Brightstar Resources (BTR:AU) has announced Merger Discussions Between Brightstar and Aurumin
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Sarama Resources (SRR:AU) has announced A$2.7m Equity Placement to Fund Laverton Drilling Campaign
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GTI Energy (GTR:AU) has announced A$4.5M Placement to Underpin Resource Growth Strategy
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Brightstar Resources (BTR:AU) has announced DFS Presentation
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It was a week of downward momentum for the gold price.
The yellow metal neared the US$3,400 per ounce level on Monday (June 23) as investors reacted to the weekend’s escalation in tensions in the Middle East, but sank to just above US$3,300 the next day.
The decline came as US President Donald Trump announced that Israel and Iran had agreed to a ceasefire. While the ceasefire has not gone entirely smoothly, with Trump expressing displeasure about violations, the news appeared to calm investors.
Gold’s safe-haven appeal took another hit toward the end of the week, when Trump said late on Thursday (June 26) that the US had signed a trade deal with China. Although details remain scarce — China’s commerce ministry confirmed the arrangement, but said little else — the gold price dropped on the news, closing Friday (June 27) at about US$3,274.
It was a different story for other precious metals this week.
Silver enjoyed an uptick, rising as high as US$36.79 per ounce before pulling back to the US$36 level. Whether it can continue breaking higher remains to be seen, but many experts are optimistic.
In fact, Randy Smallwood of Wheaton Precious Metals (TSX:WPM,NYSE:WPM) said that right now he’s perhaps more excited about silver than he is about gold. Here’s how he explained it:
There’s not a lot of new production coming on stream, just because most silver comes as a by-product from lead, zinc and copper mines — more than half of silver. And we’re just not seeing the investment into the base metals space that we need to sustain that production and grow that production.
As excited as I am about gold, I think silver’s got a few more fundamentals behind it that make it a pretty exciting time to be watching silver … silver’s got some catching up to do with respect to what gold’s done over the last few years.’
Watch the full interview with Smallwood for more on silver, as well as gold and platinum.
Speaking of platinum, it was also on the move this week, rising above US$1,400 per ounce.
The move has turned heads — despite a persistent supply deficit, platinum has spent years trading in a fairly tight range, and it hasn’t crossed US$1,400 since 2014.
Recent trends supporting platinum’s move include a shift toward platinum jewelry due to the high cost of gold, as well as larger platinum imports to the US earlier this year when tariff uncertainty was heating up. At the same time, miners have faced challenges.
‘This has led to tight forward market conditions,’ said Jonathan Butler of Mitsubishi (TSE:8058), ‘with a deep backwardation across the curve.’ In his view, these conditions will continue providing support for the precious metal in the coming weeks.
Bullet briefing — Gold repatriation, Rule Symposium
Germany, Italy to repatriate gold?
Germany and Italy are facing calls to bring home gold stored in the US.
According to the Financial Times, politicians and economists in the two countries are pushing for repatriation as a result of global geopolitical uncertainty, as well as concerns about Trump’s potential influence on the Federal Reserve as he continues to criticize Chair Jerome Powell.
‘We are very concerned about Trump tampering with the Federal Reserve Bank’s independence. Our recommendation is to bring the (German and Italian) gold home to ensure European central banks have unlimited control over it at any given point in time’ — Michael Jäger, Taxpayers Association of Europe
The news outlet calculates that German and Italian gold held in the US has a total value of about US$245 billion. Market participants agree that it would be a blow to relations with America if the countries were to bring their gold home at this time.
At least for now they seem unlikely to do so — although Italy’s central bank hasn’t commented, Germany’s Bundesbank said it sees the New York Fed as ‘trustworthy and reliable.’
Send your questions for the Rule Symposium
The Rule Symposium runs in Boca Raton, Florida, from July 7 to 11, and I’ll be heading there to interview Rick Rule, as well as Adrian Day, Lobo Tiggre, Andy Schectman, Dr. Nomi Prins and more.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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Statistics Canada released April’s gross domestic product (GDP) numbers on Friday (June 27). The data showed a slowing in the Canadian economy with a 0.1 percent monthly decline after it increased 0.2 percent in March as businesses attempted to get ahead of US tariff deadlines.
In April, the shift in US trade policy led to significant declines in the manufacturing sector, which saw its largest drop in four years at 1.9 percent. Durable goods manufacturing declined for the first time in four months, dropping 2.2 percent d. The most heavily impacted sub-sectors were transportation equipment and the auto sector, which fell 21.6 percent and 5.2 percent, respectively.
On the positive side, finance and insurance experienced growth of 0.7 percent, with investment services and funds contributing 3.5 percent growth to the sector. StatsCan indicated that the US tariff announcement on April 2 led to increased selling activity in Canadian equity markets.
The Canadian resource sector was flat overall during the month. The oil and gas extraction, excluding oil sands, fell 1.1 percent in April, while oil sands extraction remained unchanged. The agency said that higher bitumen extraction was offset by lower synthetic crude production. Additionally, a temporary shutdown in the Keystone pipeline due to a rupture contributed to a decline in activity.
However, losses were offset by a 4.8 percent gain in support activities for the mining and oil and gas extraction subsectors, with an increase in rigging and drilling activities.
While some of the month-over-month decline was due to the increase in output in March, StatsCan suggests that further slowing is on the way. The agency reported that advanced figures for May show a further 0.1 decline, noting a decrease in the mining, quarrying, and oil and gas extraction category.
South of the border, the US Bureau of Economic Activity released May’s personal consumption expenditures price index (PCE) data on Friday. The index is a key inflation indicator and is the preferred measure used by the Federal Reserve when making its rate decision. The central bank has held its current rate at the 4.25 to 4.5 percent range since it last lowered it in November 2024.
The report shows inflation ticked up 2.3 percent on an annualized basis, higher than the 2.2 percent recorded in April. The increase came after two consecutive months of slowing from 2.7 percent in February and 2.3 percent in March.
Less the more volatile food and energy categories, PCE gained 2.7 percent during the period. While costs for goods increased, current-dollar personal income was down 0.4 percent and disposable income fell 0.6 percent.
US President Donald Trump again signaled his displeasure with the slow pace of rate cuts earlier in the week, and with the Wall Street Journal reporting on Wednesday (June 25) that he may announce a replacement for Chairman Jerome Powell as early as this summer.
While it’s unclear if he will try to remove Powell from the post, the president may try to create a “shadow Fed” that could work to influence markets and undermine decisions made by the current chairman. Powell’s term as chairman is set to expire in May 2026, while his time as board governor won’t end until 2028. His removal would require an act of Congress.
Markets and commodities react
In Canada, major indexes ended the week up. The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 0.77 percent during the week to close at 26,687.14 on Friday. The S&P/TSX Venture Composite Index (INDEXTSI:JX) fared better, gaining 1.47 percent to 724.26, while the CSE Composite Index (CSE:CSECOMP) climbed 0.74 percent to 117.39.
US equities were also in positive territory this week, with the S&P 500 (INDEXSP:INX) gaining 3.41 percent to close at a record high of 6,173.08, the Nasdaq-100 (INDEXNASDAQ:NDX) surging 4.17 percent to its own all-time high of 22,534.20. While it didn’t break its previous high, the Dow Jones Industrial Average (INDEXDJX:.DJI) also climbed significantly, up 3.89 percent to 43,819.26.
On the other hand, the gold price declined this week, falling 2.8 percent to US$3,274.15 by Friday at 4 p.m. EDT. The silver price ended the week down just 0.05 percent at US$35.99.
In base metals, the COMEX copper price surged 5.59 percent over the week to US$5.12 per pound. Prices have been rising due to increased purchases ahead of US tariffs and significant drawdowns of inventories in London Metals Exchange warehouses.
Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) lost 6.07 percent to close at 545.71.
Top Canadian mining stocks this week
How did mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Canadian mining stocks below.
Stock data for this article was retrieved at 4 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
1. Onyx Gold (TSXV:ONYX)
Weekly gain: 121.28 percent
Market cap: C$106.84 million
Share price: C$2.08
Onyx Gold is an exploration company advancing its Munro-Croesus project, located near Timmins in Ontario, Canada. The company has increased the size of the land package by 200 percent between 2020 and 2025, and the project now covers an area of 109 square kilometers.
Munro-Croesus hosts the historic Croesus mine, which produced 14,859 ounces of gold between 1915 and 1936 with an average grade of 95.3 grams per metric ton (g/t). Onyx is the first company to explore the property since the mine closed.
Shares in Onyx have seen gains in recent weeks as it made several investment and project announcements.
The first came on June 12, when the company announced that it had completed a private placement with Windfall Mining, a subsidiary of Gold Fields (NYSE:GFI), which purchased 9.4 percent of Onyx’s issued and outstanding shares. Onyx said the investment is an endorsement of its long-term vision.
As for this week, on Tuesday (June 24), Onyx announced that it signed a mineral property purchase and sale agreement to acquire a 100 percent interest in the Munro and Hewitt properties, both located near the existing Munro-Croesus project. The acquisition will expand the company’s land package to 109 square kilometers from the previous 95 square kilometers.
In its most recent update on Thursday (June 26), the company reported the first drill results from its 10,000 meter spring drill program at the Argus North zone at Munro-Croesus. One highlighted assay contained 1.8 grams per metric ton (g/t) gold over 91 meters, including 4 g/t over 32 meters and 5.3 g/t over 17 meters.
The company said the results demonstrate the continuity of broad zones of high-grade gold mineralization. It added that mineralization was confirmed along strike and that the zone is still open in all directions.
2. US Copper (TSXV:USCU)
Weekly gain: 83.33 percent
Market cap: C$14.5 million
Share price: C$0.11
US Copper is an exploration company working to advance its Moonlight-Superior project in Northeast California, United States.
The project covers approximately 13 square miles of patented and unpatented federal mining claims in the Lights Creek Copper District, near the Nevada border.
A preliminary economic assessment released on January 6 demonstrated a post-tax net present value of US$1.08 billion with an internal rate of return of 23 percent and a payback period of 5.3 years, assuming a copper price of US$4.15 per pound.
The included mineral resource estimate shows a total indicated resource of 2.5 billion pounds of copper, 21.7 million ounces of silver and 140,042 ounces of gold from 402.83 million metric tons of ore with a grade of 0.31 percent copper, 1.85 parts per million (ppm) silver and 0.012 ppm gold. The majority is hosted at its Moonlight and Superior deposits.
Although the company did not release news this week, its shares have seen significant gains alongside a rising price of copper.
3. ArcWest Exploration (TSXV:AWX)
Weekly gain: 68.42 percent
Market cap: C$11.21 million
Share price: C$0.16
ArcWest Exploration is an exploration company that has most recently been working to advance its Todd Creek and Oweegee Dome properties within the Golden Triangle in British Columbia, Canada.
The Todd Creek property is a 21,343 hectare site that adjoins Newmont’s (TSX:NGT,NYSE:NEM) Brucejack property and hosts widespread copper and gold mineralization. Historical exploration of the site yielded grab samples with up to 37.7 g/t gold and 5.3 percent copper. The project is covered by a March 2023 earn-in agreement with Freeport-McMoRan (NYSE:FCX) that could see Freeport earn a 51 percent stake, with C$20 million in investments over a five year period.
The 31,077 hectare Oweegee Dome property is located 34 kilometers northeast of the Brucejack mine and hosts underexplored copper and gold systems, including Delta and Skowill East. Oweegee Dome is covered by a July 2021 option agreement with Sanatana Resources (TSXV:STA). Under the terms of the agreement, Sanatana can earn an initial 60 percent interest in the property through cumulative exploration investments of C$6.6 million over four years.
Shares in ArcWest gained this week after a pair of announcements.
The first came on Wednesday, when the company reported results from a 2024 drill program, funded and operated by Sanatana, that extended the mineralized zone at Oweegee Dome. Sanatana President Buddy Doyle said, “We now think the alteration and mineralization we see at surface at Delta is only the southeast corner of a larger system.”
The other news was released on Thursday, when it announced it had mobilized for a drill program at Todd Creek. The program will receive a minimum of C$4 million in funding from Freeport-McMoRan.
4. Belo Sun (TSXV:BSX)
Weekly gain: 62.79 percent
Market cap: C$163.35 million
Share price: C$0.35
Belo Sun Mining is an exploration and development company focused on advancing its Volta Grande gold project in Brazil.
The property covers approximately 2,400 hectares within the Tres Palmeiras greenstone belt in Para State, Brazil. The company has been working on the project since 2003, and acquired necessary development permits in 2014 and 2017.
A 2015 mineral reserve estimate demonstrated a proven and probable reserve of 3.79 million ounces of gold from 116 million metric tons of ore with an average grade of 1.02 g/t.
Development at the site stalled in 2018 after a federal judge ruled that the Federal Brazilian Institute of the Environment (IBMA) would be the competent authority for issuing environmental permits. The decision was overturned in 2019 with the Secretariat of Environment and Sustainability of the State of Para (SEMAS) reassuming its permitting authority. The decision was once again reversed in September 2023, returning authority to IBMA.
On January 23, Belo Sun announced that the Federal Court of Appeals had reassigned SEMAS as the permitting authority for the Volta Grande project. The company said it was pleased with the decision, as the agency is familiar with the project and enjoys a constructive and transparent relationship with it.
On Monday (June 23), the company announced shareholders approved a renewal of the company’s governance structure and elected four new directors to the board. Four of the board’s six members are now either Brazilian or have spent significant parts of their careers working in Brazil.
5. Reyna Silver (TSXV:RSLV)
Weekly gain: 52.94 percent
Market cap: C$33.05 million
Share price: C$0.13
Reyna Silver is a silver exploration company with a portfolio of assets in Chihuahua, Mexico, and Nevada, US.
One of its two Mexican assets is Guigui, a 4,750 hectare property covering a significant portion of the Santa Eulalia Mining District. The area has a history of mining dating back to the 1700s with production of almost 450 million ounces of silver between then and 2001.
Its other one is Batopilas, a 1,183 hectare site that covers 94 percent of the Batopilas Mining District, which has significant deposits of pure, native silver. Historic mining at the site produced an estimated 200 million to 300 million ounces of silver dating back to the mid-1600s.
Its primary American asset is the Gryphon Summit project located along the Carlin-trend. The project covers an area of 10,300 hectares and is prospective for gold, silver and critical minerals.
It also owns the Medicine Springs project, which spans 4,831 hectares south of Elko City. Previous exploration at the site identified lead, zinc and silver mineralization.
Shares in Reyna gained this week after it entered into a definitive agreement to be acquired by Torex Gold (TSX:TXG).
The deal, valued at US$26 million, will see Torex acquire all issued and outstanding common shares in Reyna, thereby gaining access to its wholly owned Mexican portfolio. Additionally, Torex will have the option to acquire a 70 percent stake in the Gryphon Summit project and a 100 percent interest in Medicine Springs.
FAQs for Canadian mining stocks
What is the difference between the TSX and TSXV?
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
How many mining companies are listed on the TSX and TSXV?
As of February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 companies, with 181 of those being mining companies.
Together the TSX and TSXV host around 40 percent of the world’s public mining companies.
How much does it cost to list on the TSXV?
There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.
The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.
These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.
How do you trade on the TSXV?
Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.
Article by Dean Belder; FAQs by Lauren Kelly.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
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Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) (‘Freegold’ or the ‘Company ‘) is pleased to announce that all matters set out in the Management Information Circular dated May 26 2025 for the 2025 Annual General and Special Meeting of Shareholders held on June 27, 2025 (the ‘Meeting’) were approved by the shareholders holding 98,154,137 shares were voted representing approximately ~ 18.56% of the outstanding shares of the Company.
The following nine nominees were elected as directors of Freegold. The detailed results of the vote for the election of directors are set out below:
|
MOTIONS |
NUMBER OF SHARES |
PERCENTAGE OF VOTES CAST |
||||
|
FOR |
AGAINST |
WITHHELD/ |
FOR |
AGAINST |
WITHHELD/ |
|
|
To elect as Director :Kristina Walcott |
96,353,303 |
1,800,834 |
98.165 % |
1.835 % |
||
|
To Elect as Director: Alvin Jackson |
97,016,593 |
1,137,544 |
98.841 % |
1.159 % |
||
|
To Elect as Director: David Knight |
85,790,018 |
12,364,119 |
87.403 % |
12.597 % |
||
|
To Elect as Director: Garnet Dawson |
97,308,977 |
845,160 |
99.139 % |
0.861 % |
||
|
To Elect as Director: Ron Ewing |
96,839,477 |
1,314,660 |
98.661 % |
1.339 % |
||
|
To Elect as Director: Glen Dickson |
85,396,927 |
12,757,210 |
87.003 % |
12.997 % |
||
|
To Elect as Director: Reagan Glazier |
79,513,338 |
18,640,799 |
81.009 % |
18.991 % |
||
|
To Elect as Director: Maurice Tagami |
97,900,807 |
253,330 |
99.742 % |
0.258 % |
||
|
To Elect as Director: Vivienne Artz |
93,614,569 |
4,539,568 |
95.375 % |
4.625 % |
||
The Company’s shareholders approved the appointment of Davidson & Company LLP, Chartered Professional Accountants, as the Company’s auditors, as set forth in the management information circular.
The Company’s shareholders approved the Company’s new omnibus equity incentive plan.
Each of the matters voted upon at the Meeting is discussed in detail in the Company’s Information Circular dated May 26 th, 2025, which is filed under the Company’s profile at www.sedarplus.com.
Golden Summit Project Update:
Drilling at Golden Summit is progressing well. Drilling is focused on resource definition, which includes both expansion and infill drilling, as well as geotechnical and metallurgical holes. Like the 2024 drill program, the current efforts aim to upgrade inferred resources to indicated status in preparation for the upcoming pre-feasibility study, which is expected to commence later this year. An updated mineral resource estimate is expected to be finalised soon, and the initial assay results from the 2025 drill program are also anticipated shortly.
The Qualified Person for this release is Alvin Jackson , P.Geo., Vice President of Exploration and Development for Freegold, who has approved the scientific and technical disclosure in this news release.
About Freegold Ventures Limited
Freegold is a TSX-listed company focused on exploration in Alaska . It holds the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood through leases.
Some statements in this news release contain forward-looking information, including, without limitation, statements as to planned expenditures and exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report, and any other future plans. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programs on schedule, and the success of exploration programs. See Freegold’s Annual Information Form for the year ended December 31st, 2024 , filed under Freegold’s profile at www.sedar.com , for a detailed discussion of the risk factors associated with Freegold’s operations. On January 30, 2020 , the World Health Organization declared the COVID-19 outbreak a global health emergency. Reactions to the spread of COVID-19 continue to lead to, among other things, significant restrictions on travel, business closures, quarantines, and a general reduction in economic activity. While these effects have been reduced in recent months, the continuation and re-introduction of significant restrictions, business disruptions, and related financial impact, and the duration of any such disruptions cannot be reasonably estimated. The risks to Freegold of such public health crises also include employee health and safety risks and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak. Such public health crises, as well as global geopolitical crises, can result in volatility and disruptions in the supply and demand for various products and services, global supply chains, and financial markets, as well as declining trade and market sentiment and reduced mobility of people, all of which could affect interest rates, credit ratings, credit risk, and inflation. As a result of the COVID-19 outbreak, Freegold has implemented a COVID management program and established a full-service Camp at Golden Summit to attempt to mitigate risks to its employees, contractors, and community. While the extent to which COVID-19 may impact Freegold is uncertain, it is possible that COVID-19 may have a material adverse effect on Freegold’s business, results of operations, and financial condition.
SOURCE Freegold Ventures Limited
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2025/27/c9322.html
News Provided by Canada Newswire via QuoteMedia
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The platinum price surged above US$1,400 per ounce during Thursday (June 26) morning trading, reaching its highest level in 11 years amid a wave of speculative buying in the US and China.
In the US, industrial demand for the metal is rising as American carmakers scale back their electrification plans. At the same time, new policies are set to walk back consumer subsidies for electric vehicles.
These Trump administration mandates are expected to result in increased demand for traditional internal combustion engines or hybrid vehicles, which require higher platinum loadouts.
Tariff fears have also had an effect, with 500,000 ounces of platinum transferred to US warehouses.
Meanwhile, Chinese jewelry fabricators have been seeking at platinum as they shift away from gold, which continues to trade at record-high prices. In April, platinum imports to China surged to more than 10 metric tons.
Palladium was also up on Thursday, breaking the US$1,100 per ounce mark for the first time in 2025.
Platinum price, June 19 to June 26, 2025
In addition to demand factors, platinum supply has been impacted by reduced output at South African mines, which are facing energy disruptions, aging infrastructure and underinvestment in new operations.
The platinum market is expected to record its third consecutive deficit in 2025 at 966,000 ounces.
But it’s not just platinum fundamentals that are impacting the price. Thursday’s gains came alongside a dip in the US dollar index, which sank more than half a percent during the day’s trading session.
The index fell to 97.13, its lowest level since 2022, indicating weaker sentiment for the US dollar, following the release of the US Bureau of Economic Analysis’ third GDP revision revision for the first quarter of 2025.
The data shows that the US economy contracted by 0.5 percent, following a growth rate of 2.4 percent in the final quarter of 2024. The number is significantly different than the 0.3 percent decline reported in the advanced estimate and the 0.2 percent outlined in the second revision. The agency attributes the change to an increase in imports as US businesses increased their inventories to prepare for tariffs proposed by the Trump administration.
The drop in the US dollar index also follows comments made by President Donald Trump this week, indicating that he may look to replace Federal Reserve Chair Jerome Powell as soon as September or October. Powell’s term as head of the central bank is set to expire in May 2026, and his role as governor is due to end in 2028.
Trump has railed against Powell since the start of his term, suggesting the central bank leader has moved too slowly in cutting interest rates. Whether Trump can remove Powell remains to be seen, as the president would need the consent of Congress to carry out such a move.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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“(Lithium) is not for the faint-hearted. It demands resilience, foresight and leadership,” said Pilbara Minerals (ASX:PLS,OTC Pink:PILBF) Managing Director and CEO Dale Henderson.
He was speaking at Fastmarkets’ Lithium Supply & Battery Raw Materials Conference, held this week in Las Vegas.
Henderson touched on three main points: current lithium market dynamics, how Pilbara Minerals is navigating the lithium landscape and his recommendations for the global lithium industry.
Lithium’s strong long-term fundamentals
Henderson began by going over key numbers relevant to the lithium sector. According to the CEO, there was a 26 percent year-on-year increase in demand for electric vehicles (EVs) from 2023 to 2024.
Lithium plays a vital role in the production of EVs, as it is a key component of the batteries that power them.
Alongside that EV demand increase, mass energy storage also saw a 51 percent leap.
“I don’t think there’ll be any deniers around the long-term prospects of lithium, but it’s worth reflecting on how quickly it’s changing,’ Henderson told the Fastmarkets audience.
Henderson speaks on stage at the Fastmarkets event.
Image via Georgia Williams.
Looking at areas connected to lithium, Henderson mentioned solar, saying it now surpasses all power-generation technology investment combined. Solar falls under the clean energy umbrella, which receives more than $2.2 trillion in investment per year — twice the amount of investment made in fossil fuels.
“We are witnessing and (are) part of an incredible period. Technology, policy (and) consumer sentiment can continue to drive what is a structural shift towards electrification,’ he said. ‘Lithium remains at the center of this shift.’
The paradox, according to Henderson, is that while scaling up is happening, prices have been cycling down.
“We’re 12 months into a period of curtailments and reset. And where we are now — we sit deep into the cost curve with price levels, of course, at unsustainable levels for many operators,’ he noted.
‘But these cycles, or these resets, offer a fantastic reset for market, albeit they’re painful.”
The Pilbara CEO emphasized that while lithium prices have fallen to “clearly unsustainable” levels, the long-term demand and strategic relevance of lithium will survive it.
“This is not a short-term trend. This is a structural transformation, and lithium remains at core.”
Pilbara Minerals’ lithium strategy
Looking over to Pilbara Minerals, Henderson went over its recent achievements and future plans.
“We’re keeping our lives absolutely committed to our strategy,” he said about the company, adding that the past year was Pilbara Minerals’ “most transformational year for business.”
Highlights from the period include the acquisition of Latin Resources and its flagship Salinas lithium project in Brazil, which was announced in August 2024 and closed this past February.
The CEO also discussed the company’s flagship Pilgangoora operation, which he described as a globally significant tier-one lithium asset with a mine life of 33 years. Pilgangoora is located 140 kilometers from Port Hedland in Western Australia and is one of the world’s largest hard-rock lithium operations.
Pilbara Minerals has completed two expansions, including the buildout of the world’s largest hard-rock ore-sorting plant, which aims to improve lithium recovery, increase final product quality and reduce energy consumption.
In addition to that, Henderson said Pilbara Minerals boosted its reserves by 23 percent last year.
Furthermore, the company became a lithium hydroxide producer via its partnership with POSCO Holdings (NYSE:PKX,KRX:005490), and is working on a demonstration plant for its midstream project.
In January, the Western Australian government’s Investment Attraction Fund contributed AU$15 million for work at the plant, which is a joint venture with Calix (NYSE:CALX,ASX:CXL).
Henderson said the demonstration plant is currently under construction.
Last year, Pilbara Minerals contributed approximately 8 percent to global lithium supply. The company’s cash balance currently stands at AU$1.1 billion.
Lithium industry must align for success
According to Henderson, certainty and efficient operations are everything in today’s lithium market.
“Government policy is forcing change, both in sticks and carrots, and supply chain diversification is underway, but largely the processing remains very much concentrated,’ he said.
Henderson highlighted coordination and collaboration as key points, saying that thriving in this environment means building deeper integration across the supply chain.
Lithium industry challenges and opportunities.
Chart via Pilbara Minerals.
He added that the lithium industry is not the first sector to grow from a small base and has yet to mature on a number of dimensions. Henderson summarized his key recommendations into four points:
- Support a central and efficient spot market trading location
- Put a trusted futures exchange in place
- Align on specifications across the lithium product site
- Align on standardized trading terms
He also presented a list of challenges and corresponding opportunities regarding the lithium market, saying that while there’s a lot of pain in the industry, it’s also the time for great partnerships to be forged.
“This industry will evolve with or without our stewardship. This is a call to leadership across our group,” he concluded. “The challenge is ours. The opportunity is real. Let’s build it together and turn this market pain into a strategic avenue.”
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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Rio Silver Inc. (the ‘Company’ or ‘Rio Silver’) (TSX.V: RYO) (OTC: RYOOF) announces that, further to the announcement on May 1, 2025, it will consolidate (the ‘Consolidation’) its common shares on the basis of five pre-Consolidation common shares for one post-Consolidation share.
The Company expects that the TSX Venture Exchange (the ‘Exchange’) will issue a bulletin in short order, confirming that the Company’s common shares will then commence trading on a post-Consolidation basis effective on or about the opening of trading on Thursday, July 3, 2025. There will be no change to the Company’s name or trading symbol. The new CUSIP and ISIN numbers for the post-Consolidation shares are 76721A113 and CA76721A1131, respectively.
No fractional common shares will be issued, and fractions of less than one-half of a common share will be cancelled and fractions of at least one-half of a common share will be converted to a whole common share. Outstanding options, warrants and other convertible securities will likewise be adjusted for the Consolidation, with the number of underlying common shares and exercise prices being adjusted accordingly.
The Company currently has 84,832,845 common shares issued and outstanding, and immediately following the Consolidation the Company expects to have, subject to rounding adjustment, approximately 16,966,572 common shares issued and outstanding, none of which are subject to escrow.
Letters of Transmittal will be mailed shortly to registered shareholders who hold share certificates, with instructions for the exchange of existing share certificates for new share certificates. Shareholders holding uncertificated shares (such as BEO, NCI and DRS positions) will have their holdings adjusted electronically by the Company’s transfer agent and need not take any further action to exchange their pre-Consolidation shares for post-Consolidation shares.
The Company expects that the Consolidation will provide the Company with increased flexibility in structuring and completing financings and potential business transactions. Shareholder approval for the Consolidation was received at the Company’s Annual General and Special Meeting of Shareholders held on June 12, 2025, as previously announced on June 25, 2025.
ON BEHALF OF THE BOARD OF DIRECTORS OF Rio Silver INC.
Chris Verrico
Director, President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
For further information,
Christopher Verrico, President, CEO
Tel: (604) 762-4448
Email: chris.verrico@riosilverinc.com
Website: www.riosilverinc.com
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required by applicable laws.
News Provided by GlobeNewswire via QuoteMedia
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