Category: Natural Resources

Gold Near Record Highs as Analysts Lift Year-End Price Targets to $5,400

Posted on by slightbourne@noblecapitalmarkets.com

Gold prices continue to hover near record territory as bullish momentum in the precious metals market shows little sign of slowing. Spot gold recently traded above $4,870 per ounce, extending a powerful rally that has already delivered gains of roughly 11% year to date and follows a nearly 65% surge in 2025. The sustained strength has prompted analysts to raise year-end 2026 price targets to as high as $5,400 per ounce, reflecting growing confidence in gold’s long-term demand outlook.

Market analysts point to a notable shift in demand dynamics as a key driver behind the higher forecasts. While central bank buying fueled much of gold’s advance in 2023 and 2024, private-sector investors are now emerging as a dominant force. This influx of capital has intensified competition for limited physical supply, reinforcing upward price pressure and reducing the likelihood of meaningful pullbacks in the near term.

Analysts also note that many of these private buyers — including institutional investors, high-net-worth families, and asset managers — are positioning gold as a strategic allocation rather than a short-term trade. As a result, selling pressure remains muted, even as prices approach historic highs.

Why Gold Is Rallying

Several structural and cyclical factors continue to support gold’s ascent:

  • Central bank accumulation: Global central banks remain steady buyers of gold as they diversify reserves away from traditional fiat currencies and hedge against geopolitical risk.
  • Private-sector diversification: Investors are increasing exposure through ETFs and physical bullion as portfolio diversification becomes a priority amid market uncertainty.
  • Monetary policy tailwinds: Federal Reserve rate cuts and expectations of looser financial conditions have lowered real yields, making non-yielding assets like gold more attractive.
  • Currency debasement concerns: Persistent fiscal deficits and long-term inflation risks have renewed interest in gold as a store of value, particularly among wealthy investors.
  • Geopolitical uncertainty: From trade disputes to shifting global alliances, gold has consistently rallied during periods of heightened geopolitical tension, reinforcing its safe-haven appeal.

Although gold futures briefly dipped overnight following recent political developments, prices quickly rebounded toward record levels as buyers returned. Analysts say this pattern of shallow pullbacks followed by rapid recoveries reflects strong underlying demand and limited downside risk.

Gold has now gained roughly 11% year to date, building on its nearly 65% advance in 2025. The metal has responded positively to nearly every major geopolitical headline this year, underscoring its role as a hedge against both financial and political instability.

Looking ahead, analysts see risks to their updated forecasts as skewed to the upside, particularly if global policy uncertainty persists or investor diversification accelerates further. While volatility remains possible, gold’s structural support appears firmly in place.

For investors, gold’s performance highlights its evolving role beyond crisis protection. Increasingly, it is being treated as a core portfolio component — valued not only for downside protection, but also for its ability to preserve purchasing power and deliver long-term resilience in an uncertain global environment.

Trump’s NATO Deal Opens Greenland to US Missiles and Mining

Posted on by slightbourne@noblecapitalmarkets.com

President Donald Trump’s abrupt de-escalation of tariff threats against Europe came with a significant strategic tradeoff: a NATO-centered framework that would dramatically expand the United States’ military and economic footprint in Greenland. While the agreement stops short of addressing sovereignty, it lays the groundwork for US missile deployments, expanded NATO activity in the Arctic, and American access to critical mineral resources—moves aimed squarely at countering Russian and Chinese influence in the region.

The outlines of the deal emerged after Trump met NATO Secretary General Mark Rutte at the World Economic Forum in Davos. According to European officials briefed on the talks, the framework focuses on Arctic security cooperation, including stationing US missile systems in or around Greenland and granting the US preferential mining rights to prevent Chinese firms from gaining a foothold. In exchange, Trump agreed to suspend planned tariffs on European nations that had threatened to fracture transatlantic relations.

For NATO, the agreement reflects growing urgency around the Arctic. Melting ice is opening new sea lanes that could provide strategic access between the Pacific and Atlantic, raising alarms about potential military and commercial exploitation by rival powers. Rutte has emphasized that Greenland sits at the center of this shift, making it critical to alliance defense planning. Strengthening NATO’s presence there would help monitor emerging routes, protect undersea infrastructure, and deter hostile activity.

Crucially, the framework avoids any discussion of transferring sovereignty over Greenland, a semi-autonomous territory of Denmark. That omission marks a notable shift from Trump’s earlier rhetoric, which repeatedly suggested US acquisition of the island. Danish Prime Minister Mette Frederiksen has been firm that Greenland is not for sale, stressing that any arrangement must respect international law and Danish sovereignty. NATO officials have echoed that position, framing the deal as a security partnership rather than a territorial negotiation.

Still, Trump has portrayed the outcome as a decisive win. In interviews following the Davos meeting, he claimed the US would gain “total access” to Greenland for security purposes, with no clear time limits. While the details remain vague, officials say the framework could involve updating a 1951 defense agreement that already grants the US broad latitude to operate militarily in Greenland under NATO auspices.

Beyond missiles and bases, mining rights represent a key economic dimension. Greenland holds significant deposits of rare earths and other critical minerals essential to advanced manufacturing, clean energy, and defense systems. By securing access for US or allied companies, the deal would aim to keep Chinese interests—currently dominant in global rare-earth supply chains—out of the Arctic resource race.

The agreement, however, is far from finalized. Danish leaders have cautioned that NATO’s secretary general has no mandate to negotiate on Denmark’s behalf, and Greenland’s own government remains wary. Trump’s earlier threats and aggressive language have fueled anxiety among Greenlanders, with local leaders warning residents to remain vigilant even if the likelihood of conflict is low.

For investors and policymakers alike, the emerging framework underscores how geopolitics, critical minerals, and defense strategy are converging in the Arctic. Whether the deal evolves into a durable alliance agreement or stalls amid political backlash will shape not only NATO’s northern posture, but also the balance of power in one of the world’s fastest-changing strategic frontiers.

Energy Fuels to Acquire Australian Strategic Materials, Creating Largest Ex-China Rare-Earth Producer

Posted on by slightbourne@noblecapitalmarkets.com

Energy Fuels Inc. (NYSE: UUUU) announced plans to acquire Australian Strategic Materials Limited (ASX: ASM) in a move that will create what the company touts as the largest fully integrated rare-earth element (REE) producer outside of China. The transaction, valued at approximately US$299 million (A$447 million), positions Energy Fuels as a vertically integrated “mine-to-metal & alloy” REE champion, addressing critical gaps in global supply chains for magnets used in automotive, robotics, energy, and defense applications.

The acquisition will combine ASM’s operating Korean Metals Plant (KMP) and its planned American Metals Plant (AMP) with Energy Fuels’ existing REE oxide production at the White Mesa Mill in Utah, the only U.S. facility capable of separating monazite concentrates into both light and heavy REE oxides. ASM’s KMP is one of the few facilities outside China producing REE metals and alloys, including neodymium-praseodymium (NdPr), dysprosium (Dy), and terbium (Tb), along with neodymium-iron (NdFeB) and dysprosium-iron (DyFe) alloys.

By combining low-cost REE separation with downstream metal and alloy conversion, Energy Fuels expects to enhance vertical integration, margin capture, and market share across the rare-earth value chain. The acquisition addresses one of the most persistent vulnerabilities in ex-China REE supply chains: limited downstream refining and alloy production capacity.

Energy Fuels will also gain access to ASM’s Dubbo REE Project in New South Wales, Australia, further expanding its pipeline of REE development projects. These include the Donald project in Victoria, Australia, the Vara Mada project in Madagascar, and the Bahia project in Brazil, all aimed at supplying feed materials for the White Mesa Mill expansion. Post-expansion, White Mesa is planned to produce 6,000 tonnes per annum (tpa) of NdPr oxides, 240 tpa of Dy, and 66 tpa of Tb oxides, while the planned AMP in the U.S. is expected to produce 2,000 tpa of REE alloys.

Mark S. Chalmers, CEO of Energy Fuels, emphasized the strategic rationale, stating, “The proposed acquisition of Australian Strategic Materials brings us much closer to our goal of creating the largest fully integrated producer of REE materials outside of China. This transaction expands our suite of REE products, strengthens our ex-China supply chain position, and provides increased margins, cashflows, and market share for our shareholders.”

ASM shareholders will receive 0.053 Energy Fuels shares or CHESS Depository Interests per ASM share, plus a special dividend of up to A$0.13, representing a total implied value of A$1.60 per share. Post-closing, ASM shareholders will own roughly 5.8% of Energy Fuels’ outstanding shares. The transaction remains subject to ASM shareholder approval, regulatory approvals in Australia, and customary closing conditions, with implementation expected by late June 2026.

For small-cap investors, this acquisition highlights the potential value of vertically integrated rare-earth companies in securing strategic market positions. By combining production of REE oxides, metals, and alloys, Energy Fuels not only reduces reliance on China but also enhances its long-term growth potential in a high-demand sector crucial to green energy, electronics, and defense applications.

Power Metallic Mines Inc. (PNPNF) – From Legacy Nickel to District-Scale Polymetallic System

Posted on by slightbourne@noblecapitalmarkets.com


Wednesday, January 21, 2026

Power Metallic is a Canadian exploration company focused on advancing the Nisk Project Area (Nisk–Lion–Tiger)—a high–grade Copper–PGE, Nickel, gold and silver system—toward Canada’s next polymetallic mine. On 1 February 2021, Power Metallic (then Chilean Metals) secured an option to earn up to 80% of the Nisk project from Critical Elements Lithium Corp. (TSX–V: CRE). Following the June 2025 purchase of 313 adjoining claims (~167 km²) from Li–FT Power, the Company now controls ~212.86 km² and roughly 50 km of prospective basin margins. Power Metallic is expanding mineralization at the Nisk and Lion discovery zones, evaluating the Tiger target, and exploring the enlarged land package through successive drill programs. Beyond the Nisk Project Area, Power Metallic indirectly has an interest in significant land packages in British Columbia and Chile, by its 50% share ownership position in Chilean Metals Inc., which were spun out from Power Metallic via a plan of arrangement on February 3, 2025. It also owns 100% of Power Metallic Arabia which owns 100% interest in the Jabul Baudan exploration license in The Kingdon of Saudi Arabia’s JabalSaid Belt. The property encompasses over 200 square kilometres in an area recognized for its high prospectivity for copper gold and zinc mineralization. The region is known for its massive volcanic sulfide (VMS) deposits, including the world-class Jabal Sayid mine and the promising Umm and Damad deposit.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Initiating Coverage with an Outperform rating. Power Metallic Mines Inc. (OTCQB: PNPNF, TSXV: PNPN) is a Québec-based mineral exploration company advancing a high-grade polymetallic discovery that has evolved into a district-scale opportunity. Recent discoveries at the Nisk Project have shifted the investment thesis from a legacy nickel-sulphide asset to a high-grade copper-platinum group elements (PGE), nickel, gold, and silver system with emerging scale and continuity. Target metals, including copper, nickel, cobalt, platinum, and palladium, are integral to electrification, industrial manufacturing, and critical mineral markets. Our price target is US$2.65 per share or C$3.65 per share.

Lion Zone Discovery. The investment case is anchored by the Lion Zone, a high-grade, copper-dominant orthomagmatic polymetallic discovery that represents the core value driver within the broader Nisk land package. Drilling at Lion has returned exceptional grades, including 11.6 meters grading 8.3% copper, 9.6 g/t palladium, and 2.6 g/t platinum, materially enhancing the project’s value profile beyond nickel alone. Follow-up drilling at the nearby Tiger Zone has confirmed the presence of similar mineralization along trend, supporting the interpretation that Lion-style mineralization is repeatable rather than isolated.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Alliance Resource Partners, L.P. Announces Fourth Quarter 2025 Earnings Conference Call

Posted on by aweinsoff@channelchek.com

Research News and Market Data on ARLP

January 20, 2026

TULSA, Okla.–(BUSINESS WIRE)– Alliance Resource Partners, L.P. (NASDAQ: ARLP) will report its fourth quarter 2025 financial results before the market opens on Monday, February 2, 2026. Alliance management will discuss these results during a conference call beginning at 10:00 a.m. Eastern that same day.

To participate in the conference call, dial U.S. Toll Free (877) 407-0784 and request to be connected to the Alliance Resource Partners, L.P. earnings conference call. International callers should dial (201) 689-8560 and request to be connected to the same call. Investors may also listen to the call via the “Investors” section of ARLP’s website at www.arlp.com.

An audio replay of the conference call will be available for approximately one week. To access the audio replay, dial U.S. Toll Free (844) 512-2921; International Toll (412) 317-6671 and request to be connected to replay using access code 13757920.

About Alliance Resource Partners, L.P.

ARLP is a diversified energy company that is currently the second largest coal producer in the eastern United States, supplying reliable, affordable energy domestically and internationally to major utilities, metallurgical and industrial users. ARLP also generates operating and royalty income from mineral interests it owns in strategic coal and oil & gas producing regions in the United States. In addition, ARLP is positioning itself as a reliable energy partner for the future by pursuing opportunities that support the growth and development of energy and related infrastructure.

News, unit prices and additional information about ARLP, including filings with the Securities and Exchange Commission (“SEC”), are available at www.arlp.com. For more information, contact the investor relations department of ARLP at (918) 295-7673 or via e-mail at investorrelations@arlp.com.

Investor Relations Contact
Cary P. Marshall
Senior Vice President and Chief Financial Officer
(918) 295-7673
investorrelations@arlp.com

Source: Alliance Resource Partners, L.P.

Worthington Steel to Acquire Kloeckner & Co in Transformative $2.4 Billion Deal

Posted on by slightbourne@noblecapitalmarkets.com

Worthington Steel announced it has entered into a business combination agreement to acquire Germany-based Kloeckner & Co, a move that will significantly reshape the North American metals processing landscape. The all-cash transaction positions Worthington Steel as the second-largest steel service center company in North America by revenue and marks a major expansion of its global footprint.

The acquisition brings together two highly complementary metal processing businesses with a combined revenue base of approximately $9.5 billion. Kloeckner & Co operates roughly 110 service center and processing locations across North America and Europe and offers a broad range of products, including carbon flat-roll steel, electrical steel, aluminum, stainless steel, and long products. In recent years, Kloeckner has increasingly focused on higher value-added processing and fabrication, aligning closely with Worthington Steel’s strategic priorities.

Worthington Steel expects the transaction to generate approximately $150 million in annual run-rate synergies, primarily through cost efficiencies, operational improvements, and commercial optimization in North America. These synergies are anticipated to be fully realized by the end of the company’s fiscal year 2028. The deal is expected to be substantially accretive to earnings per share within the first full year of operation.

“This is a strategic and transformative step in Worthington Steel’s growth journey,” said President and CEO Geoff Gilmore. He emphasized that the combination will strengthen customer relationships, expand product offerings, and create new growth opportunities for employees, while reinforcing a shared commitment to safety, quality, and operational excellence.

The transaction values Kloeckner & Co at an enterprise value of approximately $2.4 billion, representing an EV/EBITDA multiple of about 8.5x based on trailing twelve-month results, and roughly 5.5x when factoring in expected synergies. Worthington Steel expects the combined company to maintain margins above 7% while tripling its scale in terms of sales.

The acquisition will be executed through a voluntary public tender offer in Germany, with Kloeckner shareholders receiving €11 in cash per share. The offer is supported by SWOCTEM GmbH, Kloeckner’s largest shareholder, which owns approximately 42% of outstanding shares and has committed to tender its stake. Kloeckner’s management and supervisory boards have expressed support for the transaction, and the current leadership team is expected to remain in place following completion.

Financing for the acquisition will come from a combination of cash on hand and new debt, with the offer fully underwritten and not subject to financing conditions. Worthington Steel expects pro forma net leverage to be around 4.0x at closing, with a stated goal of reducing leverage below 2.5x within 24 months through deleveraging and synergy realization.

Completion of the transaction is subject to regulatory approvals and a minimum acceptance threshold of 65% of Kloeckner’s shares, with closing expected in the second half of 2026. If completed, the deal will create a more diversified, resilient metals processing leader with expanded geographic reach across North America and Europe, positioning Worthington Steel for accelerated long-term growth.

Nicola Mining Inc. (HUSIF) – Preparing for Growth: Expanding Milling Capacity

Posted on by slightbourne@noblecapitalmarkets.com


Thursday, January 15, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Upsized Private Placement Financing. Due to strong support from shareholders and new institutional investors, Nicola Mining upsized its previously announced non-brokered private placement from C$1.0 million to C$3.0 million with the issuance of up to a total of ~3.3 million units at a price of C$0.90 per unit, including ~1.1 million issued during the first closing on the same terms. Each unit will consist of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of C$1.10 per share for a period of three years following the closing of the offering. The expiry of the warrants may be accelerated subject to certain conditions.

Use of Proceeds. Nicola’s Merritt Mill is the sole facility in British Columbia permitted to receive and process third-party gold and silver feed from across the province. Funds generated from the financing will be used for the purchase and installation of milling equipment to expand Merritt Mill processing capacity from ~200 tonnes per day to ~500 tonnes per day, the addition of a secondary ball mill, supplementary cleaner flotation cells, and associated pumping infrastructure. Spare bowl and mantle assemblies may be procured to support routine crusher maintenance and ensure operational reliability.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Metals at Record Highs: A Warning Sign for the Economy?

Posted on by slightbourne@noblecapitalmarkets.com

When virtually every metal on the commodities board flashes red-hot price signals simultaneously, savvy investors know to pay attention. Today’s market presents exactly that scenario, with precious and industrial metals alike reaching or approaching all-time highs—a phenomenon that historically precedes significant economic turbulence.

Gold continues setting fresh records, trading around $4,650 per ounce today after gaining roughly 73% over the past year. But gold’s ascent tells only part of the story. Silver has exploded to around $92 per ounce, marking an extraordinary 200% year-over-year surge. Platinum has climbed to approximately $2,411 per ounce, up 158% from last year, while palladium has nearly doubled, rising about 100% to trade near $1,907 per ounce.

The industrial metals complex mirrors this feverish activity. Copper smashed through $13,300 per metric ton today, marking a 38-40% year-over-year gain and setting new all-time highs. The surge reflects both AI-driven infrastructure demand and tariff-induced inventory stockpiling, with U.S. COMEX inventories ballooning from under 100,000 metric tons to over 500,000 metric tons in just one year.

When both safe-haven metals and industrial commodities rally simultaneously, it signals a dangerous market dynamic. Precious metals typically surge when investors flee traditional assets, seeking refuge from inflation, currency devaluation, or geopolitical instability. Industrial metals, conversely, usually rise on strong economic demand. Their concurrent ascent suggests investors are hedging against economic chaos while supply disruptions create artificial scarcity.

Base metal prices fall by around 30% on average during recessions, according to analysis from major financial institutions. The current recession risk for 2025 stands at 60%, with tariff-driven cuts to economic growth forecasts prompting analysts to turn bearish on near-term base metals prices. The mining sector itself appears to be pricing in recessionary conditions already.

The rally’s drivers paint a troubling picture. Supply disruptions from mining accidents and labor strikes have constrained copper output globally. Federal Reserve independence concerns following a criminal investigation into Chair Jerome Powell have driven safe-haven demand. Meanwhile, geopolitical flashpoints from Venezuela to Iran add fuel to the fire. Central bank gold purchases and rate cut expectations signal policymakers’ own concerns about economic stability.

History offers a stark lesson. Similar across-the-board metal rallies preceded the 2008 financial crisis and the early 1980s stagflation. When prices become untethered from fundamental demand and instead reflect fear, speculation, and monetary desperation, corrections inevitably follow—often accompanied by broader economic pain.

For small-cap investors, this environment demands defensive positioning. Companies with strong balance sheets, minimal commodity exposure, and recession-resistant business models deserve premium valuations. The metals market is flashing a warning sign that prudent investors ignore at their peril.

Release – Century Lithium Strengthens Team With Appointment of Dr. Cormac O’Laoire as Strategic Advisor

Posted on by aweinsoff@channelchek.com

Research News and Market Data on CYVDF

January 14, 2026 – Vancouver, Canada – Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (“Century Lithium” or “the Company”) is pleased to announce the appointment of Cormac O’Laoire, PhD, as Strategic Advisor to Century Lithium.

“Cormac brings extensive experience across the lithium-ion battery ecosystem and a practical understanding of how lithium projects integrate into the global battery supply chain,” said Bill Willoughby, President and Chief Executive Officer of Century Lithium. “His perspective will support the Company as it advances Angel Island and evaluates downstream and strategic considerations.”

Dr. O’Laoire is a recognized expert in the lithium-ion battery ecosystem, with more than 20 years of experience at the intersection of lithium mining, chemical refining, and battery technology. He has worked closely with governments, global battery manufacturers, and leading materials suppliers to support the scaling production of critical battery minerals.

Currently, Dr. O’Laoire is the Managing Director of Electrios Energy, where he advises on lithium supply chains, with a particular focus on the technical and commercial challenges of refining lithium into high-purity, battery-grade lithium carbonate. His background includes research with the US Department of Energy, as well as experience related to lithium carbonate precursor active materials (“pCAM”) and cathode active materials (“CAM”) used in electric vehicle batteries.

Based in Hong Kong for more than a decade, Dr. O’Laoire brings a global perspective on battery supply chain development, competitive dynamics, and technological advancement relevant to the establishment of a resilient domestic lithium and battery materials industry supply chain in the United States.

ABOUT CENTURY LITHIUM CORP.

Century Lithium Corp. is an advanced-stage lithium company, focused on developing its 100%-owned lithium project Angel Island in Esmeralda County, Nevada, which hosts one of the largest sedimentary lithium deposits in the United States. The Company has utilized its patent-pending process for chloride leaching combined with Direct Lithium Extraction to make battery-grade lithium carbonate. As part of the Company’s chlor-alkali process, the planned sale of surplus sodium hydroxide produced at Angel Island is expected to contribute meaningfully to maintaining competitive operating costs for lithium carbonate production.

Angel Island is one of the few advanced lithium projects in development in the United States to provide an end-to-end process to produce battery-grade lithium carbonate for the growing electric vehicle and battery storage market. Angel Island is currently in the permitting stage for a three-phase feasibility-level production plan, expected to yield an estimated life-of-mine average of 34,000 tonnes per year of lithium carbonate over a 40-year mine-life.

Century Lithium trades on both the TSX Venture Exchange under the symbol “LCE” and the OTCQX under the symbol “CYDVF”, and on the Frankfurt Stock Exchange under the symbol “C1Z”.

To learn more, please visit centurylithium.com.

ON BEHALF OF CENTURY LITHIUM CORP.

WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

For further information, please contact:
Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851
Toll Free: 1 800 567 8181
scacos@centurylithium.com
centurylithium.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Cautionary Note Regarding Forward-Looking Statements

This release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” and similar expressions suggesting future outcomes or statements regarding an outlook.

Forward-looking statements relate to any matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, without limitation, statements with respect to the potential development and value of the Project and benefits associated therewith, statements with respect to the expected project economics for the Project, such as estimates of life of mine, lithium prices, production and recoveries, capital and operating costs, IRR, NPV and cash flows, any projections outlined in the Feasibility Study in respect of the Project, the permitting status of the Project and the Company’s future development plans.

These and other forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause their actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein. These risks include those described under the heading “Risk Factors” in the Company’s most recent annual information form and its other public filings, copies of which can be under the Company’s profile at www.sedarplus.com. The Company expressly disclaims any obligation to update-forward-looking information except as required by applicable law. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place reliance on forward-looking statements or information. Furthermore, Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Comstock Metals Expands Network – Launches End-of-Life Solar Facility in California

Posted on by aweinsoff@channelchek.com

Research News and Market Data on LODE

  • January 12, 2026

VIRGINIA CITY, NEVADA, January 12, 2026 — Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) and Comstock Metals LLC (“Comstock Metals”), a leader in the responsible recycling of end-of-life solar panels with the only certified, North American, zero-landfill solution, announced today that it has secured its California-based facility dedicated to serving its California customer base, the largest single U.S. market. This first satellite storage and prepping facility is strategically located in the heart of the Central Valley of California. The facility represents a critical hub for the responsible collection, preparation and aggregation of decommissioned photovoltaic (PV) panels for ultimate closed-loop recycling in its fully permitted recycling facility in Nevada.

As solar energy adoption continues to grow across the western United States, the need for compliant and environmentally responsible end-of-life solutions is critical. Comstock Metals’ California facility is designed to directly support solar developers, utilities, installers, and asset owners by providing a centralized location for the safe handling, consolidation, and logistics coordination of retired solar panels.

Comstock Metals’ California facility can now optimize network logistics and costs for the western U.S. and:

  • Enable direct support for solar asset owners, developers, EPCs, and installers;
  • Enhance our ability to rapidly and fully respond to customer needs;
  • Facilitate decommissioning efforts by providing a “local” base from which to operate;
  • Centralize collection points for end-of-life solar panels in California; and
  • Coordinate all handling, storage, and logistics coordination compliantly.

By enabling reliable, efficient, and compliant interstate transport and recycling, Comstock Metals helps reduce landfill disposal, conserve natural resources, and support the long-term sustainability of the solar industry.

“Our goal is to help close the loop on solar energy by ensuring that panels at the end of their useful life are managed responsibly and the critical minerals and materials are repurposed for productive use,” said Dr. Fortunato Villamagna, President of Comstock Metals. “This facility allows us to directly support California’s clean energy leadership while ensuring materials are transported efficiently to our specialized recycling operations in Nevada.”

The new facility in California accepts end-of-life and decommissioned solar panels from commercial, utility-scale, and other approved sources. Panels received at the site are prepared and optimized for transportation and shipped in accordance with all applicable state and federal regulations to Comstock Metals’ certified recycling facilities in Nevada, where critical materials such as aluminum, silver, copper, gallium, and other metals can be repurposed.

“Comstock Metals is setting the global standard in solar panel recycling by creating a scalable, reliable, efficient, and optimized network of decommissioning, collecting, aggregating, storing and full-recovery processing (and ultimately refining) nodes designed and built for speed and scale,” said Corrado De Gasperis, Executive Chairman and CEO of Comstock. “Most of the industry is still getting their heads around the magnitude of inevitable end of life panels, measured in the tens of millions and then hundreds of millions, and growing, and our demonstrated ability to scale and meet those volumes delivers true sustainability and peace of mind to our customers.”

About Comstock Inc.

Comstock Inc. (NYSE: LODE) innovates and commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics. To learn more, please visit www.comstock.inc.

Comstock Social Media Policy

Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its X.com, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Contacts

For investor inquiries:
Judd B. Merrill, Chief Financial Officer
Tel (775) 413-6222
ir@comstockinc.com

For media inquiries:
Zach Spencer, Director of External Relations
Tel (775) 847-7573
media@comstockinc.com

Forward-Looking Statements  This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future explorations or acquisitions; divestitures, spin-offs or similar distribution transactions, future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, divestitures, spin-offs or similar distribution transactions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; ability to successfully identify, finance, complete and integrate acquisitions, spin-offs or similar distribution transactions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.

Comstock (LODE) – All Permits Received for Comstock Metals’ Industry-Scale Recycling Facility

Posted on by slightbourne@noblecapitalmarkets.com


Monday, January 12, 2026

Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Receipt of Written Determination Permit. Comstock Metals received its Written Determination Permit from the Nevada Division of Environmental Protection for the processing of waste solar panels and photovoltaics at its planned industry-scale materials recovery facility in Silver Springs, Nevada. Receipt of the permit will result in a fully permitted operation and facility, and is expected to enable Comstock to install, test, and commission the facility on schedule during the first quarter of 2026.

Receipt of Air Quality Permit. Earlier this month, Comstock Metals received approval for the associated Air Quality control permit. Both permits represent the complete scope of required regulatory approvals for commissioning the scale up of a facility designed for processing more than 3.0 million panels per year representing up to 100 thousand tons per year of waste materials. The facility integrates technologies for crushing, conditioning, extracting, and recycling metal concentrates from photovoltaics.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Comstock Metals Completes All Permits for First of Its Kind Recycling Facility

Posted on by aweinsoff@channelchek.com

Research News and Market Data on LODE

VIRGINIA CITY, Nev., January 09, 2026 (GLOBE NEWSWIRE) — Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) and Comstock Metals LLC (“Comstock Metals”), a leader in the responsible recycling of end-of-life solar panels with the only certified, North American, zero-landfill solution, announced today that it has received its Written Determination Permit from the Nevada Division of Environmental Protection – Bureau of Sustainable Materials Management (NDEP-BSMM), for the processing of waste solar panels and photovoltaics for its industry-scale materials recovery facility located in Silver Springs, NV. This timely and final required approval results in a fully permitted operation and facility and keeps our scale up plans for commissioning this industry-first, large scale processing facility in Silver Springs, NV, right on schedule.

On January 5, 2026, Comstock Metals received a similar notification of approval for the associated Air Quality control permit. These last two permits, represent the complete scope of required regulatory approvals for commissioning the scale up of a facility designed for processing more than 3 million panels per year from one, continuous production line, representing up to 100,000 tons per year of waste materials being processed. This facility integrates technologies for efficiently crushing, conditioning, extracting, and recycling metal concentrates from photovoltaics. The Company previously ordered all of the equipment and  received deliveries during Q4 2025 and remains on schedule for receiving the rest of the equipment, installing, testing, and commissioning this first of its kind industry-scale facility during the first quarter of 2026.

“We appreciate BSMM’s collaborative engagement in issuing the first industry-scale Written Determination permit for solar panel recycling, a key regulatory milestone that enables Nevada’s only zero-landfill, high-volume, end-of-life solar panel recycling solution serving the broader region,” said Dr. Fortunato Villamagna, President of Comstock Metals. “This authorization aligns with our original permitting timeline and reflects the effectiveness of our regulatory strategy, the strength of our relationships with regulators, and the successful execution of a complex, first-of-its-kind permitting process.”

Many of the U.S. solar panels have been deployed in the southwestern U.S., primarily California, Arizona, and Nevada, with decommissioning of these solar panels occurring now, accelerating supply and increasing the demand for environmentally responsible end-of-life solutions. Comstock has positioned itself to ensure the safe deconstruction and productive reuse of these important materials. Establishing our platform in Nevada establishes the leading solar recycling position over more than half the U.S. market for end-of-life panels and establishes a platform for rapid expansion across the rest of the United States.

“Comstock Metals is setting the global standard in solar panel recycling by creating a scalable, reliable, efficient, and optimized network of decommissioning, collecting, aggregating, storing and full-recovery processing (and ultimately refining) nodes designed and built for speed and scale,” said Corrado De Gasperis, Executive Chairman and CEO of Comstock. “Most of the industry is still getting their heads around the magnitude of inevitable end of life panel dilemma, measured in the billions of panels, while we deploy and deliver a full end of life solution.”

About Comstock Inc.

Comstock Inc. (NYSE: LODE) innovates and commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics. To learn more, please visit www.comstock.inc.

Comstock Social Media Policy

Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its X.com, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Contacts

For investor inquiries:
Judd B. Merrill, Chief Financial Officer
Tel (775) 413-6222
ir@comstockinc.com

For media inquiries:
Zach Spencer, Director of External Relations
Tel (775) 847-7573
media@comstockinc.com

Forward-Looking Statements 

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future explorations or acquisitions; divestitures, spin-offs or similar distribution transactions, future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, divestitures, spin-offs or similar distribution transactions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; ability to successfully identify, finance, complete and integrate acquisitions, spin-offs or similar distribution transactions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.

Kuya Silver (KUYAF) – Vertically Integrating its Operation

Posted on by slightbourne@noblecapitalmarkets.com


Wednesday, January 07, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Private Placement Financing. Kuya Silver Corporation (OTCQB: KUYAF, CSE: KUYA) announced a brokered private placement pursuant to the listed issuer financing exemption of up to 15.0 million units of the company at a price of C$1.00 per unit for aggregate gross proceeds of up to C$15.0 million. Each unit will consist of one common share and one half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of C$1.30 per common share for a period of 36 months from the date of issuance.

Use of Proceeds. Kuya intends to use the net proceeds of the offering to advance the company’s Bethania project with the acquisition of and/or development of concentrate processing capacity. Kuya is evaluating several options, each of which is fully permitted and will allow the company to vertically integrate its production capabilities. Funds may also be used to explore the Silver Kings Project in Ontario, discretionary growth capital, and for general corporate purposes.


Get the Full Report

Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.