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DOJ takes Live Nation-Ticketmaster to court for antitrust trial

Business 5 Mins Read

The Justice Department’s endeavor to break up Live Nation, Ticketmaster’s parent company, has officially made its way to the courtroom.

The antitrust case, which began with jury selection Monday, is unfolding in federal court in New York. Opening statements are scheduled to start Tuesday, with the trial expected to last six weeks.

The lawsuit, filed in 2024 by the Justice Department and dozens of state attorneys general, as well as Washington, D.C., alleges that Live Nation has illegally dominated the live concert industry by monopolizing ticketing, concert booking, venues and promotions.

The complaint, which was filed in the Southern District of New York, accuses the company of engaging in ‘anticompetitive conduct’ that leads fans to pay more in fees, artists to get fewer opportunities to play concerts and venues to have limited choices for ticketing services.

Ticketmaster has for years been the target of scrutiny by music fans who reported frustrations with buying tickets through the platform.

Live Nation directly manages more than 400 musical artists and owns or controls more than 265 concert venues in North America. And through Ticketmaster, the lawsuit says, it controls around 80% of major concert venues’ ticketing — as well as a growing share of the resale market.

“Through interconnected agreements associated with Live Nation’s various roles as ticketer, promoter, artist manager, and venue owner,” the complaint says, “Live Nation has created a feedback loop that pushes ticketing and ancillary fees higher while allowing Live Nation to be on all sides of numerous transactions and thereby double-dip from the pockets of fans, artists, and venues.”

Here’s what else to know.

Attempts to advocate for ticketing reform have spanned decades. The rock band Pearl Jam tried to push the issue forward 30 years ago when its members testified before Congress, saying Ticketmaster had refused to agree to low concert ticket prices and fees. The case was dismissed a year later, and Ticketmaster’s dominance has persisted over the decades that followed.

But frustration over Ticketmaster began to boil over when it incurred the wrath of one of the country’s largest fan bases: Swifties, aka followers of Taylor Swift.

In late 2022, overloaded presale queues for the domestic leg of Swift’s 2023 Eras Tour caused the site to crash and led Ticketmaster to cancel the sale. The fiasco even drew the attention of Swift herself, who called it “excruciating” to watch.

Soon afterward, in January 2023, the Senate Judiciary Committee held a hearing examining Ticketmaster’s dominance in the industry. During the bipartisan hearing, which probed whether Ticketmaster’s outsize control has unfairly hurt customers, even senators couldn’t refrain from making references to Swift.

The Swifties also brought their own lawsuits against Ticketmaster in December 2022. One class-action suit was dropped by the end of 2023, while another suit, filed together by 355 individual ticket buyers, still awaits trial.

Live Nation Entertainment has denied that it’s a monopoly.

The company has told NBC News that the Justice Department’s lawsuit “won’t solve the issues fans care about relating to ticket prices, service fees, and access to in-demand shows.”

“Calling Ticketmaster a monopoly may be a PR win for the DOJ in the short term, but it will lose in court because it ignores the basic economics of live entertainment, such as the fact that the bulk of service fees go to venues, and that competition has steadily eroded Ticketmaster’s market share and profit margin,” the company said.

Last week, Live Nation asked U.S. District Judge Arun Subramanian to pause the case so it could appeal his decision denying the case’s dismissal.

Subramanian, who was appointed by President Joe Biden, declined to delay the trial and ruled to allow the Justice Department’s claims to proceed.

Potential witnesses for the trial include: musician Kid Rock (whose real name is Robert Ritchie), Minnesota Timberwolves CEO Matthew Caldwell, Roc Nation CEO Desiree Perez, Live Nation Entertainment CEO Michael Rapino and Mumford & Sons keyboardist Ben Lovett.

Kid Rock is expected to testify about ‘competitive conditions for concert promotions and primary ticketing, including the impact of Defendants’ actions on artists and fans,’ according to the potential witness list provided by the plaintiffs’ attorneys. In January, he told the Senate Commerce Committee at a hearing that the ticketing industry is ‘full of greedy snakes and scoundrels.’ (It appears Kid Rock is still partnering with Live Nation for his “Freedom 250” tour, with tickets currently being sold exclusively through the platform.)

Lovett’s testimony, meanwhile, would be likely to address ‘artist preferences and competitive dynamics associated with the promotions and amphitheaters markets,’ according to the plaintiffs’ potential witness list document. He’s also listed on the defendants’ potential witness list document.

Live Nation CEO Michael Rapino and former Ticketmaster CEO Irving Azoff are also expected to take the stand. They were instrumental figures in the 2010 merger.

Azoff, who represents major artists such as Harry Styles, is ‘likely to testify about industry trends, dynamics, and competition, the selection of live event promotion companies, and tour and show routing and venue selection, as well as ticketing provider preferences,’ according to the potential witness list provided by the defendants’ attorneys.

Rapino’s expected testimony would focus on ‘the company’s business, its corporate structure, strategy, and finances, including the different lines of business and how they interact, as well as industry trends, dynamics, and competition.’ The defendants’ attorneys also said he would be likely to ‘rebut the plaintiff’s allegations of misconduct and anticompetitive effects.’

Last year, the Federal Trade Commission separately sued Live Nation and Ticketmaster over allegations of illegal and deceptive business practices that it says caused consumers to pay ‘significantly more’ than the face value of a ticket.

Seven states — Colorado, Florida, Illinois, Nebraska, Tennessee, Utah and Virginia — joined the FTC’s suit, which was filed in U.S. District Court for the Central District of California.

This post appeared first on NBC NEWS

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Terra Clean Provides Corporate Update

Investing 4 Mins Read

Terra Clean Energy CORP. (‘Terra’ or the ‘Company’) (CSE: TCEC,OTC:TCEFF, OTCQB: TCEFF, FSE: C9O0) announces that it has received the resignation of Alex Klenman as a member of the Board of Directors of the Company effective immediately. The Company thanks Mr. Klenman for his services to the Company and wishes him best wishes for his future endeavors.About Terra Clean Energy Corp.Terra Clean Energy Corp. is a Canadian-based uranium exploration and development company. The Company is currently developing the South Falcon East uranium project, which holds a 6.96M pound inferred uranium resource* within the Fraser Lakes B Deposit, located in the Athabasca Basin region, Saskatchewan, Canada as well as past producing uranium mines in Utah and uranium exploration properties in Wyoming, United States.

ON BEHALF OF THE BOARD OF Terra Clean Energy CORP.

‘Greg Cameron’
Greg Cameron, CEO

Qualified Person

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101, reviewed and approved on behalf of the company by C. Trevor Perkins, P.Geo., the Company’s Vice President, Exploration, and a Qualified Person as defined by National Instrument 43-101.

*The historical resource is described in the Technical Report on the South Falcon East Property, filed on sedarplus.ca on February 9, 2023. The Company is not treating the resource as current and has not completed sufficient work to classify the resource as a current mineral resource. While the Company is not treating the historical resource as current, it does believe the work conducted is reliable and the information may be of assistance to readers.

Forward-Looking Information

This news release contains certain statements that may be deemed ‘forward-looking statements’. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Forward-looking statements may include, without limitation, statements relating to the Company’s planned exploration activities on properties and the potential development of mineral resources and mineral reserves which may or may not occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to: competition within the industry; actual results of current exploration activities; environmental risks; changes in project parameters as plans continue to be refined; future price of commodities; failure of equipment or processes to operate as anticipated; accidents, and other risks of the mining industry; delays in obtaining approvals or financing; risks related to indebtedness and the service of such indebtedness; as well as those factors, risks and uncertainties identified and reported in the Company’s public filings under the Company’s SEDAR+ profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

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

For further information please contact:

Greg Cameron, CEO
info@tcec.energy
416-277-6174

Terra Clean Energy Corp
1133 Melville Street, Suite 2700
Vancouver, BC V6E 4E5
www.tcec.energy

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

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Fortune Bay Drills Multiple Gold Zones at Goldfields including 6.61 g/t over 5.0 m within 2.54 g/t over 17.0 m

Investing 10 Mins Read

Drilling at the Box deposit continues to demonstrate wide-open mineralization beyond the PEA open-pit

Fortune Bay Corp. (TSXV: FOR,OTC:FTBYF) (FWB: 5QN) (OTCQB: FTBYF) (‘Fortune Bay’ or the ‘Company’) is pleased to announce assay results for the initial three drill holes from the ongoing exploration drilling program at its 100% owned Goldfields Gold Project (‘Goldfields’ or the ‘Project’) in Saskatchewan, one of Canada’s top mining jurisdictions.

The three drill holes were designed to test substantial down-dip gaps in previous drill coverage at the Box deposit (up to 170 m) targeting resource expansion beyond the open-pit limits defined in the Updated Preliminary Economic Assessment (‘Updated PEA’).

The results confirm the continuation of structurally-controlled, higher-grade mineralization at depth.

Assay Highlights:

  • Hole B25-346
    • 2.54 g/t over 17.0 m, including
    • 6.61 g/t over 5.0 m
  • Hole B25-347
    • 6.95 g/t over 2.0 m
    • 3.72 g/t over 3.0 m
    • 4.55 g/t over 3.0 m
    • 2.76 g/t over 7.0 m, including
    • 5.63 g/t over 3.0 m
    • 8.72 g/t over 2.0 m
  • Hole B25-348
    • 2.29 g/t over 9.3 m, including
    • 4.68 g/t over 3.0 m

Gareth Garlick, VP Technical Services, commented, ‘These results add to a growing inventory of strong assays down dip at Box, reinforcing potential for resource growth through additional delineation drilling. Gold mineralization remains wide open down dip at Box, and we are looking forward to additional assays from larger step-out holes that have recently been completed’.

Dale Verran, CEO, added, ‘While PFS-level development is advancing for an open-pit mine at Goldfields, we believe the broader gold resource base has meaningful growth potential through continued expansion and exploration drilling at numerous targets. With nearly all the PEA open-pit resources already classified in the Indicated category, we are uniquely positioned to direct our drill budget toward expansion and discovery rather than resource delineation infill. This provides an opportunity to unlock additional near-mine ounces that could further enhance Goldfields’ already robust economics and strengthen the long-term development profile of the Project.’

Box Deposit – Down-Dip Expansion

As illustrated in Figure 1, the results from B25-346, B25-347 and B25-348 contribute to an expanding dataset of strong down-dip assay intercepts at Box, supporting the potential for delineation of additional mineral resources.

Drill Hole Details and Assay Results

The initial three drill holes at Box were designed to test significant gaps in down-dip drill coverage (up to 170 metres), extending down-dip up to 300 metres beyond the open-pit designed in the Updated PEA. All three holes successfully intersected the mineralized Box Mine Granite (‘BMG’) at or near the depths predicted by the geological model. Observed mineralization characteristics – including quartz vein orientation, thickness, and vein density – are consistent with those documented elsewhere within the deposit.

Higher gold grades at the Box deposit are typically associated with discrete north-south trending structural zones exhibiting increased quartz vein intensity. These higher-grade zones, extending below the Updated PEA open-pit base, present attractive targets for delineation drilling focused on expanding the mineral resources.

The current drilling at Box is oriented towards the east, with dips as shallow as practically achievable (approximately -55° to -60°) to intersect structural zones at the highest angle possible (closest to true thickness) and to maximise the internal coverage of the BMG for each drill hole.

Table 1: Assay results for drill holes B25-346, B25-347 and B25-348.

Hole ID

From (m)

To (m)

Length (m)

Au (g/t)

Collar
Location

Azimuth /

Dip

B25-346

228

245

17.0

2.54

X 640436

Y 6593101

070 / -60

incl.

228

233

5.0

6.61

254

273

19.0

1.42

B25-347

297

312

15.0

1.91

X 640362

Y 6593025

083 / -56

incl.

297

299

2.0

6.95

and

305

308

3.0

3.72

355

374

19.0

1.86

incl.

357

360

3.0

4.55

and

367

374

7.0

2.76

incl.

371

374

3.0

5.63

432

434

2.0

8.72

B25-348

273.68

283

9.3

2.29

X 640309

Y 6592953

085 / -62

incl.

275

278

3.0

4.68

294

298

4.0

1.60

309

319

10.0

1.26

Notes:

1.

Additional assay results for B25-348 are pending (from 448 to 480 metres)

2.

Results shown are assays from 1 metre samples composited into longer intervals with a minimum lower cut-off of 0.5 g/t Au, and maximum 5 metres of consecutive waste defined as < 0.3 g/t Au.

3.

Lengths shown represent core length. True thickness of the mineralized intercepts is expected to be approximately 80% of the core length based on the dominant mineralized quartz vein orientations at Box, however this may vary on an individual sample basis.

4.

Sample locations are provided in NAD83 UTM Zone 12N. Hole azimuths are true north.

2025-2026 Exploration Drilling Program

The assay results from the three drill holes reported herein form part of a broader exploration drilling program initiated in late 2025, comprising approximately 3,250 metres of planned drilling. The program is designed to evaluate opportunities for mineral resource expansion at the Box and Athona deposits, as well as the potential to define new mineral resources at underexplored historical occurrences including Frontier, Golden Pond, and Triangle. All targets are located within two kilometres of past-producing and anticipated future mine infrastructure (Figure 2).

Technical Disclosure & Qualified Person

All drilling is being carried out with NQ diameter. Core trays are transported directly from the drill rig to the Company’s logging facility in Uranium City. Sample intervals are selected for assay based on observations of lithology type, presence of quartz veins and sulphides. These intervals are marked up for continuous sampling with one metre sample increments (adjusted where necessary to not cross lithological boundaries). Core is sawn in half along the core axis for sampling, with the remaining half preserved and stored in the core box. Samples are bagged and placed in plastic pails sealed with security tags for export by air freight to Saskatoon (CA).

All sample processing is being carried out by SRC Geoanalytical Laboratories in Saskatoon using their screened metallics sample process method, which includes; (1) crushing and homogenization of the entire sample; (2) split off a representative 1 kg split for analysis; (3) pulverizing the split with 95 % passing 150 mesh; (3) screening the split at 150 mesh; (4) assay the entire +150 mesh fraction; (5) duplicate assay of two 30 g splits of the -150 mesh fraction; and (6) calculation of the weighted average gold content (in g/t) for the entire sample. All assay is carried out by fire assay with a gravimetric finish.

Certified reference blank and standard material is being used by the Company for independent QAQC of assay results. QAQC samples are inserted into assay sample sequences and results are reviewed to assess for any potential laboratory contamination and to verify assay accuracy and precision. A selected suite of samples will also be sent to another laboratory for additional ‘umpire’ assay testing to further verify the results.

Details for the Updated PEA for Goldfields are provided in the technical report titled ‘Goldfields Project Updated NI 43-101 Technical Report & Preliminary Economic Assessment, Saskatchewan, Canada’, dated October 20, 2025, prepared by Kevin Murray, P.Eng.; Scott C. Elfen, P.E.; James Millard, P.Geo.; Jonathan Cooper, P.Eng.; Marc Schulte, P.Eng.; Cliff Revering, P.Eng.; and Ron Uken, Pr.Sci.Nat. for Fortune Bay Corp. The technical report is available under the Company’s issuer profile on SEDAR+ (www.sedarplus.ca) and on the Company’s website at www.fortunebaycorp.com.

The technical and scientific information in this news release has been reviewed and approved by Gareth Garlick P.Geo., Vice-President Technical Services of the Company, who is a Qualified Person as defined by NI 43-101. Mr. Garlick is an employee of Fortune Bay and is not independent of the Company under NI 43‑101.

About Fortune Bay

Fortune Bay Corp. (TSXV:FOR,OTC:FTBYF; FWB:5QN; OTCQB:FTBYF) is a Canadian mineral exploration and development company with assets in Canada and Mexico. The Company’s primary focus is advancing the Goldfields Gold Project in Saskatchewan, Canada. Fortune Bay also holds the Poma Rosa Gold-Copper Project in Chiapas, Mexico, as well as an optioned uranium project portfolio in the Athabasca Basin of Saskatchewan. Fortune Bay continues to evaluate and advance its portfolio in a disciplined manner while maintaining a strong technical foundation and prudent capital management. For more information, please visit www.fortunebaycorp.com or contact info@fortunebaycorp.com.

On behalf of Fortune Bay Corp.

‘Dale Verran’
Chief Executive Officer
902-334-1919

Cautionary Statement

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Words such as ‘expects’, ‘aims’, ‘anticipates’, ‘targets’, ‘goals’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, ‘seeks’, ‘estimates’, ‘continues’, ‘may’, variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements, and include, but are not limited to, statements with respect to: the results of the Updated PEA, including future Project opportunities, future operating and capital costs, closure costs, AISC, the projected NPV, IRR, timelines, permit timelines, and the ability to obtain the requisite permits, economics and associated returns of the Project, the technical viability of the Project, the market and future price of and demand for gold, the environmental impact of the Project, and the ongoing ability to work cooperatively with stakeholders, including Indigenous Nations, local Municipalities and local levels of government. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward- looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate Indigenous Nations and local Municipalities, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on Fortune Bay, readers should refer to Fortune Bay’s website at www.fortunebaycorp.com.

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

SOURCE Fortune Bay Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2026/03/c6817.html

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Sankamap Announces $5.0M Private Placement

Investing 7 Mins Read

Sankamap Metals Inc. (CSE: SCU) (‘Sankamap’ or the ‘Company’) proposes to complete a non-brokered private placement financing of up to 14,285,715 units (‘Units’) at a price of $0.35 per Unit for gross proceeds of up to $5 million (the ‘Offering’). Each Unit will consist of one (1) common share (a ‘Share’) and one-half (12) of a common share purchase warrant (each whole warrant, a ‘Warrant’). Each Warrant will entitle the holder to purchase one (1) additional common share of Sankamap at an exercise price of $0.55 for a period of twenty-four (24) months from the date of issuance. The gross proceeds from the sale of the Units will be used to advance exploration and development of Sankamap’s projects, including the acquisition of a drilling rig to be installed at the Fauro property, which will enable the simultaneous drilling of both the Kuma and Fauro properties, as well as for general working capital purposes.

Sankamap may pay finder’s fees to arm’s length finders (each a ‘Finder‘) in connection with this placement, which are expected to be up to 6.0% of the gross proceeds raised by such Finder, in cash, and share purchase warrants (each a ‘Finder’s Warrant‘) to acquire common shares of Sankamap of up to 6.0% of the number of Units sold to a purchaser or purchasers introduced by the Finder(s). Each Finder’s Warrant will entitle the holder to purchase one (1) common share of Sankamap at an exercise price of $0.35 for a period of twenty-four (24) months from the date of issuance.

The Offering is subject to the approval of the Canadian Securities Exchange (‘CSE‘) and any finder’s fees payable will be issued in accordance with the policies of the CSE and applicable securities laws. All securities issued will be subject to a four-month and one day hold period.

About Sankamap Metals Inc.

Sankamap Metals Inc. (CSE: SCU) is a Canadian mineral exploration company dedicated to the discovery and development of high-grade copper and gold deposits through its flagship Oceania Project, located in the South Pacific. The Company’s fully permitted assets are strategically positioned in the Solomon Islands, along a prolific geological trend that hosts major copper-gold deposits; including Newmont’s Lihir Mine, with a resource of 71.9 million ounces of gold¹ (310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred).

Exploration is actively advancing at both the Kuma and Fauro properties, part of Sankamap’s Oceania Project in the Solomon Islands. Historical work has already highlighted the mineral potential of both sites, which lie along a highly prospective copper and gold-bearing trend, suggesting the possibility of further, yet-to-be-discovered deposits.

At Kuma, the property is believed to host an underexplored and largely untested porphyry copper-gold (Cu-Au) system. Historical rock chip sampling has returned consistently elevated gold values above 0.5 g/t Au, including a standout sample assaying 11.7% Cu and 13.5 g/t Au3; underscoring the area’s significant potential.

At Fauro, particularly at the Meriguna Target, historical trenching has returned highly encouraging results, including 8.0 meters at 27.95 g/t Au and 14.0 meters at 8.94 g/t Au4. Complementing these results are exceptional grab sample assays, including historical values of up to 173 g/t Au4, along with recent sampling by Sankamap at the Kiovakase Target, which returned numerous high-grade copper values, reaching up to 4.09% Cu. In addition, limited historical shallow drilling intersected 35.0 meters at 2.08 g/t Au4, further underscoring the property’s strong mineral potential and the merit for continued exploration. With a commitment to systematic exploration and a team of experienced professionals, Sankamap aims to unlock the untapped potential of underexplored regions and create substantial value for its shareholders. For more information, please refer to SEDAR+ (www.sedarplus.ca), under Sankamap’s profile.

1.Newcrest Technical Report, 2020 (Lihir: 310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred)

2. Bougainville Copper Ltd. Annual Report, 2016 (1.5 Mt containing 16.1 Moz Au at 0.33 g/t and 4.6 Mt Cu at 0.3 % Indicated, 300 Mt containing 3.2 Moz Au 0.4 g/t and 0.7 Mt Cu Inferred)

3. Historical grab, soil and BLEG samples from SolGold Kuma Review June 2015, and SolGold plc Annual Report 2013/2012

4. September 2010-June 2012 press releases from Solomon Gold Ltd. and SolGold Fauro Island Summary Technical Info 2012

QP Disclosure

The technical content for the Oceania Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person in accordance with CIM guidelines. Mr. John Florek is in good standing with the Professional Geoscientists of Ontario (Member ID:1228) and a director and officer of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ ‘John Florek’
John Florek, M.Sc., P.Geol
Chief Executive Officer
Sankamap Metals Inc.

Contact:
John Florek, CEO
T: (807) 228-3531
E: johnf@sankamap.com

The Canadian Securities Exchange has not approved nor disapproved this press release.

Forward-Looking Statements

Forward-Looking Statements Certain statements in this release constitute ‘forward-looking statements’ or ‘forward-looking information’ within the meaning of applicable securities laws including, without limitation, the timing, nature, scope and details regarding the Company’s exploration plans and results at its projects. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as ‘may’, ‘would’, ‘could’, ‘will’, ‘intend’, ‘expect’, ‘believe’, ‘plan’, ‘anticipate’, ‘estimate’, ‘scheduled’, ‘forecast’, ‘predict’ and other similar terminology, or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved. These statements reflect the Company’s current expectations regarding future events, performance and results and speak only as of the date of this release.

Forward-looking statements in this press release but are not limited to, statements with respect to the expectations of management regarding the Offering, the expectations of management regarding the use of proceeds of the Offering, closing conditions for the Offering, and no objection from the CSE in respect of the Offering. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include the CSE objecting to the Offering; the proceeds of the Offering may not be used as stated in this news release; Sankamap may be unable to satisfy all of the conditions to the closing required by the CSE. Sankamap does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286173

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Crypto Market Update: Iran Conflict Pushes Bitcoin Further Under US$67,000

Investing 3 Mins Read

Here’s a quick recap of the crypto landscape for March 2 as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin (BTC) was priced at US$66,270.44, down by 0.4 percent over the last 24 hours.

Bitcoin price performance, March 2, 2026.

Chart via TradingView

Ether (ETH) was priced at US$1,947.16, down by 1.8 percent over the last 24 hours.

Altcoin price update

  • XRP (XRP) was priced at US$1.35, down by 1.8 percent over 24 hours.
  • Solana (SOL) was trading at US$83.41, down by 1.8 percent over 24 hours.

Today’s crypto news to know

Bitcoin slips under US$67,000 as Iran tensions continue

Bitcoin drifted back below $67,000 late Sunday as uncertainty surrounding the Iran-Israel conflict continued to weigh on global risk assets.

The token was down roughly 1 percent over 24 hours, after swinging sharply in response to US-Israel air strikes on Iran and retaliatory activity across the region. Prices had plunged to around US$63,255 early Saturday during the initial shock, only to rebound above US$68,000 later that day amid unconfirmed reports about Iran’s leadership.

Meanwhile, Ether hovered near US$1,950 after tumbling roughly 10 percent in the immediate aftermath of the escalation.

Bitcoin remains down about 23 percent year-to-date and nearly 50 percent off its October peak of US$126,000, with some Wall Street analysts warning a move toward US$50,000 is possible before any durable recovery takes hold.

X lifts crypto ad ban

Social media platform X has reversed course on its crypto advertising policy, removing digital assets and gambling from its list of prohibited industries for paid promotions.

The change opens the door for influencers and key opinion leaders to monetize crypto content legally on the platform, provided they follow new disclosure rules. Under X’s updated Paid Partnership framework, posts created as part of a commercial arrangement must carry a clear “Paid Partnership” label.

“Undisclosed promotions hurt the integrity of the product and lead people to distrust the content they read on X,” said Nikita Bier, the company’s head of product, adding that the update is meant to encourage transparency and regulatory compliance.

Influencers remain responsible for adhering to applicable laws, including Federal Trade Commission guidelines on endorsements. While crypto is no longer banned from paid partnerships, the platform maintains distinctions between sponsored content and traditional advertising placements.

UAE security alert prompts crypto firms to shift to remote work

Major cryptocurrency exchanges in the United Arab Emirates (UAE) have moved staff indoors after the country entered a heightened security posture, with authorities reporting missile interceptions and aerial defense activity across parts of the Gulf.

Binance and Bybit instructed UAE-based employees to remain home and work remotely until further notice. Binance circulated a company-wide notice directing staff to avoid outdoor areas and stay clear of windows and open spaces.

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

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

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Apple introduces the new iPad Air, powered by M4

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With blazing performance, more memory, enhanced connectivity, and game-changing iPadOS 26 features, iPad Air is a fantastic value

Apple® today announced the new iPad Air® featuring M4 and more memory, giving users a big jump in performance at the same starting price. With a faster CPU and GPU, iPad Air boosts tasks like editing and gaming, and is a powerful device for AI with a faster Neural Engine, higher memory bandwidth, and 50 percent more unified system memory than the previous generation. With M4, iPad Air is up to 30 percent faster than iPad Air with M3, 1 and up to 2.3x faster than iPad Air with M1. 2 The new iPad Air also features the latest in Apple silicon connectivity chips, N1 and C1X, delivering fast wireless and cellular connections — and support for Wi-Fi 7 — that empower users to work and be creative anywhere. 3 Available in two sizes and four gorgeous finishes that users love, the 11-inch iPad Air is super portable, and the 13-inch model provides an even larger display for those who want more space to multitask. With game-changing iPadOS® 26 capabilities, advanced cameras, all-day battery life, a powerful app ecosystem, and support for accessories like Apple Pencil Pro® and Magic Keyboard®, iPad Air delivers a remarkable and versatile experience for anyone who wants to do more on iPad®, from students and creators, to business users and gamers. 4

With the same starting price of just $599 for the 11-inch model and $799 for the 13-inch model, the new iPad Air is an incredible value. And for education, the 11-inch iPad Air starts at $549, and the 13-inch model starts at $749. Customers can pre-order iPad Air starting Wednesday, March 4, with availability beginning Wednesday, March 11.

‘iPad Air gives users more ways than ever to be creative and productive, offering powerful performance and incredible versatility to help them turn their ideas into reality,’ said Bob Borchers, Apple’s vice president of Worldwide Product Marketing. ‘With its blazing performance thanks to M4, incredible AI capabilities, and game-changing iPadOS 26 features, there’s never been a better time to choose or upgrade to iPad Air.’

Even More Performance with M4

M4 brings a significant boost in performance to the new iPad Air, empowering users to be productive and creative wherever they are — from aspiring creatives working with large files to travelers editing content on the go. Featuring an 8-core CPU and a 9-core GPU, iPad Air is up to 30 percent faster than iPad Air with M3 and up to 2.3x faster than iPad Air with M1. 5 Users will notice the blazing speed of M4 in everything they do — with Apple Creator Studio, compositing photos in Pixelmator Pro® or editing video in Final Cut Pro® is quicker than ever. With the 9-core GPU of M4, iPad Air supports second-generation hardware-accelerated mesh shading and ray tracing for incredible graphics performance. M4 delivers over 4x faster 3D pro rendering with ray tracing performance compared to iPad Air with M1, offering more accurate lighting, reflections, and shadows for extremely realistic gaming experiences. 2

Next-Level Power for AI

M4 is also powerful for AI, with faster memory bandwidth and an incredibly fast Neural Engine — benefiting everyone from college students transcribing lecture notes, to creators storyboarding a new project, to business users polishing emails. With the new iPad Air, unified memory jumps 50 percent, to 12GB, and memory bandwidth increases to 120GB/s, helping users run AI models faster. The 16-core Neural Engine is 3x faster than that of M1 and is perfect for everyday tasks that use on-device AI, like searching for subjects and texts in photos, or leveraging powerful AI features in apps like Goodnotes and Onform: Video Analysis App. 2 The Neural Engine also powers capabilities in Apple Creator Studio apps, like removing the background of video footage with Scene Removal Mask in Final Cut Pro.

N1 and C1X Come to iPad Air for Faster Connectivity

iPad Air features N1, an Apple-designed wireless networking chip that enables Wi-Fi 7, Bluetooth 6, and Thread. 3 N1 brings better performance when connected to 5GHz Wi-Fi networks, and improves the overall performance and reliability of features like Personal Hotspot and AirDrop®. Cellular models of iPad Air also feature C1X, a cellular modem designed by Apple that offers up to 50 percent faster cellular data performance — and for active cellular users, C1X offers up to 30 percent less modem energy usage than iPad Air with M3. 1 Cellular models of iPad Air allow users to enjoy GPS capabilities, so they can navigate with even more confidence. Users can also enjoy 5G cellular support, helping them stay connected for work or leisure all around the world. 6 And with eSIM, users can quickly and securely add a new plan, connect and transfer existing cellular plans digitally, and stay in touch with family and friends regardless of Wi-Fi availability — ideal for business travelers, students on campus, and anyone working on the go.

iPadOS 26 Supercharges the iPad Experience

iPadOS 26 offers powerful features that help users handle creative and professional tasks with ease, pushing the capabilities of iPad even further.

  • The beautiful new design is crafted with Liquid Glass, a translucent material that reflects and refracts its surroundings while reacting to users’ input, and dynamically transforming to bring greater focus to the content they care about most.
  • An entirely new, powerful, and intuitive windowing system helps users control, organize, and switch between apps, all while maintaining the simplicity of iPad. And with a new menu bar, users can access the commands available in an app with a simple swipe down from the top of the display, or by moving their cursor to the top.
  • Users can manage, access, and organize files with a supercharged Files app that features an updated List view and new folder customization options. With folders in the Dock, users can conveniently access downloads, documents, and more from anywhere. Additionally, they can set a default app for opening specific files or file types.

Advanced Accessories for iPad Air

From sketching ideas to getting work done, Apple Pencil and Magic Keyboard unlock new levels of creativity and productivity on iPad Air. 4 Apple Pencil (USB-C) and Apple Pencil Pro offer users two incredible options. Apple Pencil (USB-C) is a great value for essential tasks like note taking and sketching, and Apple Pencil Pro delivers the ultimate experience, enabling users to take advantage of capabilities such as squeeze and barrel roll to bring their ideas to life in entirely new ways. Apple Pencil Pro also supports Find My®, helping users locate it if misplaced.

Magic Keyboard for iPad Air provides an amazing typing experience and expands what users can do, with a built-in trackpad ideal for precision tasks like selecting text, and a 14-key function row that allows easy access to features like screen brightness and volume controls. It attaches magnetically, and the Smart Connector® immediately connects power and data without the need for Bluetooth; a machined aluminum hinge also includes a USB-C connector for charging. Magic Keyboard for iPad Air has a magical floating design customers love, and comes in black and white.

Ideal for iPad and iPad Air Upgraders

With game-changing improvements over iPad and earlier iPad Air models, there’s never been a better time to upgrade.

Big performance gains: Upgraders will enjoy enhanced speed and responsiveness with 12GB of unified memory and 120GB/s of memory bandwidth, and will experience even more seamless windowing in iPadOS 26. Users coming from iPad Air with M1 will see up to 2.3x faster performance, with over 4x faster 3D pro rendering with ray tracing performance. 5

Advanced Center Stage® camera, mics, and speakers: Users coming from iPad Air with M1 will also enjoy a front 12MP Center Stage camera located along the landscape edge, as well as landscape stereo speakers. For upgraders coming from M1, the 13-inch model delivers even better sound quality, which is great for enjoying music and videos.

Powerful Apple Intelligence capabilities: Built seamlessly into iPadOS with groundbreaking privacy, Apple Intelligence provides upgraders and new iPad users with intuitive features that make their experience even more helpful and powerful. 7

Even more value: Users coming from previous-generation iPad Air models will get faster connectivity with N1 and C1X, and M1 upgraders will also get 128GB of starting storage. iPad Air with M4 has the same starting price at just $599 for the 11-inch model, and $799 for the 13-inch model.

iPad Air and the Environment

Apple 2030 is the company’s ambitious plan to be carbon neutral across its entire footprint by the end of this decade by reducing product emissions from their three biggest sources: materials, electricity, and transportation. iPad Air is made with 30 percent recycled content, 8 including 100 percent recycled aluminum in the enclosure and 100 percent recycled cobalt in the battery. It is manufactured with 40 percent renewable electricity, like wind and solar, across the supply chain. iPad Air is designed to be durable and repairable, and also offers industry-leading software support, while meeting Apple’s high standards for energy efficiency and safe chemistry. The paper packaging is 100 percent fiber-based and can be easily recycled. 9

Pricing and Availability

  • The 11-inch and 13-inch iPad Air with M4 will be available in blue, purple, starlight, and space gray, with 128GB, 256GB, 512GB, and 1TB configurations.
  • The 11-inch iPad Air starts at $599 (U.S.) for the Wi-Fi model, and $749 (U.S.) for the Wi-Fi + Cellular model. The 13-inch iPad Air starts at $799 (U.S.) for the Wi-Fi model, and $949 (U.S.) for the Wi-Fi + Cellular model.
  • With education savings, the 11-inch iPad Air starts at $549 (U.S.), and the 13-inch iPad Air starts at $749 (U.S.).
  • Magic Keyboard, available in black and white, is compatible with the 11-inch and 13-inch iPad Air. The 11-inch Magic Keyboard is available for $269 (U.S.), and the 13-inch Magic Keyboard is available for $319 (U.S.). With education savings, the 11-inch Magic Keyboard is available for $249 (U.S.), and the 13-inch Magic Keyboard is available for $299 (U.S.).

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

1 Results are compared to 13-inch iPad Air (M3) units with 8-core CPU and 8GB of unified memory.

2 Results are compared to iPad Air (5th generation) units with 8-core CPU and 8GB of unified memory.

3 Wi-Fi 7 is available in countries and regions where supported.

4 Accessories sold separately.

5 Testing was conducted by Apple in January and February 2026. See apple.com/ipad-air for more information.

6 Data plan is required. 5G is available in select markets and through select carriers. Speeds vary based on site conditions and carrier. For details on 5G support, contact carrier and see apple.com/ipad/cellular .

7 Apple Intelligence is available in beta with support for these languages: English, Danish, Dutch, French, German, Italian, Norwegian, Portuguese, Spanish, Swedish, Turkish, Vietnamese, Chinese (simplified), Chinese (traditional), Japanese, and Korean. Some features may not be available in all regions or languages. For feature and language availability and system requirements, see support.apple.com/en-us/121115 .

8 Product recycled or renewable content is the mass of certified recycled material relative to the overall mass of the device, not including packaging or in-box accessories.

9 Breakdown of U.S. retail packaging by weight. Adhesives, inks, and coatings are excluded from Apple’s calculations.

NOTE TO EDITORS: For additional information visit Apple Newsroom ( www.apple.com/newsroom ), or email Apple’s Media Helpline at media.help@apple.com .

© 2026 Apple Inc. All rights reserved. Apple, the Apple logo, iPad Air, iPadOS, Apple Pencil Pro, Magic Keyboard, iPad, Apple Creator Studio, Pixelmator Pro, Final Cut Pro, AirDrop, Apple Pencil, Find My, Smart Connector, Apple Intelligence, Apple Store, AppleCare, AppleCare+, Apple Care One, Apple Card, and Daily Cash are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260302883514/en/

Press Contacts:
Skylar Eisenhart
Apple
s_eisenhart@apple.com

Tara Courtney
Apple
tcourtney@apple.com

News Provided by Business Wire via QuoteMedia

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Ontario Ranks Second Globally, Overtakes Saskatchewan in New Fraser Mining Survey

Investing 3 Mins Read

Ontario has overtaken Saskatchewan as Canada’s top-ranked mining jurisdiction and now sits second globally for investment attractiveness, according to the Fraser Institute’s latest Annual Survey of Mining Companies.

The 2025 survey, based on responses from 256 industry participants evaluating 68 jurisdictions, ranks Ontario 2nd worldwide on the Investment Attractiveness Index (IAI), a sharp rise from 15th place in 2024.

Saskatchewan follows closely in 3rd place, while Nevada reclaimed the top global position.

The Fraser Institute’s Investment Attractiveness Index combines two core components: the Policy Perception Index (PPI) and the Best Practices Mineral Potential Index. Survey respondents consistently indicate that roughly 60 percent of investment decisions are driven by mineral potential and 40 percent by policy considerations.

Ontario’s ascent signals renewed investor confidence and the province’s growing role in critical minerals development. Saskatchewan, long considered a global uranium powerhouse, has placed in the global top 10 six times in the past seven years.

Among Canadian jurisdictions, four provinces ranked in the PPI global top 10 this year: Alberta (3rd), Ontario (5th), Newfoundland & Labrador (7th), and Saskatchewan (8th). However, when combining policy and mineral potential into the overall IAI, only Ontario and Saskatchewan cracked the global top 10.

As with last year’s iteration, permit timelines remain a key differentiator. Ontario performed relatively well in the Fraser sub-survey on exploration permitting, with 33 percent of respondents indicating they were able to obtain permits in less than two months and 67 percent within six months.

Globally, Nevada ranked first on both the IAI and the Policy Perception Index, while Botswana climbed to second on policy metrics.

South Australia, Western Australia, Arizona, Norway, Sweden, and Saudi Arabia also placed in the global top 10 on overall investment attractiveness.

At the other end of the spectrum, China ranked last—68th out of 68 jurisdictions—on both investment attractiveness and policy perception. Burkina Faso, Egypt, and several African and Latin American jurisdictions also populated the bottom 10.

In a press release following the survey results, Toronto-based IsoEnergy (TSX:ISO) pointed to strong placements across jurisdictions where it operates.

“We are encouraged to see several jurisdictions within IsoEnergy’s portfolio once again rank among the global leaders in the Fraser Institute’s 2026 survey. Saskatchewan’s sustained top-tier performance, together with Western Australia’s meaningful advancement this year, reinforces the geological quality and policy stability that underpin our asset base and guide our M&A strategy,” said CEO and Director Philip Williams.

“These results affirm our disciplined focus on advancing high-quality projects in tier one jurisdictions where we believe institutional capital can be allocated with confidence and long-term value can be responsibly created.”

The survey, now in its 27th year, was distributed to more than 2,300 managers and executives globally, with participating companies reporting exploration spending of US$4.2 billion in 2025.

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

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Oil, LNG Prices Climb on Fears of Prolonged Hormuz Shutdown

Investing 3 Mins Read

Oil and gas prices surged Monday (March 2) after fresh military strikes between the US, Israel, and Iran rattled energy markets and brought shipping through the Strait of Hormuz close to a halt, raising fears of a wider supply shock.

Brent crude, the global oil benchmark, jumped as much as 10 percent to trade above US$82 per barrel before easing back toward US$79. US crude rose more than 6.5 percent, climbing nearly US$5 per barrel to around US$72.

Natural gas markets saw even sharper moves. European gas futures rocketed higher after QatarEnergy said it had suspended liquefied natural gas (LNG) production following what it described as “military attacks” on its facilities.

The company halted production after a drone targeted a facility in Ras Laffan Industrial City, according to Qatar’s Ministry of Defence. A separate drone reportedly struck a water tank at a power plant in Mesaieed. In Saudi Arabia, Aramco temporarily shut its Ras Tanura refinery after it was hit by a drone.

Tensions have centred on the Strait of Hormuz, the narrow waterway through which roughly 20 percent of the world’s oil and significant LNG volumes pass.

Shipping traffic through the strait has slowed dramatically.

The UK Maritime Trade Operations Centre reported that two vessels had been struck and that an “unknown projectile” exploded “in very close proximity” to a third. At least 150 tankers have reportedly dropped anchor beyond the strait, while major shipping companies paused or rerouted sailings.

‘Meanwhile, no LNG vessels have transited the Strait of Hormuz since Saturday, effectively cutting off around 20 percent of global LNG supply. Although there is no formal blockade, tankers remain anchored due to heightened security and insurance risks, intensifying supply concerns,’ an email from the Independent Commodity Intelligence Services (ICIS) noted.

Analysts say the disruption threatens around 120 billion cubic meters per year of LNG supply from Qatar and the UAE, volumes that are comparable to the gas Europe has lost from Russia since 2021.

Others warned that prices could climb much higher if the standoff persists. Some estimates suggest Brent could approach or exceed US$100 per barrel in the event of a prolonged closure.

OPEC+ spare capacity is largely located in the Gulf and would be difficult to access if shipping remains constrained. On Sunday (March 1), OPEC+ agreed to increase output by 206,000 barrels per day starting next month in an effort to cushion price rises.

However, any additional barrels would still need to transit through the region.

Gold, often viewed as a safe-haven asset during geopolitical turmoil, also rose by around 2 percent to US$5,378 per ounce.

Much now depends on whether energy infrastructure continues to be targeted and how long shipping disruptions persist.

“The jump in prices will feed through almost immediately because the oil traders are very much following the news too,” Robin Mills, chief executive of consultancy Qamar Energy, told BBC.

“At the moment, oil prices are not particularly high, they are still below where they were even two years ago so we’re not in full-blown oil crisis mode yet.”

The trajectory of prices, analysts say, will hinge on how much supply is ultimately disrupted, how long any other form of disruption lasts, and whether traffic through one of the world’s most critical energy chokepoints resumes in the coming days.

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

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Metro Mining

Investing 5 Mins Read

Investor Insight

Metro Mining is one of the few pure-play upstream bauxite companies globally listed on a stock exchange. As a direct exposure to the aluminum sector, Metro offers investors a unique opportunity to benefit from rising global demand driven by industrial applications and growth areas such as electrification, batteries, renewable energy, and lightweight transportation solutions.

Overview

Metro Mining (ASX:MMI) is a low-cost, high-grade Australian bauxite producer with its 100-percent-owned Bauxite Hills mine located 95 km north of Weipa on the Skardon River, Queensland. The mine forms part of a tenement package covering ~1,900 sq km.

Bauxite Hills Mine

As at 31 December 2024, Bauxite Hills contained 114.4 Mt of ore reserves, supporting an ~11-year mine life, with additional mineral resources extending mine life by roughly five years.

Following the infrastructure expansion commissioned in late 2023, the operation is ramping up production during 2025 and remains on track to deliver 6.5 to 7 WMtpa by year end. This positions Metro as one of the lowest-cost global bauxite producers.

The aluminum sector continues to see rising demand growth of around 3 to 4 percent annually, supported by EV manufacturing, renewable energy infrastructure, battery production and lightweight transportation. Market conditions have been strengthened by instability in Guinea, where government actions and weather disruptions have curtailed exports, creating supply uncertainty and reinforcing the importance of reliable Australian producers.

Company Highlights

  • Metro Mining’s flagship asset, the Bauxite Hills mine (BHM) in Skardon River, located 95 km north of Weipa in Cape York Peninsula Queensland, benefits from proximity to Asian markets, short haul distances, and a highly scalable, low-cost marine transportation system, ensuring industry-leading operating margins.
  • Production ramp-up continuing in 2025 following infrastructure expansion in late 2023. August 2025 shipments reached 753,101 WMT, up 6 percent year-on-year, with year-to-date production of 3.4 Mt, keeping the company on track for its 6.5 to 7 million WMT per annum CY2025 target.
  • Targeting a delivered bauxite cost below US$30 per dry ton CIF China, positioning the company firmly within the lowest quartile of global producers.
  • End of Q2 2025: Cash balance of AU$28.7 million, secured debt of US$56.6 million, and full-year hedged position at 0.63 US$:A$.
  • Ore reserves of 77.7 Mt underpinning ~11 years of mine life, with additional mineral resources providing ~five more years
  • Metro Mining maintains robust environmental and social governance, evidenced by receiving the Association of Mining and Exploration Companies’ 2024 Environment Award.

Key Project

Bauxite Hills Mine (Queensland, Australia)

Metro Mining’s flagship asset, the Bauxite Hills mine, is located on the Skardon River, about 95 kilometres north of Weipa in Queensland. The mine is underpinned by 114.4 Mt of ore reserves as at 31 December 2024, providing approximately 11 years of production, with further Mineral Resources extending mine life by around five years.

Bauxite Hills is a straightforward, low-cost DSO operation. The orebody requires no blasting, with only ~0.5 metres of overburden to remove, and short average haul distances of nine kilometres. Ore is screened to below 100 millimetres and hauled to the barge loading facility, where it is transported via tugs and barges to offshore transhippers for loading onto Capesize vessels bound for Asian markets. This efficient marine logistics chain enables Metro to remain in the lowest quartile of global cost producers.

Production continues to build steadily. In Q2 2025, the mine shipped a record 1.9 Mt, generating site EBITDA of AU$54 million and a margin of AU$32 per tonne. In August 2025, shipments reached 753,101 tonnes, a six percent increase from the prior year, with 3.4 Mt shipped year-to-date, putting the mine firmly on track to meet its 2025 target of 6.5 to 7 Mt.

Metro has established offtake agreements with leading global alumina and aluminum producers, including Chalco, Emirates Global Aluminium, Xinfa Aluminium and Shandong Lubei Chemical. To support growth beyond 2025, debottlenecking and optimisation studies are underway to enable potential expansion to 8 Mtpa beyond 2026.

The company is also advancing exploration in surrounding lateritic bauxite terraces. Drilling campaigns are planned across EPM 27611, EPM 16755, EPM 25879 and EPM 26982 during the second half of 2025, with approximately 150 holes scheduled.

In addition, Bauxite Hills hosts a significant kaolin deposit beneath the bauxite ore. Metro is progressing a feasibility study to assess extraction potential, market strategies and product testing, with applications in ceramics, paper, paints and industrial uses.

Management Team

Simon Wensley – CEO and Managing Director

Simon Wensley is a proven industry leader with extensive experience in mining operations and strategic growth. He spent 20 years at Rio Tinto in various operational, project and leadership roles across commodities, including iron ore, industrial minerals, bauxite, alumina, coal and uranium.

Douglas Ritchie – Non-Executive Chair

Douglas Ritchie brings more than 40 years’ experience in resources, previously holding senior leadership roles at Rio Tinto, including CEO of Rio Tinto Coal Australia, chief executive of the Energy Product Group, and group executive of strategy.

Nathan Quinlin – CFO

Nathan Quinlin is experienced in financial strategy and cost optimization, previously serving as finance and commercial manager at Glencore’s CSA mine, managing finance, risk management and life-of-mine planning.

Paul Green – Executive General Manager, Operations

Paul Green is a seasoned mining executive with 30 years of experience across surface and underground operations, contracting, and major project development. Beginning his career underground, he brings practical, “coal face” leadership to driving operational turnarounds, productivity gains, and safety excellence. He has held senior roles with Rio Tinto, BHP, Glencore, Anglo American, Idemitsu and ASX-listed Metarock, leading mine restarts, major expansions, operational transformations, and corporate restructurings.

Vincenzo De Falco – General Manager, Marine Supply & Logistics

With over 15 years of global experience in the shipping and maritime industry, including at IMC and Louis Dreyfus Armateurs, Vincenzo De Falco is leading the Metro Marine Team to manage BHM transhipping logistics, including new Floating Crane Terminal (Ikamba) as well as Tug Mandang.

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