Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Flat is advancing rapidly. Tectonic is executing a five-rig, 40,000-meter drilling program at its flagship Flat Gold Project, with the primary objective of supporting a maiden NI 43-101 mineral resource estimate at Chicken Mountain in early 2027. The program is also targeting higher-grade mineralization and testing additional district-scale targets. The Chicken Mountain–Alpha Bowl system has already been traced for approximately 3.3 kilometers.
Black Creek is emerging as a second gold center. Tectonic released assay results from three holes drilled at the Black Creek target, including two reverse circulation and one diamond drill hole. Hole CMR26-152 returned 5.09 g/t gold over 21.34 meters, including 17.34 g/t over 6.10 meters. Hole CMR26-153 intersected a broader interval of 1.89 g/t over 57.91 meters, including 2.75 g/t over 38.10 meters, with higher-grade intervals of 6.31 g/t over 7.62 meters and 3.89 g/t over 6.10 meters. Diamond hole CMD26-041 returned 3.26 g/t over 5.06 meters and a deeper interval grading 16.73 g/t over 2.22 meters, including 29.91 g/t over 1.22 meters. Importantly, both RC holes ended in mineralization, indicating that the system remains open thus providing clear targets for deeper follow-up drilling.
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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.
Multiple High-Grade Drill Intercepts, Broad Intervals and Holes Ending in Mineralization Signal a Growing Gold System; Six Additional Drill Holes Pending
VANCOUVER, B.C., August 25, 2026 – Tectonic Metals Inc. (“Tectonic” or the “Company”) (TSX-V: TECT; OTCQX: TETOF) today reported new drill assay results from Black Creek, one of six intrusion-related district targets located within the Company’s flagship 99,840-acre Flat Gold Project (“Flat”) in southwest Alaska, U.S. The results confirm a second consecutive season of high-grade gold mineralization at Black Creek and strengthen the Company’s view that the target has the potential to emerge as a second gold intrusive centre at Flat, approximately six kilometres (“km”) northeast of the main bulk-tonnage, heap leach Chicken Mountain target.
2026 Black Creek Drill Assay Highlights
CMR26-152: 5.09 grams per tonne gold (“g/t Au”) over 21.34 metres (“m”) including 17.34 g/t Au over 6.10 m;
CMR26-153:1.89 g/t Au over 57.91.c m, including 2.75 g/t Au over 38.10 m with 6.31 g/t Au over 7.62 m and 3.89 g/t Au over 6.10 m; and,
CMD26-041: 3.26 g/t Au over 5.06m and 16.73 g/t Au over 2.20 m, including 29.91 g/t Au over 1.22 m.
Importantly, both reverse-circulation (“RC”) holes CMR26-152 and CMR26-153 ended in mineralization, providing clear opportunities to expand the system further at depth and along strike.
Assays are also pending from six additional Black Creek drill holes, including holes that intersected prospective hornfels and mafic dykes, features typically associated with higher-grade mineralization at Black Creek and other Reduced Intrusion Related Gold Systems (RIRGS).
The latest results build on Black Creek’s initial 2025 drilling, reported by the Company on January 29, 20261, which returned 4.50 g/t Au over 48.77 m, including 7.79 g/t Au over 24.38 m and 15.19 g/t Au over 6.10 m. Together, the recurring high-grade results, broad mineralized intervals, large exploration footprint and improving geological model strengthen Tectonic’s view that Black Creek has the potential to emerge as a second gold intrusive centre at Flat.
Tony Reda, Co-Founder, President & CEO of Tectonic Metals, commented:
“Our 2025 drilling established Black Creek as a compelling high-grade discovery. These 2026 results take it further, delivering multiple high-grade intercepts over meaningful widths with the system remaining open in all directions. Importantly, high-grade gold is now recurring across multiple holes and successive drill programs within the same prospective hornfelsed intrusion-margin setting. Together, these results are defining a coherent geological pattern and providing growing evidence of a potentially significant gold system.
“I have always believed that big gold systems leave big footprints. At Black Creek, drilling lies within a much larger, kilometre-scale convergence of gold-in-soil anomalies, geophysics, favourable geology and significant historical placer and lode gold production. We have tested only a small portion of that footprint, yet we are already seeing important indicators of grade and scale. Our next step is to further understand the geological controls, establish continuity and systematically test the scale of the system.
“Located six kilometres from Chicken Mountain, Black Creek is emerging as a potential second significant gold centre within Flat’s more than 20-kilometre-long volcano-plutonic complex. Its high-grade mineralization occurs in a different host rock than the monzonite-dominant mineralization at Chicken Mountain, demonstrating that gold at Flat is not confined to a single intrusion or geological setting. Black Creek is one of six kilometre-scale intrusion-related targets identified to date, collectively highlighting an opportunity that extends well beyond one potential deposit, one intrusion and one host rock.”
Figure 1: Simplified regional geology map of the Flat Gold Project, highlighting the Black Creek drilling area.
Black Creek: Building Evidence of a Second Gold Centre
Tectonic prioritized Black Creek for follow-up drilling in 2026 after its first-ever program at the target returned near-surface high-grade gold in hornfelsed sedimentary rock: 4.50 g/t Au over 48.77 m in hole CMR25-059, including 7.79 g/t Au over 24.38 m and 15.19 g/t Au over 6.10 m. The 2026 program was designed to test whether the 2025 drill discovery was part of a broader mineralized system.
The new drilling was successful in expanding the Black Creek system. High-grade gold has now been intersected in multiple holes and successive drill campaigns, with broad mineralized envelopes surrounding higher-grade internal intervals. Both 2026 RC holes ended in mineralization, and the deepest high-grade interval in diamond hole CMD26-041 occurs at approximately 202 m downhole, demonstrating gold mineralization through a substantial vertical range.
Broader mineralization of 0.39 g/t Au over 29.50 m, 0.66 g/t Au over 16.68 m and 0.41 g/t Au over 27.25 m was hosted in heavily fractured oxidized and non-oxidized hornfels and altered mafic dyke units with centimetre- to millimetre-scale quartz-to-quartz carbonate veining. Higher grade intervals, represented by 16.73 g/t Au over 2.22 m. were hosted within quartz-carbonate-stibnite veining. This newly intersected mineralization in the diamond drilling suggests that mineralization continues at depth from near-surface high-grade mineralization and remains open in all directions.
The Black Creek intrusion lies approximately six km northeast of Chicken Mountain within the more than 20-kilometre-long Flat volcano-plutonic complex. The target is supported by a 2.3 km by 1.5 km resistive electromagnetic anomaly and an approximately 1,500 m by 700 m gold-in-soil anomaly, providing a large exploration framework relative to the area tested by drilling to date.
The broader target area also has a substantial historical gold endowment and a long history of placer gold production, totalling approximately 450,000 ounces from Black Creek and upper Otter Creek. The historical hard rock mine at Black Creek reportedly produced approximately 2,707 ounces of gold at an average grade of 12.00 g/t Au between 1925 and 1938.2,
The convergence of historical gold production, kilometre-scale soil and electromagnetic anomalies, and repeat high-grade bedrock intercepts signals a compelling, multi-dataset exploration vector. Drilling has tested only a small portion of that broader footprint.
Figure 2: Black Creek regional geology, drilling area, and soil contour map, highlighting the mineralized corridors and the gold-in-soil anomaly
Drilling Refines the Geological Model at Black Creek and Other Regional Targets, Providing Clearer Vectors to Higher-Grade Gold
The 2026 program is materially improving Tectonic’s understanding of the lithological and structural controls on gold at Black Creek and providing a vectoring framework that may be applicable elsewhere across the Flat district.
Gold is hosted principally in altered and hornfelsed Kuskokwim Group clastic sedimentary rocks and is associated with quartz to quartz-carbonate-stibnite veining, oxidation, fracturing and mafic dykes. Higher-grade intervals occur within this broader mineralized hornfels package, locally near mapped or modelled mafic dykes.
This host setting is geologically important because hornfelsed sedimentary rocks occur along intrusion margins elsewhere at Flat, including Chicken Mountain, Golden Apex, Horseshoe, Jam and Caribou. As a result, Black Creek establishes a district-relevant exploration model in a host rock that significantly expands the prospective search space beyond intrusion-hosted mineralization alone.
Updated geologic modelling is integrating lithology, hornfels intensity, mafic dykes, intrusion contacts, veining and assay data. The emerging model will be used to test whether higher-grade shoots are controlled by intrusive contacts, dyke margins, structural permeability, or the intersection of these features. Oriented follow-up drilling is required to resolve geometry and true widths.
Figure 3: Updated geological model of the Black Creek Target Area, notably updated hornfels and mafic dyke units that have been observed and characterized to host higher-grade gold mineralization.
Maggie Layman, Vice President Exploration, commented:
“The 2026 drilling is providing an important step forward in our understanding of Black Creek. The association of mineralization with hornfels, mafic dykes and intrusion contacts is helping us refine our geological model and identify priority targets for follow-up drilling.
“With mineralization remaining open in multiple directions and additional assays pending, we see a strong opportunity to continue expanding and defining not only the Black Creek system but also to apply these geological insights to other priority targets across the Flat district.”
Multiple Catalysts Ahead
Tectonic is advancing Black Creek alongside Chicken Mountain and a portfolio of kilometre-scale intrusion-related targets as part of a systematic strategy to test the full district-scale potential of Flat. Near-term catalysts and exploration activities include:
Assays pending from six additional Black Creek drill holes, several of which intersected prospective hornfels and mafic dykes;
Follow-up drilling below CMR26-152 and CMR26-153 and along strike to test continuity, orientation and true width;
Integration of assay, structural, lithological and geophysical data into the three-dimensional geological model; and
Application of the emerging Black Creek targeting model to other intrusion-margin targets across the Flat district.
Additional assay results from Chicken Mountain are also expected as Tectonic continues expansion and resource-definition drilling toward a maiden mineral resource estimate targeted for early 2027.
Figure 4: Cross section L1-L1’ showing updated Mafic Dyke units and Hornfels, highlighting the higher-grade mineralization across the drilled section
Figure 5: Cross section L2-L2’ showing updated geological model, highlighting the latest high-grade drill composites and holes with assays pending.
A summary of the assay results is presented in Table 1.
Table 1 – 2026 Black Creek Drill Assay Results
Note: All reported intercepts are downhole lengths, as insufficient data exist to determine true widths. Select composites utilize 0.10, 0.30 or 0.50 g/t Au cut-offs, with a maximum continuous interval of 3.20 m (two sample) below the applicable cut-off inclusion.
Table 2. Drill Hole Details at Black Creek
Qualified Person
Tectonic Metals’ disclosure of technical or scientific information in this press release has been reviewed, verified and approved by Peter Kleespies, M.Sc., P.Geo., Chief Geological Officer, who is a Qualified Person in accordance with Canadian regulatory requirements set out in National Instrument 43-101.
Analytical work for the 2026 Flat project drilling program was performed by ALS Global (“ALS”), an internationally recognized and accredited laboratory independent of Tectonic. On-site, core and reverse circulation samples were sealed in security-tagged bags and shipped under strict chain-of-custody protocols to the Lynden Transport logistics operator in Anchorage, Alaska, for delivery to ALS facilities in Vancouver, British Columbia.
Upon arrival at the laboratory, samples were dried, crushed to 2 mm and riffle split into nominal 500-gram subsample aliquots (prep codes CRU-31, SPL-32a). One portion was analyzed for gold using PhotonAssay™ (ALS code Au-PA01). PhotonAssay™ uses high-energy X-rays to determine gold content from a large sample aliquot, typically 500 g of crushed material. The method is non-destructive and is particularly suited to gold systems where larger sample aliquots may improve representativity. If additional nominal 500-gram PhotonAssayTM analysis splits are conducted for a given sample, results from all splits are combined on a weight average basis. A second portion was pulverized such that 85% of the sample passed 75 µm, (PUL-31) and was analyzed by four-acid digestion with ICP-MS finish for 48 elements (ME-MS61), along with aqua regia digestion with ICP-MS finish for trace levels of mercury (Hg-MS42).
Quality assurance and quality control (QA/QC) protocols included the insertion of certified reference material every 20 samples, blank samples at rate of approximately every 25 samples and field duplicate samples (split from the original approximately 1.5 m for RC or 1.5 m for core intervals) every 25 samples. All QA/QC results returned values within acceptable limits.
About Tectonic Metals Inc.
Tectonic Metals Inc. is a mineral exploration company led by an experienced and well-respected technical and financial team with a track record of wealth creation for shareholders. The Company is focused on exploring and developing its flagship Flat Gold Project in southwestern Alaska, covering 99,840 acres of predominantly Native-owned land belonging to Doyon, Ltd., a leading Alaska Native Regional Corporation and one of Tectonic’s largest shareholders. The current focus is on advancing the Chicken Mountain target, one of six multi-kilometre-scale intrusion zones at the Flat Gold Project, where drilling has achieved a 100% success rate across 191 holes to date.
Founded by key members of the Kaminak Gold team behind the discovery and advancement of the Coffee Gold Project, which was acquired by Goldcorp for $520 million in 2016, Tectonic brings a proven track record in exploration, project advancement, capital markets and value creation. Collectively, the team has helped identify more than 30 million ounces of gold, advanced 18 projects through to feasibility, permitted 20 projects, completed over $3 billion in mergers and acquisitions and raised more than $2 billion in capital.
Tectonic ’s mission is to be a shift in the game: working for our shareholders and the communities where we operate, putting people first, playing big and staying true to our word every step of the way.
On behalf of Tectonic Metals Inc.,
Tony Reda President and Chief Executive Officer
For further information about Tectonic Metals Inc. or this news release, please visit our website at www.tectonicmetals.com or contact:
Cautionary Note Regarding Forward-Looking Statements, Historical Information and Visual Observations
This news release contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements herein that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often, but not always, identified by words such as “may,” “will,” “should,” “anticipate,” “believe,” “expect,” “intend,” “plan,” “estimate,” “potential,” “target,” or similar terminology, or that events or conditions “may” or “will” occur.
Forward-looking statements in this release include, but are not limited to, statements regarding: the potential for mineralization at Tectonic’s projects; the nature, scope, and timing of future exploration activities; the interpretation of geological observations; the possible size or scale of mineralized systems; the receipt of regulatory approvals, and the anticipated benefits of current and future exploration programs.
This release also refers to historical information, including results from past exploration activities and placer production figures. Such historical information has not been independently verified by Tectonic, may not be reliable, and should not be relied upon as current, NI 43-101 compliant data.
In addition, this release contains, detailed geological notes, and descriptive observations such as alteration styles, mineralogy and visible gold. These observations are preliminary in nature, may not be representative of the entire interval or system, and should not be relied upon as a guarantee of mineralized assay results or as the basis for any investment decision. Investors and readers are cautioned that visual estimates, core photographs, and geological descriptions are not substitutes for laboratory assay results and do not demonstrate the economic viability of any mineral deposit.
Forward-looking statements are not guarantees of future performance. They are based on a number of assumptions made as of the date such statements are provided, including, among others: assumptions regarding future gold and other metal prices; currency exchange and interest rates; favourable operating and political conditions; timely receipt of permits and regulatory approvals; availability of labour, equipment, and services; stability of financial and capital markets; availability of financing on acceptable terms; accuracy of exploration data and geological models; and the ability to successfully advance planned exploration programs. Many of these assumptions are beyond the control of Tectonic and may prove to be incorrect.
Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. These risks include, without limitation: risks inherent to mineral exploration and development; volatility of commodity prices; changes in laws, regulations, and policies; delays or inability to obtain required approvals and permits; availability of financing; general economic, political, and market conditions; labour disputes and shortages; equipment and supply risks; environmental and social risks; competition; inaccuracies in exploration results or geological interpretations; and other risks detailed from time to time in the Company’s continuous disclosure filings.
Although management believes the expectations expressed in such forward-looking statements are reasonable as of the date made, there can be no assurance they will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements, historical information, or preliminary visual geological observations. Actual results and future events may differ materially from those anticipated. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Tectonic disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Golden Gate South Discovery. Resolution Minerals confirmed a significant near-surface gold discovery at Golden Gate South within its 100%-owned Horse Heaven Antimony-Tungsten-Gold-Silver Project in Idaho. All three initial 2026 diamond holes intersected broad gold mineralization, extending the known mineralized system at least 2,000 meters south from Golden Gate North. The results, combined with gold-in-soil anomalies between the two areas, strengthen the potential that Golden Gate North and South are part of a much larger mineralized system along the Golden Gate Fault Zone.
Broad Gold Intercepts. The most significant hole, HH-GG26-003C, returned 305.7 meters grading 0.64 g/t gold from surface to the end of the hole, including several higher-grade zones of up to 17.25 meters at 1.19 g/t gold. The other two holes also encountered broad near-surface mineralization, including 87.87 meters at 0.52 g/t and 49.5 meters at 0.58 g/t gold. Collectively, the results are important because they demonstrate substantial widths of pervasive gold mineralization rather than isolated narrow intercepts, although additional drilling is required to establish true widths, continuity, and ultimately the potential size of the system.
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 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.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
A stronger resource supports the transition to feasibility. First Phosphate’s definitive NI 43-101 report confirms approximately 204.7 million tonnes of measured and indicated resources grading roughly 6.05% phosphorus pentoxide (P2O5), including a 378% increase in indicated resources. Strong geological continuity, favorable metallurgy, and additional expansion potential at depth provide a stronger foundation for the Begin-Lamarche feasibility study.
The focus is shifting toward project development. With resource drilling mostly completed, First Phosphate is targeting completion of the feasibility study around January or February 2027, followed by permitting, financing, and a potential final investment decision. Development risk is further reduced by definitive offtake agreements, Canadian government funding, and potential international financing support.
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 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.
Gold and silver are having a genuinely remarkable stretch. Gold prices are up roughly 15% this month while silver has surged 19%, and combined, the two metals have added nearly $5 trillion in market value in just a few weeks, according to analysis from Bull Theory. Both remain below the record highs set earlier this year, but the pace of the move is striking, and the drivers behind it will look familiar if you’ve been following ChannelChek’s coverage this month.
A major catalyst for the late-August breakout traces directly back to the US Treasury’s decision to double its long-term bond buyback program to $4 billion per session, the same intervention we detailed when it first sent Treasury yields tumbling and lifted Bitcoin sharply higher. That move has triggered an aggressive wave of short covering and speculative buying across precious metals markets as well. Layered on top of that, the unresolved and escalating war between the US and Iran, which has pushed energy prices higher again in a story we covered just this past week, has reinforced gold’s role as the market’s primary safe-haven asset during periods of genuine geopolitical stress.
Silver Has a Story of Its Own
What makes silver’s outperformance particularly interesting is that it isn’t just riding gold’s coattails. The metal is facing a genuine physical supply deficit, compounded by industrial demand that has nothing to do with safe-haven positioning. Long-term structural consumption from AI data center infrastructure, electrical grid modernization, and advanced electronics, precisely the buildout we detailed in our recent look at the US data center construction boom, continues to absorb physical silver inventory faster than global mine production can keep pace. That is a demand story layered directly on top of a macro story, which helps explain why silver has outpaced gold’s already impressive move.
Truist’s chief investment officer recently upgraded his own outlook on gold from underweight back to neutral, citing several supporting factors: real yields have stopped climbing, partly because of the Treasury’s own buyback decision, gold has reclaimed its 200-day moving average in a positive technical signal, central banks continue adding to their gold reserves despite earlier concerns that demand might slow, and a softer US dollar, driven by cooling inflation data and a more dovish Fed posture, has provided an additional tailwind. He noted that with gold still roughly 15% below its recent highs, the overall weight of evidence now supports a more balanced view than the firm held previously.
For investors tracking the small and microcap space, this rally carries a specific implication worth watching. Smaller precious metals mining companies typically carry significantly more operating leverage to metal prices than large diversified miners, meaning a 15% to 19% move in the underlying commodity can translate into a considerably larger percentage move in smaller producers’ earnings and, potentially, their share prices. The setup here is genuinely three stories converging into one, monetary policy, geopolitical risk, and structural industrial demand from the same AI infrastructure buildout driving so much of this year’s market activity, all pushing in the same direction at once.
Saguenay, Quebec–(Newsfile Corp. – August 24, 2026) – First Phosphate Corp (NASDAQ: PHOS) (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company“) is pleased to announce that the Company has filed its updated Mineral Resource Estimate (“MRE“) Technical Report for the Bégin-Lamarche project located 50 km northwest of the City of Saguenay, Quebec, Canada (the “Deposit”).
The Technical Report titled “Technical Report and Updated Mineral Resource Estimate of The Bégin-Lamarche Phosphate Property, Saguenay – Lac Saint-Jean Region, Northern Quėbec” dated August 24, 2026, with an effective date of May 1, 2026, was prepared by P&E Mining Consultants Inc. in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects and supports the disclosures made by the Company in its news release dated May 26, 2026. A full copy of the Report is available on the First Phosphate website at https://firstphosphate.com/projects/begin-lamarche-3 and can be found at SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile.
MRE Highlights include:
The updated MRE includes a 378% increase in Indicated Mineral Resources over the Company’s Initial MRE dated September 9, 2024.
Measured pit-constrained Mineral Resource: 6.2 Mt @ 7.70% P2O5 (phosphate).
Indicated pit-constrained Mineral Resource: 198.5 Mt @ 6.00% P2O5.
Inferred pit-constrained Mineral Resource: 89.5 Mt @ 6.16% P2O5.
The Deposit remains open at depth.
Metallurgical test work indicates an anticipated apatite concentrate grade of 40.4% P2O5 at an 88% process recovery rate, with very low levels of potentially deleterious elements, and has been qualified for production of battery-grade phosphoric acid for lithium iron phosphate (“LFP”) battery with a conversion ratio of 91.1%.
The Deposit is located next to existing road and hydroelectric infrastructure and at only 70 km driving distance from the deep-sea Port of Saguenay.
The Deposit benefits from definitive, long-term, partially prepaid offtake from an existing, creditworthy partner.
Apatite (phosphorus, phosphate) is listed on the critical minerals lists of Québec, Canada, the United States and the European Union.
The Bégin-Lamarche Deposit Updated Optimized Pit Shell
The Qualified Person, independent of the issuer, responsible for estimating the Mineral Resources of the Begin-Lamarche Property, within the meaning of NI 43-101, is Mr. Antoine Yassa, P.Geo., of the firm P&E Mining Consultants Inc. Mr. Yassa has read this press release and confirms that the scientific and technical information in this press release for accuracy and compliance with NI 43-101.
The scientific and technical disclosure for First Phosphate included in this News Release have been reviewed and approved by Steeve Lavoie, P.Geo. Mr. Lavoie is Chief Geologist of the Company and a Qualified Person under National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”).
About First Phosphate Corp
First Phosphate (NASDAQ: PHOS) (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) is a mineral exploration and development and clean technology company dedicated to building and reshoring a vertically integrated mine-to-market supply chain for the production of LFP batteries in North America. Target markets include energy storage, data centers, robotics, mobility, and national security. First Phosphate’s flagship Bégin-Lamarche property, located in Saguenay-Lac-Saint-Jean, Québec, Canada, represents a rare North American igneous phosphate resource producing high-purity phosphate characterized by very low levels of impurities.
Forward-Looking Information and Cautionary Statements
This news release contains certain statements and information that may be considered “forward-looking statements” and “forward looking information” within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” 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”, “will” or “will be taken”, “occur” or “be achieved” and other similar expressions. In addition, statements in this news release that are not historical facts are forward looking statements, including, among other things: the Company’s planned exploration and production activities; the properties and composition of any extracted phosphate; and the calculation of mineral resources at the project and the possibility of eventual economic extraction of minerals from the project. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include development and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. These statements are based on a number of assumptions including, among other things: that engineering and construction timetables and capital costs for the Company’s, exploration, development and expansion projects are correctly estimated and not affected by unforeseen circumstances; the ability to obtain financing for its proposed operations on acceptable terms; no material deterioration in general business and economic conditions; no material delays in obtaining permits and other approvals; no significant disruptions affecting the activities of the Company or its ability to access required project equipment and services, and operating supplies in sufficient quantities and on a timely basis; inflation and prices for Company project inputs being approximately consistent with anticipated levels; the ability to complete the exploration and development programs consistent with the Company’s expectations; commodity price expectations including assumptions for P2O5; the Company’s relationship with local municipalities and First Nations remaining consistent with the Company’s expectations; the Company’s relationship with other third-party partners and suppliers remaining consistent with the Company’s expectations; and government relations and actions being consistent with Company expectations. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. The Company does not assume any obligation to update or revise its forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law. All forward-looking information contained in this release is qualified by these cautionary statements.
Oil prices were on track for a second consecutive weekly gain Friday, with Brent crude trading near $93.82 a barrel and US benchmark WTI near $86.78, after both benchmarks surged more than 7% and 8% respectively over the prior five sessions, reaching their highest levels since late July. The catalyst is a development that deserves far more attention than it has received: the ceasefire framework we detailed back in June has expired this week, with neither side making any apparent effort to restart formal talks.
President Trump escalated the rhetoric Wednesday evening, threatening what he described as economic warfare and isolation on an unprecedented scale against Tehran, along with consequences for any nation providing what he called a lifeline to Iran. The United Arab Emirates responded by suspending all financial and economic transactions with Iran until further notice, a significant move from a major Gulf oil producer that underscores just how fraught the regional picture has become.
The Physical Supply Picture Remains Severely Constrained
Markets are pricing in continued disruption to output from major regional producers including Saudi Arabia, Iraq, the UAE, and Kuwait, given the inconclusive state of the broader conflict. One analyst covering the region described both sides as dug in without the luxury of time to simply wait each other out, against a backdrop of crude prices grinding steadily higher. The physical reality in the Strait of Hormuz supports that read. Shipping traffic through the waterway registered just nine vessel transits this week, essentially unchanged from the prior day and still far below pre-war norms. Before the conflict began, roughly one-fifth of global oil consumption moved through that single passage.
The war itself, which began February 28 when the US and Israel launched strikes on Iran, has now killed thousands of people and disrupted global energy flows for nearly six months, with Tehran’s blockade of the strait and continued attacks on regional energy infrastructure both still very much active constraints on supply.
For investors tracking small and microcap companies, this is precisely the kind of reversal we flagged as a risk when covering the earlier gas price relief that followed the original ceasefire announcement. Consumer-facing companies in transportation, logistics, and retail that had begun benefiting from falling fuel costs are now facing renewed pressure as crude climbs back toward levels last seen a month ago. Domestic energy producers sit on the opposite side of that trade, with sustained prices above $85 continuing to support favorable economics for independent US operators. With no active diplomatic track currently underway and rhetoric escalating rather than cooling, this is a story worth watching closely rather than assuming will resolve quickly, since the pattern of ceasefire, relief, and renewed escalation has now repeated multiple times since February.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Q2 and 1H FY 2026 Financial Performance. Kuya Silver generated Q2 FY 2026 revenue of $1,252,925, compared with $1,163,673 in the prior-year period. The company reported a net loss of $1,529,381, or $(0.01) per share, compared with a net loss of $282,559, or $(0.00) per share, in Q2 of FY 2025. During the 1H of FY 2026, revenue totaled $2,717,922, compared with $1,389,670 during the same period in FY 2025. The 1H net loss increased to $2,766,547, or $(0.01) per share, from $1,631,545, or $(0.01) per share, in the 1H of FY 2025. The greater loss reflected increased activity at the Bethania mine associated with the production ramp-up, as well as higher administrative expenses as Kuya expanded the organizational structure and capabilities required to support its growing operations. Increases in these line items were partially offset by higher revenue from Bethania and lower exploration and evaluation expenses.
Operational Momentum. Kuya continues to add contractors at the Bethania mine to augment its workforce, which is expected to accelerate mine development and underground drilling productivity during the remainder of the year. The mine team has initiated a focused development program and is allocating additional resources to unlock mineralized material for mining later in 2026 and into 2027. Key underground development initiatives, including construction of a new ramp and ore-handling systems to support the Phase 1 expansion to 350 tonnes per day, are progressing and are expected to improve operational stability and long-term production capacity.
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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.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
George Proost, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Shareholder debt fully retired, materially improving credit quality. On August 3, 2026, VivoPower eliminated 100% of its $28.8m shareholder debt principal owed to AWN Holdings. $16.5 million was converted under PIPE 2 and $12.3 million was repaid in cash. The move removes the associated interest expense and materially improves credit quality ahead of the Nordic AI buildout, leaving no principal obligation to AWN.
PIPE secured to fund the AI conversion. A $50 million PIPE priced at US$7.50 per share on July 29, 2026, was led by Blue Sky Capital, alongside Nordic, EU, and GCC institutional and family-office investors. Proceeds are directed at the Mo i Rana AI data center conversion in Norway and further debt reduction.
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 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.
PERMITTING COUNCIL SUPPORT EXPECTED TO ACCELERATE AGGRESSIVE EXPLORATION AND DEVELOPMENT PROGRAM ACROSS ENTIRE GOLDEN GATE TARGET AS RESOLUTION CONTINUES TO DEVELOP ITS INTEGRATED IDAHO ANTIMONY-TUNGSTEN-GOLD CRITICAL METALS PLATFORM
This is the second FAST-41 status granted to Resolution Minerals, demonstrating the high calibre of the Golden Gate asset and its strategic value as a potential source of U.S. domestic tungsten supply, and highlights the level of engagement RML has with the U.S. Government and the Permitting Council, and the attention Resolution’s projects are receiving from the highest levels of the current Administration.
FAST-41 is a special permitting framework being utilised by the Trump Administration to accelerate permitting and the development of critical U.S. infrastructure projects and to provide solutions for U.S. national security.
RML’s Golden Gate Project was added to the FAST-41 Transparency Dashboard in response to President Trump’s Executive Order on Immediate Measures to Increase American Mineral Production¹, to reduce reliance on foreign adversaries for the supply of critical minerals, especially during times of war.
RML has been working closely with key Federal agencies and Administration leadership, including the Permitting Council, which has reviewed RML’s U.S. assets and has recognised their strategic importance to addressing the United States’ critical metals supply deficit and lack of domestic production.
With RML’s Antimony Ridge Project receiving FAST-41 Transparency status in April 2026, both of the Company’s primary development targets at the Horse Heaven Project, Antimony Ridge and Golden Gate, have been prioritised by the U.S. Government for streamlined permitting.
The Golden Gate and Antimony Ridge targets are within RML’s 15,000-acre Horse Heaven Tungsten-Antimony-Gold Project located in Idaho, USA, directly adjacent to Perpetua Resources’ recently permitted ~A$3.5 billion Stibnite Gold Project.
A Plan of Operations for Golden Gate has been submitted to, and accepted by, the US Forest Service for an exploration and development program that will include construction of new roads between Golden Gate North and Golden Gate South and allow up to 340 drill holes and 2,000 feet of trenching.
The Golden Gate Project includes the past-producing Golden Gate Tungsten Mine, which operated intermittently between the period from approximately 1952 to 1980, with reported tungsten production grades ranging between 1.5% and 2.0%.
The combination of Golden Gate and Antimony Ridge positions Resolution to pursue an integrated critical metals development pathway spanning exploration, metallurgy, and potential downstream processing in a tier-one U.S. jurisdiction.
FAST-41 status is expected to fast-track permitting, enhance investor visibility and support engagement with potential strategic partners and funding sources aligned with the U.S. critical minerals policy.
FAST-41 status bodes extremely well for the Company’s upcoming NASDAQ listing.
Resolution Minerals Ltd (ASX: RML; OTCQB: RLMLF) (“Resolution” or the “Company”) is pleased to announce that its Golden Gate Project in Idaho, USA has been selected for inclusion in the U.S. Federal FAST-41 Permitting Transparency Program.
FAST-41 designation is expected to accelerate permitting timelines through enhanced inter-agency coordination, transparent milestone tracking and dedicated federal oversight. The Program provides Resolution with a clear pathway to advance its proposed bulk sampling and drilling activities at Antimony Ridge, a high-grade, past producing antimony project, located within the Company’s 100% owned Horse Heaven Project.
Importantly, FAST-41 selection supports Resolution’s broader strategy to develop a U.S.-focused critical mineral platform. Golden Gate is one of several advancing components within Horse Heaven Project, which also includes:
A recently acquired processing mill and infrastructure known as the Johnson Creek Tungsten Mill.
Historical tungsten stockpiles located adjacent to the Golden Gate Tungsten Mine portal and at the Johnson Creek Mill with potential near-term development optionality.
A fully funded, ongoing Phase 2 drilling program at Golden Gate, comprising up to 45 holes targeting resource definition.
Together, these assets position Resolution to pursue an integrated development pathway spanning exploration, metallurgy and potential downstream processing of antimony, tungsten, and gold in a tier-one U.S. jurisdiction.
Golden Gate is located immediately adjacent to Perpetua Resources’ Stibnite Gold Project, highlighting the region’s growing importance as a strategic hub for U.S. critical minerals. With the United States seeking to secure domestic supply of key metals such as antimony, Resolution is well placed to contribute to supply chain resilience while advancing multiple near-term development catalysts.
The inclusion of Golden Gate in the FAST-41 program follows closely on the designation of RML’s Antimony Ridge Project as a FAST-41 project. It is the intention of the US Forest Service to permit both the Antimony Ridge Plan of Operation and the Golden Gate Plan of Operation under one NEPA process, helping to streamline ongoing permitting at both projects.
Craig Lindsay, Resolution’s CEO – US Operations, commented:
“We are very pleased that Golden Gate has been selected for FAST-41 Transparency Coverage. We now have two separate development targets within the Horse Heaven Project under the FAST-41 program. Interestingly, I am not aware of any other critical metals company with two FAST-41 projects, which I believe is a mark of the potential importance of Horse Heaven in the US achieving its goal of developing domestic supplies of both antimony and tungsten.
Golden Gate represents a key piece of Resolution’s broader strategy to develop a U.S.-based critical minerals platform. With exploration, processing infrastructure and multiple development pathways now coming together at Horse Heaven, we believe the Company is uniquely positioned to capitalise on strong demand for antimony, tungsten and gold.”
FAST-41 Projects and the Permitting Council
The Washington, DC-based Permitting Council was established by Congress in 2015 under Title 41 of the Fixing America’s Surface Transportation Act (FAST-41) to improve the efficiency, transparency and accountability of the federal permitting process.
The Council coordinates environmental reviews and authorisations across multiple federal agencies, acting as a central project manager across for qualifying projects. FAST-41 projects benefit from structured inter-agency coordination, defined permitting timelines and public tracking via the Federal Permitting Dashboard.
The Permitting Council is comprised of the Executive Director (Chair), and 15 other members, including the Deputy Secretary (or equivalent) from 13 Federal agencies, the Chair of the Council on Environmental Quality (CEQ), and the Director of the Office of Management and Budget (OMB). The Office of the Executive Director (OED) executes on the actions of the Council, and Permitting Council statutory authorities, programs, and initiatives. The Office of the Executive Director coordinates federal environmental reviews and authorisations for projects that qualify for FAST-41 coverage, which are in turn entitled to public permitting timetables and transparent, collaborative management of those timetables on the Federal Permitting Dashboard.
More information on the Permitting Council and FAST-41 can be found at www.permitting.gov.
Next Steps
Resolution will work closely with its primary permitting authority, the US. Forest Service, to advance the Golden Gate Plan of Operations through the FAST-41 process.
Following approval, the Company intends to commence a significant drill campaign intended to both increase the drill coverage of the Golden Gate North and Golden Gate South targets and confirm whether the gold and tungsten mineralization is linked geologically (the area between North and South have never been drilled, but RML has developed a geologic model that suggests the potential for both targets to be one large contiguous body of mineralisation).
On a parallel basis, RML is continuing to implement its ongoing 13,700 metre (45,000 foot) drill program at Golden Gate, with 22 holes currently completed and initial results for the first several holes expected by the end of July.
Authorised for release by the Board of Resolution Minerals Ltd.
For further information, please contact:
Ari Zaetz Executive Director Resolution Minerals Ltd M: +61 493 254 526 [email protected]
Jane Morgan Investor Relations Jane Morgan Management M: +61 405 555 618 [email protected]
Forward Looking Statements
This announcement may contain forward-looking statements. These statements relate to the Company’s expectations, beliefs, intentions or strategies regarding the future. These statements can be identified by the use of words like “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”, “plan”, “project”, “will”, “should”, “seek” and similar words or expressions containing same. These forward-looking statements reflect the Company’s views and assumptions with respect to future events as of the date of this release and are subject to a variety of unpredictable risks, uncertainties, and other unknowns. Actual and future results and trends could differ materially from those set forth in such statements due to various factors, many of which are beyond our ability to control or predict. These include, but are not limited to, risks or uncertainties associated with the acquisition and divestment of projects, joint venture and other contractual risks, metal prices, exploration, development and operating risks, competition, production risks, sovereign risks, regulatory risks including environmental regulation and liability and potential title disputes, availability and terms of capital and general economic and business conditions.
Given these uncertainties, no one should place undue reliance on any forward-looking statements attributable to the Company, or any of its affiliates or persons acting on its behalf. Subject to any continuing obligations under applicable law, the Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements in this announcement to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statement is based.
Kuya Silver to hold a conference call webinar on August 17, 2026 to discuss Q2 2026 financial results
Toronto, Ontario–(Newsfile Corp. – August 17, 2026) – Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the “Company” or “Kuya Silver”) is pleased to announce financial and operating results for the six months ending June 30, 2026.
The Company maintained a strong cash position of $25.5 million as at June 30, 2026, providing a solid financial foundation to support its exploration program, mine development initiatives including the construction of the new ramp required to support Bethania’s Phase 1 ramp-up to 350 tonnes per day.
The Company’s revenue increased significantly to $2.7 million during the first six months ended June 30, 2026, compared to $1.3 million in the comparable period of 2025, reflecting increased silver production from the Bethania operation in addition to the positive effect higher silver prices. Revenue for the quarter was $1.25 million.
Exploration and evaluation expenditures were $1.0 million during the first six months of 2026, compared to $1.3 million in the comparable period of 2025. Expenditures at Bethania remained broadly consistent year over year, while expenditures at Silver Kings decreased as the Company continues to evaluate low-cost opportunities to unlock the project’s potential. Exploration and evaluation expenditures are expected to increase during the second half of 2026 as the expanded drilling program commences and Bethania advances critical infrastructure development and ramp-up activities.
The Company recorded a net loss of $2.8 million for the six months ended June 30, 2026, compared to $1.35 million in the same period of 2025. The larger net loss primarily reflects expenses related to significantly greater activity levels at Bethania associated with the ramp-up, together with increased administrative expenses as the Company continues to build the organizational structure and capabilities required to support its growing operations. The increase was partially offset by higher revenue from Bethania and lower exploration and evaluation expenditures.
The Company continues to the Company continues to evaluate the proposed acquisition and expects to provide a further update in due course.
Outlook
Kuya Silver continues the process to onboard contractors at the Bethania mine to augment its workforce, which is expected to accelerate both mine development and underground drilling productivity in Q3 2026, continuing for the remainder of the year and into 2027. In the near term, the mine team has initiated a focused development program, allocating additional resources to unlock mineralized material for mining later this year and into 2027.
Upcoming Conference Call Webinar
Kuya Silver will host a conference call webinar taking place on Monday, August 17th at 9:00 am ET / 6:00 am PT. During the event, Kuya management will provide an in-depth overview of Q2 2026 financial results, cover recent news on the Silver Kings project and provide a market update on operations at the Bethania Project. A live Q&A will follow the presentation.
A replay of the webinar will be made available later that day through the same link.
National Instrument 43-101 Disclosure
The technical content of this news release has been reviewed and approved by Osbaldo Zamora, PhD., P.Geo., Vice President Exploration with Kuya Silver, Qualified Persons as defined by National Instrument 43-101.
About Kuya Silver Corporation
Kuya Silver is a Canadian‐based, growth-oriented mining company with a focus on silver. Kuya Silver operates the Bethania silver mine in Peru, while developing district-scale silver projects in mining-friendly jurisdictions including Peru and Canada.
This news release contains statements that constitute “forward-looking information,” including statements regarding the plans, intentions, beliefs, and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may,” “would,” “could,” “will,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect,” “must,” “next,” “propose,” “new,” “potential,” “prospective,” “target,” “future,” “verge,” “favorable,” “implications,” and “ongoing,” and similar expressions, as they relate to the Company or its management, are intended to identify such forward-looking information. Investors are cautioned that statements including forward-looking information are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those described in the forward-looking information as a result of various factors, including but not limited to fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing, and general economic, market, and business conditions. There can be no assurances that such forward-looking information will prove accurate, and therefore, readers are advised to rely on their own evaluation of the risks and uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Second quarter financial results. Duringthe second quarter of 2026, InPlay production averaged 18,663 barrels of oil equivalents per day (boe/d), compared with 20,401 boe/d in the prior-year quarter. Despite lower production, stronger commodity pricing drove oil and natural gas sales to C$124.1 million, up 35% from C$91.6 million during the second quarter of 2025. Adjusted funds flow increased 11% to C$44.7 million from $40.1 million, while adjusted funds flow per basic share increased 8% to C$1.61 from C$1.49.
Outlook for the remainder of 2026. Supported by stronger oil prices and the expected impact of its recently announced acquisition, InPlay’s 2026 guidance forecasts average annual production of 18,900 to 19,400 boe/d, with approximately 61% to 63% light oil and natural gas liquids (NGLs), and adjusted funds flow of C$161 million to C$169 million, or approximately C$165 million at the midpoint.
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Mobix Labs (Nasdaq: MOBX), a semiconductor and defense electronics company, announced Wednesday it has signed a definitive all-stock agreement to acquire Special Project Delivery, a pre-revenue infrastructure development platform pursuing rare earth elements, critical minerals, energy storage, and Western US water resources. The deal is structured with consideration capped at 4.8 million Mobix shares, with closing targeted before the end of 2026, subject to shareholder approval.
Shares of Mobix climbed 5% in premarket trading following the announcement, recovering from a nearly 6% decline the prior session.
This is not a typical semiconductor company acquisition. Mobix currently supplies advanced wireless components and RF technology used in aerospace, defense, and homeland security systems, work that includes existing relationships with Boeing on 737 aircraft programs. The SPD deal adds an entirely different layer to that business: upstream control over the raw materials, energy infrastructure, and water resources that defense manufacturing and critical mineral processing actually depend on.
Mobix Chairman Jim Peterson framed the deal as central to the company’s broader National Security Matters initiative, describing control of strategic domestic mineral rights as fundamental to America’s long-term industrial strength. That initiative, launched earlier this year, has already included a separate acquisition of drone maker Vision Aerial, positioning Mobix as a company trying to assemble components, autonomous systems, and now raw materials under a single national security platform, rather than remaining a narrow RF and semiconductor supplier.
Investors need to understand what this transaction is and is not. SPD is explicitly described as pre-revenue, meaning it currently generates no sales. The company’s positioning across rare earth elements, critical minerals, energy storage, and water infrastructure remains largely conceptual at this stage, with no specific mineral deposits, resource grades, separation technology, capital expenditure estimates, permitting status, or customer commitments disclosed publicly as part of this announcement. Mobix itself is a microcap company that has carried substantial losses and limited liquidity in its own recent financial history.
This combination of a loss-making microcap acquirer and a pre-revenue target operating in a capital-intensive, multi-year development category, rare earth and critical mineral processing, is a materially higher-risk profile than a typical revenue-generating acquisition. The strategic thesis, positioning around America’s push to reduce dependence on foreign rare earth supply chains, is genuinely timely and aligned with a broader theme playing out across defense and industrial policy in 2026. But thematic alignment and executable, funded infrastructure are two very different things at this stage of the deal.
Why the Theme Itself Is Worth Watching Regardless
Independent of this specific transaction’s execution risk, the broader push toward domestic rare earth and critical mineral supply chains remains one of the more significant structural themes in the small cap space this year. Government-backed investment in quantum computing, semiconductor manufacturing, and critical minerals has accelerated sharply, and smaller companies positioning early in that supply chain, whether through actual production assets or, as in this case, an earlier-stage development platform, are drawing real investor attention as a result.
For investors tracking this space, the Mobix-SPD deal is a useful case study in distinguishing between a company aligning itself with a compelling macro theme and a company that has actually built or acquired producing assets within that theme. The rare earth and critical minerals buildout in the United States is real and accelerating. Whether any single microcap deal successfully executes on that opportunity is a separate question entirely, one that depends on capital access, permitting, technical validation, and years of infrastructure development still ahead.
