to produce electricity.

Founder and CEO Mihails Ščepanskis said the system converts that heat into electrical power while using significantly less fuel than conventional radioisotope thermoelectric generators (RTGs) currently deployed in space.

“Our technology, which has already been validated in the laboratory, has several applications across the defense and space sectors.

“First, we’re developing an auxiliary energy source to enhance the resilience of strategic satellites. It provides the redundancy of satellite power systems by supplying backup power that does not depend on solar energy, making it crucial for high-value military reconnaissance assets,” Ščepanskis said.

The company emphasized that the generator is not designed for weapons applications. Instead, it is targeting dual-use satellites operating in Medium Earth Orbit (MEO), Geostationary Orbit (GEO) and Highly Elliptical Orbit (HEO), all of which focus on communications, early warning systems, and reconnaissance capabilities.

These satellites support defense functions including synthetic aperture radar for detecting troop movements, signal intelligence systems, and missile-launch detection platforms.

According to Ščepanskis, recent geopolitical events have underscored their importance.

The war in Ukraine demonstrated the decisive role of satellite-based reconnaissance data. In 2025, Ukraine lost its beachhead in Russia’s Kursk Oblast during a period when the US temporarily halted the sharing of satellite intelligence.

“As Europe is trying to become more independent, it is imperative to produce satellites with advanced capabilities on our own. Our technology provides an auxiliary energy source for satellites, which makes them more resilient to non-kinetic attacks and malfunctions,” he added.

Beyond defense, Deep Space Energy is positioning its technology for lunar exploration. The company says its generator could support upcoming programmes such as NASA and ESA’s Artemis and Argonaut initiatives, as well as future lunar rover missions and the Moon Village framework.

On the Moon, temperatures can fall below minus 150 degrees Celsius during night cycles that last roughly 354 hours, making solar power unreliable.

Deep Space Energy estimates that about two kilograms of Americium-241 could generate 50 watts of power for a rover, compared with around 10 kilograms required by legacy RTG systems for similar output.

By reducing fuel requirements, the company argues it could extend rover lifetimes across multiple lunar day-night cycles, potentially lasting years.

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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Business

Retail operator of outdoor sportswear pioneer Eddie Bauer files for bankruptcy

Business 5 Mins Read

The operator of roughly 180 Eddie Bauer stores across the U.S. and Canada has filed for Chapter 11 bankruptcy protection, blaming declining sales and a litany of other industry headwinds.

The bankruptcy filing marks the third time in a little over two decades for the storied-but-now-tired brand that began as a Seattle fishing shop, later outfitted the first American to climb Mount Everest and made thousands of newfangled down jackets and sleeping bags for the military during World War II.

Eddie Bauer LLC said Monday it had entered into a restructuring pact with its secured lenders as it made the filing in the U.S. Bankruptcy Court for the District of New Jersey.

Most Eddie Bauer retail and outlet stores in the U.S. and Canada will remain open as the company winds down certain locations. It noted that it will conduct a court-supervised sales process, and if a sale can’t be executed, it will begin a wind-down of its U.S. and Canadian operations.

“This is not an easy decision,” said Marc Rosen, CEO of Catalyst Brands, which maintains the license to operate Eddie Bauer stores in the U.S. and Canada. “However, this restructuring is the best way to optimize value for the retail company’s stakeholders and also ensure Catalyst Brands remains profitable and with strong liquidity and cash flow.”

Eddie Bauer’s stores outside of the U.S. and Canada are operated by other licensees, are not included in the Chapter 11 filings, and will stay open, according to the release.

Authentic Brands Group continues to own the intellectual property associated with the Eddie Bauer brand and may license the brand to other operators, the company said. The operations of other brands in the Catalyst Brands portfolio are not affected by this filing and will continue in the normal course, according to the company.

Eddie Bauer’s e-commerce and wholesale operations will also not be impacted by the wind down, as they are operated by a company called Outdoor 5, LLC. That was a transition it made in January and became effective Feb. 2.

Eddie Bauer joins a growing list of U.S. retailers this year that are closing stores, as companies reorganize under bankruptcy protection or pare down their operations to focus on the most profitable businesses.

The parent company of Saks Fifth Avenue said last month that it was seeking bankruptcy protection, buffeted by rising competition and the massive debt it took on to buy its rival in the luxury sector, Neiman Marcus, just over a year ago. A few days later, the parent company said it was closing most of its Saks Off 5th stores.

Amazon said earlier this month that it was closing almost all of its Amazon Go and Amazon Fresh locations within days as it narrows its focus on food delivery and its grocery chain, Whole Foods Market.

Eddie Bauer’s namesake founder — an avid outdoorsman — started the company in Seattle in 1920 as Bauer’s Sports Shop, according to the brand’s website. In 1945, after making more than 50,000 jackets for the military, it launched a mail-order catalog.

“Bauer’s Sports Shop was not just a place where people purchased clothing and gear, it was a community hub where folks gathered to share their wisdom, learn, and talk about their experiences in the outdoors,” the website says.

The company created an American goose-down insulated jacket, known as the “Skyliner,” in 1936, and it became the company’s first patented jacket. It also outfitted the first American to climb Mount Everest — James W. Whittaker — with an Eddie Bauer parka in 1963.

After Bauer retired in 1968 and sold the business to his partner, the outdoor brand shifted more toward casual apparel and was bought by General Mills Inc. in 1971 and then by Spiegel Inc. in 1988. After Spiegel filed for bankruptcy in 2003 and most of its assets were sold, the remainder of the company was reorganized in 2005 as Eddie Bauer Holdings Inc.

In June 2009, Eddie Bauer filed bankruptcy and was acquired by Golden State Capital, the following month. In 2021, it was acquired by Authentic Brands and SPARC Group LLC.

A year ago, Catalyst was formed by the merger of SPARC and JCPenney, which Simon Property Group and fellow mall landlord Brookfield bought out of bankruptcy.

Rosen noted that even prior to the inception of Catalyst Brands last year, Eddie Bauer was in a “challenged situation.”

“Over the past year, these challenges have been exacerbated by various headwinds, including increased costs of doing business due to inflation, ongoing tariff uncertainty, and other factors,” he said.

He noted that while Catalyst’s leadership was able to make improvements in product development and marketing, those changes could not be implemented fast enough to fully address the problems created over several years.

Eddie Bauer had nearly 600 stores at its peak in 2001, according to CoStar Group Inc., a commercial real estate data firm.

In a note published earlier this month, Neil Saunders, managing director of GlobalData Retail, wrote that while the Eddie Bauer name is “well known,” the brand hasn’t kept pace with rivals like Swedish outdoor brand Fjallraven and Canadian label Arc’teryx. He also cited issues with quality deteriorating, which, for an outdoor brand measured by the performance of its products, is very problematic.

“And for many younger shoppers, the brand is seen as somewhat old-fashioned and a bit irrelevant,” he said.

This post appeared first on NBC NEWS

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Investing

Western Copper and Gold Announces C$50 Million Bought Deal Financing

Investing 6 Mins Read

western copper and gold corporation (TSX: WRN) (NYSE: WRN) (the ‘Company’) is pleased to announce it has entered into an agreement with Stifel Canada, on its own behalf and on behalf of a syndicate of underwriters (the ‘Underwriters’), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 12,048,400 common shares of the Company (the ‘Common Shares’) at a price of C$4.15 per Common Share (the ‘Offering Price’) for gross proceeds to the Company of approximately C$50,000,860 (the ‘Offering’).

The Company has granted the Underwriters an option, exercisable, in whole or in part, at any time until and including 30 days following the closing of the Offering, to purchase up to an additional 1,807,260 Common Shares of the Offering. If this option is exercised in full, an additional C$7,500,129 in gross proceeds will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be approximately C$57,500,989.

The Company plans to use the net proceeds from the Offering to advance permitting and engineering activity at the Company’s Casino Project in the Yukon, and for general corporate and working capital purposes.

The Offering will be made by way of a short form prospectus (together with any amendments thereto, the ‘Prospectus‘) filed in all of the provinces of Canada, except Québec, and in the United States pursuant to a prospectus filed as part of a registration statement on Form F-10 (together with any amendments thereto, the ‘Registration Statement‘) under the Canada/U.S. multi-jurisdictional disclosure system. The Prospectus and the Registration Statement are subject to completion and amendment. Such documents contain important information about the Offering. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

The Registration Statement relating to the Common Shares has been filed with the United States Securities and Exchange Commission but has not yet become effective. The Common Shares to be sold pursuant to the Offering described in this news release may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. Before readers invest, they should read the Prospectus in the Registration Statement and other documents the Company has filed with Canadian regulatory authorities and the United States Securities and Exchange Commission for more complete information about the Company and the Offering. The Prospectus is available on SEDAR+ at www.sedarplus.ca. The Registration Statement is available on EDGAR at www.sec.gov. Alternatively, the Prospectus and the Registration Statement may be obtained, for free upon request, from Stifel Canada at 161 Bay Street, Suite 3800, Toronto, Ontario, Canada M5J 2S1 or by email at syndprospectus@stifel.com.

The Offering is scheduled to close on or about February 26, 2026, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the NYSE American and the applicable securities regulatory authorities.

About western copper and gold corporation

western copper and gold corporation is advancing the Casino Project, Canada’s premier copper-gold mine in the Yukon and one of the most economic greenfield copper-gold mining projects in the world. The Company is committed to working collaboratively with First Nations and local communities to progress the Casino Project, using internationally recognized responsible mining technologies and practices.

On behalf of the board,

‘Sandeep Singh’

Sandeep Singh
Chief Executive Officer
western copper and gold corporation

For more information, please contact:

Cameron Magee
Director, Investor Relations & Corporate Development
western copper and gold corporation
437-219-5576 or cmagee@westerncopperandgold.com

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain forward-looking statements concerning the timing and completion of the Offering, the gross proceeds of the Offering and the use of proceeds from the Offering, the over-allotment option to be granted to the Underwriters, the necessary regulatory approvals required for the Offering being received and the expected closing date of the Offering. Statements that are not historical fact are ‘forward-looking statements’ as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and other U.S. securities law and ‘forward-looking information’ as that term is defined in National Instrument 51-102 (‘NI 51-102’) of the Canadian Securities Administrators (collectively, ‘forward-looking statements’). 

Forward-looking statements are frequently, but not always, identified by words such as ‘expects’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘potential’, ‘possible’ and similar expressions, or statements that events, conditions or results ‘will’, ‘may’, ‘could’ or ‘should’ occur or be achieved. The material factors or assumptions used to develop forward-looking statements include, but are not limited to, the assumptions that all regulatory approvals of the Offering will be obtained in a timely manner; all conditions precedent to completion of the Offering will be satisfied in a timely manner; and that market or business conditions will not change in a materially adverse manner. Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of the Company and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties related to raising sufficient capital in a timely manner and on acceptable terms; and other risks and uncertainties disclosed in the Company’s AIF and Form 40-F, including those under the heading ‘Risk Factors’ and other information released by the Company and filed with the applicable regulatory agencies. 

The Company’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and  the Company does not assume, and expressly disclaims, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

View original content:https://www.prnewswire.com/news-releases/western-copper-and-gold-announces-c50-million-bought-deal-financing-302685689.html

SOURCE western copper and gold corporation

View original content: http://www.newswire.ca/en/releases/archive/February2026/11/c0278.html

News Provided by Canada Newswire via QuoteMedia

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Investing

Valeura Energy

Investing 6 Mins Read

Investor Insight

Valeura Energy offers investors exposure to a debt-free, cash-generating Southeast Asia oil producer with growing reserves, visible production growth and multiple near- and medium-term catalysts to unlock value.

Overview

Valeura Energy (TSX:VLE,OTCQX:VLERF) is an oil and gas company focused on the development and operation of shallow-water offshore assets in the Gulf of Thailand. The company is listed on the Toronto Stock Exchange and is headquartered in Singapore, reflecting its strategic focus on the Asia-Pacific region. Valeura currently operates four producing oil fields – Nong Yao, Jasmine, Wassana and Manora – and has established itself as a low-cost, reliable operator in a mature basin with extensive existing infrastructure.

Valeura’s strategy is centred on generating strong free cash flow from its existing production base while extending asset life through continuous drilling, facility upgrades and near-field exploration. This organic growth is complemented by a disciplined acquisition strategy, positioning Valeura as a potential consolidator in a region where competition for assets is limited. The company is led by an internationally experienced management team with deep operational and transactional expertise in Asia, supported by award-winning safety, environmental and operational performance.

Company Highlights

  • Second-largest oil producer in Thailand, operating four shallow-water offshore fields in the Gulf of Thailand
  • Strong financial position, with US$306 million in cash and no debt as of December 31, 2025
  • Growing reserves and extended field lives, with 57.6 mmbbl of 2P reserves and a multi-year history of approximately 200 percent reserves replacement per year
  • Highly cash-generative business, generating US$158 million in free cash flow over the last twelve months to September 30, 2025
  • Growth-oriented strategy, combining disciplined organic investment with accretive M&A opportunities in the Asia-Pacific region

Key Projects

Core Thailand Producing Portfolio (Operated)

Valeura’s primary focus is its operated portfolio of shallow-water offshore oil fields in the Gulf of Thailand, which form the foundation of its cash flow, reserves growth and near-term value creation. The company currently operates four producing fields – Nong Yao, Jasmine, Wassana and Manora – all located in a mature basin with extensive infrastructure and a long history of reserve replacement through continued development.

Nong Yao (90 percent working interest) is Valeura’s largest and most profitable asset, and the company’s top operational priority. Following an expansion in 2024 which saw the installation of a third production facility and successful drilling thereafter, Nong Yao has become Valeura’s largest producing field, delivering approximately 10.6 mbbls/d in Q3 2025. Ongoing appraisal, seismic interpretation and infrastructure-led exploration support further production and reserves upside.

Jasmine (100 percent working interest) and Manora (70 percent working interest) are mid-life fields that continue to exceed expectations through targeted drilling and operational optimisation. Jasmine has produced many times its originally-forecast ultimate recovery and has seen its economic life extended repeatedly. Manora, while smaller, has similar characteristics – continual extensions of economic life through drilling success and optimisation projects. Together, these assets provide stable production and strong operating margins.

Wassana (100 percent working interest) represents a cornerstone growth project within the Thailand portfolio. Valeura is executing a major field redevelopment that includes a new central processing platform designed to increase production from approximately 3 mbbls/d to around 10 mbbls/d. First oil from the new facility is expected in Q2 2027, with the redevelopment extending field life into the 2040s and creating a hub for future satellite developments.

Gulf of Thailand Growth Platform (Non-operated)

Beyond its existing producing fields, Valeura is expanding its footprint in Thailand through a strategic farm-in with PTT Exploration and Production, Thailand’s national oil company. The transaction significantly increases Valeura’s acreage position in the Gulf of Thailand and introduces exposure to both oil and gas opportunities adjacent to existing infrastructure.

The blocks (G1/65 and G3/65) contain multiple existing discoveries and are already the subject of near-term development planning, with the potential to progress initial development projects toward final investment decisions in 2026. While the farm-in transaction remains subject to government approval, management views its nascent partnership with PTTEP as a key medium-term growth catalyst that complements Valeura’s operated production base.

Türkiye Deep Gas Asset (Non-operated, Legacy Upside)

Valeura also retains an interest in a deep, tight-gas play in Türkiye, which represents a longer-dated upside opportunity. The asset has been farmed out to an experienced regional operator, limiting Valeura’s capital exposure while preserving upside through appraisal and testing activity. Management has positioned Türkiye as a “free option” for shareholders, providing potential upside without detracting from the company’s operational and strategic focus on the Asia-Pacific region.

Management Team

Sean Guest – President & Chief Executive Officer

Sean Guest brings 30+ years of international oil and gas experience, including senior operational and leadership roles with Shell, Woodside and Schlumberger. Prior to joining Valeura, he served as CEO of two private juniors, leading production and exploration teams across Asia and Africa.

Yacine Ben-Meriem – Chief Financial Officer

Yacine Ben-Meriem is a seasoned finance professional with 15+ years in oil and gas investment banking and finance, particularly in Southeast Asia. Before joining Valeura, he co-founded Panthera Resources, a key partner in Valeura’s Gulf of Thailand acquisitions. He has held senior roles at ABN AMRO and Standard Chartered in Singapore.

Grzegorz (Greg) Kulawski – Chief Operating Officer

Grzegorz Kulawski brings 25+ years of upstream experience through leadership roles at Shell, including deputy CEO of Sakhalin Energy, head of global safety, and senior leadership roles overseeing other major producing operations. His background spans brownfield operations and greenfield developments, with expertise in complex project execution and team integration across regions.

Kelvin Tang – Executive Vice-president, Corporate, General Counsel & Corporate Secretary

Kelvin Tang has over 18 years of experience in international oil and gas, with experience as head of business development at Hibiscus Petroleum and as CEO and COO of KrisEnergy, a Singapore-listed predecessor to Valeura’s initial Thailand interests. His background combines legal, commercial and strategic leadership.

Ian Warrilow – Thailand Country Manager

Ian Warrilow has 30+ years of operational and commercial experience in oil and gas across Australia, Europe and Southeast Asia. Before joining Valeura, he served as COO of Energy Development Oman and held senior roles with Mubadala Petroleum, including leadership positions in Indonesia and Thailand. His technical and regional expertise supports Valeura’s on-the-ground operations.

This post appeared first on investingnews.com

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Investing

Is Now a Good Time to Invest in Copper? Experts Tout Bullish Fundamentals

Investing 6 Mins Read

Copper prices surged to an all-time high in January after a tumultuous 2025.

Although there was some panic buying in the sector at a couple of points last year, prices began to trade on market fundamentals in the third and fourth quarters, driven by significant supply disruptions.

At this year’s Vancouver Resource Investment Conference (VRIC), Darrell Thomas, host of VRIC Media and the Money Levels Show, led a panel focused on the red metal’s 2025 moves and where it may be headed in 2026 and beyond.

Joining Thomas were Coppernico Metals (TSX:COPR,OTCQB:CPPMF) CEO and Chair Ivan Bebek; Lobo Tiggre, CEO of IndependentSpeculator.com; and Rick Rule, proprietor of Rule Investment Media.

The math supports copper demand

The last several years have brought a narrowing gap between copper supply and demand.

The panelists noted that newer industries such as artificial intelligence (AI), electric vehicles (EVs) and the energy transition are driving additional demand in an already tight market.

Rule noted that, regardless of whether demand from new technologies declines, underlying base-level consumption will be driven by urbanization and the growth of the middle class in developing nations.

“It isn’t about Teslas. It’s about the fact that a billion people on Earth have no access to primary electricity,’ he said.

‘It’s about the fact that one of the greatest leaps forward in humankind was raising 500 million Chinese from rural penury to middle-class status,” Rule told the audience at VRIC.

He explained that it’s a matter of simple arithmetic, suggesting that the amount of copper that it will take to get everyone to a better standard of living is going to be massive.

“It’s inescapable, it’s truly inescapable,” Rule said.

Bebek noted that it’s not just the developing world; there are also significant projects underway in the US.

“One of the biggest uses of copper is in development, and if you travel around the US, everywhere there is a lot of modernization. Airports and infrastructure to meet the new requirements, and everyone’s building is cleaner. So that’s going to be steady,” he said. Bebek also noted that tech demand is inevitable even if there is some deceleration.

“Baseline demand is built in. Data center demand may be influenced by copper prices, but I don’t think it matters. I think copper demand grows 2 percent compounded without data centers,” Rule added.

Copper supply facing challenges

Meanwhile, steady copper demand growth is running up against a stressed supply chain.

Experts have been calling for a structural copper supply deficit for years, largely due to the absence of new mining operations, but in 2025, the industry faced significant supply-side disruptions.

In May, underground activities at Ivanhoe Mines’ (TSX:IVN,OTCQX:IVPAF) Kakula mine in the Democratic Republic of the Congo were suspended after water ingress into the mine; the company ultimately reduced its annual guidance by 28 percent. Then, in July, a tunnel collapse that killed six at Codelco’s El Teniente mine in Chile forced the company to temporarily halt operations, causing it to reduce its guidance by 30,000 metric tons.

In September, another water ingress incident at Freeport-McMoRan’s (NYSE:FCX) Grasberg mine in Indonesia killed seven workers, forced the shutdown of operations and deferred significant production through Q4 2025.

These major incidents, along with other minor supply-side disruptions throughout last year, have shortened the timeline for the copper market to enter a supply deficit.

“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,’ said Tiggre.

‘I’m a simple due diligence guy, and I just don’t see the supply,’ he added.

Overall, the panelists agreed that there’s enough copper in the world to meet demand, but the challenge is in getting out of the ground. Discovering deposits will be key to overcoming that issue.

“Copper mines are hidden behind geopolitical boundaries, social issues or undercover. They’re blind, and the easy ones have been found,” Bebek explained to the VRIC crowd.

He cited data showing that since 2015, there haven’t been any copper discoveries of real consequence.

Rule echoed that point, suggesting that it’s largely going to be an issue of investment into exploration. He discussed his history in the industry and noted the underinvestment in copper exploration during that period; however, when funds were spent, copper was uncovered. He also suggested that the easy copper has been found.

“There’s still more to be found, but its 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 spending money,” he said.

Rule went on to explain that once the industry decides to reinvest in exploration, copper will be revealed, but it will take at least a decade. “There’s no relief in sight in the near term,” he said.

He also highlighted permitting issues and cited the example of the Resolution mine in Arizona, US.

Rule stated that the project has exceptional grades averaging 1.5 percent; however, it’s been stuck in permitting for a massive 28 years. Even with streamlined permitting processes being developed in countries like Canada and the US, companies are still likely to face years-long timelines to bring metal online.

“Even if Trump decides that copper is the most critical mineral, and he’s going to provide subsidies and price floors, and he’s going to guarantee that what could technically be referred to as crappy projects make money, you still have to get them permitted,” Tiggre said. Even with fast-track permitting, he noted that these projects will still require billions in investment, and in the best-case scenario will only save three to five years.

Investor takeaway

The biggest emerging factor is how the industry will respond to the growing copper supply gap.

As Rule pointed out, there doesn’t appear to be a near-term solution.

He also noted that in order for companies to maintain copper production at the current level, the required investment stands at US$250 billion over the next 10 years, which is US$150 billion more than the industry has.

“The problem with that is that maintains current production, a level where copper is in deficit and demand is growing at 2 percent compounded,” Rule explained to the audience.

With copper prices at all-time highs, it may not be time to jump in. But with geopolitical and economic uncertainty still looming over global financial markets, there could be opportunities from volatility.

“All I’m saying is there’s no need to give in to FOMO here. I’m super bullish. Doug Casey taught me to let volatility to be my friend. That’s what I’m thinking this year,” Tiggre said.

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

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Investing

Nine Mile Metals Intersects 44 Meters of Copper Mineralization and Provides Drill Program Update

Investing 9 Mins Read

Nine Mile Metals LTD. (CSE: NINE,OTC:VMSXF) (OTC Pink: VMSXF) (FSE: KQ9) (the ‘Company’ or ‘Nine Mile’) is pleased to provide the details of drill hole WD-25-05 in addition to a summary of the 2025 drill program completed in December at the Wedge Project.

Drillhole WD-25-05:

DDH WD-25-05 collared on the same drill pad as WD-25-01 and drilled at an azimuth of 310 degrees and a dip of -60 to a final depth of 275 meters.

  • DDH-WD-25-05 was successful, intersecting massive VMS (Cu, Pb, Zn, Ag, Au) mineralization between 155.52 – 157.80 meters (Figure 1) followed by 40 meters of mineralized felsic volcanics (rhyolite) as seen in Figure 2 between 157.80 and 197.80 meters before terminating in sediments.
  • Mineralization consisted of both pyrite and chalcopyrite as disseminations, masses, and associated with quartz bands parallel to bedding.
  • All drill core has been measured, logged, photographed, marked, and cut for sampling at the company’s warehouse in Bathurst, New Brunswick. A quick XRF analysis was also completed for sulphide confirmation – filtering and width identification in definition for sampling core for Actlabs Analysis. A total of 55 sections were delivered to ALS Global in Moncton, New Brunswick for Base and Precious Metals analysis, including Antimony.

FIGURE 1: Brecciated contact between Graphitic Shear and VMS Mineralization.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7335/283358_4923c8bf64124805_002full.jpg

FIGURE 2: Banded pyrite and chalcopyrite within siliciifed felsic volcanics

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7335/283358_4923c8bf64124805_003full.jpg

Drill Holes BHEM -01 and BHEM-02:

Both drill holes were collared on permitted drill pads in the northwest along the western extension (Figure 4). The drill core for both BHEM-01 and BHEM-02 were solid with minimal faulting / fracturing in the host sediments providing ideal drill holes for surveying and subsequent follow up. Collared outside of known mineralization, the holes are well positioned to locate and model adjacent mineralization with no interference from a conductive source within the drill hole. Both holes are capped and easily accessible, the drill pads available for extending drilling further west and if required, additional depth.

FIGURE 3: Drilling BHEM – 01 in Northwest Area

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7335/283358_4923c8bf64124805_004full.jpg

Gary Lohman, VP Exploration, Director stated, ‘Our Wedge Drill Program has been very successful, intersecting Massive Cu bearing VMS where targeted in the western extension of the Wedge Deposit, as designed. Two holes were also drilled in the Northwest area to facilitate an upcoming BHEM survey, their locations in solid rock on the flanks of previous underground workings. In addition to identifying additional mineralization, the size and scale of the individual geological units and results from the upcoming BHEM program will assist in modeling the deposit and targeting additional drilling along the western extension. After our successful drilling in the southern lower extension of the deposit, our knowledge of the deposit and mineralization has increased and identified new areas of priority that were not permitted for this past drill program. We have identified new drill collar locations to continue to test the Copper Zone on the western extension in addition to potential locations that avoid the shear zone in the south. New permitting is underway in preparation of an exciting 2026 campaign at the Wedge, including our West Wedge and Tribag Target Trend drill programs.’

2025 Drill Program Overview:

The program consisted of 7 drill holes totaling 1,654 meters with 5 holes targeting copper mineralization in the western extension of the Wedge Mine with two additional holes collared in the northwest to facilitate BHEM (Bore Hole Electromagnetic) surveying this spring. The goal is to map the depth of the deposit and define the new copper zone. We should also be able to map the western parameters of the deposit, heading west towards the Tribag and West Wedge along trend.

The 2025 drill program was highly successful, with all five drill holes targeting copper mineralization intersecting both massive VMS (Cu, Pb, Zn, Ag, Au) and banded copper sulphide mineralization. The two holes collared to facilitate BHEM geophysical surveying were also successful, collared in the northwest portion of the western extension, away from the large, graphitic shear zone that bounds the deposit in the south and west of the interpreted extent of previous, underground workings. BHEM surveying has its best results when drilled away from the mineralization and the magnetic interference.

The five drill holes targeting mineralization were all collared in the southwest, crossing through a brecciated, graphitic shear zone (tectonic melange) before intersecting a well-defined massive VMS (Cu, Pb, Zn, Ag, Au) horizon. This is characteristic of the mineralized contact after which a sequence of intercalated sediments and volcanics are cut prior to the holes intersecting the main zone of VMS mineralization with mineralized widths between 13 and 48 meters.

The VMS mineralization consisted of abundant pyrite and lesser chalcopyrite, sphalerite, and galena. Local, secondary copper, covellite (CuS) and bornite (Cu5FeS4), was also identified in drill holes WD-25-02 and WD-25-04.

In the west, the metal zonation appears different than the drill holes completed in the east with the prevalence of a greater concentration of chalcopyrite and pyrite with lesser galena (Pb) and sphalerite (Zn). Although it is early in the process, we have confirmed the presence abundant chalcopyrite and coarser grained pyrite in the western extension.

The key observations in this program include:

  • Graphitic Shear Zone in contact with VMS confirmed as a diagnostic marker horizon in the southwest.
  • Mineralized siliceous volcanics were intersected in numerous drill holes, defining an additional, mineralized sequence.
  • VMS mineralization occurs in multiple horizons as seen in holes WD-25-01 and WD-25-02.
  • The intersected units (Argillite, VMS and Felsic Volcanics) are of substantial width and extent which will assist in the 3D modeling of the deposit and subsequent drill hole targeting.

Patrick J Cruickshank, MBA, CEO & Director, stated, ‘We are thrilled with the success of our Wedge Phase 2 Drill Program. To have all 5 holes strike mineralization was more than we expected. It is a testament to our Technical Team and specifically, Mike Dufresne and Gary Lohman. We already have identified Phase 3 Drill holes and are determined more than ever to expand this deposit’s footprint and expose this entire new 3rd High Grade Copper Lens. In addition, the BHEM surveys, the Phase 3 Wedge Drilling, the TriBag & West Wedge drilling to test this VMS Cluster Trend, 2026 will be filled with Wedge Project activity. We expect our first Assays to arrive this week from ALS Global and look forward to sharing the results.’

FIGURE 4: Drill Hole Locations, WD-25-05, BHEM-01, BHEM-02

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7335/283358_4923c8bf64124805_005full.jpg

All drill core has been measured, logged, photographed, marked, and cut for sampling at the company’s warehouse in Bathurst, New Brunswick. A quick XRF analysis was also completed for sulphide confirmation – filtering and width identification in definition for sampling core for ALS Global. A total of (57) samples in Hole WD-25-05 have been identified for Base and Precious Metals analysis, including Antimony, and have been shipped to ALSGlobal, Moncton, New Brunswick for Rush processing.

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., PGO., 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 world-famous Bathurst Mining Camp, New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Wedge VMS Project, Nine Mile Brook VMS Project, California Lake VMS Project, and the Canoe Landing Lake (East – West) VMS Project. The Company is focused on Critical Minerals Exploration (CME), positioning for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge with Gold.

Social Media

X: @NineMileMetals
LinkedIn: Nine Mile Metals
Facebook: @ Nine Mile Metals

ON BEHALF OF Nine Mile Metals LTD.

‘Patrick J Cruickshank, MBA’
CEO and Director
T: +1.506-800-0581
E: info@ninemilemetals.com

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) prior to commencing the 2023 exploration drill program, the ground will be mapped at surface and representative samples analyzed to determine the base and precious metal assay values, (b) the Ag and Au values will be reported upon receipt of the certified assay results from ALS Global, and (c) our current financial raise will enable us to drill the Wedge Project (along with our Canoe Landing VMS Project and follow up exploration work on our California Lake VMS Project) this season as opposed to next year. 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 Street East, Toronto, ON M5C 1P1 (T) (506) 804-6117
www.ninemilemetals.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283358

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Why Rare Earth Processing Remains China’s Strongest Leverage Point

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As governments scramble to secure supplies of rare earth elements, a new engineering study from Malaysia has cast fresh light on why China continues to dominate one of the most critical parts of the supply chain—processing.

The research zeroes in on what many industry insiders already regard as the hardest step in rare earth production: separating neodymium and praseodymium to the ultra-high purity levels required for permanent magnets.

Rare earth elements tend to occur in clusters and behave almost identically at the chemical level. Neodymium and praseodymium, two of the most important inputs for high-performance magnets, sit next to each other on the periodic table.

This proximity makes them extremely difficult to separate cleanly. Even with viable ore, the separation step is so complex and capital-intensive that it continues to favor countries like China that already operate such systems at scale.

What makes this phase more complex, according to the research, is that separating neodymium from praseodymium to magnet-grade purity requires an extraordinary number of repetitions.

Their modeled plant design calls for roughly 62 equilibrium stages, compared with as few as 16 stages for earlier, bulk separations. In practical terms, this means that a facility capable of producing magnet-grade material must be vast, expensive, and technically sophisticated.

Loosening the grip

China’s dominance stems largely from its ability to meet this requirement at industrial scale. While the country accounts for about 60 percent of global rare earth mining, it processes close to 90 percent of the world’s supply.

That dominance did not happen by accident. After acquiring early separation know-how from France in the 1980s, China spent decades refining solvent extraction techniques, training engineers, and scaling plants far beyond what most countries were willing or permitted to build.

Today, China produces roughly 70,000 metric tons of refined rare earths per year. It also controls nearly all processing of heavy rare earth elements, which are even more difficult to separate and are critical for high-temperature and defense applications.

Thus, the Malaysian study reinforces why that advantage persists. It shows that even when geology is favorable, processing remains the true barrier to entry.

This reality has sharpened concerns in the US and its allies, especially as China has shown a willingness to use rare earths as a geopolitical tool.

In 2010, Beijing restricted exports to Japan during a diplomatic dispute. In 2023, it imposed global restrictions on the export of rare earth processing and separation technologies, making it harder for competitors to build midstream capacity.

Those moves have heightened urgency in Washington. Rare earths are essential to modern defense systems, from fighter jets and submarines to precision-guided munitions, as well as to electric vehicles and consumer electronics.

Despite being the world’s second-largest rare earth producer, most material mined domestically has historically been sent to China for separation. Until recently, the country lacked commercial-scale facilities capable of turning ore into finished magnet materials.

This is the reality that the rest of the world is trying to slowly change. Since 2020, the US Department of Defense has committed hundreds of millions of dollars to rebuilding a “mine-to-magnet” supply chain, with projects concentrated largely in Texas.

These include light and heavy rare earth separation plants, metal and alloy production, and permanent magnet manufacturing.

Even so, near-term capacity remains small relative to China’s. New facilities will take years to ramp up, and most focus initially on light rare earths rather than the heavier elements where China’s dominance is nearly absolute.

From Project Vault to Africa: US accelerates rare earth supply chain strategy

The United States is stepping up efforts to diversify rare earth supply beyond China, backing early-stage projects aimed at strengthening non-Chinese production and processing capacity.

One such move came in February, when the US Trade and Development Agency (USTDA) confirmed its intention to support Altona Rare Earths’ (LSE:REE) Monte Muambe rare earths project in Mozambique.

The announcement was made by USTDA Deputy Director and Chief Operating Officer Thomas Hardy during a high-level forum on US support for critical mining projects in sub-Saharan Africa, attended by Altona executives.

USTDA’s support is expected to help define the technical and financial development pathway for Monte Muambe, which hosts rare earth elements used in permanent magnets, defence systems and energy transition technologies. The backing remains subject to the execution of a formal grant agreement.

The commitment aligns with broader US initiatives aimed at reshaping critical mineral supply chains, including recent announcements tied to Project Vault — Washington’s effort to secure strategic reserves and reduce reliance on Chinese-dominated processing and refining. It also coincides with the launch of the Forum on Resource Geostrategic Engagement (FORGE), unveiled at the 2026 Critical Minerals Ministerial as a platform to mobilise capital and diplomatic support for resilient mineral supply networks.

While Monte Muambe remains at an early stage, Altona is also awaiting assay results from recent fluorspar and gallium drilling, which the company believes could further enhance the project’s strategic appeal. Fluorspar is a key industrial mineral used in steelmaking, chemicals and battery supply chains, areas where China also holds significant market share.

Taken together, the US backing of Monte Muambe underscores how governments are increasingly using policy tools, financing support and strategic partnerships to counterbalance China’s continued dominance in rare earth processing, a reality highlighted in the recent Malaysian report.

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

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Locksley Resources’ Underground Mapping Reveals Major New Target Boosting High-Grade Antimony Potential at its Mojave Project Desert Antimony Mine

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Locksley Resources Limited (ASX: LKY; OTCQX: LKYRFADR: LKYLY) announced a major new target zone revealed by underground mapping at its Desert Antimony Mine (DAM), part of the company’s Mojave Project.

This notable finding, the Beefeater Shear, is a shear zone corridor mapped at widths of up to 10-15 meters and a result of a comprehensive Stage III technical review focusing on the Northern Block. This included high-resolution underground mapping at the DAM and regional structural analysis. More information can be found here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03054294-6A1311088&v=undefined.

‘Locksley’s geology team considers Beefeater to share the same structural timing and kinematic history as the DAM mineralized vein system to the West,’ said Kerrie Matthews, Managing Director and CEO of Locksley. She added that these insights along with the validation of project-wide radiometric targets, pave the way for targeted sampling and drilling to confirm mineralization and economic potential. ‘This allows us to focus on extensions with greater certainty,’ she said, noting that by mapping the underground workings at DAM the company has essentially ‘unlocked’ the geometry of the system.

‘We now see exactly how high-grade, mineralized blocks have been created by later structural events,’ she affirmed adding the identification of the 10-15 meter Beefeater Shear provides Locksley with a new exploration target that can increase the exploration pipeline of critical mineral projects on the Mojave claims. ‘We look forward to receiving assays from the various surface and underground sampling,’ she said.

Locksley Resources (https://www.locksleyresourcescom.au) is focused on critical minerals in the U.S. The company is actively advancing the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley is executing a mine-to-market strategy for antimony, aimed at reestablishing domestic supply chains for critical materials, underpinned by strategic downstream technology partnerships with leading U.S. research institutions and industry partners. This targeted approach, combined with resource development with innovative processing and separation technologies, positions Locksley to play a role in advancing U.S. critical materials independence.

Contact: Beverly Jedynak, beverly.jedynak@viriathus.com, 312-943-1123; 773-350-5793

 

View original content:https://www.prnewswire.com/news-releases/locksley-resources-underground-mapping-reveals-major-new-target-boosting-high-grade-antimony-potential-at-its-mojave-project-desert-antimony-mine-302683981.html

SOURCE Locksley Resources

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