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.
Angel Island Lithium Carbonate to High-Purity Lithium Metal. Century Lithium announced that lithium carbonate produced from its wholly owned Angel Island Lithium Project in Nevada was successfully converted into high-purity lithium metal by Alpha-En Corporation using its proprietary extraction and electrodeposition technology and subsequently incorporated into cylindrical battery cells manufactured by EaglePicher Technologies. The work was completed under the U.S. Army Small Business Innovation Research (SBIR) program, which supports the development of technologies critical to national defense.
Strong Battery Performance. Testing demonstrated that the lithium metal anodes met EaglePicher’s performance specifications and delivered higher operating voltages and improved power performance compared with control cells. These results highlight the suitability of Angel Island lithium for advanced, high-energy battery applications while validating the project’s potential to supply a domestic source of battery-grade lithium for defense-related technologies.
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.
The brief window of optimism that followed the US-Iran ceasefire is closing fast. Oil shipments through the Strait of Hormuz, which had recovered to roughly 50% of pre-war levels under the June 17 memorandum of understanding, have fallen sharply over the past week as the ceasefire arrangement fell apart and active fighting resumed between US and Iranian military forces. According to Goldman Sachs, flows through the strait have dropped back to an estimated 3 to 5 million barrels per day, down from approximately 10 million barrels per day in early July.
The reversal leaves the global oil market short roughly 13.4 million barrels per day of Gulf supply, a deficit that is already showing up at the pump and in the price of crude. Brent crude has jumped more than 8% over the past five trading sessions to trade back above $84 per barrel. WTI has climbed more than 8% to above $79. Both benchmarks are moving in the wrong direction for an economy that had only just begun pricing in a post-war energy recovery.
What Went Wrong
The MOU signed June 17 was supposed to reopen the strait to pre-war commercial traffic within 30 days and establish a framework for broader negotiations. For roughly four weeks, that framework held. Tanker crossings increased, oil prices declined sharply, and the global economy began adjusting to a lower energy cost environment. Gas prices fell below $4 nationally for the first time in months.
That progress has now reversed. US Central Command announced a new wave of strikes against Iranian military targets Wednesday, the fifth consecutive day of US military action in the region. Iran has continued retaliating with attacks against US installations throughout the Gulf. A second US naval blockade of the strait, which began Tuesday evening, has already redirected commercial vessels attempting to transit the waterway. Energy market analysts at Rystad Energy have stated that expectations for near-term flow normalization have failed to materialize, and the latest escalation has further reduced the probability of a recovery in the weeks ahead.
The Small Cap Squeeze Returns
For investors in the sub-$2 billion market cap space, this reversal hits on two fronts simultaneously. The consumer-facing small caps that had only just begun to benefit from lower fuel costs are now watching that relief evaporate. Companies in transportation, logistics, food service, and retail, including names like ONE Group Hospitality and Travelzoo, are right back in the margin compression environment that characterized the spring. Diesel prices, which had been trending lower, are poised to reverse alongside crude if the strait remains effectively closed.
On the other side of the trade, domestic energy producers are seeing the price environment strengthen again. Independent oil and gas operators, including names like InPlay Oil and Alliance Resource Partners, along with midstream players like Summit Midstream Partners, benefit directly from sustained crude prices above $80. The economics for US producers improve at every dollar WTI moves higher, and the re-escalation removes the near-term risk that a permanent peace deal would collapse prices back toward pre-war levels.
Goldman Sachs strategists have cautioned that recovery this time could be slower than the initial post-ceasefire rebound, given depleted global inventories and continued shipper reluctance to route through the region even via Omani waters. China, the world’s largest crude importer, had reduced its intake by 5 million barrels per day during the first phase of the conflict, but that restraint could shift as Gulf producers adjust pricing and Beijing reassesses its long-term stockpile strategy.
The ceasefire was supposed to be the beginning of the end. Instead, the strait is closing again, and the energy cost pressure that defined the first half of 2026 is threatening to define the second half as well.
TORONTO, July 15, 2026 – Power Metallic Mines Inc. (the “Company” or “Power Metallic”) (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV1) is pleased to provide final assay results from its Winter 2026 drill program and the voting results from its Annual General and Special Meeting (“AGSM“) held on June 30, 2026, in Toronto, Ontario.
Summary
These assays from Power Metallic’s winter 2026 drill program complete the drill results to be used for the initial NI-43-101 Mineral Resource Estimate (MRE) on Lion. Completion and reporting of the MRE estimates on Lion and the Nisk deposit is scheduled for the end of July. This MRE will form the basis for a Preliminary Economic Assessment (PEA) to begin immediately following the completion of the MRE.
Lion Zone MRE In-fill program
This news release includes drill holes defining the eastern side of the Lion Zone close to surface (Figure 1). All holes are in preparation for the 2026 Mineral Resource Estimate (MRE). The infill drill holes in this release were drilled to delimit the eastern side of Lion to increase the confidence of modelling the zone, particularly within the range of a potential future open pit.
In-fill drill holes in the shallow central parts of the deposit continue to report good near surface grades as evidenced by PML-26-116 which intersected high-grade copper near surface with 36.42 m @ 2.83% CuEqRec1 at 75m below surface, including semi-massive mineralization with 6.00 m @ 12.38% CuEqRec1. (Table 1 and Figure 1).
Drill holes included in Figure 1 but not in the table of Lion results (Table 1) occur on the eastern side of Lion, delimiting the eastern edge for MRE resource modelling. These holes did intersect the favourable mineralized structure, but had low grade assays, including individual assays of up to 0.49 g/t Pt and 0.62 g/t Pd, as well as anomalous Cu and Au, defining the mineralized structure’s location. Two holes also tested near surface between Lion and Tiger, again intersecting the mineralized structure with weak Cu, Pd results.
Table 1: Final Lion Results – Winter 2026
Hole
From
To
Length
Au
Ag
Cu
Pd
Pt
Ni
CuEq Rec*
(m)
(m)
(m)
(g/t)
( g/t )
( %)
(g/t)
( g/t )
( %)
( %)
PML-26-080
125.50
150.18
24.68
0.13
5.48
0.29
0.07
–
–
0.49
Including
128.34
131.55
3.21
0.31
8.15
0.87
0.04
–
–
1.18
PML-26-083a
135.30
140.15
4.85
0.15
2.24
0.07
1.32
0.90
0.03
1.12
PML-26-107
66.00
70.00
4.00
0.23
8.50
0.25
0.03
–
–
0.52
PML-26-108
39.00
65.00
26.00
0.10
4.61
0.17
–
–
–
0.30
PML-26-111
36.00
50.00
14.00
0.12
5.52
0.46
0.76
0.02
–
0.96
Including
47.00
49.00
2.00
0.25
9.95
1.41
3.71
0.12
–
3.36
and
64.40
67.12
2.72
0.14
3.61
0.30
0.42
0.06
0.07
0.76
PML-26-113
16.50
61.00
44.50
0.60
3.48
0.20
0.13
0.02
–
0.75
Including
34.00
48.50
14.50
1.63
6.06
0.34
0.20
0.02
–
1.70
and including
47.69
48.50
0.81
26.40
6.70
0.79
2.43
0.25
0.08
21.39
PML-26-116
84.00
120.42
36.42
0.30
10.17
1.20
2.34
0.48
0.09
2.83
Including
98.50
104.50
6.00
0.96
45.48
6.10
9.15
1.68
0.43
12.38
and including
114.50
118.57
4.07
0.59
6.23
0.64
5.82
1.51
0.12
4.30
1Copper Equivalent Rec Calculation (CuEqRec1)
CuEqRec represents CuEq calculated based on the following metal prices (USD) : 2,360.15 $/oz Au, 27.98 $/oz Ag, 1,215.00 $/oz Pd, 1000.00 $/oz Pt, 4.00 $/lb Cu, 10.00 $/lb Ni and 22.50 $/lb Co., and recovered grades based on recent locked-cycle metallurgical recoveries by SGS Canada Inc (see press release Jan 21, 2006).
2 Reported length is downhole distance; true width based on model projections is estimated as 85% of downhole length
Power Metallic is expecting more assay results from the summer drilling program, including regional exploration in the weeks to come.
Annual General and Special Meeting Results
Power Metallic’s held its AGSM on June 30, 2026, in Toronto, Ontario.
Shareholders voted in favor of all items of business presented at the AGSM, as outlined in the proxy-related materials, including the Notice of Meeting and the Information Circular dated May 15, 2026 (the “Information Circular“). These items included the election of directors such that each of Terry Lynch, Peter Kent, Les Mallard, Greg McKenzie, Steve Beresford, and Seamus O’Regan were elected as directors, the appointment of the Company’s auditor, MNP LLP, the re- approval of the Omnibus Equity Incentive Plan, and the approval of an amendment to the Company’s Articles to increase the quorum threshold for shareholder meetings. Just over 33.42% of the Company’s issued and outstanding common shares as of the record date of the AGSM were voted. For more information on the resolutions and the Omnibus Equity Incentive Plan, shareholders are encouraged to refer to the Information Circular available at the Company’s profile on SEDAR+.
The shareholder approval of the Articles’ amendment to increase the quorum threshold for shareholder meetings to 33-1/3%, will allow the Company’s Articles to meet the quorum threshold expected for companies listed on a U.S. national stock exchange. With shareholder approval in hand, and as disclosed in the Information Circular, the Company intends to implement the Articles amendment at such time as the Board of Directors has determined to proceed with seeking a listing on a U.S. national stock exchange.
“We are grateful for the strong support of our shareholders at this year’s Annual General and Special Meeting. Receiving approval for the amendment to our Articles to align our quorum threshold with U.S. national exchange requirements is a meaningful step forward in our mission to bring Power Metallic’s story to a broader investor audience. With the Lion Zone delivering some of the highest-grade polymetallic intercepts in the world, exceptional metallurgical recoveries, and a pipeline of catalysts ahead — including our upcoming mineral resource estimate — we believe a U.S. national exchange listing will unlock a significant re-rating opportunity and introduce this company to a broader community of institutional and retail investors.” — Terry Lynch, CEO, Power Metallic Mines Inc
Qualified Person
Joseph Campbell, P. Geo, VP Exploration at Power Metallic, is the qualified person who has reviewed and approved the technical disclosure contained in this news release.
About Power Metallic Mines Inc.
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 ~330 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 Jabal Said 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.
For further information, readers are encouraged to contact: Power Metallic Mines Inc. The Canadian Venture Building 82 Richmond St East, Suite 202 Toronto, ON
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
QAQC and Sampling
GeoVector Management Inc (“GeoVector”) is the Consulting company retained to perform the actual drilling program, which includes core logging and sampling of the drill core.
All core in this news release is either HQ or NQ sized core. Drill core is re-fitted and measured. Geotech on core includes photographs (wet & dry), rock quality index, magnetic susceptibility, conductivity, and recovery estimates. Core is logged for lithology, mineralogy, and structural features, and sample intervals are delineated and tagged.
Sampled core is mechanically sawn, and half-core is retained for future reference. GeoVector’s QAQC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results. QAQC and data validation was performed, and no material errors were observed.
All samples were submitted to and analyzed at Activation Laboratories Ltd (“Actlabs”), a commercial laboratory independent of Power Metallic with no interest in the Project. Actlabs is an ISO 9001 and 17025 certified and accredited laboratories. Samples submitted through Actlabs are run through standard preparation methods and analysed using RX-1 (Dry, crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 μm) preparation methods, and using 1F2 (ICP-OES) and 1C-OES – 4-Acid near total digestion + Gold-Platinum-Palladium analysis and 8-Peroxide ICP-OES, for regular and over detection limit analysis. Pegmatite samples are analyzed using UT7 – Li up to 5%, Rb up to 2% method. Actlabs also undertake their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration.
This message contains certain statements that may be deemed “forward-looking statements” concerning the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential,” “indicates,” “opportunity,” “possible” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. 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, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, among others; the timing for various drilling plans; the ability to raise sufficient capital to fund its obligations under its property agreements going forward and conduct drilling and exploration; to maintain its mineral tenures and concessions in good standing; to explore and develop its projects; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations; future prices of nickel and other metals; changes in general economic conditions; accuracy of mineral resource and reserve estimates; the potential for new discoveries; the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if accepted, to obtain such licenses and approvals in a timely fashion relative to the Company’s plans and business objectives for the applicable project; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry.
July 15, 2026 – Vancouver, Canada – Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (“Century Lithium” or “the Company”) is pleased to announce that lithium carbonate produced from its 100% owned Angel Island Lithium Project in Nevada, USA (“Angel Island”) was successfully converted into lithium metal using Alpha-En Corporation’s (“Alpha-En”) proprietary extraction and electrodeposition process and incorporated into cylindrical cells manufactured by EaglePicher Technologies (“EaglePicher”). This work was supported by funding from the US Army Small Business Innovation Research (“Army SBIR”) program, which aims to accelerate the development of innovative technologies critical to national defense.
“Alpha-En has done outstanding work converting lithium carbonate from Angel Island into high-purity lithium metal, which was then incorporated by EaglePicher in cells tested under the U.S. Army SBIR program,” said Bill Willoughby, President and CEO of Century Lithium. “The results from this first phase program are important for Century Lithium and further highlight Angel Island as a quality domestic source of lithium.”
The lithium metal anodes produced from Angel Island lithium carbonate by Alpha-En met EaglePicher’s performance specifications and were integrated into EaglePicher’s cylindrical cells for testing. Initial discharge results demonstrated higher operating voltages and improved power performance compared to the control cells, key attributes for demanding defense applications which require lightweight, high-energy, and high-power battery systems.
“This Army SBIR-supported effort demonstrates that high-performance lithium metal anodes can be manufactured directly from US-sourced lithium resources,” said Landon Oakes, Chief Technology Officer of Alpha-En. “By integrating domestic raw materials with our membrane extraction and electrodeposition platform, we are establishing a secure, vertically integrated pathway for next-generation battery anodes that reduces reliance on foreign supply chains.”
This successful demonstration represents a significant step toward strengthening the domestic defense battery supply chain. By connecting US-based lithium resources, advanced lithium metal manufacturing, and domestic cell fabrication, the collaboration supports the US Army’s objective of securing critical mineral independence while advancing high-performance battery technologies for future defense systems.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Todd S. Fayram, MMSA-QP, Chief Technical Officer of Century Lithium, a non-independent Qualified Person under NI 43-101. The content in this news release has been approved by all parties mentioned.
ABOUT CENTURY LITHIUM CORP.
Century Lithium Corp. is an advanced-stage lithium development company focused on its 100%-owned Angel Island lithium project in Esmeralda County, Nevada. Angel Island hosts one of the largest known sedimentary lithium deposits in the United States and is designed with an integrated, end-to-end process for the on-site production of battery-grade lithium carbonate to support the electric vehicle and battery storage markets.
The Company has developed a patent-pending process that incorporates hydrochloric acid leaching combined with direct lithium extraction to produce battery-grade lithium carbonate. As part of the integrated chlor-alkali process, Angel Island is designed to produce sodium hydroxide as a co-product, with planned surplus sales expected to lower operating costs, reduce reliance on externally sourced reagents, and minimize environmental impacts.
Century Lithium is currently advancing Angel Island through the permitting process.
Century Lithium trades on the TSX Venture Exchange under the symbol “LCE” the OTCQX under the symbol “CYDVF”, and on the Frankfurt Stock Exchange under the symbol “C1Z”.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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 found under the Company’s profile at www.sedarplus.ca. 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.
July 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 Dr. Corby G. Anderson, who has served as an Independent Director of Century since 2023, as Chair of the Board of Directors, effective immediately. Mr. Bryan Disher, who has served as Chair since June 2023, will remain on the Board as a non-executive Director and continue as Chair of the Audit Committee.
“On behalf of the Board and management, I want to thank Bryan for his leadership as Chair over the past three years,” said Bill Willoughby, President and CEO of Century Lithium. “His guidance through a period of significant technical and corporate advancement has been invaluable, and we are fortunate that he continues to serve as a Director and Chair of our Audit Committee. I look forward to working with Corby in his new role as we move the Company forward in permitting and development.”
ABOUT CENTURY LITHIUM CORP.
Century Lithium Corp. is an advanced-stage lithium development company focused on its 100%-owned Angel Island lithium project in Esmeralda County, Nevada. Angel Island hosts one of the largest known sedimentary lithium deposits in the United States and is designed with an integrated, end-to-end process for the on-site production of battery-grade lithium carbonate to support the electric vehicle and battery storage markets.
The Company has developed a patent-pending process that incorporates hydrochloric acid leaching combined with direct lithium extraction to produce battery-grade lithium carbonate. As part of the integrated chlor-alkali process, Angel Island is designed to produce sodium hydroxide as a co-product, with planned surplus sales expected to lower operating costs, reduce reliance on externally sourced reagents, and minimize environmental impacts.
Century Lithium is currently advancing Angel Island through the permitting process.
Century Lithium trades on the TSX Venture Exchange under the symbol “LCE” the OTCQX under the symbol “CYDVF”, and on the Frankfurt Stock Exchange under the symbol “C1Z”.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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.ca. 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.
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.
Private Placement Financing. First Phosphate completed the final tranche of its non-brokered private placement with the issuance of 960,500 flow-through shares and 178,325 hard dollar units. Across both tranches, the company raised total gross proceeds of C$17,698,290 with the issuance of 7,238,070 flow-through shares and 1,611,075 hard dollar units. The hard dollar units were priced at C$2.00 per unit and included one common share and one warrant exercisable at C$2.50 per share through December 31, 2026, subject to accelerated expiry. The flow-through shares were issued at C$2.00 per share.
Board Appointment. First Phosphate appointed Mr. Peter Kent to its board of directors, effective July 10, expanding the board to five members from four. Mr. Kent, who previously served as President, director, and advisor to the company, replaces Mr. John Passalacqua, CEO and director, on the Audit Committee. A former Canadian Minister of the Environment and Minister of State for the Americas, Mr. Kent brings extensive experience in environmental assessment, resource development policy, and regulatory affairs.
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.
Updating Estimates. We have increased our 2Q 2026 revenue, EBITDA, and EPU estimates to $553.5 million, $181.2 million, and $0.62, respectively, from $521.6 million, $164.8 million, and $0.54. We increased our 2Q coal sales estimate to 8.7 million tons from 8.3 million tons as we have recalibrated the cadence of sales for the remaining quarters of 2026 while keeping annual coal sales at 35.0 million tons. Other adjustments include modestly higher coal pricing and a recalibration in the quarterly cadence of Other Revenue. We have increased our FY 2026 revenue, EBITDA, and EPU estimates to $2.209 billion, $723.7 million, and $2.22, respectively, from $2.198 billion, $714.7 million, and $2.20.
AllDale Minerals Acquisition. Alliance Resource Partners (ARLP) recently completed its previously announced acquisition of the remaining ownership interests in AllDale Minerals III and IV for approximately $206.2 million, strengthening its Oil & Gas Royalties business. The transaction was funded through a combination of cash on hand, borrowings under the company’s revolving credit facility, and a new $150 million term loan maturing in January 2028.
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.
TULSA, Okla.–(BUSINESS WIRE)–Alliance Resource Partners, L.P. (NASDAQ: ARLP) will report its second quarter 2026 financial results before the market opens on Monday, July 27, 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 13761715.
About Alliance Resource Partners, L.P.
ARLP is a diversified natural resource 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-related technologies and 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 email at [email protected].
Contacts
Investor Relations Contact Cary P. Marshall Senior Vice President and Chief Financial Officer 918-295-7673 [email protected]
NEW YORK – July 10, 2026 (GLOBE NEWSWIRE) – OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Tectonic Metals Inc. (TSX-V: TECT; OTCQX: TETOF), a mineral exploration company, has qualified to trade on the OTCQX® Best Market. Tectonic Metals Inc. upgraded to OTCQX from the OTCQB® Venture Market.
Tectonic Metals Inc. begins trading today on OTCQX under the symbol “TETOF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.
Tony Reda, Co-Founder, President & CEO of Tectonic Metals, commented: “Trading on the OTCQX is a major milestone that furthers our strategy to expand Tectonic’s reach across North American capital markets. The completion of our largest financing to date, which raised more than C$92 million in March 2026, was a key catalyst that supported this transition. With five rigs now turning at our Flat Gold Project in Alaska as part of our largest-ever drill program, we are well positioned to broaden our U.S. investor base and increase market awareness at a pivotal stage in the Company’s growth.”
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.
Key members of the Tectonic team were involved in Kaminak Gold Corporation, the company that raised C$165M to fund the acquisition, discovery and advancement of the Coffee Gold Project through to the completion of a bankable feasibility study before selling the multi-million-ounce gold project to Goldcorp Inc. for C$520 million in 2016.
For more information, please visit tectonicmetals.com.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our public markets: OTCQX® Best Market, OTCQB® Venture Market, OTCID® Basic Market and Pink Limited™ Market. Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.
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ULSA, OKLAHOMA, July 2, 2026 — Alliance Resource Partners, L.P. (NASDAQ: ARLP) (“ARLP”) today announced that it has completed its previously announced acquisition of certain general partner and limited partner interests in AllDale Minerals III, LP and AllDale Minerals IV, LP for approximately $206.2 million, subject to customary post-closing adjustments.
ARLP funded the acquisition using a combination of cash on hand, borrowings under its revolving credit facility, and a new $150.0 million term loan at its wholly owned subsidiary Alliance Minerals, LLC.
Following the acquisition, ARLP now controls approximately 115,680 net royalty acres within its Oil & Gas Royalties segment, including over 44,770 net royalty acres in the Permian Basin. ARLP expects to provide additional commentary regarding the acquisition during its next quarterly earnings conference call.
About Alliance Resource Partners, L.P. ARLP is a diversified natural resource 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-related technologies and 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 email at [email protected].
Investor Relations Contact Cary P. Marshall Senior Vice President and Chief Financial Officer 918-295-7673 [email protected]
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.
2026 Drill Program. Resolution continues to de-risk its flagship Horse Heaven Antimony-Tungsten-Gold-Silver Project in Idaho. The company has completed 16 diamond drill holes totaling 4,470 meters at the Golden Gate South target, maintaining a rapid drilling rate while keeping geological logging and sample preparation current. With approximately one-third of the drilling campaign complete, Resolution is advancing Golden Gate toward its first mineral resource estimate, which is expected during the first quarter of 2027. Successful drilling could substantially de-risk the project and establish the foundation for future economic studies.
Defining Scale and Continuity. The program is designed to define the scale and continuity of gold mineralization along strike and at depth while also evaluating the extent of tungsten mineralization surrounding the historic Golden Gate Tungsten Mine and a large tungsten soil anomaly. The campaign builds on encouraging 2025 drilling results that intersected broad intervals of gold mineralization.
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.
Toronto, Ontario–(Newsfile Corp. – June 30, 2026) – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (“Aurania” or the “Company”) announces that its Board of Directors granted 3,260,000 stock options to directors, officers, and employees (the “Optionees”) pursuant to the terms and subject to the conditions of the Company’s Incentive Stock Option Plan.
The 3,260,000 stock options were granted to directors, officers, and employees on June 30, 2026, and have an exercise price of C$0.185. These options are exercisable for five years from the date of grant and the options shall vest in thirds on the date of grant and each of the first and second anniversaries of the dates of grant, always subject to the Optionee’s maintenance of continuous status as an employee, director, or officer of the Company.
In addition to the options noted above, certain Directors of the Company agreed to receive their quarterly director fees for the second quarter of 2026 in the form of stock options in lieu of cash. On June 30th, 2026, an aggregate of 94,500 stock options was granted to directors in lieu of their director fees for the second financial quarter of 2026. All such stock options will be exercisable at a price of C$0.185 for a period of three years from the date of grant and vested immediately upon grant. In the event a director intends to exercise such stock options, such director shall be solely responsible for paying the entirety of the exercise price.
About Aurania Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and critical energy in Europe and abroad.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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.
Private Placement Financing. Aurania Resources closed the second and final tranche of its non-brokered private placement, raising C$578,370.96 through the sale of 3,213,172 units at a price of C$0.18 per unit. Combined with the first tranche, the financing generated gross proceeds of C$1,256,634.72 through the issuance of 6,981,304 units at a price of C$0.18 per unit. Each unit is composed of one common share and one warrant exercisable at C$0.35 per share for a period of 24 months following the date of issuance.
Use of Funds. Net proceeds from the financing will be used for exploration at the Thor’s Valley epithermal gold project in Iceland, the Balangero nickel-cobalt tailings retreatment project in Italy, and for general working capital. Following the financing, we estimate the company has 139,236,609 shares outstanding.
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.
