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Highlights:

South32 and Teck will maintain their equity ownership in American Eagle Gold.

Including Eric Sprott's private placement, American Eagle Gold's cash balance will increase by $34 million to more than $55 million upon close of this financing.

Eric Sprott, South32 and Teck are the sole participants in this financing.

The average price per FT Share is C$1.18.

American Eagle Gold will spend at least $34 million on drilling and exploration through the end of 2027.
Due to unseasonably mild regional weather, the Company expects to begin the 2026 drilling campaign earlier than previously planned.

The drilling and exploration program will be released to investors shortly.

Toronto, Ontario–(Newsfile Corp. – March 11, 2026) – American Eagle Gold Corp. (TSXV: AE) (OTCQB: AMEGF) ("American Eagle" or the "Company") is pleased to announce that existing shareholders, a wholly-owned subsidiary of South32 Ltd ("South32") and Teck Resources Limited ("Teck"), have each elected to participate in the Company's previously announced non-brokered private placement.

The Company previously announced on February 27, 2026 a financing for aggregate gross proceeds up to C$34,540,000, consisting of approximately: (i) up to 19,200,000 common shares to be issued on a premium flow-through basis (each, a "FT Share") at a price of C$1.20 per FT Share for proceeds of C$23,040,000 (the "Sprott Offering"); and (ii) up to 14,935,065 common shares at a price of C$0.77 per share for proceeds of up to C$11,500,000 (the "Concurrent Offering").

The terms of the Concurrent Offering have been updated to be 9,650,550 FT Shares at a price of C$1.1319 per FT Share for gross proceeds of C$10,923,458 (hereafter, the "Concurrent Offering" and together with the Sprott Offering, the "Offering"). The aggregate gross proceeds from the Offering are now expected to be C$33,963,458.

Teck has agreed to maintain its 12.9% interest in the Company, through the acquisition of 3,797,058 common shares underlying the Concurrent Offering at a back-end price of $0.77 per share, and South32 has agreed to maintain its 19.9% interest in the Company, through the acquisition of 5,853,492 common shares underlying the Concurrent Offering at a back-end price of $0.77 per share.

"We are ecstatic that both South32 and Teck will maintain their ownership stakes in American Eagle Gold. Having two major miners continue to invest in us is a strong vote of confidence in our Company and the NAK project. With over $55 million in the treasury after closing, we will have one of the strongest balance sheets in the junior mining industry, allowing us to deploy the proper resources to continue unlocking shareholder value. Our plan is to execute the largest drill program ever undertaken in the region, with rigs operating continuously well into the spring of 2027. Our goal for 2026 is to prove that NAK can be a mine in this current metals cycle and demonstrate why it should be considered as one of the best undeveloped copper-gold porphyry projects in the country. We very much look forward to unveiling our plan for all investors to see in the not-so-distant future and putting this new influx of cash to immediate use," said Anthony Moreau, CEO, American Eagle.

As previously announced, Eric Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned and controlled by him, has agreed to acquire an approximate 9.5% equity interest in the Company (assuming the maximum Offering amount), through the purchase of 19,200,000 common shares underlying the Sprott Offering at a back-end price of $0.77 per share. The investment represents C$23,040,000 of the Sprott Offering gross proceeds.

American Eagle will use the proceeds from the Offering to thoroughly test its thesis at NAK and build on the successes of its 2024 and 2025 drill programs, which expanded NAK's scale and identified additional high-grade zones.

The FT Shares will qualify as "flow-through shares" within the meaning of the Income Tax Act (Canada) (the "Tax Act"). An amount equal to the gross proceeds from the issuance of the FT Shares will be used to incur, on the Company's Canadian mineral exploration properties, eligible resource exploration expenses that will qualify as (i) "Canadian exploration expenses" (as defined in the Tax Act), (ii) "flow-through critical mineral mining expenditures" (as defined in subsection 127(9) of the Tax Act), and (iii) "BC flow-through mining expenditures" for purchasers in British Columbia (collectively, the "Qualifying Expenditures"). The Qualifying Expenditures, in an aggregate amount not less than the gross proceeds raised from the issuance of the FT Shares, will be incurred on or before December 31, 2027 and will be renounced by the Company to the initial purchasers of the FT Shares with an effective date no later than December 31, 2026. In the event that the Company is unable to renounce the full issue price of the FT Shares on or prior to December 31, 2026 and/or if the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each initial purchaser for the additional taxes payable by such subscriber to the extent permitted by the Tax Act as a result of the Company's failure to renounce the Qualifying Expenditures as agreed.

Upon closing this Offering (assuming both the Sprott Offering and Concurrent Offering are completed), American Eagle will have over C$55 million in cash on its balance sheet, and the Company will be fully funded for substantial drill program expansions in 2026 and 2027.

No warrants are included in the Offering. The Company will pay a commission or finder's fee of up to 1% in connection with the Offering. Closing of the Offering is expected to occur on, or about, March 20, 2026 (the "Closing Date"), subject to satisfaction of the closing conditions for the benefit of the parties, the receipt of all necessary regulatory approvals and acceptance of the TSX Venture Exchange. The FT Shares and underlying common shares will be subject to a statutory hold period of four months plus a day following the Closing Date.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent registration under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements.

About American Eagle's NAK Project

The NAK Project lies within the Babine copper-gold porphyry district of central British Columbia. It has excellent infrastructure through all-season roads and is close to the towns of Smithers, Houston, and Burns Lake, B.C., which lie along a major rail line and Provincial Highway 16. Historical drilling and geophysical, geological, and geochemical work at NAK, which began in the 1960's, tested only to shallow depths. Still, the work revealed a very large near-surface copper-gold system that measures over 1.5 km x 1.5 km. Drilling completed by American Eagle in 2022, 2023, and 2024 returned significant intervals of high-grade copper-gold mineralization that reached beyond and much deeper than the historical drilling, indicating that zones of near-surface and deeper mineralization, locally with considerably higher grades, exist within the broader NAK property mineralizing system. American Eagle Gold completed an aggressive 31,500 metre drill program in 2025 designed to expand and improve the mineral footprint.

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About American Eagle Gold Corp.

American Eagle is focused on exploring its NAK copper-gold porphyry project in west-central British Columbia, Canada.

American Eagle Gold CorpToronto, Ontario

Anthony Moreau, Chief Executive Officer416.644.1567amoreau@oregroup.ca www.americaneaglegold.ca

Q.P. Statement

Mark Bradley, B.Sc., M.Sc., P.Geo., a Certified Professional Geologist and 'qualified person' for the purposes of Canada's National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified and approved the information contained in this news release.

Forward-Looking Statements

Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding whether the Company will be able to complete the Offering as anticipated, the receipt of regulatory approval, including the approval of the TSX Venture Exchange, to complete the Offering, the intended use of proceeds and intended drill program or its anticipated results at the Company's NAK project, the ability of the Company to make the qualifying expenditures as anticipated by management, the expected Closing Date, and other matters ancillary or incidental to the foregoing. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Therefore, actual results might differ materially from those suggested in forward-looking statements. The Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the Company with Canadian securities regulators, which filings are available under the American Eagle Gold Corp. profile at www.sedarplus.ca.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288076

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BHP Group (ASX:BHP) has sold 100% of its San Manuel property in Arizona to Faraday Copper Corp, while retaining a 30% equity stake and related shareholder rights.
The San Manuel sale supports plans to build a copper hub in the US around the project.
BHP has entered a long term silver streaming agreement with Wheaton Precious Metals, linked to silver production from the Antamina mine.
China Mineral Resources Group has placed new restrictions on BHP iron ore cargoes as contract negotiations and disputes continue.

For a miner of BHP’s scale, copper, silver and iron ore sit at the core of its business mix, and these moves touch each of those areas at once. The US copper hub concept and the Antamina silver stream change how ASX:BHP is exposed to future production and price risk across two key metals. At the same time, tighter conditions from China Mineral Resources Group introduce extra uncertainty around its long standing iron ore trade into China.

If you are following ASX:BHP, this cluster of deals and contract tensions is worth tracking together rather than in isolation. The combination of portfolio changes, new streaming income and evolving iron ore terms in China could influence how the company balances cash flow sources, capital allocation and regional exposure over time.

Stay updated on the most important news stories for BHP Group by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on BHP Group.

ASX:BHP Earnings & Revenue Growth as at Mar 2026

3 things going right for BHP Group that this headline doesn’t cover.

Quick Assessment

⚖️ Price vs Analyst Target: At A$50.10, BHP Group trades about 4% below the A$52.34 analyst price target, which is within the typical 10% band.
❌ Simply Wall St Valuation: Shares are described as trading at roughly 28.2% above estimated fair value, which points to a premium price.
✅ Recent Momentum: The 30 day return of about 2.7% suggests the share price has been edging higher recently.

There is only one way to know the right time to buy, sell or hold BHP Group. Head to Simply Wall St’s
company report for the latest analysis of BHP Group’s Fair Value..

Key Considerations

📊 The San Manuel sale and Antamina silver stream shift some exposure toward US copper and long term silver linked cash flows, while China iron ore restrictions could pull in the opposite direction.
📊 Watch how management describes the US copper hub plans, Antamina throughput, and any updates on contract terms or volumes with China Mineral Resources Group.
⚠️ With one flagged risk around an unstable dividend track record, any pressure on iron ore cash flows from China could matter for investors focused on income.

Dig Deeper

For the full picture, including more risks and rewards, check out the
complete BHP Group analysis. Alternatively, you can visit the
community page for BHP Group to see how other investors believe this latest news will impact the company’s narrative.

This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include BHP.AX.

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VANCOUVER, BC, March 9, 2026 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") is pleased to announce that the Company has entered into purchase agreements to acquire an additional 5% interest in the issued and outstanding equity of SCM Minera Lumina Copper Chile ("Lumina Copper"), which owns the Caserones copper-molybdenum mine ("Caserones'") located in Chile, as well as a 30.9% interest in the Los Helados Project and a 0.62% net smelter return royalty ("NSR") on Los Helados from JX Advanced Metals Corporation and affiliates (collectively, "JX") for total consideration of US$215 million (collectively, the "Transaction").

Jack Lundin, President and CEO, commented "Securing an additional 5% ownership in Caserones and acquiring 31% of the Los Helados Project marks another significant step in strengthening Lundin Mining's copper-dominant portfolio in the emerging Vicuña District. This investment increases our attributable production profile at an attractive acquisition price and demonstrates our ongoing commitment to disciplined, scalable growth in high-quality assets. Through our consistent strategy, together with our partners in the region, we will continue to enhance operational performance to drive stronger financial returns while advancing growth opportunities to sustain long-term value creation."

Highlights:

Strengthens Lundin Mining's copper production profile: Increases 2026 attributable copper production by 6,500 to 7,000 tonnes. Caserones' production guidance for 2026 is 130,000 ‑ 140,000 tonnes of copper on a 100% basis and annual cash cost1 is forecast to be $2.05/lb – $2.25/lb of copper, after by-product credits.2
The additional Caserones interest will contribute immediate free cash flow: Attractive acquisition price that is accretive to attributable production and financial metrics.
Los Helados will add meaningful copper and gold Mineral Resources to Lundin Mining's metal inventory. Los Helados on a 100% basis contains:
- Indicated Mineral Resources: 8.3 Mt of copper, 10.2 Moz of gold and 97.5 Moz of silver (2.1 billion tonnes at 0.40% copper, 0.15 g/t gold and 1.5 g/t silver).
- Inferred Mineral Resources: 3.7 Mt copper, 3.6 Moz of gold and 50.2 Moz of silver (1.1 billion tonnes at 0.34% copper, 0.10 g/t gold and 1.4 g/t silver).
Provides additional growth optionality: Los Helados is approximately 17 km to the south from Lundin Mining's Caserones mine, located within the emerging Vicuña District. Possible synergies include scenarios to potentially truck or convey mineralization from Los Helados to Caserones, offsetting lower grade material with higher grade mineralization from Los Helados.

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1 These are non-GAAP measures. Please refer to the Company's discussion of non-GAPP and other performance measures in its Management's Discussion and Analysis for the year ended December 31, 2025 and the reconciliation of Non-GAAP measures section at the end of this news release.

2 Guidance as announced by news release "Lundin Mining Announces 2025 Production Results and 2026 Guidance" dated January 21, 2026.

Caserones Mine

Lundin Mining initially acquired a 51% interest in Caserones in 2023 and subsequently increased its ownership to 70% in 2024. Upon closing of the Transaction, Lundin Mining will increase its ownership interest to 75%. Caserones is in the Atacama Region (Region III) of Chile and is part of the emerging Vicuña copper district. The operation produces copper and molybdenum concentrates from a traditional open pit mine and conventional sulphide flotation plant, as well as copper cathode from a dump leach, solvent extraction and electrowinning plant. In 2025 Caserones produced 132,881 tonnes of copper at a cash cost of $2.17/lb.3

Los Helados Project

Los Helados is a large copper-gold deposit, located in Chile's Atacama Region, approximately 17 kilometres to the south from Lundin Mining's Caserones operation and approximately 10 kilometres to the north of the Vicuña Project. The deposit contains a high-grade breccia core with multiple mineralized zones, including the Condor, Fenix, and Alicanto zones. These zones represent higher-grade structural corridors within the broader mineralized system and provide potential opportunities to optimize mine development. A total of 96,448 metres of drilling has been completed on the project in 110 holes, a Mineral Resource estimate was updated in 2023 and highlighted a significant inventory of contained copper, gold and silver. NGEx Minerals Ltd. holds the remaining 69.1% ownership in the project and is the operator. On an attributable basis Los Helados will increase our measured and indicated copper Mineral Resources by 15% and gold Mineral Resources by 11%.4

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3 These are non-GAAP measures. Please refer to the Company's discussion of non-GAPP and other performance measures in its Management's Discussion and Analysis for the year ended December 31, 2025 and the reconciliation of Non-GAAP measures section at the end of this news release.

4 Refer to the Lundin Mining news release entitled "Lundin Mining Increases M&I Copper Mineral Resources by 37% and Updates Mineral Reserves" dated February 18, 2026 and the NGEX Metals Ltd. news release entitled "NGEx Announces Updated Mineral Resource Estimate at Los Helados Includng High-Grade Fenix and Alicanto Zones; Indicated Mineral Resources Exceed 2.0 Billion at 0.51% Copper Equivalent" dated December 5, 2023.

Los Helados Mineral Resource Estimate (100% basis)
Grade							Contained Metal
Site	Category	TonnesMt	Cu%	Aug/t	Agg/t	Cukt		AuMoz	AgMoz
Los Helados	Measured	–	–	–	–	–		–	–
	Indicated	2,080	0.40	0.15	1.5	8,360		10.2	97.5
	M&I	2,080	0.40	0.15	1.5	8,360		10.2	97.5
	Inferred	1,080	0.34	0.10	1.5	3,670		3.6	50.2

Mineral Resource Notes:
1.	Mineral Resource estimate prepared in accordance with CIM (2014) definitions.
2.	The Mineral Resource Estimate is reported with an effective date of October 31, 2023.
3.	Mineral Resources are estimated at a cut-off grade of 0.33 g/t CuEq based on an underground block cave mining cost of $8.00/t, a processing cost of $12.00/t, and a general & administrative cost of $1.00/t.
4.	Mineral Resources are estimated using a copper price of $3.90/lb, a gold price of $1,800/oz, and a silver price of $20/oz.
5.	Metallurgical recoveries used for the CuEq calculation correspond to three geometallurgical zones, defined by depth below surface:
	a.	Upper: Cu 83.1%, Au 72.8%, Ag 31.0%
	b.	Intermediate: Cu 90.2%, Au 80.3%, Ag 54.9%
	c.	Deep: Cu 93.1%, Au 82.5%, Ag 70.5%
6.	The formulas used for the CuEq calculation are:
	a.	Upper: CuEq % = Cu % + (0.681008 x Au (g/t)) + (0.002989 x Ag (g/t))
	b.	Intermediate: CuEq % = Cu % + (0.692039 x Au (g/t)) + (0.004877 x Ag (g/t))
	c.	Deep: CuEq % = Cu % + (0.688852 x Au (g/t)) + (0.006068 x Ag (g/t))
7.	Average Bulk density is 2.67 t/m3.
8.	Mineral Resource Estimates are reported within an optimized underground block cave mining shape to demonstrate reasonable prospects for eventual economic extraction (RPEEE). The block cave considered a column size of 20m x 20m x (≥ 80m).
9.	There are 40 Mt of unclassified material excluded from inside the base case block cave shape.
10.	Cut-off grades refer to diluted cut-off grades used to generate the corresponding block cave shapes. For each cut-off grade, the tonnes and grade represent the total Indicated or Inferred material within each of these shapes.
11.	Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
12.	The "Technical Report on the Los Helados and Lunahuasi Projects, Chile and Argentina" dated December 13, 2023 (effective date October 31, 2023), which incorporates the mineral resources statement for Los Helados is available on NGEx Minerals Ltd. website (www.ngexminerals.com) and SEDAR+.
13.	Numbers may not add due to rounding.

Transaction Overview

In connection with the Transaction, LMC Caserones SpA (the "Buyer"), an indirect wholly owned subsidiary of the Company, has entered into two agreements with JX:

Stock purchase agreement ("Stock Purchase Agreement") pursuant to which JX will sell to the Buyer shares of Lumina Copper representing 5% of the issued and outstanding equity interest of Lumina Copper.

Rights purchase agreement ("Rights Purchase Agreement" and together with the Stock Purchase Agreement, the "Purchase Agreements") pursuant to which JX will sell, transfer and assign to the Buyer all of its rights, title and interest in and to, among other things, a 30.9% interest in Los Helados and a 0.62% net smelter royalty on Los Helados.

The aggregate purchase price attributable to the Purchase Agreements is US$215 million payable upon closing of the Transaction and will be funded through the recently expanded revolving credit facility. Closing of the Transaction is cross conditional upon closing each of the Purchase Agreements and subject to customary conditions, including receipt of requisite regulatory approvals, no prohibitive injunctions and execution of ancillary agreements. The Transaction does not require shareholder approval of any of the parties.

The Transaction has been approved by the Board of Directors of both the Company and JX and is expected to close in April 2026.

About Lundin Mining

Lundin Mining is a Canadian mining company headquartered in Vancouver, Canada with three operating mines in Brazil and Chile. We produce commodities that support modern infrastructure and electrification. Our strategic vision is to become a top ten global copper producer. To get there, we are executing a clear growth strategy, which includes advancing one of the world's largest copper, gold, and silver projects in the Vicuña District on the border of Argentina and Chile, where we hold a 50% interest. Lundin Mining has a proven track record of value creation through resource growth, operational excellence, and responsible development. The Company's shares trade on the Toronto Stock Exchange (LUN) and Nasdaq Stockholm (LUMI). Learn more at www.lundinmining.com.

The information in this release is subject to the disclosure requirements of Lundin Mining under the Swedish Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact persons set out below on March 9, 2026 at 11:30 PM Pacific Time.

Technical Information

The Qualified Person responsible for the scientific and technical information contained herein and who has reviewed and approved such information in accordance with NI 43-101 is Eduardo Cortés, Registered Member (Comisión Calificadora de Competencias en Recursos y Reservas Mineras (Chilean Mining Commission)), Vice President, Mining & Resources at Lundin Mining, a "Qualified Person" under NI 43-101. Mr. Cortés has verified the scientific and technical information pertaining to the Los Helados Project by reviewing public disclosure of NGEx Minerals Ltd. pertaining to the project; however, he has not had access to any underlying data or other information beyond what is publicly disclosed by NGEx Minerals Ltd. Mr. Cortés has verified all other scientific and technical information disclosed in this document and no limitations were imposed on his verification process.

Reconciliation of Non-GAAP Measures

The Company uses certain performance measures in its analysis. These performance measures have no standardized meaning within generally accepted accounting principles under International Financial Reporting Standards and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. For additional details please refer to the Company's discussion of non-GAAP and other performance measures in its Management's Discussion and Analysis for the year ended December 31, 2025 which is available on SEDAR+ at www.sedarplus.com.

Cash Cost per Pound can be reconciled to Production costs on the Company's Consolidated Statements of Earnings as follows:

Year ended December 31, 2025
Continuing operations			Caserones
($ millions, unless otherwise noted)			(Cu)
Sales volumes (contained metal):
Tonnes			138,287
Pounds (000s)			304,870

Production costs			854.5
Less: Royalties and other			(52.4)
			802.1
Deduct: By-product credits1			(149.8)
Add: Treatment and refining charges			8.3
Cash cost			660.6
Cash cost per pound ($/lb)			2.17

1	By-product credits are presented net of the associated treatment and refining charges.

Cautionary Statement on Forward-Looking Information

Certain of the statements made and information contained herein are "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the Company's plans, prospects, business strategies and strategic vision and aspirations and their achievement and timing; the completion of the Transaction and timing thereof, the production profile of Caserones and economics resulting therefrom (including cash costs), the Mineral Resource estimate for Los Helados and the parameters and assumptions used to estimate the Mineral Resources; the potential synergies between Caserones and Los Helados; the Company's guidance on the timing and amount of future production and its expectations regarding the results of operations; expected financial performance; the Company's growth and optimization initiatives, and expectations for other economic, business, and/or competitive factors. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking information.

Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, the expectations and beliefs of management, including with respect to the Company's business, operations, strategies and growth and expansion plans; that no significant event will occur outside of the Company's normal course of business and operations (other than as set out herein); the satisfaction of all conditions and closing to the Transaction; the seamless integration of Los Helados into the Company's operations; assumed and future prices of copper, gold, silver and other metals; anticipated costs; commodity prices; currency exchange rates and interest rates; ability to achieve goals; the prompt and effective integration of acquisitions and the realization of synergies and economies of scale in connection therewith; that the political, economic, permitting and legal environment in which the Company operates will continue to support the development and operation of mining projects; timing and receipt of governmental, regulatory and third party approvals, consents, licenses and and their renewals; the geopolitical, economic, permitting and legal climate that the Company operates in; legal and regulatory requirements; positive relations with local groups; sanctioning, construction, development, commissioning and ramp-up timelines; access to sufficient infrastructure, equipment and labour; the accuracy of Mineral Resource and Mineral Reserve estimates and related information, analyses and interpretations; assumptions underlying life-of-mine plans; geotechnical and hydrogeological conditions; assumptions underlying economic analyses (including economic analysis of the Study); the Company's ability to comply with contractual and permitting or other regulatory requirements; operating conditions, capital and operating cost estimates; production and processing estimates; the results, costs and timing of future exploration activities; economic viability of the Company's operations and development projects; the Company's ability to satisfy the terms and conditions of its debt obligations; the adequacy of the Company's financial resources, and its ability to raise any necessary additional capital on reasonable terms; favourable equity and debt capital markets; stability in financial capital markets; the successful sanctioning, permitting and development of the Company's Projects (including the Vicuña Project) and commencement of production; successful completion of the Company's projects and initiatives (including the Vicuña Project) within budget and expected timelines; and such other assumptions as set out herein, in the Los Helados Technical Report, and in other applicable public disclosure documents of the Company, as well as those related to the factors set forth below. While these factors and assumptions are considered reasonable by Lundin Mining as at the date of this document in light of management's experience and perception of current conditions and expected developments, such information is inherently subject to significant business, social, economic, political, regulatory, competitive and other risks, uncertainties and contingencies that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking information. The Company cautions that the foregoing list of assumptions is not exhaustive. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking information and undue reliance should not be placed on such information. Such factors include, but are not limited to: dependence on international market prices and demand for the metals that the Company produces; political, economic, and regulatory uncertainty in operating jurisdictions, including but not limited to those related to permitting and approvals, nationalization or expropriation without fair compensation, environmental and tailings management, labour, trade relations, and transportation; uncertainty with respect to the fiscal, geopolitical, economic, permitting and legal climate that the Company operates in; risks relating to mine closure and reclamation obligations; health and safety hazards; inherent risks of mining, not all of which related risk events are insurable; geotechnical incidents; risks relating to the development, permitting, construction, commissioning and ramp-up of the Company's projects and operations; risks relating to tailings and waste management facilities; risks relating to the Company's indebtedness; risks relating to project financing; the Company's ability to access capital on acceptable terms if at all; risks related to the credit facility amendment commitments, including the Company's ability to satisfy conditions to access additional tranches; risks relating to dividend payments to shareholders in the future; challenges and conflicts that may arise in partnerships and joint operations, including risks relating to the Company's partnership with each of JX and NGEx and risks associated with joint venture governance, the ability to reach timely decisions on material matters affecting the Caserones or Los Helados Project, and the ability to fund cash calls when due; risks relating to development projects; risks that revenue may be significantly impacted in the event of any production stoppages or reputational damage in Chile, Brazil or Argentina; reputational risks related to negative publicity with respect to the Company, its joint venture partner or the mining industry in general; the impact of global financial conditions, market volatility and inflation; pricing and availability of key supplies, equipment, labour and services; business interruptions caused by critical infrastructure failures; challenges of effective water management; exposure to greater foreign exchange and capital controls, as well as political, social and economic risks as a result of the Company's operation in emerging markets; risks relating to stakeholder opposition to continued operation, further development, or new development of the Company's projects and mines; any breach or failure of information systems; risks relating to reliance on estimates of future production; risks relating to litigation and administrative proceedings which the Company may be subject to from time to time (including tax disputes); risks relating to acquisitions or business arrangements; risks relating to competition in the industry; failure to comply with existing or new laws or changes in laws; challenges or defects in title or termination of mining or exploitation concessions; the exclusive jurisdiction of foreign courts; the outbreak of infectious diseases or viruses; risks relating to taxation changes; receipt of and ability to maintain all permits that are required for operation; minor elements contained in concentrate products; changes in the relationship with its employees and contractors; the Company's Mineral Reserves and Mineral Resources which are estimates only; uncertainties relating to Inferred Mineral Resources being converted into Measured or Indicated Mineral Resources; compliance with environmental, health and safety laws and regulations, including changes to such laws or regulations; interests of significant shareholders of the Company; asset values being subject to impairment charges; potential for conflicts of interest and public association with other Lundin Group companies or entities; activist shareholders and proxy solicitation firms; risks associated with climate change; the Company's common shares being subject to dilution; ability to attract and retain highly skilled employees; reliance on key personnel and reporting and oversight systems; risks relating to the Company's internal controls; potential for the allegation of fraud and corruption involving the Company, its respective customers, suppliers or employees, or the allegation of improper or discriminatory employment practices, or human rights violations; counterparty and customer concentration risk; risks associated with the use of derivatives; exchange rate fluctuations; the terms of contingent payments in respect of the completion of the sale of the Company's European assets and expectations related thereto; and other risks and uncertainties, including but not limited to those described in the "Risk and Uncertainties" section of the Company's MD&A for the year ended December 31, 2025, and the "Risk and Uncertainties" section of the Company's latest Annual Information Form, which are available on SEDAR+ at www.sedarplus.ca under the Company's profile.

All of the forward-looking information in this document is qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecasted or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward‐looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2026/10/c2866.html

Lundin Mining (LUN.TO) late on Monday said it has agreed to acquire an additional 5% interest in the issued and outstanding equity of SCM Minera Lumina Copper Chile, which owns the Caserones copper-molybdenum mine in Chile, as well as a 30.9% stake in the Los Helados project and a 0.62% net smelter return royalty on Los Helados from JX Advanced Metals and affiliates for total consideration of US$215 million.

The deal is expected to increase Lundin's 2026 attributable copper production by 6,500 to 7,000 tonnes. Los Helados is expected to add meaningful copper and gold mineral resources to Lundin's metal inventory.

With Los Helados located about 17 kilometers to the south from Lundin's Caserones mine, the deal provides additional growth optionality such as potential trucking of mineralization from Los Helados to Caserones.

Lundin Mining initially acquired a 51% interest in Caserones in 2023 and increased its ownership to 70% in 2024. At deal closing, Lundin will boost its ownership interest to 75%.

The Caserones operation produces copper and molybdenum concentrates from a traditional open pit mine and conventional sulphide flotation plant, as well as copper cathode from a dump leach, solvent extraction and electrowinning plant.

Los Helados is a large copper-gold deposit in Chile's Atacama region. The deposit contains a high-grade breccia core with multiple mineralized zones, including the Condor, Fenix, and Alicanto zones, providing potential mine development optimization opportunities.

NGEx Minerals (NGEX.TO) holds the remaining 69.1% ownership in the project and is the operator. On an attributable basis, Los Helados will increase Lundin's measured and indicated copper mineral resources by 15% and gold mineral resources by 11%.

The transaction has been approved by the boards of both Lundin and JX and is expected to close in April.

Rio Tinto and BHP face iron ore inventory warning as prices recover from Chinese New Year lows Proactive uses images sourced from Shutterstock

UBS rates all major producers Neutral as Chinese port stockpiles hit their highest level in more than three years

Iron ore prices have recovered to around $105 per tonne after sliding to roughly $96 during the Chinese New Year period, but UBS has flagged a significant supply overhang that could weigh on the majors, including London-listed Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) and BHP Group Ltd (LSE:BHP, ASX:BHP).

Chinese port inventories have climbed to approximately 163 million tonnes, up 19 million tonnes year-on-year and the highest level in more than three years, a build that UBS describes as a key risk to the price recovery.

Rio Tinto, the FTSE 100 mining company, saw its Pilbara earnings before interest, tax, depreciation and amortisation (EBITDA) per tonne improve by $2 in the second half of 2025, recovering from cyclone disruptions earlier in the year, but UBS singled out its cash costs as a vulnerability.

Rio's C1 cash cost of $23.80 per tonne is around $5 per tonne higher than both BHP and Fortescue, which UBS described as a key opportunity for the miner's new management team to address.

BHP, which also has a primary London listing, was identified as the highest-margin producer in the group, with an EBITDA margin of 63% and EBITDA per tonne of $58 in the second half of 2025.

Anglo American's iron ore assets, Kumba Iron Ore in South Africa and Minas Rio in Brazil, delivered stable EBITDA per tonne despite depressed high-grade and lump premiums.

UBS carries 'neutral' ratings on Rio Tinto, BHP, Vale and Fortescue, and a Sell on Kumba Iron Ore, citing spot 2026 free cash flow yields of 10% for Rio, 9% for Vale and 5% for BHP.

China's steel production fell 14% year-on-year in January on official data, though blast furnace utilisation rates remain stable at around 86%.

Southern Copper (SCCO) closed at $196.16 in the latest trading session, marking a +2.9% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.21%. Meanwhile, the Dow experienced a drop of 0.07%, and the technology-dominated Nasdaq saw an increase of 0.01%.

Shares of the miner have depreciated by 8.47% over the course of the past month, underperforming the Basic Materials sector's loss of 2.21%, and the S&P 500's loss of 2.26%.

Analysts and investors alike will be keeping a close eye on the performance of Southern Copper in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.88, marking a 57.98% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $3.87 billion, indicating a 23.93% growth compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates project earnings of $6.57 per share and a revenue of $14.56 billion, demonstrating changes of +25.38% and +8.5%, respectively, from the preceding year.

It is also important to note the recent changes to analyst estimates for Southern Copper. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 3.1% rise in the Zacks Consensus EPS estimate. Southern Copper is holding a Zacks Rank of #3 (Hold) right now.

In the context of valuation, Southern Copper is at present trading with a Forward P/E ratio of 29.02. This indicates a premium in contrast to its industry's Forward P/E of 24.22.

One should further note that SCCO currently holds a PEG ratio of 1.97. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Mining – Non Ferrous industry had an average PEG ratio of 1.97 as trading concluded yesterday.

The Mining – Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 88, putting it in the top 36% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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This article originally published on Zacks Investment Research (zacks.com).

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VANCOUVER, BC / ACCESS Newswire / March 10, 2026 / Condor Resources Inc. ("Condor" or the "Company") (TSXV:CN) is pleased to announce that its Cobreorco copper-gold project in Apurímac, Peru, has received the Initiation of Activities ("IA") permit from the Peruvian Ministry of Energy and Mines ("MEM"), the final permit required to commence exploration drilling at the project.

Cobreorco is being advanced pursuant to Condor's option and joint venture agreement with Teck Perú S.A. ("Teck Perú"), a subsidiary of Teck Resources Limited. Following receipt of the IA permit, Teck Perú is expected to commence a 3,500-metre diamond drilling program in June 2026, consisting of six priority holes designed to test a compelling copper-gold skarn and porphyry target defined through geophysical, geochemical and geological work completed in 2025.

Chris Buncic, President and CEO of Condor, commented: "The receipt of the IA permit is a major milestone for Cobreorco and an important step forward in unlocking the value of this project. Teck Perú have done an excellent job advancing Cobreorco through the technical, social and permitting work required to get to this point. We are excited to see drilling begin and believe that a successful program at Cobreorco has the potential to have a material positive impact for Condor shareholders."

During 2025, Teck Perú completed an extensive work program at Cobreorco that materially advanced the project toward drilling. This included ongoing engagement with local communities, technical field reviews to refine the geological model, and multiple geophysical and surface exploration surveys. Key work programs completed during the year included a radiometric survey over approximately 70% of the property, in-fill soil sampling, a ground gravimetric survey, and a 20 line-kilometer induced polarization survey. The results of this work were integrated into an updated geological and geophysical model, which was used to define the planned 2026 drill program.

In addition to the technical work, Teck Perú made significant progress on the project's permitting and social workstreams during 2025. The project's Declaración de Impacto Ambiental ("DIA") was approved in June 2025. Thereafter, Teck Perú advanced the required consultation and community engagement processes, culminating in support from the relevant communities for the proposed drilling activities. Teck Perú also received the project's water permit from the Autoridad Nacional del Agua ("ANA").

Figure 1: Geophysical surveys completed during 2025, including radiometric coverage, gravimetry stations, induced polarization lines, and the location of planned 2026 drill holes. Figure 2: Integrated geophysical and geochemical anomalies defining the Cobreorco drill target, including proposed and contingent drill holes in the 2026 program.

Cobreorco comprises nine mineral concessions totaling approximately 5,100 hectares and is located in the Southern Peru Eocene Belt, approximately 175 kilometers southwest of Cusco. The project hosts copper-gold skarn and porphyry-style mineralization and is considered by management to represent a significant discovery opportunity.

As previously announced, under the terms of the agreement, Teck Perú has the option to earn an initial 55% interest in Cobreorco by incurring US$4 million in exploration expenditures and making US$500,000 in cash payments over a three-year period beginning on the permit date. Following exercise of the first option, Teck Perú may increase its interest to 75% by completing an additional US$6 million in exploration expenditures and making a further US$600,000 in cash payments.

Separately, the Company announces that, pursuant to a finder's fee agreement dated April 7, 2025, it will pay Hernán Barros Cruchaga a finder's fee in connection with the Company's sale of its Soledad property in Ancash, Peru. The finder's fee consists of US$3,000 in cash and 150,000 common shares of the Company, subject to acceptance by the TSX Venture Exchange.

Technical Disclosure

The scientific and technical information contained in this news release has been reviewed and approved by Dr. Quinton Hennigh, P.Geo., Ph.D., a Qualified Person as defined by National Instrument 43-101 and a Director of Condor Resources Inc.

About Condor Resources Inc.

Condor Resources is a precious and base metals exploration company focused on its portfolio of projects in Peru. The Company's flagship project, Pucamayo, is an 85 km2 property containing a high sulfidation epithermal system with disseminated precious metals mineralization with a large lithocap alteration visible at surface. The Huiñac Punta project, a 7,200 Ha property in Huanuco, Peru, has the potential to host a large carbonate replacement style (CRD) silver-dominant polymetallic mineralized body with the potential for discovery of a bulk tonnage silver and base metals deposit. The Company has also optioned the Cobreorco project which targets gold-copper skarn and porphyry-style mineralization to a subsidiary of Teck Resources Limited. The Company's award-winning exploration team in Peru has a long history of success in discovering and advancing high quality exploration projects and managing the social aspects of its exploration activities.

For more information, please visit the Company's website at www.condorresources.com.

Follow Condor Resources (@CondorResources) on X and (@condor-resources) on LinkedIn.

ON BEHALF OF THE BOARD

Chris BuncicPresident & Chief Executive Officer

For further information please contact the Company at 1-866-642-5707, or by email at info@condorresources.com

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements include, but are not limited to the Company's expectations with respect to the use of proceeds raised under the sale.

Although the Company believes that the expectations reflected in applicable forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties, including risks associated with the business of mineral exploration and development; continued availability of capital and financing; general political and economic conditions, fluctuations in metal prices and other market-related risks, including any volatility in the Company's share price, that may cause actual results, performance or developments to differ materially from those contained in such statements. Therefore, readers are cautioned not to place undue reliance on forward-looking statements and forward-looking information. Condor does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future or otherwise, except as required by applicable law.

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

SOURCE: Condor Resources Inc.

View the original press release on ACCESS Newswire

An updated edition of the January 15, 2026 article.Nuclear energy is increasingly being recognized as a critical solution to meet the world’s rising demand for clean electricity. As utilities continue transitioning toward low-carbon power sources, nuclear plants stand out for their ability to deliver dependable, carbon-free generation. Unlike solar and wind power, which are weather-dependent, nuclear energy provides consistent, around-the-clock output. The renewed momentum in the sector is reflected in the extension of operating licenses for existing reactors, ongoing development of Small Modular Reactors (SMRs), approvals for the construction of new nuclear facilities, and the restart of previously shut U.S. reactors. Investments from major technology companies to support SMR development further underscore the growing investor interest in nuclear energy stocks.In the United States, new policies aim to expand nuclear capacity from roughly 100 gigawatts (“GW”) in 2024 to about 400 GW by 2050. The nuclear energy sector is gaining momentum as it supports global decarbonization goals. Favorable regulations and ongoing R&D in advanced SMRs are strengthening its outlook. Meanwhile, rising demand for reliable 24/7 clean power from AI data centers, manufacturing reshoring and electric vehicles is creating new growth opportunities. Government initiatives to boost domestic uranium supply are further supporting the sector’s momentum.With this increasing importance, nuclear energy-related stocks, such as Entergy Corporation ETR, Nano Nuclear Energy Inc. NNE and NexGen Energy NXE, are becoming attractive investment options. Unlike other clean energy sources affected by intermittency, nuclear power plants provide a consistent and stable energy output, operating around the clock except during planned maintenance intervals.Compared with other clean energy sources, nuclear power requires significantly less land to generate the same amount of clean electricity. Additionally, while all traditional energy sources produce waste, nuclear energy stands apart for its highly regulated, secure and systematic approach to waste management and storage. Increasing adoption of electric vehicles, rising demand from the power grids and the development of large artificial intelligence-powered data centers are increasing the importance of nuclear power plants.Nuclear Energy stocks have huge potential and can offer significant growth opportunities for investors. Our Nuclear Energy Screen makes it easier for investors to locate high-potential stocks at any given time. Apart from the stocks mentioned above, investors can also explore stocks like Denison Mines Corp. DNN and BHP Group Limited BHP, as these companies ensure the supply of uranium for the smooth running of nuclear power plants.Ready to uncover more transformative thematic investment ideas? Explore 36 cutting-edge investment themes with Zacks Thematic Investing Screens and discover your next big opportunity.Entergy Corporation’s nuclear energy portfolio supports its long-term growth strategy and transition to cleaner energy. As of Dec. 31. 2025, the company’s major nuclear plants generated around 21% of its total power capacity. Entergy is actively pursuing license extensions and system upgrades at these facilities, targeting an additional 275 MW through uprates. These enhancements not only increase generation but also highlight Entergy’s ongoing commitment to delivering stable, carbon-free baseload electricity. The company has taken initiatives to add 40 MW at its River Bend nuclear plant in Louisiana.Entergy is advancing efforts to explore next-generation nuclear technologies to further lower emissions. The company has secured a permit in Mississippi for a potential new reactor site and is working to engage industrial customers and technology firms, particularly those in the AI and data sectors. These partnerships aim to collaboratively address the financial and regulatory challenges associated with developing next-generation nuclear projects.Entergy’s nuclear expansion is gaining momentum as electricity demand rises from AI-driven industries and large data centers. Supported by strong market demand and a forward-looking strategy, the company’s nuclear initiatives are well-positioned to enhance regional energy reliability and advance broader U.S. decarbonization goals.This Zacks Rank #2 (Buy) company intends to invest $43 billion during the 2026-2029 period to fund the company's generation fleet transition and grid modernization, and expand its zero-carbon generation portfolio.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Nano Nuclear Energy Inc. is a microreactor developer, aiming to become the leading advanced nuclear microreactor developer in North America. The company is advancing KRONOS toward licensing and already has a pipeline of potential commercial customers and strategic partners in the United States and globally for its KRONOS MMRTM system.Uranium plays a vital role in the successful operation of nuclear power plants. The company continues to address the key bottlenecks within the nuclear fuel supply chain and is in discussion with different providers for securing a dependable uranium source for NANO Nuclear Energy’s future fuel requirements.Nano Nuclear Energy has completed the assembly of its proprietary Annular Linear Induction Pump technology prototype and expects to begin commercial sales efforts. The milestone demonstrates the company’s ability to advance its technology from initial design through construction and successful demonstration.This Zacks Rank #2 company has a growing pipeline of opportunities with potential AI data center, industrial and military-related customers for its KRONOS MM system.NexGen Energy is emerging as an important player in the global nuclear fuel supply chain, led by its flagship Rook I uranium project in Canada’s Athabasca Basin. As nuclear power gains renewed importance in the global energy transition, the company is well-positioned to benefit from rising uranium demand. Government support for nuclear generation to meet decarbonization goals and rising electricity consumption creates a favorable environment for uranium developers like NexGen Energy.NexGen Energy reached a key milestone in 2026 after securing final approval from the Canadian Nuclear Safety Commission to begin site preparation and construction of the Rook I project. Once operational around 2030, the project could produce up to 30 million pounds of uranium annually and will be ready to meet the demand from nuclear power plants.Zacks #2 Ranked NexGen Energy’s long-term outlook remains favorable as global interest in nuclear power rises and uranium supply tightens. Increasing electricity demand from AI technologies and large data centers is expected to boost nuclear expansion and uranium consumption. Backed by a high-quality resource base and a clear path to production, the company is well-positioned to become a leading uranium supplier and generate long-term investor value.

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BHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis Report

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Nano Nuclear Energy Inc. (NNE) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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Futures tied to Canada's main stock index dipped on Monday as escalating tensions in the Middle East drove up oil prices, amplifying inflation concerns among investors.

The TSX dumped 526.25 points or 1.6%, to end the day and the week at 33,083.72. On the week, the index shed 1,256.27 points, or 3.7%. The benchmark snapped a four-week winning streak.

March futures waned 0.9% Monday.

Geopolitical tensions intensified after Iran appointed Mojtaba Khamenei, son of late Ali Khamenei, as the supreme leader. The move was seen as a sign that hardliners remain firmly entrenched in Tehran's leadership as the conflict with the United States and Israel entered its 10th day, reinforcing fears that the war could drag on.

Brokerage J.P.Morgan downgraded First Quantum Minerals to "underweight" from "overweight" and Lundin Mining Corp to "underweight" from "neutral".

ON BAYSTREET

The TSX Venture Exchange forfeited 3.12 points Friday to 1,057.04, for a loss on the week of 50.6 points, or 4.6%.

ON WALLSTREET

Stock futures plunged to start the week as U.S. oil topped $100 a barrel, raising concern about a stagflationary environment for the U.S. economy of rising inflation and slowing growth. The Dow Jones Industrial Average is coming off its biggest weekly slide in nearly a year.

Futures for the 30-stock index stumbled 595 points, or 1.3%, to 46.922.

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Futures for the S&P 500 index flailed 75.25 points, or 1.1%, to 6,668.50.

Futures for the NASDAQ flopped 286.25 points, or 1.2%. to 24,384. Oil futures jumped after major Middle East producers slashed their output due to the continued closure of the key Strait of Hormuz passageway. Kuwait announced cuts but did not say by how much, while Iraq has reportedly seen its production fall 70%.

Oil prices came off their highest levels of the session and stock futures rose from their lows following a Financial Times report that G7 officials were considering tapping their strategic reserves.

The Dow slid around 3% last week, its worst weekly decline since April. The broad S&P 500 shed 2%, while the NASDAQ ended the week 1.2% lower.

In Japan, the Nikkei 225 dropped 5.2% Monday, while in Hong Kong, the Hang Seng descended 1.4%.

Oil prices vaulted $11.57 to $102.57 U.S. a barrel.

Gold prices slipped $65.20 to $5,097.10 U.S an ounce.

Canada's main stock index hit a more than three-week low in a broad-based selloff on Monday, as risk sentiment took a hit globally after escalating tensions in the Middle East sent crude prices surging, intensifying inflation concerns.

The TSX dumped 322.96 points or 1%, by noon EDT Monday, to 32,760.76.

Iran named Mojtaba Khamenei to succeed his slain father as supreme leader, signaling that hardliners remain firmly in charge and the war, which entered its second week, could last longer than previously expected.

Consumer discretionary shed strength with shares of Burger King-parent Restaurant Brands among the sector's biggest percentage losers, down $2.48, or 2.5%, to $98.09.

Among individual movers, copper miner Lundin Mining lost $1.81, or 5.2%, to $32.92, after J.P. Morgan downgraded its stock to "underweight" from "neutral".

ON BAYSTREET

The TSX Venture Exchange dropped 15.22 points, or 1.4%, to 1,041.82.

All but one of the 12 TSX subgroups were weaker midday, as gold dimmed 2.8%, while materials and consumer discretionary stocks each moved back 2.5%.

Only energy bucked the trend, gaining 1.4%.

ON WALLSTREET

Stocks fell to start the week as U.S. oil topped $100 a barrel, raising concerns about a stagflationary environment for the U.S. economy of rising inflation and slowing growth.

The Dow Jones Industrials came off its lows of the morning, but still lost 414.74 points to 47,086.81. The 30-stock index is coming off its biggest weekly slide in nearly a year.

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The S&P 500 index was off 32.3 points to 6,707.72.

The NASDAQ dipped 24.25 points to 22,090.93.

The broader market was helped off its lows by a rise in semiconductor stocks, however. Broadcom jumped more than 3%, while Micron Technology and Advanced Micro Devices gained almost 2% each. Nvidia climbed more than 1%.

West Texas Intermediate crude broke above $100 per barrel in overnight trading to hit more than $119, its first time above the $100 level since 2022, when investors were reacting to the aftermath of Russia’s invasion of Ukraine. It was last up 6% at around $96 a barrel. International benchmark Brent crude added 7% to $99 a barrel. U.S. oil prices began the year below $60 a barrel.

U.S. President Trump posted Sunday evening that a gain in “short term oil prices” was a “very small price to pay” for destroying Iran’s nuclear threat.

The war showed little signs of easing despite Trump’s claim it was “already won” with Iran naming Ayatollah Khamenei’s son, Mojtaba, as its new supreme leader, according to reports.

Prices for the 10-year Treasury sat back, nudging yields up to 4.13% from Friday’s 4.15%. Treasury prices and yields move in opposite directions.

Oil prices skyrocketed $5.53 to $96.43 U.S. a barrel.

Gold prices slumbered $52.30 to $5,106.40 U.S. an ounce.

Canada's main stock index appeared to do a 180-degree turn by the close Monday, turning a general negative trading session into the green, powered mostly by tech issues.

The TSX recovered 105.6 points to close at 33,189.

Consumer discretionary dropped with shares of Burger King-parent Restaurant Brands was down 94 cents or 2.5%, to $99.63.

Among individual movers, copper miner Lundin Mining regained 54 cents, or 1.6%, to $35.27, after J.P. Morgan downgraded its stock to "underweight" from "neutral".

Elsewhere, Kinaxis led tech stocks higher, $22.94, or 6.8%, to $362.45, while Celestica climbed $24.00, or 7.1%, to $363.51.

In industrials, MDA Inc. gained $1.62, or 4%, to $42.05, while Mullen Group collected 39 cents, or 2.3%, to $17.06.

In consumer staples, Empire Company jumped 95 cents, or 2%, to $49.16, while Loblaw Companies perked 99 cents, or 1.6%, to $63.28.

Health-care issues put a brake on things, though, as Curaleaf docked 17 cents, or 5.3%, to $3.05, while Bausch Health Companies dipped right cents, or 1.1%, to $7.25.

In financials, ONEX Corporation lost $2.29, or 2.2%, to $100.14, while Sun Life ditched $1.76, or 2%, to $86.36.

In consumer discretionary stocks, Magna International fell $1.57, or 2%, to $78.35, while Gildan Activewear slid $1.34, or 1.5%, to $83.57.

ON BAYSTREET

The TSX Venture Exchange gained 6.39 points to 1,063.43.

Eight of the 12 TSX subgroups were higher by the close, with information technology sailing 2.2%, industrials better by 0.7%, and consumer staples improving 0.6%.

The four laggards were weighed most by health-care, financials and consumer discretionary stocks, each down 0.6%.

ON WALLSTREET

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The S&P 500 made a comeback from earlier losses on Monday after President Donald Trump said the war with Iran could be reaching its end.

The Dow Jones Industrials surged 239.25 points to 47,740.80. The 30-stock index is coming off its biggest weekly slide in nearly a year.

The S&P 500 index recovered 55.97 points to 6,795.99.

The NASDAQ vaulted 308.27 points, or 1.4%, to 22,695.95.

Those moves mark an impressive turnaround from the losses seen earlier in the day.

On Monday, Trump told a CBS News reporter, who shared the comments in a post on X, that “the war is very complete, pretty much.”

“They have no navy, no communications, they’ve got no Air Force,” the president said, adding that the U.S. is “very far” ahead of his initially stated timeframe for the war of four to five weeks.

Trump also said that ships are now passing through the Strait of Hormuz and that he is “thinking about taking it over.”

The broader market was also helped by a rise in semiconductor stocks. Broadcom advanced more than 4%, while Micron Technology and Advanced Micro Devices increased 5% each. Nvidia climbed more than 2%.

Prices for the 10-year Treasury sat back, nudging yields up to 4.11% from Friday’s 4.15%. Treasury prices and yields move in opposite directions.

Oil prices eased $2.54 to $88.36 U.S. a barrel.

Gold prices slumbered $7.70 to $5,151 U.S. an ounce.

The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has BHP (BHP) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.

BHP is one of 255 individual stocks in the Basic Materials sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. BHP is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for BHP's full-year earnings has moved 10% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, BHP has returned 19% so far this year. In comparison, Basic Materials companies have returned an average of 16%. This shows that BHP is outperforming its peers so far this year.

Another stock in the Basic Materials sector, Buenaventura (BVN), has outperformed the sector so far this year. The stock's year-to-date return is 33.1%.

The consensus estimate for Buenaventura's current year EPS has increased 52.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, BHP belongs to the Mining – Miscellaneous industry, a group that includes 73 individual stocks and currently sits at #48 in the Zacks Industry Rank. On average, stocks in this group have gained 17.6% this year, meaning that BHP is performing better in terms of year-to-date returns.

On the other hand, Buenaventura belongs to the Mining – Silver industry. This 9-stock industry is currently ranked #14. The industry has moved +21.7% year to date.

Investors interested in the Basic Materials sector may want to keep a close eye on BHP and Buenaventura as they attempt to continue their solid performance.

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Wheaton Precious Metals Corp. (NYSE:WPM) is one of the 13 Most Profitable Growth Stocks to Buy Right Now. Lawson Winder from Bank of America reiterated a Buy rating on Wheaton Precious Metals Corp. (NYSE:WPM) on February 26. The firm also raised its price target on the stock from $160 to $188. The firm has updated its 2026 forecasts for metal prices. Following that revision, it is adjusting its price targets for North American Metals & Mining companies under its coverage, according to the analyst.

Earlier, on February 16, Wheaton Precious Metals Corp. (NYSE:WPM) had signed a long-term silver streaming deal with BHP. The agreement includes an upfront payment of US$4.3 billion at closing. The company will also pay 20% of the spot silver price for all delivered ounces.

Under the deal, Wheaton Precious Metals Corp. (NYSE:WPM) will receive silver from BHP’s 33.75% stake in Peru’s Antamina mine. After closing, the company’s share of silver production at Antamina will rise to 67.5%, up from 33.75% under its existing stream with Glencore.

Wheaton Precious Metals Corp. (NYSE:WPM) CEO Randy Smallwood commented:

Quality silver production is becoming increasingly difficult to source while demand continues to rise for both critical industrial uses and for silver’s safe haven qualities in today’s economic environment.

A photo of Vizsla Silver's mining site. Photo from Vizsla Silver website

Wheaton Precious Metals Corp. (NYSE:WPM) operates as a seller of precious metals across Europe, South America, North America, and Africa. It mainly produces and sells silver, gold, Platinum, palladium, and cobalt deposits. The company was incorporated in 2004 and is based in Vancouver, Canada.

While we acknowledge the potential of WPM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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BHP Group now carries an updated fair value estimate of A$51.98, compared with A$51.72 previously, refining how analysts are recalibrating their price targets. Across London, Australia and the U.S., recent target moves in US$ and GBp, along with mixed Buy to Sell ratings, underpin this shift as firms respond to revised views on revenue, margins and the broader commodity environment. As you read on, you will see how to track these changing calls and what they might suggest for your own view on BHP.

Stay updated as the Fair Value for BHP Group shifts by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on BHP Group.

What Wall Street Has Been Saying 🐂 Bullish Takeaways

Argus lifted its BHP Group target to US$90 from US$68 while keeping a Buy rating, pointing to what it views as supportive long term fundamentals and potential benefits from global economic growth.
Argus also highlights that pressure on some commodities has weighed on earnings power and dividends, but it sees conditions improving as the Chinese economy stabilizes, which it views as a positive setup for BHP.
Citi raised its BHP target to 2,800 GBp from 2,600 GBp and maintains a Neutral stance, which still reflects a higher valuation anchor for the shares in its model.
Barclays moved its target up to 2,770 GBp from 2,500 GBp and keeps an Equal Weight rating, signalling that its updated work supports a higher fair value range even without a positive rating tilt.

🐻 Bearish Takeaways

Berenberg increased its target to 2,600 GBp from 2,300 GBp but reiterates a Sell rating, suggesting concern that, in its view, the market price already embeds generous expectations relative to its assessment of BHP’s revenue, margins and commodity exposure.

Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!

ASX:BHP 1-Year Stock Price Chart

We've flagged 1 risk for BHP Group. See which could impact your investment.

What's in the News

BHP is reported to be waiting on the outcome of Rio Tinto's talks to acquire Glencore and is not currently planning a rival bid for the Swiss group, according to people familiar with the discussions.
Reporting on Rio Tinto's interest in Glencore suggests the potential transaction is putting BHP under pressure to respond, given the possible scale of the deal and its relevance to global mining peers.
BHP updated its fiscal 2026 production guidance, with copper guided to 1,900 kt to 2,000 kt, iron ore to 258 Mt to 269 Mt, steelmaking coal to 36 Mt to 40 Mt, and energy coal to 14 Mt to 16 Mt.
The company completed a review of the Jansen Stage 1 potash project, confirming a revised total investment estimate of US$8.4b, an expected production rate of about 4.15 Mtpa, and first production targeted for mid calendar 2027.

How This Changes the Fair Value For BHP Group

Fair value estimate set at A$51.98, compared with A$51.72 previously.
Revenue growth assumption at 74.09%, compared with 41.15% previously.
Net profit margin assumption at 24.60%, compared with 24.09% previously.
Future P/E multiple at 17.44x, compared with 17.82x previously.
Discount rate used at 8.33%, compared with 8.23% previously.

Never Miss an Update: Follow The Narrative

Narratives link a company’s real world story to a financial forecast and fair value, updating as new data, guidance and risks come through. They help you see how project plans, commodity trends and balance sheet choices fit together in one clear view.

Head over to the Simply Wall St Community and follow the Narrative on BHP Group to stay up to date on:

How copper and potash projects are tied to decarbonization and electrification demand, and what that could mean for future revenues and margins.
The role of long life, low cost assets, cost leadership and capital discipline in supporting earnings resilience and shareholder returns.
Key risks around iron ore concentration, project execution at Jansen, regulatory and water constraints, inflationary cost pressure and rising ESG obligations.

Companies discussed in this article include BHP.AX.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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What BHP Group’s recent performance means for investors

BHP Group (ASX:BHP) has recently shown mixed share price moves, with a 4.2% decline over the past day and a 9.6% decline over the past week, while month and past 3 months returns remain positive.

See our latest analysis for BHP Group.

Despite the recent share price pressure, including a 4.2% one day decline and 9.6% seven day share price decline, BHP Group’s A$52.81 share price still sits on the back of a 41.1% one year total shareholder return and a 74.2% five year total shareholder return. That mix points to strong long term wealth creation, while short term momentum has cooled.

If you are reassessing your resources exposure after BHP’s recent moves, it could be a good moment to look at other miners via our 8 top copper producer stocks screener and see what else stands out.

With BHP trading around A$52.81, close to the average analyst price target of A$51.98 and with an intrinsic value estimate pointing to a premium, you have to ask yourself: is there still a buying opportunity here, or is the market already pricing in future growth?

Most Popular Narrative: 4.8% Undervalued

At A$52.81, BHP Group is trading a little below the A$55.50 fair value implied in the most followed narrative, according to Bailey. This framing views today’s pullback as part of a longer term copper and potash story.

Jansen Potash Diversification & Stage 2 Approval: Despite short-term timeline shifts, the Board’s approval of Jansen Stage 2 cements BHP’s commitment to becoming a global potash major. Once fully operational, the Jansen project is expected to deliver approximately 8.5 million tonnes per annum (Mtpa), creating a massive new revenue stream uncorrelated with Chinese industrial demand or iron ore cycles, thereby stabilizing long-term cash flows.

Read the complete narrative.

Curious how a copper heavy portfolio, a long dated potash build out and disciplined capital allocation all feed into that fair value number? The full narrative lays out the revenue mix shift, margin assumptions and required returns that sit underneath Bailey’s A$55.50 figure, and how those inputs attempt to balance BHP’s traditional iron ore cash engine with its future facing assets.

Result: Fair Value of A$55.50 (UNDERVALUED)

Have a read of the narrative in full and understand what’s behind the forecasts.

However, you still have to weigh risks such as a structural slump in Chinese steel demand or cost blowouts at Jansen that could undercut the copper and potash story.

Find out about the key risks to this BHP Group narrative.

Another angle on BHP’s valuation

Bailey’s A$55.50 fair value hangs on a narrative view, but our DCF model paints a much tougher picture. It puts BHP closer to A$38.98, which screens as overvalued relative to its current A$52.81 share price. Which framework do you trust more for a long term call?

Look into how the SWS DCF model arrives at its fair value.

BHP Discounted Cash Flow as at Mar 2026

Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out BHP Group for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 7 high quality undervalued stocks. If you save a screener we even alert you when new companies match – so you never miss a potential opportunity.

Next Steps

After weighing up both the upbeat and cautious parts of this story, it makes sense to move quickly, review the numbers for yourself and see how our read on 3 key rewards and 1 important warning sign lines up with your own.

Looking for more investment ideas?

If BHP has you rethinking where your next dollar goes, do not stop here. Line up a few fresh ideas and compare them side by side.

Target potential value opportunities by scanning companies our screener flags as 7 high quality undervalued stocks that pair quality fundamentals with prices that may not fully reflect them.
Secure your income focus by checking out 7 dividend fortresses, a set of companies offering 5%+ yields where stability sits alongside regular payouts.
Reduce stress in your portfolio and concentrate on resilience with 8 resilient stocks with low risk scores, a collection of businesses that score well on our risk checks.

Companies discussed in this article include BHP.AX.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

BHP Group Limited (NYSE:BHP) is one of the best coal mining stocks to buy right now.

On February 20, Faraday Copper Corp entered into an agreement to acquire a wholly owned subsidiary of BHP Group Limited (NYSE:BHP).

The company is to divest 100% of San Manual property in Arizona. In return, it is to receive a 30% interest in equity in Faraday and commensurate shareholder and marketing rights. In addition, BHP Group Ltd is to participate in any equity raise in Faraday over the next two years.

The divestment paves the way for Faraday to explore pathways for the restarting of the San Manuel copper mine and development of a copper hub in Arizona.

“BHP looks forward to working with Faraday to create a pathway to bring on additional US copper supply to the market. This would support the U.S. objective of greater copper supply chain resilience, as well as economic development in the Pinal County region.”

Earlier, on February 19, BHP entered into a long-term streaming agreement with Wheaton Precious Metals International. The company is to receive an upfront payment of $4.3 billion and, in return, deliver silver produced at the Antamina mine to Wheaton.

BHP Group Limited (NYSE:BHP) is a basic materials company that produces essential commodities the world needs, including iron ore, copper, steelmaking coal, and soon potash. It is also the world’s largest copper producer.

While we acknowledge the potential of BHP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Military conflict in the Middle East has led to the closure of a key global shipping chokepoint, disrupting trade routes that affect Southern Copper Corporation (NYSE:SCCO).
These disruptions are contributing to supply chain challenges, currency headwinds and broad sector downgrades across metals and mining names.
At the same time, insider selling by Southern Copper directors has emerged, adding a governance angle to the current news flow.

Southern Copper is a major copper producer, so it sits squarely in the part of the market that is sensitive to trade bottlenecks and global growth questions. When shipping routes tighten and currencies move sharply, costs, delivery schedules and customer relationships can all come under pressure for companies across the metals and mining sector.

For you as an investor, the combination of geopolitical risk, sector-wide sentiment shifts and insider selling at NYSE:SCCO creates a cluster of issues to watch closely. The way management responds on operations, capital allocation and communication could be important for how the market ultimately treats this set of developments.

Stay updated on the most important news stories for Southern Copper by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Southern Copper.

NYSE:SCCO 1-Year Stock Price Chart

See which insiders are buying and buying and selling Southern Copper following this latest news.

Quick Assessment

❌ Price vs Analyst Target: The current price of US$191.87 sits about 27% above the consensus target of roughly US$150.49.
⚖️ Simply Wall St Valuation: Simply Wall St flags NYSE:SCCO as trading close to its estimated fair value.
❌ Recent Momentum: The 30 day return of roughly 10.2% decline comes as geopolitical tensions and sector downgrades weigh on sentiment.

There is only one way to know the right time to buy, sell or hold Southern Copper. Head to Simply Wall St’s
company report for the latest analysis of Southern Copper’s Fair Value.

Key Considerations

📊 Geopolitical conflict, shipping bottlenecks and sector downgrades could all influence how the market prices NYSE:SCCO in the near term.
📊 Keep an eye on copper shipment volumes, unit costs, currency impacts and any management commentary on rerouting or hedging.
⚠️ Recent insider selling and a dividend that is not well covered by free cash flow stand out as governance and income risks to track alongside the conflict.

Dig Deeper

For the full picture including more risks and rewards, check out the
complete Southern Copper analysis. Alternatively, you can check out the
community page for Southern Copper to see how other investors believe this latest news will impact the company’s narrative.

Companies discussed in this article include SCCO.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Freeport-McMoRan Inc.’s FCX shares have shot up 39% in the past three months, thanks to the uptick in copper prices, driven by concerns over tighter global supply, tariff-related uncertainties and strong demand. Freeport has underperformed the Zacks Mining – Non Ferrous industry’s rise of 46.8% but topped the S&P 500’s increase of 0.1% over the same period. Its peers, Southern Copper Corporation SCCO and BHP Group Limited BHP, have rallied 36.5% and 30%, respectively.

Freeport’s 3-month Price Performance

Image Source: Zacks Investment Research

FCX has been trading above the 50-day simple moving average (SMA) and 200-day SMA since late November 2025. Following a golden crossover on July 8, 2025, the 50-day SMA is higher than the 200-day SMA, indicating a bullish trend.

FCX Stock Trades Above 50-Day SMA

Image Source: Zacks Investment Research

Let’s take a look at FCX’s fundamentals to analyze the stock better.

Freeport’s Expansion Actions to Power Future Output

Freeport continues to leverage its portfolio of high-quality copper assets, emphasizing disciplined execution and organic growth initiatives to strengthen its production profile. At its Cerro Verde operation in Peru, a large-scale concentrator expansion provided incremental annual production of around 600 million pounds of copper and 15 million pounds of molybdenum. It has completed the evaluation of a large-scale expansion at El Abra in Chile to define a large sulfide resource that could potentially support a major mill project similar to the large-scale concentrator at Cerro Verde, with an estimated resource of approximately 20 billion recoverable pounds of copper. In Arizona, FCX is progressing with pre-feasibility studies at its Safford/Lone Star operations, with completion targeted for 2026, to assess a sizable sulfide expansion opportunity. It has expansion opportunities at Bagdad in Arizona that can more than double the concentrator capacity of the operation. Technical and economic studies have revealed the potential to build concentrating facilities to boost copper production by 200-250 million pounds annually. PT Freeport Indonesia (PT-FI) substantially completed the construction of the new greenfield smelter in Eastern Java during 2024, with the start-up of operations having commenced in the second quarter of 2025. The first production of copper anode was achieved in July 2025. PT-FI is also developing the Kucing Liar ore body within the Grasberg district with a targeted ramp-up to commence in 2030. FCX completed studies in 2025 that showed an opportunity to increase Kucing Liar’s design capacity to 130,000 metric tons of ore per day and reserves by roughly 20% at low costs. Gold production also started at the new precious metals refinery in late 2024.

FCX’s Solid Balance Sheet & Capital Discipline Aid Growth

FCX has a strong liquidity profile and generates substantial cash flows, providing ample flexibility to fund expansion projects, reduce debt and enhance shareholder returns. It generated solid operating cash flows of around $5.6 billion in 2025, including $693 million in the fourth quarter. Freeport ended 2025 with strong liquidity, including roughly $3.8 billion in cash and cash equivalents, $3 billion in availability under the FCX revolving credit facility, and $1.5 billion in availability under the PT-FI credit facility.At the end of 2025, Freeport had a net debt of $2.3 billion, excluding PTFI’s new downstream processing facilities. Its net debt is below its targeted range of $3-$4 billion. Freeport has a policy of distributing 50% of the available cash to its shareholders and the balance to either reduce debt or invest in growth projects. FCX has no significant debt maturities until 2027. Its long-term debt-to-capitalization is around 22.5% compared with 37.8% for Southern Copper and 30.7% for BHP Group.FCX offers a dividend yield of roughly 0.5% at the current stock price. Its payout ratio is 17% (a ratio below 60% is a good indicator that the dividend will be sustainable). Backed by strong financial health, the company's dividend is perceived to be safe and reliable.

Favorable Copper Prices Augur Well for Freeport

Prices of copper, the backbone of electrification, were volatile yet mostly favorable last year due to global economic and trade uncertainties. Prices, for the most part, remained above $5 per pound in the fourth quarter of 2025. Copper prices started 2026 on a strong note, underpinned by robust demand from China and the United States. Structural tailwinds, including electric vehicles (EVs), renewable energy projects, data-center growth and grid modernization, continue to boost copper consumption. Worries about tightening supply amid rising EV and infrastructure demand are supporting the red metal. Supply risks have also increased amid worries over lower output and potential disruptions at major global mining operations. Prices of the red metal are currently hovering near $6 per pound. Freeport’s average realized copper price climbed around 28% year over year to $5.33 per pound in the fourth quarter. Favorable prices are expected to continue to support its performance.

Higher Unit Costs Weigh on FCX’s Margins

Freeport faces headwinds from higher costs. FCX saw a sharp increase in its average unit net cash cost per pound of copper in the fourth quarter of 2025 to $2.22 from $1.40 in the prior quarter, marking a roughly 59% spike. It also climbed 34% year over year. The increase was due to a decline in copper sales volumes. Freeport's outlook for the first quarter of 2026 suggests higher costs on a sequential basis. It expects unit net cash costs to rise to $2.60 per pound, while projecting a full-year average of roughly $1.75. Lower expected sales volumes are likely to adversely impact costs in the quarter. Higher costs are expected to weigh on the company's margins.

Lower Expected Volumes Dampen FCX’s Prospects

Freeport’s copper sales volumes tumbled approximately 29% year over year in the fourth quarter to 709 million pounds, and fell from 977 million pounds in the prior quarter. The company sold 80,000 ounces of gold in the fourth quarter, down around 77% year over year. The downside primarily resulted from the temporary suspension of operations since the mud rush incident at the Grasberg Block Cave mine in Indonesia in September 2025, which led to the suspension of operations. Freeport’s outlook for copper sales volumes for the first quarter of 2026 assumes minimal contribution from its Indonesian operations due to the Grasberg mine incident. FCX expects copper sales volumes of 640 million pounds, indicating a 10% sequential and 27% year-over-year decline. The company has issued weaker guidance for gold sales volume of 60,000 ounces, suggesting sequential and year-over-year decreases. Lower sales volumes are expected to weigh on its top line in the first quarter. FCX remains on track for a phased restart of the Grasberg Block Cave underground mine beginning in second-quarter 2026.

FCX’s Earnings Estimates Northbound

Freeport’s earnings estimates have been going up over the past 60 days. The Zacks Consensus Estimate for 2026 and 2027 earnings has been revised up over the same time frame.

Image Source: Zacks Investment Research

A Look at FCX’s Valuation

FCX is currently trading at a forward price/earnings of 24.87X, a 4.6% discount to the industry average of 26.06X. The FCX stock is trading at a discount to Southern Copper and at a premium to BHP Group.

FCX’s P/E F12M Vs. Industry, SCCO and BHP

Image Source: Zacks Investment Research

Final Thoughts: Hold Onto FCX Shares

Freeport is poised to gain from advancements in its expansion initiatives, which are expected to enhance production capacity. A strong balance sheet provides flexibility to fund growth projects while maintaining shareholder returns. Upward revisions in earnings estimates and favorable copper prices add to the positives. However, weaker sales volume projections and anticipated increases in unit costs warrant a measured approach. Investors who already hold this Zacks Rank #3 (Hold) stock may find it prudent to maintain their positions.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report

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This article originally published on Zacks Investment Research (zacks.com).

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Rio Tinto Group RIO reported solid growth in copper production in the fourth quarter of 2025. Per the production results, the company’s consolidated copper output increased 5% year over year in the fourth quarter. The results were supported by strong performance across its operating assets.The company is making steady progress across its growth pipeline. In December 2025, it achieved its first copper production at the Johnson Camp mine in Arizona using its proprietary Nuton technology. This marks a significant milestone for Rio Tinto, as Nuton enables cleaner, faster and more efficient copper recovery at an industrial scale.The Johnson Camp deployment includes the design and delivery of a heap leach technology package, targeting approximately 30,000 tons of refined copper over a four-year demonstration period. Through the use of Nuton technology, Rio Tinto aims to produce copper with the lowest carbon footprint in the United States at the Johnson Camp.Also, the company is actively collaborating with U.S. customers to strengthen the domestic copper supply. Rio Tinto’s total copper production reached 883 kilotonne (kt) in 2025, up 11% on a year-over-year basis. The results were supported by the solid ramp-up at the Oyu Tolgoi site and strong performance at the Kennecott mine.

Performance of RIO's Peers

Among its major peers, Southern Copper Corporation SCCO has the largest copper reserves in the industry and operates high-quality, world-class assets in investment-grade countries, such as Mexico and Peru. Southern Copper recorded 242,172 tons of copper production in the fourth quarter of 2025, representing a marginal year-over-year increase. In 2025, Southern Copper generated 956,270 tons of copper, about 1.8% lower year over year.Another peer, Ero Copper Corp. ERO delivered strong operational performance in the fourth quarter of 2025, with record consolidated copper production reflecting the continued ramp-up of its Brazilian mining portfolio and progress across key assets. During the quarter, Ero Copper produced 19,706 tons of copper in concentrate, with 10,431 tons coming from its established Caraíba Operations. Ero Copper’s mill throughput increased around 15% from the prior quarter, although lower mined grades modestly pressured costs.

RIO's Price Performance, Valuation and Estimates

Shares of Rio Tinto have gained 51.1% in the past six months compared with the industry’s growth of 39.6%.

Image Source: Zacks Investment Research

From a valuation standpoint, RIO is trading at a forward price-to-earnings ratio of 11.54X, below the industry’s average of 15.5X. Rio Tinto carries a Value Score of A.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for RIO’s 2026 earnings has increased 13.9% over the past 60 days.

Image Source: Zacks Investment Research

Rio Tinto currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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Southern Copper Corporation (SCCO) : Free Stock Analysis Report

Ero Copper Corp. (ERO) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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Freeport-McMoRan Inc. FCX saw a sharp increase in its average unit net cash cost per pound of copper in the fourth quarter of 2025 to $2.22 from $1.40 in the prior quarter, marking a roughly 59% spike. It also climbed 34% year over year. The increase was fueled by a decline in copper sales volumes. Freeport’s copper sales volumes tumbled approximately 29% year over year in the fourth quarter to 709 million pounds, and fell from 977 million pounds in the prior quarter. The downside primarily resulted from the temporary suspension of operations since the mud rush incident at the Grasberg Block Cave mine in Indonesia in September 2025.Freeport's outlook for the first quarter of 2026 suggests higher costs on a sequential basis. It expects unit net cash costs to rise to $2.60 per pound, while projecting a full-year average of roughly $1.75. Lower expected sales volumes are likely to adversely impact costs in the quarter. Higher costs are expected to weigh on the company's margins. Among FCX’s peers, Southern Copper Corporation SCCO reported lower unit costs in the fourth quarter. Southern Copper’s operating cash cost per pound of copper, net of by-product revenue credits, was 52 cents, marking a roughly 46% decline from 96 cents per pound reported in the prior-year quarter. SCCO’s operating cash cost per pound of copper also declined roughly 34% year over year in 2025.BHP Group Limited BHP saw lower unit costs across its Escondida and Copper South Australia operations in the first half of fiscal 2026 (ended Dec. 31, 2025), partly offset by an increase at Spence. BHP expects the unit cost for Escondida to be in the band of $1.20-$1.50 per pound for fiscal 2026. BHP also projects Copper South Australia’s unit cost to be between $1 and $1.50 per pound. Unit costs at Spence are expected to be between $2.10 and $2.40 per pound for fiscal 2026.

The Zacks Rundown for FCX

Shares of Freeport are up 41.3% in the past six months against the Zacks Mining – Non Ferrous industry’s rise of 73.5%.

Image Source: Zacks Investment Research

From a valuation standpoint, FCX is currently trading at a forward 12-month earnings multiple of 24.88, a 4.3% discount to the industry average of 26X. It carries a Value Score of B.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for FCX’s 2026 and 2027 earnings implies a year-over-year rise of 44.1% and 22.3%, respectively. The EPS estimates for 2026 and 2027 have been trending higher over the past 30 days.

Image Source: Zacks Investment Research

FCX stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Freeport-McMoRan Inc. (FCX) : Free Stock Analysis Report

BHP Group Limited Sponsored ADR (BHP) : Free Stock Analysis Report

Southern Copper Corporation (SCCO) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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If you are wondering whether Teck Resources at about $75.78 a share is offering fair value or a stretched price, you are not alone. This article is built to help you frame that question clearly.
The stock has seen mixed short term moves, with a 9.8% decline over the last 7 days, a 1.6% gain over 30 days, and longer term returns of 14.8% year to date, 28.2% over 1 year, 46.5% over 3 years, and 201.4% over 5 years.
Recent attention on Teck Resources has focused on how its share price behaviour fits into broader materials and commodities sentiment, as investors reassess both risk and potential opportunity in the sector. This backdrop provides helpful context when you think about whether the current price is attractive or demanding.
Despite that track record, Teck Resources currently has a valuation score of 1 out of 6. This means it screens as undervalued on only one of six checks. Next we will look at what different valuation approaches say about the stock, and finish with an even more practical way to think about its value in your portfolio.

Teck Resources scores just 1/6 on our valuation checks. See what other red flags we found in the full valuation breakdown.

Approach 1: Teck Resources Discounted Cash Flow (DCF) Analysis

A Discounted Cash Flow, or DCF, model takes estimates of the cash Teck Resources could generate in the future, then discounts those cash flows back into today’s CA$ to arrive at an intrinsic value per share.

On the latest figures, Teck Resources shows last twelve month free cash flow of about CA$2.2b outflow, which means cash usage rather than cash generation over that period. Analysts and model estimates then project free cash flow turning positive and reaching CA$2.1b by 2030, with a series of annual projections between 2026 and 2035 that Simply Wall St extrapolates once published analyst estimates run out.

Pulling those forecast cash flows together, the 2 Stage Free Cash Flow to Equity model arrives at an estimated intrinsic value of about CA$63.72 per share. Compared with a current price around CA$75.78, the model implies Teck Resources is about 18.9% overvalued on this cash flow view.

Result: OVERVALUED

Our Discounted Cash Flow (DCF) analysis suggests Teck Resources may be overvalued by 18.9%. Discover 8 high quality undervalued stocks or create your own screener to find better value opportunities.

TECK.B Discounted Cash Flow as at Mar 2026

Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Teck Resources.

Approach 2: Teck Resources Price vs Earnings

For a profitable company, the P/E ratio is a straightforward way to link what you pay for each share to the earnings that support that price. It helps you see how many dollars investors are currently willing to pay for each dollar of earnings.

What counts as a “normal” P/E depends on how the market views a company’s growth outlook and risk. Higher growth or lower perceived risk can justify a higher multiple, while slower growth or higher risk usually points to a lower, more conservative P/E.

Teck Resources currently trades on a P/E of about 26.46x. That is above the Metals and Mining industry average of roughly 19.71x, yet below the peer group average of about 35.59x. Simply Wall St’s Fair Ratio for Teck Resources is 23.50x, which is its proprietary view of what a reasonable P/E could look like given variables such as earnings growth, industry, profit margins, market cap and company specific risks.

The Fair Ratio is more tailored than a simple peer or industry comparison because it aims to adjust for those business specific factors rather than just averaging what others trade on. On this basis, Teck Resources current P/E of 26.46x sits above the 23.50x Fair Ratio, which points to the shares screening as somewhat expensive on this earnings multiple view.

Result: OVERVALUED

TSX:TECK.B P/E Ratio as at Mar 2026

P/E ratios tell one story, but what if the real opportunity lies elsewhere? Start investing in legacies, not executives. Discover our 3 top founder-led companies.

Upgrade Your Decision Making: Choose your Teck Resources Narrative

Earlier we mentioned that there is an even better way to think about valuation, so let us introduce you to Narratives, a simple tool on Simply Wall St’s Community page that lets you write the story you believe about a company, link that story to explicit forecasts for revenue, earnings and margins, and see the fair value those assumptions produce. You can then compare this with the current price to help you decide whether to buy, hold or sell. The Narrative updates when fresh information like news or earnings is added. For Teck Resources, one investor might lean toward a cautious view with a fair value around CA$50.00, while another could align with a more optimistic view closer to CA$90.00. Narratives lays out those different stories side by side so you can quickly see which one best matches your own expectations and risk comfort.

For Teck Resources however we will make it really easy for you with previews of two leading Teck Resources Narratives:

🐂 Teck Resources Bull Case

Fair value in this bullish Narrative: CA$90.00

Implied pricing vs fair value: about 15.7% below this fair value based on the CA$75.78 last close

Revenue growth assumption: 7.53% a year

The bullish view focuses on copper growth, critical minerals policy support, and low carbon operations as potential drivers of higher earnings and margins over time.
It assumes Teck can use its balance sheet and liquidity to build out copper projects and improve earnings per share while maintaining access to ESG focused supply chains.
On this view, a future P/E in the low 20s is treated as reasonable if Teck reaches revenue of about CA$12.6b and earnings of about CA$2.0b by 2028.

🐻 Teck Resources Bear Case

Fair value in this bearish Narrative: CA$57.90

Implied pricing vs fair value: about 30.9% above this fair value based on the CA$75.78 last close

Revenue growth assumption: 3.62% annual decline

The bearish view focuses on softer long term demand for newly mined metals, higher operating and ESG compliance costs, and ongoing project and permitting challenges.
It assumes Teck faces sustained cost pressure, operational disruptions, and merger execution risk that could limit free cash flow and keep earnings sensitive to setbacks.
On this view, even with earnings growth, a required future P/E in the 40s is treated as demanding given the assumed revenue decline and integration risks.

Both Narratives use the same current share price and similar financial inputs, but they describe very different possibilities for how Teck Resources might balance growth, costs, and project execution over time. Comparing them side by side may help you assess which set of assumptions is closer to your own expectations and risk comfort before you act.

Do you think there’s more to the story for Teck Resources? Head over to our Community to see what others are saying!

TSX:TECK.B 1-Year Stock Price Chart

Companies discussed in this article include TECK-B.TO.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

FEATURE

Dr. Copper has a bit of a cold.

The industrial metal has taken a hit due to worries about the war in Iran and top mining stocks such as Freeport Mc-Mo-Ran have tumbled as well. But copper, given the Doctor nickname by traders who joke that it has a PhD in economics due to its close correlation to demand for key industrial and tech goods, may be about to perk up again.

Copper prices are down nearly 3% in the past five days to around $5.91 a pound in New York, or $12,910 a metric ton on the London Metal Exchange. The metal is still up about 4% for the year though.

Mining stocks have been even more volatile, with the

and

exchange-traded funds each down between 7% and 8% in the last five trading sessions. These ETFs have all surged about 20% in 2026, however.

But the prices of the metal, as well as key copper mining stocks and funds, rebounded Wednesday after their steep selloff Tuesday. (The same was true for precious metals such as gold and silver as well as their mining stocks.)

The comeback may not be over yet. Analysts at Citi argue that copper prices in London could bounce back to a range of $13,500 to $14,000 a metric ton within a matter of weeks. That is based on the belief that the Iran conflict will soon dissipate. But the volatility is likely to persist until there are further signs that the fighting will end.

In fact, the Citi analysts argued that copper prices could dip below $12,000 a metric ton before finally hitting bottom. They noted that worries about the conflict in the Middle East may boost inflation worries and lead to a strengthening dollar. That would reduce the odds of interest rate cuts by the Federal Reserve in the coming months. All of that is negative for copper in the near-term.

But the Citi analysts noted in another report from late February that demand for copper from both manufacturing companies as well as the increased buildout of data centers for artifiical-intelligence should steadily increase throughout the year. That’s bullish for copper prices and is a reason why investors should treat any further declines as a good buying opportunity.

And if that’s the case, copper mining stocks would benefit as well. Analysts at

Bank of America

said in a report Tuesday that “everybody seems to want more ‘future facing commodities,’ copper in particular.”

The BofA team said that the continued energy transition trend, including more electrification, as well as strong demand for AI and data centers, are reasons to be bullish on copper. Expectations for strong economic growth in India should lead to even more demand for copper.

As such, the BofA analysts think copper prices could hit $16,000 a metric ton, or $7.26 a pound, by the second half of next year. That’s nearly 25% higher than current prices.

Copper miners would benefit as well. BofA recommends pure play copper miners

Freeport-McMoRan

the London-listed and Chilean-based Antofagasta, Canada’s

Lundin Mining
Ivanhoe Mines

and

HudBay Minerals

as buys.

But the analysts also say investors should look for larger, more diversified mining companies that may have “very valuable ‘hidden’ copper businesses,” such as Anglo American, BHP, Glencore and Rio Tinto.

So go ahead and make an appointment to see Dr. Copper. Once the Iran-fueled volatility is over and the economy and stock market get back on more solid footing, copper prices and mining stocks should resume their climb.

Write to Paul R. La Monica at paul.lamonica@barrons.com

Southern Copper (SCCO) ended the recent trading session at $206.23, demonstrating a -5.77% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.94% for the day. Meanwhile, the Dow lost 0.83%, and the Nasdaq, a tech-heavy index, lost 1.02%.

The stock of miner has risen by 13.51% in the past month, leading the Basic Materials sector's gain of 12.9% and the S&P 500's loss of 1.3%.

Analysts and investors alike will be keeping a close eye on the performance of Southern Copper in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.88, reflecting a 57.98% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $3.87 billion, indicating a 23.93% increase compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $6.57 per share and revenue of $14.56 billion, which would represent changes of +25.38% and +8.5%, respectively, from the prior year.

Any recent changes to analyst estimates for Southern Copper should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.1% higher. At present, Southern Copper boasts a Zacks Rank of #3 (Hold).

In terms of valuation, Southern Copper is currently trading at a Forward P/E ratio of 33.31. This represents a premium compared to its industry average Forward P/E of 29.74.

One should further note that SCCO currently holds a PEG ratio of 2.26. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Mining – Non Ferrous industry had an average PEG ratio of 2.26.

The Mining – Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 37% of all 250+ industries.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Southern Copper Corporation (SCCO) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

FEATURE

Freeport McMoRan

stock plummeted Tuesday, along with shares of other metals and mining companies, as commodities declined in a risk-off trade tied to U.S. military action in Iran.

Shares of the copper miner traded as low as $60.84 and closed at $65.57, down 4%. The

and

were down more than 2% at points in the day and closed down 0.9% and 0.8%, respectively.

Benchmark oil prices jumped about 4% by the end of the stock trading day, stoking fears of inflation and reduced economic activity. That is helping push down commodity prices. Copper was off 1.7% at $5.84 per pound. Gold and silver prices were down 3.8% and 6.8%, respectively.

Gold and silver are often considered haven assets, rising in times of stress. But the U.S. dollar is rising, which can take some of the momentum from commodities.

Whatever the reasons, it’s a perfect setup for mining stock declines.

Southern Copper

stock dropped 5.8%. Shares of gold miner

Newmont

lost 7.8%.

Starting points help explain the severity of the selloff. Coming into Tuesday trading, shares of Southern Copper, Freeport, and Newmont were up an average of almost 150% over the past 12 months. Investors might be protecting profits as geopolitical tensions ratchet higher.

There isn’t much company-specific news to pin declines on. And not everyone believes the selloff is justified.

Jefferies wrote Monday that metals and mining stocks should continue to outperform as the conflict creates supply chain risks, necessitating stockpiling of metals.

Stockpiling means extra demand.

That might help down the road, but for now, investors are thinking about risks, not rewards, arising from the conflict with Iran.

Write to Al Root at allen.root@dowjones.com

In recent days, an escalating military conflict in the Middle East, including US and Israeli airstrikes on Iran and Iran’s declaration that the Strait of Hormuz is closed, has unsettled global markets and weighed on materials and mining companies such as Southern Copper.
The conflict has strengthened the US dollar and pressured commodity prices, which can compress realized metal prices for Southern Copper and influence investor sentiment toward its longer-term growth plans.
We’ll now examine how the stronger US dollar and geopolitical tension could affect Southern Copper’s investment narrative and risk profile.

Find 50 companies with promising cash flow potential yet trading below their fair value.

Southern Copper Investment Narrative Recap

To own Southern Copper today, you need to be comfortable with a copper-focused miner whose fortunes are closely tied to global trade, cost control, and disciplined capital spending. In the near term, the key catalyst is how the company manages pricing and margins after a very strong 2025, while the biggest current risk is that geopolitical shocks, like the Middle East conflict and a stronger US dollar, further pressure realized metal prices without a corresponding drop in operating costs.

The recent Middle East turmoil coincides with fresh skepticism from parts of Wall Street, highlighted by BofA’s February downgrade to Underperform on concerns about valuation and a weaker near term operating outlook. That caution now sits beside Southern Copper’s robust 2025 results, with full year sales of US$13,420.0 million and net income of US$4,334.9 million, and its decision to keep returning cash through a US$1.00 per share quarterly dividend plus a small stock dividend.

Yet, behind this strong recent performance, investors should be aware of how rising capital spending and community issues could suddenly change the risk profile…

Read the full narrative on Southern Copper (it's free!)

Southern Copper's narrative projects $13.0 billion revenue and $4.3 billion earnings by 2028.

Uncover how Southern Copper's forecasts yield a $149.54 fair value, a 27% downside to its current price.

Exploring Other PerspectivesSCCO 1-Year Stock Price Chart

Some of the most optimistic analysts were penciling in roughly US$13.7 billion of revenue and US$4.9 billion of earnings by 2028, yet recent geopolitical shocks and project specific risks like Tía María and Los Chancas show how differently you might view Southern Copper’s future, and why it can help to compare several viewpoints before deciding what you believe.

Explore 6 other fair value estimates on Southern Copper – why the stock might be worth less than half the current price!

Decide For Yourself

Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts.

A great starting point for your Southern Copper research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.
Our free Southern Copper research report provides a comprehensive fundamental analysis summarized in a single visual – the Snowflake – making it easy to evaluate Southern Copper's overall financial health at a glance.

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Companies discussed in this article include SCCO.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

TORONTO — Critical mineral projects got increased support from government during a major mining conference on Monday as the rush to secure supplies accelerates.

At the Prospectors and Developers Association of Canada conference in Toronto, the federal government announced a new round of project funding while the Ontario government announced accelerated development of an access road in the north of the province.

The support comes as countries look to secure supply chains amid rising trade tension, as well as benefit from the rising demand for key metals like copper, nickel and lithium needed for priorities like electrification and defence.

It also comes as the mining industry itself gets swept up in the wider challenges, said Don Lindsay, former CEO of Teck Resources Ltd., said in a keynote speech Monday.

"The industry faces real challenges, serious ones, geopolitical risk. The world is more fragmented than it has been in decades," said Lindsay.

"We're seeing supply chain vulnerability, we're seeing countries trying to secure critical minerals for themselves. We're exposed to geopolitical risk like we've never been before."

The trends have led politicians to get onside, he said.

"Prime ministers and presidents talk about accelerating permits and development. They get it, finally."

At the conference Monday, Ontario Premier Doug Ford released an accelerated schedule for construction of a road to develop the so-called Ring of Fire critical minerals region of northern Ontario.

The plan is to start construction in June to have the roads completed by 2031, several years ahead of the previous schedule.

"With President Trump's tariffs causing so much uncertainty, we don't have a second to waste," Ford said.

Federal Natural Resources Minister Tim Hodgson announced 30 critical minerals partnerships and investments at the conference under the Critical Minerals Production Alliance.

Deals include up to $7 million to Greenland Resources' Malmbjerg project in Greenland, $9.1 million to Cyclic Materials Inc.'s rare earths elements recycling centre in Kingston, Ont. and $16.7 million for First Phosphate's Bégin-Lamarche demonstration and feasibility project in Saguenay–Lac-Saint-Jean, Que.

"Canada and our allies abroad are putting real capital behind the secure, sustainable supply chains that our economies and our defence industries depend on," said Hodgson in a statement.

Prime Minister Mark Carney's joint statement released Monday with India's Prime Minister Narendra Modi also underscored a commitment to deepening partnerships in resource sectors.

The announcement included the two countries signing a memorandum of understanding on critical minerals value chains, and noted India's presence at the PDAC conference in Toronto.

The push to develop critical minerals will, however, likely need continued government support because of private funding shortfalls, said an RBC report out Friday.

The report noted there's a lack of patient risk capital, in part because of the past hollowing out of Canada's mining industry that has limited the number of national champions.

It said that between 2005 and 2012, more than $119 billion in Canadian base metals and steel assets were transferred to foreign ownership, including the likes of Inco, Alcan and Falconbridge.

Anglo American plc. is meanwhile working to close its takeover of Teck Resources Ltd., though the two have billed it as a merger of equals that will create a Vancouver-based critical minerals champion.

The RBC report said the federal government needs to scale the use of sovereign capital across the full value chain, noting Ottawa’s $2-billion Critical Minerals Sovereign Fund lacks heft.

It also advocated for more public spending on infrastructure to help projects, noting the $2.4 billion in road and transmission funding needed to get Ontario's Ring of Fire going.

Clustering critical minerals processing, attracting foreign major miners, and cautiously forging closer ties with U.S. supply chains are also important, the report said.

Canada considers 34 minerals and metals to be part of its official critical minerals list, which includes a range of resources from aluminum to zinc.

This report by The Canadian Press was first published March 2, 2026.

Ian Bickis, The Canadian Press

TORONTO, Feb. 27, 2026 /CNW/ – Blue Moon Metals Inc. ("Blue Moon" or the "Company") (TSXV: MOON) (NASDAQ: BMM) is pleased to announce that Teck American Incorporated, a subsidiary of Teck Resources Limited ("Teck"), has agreed to vend 100% of the past-producing Apex germanium (Ge), gallium (Ga) and copper (Cu) mine located in Utah into Blue Moon (the "Transaction"), becoming a key stakeholder to support an integrated pipeline of US critical mineral projects to secure North American supply. The Transaction adds to an already strong working relationship with key shareholder Hartree Partners LP, an important partner with the US government on their recently announced US$12B critical metals stockpile. Immediate synergies from the Transaction include:

a)	The ability to process zinc concentrates from Blue Moon's Blue Moon Mine in California (the "Blue Moon Mine"), where underground development commenced last year, at Teck's Trail Operations, providing the final piece to solidify a fully integrated North American sourced value chain;

b)	A path to redevelop the Apex mine in Utah to potentially unlock an important onshore source of Ge and Ga;

c)	Possible restart of the permitted Springer tungsten mine in Nevada with the potential to supply a sizable portion of US domestic requirements; and

d)	Redevelopment of the larger Springer complex to build critical mineral processing capacity to support the Blue Moon Mine and other mines in the Western US, with logistical connections to Trail as required.

Christian Kargl-Simard, CEO of Blue Moon states, "Underground development at the Blue Moon Mine is advancing well, which together with the acquisition of the Apex Mine and our redevelopment of the Springer metallurgical complex and Springer tungsten mine provides a unique hub and spoke platform for US critical metals growth. Teck and Blue Moon are logical partners, combining Blue Moon's US project pipeline and processing capacity at Teck's Trail Operations. We are excited to leverage our combined infrastructure, industry leading technical knowhow, and financing depth to advance our US domestic copper, zinc, tungsten and now germanium and gallium projects to provide long-term feed for our Springer complex."

Ian Anderson, Teck Executive Vice President & Chief Commercial Officer commented, "Following our cornerstone investments to rebuild zinc, lead, and silver capacity in Idaho's Silver Valley, revitalizing the long-standing connection between US miners and our smelting and refining complex in Trail, this transaction with Blue Moon marks another important step to develop new US sources of critical minerals. As a supportive stakeholder, we look forward to working with Blue Moon as they advance their mines and processing complex in California, Utah, and Nevada, as well as to exploring other ways to strengthen North American supply chains together."

Blue Moon Mine, California (Gold, Zinc, Silver, Copper, Lead, Barite)

Blue Moon's advanced-stage 100%-owned Blue Moon zinc-copper-gold-silver project is located in east-central California in Mariposa County, with direct access to roads and power. Originally mined by Hecla Mining Company from 1943-1945, the mine produced 55,656 tons grading 12.3% zinc, 0.36% copper, 0.48% lead, 3.75 oz/ton silver and 0.062 oz/ton gold. The property was later actively explored and advanced during 1980s and 1990s by Imperial Metals, Boliden and Lac Minerals (now Barrick).

Since the new management team and board started in November 2024, Blue Moon has completed a modern review, verification, and analysis of the historical data, and in March 2025 published a NI 43-101 compliant resource estimate and a preliminary economic assessment to support a mine restart, demonstrating potential for annual average production of 22,566 oz gold, 62.3M lbs of zinc, 681,784 oz silver and 7.2 Mlbs copper over a +10 year mine life (see press release dated March 3, 2025).

The Company received permits in April 2025 and began construction of an exploration decline on October 6, 2025. The decline is progressing well with over 140 meters advanced to date and underground diamond drilling is underway in an effort to upgrade resources to reserves. Production is forecasted to begin in 2028 and technical work is ongoing to support processing the material at Blue Moon's Springer complex in Nevada to produce copper and zinc concentrates with appreciable gold and silver by-product credits, as well as potentially a lead concentrate and clean pyrite and barite products.

By combining the Blue Moon Mine in California, with processing at the Springer Complex in Nevada and smelting of the zinc concentrate at Teck's Trail Operations in Canada, Blue Moon and Teck are building a fully integrated North American value chain.

Apex Mine, Utah (Germanium, Gallium, Copper)

Apex is a historic underground mine in southwest Utah, which was previously mined for copper oxide, and later for Ge and Ga. This underground mine became the primary producer of gallium and germanium in the United States when Musto Explorations Ltd. brought it into production in the mid 1980's and again with Hecla Mining Company in the 1990's. During its peak year of operations, Apex produced 10,270 tons yielding 1,645 lb Ga, 5,634 lbs of Ge, and 224,800 lbs of Cu.

Hecla completed a feasibility study in 1989, reporting a reserve of 230,200 tons of 0.100% Ge, 0.046% Ga and 1.6% Cu. A historical reserve estimate1 by Ken Krahulec in 2018 estimated 1 MT @ 0.087% Ge, 0.033% Ga, 1.8% Cu and 41 g/t Ag. The Ge and Ga are 10-100x higher grade than most Ge and Ga deposits, with in-situ value per ton similar to 0.5 oz/T gold ores. Beyond the historical reserves, Hecla also identified several additional breccia bodies as prospective exploration targets, including the Paymaster, Cavern, and 500 North pipes, along with further oxide zones in the immediate mine area.

1As at the date of this news release, a qualified person has not completed sufficient work to classify the historical estimates above as current mineral resources or mineral reserves in accordance with NI 43-101 and Blue Moon is not treating the historical estimate as current mineral resources or mineral reserves. In order to verify the historical estimates, the Company needs to engage a qualified person to review the historical data, review any work completed on the property since and complete a new technical report. Blue Moon views this historical data as an indicator of the potential size and grade of the mineralized deposits, and this data is relevant to Company's future plans with respect to the property.

Subject to renewed permits and with the intent to reopen the mine, the Company plans to fast track efforts to advance the technical studies, metallurgical testing, process flowsheets, permitting and community engagement to support a final investment decision. In parallel, Blue Moon is evaluating options for a new processing line at the Company's Springer complex to process the Apex material and provide an integrated United States Ge and Ga value chain.

Springer Complex, Nevada (Multi-commodity Processing Hub)

The Springer property is located on the east flank of the Eugene Mountains, approximately 25 miles southwest of the city of Winnemucca, and 125 miles northeast of the city of Reno, in Pershing County, Nevada. The mine site is approximately 8 miles from Interstate 80, serviced by paved/gravel road, over owned land. The Springer tungsten milling facility is located entirely on private fee lands.

Springer is a former tungsten production facility consisting of a 1,360-ft vertical shaft and underground workings, a 1,200 ton per day mill with automated rod/ball mill grinding and flotation circuits, plus all water rights, and most permits necessary for operation of the facility.

The Springer tungsten property was the site of continuous underground tungsten mining between 1918 and 1958, much of that time controlled first by the Segerstrom family, and later by the Nevada-Massachusetts Mining Company ("NMC"). The General Electric Company ("GE") acquired the property in the 1970's, interested in securing long term tungsten supply assets to support its lighting and industrial tools businesses. The current mine and mill were constructed by Utah International Inc. ("UII", later became BHP Minerals Group) for GE in the mid 1970's, and was subsequently commissioned and operated by GE for 8 months in 1982. The property has not been actively mined since October 1982, and the underground workings are currently flooded to a depth of approximately 375 feet. EMC Metals Corp. acquired the Springer mine and associated properties from GE in 2006. Between that purchase date and today, considerable refurbishment and renewal has been undertaken to the mill, control systems, hoist house, and an up-rating of the mill throughput from a nominal 950 tpd to a current 1,350 tpd capacity, and an estimated 1,200 tpd throughput after availabilities (89%).

Centrally located with access to diverse mineral sources and existing road and rail infrastructure, the Springer Mine and Mill is well situated to become a regional metallurgical complex. With established tailings and water management systems, the brownfield site provides significant opportunities to reduce capital and permitting timelines compared to a greenfield development.

The Company purchased the site in February 2026 to provide processing capacity to support the development of the Blue Moon Mine and to establish a regional processing hub. Sitting on a large land package, Blue Moon believes there is significant room to expand the mill layout and add additional buildings to process multiple ore types and improve economies of scale to unlock and maximize the value of resources that would otherwise not support stand-alone processing facilities. Located only a few miles from both Interstate 80 and the Union Pacific rail line, the Springer complex is well connected to the transportation and logistics infrastructure to integrate with other operations, including Teck's Trail Operations.

The Company is presently advancing analysis and engineering to process the Blue Moon Mine material, including updating permitting requirements and changes required to the mill and tailings management system.

Springer Mine, Nevada (Tungsten)

Located on the larger Springer Complex, the Springer Mine as discussed above was one of the most important mines for US-sourced tungsten production. A historic resource estimate was in place at the time of construction and ownership by GE/Utah International Inc.

A historical resource estimate of 10.7 MT at 0.45% tungsten is based on data and reports prepared by the previous operators, General Electric and Utah International Inc in 1984. The company has not completed the work necessary to have the historical estimate verified by a QP. The company is not treating the estimate as a current 43-101 defined resource and the historical estimate should not be relied upon.

The company intends on initiating a drill program in 2026 to update the resource model and assess the conditions underground to help further additional technical studies going forward. The company also sees potential to assay for molybdenum, copper, silver and gold, which was not done historically.

Transaction Terms

Blue Moon is acquiring 100% of the Apex mine, consisting of 26 patented and 9 unpatented claims for a total 250 Ha (the "Property"), all subject to a royalty capped at US$1M free and clear of all other encumbrances for the following consideration:

a)	The issuance by Blue Moon to Teck of 7,031,959 common shares representing 8.0% of Blue Moon's issued and outstanding common shares on an undiluted basis on the date of this announcement;

b)	A 0.5% net smelter returns royalty in favour of Teck on the Property;

c)	Life of mine zinc concentrate offtake rights in favour of Teck for the Blue Moon Mine. This offtake is on what Blue Moon believes to be preferential market terms due to the proximal location to Teck's Trail Operations;

d)	Marketing rights in favour of Teck in respect of products produced from Apex or the area extending 1-km from the outermost boundary of the Property; and

e)	Investor rights in favour of Teck including, without limitation, equity participation rights, top up rights, and information rights.

Key conditions precedent to completion of the Transaction is TSXV approval, negotiated definitive agreements acceptable to both parties, and other customary items customary to an asset sale transaction. A purchase and sale agreement has been executed by Teck and Blue Moon on February 27, 2026, and completion is expected to happen in March. No finders fees are being paid on this Transaction.

Qualified Persons

The technical and scientific information of this news release has been reviewed and approved by Mrs. Boi Linh Doig, P.Eng., a Blue Moon Officer, and a non-Independent Qualified Person, as defined by NI 43-101.

About Blue Moon

Blue Moon is advancing 4 brownfield polymetallic projects, including the Nussir copper-gold-silver project in Norway, the NSG copper-zinc-gold-silver project in Norway, the Blue Moon zinc-gold-silver-copper project in the United States and the Springer tungsten-molybdenum project in the United States. All 4 projects are well located with existing local infrastructure including roads, power and historical infrastructure. Zinc, copper and tungsten are currently on the USGS and EU list of metals critical to the global economy and national security. Major shareholders include funds managed by Oaktree Capital Management, Hartree Partners LP, Wheaton Precious Metals, Altius Minerals Corporation, Baker Steel Resources Trust, LNS and Monial. More information is available on the Company's website (www.bluemoonmetals.com).

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

CAUTIONARY DISCLAIMER – FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (collectively "forward-looking information") within the meaning of applicable Canadian and United States securities laws. All statements included herein, other than statements of historical fact, may be forward-looking information and such information involves various risks and uncertainties. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions.

Without limiting the generality of the foregoing, this news release contains forward looking information pertaining to the following: the expected benefits and synergies from the Transaction; production estimates and growth in reserve and resources of the Springer Mine and Mill; successful operation of the Springer Mine and Mill; continued testing, exploration, mining and advancement of Blue Moon's operations across multiple jurisdictions; conversion of the Springer Mine and Mill to support Blue Moon mining operations; mineral price expectations; and other matters ancillary or incidental to the foregoing.

A number of risks, uncertainties and other factors could cause actual results and events to differ materially from those expressed or implied in the forward-looking information or could cause the Company's current objectives, strategies and intentions to change. These risks and uncertainties include but are not limited to: the inability of Blue Moon to complete and integrate the Transaction risks associated with the integration of Springer Mine and Mill operations; risks associated with mining operations in Nevada; regulatory and permitting risks at the state and federal level including with respect to the development of the Blue Moon Mine; and management's ability to anticipate and manage the factors and risks referred to herein. A comprehensive discussion of other risks that impact Blue Moon can also be found in its public reports and filings which are available at www.sedarplus.ca and on the website of the U.S. Securities and Exchange Commission at www.sec.gov.

The forward-looking information is based on certain key expectations and assumptions made by Blue Moon's management, including but not limited to: expectations concerning prevailing commodity prices; the ability to obtain, renew and extend permits as required; estimates of reserves and resources various sites; the integration of the Springer Mine and Mill operations; the completion and subsequent realization of expected synergies and benefits from the Transaction.

Any forward-looking information contained in this news release represents management's current expectations and are based on information currently available to management and are subject to change after the date of this news release. Accordingly, the Company warns investors to exercise caution when considering statements containing forward-looking information and that it would be unreasonable to rely on such statements as creating legal rights regarding the Company's future results or plans.

The Company cannot guarantee that any forward-looking information will materialize and readers are cautioned not to place undue reliance on this forward-looking information. Except as required by applicable securities laws, the Company is under no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by law. All of the forward-looking information in this news release is qualified by the cautionary statements herein.

View original content to download multimedia:https://www.prnewswire.com/news-releases/blue-moon-to-acquire-the-apex-germanium-and-gallium-mine-from-teck-to-advance-us-critical-mineral-projects-to-secure-north-american-supply-302699965.html

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2026/02/c1294.html

VANCOUVER, BC / ACCESS Newswire / March 2, 2026 / Marimaca Copper Corp. ("Marimaca Copper" or the "Company") (TSX:MARI)(ASX:MC2) is pleased to announce the appointment of Joshua Watson as Project Director, leading the development of the Company's Marimaca Oxide Deposit ("MOD") in Chile. This further strengthens Marimaca's technical and project execution capabilities as the Company transitions to the next phase of development at the MOD. In addition, Nico Cookson has been appointed President of the Company, effective March 1st, 2026, following his role as Head of Corporate Development and Strategy.

Mr. Watson is an experienced mining and projects executive with more than two decades of project leadership, delivering major capital projects for world-class global mining companies across the Americas, Australia, and Asia. He has held senior leadership roles with Teck Resources, Barrick, Vale, and Rio Tinto, with responsibility for multi-billion-dollar capital portfolios spanning studies, execution, sustaining capital, and operational readiness.

Most recently, Mr. Watson served as Vice President Projects, Studies and Sustaining at Teck Resources, where he was accountable for project studies and sustaining capital programs including multiple strategic Joint Venture projects. Previously, he was Head of Technical and Capital Projects for Barrick's North American operations, overseeing a multi-billion-dollar project portfolio across processing, energy, metallurgy, tailings, and water management. Earlier in his career Mr. Watson spent four years at Oyu Tolgoi with Rio Tinto, where he held progressively more senior roles, ultimately managing key infrastructure projects and the construction of one of the largest underground materials handling systems globally. Mr. Watson has demonstrated a strong track record of safely delivering complex mining projects on time and within budget, leading large multidisciplinary teams, and establishing high-performance project governance frameworks. He is a Chartered Professional Engineer and holds first-class honours degrees in Civil Engineering and Mathematics.

Mr. Cookson will continue to oversee corporate development, strategy, and investor relation functions, supporting Hayden Locke as Chief Executive Officer of Marimaca. Jose Antonio Merino will remain Managing Director, Chile and Chief Financial Officer, responsible for the oversight and leadership of all Chilean operations of Marimaca.

Hayden Locke, Chief Executive Officer of Marimaca Copper, commented:

"We are excited to welcome Josh to the Marimaca team where he will provide deep technical expertise and a proven track record of delivering large-scale capital projects on time and on budget at tier-one mining operations globally. His experience across detailed engineering, execution, and operational optimisation will be instrumental as he helps lead and further build out our Owner's Team, positioning the Company strongly as we advance the MOD toward a construction decision and deliver the next major copper mine in Chile.

Nico's appointment as President reflects the critical role he has played in shaping Marimaca's corporate strategy and growth over the past several years, and his commitment to our journey toward first copper.

The Company is focused on building out the organisational capability, systems, and execution discipline required to deliver a low capital intensity oxide project in Chile, in line with the development strategy outlined in the DFS. We are excited for what is to be a pivotal year ahead."

Contact Information

For further information please visit www.marimaca.com or contact:

Tavistock+44 (0) 207 920 3150Emily Mossmarimaca@tavistock.co.uk

Forward Looking Statements

This news release includes certain "forward-looking statements" under (without limitation) applicable Canadian securities legislation, including, without limitation, statements regarding the development activities at the MOD. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Marimaca Copper, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: risks that the development activities at the MOD will not progress as anticipated, or at all, risks related to share price and market conditions, the inherent risks involved in the mining, exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project delays or cost overruns or unanticipated excessive operating costs and expenses, uncertainties related to the necessity of financing, uncertainties relating to regulatory procedure and timing for permitting submissions and reviews, the availability of and costs of financing needed in the future as well as those factors disclosed in the annual information form of the Company dated March 27, 2025 and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed at www.sedar.com). Readers should not place undue reliance on forward-looking statements. Marimaca Copper undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.

None of the TSX, ASX or the Canadian Investment Regulatory Organization accepts responsibility for the adequacy or accuracy of this release.

This announcement was authorised for release to the ASX by the Board of Directors of the Company.

SOURCE: Marimaca Copper Corp.

View the original press release on ACCESS Newswire

Vancouver, British Columbia–(Newsfile Corp. – March 2, 2026) – Perseverance Metals Inc. (TSXV: PMI) ("Perseverance", "PMI" or the "Company") is pleased to announce that it has expanded its previously announced private placement of units (see PMI NR Feb 11, 2026 and Feb 23, 2026) from C$3,500,000 to up to C$7,500,000 (the "Offering").

Teck Resources Limited ("Teck"), a leading Canadian resource company and existing investor in Perseverance Metals, and NQ Investissement Minier ("NQIM"), a regional institutional mining investment fund created to support the development of the mining industry in Northern Quebec, have both confirmed their intention to participate in the offering.

The Offering will be comprised of:

up to 4,615,385 hard dollar units of the Company (the "HD Units") priced at C$0.65 per HD Unit for gross proceeds of up to C$3,000,000; and

up to 641,026 Ontario flow-through units of the Company (the "Ontario FT Units") priced at C$0.78 per Ontario FT Unit for gross proceeds of up to C$500,000,

up to 3,921,569 Québec flow-through units of the Company (the "Québec FT Units") priced at C$1.02 per Québec FT Unit for gross proceeds of up to C$4,000,000.

(collectively, the "Units").

Each Unit will be comprised of one common share of the Company (a "Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one additional common share of the Company (a "Warrant Share") at a price of C$0.95 for a period of 36 months from the date of issuance. The expiry date of the Warrants will be subject to acceleration such that, should the closing price of the Shares on the TSX Venture Exchange (the "TSXV") equal or exceed C$1.30 for ten consecutive trading days, the Company may, within 15 business days of such event, accelerate the expiry date of the Warrants to a date that is 30 calendar days following the date on which notice of such acceleration is given by news release, with the new expiry date specified in such news release.

The Shares and Warrants comprising the Ontario FT Units and the Québec FT Units, but not the underlying Warrant Shares, will each qualify as a "flow-through share" within the meaning of the Income Tax Act (Canada). Each Share and Warrant (i) underlying the Québec FT Units will each qualify as a "flow-through share" within the meaning of section 359.1 of the Taxation Act (Québec) (the "Québec Tax Act"); and (ii) underlying the Ontario FT Units will qualify as an "Ontario focused flow-through share" within the meaning of subsection 103(7) of the Taxation Act (Ontario) (the "Ontario Tax Act").

The Company intends to use the proceeds from the sale of the HD Units to fund the inaugural diamond drill campaign on the Voyageur project in the Upper Peninsula of Michigan, continued exploration of the Lac Gayot Project in Québec, and for general corporate purposes.

The gross proceeds from the sale of the Québec FT Units and the Ontario FT Units will be used by the Company to fund "Canadian exploration expenses" related to the Lac Gayot Project in Québec and the Armit Lake Project in Ontario that will qualify as"flow-through critical mineral mining expenditures", as such terms are defined in the Income Tax Act (Canada), and as applicable, will also qualify: (i) in the case of the Ontario FT Units, as "eligible Ontario exploration expenditures" for the purposes of subsection 103(4) of the Ontario Tax Act; and (ii) in the case of the Québec FT Units, for inclusion in the "exploration base relating to certain Québec exploration expenses" within the meaning of Section 726.4.10 of the Québec Tax Act and for inclusion in the "exploration base relating to certain Québec surface mining exploration expenses" within the meaning of Section 726.4.17.2 of the Québec Tax Act (collectively, the "Qualifying Expenditures"). All Qualifying Expenditures will be incurred on or before December 31, 2027, and renounced in favour of the subscribers effective no later than December 31, 2026.

The Company may pay finder's fees in connection with the Offering. All securities issued pursuant to the Offering will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws. The Offering is subject to the approval of the TSXV.

This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Perseverance Metals

Perseverance Metals is a critical minerals explorer with a project portfolio that is strategically located in key North American Ni-Cu-Co-PGE and hard rock lithium regions, including Québec's prolific James Bay district and Michigan's productive Mid-Continent Rift.

Our strict science-driven approach and extensive track record of discovery as leveraged via an exceptional technical advisory board, coupled with an industry-leading team armed with next-generation exploration tools, provide us with a distinct competitive advantage. This offers a unique opportunity for investors to be exposed to a portfolio of projects with the potential for multiple discoveries. Perseverance's exploration assets include:

the Lac Gayot high-grade Ni-Cu-Co-PGE and lithium pegmatite project, which covers the entirety of the 30km Venus Greenstone Belt in Québec, featuring multiple, very high-grade Ni-Cu-Co-PGE showings and zones along with numerous large spodumene-bearing pegmatites with consistent high lithium grades in channel sampling;

the Voyageur Ni-Cu-Co-PGE project which covers 680 km2 of the Upper Peninsula in Michigan, 65 kilometres west of the only producing nickel mine in the United States is drill-ready, and;

the Armit Lake Ni-Cu-Co project, which is the consolidated and underexplored western half of the nickel- and gold-rich Savant Lake Greenstone Belt in Ontario.

Additional information about Perseverance Metals can be found at www.perseverancemetals.com.

On Behalf of the Board,

Michael J. TuckerCEO and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

Perseverance Metals Inc.Michael J. Tucker, CEO+1 (778) 834-3528mtucker@perseverancemetals.com

Perseverance Metals Inc.John Foulkes, President+1 (604) 614-2999jfoulkes@perseverancemetals.com

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

Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including the anticipated timing and completion of the Offering; the securities offered pursuant to the Offering, the potential payment of finders' fees in connection with the Offering; the intended use of proceeds from the Offering, including the timing of incurring all Qualifying Expenditures; the tax treatment of the securities issued under the Offering; and the receipt of regulatory approvals, including acceptance by the TSXV.

Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, assumptions that the Offering will close as anticipated; that the Company will pay finders' fees as anticipated; that the Company will use proceeds from the Offering as anticipated; that all requisite approvals, including that of the TSXV, will be received; and the renunciation and related tax treatment in respect of the securities underlying the Ontario FT Units and Québec FT Units.

Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks that the Offering will not close as anticipated or at all; that the Company will not use proceeds of the Offering as anticipated; that the Company will encounter unforeseen delays; that the Company will not receive all requisite regulatory approvals, including that of the TSXV.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285889

Southern Copper Corporation (NYSE:SCCO) is included among the 13 Best Performing Long Term Stocks to Invest in.

On February 26, BofA downgraded Southern Copper Corporation (NYSE:SCCO) to Underperform from Neutral. It raised its price target on the stock to $175 from $162. The firm said the downgrade reflects concerns about the stock’s “stretched” valuation and weaker near-term operating outlook.BofA said the company’s valuation has become “difficult to justify” following the recent rally in its shares. The firm expects Southern Copper’s production to decline by 3% through 2027. It also said the stock appears to reflect a more optimistic scenario that may not materialize.

Earlier, on January 30, Morgan Stanley raised its price recommendation on Southern Copper to $156 from $137. The firm reiterated an Underweight rating on the shares. The update came after the firm revised its estimates to reflect current commodity prices, foreign exchange assumptions, and the company’s latest guidance following its Q4 earnings report.

Southern Copper Corporation (NYSE:SCCO) operates as an integrated copper producer. The company produces copper, molybdenum, silver, and zinc. Its mining, smelting, and refining operations are based in Peru and Mexico, and it also conducts exploration activities in Argentina, Chile, and Ecuador.

While we acknowledge the potential of SCCO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

Disclosure: None.  Follow Insider Monkey on Google News.

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