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Streetwise Reports - Exclusive Articles https://www.streetwisereports.com/ Investment coverage from Streetwise Reports. copyright 2012, Streetwise, Inc. Mining Giant Announces Maiden 9.2Moz Resource at Snip North in BC https://www.streetwisereports.com/article/2026/04/16/mining-giant-announces-maiden-9-2moz-resource-at-snip-north-in-bc.html Source: <a href="https://www.streetwisereports.com/article/2026/04/16/mining-giant-announces-maiden-9-2moz-resource-at-snip-north-in-bc.html?utm_medium=feed">Streetwise Reports 04/16/2026</a> Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) announced an initial mineral resource estimate (MRE) for the Snip North deposit at its Iskut Project, now renamed as the Bronson Corridor Project, in the Golden Triangle Area of northwestern British Columbia.<a href="https://www.streetwisereports.com/pub/co/700?utm_medium=feed" target="_blank" rel="noopener">Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT)</a> announced its initial mineral resource estimate (MRE) for the Snip North deposit at its wholly-owned Iskut Project, now renamed as the Bronson Corridor Project, in the Golden Triangle Area of northwestern British Columbia, <a href="https://www.seabridgegold.com/press-release/seabridge-gold-reports-maiden-snip-north-resource-estimate-at-its-iskut-project-in-b-c-s-golden-triangle" target="_blank" rel="noopener">according to an April 15 release</a>. The company said the first inferred mineral resource for Snip North is substantial, comprising 9.2 million ounces (Moz) of gold, 28.3 Moz of silver, and 923 million pounds of copper, derived from 605.7 million tonnes at grades of 0.47 grams per tonne (g/t) gold, 0.07% copper, and 1.5 g/t silver. The resource is noted to be open in several directions, indicating potential for further expansion. "We are excited to have accomplished our goal of a robust maiden resource for Snip North," Seabridge Chair and Chief Executive Officer Rudi Fronk said. "This resource estimate reminds us of our first estimate at KSM nearly 20 years ago. Although it is not yet a material part of our total resource holdings, there remains considerable upside for expansion and discovery of the intrusive. Our team will soon be back on the ground to refine and improve our understanding of this mineral resource and use that understanding to continue exploring the project." Snip North is the second discovery within the newly named Bronson Corridor Project, with Bronson Slope being the other known deposit. The resources for Snip North were primarily defined through exploration diamond drilling conducted by the company from 2023 to 2025. The company said the geological features of the deposit suggest it is part of a significant magmatic-hydrothermal system associated with a Cu-Au porphyry system, although the source of this intrusion remains undiscovered. Currently, the MRE primarily encompasses altered sedimentary-volcanoclastic wall rock. <h2 style="text-align: center;">Nearly 30,000 Unique Assay Intervals</h2> The MRE is based on 58 verified diamond drill holes drilled between 2006 and 2025, including 47 by Seabridge and 11 by previous operators, the company said. These holes provided 27,935 unique assay intervals that were composited to 5-meter lengths. The estimation process involved evaluating initial composite assays through probability distribution and decile analysis to identify grade outliers, followed by the construction of 10x10x10 meter blocks with restricted outlier estimation. The block grades were estimated using multi-pass ordinary kriging based on variography analysis. The MRE is currently constrained by an open pit and a long hole open stope underground shape below the pit, although these mining shapes are preliminary and subject to further refinement based on environmental and development considerations. Additional drilling is anticipated, which could potentially shift the center of the deposit and influence future development plans and constraints. The Snip North deposit is primarily situated within sedimentary and volcanoclastic rocks from the Triassic Stuhini Group, according to the release. The metal grades within this deposit are dispersed across stockwork veins and replacements within calcareous interbeds. A notable feature of these rocks is their extensive and intensive potassic alteration, which is marked by the presence of biotite and K-feldspar. On the western side of the system, an alteration dominated by muscovite-quartz-pyrite is prevalent and, towards the central area of the zone, it overprints the potassic alteration. The boundaries of the north and south sides of the zone are characterized by fractured and sheared areas, which show minimal offset. Overall, the system exhibits a plunge towards the north-northwest. The estimation and geostatistical analysis were conducted by Wood Canada Limited, with Moose Mountain Technical Services providing mining constraints for the estimation and Tetra Tech Canada Inc. conducting metallurgical recovery testing and projections. All three entities are independent of Seabridge Gold. <h2 style="text-align: center;">KSM MRE Update</h2> <a href="https://www.streetwisereports.com/article/2026/03/31/gold-developer-uncovers-massive-6-8moz-resource-increase-in-british-columbia.html?utm_medium=feed" target="_blank" rel="noopener">Seabridge updated the Mineral Resource Estimates for its KSM Project</a> in northwestern British Columbia, as per a March 31 announcement. The revisions are based on new assumptions for metal prices and currency exchange rates, specifically setting gold at US$2,000 per ounce, copper at US$4.00 per pound, silver at US$25 per ounce, and molybdenum at US$22 per pound, with a currency exchange rate of US$0.746 per CA$1. This marks a significant shift from the previous decade's estimates, which were calculated using lower metal prices and a different exchange rate. The revised estimates indicate considerable increases in the project's resources. The Measured and Indicated Mineral Resources have grown by 6.8 million ounces of gold, 1.5 billion pounds of copper, 42.7 million ounces of silver, and 93 million pounds of molybdenum since the last update in January 2024. Additionally, the Inferred Mineral Resources have expanded to include an additional 12.9 million ounces of gold, 4.2 billion pounds of copper, 108.8 million ounces of silver, and 140 million pounds of molybdenum. Fronk explained at the time that these resource restatements were due to the application of updated metal price parameters and operating costs. He stated, "As we move towards a joint venture on KSM, our resource estimates' price assumptions are now consistent with most Tier 1 mining company disclosures." It is important to note, as per Seabridge's announcement, that the mineral resource model itself for KSM remains unchanged; the updates are solely attributable to the revised assumptions on metal prices and costs that affect the constraints on mineral resources and the calculation of cut-off grades. The updated mineral resource tabulation continues to utilize the same grade models from the KSM Preliminary Feasibility Study and Preliminary Economic Assessment, NI 43-101 Technical Report dated August 8, 2022. Seabridge has clarified that the adjustments to the Mineral Resources are not considered material to the KSM Project or to Seabridge, as they do not significantly alter the existing mineral reserves. <h2 style="text-align: center;">Analyst: Stock Heavily Undervalued</h2> In an April 13 research note, Stonegate Capital Partners Analyst Dave Storms noted that the company's valuation seems to significantly understate the worth of KSM and its extensive asset portfolio. This undervaluation persists even though several catalysts are expected to enhance value in the near term. One such catalyst is the advancement of the joint venture process for KSM, which is anticipated to be a significant re-rating event as the project moves towards partner-funded development, Storms said. Additionally, the planned spin-out of Courageous Lake into Valor Gold, expected in the second quarter of 2026, aims to reveal the standalone value of this asset, which is currently perceived as negligible. The company has also achieved crucial infrastructure and permitting milestones, securing permits for life and investing over US$500 million to date, Storms noted. KSM remains the central value driver for Seabridge, fully permitted and located in a Tier 1 jurisdiction, supported by significant infrastructure investments, the analyst said. The 2022 Preliminary Feasibility Study (PFS) projects a 33-year mine life with low costs and substantial copper by-product credits. Discussions are ongoing with a preferred joint venture partner, and an announcement could serve as a key catalyst to attract third-party capital, validate project economics, and enhance the company's stock value. The Courageous Lake project, another Tier 1 asset, holds 11.0 million ounces of measured and indicated gold resources with strong economics demonstrated in the 2024 PFS, the analyst said. The expected spin-out into Valor Gold in 2026 is designed to unlock value and offer shareholders direct exposure to a standalone development entity. The Bronson Corridor Project (formerly the Iskut Project) is viewed by company management as a potential "second KSM," offering long-term prospects, Storms wrote. "Seabridge is entering a period where multiple value realization paths are converging, including JV execution at KSM, the Courageous Lake spin-out, and new resource delineation at Iskut (Bronson)," he continued. "In our view, the current valuation does not fully reflect these catalysts or the scale and quality of the underlying asset base." According to the analyst, valuation metrics suggest a range of USD$67.09 to USD$75.99 based on EV/NAV and USD$68.43 to USD$89.17 based on EV/In-Situ, with respective midpoints of USD$71.54 and USD$78.80. A March 31 research note by Cantor Fitzgerald's Mike Kozak maintained the firm's Buy rating with a CA$66 per share target price, an 84% return at the time of writing. Its updated KSM MRE shows a 12% increase in total contained metal on a gold-equivalent basis compared to the previous MRE from 2024, Kozak said. The updated MRE was recalculated with higher metal prices, specifically US$2,000 per ounce for gold and US$4 per pound for copper, compared to the previous prices of US$1,300 per ounce for gold and US$3 per pound for copper. These revised price assumptions have resulted in lower cut-off grades and expanded the potential for both open-pit and underground block cave mining operations. Seabridge has noted that the revised metal price assumptions used in the updated MRE are now consistent with those employed by most Tier 1 mining companies, Kozak said. This alignment is crucial as Seabridge looks to secure a joint venture agreement with a Tier 1 mining company to further develop the KSM project. According to FactSet, at least two other analysts have issued Buy ratings for Seabridge, including price targets of US$65 from B. Riley Securities Analyst Nick Giles and US$71 per share from RBC Capital Markets Analyst Josh Wolfson. <h2 style="text-align: center;">The Catalyst: Market Transfixed on Peace Talks</h2> Gold prices experienced a slight increase on Thursday, continuing to benefit from the ongoing weakness in the U.S. dollar, as the market's attention remains fixed on the potential for further ceasefire talks between the U.S. and Iran, <a href="https://www.investing.com/news/commodities-news/gold-prices-rise-as-dollar-extends-losing-streak-iran-talks-in-focus-4617084" target="_blank" rel="noopener">reported Scott Kanowsky for Investing.com on April 16</a>. The precious metal maintained its position close to a near one-month high achieved on Wednesday, buoyed by hopes for an extended de-escalation in the conflict with Iran, which has helped to boost risk appetite and alleviate some concerns about inflation. By 09:29 a.m. ET, spot gold had risen by 0.5% to US$4,816.49 an ounce, and gold futures had increased by 0.3% to US$4,837.39 an ounce. The potential extension of the ceasefire between the U.S. and Iran is particularly significant, with both nations agreeing in principle to hold another round of talks following an initial discussion last weekend in Pakistan that did not immediately lead to a deal. According to the Wall Street Journal, which cited officials familiar with the situation, the specifics such as the time and venue of the next meeting have yet to be determined, and the current ceasefire is set to expire on April 21. In related developments, U.S. President Donald Trump mentioned that talks between Israel and Lebanon are scheduled for later today, although details were sparse and reports suggested that Lebanon might not have been informed about these discussions. Tensions in the Middle East continue, especially concerning the U.S. naval blockade of Iranian ports, which Iran has warned against continuing. Despite these frictions, oil prices have stabilized below US$100 a barrel but remain significantly higher than pre-war levels. The surge in oil prices earlier in the year, which reached approximately US$120 a barrel following the outbreak of the war in late February, had heightened global inflation fears and increased speculation that central banks, including the U.S. Federal Reserve, might raise interest rates. This speculation had initially diminished the appeal of non-yielding assets like gold. However, the recent optimism surrounding peace negotiations has tempered these expectations, contributing to a 0.9% increase in spot gold over the past week. Additionally, the softening of the U.S. dollar, previously bolstered by its perceived insulation from disruptions in oil supply through the Strait of Hormuz, has made gold more attractive to international buyers. The gold market may continue to experience subdued safe-haven demand as recent data from the Philadelphia Federal Reserve indicates robust manufacturing activity in its region, which has helped to alleviate concerns about a potential recession, <a href="https://www.kitco.com/news/article/2026-04-16/golds-safe-haven-appeal-weakening-philly-fed-survey-jumps-april" target="_blank" rel="noopener">Neils Christensen wrote for Kitco News on April 16</a>. The regional central bank's April Manufacturing Business Outlook Survey showed a significant increase in its index to 26.7 from March's 18.1, surpassing expectations where economists had anticipated a reading of just 10.3. According to the report, manufacturing activity in the region has continued to grow, with indicators for general activity, new orders, and shipments all showing increases this month. However, the survey also highlighted some challenges, particularly in the labor market. The employment index declined and entered negative territory, indicating a reduction in employment levels.[OWNERSHIP_CHART-700] Despite a recent rise in gold prices above US$4,800 an ounce, the market has not witnessed significant follow-through buying. Spot gold was last recorded trading at US$4,815.90 an ounce, marking a 0.5% increase for the day. Detailed components of the report revealed that the new orders index surged to 33.0 from a previous 8.6, and the shipments index increased to 34.0 from 22.2 in March. Nonetheless, the labor market's difficulties were underscored by the number of employees index, which dropped to -5.1 from a positive 0.8 in March. Additionally, the report indicated rising inflation pressures, with the prices index escalating to 59.3 from 44.7, according to Christensen. This uptick suggests that while manufacturing activity is robust, it is also contributing to heightened inflationary concerns. <h2 style="text-align: center;">Ownership and Share Structure1</h2> Management and insiders hold approximately 3% of the company, while institutions own about 62%. The remainder is held by retail investors. Friedberg Mercantile Group Ltd. holds 15.49%, Pan Atlantic Bank and Trust owns 10.23%, Van Eck Associates Corp. has 6.86%, and Kopernik Global Investors L.L.C. possesses 6.69%. There are around 104.35 million shares outstanding, with the company having a market cap of CA$4.46 billion and trading within a 52-week range of CA$15.56 to CA$54.29. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Seabrodge Gold Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.</li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Seabridge Gold Inc.</li> <li>Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30981"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30981" width="0" height="0"> ( Companies Mentioned: SEA:TSX; SA:NYSE.MKT, ) SEA:TSX; SA:NYSE.MKT Thu, 16 Apr 2026 00:00:00 PST The Switzerland of South America: A Look at Sun Valley Minerals and Uruguay https://www.streetwisereports.com/article/2026/04/16/the-switzerland-of-south-america-a-look-at-sun-valley-minerals-and-uruguay.html Source: <a href="https://www.streetwisereports.com/article/2026/04/16/the-switzerland-of-south-america-a-look-at-sun-valley-minerals-and-uruguay.html?utm_medium=feed">Brian Leni 04/16/2026</a> After a recent site visit, Brian Leni of Junior Stock Review shares his thoughts on Sun Valley Minerals, a private company soon to be public, and one he believes will " trade hot out of the gate." Site visits remain a crucial part of my investment process. There's nothing like being on the ground at a project, meeting management, and connecting with fellow investors and analysts. My recent trip to Uruguay was particularly rewarding. Not only did I visit Sun Valley Minerals' Taruman gold project, but I also experienced why Uruguay is often called the Switzerland of South America. This comparison holds up well. Uruguay is a low-tax jurisdiction with a flat 12% capital gains tax, income tax ranging from 0% to 36%, and a 25% corporate tax rate. Politically, it's remarkably stable. In over 10 years covering South American news, I've seen little drama coming out of Uruguay compared to neighbors like Brazil, Chile, Peru, and Ecuador. The culture also stands out. Uruguay feels conscientious, reflected in how clean and safe the country is. Driving from Montevideo through Minas to the Taruman project, I saw almost no litter - the streets in Montevideo and Punta del Este were spotless. In contrast to experiences in Brazil and Argentina, I felt comfortable walking anywhere, and this sense of order and safety bodes well for the country's long-term success. On the mining side, Uruguay's mining claim system resembles Japan's—deliberate and paperwork-heavy, with permits issued progressively for prospecting and exploration. A key consideration is the 5% metallic mineral royalty on future production: 3% to the government and 2% to the direct landowner. Owning the surface rights eliminates that 2% overhang, making early land agreements highly advantageous. Sun Valley has a dedicated community communications representative handling both general outreach and land acquisition discussions, making this proactive approach a smart strategy ahead of any discovery. While the 5% royalty is on the higher side (Guyana, for example, can reach 8%), I'm confident a mine can be built in Uruguay. Sun Valley has successfully navigated permitting processes and secured strong local support. With gold prices elevated, a new operation would likely be welcomed. <h2 style="text-align: center;">Infrastructure Advantages</h2> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202641661839_1.jpg" alt="" width="410" height="307" /> Uruguay offers excellent infrastructure for the Taruman project. From Toronto, it's about 13 hours via Panama to Montevideo's modern airport, with quick customs, and the project is reachable in 2.5 hours via a clean paved highway. The landscape shifts from a flat landscape near the capital to rolling hills—beautiful cattle and forestry country. Power is largely hydroelectric—reliable, clean, and cheap—while labor is accessible from Montevideo (2.5 hours), Punta del Este (1.5 hours), and nearby towns. Proximity to the coast and ports is another plus for future operations. <h2 style="text-align: center;">The Taruman Gold Project</h2> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202641661912_2.jpg" alt="" width="403" height="302" /> Sun Valley's Taruman project spans over 100 km and features three priority target areas: Taruman Main, Plumas Doradas, and Keana. The terrain is grass- and tree-covered with some rocky outcrops. Cattle ranching and forestry dominate locally and are compatible with exploration. Targets were developed through stream sediment sampling, extensive soil grids, trenching, and geophysics, which means there's substantial data backing drill decisions. <h3 style="text-align: center;">Taruman Main Zone</h3> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202641661946_3.png" alt="" width="435" height="253" /> This is the most advanced target with the strongest historical work from B2Gold in 2012. Notable trenches included 88.6m of 2.45 g/t gold, 60.5m of 2.22 g/t (including 21.5m of 4.35 g/t), and 39.3m of 2.97 g/t gold. Drill results, while solid, were not spectacular by 2012 standards when gold traded much lower: 25.2m of 5.39 g/t, 37.6m of 1.3 g/t, 25.6m of 1.79 g/t, and 27.35m of 1.21 g/t gold. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202641662008_4.png" alt="" width="460" height="313" /> On-site, it's clear B2Gold missed parts of the system. Mineralization includes both sediment replacement and vein-hosted styles. Drill orientations likely didn't optimally intersect both, and Sun Valley's team plans to adjust drill directions accordingly. Additionally, holes may not have gone deep enough. Surface high grades suggest a possible magmatic feeder—potentially a porphyry source. Before drilling in the second half of this year, Sun Valley will run an AMT survey to identify deep resistive/conductive zones typical of porphyry systems, similar to Newmont Corp.'s (NEM:NYSE; NGT:TSX; NEM:ASX) Cadia. The geology is complex but highly prospective, making Taruman Main the initial drill focus. <h3 style="text-align: center;">Plumas Doradas</h3> <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/202641662035_5.png" alt="" width="506" height="248" /> Located north of Taruman Main, Plumas was identified via stream sediments and soil sampling. B2Gold Corp. (BTG:NYSE; BTO:TSX; B2G:NSX) drilled seven holes totaling 1,500 meters, with highlights of 6.4m of 3.63 g/t, 4.10m of 10.78 g/t, and 4.55m of 3.74 g/t gold. Like Taruman Main, drill orientation appears to have missed the core of the system. A roadside quarry exposed very high-grade material, from which I collected a visible gold sample. Geology here is less complex than at Taruman Main, positioning Plumas as the likely second target. <h2 style="text-align: center;">The Strength of the Team</h2> Sun Valley's greatest asset is its people. CEO Christo Stemmet, a geologist and former Boswell Capital employee, has positioned the company exceptionally well. His partners include Country Manager Matias Eguia and VP Exploration Laubser Pepler, who brings West African gold experience and expertise in covered terrains. Strategic advisors add significant value: David Underwood (ex-Osino), plus Uruguay specialists Dean Williams, Alejandro Schipilov, Mike Schwabe (co-founder of Uruguay Goldfields), and Felipe Paullier. Many reside in-country, providing deep local geological knowledge. The company also has backing from quality names like Kinross Gold Corp. (K:TSX; KGC:NYSE), Altius Minerals Corp. (ALS:TSX), and the Gignac family, who don't invest lightly. <h2 style="text-align: center;">Going Public</h2> While in Uruguay, Sun Valley closed a $10.3 million financing at $0.75 per share (I participated), and the book was oversubscribed. The raised funds will be spent on the drill bit and to meet listing requirements. Post-financing: MCAP approximately $61.3M, 81.77 million shares outstanding, no warrants, 6 million options. Cash position around $18M. Ownership includes strategics/board/management/advisors at 17.2%, Kinross 14.9%, Altius 7.7%, Life of Mine (Gignac) 4.1%, institutions 8.25%, and HNWI/other 47.8%. This is a tight share structure that will reward success. Given the pedigree of the targets, the management and share roster I fully expect to see Sun Valley trade hot out of the gate. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of B2 Gold and Altius. </li> <li>Brian Leni: I, or members of my immediate household or family, own securities of: Sun Valley Minerals. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.</li> <li>Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. </li> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a><img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30978"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30978" width="0" height="0"> ( Companies Mentioned: ) Thu, 16 Apr 2026 00:00:00 PST CarMax Targets Costs as Used Car Prices and Loan Income Face Pressure in 2027 https://www.streetwisereports.com/article/2026/04/16/carmax-targets-costs-as-used-car-prices-and-loan-income-face-pressure-in-2027.html Source: <a href="https://www.streetwisereports.com/article/2026/04/16/carmax-targets-costs-as-used-car-prices-and-loan-income-face-pressure-in-2027.html?utm_medium=feed">Steven Shemesh 04/16/2026</a> RBC Capital Markets reviewed CarMax's F4Q'26 results, highlighting an expanded US$200M SG&A reduction target, retail GPU compression heading into FY2027, and declining CAF income.On April 14, 2026, RBC Capital Markets analyst Steven Shemesh published a review of Carmax Inc. (KMX:NYSE), following the company's fiscal fourth-quarter 2026 earnings. Shemesh maintained a Sector Perform rating and raised his 12-month price target to US$41 from US$37, based on approximately 15x his FY2028 adjusted EPS estimate of US$2.73. With the stock priced at US$41.66, the price target implies a modest downside of approximately 2%. While the analyst described Q4 results as "largely in line" with his model and expressed encouragement at top-line progress, he remained cautious on the sustainability of recent industry momentum in the face of rising gas prices and eroding consumer confidence. <h2 style="text-align: center;">Recent Significant Developments</h2> CarMax management raised its SG&A cost-reduction commitment from US$150M to US$200M as an exit-rate target by the end of FY2027, citing additional efficiencies identified within the business. The company is exiting FY2026, having already achieved US$100M in savings. However, Shemesh noted that year-over-year SG&A savings within FY2027 are expected to be offset as the business annualizes over reduced corporate bonuses and stock-based compensation, inflationary pressures, and new store growth. Management also announced the pausing of share repurchases to focus on improving the business, despite a remaining buyback authorization of US$1.31B. In Q4, CarMax repurchased 1.3M shares for US$50M. On the strategic front, KMX plans to open four new stores in FY2027, along with two new off-site reconditioning and auction locations and two additional off-site auction locations. Capital expenditure is expected to be approximately US$400M in FY2027, with the majority directed toward land acquisition and facility build-outs for long-term growth capacity in reconditioning and auctions. Management also announced a plan to transition its SG&A efficiency metric to a per-total-unit ratio encompassing both retail and wholesale units. <h2 style="text-align: center;">Financial Results & Key Metrics</h2> Q4 FY2026 total company revenue came in at US$5.946B, ahead of RBC's prior estimate of US$5.741B. Used vehicle retail comp units declined 1.9% year-over-year, meaningfully better than the consensus estimate of -4.0% and a notable acceleration from Q2's -6.3% and Q3's -9.0%. Management attributed the improvement to a combination of lower gross profit per unit (GPU), increased acquisition marketing spend, and enhancements to KMX's online selling capabilities. Retail GPUs declined 8.9% year-over-year to US$2,115 in Q4 (versus US$2,321 in the prior-year period), reflecting management's deliberate strategy to become more price competitive. For FY2027, management guided for retail GPU declines broadly in line with Q4's pace, with Q1 FY2027 expected to see the largest year-over-year decline of approximately US$300 per unit, implying roughly a 13% decline. CarMax Auto Finance (CAF) income declined 9.8% year-over-year to US$143.7M, falling slightly short of the consensus estimate of US$148M. The decrease was primarily attributed to a reduced held-for-investment receivable base following the US$900M 2025-B non-prime securitization transaction executed in the prior quarter, as well as lower origination dollars in recent years. Credit losses were in line with expectations. KMX gained approximately US$5M in servicing fees related to the closing of the 2025-B deal, with fees expected to continue proportionally over the remaining life of the transaction. Management also guided for material CAF penetration growth over the next several quarters toward approximately 50%, driven by focus on tier 2 lending supported by a flexible funding strategy and new underwriting models. On a reported GAAP basis, EPS this quarter was impacted by a non-cash goodwill impairment charge of US$0.99 per share — driven by a decline in market capitalization coinciding with a prescriptive impairment measurement period and pressured finance performance — and restructuring charges of US$0.20 per share related to corporate workforce reductions and the early abandonment of underutilized space associated with the Edmunds office. <h2 style="text-align: center;">Analyst Outlook & Estimate Changes</h2> For Q1 FY2027, Shemesh slightly raised his retail comp units estimate to -2% (from -3% prior) and his total company net sales estimate to -3% (from -4.9% prior), while trimming his adjusted EPS estimate to US$1.01 from US$1.16, reflecting more conservative GPU and CAF assumptions. For the full FY2027, he now models retail comp units of +1.0% (versus -1.7% prior), with total company net sales revised to -0.6% and adjusted EPS of US$2.35 (versus US$2.43 prior). The analyst introduced FY2028 estimates calling for total company net sales growth of +4.3% and adjusted EPS of US$2.73. Shemesh noted a positive near-term data point, with management indicating that the broader industry had looked healthy coming out of March, supported by a strong tax season. However, he flagged caution around the durability of this trend given the macroeconomic backdrop. <h2 style="text-align: center;">Valuation</h2> The US$41 price target is based on a ~15x P/E multiple applied to the FY2028 adjusted EPS estimate of US$2.73, which assumes a 2026-to-2028 net revenue growth CAGR of 1.8%, operating margins of 2.1%-2.2%, and a 4% reduction in share count from buybacks. The 15x target multiple is slightly below the company's five-year median. The upside scenario of US$59 applies a 17x multiple to an upside FY2028 EPS estimate of US$3.49, based on a revenue CAGR of 5.4% and higher operating margins, reflecting a faster-than-expected recovery in consumer demand for used cars. The downside scenario of US$29 applies a 14x multiple to a downside FY2028 EPS estimate of US$2.06, based on a revenue CAGR of -1.0% and compressed margins, reflecting a scenario in which consumer demand recovers more slowly than anticipated, pressuring average selling prices. <h2 style="text-align: center;">Risks & Challenges</h2> Key risks to the rating and price target include further deterioration in consumer spending trends, increased competition within the used-vehicle retailing industry, failure of the company's omni-channel rollout to gain traction in certain markets, further constraints on used vehicle supply, and any tightening in auto lending standards that could pressure unit sales growth. <h2 style="text-align: center;">Investment Summary</h2> Despite a difficult near-term macro setup, Shemesh views CarMax as well-positioned to continue gaining share in the highly fragmented used car market over the long term. With approximately 40 million used cars changing hands annually, KMX holds roughly 4% of the overall market, up from 3.5% in 2020. The company's established omni-channel capabilities, focus on older vehicles, and strong cash flow generation underpin his constructive long-term view. With the stock trading at US$41.66 and a price target of US$41, the implied return is approximately -2%, consistent with a Sector Perform rating. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> Disclosures for RBC Capital Markets, Carmax Inc., April 14, 2026 Conflicts disclosures The analyst(s) responsible for preparing this research report received compensation that is based upon various factors, including total revenues of the member companies of RBC Capital Markets and its affiliates, a portion of which are or have been generated by investment banking activities of the member companies of RBC Capital Markets and its affiliates. With regard to the MAR investment recommendation requirements in relation to relevant securities, a member company of Royal Bank of Canada, together with its affiliates, may have a net long or short financial interest in excess of 0.5% of the total issued share capital of the entities mentioned in the investment recommendation. Information relating to this is available upon request from your RBC investment advisor or institutional salesperson. Please note that current conflicts disclosures may differ from those as of the publication date on, and as set forth in, this report. To access current conflicts disclosures, clients should refer to https://www.rbccm.com/GLDisclosure/PublicWeb/ DisclosureLookup.aspx?entityId=1 or send a request to RBC CM Research Publishing, P.O. Box 50, 200 Bay Street, Royal Bank Plaza, 29th Floor, South Tower, Toronto, Ontario M5J 2W7. A member company of RBC Capital Markets or one of its affiliates expects to receive or intends to seek compensation for investment banking services from CarMax, Inc. in the next three months. A member company of RBC Capital Markets or one of its affiliates received compensation for investment banking services from CarMax, Inc. in the past 12 months. RBC Capital Markets has provided CarMax, Inc. with non-securities services in the past 12 months. RBC Capital Markets, LLC makes a market in the securities of CarMax, Inc.. A member company of RBC Capital Markets or one of its affiliates received compensation for products or services other than investment banking services from CarMax, Inc. during the past 12 months. During this time, a member company of RBC Capital Markets or one of its affiliates provided non-securities services to CarMax, Inc.. A member company of RBC Capital Markets or one of its affiliates managed or co-managed a public offering of securities for CarMax, Inc. in the past 12 months. Explanation of RBC Capital Markets Equity rating system An analyst's 'sector' is the universe of companies for which the analyst provides research coverage. Accordingly, the rating assigned to a particular stock represents solely the analyst's view of how that stock will perform over the next 12 months relative to the analyst's sector average. Ratings Outperform (O): Expected to materially outperform sector average over 12 months. Sector Perform (SP): Returns expected to be in line with sector average over 12 months. Underperform (U): Returns expected to be materially below sector average over 12 months. Restricted (R): RBC policy precludes certain types of communications, including an investment recommendation, when RBC is acting as an advisor in certain merger or other strategic transactions and in certain other circumstances. 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Although RBC Capital Markets' ratings of Outperform (O), Sector Perform (SP), and Underperform (U) most closely correspond to Buy, Hold/Neutral and Sell, respectively, the meanings are not the same because our ratings are determined on a relative basis. Distribution of ratings RBC Capital Markets, Equity Research As of 31-Mar-2026 Investment Banking Serv./Past 12 Mos. Rating Count Percent Count Percent BUY [Outperform] 899 57.52 286 31.81 HOLD [Sector Perform] 612 39.16 153 25.00 SELL [Underperform] 52 3.33 5 9.62 Rating and price target history for: CarMax, Inc., KMX US as of 13-Apr-2026 (in USD) 100 90 80 70 60 50 40 30 Q1 Q2 Q3 2024 Q1 Q2 Q3 2025 Q1 Q2 Q3 2026 Q1 Q2 12-Apr-2023 Rtg:O Target: 70.00 26-Jun-2023 Rtg:O Target: 90.00 29-Sep-2023 Rtg:O Target: 80.00 22-Dec-2023 Rtg:O Target: 83.00 12-Apr-2024 Rtg:O Target: 73.00 21-Jun-2024 Rtg:O Target: 75.00 27-Sep-2024 Rtg:O Target: 82.00 09-Dec-2024 Rtg:O Target: 99.00 20-Dec-2024 Rtg:O Target: 103.00 11-Apr-2025 Rtg:O Target: 80.00 20-Jun-2025 Rtg:O Target: 81.00 25-Sep-2025 Rtg:O Target: 59.00 07-Nov-2025 Rtg:SP Target: 34.00 18-Dec-2025 Rtg:SP Target: 37.00 Legend: O: Outperform; SP: Sector Perform; U: Underperform; R: Restricted; I: Initiation of Research Coverage; D: Discontinuation of Research Coverage; NR: Not Rated; NA: Not Available; RL: Recommended List - RL: On: Refers to date a security was placed on a recommended list, while RL Off: Refers to date a security was removed from a recommended list; Rtg: Rating. Created by: BlueMatrix References to a Recommended List in the recommendation history chart may include one or more recommended lists or model portfolios maintained by RBC Wealth Management or one of its affiliates. RBC Wealth Management recommended lists include the Guided Portfolio: Prime Income (RL 6), the Guided Portfolio: Dividend Growth (RL 8), the Guided Portfolio: ADR (RL 10), and the Guided Portfolio: All Cap Growth (RL 12). The abbreviation 'RL On' means the date a security was placed on a Recommended List. The abbreviation 'RL Off' means the date a security was removed from a Recommended List. As of April 3, 2023, U.S. RBC Wealth Management's quarterly reports will serve as the primary communication for its models and will highlight any changes to the model made during the quarter. Equity valuation and risks For valuation methods used to determine, and risks that may impede achievement of, price targets for covered companies, please see the most recent company-specific research report at www.rbcinsightresearch.com or send a request to RBC Capital Markets Research Publishing, P.O. Box 50, 200 Bay Street, Royal Bank Plaza, 29th Floor, South Tower, Toronto, Ontario M5J 2W7. CarMax, Inc. Valuation Our price target of $41 is based on applying a ~15x P/E multiple to our FY’28 EPS estimate of $2.73. Our FY’28 EPS estimate is based on a 2026E/2028E net revenue growth CAGR of 1.8%, 2.1%/2.2% operating margin, and a 4% reduction in share count as a result of buybacks. Our 15x target multiple is slightly below the company’s 5-year median. Our price target and implied return support our Sector Perform rating. Risks to rating and price target We believe our price target and rating could be at risk if overall consumer spending trends decline further or competition within the used-vehicle retailing industry increases. We also believe our price target and rating could be at risk if the company’s omnichannel rollout fails to gain traction in certain markets, used vehicle supplies become further constrained, or additional Covid-19 variants are worse than expected. Additionally, any tightening in auto lending standards could pressure growth in unit sales. Conflicts policy RBC Capital Markets Policy for Managing Conflicts of Interest in Relation to Investment Research is available from us on request. To access our current policy, clients should refer to https://www.rbccm.com/global/file-414164.pdf or send a request to RBC Capital Markets Research Publishing, P.O. Box 50, 200 Bay Street, Royal Bank Plaza, 29th Floor, South Tower, Toronto, Ontario M5J 2W7. 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RBC Capital Markets is a trademark of Royal Bank of Canada. Used under license. Copyright © RBC Capital Markets, LLC 2026 - Member SIPC Copyright © RBC Dominion Securities Inc. 2026 - Member Canadian Investor Protection Fund Copyright © RBC Europe Limited 2026 Copyright © Royal Bank of Canada 2026 All rights reserved<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30977"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30977" width="0" height="0"> ( Companies Mentioned: KMX:NYSE, ) Thu, 16 Apr 2026 00:00:00 PST Exploration Co. Finds Excellent Silver-Gold Gains in Historic Mexico District https://www.streetwisereports.com/article/2026/04/16/exploration-co-finds-excellent-silver-gold-gains-in-historic-mexico-district.html Source: <a href="https://www.streetwisereports.com/article/2026/04/16/exploration-co-finds-excellent-silver-gold-gains-in-historic-mexico-district.html?utm_medium=feed">Streetwise Reports 04/16/2026</a> Pacifica Silver Corp. (PSIL:CSE; PAGFF:OTCQB) intersects robust high-grade zones with standout AgEq values above 1,000 g/t, reinforcing continuity at its Durango project.On April 14, 2026, Pacifica Silver Corp. (PSIL:CSE; PAGFF:OTCQB) <a href="https://www.newsfilecorp.com/release/292267" target="_blank" rel="noopener">released assay results</a> from the first 16 holes of its Phase 1 diamond drilling program of the Claudia Silver-Gold Project in the El Papantón mining district in Durango State, Mexico. The project is 100% owned by Pacifica Silver. The Phase 2 program began in January 2026 and is expected to wrap up in June 2026, with nearly 10,000 of a total 20,000 meters drilled. The campaign found 14 of the 16 holes showing intersected silver-gold mineralization, with multiple high-grade intercepts. In the Aguilareña area, <a href="https://www.newsfilecorp.com/release/292267" target="_blank" rel="noopener">highlights of the results</a> include: <ul> <li>90 m @ 1.21 g/t Au (Gold) & 323 g/t Ag (Silver) (428 g/t AgEq) from 35.10 m, including 1.50 m @ 1.31 g/t Au & 783 g/t Ag (896 g/t AgEq), in hole 26CLAU077D.</li> <li>05 m @ 3.91 g/t Au & 79 g/t Ag (415 g/t AgEq) from 144.25 m, including 0.80 m @ 10.30 g/t Au & 214 g/t Ag (1,100 g/t AgEq), in hole 26CLAU076D.</li> <li>Hole 26CLAU074D intersected two high-grade veins in the Aguilareña hanging wall: <ul> <li>20 m @ 3.22 g/t Au & 32 g/t Ag (309 g/t AgEq) from 139.05 m, including 0.50 m @ 9.28 g/t Au & 42 g/t Ag (840 g/t AgEq); and</li> <li>60 m @ 2.54 g/t Au and 49 g/t Ag (268 g/t AgEq) from 144.20 m, including 0.65 m @ 8.27 g/t Au & 96 g/t Ag (807 g/t AgEq).</li> </ul> </li> <li>35 m @ 13.90 g/t Au & 62 g/t Ag (1,258 g/t AgEq) from 157.25 m in hole 26CLAU068D.</li> <li>60 m @ 11.65 g/t Au & 52 g/t Ag (1,063 g/t AgEq) from 128.60 m in hole 26CLAU078D.</li> </ul> In the Central Vein area, highlighted results include: 2.70 m @ 1.71 g/t Au & 124 g/t Ag (271 g/t AgEq) from 78.70 m, including 0.60 m @ 4.44 g/t Au & 324 g/t Ag (706 g/t AgEq), in hole 26CLAU079D. Todd Anthony, CEO of Pacifica Silver, said of the results, "These initial Phase II results highlight strong consistency at the Claudia project, with 14 of 16 holes intersecting silver-gold mineralization, several of which exceeded 1,000 g/t AgEq. These results successfully extend the Aguilareña vein down-dip by up to 150 meters and confirm robust subsurface vein continuity along 1.9 kilometers of strike length. The first hole drilled at the Central vein this year also delivered high-grade mineralization that exceeds prior results in the area. Together, these results reinforce our confidence in the scale, continuity, and significant overall potential of this high-grade silver-gold system. We look forward to reporting further results as the Phase II program advances." Pacifica Silver is a Canadian resource company exclusively focused on its 100%-owned Claudia Silver-Gold Project in Durango, Mexico. <h2 style="text-align: center;">Gold & Silver Steadying</h2> Gold is usually stronger when the dollar is weaker, and <a href="https://www.kitco.com/news/article/2026-04-15/gold-silver-see-mild-price-pressure-profit-taking" target="_blank" rel="noopener">Kitco reported on April 15</a> that, "The dollar's turnaround has been swift, with Bloomberg's dollar index dropping 1.9% in April after jumping 2.4% in March, as the U.S. and Iran started to discuss a resolution to the conflict." President Trump has signaled that the U.S.-Iran War may soon end, with new peace talks in the works. The prospect of a peace deal has affected the market. "U.S.-Iran talks can reduce geopolitical risk and increase investor confidence in equities. This may lower demand for safe-haven assets like gold and silver, causing short-term price declines," <a href="https://economictimes.indiatimes.com/news/international/us/why-are-gold-and-silver-prices-down-today-and-will-precious-metals-continue-to-drop-or-rise-again-analysts-insights-market-outlook-and-what-should-investors-do-now/articleshow/130282474.cms?from=mdr" target="_blank" rel="noopener">wrote Gandharv Walia for Economic Times</a> on April 14, 2026. Still, gold and silver are doing fairly well this week, despite dropping overnight among peace talk anticipation. "Technically, June gold futures bulls' next upside price objective is to produce a close above solid resistance at US$5,000.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at US$4,500.00. First resistance is seen at today's high of US$4,895.40 and then at US$4,950.00. First support is seen at US$4,800.00 and then at US$4,750.00," <a href="https://www.kitco.com/news/article/2026-04-15/gold-silver-see-mild-price-pressure-profit-taking" target="_blank" rel="noopener">wrote Jim Wyckoff for Kitco</a> on April 15, 2026. In regard to silver futures, Wyckoff wrote, "May silver futures bulls see their next upside price objective for the bulls is closing prices above solid technical resistance at US$85.00. The next downside price objective for the bears is closing prices below solid support at US$70.00. First resistance is seen at US$80.00 and then at today's high of US$81.155. Next support is seen at US$77.00 and then at US$75.00." Skittish investors are looking to experts for advice during this uncertain market. In response, <a href="https://economictimes.indiatimes.com/news/international/us/why-are-gold-and-silver-prices-down-today-and-will-precious-metals-continue-to-drop-or-rise-again-analysts-insights-market-outlook-and-what-should-investors-do-now/articleshow/130282474.cms?from=mdr" target="_blank" rel="noopener">Walia ended his article for the Economic Times by writing</a>, "Analysts said the current market mood reflects a wait-and-see approach. Investors are watching oil price movements, geopolitical developments, and interest rate signals." <h2 style="text-align: center;">The Right Direction, Analysts Say</h2> According to FactSet, on February 5, 2026, Raymond James analyst Craig Stanley gave Pacifica Silver Corp. an Overweight rating with a target price of CA$2.85. <a href="https://thegoldadvisor.com/the-gold-advisor/newsletters/pacifica-silver-tiger-gold/#ps" target="_blank" rel="noopener">Jeff Valks gave Pacifica Silver a 'Buy' rating</a> in an April 14, 2026, assessment for The Gold Advisor, arguing that the continuity of mineralization in this area consistently grows along strikes and depth, which he says is, ". . . exactly the direction strong vein systems usually reward." [OWNERSHIP_CHART-11447] Valks noted that he holds a long position on the stock, while his colleague, Jeff Clark, maintains an overweight position with no plans to sell. <h2 style="text-align: center;">Exploring Further Sites</h2> <a href="https://pacificasilver.com/images/PSIL%20Presentation%20-%20August%202025.pdf" target="_blank" rel="noopener">Pacifica Silver's investor presentation</a> asserts that the Claudia Project is high-grade and drill-ready, with plans to delineate targets in project pipeline through district-scale exploration of the Lizeth, La Concepcion, La Providencia, Don José veins." <h2 style="text-align: center;">Ownership & Share Structure1</h2> Pacifica Silver Corp. has a market cap of CA$79.21 million, with 60.59 million shares outstanding. The company's 52-week range is CA$0.35-CA$2.48. Institutions hold 8.91% of shares, while Management & Insiders own 10.74%. Strategic Investors own 16.51% of shares, and the remaining 63.84% of shares are held by Retail. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. </li> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30976"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30976" width="0" height="0"> ( Companies Mentioned: PSIL:CSE;PAGFF:OTCQB, ) Thu, 16 Apr 2026 00:00:00 PST Mining Company Discovers High-Grade 209 g/t Gold in North Carolina https://www.streetwisereports.com/article/2026/04/15/mining-company-discovers-high-grade-209-g-t-gold-in-north-carolina.html Source: <a href="https://www.streetwisereports.com/article/2026/04/15/mining-company-discovers-high-grade-209-g-t-gold-in-north-carolina.html?utm_medium=feed">Streetwise Reports 04/16/2026</a> Metalsource Mining Inc. (MSM:CSE; SFRIF:OTC; E9Z:FSE) announces results from its Silver Hill Project near Lexington, North Carolina. One expert thinks the numbers "scorching."Metalsource Mining Inc. (MSM:CSE; SFRIF:OTC; E9Z:FSE) announced new assay results from its ongoing exploration efforts at the Silver Hill Project near Lexington, North Carolina, <a href="https://www.metalsourcemining.com/20260413-metalsource-mining-intersects-48-04-g-t-aueq-over-12-62m-including-210-72-g-t-aueq-over-2-74m-extends-mineralization-down-dip-195m-continues-to-expand-gold-silver-and-base-metal-mineralization" target="_blank" rel="noopener">according to an April 13 release</a>. The recent drilling has uncovered impressive gold equivalent grades, with one notable intercept from drill hole SH26-07 revealing 12.62 meters of 48.04 g/t AuEq (gold equivalent). This includes segments of 6.95 meters at 85.4 g/t AuEq and 2.74 meters at 210.72 g/t AuEq. These findings underscore the high-grade potential of the mineral system and indicate a substantial increase in the gold value, extending the dip length by 195 meters below the surface, the release noted. The exploration has consistently demonstrated the presence of massive to semi-massive sulfide mineralization, both down dip and along strike, confirming the robust nature of the mineralized system, according to the company. Detailed results from drill hole SH26-07 are "transformational" for the company, according to Chief Executive Officer Joe Cullen, and include gold grades of up to 209.14 g/t and silver up to 93.63 g/t over 2.74 meters, and significant percentages of lead, zinc, and copper. The silver equivalent grades for this drill hole reached as high as 16,604 g/t, also over 2.74 meters, highlighting the rich mineral content of the intercepted zones. "SH26-07 is a transformational result for Metalsource Mining," Cullen said. "Intersecting 209 grams of gold per tonne over nearly 3 meters — within an envelope of 46 grams of gold per tonne over 12.62 meters — at 195 meters below our initial discovery confirms that Silver Hill is not a near-surface anomaly. It is a high-grade system that strengthens dramatically with depth. With visual confirmation of wide massive sulfide zones in our most recent holes, an active drill program, and a property-wide geophysical survey now being integrated into our geological model, we believe the most significant discoveries at Silver Hill are still ahead of us." The mineralization at Metalsource Mining's Silver Hill project is characterized by a rich composition of sphalerite, galena, pyrite, chalcopyrite, and occasionally electrum, a gold-silver alloy, Metalsource said. As exploration continues, various mineralization styles and deposit models are under evaluation, with reconnaissance along the strike revealing that the host rocks at Silver Hill extend at least 1.5 kilometers to the north. This extension suggests significant potential for further discoveries across the property. Currently, a comprehensive ground Induced Polarization (IP) and Magnetotellurics (MT) geophysical survey is nearing completion, the release said. The results of this survey are expected to greatly enhance the targeting of future exploration activities. <h2 style="text-align: center;">CA$6M Private Placement</h2> On March 6, <a href="https://www.metalsourcemining.com/20260306-metalsource-mining-closes-6-million-private-placement">Metalsource announced</a> it had closed a non-brokered private placement, raising a total of CA$5,999,998.50 through the issuance of 7,999,998 units priced at CA$0.75 each. Each unit is comprised of one common share of Metalsource and one-half of one transferable share purchase warrant. Each full warrant grants the holder the right to purchase an additional common share at a price of CA$1, valid for three years from the closing date. The units from this offering will be held for a period of four months and one day, in compliance with Canadian securities regulations. Notably, no finder's fees were paid during this transaction. Prominent investor Eric Sprott, through his company 2176423 Ontario Ltd., participated significantly in this placement by acquiring 1,333,333 units for a total investment of CA$1 million, the release said. Metalsource plans to allocate the proceeds from this offering towards further exploration activities at its Silver Hill and Byrd-Pilot projects located in North Carolina, in addition to bolstering its general working capital. <h2 style="text-align: center;">Expert: 'Scorching' Results</h2> Bob Moriarty of 321gold.com called the April results "scorching" in a <a href="https://www.streetwisereports.com/article/2026/04/15/gold-co-strikes-colossal-gold-intersection-at-silver-hills-nc.html?utm_medium=feed" target="_blank" rel="noopener">piece for Streetwise Reports on April 15</a>. SH26-07 "equates to over 600 grams/meters and would rank among the most impressive drill holes for any enterprise with any project," he noted. Moriarty said more holes may be required before establishing a National Instrument 43-101 resource, "but hole 07 has established a remarkably high standard." "This is a company-making hole over a known resource," Moriarty continued on 321gold.com. "With a market cap of only CA$115 million, it is still cheap but we need more holes released." <h2 style="text-align: center;">The Catalyst: Gold Keeping Steady Above US$4,800/oz</h2> Despite a resilient U.S. manufacturing sector, as evidenced by recent data from the New York Federal Reserve, gold prices have remained stable above US$4,800 per ounce. <a href="https://www.kitco.com/news/article/2026-04-15/gold-price-holding-support-near-4800-new-york-feds-empire-state-survey" target="_blank" rel="noopener">Neils Christensen of Kitco News reported on April 15</a> that the Empire State Manufacturing Survey for April showed a significant jump to a reading of 11 from -0.2 in March, surpassing economists' modest expectations of a rise to 0.3. This level marks the highest manufacturing activity in the New York region since last March. Richard Deitz, Economic Research Advisor at the New York Fed, noted, "Manufacturing activity grew moderately in New York State in April. New orders and shipments increased significantly, and employment expanded. However, input price increases accelerated, supply availability is expected to worsen, and firms became less optimistic about the outlook." Despite these positive economic indicators, the gold market has remained relatively unresponsive. Spot gold was last recorded trading at US$4,812.30 an ounce, marking a slight decrease of 0.57% for the day. Analysts are closely watching the US$4,800 level, recognizing it as a critical technical threshold that could enable gold to potentially rally back to US$5,000. They also suggest that while strong economic data could reduce gold's attractiveness as a safe-haven asset, it might also give the Federal Reserve more flexibility to lower interest rates later in the year, which would decrease the opportunity cost of holding non-yielding gold, potentially supporting its price.[OWNERSHIP_CHART-11513] <a href="https://www.investing.com/news/commodities-news/gold-prices-retreat-from-1mth-high-with-usiran-peace-talks-in-focus-4614368" target="_blank" rel="noopener">Scott Kanowsky from Investing.com highlighted on April 15</a> that gold prices were adversely affected in March by a significant rise in oil prices due to war, which fueled global inflation fears and led to expectations of interest rate hikes by central banks globally. This typically reduces the appeal of gold. At the same time, investors have shown a preference for the U.S. dollar, traditionally a safe haven during geopolitical unrest, despite gold's usual role as a protective investment. The U.S., as a net energy exporter and less impacted by disruptions in oil supply, particularly through the critical Strait of Hormuz, supports this preference for the dollar. The dollar index showed a modest increase of 0.1%, remaining just above its pre-war levels, indicating cautious optimism as diplomatic efforts to resolve the conflict appear to progress. According to analysts at ING, including Francesco Pesole, "Markets have grown more confident that the Middle East crisis is moving toward a resolution." <h2 style="text-align: center;">Ownership and Share Structure1</h2> About 3% of the company is owned by insiders and management and about 26% by other strategic investors (like Sprott). Top shareholders include Sprott's 2176423 Ontario Ltd. with 17.08%, One Bullion Ltd. with 8.69%, Thomas Kleeburg with 2.05%, the CEO Cullen with 0.99%, and Timothy Ko with 0.01%. Its market cap is CA$132.5 million with 71.62 million shares outstanding. It trades in a 52-week range of CA$0.11 and CA$2.29. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30973"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30973" width="0" height="0"> ( Companies Mentioned: MSM:CSE;SFRIF:OTC;E9Z:FSE, ) Thu, 16 Apr 2026 00:00:00 PST Energy Co. Unlocks High-Return Oil Potential in Saskatchewan https://www.streetwisereports.com/article/2026/04/16/energy-co-unlocks-high-return-oil-potential-in-saskatchewan.html Source: <a href="https://www.streetwisereports.com/article/2026/04/16/energy-co-unlocks-high-return-oil-potential-in-saskatchewan.html?utm_medium=feed">Streetwise Reports 04/16/2026</a> ROK Resources Inc. (ROK:TSX.V) targets 33% production growth with new drilling, strong cash flow potential, and optimized assets amid rising oil prices.ROK Resources Inc. (ROK:TSX.V) <a href="https://www.accessnewswire.com/newsroom/en/oil-gas-and-energy/rok-resources-announces-2026-capital-budget-and-2025-year-end-reserves-1156352" target="_blank" rel="noopener">released its 2026 budget and 2025 year-end reserves</a> on April 9, 2026. After limited activity in 2025, ROK plans to refocus its efforts on core operating areas in Southeast Saskatchewan in 2026. The company's planned program will include new drilling prospects, reactivation and optimization work, waterflood initiatives, and a continued focus on asset retirement obligations. The company said that it maintained a focused capital allocation strategy and vigilant financial decision-making to eliminate debt in 2025. Spending included approximately CA$5 million in capital expenses and an additional CA$1.1 million on asset retirement obligations. ROK's Adjusted Net Surplus as of the end of 2025 was estimated to be CA$4.4 million, representing a significant debt reduction of CA$15 million year-over-year. <a href="https://www.accessnewswire.com/newsroom/en/oil-gas-and-energy/rok-resources-announces-2026-capital-budget-and-2025-year-end-reserves-1156352" target="_blank" rel="noopener">According to ROK</a>, results highlights include: Full-year daily average production of 3,591 boepd (66% liquids), positive waterflood response at the Benson site, realized net hedge gains on commodity contracts of CA$7.2 million, and estimated annual funds from operations of CA$27.7 million. In 2026, the company has allotted CA$20.4 million dollars to be operationally active and commence drilling, equipping, and completing new locations. In order to finance growth in core operating areas, the corporate land budget has been increased, and CA$2.2 million will be dedicated to asset retirement obligations. As of April 9, 2026, ROK is 90% unhedged and exposed to spot pricing. It reported that, "New crude oil hedges on approximately 10% of ROK oil production were established for a 6-month period beginning April 2026. These are swap instruments, with pricing ranging from US$75 to US$83 per barrel." <h2 style="text-align: center;">Court Battle with Blue Alaska Ongoing</h2> The company also <a href="https://www.stocktitan.net/news/ROKRF/rok-resources-announces-termination-of-arrangement-j5vgggdvuez1.html" target="_blank" rel="noopener">provided an update on its terminated Arrangement Agreement</a> between itself and the purchaser group, Blue Alaska Oil Trading. The company announced the collapse of the agreement in a press release on March 4, 2026, but the situation has escalated. ROK is seeking repayment of the reciprocal break fee of CA$3 million due to claims of unmet terms and conditions. Blue Alaska is refuting this claim and claims that ROK is not entitled to payment. Both parties have reserved legal counsel. <h2 style="text-align: center;">Oil & Gas Prices Unpredictable</h2> The economy, interest rates, and stock market have all been affected by the U.S.-Iran War.<a href="https://www.kitco.com/news/off-the-wire/2026-04-15/us-import-prices-increase-below-expectations-sharp-rise-anticipated" target="_blank" rel="noopener"> An April 15, 2026, article by Reuters said</a>, "Oil prices have jumped more than 35% since the conflict started at the end of February. President Donald ⁠Trump has imposed a blockade of the Strait of Hormuz, which halted seaborne trade in and out of Iran. The war has also disrupted shipments of commodities, including fertilizer." After President Trump's command to blockade the Strait of Hormuz earlier this week, oil experts from the Middle East have stalled. "The war has mostly shut the Strait of Hormuz. This route is critical for crude and refined product flows from the Gulf to Asia and Europe," <a href="https://economictimes.indiatimes.com/news/international/us/why-are-oil-and-gas-prices-witnessing-wild-swings-and-will-brent-crude-futures-us-wti-crude-dutch-and-british-wholesale-gas-prices-rise-or-fall-again-analysts-insights-market-outlook-and-what-should-investors-do-now/articleshow/130281331.cms?from=mdr" target="_blank" rel="noopener">wrote Gandharv Walia for the Economic Times</a> on April 14. "Before the conflict, more than 130 ships crossed the waterway daily. Traffic is now a fraction of that level. A blockade of Iranian shipping has also halted trade leaving Iranian ports by sea." But among rumors of peace talks, the market is changing. "One sign that investors are expecting the war to wind down in the near term is markets showing that oil prices are expected to be more moderate by year-end, said Angelo Kourkafas, senior global investment &zwnj;strategist at ⁠Edward Jones. The front-month contract for U.S. crude is hovering at around $95 a barrel, while the December contract is at $77, according to LSEG data," <a href="https://www.kitco.com/news/off-the-wire/2026-04-14/higher-oil-prices-higher-yields-no-more-rate-cuts-no-problem-us-stocks" target="_blank" rel="noopener">reported a separate article by Reuters</a>, posted on April 14. <h2 style="text-align: center;">Undervalued or a Hold?</h2> According to FactSet on April 9, 2026, Ventum Financial Corp. Analyst Adam Gill gave ROK Resources a Hold rating with a target price of CA$0.30. Chen Lin of What is Chen Buying? What is Chen Selling? wrote on April 12, 2026: "ROK.v put out a new presentation. ROK is extremely undervalued in terms of 1P and 2P. The only weakness is PDP, which the company is actively drilling to fix. They have 100+ locations ready to drill, and IRR is at 200+% for US$70 WTI and 300+% for US$80. At the current oil price, they can generate big free cash flow this year and start to return capital to shareholders after the lithium holding is free trading in September. [OWNERSHIP_CHART-10531] <h2 style="text-align: center;">2026 Budget Aimed at Exploration and Production</h2> "With current production of 3,000 boepd, ROK expects this budget to achieve peak production of approximately 4,000 boepd in Q4 2026 (33% increase). This includes the reactivation of 280 boepd (85% natural gas) of shut-in production in Kaybob sometime in late Q2. The go-forward budget assumes a minimum US$70 WTI for the remainder of 2026 and will be funded entirely out of working capital," <a href="https://www.accessnewswire.com/newsroom/en/oil-gas-and-energy/rok-resources-announces-2026-capital-budget-and-2025-year-end-reserves-1156352" target="_blank" rel="noopener">stated the company's news release</a>. <h2 style="text-align: center;">Ownership & Share Structure1</h2> ROK Resources has a market cap of CA$59.89 million, with 217.76 million shares outstanding. The company's 52-week range is CA$0.13-CA$0.28. Strategic Investors hold 0.85% of shares, while Management & Insiders hold 16.65%. The remaining 82.50% of shares are Retail. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. </li> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30972"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30972" width="0" height="0"> ( Companies Mentioned: ROK:TSX.V, ) Thu, 16 Apr 2026 00:00:00 PST Historic Tungsten Mine Gets New Economic Review as Fresh Report Is Filed https://www.streetwisereports.com/article/2026/04/16/historic-tungsten-mine-gets-new-economic-review-as-fresh-report-is-filed.html Source: <a href="https://www.streetwisereports.com/article/2026/04/16/historic-tungsten-mine-gets-new-economic-review-as-fresh-report-is-filed.html?utm_medium=feed">Streetwise Reports 04/16/2026</a> Allied Critical Metals Inc. (ACM:CSE; ACMIF:OTCQB; 0VJ0:FSE) filed a technical report supporting its preliminary economic assessment of Borralha.<a href="https://www.streetwisereports.com/pub/co/11251?utm_medium=feed" target="_blank" rel="noopener">Allied Critical Metals Inc. (ACM:CSE; ACMIF:OTCQB; 0VJ0:FSE)</a> announced <a href="https://alliedcritical.com/2026/04/14/allied-critical-metals-files-new-technical-report-on-previously-announced-pea/" target="_blank" rel="noopener">that it has publicly filed a new technical report titled "Preliminary Economic Assessment – Borralha Tungsten Project, Parish of Salto, District of Vila Real, Portugal," dated effective April 14, 2026.</a> The filing supports the results of the company's previously announced preliminary economic assessment for its 100% owned Borralha Tungsten Project in northern Portugal. The technical report, available <a href="https://www.sedarplus.ca/home/" target="_blank" rel="noopener">under the company's profile on SEDAR+</a>, was prepared in accordance with National Instrument 43-101 standards. The report updates a prior technical report dated December 30, 2025 and was completed in support of the initial preliminary economic assessment of the Borralha property. <a href="https://www.sedarplus.ca/csa-party/viewInstance/resource.html?node=W3341&drmKey=e1aaa4e7a8d5953a&drr=ss066bad44b00163a1942443b5636df534683d473964ee628a7712a34319efcaa3d1dd0bb5ee1d0b07204fa1c8dbc8fee8ux&id=0c11f8b7998bcd962539e33c26fbb667958f1cd94ebbe197" target="_blank" rel="noopener">According to the report</a>, the Borralha property comprises a past-producing tungsten-tin mine located in northern Portugal, approximately 40 km east of Braga and about 100 km northeast of Porto. The property includes Portuguese Mining License C-167, covering 382.48 hectares and encompassing the historic Borralha mine and surrounding mineralized areas. The report states that mining operations at Borralha were conducted from 1903 until closure in 1985, with total production of wolframite and scheelite concentrates estimated at approximately 18,500 tonnes. Peak annual production occurred in 1955, when approximately 524.3 tonnes of concentrate were produced. The technical report also describes the geological setting of the project, noting that mineralization occurs within quartz veins, intrusive breccias, and greisen systems associated with Hercynian-age granitic intrusions. The Santa Helena Breccia, located south of the Borralha River, is identified as a key exploration target and hosts polymetallic mineralization including tungsten, tin, copper, zinc, and molybdenum. The report further outlines exploration activities completed on the property, including historical drilling programs and more recent work. As of the effective date, a total of 9,236 metres of combined drilling had been completed within the Santa Helena Breccia, including infill and step-out drilling. In 2026, the company initiated a new phase of exploration drilling comprising approximately 20,000 metres of core drilling focused on resource conversion and testing extensions of known mineralization. The Borralha project is described as the company's principal property, and the report includes a comprehensive review of historical mining, geological interpretation, exploration data, and technical studies conducted to support the preliminary economic assessment. <h2 style="text-align: center;" data-start="21" data-end="601">Global Supply Concentration and Policy Moves Put Tungsten in Focus</h2> Policy developments also drew attention as governments and industry groups examined supply security.<a href="https://resource-recycling.com/e-scrap/2026/04/09/tungsten-scrap-export-controls-draw-industry-attention/" target="_blank" rel="noopener"> Resource Recycling wrote on April 9 that a coalition had urged the U.S. Department of Commerce to consider export controls on tungsten scrap,</a> arguing that material collected domestically was "being purchased at premium prices by foreign buyers and shipped offshore, reducing the supply available to domestic processors and end users." The report also noted that China's export controls had "added another layer of friction to an already concentrated market," with Reuters reporting that prices rose to their highest level since 2013 as supply tightened. Demand trends across industrial sectors continued to support tungsten consumption. <a href="https://www.fortunebusinessinsights.com/tungsten-market-115884" target="_blank" rel="noopener">According to an April 9 report from Fortune Business Insights, the global tungsten market was valued at US$5.43 billion in 2025 and was projected to grow to US$9.19 billion by 2034</a>. The report stated that the market was "progressing steadily as industries increasingly demand durable, high-performance materials for arduous operations," particularly across mining, construction, automotive, aerospace, and industrial equipment sectors. Usage patterns highlighted tungsten's role in heavy industry and manufacturing. The International Tungsten Industry Association stated that "approximately 60–65% of tungsten consumed globally is used in cemented carbides," which are widely applied in cutting tools, drilling equipment, and wear-resistant components. The U.S. Geological Survey similarly reported that about 60% of global tungsten consumption was tied to these applications, reflecting the material's importance in mining, construction, and metalworking activities. Supply concentration remained a structural constraint within the sector. Fortune Business Insights reported that China accounted for about 82% of global tungsten mine production in 2025, underscoring the reliance on a limited number of sources. The report stated that this concentration created "supply risks and price volatility for downstream industries," particularly in the context of export controls and trade restrictions. Pricing dynamics also reflected tightening supply conditions. <a href="https://discoveryalert.com.au/viking-mines-linka-tungsten-development-prices-highs/" target="_blank" rel="noopener">In an April 14 market update, tungsten prices were reported to have reached US$3,185 per metric ton unit, described as "90-year highs." </a>The same report stated that current pricing levels were influenced by "strategic metal classification and supply chain security concerns," along with industrial demand from aerospace, defense, and energy sectors and limited global production capacity. <h2 style="text-align: center;" data-start="2742" data-end="3191">Expert Sees Strong Economics Backing Tungsten Project</h2> Thibaut Lepouttre of Caesar's Report told Streetwise Reports, "While the project has been around for a while, but never gained momentum when the tungsten price was US$300-375 per mtu, the current renewed interest and sky-high tungsten price make Borralha's economics very attractive." He noted that the company's base case scenario used a price of CA$1,000/mtu, yielding an after-tax NPV8% of CA$475M, which could nearly double to CA$1B at CA$1,500/mtu, highlighting Borralha as one of Europe's prime options for boosting domestic tungsten production. <h2 style="text-align: center;" data-start="2760" data-end="2801">Project Development and Work Programs</h2> <a href="https://alliedcritical.com/PDF/ACM-Presentation.pdf" target="_blank" rel="noopener">The company's current investor presentation outlined multiple development activities and timelines across its Borralha and Vila Verde projects.</a> In the first quarter of 2026, Allied completed the preliminary economic assessment for Borralha and initiated a 20,000 metre drill program at the project targeting resource conversion and extensions within the Santa Helena Breccia and additional targets. Borralha has received an Environmental Impact Declaration in January 2026, which allows the project to advance into detailed engineering and development. The project is progressing through Portugal's mine licensing process under relevant regulatory authorities. At the Vila Verde project, the company is advancing a pilot plant strategy. Construction of the pilot plant is expected to begin in the second quarter of 2026, with operations targeted for 2026. The plant is designed with an initial capacity of 150,000 tonnes per year, with potential expansion to 300,000 tonnes per year. [OWNERSHIP_CHART-11251] Permitting progress at Vila Verde includes the advancement of an experimental mining license, which would allow for limited pilot mining and processing of up to approximately 150,000 tonnes per annum prior to obtaining a full mining license. The project also benefits from a pre-existing quarry operation that may support permitting and development. Additional exploration activities at Vila Verde include re-assay work on historical drilling data. The company also reported that it has signed a letter of intent with Global Tungsten & Powders for the sale of tungsten concentrate and is engaged in ongoing discussions with other refineries globally regarding additional offtake arrangements. <h2 style="text-align: center;">Ownership and Share Structure1</h2> Insiders own approximately 31% of Allied. About 16% is held by institutions and institutional investors, and the rest is held by retail shareholders. The company has 171.53 million common shares issued and outstanding. Its market cap is CA$316.97 million. Its 52-week range is CA$0.20–CA$2.28 per share. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a> <div class="z-0 flex min-h-[46px] justify-start"> </div>Important Disclosures:<ol> <li>Allied Critical Metals Inc. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.</li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Allied Critical Metals Inc.</li> <li>James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting" target="_blank" rel="noopener">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30971"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30971" width="0" height="0"> ( Companies Mentioned: ACM:CSE; ACMIF:OTCQB; 0VJ0:FSE, ) Thu, 16 Apr 2026 00:00:00 PST Exploration Co. Defines Extensive Oxide Gold-Silver Expansion in Arizona https://www.streetwisereports.com/article/2026/04/16/exploration-co-defines-extensive-oxide-gold-silver-expansion-in-arizona.html Source: <a href="https://www.streetwisereports.com/article/2026/04/16/exploration-co-defines-extensive-oxide-gold-silver-expansion-in-arizona.html?utm_medium=feed">Streetwise Reports 04/16/2026</a> Aztec Minerals Corp. (AZT:TSX.V; AZZTF:OTCQB) delineates >1km strike and broad shallow oxide gold-silver mineralization, confirming continuity at Tombstone.<a href="https://www.streetwisereports.com/pub/co/9156?utm_medium=feed" target="_blank" rel="noopener">Aztec Minerals Corp. (AZT:TSX.V; AZZTF:OTCQB)</a> <a href="https://aztecminerals.com/news/index.php?content_id=292" target="_blank" rel="noopener">announced on April 15, 2026</a>, the results of 14 drill holes from the reverse circulation (RC) portion of its Tombstone Property 2025-2026 drill program. The company found additional strong, wide, and shallow oxide gold-silver intersections in the Westside target area. The company reported an additional extension of 0.4km of width into the mineralized zone of the Westside area, with the Contention Au/Ag (gold/silver) zone from the northern property limit to over 1km north-south on strike. The 17,000-meter drill program has completed 59 RC and 6 core drill holes, with results from additional Westside targets still pending. <a href="https://aztecminerals.com/news/index.php?content_id=292" target="_blank" rel="noopener">Aztec Minerals CEO, Simon Dyakowski, commented on the results</a>, saying, "Our expanded drill program continues to demonstrate the potential for significant growth of the near-surface oxide gold-silver mineralized zone at Tombstone. We are now aggressively and successfully testing the Westside area target. Drilling in the Contention zone continues to demonstrate consistently strong oxide gold and silver grades at shallow depths. The 17,000-meter 2025-2026 program is currently following up on Westside area targets and testing newly generated targets in the Southwest of the property, which include the Ingersoll, Hard-up, and Independence targets. These new targets represent the potential to reframe the project to an even larger scale with shallow targets in areas over 1km away from the historic open pit operations." <a href="https://aztecminerals.com/news/index.php?content_id=292" target="_blank" rel="noopener">Notable results</a> include multiple zones of oxide mineralization in the Bisbee sediments of Hole TR26-14, including ". . . 10.6m averaging 0.195 gpt Au and 13.0 gpt Ag from surface, 107.9m averaging 0.618 gpt Au and 24.8 gpt Ag from 39.5m, 48.6m averaging 0.091 gpt Au and 8.106 gpt Ag from 176.3m, and ending in 9.1m averaging 0.121 gpt Au and 10.17 gpt Ag from 234.1m." These results demonstrated that the entire Westside anticline could potentially host oxidized precious metal mineralization. At Hole TR26-01, Aztec tested the Westside anticline and intersected, at depth, two zones of oxidized mineralization, from ". . . 51.7m to 74.5m depth for 22.8m averaging 0.038 gpt Au and 11.87 gpt Ag, and then from 86.6 m to 110.9 m for 24.3 meters averaging 0.039 gpt Au and 13.37 gpt Ag." These findings demonstrated the location of the historic Westside mine workings. At Hole TR26-07, has been collared in the central portion of the Contention mineralization, and the drill program expanded it to 239.3 meters of depth, intersecting three mineralized zones, including ". . . 112.5m averaging 0.479 gpt Au and 12.64 gpt Ag." Finally, the drill program tested Holes TR26-11 and TR26-12, which are collared in the western limits of the Contention area. Aztec drilled toward the east to test the western limits and the depth of the Contention mineralization. The company expanded the Contention Target mineralization 50-70 meters west and to depth. The findings for TR26-11 intercepted ". . . 100.3m averaging 0.173 gpt Au and 11.46 gpt Ag," while TR26-12 intercepted ". . . 48.6m averaging 0.172 gpt Au and 18.04 gpt Ag." The company said that, "The intercepts show broad continuity of mineralization." Aztec Minerals has been drilling in the contention area since 2020, using a 'fan grid pattern' to test the extensions on all sides. It has continuously identified depth and ". . . horizontally pervasively oxidized and hematite-rich, silicified hydrothermal breccias composed of quartz feldspar porphyry dike and Bisbee Group clastic sedimentary fragments, typical of the material mined historically at the Contention Mine." Other identified minerals include manganese replacements in limestone beds and skarns, quartz veinlets, oxidized sulfide relicts as disseminations, silicification of altered hornfels, quartz feldspar porphyries, and hydrothermal breccias. Aztec Minerals Corp. is an exploration company focused on projects in Sonora, Mexico, and Arizona, U.S.A. The Tombstone Project is located in Southeastern Arizona, and Aztec holds an 85% interest in the joint venture. <h2 style="text-align: center;">Metals Investors Holding During War</h2> Gold is usually stronger when the dollar is weaker, and <a href="https://www.kitco.com/news/article/2026-04-15/gold-silver-see-mild-price-pressure-profit-taking" target="_blank" rel="noopener">Kitco reported on April 15</a> that, "The dollar's turnaround has been swift, with Bloomberg's dollar index dropping 1.9% in April after jumping 2.4% in March, as the U.S. and Iran started to discuss a resolution to the conflict." President Trump has signaled that the U.S.-Iran War may soon end, with new peace talks in the works. The prospect of a peace deal has affected the market. "US-Iran talks can reduce geopolitical risk and increase investor confidence in equities. This may lower demand for safe-haven assets like gold and silver, causing short-term price declines," <a href="https://economictimes.indiatimes.com/news/international/us/why-are-gold-and-silver-prices-down-today-and-will-precious-metals-continue-to-drop-or-rise-again-analysts-insights-market-outlook-and-what-should-investors-do-now/articleshow/130282474.cms?from=mdr" target="_blank" rel="noopener">wrote Gandharv Walia for Economic Times</a> on April 14, 2026. Still, gold and silver are doing fairly well this week, despite dropping overnight among peace talk anticipation. "Technically, June gold futures bulls' next upside price objective is to produce a close above solid resistance at US$5,000.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at US$4,500.00. First resistance is seen at today's high of US$4,895.40 and then at US$4,950.00. First support is seen at US$4,800.00 and then at US$4,750.00," <a href="https://www.kitco.com/news/article/2026-04-15/gold-silver-see-mild-price-pressure-profit-taking" target="_blank" rel="noopener">wrote Jim Wyckoff for Kitco</a> on April 15, 2026. In regard to silver futures, Wyckoff wrote, "May silver futures bulls see their next upside price objective for the bulls is closing prices above solid technical resistance at US$85.00. The next downside price objective for the bears is closing prices below solid support at US$70.00. First resistance is seen at US$80.00 and then at today's high of US$81.155. Next support is seen at US$77.00 and then at US$75.00." Skittish investors are looking to experts for advice during this uncertain market. In response, <a href="https://economictimes.indiatimes.com/news/international/us/why-are-gold-and-silver-prices-down-today-and-will-precious-metals-continue-to-drop-or-rise-again-analysts-insights-market-outlook-and-what-should-investors-do-now/articleshow/130282474.cms?from=mdr" target="_blank" rel="noopener">Walia ended his article for the Economic Times by writing</a>, "Analysts said the current market mood reflects a wait-and-see approach. Investors are watching oil price movements, geopolitical developments, and interest rate signals." <h2 style="text-align: center;">A 'Laughably Undervalued' Stock</h2> Analysts and newsletter writers were already looking at the company beforehand. On March 3, 2026, Alina Islam gave the company a 'Buy' rating with a price target of CA$0.60, citing a probability-weighted valuation methodology. [OWNERSHIP_CHART-9156] As far back as January, 2026, <a href="https://www.streetwisereports.com/article/2026/01/28/gold-co-is-laughably-undervalued.html?utm_medium=feed" target="_blank" rel="noopener">Bob Moriarty of 321Gold.com wrote that</a>, "Given the superior caliber of its twin company-making projects and record prices for both gold and silver simultaneously, Aztec is laughably undervalued." After today's press release, <a href="https://thegoldadvisor.com/the-gold-advisor/newsletters/aztec-minerals-a2-gold/" target="_blank" rel="noopener">Jeff Valks of The Gold Advisor </a><a href="https://thegoldadvisor.com/the-gold-advisor/newsletters/aztec-minerals-a2-gold/" target="_blank" rel="noopener">agreed with Moriarty</a>, writing, "There's lots of silver here, and the footprint is growing. Consensus from every analyst and investment banker on the tour: 'This is deeply undervalued.' I hold a long position; Jeff Clark holds an overweight position with no plans to sell." <h2 style="text-align: center;">Upcoming Company Catalysts</h2> In Q2 2026, Aztec will begin planning for a 2026 exploration program for its Cervantes project in Mexico, according to <a href="https://aztecminerals.com/_resources/presentations/corporate-presentation.pdf?v=0.40" target="_blank" rel="noopener">the company's investor presentation</a>. <h2 style="text-align: center;">Ownership & Share Structure1</h2> Aztec Minerals Corp. has a market cap of CA$49.10 million, with 188.84 million shares outstanding. The company's 52-week range is CA$0.17-CA$0.44. Management & Insiders own 3.67% of shares, while Institutions own 11.56%. The remaining 84.77% of shares are Retail. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Aztec Minerals Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000. </li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Aztec Minerals Corp.</li> <li>Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. </li> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30969"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30969" width="0" height="0"> ( Companies Mentioned: AZT:TSX.V; AZZTF:OTCQB, ) Thu, 16 Apr 2026 00:00:00 PST Exploration Co. Hits >0.9% Copper in Chile, CEO Signals Plenty in System https://www.streetwisereports.com/article/2026/04/16/exploration-co-hits-0-9-copper-in-chile-ceo-signals-plenty-in-system.html Source: <a href="https://www.streetwisereports.com/article/2026/04/16/exploration-co-hits-0-9-copper-in-chile-ceo-signals-plenty-in-system.html?utm_medium=feed">Streetwise Reports 04/15/2026</a> Fitzroy Minerals Inc. (FTZ:TSX.V; FTZFF:OTCQB) reports wide copper intercepts, launches PFS metallurgy, and advances ANT survey for strong system.Fitzroy Minerals Inc. (FTZ:TSX.V; FTZFF:OTCQB) gave <a href="https://www.thenewswire.com/press-releases/1k49F4lVb-fitzroy-minerals-continues-with-2-rig-definition-drilling-intercepting-92-5-m-at-0-53-cu-from-3-5-m-as-it-moves-toward-a-maiden-mineral-resource-estimate-and-initial-economic-study-at-the-buen-retiro-copper-project-chile.html" target="_blank" rel="noopener">an update </a>on its Buen Retiro Copper Project in Chile on April 16, 2026, where it is digging for copper. Fitzroy provided results of the definition drilling and metallurgical test work for the Pre-Feasibility Study (PFS), as well as the Ambient Noise Tomography (ANT) geophysical survey of the property. Highlights include: <ul> <li>Drill hole BRT-DDH048 returned 92.5 m @ 0.53% Cu (Copper) from 3.5 m, including 46.0 m @ 0.82% Cu from 36.0 meters. </li> <li>Drill hole BRT-DDH049 returned 83.0 m @ 0.57% Cu from 95.0 m, including 43.0 m @ 0.90% Cu from 95.0 meters. </li> <li>Metallurgical test work at SGS Laboratories started on a 2,900 kg representative sample. </li> <li>Fleet Space Technologies' passive seismic ANT geophysical survey has been completed across a 5 km x 5 km area, with processing and interpretation underway. </li> </ul> The company offered <a href="https://www.thenewswire.com/press-releases/1k49F4lVb-fitzroy-minerals-continues-with-2-rig-definition-drilling-intercepting-92-5-m-at-0-53-cu-from-3-5-m-as-it-moves-toward-a-maiden-mineral-resource-estimate-and-initial-economic-study-at-the-buen-retiro-copper-project-chile.html" target="_blank" rel="noopener">an overview of the project</a>, writing ". . . a definition drilling program for a maiden mineral resource estimate is underway, using two drill rigs. Building on mineralization identified in previous drill holes, 32 new diamond drill holes (5,143 meters) in the southwest area have been completed, and assays are pending. The drill hole plan is being expanded as fresh zones of shallow mineralization are intersected to the east, towards the southern area. The aim is to delineate sufficient material in the Measured and Indicated Resource categories (as such terms are defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects ('NI 43-101')) to provide a robust life-of-mine production plan for the Heap Leach project, and inclusion in the PFS. Additional definition drilling aims to delineate Inferred Resources (as such term is defined under NI 43-101) that may represent a source of future plant feed subject to conversion to higher-confidence resource classifications through subsequent drilling." <a href="https://www.thenewswire.com/press-releases/1k49F4lVb-fitzroy-minerals-continues-with-2-rig-definition-drilling-intercepting-92-5-m-at-0-53-cu-from-3-5-m-as-it-moves-toward-a-maiden-mineral-resource-estimate-and-initial-economic-study-at-the-buen-retiro-copper-project-chile.html" target="_blank" rel="noopener">In the release, President and CEO of Fitzroy, Merlin Marr-Johnson, said</a>, "The resource definition drilling is advancing quickly and has intersected many samples that exceed the ALS laboratory 1% Cu maximum limit for 'exploration' assay methods in the southwest area. Although these samples have to be re-assayed using 'ore grade' assay methods, and many results are pending, it shows there is plenty of copper in the system. The start of metallurgical test work for the PFS is a milestone event." Marr-Johnson commented further, "The ANT geophysical survey is a step forward in the hunt for a major sulphide discovery at Buen Retiro. Our aim is to leverage potential future cash flow from the Buen Retiro Heap Leach copper operation to fund the continued exploration for major copper deposits in Chile (including Buen Retiro and Caballos) with minimal dilution." Fitzroy Minerals Inc. is a Canadian exploration company focused on primarily copper assets in the Americas. The company's projects include the Buen Retiro Copper Project located near Copiapó, Chile, the Caballos Copper and Polimet Gold-Copper-Silver projects located in Valparaiso, Chile, the Taquetren Gold Project located in Rio Negro, Argentina, and the Caribou Project in British Columbia, Canada. <h2 style="text-align: center;">Copper on the Up</h2> "Copper rose to the highest level in more than a month as most industrial metals rallied on optimism that the U.S. and Iran will restart peace talks. . . Copper rose 1.8% to settle at US$13,284.50 a ton on the London Metal Exchange," <a href="https://www.mining.com/web/copper-price-rises-to-six-week-high-as-iran-talks-hope-aids-metals/" target="_blank" rel="noopener">reported Mining.com on April 14, 2026</a>. On the same day, <a href="https://tavicosta.substack.com/p/the-mining-cycle?utm_source=post-email-title&publication_id=7636229&post_id=194257271&utm_campaign=email-post-title&isFreemail=false&r=4uo03n&triedRedirect=true&utm_medium=email" target="_blank" rel="noopener">Tavi Costa agreed</a>, noting that, "Copper has remained remarkably resilient despite the recent broader market selloff, and it increasingly looks like a metal setting up for a meaningful move higher." Investing.com has a more cautious view of the metal, though, waiting for war news before making a solid statement. For the site, on April 16, 2026, <a href="https://www.investing.com/news/commodities-news/copper-prices-rose-to-highest-in-more-than-a-month-on-potential-end-to-iran-war-4616064" target="_blank" rel="noopener">Jaiveer Shekhawat wrote</a>, "However, the global outlook remains cautious, with institutions like Goldman Sachs and Citi projecting a surplus market and potential price downside amid macroeconomic uncertainties. Trade data also reflects softer demand, with China's refined copper imports declining, although concentrate imports have increased." <h2 style="text-align: center;">'High Prospectivity' in Chile</h2> In a contributed opinion piece for Streetwise Reports on March 16, 2026, <a href="https://www.streetwisereports.com/article/2026/03/16/post-pdac-blues.html?utm_medium=feed" target="_blank" rel="noopener">Michael Ballanger wrote</a>, "Fitzroy Minerals Inc. (FTZ:TSX.V; FTZFF:OTCQB) reported the first tranche closing of a CA$18.8m funding on Friday at CA$0.50 with the stock going out at CA$0.38 for the week, 24% off the financing price and 48% off its 52-week high. With two major projects being developed/explored in mining-friendly Chile, [I see] high prospectivity of their two major copper projects." [OWNERSHIP_CHART-10000] <h2 style="text-align: center;">Plans for Two Projects</h2> Fitzroy's <a href="https://fitzroyminerals.com/site/assets/files/5954/260401_ftz_april.pdf" target="_blank" rel="noopener">investor presentation</a> lists upcoming catalysts for the company, beginning with the Buen Retiro Copper Project. For the initial PFS in Q1 2027, the company will be focused on infill, sterilization, Geotech drilling, metallurgy, engineering, and an MRE throughout all quarters of 2026. For the Caballos Project, Fitzroy will work on Phase 2 drilling and a dep IP study from Q2 2026 to Q1 2027. <h2 style="text-align: center;">Ownership & Share Information1</h2> Fitzroy Minerals Inc. has a market cap of CA$152.46 million, with 327.87 million shares outstanding. The company's 52-week range is CA$0.24-CA$0.73. Management and Insiders own 11% of shares, while Institutions own 2%. Strategic Investors own 25% of shares, and the remaining 62% of shares are held by Retail. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Fitzroy Minerals Inc.</li> <li>Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. </li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30982"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30982" width="0" height="0"> ( Companies Mentioned: FTZ:TSX.V; FTZFF:OTCQB, ) Wed, 15 Apr 2026 00:00:00 PST Jr. Explorer Targets Brand New Porphyry Breakthrough in Southern British Columbia https://www.streetwisereports.com/article/2026/04/16/jr-explorer-targets-brand-new-porphyry-breakthrough-in-southern-british-columbia.html Source: <a href="https://www.streetwisereports.com/article/2026/04/16/jr-explorer-targets-brand-new-porphyry-breakthrough-in-southern-british-columbia.html?utm_medium=feed">Streetwise Reports 04/15/2026</a> Torr Metals Inc. (TMET:TSX.V) updates stakeholders on exploration activities at its Kolos copper-gold project in British Columbia. Read why analyst thinks the stock is a Speculative Buy.<a href="https://www.streetwisereports.com/pub/co/11133?utm_medium=feed" target="_blank" rel="noopener">Torr Metals Inc. (TMET:TSX.V)</a> updated stakeholders on the progress of exploration activities at its expansive 332-square-kilometer Kolos copper-gold project in Southern British Columbia, <a href="https://torrmetals.com/news/torr-metals-targets-potential-porphyry-source-at-bertha-zone-and-expands-district-scale-cu-au-corridor-with-new-kova-target/" target="_blank" rel="noopener">according to a release on April 15</a>. The company recently deployed geophysical and geological teams to the site to enhance ongoing exploration efforts. A significant focus of this phase is the Bertha zone, where initial phase I drilling late in 2025 uncovered a large, structurally controlled copper-gold system. Building on this discovery, phase II drilling is set to commence soon, initially targeting the Bertha North area along a northwest-trending picrite corridor known for concentrating copper mineralization. The ongoing geophysical surveys also aim to detect similar signatures northeast of the initial drilling area within the Bertha extension target zone. Additionally, a potential secondary porphyry system has been identified at the newly discovered Kova target, roughly 2.2 kilometers northeast of Bertha North, the company noted. A previously unexplored geophysical anomaly at Bertha North, characterized by moderate to high resistivity and corresponding moderate to low conductivity, suggests the presence of a substantial intrusive unit beside a near-vertical picrite contact, the company said in the release. This could potentially be a crucial source and driver of the system, offering an improved structural architecture not encountered in phase I. This interpretation is bolstered by a coincident chargeability anomaly that intensifies at depth where it intersects with large-scale northeast structures, enhancing the zones favorable for porphyry-style intrusions and potential primary (hypogene) sulphide mineralization. <h2 style="text-align: center;">Anomaly Suggests Large System Below</h2> Phase I drilling at Bertha confirmed a brand new substantial native copper system extending to about 580 meters vertical depth. The current exploration is tracing mineralization along the conductive picrite contact towards a more resistive intrusive target at Bertha North, which is believed to be a potential source of the system. A significant soil anomaly at Bertha North also suggests a large porphyry system below hosted within a resistive intrusive unit. Building on phase I results, phase II drilling will target areas with moderate to high-resistivity and coincident chargeability at depth, refining the source intrusion porphyry signature based on Torr's evolving exploration model, according to Torr. Near the surface, resistivity highs and low chargeability likely indicate silicified, oxidized, or potassically altered intrusive rocks, transitioning at depth to moderate chargeability consistent with the development of primary (hypogene) sulfide mineralization. The Kova target is defined by a magnetic geophysical anomaly similar to that at Bertha North, and limited historical drilling consisting of a single vertical drill hole intersected strong silica and pyrite alterations to 109 meters depth, suggestive of proximity to a separate porphyry center, the release said. About 200 reconnaissance soil samples are currently being collected to further assess and refine this target area. Field crews are actively engaged in reconnaissance sampling, drone magnetics, and induced polarization surveys to refine targets ahead of the planned phase II drilling in Q2 2026. According to Torr, recent geological and geophysical analyses have led to the identification of a continuous northwest-trending corridor at the Kolos project, closely associated with a picrite unit. This corridor is believed to connect the extensive hydrothermal native copper mineralization found during the phase I drilling in December 2025 directly to the Bertha North porphyry target. This finding is significant as similar picrite contacts at the nearby New Afton copper-gold porphyry deposit are known to play a crucial role in localizing mineralization by creating stark structural and geochemical contrasts that channel fluid flow and concentrate metals. At Kolos, the picrite is thought to act both as a structural conduit and a geochemical trap that reduces and concentrates copper, the company said. This occurs where the picrite's contact with other geological structures creates zones of weakness that facilitate the movement of fluids and enhance the concentration of copper, which is further modified by supergene processes. The phase I drilling focused on a pipe-like, high-chargeability anomaly with moderate resistivity that extends from the surface along this contact. This anomaly is now interpreted as indicative of secondary structural leakage and localized concentration of mineralization, especially at the intersections of northwest- and northeast-trending structures. This convergence at Bertha North is seen as highly promising, suggesting that the exploration is moving from the outer parts of a large hydrothermal system towards a central source, Torr said. <h2 style="text-align: center;">Rock Sampling at Filion Project</h2> <a href="https://www.streetwisereports.com/article/2026/02/18/junior-miner-finds-13-1g-t-gold-at-filion-project-in-ontario.htmld?utm_medium=feed" target="_blank" rel="noopener">Torr shared encouraging results</a> from its Filion Gold Project located in northern Ontario in February. The company collected 14 reconnaissance rock grab samples from historical trenches identified via LiDAR technology. These samples, gathered in late 2025, revealed high gold assays, with the highest reaching 13.1 grams per tonne gold (g/t Au) within the Oscar Zone. Notably, six samples recorded over 1 g/t Au, including three samples that exceeded 7 g/t Au across a 140-meter strike. This area of sampling represents just 16% of the approximately 900-meter total strike length of the trenches, which were originally excavated in the 1930s, indicating substantial unexplored potential. The project's proximity to significant infrastructure, being only 2.3 kilometers from the Trans-Canada Highway and near rail and power facilities, enhances the value of any potential discoveries. Historical records indicate minimal exploration since 1948, with some references to limited drilling in the broader corridor but no confirmed drill locations or assay results, suggesting that the area remains largely untested by modern methods. The historical trenches are accessible by road, located just north of Trans-Canada Highway 11 and about 37 kilometers northwest of Kapuskasing, which serves as the operational base for the project. The confirmation of high-grade gold mineralization supports historical accounts and underscores Torr’s view of the Filion structural corridor as a significant, underexplored gold-bearing system. This is further evidenced by soil assays from one of two significant anomalous soil clusters identified in 2025, showing values up to 1.04 g/t Au and elevated levels of elements typical of regional orogenic gold systems. In response to these promising findings, Torr has expanded the Filion Gold Project to cover the entire approximately 60-kilometer strike length of the Filion structural corridor. Remarkably, only about 8% of this corridor has been explored using modern techniques, all by Torr since first staking the project in October 2023. <h2 style="text-align: center;">Higher Price Targets Still Viable, Analyst Says</h2> 1<a href="https://www.streetwisereports.com/article/2026/02/05/exploration-co-poised-for-discovery-in-british-columbias-premier-copper-mining-district.html?utm_medium=feed" target="_blank" rel="noopener">In a comprehensive review on February 5, Technical Analyst John Newell from John Newell & Associates</a> expressed a favorable view of Torr Metals. He commended the company for its strategic emphasis on mining in well-established districts that boast not only existing infrastructure and operational mines but also play a crucial role for major producers. "Torr's strategy is straightforward but disciplined: identify large, underexplored copper-gold systems in proven belts, advance them methodically to drill-ready status, and create discovery leverage in jurisdictions where new deposits are scarce but desperately needed," Newell wrote. From a technical analysis perspective, Torr Metals has achieved its initial objectives. According to Newell, the company's stock successfully hit and surpassed its first technical target of CA$0.145, marking a significant breakout. Despite a tough market in 2024, which saw a sharp downturn for junior explorers, Torr Metals' shares found critical support at the 0.618 Fibonacci retracement level, a key indicator often associated with significant lows in developing trends. Subsequently, the stock showed recovery signs, forming higher lows and indicating an uptrend. The shares recently reached and exceeded a second target near CA$0.24 but then faced a sharp decline following initially poorly received drill results. This downturn resulted in what Newell described as an island reversal, a technical pattern signaling panic lows and exhaustion selling. However, the stock found support again near the 0.618 retracement level, reinforcing this as a vital structural support. Newell suggests that if this pattern persists, the corrective phase might be deemed complete, with higher chart targets still viable. He has set a mid-range target near CA$0.35 and a higher technical goal near CA$0.48, dependent on ongoing support. "Torr Metals is not a story built on theory alone," Newell emphasized, "It is built on geology, location, and disciplined exploration in one of Canada's most productive copper belts." He noted that with the initial drilling at Kolos completed and a fully funded follow-up program scheduled for 2026, along with several undrilled porphyry targets and a seasoned management team, Torr Metals holds significant discovery potential at a reasonable valuation. For investors comfortable with the risks associated with exploration and looking for exposure to copper and gold discoveries in established regions, Newell recommends Torr Metals as a Speculative Buy. <h2 style="text-align: center;">The Catalyst: Optimism Over Peace Talks</h2> Copper prices reached their highest level in over a month, leading a rally among most industrial metals fueled by optimism surrounding potential peace talks between the US and Iran, <a href="https://www.mining.com/web/copper-price-rises-to-six-week-high-as-iran-talks-hope-aids-metals/" target="_blank" rel="noopener">according to a report by Bloomberg published on Mining.com on April 14</a>. Discussions are underway to organize a second round of negotiations in the near future, with Iran considering a temporary halt in shipments through the Strait of Hormuz as a gesture to facilitate setting a time and place for these talks. The aim is to engage in further dialogue before the expiration of an April 7 ceasefire next week, as indicated by sources familiar with the situation, the story noted. The prices of industrial metals have experienced significant volatility since the outbreak of the war in the Middle East at the end of February. Initially, the market was negatively impacted by concerns over rising energy costs and their effect on economic growth. However, prices have since made a partial recovery amid indications that the conflict might be drawing to a close. For instance, aluminum prices soared to a four-year high on Monday due to additional supply disruptions caused by a U.S. blockade, although they dropped by 1.2% on Tuesday as hopes for peace grew. "Investors are pricing in the easing of macro crisis," said Jia Zheng, a trading manager at Suzhou Chuangyuan Harmony-Win Capital Management Co., according to Bloomberg. Zheng also noted that the situation might evolve into a prolonged standoff, similar to the Russia-Ukraine conflict, with a gradually diminishing impact on the markets. On the London Metal Exchange, copper prices increased by 1.8% to close at US$13,284.50 a ton, while aluminum prices decreased by 1.2% to US$3,563 a ton. Meanwhile, all other base metals on the exchange experienced a rise in prices. The copper industry is experiencing a significant transformation, reflected not only in commodity exchanges but also in the economic models guiding mining operations, <a href="https://goldinvest.de/en/copper-before-a-supercycle-mining-industry-significantly-raises-long-term-prices/" target="_blank" rel="noopener">Björn Junker reported for Goldinvest on April 14</a>. A recent analysis by the Chilean consultancy Plusmining, which reviewed over 300 studies from 2015 to 2026, reveals a substantial shift in the pricing assumptions for copper. Historically, from 2015 to 2020, the average base price assumption for copper was around US$3.00 per pound. By early 2026, this average had escalated to approximately US$4.80 per pound, marking an increase of about 60% since 2020. Even when adjusted for inflation, these long-term price assumptions are still about 28% higher than the levels in 2020. Despite these increases, the new price assumptions remain within historical ranges and generally below current spot prices, aligning more closely with long-term market benchmarks, Junker wrote. This suggests that while the industry's expectations have risen, they have not become overly optimistic. Plusmining interprets this adjustment as a balanced response to changing market dynamics rather than a reaction to short-term price fluctuations. The upward revision in copper price assumptions is closely tied to the metal’s evolving role in the global economy, particularly in the context of the energy transition, the Goldinvest piece noted. Copper is crucial for electric vehicles, which use significantly more copper than traditional combustion engines. Additionally, the expansion of renewable energy systems, power grids, and the increasing needs of the data center sector are expected to drive further growth in copper demand. These factors collectively contribute to the industry's anticipation of a continued increase in demand, leading to what is termed a structural deficit where demand could outstrip supply for the foreseeable future.[OWNERSHIP_CHART-11133] This shift is critical for companies, investors, and project developers as the copper price used in economic feasibility studies fundamentally influences the viability, financing, and development phases of mining projects. The Plusmining study underscores that the heightened price assumptions should be seen as reflective of a deeper, structural change in the copper market, focusing more on sustained demand factors rather than mere cyclical trends. This adjustment in the industry’s economic models points to a strategic recalibration based on long-term expectations of market behavior. <h2 style="text-align: center;">Ownership and Share Structure2</h2> About 12% of the company is owned by insiders and close associates. The rest is retail and high-net-worth investors. Top shareholders include Torr Resources Corp. (owned by CEO Malcolm Dorsey) with 4.77%, John Williamson with 3.41%, Sean Richard William Mager with 0.78%, and CEO Malcolm Dorsey with 0.07%. Torr has a market cap of CA$9.22 million and 83.82 million shares outstanding. It trades in a 52-week range between CA$0.08 and CA$0.27 per share. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Torr Metals Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.</li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Torr Metals Inc.</li> <li>Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> <ol> <li>Disclosure for the quote from the John Newell article published on February 5, 2026</li> </ol> <ol> <li>For the quoted article (published on February 5, 2026), Torr Metals has paid Street Smart, an affiliate of Streetwise Reports, US$3,000.</li> <li>Author Certification and Compensation: John Newell of John Newell and Associates was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.</li> </ol> John Newell Disclaimer As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance. <ol> <li>Ownership and Share Structure Information</li> </ol> The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30980"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30980" width="0" height="0"> ( Companies Mentioned: TMET:TSX.V, ) TMET:TSX.V Wed, 15 Apr 2026 00:00:00 PST Exploration Co. Begins Trading, Chen Lin Says Stock Could Have 'Big Movement' https://www.streetwisereports.com/article/2026/04/15/exploration-co-begins-trading-chen-lin-says-stock-could-have-big-movement.html Source: <a href="https://www.streetwisereports.com/article/2026/04/15/exploration-co-begins-trading-chen-lin-says-stock-could-have-big-movement.html?utm_medium=feed">Streetwise Reports 04/15/2026</a> Tincorp Metals Inc. (TIN:TSXV ; TINFF:OTCMKTS) just acquired a huge gold-copper project. Read on to see what two experts are saying about this company.Tincorp Metals Inc. (TIN:TSXV; TINFF:OTCMKTS) <a href="https://www.stockwatch.com/News/Item/Z-C!TIN-3806467/C/TIN" target="_blank" rel="noopener">announced</a> on April 14, 2026, that the management information (Circular) and proxy-related materials for its upcoming annual meeting of shareholders are posted under the company's profile on SEDAR+ and the company's website. The meeting is scheduled for May 5, 2026. Upon commencement, shareholders will be asked to: <ol> <li>Receive the audited consolidated financial statements of the company for the financial year ended December 31, 2025, together with the auditors' report;</li> <li>Fix the number of directors and elect the directors of the company;</li> <li>Appoint the auditors of the company;</li> <li>Consider and, if deemed advisable, approve an ordinary resolution approving the company's omnibus equity incentive plan;</li> <li>To consider, and if deemed advisable, to pass, with or without variation, an ordinary resolution, approving the acquisition authorizing and approving the company's acquisition of all the issued and outstanding shares of Santa Barbara Metals Inc., all as more particularly described in the Circular;</li> <li>To consider, and if deemed advisable, to pass, with or without variation, an ordinary resolution, approving the issuance of 43.75 million subscription receipts of the company (the "Subscription Receipts") at a price of CA$0.40 per Subscription Receipt for aggregate gross proceeds to the Company of up to CA$17.5 million, including the issuance of such number of Subscription Receipts purchased by certain insiders of the company, all as more particularly described in the Circular.</li> </ol> The relevant meeting materials will be mailed to shareholders prior to the meeting. Shareholders can vote electronically, and proxies must be received by May 1, 2026. Tincorp Metals Inc. is an exploration company that worked with Silvercorp Metals Inc. (SVM:TSX ; SVM:NYSE) to acquire Santa Barbara Metals Inc., which holds a 100% interest in the Santa Barbara Gold-Copper Project and the Zamora Copper-Gold Belt in southeastern Ecuador. The company also owns 100% of the Porvenir Project and will acquire a 100% interest in the nearby SF Project in Bolivia. <h2 style="text-align: center;">Copper and Gold Floating During War</h2> "Copper rose to the highest level in more than a month as most industrial metals rallied on optimism that the US and Iran will restart peace talks. . . Copper rose 1.8% to settle at US$13,284.50 a ton on the London Metal Exchange," <a href="https://www.mining.com/web/copper-price-rises-to-six-week-high-as-iran-talks-hope-aids-metals/" target="_blank" rel="noopener">reported Mining.com on April 14, 2026</a>. On the same day, <a href="https://tavicosta.substack.com/p/the-mining-cycle?utm_source=post-email-title&publication_id=7636229&post_id=194257271&utm_campaign=email-post-title&isFreemail=false&r=4uo03n&triedRedirect=true&utm_medium=email" target="_blank" rel="noopener">Tavi Costa agreed</a>, noting that, "Copper has remained remarkably resilient despite the recent broader market selloff, and it increasingly looks like a metal setting up for a meaningful move higher." For Gold, <a href="https://www.kitco.com/news/article/2026-04-16/modest-price-gains-gold-silver-technical-buying" target="_blank" rel="noopener">Jim Wyckoff reported for Kitco</a> on April 16, 2026, writing, "Gold and silver prices are posting mild gains in early U.S. trading Thursday. Technically related buying from the shorter-term futures traders is featured today, as both metals are in fledgling near-term price uptrends on their daily bar charts. June gold was last up US$15.70 at US$4,839.30." <h2 style="text-align: center;">Experts Moving on Stock</h2> On April 13, 2026, Chen Lin of What is Chen Buying? What is Chen Selling? wrote: "There is a new junior starting trading tomorrow, TIN.v. They just acquired a huge gold-copper project, SVM. They will likely be renamed to reflect the new gold and copper assets. This is a huge project, 4.1 million oz of gold and almost 500 million lb of copper — 0.5-0.7g/ton gold and 0.09% copper, open pit. They are looking to drill and expand the existing resource to hopefully 5 million oz or more. They are also working on the recovery from the metallurgical studies. At CA$0.50, the company is trading at CA$7/oz, extremely cheap. The financing was mostly taken by insiders and Silvercorp. Usually, this kind of stock can have a big movement when trading resumes. They are planning to come to my panel in May." [OWNERSHIP_CHART-11578] <a href="https://thegoldadvisor.com/paydirt-prospector/newsletters/alert-buy-a-tranche-of-this-stock-today/" target="_blank" rel="noopener">Jeff Clark and Daniel Flynn of The Gold Advisor weighed in on Tincorp</a> on April 14, 2026, saying, "Shares are just now starting to trade. And it's deeply undervalued relative to peers." They went on to say that, "There's a good chance this stock will quickly get valued higher once the market sees what they have. I wouldn't go all in, given the volatility of the market right now. . . Note I participated in an earlier private placement so already own the stock. If that bothers you, feel free to pass, but I'm bringing this opportunity to you because of the imminent revaluation I see." <h2 style="text-align: center;">Tincorp Making Moves in Q2</h2> According to <a href="https://tincorp.com/site/assets/files/5779/tincorp-corppres-april-2026.pdf" target="_blank" rel="noopener">Tincorp's investor presentation</a>, upcoming company catalysts include the shareholder meeting on May 5, 2026, the closing of the transaction shortly after the shareholder vote, the commencement of a Phase 1 Drill Campaign in Q2 of 2026, and the first assays in Q2. <h2 style="text-align: center;">Ownership & Share Structure1</h2> Tincorp Metals Inc. has a market cap of CA$82.59 million, with 71.20 million shares outstanding. The company's 52-week range is CA$0.14-CA$1.33. Institutions own 0.03% of shares, while Strategic Investors own 29.13%. Management & Insiders own 14.09%, and the remaining 56.75% of shares are held by Retail. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. </li> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30979"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30979" width="0" height="0"> ( Companies Mentioned: TIN:TSXV;TINFF:OTCMKTS, ) Wed, 15 Apr 2026 00:00:00 PST Copper, Gold Explorer With Promising IP Survey Results to Start Drilling in Montana https://www.streetwisereports.com/article/2026/04/15/gold-explorer-with-promising-ip-survey-results-to-start-drilling-in-montana.html Source: <a href="https://www.streetwisereports.com/article/2026/04/15/gold-explorer-with-promising-ip-survey-results-to-start-drilling-in-montana.html?utm_medium=feed">Streetwise Reports 04/15/2026</a> Domestic Metals Corp. (DMCU:TSX; DMCUF:OTCQB; 03E0:FSE) is set to drill on the Smart Creek project in mining-friendly Montana. See why one expert recommends the stock. Mineral exploration company <a href="https://www.streetwisereports.com/pub/co/11313?utm_medium=feed" target="_blank" rel="noopener">Domestic Metals Corp. (DMCU:TSX; DMCUF:OTCQB; 03E0:FSE)</a> is dedicated to uncovering large-scale copper and gold deposits in historically significant mining regions across the Americas that have economically favorable grades. Its Smart Creek Copper-Gold-Silver Project, located in the mining-friendly state of Montana, features extensive copper mineralization at the surface. It presents four promising exploration targets: porphyry copper, epithermal gold, replacement, and exotic copper, all within excellent host rocks for mineral deposition, the company said. The company is also guided by a seasoned management team and a skilled technical team, including Gordon Neal, who was one of the founding members of MAG Silver Corp. (recently purchased by Pan American Silver Corp.) before moving on to serve as the vice president Corporate Development for Silvercorp Metals and president of New Pacific Metals. According to Domestic's website, Neal has raised more than CA$750 million in the resource sector and serves on multiple metals and mining company boards. Domestic's Advisory Board includes experienced geologists Dan MacNeil and Alan Wainwright and Technical Adviser Dr. Peter McGraw, who was instrumental in a number of mineral discoveries in Mexico, including MAG's Juanicipio mine. The company is earning up to a 60% interest in the project through an option agreement with Rio Tinto, which retains a 40% interest and provides technical support. Domestic Metals is set to start a 9,000-meter drill program spread across 36 sites at the Sunrise, Smart Creek, and Radio Tower targets at the project by the end of April. <h2 style="text-align: center;">Results of IP Geophysical Survey</h2> Earlier this month, <a href="https://domesticmetals.com/news/multiple-large-chargeability-features-support-porphyry-crd-targets-at-smart-creek-project-montana/" target="_blank" rel="noopener">Domestic announced the results of a recent induced polarization (IP) geophysical survey</a> conducted at Smart Creek. The survey revealed chargeability features that enhance the project's potential for significant mineral deposits and suggest the presence of extensive porphyry copper style zones and carbonate replacement (CRD)/skarn copper-gold-silver mineralization, aligning with previously identified alteration footprints and high-grade sampling results. The IP survey, which was carried out by TMC Geophysics from February 6 to March 2, covered 26 line-kilometers using a pole-dipole electrode array. The findings from the survey indicate that the chargeability features could represent subsurface sulfide mineralization related to porphyry copper, CRD, and/or skarn types, which have not been drill tested before on this property. Notably, the survey delineated chargeability at several targets within the project area, including Smart Creek, Smart Creek Exotic, Sunrise, and Radio Tower, significantly boosting confidence in these previously identified drill targets. "The Smart Creek project continues to give us better than expected results," Neal said. "These new geophysical data will further help us in vectoring toward the center of porphyry and CRD target mineralization." Neal also noted that the geologists have refined their targets based on both the high-grade metal results previously obtained and the new IP data. This spring's drilling represents a significant step forward in Domestic Metals' efforts to explore and potentially develop the Smart Creek Project, underlining the company's commitment to leveraging advanced geophysical techniques to guide its exploration strategies. <a href="https://domesticmetals.com/news/domestic-metals-announces-closing-of-final-tranche-of-private-placement-and-announces-7-0-million-financing/" target="_blank" rel="noopener">In an April 14 release</a>, Domestic Metals announced the closing of the final tranche of a private placement. In this final tranche, the company issued 874,286 units at a price of CA$0.28 per unit, raising gross proceeds of CA$244,800.08. Across both tranches of the offering, a total of 12,079,791 units were issued, generating total gross proceeds of CA$3,382,341.48. The offering is pending final acceptance by the TSX Venture Exchange (TSXV). The net proceeds from this offering are intended to be used for general working capital as well as exploration and development costs. <h2 style="text-align: center;">Results Keep Getting Better, Co. Says</h2> The 2026 IP Geophysical survey at the Smart Creek Project revealed significant findings across multiple targets, indicating potential for extensive mineralization, the company said. The survey included a line approximately 350 meters west of historical data collected by Rio Tinto in 2021 at the Smart Creek Target that showed that the chargeability feature extends further west than previously known, marking it as a high-priority drill target with potential for porphyry copper style mineralization. At the Smart Creek Exotic Target, another line was added to infill the gaps from a 2021 Rio Tinto IP geophysical survey. This line revealed a 2.5-kilometer-long IP chargeability feature that runs northwest to southeast, extending from Smart Creek to the southern Smart Creek Exotic Targets. This newly identified feature, which extends west of previous historic drilling, represents another high-priority porphyry copper drill target for Domestic Metals. In a conversation with Streetwise Reports, Neal noted that the company's expert geologists told him, "They would not be surprised given what Rio's done and what they see in the geophysics and what they've seen in the sampling if we pulled 150 meters of 1.5% to 2% copper. It would not surprise them at all." Neal said even just the surface samples are showing "numbers I have never seen in my 35 years of soil sampling. It's crazy." He continued, "Every time we test it, it gives us results that are better than we expected," Neal said about the project during a company webinar with shareholders on April 14. "This doesn't happen very often." <h2 style="text-align: center;">'Montana History is Mining'</h2> <a href="https://www.distinctlymontana.com/modern-mining-montana" target="_blank" rel="noopener">According to Bryan Spellman writing for Distinctly Montana in 2024</a>, "Montana history is mining." John White discovered gold on Grasshopper Creek in 1862, a time when the area was part of the Dakota Territory. This discovery led to the establishment of the town of Bannack, which shifted through various territorial designations before Sidney Edgerton lobbied President Lincoln to create Montana Territory. Mining has been a central theme in Montana's identity, prominently featured on the state's Great Seal and flag with a miner’s shovel and pick and the motto "Oro Y Plata" (Gold and Silver). Mining has left its mark on nearly every corner of Montana, Spellman said. By 1911, the town of Butte, known as the Richest Hill on Earth, housed a quarter of the state's population. According to IBISWorld, in 2018, the mining sector contributed almost US$2 billion to Montana's GDP and employed over 12,000 people, he noted. Currently, active mining operations are spread across 29 of Montana’s counties, extracting 26 different minerals. The most commonly mined minerals are gold, silver, copper, lead, and zinc, with uranium also present in 11 counties, though no active uranium mines exist in Montana today. Some minerals are only mined in one or two counties, with platinum being extracted in just three. Gold mining, which initially spurred the rush of prospectors to Montana, continues to play a significant role in the state’s mining landscape, Spellman said. The Bureau of Land Management reports that there are 4,913 gold mines across Montana, with gold being the primary mineral in five of the ten counties with the most mines. Gold mining activities span 30 of Montana’s 56 counties. Despite the presence of large mining companies, many individuals still engage in mining, living as modern-day prospectors. <a href="https://www.fraserinstitute.org/studies/annual-survey-mining-companies-2025" target="_blank" rel="noopener">The Fraser Institute's latest survey of mining jurisdictions</a>, Montana scored a 69 on its Policy Perception Index, which measures the overall policy attractiveness of mining jurisdictions. According to the Fraser Institute, the index is based on survey responses about policy factors that affect investment decisions, including regulation, taxation, legal systems, infrastructure, political stability, security, labor regulations, and labor and skills availability. The company noted that local jurisdictions are also friendly. Domestic's spring drilling is fully permitted and getting new permits is "relatively quick," Geologist Advisor Alan Wainwright said during the company webinar on April 14. "The permits are relatively straightforward and not that time-consuming compared to other places I've worked in in western USA and parts of Arizona, for example, where it can take up to several years to get a permit for a drill hole," Wainwright noted. <h2 style="text-align: center;">Analyst: Buy 'Before the Drills Go Into the Ground'</h2> <img class="float_left" src="https://www.theaureport.com/images/auto_up/202641595106_ThomsonDomsticLongTermChart.png" alt="" width="780" height="553" />1<a href="https://www.streetwisereports.com/article/2026/02/08/a-drill-ready-montana-copper-project-with-impressive-price-targets.html?utm_medium=feed">Technical Analyst Stewart Thomson reviewed the stock on February 9</a> for Streetwise Reports, noting that "savvy junior mining stock investors know the most money is usually made, by buying before the drills go into the ground." Domestic Metals, with its four porphyries, is increasingly likely to see substantial results from its thorough exploration efforts, Thomson noted. The involvement of Rio Tinto, a company with substantial resources, could potentially bring the project to production, potentially resulting in significant gains for both Domestic Metals and its shareholders, he said. The company's prospects are reflected in its stock chart, which suggests a promising outlook when viewed long-term (at left), Thomson said. This broader perspective highlights significant price targets and a notable increase in trading volume — a positive sign given the project's scope, the favorable jurisdiction, and the company's competent management team. The anticipation of forthcoming positive news could propel the stock to a short-term target of CA$1. Should the potential of even one of the four porphyries be partially realized, reaching a medium-term target of CA$3.50 seems feasible. The stock's short-term technical indicators are also favorable, showcasing an exciting inverse Head & Shoulders pattern and an oversold condition on the 14,3,3 series Stochastics oscillator, Thomson said. A detailed examination of the daily chart reveals even more promising signs, with the 14,7,7 series Stochastic oscillator suggesting a significant rally could soon occur from the right shoulder low. This pattern points to a potential rise to the CA$0.60 zone, serving as an intermediate step towards the main target prices of CA$1 in the short term, CA$3.50 in the medium term, and CA$6.60 in the long term. "Critical metal copper, four porphyries, great management, a major league partner (Rio Tinto), a tier one jurisdiction, and all technical analysis lights are green!" Thomson said. "This makes the stock a Speculative Buy." <h2 style="text-align: center;">The Catalyst: A Significant Shift in Copper Demand</h2> Copper price forecasts, crucial for mining investment decisions, have surged by about 60% since 2020, reflecting a robust future for the metal, <a href="https://www.mining.com/copper-outlook-strengthens-as-long-term-assumptions-climb/">as reported by Mining.com on April 13</a>. Research from the Chilean consultancy Plusmining, which analyzed over 300 studies from 2015 to 2026, showed that base-case copper price estimates rose from around US$3 per pound in 2015-2020 to approximately US$4.80 per pound by early 2026. Despite inflation adjustments, these projections are still about 28% higher in real terms compared to 2020, yet they remain below current spot prices and within historical norms. Andrés González, head of Mining Industry Analysis and the study's author, noted, "These patterns suggest companies are not materially over-optimistic, despite raising their long-term expectations," emphasizing that the assumptions are based on observable market benchmarks rather than short-term fluctuations. The report highlights a significant shift in copper demand due to the global move towards renewable energy, with increased needs from electric vehicles, renewable energy systems, power grids, and data centers. This demand surge is expected to outpace supply, creating a structural deficit in the industry, exacerbated by challenges such as declining ore grades and complex project development processes. The average lead time from discovery to production for mining projects is 17 years, indicating that projects approved now will not produce significant output until the 2040s. Recent operational issues at major mines like Grasberg, Kamoa-Kakula, and El Teniente in 2025 have already strained supplies, pushing London Metal Exchange copper prices above $6 per pound in early 2026. González highlighted, "The implications for supply are significant," pointing out that projects previously deemed uneconomic are being reassessed and sidelined assets are re-entering development stages. This has led to increased capital investment as producers aim to secure future copper resources. [OWNERSHIP_CHART-11313] In related news, <a href="https://www.reuters.com/world/americas/middle-east-war-drives-up-codelco-copper-costs-chile-2026-04-13/">Fabian Cambero of Reuters reported</a> that despite cost increases due to the Middle East conflict, Codelco, the world's top copper producer, is on track to meet its 2026 production targets. Codelco's Chairman Maximo Pacheco confirmed the company's plans to produce 1.344 million metric tons of copper this year, aiming to increase to 1.7 million tons by 2030. The conflict has raised Codelco's cash costs by at least 10 cents per pound, a significant amount according to Pacheco. He also mentioned that operational continuity is a major industry challenge, although Codelco has mitigated some impacts by securing a year's supply of sulfuric acid before prices rose. Despite a production dip in the first quarter due to maintenance, output levels remained within expected ranges. <h2 style="text-align: center;">Ownership and Share Structure2</h2> About 16% of the company is held by insiders and management. The rest is retail. Director David Reid is the top shareholder with 7.58%. Its market cap is CA$23.13 million with 60.07 million shares outstanding. It trades in a 52-week range of CA$0.13 and CA$0.41. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Domestic Metals Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.</li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Domestic Metals Corp.</li> <li>Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Disclosure for the quote from the Stewart Thomson article published on February 9, 2026 <ol> <li>For the quoted article (published on February 9, 2026), the Company has paid Street Smart, an affiliate of Streetwise Reports US$3,500.</li> <li>Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts. The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.</li> </ol> <ol start="2"> <li>Ownership and Share Structure Information</li> </ol> The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30970"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30970" width="0" height="0"> ( Companies Mentioned: DMCU:TSX; DMCUF:OTCQB; 03E0:FSE, ) DMCU:TSX; DMCUF:OTCQB; 03E0:FSE Wed, 15 Apr 2026 00:00:00 PST Gold Co. Strikes Colossal Gold Intersection at Silver Hills, NC https://www.streetwisereports.com/article/2026/04/15/gold-co-strikes-colossal-gold-intersection-at-silver-hills-nc.html Source: <a href="https://www.streetwisereports.com/article/2026/04/15/gold-co-strikes-colossal-gold-intersection-at-silver-hills-nc.html?utm_medium=feed">Bob Moriarty 04/15/2026</a> Bob Moriarty of 321gold.com shares his thoughts on Metalsource Mining Inc. (MSM:CSE; SFRIF:OTC; E9Z:FSE) after their recent drill results.In January of this year,<a href="http://www.321gold.com/editorials/moriarty/moriarty011326.html" target="_blank" rel="noopener"> I introduced my audience </a>to an incredibly promising fledgling company with a pair of ventures in North Carolina offering enterprise-transforming possibilities. Recently unveiled drilling outcomes suggest they have already achieved a grand slam. When I composed the article three months prior, my intention was to enlighten my readers about the underlying narrative. I believe that was effective. However, evidently, the ultimate verifier is the drill bit. On April 14, the company, Metalsource Mining Inc. (MSM:CSE; SFRIF:OTC; E9Z:FSE), <a href="https://www.metalsourcemining.com/20260413-metalsource-mining-intersects-48-04-g-t-aueq-over-12-62m-including-210-72-g-t-aueq-over-2-74m-extends-mineralization-down-dip-195m-continues-to-expand-gold-silver-and-base-metal-mineralization" target="_blank" rel="noopener">unveiled scorching results</a> that propelled the stock price from a previous day's close of CA$1.60 to an intraday peak of CA$2.29, representing a 43% surge. Rationality prevailed, and the stock experienced a sharp decline before stabilizing at CA$1.85, still reflecting a 15% increase for the day. Drill hole SP26-07 encountered 12.62m grading 48.04 grams per tonne gold equivalent (g/t AuEq), which included 6.95m at 85.4 g/t AuEq and 2.74m at a staggering 210.72 g/t AuEq. This equates to over 600 grams/meters and would rank among the most impressive drill holes for any enterprise with any project. I inquired with the company's president to provide more details about their ongoing drilling campaign. I am aware they secured CA$7 million in funding and have finished 15 holes, but he has not responded to me yet. Undoubtedly, they require many more holes before establishing a "43-101 resource", but hole 07 has established a remarkably high standard. This is a company-altering hole over a recognized resource. With a market capitalization of a mere CA$115 million, it remains undervalued, but we necessitate the disclosure of additional drill holes. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Bob Moriarty: I, or members of my immediate household or family, own securities of: None. My company has a financial relationship with: Metalsource Mining Inc. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.</li> <li>Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. </li> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a><img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30968"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30968" width="0" height="0"> ( Companies Mentioned: MSM:CSE;SFRIF:OTC;E9Z:FSE, ) Wed, 15 Apr 2026 00:00:00 PST New District-Scale Survey Targets Expansion Across 65-Kilometre Gold Trend https://www.streetwisereports.com/article/2026/04/15/new-district-scale-survey-targets-expansion-across-65-kilometre-gold-trend.html Source: <a href="https://www.streetwisereports.com/article/2026/04/15/new-district-scale-survey-targets-expansion-across-65-kilometre-gold-trend.html?utm_medium=feed">Streetwise Reports 04/15/2026</a> Galway Metals Inc. (GWM:TSX.V; GAYMF:OTCQB) has launched an airborne geophysical survey at its Clarence Stream project in New Brunswick.<a href="https://www.streetwisereports.com/pub/co/517?utm_medium=feed" target="_blank" rel="noopener">Galway Metals Inc. (GWM:TSX.V; GAYMF:OTCQB)</a> announced <a href="https://wp-galwaymetalsinc-2023.s3.ca-central-1.amazonaws.com/media/2026/04/GWM_Corporate_Presentation_April-01042026-1.pdfhttps://wp-galwaymetalsinc-2023.s3.ca-central-1.amazonaws.com/media/2026/04/GWM_Corporate_Presentation_April-01042026-1.pdf" target="_blank" rel="noopener">the commencement of a district-scale airborne geophysical survey program at its 100%-owned Clarence Stream high-grade gold project in New Brunswick, Canada.</a> The company announced that the program includes multiple survey components designed to support exploration targeting and expand geological understanding. The Resolve electromagnetic survey is intended to improve near-surface targeting by covering known deposits and extending across the structural trend to identify extensions of mineralization and new deposit-scale targets when integrated with existing VLF coverage. The HeliTEM electromagnetic survey is focused on known deposits to better understand the system at depth and identify potential depth extensions of mineralization. The program also includes systematic district-scale geophysical coverage across the project to support the identification of new targets along strike and beyond currently defined zones. The surveys are being conducted by Xcalibur Smart Mapping. Galway stated that the approach builds on prior geophysical work over the Southwest Deposit, where similar surveys mapped the footprint of mineralization as defined by drilling. The current program is designed to extend this work across the broader project by systematically surveying known deposits to establish a geophysical signature of mineralization and apply that understanding across a 65-kilometer prospective structural corridor. <a href="https://wp-galwaymetalsinc-2023.s3.ca-central-1.amazonaws.com/media/2026/04/GWM_Corporate_Presentation_April-01042026-1.pdf" target="_blank" rel="noopener">Rob Hinchcliffe, President and CEO of Galway Metals, stated in a company news release, </a>"This program is an important step as we continue to advance Clarence Stream on multiple fronts. With four drills currently turning, a resource update expected in the near term, and a PEA planned for later this year, we are building strong momentum across the project." Jason Flight, Vice President of Exploration, explained in a company news release that the program "represents the next step in advancing the project at a district scale" and added that the integration of high-resolution magnetics with shallow and deep-penetrating surveys is aimed at filling gaps in coverage and expanding geophysics across the broader trend. Galway Metals further said that the Resolve survey is expected to refine shallow electromagnetic anomalies and enhance structural resolution, while the HeliTEM survey is designed to map structural architecture at depth and identify potential extensions of mineralization beneath known deposits and along untested corridors. By integrating these datasets, the company aims to transition to a district-scale exploration model and expand its pipeline of drill targets. <h2 style="text-align: center;">Gold Prices React to Geopolitics While Structural Demand and Supply Pressures Shape the Sector</h2> <a href="https://www.kitco.com/news/article/2026-04-13/price-pressure-gold-silver-inflation-worries" target="_blank" rel="noopener">Kitco News reported on April 13 that geopolitical developments and inflation concerns were contributing to near-term volatility in precious metals pricing</a>. The report stated that "gold and silver prices are lower in early U.S. trading Monday" as failed peace talks between the U.S. and Iran "have reignited worries about problematic inflation weighing on global demand for gold and silver." It also noted that June gold futures were down US$43.00 at US$4,744.10, while silver prices declined alongside broader market reactions to energy price movements and geopolitical uncertainty. <a href="https://www.mining.com/op-ed-how-gold-became-national-security-infrastructure/?utm_source=Rock+Daily+%7C+RCKS+Master+Audience&utm_campaign=8e0c6bb3af-EMAIL_CAMPAIGN_2018_04_10_COPY_01&utm_medium=email&utm_term=0_2d6e7dc0d4-8e0c6bb3af-606677560" target="_blank" rel="noopener">An April 12 op-ed by David Zaikin described structural demand trends shaping the gold market,</a> noting that "central banks purchased 863 tonnes in 2025, the fourth consecutive year above 850 tonnes." The piece characterized this activity as part of a broader shift in reserve management, stating that "this is not a speculative rally. It is a structural reallocation by sovereign and institutional buyers." The article also highlighted the role of geopolitical risk in shaping demand, stating that "gold is now part of the national security infrastructure of sovereign states," with central bank accumulation and repatriation reflecting changing views on reserve asset security. <a href="https://vblgoldfix.substack.com/p/china-bans-acid-exports-to-preserve?utm_source=post-email-title&publication_id=456345&post_id=194053169&utm_campaign=email-post-title&isFreemail=true&r=4tebdf&triedRedirect=true&utm_medium=email" target="_blank" rel="noopener">In an April 13 update from VBL, supply chain disruptions tied to the Iran conflict extended into industrial inputs critical to mining operations. </a>The report stated that China was preparing to halt sulfuric acid exports, noting that "the move follows a surge in sulfuric acid prices driven by supply disruptions linked to the closure of the Strait of Hormuz." It further explained that sulfuric acid "is also essential for certain copper extraction processes," highlighting how constraints in related commodity markets were affecting mining and metals supply chains. Analysts cited in the report stated that "replacing Chinese volumes will be difficult given simultaneous shortages in upstream sulfur feedstocks," contributing to ongoing cost pressures across the sector. <h2 style="text-align: center;" data-start="2636" data-end="2675">Project Milestones and Ongoing Work</h2> <a href="https://wp-galwaymetalsinc-2023.s3.ca-central-1.amazonaws.com/media/2026/04/GWM_Corporate_Presentation_April-01042026-1.pdf" target="_blank" rel="noopener">According to the company's April 2026 investor presentation,</a> four drill rigs are currently operating at Clarence Stream, with drilling focused on expanding the current resource and improving geological understanding. Two drill rigs are operating at the South Deposit, one is drilling at the Southwest Deposit, and a fourth rig was added in March to focus on new discoveries. The company reported that metallurgical testing programs are ongoing across the project. Testing has indicated gold recoveries of up to 98% in the Southwest Deposit, and the company stated that metallurgical work is aimed at optimizing a 25-million-pound antimony resource. The presentation also noted that recoveries of up to 98% have been achieved for both gold and antimony. A new mineral resource estimate is underway and is expected to be completed in the second quarter of 2026. The update is expected to include all infill and resource expansion drilling conducted since 2022 across the North, South, and Southwest deposits, including approximately 69,556 meters of drilling from 342 holes. Galway also outlined ongoing and planned engineering and economic work, including pit optimization studies across all three deposits, scoping-level pit designs, preliminary life-of-mine pit scheduling, and the preparation for a preliminary economic analysis. At the Estrades Project in Quebec, the company reported that a preliminary economic assessment has been released and that plans over the next 12 months include continued project optimization. Phase I of the work program under the DOWA joint venture term sheet includes exploration drilling planned for June 2026, additional metallurgical testing, and baseline studies expected to begin in the spring of 2026. <section class="text-token-text-primary w-full focus:outline-none [--shadow-height:45px] has-data-writing-block:pointer-events-none has-data-writing-block:-mt-(--shadow-height) has-data-writing-block:pt-(--shadow-height) [&:has([data-writing-block])>*]:pointer-events-auto R6Vx5W_threadScrollVars scroll-mb-[calc(var(--scroll-root-safe-area-inset-bottom,0px)+var(--thread-response-height))] scroll-mt-(--header-height)" dir="auto" data-turn-id="88aa2b2f-c719-4247-a2d7-9bb0b387dede" data-testid="conversation-turn-11" data-scroll-anchor="false" data-turn="user"></section> <section class="text-token-text-primary w-full focus:outline-none [--shadow-height:45px] has-data-writing-block:pointer-events-none has-data-writing-block:-mt-(--shadow-height) has-data-writing-block:pt-(--shadow-height) [&:has([data-writing-block])>*]:pointer-events-auto [content-visibility:auto] supports-[content-visibility:auto]:[contain-intrinsic-size:auto_100lvh] R6Vx5W_threadScrollVars scroll-mb-[calc(var(--scroll-root-safe-area-inset-bottom,0px)+var(--thread-response-height))] scroll-mt-[calc(var(--header-height)+min(200px,max(70px,20svh)))]" dir="auto" data-turn-id="request-WEB:f1472dba-5a12-441e-a7a8-d9d8dd930e34-7" data-testid="conversation-turn-12" data-scroll-anchor="false" data-turn="assistant"> <div class="text-base my-auto mx-auto pb-10 [--thread-content-margin:var(--thread-content-margin-xs,calc(var(--spacing)*4))] @w-sm/main:[--thread-content-margin:var(--thread-content-margin-sm,calc(var(--spacing)*6))] @w-lg/main:[--thread-content-margin:var(--thread-content-margin-lg,calc(var(--spacing)*16))] px-(--thread-content-margin)"> <div class="[--thread-content-max-width:40rem] @w-lg/main:[--thread-content-max-width:48rem] mx-auto max-w-(--thread-content-max-width) flex-1 group/turn-messages focus-visible:outline-hidden relative flex w-full min-w-0 flex-col agent-turn"> <div class="flex max-w-full flex-col gap-4 grow"> <div class="min-h-8 text-message relative flex w-full flex-col items-end gap-2 text-start break-words whitespace-normal outline-none keyboard-focused:focus-ring [.text-message+&]:mt-1" dir="auto" tabindex="0" data-message-author-role="assistant" data-message-id="48af5e23-f8c3-46ca-95cb-7a3bdab53f89" data-message-model-slug="gpt-5-3" data-turn-start-message="true"> <div class="flex w-full flex-col gap-1 empty:hidden"> <div class="markdown prose dark:prose-invert w-full wrap-break-word dark markdown-new-styling"> <h2 style="text-align: center;" data-start="0" data-end="27">Analyst Sees Significant Valuation Gap With CA$2.20 Target and Buy Rating</h2> <a href="https://www.streetwisereports.com/article/2026/02/18/metals-co-s-dual-project-strategy-positions-it-for-major-re-rating-analyst-says.html?utm_medium=feed" target="_blank" rel="noopener">In a February 18 research report, Red Cloud Securities analyst Ron Stewart initiated coverage of the company, stating it had a "Buy rating and a 12-month price target of CA$2.20 per share." </a>He wrote that "the market has significantly undervalued" the company's primary assets, referring to the Clarence Stream gold-antimony project and the Estrades gold-base metal project. Stewart also outlined valuation metrics, stating that the company "traded at an enterprise value of just US$15.60 per gold-equivalent ounce, compared to a peer group median of US$68 per ounce and average of US$136 per ounce." He further noted that the company's "price-to-NAV multiple of 0.29x also compares to a peer group average of 0.35x." [OWNERSHIP_CHART-517] The report detailed asset-level valuations, stating that Clarence Stream was "valued at CA$208 million (CA$1.62 per share)" and Estrades at "CA$68 million (CA$0.53 per share)," contributing to a total corporate net asset value of "CA$282 million, or CA$2.20 per share." </div> </div> </div> </div> </div> </div> </section> <div class="mt-3 w-full empty:hidden"> <div class="text-center"> <h2 style="text-align: center;">Ownership and Share Structure1</h2> Insiders hold 7.31% of Galway, including 6.62% held by CEO Rob Hinchcliffe. Institutional ownership totals 18.52%, led by Van Eck Associates Corp. at 4.45%, Caisse de dépôt et placement du Québec at 3.33%, and Mackenzie Investments at 3.27%. The remainder of the shares are held by retail investors. Galway has 125.76 million shares outstanding and a market capitalization of CA$90.11 million. The company's 52-week trading range is CA$0.32 to CA$1.01 per share. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a> </div> </div> <div class="pointer-events-none -mt-px h-px translate-y-[calc(var(--scroll-root-safe-area-inset-bottom)-14*var(--spacing))]" aria-hidden="true"> </div>Important Disclosures:<ol> <li>Galway Metals Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.</li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Galway Metals Inc.</li> <li>James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting" target="_blank" rel="noopener">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30965"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30965" width="0" height="0"> ( Companies Mentioned: GWM:TSX.V; GAYMF:OTCQB, ) GWM:TSX.V; GAYMF:OTCQB Wed, 15 Apr 2026 00:00:00 PST Exploration Co. Finds Extensive Gold Stockwork in Argentina https://www.streetwisereports.com/article/2026/04/15/exploration-co-finds-extensive-gold-stockwork-in-argentina.html Source: <a href="https://www.streetwisereports.com/article/2026/04/15/exploration-co-finds-extensive-gold-stockwork-in-argentina.html?utm_medium=feed">Streetwise Reports 04/15/2026</a> Orestone Mining Corp. (ORS:TSXV; ORESF; OTC; O2R2:FSE) outlines broad, mineralized gold zones at Francisca, highlighting potential for major exploration upside.<a href="https://www.streetwisereports.com/pub/co/3986?utm_medium=feed" target="_blank" rel="noopener">On April 14, 2026, </a><a href="https://www.streetwisereports.com/pub/co/3986?utm_medium=feed" target="_blank" rel="noopener">Orestone Mining Corp. (ORS:TSXV; ORESF; OTC; O2R2:FSE)</a> <a href="https://orestone.ca/news/2026/" target="_blank" rel="noopener">announced in a press release</a> that it has completed the Phase 1 exploration program of its Francisca Gold Project in Argentina's Salta Province. The company said, "Mapping and sampling at Francisca has outlined a strongly sericite clay altered gold stockwork system in highly limonitic sericite-clay altered feldspar porphyry and hornfels hosted gold stockwork system." Mapping results of the South Gold zone indicate a stockwork width from 40-70 meters, averaging 50 meters along a 400-500-meter strike length. The press release said, "The zone consists of highly sericite clay altered porphyry and hornfels host rocks cut by a dense stockwork of thin light brown limonite veinlets with thin dark quartz vein centers and thicker dark limonite quartz veins that are both vertical and shallow dipping." At the North Gold zone, the company believes it has found three, sub parallel en-echelon, highly altered and mineralized zones, averaging 40-50 meters in width, with individual strike lengths of 100-150 meters. The two mapped North zones contain sericite altered quartz manganese stockworks. The company collected a total of 675 samples, which varied from 1 to three meters in length, that will be analyzed by fire assay for gold and ICP for 39 multi-element analysis. Orestone is a Canadian company, and its portfolio includes exposure to gold, silver, and copper on properties in Canada and Argentina. The company can earn up to 85% interest in the Francisca property, noting that exploration can be conducted all year and that the area has good infrastructure due to other mining projects. <h2 style="text-align: center;">Gold's Slight Rebound</h2> Amid a chaotic few weeks for the gold market, easing international tensions and interest rates staying lower than expected, the U.S. dollar has weakened, improving the price of gold. <a href="https://www.kitco.com/news/article/2026-04-14/gold-price-testing-4800-resistance-softer-inflation-easing-tensions-weigh" target="_blank" rel="noopener">An article by Neils Christensen for Kitco </a>on April 14 cited Head of Business at XS.com, Simon-Peter Massbni, saying, ". . . the U.S. dollar index has fallen to a six-week low and is testing initial support at 98 points. . . the greenback is seeing renewed selling pressure due to growing expectations that the U.S. and Iran will reach a long-term peace deal, even as initial negotiations have struggled." Massabni argued that the medium-term future of the dollar will depend on U.S. monetary policy coming out of the Federal Reserve and whether meaningful peace talks between the U.S. and Iran can take place. "Gold remains in a consolidation phase, caught between its role as a safe-haven asset and the pressures of a high-interest-rate environment and a strong dollar," Massabni said. <a href="https://finance.yahoo.com/markets/commodities/articles/gold-rises-traders-weigh-renewed-072904572.html" target="_blank" rel="noopener">Bullion rose 2.1% to US$4,841.31 per ounce on April 14</a>. This is an improvement from <a href="https://tradingeconomics.com/commodity/gold/news/541146" target="_blank" rel="noopener">Monday the 12, when President Trump announced his intention to blockade the Strait of Hormuz</a> after failed negotiations with Iran. This 2.1% rebound has some investors less shaky, but still ". . . despite a moderate recovery in recent weeks, bullion has still fallen around 10% since the start of the conflict in late February. A liquidity squeeze in the earlier days of fighting saw investors offloading their gold holdings to cover losses elsewhere," <a href="https://finance.yahoo.com/markets/commodities/articles/gold-rises-traders-weigh-renewed-072904572.html" target="_blank" rel="noopener">wrote Yihui Xie for Bloomberg on April 14, 2026.</a> <h2 style="text-align: center;">First Analyst Price Target Already Met</h2> 1In <a href="https://www.streetwisereports.com/article/2026/03/16/gold-and-copper-discovery-targets-on-two-continents-could-drive-the-next-move.html?utm_medium=feed" target="_blank" rel="noopener">a March 16, 2026, contributed technical analyst opinion for Streetwise Reports</a>, John Newell of John Newell & Associates gave Orestone a 'Speculative Buy' rating, noting that the stock had achieved its previous price target of CA$0.15. Newell has set the second target at CA$0.23 and the third target at CA$0.40. Regarding the company's projects, Newell discussed the Captain target in British Columbia and the Francisca target in Argentina, saying, "Because these projects are located in opposite hemispheres, exploration programs can often advance in one jurisdiction while seasonal conditions slow activity in the other. This creates the potential for more consistent exploration progress and year-round catalysts, something investors often look for in junior discovery stories." [OWNERSHIP_CHART-3986] Newell concluded his opinion with this: "With gold and copper markets strengthening and exploration programs advancing, Orestone is a company worth watching in the junior exploration sector." <h2 style="text-align: center;">Further Exploratory Drilling Planned</h2> Further information regarding additional prospecting and mapping results to the north and south of the known gold-silver zones on the Francisca property will be released in the near future. Regarding the Captain gold porphyry property, <a href="https://orestone.ca/site/assets/files/4039/orestone_mining_corp__presentation_1q26.pdf" target="_blank" rel="noopener">Orestone said</a> that the next phase of exploration will be to drill 2-3 1,000-meter holes into the center of the large MT geophysical conductor. <h2 style="text-align: center;">Ownership & Share Information2</h2> Orestone Mining Corp. has a market cap of CA$7,504,288 million, with 106,993,563 shares outstanding. The company's 52-week range is CA$0.04-CA$0.175. Institutions own 8.13% of shares, while Management & Insiders own 8.00%. The remaining 83.87% of shares are Retail. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a> Important Disclosures:<ol> <li>Orestone Mining Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000. </li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Orestone Mining Corp.</li> <li>Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. </li> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> 1. Disclosure for the quote from the John Newell article published on March 16, 2026. <ol start="1" type="1"> <li>For the quoted article (published on March 16, 2026, Orestone Mining Corp. has paid Street Smart, an affiliate of Streetwise Reports, US$3,500.</li> <li>Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.</li> </ol> John Newell Disclaimer As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance. For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 2. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30963"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30963" width="0" height="0"> ( Companies Mentioned: ORS:TSXV;ORESF;OTC;O2R2:FSE, ) ORS:TSXV;ORESF;OTC;O2R2:FSE Wed, 15 Apr 2026 00:00:00 PST Mining Co. Uncovers 150m Gold Structure at Treasure Island's Moosehead Zone https://www.streetwisereports.com/article/2026/04/15/mining-co-uncovers-150m-gold-structure-at-treasure-islands-moosehead-zone.html Source: <a href="https://www.streetwisereports.com/article/2026/04/15/mining-co-uncovers-150m-gold-structure-at-treasure-islands-moosehead-zone.html?utm_medium=feed">Streetwise Reports 04/15/2026</a> Pirate Gold Corp. (YARR.TSX.V) reports findings from its Treasure Island project in Newfoundland. Pirate Gold Corp. (YARR.TSX.V) has reported high-grade gold findings from the Moosehead Zone and the discovery of the Rib Vein at the Treasure Island project, which spans over 90 kilometers of strike along the Valentine Lake Fault Zone in Canada's newest gold district in Newfoundland, <a href="https://www.pirategold.ca/news/pirate-gold-intercepts-65-1-g-t-au-over-3-25m-in-new-rib-vein-discovery-at-moosehead" target="_blank" rel="noopener">according to an April 13 release</a>. "The discovery of a new high-grade vein structure at the Moosehead Zone exemplifies the potential to expand the mineralized footprint at shallow depths," said Vice President of Exploration Greg Matheson. He noted that while much of the known mineralization occurs in the Eastern and Western trend faults oriented to the northwest, the new linkage structure connecting the two zones can occur oblique to this orientation, opening a new exploration frontier. With sixteen drill holes now defining a 150-meter-long and 90-meter-deep vein domain, the continuity of this structure is quite strong. "It's very early days in understanding the structural complexity of this type of orogenic system," Matheson added. Pirate Gold Executive Chair and Chief Executive Officer Denis Laviolette remarked, "This is exactly what you want to see in a high-grade system. The Rib Vein confirms that gold at Moosehead isn't limited to a single structure. We're now starting to unlock multiple orientations, which is how these systems scale." The recent drilling program has yielded a variety of results across different targets, according to the release. Drill hole PGC-25-014, which tested a regional geophysical target, intersected a deformation zone but did not produce significant gold assay results. In contrast, PGC-25-013, aimed at the northern extension of the Western Trend, intersected a structural zone and returned significant gold assays, including 1.9 grams per tonne (g/t) over 1.15 meters, with a peak of 3.06 g/t over 0.45 meters. Drill holes PGC-26-015, PGC-26-017, and PGC-26-018 targeted the northern extension of the Eastern Trend, with all three intersecting the expected structural zone. Notably, PGC-26-017 reported 1.51 g/t of gold over 1.45 meters. Meanwhile, PGC-25-010 and PGC-26-016, 019, and 022A tested other regional geophysical targets. PGC-25-010 intersected pyrite mineralization at depth, yielding 1.15 g/t over 0.4 meters, while the other holes encountered strong fault zones but did not produce significant gold results. Drilling efforts targeting the Moosehead western trend and the newly discovered Rib Vein, including PGC-26-020, 021, 023, and 028, showed promising results. Highlights from the Rib Vein include PGC-26-021 with 5.17 g/t over 2 meters, including 9.24 g/t over 0.65 meters, and PGC-26-023 with 13.8 g/t over 1.30 meters, including 28.7 g/t over 0.6 meters. PGC-26-028 reported an impressive 65.1 g/t over 3.25 meters, with a peak of 309.5 g/t over 0.65 meters. Drill holes PGC-25-009, 011, 012, and PGC-26-026, 024 targeted the depth extension of the Western Trend. All intersected the Western Trend structure, with visible gold mineralization noted in PGC-25-011, 012, and PGC-26-026. Significant assays included PGC-25-011 with 3.28 g/t over 1.4 meters, PGC-25-012 with 3.54 g/t over 0.9 meters, and PGC-26-026 with 8.33 g/t over 1 meter. Lastly, PGC-26-025 and 027 targeted a southern segment of the Eastern trend, intersecting the fault structure with limited veining and anomalous gold results, while PGC-26-029 was terminated before reaching its target depth. <h2 style="text-align: center;">Three Diamond Drills Turning</h2> The Treasure Island Project is currently advancing with three diamond drills in operation, Pirate Gold noted. Two of these drills are focused on the Crippleback target, while the third is active at the Moosehead Zone. The company advises that while visible gold mineralization has been observed, it does not necessarily indicate high gold assay grades. Samples from the drill core have been or will be sent to a certified laboratory for gold content analysis, and assay results will be shared once they are available. It is important to note that all intervals mentioned are downhole depths, and the true widths are not yet determined, the company said. The discovery of the Rib Vein, which connects the Eastern and Western trends, has returned impressive results, including up to 65.1 g/t of gold over 3.25 meters. Follow-up drilling has traced the vein over approximately 150 meters of strike and 90 meters vertically, confirming its continuity and indicating that it remains open at depth. <h2 style="text-align: center;">Expert: 'Wonderful Numbers'</h2> According to Bob Moriarty of 321gold.com, "For some reason a number of high quality shares are releasing really great assay results lately. Lucky me, I happen to own some of them." Moriarty noted the "incredible" 65.1 g/t gold assay, saying that it's over 211 gram/meters, "Which makes it a home run hole." "Those are wonderful numbers," he told Streetwise Reports. "Two-ounce gold is pretty rare much less over a nice mining width." <h2 style="text-align: center;">A 'Treasure Hunting' Spirit</h2> CEO Laviolette <a href="https://www.proactiveinvestors.co.uk/companies/news/1090533/blackrock-q1-earnings-beat-expectations-driven-by-record-ishares-inflows-1090533.html" target="_blank" rel="noopener">recently spoke with Angela Harmantas of Proactive</a> at the Prospectors & Developers Association of Canada (PDAC) conference in Toronto, where he shared updates on the company's Treasure Island project in Newfoundland. He also announced the launch of a significant drilling program aimed at discovering gold in one of Canada's most promising emerging districts. Laviolette described Pirate Gold Corp's approach as embodying a "treasure hunting" spirit, viewing exploration as a blend of science and calculated risk. "We follow the clues... and then test our theories to see if we could find buried treasure," he explained, highlighting the disciplined geological strategy that guides the company's efforts. Treasure Island is situated in Newfoundland, which Laviolette believes has the potential to become a world-class orogenic gold district, Harmantas wrote. He pointed out the similarities between the company's Moosehead project and other major discoveries in the region, noting that "the rocks are the same... the style of veining is identical, the grades are identical." Although Moosehead is currently at an early stage, the company is focused on expanding known zones through systematic drilling. With active drilling underway, Pirate Gold Corp aims to test multiple targets and increase the project's scale, Harmantas said. Laviolette emphasized that the company is well-funded and ready to aggressively pursue discovery opportunities. He also highlighted Pirate Gold Corp's commitment to transparency, which includes providing regular video updates for investors. "We want people to understand the clues that we're putting together," he said, noting that consistent communication can help build a stronger and more stable shareholder base. <a href="https://stockhouse.com/news/the-market-online-news/2026/04/13/x-marks-spot-pirate-gold-discovers-new-vein-newfoundland" target="_blank" rel="noopener">According to Trevor Abes, reporting for Stockhouse on April 13</a>, the company also keeps the market up to date through a YouTube series called "Pirate Gold Treasure Hunters." You can <a href="https://www.youtube.com/watch?v=0707Ww90PlI" target="_blank" rel="noopener">click here</a> to watch episode 9, which covers Monday's news release. <h2 style="text-align: center;">The Catalyst: Market Hopes for More War Negotiations</h2> On Monday, gold prices declined as investors shifted their focus towards riskier equities, despite the U.S. implementing a blockade of the crucial Strait of Hormuz, <a href="https://www.investing.com/news/commodities-news/gold-prices-fall-as-usiran-jitters-strong-inflation-boost-dollar-4609207" target="_blank" rel="noopener">according to Anuron Mitra writing for Investing.com on April 13</a>. The market's risk appetite was bolstered by hopes for continued negotiations, even though peace talks over the weekend did not yield any agreements. By 3:55 pm ET, spot gold had decreased by 0.1% to US$4,745.13 per ounce, while gold futures fell by 0.4% to US$4,768.07 per ounce. President Donald Trump confirmed that the blockade of the Strait of Hormuz began at 10 a.m. ET, also on Monday, as previously indicated by the U.S. military. This blockade affects vessels entering or leaving Iranian ports and coastal areas. However, the Pentagon clarified that ships not destined for or departing from Iranian ports would still be allowed to pass through the strait. Trump mentioned that 34 ships had navigated the strait on Sunday, marking "by far the highest number since this foolish closure began." The blockade was announced by Trump on Sunday, following 21 hours of negotiations between the U.S. and Iran in Pakistan, which ended without an agreement to extend a two-week pause in hostilities. Initially, oil prices surged above US$100 a barrel on Monday, but later reduced their gains. The ongoing conflict in the Middle East has sparked concerns about a potential energy shock, which could lead to increased inflationary pressures globally. On Friday, data revealed a sharp acceleration in U.S. consumer price growth in March, primarily driven by a war-related rise in gasoline prices. Additional inflation data is expected to be released later this week. Gold, traditionally seen as a reliable hedge against market downturns, is no longer fulfilling that role and is now acting as a high-beta asset, according to Robin Brooks, a Senior Fellow at the Brookings Institution, <a href="https://www.kitco.com/news/article/2026-04-13/gold-high-beta-asset-and-its-safe-haven-status-now-compromised-brookings" target="_blank" rel="noopener">as reported by Ernest Hoffman for Kitco News on April 13</a>. In his recent analysis, Brooks, who is also a former chief economist at the Institute of International Finance and chief FX strategist at Goldman Sachs, argues that gold is currently amplifying market selloffs rather than mitigating them. He noted that during the past six weeks of conflict, gold has dropped by 10%, a much steeper decline than the S&P 500, which has fallen by less than 1%. Brooks points out, "You're not much of a risk hedge if you sell off harder than the S&P 500 in a bad shock. You're the opposite." Brooks explores several theories to explain gold's recent behavior. One theory suggests that emerging market central banks have sold off gold holdings during the recent turmoil, but Brooks clarifies that this is primarily true for Turkey, which sold 128 tons to bolster foreign exchange reserves and defend the Lira, according to Hoffman. He describes Turkey as an outlier, noting that most other emerging markets have abandoned such practices.[OWNERSHIP_CHART-11576] Another theory Brooks discusses is the "debasement trade," which refers to the significant rally in gold over the past year that attracted many new buyers, the article said. These buyers, he suggests, may be more prone to panic during market shocks, contributing to gold's current high-beta behavior. Brooks believes that once these skittish investors exit the market, gold will likely return to its status as a safe-haven asset. He concludes, "So safe-haven status isn't gone forever, it's just contaminated at the moment." <h2 style="text-align: center;">Ownership and Share Structure1</h2> Eric Sprott-owned 2176423 Ontario Ltd. holds about 25%, about 8% is held by insiders and management, and about 1% is held by institutions. The rest is retail. Other top shareholders include Sprott, who owns 3.69% in his own name; the CEO, Laviolette, with 2.82%; Middlefield Capital Corp. with 0.98%, Catherine Hume with 0.46%, and Timothy Foude with 0.32%. Its market cap is CA$94.19 million with 392.45 million shares outstanding. It trades in a 52-week range of CA$0.03 and CA$0.39. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30962"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30962" width="0" height="0"> ( Companies Mentioned: YARR.TSX.V, ) Wed, 15 Apr 2026 00:00:00 PST Canadian Hydrogen Co. Unveils High-Output Natural Hydrogen Tech https://www.streetwisereports.com/article/2026/04/15/canadian-hydrogen-co-unveils-high-output-natural-hydrogen-tech.html Source: <a href="https://www.streetwisereports.com/article/2026/04/15/canadian-hydrogen-co-unveils-high-output-natural-hydrogen-tech.html?utm_medium=feed">Streetwise Reports 04/15/2026</a> Element One Hydrogen & Critical Minerals Corp.'s (EONE:CSE) breakthrough tech could boost output 1,000x, positioning natural hydrogen as a low-cost clean energy alternative.<a href="https://www.streetwisereports.com/pub/co/11547?utm_medium=feed" target="_blank" rel="noopener">Element One Hydrogen & Critical Minerals Corp. (EONE:CSE)</a> announced <a href="https://e1-h2.com/element-one-advances-patent-pending-technology-for-real-time-hydrogen-production-from-naturally-occuring-rock-systems/" target="_blank" rel="noopener">on April 14, 2026</a>, its proprietary, patent-pending technology that can enhance real-time hydrogen production from naturally occurring rock systems. This technology, called Natural Hydrogen Emulation, focuses on the in-situ formation of spinel oxide catalysts derived from metal-bearing rocks, such as olivine. The process leverages naturally occurring iron and nickel within ultramafic and mafic rock formations, enabling the formation of highly active catalytic materials that can accelerate hydrogen formation via water-rock relations. <a href="https://fuelcellsworks.com/2026/02/26/education/how-natural-hydrogen-hiding-deep-in-the-earth-could-serve-as-a-new-energy-source" target="_blank" rel="noopener">According to Fuel Cells Works in a February 26, 2026, report</a>, "Natural hydrogen originates from several geological processes. The most well‑studied mechanism is serpentinization, a reaction where water interacts with iron‑rich rocks known as ultramafics, releasing hydrogen gas." Another process is thermogenic hydrogen formation, where hydrogen and other gases are produced when organic material decays under high heat and pressure. Element One's technological approach could sidestep these processes, facilitating <a href="https://e1-h2.com/element-one-advances-patent-pending-technology-for-real-time-hydrogen-production-from-naturally-occuring-rock-systems/" target="_blank" rel="noopener">". . . real-time hydrogen generation at moderate temperatures and pressures, opening the door to more practical and economically viable deployment</a>." The company reported that laboratory testing had shown that nickel-doped spinel catalysts could increase hydrogen production by more than 1,000 times compared to traditional iron-based systems. When the company combined this technology with olivine-derived fluids, further enhancements to the product were observed. <a href="https://e1-h2.com/element-one-advances-patent-pending-technology-for-real-time-hydrogen-production-from-naturally-occuring-rock-systems/" target="_blank" rel="noopener">COO of Element One, Tim Johnson, said of the announcement</a>, "This breakthrough represents a major milestone in unlocking the potential of natural hydrogen. By creating catalysts directly from the rocks themselves, we are significantly improving reaction efficiency while reducing the need for external inputs. This positions Element One at the forefront of next-generation hydrogen production technologies." A Canadian company, Element One aims to explore, develop, and commercialize natural hydrogen as a green energy source. <h2 style="text-align: center;">Natural Hydrogen Gaining Potential as Clean Energy Source</h2> As a clean energy alternative, natural hydrogen could have the potential to replace or supplement oil and gas. In a conversation with Element One CEO Brad Kitchen on April 14, 2026, Kitchen told Streetwise Reports that natural hydrogen could be produced using their proprietary process for a fraction of the cost of oil and gas. When given the example of US$4.20 per gallon of gas, Kitchen asserted that the same amount of energy could be produced through natural hydrogen for US$0.50. In another example, Kitchen noted that data centers had risen the cost of energy in Cleveland, Ohio, by 30% in 2025, but natural hydrogen could solve this issue. If the product can be gathered and processed on location, which Kitchen seems optimistic about, independent energy could be generated in urban centers, run mines in remote places, or provide rural people with energy at a much lower cost. Due to the abundance of ultramafic rocks, which Kitchen said make up about 7% of the Earth, and the carbon friendly nature of getting natural hydrogen, Kitchen said, "There comes a point where it would make more sense to run the world on hydrogen than on oil and gas," before going on to say, "We're really the leading edge in this technology, and the big thing is it's not some brand-new discovery. It's simply creating natural hydrogen in real time." In June of 2025, reports were already coming out about the potential future of natural hydrogen. <a href="https://royalsociety.org/news/2025/06/natural-hydrogen/" target="_blank" rel="noopener">The Royal Society quoted Professor Barbara Sherwood Lollar CC, FRS, as saying</a>, "Hydrogen is already a US$135 billion industry and is a key component in critical industries such as fertilizer production. As the world searches for cleaner energy options, natural hydrogen could also offer a low-cost, low-carbon addition to our toolkit." Emerging technologies are making hydrogen a viable fuel for cars, planes, ships, and factories. Hydrogen demand around the world is projected to grow from around 90 million metric tons in 2022 to more than 500 million metric tons by 2050," <a href="https://fuelcellsworks.com/2026/02/26/education/how-natural-hydrogen-hiding-deep-in-the-earth-could-serve-as-a-new-energy-source" target="_blank" rel="noopener">said Fuel Cells Works</a>. The article went on to say, "The U.S. Geological Survey estimates there could be more than 5 trillion metric tons of geological hydrogen underground around the world. But only a small fraction of that is estimated to be recoverable, both technically and in terms of reasonable costs. However, even 2% of that total would be more than all proven natural gas reserves on the planet and enough to meet projected demand for the next 200 years, even accounting for increased consumption. In terms of price, Fuel Cells Works argued that the cost could be well worth the rewards: "Because geological processes already performed the production work, early estimates suggest that extraction costs could be one‑tenth the production costs for other traditional hydrogen generation techniques — or possibly even less than that." The scope for hydrogen uses and demands has the potential to expand into both commercial and private consumer industries. "At present, hydrogen demand is mostly from large industrial facilities like petroleum refineries and ammonia plants. Decarbonization efforts could create hydrogen demand from other large industrial buyers but also from smaller, local hydrogen-offtake ventures like vehicle fueling hubs," <a href="https://www.sciencedirect.com/science/article/abs/pii/S0360319925026655?via%3Dihub" target="_blank" rel="noopener">asserted a scientific research paper by Arnout JW. Everts, Jos Bonnie, and Ramon Loosveld for The International Journal of Hydrogen Energy</a> in June 2025. <h2 style="text-align: center;">Element One's Future Plans</h2> <a href="https://e1-h2.com/wp-content/uploads/2026/02/Element-One-Deck-January-2026-Canaccord-Presentation.pdf" target="_blank" rel="noopener">Element One's investor presentation</a> breaks down the company's next steps into three categories: targeting acquisitions, technologies, and development. The presentation lists the targeting acquisition plans as "... research into prospective areas in the continental U.S. outside of the Midcontinental hot spot, inspecting geologically modeled highly prospective areas near established oil and gas infrastructure, and assessing land acquisition and leasing costs. [OWNERSHIP_CHART-11547] As for technologies, the company lists ongoing development with a major U.S. university, exploring further technology for subsurface hydrogen, and garnering funding from various U.S. and Canadian research funds. In development, Element One is continuing exploration on key projects to design drill sites and actively seeking strategic partners for exploration and development. Element One will be implementing field testing of its new technology in the very near future. <a href="https://e1-h2.com/project/union-bay-project/" target="_blank" rel="noopener">Element One's current projects</a> encompass the Foggy Mountain Project, the Star Project, and the HY Project in British Columbia, as well as the Union Bay Project in Alaska. In an April 14, 2026, conversation with Streetwise Reports, CEO Brad Kitchen said, "We're hoping to do field tests on this technology this summer," in reference to today's announcement. <h2 style="text-align: center;">Ownership & Share Information1</h2> Element One Hydrogen & Critical Minerals Corp. has a market cap of CA$7.0 million, with 47 million shares outstanding. The company's 52-week range is CA$0.085-CA$0.32. Management and Insiders own 26.1% of shares, while Strategic Investors own 56.3%. This leaves 17.6% of shares as Retail. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Element One Hydrogen & Critical Minerals Corp. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.</li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Element One Hydrogen & Critical Minerals Corp.</li> <li>Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. </li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30955"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30955" width="0" height="0"> ( Companies Mentioned: EONE:CSE, ) Wed, 15 Apr 2026 00:00:00 PST Bonanza Gold Hits Up to 215 g/t From Untouched Zone as Drilling Expands at Depth https://www.streetwisereports.com/article/2026/04/13/bonanza-gold-hits-up-to-215-g-t-from-untouched-zone-as-drilling-expands-at-depth.html Source: <a href="https://www.streetwisereports.com/article/2026/04/13/bonanza-gold-hits-up-to-215-g-t-from-untouched-zone-as-drilling-expands-at-depth.html?utm_medium=feed">Streetwise Reports 04/15/2026</a> West Red Lake Gold Mines Ltd. (WRLG:TSX.V; WRLGF:OTCQX; UJO:FSE) reports high-grade intercepts from the Austin 904 Complex at Madsen, including 215.46 g/t over 5.35 meters.<a href="https://www.streetwisereports.com/pub/co/5614?utm_medium=feed" target="_blank" rel="noopener">West Red Lake Gold Mines Ltd. (WRLG:TSX.V; WRLGF:OTCQX; UJO:FSE)</a> reported <a href="https://westredlakegold.com/west-red-lake-gold-reports-215-46-g-t-au-over-5-35m-50-34-g-t-au-over-4-05m-and-61-70-g-t-au-over-3m-in-austin-904-complex-madsen-mine/" target="_blank" rel="noopener">drill results from its 100% owned Madsen Mine in the Red Lake Gold District of Northwestern Ontario, Canada, highlighting intercepts from the Austin 904 Complex.</a> Reported results included 5.35 meters grading 215.46 grams per tonne gold, 4.05 meters grading 50.34 g/t gold, and 3 meters grading 61.70 g/t gold. Additional intercepts included 8.65 meters at 13.25 g/t gold, 7.05 meters at 11.56 g/t gold, and 2 meters at 34.35 g/t gold, along with multiple other intervals exceeding 3 g/t gold. These results were drilled from the 13 Level of the Madsen Mine at approximately 650 meters depth and are in addition to results announced on February 25, 2026, which included 219.73 g/t gold over 4.8 meters, 148.36 g/t gold over 3 meters, and 133.13 g/t gold over 2.5 meters. The Austin 904 Complex is described as an approximately 200-meter by 200-meter panel of gold mineralization that has not been historically mined, providing full access to the mineralized zone for mining. This is expected to result in larger stopes and increased efficiency during design and extraction. <a href="https://westredlakegold.com/west-red-lake-gold-reports-215-46-g-t-au-over-5-35m-50-34-g-t-au-over-4-05m-and-61-70-g-t-au-over-3m-in-austin-904-complex-madsen-mine/" target="_blank" rel="noopener">Will Robinson, Vice President of Exploration, stated in the news release</a>, "The 904 Complex in lower Austin is steadily growing into a very important part of the future at Madsen. Having only just gained access to this area for drilling in late 2025, the results received to date are highly encouraging." He added, "We see growth potential at depth in the 904 area and will continue to drill and define this area throughout 2026." Drilling has only begun testing the upper 30 meters of a currently modeled 200-meter by 200-meter mineralized panel, which is believed to be intact and has had no historic mining. The current underground drilling program is focused on further definition of near-term mining inventory and growth of the current mineral resource, with drilling concentrated on higher-grade portions of the Austin and South Austin Zones. The Austin 904 Complex is expected to remain a primary focus of drilling throughout 2026, with initial production from the area expected in the first half of 2027. <div class="flex flex-col text-sm pb-25"> <section class="text-token-text-primary w-full focus:outline-none [--shadow-height:45px] has-data-writing-block:pointer-events-none has-data-writing-block:-mt-(--shadow-height) has-data-writing-block:pt-(--shadow-height) [&:has([data-writing-block])>*]:pointer-events-auto scroll-mt-[calc(var(--header-height)+min(200px,max(70px,20svh)))]" dir="auto" data-turn-id="request-WEB:482c1d25-1f66-4e4e-b485-859d3c4204ef-7" data-testid="conversation-turn-10" data-scroll-anchor="true" data-turn="assistant"> <div class="text-base my-auto mx-auto pb-10 [--thread-content-margin:var(--thread-content-margin-xs,calc(var(--spacing)*4))] @w-sm/main:[--thread-content-margin:var(--thread-content-margin-sm,calc(var(--spacing)*6))] @w-lg/main:[--thread-content-margin:var(--thread-content-margin-lg,calc(var(--spacing)*16))] px-(--thread-content-margin)"> <div class="[--thread-content-max-width:40rem] @w-lg/main:[--thread-content-max-width:48rem] mx-auto max-w-(--thread-content-max-width) flex-1 group/turn-messages focus-visible:outline-hidden relative flex w-full min-w-0 flex-col agent-turn"> <div class="flex max-w-full flex-col gap-4 grow"> <div class="min-h-8 text-message relative flex w-full flex-col items-end gap-2 text-start break-words whitespace-normal outline-none keyboard-focused:focus-ring [.text-message+&]:mt-1" dir="auto" tabindex="0" data-message-author-role="assistant" data-message-id="2d1c4089-8089-4326-a80c-884bd984ea44" data-message-model-slug="gpt-5-3" data-turn-start-message="true"> <div class="flex w-full flex-col gap-1 empty:hidden"> <div class="markdown prose dark:prose-invert w-full wrap-break-word dark markdown-new-styling"> <h2 style="text-align: center;" data-start="0" data-end="77">Gold Demand, Supply Constraints, and Geopolitics Reshape the Metals Landscape</h2> </div> </div> </div> </div> </div> </div> </section> </div> According to an April 11 note from Couloir Capital, "gold prices rose 1.5% during the week, supported by persistent geopolitical uncertainty as investors assessed the fragile US-Iran ceasefire and ongoing tensions in the Middle East." The report stated that unresolved issues and continued disruptions in the Strait of Hormuz kept risk sentiment elevated, while a higher-than-expected U.S. CPI print later in the week pushed Treasury yields higher and weighed on non-yielding assets. The same report noted that "silver gained 4.0% during the week as investors rotated into silver’s dual safe-haven and industrial demand narrative," while broader precious metals, including palladium and platinum, also moved higher in response to geopolitical developments. <a href="https://www.mining.com/op-ed-how-gold-became-national-security-infrastructure/?utm_source=Rock+Daily+%7C+RCKS+Master+Audience&utm_campaign=8e0c6bb3af-EMAIL_CAMPAIGN_2018_04_10_COPY_01&utm_medium=email&utm_term=0_2d6e7dc0d4-8e0c6bb3af-606677560" target="_blank" rel="noopener">An April 12 op-ed by David Zaikin described structural demand trends in the gold market, stating that central banks purchased 863 tonnes in 2025</a>, marking "the fourth consecutive year above 850 tonnes." He wrote that "over forty central banks accumulated simultaneously, making the demand base structurally resilient rather than dependent on any single buyer." The piece also highlighted that total global gold demand exceeded 5,000 tonnes for the first time, valued at US$555 billion, while gold ETFs recorded 801 tonnes of inflows and bar and coin demand reached a twelve-year high. Zaikin stated, "This is not a speculative rally. It is a structural reallocation by sovereign and institutional buyers responding to a world in which the rules governing reserve asset safety have changed." Zaikin also pointed to supply-side constraints, writing that mine supply of approximately 3,672 tonnes in 2025 "grew only marginally despite prices nearly doubling in 18 months," with total supply rising just 1% year-over-year. He added that "the supply response has been muted at precisely the moment sovereign demand is most intense," while recycling increased only 3%. The report further stated that "the chokepoints are not the mines. They are the refineries, the compliance architectures, the logistics corridors, and the clearing systems," emphasizing the role of downstream infrastructure in determining market flow. <a href="https://vblgoldfix.substack.com/p/china-bans-acid-exports-to-preserve?utm_source=post-email-title&publication_id=456345&post_id=194053169&utm_campaign=email-post-title&isFreemail=true&r=4tebdf&triedRedirect=true&utm_medium=email" target="_blank" rel="noopener">In an April 13 report, VBL highlighted additional pressures across industrial inputs tied to metals production, noting that China was preparing to halt sulfuric acid exports as supply disruptions linked to the Iran conflict affected global sulfur availability</a>. According to reporting cited by VBL, the restriction followed a surge in sulfuric acid prices driven by disruptions tied to the closure of the Strait of Hormuz, a route accounting for roughly one-third of global sulfur production. The report stated that sulfuric acid is "a core input in phosphate fertilizers and is also essential for certain copper extraction processes," linking energy markets, agriculture, and metals production. VBL added that "China’s withdrawal from export markets is expected to exacerbate an already tightening supply environment," while analysts warned that replacing Chinese volumes would be difficult given simultaneous shortages in upstream sulfur feedstocks. The report stated that this combination of reduced exports and constrained supply presented "a dual shock to global industrial chains," raising the risk of sustained cost pressures across mining operations and related industries. Taken together, these sources described a sector shaped by constrained supply growth, shifting geopolitical dynamics, and continued demand from both institutional and industrial participants. <h2 style="text-align: center;" data-start="0" data-end="78">Third-Party Views Track Production Milestone and Ongoing Drilling Activity</h2> <a href="https://thegoldadvisor.com/paydirt-prospector/newsletters/our-new-gold-pick-hits-the-ground-running-in-colombia-plus-news-from-four-more-stocks/" target="_blank" rel="noopener">On February 19, Jeff Clark and Daniel Flynn wrote in The Gold Advisor, "Another week, another solid set of assays from drilling at West Red Lake Gold's Rowan deposit in Ontario's Red Lake District."</a> They highlighted results from Vein 006b, including 1 meter grading 84.3 g/t gold in Hole RLG-25-198 and 5.5 meters grading 14.42 g/t gold in Hole RLG-25-201. They noted that while these intercepts did not match a previously reported 141.5 gram-meter intercept from Vein 013, they remained relevant to development plans. Clark and Flynn stated that Rowan, located about 80 kilometers from Madsen, was being advanced as part of a hub-and-spoke approach, with Madsen acting as a central processing hub and Rowan contributing high-grade material. They wrote that drilling was focused on upgrading resources and expanding key veins, particularly Veins 006b and 013, ahead of a combined pre-feasibility study. They added that recent Vein 006b results, together with earlier Vein 013 intercepts, supported confidence in grade continuity and potential inclusion of these veins in future resource updates and the pre-feasibility study. They also stated that expanding the number of mineable veins could influence project economics, while consistent high-grade results across a broader area suggested additional expansion potential through further drilling. Clark and Flynn noted that the market appeared to be waiting for larger catalysts, stating that the stock increased about 1% following the news. They maintained a "BUY" recommendation and wrote that Vein 006b was emerging as a potential high-grade contributor to the future mine plan. They also stated, "As a reminder, WRLG's longer-term goal is to build a 100,000 oz/year production platform in Red Lake. That, among other things, makes the stock a Buy," and added that after a 15% pullback since prior assay results, the shares offered an entry point ahead of upcoming developments. <a href="https://thegoldadvisor.com/paydirt-prospector/newsletters/strong-updates-from-6-stocks-as-volatility-creates-opportunity/" target="_blank" rel="noopener">In a March 26 follow-up report, Jeff Clark and Daniel Flynn wrote that infill drilling at the Fork deposit was intended to support a future development decision, stating that "the latest drilling is aimed at increasing confidence in that resource ahead of a future development decision."</a> They indicated that recent results, although narrower and lower grade than some historical intercepts, continued to align with expectations, noting that "they still support that broader picture." Reported highlights included "1m @ 41 g/t gold, including 0.5m @ 77.8 g/t gold" and "4.5m @ 5.8 g/t gold." In the same March 26 report, geologist Sharyn Alexander wrote that "the key takeaway is continued de-risking," adding that "the results strengthen confidence in both grade and vein continuity, which are critical for mine planning and extraction." She further stated that "infill success reduces uncertainty and moves Fork closer to a development decision." Clark and Flynn maintained the "BUY" recommendation. <a href="https://vblgoldfix.substack.com/p/wrlg-and-peers-side-by-side?utm_source=post-email-title&amp;publication_id=456345&amp;post_id=190492072&amp;utm_campaign=email-post-title&amp;isFreemail=true&amp;token=eyJ1c2VyX2lkIjoyOTEyNDE0OTEsInBvc3RfaWQiOjE5MDQ5MjA3MiwiaWF0IjoxNzczMTQxNTkxLCJleHAiOjE3NzU3MzM1OTEsImlzcyI6InB1Yi00NTYzNDUiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.qSxLyOSHSCo6KCEs3Bn-av-Qrgn6wGAxj6jt7--Imjw&amp;r=4tebdf&amp;triedRedirect=true&amp;utm_medium=email" target="_blank" rel="noopener">In a March 10 report titled WRLG & Peers Side by Side, VBL wrote that the company stood out due to "asset quality, timing, and leverage to gold."</a> The report described the situation as tied to the restart of the historic high-grade Madsen Mine in Ontario's Red Lake district, which had previously produced more than two million ounces of gold. It noted that existing infrastructure could reduce both restart costs and timelines. VBL also referenced what it described as a production inflection point, stating that the transition from developer to producer was a phase that "often drives the largest valuation change because the business moves from a concept to a cash-flowing operation." The report added that exposure to the gold price was supported by the high-grade nature of the underground operation and noted that expansion potential could come from nearby deposits, including Rowan. The report outlined several risks, including operational ramp-up risk, grade reconciliation risk, financing risk, single-asset exposure, and underground mining complexity. It stated that lower-than-expected throughput, grades, or recoveries could increase costs, while discrepancies in grade reconciliation could impact mine economics. It also noted that extended timelines to stabilize production could require additional capital and that the company remained largely dependent on a single mine. <h2 style="text-align: center;" data-start="2129" data-end="2199">Operational Milestones and Development Timeline</h2> <a href="https://westredlakegold.com/wp-content/uploads/2026/04/WRLG_Long-Deck_2026.04.09_WR-1.pdf" target="_blank" rel="noopener">According to the company's investor presentation, multiple operational milestones and timelines have been outlined for the Madsen Mine and surrounding assets.</a> For the first half of 2026, activities include work in the 960 area, described as having large stopes with development completed, as well as operations in the high-grade 4447 area. Drill results from the 904 Complex, along with the Fork and Rowan areas, are expected during the first half of 2026. Guidance for 2026 is expected to be announced by mid-Q2. In addition, the shaft is expected to become operationalin H2 2026, with an initial capacity to move 350 tonnes per day Projects are currently underway to evaluate increasing haulage capacity via shaft up to potentially 2,000 tonnes per day. In the first half of 2027, plans include beginning mining at the 904 Complex, described as high grade and non-remnant material. A joint Madsen-Rowan pre-feasibility study is scheduled for Q3 2026. This study is intended to present Madsen as a longhole mining operation with Rowan as a satellite mine sending material to the Madsen mill. The presentation referenced a preliminary economic assessment for Rowan indicating 400 tonnes per day producing 35,000 ounces annually for five years. [OWNERSHIP_CHART-5614] Additional 2026 milestones include updating the Rowan resource estimate, initiating Rowan consultation, and submitting a Rowan permit application in H2. Development work to begin access towards the Fork deposit is planned to begin by end of 2026, pending a construction decision. Ongoing drilling programs were also outlined, including a completed 3,000 meter drill program at the Fork deposit to support a production decision, and a 6,000 meter drill program at the Rowan project focused on infill drilling, extending known veins, and supporting geotechnical and metallurgical requirements for future studies. A longer-term objective was described as advancing toward a combined Madsen-Rowan operation. <h2 style="text-align: center;">Ownership and Share Structure1</h2> Institutional investors hold approximately 30% of West Red Lake Gold's shares, with insiders and advisors holding another 10%. The remaining 60% is held by retail investors. The company's current market cap is CA$518.75 million, with a 52-week trading range of CA$0.54 to CA$1.49. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>West Red Lake Gold Mines is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.</li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of West Red Lake Gold Mines.</li> <li>James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. </li> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting" target="_blank" rel="noopener">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30954"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30954" width="0" height="0"> ( Companies Mentioned: WRLG:TSX.V; WRLGF:OTCQX; UJO:FSE, ) WRLG:TSX.V; WRLGF:OTCQX; UJO:FSE Wed, 15 Apr 2026 00:00:00 PST Drone Manufacturer Targeting US$1.1B in Defense Programs Doubles Production https://www.streetwisereports.com/article/2026/04/15/drone-manufacturer-targeting-us-1-1b-in-defense-programs-doubles-production.html Source: <a href="https://www.streetwisereports.com/article/2026/04/15/drone-manufacturer-targeting-us-1-1b-in-defense-programs-doubles-production.html?utm_medium=feed">Streetwise Reports 04/15/2026</a> Unusual Machines Inc. (UMAC:NYSEAMERICAN) announces enhancements to its manufacturing operations in Florida that are expected to more than double production.NDAA-compliant drone component producer <a href="https://www.streetwisereports.com/pub/co/10500?utm_medium=feed" target="_blank" rel="noopener">Unusual Machines Inc. (UMAC:NYSEAMERICAN)</a> announced significant enhancements to its motor manufacturing operations in Orlando, with recent changes "expected to more than double daily production," <a href="https://www.unusualmachines.com/press-release/?i=163930" target="_blank" rel="noopener">according to an April 10 release</a>. The company, currently producing about 15,000 motors monthly, said has introduced second and third shifts to boost its production capabilities. With improvements in equipment, staffing, and the layout of the factory, daily production is anticipated to rise from roughly 700 to 1,500 parts. "We're running motor production 24 hours a day, five days a week, and I'm proud of how the team has expanded and refined the operation in the five months since launch," President and Chief Operating Officer Andrew Camden said. "We continue to push production higher by adding equipment and building out the team. Rotor Lab brought deep product experience, and we've paired that with our manufacturing capability to scale more quickly." The motor design and engineering efforts are spearheaded by Vice President of Motors Andrew Simpson, who came on board following the acquisition of Rotor Lab and has since moved to the United States. This strategic acquisition has enabled Unusual Machines to expedite its shift to large-scale manufacturing. Brad Mello, vice president of manufacturing, who was instrumental in setting up the Orlando facility, is overseeing the scaling operations, the company said. Looking ahead, Unusual Machines said it plans to double its motor factory workforce by May as production increases. Additionally, the company aims to install a high-volume automated motor production line in the latter half of 2026 to further boost its manufacturing output. <h2 style="text-align: center;">Lantronix Partnership</h2> <a href="https://www.streetwisereports.com/article/2026/03/23/drone-manufacturer-launches-ai-partnership-breakthrough-with-lantronix.html?utm_medium=feed" target="_blank" rel="noopener">Unusual Machines announced last month</a> that it entered into a strategic partnership with Lantronix Inc. to develop advanced autonomous drone components that integrate edge AI compute with essential flight control systems. This collaboration aligns with the U.S. defense sector's increased focus on producing autonomous systems at scale, as highlighted in a March 19 release. Unusual Machines is known for its NDAA-compliant drone components, while Lantronix specializes in Edge AI and Industrial IoT solutions that support unmanned systems, critical infrastructure, and resilient networks. The partnership is a response to the U.S. Department of War's Drone Dominance Program, a significant US$1.1 billion initiative aimed at deploying hundreds of thousands of advanced unmanned platforms by 2027. The program emphasizes the importance of reliable domestic supply chains, AI-driven autonomy, modular designs, and rapid development cycles. Under this collaboration, Lantronix will provide its cutting-edge edge AI compute and system-on-module (SOM) technologies, and Unusual Machines will supply sophisticated flight components. This synergy is expected to enhance the drones' operational capabilities in challenging environments by enabling real-time perception, autonomous navigation, and mission execution. Lantronix's computing platforms are designed to autonomously handle critical functions such as sensor data processing, detection, classification, and tracking, which allows the drones to perform tasks like target identification and response independently, the release noted. Lantronix CEO Saleel Awsare emphasized the role of edge compute in modern autonomous systems, stating, "This collaboration brings together edge AI compute and mission-critical flight control into a modular platform that allows our customers to accelerate development and scale production as demand increases." He also noted the shift from being a component supplier to a platform partner in the autonomous systems ecosystem. Unusual Machines Chief Executive Officer Allan Evans underscored the importance of reliable and integrated flight control systems for the scalability of autonomous technologies. "As autonomous systems scale, reliable and tightly integrated flight control becomes essential to enabling advanced onboard capabilities without having the drones fall out of the sky," he said. Evans also highlighted the benefits of the partnership with Lantronix in designing and debugging flight platforms that support a variety of architectures with advanced edge AI capabilities. The companies have begun joint platform development and plan to conduct initial demonstrations within the next 12 months. The modular architecture of these systems will allow for future upgrades without the need for complete system overhauls, enabling adaptability to evolving mission requirements. <h2 style="text-align: center;">Analyst: Co. Positioned for Strong Growth</h2> In a recent analysis dated March 9, Barry Sine from Litchfield Hills reviewed Unusual Machines, noting the company's impressive fourth-quarter revenue, which exceeded expectations by over 36%. The company concluded the year with a remarkable 101% growth compared to the previous year. Sine attributed this success to Unusual Machines' strategic positioning within the burgeoning U.S. market for domestically produced drone components, now estimated to be worth around US$5 billion, a surge following the FCC's December 2025 restrictions on foreign drones and components. Sine highlighted that the growing demand and improved production capabilities of Unusual Machines might lead to an increased market share. He also pointed out that the company is anticipating a US$24 million mark-to-market gain in the first quarter from its investments in four publicly traded drone companies, with the possibility of an additional US$75 million based on consensus targets. Looking ahead, Unusual Machines is set to boost its motor production to 100,000 units per month by the end of the year, which could yield US$60 million annually from this line alone. Additionally, Sine mentioned that Unusual Machines is expected to introduce new product lines, including headsets, batteries, and frames, which should contribute to the company's diversified growth through 2026-2027. He emphasized the company's strong market position, noting that more than half of the winners of the Drone Dominance Gauntlet 1 are customers of Unusual Machines. This is particularly advantageous as the company prepares for the forthcoming US$1 billion Gauntlet 2 initiative that prioritizes the use of all-American components. Maintaining a "Buy" rating, Sine set a target price of US$25 per share, reflecting Unusual Machines' strong growth trajectory and strategic market positioning. However, he cautioned about significant risks, including challenges related to the company's expansion strategy in essential drone components like motors and circuit boards. He stressed that successful market penetration and customer adoption are crucial for sustained growth. Delays or inefficiencies in production or distribution could adversely affect the company's progress. Moreover, Sine commented on the valuation of Unusual Machines' shares, which are priced at about twice the industry average. This premium valuation highlights the company's promising outlook but depends on continued execution and sector performance, underscoring the strategic significance and growth potential within the defense and drone sectors. According to FactSet, at least four other analysts have issued ratings for the stock, all buy ratings, including price targets of US$20 for Austin Bohlig of Needham & Co., US$30 for Josh Sullivan of JonesTrading, US$25 for Ashok Kumar of ThinkEquity, and US$21 for Matthew Galinko of Maxim Group. <h2 style="text-align: center;">The Catalyst: Rethinking Modern Warfare in Real Time</h2> <a href="https://www.newswire.ca/news-releases/autonomous-warfare-takes-flight-military-drone-market-set-for-explosive-growth-through-2030-828965969.html" target="_blank" rel="noopener">An article from Market News Updates on March 19</a> discussed the swift advancement of the global drone and defense sector, asserting, "The global drone and defense landscape is no longer emerging, it's accelerating at a pace that's forcing governments and contractors to rethink modern warfare in real time." The piece underscored the growing role of unmanned systems in national defense strategies around the world, which now encompass a range from tactical intelligence, surveillance, and reconnaissance (ISR) missions to fully autonomous swarm operations. The article projected substantial growth for the broader UAV market, anticipating it to reach around US$102.7 billion by 2030. This growth is expected to be propelled by a strong double-digit rate, driven by broader adoption of drones across various military domains — air, land, and sea. This increase is further supported by escalating geopolitical tensions, the adoption of asymmetric warfare strategies, and the demand for cost-effective, scalable force multipliers. Specifically, the defense-oriented drone market is also experiencing robust expansion. Market News Updates forecasts that the global military drone sector will grow from US$15.8 billion in 2025 to $22.81 billion by 2030. Additionally, the market for drone warfare systems is projected to reach approximately US$42.1 billion by the decade's end. The tactical UAV segment is expected to hit US$7.86 billion, driven by an urgent need for real-time intelligence and enhanced surveillance capabilities. This significant growth across various platforms indicates a major shift in military strategy, positioning drones not just as supplementary tools but as central elements of operational dominance. The Commercial Drone Alliance (CDA) recently published a white paper titled "Advancing the Domestic Drone Industry," which emphasizes the importance of domestic drone production, highlighted by a recent FCC decision that the CDA believes signals the federal government's commitment to U.S. drone manufacturing, <a href="https://www.commercialuavnews.com/commercial-drone-alliance-domestic-industry-white-paper" target="_blank" rel="noopener">wrote Matt Collins for Commercial UAV News on April 8</a>. However, the CDA argues that further steps are necessary to provide the U.S. industry with the resources it needs to flourish under the new regulations. The white paper outlines significant challenges facing the industry, identifying two main structural headwinds: on the demand side, an unclear regulatory environment for routine drone operations creates hesitation among operators, which dampens the demand needed for domestic manufacturers to reach a competitive scale. On the supply side, the U.S. faces dependency on foreign production for essential components such as flight controllers, cameras, sensors, motors, batteries, and printed circuit board assemblies due to decades of offshoring. Establishing this manufacturing capacity domestically is described by the CDA as "exceedingly costly for any one company."[OWNERSHIP_CHART-10500] To overcome these challenges, the CDA proposes six policy recommendations, Collins reported. The foremost recommendation is the establishment of a White House-led Drone Dominance Task Force, chaired by the Office of Science and Technology Policy, to ensure a coordinated effort across various federal agencies. Additionally, the CDA suggests strengthening domestic demand through grant programs aimed at public safety agencies and infrastructure operators, coupled with regulatory actions to bolster the market. Specific regulatory actions include urging the FAA to finalize its Beyond Visual Line of Sight (BVLOS) rule to enable scaled operations without imposing burdens on the numerous Unmanned Aircraft Systems (UAS) already performing critical missions. Furthermore, the CDA recommends that the Transportation Security Administration (TSA) reconsider its proposed rule on commercial drone security measures. Instead, the CDA advocates for the TSA to work with the industry to develop "right-sized and collaborative security measures for commercial drone operations," ensuring regulations are effective without being overly restrictive. <h2 style="text-align: center;">Ownership and Share Structure1</h2> As for ownership and share structure, eight strategic entities own about 7% of Unusual Machines, including the CEO, Evans, with 3.33%. About 130 institutions hold 34%, including SSga (State Street Global Advisors) and The Vanguard Group Inc., with 3.35%. Retail investors have the rest. Unusual Machines has 47.78 million shares outstanding. Its market cap is US$654.65 million. Its 52-week range is US$4.67–23.38 per share. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Unusual Machines Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.</li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Unusual Machines Inc.</li> <li>Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30952"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30952" width="0" height="0"> ( Companies Mentioned: UMAC:NYSEAMERICAN, ) UMAC:NYSEAMERICAN Wed, 15 Apr 2026 00:00:00 PST Which Companies Could Benefit From Price Explosion for So-Called 'War Metal'? https://www.streetwisereports.com/article/2026/04/07/which-companies-could-benefit-from-price-explosion-for-so-called-war-metal.html Source: <a href="https://www.streetwisereports.com/article/2026/04/07/which-companies-could-benefit-from-price-explosion-for-so-called-war-metal.html?utm_medium=feed">Streetwise Reports 04/15/2026</a> Global manufacturers are facing a tungsten shortage. Read about some companies that could possibly benefit from higher prices.Global manufacturers are currently facing a severe shortage of tungsten, a metal critical for defense and electronics, due to Chinese export restrictions and heightened military demands, which have driven prices to record highs, <a href="https://www.bitget.com/news/detail/12560605268833" target="_blank" rel="noopener">according to a report by 101 Finance for Bitget on March 16</a>. European benchmark reports that the price of tungsten surged 557% since China implemented export controls amid a trade dispute with the U.S. last year. <a href="https://news.metal.com/newscontent/103848918-APT-CIF-Rotterdam-Rises-to-3185mtu-Amid-Strong-Demand-and-Tight-Supply-European-Scrap-Prices-Decline">Shanghai Metals Market reported</a> a surge past US$3,200/metric ton unit (mtu) as of April 9. to US$2,250 per metric ton unit, a surge of The recent escalation in Middle Eastern conflicts has further exacerbated the demand for military materials, leading to even faster price increases as reserves are depleted. "In over a decade working with various metals, I've never witnessed a market as constrained as tungsten — except perhaps lithium in 2021," said George Heppel, vice president of commodity research at BMO Capital Markets, according to the report. Heppel noted the lack of new tungsten projects compared to other metals like lithium. Since becoming the world's primary tungsten supplier, China's tightening of export regulations has forced manufacturers globally to seek alternative sources. Project Blue, a consultancy specializing in critical minerals, observed a 40% drop in Chinese exports of restricted tungsten products last year, the report said. This reduction has prompted Western governments to attempt to lessen their reliance on Chinese minerals, a leverage point in ongoing trade and technology disputes. Lewis Black, CEO of Almonty Industries Inc., said his company is reviving production at a dormant mine in South Korea and planning the first U.S. tungsten mine in a decade. Black mentioned that U.S. officials have inquired about immediate supply needs, with nearly half of the South Korean output slated for munitions use in Pennsylvania. He explained that as Chinese subsidies waned and export restrictions were lifted, tungsten prices began to reflect true market dynamics of supply and demand. Janine Le Roux from Project Blue pointed out that the ongoing Middle Eastern conflict has spurred the latest price spike, with military-related tungsten usage expected to increase by 12% this year. Tungsten's high density makes it ideal for missile parts and aircraft counterweights, as well as in artillery shells, grenades, and armored vehicles. Despite China's dominance in tungsten production and reserves, the U.S. has not mined tungsten commercially since 2015, increasing reliance on Chinese imports, the Bitget report noted. David Argyle from Arlington Innovation Partners described last year's export restrictions as a geopolitical strategy. He suggested that expanding mining in countries like Spain, Brazil, Australia, and the U.S. could alleviate some pressure, but estimated it would take around two years for new Western production to impact the market. <h2 style="text-align: center;">Metal Irreplaceable In Several Industries</h2> Tungsten holds a distinctive role in the global commodities market, distinguishing itself from more common industrial metals such as copper or aluminum. In 2026, the tungsten market was valued at around US$16 billion, which is only about 5% of the copper market's massive US$320 billion valuation, <a href="https://discoveryalert.com.au/tungsten-price-increase-market-dynamics-2026/" target="_blank" rel="noopener">according to a report by Mulfih Hidayat for Discovery Alert on March 16</a>. However, the strategic significance of tungsten far surpasses its market size, largely due to its unique physical properties that are critical for various high-stakes applications. Tungsten is renowned for having the highest melting point of any pure element at 3,422°C, along with a density that is crucial for applications that require high penetration capabilities or resistance to extreme temperatures. These characteristics make it irreplaceable in sectors like aerospace, defense, and semiconductor manufacturing, where alternatives cannot match tungsten's performance, leading to a demand that is fundamentally inelastic, Hidayat reported. The trading dynamics of tungsten also set it apart from other commodities like copper or gold, which are traded on major exchanges with clear price visibility, the report noted. Instead, tungsten transactions are typically conducted through private bilateral negotiations with limited public pricing information, contributing to greater price volatility compared to more transparently traded commodities. The APT (ammonium paratungstate) European benchmark is one of the few public pricing references, though it sees much lower trading volumes than those of exchange-traded metals. <h2 style="text-align: center;">Vital for Weapons Production</h2> A shortage of critical metals like tungsten, antimony, gallium, and germanium (which are vital for weapons production) is a significant challenge facing the United States, according to a recent S&P report, <a href="https://nai500.com/blog/2026/03/tungsten-prices-continue-to-run-as-middle-east-war-draining-supply/d" target="_blank" rel="noopener">wrote Caroline Kong for NAI500 on March 26</a>. The Canadian think tank Critical Minerals Institute has warned that the depletion of these metals could halt the production of new weapons in the U.S. Of these, tungsten is often referred to as the "war metal" due to its military importance. China, which dominates the global tungsten supply by accounting for 79% of production, has exacerbated this shortage by imposing export controls and reducing mining quotas, alongside increasing domestic consumption in sectors like photovoltaics and semiconductor manufacturing, Kong wrote. This has significantly decreased the amount of tungsten available on the global market. The ongoing war in Iran has further stressed the demand for tungsten, with military consumption expected to rise by 12% in 2026. "The Iran war is a sharp reminder of how metal-intensive 21st-century warfare is. Tens of thousands of drones and missiles — tungsten plays a pivotal role in them," Heppel from BMO said, according to the NAI500 article. Editor Fred Turner said the ongoing conflict involving Iran has brought to light a significant vulnerability within the military-industrial complex with its heavy dependence on tungsten, <a href="https://voennoedelo.com/en/posts/id14686-us-military-exposed-by-tungsten-shortage-crisis" target="_blank" rel="noopener">according to a piece he wrote for Military Affairs on April 4</a>. The metal is crucial for manufacturing specific types of ammunition and vital components of weaponry, he said. A report by Foreign Policy has underscored the absence of any active large-scale tungsten mining operations in the United States, a situation that has become increasingly problematic as military engagements deplete existing weapon stockpiles that rely on this metal, with restocking efforts facing significant delays and challenges. Pini Althaus, managing partner at Cove Capital, expressed concerns to the magazine about the growing visibility of this shortage, Turner said. He highlighted a noticeable disruption in the supply chain and lamented the lack of a solid strategy to address this issue in the foreseeable future. As the conflict persists, the price of tungsten has skyrocketed by over 500%, according to Foreign Policy. Concurrently, the U.S. continues to rely heavily on tungsten imports and processing from abroad, with China maintaining a dominant position in the global market. The publication also noted that it has been more than a decade since the last commercial tungsten mines in the United States were operational. In response, Washington is now pushing to expedite the establishment of a domestic supply chain for this and other critical minerals. However, experts warn that starting new mining ventures, expanding processing capabilities, and constructing the necessary infrastructure will require several years to complete. <h2 style="text-align: center;">Establishing Alternate Sources</h2> Efforts to establish alternative tungsten supplies in the West are underway, with projects in Kazakhstan and potential mining sites in Nevada being explored, Kong wrote for NAI500. However, these new sources are not expected to stabilize production quickly, with estimates suggesting a two-year "pain period" before they can significantly impact the market. For investors, the surge in tungsten prices signals a shift in the valuation of strategic metals, influenced by geopolitical tensions, supply chain adjustments, and military needs. This situation suggests a new pricing dynamic where tungsten carries a strategic premium, reflecting its critical role in national security and technology. Investors are advised to focus on non-China production capacities and the burgeoning recycling sector, as these areas present new opportunities amidst the revaluation of strategic metals. <a href="https://www.juniorminingnetwork.com/mining-stocks/tungsten-mining-stocks.html" target="_blank" rel="noopener">According to Junior Mining Network</a>, the following are five tungsten companies by market cap at the time the list was compiled: Almonty Industries, United States Antimony, Fireweed Metals, Allied Critical Metals, and American Tungsten. <h2 style="text-align: center;">Almonty Industries</h2> Almonty Industries Inc. (AII:TSX; ALM:NASDAQ; ALL:ASX; ALI:Frankfurt) has successfully secured a leading role in tungsten production for the Western world, calling it the "The Tungsten Dominator," <a href="https://news.financial/comments/almonty-industries-the-tungsten-dominator-of-the-west" target="_blank" rel="noopener">according to Tarik Dede of News Financial on March 27</a>. The Canadian firm has revitalized the historic Sangdong mine in South Korea, which was one of the world's largest tungsten mines until its closure in the 1990s due to competitive pricing pressures from China. [OWNERSHIP_CHART-5565] Sangdong has completed its initial construction phase, resumed production of tungsten concentrates, and is expanding its operations. Lewis Black, CEO of Almonty, anticipates that by 2027, the mine's processing capacity could reach up to 1.2 million tons annually, potentially yielding over 460,000 MTUs (metric ton units) of tungsten concentrate each year. This could satisfy about 40% of the global tungsten demand outside China, Dede wrote. Almonty's growth extends beyond Asia. The company acquired the Panasqueira mine in Portugal in 2016, a site known for its continuous high-grade tungsten production for nearly 130 years. Although smaller than Sangdong, plans for expansion are underway, promising significant production increases. Additionally, Almonty has expanded into the United States with the acquisition of the Gentung Browns Lake Tungsten project in Montana for US$10 million at the end of 2025, targeting a production start in the latter half of 2026 to directly supply the U.S. defense industry. This project is located in a historic tungsten district that supplied the national reserve during World War II and the Korean War. The Browns Lake Mine, closed in 1966, was among the most productive, and the Gentung project is poised for a swift operational restart due to its brownfield status and existing infrastructure. Following its Nasdaq listing, Almonty is planning to relocate its headquarters to the United States, underscoring the strategic importance of the American market. This move aligns with the U.S. Department of Defense's mandate to exclude Chinese-sourced raw materials in military applications from 2027, highlighting a critical supply gap that Almonty is positioned to fill. Investment analysts are optimistic about Almonty's prospects. Bank of America (BofA) has labeled Almonty as the "leading Western vehicle" for tungsten supply, the News Financial report noted. In March 2026, BofA set a price target of US$20 for Almonty's stock and recommended a buy, citing the structural supply deficit and the sustained high prices of tungsten, which have surged by over 250% in the past year due to Chinese export restrictions and declining ore grades. BofA anticipates that Almonty will maintain a strong position in negotiating long-term supply contracts. The recent drop in Almonty's stock value, about 25% due to the Persian Gulf war, presents a potential investment opportunity, the author said. The stock had previously quadrupled in value within five months, making it susceptible to a sell-off as investors sought liquidity. This scenario offers a chance for new investors to capitalize on Almonty's promising future in the tungsten market. ALM reported slightly disappointing results for 2025, primarily due to lower sales volumes at its Panasqueira tungsten mine in Portugal, according to Alliance Global Partners Analyst Jake Sekelsky in a March 20 research note. However, the company is poised for significant growth in 2026, driven by the completion of Phase 1 commissioning of its flagship Sangdong tungsten mine in South Korea, he noted. Sangdong, recognized as one of the world's largest and highest-grade tungsten mines, is expected to quadruple ALM's production capacity. The company also plans to advance development at the Gunteng Browns tungsten project in Montana, reinforcing its position as a leader in the tungsten market. Despite the underwhelming 2025 revenue of CA$32.5 million, which fell short of the anticipated CA$41.5 million, ALM's outlook remains positive. The successful commissioning and ramp-up of Sangdong are anticipated to significantly boost the company's cash flow in the second half of 2026. Phase 2 expansion at Sangdong, expected next year, will double the production capacity to 4,600 yearly, accounting for about 40% of global production outside China. With Sangdong's development progressing, attention is now turning to the Gunteng Browns project in Montana. ALM aims to restart production at this mine by the end of 2026, with an initial capacity of 140,000 tpa. Establishing tungsten production in the U.S. is seen as crucial for securing America's critical minerals supply chain. In light of these developments, Sekelsky maintained the firm's Buy rating and raised its price target from CA$14 to CA$19.25 per share. Cantor Fitzgerald's Nicholas Lobo also rated the stock a Buy with a CA$36 per share price target. "Importantly, the company ended the year with ~CA$268.4 million in cash following equity financings completed during 2025, which we believe provides strong funding visibility to complete commissioning and advance its broader tungsten growth strategy," Lobo wrote. GBC AG, an Augsburg-based research firm specializing in small and mid-cap companies, has notably increased its target price for Almonty Industries Inc., as detailed in a research report released on March 5, <a href="https://www.tradingview.com/news/eqs:029bd9360094b:0-gbc-ag-significantly-raises-target-price-for-almonty-industries-inc-structural-tungsten-shortage-and-production-ramp-up-drive-re-rating/" target="_blank" rel="noopener">according to a report by the firm's analyst Matthias Greiffenberger on TradingView March 27</a>. "The tungsten market has undergone a structural shift. Export restrictions, rising demand from defense and high-tech industries, and limited new supply outside China are driving sustainably higher price levels," the analyst noted. "Combined with the production ramp-up at Sangdong, this significantly improves Almonty's earnings outlook." He continued, "Against this backdrop, GBC now assumes a long-term tungsten price of US$1,500 per MTU (previously US$650 per MTU). Based on an updated discounted cash flow model, GBC raises the target price to CA$28.60 per share from … CA$9.00 and reiterates its BUY rating." 1About 9% of the company is owned by insiders and management, about 11% by corporations, and about 23% by institutions. The rest is retail. Top shareholders include Global Tungsten & Powders Corp. with 9.86%, President and Chief Executive Officer Lewis Black with 8.69%, Deutsche Rohstoff AG with 6.7%, Van Eck Associates Corp. with 4.01%, and Almonty Partners LLC with 3.3%. Almonty's market cap is now CA$5.8 billion with 280.37 million shares outstanding. It trades in a 52-week range of CA$2.78 and CA$30.58. <h2 style="text-align: center;">United States Antimony</h2> <a href="https://www.stockwatch.com/News/Item/U-by1154279-U!UAMY-20260402/U/UAMY" target="_blank" rel="noopener">In an April 2 release</a>, United States Antimony Corp. (UAMY:NYSEAMERICAN) announced the resumption of mining operations at its Stibnite Hill site in Thompson Falls, Montana. The operations, which had been halted in early November of the previous year due to harsh winter conditions, were able to restart earlier than expected this year thanks to milder weather and minimal snowfall in Montana. In the previous year, over a span of two months, USAC successfully transported more than 800 tons of antimony ore from the mountain to its Radersburg Flotation Facility for processing. The resulting antimony concentrate is then sent to the company's operating smelter in Thompson Falls, where it is transformed into finished products for USAC's customer base. This year, the company is implementing several changes to its mining program. After the removal of larger trees, the company plans to use a chipper to process smaller brush and branches into mulch. This mulch will be utilized in the company’s concurrent reclamation program to accelerate re-vegetation and improve access to existing roads and trails for the 2026 mining activities. Additionally, USAC has engaged professional surveyors to set up base stations on adjacent mountain tops equipped with GPS transmitters. This setup will allow field crews to use portable data collectors for more precise mapping and recording of antimony vein intercepts, aiding in the projection of veins along strike and down dip. The collected data will also be used to delineate disturbed areas, providing parameters for the ongoing reclamation efforts. The company has been recognized as one of the 11 Most Active Small Cap Stocks to Buy, <a href="https://www.msn.com/en-us/money/markets/us-antimony-uamy-secures-27m-in-defense-production-funding/ar-AA1Z5kXd">according to a March 27 piece by Sajjl Nooranne for Insider Monkey published by MSN</a>. Recently, on March 5, the company was granted $27 million under the Defense Production Act for enhancing domestic production and processing of critical minerals, with plans to modernize facilities in Montana and initiate new mining operations in Alaska. This investment is part of a larger government effort to bolster national resource security and position United States Antimony as a key supplier in essential industrial and defense sectors.[OWNERSHIP_CHART-11437] Earlier, on February 24, B. Riley increased its price target for United States Antimony to US$11 per share from US$9, maintaining a Buy rating, according to Nooranne. This adjustment was influenced by a new joint venture with Americas Gold and Silver to establish a commercial-scale processing facility in Idaho, aimed at boosting recovery rates and cutting costs. This project is also expected to drive growth through permitting advancements and international expansion efforts. United States Antimony, operational since 1969, is the only significant antimony smelter in the United States and manages a fully integrated operation encompassing mining, transportation, milling, smelting, and sales. With the backing of government initiatives and strategic partnerships, the company is uniquely positioned to capitalize on the global demand for secure supply chains, presenting a compelling investment opportunity, the firm noted. According to a March 20 updated research note by Sekelsky with Alliance Global Partners, United States Antimony recently reported its 2025 financial results, which fell slightly short of expectations due to ongoing efforts to ramp up antimony production in the United States and execute expansion strategies. Notably, UAMY concluded the year with a robust financial position, holding approximately $90 million in cash and securities. This strong financial footing is expected to accelerate the company's growth ambitions, particularly in diversifying its production across various critical minerals. Recently, UAMY acquired the Fostung tungsten project in Canada and swiftly established a current resource estimate to expedite the project's progression towards production. While UAMY is recognized as a leading domestic producer of antimony, the company is poised to expand its production capabilities in Montana and through a new joint venture with Americas Gold and Silver in Idaho, while also venturing into other critical minerals like cobalt, Sekelsky said. UAMY is shaping up to be a powerhouse in domestic critical minerals production. In terms of financial performance for 2025, UAMY posted a net loss of US$0.04 per share with revenues of US$39.2 million, slightly below the break-even EPS and revenue forecast of US$41 million. The year-over-year revenue increase of 163% reflects rising antimony production levels. The lower-than-expected results were attributed to higher operating costs typical of ramp-up phases and significant development work completed in 2025 to access new antimony sources ahead of a planned expansion at the Montana antimony processing facility. This expansion, now rescheduled to be completed in late 2Q26 due to contractor delays, is expected to triple the facility's capacity. Looking ahead, UAMY is not just focusing on antimony but is also setting its sights on becoming a diversified critical minerals producer, Sekelsky said. Following the acquisition of the Fostung tungsten project, UAMY updated its resource estimate, highlighting significant tungsten potential which could be expedited towards production given the proximity to existing processing facilities. This move is part of a broader strategy to reduce reliance on foreign critical mineral supplies, particularly from adversarial nations. "We are reiterating our Buy rating and US$13.50 per share price target. Our valuation remains based on a NAV analysis of the company's Montana and Mexico antimony operations as well as the BRZ segment utilizing an 8% discount rate and 1.5x NAV multiple," the analyst continued. "We currently ascribe no value to the recently announced hydromet JV with USAS and expect to revisit this assumption over the next quarter as further details are announced, which we believe leaves further upside to our current estimates." 1About 11% of United States Antimony is owned by insiders and management, and about 48% by institutions. The rest is retail. Top shareholders include BlackRock Institutional Trust Co. with 5.71%, State Street Investment Management with 5.35%, Creative Planning Inc. with 5.19%, The Vanguard Group Inc. with 5.17%, and Patrick W. Dugan with 3.98%. Its market cap is US$1.25 billion with 143.37 million shares outstanding. It trades in a 52-week range of US$1.69 and US$19.71. <h2 style="text-align: center;">Fireweed Metals</h2> Fireweed Metals Corp. (FWEDF:OTCMKTS; FWZ:TSX.V) said it is dedicated to developing a new critical metals district in Northern Canada. It fully owns the Macpass District, which spans an impressive 985 km² and houses the Macpass zinc-lead-silver project and the Mactung tungsten project. As part of the Lundin Group, Fireweed is well-placed to generate significant value from these ventures.[OWNERSHIP_CHART-10942] The company successfully organized a <a href="https://fireweedmetals.com/fireweed-metals-closes-previously-announced-61-5-million-private-placement/" target="_blank" rel="noopener">substantial funding initiative</a>, securing CA$61.5 million through a premium-priced private placement spearheaded by JX Advanced Metals and the Lundin Family Trusts, <a href="https://finimize.com/content/fireweed-metals-lines-up-615-million-with-two-big-backers" target="_blank" rel="noopener">according to a report by Finimize on March 31</a>. This financial boost is designated for advancing the company's tungsten and zinc projects located in northern Canada. In this strategic financial move, Fireweed Metals is set to offer up to 14.7 million shares priced at CA$4.18 each, which represents a 9% premium over its March 27 closing price on the TSX Venture Exchange, according to MT Newswires. JX Advanced Metals plans to acquire approximately 11.3 million shares, which will result in a 5% ownership stake, providing the company with a strategic entry into Fireweed's projects. Meanwhile, the Lundin Family Trusts, already a significant shareholder, will purchase about 3.4 million shares to maintain its ownership at roughly 22.9%, Finimize noted. The proceeds from this placement, expected to close by April 7, will be used to further develop Fireweed's Macpass, Mactung, and Gayna projects. From a market perspective, the decision to set the share price above the recent closing level indicates strong investor interest and confidence in Fireweed Metals. This pricing strategy not only reflects robust demand but also consolidates the shareholder base around two influential entities, potentially influencing future financing conditions, partnerships, and discussions around offtake agreements. Moreover, by associating tungsten and other critical minerals with sectors like semiconductor and advanced manufacturing, Fireweed extends its market relevance beyond just EV batteries to a broader industrial resilience initiative. Looking at the broader investment landscape, the choice of backers highlights a shift towards more strategic capital allocation. Developing mining operations in the remote reaches of northern Canada requires significant time and capital, emphasizing the importance of selecting partners who bring more than just funds, the article noted. By aligning with JX Advanced Metals and leveraging the Lundin family's extensive network, Fireweed is positioning itself to benefit from downstream expertise, which could enhance processing capabilities, strengthen customer ties, and bolster supply chain integrity. This approach may set a precedent, prompting other exploration firms to seek investors who can provide substantial operational and market-entry support down the line. "This capital injection is designed to provide the resources needed to progress these projects, a vital step given the lengthy timelines typical in mining development," <a href="https://www.bitget.com/amp/news/detail/12560605332810" target="_blank" rel="noopener">a piece by 101 Finance published by Bitget on April 2 noted</a>. "However, the ultimate success of this investment depends on Fireweed's ability to bring these projects into production," the report said. "The company is positioning itself to benefit from tightening global supplies of tungsten and zinc, aiming to capitalize on these market dynamics as its projects move toward construction." Fireweed Metals recently disclosed the assay results from its first drilling program at the Gayna project in the Northwest Territories, which the company has described as neutral in impact, according to a research note by Analyst Maximillian Myers of Ventum Capital Markets on December 12, 2025. The initial drilling yielded significant zinc mineralization at the Intrepid target, with notable results including 51.22 meters at 4.4% zinc and a 5.17-meter section at 10.0% zinc, Myers said. Although these results confirm the geological model and are promising for an initial exploration, they did not meet the high-grade expectations set by the Kipushi mine analogy, which represents the project's ultimate potential. The drilling at Gayna, which is the first on the property since the late 1970s, covered 3,800 meters across several targets. The focus was primarily on exploring steeply dipping zinc/lead/silver sulfide mineralization near reef margins. The best outcomes came from the Intrepid target, where drilling confirmed broad, vein-hosted and replacement-style sphalerite mineralization. However, the actual reef contact was not intersected, and other explored areas like Jaws, Zuviel, and Propitious only showed trace to minor mineralization. Despite these findings, Fireweed plans to continue refining its geological models and target prioritization, particularly focusing on areas closer to the true reef margin with potential for massive sulfide. The company remains cautious due to the project's remote and early-stage nature but is committed to a disciplined exploration approach. In terms of investment perspective, Fireweed's focus remains on de-risking the Mactung project, which, along with the Macpass district, forms the core of the company's value proposition. According to the company, Mactung and Macpass represent 48% and 41% of their net asset value estimate, respectively, with Gayna contributing only 2%. Thus, the recent drilling results from Gayna do not alter the company's overall valuation. Fireweed remains a BUY rating with a target price of CA$4, viewing the ongoing developments at Mactung as central to unlocking value across the broader Macpass district, Myers wrote. 1About 3% of the company is owned by insiders and management and 34% by strategic investors like JX and the Lundin Group. The rest is retail. Its market cap is $CA960.99 million and its 52-week trading range is CA$1.30-CA$4.75. <h2 style="text-align: center;">Allied Critical Metals</h2> <a href="https://www.streetwisereports.com/pub/co/11251?utm_medium=feed" target="_blank" rel="noopener">Allied Critical Metals Inc. (ACM:CSE; ACMIF:OTCQB; 0VJ0:FSE)</a> is strategically advancing its tungsten development projects in Europe, particularly focusing on the Borralha Tungsten Project in Portugal, which was once the largest tungsten producer in Europe. This initiative aligns with global efforts to diversify tungsten production away from Chinese dominance.[OWNERSHIP_CHART-11251] <a href="https://alliedcritical.com/2026/04/07/allied-critical-metals-intersects-over-200-metres-of-breccia-hosted-tungsten-mineralization-at-new-venise-target-expanding-growth-potential-at-the-borralha-project/" target="_blank" rel="noopener">The company announced on April 7</a> that significant progress at Borralha, where drilling has uncovered over 200 meters of breccia-hosted tungsten mineralization at the newly identified Venise Breccia target. This discovery includes zones of hydrothermal alteration and quartz-sulphide veining, visibly containing wolframite, molybdenite, and chalcopyrite. Chief Executive Officer Roy Bonnell expressed optimism about these findings, stating, "These initial results bode very well for our fully funded drilling campaign at the Borralha Project. At the Venise target, we have identified significant mineralization at a second Breccia complex to add to the previously discovered Santa Helena Breccia." He added, "We are encouraged by these early results and continue to believe the Borralha Project is a world-class tungsten deposit with the possibility of being a meaningful new supply of tungsten in a world where pricing is above US$3,000 per mtu (metric tonne unit)." The Venise Breccia, located about 400 meters from the Santa Helena Breccia, which underpins the company's recent Preliminary Economic Assessment (PEA), represents a significant step in exploring previously underexplored breccia-hosted mineralization systems within the project. The visible tungsten mineralization bolsters Allied's strategy to expand its resource base and highlights the potential for additional breccia-hosted mineralization across the broader project area. While these initial observations are promising, further drilling and analysis are necessary to confirm the extent and continuity of the mineralization. The ongoing drilling efforts are moving towards the central portion of the breccia body, aiming to further delineate the mineralization. It's important to note that the Venise Breccia is not currently included in the company's mineral resource estimate (MRE) or the PEA mine plan, the company said. The PEA, which is preliminary in nature, includes inferred mineral resources that are too speculative geologically for economic considerations to be applied in a way that would classify them as mineral reserves, and there is no certainty that the PEA will be realized. The PEA showed an after-tax net present value (NPV) of CA$473.4 million and an internal rate of return (IRR) of 48.8% at a tungsten price of CA$1,365 per metric ton unit WO3, with a payback period of about 2.2 years from the start of commercial production. The project plans include developing an underground mine, a processing plant, and necessary infrastructure, with total life-of-mine capital expenditures estimated at US$178 million. The project has successfully passed significant regulatory milestones, including receiving an Environmental Impact Declaration in January 2026, paving the way for detailed engineering and development with an aim to start construction and production around 2027. Additionally, a 20,000-meter drilling program is in progress to potentially extend the initial 11-year production plan. Beyond Borralha, Allied is also developing the Vila Verde Tungsten-Tin Project, anticipating the construction of a pilot plant in 2026 to process about 150,000 tonnes per year, yielding approximately 250 tonnes of WO3 annually. The company has also signed a letter of intent with Global Tungsten and Powders in Pennsylvania for the sale of tungsten concentrate and is in discussions with other refineries. Thibaut Lepouttre of Caesar's Report told Streetwise Reports: "While the project has been around for a while, but never gained momentum when the tungsten price was US$300-375 per mtu, the current renewed interest and sky-high tungsten price make Borralha's economics very attractive. The company used CA$1000/mtu in its base case scenario (which is 1/3rd of the current spot price), and this yielded an after-tax NPV8% of CA$475M, increasing to almost CA$1B at $1500/mtu. And thanks to the low initial capex, Borralha is establishing itself as one of Europe's best options to increase domestic tungsten production within the EU." Allied Critical Metals underwent a significant transformation, refocusing its business on the exploration and development of tungsten assets following a reverse takeover of Deeprock Minerals in April 2025, <a href="https://www.ad-hoc-news.de/boerse/news/ueberblick/a-strategic-pivot-allied-critical-metals-targets-critical-tungsten-supply/69078522" target="_blank" rel="noopener">according to a report by Ad Hoc News on April 4</a>. Now operating as a dedicated tungsten entity, the company has its primary operations in Portugal, with additional interests in Canada. Since this strategic overhaul in April 2025, Allied's shares have been actively trading on the Canadian Securities Exchange under its existing ticker symbol. This move has allowed the company to fully dedicate its capital and efforts towards its tungsten ventures. In Portugal, Allied Critical Metals is pushing forward with its Borralha tungsten project. A key development occurred in January 2026 when the company received the necessary environmental permit, promptly kicking off an ambitious 20,000-meter drilling program. This initiative aims to enhance the geological understanding of the site and confirm the resource potential of the deposit. Following the release of its financial results for the latter half of 2025 in February 2026, market watchers are keenly awaiting further updates from the company. The results of the ongoing drilling efforts at Borralha, along with additional permitting processes, are expected to shape Allied Critical Metals' operational direction in the upcoming months. 1Insiders own approximately 31% of Allied. About 16% is held by institutions and institutional investors, and the rest is held by retail shareholders. The company has 170.41 million common shares issued and outstanding. Its market cap is CA$306.7 million. Its 52-week range is CA$0.20–CA$1.88 per share. <h2 style="text-align: center;">American Tungsten</h2> American Tungsten Corp. (TUNG:CSE; TUNGF:OTCQB; RK9:FSE) is actively engaged in tungsten exploration and development in the United States, particularly through its IMA Mine Project, as part of a national effort to boost domestic supplies of this critical metal.[OWNERSHIP_CHART-11409] The company announced initial drilling results from the second drill station on the D-Level of the IMA Mine, located in Lemhi County, Idaho, <a href="https://americantungstencorp.com/news/american-tungsten-extends-strike-length-of-tungsten-mineralization-at-ima-mine-idaho-u-s/" target="_blank" rel="noopener">in a release on March 25</a>. The results have revealed significant tungsten-silver intercepts across all drill holes, confirming the continuity of the polymetallic vein system both northwest along strike and up-dip from previously mined areas. Recently, American Tungsten also completed a minority investment in Viking Mines Ltd., acquiring 150,000,000 ordinary shares for AU$750,000 following approval from Viking Mines shareholders. This investment was part of a larger financing initiative by Viking Mines, as noted <a href="https://americantungstencorp.com/news/american-tungsten-completes-c40-million-bought-deal-financing/" target="_blank" rel="noopener">in a March 17 news release</a>. Additionally, American Tungsten successfully closed a bought deal private placement, raising CA$40,002,060. Stifel Canada led this financing as the lead underwriter and sole bookrunner, supported by a syndicate including Integrity Capital Group Inc. and Canaccord Genuity Corp. The placement priced each of the 14,286,450 units at CA$2.80, which included one Class A common share and half of one warrant, with each full warrant exercisable at CA$3.75 until March 18, 2029. The underwriters earned a commission of approximately CA$2,400,123, or 6.0% of the gross proceeds, and received 857,187 broker warrants exercisable until March 18, 2028. The net proceeds from this financing are earmarked for further exploration and development of the IMA Mine Project, alongside working capital and general corporate purposes. The securities issued were distributed through private placement exemptions in Canada, the United States, and other agreed jurisdictions, subject to a four-month hold period as per applicable securities laws. On the operational front, American Tungsten is conducting a 15,000-foot drill program at the IMA Mine, targeting multiple zones to validate historical drilling results. This program is designed to support a future mineral resource estimate and metallurgical testing, essential for economic studies like a preliminary economic assessment. The company is also evaluating on-surface tailings for potential processing and considering expanding its land holdings through the acquisition of the Mazda claims, pending due diligence, financing, and regulatory approvals. Future development milestones include continued drilling, metallurgical testing, an updated mineral resource estimate, followed by a preliminary economic assessment, and eventually, pre-feasibility and feasibility studies. Additionally, the company has outlined a non-binding letter of intent for US$25.5 million in potential debt financing and a non-binding agreement with a U.S.-based offtake partner. 1<a href="https://www.streetwisereports.com/article/2026/03/17/a-strategic-us-metal-story-advances-as-the-next-technical-leg-begins-to-unfold.html?utm_medium=feed" target="_blank" rel="noopener">John Newell of John Newell & Associates rated American Tungsten</a> as a "Speculative Buy" on March 17, citing the inherent risks typical of junior mining companies but recognizing the company's strong fundamentals and improving technical conditions. He set a near-term target price of CA$4 and a broader target of CA$7, reflecting optimism about the company's prospects. About 1.1% of the company is held by insiders and management, about 14.7% is held by institutions. The rest is retail. The company has approximately 49.03 million shares outstanding and a market capitalization of roughly CA$104.82 million. Over the past 52 weeks, the shares have traded in a range of CA$0.03 to CA$0.23. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Allied Critical Metals Inc. has a consulting relationship with Street Smart an affiliate of Streetwise Reports. Street Smart Clients pay a monthly consulting fee between US$8,000 and US$20,000.</li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Allied Critical Metals Inc. and American Tungsten Corp.</li> <li>Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers. 2. Disclosure for the quote from the John Newell article published on May 17, 2026 <ol start="1" type="1"> <li>For the quoted article (published on May 17, 2026), American Tungsten has paid Street Smart, an affiliate of Streetwise Reports, US$3,000.</li> <li>Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.</li> </ol> John Newell Disclaimer As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance. <img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30906"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30906" width="0" height="0"> ( Companies Mentioned: ACM:CSE; ACMIF:OTCQB; 0VJ0:FSE, AII:TSX;ALM:NASDAQ;ALL:ASX;ALI:Frankfurt, TUNG:CSE; TUNGF:OTCQB; RK9:FSE, FWEDF:OTCMKTS;FWZ:TSX.V), UAMY:NYSEAMERICAN, ) Wed, 15 Apr 2026 00:00:00 PST Massachussetts Biotech Co. Faces Major Melanoma Drug Setback https://www.streetwisereports.com/article/2026/04/14/massachussetts-biotech-co-faces-major-melanoma-drug-setback.html Source: <a href="https://www.streetwisereports.com/article/2026/04/14/massachussetts-biotech-co-faces-major-melanoma-drug-setback.html?utm_medium=feed">Streetwise Reports 04/14/2026</a> Replimune Group Inc.'s (REPL:NASDAQ) RP1 melanoma therapy hits FDA rejection, raising uncertainty around approval timelines and future market potential.<a href="https://www.stockwatch.com/News/Item/U-z9687904-U!REPL-20260410/U/REPL" target="_blank" rel="noopener">A Complete Response Letter (CRL) from the U.S. Food and Drug Administration (USDA) has been released</a> for Replimune Group Inc.'s (REPL:NASDAQ) advanced melanoma cancer drug, RP1. In response to the company's Biologics License Application (BLA), the FDA decided to deny the application, with a senior case member formerly on the project stating that the ". . . BLA clinical team thought the applicant had provided adequate evidence to support contribution of effect of RP1 plus nivolumab, but leadership did not agree." The company offered to meet with the BLA team throughout the review process, but the team declined. The BLA team was 'new' and comprised of members the company had not interacted with before. <a href="https://www.stockwatch.com/News/Item/U-z9687904-U!REPL-20260410/U/REPL" target="_blank" rel="noopener">Sushil Patel, Ph.D., and CEO of Replimune, said in response to the CRL</a>, "It is deeply disappointing that the FDA has not exercised regulatory flexibility to meet patients’ needs given the data supporting strong efficacy and the favorable safety profile. Approximately 8,500 Americans with advanced melanoma die every year. The country's foremost melanoma specialists stood behind the RP1 data. Patients and caregivers pleaded for urgency. All of it was met with inconsistent communication and a fragmented and slow-moving regulatory process which clearly puts U.S. innovation at risk." Patel continued, asserting the cost this delay could have for patients battling melanoma: "As we previously communicated, without timely accelerated approval, the development of RP1 will not be viable. We are devastated for our committed employees who have worked tirelessly for patients, but at this point, we have no choice but to eliminate jobs, including substantially scaling back our U.S.-based manufacturing operations. A treatment desperately needed by patients will not be available. Not because the medicine failed. Because the system did.” The FDA argued that the presented data set was sufficient to allow the drug to be made available to patients, but <a href="https://www.stockwatch.com/News/Item/U-z9687904-U!REPL-20260410/U/REPL" target="_blank" rel="noopener">Replimune disagreed</a>. "In the IGNYTE trial, patients with confirmed progression on an anti-PD-1-based regimen who received RP1 plus nivolumab had a 34% response rate with a median duration of 24.8 months with a favorable safety profile." Much progress has been made in previous BLA meetings, with the FDA permitting the company to submit a BLA based primarily on data from the Phase 2 IGNYTE trial, and even accepted the submission with a 'breakthrough therapy' designation. When Replimune received FDA feedback, a Phase 3 trial to satisfy regulatory requirements began to accelerate approval. But <a href="https://www.stockwatch.com/News/Item/U-z9687904-U!REPL-20260410/U/REPL" target="_blank" rel="noopener">according to an April 10, 2026, Stockwatch.com article</a>, the blame for this denial may lie with the regulatory agency, not the company. The article asserts that several communication issues created contradictions, including: "After testimony from melanoma experts, the agency did not raise further concerns about the heterogeneity of the patient population in IGNYTE and acknowledged that randomizing patients to an anti-PD1-only arm in the confirmatory study was not feasible. Following an agency suggestion, the company submitted a proposal for a descriptive analysis from IGNYTE-3 supporting the contribution of components. The company also included data from IGNYTE showing median progression-free survival on RP1 plus nivolumab was 30.6 months compared to 4.4 months on their prior PD-1-based regimen. The company requested feedback; however, the FDA did not respond and subsequently accepted the resubmission as a complete response to the July 2025 CRL. The FDA raised several points related to tumor assessment methodology. As requested by the FDA, responses in IGNYTE were assessed using RECIST 1.1 without modifications. In addition, the company provided detailed analyses showing no material difference in response rates between injected and non-injected lesions. The company also provided a comprehensive analysis, which showed that biopsies and surgical interventions did not impact tumor response." RP1 (vusolimogene oderparepvec) is based on a proprietary strain of herpes simplex virus engineered with a fusogenic protein (GALV-GP R- and GM-CSF) to attack and kill tumors, and activate the anti-tumor immune response. Replimune is a pharma company focused on cancer treatment based out of Massachusetts, and its RPx platform is the company's primary focus. <h2 style="text-align: center;">Melanoma Market Demands Development</h2> <a href="https://www.stockwatch.com/News/Item/U-z9687904-U!REPL-20260410/U/REPL" target="_blank" rel="noopener">Worldwide, melanoma is the fifth most common form of cancer</a> and was responsible for roughly 8,500 deaths in the U.S. in 2025. Replimune focuses on treating advanced melanoma, which is characterized by a cancerous spread from one tumor to other parts of the body. <a href="https://www.fool.com/investing/stock-market/market-sectors/healthcare/cancer-stocks/" target="_blank" rel="noopener">In a February 26, 2026, article by Keith Speights for The Motley Fool, Speights said</a> that the cost of treating cancer in the U.S. costs roughly US$200 billion in 2020, but that cost is expected to grow to US$245 billion by 2030. A rise in treatment costs also means a rise in stock prices,<a href="https://www.mordorintelligence.com/industry-reports/cancer-therapy-market" target="_blank" rel="noopener"> with Mordor Intelligence writing</a>, "The Cancer Therapy Market size was valued at US$245.18 billion in 2025 and is estimated to grow from US$269.66 billion in 2026 to reach US$446.89 billion by 2031," effectively doubling the market. <h2 style="text-align: center;">Several Analysts Downgrade Stock</h2> According to FactSet, on April 8, 2026, Cantor Fitzgerald analyst Li Watsek gave Replimune a Hold rating with no target price. On the same day, FactSet reported that Piper Sandler analyst Allison Bratzel also gave the company a Hold rating with a US$4 price target. FactSet noted that on April 10, 2026, the below ratings were made: <ol> <li>Leerink Partners analyst Jonathan Chang gave the company a Hold rating with a US$2 target price.</li> <li>WedBush analyst Robert Driscoll gave the company a Hold rating with a US$2 target price. </li> <li>Jefferies analyst Roger Song shared a Buy rating with a US$2 target price. </li> <li>BMO Capital analyst Evan David Seigerman gave the company a sell rating with a US$1 target price.</li> </ol> On April 13, 2026, <a href="https://streetwisereports.com/article/2026/04/13/ma-biotech-co-downgraded-to-sell-after-second-fda-crl-for-rp-1-melanoma-bla.html" target="_blank" rel="noopener">H.C. Wainwright & Co. analysts Robert Burns and Raghuram Selvaraju, Ph.D., downgraded Replimune's stock</a> from a 'Buy' rating to a 'Sell' rating, removing their price target. They cited the ". . . FDA Complete Response Letter (CRL) for the company's lead asset RP-1 that has materially extended — and potentially eliminated — the drug's path to market." [OWNERSHIP_CHART-9741] In reference to the company's financial situation, Burns and Selvaraju wrote, " With no product revenue projected through at least fiscal year 2027, Replimune continues to operate as a pre-commercial entity. The company reported a net loss of US$247.3 million for fiscal year 2025 and is projected to widen its loss to approximately US$307.7 million in fiscal year 2026, before improving modestly to approximately US$250.3 million in fiscal year 2027. Research and development expenses are expected to remain the dominant cost driver, projected at approximately US$219.3 million in fiscal year 2026 and US$187.2 million in fiscal year 2027. On the balance sheet, Replimune held approximately US$269.1 million in cash against US$46.0 million in total debt as of the report date, providing some near-term runway but a limited cushion given the extended development timeline now anticipated." <h2 style="text-align: center;">Ownership & Share Structure1</h2> Replimune Group Inc. has a market cap of US$140.37 million, with 82.57 million shares outstanding. The company's 52-week range is US$1.50-US$13.24. The stock is wholly owned, with Institutions holding 97.32% of shares and Management & Insiders owning 2.68% of shares. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. </li> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> <li>This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.</li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30964"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30964" width="0" height="0"> ( Companies Mentioned: REPL:NASDAQ, ) Tue, 14 Apr 2026 00:00:00 PST Wounded Eagle https://www.streetwisereports.com/article/2026/04/14/wounded-eagle.html Source: <a href="https://www.streetwisereports.com/article/2026/04/14/wounded-eagle.html?utm_medium=feed">Michael Ballanger 04/14/2026</a> Michael Ballanger of GGM Advisory Inc. shares his thoughts on the current state of the market and a few stocks he believes are worth looking into.I was reading an interesting statistic the other day that said that "the ongoing US air war over Iran has been far more dangerous for US pilots than the bombing campaign against Saddam Hussein's Iraq in 2003, or Afghanistan in 2001." In fact, as I read on, this story revealed that up until the war in Iran, the last time the US lost a fixed-wing aircraft was on April 10, 2003, when a surface-to-air missile fired from a location in Baghdad took down an A-10 Thunderbolt II fighter jet. While President Trump was telling the American people that "Iran is unable to carry on the fight" and Secretary of defense Pete Hegseth saying that "Iran's air defense capabilities have been destroyed", the Iranians proved conclusively that both statements were falsified due to the loss of as many as twelve fixed-wing aircraft lost to hypersonic missiles designed by the Russians and the Chinese with software modified by the Iranians. The world has always operated on a dollar-based system of international trade, with the payoff being the "umbrella of defense" guaranteed by the U.S. military. This contract allowed Americans to build bases in places like Bahrain, Kuwait, and Qatar in order to project the aura of invincibility in the region. So, when Wall Street Journal articles are printed that detail mass evacuations of staff at embassies in Bahrain last month, one has to question the efficacy of the term "umbrella" if their air defenses were incapable of stopping the Iranian hypersonic missiles from targeting and actually hitting these bases. In fact, there are reports that claim that all of the American bases in the Middle East suffered "catastrophic damage" meaning that they are no longer usable landing zones for aircraft purported to be "invincible". <h2 style="text-align: center;">Downed US Aircraft in Iran</h2> Herbert Hoover was once quoted as saying that "Wars are ordered by old men but fought by young men," and with the current president's approval ratings in freefall, it cannot be helpful that soaring diesel prices and rising mortgage rates are derailing his efforts to secure a Republican victory next November. If there was one thing that contributed to the agony of the 1973-1974 bear market and recession, it was the sagging popularity of then-President Richard Nixon. The mainstream media led by a couple of cub reporters for the Washington Post (Carl Berstein and Bob Woodward) ran story after story about the Watergate break-in until impeachment became inevitable. In fact, it was eight weeks after Nixon's resignation that stocks bottomed, marking the end of the worst bear market since the Great Depression. Investor sentiment rises and falls with presidential approval ratings, and one of the ways to gauge overall confidence is through the University of Michigan Consumer Sentiment survey, which here in April just hit a record low at 47.6. What this tells me is that while stocks are currently enjoying a relief rally, overall sentiment is not conducive to a prolonged recovery in prices. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/2026414102029_1.png" alt="" width="650" height="349" /> This weekend, Vice-President Vance meets with the Iranian leadership to discuss ways to end the conflict, and if he is successful, then all eyes revert back to the economy, and with the inflationary ramifications of $100 oil, the big question will be on oil supplies and whether or not the war permanently hampered those supplies. Judging from the late-week trading in oil, I would venture a guess as to the market's confidence in these so-called "peace talks" and with oil hovering just below $100/bbl., the odds of a lasting peace and normalized flow of oil through the Strait of Hormuz are long. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/2026414102053_2.png" alt="" width="624" height="278" /> Also interesting is the action in the former market leaders where record highs were registered in the "AI' stocks all through 2025 and into January 2026. With the double-leverage inverse ETF for the Magnificent Seven group of stocks (MAGX:US) down 37.1% from its November top, this ETF is still down 23.1% even after the best week for stocks in 2026. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/2026414102111_3.png" alt="" width="624" height="278" /> Then there was the mighty Tesla Inc. (TSLA:NASDAQ), the former favorite pastime for multi-billionaire soon-to-be-trillionaire Elon Musk, whose overpriced EV manufacturer will soon be relegated to "also-ran" status as his newest beach toy — SpaceX Inc. — is about to become the biggest IPO in Wall Street history. Well, if you are a bear on Tesla Inc. as I am and a fervent opponent to the regulatory Hijinx of its founder, CEO, "product architect", and resident promoter/pitchman Elon Musk, then you have to wonder whether he can juggle two mega-deals at the same time. This is particularly relevant when Wall Street's familiar parade of carnival barkers over at CNBC have pivoted from "Elon Tesla" to "Elon SpaceX" as the next big story to talk about now that Bitcoin has fallen into disrepair and ignobility. Whether it is the Mag Seven, Bitcoin, or Tesla, the leaders of the post-COVID liquidity binge, aided and abetted by the Fed and the Treasury department, are no longer leading, and as of April 10th, 2026, no real leaders have raised their hands or thrown their hats into the leadership ring. One might say that the gold miners have been taking on the leadership role despite the crash we had in March because it has been the miners that have roared back into gear. Despite getting cut in half in March, the HUI:US actually went negative YTD at month-end but has since recovered to a highly-respectable 20.56% gain on the year. Compare that to the S&P 500, which is still negative despite this week being the best week of the year, largely as a result of the cease-fire. Now, it will be curious to see what happens if Monday morning comes along and there is either no deal or a weak deal emanating from Islamabad. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/2026414102135_4.png" alt="" width="624" height="278" /> Silver has been lagging gold badly since the lows of March 23 were seen. Whereas gold has been powering ahead in full recovery mode, silver has been limping along, albeit in an uptrend, but a far cry from the ascent we all witnessed in January. That moonshot in February was one for the record books and while it was fun for those that sold into the late-January madness (as I did, taking huge heat in the process), it was anything but fun for those that not only drank the Kool-Aid but actually gulped it as they are in now a World of Hurt with losses the likes of which cannot be redeemed simply by "holding on". It is my sincere belief that silver will underperform gold and copper for the rest of the year but will test the territory above $100 by year-end. Whether we see record highs for silver will depend totally on the degree to which $100 oil pushes the U.S. economy into "stagflation" mode. If we get elevated inflation readings in the spring-summer period, accompanied by monetary and fiscal stimulus designed to win votes in November, then commodities, led by the metals, will all advance. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/2026414102155_5.png" alt="" width="624" height="278" /> As for my favorite metal — copper — I love the manner in which it is retracing the crash to $5.20/lb. and is now cruising along at $5.85/lb. with $6.00 copper in its crosshairs and that against the backdrop of a cooling global economy and macroeconomic uncertainty flooding the landscape of every continent, irrespective of country. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/2026414102216_6.png" alt="" width="624" height="278" /> The leaders in the metals' equity parade include my beloved Freeport-McMoRan Inc. (FCX:NYSE), which I bought back at or near the 2026 low at $52.30, along with a slew of June $55 calls options in a move I affectionately called the "Damn the torpedoes" moment. Since just after the Covid Crash took everything apart at the seams, I have been magically and mystically attracted to FCX:US and consider it the finest-run mining company in the world, with honourary respect to Canada's Agnico Eagle Mines Ltd. (AEM:TSX; AEM:NYSE) that runs neck-and-neck with FCX:US depending on the time of day and position of the moon and stars. I declare "Advantage Freeport!" only because of its copper content because as a primary producer of gold, there are none that some even close to AEM. However, copper, like oil. Is found literally everywhere. Because of its universality, copper is where I have the major portion of my capital. No market ever goes straight up, and one look at the LME inventories and I get the impression that copper is a great deal stronger than anyone imagines, and that is because it is rising in the face of bloated inventories. Contrarians would argue that this is exactly when you want to BUY copper, when the supplies appear to be ample and demand is weakening. However, when price action spits squarely into the face of elevated supply. I learned a great many years ago to "Always Trust Price" over any other contradicting input. Inventories started to rise in November of last year and have since shown little signs of abatement (meaning "drawdown") but when you try to picture the amount of copper was used up (destroyed) during the five weeks of belligerence in Iran, you are forced to think "replacement" and that means that over the spring and summer of 2026, a great many drones, missiles, and American ejection seats are going to be in full "Rosie the Riveter" production mode as weaponry stockpiles are reconstituted. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/2026414102237_7.png" alt="" width="623" height="383" /> Make no mistake, if there is one vulnerability that the Chinese recognize about their country, it is that they must go "electric". The abject fear that Premier Xi must have felt watching his overdue oil shipments sitting idle, unable to get through the Strait of Hormuz, must have been palpable. China cares not about Iran developing nuclear weapons; they care only about Iranian oil. Until their plan to rid themselves of dependence upon oil has been completed, they will toil feverishly to establish a nation-wide infrastructure of nuclear power, all totally reliant on electricity. With that reliance comes a circular reliance upon metals that conduct electricity, the most notable of which is copper. I continue to hold and add to my junior developers and explorers with trading profits generated from other areas, and while it is maddening to sit and watch the junior names do absolutely nothing for weeks on end, experience has taught me to be patient. Take the example of G2 Goldfields Inc. (GTWO:TSXV) that traded from 2020-2024 in the sub-$1.00 range on skimpy volumes and notable disinterest. Then, in November 2024, it broke out above the $1.00 ceiling and for the past two years has been in a steady state of ascent, culminating with a daring offer from G Mining Ventures (GMIN:TSX.V) that has offered to acquire it for approximately US$2 billion in value. Considering that it has produced a Preliminary Economic Assessment in which it estimates a gold resource of just under 4 million ounces. This means that a new benchmark for "value-per-ounce" calculations has to be in the USD $500 range. While perhaps GMIN:TSX overpaid for GTWO:TSX, but whatever the case may be, juniors like Getchell Gold Corp. (GTCH:CSE; GGLDF:OTCQB)), valued at less than USD $20 per ounce of in-ground gold, are most certainly mispriced in today's irrational market environment. <img class="No_img_class" src="https://www.theaureport.com/images/auto_up/2026414102306_8.png" alt="" width="624" height="278" /> I am eagerly awaiting the results of the 2026 Masters Golf Tournament as much as I am awaiting the outcome of the weekend "peace talks," but while I am rooting heartily for Rory McElroy to repeat as champion, I am also rooting heartily for a serious resolution to the conflict. Markets cannot function when global thermonuclear war is even the most remote of outcomes and one thing of which I am most fearful is a "WOUNDED EAGLE". The Americans have not played the ultimate battle chip, so if the Iranians continue to flaunt their prowess in the beaks of the American Eagle, they had better be prepared for the wrath of the American War Machine, which could be many, many magnitudes more calamitous than the world could ever imagine. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Tesla Inc., Agnico Eagle Mines Ltd., and Getchell Gold Corp.</li> <li>Michael Ballanger: I, or members of my immediate household or family, own securities of: Freeport-McMoRan and Getchell Gold. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.</li> <li>Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. </li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting" target="_blank" rel="noopener">here.</a> Michael Ballanger Disclosures This letter makes no guarantee or warranty on the accuracy or completeness of the data provided. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. This letter represents my views and replicates trades that I am making but nothing more than that. Always consult your registered advisor to assist you with your investments. I accept no liability for any loss arising from the use of the data contained on this letter. Options and junior mining stocks contain a high level of risk that may result in the loss of part or all invested capital and therefore are suitable for experienced and professional investors and traders only. One should be familiar with the risks involved in junior mining and options trading and we recommend consulting a financial adviser if you feel you do not understand the risks involved.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30961"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30961" width="0" height="0"> Tue, 14 Apr 2026 00:00:00 PST Copper Explorer Validates High-Grade 12.7B Pound Resource in Colombia https://www.streetwisereports.com/article/2026/04/14/copper-explorer-validates-high-grade-12-7b-pound-resource-in-colombia.html Source: <a href="https://www.streetwisereports.com/article/2026/04/14/copper-explorer-validates-high-grade-12-7b-pound-resource-in-colombia.html?utm_medium=feed">Streetwise Reports 04/14/2026</a> Copper Giant Resources Corp. (CGNT:TSXV; LBCMF:OTCQB) announces results from drilling at its Mocoa copper-molybdenum porphyry project in Colombia. Find out why two analysts recommend the stock.Copper Giant Resources Corp. (CGNT:TSXV; LBCMF:OTCQB) announced assay results from the initial directional daughter holes drilled at the Mocoa copper-molybdenum porphyry project in Putumayo, Colombia, <a href="https://www.coppergiant.co/news/26500" target="_blank" rel="noopener">according to an April 14 release</a>. This drilling is part of the company's comprehensive 2026 exploration efforts at Mocoa, a Jurassic-age porphyry deposit known for its extensive copper and molybdenum mineralization, which extends from the surface down to depths surpassing 1,100 vertical meters. "These are our first directional daughter holes at Mocoa, and they've delivered exactly what we interpreted," noted Vice President of Exploration Edwin Naranjo Sierra. "The resource model is validated, and in places exceeded, by what we're seeing in core. This precision drilling approach gives us more high-quality data at lower cost while confirming the continuity and predictability of the system. These results are a key step toward resource conversion and advancing Mocoa toward PEA." The results from the daughter holes MD-059 and MD-060, which originated from mother hole MD-057, along with MD-058 from mother hole MD-056, have shown promising outcomes, the company said These results not only meet but in some areas exceed the current Mineral Resource Estimate (MRE) average grade of 0.51% copper equivalent (CuEq), affirming the accuracy and potential underestimation of the existing resource model. Notably, all three holes reached their target depths while still encountering mineralization. Specifically, MD-058 has notably expanded the mineralization along the southern boundary of the project, extending into zones previously considered non-mineral bearing. This expansion not only confirms the presence of valuable minerals but also strengthens the direction towards the La Estrella target, where an additional drilling rig has been deployed to accelerate exploration. These findings are instrumental in transitioning the resource classification from Inferred to Indicated, moving the Mocoa project closer to a Preliminary Economic Assessment (PEA), Copper Giant said in the release. With two drill rigs actively operating at the site, the company continues to advance its exploration capabilities and deepen its understanding of the project's potential. <h2 style="text-align: center;">Improving Geological Insight</h2> Copper Giant Resources Corp. recently reported significant findings from its drilling activities at Mocoa. Hole MD-060 demonstrated impressive results, the company said, yielding 285 meters of 0.61% CuEq, which includes copper (Cu) at 0.47% and molybdenum (Mo) at 0.026%. Notably, within this stretch, a segment of 68 meters registered a higher grade of 0.97% CuEq, comprising 0.70% Cu and 0.051% Mo, starting at 249 meters and continuing to the end of the mineralization. The final 19 meters of this hole showed a grade of 0.67% CuEq, with 0.52% Cu and 0.027% Mo. Similarly, the release noted that Hole MD-059 encountered 198 meters of 0.63% CuEq, with 0.40% Cu and 0.04% Mo. This included a particularly rich section of 141 meters grading 0.71% CuEq (0.47% Cu and 0.05% Mo), beginning at 355 meters and extending to the end of the mineralized zone. Additionally, MD-058 revealed mineralization in a zone previously considered non-mineralized, uncovering 92 meters of 0.39% CuEq (0.34% Cu and 0.01% Mo) within a span of 448 meters starting at 273 meters. This section passed through a newly discovered microdiorite porphyry phase, enhancing the trajectory toward the La Estrella target. The directional daughter hole MD-058, drilled from mother hole MD-056, is part of Copper Giant's strategic expansion to the south of the current MRE footprint at the Mocoa project. This initiative follows up on earlier drilling results from MD-054 and MD-056, which explored the southern margin of the deposit. Historically, this area was only superficially examined by shallow drilling efforts by Ingeominas and the United Nations, which did not fully reveal the depth and potential of the porphyry system. The company said the new data from MD-058 shows significant copper and molybdenum mineralization in regions previously considered low-grade or non-mineralized, thus extending the known mineral system both southward and deeper. These findings align with earlier results from MD-054 and MD-056, enhancing the understanding of mineralization trends along the southern boundary of the project. This improved geological insight has led to the deployment of an additional drill rig, aimed at further exploring this promising area, particularly towards the La Estrella target situated just south of the current MRE zone. Additionally, the company said it executed its infill drilling strategy by completing holes MD-059 and MD-060 from the established mother hole MD-057. This method allows for the exploration of multiple targets from a single location, which enhances drilling efficiency, increases the amount of geological data collected per meter, and minimizes environmental impact. These holes were strategically placed in areas with previously wide drill spacing to densify data and support the upgrade of certain inferred resources to the indicated category, in preparation for future PEA evaluations. Both MD-059 and MD-060 intersected continuous mineralization typical of the Mocoa copper and molybdenum porphyry system, yielding high-grade intervals that meet or exceed the projections of the current MRE model, the release said. These results are crucial as they validate the company's geological and grade models, confirming the continuity and predictability of higher-grade mineral zones within the deposit. This ongoing success in drilling underscores the potential for further resource development and refinement at the Mocoa project. <h2 style="text-align: center;">'Lots of Avenues' Towards Resource Growth at Project</h2> Copper Giant recently disclosed the results from two additional drill holes as part of their 2026 drilling initiative at Mocoa, wrote Red Cloud Analyst Taylor Combaluzier in an updated research note on March 17. The results from the holes were promising, showing extensive intervals of copper and molybdenum mineralization, the analyst said. This drilling effort focused on areas within the MRE block model that had previously seen limited drilling, and it successfully identified significant high-grade mineralization deeper in the southern boundary of the MRE designated area. The company expressed optimism about these findings, stating, "We view these as encouraging results that reinforce our view that there are lots of avenues towards near-term resource growth at Mocoa." The exploration at Mocoa has revealed that large areas of the pit shell, as defined in the latest MRE update, are still under-explored, particularly in the southern sector, Combaluzier said. Here, the drilling results suggest there might be a geological connection with the La Estrella target located further south. This underlines the potential for further mineral discoveries within the project area. The company believes that "further positive drill results should support conversion and expansion of the 12.7B lb CuEq resource at Mocoa." In pursuit of more detailed and comprehensive data to enhance the project's feasibility, Copper Giant is continuing with additional infill drilling, the analyst said. This ongoing drilling campaign aims to prepare for a PEA-level study, indicating a strategic move towards advancing the project's development and understanding its economic potential. "We maintain our BUY rating and target price of CA$1.40/share," Combaluzier wrote. "We use a sum-of-parts method to derive our target price for CGNT, which is largely based on Mocoa. We value Mocoa on an in-situ basis using US$0.03/lb CuEq. We currently apply a conservative 0.40x multiple to our NAVPS estimate of CA$3.49/sh, to account for the classification of resources as inferred and to reflect jurisdictional and development risk." According to FactSet on March 16, 2026, Research Capital analyst Stuard McDougall also gave the company a Buy rating with a CA$1.75 target price. <h2 style="text-align: center;">The Catalyst: Stronger Future for the Red Metal?</h2> Copper price forecasts used in mining studies, which influence investment choices, have risen by approximately 60% since 2020, indicating a fundamentally stronger future for the metal, <a href="https://www.mining.com/copper-outlook-strengthens-as-long-term-assumptions-climb/" target="_blank" rel="noopener">according to a report by Mining.com on April 13</a>. Research conducted by the Chilean consultancy Plusmining, examining over 300 studies submitted between 2015 and 2026, revealed that base-case copper price predictions have increased from around US$3 per pound during 2015–2020 to an average of about US$4.80 per pound by early 2026. Even after accounting for inflation, long-term projections are still approximately 28% higher in real terms compared to 2020 levels. However, these projections generally remain below current spot prices and fall within historical ranges when compared to past averages. "These patterns suggest companies are not materially over-optimistic, despite raising their long-term expectations," says Andrés González, head of Mining Industry Analysis and author of the study. "Assumptions remain anchored to observable market benchmarks rather than short-term price spikes." This shift indicates a significant change in copper’s demand dynamics as the global transition to renewable energy gains momentum, the piece said. Electric vehicles require significantly more copper than conventional cars, and the expansion of renewable energy systems, power grids, and data centers is driving continuous growth in consumption. This has strengthened the belief that demand will surpass supply in the coming years, embedding a narrative of structural deficit within the industry. This outlook is further intensified by increasing supply challenges. Diminishing ore grades, more complex project development, and permitting processes that can take years are restricting new supply. With an average lead time of 17 years from discovery to production, projects approved today are unlikely to yield significant output until the 2040s. Recent disruptions have highlighted the market's vulnerability. Operational challenges in 2025 at major mines such as Grasberg, Kamoa-Kakula, and El Teniente further tightened supply, driving London Metal Exchange copper prices above US$6 per pound in early 2026 — levels that remain historically high even after adjusting for inflation. "The implications for supply are significant," González wrote. "Projects once considered uneconomic at lower price assumptions are being reassessed, and previously sidelined assets are returning to development pipelines. Capital is beginning to follow, as producers reposition portfolios to secure future copper exposure." Major mining companies are accelerating this transition through consolidation and project integration, with notable merger attempts and asset combinations aimed at unlocking scale and synergies. "As capital flows increasingly toward both new and existing projects, owning copper resources is becoming a strategic priority that will shape the sector’s long-term direction," he said. Price increases driven by the conflict in the Middle East have raised expenses for Codelco, the world's leading copper producer, <a href="https://www.reuters.com/world/americas/middle-east-war-drives-up-codelco-copper-costs-chile-2026-04-13/" target="_blank" rel="noopener">reported Fabian Cambero for Reuters on April 13</a>. Despite this, the Chilean state-owned company remains on course to achieve its production target for 2026, according to Chairman Maximo Pacheco in an interview with Reuters. Codelco plans to produce 1.344 million metric tons of copper this year, following a decline to a 25-year low in 2022 and 2023. The company aims to further increase output to 1.7 million tons by 2030.[OWNERSHIP_CHART-9583] The ongoing conflict in the Middle East has increased Codelco's cash costs by at least 10 cents per pound, which Pacheco described as significant. He noted that "the biggest challenge for the industry is operational continuity," emphasizing the growing difficulty in copper production. However, Codelco has managed to mitigate some of the impact by securing enough sulfuric acid, essential for production, to last the entire year before prices began to rise. "We can weather the current situation with sulfuric acid with relative ease," Pacheco stated. In the first quarter, Codelco produced 271,300 tons of copper, a decrease from the previous year due to planned maintenance, but still within expected levels, according to Pacheco. <h2 style="text-align: center;">Ownership and Share Structure1</h2> 10.74% of Copper Giant is owned by management and insiders with Frank Giustra holding the most with 9.37%. The rest is retail. Copper Giant has 207.66 million shares outstanding, a market cap of CA$149.52 million, and a 52-week range of CA$0.15 - CA$1. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Copper Giant.</li> <li>Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. </li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting" target="_blank" rel="noopener">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers. <img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30960"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30960" width="0" height="0"> ( Companies Mentioned: CGNT:TSXV; LBCMF:OTCQB, ) Tue, 14 Apr 2026 00:00:00 PST The Company Quietly Powering Next-Generation AI Chips https://www.streetwisereports.com/article/2026/04/14/the-company-quietly-powering-next-generation-ai-chips.html Source: <a href="https://www.streetwisereports.com/article/2026/04/14/the-company-quietly-powering-next-generation-ai-chips.html?utm_medium=feed">Scott Searle 04/14/2026</a> ROTH Capital Partners reiterated its rating on Adeia Inc. (ADEA:NASDAQ), citing accelerating hybrid bonding adoption in logic chiplets (AMD, Broadcom), 3D NAND (Kioxia, Sandisk), and HBM4e DRAM.Following a "Tech Talk" hosted with Dr. Laura Markirimi, SVP of Engineering at Adeia Inc. (ADEA:NASDAQ), ROTH Capital Partners is maintaining its Buy rating and US$34.00 price target on the shares. Analyst Scott Searle comes away from the event more positive on both the Hybrid Bonding (HB) and Direct-to-Chip (DTC) cooling outlook for 2026 and beyond, highlighting that all roads for higher-density memory and next-generation data center and AI processing lead to hybrid bonding, and that RapidCool's DTC adoption appears to be a matter of "when, not if." <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">Hybrid Bonding: The Core Thesis</h2> Hybrid bonding — which dates to Adeia's 2015 acquisition of Ziptronics for US$39 million by then-parent Tessera — now encompasses a portfolio of over 1,100 patents covering methods, processes, and chemistries. The technology enables wafers and dies to be bonded at fine pitch geometries down to 1 micron, delivering more than 30% power consumption savings, improved speed and latency, better thermal characteristics, and lower costs versus legacy interconnect and packaging solutions. With data centers estimated to have consumed over 4% of US electricity in 2023 and demand potentially tripling by 2028, the analyst views power efficiency as a key structural driver of HB adoption. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">Logic Chiplets: AMD Deal as a Seminal Catalyst</h2> The recently announced multi-year licensing agreement between Adeia and Advanced Micro Devices Inc. (AMD:NASDAQ) for Adeia's comprehensive semiconductor IP portfolio is described as "a seminal event" that validates HB in logic applications. While financial terms were not disclosed, Searle estimates quarterly royalty payments could begin at approximately US$2 million at the low end before ramping to US$5–10 million or more per quarter as HB is adopted more broadly across AMD's product portfolio. The analyst views the AMD deal as a precursor to additional logic licensing agreements in 2026, with Broadcom Inc. (AVGO:NASDAQ) cited as a likely near-term candidate, alongside Intel Corp. (INTC:NASDAQ), Marvell Technology Inc. (MRVL:NASDAQ), vertically integrated hyperscalers including Amazon.com Inc. (AMZN:NASDAQ), Alphabet Inc. Class A (GOOGL:NASDAQ), and Meta Platforms Inc. (META:NASDAQ), and potentially Nvidia Corp. (NVDA:NASDAQ). Longer term, HB is expected to expand beyond data centers into edge processing and autonomous applications. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">High-Density Memory: NAND and HBM DRAM</h2> Within high-density memory, hybrid bonding is gaining adoption across both NAND and HBM DRAM. In 3D NAND, Kioxia and Western Digital Corp./Sandisk (SNDK: NASDAQ) are current users, with adoption yielding better performance, including more than 30% power reduction and market share gains. By 2030, Allied Market Research projects 3D NAND to represent a US$78 billion market, and Adeia has approximately 90% of the market currently licensed. Near-term revenue growth is expected to be driven by Kioxia and Sandisk, which together hold more than 25% combined market share, as they ramp production. SK Hynix is expected to follow with HB-enabled solutions in 2026–2027. Separately, Samsung Electronics Co. Ltd, SK Hynix, and Micron Technology Inc. (MU:NASDAQ) are already licensed under pre-existing agreements, though with no per-unit royalties — a dynamic expected to shift materially when renewals occur in 2027 and beyond. On the DRAM side, HB adoption is expected to coincide with the commercialization of HBM4e, beginning in 2027. Over 90% of the DRAM market is currently licensed for existing Adeia solutions (primarily wafer-level packaging), but those deals predominantly involved one-time fixed fees that expire in 2027–2028. The analyst anticipates renegotiated agreements will carry meaningfully better unit-based economics. Searle addresses recent investor concerns about JEDEC's potential relaxation of HBM thickness standards, characterizing them as "a red herring" that misses the core driver of HB adoption — performance benefits, including power and thermal efficiency, not form factor — and notes that HB adoption timelines in HBM DRAM remain unchanged. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">TAM and Timing</h2> Across NAND, HBM4 DRAM, and logic chiplets, the analyst believes the total addressable market for hybrid bonding licensing could exceed US$200 million by 2030, and that Adeia can surpass US$100 million in semiconductor sales even without the contribution of DRAM renewals. Recurring semiconductor licensing revenue is modeled to grow from approximately US$24 million in 2025 to US$78 million in 2027, with further acceleration anticipated in 2028 as DRAM renewals are consummated. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">RapidCool: Direct-to-Chip Cooling</h2> Adeia's RapidCool DTC liquid cooling technology reduces thermal resistance by more than 70% through specialized silicon cold plates bonded directly to chips, enabling 2–3x current power densities within existing infrastructure — a key differentiator versus immersion cooling solutions that require full architectural replacements. Given that cooling represents approximately 40% of data center power consumption, commercialization potential is seen as meaningful. Early trials have been encouraging, and the company targets commercial availability in as little as three years (2028+). Importantly, RapidCool is not currently reflected in the analyst's financial estimates, representing potential upside to the model. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">Financial Estimates and Valuation</h2> Searle models fiscal 2026 revenue of US$416.1 million, adjusted EBITDA of US$234.9 million, and non-GAAP EPS of US$1.39, followed by fiscal 2027 revenue of US$450.4 million, adjusted EBITDA of US$272.5 million, and non-GAAP EPS of US$1.69. Despite more than doubling since mid-December 2025, ADEA trades at approximately 17x calendar 2027 estimated EPS and 7x+ EV/2027E sales — a discount of more than 30% to peers in the IP/licensing group. The analyst sees a "very reasonable path" to US$3.00 or more in adjusted non-GAAP EPS by 2030 and views the shares as meaningfully undervalued relative to the long-term opportunity. <h2 class="font-claude-response-body break-words whitespace-normal leading-[1.7]" style="text-align: center;">Risks</h2> Key risks cited include the global macroeconomic environment, uncertainty around OTT licensing progress Netflix Inc. (NFLX:NASDAQ) and Walt Disney Co. (DIS:NYSE) remain unlicensed, with litigation filed against Disney in November 2024), the pace of hybrid bonding adoption, execution risk around DRAM renewal negotiations, and the company's remaining debt load of approximately US$450 million — though Adeia's annualized free cash flow of more than US$150 million is expected to support a leverage target of 2x adjusted EBITDA within 12–18 months. The analyst maintains a Buy rating and US$34.00 price target, equivalent to approximately 20x calendar 2027 estimated adjusted non-GAAP EPS. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Micron Technology Inc. and Intel Corp.</li> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> Disclosures for Roth Capital Partners, Adeia Inc., April 14, 2026 Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report. For important disclosure information regarding the companies in this summary report, please contact the Director of Research at (800) 678-9147 or write to: ROTH Capital Partners, LLC, Attention: Director of Research, 888 San Clemente Drive, Newport Beach, CA 92660 Disclosures: Within the last twelve months, ROTH Capital Partners, or an affiliate to ROTH Capital Partners, has received compensation for investment banking services from Adeia Inc. and CEVA Inc.. A household member of the research analyst principally responsible for the preparation of research reports on Amazon.com, Inc. is an employee of Amazon.com, Inc. in a non-officer, non-director, and non-advisory board member position. An Associated Person owns debt or equity securities of Meta Platforms, Inc.. A Research Analyst and/or a member of the Analyst's household own(s) debt or equity securities of Adeia Inc. and Amazon.com, Inc.. Within the last twelve months, ROTH Capital Partners, or an affiliate to ROTH Capital Partners, has managed or co-managed a public offering for CEVA Inc.. Distribution of IB Services Firmwide IB Serv./Past 12 Mos. as of April 13, 2026 Rating Count Percent Count Percent Buy [B] 390 76.47 114 29.23 Neutral [N] 90 17.65 7 7.78 Sell [S] 3 0.59 1 33.33 Under Review [UR] 27 5.29 6 22.22 Our rating system attempts to incorporate industry, company and/or overall market risk and volatility. Consequently, at any given point in time, our investment rating on a stock and its implied price movement may not correspond to the stated 12-month price target. Ratings System Definitions - ROTH Capital employs a rating system based on the following: Buy: A rating, which at the time it is instituted and or reiterated, that indicates an expectation of a total return of at least 10% over the next 12 months. Neutral: A rating, which at the time it is instituted and or reiterated, that indicates an expectation of a total return between negative 10% and 10% over the next 12 months. Sell: A rating, which at the time it is instituted and or reiterated, that indicates an expectation that the price will depreciate by more than 10% over the next 12 months. Under Review [UR]: A rating, which at the time it is instituted and or reiterated, indicates the temporary removal of the prior rating, price target and estimates for the security. Prior rating, price target and estimates should no longer be relied upon for UR-rated securities. Not Covered [NC]: ROTH Capital does not publish research or have an opinion about this security. ROTH Capital Partners, LLC and its affiliates expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months. The material, information and facts discussed in this report other than the information regarding ROTH Capital Partners, LLC and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This report should not be used as a complete analysis of the company, industry or security discussed in the report. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this report are subject to change without notice. An investment in the stock may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, an investment in the stock may involve a high degree of risk and may not be suitable for all investors. No part of this report may be reproduced in any form without the express written permission of ROTH. Copyright 2026. Member: FINRA/SIPC.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30958"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30958" width="0" height="0"> ( Companies Mentioned: ADEA:NASDAQ, ) Tue, 14 Apr 2026 00:00:00 PST Lara Raises Equity With Major New Shareholder https://www.streetwisereports.com/article/2026/04/14/lara-raises-equity-with-major-new-shareholder.html Source: <a href="https://www.streetwisereports.com/article/2026/04/14/lara-raises-equity-with-major-new-shareholder.html?utm_medium=feed">Adrian Day 04/14/2026</a> Global Analyst Adrian Day assesses recent developments at some companies on his list.Lara Exploration Ltd. (LRA:TSX.V) said it raised C$33,750,000 in its recent offering, just closed, including a new major shareholder. Atalaya Mining, a $1.5 billion Spanish copper producer and member of the FTSE 250 Index, purchased C$13.5 million shares for 7.3% of the outstanding shares, becoming the third-largest shareholder after my management firm and chairman Miles Thompson. As discussed (see Bulletin #1001), this raise gives the company sufficient funds to advance its Planalto Copper project in Brazil to feasibility, and we expect good news flow going forward. Buy. <h2 style="text-align: center;">Royal Gold Sees Five-Year Growth, With More Beyond</h2> Royal Gold Inc. (RGLD:NASDAQ) issued its first five-year guidance (after repeated nagging from analysts at the big Canadian firms!). It is targeting a range between 430k and 480k GEO, which would be 17% growth over this year. The underwhelming headline number excludes Royal's 30% equity interest in the Hod Maden project in Turkey, which it obtained when it bought Sandstorm, and which it wants to convert into a royalty or stream. It includes several expected expansions, but overall may be conservative, and of course, any potential acquisition over the next five years. It also has some large projects expected to start in the few years after 2030, so its longer-term growth profile is quite positive. For this year, Royal is guiding between 366k and 409k GEO, slightly weighted towards the second half of the year. That is growth of 25% over last year. It excludes a few possible deliveries with unknown timing, such as silver delivery catch-up at Pueblo Viejo, so is reasonably conservative. Royal said it has repaid $125 million on its credit facility last month, reducing the balance to $600 million. It has available funds of $800 million. The announcements came ahead of an "investor day" where the company laid out its strategy, growth drivers, and differentiation from other large royalty companies, as well as how it believes it is undervalued relative to its peers. For interested investors, the two-and-a-half hours is well worth watching. <a href="https://www.royalgold.com/home/default.aspx" target="_blank" rel="noopener">You can find it on the Royal Gold webpage</a>, under "investor resources". You will need to register (so I can't provide a direct link). With 90% of this year's revenue from precious metals, of which 80% is from gold, Royal said it had the most diversified asset base of the majors, with more growth, and noted that its biggest knock, the average duration of its assets, has improved. It is undervalued relative to the majors on nearly all metrics. Hold for now, but buy on dips. <h2 style="text-align: center;">Barrick Moves Ahead With North American IPO</h2> Barrick Mining Corp. (ABX:TSX; B:NYSE) announced the formation of a new leadership group to pursue its North American IPO, a signal to the market that it intends pushing ahead. After catching up last year, the stock is lagging again this. We have concerns about the company's new strategy as well as the effectiveness of the proposed IPO if it goes ahead as planned. It also (finally) confirmed the press reports that it was slowing the development of Reko Diq, saying that it continues "to believe in the long-term value" of the project. It also said that there would be "significant" increases to the estimated capital and extension of the timeline. Hold. Wheaton Precious Metals Corp. (WPM:TSX; WPM:NYSE) has acquired a $275 million gold-silver stream on the Jervois Project, a primary copper deposit in the Northern Territory in Australia. Though small, this is a good deal in a positive jurisdiction with favorable returns (12% IRR). The project is expected to be fully operation in 2027. This is Wheaton's first transaction in Australia, a country where royalty and stream funding is beginning to gain acceptance. Hold. TOP BUYS this week, in addition to the above, include Metalla Royalty & Streaming Ltd. (MTA:TSX.V; MTA:NYSE American). We are buying little this week after the strong rally at the end of last week. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Lara Exploration Ltd., Barrick Mining Corp., Wheaton Precious Metals Corp., and Metalla Royalty & Streaming Ltd.</li> <li>Adrian Day: I, or members of my immediate household or family, own securities of: All. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: All. I determined which companies would be included in this article based on my research and understanding of the sector.</li> <li>Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. </li> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting" target="_blank" rel="noopener">here.</a> Adrian Day Disclosures Adrian Day’s Global Analyst is distributed for $990 per year by Investment Consultants International, Ltd., P.O. Box 6644, Annapolis, MD 21401. (410) 224-8885. www.AdrianDayGlobalAnalyst.com. Publisher: Adrian Day. Owner: Investment Consultants International, Ltd. Staff may have positions in securities discussed herein. Adrian Day is also President of Global Strategic Management (GSM), a registered investment advisor, and a separate company from this service. In his capacity as GSM president, Adrian Day may be buying or selling for clients securities recommended herein concurrently, before or after recommendations herein, and may be acting for clients in a manner contrary to recommendations herein. This is not a solicitation for GSM. Views herein are the editor’s opinion and not fact. All information is believed to be correct, but its accuracy cannot be guaranteed. The owner and editor are not responsible for errors and omissions. © 2023. Adrian Day’s Global Analyst. Information and advice herein are intended purely for the subscriber’s own account. Under no circumstances may any part of a Global Analyst e-mail be copied or distributed without prior written permission of the editor. Given the nature of this service, we will pursue any violations aggressively. <img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30956"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30956" width="0" height="0"> ( Companies Mentioned: ABX:TSX; B:NYSE, LRA:TSX.V, RGLD:NASDAQ, WPM:TSX; WPM:NYSE, ) Tue, 14 Apr 2026 00:00:00 PST Silver-Gold Producer Launches TSX Trading Breakthrough in Canada https://www.streetwisereports.com/article/2026/04/13/silver-gold-producer-launches-tsx-trading-breakthrough-in-canada.html Source: <a href="https://www.streetwisereports.com/article/2026/04/13/silver-gold-producer-launches-tsx-trading-breakthrough-in-canada.html?utm_medium=feed">Streetwise Reports 04/14/2026</a> Contango Silver & Gold Inc. says its common stock has been approved for listing on the Toronto Stock Exchange. Read why one has raised his target price.Contango Silver & Gold Inc. (CTGO:NYSEA; CTGO; TSX) announced that its common stock has been approved for listing on the Toronto Stock Exchange (TSX) and commenced trading on April 13, under the symbol "CTGO," <a href="https://contangoore.com/contango-announces-listing-on-toronto-stock-exchange/" target="_blank" rel="noopener">according to an April 13 release</a>. The CUSIP number for these shares remains 21077F100, consistent with its listing on the New York Stock American Exchange (NYSE American), the company said. "We are pleased to have our Common Shares listed on the TSX, a premier global market for the metals and mining industry," Chief Executive Officer Rick Van Nieuwenhuyse. "Canada’s investment community possesses a deep, fundamental understanding of the resource space, making the TSX the natural home for our company as we scale." He highlighted the company's robust cash flows from its Manh Choh operations and its promising portfolio of high-grade silver and gold projects in Alaska and British Columbia. Van Nieuwenhuyse believes that these factors make Contango an attractive investment opportunity, particularly in light of the company's commitment to the Kitsault Valley project in British Columbia. Van Nieuwenhuyse said he looks forward to the increased visibility and liquidity that the TSX listing offers, which will support the company's exploration and development initiatives and reinforce its position in the Canadian mining sector. However, the exchangeable shares of Dolly Varden Silver Corp., an indirect wholly owned subsidiary of Contango known as ExchangeCo, will not be listed on any exchange, the release noted. Holders of these shares are advised that they can only trade their exchangeable shares by converting them into common shares, as transfers to third parties are restricted without company consent — a consent that will only be granted if permissible by the TSX. To ensure compliance, Contango and ExchangeCo have committed to the TSX that they will not allow the transfer of exchangeable shares without prior written approval from the TSX, except under specific legal circumstances or to a designated subsidiary following proper exchange procedures, Contango said. Additionally, no new issuance of exchangeable shares will occur without TSX's prior approval. Contango said it will use its voting rights as the sole voting shareholder of ExchangeCo to enforce these commitments, which will be disclosed in this press release and in annual filings as long as the exchangeable shares are outstanding. Contango is listed on both the NYSE American and TSX and engaged in the exploration, development, and production of gold and associated minerals primarily in Alaska and the Golden Triangle in British Columbia. The company holds significant interests and leases across various projects in these regions, including a 30% stake in the Peak Gold JV currently in production, and controls a substantial land area for exploration and development. Other notable projects include the Johnson Tract project, the Lucky Shot project, and extensive mineral rights in Alaska and British Columbia, positioning Contango as a significant player in the North American mining industry. <h2 style="text-align: center;">Merger Gets Green Light</h2> Last month, <a href="https://www.streetwisereports.com/article/2026/03/27/contango-ore-dolly-varden-complete-transformative-merger.html?utm_medium=feed" target="_blank" rel="noopener">Contango and Dolly Varden announced the successful completion</a> of their merger after receiving the green light from both shareholders and the courts. For those seeking more detailed information on the merger, it is available in Contango's definitive proxy statement and in Dolly Varden's management information circular, which can be found on Contango's website and on Dolly Varden's SEDAR+ profile, respectively. The merged entity, which continues under the name Contango Silver & Gold Inc., brings together Contango’s profitable Manh Choh gold mine and its advanced exploration projects in Alaska with Dolly Varden's high-grade Kitsault Valley silver-gold project in British Columbia. This union creates a substantial North American mid-tier precious metals producer with a diverse portfolio ranging from advanced exploration to production, large cash reserves, and minimal debt. The leadership team for the merged company includes Van Nieuwenhuyse as CEO, Shawn Khunkhun as President, and Mike Clark as Executive Vice President and Chief Financial Officer. The board is chaired by Clynt Nauman, among others. Van Nieuwenhuyse shared his optimism about the merger at the time, stating, "This merger marks the start of an exciting new chapter," and emphasized the combined entity’s robust financial foundation, significant growth potential, and outstanding exploration opportunities. Khunkhun also remarked on the strategic advantages of the merger, noting that "Contango Silver & Gold offers investors exposure to an emerging North American mid-tier producer focused on high-grade silver and gold assets." <h2 style="text-align: center;">Analyst Raises Target Price on Contango</h2> This union is set to create a combined entity boasting a cash reserve of over US$112 million, which will serve as a crucial, non-dilutive financial resource for further exploration activities at the Kitsault Valley, Lucky Shot, and Johnson Tract projects, according to a research note by Analyst Richard Gray of Cormark Capital Markets on March 19. Gray rated the stock Outperform with a US$50 per share price target, a 155% increase from the price at time of writing. In a special meeting on March 17, Contango's shareholders passed all three proposals essential to the merger with Dolly Varden Silver, as detailed in a recent announcement, Gray noted. The first proposal approved the issuance of new Contango shares to Dolly Varden shareholders, where each share of Dolly Varden will be exchanged for 0.1652 of a Contango voting common stock share. The second proposal saw shareholders green-lighting a substantial increase in the company's share count from 45 million to 250 million shares. The third and final proposal ratified the new 2026 Omnibus Incentive Plan. The terms of the merger dictate that existing shareholders of both Contango and Dolly Varden will each own about 50% of the newly merged company on a fully diluted basis, the analyst noted. The exchange ratio has been set at 0.1652 Contango share per Dolly Varden share. Post-merger, the combined entity will possess approximately US$112 million in cash and US$34 million in debt. The merged company will manage a diversified portfolio including the operational Manh Choh mine in Alaska, and high-grade projects such as Lucky Shot and Johnson Tract in Alaska, along with Dolly Varden's historically significant Kitsault Valley project in British Columbia, which has previously produced 20 million ounces Moz of silver and currently holds resources estimated at 64 Moz of silver and 1 Moz of gold. This merger not only diversifies the company’s portfolio across North American jurisdictions but also creates a larger, better-capitalized platform with balanced ownership between the merging entities, Gray said. "Following shareholder approval, we have updated our valuation to reflect the combined company," he wrote. "Our new NAV of US$50 (down from US$66 previous) ascribes US$410 million of value to Kitsault Valley, … includes the US$46 million of cash from Dolly Varden, but is offset by the issuance of an estimated 15.2 million shares to complete the transaction. Despite the lower per-share NAV, we are raising our target price to US$50 (from US$46) on the back of an increased target multiple of 1.00x NAV (up from 0.70x previously), which reflects the new silver optionality in the shares, a Canadian stock listing, and the reduction in the hedge position after the recent equity financing by Contango." <h2 style="text-align: center;">A 'Merger of Equals'</h2> <a href="https://markets.financialcontent.com/stocks/article/marketminute-2026-3-26-consolidation-in-the-north-contango-ore-and-dolly-varden-silver-complete-landmark-merger-to-create-precious-metals-powerhouse" target="_blank" rel="noopener">A March 26 article by MarketMinute for FinancialContent.com</a> described the merger between Contango and Dolly Varden Silver as a "transformative move for the North American mining sector." In a March 26 research note, Cantor Fitzgerald Analyst Mike Kozak referred to the merger's completion as a "modest positive," creating a mid-tier miner with significant cash flow and exploration potential. Kozak maintained a Speculative Buy rating and a price target of US$29/share for Contango. On the same day, Research Capital Corp. Analyst Stuart McDougall announced the discontinuation of coverage for Dolly Varden, advising that the shares would be delisted and investors should no longer rely on previous recommendations. <a href="https://thegoldadvisor.com/the-gold-advisor/newsletters/westward-gold-dolly-varden-silver/" target="_blank" rel="noopener">Senior Analyst Jeff Valks from The Gold Advisor commented</a> on the shareholder votes for the merger, noting the overwhelming approval from Dolly Varden's shareholders at 98.78% and a similar positive response from Contango's shareholders. Valks highlighted the strategic consolidation of assets under the merger, often seen as a "merger of equals," and praised Dolly Varden's significant pre-merger drill results which will now enhance Contango's portfolio. Valks described Contango's market position as multifaceted, being part explorer, developer, and producer, and advised a cautious approach to buying more shares post-merger. <a href="https://thegoldadvisor.com/silver-stock-investor/newsletters/quality-silver-miners-perform-attractive-silver-plays-9-company-updates/" target="_blank" rel="noopener">Peter Krauth of The Silver Advisor also highlighted</a> Dolly Varden's value among peers on February 25, recommending the company for further research and consideration. <h2 style="text-align: center;">The Catalyst: Negotiations Breakdown Hits Gold, Silver Markets</h2> Gold's price has declined to between US$4,730 and US$4,750, a drop of approximately 0.5-1%, amid escalating geopolitical tensions and a surge in oil prices past US$104, <a href="https://www.fxempire.com/forecasts/article/gold-xauusd-silver-price-forecast-gold-eyes-4800-resistance-amid-blockade-shock-is-a-breakout-imminent-1591116" target="_blank" rel="noopener">according to a report by Arslan Ali for FX Empire on April 13</a>. The breakdown of US-Iran negotiations and a US naval blockade have heightened concerns about persistent inflation. Additionally, a strengthening U.S. dollar, which rose by about 0.3%, is negatively impacting gold's appeal as it does not yield interest. The anticipation of a ceasefire has diminished, causing investors to reconsider the Federal Reserve's approach to interest rates. Higher energy costs may slow the pace of interest rate cuts, potentially capping gold's short-term gains. However, ongoing central bank purchases and investments in gold ETFs are expected to support its price. Analysts predict gold might experience sideways movement, influenced by a stronger dollar and an unclear inflation scenario, but geopolitical flare-ups could drive a rush to gold for safety. Gold traded around US$4,725, maintaining its position above the trendline support near US$4,700. The price is stabilizing, with the 50-day EMA flat at current levels and the 200-day EMA at about US$4,800, acting as a resistance ceiling. The RSI is neutral at 50, indicating uncertainty among traders. A potential rise above US$4,800 could lead to a target of US$4,860, but a drop below $4,700 might push prices down to US$4,650. Silver is currently priced at US$74.30, testing a key support zone between US$73.80 and US$74.00, aligned with an uptrend line, Ali wrote. Despite soft overall momentum, there are signs of buying interest at this level. The 50-day EMA at US$75 is acting as resistance, with the 200-day EMA at US$77. The RSI, hovering around 45-50, suggests a weak bullish outlook. A successful move above US$75 could target US$77, but failing to maintain above US$73.80 could signal further declines. The gold-silver ratio, a measure of the relative performance of gold to silver, has increased significantly from below 45 in January to around 62 in March, and was near 63.7 on April 13, <a href="https://www.livemint.com/market/commodities/goldsilver-ratio-rises-to-63-7-which-precious-metal-gold-or-silver-should-you-pick-amid-rising-us-iran-war-tensions-11776063951370.html" target="_blank" rel="noopener">according to a report by Pranati Deva for Mint Markets on April 13</a>. This rise indicates a shift in investor preference towards gold, especially since the ratio had previously spiked above 100 in April 2025 before falling earlier this year. The current increase suggests that investors are favoring gold as a safer asset amid global uncertainty. Despite gold's relative strength, both gold and silver prices faced downward pressure recently. On Monday, spot gold dropped by 0.4% to US$4,726.64 per ounce, reaching its lowest point since April 7 at US$4,643. U.S. gold futures for June also fell by 0.8% to $4,748.70. Silver experienced even greater losses, with spot prices decreasing by 1.9% to US$74.41 per ounce. [OWNERSHIP_CHART-8181] The decline in precious metals prices was influenced by a stronger dollar, which rose by 0.4%, and a significant increase in crude oil prices, which surged to around US$104 per barrel following the collapse of U.S.-Iran peace talks and a U.S. naval blockade of the Strait of Hormuz, Deva wrote. These developments have heightened inflation concerns and altered expectations regarding U.S. Federal Reserve interest rate cuts, with traders now seeing little likelihood of a rate reduction this year. The gold-silver ratio is used to determine how many ounces of silver are required to purchase one ounce of gold, with a rising ratio indicating gold's outperformance over silver. Analysts predict that the ratio could continue to climb, potentially reaching 68 in the near term and possibly 75, reflecting ongoing relative weakness in silver, the article said. <h2 style="text-align: center;">Ownership and Share Structure1</h2> About 10% of Contango ORE is held by insiders, about 45% by institutions, and the rest, 45%, is retail. Top shareholders include Franklin Advisers Inc. with 2.49%, John P. Juneau with 2.32%, The Vanguard Group Inc. with 2.2%, Kenneth R. Peak Marital Trust with 2.19%, and BlackRock Institutional Trust Co. with 2.05%. Its market cap is US$748.69 million with 32.1 million shares outstanding. It trades in a 52-week range of US$11.23 and US$34.38. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>Dolly Varden Silver Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.</li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Contango Silver & Gold Inc.</li> <li>Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30951"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30951" width="0" height="0"> ( Companies Mentioned: CTGO:NYSEA; CTGO;TSX, ) Tue, 14 Apr 2026 00:00:00 PST Newly Secured Ground Extends Mineral System Beyond Known Boundaries in Peru https://www.streetwisereports.com/article/2026/04/14/newly-secured-ground-extends-mineral-system-beyond-known-boundaries-in-peru.html Source: <a href="https://www.streetwisereports.com/article/2026/04/14/newly-secured-ground-extends-mineral-system-beyond-known-boundaries-in-peru.html?utm_medium=feed">Streetwise Reports 04/14/2026</a> Coppernico Metals Inc. (COPR:TSX; CPPMF:OTCQB; 9l3:FSE) added 600 hectares under option near its Tipicancha target and staked another 1,400 hectares.<a href="https://www.streetwisereports.com/pub/co/11082?utm_medium=feed" target="_blank" rel="noopener">Coppernico Metals Inc. (COPR:TSX; CPPMF:OTCQB; 9l3:FSE)</a> reported <a href="https://coppernicometals.com/coppernico-options-key-concessions-at-sombrero/" target="_blank" rel="noopener">that it has acquired an option on mineral concessions totaling 600 hectares adjacent to its Tipicancha target at the Sombrero Project in Peru.</a> The concessions, referred to as the Horizonte Concessions, are located in an area where the Company believes the Tipicancha epithermal-porphyry system continues beyond the current project boundaries. The company also stated that it staked an additional 1,400 hectares of surrounding concessions in 2025 while discussions regarding the Horizonte Concessions were ongoing, expanding its land position at Tipicancha. According to the Company, the Sombrero Project currently covers approximately 57,000 hectares. The option agreement was entered into between Exploraciones Horizonte Gold S.A.C. and Coppernico’s wholly owned subsidiary, Sombrero Minerales S.A.C. Under the terms of the agreement, the subsidiary has immediate rights to conduct exploration activities and may acquire the concessions by completing US$3.0 million in staged work expenditures over five years and making total payments of US$2.0 million. The agreement provides Coppernico with full operational control during the option period. If exercised, the option grants the Optionor a 1% net smelter return royalty, with Coppernico retaining the right to reduce it to 0.5% through a one-time payment of US$1.0 million within 10 years. The company stated that the concessions are in good standing with no known encumbrances or environmental liabilities. <a href="https://coppernicometals.com/coppernico-options-key-concessions-at-sombrero/" target="_blank" rel="noopener">Ivan Bebek, Chair and CEO of Coppernico, said in a company news release,</a> "We are pleased to have secured these strategic concessions prior to the commencement of drilling at our adjacent Tipicancha target, where we are currently in the process of seeking drilling permits." The company indicated that it intends to commence initial exploration activities on the Horizonte Concessions in the near term. The concessions are located approximately 2.5 kilometers south of the Tipicancha target, where historical exploration conducted between 2006 and 2007 included geological mapping, surface sampling, and three reverse-circulation drill holes. These historical programs identified advanced argillic alteration, gold-bearing structures, and geochemical anomalies over an area of approximately 800 meters by 500 meters. Tim Kingsley, VP Exploration of Coppernico Metals, stated in a company news release, "These independent observations and datasets help validate the structural framework and alteration zonation we are defining and reinforce the scale and exploration potential of the broader Tipicancha target." <h2 style="text-align: center;" data-start="230" data-end="360">Copper Markets Reflect Mixed Macro Signals as Structural Demand Holds</h2> According to an April 7 report from Bloomberg, Goldman Sachs Group Inc. noted that copper prices had faced pressure amid broader macroeconomic uncertainty tied to geopolitical developments. The report stated that "most base metals have come under growing pressure in the past month, as soaring oil and gas prices threaten to stifle economic growth and erode demand for industrial commodities." Analysts also noted that "the copper price is not being supported at the current level by fundamentals." <a href="https://www.investing.com/news/commodities-news/goldman-cuts-copper-forecast-on-soft-demand-warns-of-potential-price-declines-4599698" target="_blank" rel="noopener">Investing.com reported on April 7 that Goldman Sachs revised its outlook for copper</a>, lowering its 2026 average price forecast to US$12,650 per tonne from US$12,850 and increasing its estimate for a global surplus to 490,000 tonnes. However, analysts stated that "this is a smaller demand revision than aluminium because of the increasingly strategic and structural nature of copper demand, making it less sensitive to global economic cycles." <a href="https://nationaltoday.com/us/wa/seattle/news/2026/04/08/copper-prices-face-downside-risk-amid-middle-east-conflict/" target="_blank" rel="noopener">An April 8 article from Seattle Today noted that geopolitical developments could continue to influence pricing</a>, with analysts citing potential supply chain disruptions tied to tensions in the Middle East. <h2 style="text-align: center;" data-start="0" data-end="66">Analyst Points to Large-Scale Copper Potential Across District</h2> In a September 4 research update, 3L Capital analyst Steven Therrien examined exploration results from the Sombrero district, identifying the Nioc target area as a key focus within a wider copper skarn system. Based on historical drilling at Fierrazo alongside more recent exploration at Nioc and Ccascabamba, he described the mineralization as part of an extensive, connected copper system. Therrien stated that "interpreted skarn systems at Nioc's Zones 1 and 2 could represent a system measured in the hundreds of millions of tonnes" if portions of the modeled skarn bodies are confirmed to host mineralization at depth. He also noted that several high-priority targets within the district had yet to be tested with modern drilling methods. <h2 style="text-align: center;" data-start="2619" data-end="2677">Advancing Exploration Programs and Project Development</h2> The company stated that it is in the process of seeking drilling permits for the adjacent Tipicancha target and plans to advance exploration activities on the Horizonte Concessions, including geophysical surveys and drilling, as outlined in the option agreement. <a href="https://coppernicometals.com/investors/presentations/" target="_blank" rel="noopener">According to the investor presentation, </a>Coppernico has filed a semi-detailed environmental impact assessment to expand its permitted drill footprint at the Sombrero Project. The proposed permit area is expected to increase to approximately 3,024 hectares from 904 hectares, with drill platforms increasing from 38 to 181 pads, subject to approval. The permit is currently in place allows up to 49 drill holes from 38 drill pads at the Ccascabamba target area. The company is advancing expanded drill permits toward approval and continuing surface exploration,geochemistry, and drill planning to progress targets toward drill-ready status. [OWNERSHIP_CHART-11082] Additionally, the Company reported that it is strengthening community partnerships through ongoing engagement and additional agreements and is evaluating assets in complementary jurisdictions as part of its broader project pipeline development. <div class="z-0 flex min-h-[46px] justify-start"> </div> <div class="mt-3 w-full empty:hidden"> <div class="text-center"> <h2 style="text-align: center;">Ownership and Share Structure1</h2> Coppernico Metals is owned by strategic investors, including Teck Resources Ltd. (TECK:TSX; TECK:NYSE) with 9.9% and Newmont Corp. (NEM:NYSE; NGT:TSX; NEM:ASX) with approximately 5.6%. Overall, the ownership of Coppernico is 18.37% by institutions, 15.54% strategic entities, 5.13% management and insiders, and the rest, 60.96%, is retail. Coppernico has 177.3 million outstanding shares and its market cap is CA$63 million. Its 52-week range is CA$0.12–CA$0.56 per share. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a> </div> </div> <div class="pointer-events-none h-px w-px absolute bottom-0" aria-hidden="true" data-edge="true"> </div>Important Disclosures:<ol> <li>Coppernico Metals Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.</li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Coppernico Metals Inc.</li> <li>James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.</li> <li>This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting" target="_blank" rel="noopener">here.</a> 1. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30924"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30924" width="0" height="0"> ( Companies Mentioned: COPR:TSX; CPPMF:OTCQB;9l3:FSE, ) COPR:TSX; CPPMF:OTCQB;9l3:FSE Tue, 14 Apr 2026 00:00:00 PST Biotech Firm Advances Voice-Based Intoxication Tech Aiming to Revolutionize Medical Diagnostics https://www.streetwisereports.com/article/2026/04/13/biotech-firm-advances-voice-based-intoxication-tech-aiming-to-revolutionize-medical-diagnostics.html Source: <a href="https://www.streetwisereports.com/article/2026/04/13/biotech-firm-advances-voice-based-intoxication-tech-aiming-to-revolutionize-medical-diagnostics.html?utm_medium=feed">Streetwise Reports 04/13/2026</a> MindBio Therapeutics Corp.'s (MBIO:CSE; MBQIF:OTCQB; WF6:Frankfurt) AI voice model analyzes 140+ biomarkers, targeting non-invasive impairment screening.<a href="https://www.streetwisereports.com/pub/co/11539?utm_medium=feed" target="_blank" rel="noopener">MindBio Therapeutics Corp. (MBIO:CSE; MBQIF:OTCQB; WF6:Frankfurt)</a> <a href="https://mindbiotherapeutics.com/NewsMedia" target="_blank" rel="noopener">announced the completion of its new proprietary technology</a>, Intox CollectTM, a software that has enhanced the company's ability to detect and analyze the human central nervous system for a range of stimulants and depressants. On April 12, 2026, MindBio released a statement, saying,"In a world first, MindBio has developed an AI model that uses over 50 million data points (with that number expected to triple in the coming months) to predict drug and alcohol intoxication with remarkable accuracy, just by using the human voice. The completion of the company's new Intox CollectTM software allows the company to expand its prediction technology to a range of substances that affect the central nervous system, which, when consumed, impair cognition and human performance." MindBio CEO Justin Hanka said about the news release, "The digital health diagnostics market represents a significant opportunity for MindBio to leverage its diagnostics technology with a first mover advantage in speech analytics for drug and alcohol intoxication detection. Our technology gives us a significant advantage in using voice to develop non-invasive health diagnostic tools." MindBio Therapeutics Corp. is a Canadian biotech company intent on leveraging AI technology to analyze the human voice and detect impairment due to alcohol or illicit substances. Through the development of personal-use smartphone apps and mass-use corporate kiosks, MindBio is developing software that could help reduce accidents due to intoxication. The proprietary technology analyzes up to 140 vocal markers, focusing on parameters like spectral entropy, jitter, and shimmer, and speech rate variability. <a href="https://mindbiotherapeutics.com/About" target="_blank" rel="noopener">The company describes </a>its vision as developing ". . . A world where voice-based biomarkers are a standard component of healthcare—enabling continuous, passive health monitoring that catches problems early and improves outcomes for everyone, everywhere." Currently, MindBio is creating inroads into the mining, aviation, construction, and law enforcement industries. <h2 style="text-align: center;">Addiction and Abuse in the Mining Sector</h2> <a href="https://mindbiotherapeutics.com/Investors" target="_blank" rel="noopener">MindBio recently stated</a> that screening for drug and alcohol intoxication at scale can prevent unnecessary harm through the detection of physiological decline. The company offered statistics that estimate a 10-20x increase in suicide risk while heavily intoxicated. It also claims that 40-50% of suicides involve alcohol, noting that the global alcohol harm cost sits at around US$1.6 trillion. The risk of addiction and drug or alcohol abuse rises due to many factors, like parental monitoring, peer pressure, socioeconomic status, type of substance, stress, drug availability, and occupation, according to the <a href="https://americanaddictioncenters.org/workforce-addiction/blue-collar/miners" target="_blank" rel="noopener">American Addiction Centers</a>. They cite the mining industry as "particularly conducive to substance abuse," due to job stress, physical demand, and injuries from prolonged work. The entire biotech sector has shown exponential growth recently. "The global biotechnology market size was estimated at US$1.55 trillion in 2023 and is projected to reach US$3.88 trillion by 2030, growing at a CAGR of 13.96% from 2024 to 2030," <a href="https://www.grandviewresearch.com/industry-analysis/biotechnology-market" target="_blank" rel="noopener">said Grandview Research</a>. In September 2025, <a href="https://www.marketsandmarkets.com/Market-Reports/ai-detector-market-199981626.html" target="_blank" rel="noopener">Market and Market Analysis considered</a> the AI detector market as "undergoing rapid expansion, with estimates projecting a substantial market value surge from approximately US$0.58 billion in 2025 to US$2.06 billion in 2030." <h2 style="text-align: center;">MindBio is Catching Analysts' Attention</h2> On February 3, 2026, <a href="https://www.canadianminingjournal.com/news/mindbios-voice-tech-promises-safer-shafts/" target="_blank" rel="noopener">The Canadian Mining Journal reported</a> that, "Studies in Chile reveal that alcohol consumption among mining workers exceeds 75%, with over 40% classified as problem drinkers." The article noted the potential efficacy of MindBio's kiosks in accident prevention, saying, "A single preventable incident can cost a mining company hundreds of millions in lost production, union boycotts, and insurance and medical expenses." <a href="https://techcouver.com/2026/01/26/ai-app-mindbio-therapeutics-detect-alcohol-intoxication-voice/" target="_blank" rel="noopener">Knowlton Thomas, for Techcouver,</a> wrote on January 26, 2026, that ". . . Leveraging more than 50 million data points from drug and alcohol clinical trials and proprietary algorithms across over 100 acoustic parameters, MindBio is now commercializing its technology." 1Most recently, <a href="https://www.streetwisereports.com/article/2026/04/01/the-worlds-first-ai-voice-detection-for-drugs-alcohol-with-charts-that-beckon-investors-to-buy.html?utm_medium=feed" target="_blank" rel="noopener">Stewart Thomson gave Streetwise Reports a contributed technical analyst opinion</a> about MindBio on April 1, 2026. Thomson rated MindBio as a 'Strong Speculative Buy', with a short-term price target of CA$1.70, a medium-term price target of CA$3.00, and a long-term price target of CA$6.00. [OWNERSHIP_CHART-11539] <h2 style="text-align: center;">Building Relationships Across Industries</h2> <a href="https://mindbiotherapeutics.com/Investors" target="_blank" rel="noopener">According to the company's latest presentation</a>, MindBio intends to deploy its Edge AI voice drug and alcohol detection kiosks in June 2026, hoping to test at a large scale in zero-tolerance industries. The company is already partnering with mines in South America and is in talks with other industries. While enterprise and telehealth capacities are in development right now, future plans include disease prediction and health optimization. <h2 style="text-align: center;">Ownership & Share Information2</h2> MindBio Therapeutics Corp. has a market cap of CA$7.9 million, with 7.28 million shares outstanding. The company's 52-week trading range is CA$0.50-CA$8.00. Management and Insiders own approximately 5.80% of MindBio Therapeutics shares, with Retail investors holding the remaining 94.20%. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a> Important Disclosures:<ol> <li>MindBio Therapeutics Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.</li> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of MindBio Therapeutics Inc.</li> <li>Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. </li> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> <li>This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.</li> </ol> 1. Disclosure for the quote from the Stewart Thomson article published on April 1, 2026 <ol start="1" type="1"> <li>For the quoted article April 1, 2026, MindBio Therapeutics Corp. has paid Street Smart, an affiliate of Streetwise Reports, US$3,500.</li> <li>Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts. The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.</li> </ol> 2. Ownership and Share Structure Information The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30953"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30953" width="0" height="0"> ( Companies Mentioned: MBIO:CSE; MBQIF:OTCQB; WF6:Frankfurt, ) MBIO:CSE; MBQIF:OTCQB; WF6:Frankfurt Mon, 13 Apr 2026 00:00:00 PST Defense Stocks Ready for a Record-Breaking Rebound https://www.streetwisereports.com/article/2026/04/13/defense-stocks-ready-for-a-record-breaking-rebound.html Source: <a href="https://www.streetwisereports.com/article/2026/04/13/defense-stocks-ready-for-a-record-breaking-rebound.html?utm_medium=feed">Jason Simpkins 04/13/2026</a> Jason Simpkins of Wealth Daily shares the stocks that are poised for a rebound in this defense-driven market.In recent days, it came to light that Defense Secretary Pete Hegseth's investment advisor hurriedly acquired stock in arms manufacturers mere moments before the United States initiated combat operations against Iran. Well, if that indeed transpired, he surely didn't strike it rich. The financial instrument under scrutiny — the iShares Defense Industrials Active ETF (IDEF:NASDAQ) — plummeted slightly more than 14% over the course of March. This downward trend corresponded to a broader decline across the defense sector. The iShares Aerospace and Defense ETF (ITA:BATS) plunged 16%, while the Global X Defense Tech ETF (SHLD:NYSEARCA) dropped 12%. All the behemoths of the industry, from Lockheed Martin Corp. (LMT:NYSE) to Rtx Corp. (RTX:NYSE) to General Dynamics Corp. (GD:NYSE), also experienced declines. Meanwhile, the smaller, technology-oriented contractors plummeted even more dramatically. This isn't quite the reaction one would anticipate in response to the eruption of a significant global confrontation. Especially considering that military budgets around the globe have been skyrocketing to unprecedented levels. So what's the explanation? Honestly? Absolutely nothing. A market downturn of this magnitude shows no mercy. The armed conflict with Iran has ushered in such an immense degree of unpredictability and such a multitude of negative repercussions that the market is unloading assets indiscriminately and on a massive scale. Here is the text rewritten with new words while maintaining the original length: Investors are minimizing their exposure, securing their gains, closing out their derivatives positions, and amassing liquidity. And in numerous instances, they are jettisoning their top-performing holdings. This encompasses technology companies, artificial intelligence investments, raw materials, precious metals… And, as you might have surmised, military contractors. Those investment vehicles I alluded to earlier? SHLD surged 52% in the previous year, while ITA climbed 78%. Individual arms manufacturers such as Lockheed Martin also experienced growth, including a 33% increase for GD and a 62% rise for RTX. L3Harris Technologies Inc. (LHX:NYSE) leaped 45%. And Kratos Defense & Security Solutions Inc. (KTOS:NASDAQ) skyrocketed nearly 200%. Similar returns could be discovered throughout the defense industry. And now that the market is under duress, they're retreating. But here's the crux of the matter… They're poised for a resurgence. In the short term, conflicts are escalating across the globe. And in the longer term, military budgets are ballooning as nations respond to a new age of warfare. President Trump recently submitted a colossal defense spending proposal for the upcoming fiscal year. Europe is reassessing its entire defensive stance as Russia encroaches and America withdraws. And smaller, traditionally amicable Asian nations are steeling themselves as China's belligerence intensifies. So if you're currently holding defense contractors, stay the course. They'll rebound. And if you haven't acquired any lately, now is the opportune moment to hunt for bargains. I'd suggest commencing here with an under-the-radar defense tech vendor that's positioned to assume a disproportionately significant role in President Trump's signature defense initiative — the Golden Dome. But truthfully, in this market, you can't err by investing in defense at present. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li>As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of Lockheed Martin.</li> <li>Jason Simpkins: I, or members of my immediate household or family, own securities of: None. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.</li> <li>Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. </li> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a><img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30950"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30950" width="0" height="0"> Mon, 13 Apr 2026 00:00:00 PST MA Biotech Co. Downgraded to Sell After Second FDA CRL for RP-1 Melanoma BLA https://www.streetwisereports.com/article/2026/04/13/ma-biotech-co-downgraded-to-sell-after-second-fda-crl-for-rp-1-melanoma-bla.html Source: <a href="https://www.streetwisereports.com/article/2026/04/13/ma-biotech-co-downgraded-to-sell-after-second-fda-crl-for-rp-1-melanoma-bla.html?utm_medium=feed">Robert Burns 04/13/2026</a> H.C. Wainwright downgraded Replimune Group (REPL:NASDAQ) to Sell after the FDA issued a second Complete Response Letter for the RP-1 plus Opdivo BLA in anti-PD1 failed melanoma.Published April 13, 2026, H.C. Wainwright & Co. analysts Robert Burns and Raghuram Selvaraju, Ph.D. downgraded Replimune Group Inc. (REPL:NASDAQ) to Sell from Buy and removed their price target, citing a second FDA Complete Response Letter (CRL) for the company's lead asset RP-1 that has materially extended — and potentially eliminated — the drug's path to market. Late last week, Replimune announced that the FDA issued a second CRL in response to the company's resubmitted Biologics License Application (BLA) for RP-1 combined with Opdivo (nivolumab) in anti-PD1 failed melanoma patients. The development caught the market off guard, as the FDA had previously characterized the BLA resubmission as a comprehensive response to the first CRL issued in July 2025. The second CRL cited three principal concerns: the inability to isolate RP-1's individual contribution when administered in combination with nivolumab; heterogeneity in the patient population that prevented adequate interpretation of results; and the absence of a well-established historical control limiting response rate comparisons. The analysts expressed concern that the issues raised — particularly the inability to isolate RP-1's contribution — will likely extend to the ongoing Phase 3 IGNYTE-3 trial evaluating RP-1 plus Opdivo versus the physician's treatment choice, meaning that the trial may ultimately face the same regulatory obstacles. The analysts stated that it "may take until late in this decade" to furnish the agency with the data it appears to be demanding, and cautioned that "there can be no assurance that Replimune would be able to accomplish this." With no product revenue projected through at least fiscal year 2027, Replimune continues to operate as a pre-commercial entity. The company reported a net loss of US$247.3 million for fiscal year 2025 and is projected to widen its loss to approximately US$307.7 million in fiscal year 2026, before improving modestly to approximately US$250.3 million in fiscal year 2027. Research and development expenses are expected to remain the dominant cost driver, projected at approximately US$219.3 million in fiscal year 2026 and US$187.2 million in fiscal year 2027. On the balance sheet, Replimune held approximately US$269.1 million in cash against US$46.0 million in total debt as of the report date, providing some near-term runway but a limited cushion given the extended development timeline now anticipated. The analysts withdrew their prior discounted cash flow (DCF)-based valuation, which had incorporated an 85% probability of approval for RP-1, a 12% discount rate, and a 29% effective tax rate. With the price target removed entirely, the firm cited the substantive likelihood that "the FDA remains antipathic to Replimune's attempts to secure RP1 approval" as the basis for suspending formal valuation. REPL shares were trading at US$4.76 at the time of the report, well below the 52-week high of US$13.24, with a 52-week low of US$2.68. Upside risks identified by the analysts include the possibility of an unexpectedly short timeline for resubmission, FDA willingness to accept incremental clinical data in support of approval, a near-term positive regulatory decision, and favorable data from Replimune's early-stage pipeline of oncolytic virus (OV) candidates. <a href="https://www.streetwisereports.com/get-news?utm_medium=feed"> Sign up for our FREE newsletter at: www.streetwisereports.com/get-news</a>Important Disclosures:<ol> <li> This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. </li> <li>This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.</li> </ol> For additional disclosures, please click <a href="https://www.streetwisereports.com/disclaimer/?utm_medium=feed#consulting">here.</a> Disclosures for H.C. Wainwright & Co., Replimune Group Inc., April 13, 2026 This material is confidential and intended for use by Institutional Accounts as defined in FINRA Rule 4512(c). It may also be privileged or otherwise protected by work product immunity or other legal rules. If you have received it by mistake, please let us know by e-mail reply to unsubscribe@hcwresearch.com and delete it from your system; you may not copy this message or disclose its contents to anyone. The integrity and security of this message cannot be guaranteed on the Internet. H.C. WAINWRIGHT & CO, LLC RATING SYSTEM: H.C. Wainwright employs a three tier rating system for evaluating both the potential return and risk associated with owning common equity shares of rated firms. The expected return of any given equity is measured on a RELATIVE basis of other companies in the same sector. The price objective is calculated to estimate the potential movements in price that a given equity could reach provided certain targets are met over a defined time horizon. Price objectives are subject to external factors including industry events and market volatility. RETURN ASSESSMENT Market Outperform (Buy): The common stock of the company is expected to outperform a passive index comprised of all the common stock of companies within the same sector. Market Perform (Neutral): The common stock of the company is expected to mimic the performance of a passive index comprised of all the common stock of companies within the same sector. Market Underperform (Sell): The common stock of the company is expected to underperform a passive index comprised of all the common stock of companies within the same sector. Rating and Price Target History for: Replimune Group, Inc. (REPL-US) as of 04-10-2026 25 20 15 10 5 0 Q1 Q2 Q3 2024 Q1 Q2 Q3 2025 Q1 Q2 Q3 2026 Q1 Q2 BUY:$50.00 02/10/23 BUY:$51.00 06/05/23 BUY:$50.00 08/07/23 BUY:$48.00 11/13/23 BUY:$10.00 12/08/23 BUY:$12.00 02/15/24 BUY:$17.00 06/07/24 BUY:$21.00 01/22/25 BUY:$22.00 02/13/25 NEUTRAL:NA 07/23/25 BUY:$12.00 10/27/25 Investment Banking Services include, but are not limited to, acting as a manager/co-manager in the underwriting or placement of securities, acting as financial advisor, and/or providing corporate finance or capital markets-related services to a company or one of its affiliates or subsidiaries within the past 12 months. Distribution of Ratings Table as of April 10, 2026 IB Service/Past 12 Months Ratings Count Percent Count Percent Buy 555 83.08% 159 28.65% Neutral 62 9.28% 10 16.13% Sell 1 0.15% 0 0.00% Under Review 50 7.49% 15 30.00% H.C. Wainwright & Co, LLC (the “Firm”) is a member of FINRA and SIPC and a registered U.S. Broker-Dealer. I, Robert Burns and Raghuram Selvaraju, Ph.D. , certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies. None of the research analysts or the research analyst’s household has a financial interest in the securities of Replimune Group, Inc. (including, without limitation, any option, right, warrant, future, long or short position). As of March 31, 2026 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Replimune Group, Inc.. Neither the research analyst nor the Firm knows or has reason to know of any other material conflict of interest at the time of publication of this research report. The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services. The Firm or its affiliates did not receive compensation from Replimune Group, Inc. for investment banking services within twelve months before, but will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report. The Firm does not make a market in Replimune Group, Inc. as of the date of this research report. The securities of the company discussed in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is no guarantee of future results. This report is offered for informational purposes only, and does not constitute an offer or solicitation to buy or sell any securities discussed herein in any jurisdiction where such would be prohibited. This research report is not intended to provide tax advice or to be used to provide tax advice to any person. Electronic versions of H.C. Wainwright & Co., LLC research reports are made available to all clients simultaneously. No part of this report may be reproduced in any form without the expressed permission of H.C. Wainwright & Co., LLC. Additional information available upon request. H.C. Wainwright & Co., LLC does not provide individually tailored investment advice in research reports. This research report is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person. Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment strategies discussed or recommended in this research report. H.C. Wainwright & Co., LLC’s and its affiliates’ salespeople, traders, and other professionals may provide oral or written market commentary or trading strategies that reflect opinions that are contrary to the opinions expressed in this research report. H.C. Wainwright & Co., LLC and its affiliates, officers, directors, and employees, excluding its analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives (including options and warrants) thereof of covered companies referred to in this research report. The information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data on the company, industry or security discussed in the report. All opinions and estimates included in this report constitute the analyst’s judgment as of the date of this report and are subject to change without notice. Securities and other financial instruments discussed in this research report: may lose value; are not insured by the Federal Deposit Insurance Corporation; and are subject to investment risks, including possible loss of the principal amount invested.<img src="https://www.google-analytics.com/collect?v=1&tid=UA-2133444-8&cid=555&t=event&ec=newsfeed&ea=open&dp=30949"><img src="https://www.streetwisereports.com/images/news_articles/t_chart.pl?na=30949" width="0" height="0"> ( Companies Mentioned: REPL:NASDAQ, ) Mon, 13 Apr 2026 00:00:00 PST