PRE-OPEN
Futures are slightly in the red ahead of the crucial U.S. inflation data for January, releasing later in the day, which could influence the Federal Reserve’s policy decisions. The dollar index was flat. Meanwhile, European shares hit a record high, boosted by Heineken and other beverage makers. Japan’s Nikkei closed higher, backed by technology stocks. In commodities, oil snapped its three-day winning streak falling 1% on rising U.S. crude stockpiles and Fed Chair Jerome Powell’s hawkish comments, while gold eased from its record highs.
Canada, Mexico and the European Union condemned U.S. President Donald Trump’s decision to impose tariffs on all steel and aluminium imports next month, a move that has fanned fears of a trade war.
The Bank of Canada said it had appointed Michelle Alexopoulos as its second external deputy governor, expanding its rate-setting team to seven members.
Arras Minerals Corp. (TSXV: ARK)(OTCQB:ARRKF) announce the results from the final five holes from its initial “Phase 1” drill program targeting the 8.8 kilometre long Berezski target located on its Elemes project in Northeast Kazakhstan. The first 11 holes of the Phase 1 drill program encountered thick intercepts of widespread copper-gold and gold porphyry and/or epithermal-style mineralization.
The Elemes project is in the Bozshakol-Chingiz Magmatic arc and is 61 kilometres (“km”) southeast of Kaz Mineral’s Bozshakol Copper Mine, that commenced operations in 2016 and in 2023 produced 105,000 tonnes “t” of copper “Cu” & 115,000 oz gold “Au” at US$0.95/lb Cu (net) cash costs. Reported reserves are 1.003 billion tonnes @ 0.33% Cu & 0.13 g/t Au.
Highlights
EL24005: 547m of mineralization grading 0.70 % copper-equivalent (“CuEq”) (0.23% Cu & 0.48 g/t Au), starting from 14m depth; including:
44m grading 1.15% CuEq (0.48% Cu & 0.64 g/t Au) starting from 14m depth
206m grading 0.83 % CuEq (0.27% Cu & 0.54 g/t Au) starting from 24m depth
58m grading 1.02% CuEq (0.32 % Cu & 0.69 g/t Au) starting from 172m depth
The hole ended in strong mineralization grading 64.8m at 0.68 % CuEq (0.16% Cu & 0.55 g/t Au)
EL24006: returned 56m grading 0.68% CuEq (0.36% Cu & 0.33 g/t Au) starting from 4m depth, including:
20m grading 1.02%CuEq (0.72% Cu & 0.32 g/t Au) starting from 40m depth
EL24010: returned 152m grading 0.13 % CuEq (0.07% Cu & 0.06 g/t Au) starting from 262m depth
EL24011: returned 76m grading 0.20 % CuEq (0.06% Cu & 0.14 g/t Au) starting from 247m depth
Tim Barry, CEO of Arras Minerals, commented, “We are extremely encouraged by the results of the Phase 1 drill program at Elemes. Holes EL24005 and EL24006 strongly suggest the presence of another porphyry center developing at the Berezski target. Notably, the porphyry-style mineralization identified in quartz-chalcopyrite veining in the deeper sections of EL24005 provides a solid vector for us to pursue in the Phase 2 program. Furthermore, EL24006 intersected porphyry-style mineralization approximately 1 km to the west, on the western edge of the copper soil anomaly, giving us follow-up targets between the two holes, as well as to the west, north, and south-even beyond the current anomaly boundaries.“
He went on to add,“Over the last three field seasons, we’ve significantly advanced the Elemes-Aimandai licenses from an initial 530 sq km land package to identifying two major copper targets spanning nearly 9 km at Berezski, and 14 km at Aimandai. Our drilling this past year has confirmed at least two porphyry centers on the Berezski target, approximately 5 kms apart, with associated epithermal mineralization along the eastern boundary. With roughly 90% of the Berezski target still open and untested, the early success of Phase 1 gives us a strong foundation to hone in on two key areas, while continuing to develop additional high-priority targets across this large, highly prospective region.”
SOURCE: Arras Minerals Corp. View the original press release on ACCESS Newswire
Blusky Carbon Inc. (CSE: BSKY) closed a non-brokered private placement of secured debentures of the company at a price of $1,000 (U.S.) per debenture unit for gross proceeds to the company of $500,000 (U.S.).
The debentures will bear interest at a rate of 7 per cent per annum, calculated and payable monthly in cash, commencing Feb. 28, 2025, are subject to the terms of a debenture certificate, and are secured against the assets of the company. The company may elect to pay all or any portion of the interest in kind. The debentures will mature four months following the date of issuance and were issued to a single, arm’s-length purchaser. There were no finders’ fees or commissions payable in connection with the debenture offering.
The net proceeds received by the company from the debenture offering are intended to be used for the continuing development of the company’s business model and for general working capital purposes.
The company also announces its intention to complete a non-brokered private placement offering of units of the company at a price of 20 cents per unit, for gross proceeds of up to $300,000. Each unit will comprise one common share of the company and one common share purchase warrant, with each warrant exercisable for one common share at a price of 30 cents for a period of 24 months. The units and underlying securities will be subject to a hold period of four months and one day pursuant to applicable securities laws. The unit offering is expected to close on or about Feb. 18, 2025, and the proceeds thereof are intended to be used for general corporate and working capital purposes.
Finally, the company announces its intention to complete a non-brokered private placement of unsecured convertible debentures of the company at a price of $1,000 (U.S.) per convertible debenture unit for gross proceeds to the company of up to $750,000. The convertible debentures will bear interest at a rate of 12 per cent per annum, calculated and payable quarterly in arrears, commencing three months from closing, and mature 24 months following the date of issuance. The principal amount of each convertible debenture and any interest accrued thereon will be convertible into common shares at a conversion price of 24 cents per common share at the option of the holder of a convertible debenture at any time prior to the close of business on the maturity date. The net proceeds received by the company from the convertible debenture offering are intended to be used for general corporate and working capital purposes.
Greenfire Resources Ltd. (TSX: GFR) appointed Colin Germaniuk, PEng, as president and Adam Waterous as executive chairman of the company. Mr. Germaniuk will report directly to Mr. Waterous.
Mr. Germaniuk brings extensive experience in thermal oil operations to Greenfire. Prior to joining Greenfire, Mr. Germaniuk spent eight years at Serafina Energy Ltd., a private thermal oil company, where he was an early employee and a member of the executive management team. While at Serafina, he played a critical role in organically growing thermal oil production from zero to approximately 40,000 barrels per day. Serving as the vice-president of engineering and health, safety, and environment (HSE), and before then as the vice-president, subsurface, Mr. Germaniuk was accountable for drilling, completions, production and reservoir engineering, geology and geophysics, subsurface development, long-range plan forecasting, and corporate HSE functions. Mr. Germaniuk’s previous experience includes management roles at Connacher Oil and Gas Ltd. and Canadian Natural Resources Ltd., in each case focused on thermal oil operations.
Mr. Waterous, executive chairman, commented: “On behalf of the board of directors, I am delighted to welcome Colin as president of Greenfire. Colin is a proven leader with deep operational expertise in thermal oil production. His track record of driving safe, capital efficient and reliable operations makes him the right person to lead Greenfire’s next phase of growth.”
Mr. Germaniuk commented: “Greenfire has tremendous potential, and I’m excited to unlock value by driving operational excellence. I look forward to working with the team to optimize operations, reduce costs and maximize production.”
As part of this leadership transition, Robert Logan, president and chief executive officer, along with three senior vice-presidents — Kevin Millar (SVP, operations and steam chief), Albert Ma (SVP, engineering) and Crystal Park (SVP, commercial) — will be departing the company. Tony Kraljic and Jonathan Kanderka will continue in their roles as chief financial officer and chief operating officer of the company, respectively, and will report to Mr. Germaniuk.
About Greenfire Resources Ltd.
Greenfire is a junior Athabasca oil sands producer operating long-life, low-decline thermal assets. Greenfire plans to leverage its large resource base to drive meaningful, capital-efficient production growth. Greenfire common shares are listed on the New York Stock Exchange and Toronto Stock Exchange under the symbol GFR.
Ascendant Resources Inc. (TSX: ASND) announce closing of the first tranche (“First Tranche(TSX:ASND) (“Ascendant” or the “Company“) is pleased to announce closing of the first tranche (“First Tranche“) of the private placement (the “Placement“) previously announced on February 3, 2025 in connection with the arrangement agreement (the “Arrangement Agreement“) it entered into with Cerrado Gold Inc. (“Cerrado“), whereby Cerrado has agreed to acquire all of the issued and outstanding common shares of Ascendant (each an “Ascendant Share“) by way of a plan of arrangement (the “Arrangement“). Under the First Tranche, the Company has issued 45,047,617 Ascendant Shares at the price of C$0.0525 per Ascendant Share for gross proceeds of approximately C$2.365 million through a combination of cash and the satisfaction of outstanding debt. The Company is also pleased to announce that additional shareholders of Ascendant have entered into binding voting support agreements, pursuant to which they have agreed to vote their Ascendant Shares in favour of the Arrangement.
View the original press release on ACCESS Newswire
Barrick Gold Corp. (TSX: ABX) beat analysts’ estimates for fourth-quarter profit on higher gold prices and production. On an adjusted basis, the world’s second-largest gold miner posted a profit of 46 cents per share in the quarter ended December 31, compared with estimates of 41 cents per share. Gold production in the quarter came in at 1.08 million ounces, higher than 1.05 million ounces in the same quarter last year, due to its North America, Africa and Middle East operations meeting expectations. Barrick said its average realized gold prices rose to $2,657 per ounce in the fourth quarter from $1,986 per ounce last year. The company also announced a new share buyback program of $1 billion, scrapping its previous share buyback program that was in place from February 14, 2024.
BrandPilot AI Inc. (CSE: BPAI) a leading AI-powered marketing and advertising technology company, is pleased to announce that it has successfully secured two government grants, for a total of $150,000, through the CanExport and Mitacs programs. The funding from these programs will be strategically utilized to support BrandPilot AI’s key initiatives, including expanding into high-growth international markets, enhancing AI research and development, and strengthening partnerships with industry leaders and academic institutions.
The CanExport program, administered by the Government of Canada, provides financial support to Canadian businesses intending to expand globally. With this funding, BrandPilot AI will enhance its international business development initiatives, including partner engagement, and activities that raise the Company’s profile and global visibility, for instance through industry events.
Additionally, BrandPilot AI has been awarded funding through Mitacs, a national research organization that fosters innovation through industry-academic partnerships. The Mitacs grant will enable the company to advance its AI-driven advertising technologies by collaborating with leading researchers to refine and expand its capabilities in influencer marketing, programmatic media, and fraud detection.
“Being awarded these grants is testament to our commitment to innovation and global growth,” said Brandon Mina, CEO of BrandPilot AI. “We have identified certain very significant but underserved opportunities that the Mitacs grant will enable us to develop groundbreaking AI solutions for. This positions us to deliver outsized ROI to our clients, much as our existing offerings do. The CanExport grant enables us to scale up our international marketing efforts, and increase visibility & penetration towards establishing a meaningful position in these multi-billion dollar target markets.”
In addition to these grants, BrandPilot AI has submitted applications for three additional government funding programs, each valued in the seven-figure range. These grants, if awarded, will further support the company’s aggressive expansion strategy, fueling advancements in AI research, product development, and global market penetration. The company remains optimistic about these opportunities as it continues to drive innovation in AI-powered advertising technology.
To view the source version of this press release, please visit https://www.
C3 Metals Inc. (TSXV: CCCM) (OTCQB: CUAUF) announce that on February 10, 2025 it and certain subsidiary companies have entered into an Earn-In Agreement (“EIA”) with Freeport-McMoRan Exploration Corporation (“Freeport”), a wholly-owned affiliate of Freeport-McMoRan Inc. (NYSE: FCX) relating to C3 Metals’ 100%-owned Bellas Gate, Browns Hall and Arthurs Seat Special Exclusive Prospecting Licenses (the “Bellas Gate Project”) in Jamaica. The Bellas Gate Project is immediately adjacent to the east of C3 Metals’ and Geophysx Jamaica Limited’s 50/50 joint venture Super Block project (Figure 1). “US$” refers to United States dollars.
Under the terms of the EIA, Freeport has been granted a two-stage option to acquire up to a 75% ownership interest in the Bellas Gate Project by funding cumulative exploration and project related expenditures of US$75 million.
To view the source version of this press release, please visit https://www.
Eminent Gold Corp. (TSXV: EMNT) (OTCQB: EMGDF) announce that, pursuant to a purchase agreement (the “Purchase Agreement“) among the Company, Hot Springs Resources Corp., a wholly owned subsidiary of the Company (“Hot Springs“), Renaissance Exploration Inc., a wholly owned indirect subsidiary of Orogen Royalties Inc. (“Orogen“) and Altius Resources Inc. (“Altius” and, together with Orogen, the “Sellers“) previously announced on December 12, 2024, the Company has completed its acquisition of the Celts mineral property (the “Celts Project“) in Nevada, USA, from the Sellers for an aggregate purchase price of US$400,000 (the “Acquisition“). Following completion of the Acquisition, the Company holds a 100% interest in the Celts Project indirectly through Hot Springs, subject to the NSR Royalty (as defined herein).
Paul Sun, President and CEO of the Company commented:
“The acquisition of the Celts Project is a significant milestone for Eminent, due to its similarities to the recently discovered Silicon multimillion-ounce mining complex located approximately 100 km southeast. We are currently preparing a work program that includes a geophysical survey. Once complete, we will be ready to initiate a maiden drill program.
This timely acquisition supports our goal of building a large-scale gold exploration portfolio in Nevada, driven by new concepts and maiden drill programs, as gold prices reach record highs. Our current drilling at Hot Springs Range is advancing well, and we eagerly await the assay results from our second hole, which is crossing a key fault and has reached approximately 1,400 feet of an estimated 1,600-foot target.”
First Quantum Minerals Ltd: (TSX: FM) said the final hearing for the Cobre Panama mine under the International Chamber of Commerce proceedings has been moved to February 2026 from September of the current year. The Canadian miner also said the Government of Panama had applied to the arbitration panel, requesting an extension of its submission dates after the replacement of an external legal counsel and on the basis that the new government required time to assess the situation concerning the mine. The mine was shut down in November 2023 hours after Panama’s Supreme Court declared its contract unconstitutional. The decision to close down the mine was also triggered by environmental protests against the operation.
Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ0) announce that, further to its previous news releases posted on September 17, 2024, December 17, 2024 and January 17, 2025, it has entered into a formal agreement with Aion Mining Corp. (“Aion“) whereby the Company will acquire a further interest in Aion to bring the Company’s total interest to 60%, and the issuance of options.
Aion Acquisition
Pursuant to the formal agreement, the Company will acquire common shares of Aion in order to bring the total ownership of the Company to 60% of the post-issuance common shares of Aion, calculated on a fully-diluted basis. In consideration, the Company will pay an aggregate amount of $5,308,955.68 to Aion consisting of:
$2,808,955 in cash on closing; and
2,873,564 common shares of the Company at a deemed price of $0.87 per share, subject to CSE policies.
The Company will also be granted a right of first refusal for four years, allowing it to purchase common shares in Aion to offset any further issuances by Aion of securities to allow the Company to maintain its 60% interest.
Aion is a non-arm’s length party to the Company by reason of Cole McClay being a director of both companies and Camilo Cordovez Amador being a director of Aion and an officer of FRG. The terms of the formal agreement were reviewed and approved by a committee of the Company’s independent directors.
Completion of the transaction is subject to the receipt of all necessary approvals and consents on terms satisfactory to the parties, including any necessary approvals from the CSE. There are no assurance or guarantees that the proposed transaction will be completed, whether on the terms and conditions described above or at all. The Company will provide further updates as they become available.
The Company and Aion plans to use the proceeds of the transaction to further the development of its La Estrella Property and for general expenses and working capital.
PJ Murphy, CEO of Forge Resources States:“We are excited to announce the acquisition of an additional 20% of Aion Mining, increasing our stake to 60%. This milestone demonstrates our confidence in the fully permitted coal project, which is rapidly progressing towards underground development. The proceeds from this transaction will directly fund the necessary underground works that will help pave the path towards achieving our goal of generating revenue, furthering our commitment to growth and value creation for our shareholders.”
Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) and Global Uranium Corp. (CSE: GURN) (OTCQB: GURFF) (FSE: Q3J) announce that camp construction on the Northwest Athabasca Project has been initiated. In addition, plans are underway to conduct a Time Domain Electromagnetic Survey (TDEM) and Direct Current Resistivity and Induced Polarization (DCIP) Survey on its Spring Bay target located along the northwest shore of Lake Athabasca in Saskatchewan, Canada (Figures 1, 2). Geophysical work is expected to commence in March. Global has an option to earn 51% interest in Forum’s interest in the NWA Project by spending up to $9M over four years (see News Release dated May 30, 2024). Forum is the Operator of the Northwest Athabasca Project.
“The integration of historical geophysical datasets and legacy drill results gives us an advantage in identifying areas of high potential,” stated Ungad Chadda, CEO of Global Uranium. “We are pleased that the Forum exploration team’s knowledge and experience in Saskatchewan unconformity-style uranium deposits will shape the refined targeting strategy at the NWA Project, positioning us to unlock the site’s full value potential.”
Rick Mazur, CEO of Forum Energy Metals stated, “Forum is excited to be building a camp and working again on the Northwest Athabasca Project. Refinement of the drill targeting is key to success and the TDEM and DCIP surveys will improve drill target precision of the prospective Spring Bay area.”
To view the source version of this press release, please visit https://www.
Halcones Precious Metals Corp. (TSXV: HPM) announce additional results from the recent field program at the Polaris gold project, Chile (“Polaris” or the “Project”). Polaris is a large, highly prospective gold project that has never been drilled. No modern exploration has been carried out to date other than basic rock sampling and mapping. Surface bedrock sampling performed by Halcones’ geologists has extended the strike length of a trend of assay results, comprising more than 400 rock samples, many grading greater than 1g/t gold, to 3.9 km. This trend remains open for another 2km to the north and 1.5 km to the south before reaching property boundaries.
According to Ian Parkinson, CEO of Halcones, “It is exceedingly rare to see such an extensive and highly mineralized gold trend that has never been drilled. In more than ten years as a senior mining analyst for leading financial institutions, there is not a single project I have seen that shows such extensive mineralization in outcrops and no history of systematic exploration. We are very excited by the prospectivity of this project”.
Halcones’ geologists recent field work was focused on mapping and sampling a priority area within the North Zone (Figure 1) resulting in an expanded priority target. This area has consistently returned high grade results from surface sampling. Several highly prospective drill targets have been outlined through this sampling program in the North Zone (see Figure 2). Sampling completed by the Company has increased the gold mineralized footprint by approximately 210% from the area first observed by the optionors of the Project. Company geologists believe that the North and South Zones may merge into a single large gold anomaly, further increasing the potential of the Project. Sampling is limited in the area between the North and South Zone due to the presence of thin overburden cover. The next phase of exploration will focus on better defining the extension of the anomalous gold in this area to confirm the current geological interpretation of the field team. Additional sampling to explore and expand the anomaly to the north and east will also be done as part of the next stage of exploration. www.
Kalo Gold Corp. (TSXV: KALO) announce sampling results from its Vatu Aurum Project in Fiji, showcasing the discovery of an extensive epithermal gold system along the >2-kilometre (“km”) district scale exploration target – Namalau Trend located within Aurum Prime. These promising results reinforce the Vatu Aurum Project’s potential as a significant, district-scale gold target with geological hallmarks reminiscent of major Pacific Rim gold deposits.
Highlights:
Gold Values: Trench sampling along the Namalau Trend returned gold values up to 2.06 grams per tonne (g/t), confirming a fertile gold-bearing system across multiple upwelling zones (Dua, Rua, Tolu and Va) over 2 km.
Geological Textures: Presence of spheroidal silica sinters, opaline quartz, and bladed/agatized quartz textures mirrors those found in major Pacific Rim gold deposits such as Lihir (PNG) and Hauraki / Martha (NZ) 2.
Favourable Geochemical Signature: Soil results include critical epithermal system pathfinder elements selenium (up to 10.2 parts per million (ppm), mercury (up to 135.8 ppm), arsenic (up to 730.5 ppm), antimony (up to 100 ppm), thallium (up to 9.7 ppm), locally tellurium (up to 320 ppm) and bismuth (up to 25.6 ppm) that indicate the upper-level of an epithermal system with potentially active and long lived fluid pathways, pointing to intact mineralization at depth3.
Extensive Alteration Footprint: Widespread kaolinite (advanced argillic) and illite/smectite (argillic) alteration suggest proximity to hydrothermal conduits, reinforcing the potential for vertically extensive gold systems4.
“The Vatu Aurum Project is emerging as a standout exploration opportunity in the Pacific Rim. The scale, geological features, and geochemical indicators observed to date are remarkably similar to prolific gold deposits like the >7 Moz (produced to date) Vatukoula Mine in Fiji and >8 Moz (produced to date) Martha Mine, Waihi District in New Zealand. Our systematic exploration is revealing a district-scale system with the potential for significant gold mineralization at depth.” said Terry L. Tucker, P.Geo., President, and CEO of Kalo Gold Corp.
Exploration Details:
Following the Company’s 20 January 2025 release, an additional 29 rock samples from silicified ridges and breccias in the Namalau Trend were fire assayed with an ICP-MS finish at ALS Labs, Brisbane. Gold values ranged from trace amounts to 2.06 g/t accompanied by key pathfinder elements (Se, Hg, As, Sb, Tl, Te and Bi), confirmed the presence of an upper epithermal environment with potential high-grade gold zones at depth. For comparative purposes only, ‘high-grade’ refers to mineralization with gold values exceeding 5 g/t gold as observed in analagous epithermal systems such as the Martha Mine (New Zealand). Economic thresholds for Vatu Aurum will depend on drilling to determine the potential of these targets and confirm if there is continuity, grade, and economic potential of zones at depth.
Observed geological textures, including spheroidal silica sinters and opaline quartz, complemented by robust selenium, antimony, and arsenic anomalies, are typical of the Chalcedonic Superzone (CSz), the uppermost part of an epithermal system formed in low-temperature, near-surface conditions (<200°C). The CSz represents the paleo-surface or shallow boiling environment that can cap deeper zones where precious metals like gold and silver concentrate. These features are classic indicators of strong, vertically intact upwelling zones with long-lived, active fluid pathways-robust conduits transporting volatile-rich fluids that favor precious metal deposition.
View the original press release on ACCESS Newswire
Mkango Resources Ltd. (AIM/TSXV: MKA) informed that Robert Sewell, CFO of the Company, has purchased 450,000 common shares without par value (“Shares”) at a price of 11p per share on February 11, 2025.
Following the purchase of the Shares, Robert Sewell is the beneficial owner of 700,000 Shares in the Company, which represents 0.21% per cent. of the issued share capital and total voting rights of the Company.
About Mkango
Mkango is listed on the AIM and the TSX-V. Mkango’s corporate strategy is to become a market leader in the production of recycled rare earth magnets, alloys and oxides, through its interest in Maginito Limited (“Maginito”), which is owned 79.4 per cent by Mkango and 20.6 per cent by CoTec, and to develop new sustainable sources of neodymium, praseodymium, dysprosium and terbium to supply accelerating demand from electric vehicles, wind turbines and other clean energy technologies.
Maginito holds a 100 per cent interest in HyProMag and a 90 per cent direct and indirect interest (assuming conversion of Maginito’s convertible loan) in HyProMag GmbH, focused on short loop rare earth magnet recycling in the UK and Germany, respectively, and a 100 per cent interest in Mkango Rare Earths UK Ltd (“Mkango UK”), focused on long loop rare earth magnet recycling in the UK via a chemical route.
Maginito and CoTec are also rolling out HyProMag’s recycling technology into the United States via the 50/50 owned HyProMag USA LLC joint venture company.
Mkango also owns the advanced stage Songwe Hill rare earths project and an extensive rare earths, uranium, tantalum, niobium, rutile, nickel and cobalt exploration portfolio in Malawi, and the Pulawy rare earths separation project in Poland.
For more information, please visit www.mkango.ca.
Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) announce that it has issued 612,164 common shares of Myriad (each, a “Share”) to FirstAmerican Energy Fuels Ltd. (the “Optionor”) pursuant to a property option agreement dated as of January 30, 2025 (the “Option Agreement”) with First American Uranium Inc. (CSE: URM) (“First American”) and the Optionor respecting the Red Basin Uranium Project (the “Project”). The Project is comprised of 86 lode claims in the Red Basin area of the Datil Mountains – Pietown Uranium District, Catron County, New Mexico, USA, covering approximately 1,776 acres (approximately 719 hectares). (see Myriad’s news release dated February 4, 2025 respecting the Option Agreement and the Project).
The Shares were issued at a deemed price of approximately C$0.408 per Share, representing a value of C$250,000 according to a 10-day VWAP for the Shares contemplated by the Option Agreement. Pursuant to applicable securities laws, the Shares are subject to a four month hold period expiring June 12, 2025.
Myriad’s final obligation to exercise the option under the Option Agreement and earn a 100% interest in and to the Project is to conduct a geophysics survey on the Project by no later than January 30, 2026. Myriad will provide further updates respecting the Project in due course.
Newcore Gold Ltd. (TSXV: NCAU, OTCQX: NCAUF) announce that the Company and Paradigm Capital Inc., as lead agent and sole bookrunner, for and on behalf of a syndicate of agents (collectively, the “Agents”), have agreed to increase the size of its previously announced commercially reasonable efforts private placement offering from $12 million to $15 million (the “Offering”). Under the upsized Offering, up to 41,096,000 units of the Company (the “Units”) are to be issued at a price of $0.365 per Unit for gross proceeds of up to $15,000,040.
Each Unit will consist of one common share in the capital of the Company (each, a “Common Share”) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share of the Company at an exercise price of $0.50 per Common Share for a period of 12 months following the completion of the Offering.
The Company intends to use the net proceeds of the Offering to fund exploration and development activities at the Company’s 100% owned Enchi Gold Project in Ghana, as well as for general corporate and working capital purposes. www.newcoregold.com
Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG) announce recent high-grade results from La Lupe vein, part of La Ye vein system, at its 100%-owned Santa Ana high-grade silver project in Colombia. Step-out drilling has significally extended La Ye vein system footprint to over 500 metres along strike, with La Lupe vein – an integral part of the system – now confirmed for more than 200 metres along strike. This results reinforce the system’s scalability and high-grade potential.
“The discovery and extension of La Lupe vein within La Ye system is an exciting breakthrough for the Santa Ana project. With intercepts grading 1,233 grams per tonne silver equivalent, La Lupe vein not only confirms the high-grade potential of this system but also highlights the scalability of Santa Ana’s vein systems,” comments Guillermo Hernandez, Vice President of Exploration. “Extending the footprint of La Ye vein system to over 500 metres along strike is a testament to the project’s capacity to deliver transformative results. We are thrilled with the progress and confident in the untapped potential that remains within this prolific district.”
These results confirm that La Lupe vein, a newly discovered structure within La Ye vein system, is a significant contributor to the project’s expanding resource potential. Step-out drilling has now extended La Ye vein system to over 500 metres along strike, with La Lupe vein itself confirmed to over 200 metres along strike. Additionally, newly identified high-grade splays at depth further support the system’s potential for additional mineralization. Outcrop Silver’s systematic step-out drilling strategy at high-priority targets such as La Ye continues to deliver significant expansion of the Santa Ana project’s mineralized footprint. These results highlight Santa Ana’s potential for continued resource growth and reaffirm its position as a premier high-grade silver project.
Power Nickel Inc. (TSXV: PNPN) (OTCBB:PNPNF) (Frankfurt: IVV) announced that it has entered into an agreement with BMO Capital Markets and Hannam & Partners to act as joint bookrunners (together with a syndicate of agents, the “Agents”) in connection with a “best efforts” private placement offering by the Company of securities for aggregate proceeds of up to C$45 million, consisting of (i) up to C$37 million of Quebec flow-through shares (the “FT Shares”) and, (ii) up to C$8 million of hard dollar shares (the “HD Shares” and together with the FT Shares, the “Offered Securities”). The price of the Offered Securities will be determined in the context of the market.
The net proceeds received by the Company from the sale of HD Shares will be used by the Company for working capital and general corporate purposes.
The gross proceeds received by the Company from the sale of the FT Shares will be used to incur expenses described in paragraph (f) of the definition of “Canadian exploration expense” (“CEE”) in subsection 66.1(6) of the Tax Act and paragraph (c) of the definition of CEE in section 395 of the QTA, and will be renounced in favour of the relevant purchasers by no later than December 31, 2025, pursuant to the terms of the subscription and renunciation agreement to be entered into between the Company and such purchasers of FT Shares. Such expenses will also qualify as “flow-through mining expenditures” as defined in subsection 127(9) of the Tax Act for the purposes of the federal tax credit described in paragraph (a.2) of the definition of “investment tax credit” in subsection 127(9) of the Tax Act.
For purchasers of FT Shares resident in the Province of Québec, 10% of the amount of the CEE will be eligible for inclusion in the deductible “exploration base relating to certain Québec exploration expenses” and 10% of the amount of the CEE will be eligible for inclusion in the deductible “exploration base relating to certain Québec surface mining exploration expenses” (as such terms are defined in sections 726.4.10 and 726.4.17.2 of the QTA, respectively, for the purposes of the deductions described in section 726.4.9 and 726.4.17.1 of the QTA), giving rise to an additional 20% deduction for Québec tax purposes. In the event that the Company is unable to renounce CEE, effective on or prior to December 31, 2025, in favour of the purchasers of FT Shares in an aggregate amount not less than the gross proceeds raised from the issue of FT Shares, the Company will indemnify each purchaser of FT Shares for the additional taxes payable by such subscriber as a result of the Company’s failure to renounce the CEE as agreed.
Sol Strategies Inc. (CSE: HODL) (OTCQX: CYFRF) a publicly traded Canadian company dedicated to investing in and providing infrastructure for the Solana blockchain ecosystem, today announced its selection as staking provider for 3iQ Corp.’s (“3iQ”) Solana Staking ETF (the “Fund”). Sol Strategies’ non-binding Memorandum of Understanding (“MOU”) with 3iQ, a leader in digital asset investment solutions, is a major step forward in expanding institutional adoption of Solana staking.
Pursuant to the MOU, signed February 7, 2025, Sol Strategies agrees to invest the lesser of $15 million or 33.33% of total assets of the Fund on the Fund’s launch date, which must remain invested in the Fund for a minimum of three months.
“Sol Strategies’ institutional-grade infrastructure and proven track record in this ecosystem made them the clear choice,” said Pascal St-Jean, CEO and President at 3iQ. “Their compliance framework and validator performance align perfectly with our commitment to providing regulated, secure digital asset exposure to investors.”
This partnership with 3iQ comes at a time of tremendous momentum for Sol Strategies as it expands its institutional Solana staking. “Being selected as 3iQ’s staking partner validates our infrastructure and demonstrates the growing demand for regulated staking solutions,” said Leah Wald, CEO of Sol Strategies. “This partnership represents a pivotal moment for institutional Solana staking, allowing traditional investors to access staking rewards through a regulated investment vehicle.”
Recent growth highlights include:
Expansion to 1.64M SOL in total delegation across three validators
Increase in SOL holdings to 218,903 SOL, which is staked to the Company’s own validators, generating recurring revenue and further strengthening the Company’s staking capacity
Sol Strategies has successfully deployed two Firedancer validators, enhancing Solana’s performance, security, and decentralization while strengthening its staking operations. In addition, publishing its first technical blog post detailing how to expose the Firedancer interface securely, which anyone can view and watch the validator build blocks in real time. The Company has also upgraded to Jito 2.1, a huge upgrade which has greatly improved the speed of Solana
With $72M CAD in liquidity (as detailed in the latest MD&A, available on Sol Strategies’ Investor Pageand SEDAR+), Sol Strategies continues its systematic SOL accumulation and strategic expansion, reinforcing its staking operations and long-term growth
With institutional demand for Solana exposure growing, Sol Strategies continues to solidify its position as the leading publicly traded company focused on Solana, driving innovation and value creation for our shareholders.
To view the source version of this press release, please visit https://www.
InvestorTalk
Wednesday, February 12th, 9:00-9:20 AM EST with Charles Regan, CEO, and Director of Nerds On Site Inc. (CSE: NERD | OTCQB: NOSUF)
Join Zoom Meeting — click here
https://us02web.zoom.us/j/
ECONOMIC DATA
1100 LSEG IPSOS PCSI for Jan: Expected 45.47; Prior 45.47
Japan‘s Nikkei share average rose led by heavyweight technology stocks, but the gains were capped due to persistent worries about the U.S. tariff policy.
Oil prices edged down as an industry report showed an increase in U.S. crude stockpiles and tariff worries weighed on sentiment, though stronger refining margins limited the market’s downside.
S&P 500 Index Mini Futures: 6,085.75; down 0.11%; 6.5 points
DJIA Mini Futures: 44,674.00; down 0.08%; 34 points
Nikkei: 38,934.35; up 0.34%; 133.18 points
MSCI Asia, Ex-JP: 582.01; up 0.31%; 1.78 points
EUR/USD: $1.0359; down 0.03%; 0.0003 point
GBP/USD: $1.2446; down 0.00%; 0.0001 point
USD/JPY: 153.61 yen; up 0.73%; 1.12 points
Spot Gold: $2,886.13; down 0.42%; $12.21
U.S. Crude: $72.99; down 0.45%; $0.33
Brent Crude: $76.70; down 0.39%; $0.30
10-Yr U.S. Treasury Yield: 4.5475%; up 0.011 point
10-Yr Bund Yield: 2.4320%; up 0.002 point
| Metals | Price | Day | % | Weekly | Monthly | YTD | YoY | Date |
|---|---|---|---|---|---|---|---|---|
| Gold USD/t.oz | 2882.91 | 15.94 | -0.55% | 0.44% | 8.01% | 9.80% | 44.65% | 07:21 |
| Silver USD/t.oz | 31.764 | 0.07 | -0.22% | -1.76% | 7.02% | 9.91% | 43.80% | 07:21 |
| Copper USD/Lbs | 4.6066 | 0.0121 | 0.26% | 3.81% | 7.17% | 15.49% | 23.82% | 07:21 |
| Steel CNY/T | 3241.00 | 37.00 | 1.15% | -0.52% | 1.98% | -2.08% | -16.71% | Feb/12 |
| Iron Ore CNY CNY/T | 814.00 | 13.50 | -1.63% | 1.12% | 5.92% | 4.49% | -14.45% | Feb/11 |
| Lithium CNY/T | 76550 | 100 | -0.13% | -1.42% | 0.79% | 2.00% | -21.49% | Feb/12 |
| Platinum USD/t.oz | 1024.50 | 2.4 | -0.23% | 0.82% | 6.42% | 14.53% | 17.44% | 07:21 |
| Iron Ore USD/T | 106.32 | 0.65 | -0.61% | 0.87% | 7.70% | 2.62% | -17.50% | Feb/11 |
| Titanium CNY/KG | 45.50 | 0.00 | 0.00% | 0.00% | 2.25% | 2.25% | -13.33% | Feb/12 |
| HRC Steel USD/T | 759.07 | 0.93 | -0.12% | 2.30% | 7.67% | 7.06% | -4.64% | Feb/12 |
