Categories
Base Metals Junior Mining Precious Metals Uncategorized

Your Crystal Ball for 2023

No one, has a crystal ball when it comes to the future. But, we wanted to share how you may want to position ourself for the future.

#1 PURCHASE PHYISCAL PRECIOUS METALS

  • Why: As a Savings/Financial Insurance/Protection from Government Stupidity.
  • Where to Buy: Maurice Jackson: https://www.milesfranklin.com/faq-maurice/
  • Frequency: Every 2 Weeks.
  • Percentage of Portfolio: Minimum 10%, but we hold approximately 35% in our portfolio.
Economics in One Lesson, Proven and Probable

GREAT FOUNDATIONAL READINGS:

  • Methodology: Using the Ratio’s.
  • Dow:Gold Ratio is indicating that Gold is on sale relative to the Dow. When the ratio is between 4-5, it is more favorable to be in general equities and real estate. At present the ratio is 1 share of the Dow = 18 oz of Gold.
  • Looking further, Silver and Platinum are on sale relative to Gold.
  • Gold:Silver Ratio At present 1 oz of Gold = 76.5 oz of Silver. When the ratio is between 45-54 trade your Silver in for Gold. Note: Silver Eagles have demanded a significant premium the past 8 months. Which actually reduced the Gold:Silver Ratio inside the 45-54 range.
  • Platinum:Gold Ratio: At present .59 oz of Platinum is = 1 oz of Gold. When the ratio is equal to and or greater than 1, trade your Platinum in for Gold.
  • A great resource on the power of Ratio’s and when to buy and sell is: Bob Moriarty’s: Nobody Knows Anything (Must Read)!
Nobody Knows Anything, Proven and Probable

#2 ROYALTY AND PROJECT GENERATORS

  • Royalty and Project Generators use a unique business model relative to their mining industry peers.
  • Why: They tend to outperform mining exploration companies accretively (Highlighted Below):

ROYALTY COMPANIES: https://www.visualcapitalist.com/sp/how-precious-metals-royalty-and-streaming-companies-create-value

PROJECT GENERATORS: https://www.visualcapitalist.com/project-generators-exploration-risk-lower-cost/

#3 JUNIOR MINING/EXPLORATION COMPANIES

  • These companies are most speculative and offer tremendous upside and conversely a lot of downside. We are biased and are active buyers of our partner/advertisers found (Here). For a deeper dive into the mining/exploration industry: (Must Reads):
  • What Became of the Crow by Bob Moriarty
  • Mineral Exploration and Mining Essentials by Robert Stevens
Mineral Exploration and Mining, Proven and Probable

EXPLORATION COMPANIES: https://www.visualcapitalist.com/mineral-exploration-roadmap/

#4 HOLD YOURSELF ACCOUNTABLE

  • Commit your future to paper. Not having a plan, is a plan. A foolish one, but is a plan. If you don’t have a plan for your savings and investments someone else does. SCHEDULE YOUR PATH.
  • Be willing to study each of the aforementioned. Don’t believe the hype! Don’t get mislead by fancy thumbnails, price predictions, and narratives on manipulation. Is there manipulation? Yes, in every market! Don’t complain about manipulation, learn to leverage manipulation in your favor by realizing you are being offered a discounted price!
  • Be pragmatic, and be patient. Your competition is never patient. They want to price to rise on their schedule, which was yesterday. They will be your best friends, because they have have fast hands and love to sell at the wrong time. If the price goes down, and nothing fundamental has changed with management, the project/s, and or results, there is your buying opportunity!!!
  • Very few investors/speculators are in this space, you don’t have much competition. The best way to beat your competition in this space, is not to follow the herd. Remember, no one get’s it right all the time, you just need to be better than your competition.
Categories
Base Metals Breaking Energy Junior Mining

Copper Is Heading For New Highs- A Bullish Trend In Nevada Copper (NEVDF)

  • Copper corrected from the May record high and made higher lows
  • Four reasons the copper bull will take the price to new highs
  • Impressive price action in the face of Chinese selling
  • Nevada Copper- Three reasons why NEVDF is could outperform percentage gains in the nonferrous metal
  • Bull markets rarely move in straight lines- The next leg for the copper bull has begun

When Goldman Sachs called copper “the new oil” in April 2021, the price was on its way to a new record high at nearly $4.90 on the nearby COMEX futures contract. The world’s most active and liquid copper market on the London Metals Exchange reached a peak at over $10,700 per ton in May. Copper blew through the 2011 $4.6495 previous all-time peak as a hot knife goes through butter.

Even the most aggressive bull markets rarely move in straight lines. Corrections can be brutal when prices accelerate on the upside, reaching unsustainable short-term peaks.

Copper ran out of upside steam before touching the $4.90 per pound level on futures and $10,750 per ton level on LME forwards. The price fell just below the $4 level in August, three months after reaching the high. Copper was still “the new oil” when the price dropped, and the world’s leading copper consumer was hoping it would continue to fall. China has done everything to push copper’s price lower, but the red metal has exhibited remarkable resilience.

Meanwhile, Nevada Copper Corporation (NEVDF) has been working day and night to ramp up production and transform its balance sheet. The market has rewarded the company as the share price has been steadily increasing since the beginning of October.

Mining companies provide investors with leveraged exposure to a commodity as they tend to outperform the price action on the upside and underperform during corrections. Junior mining companies can magnify the leverage. Copper’s recent explosive move suggests that new highs are on the horizon. NEVDF has the potential to do even better on a percentage basis as the company ramps up its production of the red industrial metal.  

Copper corrected from the May record high and made higher lows Copper futures ran out of steam at just below the $4.90 level, with the LME forwards moving the $10,747.50 per ton level for the first time. The May highs led to a substantial correction that briefly took COMEX futures below $4 per pound in August.

Source: CQG The chart shows the decline from $4.8985 in May to a low of $3.9615 in mid-August, a 19.1% correction. COMEX futures made higher lows of $4.0220, $4.0545, and $4.1140 in late September and early October before blasting off on the upside to over the $4.70 level as of October 15.

Source: Barchart

The chart illustrates the decline from $10,747.50 on May 10 to a low of $ 8,740 per ton on August 19 as copper forwards corrected by 18.7%. Copper then made higher lows at $8,810 on September 21 and $8,876.50 on October 1 before exploding higher to the $10,281 level on October 15.

Four reasons the copper bull will take the price to new highs

The four leading factors supporting a continuation of new and higher highs in the copper market are:

  • Rising inflation– CPI rose by 5.4% in September, once again exceeding expectations. While the Fed will likely begin tapering quantitative easing, tapering is not tightening. Moreover, fiscal stimulus continues as the multi-trillion budget will pump more inflationary stimulus into the economy.
  • Building demand– The infrastructure rebuilding package in the US will increase copper requirements for construction projects to rebuild the crumbling roads, bridges, tunnels, airports, schools, and government buildings over the coming years. Moreover, China’s copper requirements will continue to increase as the world’s most populous country builds infrastructure.
  • Decarbonization– Addressing climate change boosts copper demand. As Goldman Sachs said in April, decarbonization does not occur without copper, making the metal “the new oil.” Copper requirements for EVs, wind turbines, and other clean energy projects is a multi-decade affair for the red metal.
  • Supply shortages– Copper mining companies are scrambling to find new supply sources. Production can’t keep pace with demand- It takes eight to ten years to bring new copper mining projects on stream. BHP, a leading global mining company, is in talks with Ivanhoe Mines for participation in the Western Foreland exploration area in the politically dicey Democratic Republic of the Congo.  

Bull markets tend to experience severe selloffs. China has attempted to cool off the bullish copper and other nonferrous metals markets. The world’s leading copper consumer has the most to lose from runaway prices on the upside.

Impressive price action in the face of Chinese selling

On September 1, China auctioned 150,000 tons of copper, aluminum, and zinc from strategic stockpiles, which was the third auction sale since early July, attempting to temper the market’s bullish price action. The market had expected the sales. Copper rallied to the highest level since early August on September 13, with many other base metals following the red metal higher. The price then retreated, but copper made a higher low on September 21. The Chinese auction to cool off the rally put 80,000 tons of copper, 210,00 tons of aluminum, and 130,000 tons of zinc into the market since early July. Since the day of the first auction, copper, aluminum, and zinc prices all posted gains. Imagine where prices might be if China did not sell from its strategic stocks.

In early October, China auctioned the fourth round of base metals, lifting the total sales to 570,000 metric tons. Copper and all the base metals posted explosive gains after the latest auction. China is selling copper, aluminum, and zinc from its strategic stockpiles. The attempt to stem price appreciation makes the Chinese a buyer of the metals on price weakness to replace its stocks. However, the auctions have not had the desired impact on price. The price action has been more than impressive in the face of the sales.

While BHP looks towards the DRC and other regions for new copper supplies, Nevada Copper is making significant headway on its production project in a highly stable political and economic environment in the United States. Moreover, Nevada is a state that continues to encourage mining activity and is rich in red metal reserves.

Nevada Copper- Three reasons why NEVDF has the potential to outperform percentage gains in the nonferrous metal

Nevada Copper (NEVDF) has made great strides over the past weeks and months. A successful junior mining company is positioned best to profit during a bull market in the commodity it extracts from the earth’s crust. Three factors support the price of NEVDF shares as copper has taken off on the upside again:

Factor one: Turing the corner on operations in Q3- On October 6, NEVDF provided an update on operational performance at the company’s underground mine at its Pumpkin Hollow project, noting:

  • Copper in concentrate produced during September increased by 265% compared to August, driven by higher stope production. Approximately 30,386 tons of ore processing yielded 682 tons of copper concentrate at an average grade of 22%, reflecting 150 tons of copper output.
  • Stoping is the process of extracting the desired ore or mineral from an underground mine, leaving open space called a stope. Stoping at Pumpkin Hollow significantly accelerated since mid-August, with the second and third stope panels fully mined and a fourth stope panel currently being mined. Further stopes are planned for October and November, and the high-grade Sugar Cube zone to be mined during the final months of 2021.
  • NEVDF experienced the highest monthly development footage achieved since April 2021 in September, with a 12% increase over August. Approximately 750 lateral equivalent feet were advanced in September.

Outgoing Interim CEO Mike Brown said, “I am very pleased to see the improved trajectory in our production ramp-up and a recovery in productivities. The increased ore production was a key objective for September, and together with the improving productivities on-site, along with the ongoing management strengthening, provide further confidence in the mine ramp-up.”

Randy Buffington, a veteran mining executive with previous management experience at Barrick, Placer Dome, and Cominco, is taking over as President and CEO at Nevada Copper.

Factor two: On October 12, NEVDF announced it had agreed with its senior project lender and concluded a non-binding term sheet with its largest shareholder to provide additional financing and a significant deferral and extension of its debt facilities. The move offers Nevada Copper greater balance sheet flexibility and support for the ramp-up of its underground mining operations and advancement of its open-pit project and broader property exploration targets. The highlights of the more flexible financing arrangement include:

  • Two-year deferral of first loan repayments scheduled to begin in July 2025.
  • Extension of loan amortization with the final maturity pushed to July 2029.
  • Deferral of the formal long stop date for the project as the completion test was deferred to June 2023.
  • All outstanding shareholder loans were consolidated under an amended existing shareholder credit facility.
  • A two-year extension to maturity data until 2026 with no scheduled payments before final maturity.
  • An increase of $41 million in additional liquidity under the amended credit facility.

Randy Buffington, NEVDF’s new CEO, said, “These combined balance sheet improvements provide significant additional runway for the Company as we move forward to complete the ramp-up of our underground operations. The ongoing support of two of our major stakeholders provides further validation of the significant inherent value of our copper operations in Nevada and allows us to continue to pursue the growth potential embedded within our asset base.”

Factor three: NEVDF’s value proposition is compelling when compared to peers. The chart shows NEVDF’s market cap versus its enterprise value compared to other diversified metals and mining companies with similar market caps:

Source: Seeking Alpha

As the chart highlights, the enterprise value is over 2.2 times the current $173.53 million market cap, leading to plenty of upside room for NEVDF shares. There is plenty of room for growth as the enterprise value will rise with output from the underground and open-pit mining operations over the coming months and years. According to data from Seeking Alpha, at 97 cents per share on October 15, NEVDF had a $173.53 million market cap. The average daily volume in the past 15 trading days from all exchanges stood at just over 2,500,000 shares.

Source: Barchart

The chart shows the rise from 38.78 cents on October 1 to a high of 99.2 cents per share on October 14. NEVDF shares closed not far from the high at 96.56 cents on Friday, October 15.

The trend in copper and NEVDF is bullish, and the trend is always your best friend in markets.

Bull markets rarely move in straight lines- The next leg for the copper bull has begun

Bull markets can be bucking broncos as corrections are often downdrafts in prices. Copper’s decline from nearly $4.90 to below $4 and recovery to over $4.70 on October 15 is a bullish sign for the red metal.

Copper’s strength, along with the other base metals in the face of Chinese stockpiling selling, has been more than impressive and is a testament to the bullish factors that are likely to push the price higher. Goldman Sachs expects LME copper forwards to reach the $15,000 per ton level by 2025, putting COMEX futures over $6.80 per pound. Other analysts see the price rising to as high as $20,000 per ton as decarbonization will keep demand outpacing supplies.

Bull markets often take prices far higher than analysts believe possible before they peak. As the world searches for more copper to meet the rising demand, Nevada Copper’s mines are in the most economically and politically stable region of the world. NEVDF shares may have just begun to rally as the price threatens to move over the $1 per share level.

Categories
Base Metals Blog Energy Junior Mining Top Bar

HOT CHILI | Releases Maiden Cortadera Resource Adds 451Mt grading 0.46%CuEq*


Mineral Resource


Corporate Presentation

 

Hot Chili Drilling

Building a copper super hub in Chile – ASX: HCH

Hot Chili is one of the top ASX listed copper developers with a Leading Global Copper Project with 2.9Mt copper, 2.7Moz gold, 9.9Moz Silver and 64kt molybdenum – Costa Fuego

Hot Chili Limited (ASX.: HCH) ACN 130 955 725
First Floor, 768 Canning Highway, Applecross, Western Australia 6153
PO Box 1725, Applecross, Western Australia 6953
P: +61 8 9315 9009 F: +61 8 9315 5004
www.hotchili.net.au

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Base Metals Energy Exclusive Interviews Junior Mining Precious Metals Top Bar

Find Out Why Rio Tinto just entered into a $45,000,000 Earn-in Agreement with this Explorer

Calibre Mining (TSX: CXB | OTC: CXBMF)


Transcript

In this exclusive interview, Ryan King the VP for Corporate Development and Investor Relations for Calibre Mining shares the value proposition the company presents to the Market. Calibre Mining is a multi-asset gold producer focused on execution and building sustainable value for our shareholders, communities we operate in, and all stakeholders. The company has completed a series of successive accretive transactions for their shareholders which we will address throughout the interview.
First, we will discuss the $45 Million Dollar Earn-In Agreement with Rio Tinto on Calibre’s Borosi Projects which host both gold-silver and copper-gold resources in two areas as well as multiple lesser explored copper-gold skarns, low-sulphidation epithermal gold-silver vein systems and bulk tonnage copper-gold porphyry targets. Second, we will discuss B2Gold And Calibre Mining joininig forces in Nicaragua on the El Limon and La Libertad Gold Mines in addition to completed a CDN$100 Million Equity Financing. Finally, we discuss the expansive, ambitious 40,000 Metre diamond core drilling exploration program that Calibre will be embarking upon on the aforementioned El Limon and La Libertad gold mines. Discover why the value proposition of Calibre Mining is extremely compelling!


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Precious Metals Top Bar

Silver Canadian Maple Leaf Special


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Miles Franklin801 Twelve Oaks Center DriveSuite 834Wayzata, MN 553911-800-822-8080www.milesfranklin.com

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Junior Mining

Ethos Gold Corp. Announces Amended Terms & Increases Size of Flow-Through Financing to Raise $1.5 Million

Ethos Gold

(TSX.V: ECC | OTXQX: ETHOF)

*FOR ACCREDITED INVESTORS ONLY*

Vancouver, British Columbia–(Newsfile Corp. – October 28, 2019) – Ethos Gold Corp. (TSXV:ECC) (“Ethos” or the “Company“) announces that it has revised the terms and size of the non-brokered private placement announced September 20, 2019. Ethos is now proceeding with a flow-through offering to raise gross proceeds of up to $1,512,000 by the issuance of up to 5,600,000 units (each a “FT Unit”) at a price of $0.27 per FT Unit (the “FT Offering”). Each FT Unit will comprise one flow-through common share (a “FT Share”) and one half of one non flow-through common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable at a price of $0.30 into one common share for a period of two years from the date of issuance. The FT Shares will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada).

For more details click below. If you are qualified and want to participate please reference Proven & Probable and contact the following:

Sherman Dahl

Tel. 250.558.3340

dahl.sherman@pretiumgroup.ca 

Tom Martin
Corporate Communications
Tel: 1-250-516-2455
Email: tmartin@ethosgold.com


Finance Details


Categories
Base Metals Energy Exclusive Interviews Junior Mining

NEVADA COPPER Company on Target to U.S. Copper Production by Q4 2019

Matt Gili the CEO, President, and Director of Nevada Copper (TSX: NCU | OTC: NEVDF) sits down with Maurice Jackson of Proven and Probable to discuss the value proposition of Nevada Copper, which is on target for U.S. production in Q4 2019. Mr. Gili, provides updates on the flagship Pumpkin Hollow Project, which hosts both an underground and open-pit deposits. We provide an overview on the supply an demand fundamentals on Copper, where a prudent speculator may position themselves to take advantage of the copper supply deficit.

VIDEO

AUDIO

TRANSCRIPT

Source: Maurice Jackson for Streetwise Reports  (3/18/19)

Maurice JacksonMatt Gili, CEO of Nevada Copper, talks with Maurice Jackson of Proven and Probable about his company’s progress in beginning copper production by the end of the year.

Pumpkin Hollow

Pumpkin Hollow
Maurice Jackson: Joining us for a conversation is Matt Gili, president, CEO and director of Nevada Copper Corp. (NCU:TSX), which is on target to U.S. copper production by Q4 2019.
Nevada Copper has a number of successes to share with reader. But, before you share the unique value preposition of Nevada Copper, Mr. Gili, for readers who may not be familiar with the supply and demand fundamentals regarding copper, please provide us with a 10,000-foot overview.

Matt Gili: When you look at the copper fundamentals, we see a very steady and predictable increase in demand of copper, modest amount, 1.5% per year. We see the move towards electrification of vehicles consuming more copper. We see other things that are offsetting that, but overall, a steady predictable 1.5% increase in the global demand for copper. Where the story really gets exciting, from the Nevada Copper standpoint, is with regards to the supply for copper. What we’re seeing is a lot of restrictions in future supply. We’re seeing a lot of difficulties on bringing on a future supply and backed up by work done by Wood Mackenzie and others, we’re projecting that by 2025, the world will be in a supply deficit of upwards of 6 million tonnes of copper per year. This just really supports what we’re doing in Nevada Copper in setting up the next copper mine.
Maurice Jackson: Now that we have an overview of the supply and demand fundamentals for copper, Matt, let’s discuss how someone listening may position himself prudently as a beneficiary. For someone new to the story, can you give us a very quick overview of Nevada Copper?

Matt Gili: Certainly. Nevada Copper, who’s Nevada Copper? We have an asset in Nevada called Pumpkin Hollow. This is our chief asset. It consists of two deposits: an underground deposit and an open-pit deposit for copper. We’re currently in the construction phase for the underground project with production from that underground project coming online later this year. I think we’ll talk more about that later. Regarding the open pit, we’re currently in the process of wrapping up the prefeasibility study for the open pit. You’ll see that being published in April of this year. Then, we have a regional land package of well over 15,000 acres that we are looking at really understanding, really unlocking the full value from that land package. That’s really Nevada Copper, building a copper mine coming into production later this year, with a lot of expansion into an open-pit mine, as well as regional exploration.

Maurice Jackson: Let’s provide readers the latest updates on Nevada Copper, as the company has been very proactive on a number of fronts. Please provide us with an update on the construction progress. I would like to begin with the multi-million dollar question, are we on track to enter production in Q4 of this year?
Matt Gili: Yes, Maurice, we are on track to enter production in Q4 of this year. We are very proud of that. The team’s doing a fantastic job. We have construction activities both on surface with Sedgman building the process plants, as well as underground cementation, both sinking shaft and doing lateral development on our main shaft. All that’s coming together very nicely. We are absolutely on track for commissioning of the plant in the fourth quarter of this year.
Maurice Jackson: As Nevada Copper is preparing for production this year, have you increased your staffing to meet the growing demands?
Matt Gili: That’s a really good question and yes, we have. We’ve increased our staffing. It’s an operational readiness question that you’re asking. This is where I want to stress to you and readers that this concept of operational readiness is foremost in our thoughts and how we’re planning for really becoming, not just building a great mine, but operating a great mine. When you look at the staffing, so far, our staffing, by design, is quite modest. We’re looking at a total workforce of Nevada Copper employees of around 30. That is because this is our model, a very lean, efficient operation. We utilize high-quality, expert service providers as necessary, to make sure that we are operating very efficiently.
Maurice Jackson: Is Nevada Copper still actively recruiting and if so, what positions?
Matt Gili: Yes, we are actively recruiting. Most of our positions open are technical and specialist positions, and would be part of the management team. I absolutely encourage anyone interested in what we’re recruiting for to contact the Nevada Copper website. You’ll see the complete listing of opening jobs there, as well as information on how to apply for any of these positions if you’re interested.
Maurice Jackson: Pumpkin Hollow is unique in that you have both an underground and an open-pit mine. Let’s discuss exploration and expansion potential. What initiatives is Nevada Copper taking to optimize the full potential of the Pumpkin Hollow project?

Matt Gili: We are in the process of constructing the underground, which has a large amount of upside potential. We’ll really only explore that upside potential when we’re underground, after we’re in production. We really look forward to updates on that front in 2020, and the reason for that is very simple. It’s just much more efficient to drill out the prospective areas of the underground from the underground; the holes are shorter. It’s just much easier. That’s really where the underground sits right now, in a holding pattern as far as expansion potential. When you look at the open pit, that’s where a lot of great energy is going into expanding the open pit, understanding the open pit better, really getting that ore body knowledge to allow you to build a world-class operation. That is part of the PFS, which is coming out in April of this year.

That PFS will include the drilling campaign that we completed in 2018, the 26 hole drilling campaign. It will include those results in the resource model. That’s going to give you an even better idea of the full potential of the open pit. The real excitement that we have is with regards to the region itself, a large region, relatively unexplored, but with large amounts of historical copper production, as well as great physical outcroppings of copper mineralization. This is really where we’re going to focus our efforts during 2019, to really get a chance, now that we’ve tied up this land package, to understand what we have.
Maurice Jackson: Speaking of the region, there was a regional survey conducted that led you to staking more land. Can you share the results with us?

Matt Gili: We staked a section a land that we refer to as the Teddy Boy Claims. This is about 5,700 acres of land to our northeast. We are very glad to have this in our portfolio. The criteria for that selection was we brought together experts on this region and experts in copper mineralization. They identified that as a really prospective area and where we should be really focused on. We’ve staked that land, secured it for our ability to explore over the next several years.
Maurice Jackson: Does Nevada Copper plan to drill the new area at some point this year?
Matt Gili: We plan on drilling this year. I really haven’t put out the entire drill program for 2019. We’re still pulling that together and analyzing where to best spend the monies we have available for exploration. We would like to drill that this year. Some more prospective holes, really not an in-depth blanket campaign, but probe a few really interesting areas over there and get a better idea for the drill campaign.
Maurice Jackson: It’s one thing to have tonnage and grade, but you must equally have astute business acumen to make the numbers work. Now, Nevada Copper is in discussions regarding an ECA-backed project finance facility to further optimize the balance sheet, as well as lining up a working capital facility and further offtake agreements to improve the economics of Pumpkin Hollow. Please provide us with the details.
Matt Gili: You kind of said it all. I can’t really provide you with any more details, but I can surely stress what you’ve just said, Maurice. We are in discussions with this export, credit agency style backed project financing. This is going to provide us the opportunity to substantially reduce the cost of our debt service, as well as attract strong and robust financial partners for potential future open-pit developments. Something we’re very excited about and it’s part of really creating Nevada Copper as a world-class company.
Maurice Jackson: Let’s get into some numbers. Please share your capital structure.

Matt Gili: The capital structure is well defined. We have $8 million in long-term debt. We have $153 million of cash or cash equivalents. When you look at the financing package specifically for the underground, we’re fully financed, including the working capital facility to take us through operation ramp up. The inputs into that are an equity raise that we did in the middle of last year, as well as a streaming deposit with regards to a stream arrangement on the precious metals strictly from the underground deposit. We also have a $25-million subordinated debt package. Really a standby loan facility that we can use if necessary.
Maurice Jackson: In closing, I have a multilayered question. What is the next unanswered question for Nevada Copper? When can we expect a response? What determines success?
Matt Gili: I would not classify our successful completion of underground construction and bringing them in operation as an unanswered question. That is going to happen, and I’m very proud of the activities that have happened so far. The real unanswered question for the investors out there, is what is the true potential of the open pit? There’s been a lot of great work done, a lot of exploration done, last year. That’s all been incorporated. I’m really going to be excited when the PFS is released and we can share the details of the open pit potential with the public. They are going to be very impressed and they’re going to see the picture. They’re going to see what we see when we get so excited about Nevada Copper.
Maurice Jackson: Speaking of the prefeasibility study, give us a timeline on that, sir.
Matt Gili: We’ll release that in April. I’m being careful. I don’t want to be too specific. It will be in April of this year. Next month.
Maurice Jackson: Mr. Gili, last question. What did I forget to ask?
Matt Gili: Maurice, forget to ask? You’re always very thorough, so I wouldn’t say you forgot to ask anything. What I would say is I want to reiterate something that we at Nevada Copper have been thinking about over the last month. Unfortunately, for the world, the last month has been a month marred with tragedies, with risk and with unexpected events. What we’re really stressing, with Nevada Copper, is the risk management of Nevada Copper. We are an operation that is on private land. We’re not waiting for any permits. We’re not waiting for records of decision. We’re utilizing EPC contractors, who have that fixed price nature, reduced risks. We’re building a dry stack tailing facility. We’ll never have a wet tailing storage facility at Pumpkin Hollow.  We’re doing this all with a proven, experienced team of mine builders and operators. Really wrapping that up, that concept of low risk, risk mitigation. We are going to build and operate the next mine and there’s very little risk to that execution.
Maurice Jackson: Matt, if investors want to get more information about Nevada Copper, please share the website address.
Matt Gili: Absolutely, www.nevadacopper.com. We love to get your input. You’ll see our investor presentationsthere in our latest news. Let us know what you think.
Maurice Jackson: For our audience, we wish to remind you that Nevada Copper trades on the TSX symbol, NCU, and on the OTC symbol NEVDF. For additional inquiries, please contact Richard Matthews at (877) 648-8266 or you may email RMatthews@nevadacopper.com. Nevada Copper is a sponsor and we are proud shareholders for the virtues conveyed in today’s message.
Last but not least, please visit our website, provenandprobable.com, for mining insights and bullion sales. You may reach us at contact@provenandprobable.com.
Matt Gili of Nevada Copper, thank you for joining us today on Proven and Probable.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.
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Base Metals Energy Exclusive Interviews Junior Mining Project Generators

(VIDEO) FISSION 3.0 Prospect Generator in Position for Uranium Turnaround

Ross McElroy the COO and Chief Geologist for Fission 3.0 (TSX.V: FUU | OTCQB: FISOF) sits down with Maurice Jackson of Proven and Probable to discuss the value proposition of Fission 3.0 and their Property Bank. In this interview Mr. McElroy provides the macro economics for uranium and how one may allocate their uranium holdings in a Uranium Project Generator with a Property Bank with projects located in high-grade uranium districts, with proven management and technical team that has a 20 year history of delivering success to shareholders.

VIDEO

AUDIO

TRANSCRIPT


Original Source: https://www.streetwisereports.com/article/2019/03/16/prospect-generator-in-position-for-uranium-turnaround.html
Maurice Jackson: Joining us for a conversation is Ross McElroy, the COO and chief geologist for Fission 3.0 Corp. (FUU:TSX.V; FISOF:OTC.MKTS): A Uranium Project Generator and Property Bank. Ross McElroy, glad to have you back on the program to share the value proposition of Fission 3.0. Before we begin, Ross, I’d like to begin with some basic fundamentals regarding uranium. For someone new to the uranium sector, what is uranium, and where is it used?
Ross McElroy: Uranium is really all about energy. The way we use uranium is for nuclear fuel. That’s basically the fuel that runs reactors.
Globally nuclear power constitutes between 15% and 20% of the electrical requirements. That’s really where the majority of the uranium is used. There is some uranium that’s used for strategic purposes on a country by country basis, more for the Department of Defense reasons. But really, the vast, vast majority of uranium is used to fuel nuclear reactors.
Maurice Jackson: Provide us with some metrics on how abundant uranium is in the Earth’s crust, and correlate that to the average grade that is found versus the grade that is needed to define an ore deposit in a future mine?
Ross McElroy: Well, uranium is actually one of the most abundant elements in the Earth. It’s kind of ubiquitous. You’ll see it throughout the Earth’s crust; there is trace amounts of uranium present primarily in volcanic and igneous rocks and sedimentary rocks.
On a deposit level, there’s actually a number of uranium deposits around the world, in every continent on the planet and in many countries. On a global basis, the average grade of a uranium deposit worldwide is around 0.1 to 0.15% U308.
Now, if you compare that to say, the deposits in Canada, they’re orders of magnitude higher grade in Canada. We’re talking orders of magnitude that are 10 to 20 times that of the global grade.
Although I’ve given you the average grade, most of those deposits at those lower grades, the average grades are really uneconomic deposits. We need grades that are generally much higher than the 0.1%–0.15% if it’s going to be an economic deposit. And that’s what Canada has. Canada has very high-grade deposits, so the economic metrics are just that much more attractive in Canada.
Maurice Jackson: Now that we’ve identified uranium’s utility, what can you share with us from a supply and demand perspective?

Ross McElroy: Well, it’s fairly simple to understand what the demand for nuclear energy is, in other words, uranium. We can just multiply the number of reactors around the world that are currently operating, and the known fuel consumption rate for a 1000 megawatt reactor is just under 500,000 pounds of uranium a year. If we look at the global reactors, there are around 450 reactors around the world. You can see that the need for uranium on an annual basis is around the realm of almost 200 million pounds of uranium.
Maurice Jackson: How does the nuclear plant in Fukushima, Japan, fit into this narrative?
Ross McElroy: Japan historically, up until the Fukushima event in 2011, was one of the main users on a country basis worldwide. Japan I think consumed almost 20% of the world’s nuclear power, in other words, 20% of the world’s annual production of uranium was used to run the Japanese reactors.
In 2011, of course, we had the magnitude 9 earthquake followed by a tsunami, and that’s what damaged the Fukushima facility. Interestingly enough, even with that magnitude of an earthquake and the soon-to-follow tsunami, the reactor still did not breach. The housing that surrounded the reactor was damaged, and this is where some of the radiation leaks came from, but the reactor itself actually held, and so the damage was actually very, very limited and manageable.
What happened is overnight, Japan shut down all of its nuclear reactors, in other words, all 52 reactors I think they had working at that time, went offline. That caused disruption to the supply/demand situation globally.
What’s happened since then is Japan is slowly coming back on. Japan’s alternatives for power are pretty limited as the country doesn’t have very much of its own resources, if any at all. It imports whatever energy that it needs, be it in natural gas now, in nuclear.
It’s important for Japan to be able to operate these factories that they’re running. I mean, it’s an exporting country around the world, so it does have high energy requirements. It also has the requirements for inexpensive power.
Japan is coming back on to the scene as far as nuclear power. There are eight reactors that are currently back up and operating, and 17 reactors that are in the near-term licensing for approval to get them restarted again.
I think the bottom line is, prior to Fukushima, Japan depended on nuclear energy for at least 25% of its electricity demands. I think by the time 2030 approaches, Japan is supposed to be right back up to those same levels. The country is coming back on, it has always been an important major consumer of nuclear power. I think we’ll see it right back to the equation again in the very near future.
Maurice Jackson: Uranium, next to gold, is known as the other yellow metal, and here’s why. Ross, let’s step back to the bull market in uranium. If one was selective with the uranium holdings, they would’ve had generational changes in their portfolio. What was the spot price during the last bull market?

Ross McElroy: Well, in 2002, uranium was around, I don’t know, about $15 a pound. This is on the spot market. That’s what uranium was trading for.
In 2003–2004, we really saw the lift off of the price of uranium. In fact, it peaked at 2007 to around $140 a pound. It went almost a 10-fold increase in the price of the commodity between 2003 and 2007. The peak at 140 didn’t last particularly long, but it had a slower decline until about 2008—2009, it stabilized, and then it peaked back up again.
Really, it was holding steady. I guess this is the point I would want to make, is that we were starting to see a steady state price of between $50 to $70 a pound, and then the Fukushima event hit that we talked about in 2011, and that really threw the whole pricing structure right out the window. We’ve been working on our recovery ever since.
Maurice Jackson: What is the spot price for uranium today?
Ross McElroy: Currently we’re about $28 a pound for uranium. It has recovered; we’re off the bottoms of $17, $18 a pound just a couple of years ago. Uranium is making its way back.
Maybe the important point here to note is we’re still at prices that the majority of mines around the world are not profitable. Even the lowest cost producers are really not operating in an environment where they can make money with uranium prices what they’re at right now.
What we’ve seen is that the supply is starting to be restricted as the producers are taking a lot of that uranium off market; they’re not supplying it to the utilities at this cheap price, because it’s not a working business model to lose money in the long run on the mining of the commodity.
We are seeing an improvement in the price of uranium, and it’s been about a year and a half in the making. It’s gone up from the $18 that I mentioned to about $28 a pound, but it certainly has a lot more room to move upwards even before we can start to get production back online to meaningful levels.
Maurice Jackson: What is that spot price that companies right now, uranium companies I should say, for them to earn their cost of capital? Is the number around $60 for a spot price of uranium?

Ross McElroy: I believe you are correct. We’re seeing prices that globally, they have to be in the $60 to $70 a pound really to bring on any meaningful production.
One of the clues that I look at when we look at the best uranium mines out there, the lowest cost producers, those would be McArthur River deposit in Canada’s Athabasca Basin in Northern Saskatchewan. That is one of the best uranium mines in the world, certainly the largest highest-grade operating mine. Cameco took that offline because of the prices of uranium where they were at, they weren’t making any money on the mining of this deposit.
There are some indications that Cameco won’t turn that mine back on into being a producer until the price of uranium is somewhat north of $40, maybe $45. Something in that realm.
I don’t have an exact number there, but it does tell you that if you’re going to even bring back the best of those deposits, you really need prices that are something of $40 to $45. As we mentioned earlier, the price for many of the other deposits around the world are probably closer to $60 or $70. You can see, there’s still lots of room for improvement.
Maurice Jackson: The current price of uranium does not support the fundamentals. What correlations do you see today that may exceed the returns from the last bull market?
Ross McElroy: Well, it’s sort of an elastic situation. I think that the longer that we keep depressed prices, yet the demand is still there and growing, reactors are being built, the need to fuel these reactors, that’s not stopping.
In fact, it’s growing. You have the primary suppliers of uranium, i.e., the mines that are not supplying it, the longer that the prices are low, the more rapid that climb will be in the price of uranium when it does correct.
I think there’s a possibility, as I’ve heard some analysts call it, a violent reaction upwards to the price of uranium. I think we’re going to see some substantial price increases within some short vision of time, maybe a year or two or three. Something in that realm that I think will be quite meaningful.
We’ll see what happens, but the longer it stays depressed, the more likely and quicker the rise will be when it does come.
Maurice Jackson: Ross, you’ve provided a compelling case on the fundamentals for uranium. I know readers may be asking, how will all of this demand for uranium be met? Mr. McElroy, please introduce us to Fission 3.0.
Ross McElroy: Fission 3.0 is a uranium explorer. This is a company that we spun out of Fission Uranium Corp. (FCU:TSX; FCUUF:OTCQX; 2FU:FSE), our larger company, back in 2014 when we bought out our partner on the Patterson Lake project, and in so doing with that process from that arrangement, we spun out our non-core assets, the more grassroots exploration projects.
We’ve been able to build up an exploration portfolio, primarily focused in the Athabasca Basin. Remember, the Athabasca Basin is Canada’s only producing uranium field. That’s where the McArthur River deposit is, this is where Fission Uranium has the Triple R deposit. There’s some fantastic deposits out there.
That’s what we’re exploring for in Fission 3.0. We’re looking for the next high-grade uranium deposit in the Athabasca Basin.
Maurice Jackson: You referenced that you’re a project generator. There’s a lot of ambiguity regarding project generators. Please share the virtues and why Fission 3.0 took on the project generator business model?
Ross McElroy: Project generators are really all about sharing the risk. In our case, what we do very well is pick ground. We’ve been able to strategically stake ground in the Athabasca Basin, we’ve made discoveries on two of our properties, the first one in the company called Fission Energy that we made the discovery at our Waterbury Lake property, and later on in Fission Uranium Corp on our PLS property.
That have been situations where we’ve had joint-venture partners sharing the risks, sharing the costs with others. To use the model, what we do is we use our brands and other peoples’ money. That’s really what we’re good at, that’s basically the model that we have.
We have a very highly trained technical team that’s exceptional at picking out high-quality projects. We attract other people who are looking to get into the uranium business, looking to partner up with a team such as ours and join us for the ride to make a discovery.
It’s really all about sharing risk. That’s really what the project generator model does. It’s our land, and we partner with good quality people that can fund a project, and that’s how they earn into it as well.
Maurice Jackson: Do you currently have a joint-venture partner? If yes, who and what are the terms of the relationship?
Ross McElroy: We have had joint-venture partners in the past, and very successful ones. As I mentioned earlier on our Waterbury project, we had a partner with the Korean utility called KEPCO. It earned in by spending a certain amount of money on the property each year over the course of a three-year period.
What we did with that, we were able to make a discovery, using the money in that project, we made a discovery, built up the resource estimate on there, and eventually sold that asset. That was how our shareholders were able to take advantage of our monetizing on the property.
I guess we could say the same at the PLS project, which we now own 100% of it, but that was also a partnership. We shared in the risk early on and in the money early on with our partner. We eventually bought them out in 2014. That was another example of a successful joint venture partnership.
Each one of the deals would be a little bit different from each other. It is a model that we think works very well. I will note that in our property down in Peru as well, we have a partnership that we’re still looking to finalize the deal. This is one where another group has approached us, said it’s interested in the potential of a property down in Peru. It will spend a significant amount of money having us as the operator. Hopefully we’ll make a discovery down in Peru as well.
Maurice Jackson: Well, you’ve just alluded to my next question. Fission 3.0 has 18 projects in its project bank. Now, it is strategically located in premier, high-grade uranium districts in Canada and Peru. Mr. McElroy, introduce us to the Fission 3.0 Project Bank (click here).

Ross McElroy: We have 18 properties in the Athabasca Basin. Our properties, we think that everywhere in the Athabasca Basin has the potential to host high-grade uranium projects.
One of the keys that we seek to identify are deposits that will be shallow. In other words, the closer a deposit is to surface, the easier it is to build a case that this could be a project that could go into production. It’s an easier mine to develop the closer it is to the surface.

Really deep deposits are challenging. They still exist, but they’re challenging. Eventually they cost more money to find and cost more money to get out of the ground. They’re just another level of challenge.
If you look at our 18 properties, they’re all in and around the edge of the Athabasca Basin, where we’ve had a great deal of success finding near-surface mineralization.
Our PLS project that hosts the Triple R deposit in Fission Uranium is a great example of a near-surface deposit. The mineralization starts at 50 meters below the surface, so 150 feet below the present-day surface is where the high-grade mineralization starts. That makes it a potentially open-pit deposit, which is generally low cost and gives you a lot of flexibility.
This is the sort of thing that we’re looking for in Fission 3.0. We’ve got very good properties that are in known mining districts, conversely, we have a good portfolio of ground around the southwest side of the basin where our PLS project in Fission Uranium is hosted, and also NexGen’s Arrow deposit, it’s all in that same area. We have the significant land package that surrounds that area.

We also have a good strategic land package in and around the Key Lake area on the southeast side of the basin. This has been, and still currently is the hot bed of uranium mining in Canada right now. This is the side of the basin where the McArthur River and Cigar Lake deposits are located.

McArthur shut down for economic reasons waiting for higher uranium prices. It was an operating mine up until about a year ago, and Cigar still is in operation. You’ve also got the Key Lake mine.
It’s a strategic area to have a good land package. We think there’s lots of opportunities in and around land in that area to make a new discovery.

And probably third for us is the land package that’s up in the northwest side of the basin, in the old uranium city Beaverlodge district where uranium mining in Saskatchewan first got started back in the 1950s and was the going concern back in the ’50s and the ’60s, I think there were about 52 operating mines up in that area, pretty small scale most of them, but still lots of high-grade uranium. That’s an area where we think that there’s still plenty of exploration potential.
Between all those areas, we’re going to be active and we’re going to be looking for the next high-grade uranium deposit in Saskatchewan.
Maurice Jackson: Speaking of being active, is there active drilling going on right now in these projects?
Ross McElroy: There is active drilling. We did drill in the southwest side of the basin. We were drilling in January on our PLN project. That project is just immediately north of Fission Uranium’s PLS project.
You’re really talking about the same area where the latest discoveries have been found, where you’ve got the Triple R deposit, you’ve got NexGen’s Arrow deposit. These are two of the best new deposits that have been found in the Athabasca Basin in the last 15 years.
We have a package around there called PLN, and we did drill six holes in there earlier this year. It has the potential to host another one of these fantastic deposits, so we are going to continue looking there. We see all the signs present that tell us that this is where we’ll make that discovery.
As we’re speaking right now, we’re drilling over in the Key Lake area that I described earlier. This is over on the southeast side of the basin, about 200 kilometers to the east of the PLS drilling. That is a program where we’ll drill probably eight or nine holes, just south of the Key Lake Mill and the old historical Key Lake deposits. There’s areas of activity there. We’ll continue drilling throughout the rest of 2019 on a number of our projects.
Fission 3.0 is active. We were able to raise some significant money early in the year, in late 2018. We’re going to be active. This is how we’ve been successful in the past, is by being aggressive, looking in places where people probably haven’t looked for a while or never even thought to look, and putting our technical team to work. Yes, you’ll see pretty good news flow out of Fission 3 this year.
Maurice Jackson: Ross, let’s expand the narrative on the project bank portfolio and go south into Peru. What can you share with us there?

Ross McElroy: Peru is a really interesting area. Where our projects are is called the Macusani Plateau, located in southern Peru, near the Bolivian border. The Macusani Plateau has shown at least over 100 million pounds in near-surface uranium deposits.

There’s a company down there that’s quite dominant called Plateau Energy. Plateau has been able to stake a lot and consolidate a land package in the area, and consolidated all these old deposits. It has amassed around 100 million pounds of uranium in these uranium deposits.

However, even more significant, Plateau made a discovery of high-grade lithium in the same area, and in fact, that’s within five kilometers of our southern property boundary on our Macusani plains. Not only do we have the potential now to host near-surface uranium deposits, and we have shown in fact that we do have mineralization on our property for uranium, we’ve mapped it, we’ve drilled, we’ve trenched and found high-grade uranium, but now the potential’s there for hosting high-grade lithium.
This is really a new dimension that we have down in that area, that we wouldn’t have had say, two or three years ago when we were last down drilling. You’ve got uranium, and now we have lithium. It’s a very interesting up-and-coming area as well.
Maurice Jackson: Switching gears, Fission 3.0 has the right projects in the right place at the right time. But that’s only part of the story. Equally important are the people that are responsible for increasing shareholder value. Mr. McElroy, please introduce us to your board of directors.
Ross McElroy: Thank you, and I appreciate that. We do have a very successful team. Our founder of Fission 3.0 is also the same CEO and founder of Fission Uranium, and previously Fission Energy before that, and Strathmore.
Dev Randhawa has been involved in this company right from the get-go in its first iteration back in 1996, and also heading up Fission 3.0. Dev is the longest running CEO in the uranium sector.
Myself, I’ve been involved with Dev 12, 13 years now. We’ve had a great successful relationship. We’re able to raise money, raise attention, put that money to work, make discoveries, and basically build shareholder value right from the bottom up.
This is the group that I think, we’ve been able to deliver in the past, and we’re going to be able to deliver shareholder value as we move forward in this much improving uranium sector.
A lot of the same players that we’ve had all the way along, still keep also in the Fission 3 group.
Maurice Jackson: Who is on your management team?

Ross McElroy: The management team is composed of our CEO Dev Randhawa and chairman. I am the chief operating officer, and also the chief geologist. We have maintained the same structure that we have in Fission Uranium, is the same that we have in Fission 3.0. It’s a fairly lean team. Phil Morehouse is president of Fission 3.0. We kept a pretty lean mean machine in Fission 3.
Don’t forget, we’ve had up until just recently in the last six months, it’s been a very quiet company, there hasn’t been a lot of exploration activities in the uranium sector. I think as we start to ramp up, with our level of activity increasing, we’ll start to draw more and more people into roles and developing roles within the company as we begin to be active, get out and start marketing the story more, get on the ground and back that up with real results, we’re going to continue to build our team.
Maurice Jackson: Before we move on to your impressive technical team, in the natural resource basis, why is it wise to follow proven winners? Ross, you alluded to it earlier, you and CEO Dev Randhawa have a proven pedigree of success. How were shareholders rewarded as far as returns for their loyalty to sticking with your team?
Ross McElroy: Well, if you owned the original company at the beginning, which would’ve been Strathmore Minerals, and you’d held on it to all the way throughout, over the last 20 years since about 1996, 97, you’d probably own about five different companies right now.
What’s happened is we’ve moved on to a new phase, we’ve made discoveries, advanced projects, sold different projects to different groups. What we’ve been able to do is form new companies, split off new companies in what they call a butterfly transaction.
You have shares in the new company, still maintain your shares in the old company, so you would’ve received essentially what would look like dividends in the way of different shares for five different companies since that time. The shareholders that have been loyal and sticking with us would’ve succeeded quite handsomely all the way along.
Maurice Jackson: Your technical team is exceptional. I had an opportunity to meet them in the summer of 2016 at the site visit there. Please, introduce us to them.
Ross McElroy: We’re very, very proud of this group. This has been the team we’ve had, the same core group of people with us since 2010. With that same group, we were able to make our discovery on the Waterbury Lake project, and then followed up in 2012 with the discovery of PLS. It’s the same group that is very core and important to us in Fission 3.0.
I do head up the team and the technical group, so I would be the team leader or chief geologist for the technical team. My right hand guy is Raymond Ashley, he’s the VP of exploration. Ray is an excellent geoscientist who I’ve had the pleasure to work with for over 30 years in this sector, so we’ve been working pretty close together. Definitely a proven mine finder.
We’ve basically held the same group of people together on the project managers, all the structural scientists, geochemists. We’ve kept the same core group together over the last almost 10 years or so.
To me, that’s really the key. You want a team that works together well, good chemistry with each other, the ability and the environment to think outside of the box. Really, the goal for each and every one of us is to responsibly make world-class discoveries. That’s what we’re all about.
We’ve got an excellent team. All the key people are listed on the website. You’ll be able to go there and see the roles of the various groups there in the technical team, but there’s about seven or eight of us that have been able to be what I consider the core team for the last decade or so.
Maurice Jackson: Let’s get into some numbers. Please share your capital structure.

Ross McElroy: In Fission 3.0, we have 142 million shares outstanding. We were able to raise a significant amount. We have just under $7 million in the treasury right now, that’ll allow us to be active over the next two years or so.
Maurice Jackson: What is your burn rate?
Ross McElroy: The burn rate, because it’s exploration, it’s pretty discretionary spending. We have $7 million that we have in the treasury right now, that’ll certainly carry us over the next two to three years of pretty aggressive exploration spending on our key projects. We can dial that kind of number up, and we can dial it back as conditions warrant. That’s the benefit of being in exploration.
The burn rate is actually pretty minimal. In other words, we run a pretty lean shop as far as the number of management and corporate costs. Really, the majority of the costs are exploration spending, which is really entirely discretionary.
Maurice Jackson: How much debt do you have?
Ross McElroy: We have no debt. We’ve not taken on any debt. Basically, the money that we raise have been through equity share offerings. No debt in Fission 3.0.
Maurice Jackson: Who are your major shareholders? What is their level of commitment?
Ross McElroy: When we spun off Fission 3.0 back in December of 2014, it was the same shareholders that were shareholders of Fission Uranium, were the same shareholders in Fission 3.0. We would’ve had a lot of the same loyal, large shareholders, including JP Morgan, even investment from others that we’ve had along the way. It’s been the same loyal group.
We have significant new shareholders now with the financing that we did back in 2018, which was led by the Sprott Global Resources Group out of California. I think we have some new players back to the game, but we have a lot of shareholders that have been with us over the long haul.
These are people that have a good vision of the uranium sector. They know that the good times are around the corner. It’s a point that we believe really strongly, and we think that the sector is improving a great deal.
This is how our loyal shareholders are going to be rewarded, by being a much better market with an aggressive team like Fission 3.0, and the new shareholders will probably be long term loyal shareholders too if we’re successful and able to build value for them as well.
Maurice Jackson: What is the float?
Ross McElroy: Fully diluted, we have 227 million shares. We’ve got shares outstanding, we’ve got options and warrants that we’re a part of financing as well, so 227 million shares out in total. We trade around 240,000 shares a day, I think that’s our average volume.
Maurice Jackson: Multi-layered question. What is the next unanswered question for Fission 3.0? When can we expect a response? What determines success?
Ross McElroy: Well, we are going to be successful through work. We know that a better market should buoy the price up of everybody involved in the nuclear sector. They’re starting to get some life back in the exploration world.
Really, we’ve always built value by our success. We’ve been successful with making discoveries. We now have the money, we have the team, we’re putting them to work. I would look to us as being one of the most dynamic uranium explorers out there. That’s something that I think people can follow, they can see our news release cycle, they’ll see how we’re marketing our story, and just look at the results. I think they’ll speak for themselves.
We’re looking at our projects, we’ll be active throughout the calendar year. I think the news flow will be very strong and steady. People that are interested in following the company will always see that there’s a continuing narrative out there. We want to take advantage of this and improve the uranium market, the fact that we are well financed, and we have the properties that we want to explore. I think there’s a very good opportunity for readers to look at Fission 3.0 as a sector leader in the uranium exploration business.
Maurice Jackson: Mr. McElroy, last question. What did I forget to ask?
Ross McElroy: I think we’ve covered a lot of ground here, and a lot of important ground. One of the takeaways that I want readers to know is we really do believe in the nuclear sector. We think that we have turned the corner and that conditions are improving.
If people are looking to invest in the uranium sector, I think it’s important for them to look at a group that has done it before. Your track record is very indicative of what your future has the potential to look like. I always find myself, when I’m investing, I like to back teams with a proven track record.
We have that in our group. We’ve got an exceptional management team. We’ve done it before. We’ve been able to capitalize on our discoveries by selling assets. We have a unique technical team that has the ability to make discoveries.
So better sector, very good team. Strong management. Those are the ingredients we need to be successful.
Maurice Jackson: Ross, for someone listening that wants to get more information about Fission 3.0, please share the website address.
Ross McElroy: Our website address is www.fission3corp.com.
Maurice Jackson: For direct queries email ir@fission3corp.com, or you may call (778) 484-8030. Fission 3.0 trades on the TSX:V, symbol FUU, and on the OTC, symbol FISOF.
For audience, we’ve been proud shareholders of Fission 3.0 since 2014. Last but not least, please visit our website, provenandprobable.com, for mining insights and bullion sales. You may reach us at contact@provenandprobable.com.
Ross McElroy of Fission 3.0, thank you for joining us today on Proven and Probable.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.
Disclosure: 
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Fission 3.0. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. Proven and Probable disclosures are listed below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click herefor important disclosures about sponsor fees.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
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Junior Mining Precious Metals

ROVER METALS | Firm Advancing Gold Exploration in the Northwest Territories

 

Judson Culter the CEO and Director of Rover Metals (TSX.V: ROVR | OTCQB: ROVMF) sits down with Maurice Jackson of Proven and Probable to discuss the value proposition of the Cabin Lake Property. In this interview Mr. Culter will provide important updates on the Uptown Gold Property, Cabin Lake Project, and Slemon Lake. Rover Metals is a natural resource exploration company specialized in Canadian precious metal resources (specifically gold). In this interview we will discuss the recent accomplishments of Rover Metals. Ranging from IPO and the implementation of a methodical process of building an exploration company that is positioning itself for success from land acquisitions, permit approval, OTC listing, option agreements and completed the first phase of the 2018 exploration program.

VIDEO

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TRANSCRIPT

Original Source: https://www.streetwisereports.com/article/2019/03/10/firm-advancing-gold-exploration-in-the-northwest-territories.html

Firm Advancing Gold Exploration in the Northwest Territories Contributed Opinion

Source: Maurice Jackson for Streetwise Reports  (3/10/19)

Maurice Jackson

Judson Culter, CEO of Rover Metals, speaks with Maurice Jackson of Proven and Probable about historical exploration on his company’s properties, as well as current exploration plans.

Gold exploration
Maurice Jackson: Welcome to Proven and Probable. I’m your host, Maurice Jackson, and joining us for our conversation is Judson Culter, the CEO and director of Rover Metals Corp. (ROVR:TSX.V; ROVMF:OTCQB). Mr. Culter, welcome to the show.
Judson Culter: Thanks for having me, Maurice.
Maurice Jackson: Glad to have you back on the program. We last spoke in January of 2018, and since then Rover Metals has completed its IPO and implemented a methodical process of building an exploration company that is positioning itself for success from land acquisitions, permit approval, OTC listing, option agreements and completed the first phase of the 2018 exploration program. But before we begin, Mr. Culter, for first time listeners, who is Rover Metals?
Judson Culter: Rover Metals, we are a precious metal exploration company, specifically gold is our focus currently. We’re co-listed in the United States OTCQB: ROVMF, as well as Canada on the TSX.V ROVR. Our project portfolio is concentrated in and around Yellowknife’s Northwest Territories, one of the most mining friendly jurisdictions in Canada and for North America for that matter. I say that just because that’s where our (Canada’s) diamond mines are. That’s historically where several of our gold mines have been. It’s really the primary employer in the Northwest Territories. Outside of government, mining is it.
Maurice Jackson: Why has Rover Metals received so much interest here of lately?
Judson Culter: I think that’s a two pronged answer. First is just credibility. Going back to 2017 on call with you, Maurice, if one listens to that interview, we talked about how we were going to go public, and how we were going to drill our resources, and how we were going to look to add new resources in the similar area code of Yellowknife.
We’ve successfully accomplished all those tasks. I believe we have strong foundational base in our existing shareholders. We’ve got a lot of credibility with them. We get a lot of word of mouth. I think that goes a long way in a market that can be a little bit over saturated in the junior mining space with which projects or which management teams do you back. I think really that we’ve gotten recognition for that now, which is really helping to drive our current success.

The second prong answer speaks to the projects themselves. Rover has the Cabin Lake Project, which is really what the market is asking for, and that’s why we bought it. When we receive the results from our drilling, we believe we will a high-grade gold historical resource that will contain super high grades that the market wants to see as confirmation that this really could be the next gold mine in the Yellowknife, Northwest Territories.

Not to mention this project itself has all the merits a speculator wants. We have solid infrastructure, the Blue Fish Hydro Dam, roads, all the accessibility and proven area of past producers. The market is beginning to recognize the credibility of the management team and the assets. Also, the awareness that we are near drilling in the not-too-distant future has investors’ attention as well.
Maurice Jackson: Justin, what is the driving thesis for Rover Metals in regards to the Kevin Lake gold project?
Judson Culter: The driving thesis has not changed. It’s the same thesis as in the late 1980s. There’s a project called the Lupin Gold Mine that produced from 1983 to 2003 in the north, which is an iron formation, super high-grade gold. The thought at the time was to go and find another one, and that’s what they thought they had here. This is when Cominco and Freeport McMoRan and then Aber Resources, that’s what they thought they had here. They drove 7,500 meters of at or near-surface iron hosted high-grade gold. The only reason they stopped is because somebody found kimberlites a few years after, and the diamond boom in the Territories began.
This project just kind of sat on the back burner as a result of that. Aber Resources, the owner of the time, of course, went on to find the kimberlites. That’s some historical context on this project and why it’s just now coming back to life.
Maurice Jackson: Talk to us about the business acumen here. When and how was Rover Metals able to acquire the Cabin Lake gold project in such a highly contested and sought out district?
Judson Culter: It wasn’t easy; when we looked at the business case, we figured that with a little bit of just rolling up our sleeves, and getting up there, and meeting the right stakeholders, and just recognizing that this is an area that needs new mines and new projects.
I didn’t think it would be like other areas in British Columbia, for example where BC, trying to get First Nation endorsement can be very difficult. There’s so many competing industries that people can really make a way of life in a jurisdiction like British Columbia, whereas knowing a little bit about the Northwest Territories, mining is a big deal up there. People want to see projects succeed.
When we went into the Cabin Lake project, we knew we had to get a couple of things there to get permits. We knew we had to get our neighbors, Tlicho First Nations, on board. We also did our homework and knew that the Tlicho First Nations had previously worked with Fortune Minerals, as well as Nighthawk Gold. When we got to it, there was a framework in place. There was a government that had been formed.
The Tlicho government and the land use formal plan to work within, for application permits, and applications. So, once we got to it, it ended up only being four months to get it permitted. I think it seemed to keep getting easier for us, and it ended up being a decision that looks like it was the right one to make.
Maurice Jackson: Regarding mineral rights in your project portfolio, are there any reversionary interests?
Judson Culter: There’s a 1.5% NSR that we’ve got viable down to a half percentage point for CA$250,000 per quarter percentage.
Maurice Jackson: And does Rover Metals own the mineral rights outright 100%?
Judson Culter: That’s correct. Yes, not just at Cabin Lake, but at the Cabin Lake group of projects. The claims themselves are 10 kilometers apart; so there’s three of them. For the entire group of projects, yes, we have 100% mineral right interest.
Maurice Jackson: Let’s fast forward to 2018 and discuss your exploration program. What were the results from that program and how has that improved the confidence in the gold project?
Judson Culter: It helped us to better track the iron information. So what we did was we spent the six months from March, when we acquired the project, into October, really to digitize all the historical records. At the time in the 1980s, that was meticulously kept, and it was handwritten. We digitize seven banker boxes of data, as well as three map boxes. Then, we put that in a GPS, and tag the colors and everything else.
Then what we wanted to do to follow on with that data was to run a current, modern-day geophysical program. There were a lot of options to us to do it, but in a really economical manner, but also to do it in a very detailed type formation using a drone. Because the mineralization occurs at or near surface, as well as the iron information itself being at or near surface, it really showed up well on the magnetic survey that we flew over the property. So by interlaying the drill results, as well as the mag survey, our geologist was able to get a better interpretation of the iron formation throughout the project. Really, that really set the stage for where we are going to put the drill when we get to drilling this year in 2019.
Beyond just the iron information, what we also realized about the project is the outcropping on either side is quartz. Historically, the quartz had never been tested for mineralization. So we also did a geochemistry program in October. What that showed us is that the PPM and PPB reading of gold from the quartz outcrop area suggest that it’s also very likely to be a host for gold on this project. It’s never been tested historically. That’s the excitement of 2018 and what’s led into the 2019 drill program, which was always trying to be between March and the end of April. We’re still trying to hold on to that deadline.
We’ve got the collars is ready to go. Right now, we believe what we need to do to start drilling is conduct a small financing that we’ll probably release in the coming week or two here.
Maurice Jackson: So to review the value proposition we had before. This is potentially an open-pitable, early-stage brownfield exploration gold project with historical high-grade resource next to a new cobalt-gold mine, is that correct?
Judson Culter: Yes, and that’s one thing I didn’t touch on is the actual historical resource itself. That’s 85,000 ounces unconfirmed in terms of what our current standards allow us to document as a historical resource. What we’re allowed to document in press releases and everything else is 50,000 ounces of roughly 10 to 12 grams gold per ton. The rest of that 35,000 ounces was never signed off by a Qualified Person, but it is in the NORMIN database in the Northwest Territories. It’s in the areas of the Andrew zone, which we’ve documented. Rover will do the work we need to do under 43-101 standards to take that other 35,000 ounces and get it compliant.
From our side internally, we see it as an 85,000 ounce of resource of 12 grams per ton gold on average. When we talk about it publicly, we have to say, 50,000 from a historical resource perspective, but you’re absolutely right that we’re 20 kilometers away from what’s looking to be Canada’s first cobalt mine. The reason I say that is this project’s been 20 years in the making; it’s at the feasibility stage. I believe they’re really just looking to raise the capital to get to work. It’s an open-pitable cobalt mine. The good news is it’s actually a cobalt gold bismuth. So there is a gold processor that’s going to be built 20 kilometers from us. What better news can you possibly have when you’re developing an at-surface resource?
Maurice Jackson: The location in of itself makes the opportunity quite interesting, but to have open pit to me is icing on the cake. Is the goal to sell the project or develop into a commercial scale mine?
Judson Culter: Definitely the goal is to sell it within the next three years, and so I want to put $10 million in the ground, and let’s get this wrapped up and sold. End of story.
Maurice Jackson: What can you share with us regarding the infrastructure?
Judson Culter: So what you see in Yellowknife right now is what’s going to be coming in the pipeline in the next two to three years in the Pine Point Zinc mine is going back into production and that’s Osisko. Part of that is twining the costs in Taltson Hydro Dam and bringing that into Yellowknife itself, as well as Hay River. There’s going to be federal funding allocated, as well as territorial, to do an environmental study that should be announced through fairly short order this year.
After there is a federally funded environmental study to evaluate the twinning of the Taltson Hydro Dam, a successful outcome will lead into a hydro power upgrade to Yellowknife. When Yellowknife is upgraded, that will free up excess hydro power at the Snare and Strutt Lake hydro dams, located approximately 5km away from Camp Lake, one of our claims that’s part of the Cabin Lake group. That power becomes excess power. All of a sudden that frees up for the future the viability of really selling the project because now you’ve got excess power sitting right there, five kilometers away. How good is that?
Maurice Jackson: Switching gears. Rover Metals’ board of directors and advisors consists of the following people:

Maurice Jackson: Bios for the management time are below:

Maurice Jackson: Let’s discuss some numbers. Please share your capital structure.
Judson Culter: We’ve got 47 million shares out today. That’s our issued and outstanding common shares. There are warrants out there. We have 10 million warrants at $0.20 cents, and 10 million warrants at $0.25 cents.
Maurice Jackson: How much cash and cash equivalents do you have?
Judson Culter: Treasury is sitting today around CA$450,000. Then, there’s been some prepayments for upcoming work commitments regarding our exploration plans for this year, as well as I mentioned, we’re doing a lot of our growth in terms of our marketing and our shareholder base in the United States. I think our prepaid balance, if you were to look at that today, should be around CA$200,000, just in terms of for events, as well as I mentioned, exploration planning. If you add that back to our cash position, we’re around CA$650,000 in current assets.
Maurice Jackson: What is your burn rate?
Judson Culter: Our burn rate’s about CA$30,000 a month, and that just includes all in. We purposely don’t carry an office in this market. We’re a bootstrap company. We have home offices, and then we’re on the road a lot. We’ve got an exploration office that is free from our exploration partner, Aurora Geosciences. That’s really where a lot of the hard work gets done. Then, there’s just no corporate office. I don’t feel the need for that, so that helps.
Maurice Jackson: How much debt do you have?
Judson Culter: We have some trade payables of, I think it’s roughly CA$40,000 that we’re going to settle in shares. Outside of that, we’ve got CA$25,000 in payables on top of that, that we’re going to pay in cash. That’s just some exploration legacy from last year.
Maurice Jackson: Who is financing the project, and what is their level of commitment?
Judson Culter: Just sophisticated mining investors. It’s been high net worth, accredited investors to this point. That will continue until we become a $10 million market cap company plus, because we’re just still not able to access institutional funds, and that’s fine. If Rover does everything that we hope to accomplish in the next drilling phase, which we hope is in the next 60 to 90 day window here, we should be a $10 million market cap plus company; and well on our way to institutional money.
Maurice Jackson: Who are the major shareholders?
Judson Culter: I’m a major shareholder. I’ve been seeding Rover not just with time, but my own money; since really inception in 2014. Tookie Angus, who is an advisor, is currently our third largest shareholder. Then, it really starts to break down to smaller tranches, but there is a notable name on the list: Ashwath Mehra, the chairman of GT Gold; he’s a relatively large shareholder.
Management, including Ron Woo. Ron’s also seeded this company. I think Ron’s probably fourth largest shareholder. Keith Minty’s a large shareholder; 38% of our outstanding shares are owned by insiders, management, board. That’s a good thing because that means our shares are tied up for three years.
Maurice Jackson: Judson, based on the data available, what type of value proposition do we have in comparing?
Judson Culter: Well, the market price, let’s just say, I think it should be $8.5 million, just on what we set out today. That’s my personal opinion. I think later value that, that’s just the reality of reserve stocks in North America. We’re going to do what we need to do to take that historical resource and bring it up to current standards, as well as to just extend where they stopped drilling, and just show them this really is a multimillion ounce potential asset.
I think we can get there with the drill program that we’re planning. We’re planning roughly a thousand meter program. I think the value proposition is we’re in a $3.5 million market cap today. I think we’re going to take it to $10 to 15 million in the next six months. Hold me to that.
Maurice Jackson: I certainly will, sir. Multi-layered question here: what is the next unanswered question for Rover Metals? When can we expect the response? How much will the response cost? What determines success?
Judson Culter: That’s going to be our Q1 or Q2 exploration drill campaign. I was going to caveat that, that is subject to the future success of our financing effort (click here), which we hope to announce in roughly two weeks’ time.
That will lead into confirmation of the historical high-grade gold results, such as the open-pit economics, expand upon the known mineralization in the iron formation, as well as to prove up a larger area play and this is more Q2/Q3 work, for the Slemon Lake, and Camp Lake claims, which are located 10 kilometers northwest from Cabin Lake, and we’ll fly that with an aerial B10 survey. What that will show is that the drilling we’ve done at Cabin Lake in the iron formation really just, those other two claims, or districts, an extension of the same geology, which everything that we’ve read historically shows us it is.
Maurice Jackson: Mr. Culter, please share the contact details for Rover Metals.

Judson Culter: Please visit our website www.RoverMetals.com. On there, you’ll find our social media links, which are LinkedIn, Twitter, our Facebook page and CEO.ca.
Our social media channels really have daily content. We’re press releasing every couple of weeks, but a lot of our investors like really the daily updates on what’s going on in the Northwest Territory. That’s the best place to stay tuned.
You can also submit to our mailing list. We typically will do an email update every two weeks as well. If you go to the bottom of the homepage on the website, and just submit your email, that subscribes you to our email mailing list.
Maurice Jackson: And last but not least, please visit our website, provenandprobable.com, for mining insights and bullion sales. You may reach us at contact@provenandprobable.com.
Judson Culter of Rover Metals, thank you for joining us today on Proven and Probable.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

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Disclosure: 
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Rover Metals. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. Proven and Probable disclosures are listed below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click herefor important disclosures about sponsor fees.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
Proven and Probable LLC receives financial compensation from its sponsors. The compensation is used is to fund both sponsor-specific activities and general report activities, website, and general and administrative costs. Sponsor-specific activities may include aggregating content and publishing that content on the Proven and Probable website, creating and maintaining company landing pages, interviewing key management, posting a banner/billboard, and/or issuing press releases. The fees also cover the costs for Proven and Probable to publish sector-specific information on our site, and also to create content by interviewing experts in the sector. Monthly sponsorship fees range from $1,000 to $4,000 per month. Proven and Probable LLC does accept stock for payment of sponsorship fees. Sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734.
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Blog

ROVER METALS Announces Private Placement Financing

VANCOUVER , March 4, 2019 /CNW/ – Rover Metals Corp. (ROVR.V) (ROVMF) (“Rover Metals” or the “Company“) is pleased to announce its intention to complete a non-brokered private placement of units (the “Units“) at a purchase price of $0.08 per Unit, for aggregate gross proceeds of up to CAD$1,250,000 (the “Offering“). Each Unit shall consist of one common share in the capital of the Company (a “Common Share“) and one Common Share purchase warrant (a “Warrant“).  Each Warrant shall entitle the holder to acquire an additional Common Share at a price of $0.15 per share for a period of 24 months following the date of issuance.

Rover Metals anticipates using 80% of the proceeds of the Offering to finance exploration activities at the Cabin Lake Gold Project and remaining use of proceeds for general and administrative expenses.

The Company may pay finder’s fees in accordance with the policies of the TSX Venture Exchange in connection with the Offering.

Rover Metals anticipates relying, in part, on the exemption from the prospectus requirements provided in BC Instrument 45-534 – Exemption From Prospectus Requirement For Certain Trades to Existing Security Holders (the “Existing Shareholder Exemption“).  The Company may also rely on other available prospectus exemptions.

Rover Metals has set March 1, 2019 as the record date for determining shareholders entitled to participate in the Offering in reliance on the Existing Shareholder Exemption. If the Offering is over-subscribed, Units will be allotted on a first come first served basis. Qualifying investors who wish to participate in the Offering should contact the Company using the contact information set forth below. It is anticipated that the Offering will close in one or more tranches commencing on or about March 15, 2019 .

All securities issued under the Offering will be subject to a hold period of four months and a day from the distribution date, in accordance with applicable securities laws.  Completion of the Offering is subject to the receipt of all applicable approvals, including the approval of the TSX Venture Exchange.

About Rover Metals
Rover Metals is a natural resource exploration company specialized in gold that is currently focused on the Northwest Territories of Canada , one of the most mining friendly jurisdictions in North America . The Cabin Lake Group of High Grade Gold Projects are located within 20km of Fortune Minerals’ (FT.TO) planned NICO Project gold processor.

You can follow Rover Metals on its social media channels Twitter: https://twitter.com/rovermetals, LinkedIn: https://www.linkedin.com/company/rover-metals/, Facebook: https://www.facebook.com/RoverMetals/, and CEO.ca: https://ceo.ca/rovr for daily company updates and industry news.

ON BEHALF OF THE BOARD OF DIRECTORS OF ROVER METALS
“Judson Culter”
Chief Executive Officer and Director

Statement Regarding Forward-Looking Information

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. 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” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.  Forward-looking statements in this document include statements regarding Rover’s expectations regarding the issuance of Units and receipt of regulatory approval therefor and the use of proceeds from the Offering. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE.  WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE

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Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Sage Potash Confirms Multiple Water Bearing Zones at Sage Plain Project – Advancing Development Strategy

Vancouver, British Columbia and Salt Lake City, Utah–(Newsfile Corp. – October 13, 2026) – Sage Potash Corp. (TSXV: SAGE) (OTCQB: SGPTF) (“Sage Potash” or the “Company”) is pleased to report positive results from hydrogeological testing completed at the Peterson 1 well at its flagship Sage Plain Potash Project in southeast Utah. Testing confirmed two saline, non-potable water bearing zones within the project area, with preliminary results supporting their potential use as future process water for solution mining operations.

The results represent an important step in advancing Sage’s water strategy, with the identified zones occurring at depths consistent with the Company’s existing water right and providing potential sources of process water that would not compete with potable municipal or agricultural supplies.

HYDROGEOLOGICAL PROGRAM HIGHLIGHTS

  • Two water-bearing zones confirmed at Peterson 1, providing potential sources of process water within the Sage Plain Project area.
  • Non-potable saline water has been confirmed, with water chemistry considered adequate for future processing and solution mining applications.
  • Results align with Sage’s existing water right, which authorizes up to 185,000 cubic meters of brackish groundwater annually for processing and solution mining.
  • An additional high permeability zone was identified in the Honaker Trail Formation, providing another target for future groundwater evaluation.
  • Results will now be incorporated into the Company’s ongoing engineering studies alongside the updated NI 43-101 resource estimate.

As previously announced on June 24, 2026, the Peterson 1 drill program included a hydrogeological assessment designed to conduct targeted Drill Stem Tests (“DSTs”) in formations exhibiting water flow. The DSTs are field screening tools used to evaluate yield rates and water quality, primarily targeting saline, non-potable aquifers, for future solution mining operations.

“Peterson 1 continues to deliver important results for the Sage Plain Project. In addition to the strong potash grades and thicknesses we recently reported, we have now identified multiple potential sources of non-potable process water within the project area,” said Patricio Varas, CEO of Sage Potash. “Water is a critical component of solution mining, and these results provide another important piece of the development picture. Importantly, the water identified is saline and non-petpotable, and the tested horizons align with our existing water right. We view this as another meaningful step in de-risking Sage Plain as we advance the project into its next phase of engineering.”

DRILL STEM TEST PROGRAM

Northstar Drillstem Testers Inc. conducted three inflate-straddle DSTs, each over a 38-meter (125-foot) interval of the 8¾ inch hole, between July 17 and July 19, 2026. The tests were designed to measure formation pressure, estimate permeability and inflow rates, and collect downhole fluid samples for water quality analyses.

Table 1. Summary of Peterson 1 Drill Stem Tests

TestFormationInterval, m (feet)Shut-in Pressures (psig)RecoveryYield
(m3/hr)
DST 1Cutler1,033 – 1,071
(3,390 – 3,515)
1,068 / 1,061663 m (2,175 ft)17.0*
DST 2Lower Cutler/Rico1,250 – 1,288
(4,100 – 4,225)
1,345Negligible–
DST 3Lower Cutler/Rico1,295 – 1,334
(4,250 – 4,375)
1,434 / 1,419610 m (2,000 ft)4.5*
*1 m3 = 264 US gallons

DST 1 – Cutler Formation (1,033 – 1,071 m; 3,390 – 3,515 feet)

DST 1 was completed with three flow periods and two shut-in periods. The test recovered 663 m (2,175 feet) of formation water, approximately 2.8 cubic meters (17.5 barrels), and recorded consistent shut-in pressures of 1,068 pound per square inch gauge (“psig”)and 1,061 psig, indicating a pressurized, water-bearing horizon. Downhole temperature was 41°C (105°F).

DST 2 – Lower Cutler/Rico Formation (1,250 – 1,288 m; 4,100 – 4,225 feet)

DST 2 recorded a shut-in pressure of 1,345 psig but produced negligible inflow during a single 16-minute flow period, indicating a low-permeability interval. The fluid recovered consisted predominantly of drilling fluid. The sample was submitted for laboratory analysis, which confirmed it was not representative of formation water, and it has been excluded from the water chemistry summary.

DST 3 – Lower Cutler/Rico Formation (1,295 – 1,334 m; 4,250 – 4,375 feet)

DST 3 was completed with three flow periods and two shut-in periods. The test recovered 610 m (2,000 feet), approximately 2.5 cubic meters (16 barrels), of formation water and recorded shut-in pressures of 1,434 psig and 1,419 psig, confirming a second, deeper water-bearing horizon.

DSTs are short-duration tests that primarily characterize the formation immediately surrounding the wellbore. Yields estimated from DST data are preliminary and may not be representative of sustained, long-term production rates. Additional testing will be completed to further characterize the anticipated available water volumes.

PRELIMINARY YIELD ESTIMATES

The Company engaged RESPEC LLC (“RESPEC”), which completed the Company’s September 8, 2025 NI 43-101 resource estimate, to review the DST data. RESPEC’s preliminary estimates assume a pumping well with the same length and diameter as each tested interval.

Erik Hemstad, PE, MBA, of RESPEC, commented: “From DST 1, preliminary estimates indicate a water volume yield of 7 m³/h (75 gpm), and from DST 3,- 4.5 m³/h (20 gpm). Moreover, DSTs are excellent for measuring formation pressures. While the results can also be used to estimate hydraulic conductivity, these tests are inherently short in duration and therefore primarily characterize the formation immediately surrounding the borehole.”

WATER CHEMISTRY AND ALIGNMENT WITH WATER PERMIT

Fluid samples from all three DSTs were submitted to ACZ Laboratories, Inc. in Steamboat Springs, Colorado, a NELAC-accredited laboratory, for comprehensive inorganic analysis. Results for DST 1 and DST 3 are summarized in Table 2 (Appendix).

Both samples are sodium-chloride type waters. The DST 1 (Cutler) sample has a calculated dissolved solids content of 32,400 mg/L. The DST 3 (Lower Cutler/Rico) sample has a calculated dissolved solids content of 79,600 mg/L. Both waters are non-potable and unsuitable for agricultural or irrigation or domestic use.

Solution mining recovers potash by dissolving it with injected water or brine. Sodium-chloride concentrations in recovered water samples are well below salt saturation and therefore retain substantial dissolving capacity. The Company therefore considers the quality of these waters adequate for processing and solution mining. Specific process design requirements will be addressed in future engineering studies.

Importantly, these findings validate the Company’s existing water permitting framework. In July 2023, the Utah Division of Water Rights approved the Company’s 20-year Fixed-Time Application (Water Right 09-2684, Application F83735) authorizing the withdrawal of up to 150 acre-feet annually, of brackish water to support processing and solution mining cavern operations. The permit specifically contemplated sourcing brackish water from an underground aquifer at an approximate depth of 1,200 meters (3,950 feet)-a target depth directly validated by the productive horizons confirmed in DST 1 (1,033 – 1,071 m; 3,390 – 3,515 feet) and DST 3 (1,295 – 1,334 m; 4,250 – 4,375 feet).

HONAKER TRAIL FORMATION

While drilling the Peterson 1 hole, the well encountered an anticipated lost-circulation zone in the Honaker Trail Formation. Approximately 12.7 cubic meters (80 barrels) of drilling fluid were lost between 1,408 and 1,445 m (4,620 and 4,740 feet) (1,408 – 1,445 m) despite lost circulation material already present in the mud system. Continued fluid losses of approximately 1.6 cubic meters (10 barrels) per hour persisted to 1,509 m (4,950 feet). In order to protect wellbore integrity, the Company elected not to run a DST or sample this interval.

The Company believes the rapid rate and volume of fluid loss indicates a highly permeable, high-transmissivity horizon capable of supplying significant water volumes, representing a compelling target for future hydrogeological evaluation. Regional studies of the Paradox Basin report that formation-water salinity generally increases with depth toward the Paradox evaporites (Hanshaw and Hill, 1969). Consistent with this regional trend and the increasing salinity observed from DST 1 to DST 3 at Peterson 1, the Company expects Honaker Trail formation fluids to be similarly saline and non-potable.

NEXT STEPS

The hydrogeological results will be incorporated into the Company’s ongoing and future engineering studies.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Greg Vogelsang, P.Geo., P.Eng., the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Vogelsang is Vice President, Project Development for the Company.

About Sage Potash Corp.

Sage Potash Corp. (TSXV: SAGE) (OTCQB: SGPTF) is dedicated to developing its flagship Sage Plain Potash Project, located in the Paradox Basin in Utah. With a large, high-grade resource base, the Company is advancing toward its goal of establishing a secure and sustainable domestic potash production platform in the United States. Sage Potash is committed to food security, environmental stewardship, and creating value for shareholders and stakeholders.

On behalf of the Board of Directors,

J. Patricio Varas, CEO and Director

1 (236) 521-1521

Website: www.sagepotash.com

For media inquiries, please contact:

Marcus van der Made, Investor Relations

IR@sagepotash.com

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.

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this news release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this news release includes, but is not limited to, statements with respect to: estimated potential water yields from the Cutler and Lower Cutler/Rico formations; the adequacy of the formation waters for processing and solution mining; the potential of the Honaker Trail Formation to supply significant volumes of water and the expected salinity of its formation waters; future evaluation of the Honaker Trail Formation; and the incorporation of the hydrogeological results into future engineering studies and the updated resource estimate. 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 the Company’s 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, including, but not limited to, the risk factors set out under the heading “Risk Factors and Uncertainties” in the Company’s Management’s Discussion & Analysis available for review under the Company’s profile at www.sedarplus.ca. Such forward-looking information represents management’s best judgement based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

APPENDIX

Table 2. Peterson 1 Formation Water Chemistry (ACZ Laboratories, Inc.; dissolved; mg/L unless noted)

ParameterDST 1 – Cutler
1,033 – 1,071 m (3,390 – 3,515 ft)¹
DST 3 – Lower Cutler/Rico
1,295 – 1,334 m (4,250 – 4,375 ft)
Sodium (Na)9,52022,200
Calcium (Ca)2,0906,570
Magnesium (Mg)4921,020
Potassium (K)84.5266
Strontium (Sr)60.9523
Barium (Ba)0.20917.3
Iron (Fe)12.325.0
Manganese (Mn)0.4677.49
Lithium (Li)2.965.53
Boron (B)2.441.64
Silica (SiO₂)1620
Chloride (Cl)18,50048,500
Sulfate (SO₄)1,440198
Total Alkalinity (as CaCO₃)154171
Sulfide (as S)<0.75<1.5
Hardness (as CaCO₃)7,24020,600
Calculated Dissolved Solids²~32,400~79,600
Specific Gravity1.031.07
pH (lab, units)7.16.2
Conductivity @ 25°C (µmhos/cm)43,70088,400
Cation-Anion Balance (%)1.51.4

¹ Laboratory sample identified as 1,033 m – 1,070 m (3,390′ – 3,510′); DST 1 test interval was 3,390 – 3,515 feet.

² Sum of measured major and minor constituents; total dissolved solids was not directly measured by the laboratory.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318504

Categories
Base Metals Breaking Junior Mining Precious Metals

First Breach Completes First Autonomous Flight of Proprietary Drone Prototype

Prototype completes its first fully autonomous mission, demonstrating flight from takeoff to landing without manual pilot input.

Company advances porting of the flight stack to PX4 as it continues toward completion of initial prototypes in Q4 2026 and scaled production in Q2 2027.

HAGERSTOWN, MD / ACCESS Newswire / October 13, 2026 / First Breach Inc. (NASDAQ:FBDT) (“First Breach” or the “Company”), an American-made defense technologies company focused on vertically integrated ammunition production and next-generation unmanned aerial systems, today announced that its proprietary drone prototype has completed its first autonomous flight, and provided an update on the development of the platform’s flight software under its strategic agreement with Hellbender, Inc.

POC in flight, with payload

“Untethered flight showed we had a vehicle. Autonomous flight shows we have a system,” said Jeffrey Low, Co-Founder and Chief Executive Officer of First Breach. “The aircraft was given a mission and it executed that mission on its own, from takeoff to landing. This is an important step toward the capabilities we intend to offer defense and government customers. Our focus now is on further testing, expanding mission capabilities, and preparing the platform for American manufacturing.”

During the test, the prototype took off, followed a predetermined route using satellite navigation, returned, and landed without manual control input. The mission was flown on Betaflight, the open-source flight control firmware on which the Company’s flight controller was first brought up, and validated the full autonomy loop of guidance, navigation, and control on the current prototype.

With the autonomy loop closed, the Company is now porting its flight stack to PX4, the open-source autopilot widely used across defense, industrial, and research unmanned systems. PX4’s mission planning, failsafe, and sensor integration framework provides the foundation for the more complex mission profiles and payload behaviors the Company intends to support as the platform moves from prototype to production. The port is in process and runs in parallel with ongoing airframe and electronics iteration.

Prototype specifications

Proof-of-concept build; subject to change ahead of production.

The current prototype is a four-rotor Class 1 platform with an all-up weight of approximately 2.2 kg and a payload capacity of roughly 500 g via a Picatinny rail and electrical interface. It has demonstrated an effective range of 2 km, an endurance of approximately 10 minutes, a cruise speed of 50 km/h, and a maximum speed of 120 km/h. Navigation is GNSS with visual-inertial augmentation, and the control link is 900 MHz MAVLink. The platform uses swappable LiPo batteries and is designed for field assembly in under ten minutes.

The Company continues to target completion of its initial prototypes in the fourth quarter of 2026 and the start of scaled production in the second quarter of 2027, with a targeted production capacity of more than 2,500 drones per week as manufacturing operations expand.

“Three milestones in a matter of weeks, each one building on the last, demonstrate the pace of First Breach’s drone development program,” said Brett Phillips, Chief Revenue Officer of Hellbender. “We are building on that progress by advancing mission capabilities and preparing the platform for volume manufacturing on American soil, without compromise. That is what we are doing.”

About First Breach

First Breach Inc. is an ISO 9001:2015 certified, American-made defense technologies company focused on manufacturing match-grade ammunition components, finished ammunition, and developing next-generation unmanned aerial systems for commercial, law enforcement, and military markets. The Company manufactures its products in-house at its Hagerstown, Maryland facility, where it produces brass cups, casings, projectiles, lead cores, lead wire, and completed ammunition with rigorous quality control standards. First Breach is also advancing its drone strategy through the development of U.S.-made unmanned systems, leveraging advanced engineering, robotics, ISR and sensor technologies, and precision manufacturing capabilities to address evolving defense, homeland security, law enforcement, and commercial requirements across domestic and international markets.

For more information, please visit: First Breach Inc.

About Hellbender

Hellbender, Inc. is a Pittsburgh-based engineering and advanced manufacturing company specializing in physical AI, computer vision, drones, robotics, electronics design, and automated manufacturing. Operating from approximately 90,000 square feet of facilities, the company provides integrated product development capabilities spanning engineering, prototyping, printed circuit board assembly, advanced sensor integration, robotic manufacturing, and production testing. More than 25% of Hellbender’s workforce consists of military veterans, supporting its commitment to American manufacturing and technical innovation.

For more information, please visit: Hellbender

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts and include statements regarding the Company’s expectations, beliefs, plans, objectives, strategies, future events, future performance, business prospects, growth initiatives, acquisitions, market opportunities, capital resources, operational objectives, and other statements that are predictive in nature. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions, although not all forward-looking statements contain these identifying words.

Forward-looking statements are based on management’s current expectations, assumptions, and beliefs regarding future developments and their potential effect on the Company. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements.

Factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in economic, business, market, competitive, regulatory, technological, legal, and geopolitical conditions; the Company’s ability to execute its business strategy; access to capital and financing; customer demand; industry developments; and other risks and uncertainties described from time to time in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as required by applicable law, the Company undertakes no obligation to update, revise, or publicly disclose any revisions to any forward-looking statements to reflect events, circumstances, or changes in expectations occurring after the date of this press release.

Investor Relations
Frank Pogubila
Partner
Integrous Communications
Phone: 951.946.5288
Email: fpogubila@integcom.us
Website: www.firstbreach.com

For additional company updates, follow First Breach on LinkedIn, X, and Facebook.

SOURCE: First Breach

View the original press release on ACCESS Newswire

Categories
Base Metals Junior Mining Precious Metals Project Generators

Gold Holds Its Ground as Real Yields Surge

Key Takeaways

  • Real Yields Spiked, Gold Held Firm: The 10-year TIPS yield jumped 49 basis points (Bps) in September, one of its largest monthly moves in 25 years. Gold’s resilience marked a break from its historically strong inverse relationship with real yields.
  • Higher Yields Worsen the Fiscal Problem: Roughly $10.5 trillion of U.S. federal debt must be refinanced within 12 months at higher rates, raising interest costs, widening deficits and requiring still more issuance.
  • Central Banks Seek Control, Not Just Ownership: Reserve managers increasingly view gold as an independent reserve asset, with some moving holdings from foreign vaults to secure physical access and jurisdictional control.
  • Today’s Headwind May Be Tomorrow’s Catalyst: If restrictive real rates weaken growth and strain government finances, the resulting policy response—accommodation or financial repression—could ultimately support gold.
  • Silver Faces Headwinds, But Retains Industrial Support: Higher real yields and a stronger dollar pressured silver in September, but elevated Shanghai premiums and stronger Chinese factory activity point to resilient industrial demand.

Performance as of September 30, 2026

Indicator9/30/268/31/26ChangeMo % ChgYTD % ChgAnalysis
Gold Bullion1$4,157.41$4,437.38-$279.97-6.31%-3.75%Gold is under pressure from the USD and real yields.
Silver Bullion2$60.43$66.58-$6.15-9.24%-15.68%Despite volatility, silver gained 3.12% in Q3.
NYSE Arca Gold Miners (GDM)32,522.672,836.74(314.07)-11.07%3.27%Gold miners declined in September, despite a strong Q3.
Bloomberg Comdty (BCOM Index)4141.78141.370.420.30%29.26%Highest monthly close since December 2012.
DXY U.S. Dollar Index5101.4599.432.022.03%3.18%DXY rallied to ~2026 YTD highs.
S&P 500 Index67,651.547,686.14(34.60)-0.45%11.77%S&P 500 near highs on extremely poor breadth.
U.S. Treasury 10-YR Yield*5.284.750.5353 BPS111 BPSHighest monthly close since March 2002.
Silver ETFs** (Total Known Holdings ETSITOTL Index Bloomberg)803.95802.851.090.14%-6.77%Third month moving higher.
Gold ETFs** (Total Known Holdings ETFGTOTL Index Bloomberg)100.9398.912.022.04%2.02%Surpassed February 2026 highs.

Source: Bloomberg and Sprott Asset Management LP. Data as of September 30, 2026.
* BPS stands for basis points. **Bloomberg Indices measure ETF holdings; the ETFGTOTL is the Bloomberg Total Known ETF Holdings of Gold Index; the ETSITOTL is the Bloomberg Total Known ETF Holdings of Silver Index.

Gold Market: Cyclical vs. Structural? The Market’s Core Tension

Spot gold fell $279.97 per ounce, or 6.31%, in September to close at $4,157.41. In the third quarter, however, gold gained $149.39, or 3.73%. September was dominated by a rapid rise in real yields and a stronger U.S. dollar. Early in the month, rising short-term yields, together with shifting expectations about likely Federal Reserve (Fed) policy actions, created significant volatility. Following the Fed’s 25 basis point hike on September 16, gold rallied roughly $145 from its intraday low, suggesting that the immediate pressure from rate-hike expectations may have peaked. Attention increasingly shifted toward the long end of the Treasury curve, where rising yields and refinancing costs were worsening the U.S. fiscal outlook.

Figure 1. Gold’s Strong Structural Trends
Gold bullion spot price in US$/oz with 14-day relative strength index

Line chart of the NYSE Arca Gold BUGS Index (HUI) from early 2025 to September 2026, showing the index above its 200-day moving average. A lower RSI indicator is near 38, below the overbought threshold, suggesting weaker momentum after a period of higher prices.

Source: Bloomberg. Data as of 10/2/2026. The 14-day RSI (relative strength index) is a momentum oscillator that measures the speed and change in price movements over 14 days, with values ranging from 0 to 100. Levels above 70 indicate overbought conditions, while levels below 30 indicate oversold conditions. Included for illustrative purposes only. Past performance is no guarantee of future results.

Underlying demand remained firm. ETF and futures flows7 recovered toward their January highs, while central bank demand remained historically strong despite slowing from the exceptional pace seen earlier in the year. Chinese physical demand was also notable: non-monetary gold imports to China reached 997 tonnes year-to-date through July, up 80% year-over-year, while August imports were 142 tonnes, up 46%. The increasingly important market tension is that cyclical forces, led by real yields and the U.S. dollar, remain short-term negative for gold. In contrast, structural forces, including fiscal risk, physical demand and reserve diversification, continue to support the longer-term gold thesis.

Gold in the Age of Fiscal Dominance 

The defining macro development in September was the Treasury bond sell-off, particularly at the long end of the curve. Ten-year real yields, as measured by TIPS,8 approached 3%, rising roughly 49 bps during the month, one of the largest monthly moves in the past 25 years. More broadly, the rise in the 10-year nominal Treasury yield in 2026 has been driven predominantly by real yields, while the break-even inflation yield has moved comparatively little. 

This distinction matters for gold. Higher nominal yields driven by inflation expectations can still support gold if real rates remain contained. Higher real yields are more restrictive because they increase the inflation-adjusted return on government bonds and raise the opportunity cost of holding a zero-yielding asset. As Figure 2 highlights, gold has remained unusually resilient despite the sharp rise in real yields, marking a notable divergence from its historically strong inverse relationship with 10-year TIPS yields (note the inverted right axis).

Figure 2. Gold Is Diverging From Real Yields
Gold bullion spot price in US$/oz (LHS) and U.S. 10-year TIPS bond yield (RHS, inverted scale), monthly

A line graph comparing the XAU BGN currency (gold) and the USGGT10Y index from 2005 to 2029, showing fluctuating trends.

Source: Bloomberg. Data as of 10/5/2026. 

The speed of the move matters as much as the level. Rapidly rising real yields lift discount rates, compress equity valuations and risk premiums, tighten financial conditions and increase the attractiveness of Treasury bonds relative to risk assets. Heavy Treasury supply, large investment-grade issuance associated with the AI capital cycle and reduced demand from less price-sensitive sovereign buyers have added pressure on long-term yields and the term premium. The key question is whether strong growth and earnings can absorb real borrowing costs near 3% or whether the rate shock will eventually restrain consumption, investment and asset prices. 

Gold’s resilience signals that fiscal credibility—not just real yields—is increasingly shaping investor demand.

The short-term effect on gold is negative. Yet gold’s resilience is important. If investors can earn close to 3% after inflation on long-duration Treasuries, then gold faces competition. Its ability to hold up suggests growing demand from investors and reserve managers for assets that respond to risks that traditional real-rate models do not fully capture. These include fiscal sustainability, sanctions exposure, jurisdictional risk and the credibility of sovereign debt as a reserve asset.

Why Rising Yields May Strengthen Gold’s Long-Term Case

The deeper significance of the Treasury selloff is that higher yields do not necessarily resolve the underlying fiscal imbalance. In fact, they can worsen it. Large deficits require greater bond issuance, which forces private investors to bear more duration risk. If investors demand higher yields, Treasury interest expense rises just as existing debt is being refinanced. Larger interest expense then widens future deficits and requires still more issuance. The bond market becomes the transmission mechanism through which fiscal expansion collides with restrictive monetary policy. 

This marks an important shift away from the post-GFC9 world of monetary dominance and toward a world of fiscal dominance. Under monetary dominance, the central bank can raise rates sufficiently to control inflation without destabilizing government finances. Under fiscal dominance, the scale of the debt outstanding and the cost of servicing it increasingly constrain monetary policy. Tightening suppresses private demand, housing and investment while simultaneously raising the government’s interest burden. The policy intended to restrain inflation can therefore aggravate the fiscal problem. 

The growing divergence between U.S. federal debt and monetary liquidity (U.S. M2 money supply10) adds to this pressure. The debt-to-M2 ratio (see Figure 3) has risen from roughly 1.35x in 2022 to around 1.73x, above prior-cycle highs, as government debt creation has outpaced money-supply growth. Since the Fed is being restrictive rather than accommodating the fiscal expansion, the adjustment is increasingly being forced through higher bond yields, rising term premiums and tighter private-sector financial conditions. Ultimately, the widening gap between debt and monetary liquidity strengthens the case for some combination of fiscal consolidation, monetary accommodation or financial repression,11 with the latter outcomes particularly supportive for gold.

Figure 3. U.S. Debt Grows Faster Than Money Supply
Gold bullion spot price in US$/oz (LHS) and U.S. government debt to U.S. M2 ratio (RHS), monthly

Line chart comparing gold bullion prices and the debt-to-M2 ratio from 2000 to 2026. Both trend higher over the period, with gold reaching record highs as the debt-to-M2 ratio rises to approximately 1.73.

Source: Bloomberg. Data as of 10/5/2026. 

The U.S. Treasury’s refinancing cycle makes the tension increasingly visible. Federal debt totals approximately $40.2 trillion, on which annualized gross interest expense is about $1.36 trillion—a realized average interest rate of just 3.38% across all outstanding debt (see Figure 4). Market rates are now well above that level. As of September 30, Treasury bills were yielding 4.02%, two-year Treasuries 4.89% and 10-year Treasuries 5.28%. As maturing debt rolls over, those higher rates will progressively be reflected in the government’s effective borrowing cost. 

Figure 4. The Rising Cost of Borrowing 
Annual U.S. government debt interest expense, $B (LHS) and realized average interest rate, % (RHS)

Line chart showing annual U.S. interest expense and the realized average interest rate from 2006 to 2027. Interest expense rises sharply after 2021 to more than $1.3 trillion, while the average interest rate increases to about 3.5% after a decade of relatively low rates.

Source: Bloomberg. Data as of 9/30/2026. 

Approximately $10.5 trillion—roughly one-quarter of U.S. federal debt (see Figure 5)—must be refinanced over the next 12 months at these notably higher rates. If debt continues to grow at its recent pace and the average interest rate rises by only 50 bps, annualized interest expense could rise from roughly $1.36 trillion to about $1.67 trillion. The danger is that a self-reinforcing fiscal loop sets in: higher yields increase interest expense, larger interest expense widens deficits, larger deficits require greater Treasury issuance and greater issuance places further upward pressure on yields. 

Figure 5. Facing a Near-Term Refinancing Wall
U.S. Treasury debt monthly maturity schedule, $Trillions

Bar and line chart showing the U.S. Treasury debt maturity schedule from October 2026 to December 2028. Large debt maturities occur in late 2026 and early 2027, while cumulative maturities rise steadily to nearly $15 trillion by the end of 2028.

Source: Bloomberg. Data as of 9/30/2026. 

The lag in refinancing is crucial. Interest expense has risen sharply since 2021, while the realized average interest rate cost has climbed more gradually and remains well below current market yields, as shown in Figure 4. This means much of the higher-yield refinancing cycle has not yet been fully passed through to the government’s average borrowing cost. However, total interest expense has increased 2.8x since Q1 2021, growing at a 21% annualized rate, driven by higher total debt and higher yields. Sustained Treasury yields of 4-5% or higher, therefore, become progressively more consequential for the fiscal outlook, even if market rates remain near current levels. Speculation that the U.S. could outgrow its debt does not appear mathematically possible under current conditions.

This is where the short- and long-term implications for gold diverge. Rising real yields are a shorter-term cyclical headwind for gold. However, if those yields expose the economy and the fiscal system’s dependence on low financing costs, they strengthen the structural case for gold. The key transition occurs when policymakers can no longer tolerate the real interest rate required to credibly suppress inflation. 

The Economy Takes the Shock

Housing is already showing early signs of pressure. U.S. 30-year fixed mortgage rates reached roughly 7.3% during September as purchase and refinancing activity weakened. Similar pressure should increasingly be reflected in corporate financing costs, investment decisions, equity valuations and household consumption. A 3% real Treasury yield may be attractive to investors, but it also establishes a restrictive benchmark across the financial system. 

Energy further complicates the policy dilemma. The U.S.-Iran war and elevated oil, diesel and transportation costs create supply-side inflation that conventional monetary tightening cannot directly resolve. Higher rates cannot increase oil production or refinery capacity; they can only weaken demand elsewhere. An energy shock, therefore, begins as an inflation shock but can evolve into a growth shock through lower purchasing power and higher operating costs. If inflation remains elevated as growth slows, the Fed faces an increasingly unattractive choice between maintaining punitive real rates and protecting growth, financial stability and government financing. 

Gold’s strategic value rises as fiscal strain narrows policymakers’ room to maintain restrictive real rates.

The changing base of Treasury buyers strengthens this argument. Official reserve managers have historically purchased government bonds for liquidity, regulatory and strategic reasons rather than solely to maximize returns. As the marginal buyer becomes more price sensitive, investors demand greater compensation for inflation, duration and fiscal risk. Higher yields are the market’s natural solution, but at some point, they may become politically and fiscally intolerable. 

Treasury buybacks, maturity management, greater reliance on shorter-term bills and efforts to limit long-duration issuance do not constitute formal yield-curve control. They do, however, show how fiscal pressure can begin to influence the architecture of government financing. Policymakers ultimately have relatively few adjustment mechanisms: fiscal consolidation, faster nominal growth, higher inflation, renewed monetary accommodation or measures that suppress real borrowing costs. With meaningful fiscal consolidation politically difficult and stronger growth uncertain, some combination of monetary accommodation and financial repression becomes an increasingly plausible path of least resistance. 

For gold, financial repression is more than inflation; it is a regime in which nominal yields fail to fully compensate investors for inflation, fiscal risk or currency debasement. Sovereign bonds may continue to provide nominal stability, but their real purchasing power becomes less dependable. This is the core of the debasement trade.12 Investors increasingly seek assets that can preserve purchasing power as rising fiscal burdens constrain policymakers’ ability to maintain restrictive real rates. Gold becomes more valuable precisely because it exists outside that policy framework.

Owning Gold Is Not Controlling Gold

The pattern of demand for gold from central banks reflects more than inflation concerns. Reserve managers must increasingly consider the possibility of asset seizure, negative real returns, sanctions risk and an issuing government’s ability to change the rules governing reserve assets. Gold, by contrast, is no one else’s liability. When central banks hold physical gold in their home countries, it reduces both their counterparty exposure and dependence on another country’s legal and financial infrastructure. 

This is why reserve location matters. During 2026, France consolidated its remaining foreign-held gold in Paris, while the Netherlands shifted gold out of North America to improve liquidity and access in the event of a crisis. Germany has not initiated a new repatriation program, but there are renewed calls to repatriate its remaining gold held in New York, underscoring a growing focus on jurisdictional control. The broader message is that owning gold and controlling access to gold are not necessarily the same thing. 

In a fractured reserve system, ownership of gold matters—but control of it matters more.

China’s development of gold-related infrastructure adds another dimension. China and Hong Kong are developing vaulting, clearing, tokenized gold, Shanghai connectivity and renminbi repo arrangements13 that could make gold more usable as collateral, settlement infrastructure and a reserve asset. This does not require the renminbi to replace the dollar. The more consequential shift may be from a U.S. Treasury-centered reserve system toward a more diversified architecture in which gold plays a larger operational role. Reserve surpluses can increasingly be held in a neutral monetary asset that does not depend on another sovereign’s fiscal credibility, political decisions or sanctions framework. 

September highlighted the central tension in the gold outlook. Higher real yields remain gold’s most important cyclical risk. If real yields near 3% can persist alongside robust growth, fiscal sustainability and financial stability, gold could remain under pressure. But if restrictive real rates weaken housing and investment, raise debt-service costs and expose the system’s dependence on inexpensive funding, the same forces weighing on gold today may ultimately create the conditions for the policy response that supports it tomorrow.

Strong growth, supply constraints, energy inflation and heavy issuance are currently supporting higher real yields and creating a difficult backdrop for gold. The next phase begins when those real rates generate sufficient economic, financial or fiscal stress. If deficits and inflation remain elevated as growth weakens, policymakers will face a choice between sustaining monetary credibility and preserving system stability. That is the pathway from a real-rate shock toward fiscal dominance, financial repression and lower real returns on sovereign debt. 

Gold’s resilience suggests this longer-term transition may already be influencing investor behavior. September’s bond sell-off is both a near-term headwind and a longer-term validation of the structural thesis. As the tension between monetary credibility and fiscal sustainability intensifies, the strategic case for gold strengthens: it is an asset outside the sovereign liability structure and, when physically controlled, outside another country’s jurisdiction.

Silver Faces Macro Headwinds, but Industrial Demand Remains Supportive

Spot silver prices fell to $60.43 from $66.58 in September, a 9.24% decline. However, silver finished the quarter up 3.12% from its start.14 Silver’s monetary factor remained the key driver of price moves, impacted by the same rapid rise in rates and dollar-strength tailwinds that weighed on gold. Silver-related ETFs also experienced net outflows amid negative monthly momentum.

Freely available silver supply is materially higher year-over-year (YoY), with inventories showing greater stability YoY, indicating a market that is largely in balance for the time being. PV-solar-related industrial demand among Chinese buyers appears set to fall in late 2026, largely due to continued silver thrifting and improved industrial methods, although we note that this factor may see diminishing returns over time.15 Supply side factors have added to the ongoing macro tailwinds for silver, driving its relative underperformance versus gold.

Shanghai premiums signal that Chinese demand for silver remains a key source of support.

Despite the muted forecast for solar PV demand, Shanghai Silver Premiums have remained materially elevated since the end of 2025, suggesting a persistently strong relative Chinese demand for silver even as physical inventories have largely replenished from last year’s lows.16 The recent improvement in Chinese factory activity also offers evidence that broader industrial demand remains intact. The official Chinese purchasing managers’ index (PMI) rose to 50.1 in September from 49.8 in August, ending two consecutive months of contraction, indicating a constructive signal for silver-intensive applications, such as electrical applications, robotics and AI-related infrastructure.17

Figure 6. Shanghai Silver Premiums Remain Elevated Year-Over-Year

Line chart showing a market spread from September 2024 to September 2026. The spread remains relatively stable through 2025, spikes sharply above 35 in early 2026, then settles into a higher and more volatile range between roughly 5 and 15.

Source: Bloomberg (9/30/2024-9/30/2026). Shanghai Silver Premium.

While silver remains subject to the same rate-related headwinds that impact gold, it has the potential to outperform should rate pressures ease and markets stabilize. Market consensus points to the September spike in yields being driven by real rates and a resilient U.S. economy, both of which have weighed on the precious metals sector through the opportunity-cost effect. However, given silver’s dual role as both a precious and an industrial metal, continued strength in industrial demand is likely to provide additional support and contribute to relative outperformance as macro headwinds stabilize.

Looking ahead, although long-term yields have continued to rise, technical indicators are showing signs of exhaustion in the current bearish bond trend, suggesting the recent move in yields may be approaching an inflection point.18 We also point to the upcoming U.S. midterm election and the potential for divided government in Washington. Such an outcome could constrain the scope of aggressive fiscal outcomes, potentially removing some upward pressure on long-term yields.19 While considerable uncertainty remains, any sustained easing of rate pressures alongside resilient industrial demand could improve the relative risk/reward dynamic for silver.

Footnotes

1Gold bullion is measured by the Bloomberg GOLDS Comdty Index.
2Silver bullion is measured by the Bloomberg Silver (XAG Curncy) U.S. dollar spot rate.
3The NYSE Arca Gold Miners Index (GDM) is a rules-based index designed to measure the performance of highly capitalized companies in the gold mining industry.
4The Bloomberg Commodity Index (BCOM) is a broadly diversified commodity price index distributed by Bloomberg Indices.
5The U.S. Dollar Index (USDX, DXY, DX) is an index (or measure) of the value of the United States dollar relative to a basket of foreign currencies, often referred to as a basket of U.S. trade partners’ currencies.
6The S&P 500 or Standard & Poor’s 500 Index is a market-capitalization-weighted index of the 500 largest U.S. publicly traded companies.
7Refers to futures and options positions in gold and ETF gold holdings as reported monthly by the U.S. Commodity Futures Trading Commission, which provides insight into speculative and institutional demand for gold.
8TIPS (Treasury Inflation-Protected Securities) are U.S. government bonds whose principal adjusts with inflation (pegged to the CPI), so their yields reflect a “real” or inflation-adjusted return rather than a nominal one.
9Post-GFC: refers to the lengthy period following the Great Financial Crisis of 2008/09, when central banks established significant influence over financial markets and economic conditions by using policies like quantitative easing. This dominance was characterized by central banks making substantial asset purchases and attempting to keep interest rates low to encourage growth.
10The U.S. M2 money supply is a measure of the total money supply in the U.S. economy. It includes M1 (cash and checking deposits) plus savings deposits, small-denomination time deposits and balances in retail money market mutual funds. This represents money that is less liquid than M1 but can be converted into cash quickly.
11Financial repression refers to government policies that keep interest rates low and channel funds to the public sector, often resulting in savers earning returns below inflation. This approach is used to reduce a country’s debt-to-GDP ratio and can have significant long-term economic implications.
12The debasement trade is the strategy of shifting into hard assets like gold or other commodities on the expectation that governments will let currencies lose purchasing power through persistent deficits, rising debt and inflation rather than address fiscal imbalances through policy and discipline.
13China and Hong Kong are attempting to build an Asian alternative to London’s gold infrastructure. The Chinese central bank is shifting some reserves from London into Hong Kong’s expanding vaults and is trying to persuade other countries to hold their gold there or in the Shanghai Gold Exchange (SGE) vaults. A state-owned central clearing system entered trial in July 2026, featuring SGE connectivity, yuan gold futures and new renminbi liquidity facilities. China is also experimenting with tokenized gold and a gold-collateralized renminbi repurchase facility.
14Bloomberg (8/31/2026-9/30/2026). Silver Spot Price.
15Source: Mining.com, Silver Shortage Could Flip to Surplus in 2027: Deutsche, 10/5/2026.
16Bloomberg (9/30/2025-9/30/2026). Shanghai Silver Premium.
17Source: Reuters, Chinese factory activity expands in September amid AI boom, 9/29/2026.
18Source: Barrons, Interest Rates May Be Peaking – and Silver Is Quietly Flashing a Buy Signal, 10/1/2026.
19Source: Morningstar, What the Midterm Elections Will Mean for Markets, 10/8/2026.

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Categories
Base Metals Junior Mining Precious Metals Project Generators

Irruptive Metals announces 795.2 m grading 0.66% CuEq

Complete results from first drillholes campaign with significant
Copper-Gold Mineralization at Pimentón Project

2026 Diamond Drilling Program Confirms and Extends Historical
Copper-Gold Mineralization; Drilling Completed 3,084 m Across Four Holes.

Toronto, Ontario–(Newsfile Corp. – August 20, 2026) – Irruptive Metals Corp. (TSXV: IRR) (“Irruptive Metals” or the “Company“), an emerging copper-gold exploration company advancing the high-potential Pimentón Project located in the V Region, Central Chile, is pleased to announce the completion of its first diamond drill campaign, totalling 3,084 metres across four drillholes (IMP001 to IMP004), designed to test the central Cu-Au porphyry system within the Company’s flagship project. All assay results have now been received, validated, and incorporated into the geological model.

Drill Program Highlights

  • IMP002 returned 795.2 m with 0.66% CuEq (0.41 g/t Au, 0.31% Cu) from 167 m to end of hole at 962.2 m, including a gold-dominant high-grade interval of 60 m grading 1.49% CuEq (1.37 g/t Au, 0.31% Cu)
  • IMP001 returned two significant intervals: 202 m with 0.38% CuEq (0.22 g/t Au, 0.19% Cu) from 177 m to 379 m, and 358.4 m with 0.49% CuEq (0.29 g/t Au, 0.24% Cu) from 513 m to 871.4 m (EOH)
  • IMP003 returned 42 m with 0.25% CuEq (0.12 g/t Au, 0.15% Cu) from 171 m to 213 m and 176 m with 0.31% CuEq (0.15 g/t Au, 0.18% Cu) from 227 m to 403 m
  • IMP004 returned 406 m with 0.47% CuEq (0.26 g/t Au, 0.25% Cu) from 259 m to 665 m.
  • Results confirm and extend historical drilling by Rio Tinto and Anglo American, demonstrating geological continuity across the Central target area
  • Drill program completed 3,084 m of drilling across four holes from two platforms, with operations concluded on April 17, 2026

“These results from our 2026 drilling program are highly encouraging and confirm the significant copper-gold potential at Pimentón,” said Alfredo Bazo, President and CEO of Irruptive Metals. “The consistency of our results with historical drilling by Rio Tinto and Anglo American validates our geological model. We are particularly pleased with the 795-metre intercept in IMP002, which demonstrates both the scale and grade potential of the Central target. We look forward to advancing the project toward resource definition as we prepare for our next drilling campaign, as the mineralization remains open.”

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Program Overview and Results

The 2026 diamond drilling program was designed to twin or near-twin historical drillholes completed by Rio Tinto and Anglo American, with the objective of confirming historical geological and grade information and testing lateral and vertical extensions of known mineralization. The historical datasets were reviewed by Román Flores, P.Geo., author of the Company’s NI 43-101 Technical Report on the Pimentón Project (effective July 20, 2026). Mr. Flores is independent of Irruptive Metals for the purposes of Section 1.5 of National Instrument 43-101 and is a Qualified Person under NI 43-101.

Results obtained to date are consistent with the historical datasets and support the reliability of the original drilling. No mineral resource or mineral reserve has been estimated on the Pimentón Project, and the mineralization described in this news release is not necessarily indicative of the presence of a mineral resource or mineral reserve.

Using the same drill platforms as holes IMP001 and IMP002, IRR completed two additional holes (IMP003 and IMP004) oriented to the south (azimuth 180°, dip -70°) to evaluate the potential southward extension of the mineralized system. Hole IMP004 successfully intersected the targeted Cu-Au porphyry mineralization, including vein styles, sulfide assemblages and alteration consistent with the mineralized center defined in IMP001 and IMP002. These results provide additional evidence that the porphyry system remains open to the southeast, east and northeast supporting continued step-out drilling in that direction.

Mineralization is associated with a complex of Cu-Au porphyry dykes exhibiting potassic alteration (K-feldspar, biotite), EB-type and A-type veins. Higher-grade zones correspond to early mineral porphyry phases overprinted by green-sericite-chalcopyrite assemblages. Some High-sulfidation Au-Ag-Cu vein systems appear telescoped over porphyry and also located peripheral to the center.

The geological interpretation, based on the integration of new drillholes and historical datasets, identifies a Cu-Au porphyry dyke complex with an NNE orientation and near-vertical dip. This Cu-Au porphyry corridor is currently 600 metres long, 300 metres wide and is open to the E, SE, NE and W, representing the principal conduit for mineralization within the Central Target. The geometry and orientation of these dykes provide a coherent framework that explains the distribution of potassic-centred mineralization, the green sericite high-grade transitional halo, and peripheral alteration zones observed across both historical and recent drilling.

Outlook and Next Steps

  • Reprocessing of historical geophysics (Magnetometry, IP-Res & MT) to improve and prioritize targets, Q3-2026
  • Conduct geometallurgical sampling and mineralogical/metallurgical test work
  • Resampling historical holes in central target (PP18 & PP04) to include in updated NI 43-101 Technical Report with initial inferred resource estimate, Q1-2027
  • Advance drilling to test lateral and deep extensions of the Central target to expand the initial resources, Q4 2026 to Q1 2027
  • Obtain the environmental permits (DIA) to drill the Ridge-Bx, SE, Verde and Maria Elena targets to consolidate the Pimentón project as a high-potential Cu-Au resource, Q1 2028

Table 1: Summary of Significant Drill Intercepts

Drill Results SummaryFromToLength (m)Au g/tCu %CuEq %
Hole
IMP0011773792020.220.190.38
513871.4358.40.290.240.49
IMP002167962.2795.20.410.310.66
High grade zone1813171360.440.430.81
327387601.370.311.49
IMP003171213420.120.150.25
2274031760.150.180.31
IMP0042596654060.260.250.47

Notes: Intervals are reported using a cut-off of CuEq >0.2% with three dilution samples (6 m) and no top-cut applied. CuEq = Cu% + (Au g/t × 0.86). Metal prices used are the two-year average (2024-2025): US$4.95/lb Cu and US$2,918/oz Au. Recoveries were assumed equal for all metals. CuEq is used for comparison purposes only. No metallurgical recovery testwork has been completed on the Project; equal recoveries have been assumed for all metals for illustrative purposes only, so the reported CuEq values may not be representative of recoverable or economically recoverable metal.

Reconciliation with Technical Report: These results are final and, where they differ, update the preliminary intercepts disclosed in the NI 43-101 Technical Report (July 20, 2026). Intervals in this release are composited using three dilution samples (6 m); the Technical Report used two dilution samples. Reported intervals are therefore not directly comparable to that report, and the 478 m at 0.80% CuEq interval shown for IMP002 in the Technical Report is not reproduced here.

True Widths: All reported intervals are downhole core lengths. True widths have not yet been determined and are expected to be less than the reported downhole lengths.

Table 2: Drillhole Collar Locations

Hole IDEasting (m)Northing (m)Elevation (m)Azimuth (°)Dip (°)EOH depth (m)
IMP0013855716406345362760−70871.4
IMP0023856706406472362960−70962.2
IMP00338557364063463627180-70503
IMP00438566664064713629180-70747.3
Note: Coordinates are in WGS84 Zone 19S.

Figure 1: Plan view showing location of Irruptive Metals’ and historical drillholes, CuEq grade shell interpretation at 3200m of elevation in Central target, and key outcrops (Cu-Au porphyry and tourmaline breccia) in Ridge-Bx and SE targets.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12566/310582_edd1fb429431c8a5_001full.jpg

Figure 2: Irruptive Metals’ geological interpretation of Cu-Au porphyry dykes complex and significant intercepts in holes IMP001 and IMP002.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12566/310582_edd1fb429431c8a5_002full.jpg

Sampling and QA/QC

Drill core was logged, sampled, and cut under the supervision of Company geologists. Samples were prepared and analyzed by AGS-Cotecna laboratory, which is independent of the Company and an ISO/IEC 17025-accredited laboratory. Gold assays were completed using fire assay with AAS finish. Multi-element determination was completed by four-acid digestion (HF-HNO₃-HClO₄-HCl) followed by ICP-OES analysis. The Company maintains a rigorous QA/QC program including the insertion of certified reference materials (5%), blanks (2.5%), and field duplicates (2.5%) at regular intervals. No material QA/QC issues were identified in the reviewed data. The Qualified Person has verified the data underlying the technical information disclosed in this news release, including by reviewing the assay results, the QA/QC data and the sampling and analytical procedures, and is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Claudio Burgoa, P.Geo., Chief Geologist of Irruptive Metals, a qualified person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects and Qualified Person #535, Comisión Minera de Chile.

About Irruptive Metals Corp.

Irruptive Metals Corp. (TSXV: IRR) is a Canadian copper-gold exploration company focused on unlocking value from high-quality mineral projects in Chile. The Company’s flagship Pimentón Project is strategically located within one of the world’s most prolific porphyry copper-gold belts and has been the subject of extensive historical exploration by major mining companies, underscoring its significant discovery potential.

For further information, contact:

Alfredo Bazo

President, Chief Executive Officer and Director
Email: info@irruptivemetals.com
Website: https://irruptivemetals.com/

100 King Street, Suite 3400, Toronto, ON, Canada, M5X 1A4

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “will”, “estimates”, “believes”, “intends”, “expects” and similar expressions which are intended to identify forward-looking statements.

More particularly and without limitation, this news release contains forward-looking statements that include, but are not limited to, statements regarding the Company’s drill program results, exploration targets, geological interpretations, future resource evaluation work, and the potential advancement of the Pimentón Project.

Forward-looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company and the Pimentón Project. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Additional information, including risks facing the Company, are outlined in the Company’s Filing Statement dated July 20, 2026, which is available on SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile. The forward-looking statements contained in this news release are made as of the date of this news release and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310582

Categories
Base Metals Junior Mining Precious Metals Project Generators

First Breach Expands Hiring Initiative to Support Ammunition Production Growth and Planned Drone Manufacturing Operations

Management to attend AUSA 2026 Annual Meeting and Exposition in Washington, D.C., October 12-14

HAGERSTOWN, MD / ACCESS Newswire / October 8, 2026 / First Breach Inc. (NASDAQ:FBDT) (“First Breach” or the “Company”), an American-made defense technologies company focused on vertically integrated ammunition production and next-generation unmanned aerial systems, today announced an expanded recruitment initiative to support increased ammunition production and the planned buildout of its drone manufacturing operations in Hagerstown, Maryland.

The initiative is intended to strengthen the Company’s workforce as it scales its ammunition business and develops the technical and operational capabilities needed for its unmanned systems programs.

“Building our workforce is an important part of our efforts to expand ammunition production and prepare for planned drone manufacturing operations,” said Jeffrey Low, Co-Founder and Chief Executive Officer of First Breach. “We are looking to bring additional talent into the Company to support these efforts as we develop our U.S. manufacturing capabilities.”

Interested candidates are encouraged to inquire about employment opportunities and submit their resumes through the Company’s career application page.

Management to Attend AUSA 2026

Members of First Breach’s management team will also attend the Association of the United States Army (AUSA) 2026 Annual Meeting and Exposition, taking place October 12-14 at the Walter E. Washington Convention Center in Washington, D.C.

The annual event brings together military leaders, government representatives, defense companies and international delegations to discuss Army priorities, emerging technologies and the future of land warfare. First Breach management looks forward to on-site meetings with industry participants to discuss the Company’s ammunition capabilities and developing unmanned systems business, explore potential collaborations and better understand customer requirements.

Industry participants interested in arranging an on-site meeting with First Breach management may contact Ken Leith, Chief Revenue Officer, at ken@firstbreach.com. Additional information about the conference is available at the AUSA 2026 Annual Meeting and Exposition website.

About First Breach

First Breach Inc. is an ISO 9001:2015 certified, American-made defense technologies company focused on manufacturing match-grade ammunition components, finished ammunition, and developing next-generation unmanned aerial systems for commercial, law enforcement, and military markets. The Company manufactures its products in-house at its Hagerstown, Maryland facility, where it produces brass cups, casings, projectiles, lead cores, lead wire, and completed ammunition with rigorous quality control standards. First Breach is also advancing its drone strategy through the development of U.S.-made unmanned systems, leveraging advanced engineering, robotics, ISR and sensor technologies, and precision manufacturing capabilities to address evolving defense, homeland security, law enforcement, and commercial requirements across domestic and international markets.

For more information, please visit: First Breach

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts and include statements regarding the Company’s expectations, beliefs, plans, objectives, strategies, future events, future performance, business prospects, growth initiatives, acquisitions, market opportunities, capital resources, operational objectives, and other statements that are predictive in nature. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions, although not all forward-looking statements contain these identifying words.

Forward-looking statements are based on management’s current expectations, assumptions, and beliefs regarding future developments and their potential effect on the Company. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements.

Factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in economic, business, market, competitive, regulatory, technological, legal, and geopolitical conditions; the Company’s ability to execute its business strategy; access to capital and financing; customer demand; industry developments; and other risks and uncertainties described from time to time in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as required by applicable law, the Company undertakes no obligation to update, revise, or publicly disclose any revisions to any forward-looking statements to reflect events, circumstances, or changes in expectations occurring after the date of this press release.

Investor Relations

Frank Pogubila
Partner
Integrous Communications
Phone: 951.946.5288
Email: fpogubila@integcom.us
Website: www.firstbreach.com

For additional company updates, follow First Breach on LinkedIn, X, and Facebook.

SOURCE: First Breach

View the original press release on ACCESS Newswire

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Sage Potash, Drills, Hits. Giant Addition to Potash Resource

Bob Moriarty
Archives
Oct 2, 2026

I first wrote about a new advertiser named Sage Potash last June. In that piece I wanted to make the point that having a single country potentially controlling a substantial flow of major commodities such as oil and oil related products was especially dangerous for the world economy. It doesn’t make any difference if that country is considered a friend or foe.

That’s exactly the situation Trump has dragged the US into to pay for and fight a war against a country not our enemy. But Israel controls Congress, they control the Senate, now the military and certainly own Donald J. Trump. It’s a war for Israel, not a war the US stands to gain anything. But Israel hates all their neighbors and whines on a constant basis about how they, Israel, are the victims. They are not.

Countries of the world need to be thinking seriously about a Plan B. Anything energy related needs to be considered. Having an alternative source of supply could easily mean issues of life and death. We are going to understand that better this winter when foolish energy decisions such as that of Germany allowing the US military to blow up 75% of the four Nord Stream pipelines cause Europeans to freeze and potentially starve due to the cost and availability of energy and energy products.

Fertilizer is a perfect example. Many of the inputs to fertilizer are produced as a byproduct of refining crude oil such as sulfur. Due to this incredibly stupid and pointless war, the costs of farming such as diesel fuel and urea or sulfur have shot through the roof.

A tiny company in Utah heard a knock on the door and found to their great pleasure that it was opportunity knocking. Sage Potash (SAGE-V) owns a 345 square km potash property in a basin in Utah. Based on the first drill hole they put down named Johnson 1 the company has an existing 43-101 inferred resource of 298.1 million tonnes of high-grade potash. Obviously right from the start it is going to be difficult for potential investors to understand what value the company offers so I am going to lead you through how to determine that.

With some flat lying sedimentary minerals such as coal and potash even a single hole can generate an inferred resource. The theory being that since it is a flat deposit of sedimentary material even a single hole will suggest similar material surrounding the hole. In the case of the first hole, named Johnson 1, the QP used a circle around the hole with a diameter of 2.4 km. The QP concluded the grade of the hole and thickness justified an inferred resource of 298.1 million tonnes at an average of about 40% potash.

The potash market has been relatively stable for the last couple of years because potash doesn’t come from natural gas or crude oil. The value of a tonne of potash in the markets the Utah based Sage would serve would be about $472.50. If you multiply the resource of 298.1 million tonnes by an average grade of about 40% and factor in the current price of $472.50 the theoretical value of the potash in the ground would be about $56 billion in USD.

Here is where it gets very interesting. I have looked at the capex and Opex of other potash companies and it looks to me as if the company could in theory net about $300 a tonne and produce between one and two million tonnes a year. The Capex is not cheap, it could be in the $1 to $2 billion range.

The real news beyond the excellent drill results from Hole 2, named Peterson 1 released on September 28th and promptly ignored by investors is just how it will affect the 43-101 numbers.

If you look at the chart we prepared below. The black circle reflects the 298.1 million tonnes with the resource derived from the Johnson 1 hole. And now the company has drilled the Peterson 1 hole just 1 km to the NE. That hole is surrounded by a 2.4 km diameter dashed line. If the QP shows that in the 43-101 coming in about a month, the red area in between Johnson and Peterson will almost certainly qualify as Measured and Indicated. The green quarter moons above and below the holes will almost certainly be Inferred. So it looks to me as if the resource will only grow perhaps 25% but the high-grade resource shown in red will be about 50% of the total. That’s a giant move higher in confidence and should draw the attention of majors.

The grade of the potash shown in both holes is exceptional and is among the highest grade in the world. It certainly looks to me as if this will be put into production. The US needs to control the inputs to its own agriculture industry.

Sage is an advertiser and I have bought shares in the open market. Naturally I am biased so do your own due diligence. Their only problem is a lack of visibility.

Sage Potash Corp
SAGE-V $.13 Oct 01, 2026
SGPTF-OTCQB 171 million shares 
Sage Potash website

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

Source: http://www.321gold.com/editorials/moriarty/moriarty100226.html

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Kinross Commences Drilling at West Point Gold’s Jefferson Canyon Project, 7 km from Round Mountain

Vancouver, British Columbia–(Newsfile Corp. – October 1, 2026) – West Point Gold Corp. (TSXV: WPG) (OTCQX: WPGCF) (FSE: LRA0) (“West Point Gold” or the “Company”) is pleased to report that following the receipt of permits and the completion of bonding, Kinross Gold U.S.A., Inc. (“Kinross”), a wholly owned subsidiary of Kinross Gold Corporation, has commenced drilling at West Point Gold’s Jefferson Canyon project in Nye County, Nevada.

Highlights

  • Kinross has commenced drilling on September 23, 2026, at West Point Gold’s Jefferson Canyon, located approximately 7 kilometres from its Round Mountain operations.
  • Partner-funded exploration allows West Point Gold to retain exposure to Jefferson Canyon while allowing the Company to remain focused on its flagship Gold Chain Project.
  • Permits were received August 19, 2026, starting the four-year option period laid out in the 2022 Exploration and Option Agreement (the “Agreement”).
  • The Agreement provides for the potential of up to US$10 million in future option payments.
  • West Point Gold retains meaningful long-term exposure to Jefferson Canyon, including a 20% project interest if both Kinross options are exercised and royalty protection should its interest subsequently be diluted below 10%.

“We are excited that drilling has begun at West Point Gold’s Jefferson Canyon project. The historical drilling and work we previously completed suggest this project has the potential to deliver a significant deposit. Given the project’s proximity to Kinross’s Round Mountain mine and our partnership on the Jefferson Canyon project with Kinross, we believe the hurdle rate to define a mineable deposit is relatively low,” stated Derek Macpherson, President & CEO.

Jefferson Canyon Project, Nevada
The Jefferson Canyon project in Nye County, Nevada is located 7 kilometres from Kinross’s Round Mountain operations (Figure 1). The project has 145 historical drill holes, including 41.2m at 6.4 g/t gold and 402 g/t silver (GJ-81). In 2022, West Point Gold entered into an Exploration and Option Agreement with Kinross (the “Agreement”). Kinross has made all the required payments associated with the agreement to date.

Figure 1: Jefferson Canyon Project Relative to Round Mountain

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5717/316830_bb7e6c53c4253965_002full.jpg

The Jefferson Canyon project contains a large volcanic-hosted epithermal Au-Ag system that is essentially the same age as the nearby Round Mountain deposit, a world-class low-sulfidation (LS) epithermal deposit. Both are hosted in felsic ash-flow tuffs along the margins of calderas and both contain a strong northwest-trending and north-south structural control to veins. Both areas contain low-grade disseminated and high-grade vein or replacement-type mineralization.

Historical drilling has defined multiple zones of mineralization (Figure 2) and has been highlighted by multiple significant drill intercepts, including 41.2m of 6.4 g/t Au and 402 g/t Ag (GJ-81).

Figure 2: Historical Drill Holes and Mineralized Envelope along the Jefferson Canyon (“JF”) Fault

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5717/316830_bb7e6c53c4253965_003full.jpg

Soil sampling in 2021 revealed a four-square-kilometre circular gold-in-soil anomaly (Figure 3). The highest Au-in-soil value was 4,470 parts per billion Au and anomalous values were distributed as follows: 29 samples contained greater than 500 parts per billion Au; 99 samples were greater than 200 ppb Au; 234 samples were greater than 100 ppb Au; and, 631 samples were greater than 20 ppb Au. The five rock samples collected were anomalous, with values of up to 15.2 g/t gold and 421 g/t silver.

Figure 3: Gold-in-Soil and Silver-in-Soil Anomalies at Jefferson Canyon with historical drill collars

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5717/316830_wpg-figure3.jpg

The CSMAT resistivity data suggests that the Jefferson Canyon fault is a deep structure which likely controls mineralization. This spatial relationship to the gold-silver mineralization supports the potential to expand the mineralized footprint both along strike and depth. A large conductor is evident down plunge along the northeast-dipping Jefferson Canyon fault.

Figure 4: CSAMT /Resistivity Model Showing the Projection of the Jefferson Canyon Fault at Depth

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5717/316830_wpg-fig4.jpg

Link to Updated Jefferson Canyon Video

Key Remaining Terms of the Agreement:

  • Kinross will continue making ongoing lease payments of US$75,000 per year for the term of the agreement.
  • Kinross is required to spend US$600,000 on exploration work and will be responsible for making the payments to keep the unpatented claims in good standing.
  • During the term of the agreement, Kinross has the option to acquire 70% of the project for a cash payment of US$5,000,000 to West Point Gold and form a joint venture LLC, and a second option to acquire an additional 10% of the project for a further payment of US$5,000,000 to the Company.
  • The term of the Agreement is four years commencing from receipt of drill permits, with a potential extension of up to two years, subject to certain conditions. Drill permits were received on August 19, 2026.
  • If an LLC is formed, and either party is diluted below 10%, its interest converts to a 1% net smelter returns (NSR) royalty.

Marketing Engagements
The Company has engaged New Era Publishing Inc. (“New Era”), also doing business as Katusa Research, an arm’s-length service provider, to provide the Company certain investor relations and marketing services, in accordance with the policies of the TSX Venture Exchange and applicable securities laws. Based in Vancouver, B.C., New Era specializes in media and investor relations services within the natural resource sector. Under a consulting agreement dated September 8, 2026, New Era will provide media relations, investor communication and market awareness services to the Company for a two-month term for a one-time fee of US$150,000, payable at the commencement of services. The Company will not issue any securities to New Era as compensation for its services. As of the date hereof, to the Company’s knowledge, New Era (including its directors and officers) does not own any securities of the Company. The marketing agreement with New Era is subject to TSX Venture Exchange approval.

Additionally, the Company has engaged Freedom Financial Research, LLC (“Freedom Financial”), an arm’s-length service provider, to provide the Company certain investor relations and marketing services, in accordance with the policies of the TSX Venture Exchange and applicable securities laws. Based in Charlottesville, Virginia, Freedom Financial specializes in media and investor relations services. Under a consulting agreement dated September 11, 2026, Freedom Financial will provide media relations, investor communication and market awareness services to the Company for a 90-day term for a one-time fee of US$150,000, payable at the commencement of services. The Company will not issue any securities to Freedom Financial as compensation for its services. As of the date hereof, to the Company’s knowledge, Freedom Financial (including its directors and officers) does not own any securities of the Company. The marketing agreement with Freedom Financial is subject to TSX Venture Exchange approval.

Qualified Person
Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company’s Vice President, Exploration, is a qualified person (“QP”) as defined by NI 43-101 and has reviewed and approved the technical content of this press release. The QP has not completed sufficient work to verify the historical information on the properties, particularly regarding historical drill results. However, the QP believes prior drilling and analytical results were completed in accordance with industry-standard practices.

About West Point Gold Corp.
West Point Gold is an exploration and development company focused on unlocking value across four strategically located projects along the prolific Walker Lane Trend in Nevada and Arizona, USA, providing shareholders with exposure to multiple discovery opportunities across one of North America’s most productive gold regions. The Company’s near-term priority is advancing its flagship Gold Chain Project in Arizona.

For further information regarding this press release, please contact:
Aaron Paterson, Corporate Communications Manager
Phone: +1 (778) 358-6173
Email: info@westpointgold.com

Stay Connected with Us:
LinkedIn: linkedin.com/company/west-point-gold
X (Twitter): @westpointgoldUS
Facebook: facebook.com/Westpointgold/
Website: westpointgold.com/

FORWARD-LOOKING STATEMENTS:
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events including, among others, assumptions about future prices of gold, silver, and other metal prices, currency exchange rates and interest rates, ability to define economic mineralization, favourable operating conditions, political stability, obtaining government approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, availability of drill rigs, and anticipated costs and expenditures. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to West Point Gold’s ability to complete any payments or expenditures required under the Company’s various option agreements for its projects; and other risks and uncertainties relating to the actual results of current exploration activities, the uncertainties related to resources estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; risks relating to grade and continuity of mineral deposits; the uncertainties involved in interpreting drill results and other exploration data; the potential for delays in exploration or development activities; uncertainty related to the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results may vary from those expected; statements about expected results of operations, royalties, cash flows, financial position may not be consistent with the Company’s expectations due to accidents, equipment breakdowns, title and permitting matters, labour disputes or other unanticipated difficulties with or interruptions in operations, fluctuating metal prices, unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and regulatory restrictions, including environmental regulatory restrictions. The possibility that future exploration, development or mining results will not be consistent with adjacent properties and the Company’s expectations; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); metal price fluctuations; environmental and regulatory requirements; availability of permits, failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; fluctuating gold prices; possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, political risks, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks involved in the mineral exploration and development industry, and those risks set out in the filings on SEDAR+ made by the Company with securities regulators. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this corporate press release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, other than as required by applicable securities legislation.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316830

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

First Breach Expands Ammunition Manufacturing Operations to Seven Days a Week

Scheduled manufacturing hours increase 110%, from 40 to 84 per week, as Company advances toward planned 24-hour operations

HAGERSTOWN, MD / ACCESS Newswire / September 30, 2026 / First Breach Inc. (NASDAQ:FBDT) (“First Breach” or the “Company”), an American-made defense technologies company focused on vertically integrated ammunition production and next-generation unmanned aerial systems, today announced that its ammunition manufacturing facility in Hagerstown, Maryland, has transitioned from eight-hour operations, Monday through Friday, to 12-hour operations, seven days a week.

Following a successful initial trial, the expanded schedule increases scheduled manufacturing hours from 40 to 84 per week. The transition represents the first phase of the Company’s planned move to 24-hour operations through two 12-hour shifts, seven days a week.

Together with recently installed loading and inspection equipment, the additional hours are intended to increase ammunition production capacity and support customer demand, including purchasing commitments under the Company’s previously announced three-year supply and distribution agreement with SAS Ammo.

“This expansion allows us to make greater use of our equipment and existing facility as we work to increase production and strengthen our ability to serve customers,” said Jeffrey Low, Co-Founder and Chief Executive Officer of First Breach. “The positive results of our initial trial give us confidence in our phased approach as we work toward continuous production.”

The expansion builds on First Breach’s investment in domestic ammunition manufacturing and its ISO 9001:2015-certified quality management system. Experience gained in managing additional shifts and coordinating production teams is also expected to support the Company’s planned drone manufacturing expansion.

About First Breach

First Breach Inc. is an ISO 9001:2015 certified, American-made defense technologies company focused on manufacturing match-grade ammunition components, finished ammunition, and developing next-generation unmanned aerial systems for commercial, law enforcement, and military markets. The Company manufactures its products in-house at its Hagerstown, Maryland facility, where it produces brass cups, casings, projectiles, lead cores, lead wire, and completed ammunition with rigorous quality control standards. First Breach is also advancing its drone strategy through the development of U.S.-made unmanned systems, leveraging advanced engineering, robotics, ISR and sensor technologies, and precision manufacturing capabilities to address evolving defense, homeland security, law enforcement, and commercial requirements across domestic and international markets.

For more information, please visit: First Breach

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts and include statements regarding the Company’s expectations, beliefs, plans, objectives, strategies, future events, future performance, business prospects, growth initiatives, acquisitions, market opportunities, capital resources, operational objectives, and other statements that are predictive in nature. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” and similar expressions, although not all forward-looking statements contain these identifying words.

Forward-looking statements are based on management’s current expectations, assumptions, and beliefs regarding future developments and their potential effect on the Company. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements.

Factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in economic, business, market, competitive, regulatory, technological, legal, and geopolitical conditions; the Company’s ability to execute its business strategy; the successful integration of acquisitions and strategic transactions; access to capital and financing; customer demand; industry developments; and other risks and uncertainties described from time to time in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as required by applicable law, the Company undertakes no obligation to update, revise, or publicly disclose any revisions to any forward-looking statements to reflect events, circumstances, or changes in expectations occurring after the date of this press release.

Investor Relations
Frank Pogubila
Partner
Integrous Communications
Phone: 951.946.5288
Email: fpogubila@integcom.us
Website: www.firstbreach.com

For additional company updates, follow First Breach on LinkedIn, X, and Facebook.

SOURCE: First Breach

View the original press release on ACCESS Newswire

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Sage Potash Delivers 3.3 Meters of 52.5% KCl at Its Sage Plain Project in Utah

Vancouver, British Columbia and Salt Lake City, Utah–(Newsfile Corp. – September 28, 2026) – Sage Potash Corp. (TSXV: SAGE) (OTCQB: SGPTF) (“Sage Potash” or the “Company”) is pleased to provide potash assay results from the completion of drilling operations at the Peterson 1 site, located at the Company’s flagship Sage Plain Potash Project in southeast Utah. Results from the Saskatchewan Research Council lab assays returned three high-grade potash sections grading better than 50.0 % KCl within the Upper and Lower Cycle 18 potash beds. High-grade sections in the Upper Cycle 18 potash horizon include 10.8 feet (3.3 m) of 52.5% KCl and 3.3 feet (1.0 m) of 52.0% KCl within the 26.6 foot (8.1m) thick intersection of the Upper Cycle 18 potash bed grading 36.1% KCl. A high-grade, 10.1 foot (3.1 m) section grading 53.4% KCl in the Lower Cycle 18 potash bed occurs within a 16.4 foot (5.0 m) thick intersection grading 36.4% KCl, confirming the continuity and high-grade tenor of the deposit and making it one of the highest-grade deposits around the world.

DRILL PROGRAM HIGHLIGHTS

  • Continuity of high-grade potash and significant bed thicknesses have been confirmed for both Upper and Lower Cycle 18 potash beds.
  • Outstanding, high-grade tenor confirmed within the Upper and Lower Cycle 18 potash beds as summarized in Table 1.
  • Combined grade and thickness of 36.3% over 43 feet (13.1 m) for the whole of Cycle 18.
  • The potash intervals and assay results confirm remarkable continuity between the recently completed Peterson 1 hole and the previous Johnson 1 hole, located 0.62 miles (1.0 km) to the south.
  • Importantly, we have now also confirmed high-grade potash mineralization in the Lower Bed of Cycle 18.
FROM
(ft)
TO
(ft)
THICKNESS
(ft)
THICKNESS
(m)
KCl
GRADE
(%)
UPPER CYCLE 18
7,087.67,114.226.68.136.1%
Including7,087.67,090.93.31.052.0%
Including7,098.17,108.910.83.352.5%
LOWER CYCLE 18
7,154.27,170.616.45.036.4%
Including7,154.27,164.410.23.153.4%

Table 1. Summary of Upper and Lower Cycle 18 drill intercepts in Peterson 1

“Completing the Peterson 1 drilling program and receiving these outstanding analytical results mark a significant, transformational development for the Sage Plain Project,” said Patricio Varas, CEO of Sage Potash. “The continuity, thickness and high grades of the potash beds demonstrate a world-class deposit that can be advanced rapidly toward production.”

Mr. Varas added: “Potash project resources commonly exceed the tonnage required to define reserves and a mine plan. As we advance the project – first with an updated resource estimate, followed by a PFS and further engineering studies, we expect the new resource to support a higher-capacity mine plan contemplating meaningful potash production in the United States. This scale should allow Sage to evaluate various mining methods and optimize a mine plan that leverages the very high-grade mineralization to target a high IRR and rapid payback, while pursuing a development larger than the 300,000 tonnes per year contemplated in the September 8, 2025 PEA.”

Mr. Varas further added: “The Sage Plain Project is advancing as the United States designates potash a critical mineral and global attention to fertilizer-input security remains elevated.”

Results from these analytical assays will now be used to update the project resources. An updated NI 43-101 resource estimate is planned to be delivered in the next 45 days.

PETERSON DRILLING PROGRAM

As previously announced, the Peterson 1 stratigraphic exploration hole was successfully completed on August 4, 2026, marking a key operational milestone for the project. During an initial onsite geological assessment of the recovered core, the Company confirmed the presence of pure sylvite mineralization within the Cycle 18 potash horizons.

The Peterson 1 hole was sited 0.62 miles (1.0 km) to the north-northeast of the previously drilled Johnson 1 hole (Figure 1) to facilitate both a resource expansion and delineation of a portion of the resource that will fall into the measured and indicated categories in a new NI 43-101 resource estimate.

Figure 1. Property location map with Peterson 1 and Johnson 1 Drill Hole Locations and regional extent of potash mineralization (USGA and others). Drill Hole Locations show Radius of Influence(“ROI”) illustrated as used in resource calculations.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11610/316267_d1bfa3083455696f_001full.jpg

Core from the Cycle 18 Upper and Lower zones was recovered and transported to the Saskatchewan Research Council laboratories in Saskatoon, Saskatchewan (“SRC”), for geochemical analysis. Samples were collected and shipped under the supervision of qualified independent geological personnel for analysis using industry-standard procedures. Quality assurance and quality control protocols included the insertion of blanks, standards, and duplicate samples throughout the sampling program. Assays were completed along the entire length of recovered core. Eight, one foot (30 cm) core sections were removed at the site for geo-mechanical testing. These core sections will be forwarded to the SRC laboratory for assays when geo-mechanical testing is completed. In the absence of assays, gamma ray results were used to determine the potash content for those eight samples.

The geochemical assay samples and resulting delineation of grade intercepts confirm attractive potash bed thicknesses and grades that demonstrate the high-grade tenor of the mineralization in this part of the Paradox Basin, between the Johnson 1 and Peterson 1 holes. The continuous thicknesses and high grade now demonstrated by the historical wells and the Peterson well will allow for a significant increase in the resource estimate and will allow for an upgrade in the quality of the resource for the project.

The Company has engaged RESPEC LLC to perform the NI 43-101 resource calculation based on the inclusion of the Peterson 1 drill hole information. RESPEC previously completed a NI 43-101 resource estimate on Sept 8, 2025.

SUMMARY OF CURRENT RESULTS AND COMPARISON TO PREVIOUS DRILL HOLE

Peterson 1 assays returned 36.1% KCl over 26.6 feet (8.1 m) in the Upper Bed of Cycle 18 and 36.4% KCl over 16.4 feet (5.0 m) in the Lower Bed of Cycle 18.

Figure 2. – Peterson 1 photograph of core recovered at the beginning of the Upper bed interval shows pure sylvite mineralization.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11610/316267_d1bfa3083455696f_002full.jpg

Cycle 18
Member
Thickness
(ft)
Thickness
(m)
Weighted Average K2O Grade (percent)Weighted Average KCl Grade (percent)Weighted Average Carnallite Content (percent)Weighted Average Insoluble Content (percent)
Peterson 1
Upper Bed26.68.1023.1%36.1%<0.1%<1 %
Lower Bed16.55.0423.3%36.4%<0.1%<1 %
Johnson 1
Upper Bed23.87.2629.1%46.1%0.01%0.56%
Lower Bed18.05.4822.6%35.8%NANA

Table 2. – Full interval lengths and grades for the Cycle 18 Upper and Lower Beds; Peterson 1 and Johnson 1 drill holes.

Table 2 shows the overall thickness and grade encountered at the Peterson 1 hole compared to the Johnson 1 drill hole; the two holes show excellent continuity. The current drill program recovered an outstanding high-grade interval within the Upper Bed of Cycle 18. At 7,094.5 feet (2162.4 m) of depth at the Peterson 1 drill site an interval measuring 13.8 feet (4.22 m) grading 45.5% KCl was recovered within an intercept of 19.7 feet (5.99 m) in the Cycle 18 Upper Bed with grades of 39.4% KCl. This correlates to a continuation of the same high-grade interval at Johnson 1 which was 15.0 feet (4.58 m) of 53.5% KCl.

The following figure shows a comparison of the Peterson 1 drill intercepts set out with the corresponding Johnson 1 drill intercepts in relation to the same stratigraphic bed for the Cycle 18 Upper Bed.

Figure 3. – Peterson-1 and Johnson-1 Upper Bed of Cycle 18 drill hole intercepts and continuity of Lithology

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11610/316267_d1bfa3083455696f_003full.jpg

The beginning of the Upper Bed of Cycle 18 was encountered at 7,085.6 feet (2,159 m) at Peterson 1 and correlates well with the Johnson 1 hole, confirming the flat lying nature of the mineralization with a dip of approximately 0.8 degrees. The Upper Bed was followed by a barren halite interval of 42 feet (12.8 m) before entering the Lower Bed, which also correlates well with the 41 feet (12.5 m) of barren halite between the Upper and Lower Cycle 18 beds at the Johnson 1 hole site.

Assay results also indicate that the potash interval at the Peterson 1 well location is also very clean with traces of carnallite and less than 1% insoluble materials, which compares positively with the purity of the deposit in this part of the Paradox Basin as evidenced in the original Johnson 1 hole.

Drill results from the Peterson 1 and Johnson 1 sites, along with regional gamma ray results from historical drill data and previously obtained 2D seismic data, indicate the Cycle 18 potash mineralization is open in all directions.

SAGE PLAIN PROJECT GRADE COMPARISON WITH WORLD DEPOSITS

Sage Plain Project contains one of the highest-grade potash resources in the world. The bar graph in Figure 4 below shows deposit grades of many large producing mines along with certain development stage projects around the world:

Figure 4. Potash deposit grades around the world (see endnote for information sources).

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Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Greg Vogelsang, P.Geo., P.Eng. a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Vogelsang is Vice President Project Development for the Company.

About Sage Potash Corp.

Sage Potash Corp. (TSXV: SAGE) (OTCQB: SGPTF) is dedicated to the development of its flagship Sage Plain Potash Project, located in the Paradox Basin, Utah. With a large and high-grade resource base, the Company is advancing toward its goal of establishing a secure and sustainable domestic potash production platform in the United States. Sage Potash is committed to food security, environmental stewardship, and creating value for shareholders and stakeholders alike.

On Behalf of the Board of Directors,

J. Patricio Varas, CEO and Director

1 (236) 521-1521

Website: www.sagepotash.com

For media inquiries, please contact:

Marcus van der Made, Investor Relations

IR@sagepotash.com

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.

Figure 4 Information Sources

Sources of information on other companies and projects used include: Millennial Potash Corp. (Banio Project Technical Report Nov. 11, 2025), Argentina Potash Corporation (company website referencing Agapito Associates NI 43-101 Dec 20, 2024), K+S Aktiengesellshaft (former owner Potash One Corp.’s Technical Report for Mineral Permit KP 289 Saskatchewan by Agapito Associates, Nov. 10, 2010), Uralkali (PJSC Uralkali Annual Report, April 24, 2024), Mosaic Company (Belle Plaine Technical Report, Dec. 31, 2024; Esterhazy resource grade from 2025 Annual Report), Brazil Potash Corp. (Autazes Project, S-K 1300 Technical Report Summary, Oct 14, 2021), Nutrien Ltd., (Nutrien’s 2025 AIF provides average grade mined over the 3-year period 2023 to 2025; Rocanville and Allan), Buffalo Potash Corp. (Disley Project, Technical Report April 15, 2026), Belaruskali, (JSC Belruskali entity website www:belaruskali.by/en/production), Gensource Potash Corporation (Tugaske Project, Technical Report, Oct. 14, 2021), Intrepid Potash Corp (Technical Report Summary of the 2023 Estimated Resources and Reserves at Intrepid Potash-Moab, Dec. 31, 2023), BHP (BHP Group Limited 2025 Annual Report; Jansen project).

Sage Potash Corp. resource information source (Sage Plain Technical Report, Sept 8, 2025 by RESPEC LLC).

Cautionary Note Regarding Forward-Looking Statements

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this news release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this news release includes, but is not limited to, statements with respect to future events or future performance of Sage Potash, including: the Peterson well allowing for a significant increase in the resource estimate and allowing for an upgrade in the quality of the resource for the project, the planned delivery of the new resource in 45 days, the planned delivery of a PFS, that the continuity, thickness and high grades of the potash beds demonstrate a world-class deposit that can be advanced rapidly toward production, that we expect the new resource to support a higher-capacity mine plan contemplating meaningful potash production in the United States, that scale should allow Sage to evaluate various mining methods and optimize a mine plan that leverages the very high-grade mineralization to target a high IRR and rapid payback, while pursuing a development larger than the 300,000 tonnes per year contemplated in the September 8, 2025 PEA.. 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 the Company’s 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, including, but not limited to, the risk factors set out under the heading “Risk Factors and Uncertainties” in the Company’s Management’s Discussion & Analysis available for review under the Company’s profile at www.sedarplus.ca. Such forward-looking information represents management’s best judgement based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316267

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Federal Reserve delivers warning to all Americans with a savings account: ‘There will be a reckoning.’ Are you ready?

Photo by Andrew Harnik / Getty Images

Jing Pan

Wed, September 23, 2026 at 6:35 AM EDT9 min read

Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.

Your savings account is supposed to be the safe place for your money. But a warning from the Federal Reserve raises an unsettling question: What if the danger never shows up on your bank statement?

On Sept. 16, Fed Chair Kevin Warsh delivered (1) a blunt assessment: “The plain fact is that inflation is too high, and has been for too long.”

His words came as the Fed raised its benchmark interest rate from 3.75% to 4.00% — the first hike in three years. The vote was unanimous.

Higher rates could offer better returns for savers, but banks still set their own deposit rates, meaning that if your account earns less than prices are rising, the balance can grow while its buying power shrinks.

Warsh isn’t the only Fed official sounding the alarm.

Asked about U.S. debt surpassing $40 trillion, Richmond Fed President Tom Barkin warned (2), “There will be a reckoning on this as it goes forward. No one can tell you when.” He added that investors would eventually stop buying the government’s debt.

Barkin was speaking about U.S. government borrowing. But Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, has described how this debt crisis could reach American savers.

“There won’t be a default — the central bank will come in and we’ll print the money and buy it,” he told CNBC (3) last year. “And that’s where there’s the depreciation of money.”

In other words, the government may never technically run out of dollars — but those dollars can lose value fast.

The long-term loss of buying power has already been stark. According to the Inflation Calculator (4) put out by the Federal Reserve Bank of Minneapolis, $100 in 2026 has the same purchasing power as just $11.61 did in 1970.

That’s right. $100 became less than $12 — despite decades of efforts by the Fed to keep rising prices in check.

For people keeping much of their nest egg in savings accounts, the danger is clear: If the interest they earn fails to keep pace, inflation can steadily erode the value of their money. That’s why Warsh’s warning matters to savers.

The good news? Throughout history, savvy investors have found ways to shield their wealth from inflation’s bite, whether the central bank succeeded in containing it or not.

Here’s a look at three time-tested strategies.

Own something the Fed can’t print

When it comes to preserving wealth and fighting inflation, few assets have stood the test of time like gold.

Its appeal is simple: Unlike fiat currencies, the yellow metal can’t be printed at will by central banks. This inherently limited supply can arguably help it store its value.

Gold is also considered the ultimate safe haven. It’s not tied to any one country, currency or economy, and in times of economic turmoil or geopolitical uncertainty, investors often flock to it — driving prices higher.

Dalio has repeatedly highlighted gold’s role in a resilient portfolio.

“People don’t have, typically, an adequate amount of gold in their portfolio,” he said in the same CNBC interview. “When bad times come, gold is a very effective diversifier.”

Other prominent voices see further potential. JPMorgan CEO Jamie Dimon has said that in this environment, gold can “easily” rise to $10,000 an ounce.

In fact, as inflation continued to chip away at the purchasing power of the dollar, gold has climbed around 150% (5) over the past five years.

You can combine the recession-resistant properties of the precious metal with the tax advantages of an IRA by opening a gold IRA with the help of Newport Gold.

Even better, you can get free setup, shipping and storage for up to three years with Newport Gold’s Liberty bundle to minimize some of those upfront costs. Plus, you can roll over an existing IRA or 401(k) into a precious metals IRA completely tax- and penalty-free.

Newport Gold also offers a streamlined buyback program with no fees, ensuring you can liquidate your holdings whenever needed, along with best-price assurance.

If you want to read more about their services, you can download their gold guide for free and get up to $20,000 in complimentary silver upon making a qualifying purchase. Just keep in mind that gold is typically best used as one part of an otherwise well-diversified portfolio.

Read More: Vanguard reveals what’s coming for U.S. stocks — and it could be bad news for this group of investors

A time-tested income play

Gold isn’t the only asset investors turn to during inflationary times. Real estate has also proven to be a powerful hedge.

That’s because when inflation rises, property values often increase as well, reflecting the higher costs of materials, labor and land. At the same time, rental income tends to go up, providing landlords with a revenue stream that adjusts for inflation.

Over the past 10 years, the S&P Cotality Case-Shiller U.S. National Home Price NSA Index (6) has jumped by 87%, reflecting strong demand and limited housing supply.

Of course, high home prices can make buying a home more challenging, especially with mortgage rates still elevated. And being a landlord isn’t exactly hands-off work — managing tenants, maintenance and repairs can quickly eat into your time (and returns).

The good news? You don’t need to buy a property outright — or deal with leaky faucets — to invest in real estate today. Platforms like mogul provide an easier way to get exposure to this income-generating asset class.

This real estate investment platform offers fractional ownership in blue-chip rental properties, giving its investors the monthly rental income, real-time appreciation and tax benefits of owning a property — without the need for a hefty down payment or late-night tenant calls.

Founded by former Goldman Sachs real estate investors, the team handpicks the top 1% of single-family rental homes nationwide for you, letting you gain access to institutional-quality offerings for a fraction of the usual cost.

Each property undergoes a rigorous vetting process, requiring a minimum 12% return even in downside scenarios. Across the board, the platform features an average annual IRR of 18.8%. Their cash-on-cash yields, meanwhile, average between 10% and 12% annually. Offerings often sell out in under three hours, with investments typically ranging between $15,000 and $40,000 per property.

Sign up for an account and browse available properties here to start investing today.

Diversify your real estate portfolio

Another option is to leverage multifamily real estate investing. The advantage of investing in multifamily real estate — which includes anything from duplexes and triplexes to apartment buildings — is that it can generate multiple income streams from one asset, offering a potentially more resilient cash flow.

In a report (7) prepared by JPMorgan, Al Brooks — the firm’s vice chair of Commercial Banking — said, “I think multifamily housing is absolutely where you want to be as an investor.”

Accredited investors can now tap into this opportunity through platforms such as Lightstone DIRECT, which gives accredited investors access to single-asset multifamily and industrial deals.

Lightstone DIRECT’s direct-to-investor model ensures a high degree of alignment between individual investors and a vertically-integrated, institutional owner-operator — a sophisticated and streamlined option for individual investors looking to diversify into private-market real estate.

With Lightstone DIRECT, accredited individuals can access the same multifamily and industrial assets Lightstone pursues with its own capital, with minimum investments starting at $100,000.

Warren Buffett’s inflation playbook

Investing legend Warren Buffett knows a thing or two about navigating inflation, having managed Berkshire Hathaway’s stock portfolio through the double-digit inflation of the 1970s. It would be fair to say he has developed plenty of insight into the types of businesses that can hold up when consumer prices surge.

In his 1982 letter to shareholders (8), Buffett pointed to two characteristics that can make a business especially resilient in an inflationary environment: the ability to increase prices easily and the ability to handle more business without requiring large amounts of new capital.

In other words, companies with strong pricing power and relatively modest capital needs can be better positioned to protect their profitability as costs rise.

That helps explain why the right stocks can serve as a long-term hedge against inflation. But Buffett has also made clear that you don’t need to be an expert in picking stocks to participate in the market’s growth.

“In my view, for most people, the best thing to do is own the S&P 500 index fund,” Buffett has famously said (9).

This approach gives investors exposure to 500 of America’s largest companies across a wide range of industries, providing instant diversification without the need for constant monitoring or active trading.

The beauty of this approach is its accessibility — anyone, regardless of wealth, can take advantage of it. Even small amounts can grow over time with tools like Acorns, a popular app that automatically invests your spare change.

Signing up for Acorns takes just minutes: All you have to do is link your cards, and Acorns will round up each purchase to the nearest dollar, investing the difference — your spare change — into a diversified portfolio.

With Acorns, you can invest in an S&P 500 ETF with as little as $5 — and, if you sign up today with a recurring investment, Acorns will add a $20 bonus to help you begin your investment journey.

Source: https://finance.yahoo.com/economy/policy/articles/federal-delivers-warning-americans-savings-103500121.html