Vancouver, British Columbia–(Newsfile Corp. – February 24, 2026) – Stillwater Critical Minerals Corp. (TSXV: PGE) (OTCQB: PGEZF) (FSE: J0G) (the "Company", or "Stillwater") is pleased to announce the Company will be attending the Red Cloud Pre-PDAC Mining Showcase, being held February 26-27, 2026 at The Omni King Edward Hotel in Toronto.
Stillwater's President and CEO Michael Rowley will be presenting on February 26th at 2:40pm Eastern Standard Time in the Sovereign Room, providing an update on the Company's strategy, recent developments, and next-phase catalysts at its flagship Stillwater West Ni-PGE-Cu-Co + Au critical minerals project in Montana, USA.
For more information and/or to register for the conference, please visit: redcloudfs.com/prepdac2026/.
We look forward to seeing you there.
Upcoming Events
Michael Rowley, President and CEO of Stillwater, is scheduled to attend the following events. Additional events will be announced as confirmed.
About Stillwater Critical Minerals Corp.
Stillwater Critical Minerals (TSXV: PGE) (OTCQB: PGEZF) (FSE: J0G) is a mineral exploration and development company focused on its flagship Stillwater West Ni-PGE-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the addition of two renowned Bushveld and Platreef geologists to the team and strategic investments by Glencore plc, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group, nickel, and other metals by neighboring Sibanye-Stillwater. An expanded NI 43-101 mineral resource estimate, released January 2023, positions Stillwater West with the largest nickel resource in an active U.S. mining district as part of a compelling suite of ten minerals now listed as critical in the USA.
Stillwater also holds a 49% interest in the high-grade Drayton-Black Lake-gold project adjacent to Nexgold Mining's development-stage Goliath Gold Complex in northwest Ontario, currently under an earn-in agreement with Heritage Mining, and the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum's Wellgreen deposit in Canada's Yukon Territory. The Company also holds the Duke Island Cu-Ni-PGE property in Alaska and maintains a back-in right on the high-grade past-producing Yankee-Dundee in BC, following its sale in 2013.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Michael Rowley, President, CEO & Director – Stillwater Critical Minerals
Email: info@criticalminerals.com Phone: (604) 357 4790Web: http://criticalminerals.com Toll Free: (888) 432 0075
Forward-Looking Statements
This news release includes certain statements that may be deemed "forward-looking statements". In particular, this press release contains forward-looking information relating to, among other things, the Offering, the anticipated closing date of the Offering, the intended use of proceeds of the Offering, approval of the TSXV and the filing of the Amended Offering Document. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Stillwater Critical Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Stillwater Critical Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedarplus.ca.
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 release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285029
Sydney, Australia–(Newsfile Corp. – February 24, 2026) – Visit Venari Minerals NL (ASX: VMS) at Booth #3150 at the Prospectors & Developers Association of Canada’s (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 1 to Wednesday, March 4, 2026.
About Venari Minerals NL
Venari Minerals is a Nevada-focused explorer advancing America's newest high-grade sedimentary lithium discovery.
About PDAC
The World’s Premier Mineral Exploration & Mining Convention is the leading convention for people, governments, companies and organizations connected to mineral exploration. In addition to meeting more than 1,100 exhibitors, 2,500 investors and 26,000 attendees in person in 2024, participants could also attend programming, courses and networking events.
The annual convention is held in Toronto, Canada. It has grown in size, stature and influence since it began in 1932 and today is the event of choice for the world’s mineral industry.
For more information and/or to register for the conference please visit: https://www.pdac.ca/convention.
We look forward to seeing you there.
For further information:
Venari Minerals NLMatthew Healy+61431683952matt@venariminerals.comhttps://venariminerals.com/
Copper has morphed from a cyclical industrial metal into the backbone of a structural super theme, with prices recently hovering near record territory after jumping more than 40% in 2025 and staying above roughly $13,000 per metric ton on London futures early this year.
To this end, the S&P Global projects global copper demand to surge 50% by 2040, jumping to an estimated 42 million metric tons (as cited in a Forbes report).
Such a robust demand, combined with constrained mine growth, is causing a structural supply deficit, underpinning spot prices and strengthening the long-term outlook for copper. For investors seeking to position themselves for this multi-decade theme without being exposed to single-stock-specific risks, targeted copper exchange-traded funds (ETFs) provide a straightforward way to gain diversified exposure to the red metal’s upside.
Before adding such ETFs to your portfolio, it is important to understand the specific catalysts behind this “Copper Crunch” and why a basket approach may be a prudent strategy. Doing so will help you make a more informed investment decision.
What’s Driving Copper Demand?
The primary engine driving this demand is undoubtedly the global energy transition. Copper is the metal of electrification, with everything from electric vehicles (EVs) to solar farms requiring it in vast quantities.
For example, S&P Global Vice Chairman Daniel Yergin highlighted in a recent interview with CNBC Television that an electric car uses significantly more copper (roughly 2.9% more) than a conventional internal combustion engine vehicle.
The second most important catalyst reshaping the demand pool for Copper is the humongous demand for electricity generated from the skyrocketing number of artificial intelligence (AI) models being built. AI-driven data centers require immense amounts of power, and that power must be transmitted and managed using extensive copper-intensive electrical infrastructure.
This dual demand from electrification and AI is creating a powerful tailwind for demand, reinforcing copper's critical role in the modern economy as well as reshaping the mining industry's hierarchy. Evidently, BHP Group BHP, one of the world’s largest mining companies, recently reported that copper has officially displaced iron ore as its primary profit driver, accounting for 51% of its total underlying earnings in its latest half-year results.
Other pure-play copper miners like Freeport McMoRan FCX and Southern Copper SCCO have also witnessed a strong rally in their share prices lately, reflecting Wall Street’s favorable reaction to rising copper prices.
Why ETFs & Not Individual Miners?
Considering the aforementioned discussion, investing directly in a copper miner can be lucrative, but it comes with company-specific risks. For instance, a miner might face a sudden regulatory hurdle in a key jurisdiction, a labor strike at a primary mine, or significant cost overruns on a new expansion project—all of which can hammer the stock price even if copper prices remain strong. Thus, a single operational setback can wipe out an investor's gains.
A copper ETF effectively sidesteps this "single-stock risk." By holding a diversified basket of miners — from global giants to smaller developers — and potentially copper futures contracts, the ETF helps smooth out volatility caused by issues at any single company.
Copper ETFs to Consider
For investors looking to capitalize on the anticipated demand surge of copper, here are a few ETFs to consider:
Global X Copper Miners ETF COPX
This fund, with assets worth $7.49 billion, provides exposure to 41 copper mining companies. Its top three holdings include Lundin Mining LUNMF (6.11%), Sumitomo Metal Mining SMMYY (5.73%), and Boliden AB (5.43%).
COPX has surged a solid 24.1% year to date. The fund charges 65 basis points (bps) as fees. It traded at a good volume of 3.99 million shares in the last trading session.
iShares Copper and Metals Mining ETF ICOP
This fund, with net assets worth $455.7 million, provides exposure to 47 global copper and metal ore miners. Its top three holdings include FCX (8.42%), BHP (7.91%) and Anglo American NGLOY (7.90%).
ICOP has soared 22.3% year to date. The fund charges 47 bps as fees. It traded at a volume of 0.16 million shares in the last trading session.
United States Copper ETF (CPER
This fund, with net assets worth $875.5 million, reflects the performance of the investment returns from a portfolio of copper futures contracts on the COMEX exchange. CPER has gained 3.4% year to date.
The fund charges 106 bps as fees. It traded at a volume of 0.59 million shares in the last trading session.
Sprott Copper Miners ETF COPP
This fund, with net assets worth $288.8 million, provides exposure to physical copper and 63 copper miners. Its top three holdings include FCX (25.70%), Teck Resources TECK (9.90%) and Antofagasta plc (9.40%).
COPP has rallied 19.3% year to date. The fund charges 65 bps as fees. It traded at a volume of 0.31 million shares in the last trading session.
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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
Global X Copper Miners ETF (COPX): ETF Research Reports
Lundin Mining Corp. (LUNMF) : Free Stock Analysis Report
Teck Resources Ltd (TECK) : Free Stock Analysis Report
Anglo American (NGLOY) : Free Stock Analysis Report
iShares Copper and Metals Mining ETF (ICOP): ETF Research Reports
Sprott Copper Miners ETF (COPP): ETF Research Reports
Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (SMMYY) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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- BHP Group has agreed to sell its San Manuel copper property in Arizona to Faraday Copper.
- As part of the transaction, BHP will receive a 30% equity stake in Faraday Copper.
- The deal positions both companies to work toward a potential restart of copper production at San Manuel.
- The transaction supports efforts to strengthen U.S. copper supply chain resilience.
BHP Group (ASX:BHP), trading at A$54.02, is adding another piece to its copper presence in North America through this San Manuel deal. The company gains an ownership interest in Faraday Copper while consolidating copper assets in Arizona. For investors, this move comes after a period of recent share price appreciation, with the stock up 7.3% over the past week and 18.1% year to date.
Looking ahead, the San Manuel property provides BHP with exposure to a possible future production site in the U.S. without directly operating the asset at this time. The collaboration with Faraday Copper may create potential for infrastructure and environmental efficiencies and could support regional economic activity if redevelopment proceeds.
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 Feb 2026
3 things going right for BHP Group that this headline doesn't cover.
This San Manuel deal fits into a wider copper-focused push at BHP. Recent guidance points to copper production of 1.0 to 1.1 million tonnes in FY 2027, with an additional 400,000 tonnes of incremental production targeted over 2027 to 2031. Rather than pursuing every project on its own balance sheet, BHP is using a partner-operator model here, trading ownership of the property for a 30% stake in Faraday and rights to support future equity raises up to US$20 million. That gives BHP exposure to a potential U.S. copper hub with road, rail, gas and power access, while Faraday focuses on project execution at San Manuel and Copper Creek. For you as an investor, this sits alongside other copper-linked moves, such as the US$4.3b silver stream on Antamina, where BHP has retained full exposure to core copper output. Together, these transactions show BHP tying its portfolio more tightly to copper, while using partnerships to share capital and operational risk with smaller counterparties.
How This Fits Into The BHP Group Narrative
- The San Manuel and Faraday agreement lines up with the narrative focus on copper growth projects and long-life assets in large resource districts.
- Relying on a partner to advance a key U.S. project introduces project execution and permitting risk that sits outside BHP’s direct operational control, which could test the narrative’s emphasis on cost leadership and disciplined delivery.
- The potential creation of a U.S. copper hub with consolidated infrastructure and streaming-style deals like Antamina may not be fully reflected in earlier commentary that focused mainly on iron ore, Jansen and existing copper operations.
Knowing what a company is worth starts with understanding its story.
Check out one of the top narratives in the Simply Wall St Community for BHP Group to help decide what it's worth to you.
The Risks and Rewards Investors Should Consider
- ⚠️ The San Manuel transaction is based on a non binding agreement and still depends on shareholder and regulatory approvals, so there is a risk the deal timeline slips or terms change.
- ⚠️ Concentration in copper and exposure to project partners in Arizona and Peru add another layer of operational and permitting risk alongside existing exposure to iron ore and large projects like Jansen.
- 🎁 The equity stake in Faraday gives BHP upside if a consolidated Copper Creek and San Manuel district proves successful, without committing all the development capital itself.
- 🎁 Recent results showing US$27,902 million of sales and US$5,640 million of net income, together with increased copper guidance and new streaming deals, indicate BHP is using its balance sheet and cash flow to reshape the portfolio around higher priority commodities.
What To Watch Going Forward
You may want to watch how quickly the non binding letter of intent with Faraday Copper moves to a definitive agreement, and whether closing by the end of Q3 2026 remains on track. Progress on technical studies and permitting at San Manuel and Copper Creek will be important to see if a restart is realistic. It is also worth tracking how this Arizona hub concept fits alongside BHP’s wider copper targets for FY 2027 and beyond, and how management allocates capital across other options in Chile, Peru and future deals competing for funding with Rio Tinto, Glencore and Teck Resources. Finally, monitor future commentary around U.S. copper supply chain resilience, as that policy backdrop could influence timelines and the eventual shape of the project.
To ensure you're always in the loop on how the latest news impacts the investment narrative for BHP Group, head to the
community page for BHP Group to never miss an update on the top community narratives.
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.
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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC / ACCESS Newswire / February 23, 2026 / Faraday Copper Corp. ("Faraday" or the "Company") (TSX:FDY)(OTCQX:CPPKF) is pleased to announce a non-brokered private placement financing for aggregate gross proceeds of up to C$100,002,000 (the "Offering") from strategic and other investors, including Lundin Family Trusts (as defined below) and a wholly owned subsidiary of BHP Group Limited ("BHP"). The Company intends to use the net proceeds from the Offering primarily for the ongoing advancement of copper projects in Pinal County, Arizona, including transaction expenses in connection with the planned acquisition and integration of the San Manuel property from BHP (see news release dated February 20, 2026).
Under the terms of the Offering, the Company intends to issue up to 23,810,000 common shares (the "Common Shares") at a price of C$4.20 per Common Share for aggregate gross proceeds of C$100,002,000.
The Private Placement is scheduled to close on or about March 11, 2026, and will be subject to regulatory approval, including the approval of the Toronto Stock Exchange (the "TSX") and other customary closing conditions for a transaction of this nature including, but not limited to, execution of subscription agreements between the Company and the subscribers.
The Common Shares will be issued on a private placement basis pursuant to exemptions from prospectus requirements under applicable securities laws and will be subject to a statutory hold period of four months and one day from the date of issuance.
Trusts settled by the late Adolf H. Lundin (the "Lundin Family Trusts") have indicated their intention to participate in the Offering. Any such participation would be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"), as a private entity controlled by the Lundin Family Trusts is currently the Company's largest shareholder. The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any Common Shares issued to or the consideration paid by such persons will exceed 25% of the Company's market capitalization.
The securities offered in the Offering have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Faraday Copper
Faraday Copper is an exploration company focused on advancing its flagship copper project in Arizona, U.S. The Copper Creek Project is one of the largest undeveloped copper projects in North America with significant district scale exploration potential. Faraday is well-funded to deliver on its key milestones and benefits from a management team and board of directors with senior mining company experience and expertise. Faraday trades on the TSX under the symbol "FDY".
For additional information please contact:
Stacey Pavlova, CFAVice President, Investor Relations & CommunicationsFaraday Copper Corp.E-mail: info@faradaycopper.comWebsite: www.faradaycopper.com
To receive news releases by e-mail, please register using the Faraday website at www.faradaycopper.com.
Cautionary Note on Forward Looking Statements
Some of the statements in this news release, other than statements of historical fact, are "forward-looking statements" and are based on the opinions and estimates of management as of the date such statements are made and are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements of Faraday to be materially different from those expressed or implied by such forward- looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements concerning the quantum and the completion of the Offering, and the timing thereof; the anticipated use of net proceeds of the Offering; and the receipt of TSX and other regulatory approvals.
Although Faraday believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements should not be in any way construed as guarantees of future performance and actual results or developments may differ materially. Accordingly, readers should not place undue reliance on forward-looking statements or information.
Factors that could cause actual results to differ materially from those in forward-looking statements include without limitation: market prices for metals; the conclusions of detailed feasibility and technical analyses; lower than expected grades and quantities of mineral resources; receipt of regulatory approval; receipt of shareholder approval; mining rates and recovery rates; significant capital requirements; price volatility in the spot and forward markets for commodities; fluctuations in rates of exchange; taxation; controls, regulations and political or economic developments in the countries in which Faraday does or may carry on business; the speculative nature of mineral exploration and development, competition; loss of key employees; rising costs of labour, supplies, fuel and equipment; actual results of current exploration or reclamation activities; accidents; labour disputes; defective title to mineral claims or property or contests over claims to mineral properties; unexpected delays and costs inherent to consulting and accommodating rights of Indigenous peoples and other groups; risks, uncertainties and unanticipated delays associated with obtaining and maintaining necessary licenses, permits and authorizations and complying with permitting requirements, including those associated with the Copper Creek property; and uncertainties with respect to any future acquisitions by Faraday. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental events and hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and the risk of inadequate insurance or inability to obtain insurance to cover these risks as well as "Risk Factors" included in Faraday's disclosure documents filed on and available at www.sedarplus.ca.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such an offer or solicitation in such jurisdiction. This press release is not, and under no circumstances is to be construed as, a prospectus, an offering memorandum, an advertisement or a public offering of securities in Faraday in Canada, the United States or any other jurisdiction. No securities commission or similar authority in Canada or in the United States has reviewed or in any way passed upon this press release, and any representation to the contrary is an offence.
SOURCE: Faraday Copper Corp.
View the original press release on ACCESS Newswire
Halifax, Nova Scotia–(Newsfile Corp. – February 23, 2026) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to comment on recent price increases for a number of rare earth elements, in addition to the significant bifurcation of pricing inside of China versus outside of pricing.
On April 4, 2025, China imposed export controls on seven heavy rare earth elements— including dysprosium, terbium, samarium and gadolinium- with related oxides, metals, and permanent magnets. These restrictions, aimed at strengthening oversight of critical, dual-use materials, require exporters to obtain licenses, impacting global supply chains in electronics, defense, and EV industries and remain in place today.
As a result, dysprosium oxide prices in China recently increased to over $200 per kg, with ex-China pricing more than 5 times that, at $1,000/kg. Terbium oxide has increased to $900/kg in China, with prices over $4,500 per kg outside of China. The significant price discrepancies for rare earths inside China versus the rest of the world are most pronounced for these heavy rare earths, reflecting the lack of supply of these critical materials.
With respect to light rare earth oxides, praseodymium-Neodymium Oxide recently increased to the $120 per kg range in China and as high as $140 per kg in North America.
"These price differentials, particularly for the heavy rare earth elements, on which the US Department of War (DoW) has funded Ucore to focus, underscore the importance of the developing North American supply chain," said Pat Ryan, Chairman and CEO of Ucore. "While markets remain dynamic, the emergence of premium pricing for secure, Western-aligned supply supports the long-term fundamentals underlying our commercial strategy. Capturing the margin upside with a first mover refining strategy centered on the Louisiana SMC at this early stage, is a smart approach."
Ucore is advancing its RapidSX™ separation technology platform and planned commercial processing facilities in North America with a focus on both heavy (Terbium and Dysprosium) and light (Praseodymium-Neodymium) rare earths, as well as Samarium and Gadolinium, for with there is currently negligible supply outside of China. The Company's strategy targets the midstream processing and refining segment of the rare earth supply chain — a critical stage that has historically been concentrated in China.
TSX-Venture 50
The Company is further pleased to announce that it has been ranked second overall on the 2026 TSX Venture 50, the TSX Venture Exchange's annual ranking of the top-performing companies listed on the Exchange.
The TSX Venture 50 recognizes the top 50 TSXV-listed companies based on three equally weighted performance metrics over the previous year: (i) one-year share price appreciation, (ii) market capitalization growth, and (iii) Canadian consolidated trading value. Ucore's second-place ranking was supported by a 1,109% increase in market capitalization, reflecting heightened investor recognition of the Company's progress in advancing rare earth separation and refining capacity in North America.
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1119/284886_e44468d684b57958_001full.jpg
OTCQX Best 50
The OTCQX recently announced that Ucore ranked number 1 on its list of 50 top performing companies on the OTCQX Best Market based on 2025 total return and average daily dollar volume growth. Ucore's ranking on these platforms, supported by significantly increased trading activity and market capitalization growth, reflects enhanced liquidity that improves access, price discovery, and flexibility for our shareholders.
# # #
About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term development of a heavy and light rare-earth processing facility in the US State of Louisiana, subsequent SMCs in Canada and Alaska and the longer-term development of Ucore's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA ("Bokan").
Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."
For further information, please visit www.ucore.com.
Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements." All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results, and actual results or developments may differ materially from those in forward-looking statements.
Regarding the disclosure in the press release above about government support for Ucore, the Company has assumed that the applicable projects (including each of the associated milestones) will be completed satisfactorily and in accordance with the respective agreements or letters of intent (as applicable) for such government support. For additional risks and uncertainties regarding the Company, its business activities, its ability to qualify for and receive any additional funding from any U.S. or Canadian government, the CDF and the aforementioned projects (generally), see the risk disclosure in the Company's MD&A for Q3-2025 (filed on SEDAR+ on November 25, 2025) (www.sedarplus.ca) as well as the risks described below.
Regarding the disclosure above in the "About Ucore Rare Metals Inc." section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future SMCs. Ucore has also assumed that sufficient external funding will be found to continue and complete the ongoing research and development work required at the CDF and also later prepare a new National Instrument 43-101 technical report that demonstrates that Bokan is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction and eventual commissioning and operations. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority (AIDEA) regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.
Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.
CONTACTS
Mr. Michael Schrider, P.E., Ucore Vice President and Chief Operating Officer, is responsible for the content of this news release and may be contacted at 1.902.482.5214.
For additional information, please contact:
Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284886
VANCOUVER, BC / ACCESS Newswire / February 23, 2026 / Apex Critical Metals Corp. ("Apex" or the "Company") (CSE:APXC)(OTCQX:APXCF)(FWB:KL9) is pleased to announce that it has been accepted into the U.S. Defense Industrial Base Consortium ("DIBC"), a U.S. Department of Defense-supported initiative focused on accelerating collaboration between industry, academia, and government to advance technologies and supply chains critical to U.S. national security.
The DIBC supports the development and security of strategic and critical material supply chains, including rare earth elements ("REEs"), niobium, and other materials essential to advanced manufacturing, aerospace systems, energy transition technologies, and defense applications.
Apex's portfolio of North American critical mineral projects – including the Company's U.S.-based Rift Rare Earth Project in Nebraska and its Cap Project in British Columbia – are aligned with U.S. and allied government priorities focused on securing domestic and allied sources of critical minerals used in permanent magnets, advanced alloys, superconducting technologies, and defense systems.
As a member of the DIBC, Apex joins a network of traditional and non-traditional defense contractors, technology developers, research institutions, and federal agencies working to accelerate innovation and strengthen supply chain resilience. Membership provides opportunities to participate in federally sponsored initiatives and collaborative programs related to critical mineral exploration, processing, and downstream supply chain development.
"Apex's acceptance into the DIBC reflects the growing strategic importance of secure North American supply chains for rare earth elements and other critical minerals," said Sean Charland, President and CEO of Apex Critical Metals. "With increasing global focus on defense readiness, advanced manufacturing, and electrification, we believe Apex is well positioned to support U.S. and allied supply chain security initiatives through the advancement of our critical mineral projects."
For more information on the DIBC initiative: https://www.dibconsortium.org/
About Apex Critical Metals Corp. (CSE:APXC) (OTCQX:APXCF) (FWB:KL9)
Apex Critical Metals Corp. is a Canadian exploration company focused on advancing rare earth element (REE) and niobium projects that support the growing demand for critical and strategic metals across the United States and Canada. The Company's flagship Rift Project, located within the highly prospective Elk Creek Carbonatite Complex in Nebraska, U.S.A., hosts extensive rare earth rights surrounding one of North America's most advanced niobium-REE deposits. Historical drilling across the complex has reported broad intervals of high-grade REE mineralization, including intercepts such as 155.5 m of 2.70% REO and 68.2 m of 3.32% REO.
In Canada, Apex continues to advance its 100%-owned Cap Project, located 85 kilometres northeast of Prince George, British Columbia. The 2025 drill program confirmed a significant niobium discovery with 0.59% Nb₂O₅ over 36 metres, including 1.08% Nb₂O₅ over 10 metres, within a 1.8-kilometre-long niobium trend. The Cap Project continues to demonstrate strong potential for niobium mineralization within a large and previously unrecognized carbonatite system.
With a growing portfolio of critical mineral projects in both Canada and the United States, Apex Critical Metals is strategically positioned to help strengthen domestic supply chains for the minerals essential to advanced technologies, clean energy, and national security. Apex is publicly listed in Canada on the Canadian Securities Exchange (CSE) under the symbol APXC and quoted on the OTCQX market in the United States under the symbol APXCF, and in Germany on the Borse Frankfurt under the symbol KL9 and/or WKN: A40CCQ. Find out more at www.apexcriticalmetals.com and watch our videos at https://apexcriticalmetals.com/apex-critical-metals-corporate-video/ and make sure to stay in touch by signing up for free news alerts at https://apexcriticalmetals.com/news/news-alerts/, or by following us on X (formerly Twitter), Facebook or LinkedIn.
On Behalf of the Board of Directors
APEX CRITICAL METALS CORP.,
Sean CharlandChief Executive OfficerTel: 604.681.1568Email: info@apexcriticalmetals.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release may contain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include (without limitation) statements regarding the Company's Canadian and US-based prospective assets (more particularly described above), including the potential for additional acquisitions. Forward-looking statements are subject to various known and unknown risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. Risks that could change or prevent these events, activities or developments from coming to fruition include: the Company's properties are at an early stage of development and no current mineral resources or reserves have been identified by the Company thereof, that we may not be able to fully finance any additional exploration on the Company's properties; that even if we are able to raise capital, costs for exploration activities may increase such that we may not have sufficient funds to pay for such exploration or processing activities; the timing and content of any future work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumptions based on limited test work and by comparison to what are considered analogous deposits that, with further test work, may not be comparable; testing of our process may not prove successful or samples derived from our properties may not yield positive results, and even if such tests are successful or initial sample results are positive, the economic and other outcomes may not be as expected; the anticipated market demand for REE and other minerals may not be as expected; the availability of labour and equipment to undertake future exploration work and testing activities; geopolitical risks which may result in market and economic instability. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements herein are made as of the date hereof, and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Apex Critical Metals Corp.
View the original press release on ACCESS Newswire
This article first appeared on GuruFocus.
Anglo American (NGLOY) has taken another step deeper into the diamond downturn, booking a further $2.3 billion impairment on De Beers as one of the industry's most prolonged crises continues to weigh on performance. The latest charge marks the third writedown in two years, bringing total impairments on the unit to $6.8 billion and reducing its carrying value to $2.3 billion. De Beers reported a $511 million underlying loss, reflecting pressure from weaker Chinese luxury demand and the rising popularity of synthetic stones. The strain has been compounded by US tariffs on India the world's largest diamond exporter after President Donald Trump imposed 50% levies in August, though he has said a rollback could be in place by April. Chief Executive Officer Duncan Wanblad said on a call with reporters that he hopes this represents a low point.
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Against that backdrop, Anglo's core operations delivered a steadier performance. Underlying earnings from continuing operations rose 2% to $6.4 billion, supported by stronger copper and iron ore results, while the company cut its final dividend by 27% from the same period last year. Net debt declined to $8.6 billion. The restructuring plan first unveiled in 2024 to fend off an approach from BHP Group (NYSE:BHP) remains central to the equity story, with Anglo moving to exit diamonds, coal and platinum and reposition itself around copper. It has already spun off its South African platinum assets, though the divestments of De Beers and its coal business are still in progress. Wanblad said the company expects final bids for the coal unit in the second quarter and remains optimistic that a deal to sell De Beers could be reached this year.
Investor focus, however, appears anchored on copper and the agreed acquisition of Teck Resources Ltd. (NYSE:TECK), a transaction that would establish Anglo as one of the world's largest copper producers. The deal would add Teck's portfolio of copper mines, including the Quebrada Blanca mine in northern Chile, which neighbors Anglo's Collahuasi project. Shareholders of both companies have approved the transaction, and Anglo is working through regulatory approvals, with no positive or negative indications from China and an expected conclusion between September and March, Wanblad told Bloomberg TV. The company's shares have rallied more than 50% over the past year as copper prices surged to record highs. Anglo also announced an investment agreement with Mitsubishi Corporation that could lead to the Japanese firm taking a 25% stake in the Woodsmith fertilizer project, potentially supporting its future development as the portfolio reshaping continues.
This article first appeared on GuruFocus.
- EBITDA: $6.4 billion from continuing operations.
- Underlying Earnings: $1.6 billion for the simplified portfolio.
- EBITDA Margin: 44% for the simplified business focused on copper and premium iron ore.
- Cost Savings: $1.8 billion cost out program achieved, with $1.6 billion realized in 2025.
- Net Debt: Reduced by $2 billion to $8.6 billion.
- Dividend: $0.23 per share, in line with a 40% payout policy.
- De Beers EBITDA: Negative $0.5 billion.
- Capital Expenditure: $3.3 billion for continuing operations, a 16% decrease.
- Free Cash Flow: $1.4 billion sustaining attributable free cash flow.
- Production Guidance: Copper business met its 2025 production guidance.
- Iron Ore Production: Expected to be down by 4 million tons during UHDMS tie-in at Khumba.
- Special Dividend: $4.5 billion payable to Anglo American shareholders upon merger completion.
- Warning! GuruFocus has detected 9 Warning Signs with AAUKF.
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Release Date: February 20, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Anglo American PLC (AAUKF) recorded its lowest ever total recordable injury frequency rate, indicating significant progress in safety measures.
- The company executed major portfolio changes, unlocking substantial value for shareholders and paving the way for strategic growth.
- Successful demerger of Volterra and the full sell-down of a 19.99% stake raised approximately $2.5 billion, aiding in balance sheet improvement.
- The merger with tech is expected to create a global critical minerals champion, positioning the company as a leading copper producer.
- Strong operational performance in the copper and iron ore businesses, with effective cost control and delivery on production guidance.
Negative Points
- Despite safety improvements, the company reported two workplace fatalities, highlighting ongoing safety challenges.
- De Beers reported a negative EBITDA of half a billion dollars, reflecting challenging market conditions and lower diamond prices.
- The company's effective tax rate for continuing operations was high at 52%, influenced by De Beers' performance.
- Copper unit costs are expected to increase due to stronger currencies and changes in production mix, impacting profitability.
- The company faces regulatory hurdles in completing the merger with tech, with approvals still pending from South Korea and China.
Q & A Highlights
Q: Can you provide an update on the timing and process for the Kolosi and QB projects, and the potential partnership with Glencore? A: Duncan Wanblad, CEO, explained that the key milestone for growth at Kolosi is the development of the fourth line by the end of 2027. The combined QB option is more attractive due to lower complexity and capital intensity. Discussions with Glencore are ongoing, and while no visits have been made since the due diligence, technical assistance has been provided to QB.
Q: What is the status of the Woodsmith feasibility study and the potential partnership with Mitsubishi? A: Duncan Wanblad, CEO, stated that the feasibility study is progressing well, with significant tunnel progress. Mitsubishi has an option for a 25% stake, and the focus is on understanding the ore body to develop a mining plan. The project is running as per the slowdown plan, with no final investment decision expected before 2028.
Q: How do you plan to manage De Beers' cash flow in a challenging market, and what is the strategy for its sale? A: Duncan Wanblad, CEO, noted that while working capital release helped in 2025, other cash preservation mechanisms are being explored for 2026. The divestment process involves strategic buyers who understand the diamond market, and the sale structure may include upfront and contingent payments based on market recovery.
Q: What are the potential regulatory hurdles for the Anglo tech merger, particularly with Chinese regulators? A: Duncan Wanblad, CEO, indicated that the regulatory process with China is proceeding as expected, with no unusual requests. The merger is anticipated to take 12 to 18 months, with no changes to this timeline currently expected.
Q: Can you elaborate on the potential for streaming or other financial optimizations within the portfolio? A: Duncan Wanblad, CEO, mentioned that while streaming opportunities are limited due to the lack of precious metals in their resources, the company continuously evaluates value-accretive opportunities within the portfolio, including infrastructure optimization.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Walmart (WMT)
Shares in Walmart (WMT) were flat in pre-market trading after the retailer reported stronger than expected fourth quarter sales, driven by resilient grocery demand and rapid online growth, as newly appointed chief executive John Furner began his tenure with a cautious outlook for the year ahead.
Revenue rose 5.6% to $190.7bn (£141.7bn) in the quarter ended in January, slightly ahead of analyst estimates, according to Reuters. US comparable sales increased 4.6%, above forecasts of about 4.2%, helped by a 27% rise in US online sales.
Global e-commerce sales climbed 24% year on year, as the company continued to attract higher income households with faster delivery options and an expanded third party marketplace.
For the full year, revenue reached a record $713.2bn. However, the Financial Times noted that the figure was surpassed for the first time by Amazon (AMZN), which reported annual revenue of $716.9bn.
Read more: FTSE 100 LIVE: Markets gain after positive retail sales data and record budget surplus
Walmart’s shares have more than doubled over the past two years, lifting its market capitalisation above $1tn, as it benefited from inflation weary consumers trading down and from investments in automation and AI.
Quarterly operating profit rose 10.8% to $8.7bn, slightly below analyst expectations of $8.9bn, while net income fell 19.4% to $4.2bn, reflecting changes in the fair value of certain investments.
The group’s dominance in groceries, which account for about 60% of US sales, continued to underpin performance.
Super Micro Computer (SMCI)
Shares in Super Micro Computer (SMCI) were the top trending ticker on Yahoo Finance on Friday morning after a strong quarterly earnings report and a series of analyst upgrades rekindled investor sentiment.
The San Jose-based provider of server and storage systems reported net revenue of $12.68bn and net profit of $400.56m for the quarter earlier this month, a performance that helped drive the latest rally in the shares.
Analysts moved the stock to a “strong buy” following the results, pointing to the company’s Data Center Building Block Solutions platform as a key driver of potential margin improvement and the principal rationale for owning the shares. The consensus rating on Wall Street for SMCI stands at “Moderate Buy”, with a mean price target of about $43, implying roughly 35% upside from current levels.
Read more: What crypto investors need to know about the UK's sandbox scheme
Options traders also increased activity, with a surge in call buying as the stock climbed back above its 50 day moving average, a closely watched technical threshold for momentum investors. Trading volume reached 42.1 million shares, about 47% above the three month average of 28.6 million.
Opendoor Technologies (OPEN)
For the three months to December, the company posted revenue of $736m, ahead of analysts’ estimates of $594.9m. Adjusted EBITDA came in at a loss of $43m, narrower than the consensus forecast of a $47.5m loss and ahead of company guidance for a loss “in the high $40m to mid $50m”.
Opendoor (OPEN) exceeded its own operating targets during the quarter. The number of homes purchased rose 46% quarter on quarter, compared with management’s goal of at least 35% growth. The 1,978 homes sold in the period were almost 20% above Wall Street’s expectations.
“This quarter demonstrates we are executing on that plan,” said chief executive Kaz Nejatian. “These results reflect structural improvements in how we operate with more accurate pricing, faster inventory turns, and disciplined selection.”
Looking ahead, the company said it expects a first quarter adjusted EBITDA loss “in the low to mid $30m,” an improvement on the anticipated $37.7m deficit. However, its revenue outlook disappointed investors, with management projecting a decline of about 10% quarter on quarter, compared with analysts’ expectations of a sharp increase.
Klarna (KLAR)
Shares in Klarna (KLAR) edged up 1% in pre-market trading after plunging 27% in the previous session, as the buy now pay later group reported a $273m net loss for 2025 and raised provisions for loans it expects customers will be unable to repay.
For the year to the end of December, the company swung to a net loss of $273m from a profit of $21m a year earlier, while total revenue increased to $3.5bn from $2.8bn.
In the fourth quarter, the Stockholm based group reported a net loss of $26m, compared with a profit of $40m in the same period last year. Revenue for the quarter rose 38% to $1.1bn, marking the company’s first billion dollar quarter and coming in above guidance. However, analysts had been expecting a fourth quarter loss closer to $10m.
Read more: UK records largest ever budget surplus in boost for Reeves ahead of spring forecast
The shares had already halved since the Swedish group secured a $15bn valuation in a New York listing in September. Thursday’s 27% fall to $13.85 extended the post IPO decline to almost 68% and reduced its market value to $5.3bn. The company said it had set aside $250m for credit losses in the fourth quarter, up almost 60% from the same period in 2024.
Klarna primarily offers interest free consumer loans for retail purchases, allowing customers to pay in several instalments.
Anglo American (AAL.L)
Shares in Anglo American (AAL.L) hovered around flat in London trading after the miner wrote down the value of its troubled De Beers unit by a further $2.3bn, weighing on annual earnings.
The mining group is seeking to sell De Beers amid weak demand from China and the rapid growth of synthetic diamonds. It reported impairments of $2.9bn in 2025 and $1.6bn the previous year in relation to the business.
Underlying group core earnings rose 2% to $6.4bn, as higher copper prices offset a 10% decline in production of the metal, reflecting lower grades and plant maintenance.
The final dividend was cut by 27% to 16 cents a share, bringing the total payout for the year to 23 cents a share, down 64%.
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Adam Vettese, market analyst for eToro, said: “Anglo American’s full year results tell a story of steady stabilisation for a miner in transition, showing gritty operational progress amid portfolio pruning, setting the stage for bigger ambitions via the advancing Teck (TECK) merger. Earnings from continuing operations edged up with EBITDA up 2%, powered by stellar 49% copper margins and 43% from premium iron ore, while nailing $1.8bn in cost savings and strong 107% cash conversion trimmed net debt to $8.6bn.
“That said, the group’s total earnings remain well below 2023 peaks after shedding coal and nickel, capex eats over $2.5bn in cash yearly, and fresh De Beers writedowns highlight past allocation missteps. These numbers now bridge to the Teck deal, post Canadian approval and shareholder backing, which will promise $800m synergies, a top-tier copper giant, and a Vancouver HQ to turbocharge growth.
“For investors, it’s a leveraged copper bet, though merger execution and commodity swings will decide the fate. Shares have opened positively this morning and could be primed for further upside if Teck seals smoothly in 12-18 months and copper rallies, although any China jitters could stall that.”
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Mining giant Anglo American has written down the value of its troubled De Beers diamond business by another 2.3 billion US dollars (£1.7 billion) amid a slump in demand for the precious gems.
The FTSE 100 firm reported net losses of 3.7 billion dollars (£2.8 billion) in 2025 due largely to the massive impairment charge on De Beers, which marked its third such write down in three years.
On an underlying basis, Anglo’s earnings edged 2% higher to 6.4 billion dollars (£4.8 billion).
Anglo has been trying to sell De Beers – in which it has an 85% stake – due to a lengthy downturn in the diamond market and amid the rise in synthetic lab-grown diamonds.
Anglo boss Duncan Wanblad said the firm is ‘progressing the separation of De Beers’ (PA)
Annual figures showed underlying losses at De Beers widened to 511 million dollars (£380 million) from 25 million dollars of losses (£19 million) in 2024 as it said “rough diamond trading conditions remained challenging”.
It cut its diamond production by 12% last year.
The latest write downs follow impairments of 2.9 billion dollars (£2.2 billion) and 1.6 billion dollars (£1.2 billion) in 2024 and 2023 respectively.
Chief executive Duncan Wanblad said in full-year results that the firm was “progressing the separation of De Beers”.
Anglo is preparing to merge with Canada’s Teck Resources in a mammoth 50 billion dollar (£37.2 billion) merger between the mining groups.
The deal will create one of the world’s largest copper producers, with the combined firm becoming Anglo Teck.
The deal received shareholder approval at the end of December and the firms are working to secure regulatory approval in different jurisdictions over the course of 2026.
FTSE 100 Live: London stocks recover as oil and gold climb on Iran tensions Proactive uses images sourced from Shutterstock
- FTSE 100 rises 60 points to 10,687
- Retail sales jump to 2-year high in January
- Asian markets mostly lower on Iran tensions
9.15am: More morning movers
Chemring Group (LSE:CHG) slipped 3.5% after a slower-than-expected start to the year, hit by production hiccups at its Tennessee plant. Despite this, the defence tech firm kept its full-year outlook unchanged, with a strong £1.364bn order book and new contracts, while CEO Michael Ord flagged solid growth potential from rising Nato and allied defence budgets. Read more
Diageo PLC (LSE:DGE) jumped 1.8% to 1,813p on reports that new CEO Dave Lewis is planning a major shake-up of the executive team, trimming layers of management. The former Tesco chief, nicknamed “Drastic Dave,” faces the challenge of reviving the spirits giant amid sluggish demand and US tariff headwinds. Read more
Anglo American PLC (LSE:AAL) shares edged up 1% to 3,612p after reporting a slight rise in 2025 underlying EBITDA to $6.4bn and $1.8bn in cost savings, with copper and iron ore outperforming De Beers. CEO Duncan Wanblad hailed strong operational delivery, while the miner gears up for its proposed Anglo Teck merger with Canada’s Teck Resources. Read more
BlackRock Smaller Companies Trust jumped 4% to 1,433p after announcing a merger with Throgmorton, creating a £780m growth-focused trust—the UK’s largest in the sector. Investors can choose cash or shares, overlapping portfolios will be co-managed, fees cut to the sector’s lowest, and a five-for-one share split aims to make the trust more accessible to smaller investors. Read more
8.30am: Good news for the Chancellor
The UK public sector started 2026 on a high note, recording a £30.4 billion surplus in January, well above last year’s £14.5 billion and ahead of economists’ expectations of £24 billion.
Strong tax receipts played a big role. Self-assessed Income and Capital Gains Tax brought in £46.4 billion, £10.5 billion more than January 2025, boosted in part by the usual January rush and fears of future tax hikes.
Borrowing for the financial year to January was £112.1 billion, down 11.5% from last year, while the public sector current budget showed a £40.9 billion surplus for the month.
Elliott Jordan-Doak, senior UK economist at Pantheon Macroeconomics, said: "Good news for the Chancellor, but the pressure to spend will intensify."
Indeed, much of the surplus came from lower-than-expected interest payments and underspending, while other areas of spending were higher than forecast. With the government already committing an extra £5 billion to cover council special educational needs and disabilities (SEND) deficits and signalling faster defence spending, January’s strong numbers may only offer temporary relief.
January’s figures are encouraging, but economists warn the real test for the public finances will come later in the year, as spending pressures and upcoming local elections put the government’s fiscal plans under the spotlight.
8.15am: Footsie off to a flying start
The FTSE 100 is off to a positive start, making up for some of yesterday's losses on the renewed US-Iran tensions. Shortly into the session, London's blue-chip index is up 29 points at 10,655.60, a gain of just over a quarter of a percent.
Leading the gainers are St James's Place PLC (LSE:STJ) and Burberry Group PLC (LSE:BRBY), with gains of 3.8% and 2.8% respectively. The Sage Group PLC (LSE:SGE) takes third place with a 1.7% rise.
Countering those gainers, SSE PLC (LSE:SSE) has shed 1.1% in early dealings, while BP PLC (LSE:BP.) is down 0.6% despite oil's gains.
Chemring Group (LSE:CHG) is down 4% after the defence and security technology company told shareholders its full-year outlook remains unchanged, despite a slower-than-expected start to the financial year caused by operational disruption at one of its US manufacturing sites.
7.45am: Retail sales perk up
Shoppers started the year in a confident mood, giving retailers a welcome lift.
The Office for National Statistics (ONS) said retail sales volumes jumped 1.8% in January 2026, the biggest monthly rise since May 2024. That follows a solid 0.4% increase in December, rounding off a positive start to the year.
Over the three months to January, sales nudged up 0.1% compared with the previous quarter. Volumes were 4.5% higher than a year ago and now sit level with their pre-pandemic position in February 2020.
The January bounce was driven by a pick-up in automotive fuel and firmer demand for non-food items. Commercial art galleries, computer and telecoms retailers and household goods stores all enjoyed stronger trade. That helped offset softer performances at supermarkets and department stores.
Online shopping also remained upbeat. Spending values rose 1.3% month-on-month and were up 14.7% year-on-year. Overall spending increased 1.6%. The share of sales made online dipped only slightly, from 28.3% to 28.2%, suggesting digital demand remains resilient even as shoppers return to the high street.
7.15am: FTSE set for brighter start
London’s blue-chip index is expected to claw back the majority of Thursday’s losses this morning. After retreating from recent record highs to close 59 points down at 10,627, futures suggest the FTSE 100 will open about 36 points higher.
Geopolitical tensions are back in focus amid reports that the US could be preparing for a strike on Iran. Brent crude is up 0.7% at $72.13 a barrel, a six-month high, while gold has added 0.6% to $5,026 an ounce as investors seek safety.
Wall Street weakened overnight, with the Dow Jones down 0.5% and the S&P 500 and Nasdaq both off 0.3%.
Asian markets are mostly softer this morning. Tokyo has fallen 1%, Hong Kong’s Hang Seng is down 0.6%, and Shanghai’s SSE Composite has dropped 1.3%.
South Korea’s Kospi is the outlier, rising 2.2% on strong demand for defence and shipbuilding stocks, hitting a fresh high.
In Australia, the ASX 200 closed only marginally lower.
Three key news stories unfolding as the UK stock market opens. Check out our companies reporting diary for upcoming results from FTSE 350 and selected international stocks.
1. Another big dividend cut from Anglo American as turnaround continues
Anglo American [LON:AAL] issued full year results this morning, with the company reporting a modest 5% uptick in revenues as the simplification process continues. Margins remained healthy at 49% for copper and 43% for iron ore but the losses reported last summer continue to mount and once again the dividend has been pared back – although maybe slightly less aggressively than was seen in the interims. The transformation plans are said to be on track and the merger with Canada’s Teck continues in a bid to unlock better shareholder value.
2. Positive numbers from SEGRO as occupancy, rents tick higher
SEGRO [LON:SGRO] issued full year numbers this morning, headlining with £99m of new contracted rent commitments, a 6% uptick in like-for-like rental income and occupancy rates rose to 94.9%. Adjusted pre-tax profits added 8.3% whilst shareholders are set to benefit from a 6.1% increase in dividends.
3. Forensic audit team join SkinBioTherapeutics investigation
Another note from SkinBioTherapeutics [LON:SBTX] following the rapid departure of its CEO at the end of last week. This latest update announces that FRP Advisory have now been appointed to undertake an independent forensic review to clarify the accounting situation and enable publication of half year accounts. Clearly the business wants to get on top of this but the costs will now be mounting.
In case you missed it…
Today we take a look at AIM-listed Tooru which has raised £980k through a recent placing. Chief Executive, Scott Livingston sets out its next phase of growth and development.
Rio Tinto’s results yesterday showed resilience – and their high quality pipeline anchored to the copper price offers plenty of opportunity for growth.
We also take a look at the Scottish American Investment Company which has increased its dividend for the 52nd consecutive year.
Next week’s earnings include Nvidia, Rolls-Royce and IAG.
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Rio Tinto Group RIO reported strong growth in iron ore production and shipments in the fourth quarter of 2025. During the quarter, Pilbara iron ore shipments reached 91.3 million tons, increasing 7% from the year-ago-quarter figure. The company’s Pilbara iron ore production stood at 89.7 million tons (up 4% year over year), reflecting robust output despite weather-related disruptions earlier in 2025.The robust performance was primarily supported by Rio Tinto’s Pilbara operations in Western Australia. The Gudai-Darri project continued its strong performance in the fourth quarter, after achieving a record 51 million tonnes per annum (Mtpa) run rate in the previous quarter. The successful rollout of the new Pilbara Blend product strategy also contributed to improved product mix, with lower SP10 volumes as planned.Also, the company is poised to benefit from several of its major growth projects. In December 2025, RIO’s Rhodes Ridge joint venture approved a $191 million feasibility study to develop one of the world’s major undeveloped iron ore deposits in Western Australia, aiming for an initial annual production of 40-50 million tons. The study is likely to conclude in 2029. In October 2025, at the Simandou iron ore project based in Guinea, the first ore was loaded and transported. It marked the start of commissioning across the mine, rail and port infrastructure.The company’s strong performance at the Gudai-Darri facility, supported by record output and improved system efficiency, highlights Rio Tinto’s operational strength in iron ore. Its major pipeline of projects, including the likes of Rhodes Ridge and Simandou, is advancing steadily, positioning the company well for long-term growth.
Snapshot of RIO’s Peers
Among its major peers, Vale S.A.’s VALE iron ore sales totaled 84.9 metric tons (Mt) in the fourth quarter of 2025, which marked 5% growth from last year’s comparable quarter. Vale’s iron ore production was up 6% to 90.4 Mt from the year-ago quarter. Vale’s average realized iron ore fines price increased 1.1% quarter over quarter to $95.40 per ton.Its other peer, BHP Group Limited BHP, produced a record 263 Mt of iron ore in fiscal 2025. This came within BHP Group’s guidance of 255-265.5 Mt and was up 1% year over year. Production at BHP Group’s Western Australia Iron Ore was a record of 257 Mt (290 Mt on a 100% basis).
RIO's Price Performance, Valuation and Estimates
Shares of Rio Tinto have gained 57.2% in the past six months compared with the industry’s growth of 42.4%.
Image Source: Zacks Investment Research
From a valuation standpoint, RIO is trading at a forward price-to-earnings ratio of 11.88X, below the industry’s average of 16.00X. Rio Tinto carries a Value Score of B.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for RIO’s 2026 earnings has increased 12.3% 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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Teck Resources reports strong Q4 earnings, advances Anglo American merger Proactive uses images sourced from Shutterstock
Teck Resources Ltd (TSX:TECK.B) reported stronger fourth quarter results for 2025, highlighted by an earnings beat, solid cash generation and continued progress on its proposed merger with Anglo American PLC (LSE:AAL).
The Vancouver-based miner posted adjusted earnings of C$1.37 per share for the quarter, ahead of consensus estimates.
Revenue was approximately C$2.79 billion in the fourth quarter, supported by higher copper prices and improved by-product revenue.
Teck’s copper business remained the primary earnings driver. The segment generated gross profit before depreciation and amortization of C$1.1 billion in the quarter, up from C$732 million a year earlier, reflecting higher copper prices and lower smelter processing charges. Copper prices averaged US$5.03 per pound during the quarter and ended the year at US$5.67 per pound. Gross profit from the copper business was C$747 million.
“Teck closed out 2025 with strong momentum, delivering robust Q4 financial performance underpinned by significantly higher copper prices and operating performance in line with plan,” CEO and president Jonathan Price said in a statement. He added that the company continued to make progress on the ramp-up at Quebrada Blanca, including improvements in production and tailings management facility development.
Teck also said the proposed merger of equals with Anglo American to form Anglo Teck advanced during the quarter. Shareholders of both companies approved the transaction on December 9 and the Government of Canada granted approval under the Investment Canada Act on December 15.
The transaction remains subject to customary closing conditions, including additional regulatory approvals in multiple jurisdictions. Teck said both parties continue to work toward securing the remaining approvals and advancing the deal to completion.
Following the report, Teck’s US-listed shares were down 1.4% at about $58, while its Canadian-listed shares were down 1.6% at about $80.
Teck Resources Ltd. reported its fourth-quarter profit and revenue rose compared with a year ago as it works to close its merger with Anglo American.
"We are working collaboratively with Anglo to secure the remaining approvals required to complete the transaction, including China and South Korea," said chief executive Jonathan Price on an earnings call Thursday.
He said the expectation is still that the deal, announced last September, will take 12 to 18 months to close, but preparations are already underway for when it does.
"While we can't start working as a combined team until closing, integration planning work is well underway to ensure day one readiness and a rapid transition following the closing," said Price.
His comments came as the miner reported a profit attributable to shareholders of $544 million or $1.11 per diluted share for the quarter ended Dec. 31, up from $399 million or 78 cents per diluted share a year earlier.
Revenue totalled $3.06 billion, up from $2.79 billion in the fourth quarter of 2024.
On an adjusted basis, Teck says its profit from continuing operations amounted to $1.37 per diluted share, up from 45 cents per diluted share a year earlier.
Analysts had on average expected earnings of 99 cents per share, according to data compiled by LSEG Data & Analytics.
National Bank analyst Shane Nagle said in a note that the results were better than expected on lower expenses and strong by-product credits, while he's also modelling for lower costs ahead as confidence increases in Teck's turnaround at its troubled Quebrada Blanca site.
Price said the company continued to make meaningful progress on a ramp‑up at the mine, with improving production and tailings management facility development.
He said the expected acceleration in production comes as copper markets are showing high demand with prices reaching record highs in the fourth quarter, averaging more than US$5 per pound for the first time.
"Looking longer term, the outlook for copper market fundamentals remain very strong. We see copper as key to global electrification and the shift toward a clean energy future."
Teck's deal with Anglo American has received shareholder approval and cleared its Investment Canada Act review by Ottawa.
This report by The Canadian Press was first published Feb. 19, 2026.
Companies in this story: (TSX:TECK.B)
Ian Bickis, The Canadian Press
TORONTO, Feb. 19, 2026 (GLOBE NEWSWIRE) — Wallbridge Mining Company Limited (TSX: WM, OTCQB: WLBMF) (“Wallbridge” or the “Company”) announces its participation at the BMO Global Metals, Mining & Critical Minerals Conference in Hollywood, Florida February 22-25, 2026.
Brian Penny, Wallbridge CEO, will present at the conference on Wednesday, February 25, 2026, at 1:15 PM Eastern Time. Presentation materials, and a webcast of Mr. Penny’s presentation will be made available on the Company’s website.
The BMO Global Metals, Mining & Critical Minerals Conference is an invitation-only investment conference, now in its 35th year. The conference convenes global leaders to explore key macroeconomic trends, capital markets developments, and commodity outlooks. The event features company presentations, thematic panel discussions, and one-on-one investor meetings.
About Wallbridge Mining
Wallbridge is focused on creating value through the exploration and sustainable development of gold projects in Quebec’s Abitibi region while respecting the environment and communities where it operates. The Company holds a contiguous mineral property position totaling 598 square kilometres that extends approximately 82 kilometres along the Detour-Fenelon gold trend. The land position is host to the Company’s flagship PEA stage Fenelon Gold Project, and its earlier exploration stage Martiniere Gold Project, as well as numerous greenfield gold projects.
For further information please visit the Company’s website at https://wallbridgemining.com/ or contact:
| Wallbridge Mining Company Limited | |
| Brian Penny, CPA, CMAChief Executive OfficerEmail: bpenny@wallbridgemining.comM: +1 416 716 8346 | Tania Barreto, CPIRDirector, Investor RelationsEmail: tbarreto@wallbridgemining.comM: +1 416 289 3012 |
As the Australian market navigates a busy reporting season, bolstered by gains in tech stocks and fluctuating commodity prices, investors are keenly watching the ASX for signs of stability and growth. In this environment, identifying stocks with strong fundamentals becomes crucial, as they offer resilience amid economic shifts and sector-specific developments.
Top 10 Undiscovered Gems With Strong Fundamentals In Australia
| Name | Debt To Equity | Revenue Growth | Earnings Growth | Health Rating |
|---|---|---|---|---|
| Fiducian Group | NA | 9.85% | 10.78% | ★★★★★★ |
| Vita Life Sciences | NA | 12.38% | 8.02% | ★★★★★★ |
| Rand Mining | NA | 10.19% | 2.74% | ★★★★★★ |
| Euroz Hartleys Group | NA | 1.82% | -25.32% | ★★★★★★ |
| Joyce | NA | 9.93% | 17.54% | ★★★★★★ |
| Aims Property Securities Fund | NA | 57.13% | 60.22% | ★★★★★★ |
| Focus Minerals | NA | 75.35% | 51.34% | ★★★★★★ |
| AMCIL | NA | 2.99% | 1.18% | ★★★★★☆ |
| Zimplats Holdings | 5.44% | -9.79% | -42.03% | ★★★★★☆ |
| Australian United Investment | 6.80% | 2.27% | 1.31% | ★★★★☆☆ |
Underneath we present a selection of stocks filtered out by our screen.
Simply Wall St Value Rating: ★★★★★☆
Overview: Bell Financial Group Limited provides full service and online broking, corporate finance, and financial advisory services to a diverse client base across several countries, with a market cap of A$469.89 million.
Operations: Bell Financial Group generates revenue through full-service and online broking, corporate finance, and financial advisory services. The company’s operations span multiple countries, including Australia, the US, the UK, New Zealand, Hong Kong, and Kuala Lumpur.
Bell Financial Group, a relatively smaller player in Australia’s financial sector, recently reported A$299.18 million in revenue for 2025, up from A$276.38 million the previous year. Net income reached A$36.01 million compared to last year’s A$30.74 million, reflecting strong performance with basic earnings per share rising to A$0.113 from A$0.096. Despite an 11% annual decline over five years, last year’s earnings grew by 17%, outpacing industry averages of 6%. The debt-to-equity ratio improved significantly from 17% to 11% over five years, and its price-to-earnings ratio of 13x suggests it might be undervalued compared to the broader market at 21x.
- Get an in-depth perspective on Bell Financial Group’s performance by reading our health report here.
-
Explore historical data to track Bell Financial Group’s performance over time in our Past section.
ASX:BFG Earnings and Revenue Growth as at Feb 2026Peet
Simply Wall St Value Rating: ★★★★☆☆
Overview: Peet Limited is an Australian company that focuses on acquiring, developing, and marketing residential land, with a market capitalization of approximately A$973.77 million.
Operations: Peet generates revenue primarily through its Company Owned Projects, contributing A$313.24 million, followed by Funds Management at A$56.39 million and Joint Arrangements at A$51.88 million.
Peet, a notable player in the real estate sector, recently reported impressive half-year earnings with sales reaching A$222.94 million, up from A$174.19 million the previous year. Net income doubled to A$50.92 million, highlighting robust growth. The company’s earnings per share also saw a significant increase to A$0.1088 from A$0.0538 last year, reflecting strong performance and high-quality past earnings. Despite its high net debt to equity ratio of 45.8%, Peet’s interest payments are well covered by EBIT at 10.7 times coverage, indicating sound financial management amidst industry-leading growth rates of 60% over the past year.
- Click here to discover the nuances of Peet with our detailed analytical health report.
-
Evaluate Peet’s historical performance by accessing our past performance report.
ASX:PPC Earnings and Revenue Growth as at Feb 2026Servcorp
Simply Wall St Value Rating: ★★★★☆☆
Overview: Servcorp Limited offers executive serviced and virtual offices, coworking spaces, and IT, communications, and secretarial services across various regions including Australia, New Zealand, Southeast Asia, the United States, Europe, the Middle East, and North Asia with a market cap of A$770.42 million.
Operations: Servcorp generates revenue primarily from its executive serviced and virtual offices, coworking spaces, and IT services across multiple regions. The company has a market capitalization of A$770.42 million.
Servcorp, a nimble player in the flexible workspace arena, is capitalizing on global market expansion and IT infrastructure upgrades. The company’s recent half-year results show sales of A$185.15 million, up from A$167.26 million last year, with net income rising to A$39.16 million from A$34.55 million. Servcorp’s debt-free status and high-quality earnings provide a solid foundation for growth, though it faces challenges like high operational costs and competitive pressures in premium locations. With earnings projected to grow 12% annually over the next five years, Servcorp remains an intriguing prospect amid shifts towards hybrid work models.
ASX:SRV Earnings and Revenue Growth as at Feb 2026Where To Now?
- Take a closer look at our ASX Undiscovered Gems With Strong Fundamentals list of 65 companies by clicking here.
- Invested in any of these stocks? Simplify your portfolio management with Simply Wall St and stay ahead with our alerts for any critical updates on your stocks.
- Unlock the power of informed investing with Simply Wall St, your free guide to navigating stock markets worldwide.
Seeking Other Investments?
- Explore high-performing small cap companies that haven’t yet garnered significant analyst attention.
- Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
- Find companies with promising cash flow potential yet trading below their fair value.
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 ASX:BFG ASX:PPC and ASX:SRV.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
VANCOUVER, BC / ACCESS Newswire / February 18, 2026 / Lupaka Gold Corp. ("Lupaka" or the "Company") (TSXV:LPK)(FRA:LQP) advises as to current progress in pursing the proceeds of the ICSID Arbitration Award initially announced by the Company on July 2, 2025.
On December 31,2025, the Peru Ministry of Mining issued a supreme decree stating that the Ministry of Mines would be carrying out promotional activities at this year's Prospectors & Developers Association of Canada (PDAC) March 1-4, 2026 in Toronto, Canada in an effort to promote investment and foreign-funded development in Peru.
The Company wishes to remind the Republic of Peru and the Peru Ministry of Mines specifically that while they are promoting Peru as a good place to invest they are delinquent in their obligations regarding the Lupaka Gold Arbitration Award issued on June 30, 2025 by the ICSID Tribunal and the related Free Trade Agreement with Canada. It would be prudent for Peru to arrange for the payment of the Company's arbitration award prior to PDAC.
From a recent article in Bloomberg, the Chief Executive of one of Peru's largest banks stated "We continue to have cautious optimism, but we are even a little bit more upbeat because Peru's macroeconomic indicators are performing pretty well," Blomberg continued "Peru is one of Latin America's most stable economies-with low inflation and a strong currency-and a top exporter of copper and gold at a time of record-setting metal prices".
Gordon Ellis (CEO) commented "During this lengthy arbitration and award collection process, the price of gold has ascended from US1,500 to nearly US5,000 per ounce. From all accounts, Peru is financially strong and we see no reason why Peru cannot pay the Award amount immediately."
Award Background: In December 2019, the Company initiated an arbitration claim against the Republic of Peru under the Canada-Peru Free Trade Agreement. The related arbitration process was conducted through the International Centre for Settlement of Investment Disputes (ICSID) and continued until the ICSID Tribunal issued an Award in favour of the Company on June 30, 2025.
Subsequent to the Award date, Peru had 120 days in which to challenge the Award via a request for an annulment. The 120-day period passed on October 28, 2025, with no annulment being requested. Having no further recourse, the Republic of Peru must pay the Award amounts, otherwise risking serious impacts to its desired reputation as a welcoming mining jurisdiction that protects foreign investment.
As of January 31, 2026, accrued interest has brought the total Award to US$68.2 million.
For ongoing updates and more detail with respect to the Arbitration Award, please refer to the Company's website (www.lupakagold.com/projects/arbitration).
For background on the basis for the Claim, please refer to the Company's previous news releases, also available on the Company's website (www.lupakagold.com/news).
Lupaka was represented in the arbitration proceedings by the international law firm LALIVE (www.lalive.law), with the financial backing of Bench Walk Advisors (www.benchwalk.com). Both firms continue to be involved until the Award proceeds are received.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release.
About Lupaka Gold
Lupaka is a Canadian-based company focused on creating shareholder value through the identification and development of mining assets.
About LALIVE
LALIVE is an international law firm with offices in Geneva, Zurich and London, that specializes in international dispute resolution. The firm has extensive experience in international investment arbitration in the mining sector, amongst others, and is currently representing investors and States as counsel worldwide.
About Bench Walk Advisors
Bench Walk Advisors is a global litigation financier with over USD 250 million of capital deployed across in excess of 100 commercial cases. Bench Walk and its principals have consistently been ranked as leading lawyers and litigation funders in various global directories.
FOR FURTHER INFORMATION PLEASE CONTACT:
Gordon Ellis, C.E.O.gellis@lupakagold.com|Tel: (604) 985-3147
or visit the Company's profile at www.sedar.com or its website at www.lupakagold.com
SOURCE: Lupaka Gold Corp.
View the original press release on ACCESS Newswire
Bravo Mining (BRVO.V) said Wednesday that it has commenced its 2026 drilling and geophysics programs for the Luanga palladium-platinum-rhodium-gold-nickel deposit in Brazil.
The company said it plans to complete 28,000 meters of drilling, comprising three rigs executing 22,000 m of infill and extensional drilling at the Luanga deposit, and one rig focused on 6,000 m of exploration over newly generated regional targets within the project.
Infill drilling aims to upgrade the existing inferred mineral resources to the measured and indicated categories, while extensional drilling will test areas where the existing resource estimate is constrained by limited drilling below 200 m from surface.
Bravo said both infill and extensional drilling programs are designed to support an ongoing prefeasibility study, which is targeted for the third quarter.
The company added that its 2026 exploration program also includes a substantial geophysical component, which is designed to further refine targeting and support systematic evaluation of priority areas.
TORONTO, Feb. 18, 2026 /CNW/ – Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), ("Bravo" or the "Company") is pleased to announce the commencement of its 2026 PGM+Au+Ni drilling and geophysics programs for its 100% owned Luanga palladium + platinum + rhodium + gold + nickel deposit ("Luanga deposit" or "Luanga PGM+Au+Ni deposit"), located in the Carajás Mineral Province, Pará State, Brazil.
- Commencement of Luanga PGM+Au+Ni 2026 Field Program
- Drilling has commenced with four drill rigs for a total program of 28,000 metres, comprising three rigs executing approximately 22,000 metres of infill and extensional drilling at the Luanga deposit, and one rig dedicated to a further 6,000 metres of PGM+Au+Ni exploration over newly generated regional targets within the Luanga project, including deep targets beneath the existing Luanga deposit mineral resource.
- Infill drilling is aimed at upgrading existing Inferred mineral resources to Measured and Indicated ("M&I") categories.
- Extensional drilling will test areas where the existing Mineral Resource Estimate ("MRE") is constrained by limited drilling below ~200m from surface, targeting potential resource growth within anticipated open pitable parameters.
- Both Infill and Extensional drilling programs are designed to support and further strengthen the ongoing Prefeasibility Study ("PFS") targeted for Q3, 2026.
- PGM+Au+Ni Exploration program includes a combination of newly identified regional prospects and deeper targets beneath the existing Luanga deposit.
- A broad pipeline of prospective targets or target areas were generated following an extensive independent technical review by leading consultants, from which six priority targets/areas have been selected for initial testing.
- The 2026 exploration program also includes a substantial geophysical component, designed to further refine targeting and support systematic evaluation of priority areas.
"Building on the strengthened balance sheet resulting from Bravo's recent equity financing, and following the creation of its dedicated Copper-Gold Exploration Division, the Company has now commenced its 2026 PGM+Au+Ni field program at Luanga, which is being executed independently of, and in parallel with, the Company's Copper-Gold exploration activities, details of which will be announced in due course", said Luis Azevedo, Chairman and CEO of Bravo Mining Corp.
"With four drill rigs operating, we are advancing a balanced program focused on resource conversion, growth potential, and systematic exploration across the broader Luanga intrusion. The infill and extensional drilling will underpin our pending Pre-Feasibility Study, while the parallel PGM+Au+Ni exploration program reflects our growing confidence in the broader potential of the Luanga mineral system."
"Importantly, the regional and deep targets being tested are the result of a disciplined technical process, incorporating independent geological, geochemical and geophysical reviews by renowned experts alongside the Bravo team. This work provides a structured framework to potentially unlock additional value beyond the current resource footprint, while continuing to systematically de-risk the Luanga project."
Commencement of Luanga PGM+Au+Ni 2026 Field Program
Drilling has commenced with 4 drill rigs, of which 3 drill rigs are advancing the infill and extensional drilling program, while the fourth drill rig has been deployed to test newly identified regional PGM targets/areas at Luanga.
A total of 22,000m of drilling has been designed specifically for infill and extensional drilling at Luanga (see Figure 1 for drill plan location along the Luanga deposit).
Infill drilling will target the conversion of Inferred resources to higher confidence M&I resources. This work aims to further support and potentially enhances the ongoing PFS due for delivery in Q3, 2026.
Extensional drilling is designed to test for expansion of the Luanga mineralization in areas where the current MRE is constrained by a lack of data due to limited drilling below approximately 200 metres from surface, with the objective of potentially expanding mineral resources within anticipated open-pit parameters.
The rigs at site have capacity to drill down to approximately 1,200 metres.
Luanga regional PGM exploration and deep drilling program
The fourth rig has been deployed to complete an additional 6,000-metre drilling program dedicated to Luanga PGM exploration, targeting newly generated regional prospects within the Luanga area as well as deeper targets beneath the existing Luanga deposit (see Figure 2 for drill plan, location and sections selected for multi-element analysis).
Numerous targets or prospective target areas were generated following an extensive independent review by leading consulting experts Dr. Nigel Brand(1), a renown specialist geochemist with a key focus on mafic-ultramafic geochemistry, and Grant "Rocky" Osborne(2), also a renown expert with a deep knowledge and experience in mafic-ultramafic intrusions.
From this work the following priority targets have been selected for the first round of exploration and geophysics:
1. "Crescent" Target:
- Potential extension of orthopyroxenite hosted mineralization, possibly within a low-angle stratigraphic setting.
- Planned: Micro-gravity and drill testing.
2. Southern "Imbricate Zone":
- Potential repetition of the prospective Ultramafic Zone/Transition Zone contact at depth, under existing drilling.
- Planned: Drill testing.
3. Shallow West dipping mineralization above the granite contact:
- Interpreted mineralization above the granite footwall.
- Planned: Multi-element assaying and detailed reinterpretation of selected existing drill sections.
4. "Western flank" Target:
- Confirmation and drill testing of the apparent existence of wehrlite (basal ultramafic rocks) overlying mineralized orthopyroxenite.
- Planned: Micro-gravity survey. Drilling pending results initial work.
5. Central Sector Ore-Shoot Potential:
- Conceptual modelling of potential steeply plunging, high-grade PGM shoots within the central mineralized corridor.
- Planned work: Geological modelling and reinterpretation to support deep drill testing.
6. Expanded Micro-Gravity Coverage:
- Extension of the existing micro-gravity survey across additional high-priority areas identified through the aforementioned extensive independent review.
|
(1) |
Dr. Nigel Brand – Dr. Nigel Brand is a highly experienced exploration geochemist with over 30 years of international experience, specializing in mafic–ultramafic magmatic systems and PGM–Ni–Cu mineralization. He holds a PhD in Geochemistry and has worked extensively on layered intrusion–hosted mineral systems, applying advanced multi-element geochemical techniques to delineate fertile stratigraphic horizons and vectors to mineralization. Dr. Brand has advised both major and junior mining companies globally and is widely regarded for his ability to integrate geochemical data with geological and geophysical datasets to refine exploration targeting and mineral system understanding. |
|
(2) |
Grant "Rocky" Osborne – Grant "Rocky" Osborne is a senior geological consultant with more than 35 years of experience focused on the exploration and interpretation of mafic–ultramafic intrusions, particularly those hosting PGM and nickel mineralization. He is recognized for his deep understanding of intrusive architecture, stratigraphy, and the geological controls on mineralized zone continuity. Mr. Osborne has worked on numerous layered intrusion complexes worldwide and has played a key role in developing deposit-scale geological models that support resource growth, target generation, and exploration success in complex magmatic systems. |
Figure 2 illustrates the spatial distribution of lithologies, alteration, known PGM+Au+Ni mineralization, and all drilling completed to date. The figure also shows the six targets and target areas listed above (1 through 6), as well as the existing drill sections selected for planned multi-element geochemical analysis across Luanga's North, Central, and Southern sectors (N1-4, C4-7 and S5-8).
Associated Geophysical Survey Program:
The 2026 exploration program also incudes a significant geophysical program to assist and further refine the targets outlined above (see Figure 3).
This work includes:
- Detailed Micro-gravity on Targets 1, 4 and 6.
- Deep Induced Polarization ("IP") lines on the Central Sector.
- Potential extension of the deep IP program pending initial results from above.
About Bravo Mining Corp.
Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its PGM and copper-gold Luanga Project in the Carajás Mineral Province, Pará State, Brazil. Bravo is one of the most active explorers in Carajás.
The team, comprising of local and international geologists, has a proven track record of PGM, nickel, and copper discoveries in the region. They have successfully taken a past IOCG greenfield project from discovery to development and production in the Carajás.
The Luanga Project is situated on mature freehold farming land and benefits from being located close to operating mines and a mining-experienced workforce, with excellent access and proximity to existing infrastructure, including road, rail, and hydroelectric grid power. Bravo's current Environmental, Social and Governance activities include planting more than 50,000 high-value trees in and around the project area and hiring and contracting locally.
Technical Disclosure
Technical information in this news release has been reviewed and approved by Simon Mottram, F.AusIMM (Fellow Australian Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company's "qualified person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. Mottram has verified the technical data and opinions contained in this news release.
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.
Forward Looking Statements.
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "potential", "resource growth", "further strengthen", "due for delivery", "substantial", "confidence", "unlock additional value", "anticipate", variants of these words and other similar words, phrases, or statements that certain events or conditions "may" or "will" occur. This news release contains forward-looking information and interpretations pertaining to the Company's ongoing drill program and the results thereof; whether or not the Luanga PGM deposit extends to depth; the potential for resource conversion from Inferred to Measured and Indicated categories; the potential for resource expansion within anticipated open-pitable parameters; the identification and results from testing of newly generated regional and deep exploration targets; the timing, scope and outcomes of the Company's 2026 drilling and geophysical programs; the ability of such work to support and strengthen the ongoing Pre-Feasibility Study; the timing and results of the planned PFS; and the broader potential of the Luanga mineral system; the Company's timing, cost and results of planned and future exploration programs; and the Company's plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, unexpected results from exploration programs, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm that the interpreted along strike and up and down dip; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2026/18/c8989.html
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Compass Minerals (CMP), a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Compass Minerals currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
Let's discuss some of the components of the Momentum Style Score for CMP that show why this minerals producer shows promise as a solid momentum pick.
Looking at a stock's short-term price activity is a great way to gauge if it has momentum, since this can reflect both the current interest in a stock and if buyers or sellers have the upper hand at the moment. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.
For CMP, shares are up 10.3% over the past week while the Zacks Chemical – Diversified industry is up 3.42% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 0.53% compares favorably with the industry's 11.11% performance as well.
While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics — such as performance over the past three months or year — can be useful as well. Over the past quarter, shares of Compass Minerals have risen 23.73%, and are up 92.42% in the last year. In comparison, the S&P 500 has only moved 2.88% and 13.25%, respectively.
Investors should also take note of CMP's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now CMP is averaging 514,620 shares for the last 20 days..
Earnings Outlook
The Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with CMP.
Over the past two months, 1 earnings estimate moved higher compared to none lower for the full year. This revision helped boost CMP's consensus estimate, increasing from $0.70 to $0.80 in the past 60 days. Looking at the next fiscal year, 1 estimate has moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Given these factors, it shouldn't be surprising that CMP is a #1 (Strong Buy) stock and boasts a Momentum Score of B. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Compass Minerals on your short list.
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Compass Minerals International, Inc. (CMP) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Announced the initiation of its fully funded 2026 exploration and technical studies programs, highlighted by the commencement of drilling at its 100%-owned Fenelon Gold Project in northwestern Québec. Wallbridge Mining Company Limited shares T.WM are trading unchanged at $0.09.
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TORONTO, Feb. 17, 2026 (GLOBE NEWSWIRE) — Wallbridge Mining Company Limited (TSX: WM, OTCQB:WLBMF) (“Wallbridge” or the “Company”) is pleased to announce the initiation of its fully funded 2026 exploration and technical studies programs, highlighted by the commencement of drilling at its 100%-owned Fenelon Gold Project (“Fenelon”) in northwestern Québec.
The 2026 program represents one of the Company’s more active exploration seasons in recent years, with approximately 25,000 metres of drilling planned across the Fenelon, Martiniere, Casault and Grasset properties. The program is designed to advance Fenelon toward its next stage of technical development while continuing to unlock growth potential at the Martiniere Gold Project (“Martiniere”) and earlier stage prospects along the Company’s 598 km² land position covering 82 kilometres of the prolific Detour–Fenelon gold trend.
“We are excited to have launched our fully funded, clearly defined 2026 exploration and development strategy. At Fenelon, our focus is on advancing the technical work required to further de-risk the project and position it for the next stage of development. At the same time we are allocating capital to systematically evaluate the broader growth potential at Martiniere and across our regional property portfolio,” commented Brian W. Penny, Wallbridge’s Chief Executive Officer.
“Our 2026 program is structured to balance longer term development priorities with nearer-term resource growth opportunities, while maintaining financial discipline and flexibility as results are received,” concluded Mr. Penny.
2026 EXPLORATION PROGRAM OVERVIEW
Fenelon
Drilling has commenced at Fenelon with one rig focused on targeted infill areas within the current mineral resource that forms part of the conceptual mine plan outlined in the Company’s March 27, 2025 Preliminary Economic Assessment (“PEA”). This initial campaign will include approximately 2,000 metres of large-diameter (HQ) core drilling to support metallurgical test work and related technical studies. The program is designed to further evaluate gold recoveries across the deposit and characterize residual tailings and waste rock material to further de-risk the project as Wallbridge advances Fenelon along the development pathway to a future pre-feasibility study.
The Company has engaged Synectiq, an independent mining consultancy headquartered in Longueuil, Québec, to oversee and coordinate the metallurgical testing and related technical studies included in the 2026 program. Synectiq brings extensive experience managing multidisciplinary engineering and development studies for mining projects and has supported the advancement of projects from PEA through pre-feasibility and final feasibility stages.
Following completion of this campaign, a 1,500-metre reconnaissance drilling program is planned to test prospective targets located within approximately 2.5 kilometres of the main deposit area, in alignment the Company’s strategy of evaluating both near-deposit growth and regional upside.
Martiniere
In mid-March, a second drill rig will be mobilized to Martiniere where approximately 17,000 metres of drilling are planned in two phases. Phase 1 (mid-March to mid-May) will build on strong results from the 2025 exploration program and focus on expanding and evaluating the scale and continuity of the gold system. Phase 2 (early July to mid-September) will be designed based on Phase 1 results, positioning Martiniere for potential future resource delineation as results warrant.
Casault and Grasset
Upon completion of the initial Fenelon campaign, drilling will move to the Casault property, where approximately 3,000 metres of reconnaissance drilling will test priority targets including the Vortex prospect and several untested structural intersections along the Sunday Lake Deformation Zone (“SLDZ”). The SLDZ is a key structural corridor along the Detour–Fenelon trend, which hosts Agnico Eagle’s Detour Lake gold mine as well as Wallbridge’s Fenelon and Martiniere projects. Wallbridge holds an option to earn a 50% interest in Casault through its agreement with Midland Exploration.
Following completion of Martiniere Phase 2, approximately 1,500 metres of reconnaissance drilling are planned at the Grasset property to test newly identified targets along the eastern projection of the SLDZ.
The 2026 program will utilize two diamond drill core rigs from mid-February to mid-May, scaling down to one diamond drill rig from mid-May until the program’s expected completion in late September.
Total expenditures for 2026, including corporate G&A, are anticipated to be approximately $27 million. This total includes a 30% increase in exploration and technical studies program costs compared to 2025. The Company ended 2025 with a cash balance of $28.9 million.
Figure 1: Wallbridge Property Map Click to enlarge.
Qualified Person
The Qualified Person responsible for the technical content of this news release is Mr. Mark A. Petersen M.Sc., P.Geo. (OGQ AS-10796; PGO 3069), Senior Exploration Consultant for Wallbridge.
About Wallbridge Mining
Wallbridge is focused on creating value through the exploration and sustainable development of gold projects in Quebec’s Abitibi region while respecting the environment and communities where it operates. The Company holds a contiguous mineral property position totaling 598 square kilometres that extends approximately 82 kilometres along the Detour-Fenelon gold trend. The land position is host to the Company’s flagship PEA stage Fenelon Gold Project, and its earlier exploration stage Martiniere Gold Project, as well as numerous greenfield gold projects.
For further information please visit the Company’s website at https://wallbridgemining.com/ or contact:
| Wallbridge Mining Company Limited | |
| Brian Penny, CPA, CMAChief Executive OfficerEmail: bpenny@wallbridgemining.comM: +1 416 716 8346 | Tania Barreto, CPIRDirector, Investor RelationsEmail: tbarreto@wallbridgemining.comM: +1 416 289 3012 |
Cautionary Note Regarding Forward-Looking Information
The information in this document may contain forward-looking statements or information (collectively, “FLI”) within the meaning of applicable Canadian securities legislation. FLI is based on expectations, estimates, projections and interpretations as at the date of this document.
All statements, other than statements of historical fact, included herein are FLI that involve various risks, assumptions, estimates and uncertainties. Generally, FLI can be identified by the use of statements that include, but are not limited to, words such as “seeks”, “believes”, “anticipates”, “plans”, “continues”, “budget”, “scheduled”, “estimates”, “expects”, “forecasts”, “intends”, “projects”, “predicts”, “proposes”, "potential", “targets” and variations of such words and phrases, or by statements that certain actions, events or results “may”, “will”, “could”, “would”, “should” or “might”, “be taken”, “occur” or “be achieved.”
FLI in this document may include, but is not limited to: the continuity of and expansion potential of the Fenelon and Martiniere gold systems; the potential for mine development at Fenelon; the potential to increase mineral resources on the Company’s properties on the Detour-Fenelon gold trend ; the growth potential of Casault, Grasset and the Company’s mineral properties in general; the amount of budgeted total expenditures during 2026; and the significance of historic exploration activities and results.
FLI is designed to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI. Although the FLI contained in this document is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained in this document to reflect new events or circumstances. Unless otherwise noted, this document has been prepared based on information available as of the date of this document. Accordingly, you should not place undue reliance on the FLI, or information contained herein.
Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI.
Assumptions upon which FLI is based, without limitation, include: the results of exploration activities, the Company’s financial position and general economic conditions; the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the Company’s mineral properties; the accuracy of key assumptions, parameters or methods used to estimate the mineral resource estimates and in the preliminary economic assessment; the ability of the Company to obtain required approvals; geological, mining and exploration technical problems; failure of equipment or processes to operate as anticipated; the evolution of the global economic climate; metal prices; foreign exchange rates; environmental expectations; community and non-governmental actions; and, the Company’s ability to secure required funding. Risks and uncertainties about Wallbridge's business are discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at www.sedarplus.ca.
Cautionary Notes to United States Investors
Wallbridge prepares its disclosure in accordance with NI 43-101 which differs from the requirements of the U.S. Securities and Exchange Commission (the "SEC"). Terms relating to mineral properties, mineralization and estimates of mineral reserves and mineral resources and economic studies used herein are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended. NI 43-101 differs significantly from the disclosure requirements of the SEC generally applicable to US companies. As such, the information presented herein concerning mineral properties, mineralization and estimates of mineral reserves and mineral resources may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/329c523e-afae-4472-a097-17f2c05b6b00
Halifax, Nova Scotia–(Newsfile Corp. – February 17, 2026) – Ucore Rare Metals Inc. (TSXV: UCU) (OTCQX: UURAF) ("Ucore" or the "Company") is pleased to announce the submission of final reporting under Phase 1 of its Other Transaction Agreement ("OTA" or "Agreement") with the US Department of War (the "Project"). As outlined in the Agreement, the report was submitted to the US Army Contracting Command – Orlando and included both a Final Demonstration Report and a Final Techno-Economic Analysis ("TEA") detailing the work conducted at Ucore's RapidSX™ Commercialization and Demonstration Facility ("CDF").
The report addressed a number of items, including the following:
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Project objective and scope demonstrating a better approach to Chinese utilized conventional solvent extraction ("CSX"), including continuous improvement modifications to the RapidSX™ Demonstration Plant implemented during execution;
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The demonstrated results of RapidSX™ processing applying the time-proven chemistry of solvent extraction chemistry much more efficiently through the combination of reaching chemical equilibrium faster within a smaller physical equipment footprint;
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Results of processing tonnes of a real-world heavy mixed rare earth oxide ("MREO") feedstock with proprietary and patent-pending computerized RapidSX™ columns versus CSX mixer/settler units;
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Analysis of Project results for refining "heavy" rare earth as well as samarium and gadolinium, which are crucial to national defense, green energy, EVs, and emerging industries; and
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Milestones, Key Performance Metrics, Continuous Improvement of the Technical Approach, Lessons Learned, and Benefits to the US Government and Other Stakeholders.
The primary results of the Final Report focused on comparing the Company's proprietary RapidSX™ technology platform with concurrent testing in a neighboring conventional solvent extraction pilot plant, also constructed by Ucore. CSX is the only technology currently being used at a significant commercial scale for the refining of rare earth elements. Separating individual elements, such as neodymium from praseodymium or dysprosium from terbium, requires sophisticated solvent-extraction chemical processes. As demonstrated through the work at the CDF, the modular RapidSX™ technology platform executed the solvent extraction chemistry with precision and flexibility.
Phase 1 of the Project resulted in approximately 6,000 hours of run time on the Company's RapidSX™ Demonstration Plant in a simulated commercial production environment and the production of thousands of liters of PrNd, SmEuGd, Sm, Gd, Tb, and Dy chloride products – with additional small batch amounts of oxide products. There were over 10,000 points of recovery and purity comparisons with conventional SX, clearly demonstrating RapidSX™ technology's efficacy with respect to planned commercial operational parameters and the smart deployment of capital, enabled by its inherent scalability and modularity.
Figure 1 – 3D Engineered Model of LA-SMC RapidSX™ Contactor Factory Acceptance Testing Program – DoW Phase 2
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/1119/284146_3c7d07646453db2f_001full.jpg
Phase 2
Phase 2 of the Agreement, which was executed in May of 2025, is currently underway, with 5 of 20 milestones completed to date. Work under Phase 2 of the Agreement will culminate in the construction, commissioning, and demonstration of one commercial-scale RapidSX™ machine at the Company's commercial processing facility in Alexandria, Louisiana – The Louisiana Strategic Metals Complex. Subsequent RapidSX™ machines installed in series will form the first stage of 2,500 tonnes per annum of total rare earth oxide ("TREO") processing for rare earth oxide production.
"Breaking the Chinese advantages of state-backed processing capacity requires a 21st century approach with digital manufacturing savvy and a reasonable deployment of capital," said Pat Ryan, P.Eng., Chairman and CEO of Ucore Rare Metals Inc. "The completion of the Phase I Report for the DoW under our OTA and a path to commercialization with Phase 2 financial support clearly shows processing independence has become a national security priority for the US Administration worthy of sustained investment."
The Company anticipates releasing more detailed information on the Project's results and the Techno-Economic Assessment upon formal acceptance by the US Army Contracting Command – Orlando, which is expected in the coming weeks.
# # #
About Ucore Rare Metals Inc.
Ucore is focused on rare- and critical-metal resources, extraction, beneficiation, and separation technologies with the potential for production, growth, and scalability. Ucore's vision and plan is to become a leading advanced technology company, providing best-in-class metal separation products and services to the mining and mineral extraction industry.
Through strategic partnerships, this plan includes disrupting the People's Republic of China's control of the North American REE supply chain through the near-term development of a heavy and light rare-earth processing facility in the US State of Louisiana, subsequent SMCs in Canada and Alaska and the longer-term development of Ucore's 100% controlled Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska, USA ("Bokan").
Ucore is listed on the TSXV under the trading symbol "UCU" and in the United States on the OTC Markets' OTCQX® Best Market under the ticker symbol "UURAF."
For further information, please visit www.ucore.com.
Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release (other than statements of historical facts) that address future business development, technological development and/or acquisition activities (including any related required financings), timelines, events, or developments that the Company is pursuing are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance or results, and actual results or developments may differ materially from those in forward-looking statements.
Regarding the disclosure in the press release above about government support for Ucore, the Company has assumed that the applicable projects (including each of the associated milestones) will be completed satisfactorily and in accordance with the respective agreements or letters of intent (as applicable) for such government support. For additional risks and uncertainties regarding the Company, its business activities, its ability to qualify for and receive any additional funding from any U.S. or Canadian government, the CDF and the aforementioned projects (generally), see the risk disclosure in the Company's MD&A for Q3-2025 (filed on SEDAR+ on November 25, 2025) (www.sedarplus.ca) as well as the risks described below.
Regarding the disclosure above in the "About Ucore Rare Metals Inc." section, the Company has assumed that it will be able to procure or retain additional partners and/or suppliers, in addition to Innovation Metals Corp. ("IMC"), as suppliers for Ucore's expected future SMCs. Ucore has also assumed that sufficient external funding will be found to continue and complete the ongoing research and development work required at the CDF and also later prepare a new National Instrument 43-101 technical report that demonstrates that Bokan is feasible and economically viable for the production of both REE and co-product metals and the then prevailing market prices based upon assumed customer offtake agreements. Ucore has also assumed that sufficient external funding will be secured to continue the development of the specific engineering plans for the SMCs and their construction and eventual commissioning and operations. Factors that could cause actual results to differ materially from those in forward-looking statements include, without limitation: IMC failing to protect its intellectual property rights in RapidSX™; RapidSX™ failing to demonstrate commercial viability in large commercial-scale applications; Ucore not being able to procure additional key partners or suppliers for the SMCs; Ucore not being able to raise sufficient funds to fund the specific design and construction of the SMCs and/or the continued development of RapidSX™; adverse capital-market conditions; unexpected due-diligence findings; the emergence of alternative superior metallurgy and metal-separation technologies; the inability of Ucore and/or IMC to retain its key staff members; a change in the legislation in Louisiana or Alaska and/or in the support expressed by the Alaska Industrial Development and Export Authority (AIDEA) regarding the development of Bokan; the availability and procurement of any required interim and/or long-term financing that may be required; and general economic, market or business conditions.
Neither the TSXV nor its Regulation Services Provider (as that term is defined by the TSXV) accept responsibility for the adequacy or accuracy of this release.
CONTACTS
Mr. Michael Schrider, P.E., Ucore Vice President and Chief Operating Officer, is responsible for the content of this news release and may be contacted at 1.902.482.5214.
For additional information, please contact:
Mark MacDonaldVice President, Investor RelationsUcore Rare Metals Inc.1.902.482.5214mark@ucore.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284146
VANCOUVER, BC, Feb. 12, 2026 /CNW/ – (TSX: LUN) (Nasdaq Stockholm: LUMI) Lundin Mining Corporation ("Lundin Mining" or the "Company") is pleased to announce that the Company has received commitments from 17 lenders to upsize and amend its existing revolving credit facility ("Credit Facility") to $4.5 billion to facilitate funding of the Vicuña Project as well as for general corporate purposes. The commitments are subject to the execution and delivery of definitive documentation satisfactory to the Company and the Credit Facility lenders, and the fulfillment of customary conditions precedent. All monetary amounts in this news release are expressed in United States dollars unless otherwise indicated.
Total commitments amount to $4.5 billion, with the Company initially having access to $2.25 billion. Upon satisfaction of certain conditions, the Credit Facility will expand to $3.5 billion, and upon sanctioning Stage 1 of the Vicuña Project, will increase to the full $4.5 billion. In addition, the maturity date will be extended to 2031. Pricing remains unchanged from the current facility and is based on a sliding scale, with margins ranging from 1.45% to 2.50% over adjusted SOFR, depending on the Company's leverage ratio.
Teitur Poulsen, Chief Financial Officer, commented "The upsizing of our Credit Facility to $4.5 billion is one of the cornerstones to advancing the Vicuña Project and keeps us on track of our goal to become a top-ten global copper producer with annual production of over 500,000 tonnes of copper once Vicuña is in full operation. We are very pleased with the commitments we have received from 12 of our existing lenders in addition to the 5 new lenders joining our Credit Facility.
"As we continue to work with our partner BHP to optimize the funding strategy for the Vicuña Project, the extension and upsizing of the Credit Facility further strengthens our financial flexibility and underscores the confidence of our lending partners in the quality of the Vicuña Project and our broader operating portfolio. Combined with our strong balance sheet and consistent operating performance, the Credit Facility positions us to fund our share of the Vicuña Project while continuing annual shareholder distributions of $220 million, creating long-term value for shareholders."
The amended Credit Facility is expected to include standard and customary terms and conditions with respect to fees, representations, warranties, and financial covenants.
Upon execution, the amended Credit Facility agreement will be filed on SEDAR+ (www.sedarplus.ca).
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 EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below on February 12, 2026 at 4:00 Pacific Time.
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 and Talon's respective plans, prospects and business strategies and strategic vision and aspirations, and their achievement and timing; statements regarding the Transaction Credit Facility and the amendments thereto, including the expected terms thereof, timing of execution of definitive documentation, availability of committed amounts, anticipated increases in capacity of the amended Credit Facility upon satisfaction of conditions and project milestones, pricing, and the expected maturity date; statements regarding the use of proceeds from the Credit Facility; the Company's expectations regarding its funding strategy for the Vicuña Project and its work with BHP; the Company's expectations regarding its production capacities, operational performance and the timing and amount of future production; the Company's expectations regarding the results of operations; anticipated exploration and development activities at the Company's projects; the Company's growth and optimization initiatives and expansionary projects, including the Vicuña Project and the potential costs, outcomes, results and impacts thereof; the Company's expectations regarding financial performance, adequacy of capital resources, financial flexibility, and liquidity; the Company's ability to fund its share of the Vicuña Project and other obligations, including annual shareholder distributions; the Company's shareholder distribution policy, including with respect to share buybacks and the payment and amount of dividends; benefits of the Transaction for the Company and Talon and the anticipated synergies associated with the Transaction; Lundin Mining's plans relating to its ownership interest in Talon following closing of the Transaction; the anticipated benefit of the Transaction to Lundin Mining's shareholders; 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 that assumptions regarding the completion of the amended Credit Facility on the terms anticipated or at all; the timing of satisfaction of conditions precedent to and the Company's ability to meet the conditions of the amended Credit Facility, including the fees, representations, warranties and financial covenants; the ability of the Company to access committed amounts, including on the anticipated schedule and upon the satisfaction of certain conditions such as sanctioning Stage 1 of the Vicuña Project; the successful sanctioning, permitting and development of the Vicuña Project that Talon's post-closing results of operations will be consistent with past performance and management expectations in relation thereto; the ability of Talon to achieve post-closing goals and identify and realize post-closing opportunities; that the political environment in which the Company and Talon operates will continue to support the development and operation of mining projects; that the Company can access financing, appropriate equipment and infrastructure and sufficient labour; assumed and future price of copper, gold, zinc, nickel, silver and other metals; anticipated costs, including capital expenditures and operating costs, and no material cost overruns; 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 permits and their renewals; positive relations with local groups; construction, development, commissioning and ramp-up timelines; 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; the Company's ability to comply with contractual and permitting or other regulatory requirements; and such other assumptions as set out herein and in the Company's other public disclosure documents, 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, economic, political, regulatory and competitive uncertainties and contingencies. 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: the failure to realize the anticipated benefits of the Transaction; risks relating to the development, permitting, construction, commissioning and ramp-up of the Vicuña Project and the Company's other projects and initiatives; risks associated with large-scale project financing and the Company's ability to access additional capital on acceptable terms; 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; reputation risks related to negative publicity with respect to the Company, Talon or the mining industry in general; delays or the inability to obtain, retain or comply with permits; risks relating to the development of the Company's and Talon's respective projects; 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; 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; 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; risks relating to geotechnical incidents; risks relating to tailings and waste management facilities; risks relating to the Company's indebtedness; challenges and conflicts that may arise in partnerships and joint operations, including risks relating to the Company's partnership with BHP and risks associated with joint venture governance and the ability to reach timely decisions on material matters affecting the Vicuña Project; risks relating to development projects, including Filo del Sol and Josemaria; risks that revenue may be significantly impacted in the event of any production stoppages or reputational damage in Chile, Argentina or Brazil; the impact of global financial conditions, market volatility and inflation, including pricing and availability of key supplies 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 disputes, litigation and administrative proceedings (including tax disputes) which the Company may be subject to from time to time; 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; payment of dividends in the future; 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; potential for the allegation of fraud and corruption involving the Company, its or Talon, their respective customers, suppliers or employees, or the allegation of improper or discriminatory employment practices, or human rights violations; 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; counterparty and customer concentration risk; risks associated with the use of derivatives; currency and exchange rate fluctuations; the terms of the 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 "Risks and Uncertainties" section of the Company's MD&A for the three and nine months ended September 30, 2025, the "Risks and Uncertainties" section of the Company's MD&A for the year ended December 31, 2024, and the "Risks and Uncertainties" section of the Company's Annual Information Form for the year ended December 31, 2024, 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.
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Virtual Investor Conferences
Company Executives Share Vision and Answer Questions Live at VirtualInvestorConferences.com
NEW YORK, Feb. 13, 2026 (GLOBE NEWSWIRE) — Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from the Precious Metals & Critical Minerals Growth Virtual Investor Conference, held February 10th – 12th are now available for on-demand viewing.
Individual investors, institutional investors, advisors, and analysts are invited to attend.
REGISTER AND VIEW PRESENTATIONS HERE
The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download investor materials from the company’s resource section.
Select companies are accepting 1×1 management meeting requests through February 25th.
Please Schedule 1×1 Meetings here
February 10th – 12th
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Valkea Resources Corp. |
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Cabral Gold, Inc. |
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Anfield Energy Inc. |
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Dryden Gold Corp. |
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Highland Copper Company Inc. |
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Lake Resources N.L. |
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IBC Advanced Alloys Inc. |
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Prince Silver Corp. |
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Blackrock Silver Corp. |
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Great Pacific Gold Corp. |
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GR Silver Mining Ltd. |
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Silver Storm Mining Ltd. |
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Star Gold Corp. |
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American Battery Materials |
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Adyton Resources Corporation |
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Gold Terra Resource Corp. |
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DLP Resources Inc. |
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Liberty Gold Corp. |
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Arizona Metals Corp. |
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First Phosphate Corp. |
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Aftermath Silver Ltd. |
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Founders Metals Inc. |
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Precipitate Gold Corp. |
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Galantas Gold Corp. |
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International Battery Metals Ltd. |
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Dolly Varden Silver Corporation |
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Roxmore Resources Inc. |
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North Bay Resources, Inc. |
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Frontier Lithium Inc. |
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RPX Gold Inc. |
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White Gold Corp. |
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STLLR Gold Inc. |
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AbraSilver Resource Corp. |
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West Red Lake Gold Mines Ltd. |
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Lion Copper & Gold Corp. |
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Radisson Mining Resources Inc. |
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District Metals Corp. |
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1911 Gold Corp. |
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MONTREAL, Feb. 12, 2026 (GLOBE NEWSWIRE) — Midland Exploration Inc. (“Midland”) (TSX-V: MD) announces that it has granted incentive stock options to employees, directors and officers of Midland to acquire an aggregate of 870,000 common shares at $0.52 per share, for a period of 10 years. These incentive stock options have been granted in accordance with Midland’s stock option plan (the “Plan”). Considering the present grant, there is 7,510,000 stock options outstanding.
About Midland
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold and critical metals. Midland is proud to count on reputable partners such as Rio Tinto Exploration Canada Inc., BHP Canada Inc., Centerra Gold Inc., Barrick Gold Inc., Agnico Eagle Mines Limited, Wallbridge Mining Company Ltd, Fresnillo plc., La Pulga Mining Corp., SOQUEM Inc., Nunavik Mineral Exploration Fund, and Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Management is currently reviewing other opportunities and projects to build up Midland’s portfolio and generate shareholder value.
For further information, please consult Midland’s website or contact:
Gino Roger, President and Chief Executive OfficerTel: 450 420-5977Fax: 450 420-5978E-mail: info@midlandexploration.comWebsite: www.midlandexploration.com
Neither 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 release.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. Forward-looking statements include statements relating to the Corporation’s expectations regarding the conclusion of additional agreements in regard to newly acquired properties, and other estimates and statements that describe Midland’s future plans, objectives or goals, including words to the effect that Midland or management expects a stated condition or result to occur. All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, without limitation, changes in general economic conditions and conditions in the financial markets, changes in demand and prices for minerals, failure to obtain the requisite permits and approvals from government bodies and third parties, regulatory and governmental policy changes (laws and policies) and those risks set out in Midland’s public documents, including in each management discussion and analysis, filed on SEDAR+ at www.sedarplus.com. Although Midland believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Midland disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Canadian businesses inked more “megadeals” last year, even as geopolitical tensions and economic uncertainty slowed the overall pace of dealmaking.
That’s according to a new report calling for a more active year in 2026, thanks in part to the federal government.
New York-based financial advisory firm Kroll’s latest Canadian M&A report found that while the deal count for 2025 fell versus 2024, disclosed valuations hit their highest level in a decade.
According to the report, 1,405 Canadian companies transacted in 2025, down 8.4 per cent from 2024. At the same time, total implied enterprise value soared 38.1 per cent year-over-year to $122.2 billion. Kroll says while “megadeals” accounted for only seven per cent of all transactions last year, they represented 85 per cent of the total disclosed deal value.
“Geopolitical conflicts and macroeconomic uncertainty over 2025 have increased the cautiousness and selectiveness of buyers, though there is clear willingness to transact for high-quality assets,” the researchers wrote.
The report says the largest Canadian transaction in 2025 was a deal to acquire Nord Anglia Education led by a consortium of investors including the Canada Pension Plan Investment Board.
The second-largest deal involving Canadian parties was the acquisition of French renewable energy firm Neoen by Brookfield (BN.TO), Brookfield Renewable Partners (BEP-UN.TO), and a financial firm based in Singapore.
Parkland’s acquisition by Sunoco was the third-largest deal.
Kroll says several additional “megadeals” were announced in 2025, but have yet to close. These include Anglo American’s bid (AAL.L) for Teck Resources (TECK-B.TO). There’s also the deal to acquire Calgary-based Nova Chemicals led by Austria’s Borouge Group, and the purchase of Convex Group by Onex (ONEX.TO) and American International Group (AIG). (This deal closed on Feb. 6.)
According to Kroll, the median 30-day takeover premium of public companies in 2025 was 37 per cent, up one percentage point on an annualized basis.
Private company transactions dominated the deal landscape, accounting for 91 per cent of M&A activity, down from 94 per cent in 2025. Meanwhile, the number of public companies sold in Canada rose to 125, from 92 in 2024.
‘Encouraging tailwinds’ for 2026
Looking ahead to 2026, Kroll’s M&A team sees Canada’s federal government helping to “mitigate a dynamic relationship between Canada and the U.S.” Prime Minister Mark Carney’s government is attempting to double non-U.S. exports within a decade.
So far this year, Carney has secured a new strategic trade partnership with China, and resumed previously stalled negotiations with India. At the recent World Economic Forum in Davos, he proposed an ambitious fusion of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and European Union trade blocs.
Kroll says the United States accounted for 60 per cent of the deals to acquire Canadian companies in 2025. At the same time, Canadian acquirers favoured the U.S., which accounted for 59 per cent of foreign deals.
“The Canadian M&A market has encouraging tailwinds going into 2026. Strategic buyers and financial sponsors have shown a clear willingness to engage in M&A through 2025,” the researchers wrote in their report. “As they begin to adapt to this new ‘normal,’ we are likely to see more buyers come off the sidelines.”
Last December, PwC Canada called for the federal government to play a key role in spurring the pace of M&A deals in 2026.
Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on X @jefflagerquist.
BATIDERO, Argentina, Feb 9 (Reuters) – High in the Andes Mountains, more than 4,200 meters above sea level on the Argentina–Chile border, mining company Vicuña Corp. aims to double its investment this year in one of the world’s biggest copper bets, a company executive said.
Vicuña Corp., formed by Australia’s BHP and Canada’s Lundin Mining, could invest about $800 million this year in the Filo del Sol and Josemaría mines, according to communications director Caterina Dzugala. The two projects could turn out to be among the most consequential copper developments globally.
"In 2025, almost $400 million was invested… and we aspire to double that figure this year," Dzugala said during a visit to the Batidero camp, the project’s operational base in San Juan province.
The projects form the Vicuña District, one of the world’s largest undeveloped copper, gold and silver deposits, according to the company. Vicuña estimates total investment at $5 billion, though local officials and industry sources put the figure as high as $15 billion.
The company declined to confirm a final total ahead of an integrated technical report due later in the first quarter.
Argentina has not produced copper since the Alumbrera mine closed in 2018. It is seeking to re‑enter the global market as governments and automakers warn of looming shortages of the metal critical to electrification.
On a February afternoon, midsummer sun settles over the Vicuña projects, where thin air and sudden weather shifts are part of daily operations. At that altitude, oxygen levels drop sharply. Visitors are required to undergo medical screenings before traveling to the site.
Geologists sort freshly extracted samples as crews advance along rough mountain roads toward the self‑contained Batidero camp, built to house more than 1,000 workers on a stark landscape of foxes and roaming vicuñas.
The project is expected to begin production in 2030, with both mines processing concentrate at a central plant in Josemaría, which has an estimated lifespan of 25 years.
A STRATEGIC BET
Argentina’s flagship copper development is advancing as President Javier Milei seeks to attract foreign capital through sweeping incentives for the mining sector. Vicuña has applied to join the government’s Large Investment Incentive Regime (RIGI), which offers tax and legal benefits to major export projects.
Together, the deposits contain 13 million metric tons of measured copper and 25 million inferred, along with substantial gold and silver resources, according to the company.
Still, building roads and power lines in the high Andes remains a challenge, with debate over whether the burden should fall on the state or private companies.
For Juan Arrieta, Vicuña’s geology manager, the district’s value lies in what remains to be proven.
“The Filo del Sol area is four times larger than that of Josemaría,” Arrieta said, adding that the district “has been described as the greatest discovery of the last 30 years worldwide in terms of resources."
(Reporting by Lucila Sigal; editing by Cassandra Garrison and David Gregorio)
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