
October 09, 2024
Tartana Minerals Limited (ASX: TAT) (the Company) is pleased to advise that it has entered into a non-binding term sheet to acquire a private explorer, Queensland Strategic Metals Pty Ltd (QSM) (the Acquisition).
Highlights:
- Non-binding agreement to acquire Queensland Strategic Metals Pty Ltd (QSM) which holds ten EPMs and one ML covering copper, tin, tungsten, antimony and silver and gold prospects.
- Key QSM projects include Laheys Creek, Comeno, De Wett, Lady Agnes and Tap’n’Toe, Fluorspar in the which polymetallic (Sn, Pb, Cu, Ag, Au, REE, Indium) prospects relate to Carboniferous-Permian granites.
- The most advanced is the Daisy Bell prospect where a mineralised 6 – 9 m wide greisen dyke can be traced for at least 1.8 km along strike. Historical percussion drilling includes:
- 7.6 m @ 1.25% Sn & 0.3% WO3 from 32.0m (Hole 2)
- 13.7 m @ 1.46% Sn & 0.48% WO3 from 36.6m (Hole 10)
- Other projects include Ortona and Cherry Tree copper projects where high grade (>10% Cu) chalcocite exposures are present in outcrop. Ortona has a magmatic affiliation with exposure of copper (chalcocite) grading up to 10% Cu in a series of parallel veins as well a 1.8 m zone grading 1.3 % Co & 1.0 % Ni at surface. Cherry Tree has prospective magnetic targets near the Dianne Hight Strain zone supported by a chalcocite exposure.
- The QSM assets compliment the existing Tartana exploration portfolio providing both additional copper targets as well as increasing Tartana’s exposure to critical metals.
- Completion remains subject to executing binding formal documentation and shareholder approval pursuant to Chapter 7 and Chapter 10 of the ASX Listing Rules.
Completion of the Acquisition remains subject to formal documentation being executed and shareholder approval by Tartana’s shareholders for the purposes of ASX Listing Rule 10.1, 10.11, and 7.1 (further detailed below), amongst other conditions precedent. There can be no assurances that the transaction will complete until such time that all conditions precedent have been met. A summary of the terms of the non-binding agreement is set out at Annexure A.
Acquisition Rationale
QSM’s EPMs and ML are located Far North Queensland and are complementary to Tartana’s existing exploration portfolio with two copper projects with high grade copper surface mineralisation as well as several EPMs covering critical mineral prospects. The critical mineral EPMs are in proximity to Tartana’s own Herberton (Emuford) EPM Application (EPMA 27220) and are part of move by Tartana to increase its exposure to tin, tungsten and silver and other critical metals.
With Tartana’s Copper Sulphate production continuing to produce healthy cash flows, the Company has also been focused on investigating the development of primary copper mineralisation at the Tartana open pit as well as increasing its exploration portfolio to incorporate additional and complementary projects targeting copper and critical metals. While the former has involved drilling a metallurgical hole (D15) and completing metallurgical test work (flotation recoveries and ore sorting), the opportunity to acquire QSM addresses the latter.
About QSM
QSM has, over the course of recent years aggregated ten EPMs and one ML covering 771 km2 in Far North Queensland (See Figure 2). QSM has acquired the tenements through a series of transactions with tenure holders with a focus on discovery of hardrock critical and strategic metal projects, particularly tin, tungsten and copper.
In some cases the vendors of these tenements have held them for a significant period of time with a focus on alluvial mining over hard-rock exploration. QSM was able to secure attractive terms to acquire these tenements by leaving the alluvial rights in the hands of the vendors or Queensland Alluvial Resources Pty Ltd (further detailed below).
QSM has 7 project areas which are listed in Figure 1. Each project area contains prospects recorded by the Queensland Department of Resources and these are listed under each project/EPM. The dominant metal associated with each project is colour coded with many relating to the minor metals; tin, tungsten and antimony.
While there are many prospects in several of the permits, QSM has completed site visits and discussed the various prospects with ‘old time miners’ to establish which particular projects offer potential scale and potential unmined mineralisation. These projects are in bold in Figure 1.
Figure 1. QSM tenure and various prospects. QSM has prioritised the projects which are identified in bold.
Figure 2. Tartana and QSM EPMs.
A detailed project review has been provided at Annexure B.
Click here for the full ASX Release
This article includes content from Tartana Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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20 February
Tartana Minerals
Investor Insight
Tartana Minerals is a new copper producer with strong cash flow and a substantial exploration footprint in a tier 1 mining jurisdiction. Tartana Minerals is creating shareholder value through investment in increasing its existing copper, zinc and gold resources and accelerating exploration of key projects within its highly prospective exploration portfolio. Tartana Minerals presents a compelling investment against a strong macroeconomic environment for copper.
Overview
Tartana Minerals (ASX:TAT) is a copper, gold, silver and zinc, producer, explorer and developer in Far North Queensland. Its flagship project is the 100 percent owned Tartana copper and zinc project which comprises four mining leases located north of Chillagoe. The company’s business model has involved refurbishing an existing heap leach - solvent extraction – crystallisation plant which is located on the Tartana mining leases. The refurbishment and commissioning of this plant is now completed and the company is producing copper sulphate pentahydrate which is sold to offtaker, Kanins International. Copper sulphate is priced on a premium plus percentage of the LME copper price and provides investors with leverage to anticipate increasing copper prices.
The company, formerly known as R3D Resources, changed its name to Tartana Minerals in April 2024. Tartana Minerals is based in Sydney, Australia.
Tartana Minerals has reported the following resources:
- 45,000 tonnes of contained copper at 0.45 percent copper in combined inferred and indicated resources in the Tartana open pit and northern oxide zone
- 39,000 tonnes of contained zinc at 5.29 percent zinc in inferred resources in the Queen Grade project, also located on the Tartana mining leases, and
- 415,000 oz contained gold at 0.34 g/t in inferred resources at Mountain Maid – subject to a mining lease application.
These copper, zinc and gold resources remain open at depth and along strike and the company has designed drilling programs to expand these resources. In particular, the copper mineralisation and potentially the gold mineralisation have scope to be upgraded through ore sorting.
However, the refurbished heap leach – solvent extraction – crystallisation plant utilises existing copper in the ponds and the heaps and these copper sources will be replenished when we commence mining from the open pit.
Copper sulphate contains 25 percent copper metal and payment is based on the LME copper price for the preceding month plus a premium. It is one of the few forms of saleable copper where the copper content receives the full LME price.
Sprinklers operating on the lower heap. Note the presence of copper (blue).
Tartana Minerals completed the acquisition of Queensland Strategic Metals with drilling planned to commence in 2025 that includes the Daisy Bell tin-tungsten project where historical drilling and our mapping have identified a potentially tin-rich zone.
Company Highlights
- Tartana Minerals is producing copper sulphate pentahydrate from its heap leach – solvent extraction – crystallisation plant in Chillagoe with a 100 percent offtake agreement with Kanins International.
- Copper sulphate is priced at a premium plus a percentage of the LME copper price, providing exposure to the booming copper market
- With copper, zinc and gold resources in separate projects and all within granted or soon to be granted mining leases, the company is investigating processing options which can potentially utilise available infrastructure.
- Near-term catalysts include targeted drilling programs to increase the JORC resource and expand on metallurgical test work, increasing the resource grade and estimate
- With the copper sulphate plant fully commissioned and in production, the company is now accelerating its exploration activities. The company has a range of prospects from advanced brownfields projects near existing historical mines to many prospects containing ‘ore grade’ surface mineralisation which have not been tested at depth.
- The company’s exploration portfolio includes the Beefwood/Bulimba, Bellevue, Dimbulah, Cardross and Maid projects. The exploration team is focused on target generation, particularly with the addition of critical minerals within its existing tenure and elsewhere.
Exploration
The Chillagoe region of Far North Queensland is highly prospective with the discovery and development of a number of key projects over the last few decades including Red Dome (2.5 Moz gold), Mungana (1.2 Moz gold), and King Vol (250 kt zinc). These deposits occur along the Palmerville Fault in a similar location to the Tartana Mining leases.
The mining leases at Tartana contain copper, zinc and gold mineralisation but the company also has significant projects which are both east and west of the Palmerville Fault. In the west it has the Cardross and Mountain Maid copper-gold projects and further north it has the Beefwood project. Mountain Maid has gold resources mentioned above and which are open to the south and at depth while the company is finalising a maiden copper resource for the Cardross project.
The Beefwood project comprises a buried geophysical target and surface sampling has recovered samples grading up to 180 g/t gold with no apparent source. Drilling is planned to test this target in the current dry season.
In the east of the Palmerville Fault, the company has the Bellevue/Dry River project, the OK South project and the Dimbulah Porphyry project, all copper projects with historic copper mines and prospects. Like many parts of Far North Queensland, historical exploration has not been systematic and thorough despite many promising expressions of surface mineralisation.
At the Nightflower project, Tartana has upgraded its exploration target after reviewing its earlier estimation, in light of the recent increases in the antimony price. Nightflower is a high-grade silver-lead deposit with previously overlooked significant antimony credits. Nightflower exploration target includes 2.75 Mt @ 364 g/t silver equivalent for 32 Moz silver equivalent to 5.36 Mt @ 270 g/t silver equivalent for 47 Moz silver equivalent (the exploration target is conceptual in nature only and there is no guarantee that further exploration will define a resource). Drilling is now being planned to test the target and upgrade previously identified mineralisation to JORC 2012 reporting standards.
Tartana’s exploration team comprises experienced exploration geologists with supporting cash flow from their copper production, they expect to be able to drill the most promising targets in the short term.
Strong Macroeconomic Environment for Copper
Overall, the macroeconomic environment for copper remains strong. The LME three-month copper price hit US$5.24/lb on May 17, the highest since March 7, 2022, driven by a weaker US dollar, Chinese property stimulus measures, and a short squeeze on the Chicago Mercantile Exchange futures market.
In the near-to-mid term, China’s demand for refined copper is expected to grow, due to better-than-expected performances from key consumer segments, including the power grid, solar installations and electric vehicle and air conditioning appliance sales. On the supply side, the copper concentrate market is expected to remain in a significant deficit due to the estimated delay in the Cobre Panama mine restart but will be partially offset by the higher projected production from smelters in China. As a result, we see further demand growth and supply tightening for the copper market as positive for base metal equities to maintain significant leverage to increase prices.
Management Team
Jihad Malaeb – Chairman
Jihad Malaeb is an experienced entrepreneur across a number of industries, including hospitality and construction, as well as having significant experience in mineral exploration and mining operations – both as an active investor and company director. He currently owns and operates a portfolio of hospitality businesses and real estate across Australia, which have been established over the past 30 years. Malaeb was previously a non-executive director of Critical Resources (ASX:CRR), where he helped steer CRR as one of its largest shareholders and as a board member.
Dr. Stephen Bartrop - Managing Director
Steve Bartrop’s professional experience spans more than 30 years covering periods in both the mining industry and financial sector. With a geology background, Bartrop has worked in exploration, feasibility and evaluation studies and mining in a range of commodities and in different parts of the world. In the financial sector, he has been involved in research, corporate transactions and IPOs spanning more than 20 years, including senior roles at JPMorgan, Bankers Trust and Macquarie Equities.
Bruce Hills – Non-executive Director
Bruce Hills is an accountant and is currently an executive director of Breakaway Investment Group, which operates the Breakaway Private Equity Emerging Resources Fund. Hills is a director of a number of unlisted companies in the mining and financial services sectors including The Risk Board and Stibium Australia. Hills has 35 years’ experience in the financial sector including 20 years in the banking industry primarily in the areas of strategy, finance and risk.
Dr. Alistair Lewis – Non-executive Director
Dr. Alistair Lewis is a successful entrepreneur and highly experienced medical doctor with over 40 years’ experience. For the past 10 years, Lewis has been involved in the management of mining and exploration companies. In 2017, Lewis established Oosen Lewis Mining in North Queensland. He financed the aggregation of a substantial portfolio of gold, tin, tungsten and antimony assets and instigated subsequent extensive exploration programs. These assets now form part of the QSM portfolio.
Michael Thirnbeck – Independent Non-executive Director
Michael Thirnbeck is an experienced geologist with over 25 years in managing numerous mineral development projects in Papua New Guinea, Indonesia and Australia. He has been a member of the Australasian Institute of Mining and Metallurgy since 1989 and holds B.Sc (Hons.) degree from the University of Queensland.
Shuyi (Kiara) Wang – Non-executive Director
Shuyi (Kiara) Wang was appointed a director of Tartana Minerals on July 17, 2024. Wang is an accomplished, emerging leader with a strong academic and professional background. She holds a Bachelor of Arts majoring in Philosophy from The University of Melbourne and is currently pursuing a Juris Doctor at the prestigious Melbourne Law School.
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Copper, gold, silver and zinc, producer, explorer and developer in Far North Queensland, Australia
31 July
Quarterly Activities/Appendix 5B Cash Flow Report
13 May
Director led financing and change of Chairman
30 April
Quarterly Activities/Appendix 5B Cash Flow Report
24 April
Beefwood Project Clarification and Drilling Update
12h
Editor's Picks: Gold Price Breaks US$3,400, Silver Added to Draft US Critical Minerals List
The gold price was on the rise this week, breaking through US$3,400 per ounce once again.
It's been pushed higher by US dollar weakness, as well as Federal Reserve turmoil.
President Donald Trump has been pressuring Fed Chair Jerome Powell to cut interest rates for months, and on Monday (August 25) the situation developed further when Trump posted a letter on his social media platform Truth Social. In it, he said he was removing Lisa Cook from her position on the central bank's board of governors due to allegations of mortgage fraud.
Cook, who has been voting to hold rates steady, was due to serve until 2038; she has now filed a lawsuit asking for Trump's order to be declared "unlawful and void."
The move has spurred questions about whether Trump can actually fire her — while the Federal Reserve Act doesn't allow him to remove Fed officials at will, he can do so "for cause."
For its part, the Fed has said it will abide by any court decision.
The situation is still developing, and gold market watchers are keeping a close eye on how it plays out. The yellow metal tends to fare better when interest rates are low, and some experts believe that a rate cut from the Fed could kick off its next move higher
The Fed's next meeting is scheduled to run from September 16 to 17. Expectations are high that it will cut rates at that time, even though the latest data shows that its preferred measure of inflation, the personal consumption expenditures (PCE) price index, was up 2.6 percent year-on-year in July.
Core PCE, which excludes food and energy, saw a rise of 2.9 percent.
Bullet briefing — US drafts new critical minerals list, uranium miners make cuts
US drafts new critical minerals list
The US Department of the Interior has released a new draft critical minerals list, and the recommended additions include silver, as well as potash, silicon, copper, rhenium and lead.
Silver's potential inclusion is turning heads in the mining community as market participants assess the potential impact for the metal. The critical minerals list is designed to guide federal strategy, investment and permitting deals as the US works to lock down supply of key commodities, meaning that silver-focused companies could see benefits such as tax breaks and faster timelines.
In total, the draft list has 54 minerals, with 50 included based on results from an economic effects assessment. Three were selected on the back of a qualitative evaluation, and zirconium is there because of the potential for a single point of failure in the US supply chain.
The list was set up after a 2017 executive order from Trump and is updated every three years.
It's worth noting that silver and the other recommended additions aren't officially critical minerals yet — the draft critical minerals list was posted for public comment on Tuesday (August 26), and feedback will be accepted for 30 days. It's also worth noting that two commodities may be stripped of their critical mineral status — arsenic and tellurium have been recommended for removal.
Critical minerals lists vary from country to country based on individual needs, although in many cases they have similarities. In January 2024, a group of silver industry participants, including many major miners, sent a letter to Canada's energy and natural resources minister proposing that silver be included in the nation's critical minerals list; to date, it has not been added.
Uranium miners cut production guidance
Sweden's government has proposed the removal of the country's ban on uranium mining as it looks to reduce its reliance on imports of the energy fuel.
Uranium mining has been banned in Sweden since 2018, but the country has six operating reactors and generates around one-third of its power from nuclear energy.
The ban is set to be removed on January 1, 2026, and comes as nations increasingly look to nuclear power to fill their energy needs. It also comes amid supply questions — although demand is rising and prices are out of a years-long slump, miners have been slow to ramp back up post-Fukushima.
Just last week, Kazatomprom said it was lowering its 2026 production target compared to earlier estimates, cutting about 8 million pounds. Although the company sees stability in long-term uranium prices and strong sector fundamentals, it isn't prepared to return to 100 percent levels.
Cameco (TSX:CCO,NYSE:CCJ) made a similar statement this week, saying its 2025 output will be impacted by delays in transitioning the Saskatchewan-based McArthur River mine to new mining areas. Production will be 4 million to 5 million pounds lower, although there is a chance for Cigar Lake to partially offset that loss.
Want more YouTube content? Check out our expert market commentary playlist, which features interviews with key figures in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.
And don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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12h
Top 5 Canadian Mining Stocks This Week: Trifecta Shines with 117 Percent Gain
Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.
Statistics Canada released its second-quarter gross domestic product (GDP) figures on Friday (August 29). The data showed that the Canadian economy shrank 0.4 percent in the second quarter and declined 1.6 percent on an annualized basis. The decrease comes following first-quarter gains of 0.5 percent and a 2 percent annualized increase.
Much of the decrease was attributed to a 7.5 percent drop in exports compared to Q1. Canadian exports had risen 1.4 percent in the first three months of the year as US companies increased imports to get ahead of incoming tariffs.Excluding the lower costs at the pumps, CPI remained steady at 2.5 percent, the same increase as May and June.
On an industry level, new monthly data for June shows that the resource sector grew by 0.1 percent after two months of declines, primarily driven by a 2.6 percent gain in the oil and gas subsector, with oil sands extraction rising 6.4 percent over May. However, gains were offset by a 9.7 percent monthly decline in support activities for the resource sector, its largest drop in five years, led by reduced rigging and drilling activities.
South of the border, the US Bureau of Economic Analysis released its second estimate for Q2 real GDP on Thursday (August 28). The data shows that US GDP grew by 3.3 percent during the quarter, 0.3 percent higher than its advance estimate.
According to the agency, the figure reflects a decrease in imports and an increase in consumer spending. The GDP’s upward momentum was tempered by a 13.8 percent decrease in private domestic investment, marking the most significant decline since 2020, during the pandemic.
The growth follows a 0.5 percent decrease in the first quarter of 2025, which saw a significant rise in imports.
This week also saw US President Donald Trump attempt to remove US Federal Reserve Board of Governors member Lisa Cook. Trump justified the decision based on Federal Housing Finance Agency Director Bill Pulte's claim that Cook claimed primary residence in two mortgage applications submitted weeks apart in 2021. She was confirmed to the Fed Board of Governors in May 2022.
Cook is fighting the move in court, with her lawyer stating that Trump's unsubstantiated allegation of an event prior to Cook's confirmation does not meet the "cause" required by the Federal Reserve Act to remove a governor. By the end of the day on Friday, the judge hearing the case did not reach a decision on whether to issue a temporary restraining order that would allow Cook to remain in her role during the case.
Pulte has previously made similar allegations against other prominent Democrats, including California Senator Adam Schiff, a vocal critic of Trump, and New York Attorney General Letitia James, who oversaw a civil suit against Trump that resulted in a US$500 million award.
Trump has been eager to reshape the Federal Reserve Board and has hinted that he would like to replace Chairman Jerome Powell before his term ends in 2026. Trump believes the Fed has not been acting quickly enough to lower interest rates and stimulate the economy.
Markets and commodities react
Canadian equity markets were largely unfazed by Canada’s weak GDP data. In fact, the S&P/TSX Composite Index (INDEXTSI:OSPTX) set a new record on Friday, closing the week up 1.73 percent to 28,564.45. The S&P/TSX Venture Composite Index (INDEXTSI:JX) did even better, climbing 5.36 percent to finish Friday at 829.57. The CSE Composite Index (CSE:CSECOMP) fell 0.45 percent on Friday following the StatsCan release, but gained 4.17 percent overall during the week to 166.9.
US equity markets also posted gains this week, but fell from record highs on Friday following a selloff of tech stocks. The S&P 500 (INDEXSP:INX) was up 1.19 percent to 6,460.25, while the Nasdaq 100 (INDEXNASDAQ:NDX) rose 0.99 percent to 23,415.42. Meanwhile, the Dow Jones Industrial Average (INDEXDJX:.DJI) gained 1.32 percent on the week to 45,631.73.
The gold price gained 3.19 percent this week on expectations of a September rate cut by the Federal Reserve, reaching US$3,448.15 per ounce by 4:00 p.m. EDT on Friday. Silver ended the week with a larger gain of 4.2 percent, nearly crossing the US$40 per ounce mark in morning trading before settling at US$39.74 per ounce.
Copper also saw some upward movement, gaining 1.1 percent to US$4.59 per pound. The S&P GSCI (INDEXSP:SPGSCI) commodities index posted an increase of 1.3 percent by close on Friday, finishing at 549.70.
Top Canadian mining stocks this week
How did mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Canadian mining stocks below.
Stocks data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView's stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
1. Trifecta Gold (TSXV:TG)
Weekly gain: 117.24 percent
Market cap: C$23.77 million
Share price: C$0.63
Trifecta Gold is a gold exploration company focused on a portfolio of 11 properties in the Tombstone gold belt in the Yukon, Canada.
Its most advanced is its flagship Mt. Hinton gold-silver project, located near Hecla Mining's (NYSE:HL) Keno Hill silver mine. The company’s project page indicates that vein float samples collected in January 2023 show grades of up to 273 grams per metric ton (g/t) gold.
The company has also been advancing exploration work at its Rye property, which hosts a gold-bismuth soil anomaly, as well as several gold-rich veins.
Shares in Trifecta rose this week alongside news on Thursday that the company had commenced its inaugural drill program at Rye, completing 970 meters across three holes. The announcement reported that the first hole intersected a high density of sheeted quartz veins.
The company said preliminary rock samples collected from the site earlier in 2025 returned multiple assays with greater than 5 g/t gold, including one highlight with 21.1 g/t gold and 8,550 parts per million (ppm) bismuth.
2. Consolidated Lithium Metals (TSXV:CLM)
Weekly gain: 100 percent
Market cap: C$13.98 million
Share price: C$0.04
Consolidated Lithium is an exploration and development company working to advance a portfolio of hard rock lithium projects in Quebéc, Canada.
Its most advanced asset is the Vallée lithium project, a 75/25 joint venture between Consolidated and Sayona Mining (ASX:SAY,OTCQB:SYAXF). The project is located in the Abitibi Greenstone Belt adjacent to and along strike of Sayona’s and Piedmont Lithium (NASDAQ:PLL) North American Lithium mining operation. According to the company’s project page, the Vallée property hosts multiple lithium-bearing pegmatites over a 1 kilometer strike length.
Consolidated announced on Wednesday (August 27) that it signed a letter of intent with the Government of Quebéc-owned Soquem to earn an 80 percent interest in the Kwyjibo rare earth project, located in the Côte-Nord region of the province.
Under the terms of the letter, Consolidated can earn up to an 80 percent interest in the project through two phases, in return for a combination of cash payments, shares in Consolidated and project investments.
A 2017 preliminary economic assessment for Kwyjibo reports project economics including an after-tax net present value of C$373.9 million and an internal rate of return of 17.8 percent, with a payback period of 3.6 years.
3. Electric Metals (TSXV:EML)
Weekly gain: 68.75 percent
Market cap: C$44.34 million
Share price: C$0.27
Electric Metals is a mineral development company focused on advancing its flagship North Star manganese project in Minnesota, US. According to the company, the asset is North America’s highest-grade manganese resource. It plans to produce high-purity manganese sulphate monohydrate for lithium-ion batteries.
The most recent news from Electric Metals was released on Tuesday, when it announced a preliminary economic assessment for the project. The assessment demonstrated a base-case after-tax net present value of US$1.39 billion, with an internal rate of return of 43.5 percent and a payback period of 23 months. and suggested an average annual after-tax cash flow of US$249.6 million.
The report also included an updated mineral resource estimate with an indicated resource of 7.6 million metric tons of ore grading 19.07 percent manganese, 22.33 percent iron and 30.94 percent silicon, and an inferred resource of 3.73 million metric tons of ore grading 17.04 percent manganese, 19.04 percent iron and 30.03 percent silicon.
4. Sage Potash (TSXV:SAGE)
Weekly gain: 58.33 percent
Market cap: C$31.93 million
Share price: C$0.38
Sage Potash is a potash exploration company currently working to advance its portfolio of mineral holdings in Utah’s Paradox Basin in the US.
Historic oil and gas exploration in the basin dating back a century discovered the potential for the potash beds, but they were too deep for mining methods at the time. Sage has since confirmed their presence through its own exploration.
In a revised technical report from February 2023, the company reported an inferred mineral resource estimate of up to 159.3 million metric tons of in-place sylvinite from the upper potash bed and up to 120.2 million metric tons of sylvinite from the lower potash bed.
On August 14, Sage announced that Stockwell Day had joined the company board. Day served several ministerial roles for the Canadian government under Prime Minister Stephen Harper, including as President of the Treasury Board and Minister of International Trade.
This was followed by news on Wednesday that Day had been granted 600,000 stock options at an exercise price of C$0.30 per share and would remain valid for a period of five years.
Sage's share price spiked earlier this week after the US Government added potash in its draft of an updated list of critical minerals.
5. Kincora Copper (TSXV:KCC)
Weekly gain: 58.33 percent
Market cap: C$24.8 million
Share price: C$0.095
Kincora Copper is an exploration company operating under a project generator model and partnering with other companies to advance its portfolio, including copper-gold projects in the Macquarie Arc of New South Wales, Australia.
Among them is the Northern Junee-Narromine Belt (NJNB) land package, which is covered by a May 2024 earn-in agreement that could see AngloGold Ashanti (NYSE:AU,JSE:ANG) earn up to an 80 percent interest in the Nyngan and Nevertire licenses through AU$50 million in exploration expenditures or AU$25 million for exploration and the completion of a pre-feasibility study.
Kincora secured a second agreement with AngloGold Ashanti in April for the Nyngan South, Nevertire South and Mulla licenses with similar terms, bringing the total exploration funding to AU$100 million.
On Monday (August 25), Kincora announced results from the first drilling program at the Nyngan project, noting that assays support the potential for porphyry copper and epithermal gold, and that it saw "encouraging results at particularly shallow depths" from drill targets identified by a ground gravity survey earlier this year.
Additionally, Kincora said that drilling is ongoing at the Nevertire South and Nevertire projects, with the initial program planned for seven holes and 2,150 meters.
FAQs for Canadian mining stocks
What is the difference between the TSX and TSXV?
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
How many mining companies are listed on the TSX and TSXV?
As of May 2025, there were 1,565 companies listed on the TSXV, 910 of which were mining companies. Comparatively, the TSX was home to 1,899 companies, with 181 of those being mining companies.
Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.
How much does it cost to list on the TSXV?
There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.
The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.
These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.
How do you trade on the TSXV?
Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange's trading hours.
Article by Dean Belder; FAQs by Lauren Kelly.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
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28 August
Earthwise Advertising & Investor Awareness Campaign
Earthwise Minerals Corp. (CSE:WISE)(FSE:966) ("Earthwise" or the "Company) is pleased to announce ithas entered into an advertising and investor awareness campaign with Dig Media Inc. dba Investing News Network ("INN"). For the 12-month term of the agreement starting June 27,2025 and ending June 27, 2026.
INN will provide advertising on its website www.investingnews.com to increase awareness of the Company. The cost of the campaign is CAD $21.000. There is no other relationship between Earthwise and INN. INN does not provide investor relations or market-making services. INN is based in Vancouver, BC, and can be reached at 604-688-8231 or info@investingnews.com.
About Earthwise Minerals
Earthwise Minerals Corp. (CSE: WISE; FSE: 966) is a Canadian junior exploration company focused on advancing the Iron Range Gold Project in southeastern British Columbia near Creston, B.C. The Company holds an option to earn up to an 80% interest in the fully permitted project, which is road-accessible and situated within a prolific mineralized corridor. The property covers a 10 km x 32 km area along the Iron Range Fault System and hosts multiple high-grade gold showings and large-scale geophysical and geochemical anomalies.
For more information, visit www.earthwiseminerals.com.
EARTHWISE MINERALS CORP.,
ON BEHALF OF THE BOARD
"Mark Luchinski"
Contact Information:
Mark Luchinski
Chief Executive Officer, Director
Telephone: (604) 506-6201
Email: luch@luchccorp.com
Forward Looking Statements
This news release includes statements that constitute "forward-looking information" as defined under Canadian securities laws ("forward-looking statements") including, without limitation, statements respecting the Offering and the intended use of proceeds therefrom. Statements regarding future plans and objectives of the Company are forward looking statements that involve various degrees of risk. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in its forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance, and actual outcomes may differ materially from those in forward-looking statements. Additional information regarding the various risks and uncertainties facing the Company are described in greater detail in the "Risk Factors" section of the Company's annual management's discussion and analysis and other continuous disclosure documents filed with the Canadian securities regulatory authorities which are available at www.sedarplus.ca. The Company undertakes no obligation to update forward-looking information except as required by applicable law. The reader is cautioned not to place undue reliance on forward-looking statements.
For more information, please contact Mark Luchinski, Chief Executive Officer and Director, at luch@luchccorp.com or (604) 506-6201.
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27 August
Fish Underground drilling underway for mine life extensions
Brightstar Resources (BTR:AU) has announced Fish Underground drilling underway for mine life extensions
27 August
John Hathaway: Gold Price Can Double, This Factor Isn't Priced In
John Hathaway, managing partner at Sprott (TSX:SII,NYSE:SII) and senior portfolio manager at Sprott Asset Management USA, shares his outlook for gold, including how high it could go.
"In my opinion, the gold price could more than double," he said.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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27 August
Navigating Uncertainty: How Trump's Tariffs Are Affecting the Gold Market
The gold price has been on the rise in 2025 as a slew of factors work in its favor.
Central bank buying has long been a key point of support, as has escalating conflict in the Middle East and elsewhere. A newer addition is tariff tensions as the Trump administration fleshes out trade policies.
The gold price has benefited from safe-haven demand amid the turmoil, but concerns that the yellow metal itself might face tariffs have also impacted the sector as industry insiders react to uncertainty.
Read on to learn how tariffs have affected the gold market and price so far.
How have tariffs affected the gold price?
The gold price has been on the rise since the beginning of the year. After briefly touching the US$3,500 per ounce level in May, it has pulled back and was trading just under US$3,400 as of Tuesday (August 26).
Gold price, January 1 to August 26, 2025.
Chart via TradingEconomics.
Although some of its increase is attributable to the points mentioned above, a significant portion is owed to a lack of information surrounding US President Donald Trump’s tariff policies.
Initially there was no clarity on what or who was being tariffed, or when the levies would ultimately be implemented, and investors started to move into gold for greater stability and portfolio diversification.
Uncertainty about whether gold would be tariffed also had an effect, prompting traders in the US to import physical gold; this created a price differential between New York futures and the London spot price.
Concerns dissipated as the Trump administration began to nail down tariffs, but were reignited once again when US Customs and Border Patrol posted a ruling on July 31 indicating that the 39 percent tariffs against imports from Switzerland would include 1 kilogram and 100 ounce gold bars.
The news caused spot gold to spike more than 3 percent, from US$3,290 to US$3,398, and sent December futures to an all-time high of US$3,549. Meanwhile, traders halted imports of Swiss bars.
After several days of turmoil, Trump said the ruling was incorrect, and the bars would not be included in the tariff measures being applied to other Swiss imports; the gold price then retreated.
How would gold tariffs have impacted the market?
Gold functions as both a commodity and an essential part of the world’s financial system.
One kilogram and 100 ounce gold bars are used to back futures trading, and regular shipments of the metal are needed to settle contracts once they come due. A 39 percent tariff on gold from Switzerland would have been particularly disruptive, as Swiss refineries account for approximately 70 percent of the world’s gold.
According to the UN Comtrade database, in 2024, Switzerland exported more than 1,400 metric tons of unwrought gold worth more than US$106 billion, representing nearly 30 percent of the country’s total exports. Tariffs would have forced US buyers to pay a significant premium for the precious metal versus buyers in London or Shanghai.
Because gold is often used as a store of value in times of uncertainty, any kind of disruption could have had broader implications for investors looking to add stability to their portfolios.
In an email to the Investing News Network (INN), Lauren Saidel-Baker, CFA, an economist with ITR Economics, explained that gold stands out as a unique investment mechanism:
“There are psychological nuances to gold, which is commonly viewed as a safe store of value during uncertain times and an inflation hedge. Overall, the tariff would have added another facet to the already elevated policy uncertainty."
If the tariffs had remained in place, the US gold price would have had to rise to around US$4,700 per ounce to cover levies, while international prices would have remained closer to the US$3,500 mark.
“Tariffs have already complicated supply chains across industries, and this gold tariff would have been another example of added cost and complexity — but in this case, one with the potential to more directly impact investment activities,” Saidel-Baker went on to explain, emphasizing that US investors would have felt the pinch.
Could gold tariffs happen in the future?
Given Trump's unpredictability, especially when it comes to tariffs, it's possible that gold levies could enter the conversation again. However, by and large experts agree that the matter is closed.
“I think it’s pretty clear at this point that there’s no intention to put tariffs on physical gold imports, and I think that would be very damaging and destructive if they did,” Stefan Gleason, CEO of Money Metals, told INN.
Keith Weiner, founder and CEO of Monetary Metals, offered another perspective, saying that although the gold tariff threat is over, the tumult could have long-term effects on the market.
"Once you've put the scare into everybody, you can't just say, 'Oh, sorry, just kidding.' You can't really do that. And so now we've done damage, and we'll see what happens to that spread over time. We'll see how users of the futures market adapt. There are other markets in the world that would be competing for," he explained.
"This hedging business, you know, maybe it moves to Singapore, maybe it moves to Dubai, maybe it moves to London, and the US loses not only a little more trust, but also a little bit of volume on what had been the biggest — or what is currently the biggest — futures market," Weiner added to INN.
Market participants will be watching closely for future impacts on the yellow metal.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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