Basin Energy (BSN:AU) has announced Significant Mineralisation Confirmed In Sweden
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Morgan Stanley (NYSE:MS) recently recommended that investors consider a 60-20-20 portfolio where 20 percent is allocated to gold.
Rich Checkan, president and COO of Asset Strategies International, crunches the numbers, explaining what that type of shift could mean for the yellow metal.
He also shares his thoughts on gold and silver’s ongoing price run.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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Copper prices were volatile during Q3, swinging to record highs of US$5.81 per pound on the COMEX.
The movement was fueled by traders importing copper products into the US following President Donald Trump’s tariff announcement on July 8. However, prices fell in early August as the White House clarified its plans.
Since then, copper has reverted to being driven largely by its usual supply/demand fundamentals.
What happened to the copper price in Q3?
Copper prices opened the quarter at US$5.05, but quickly gained strength on the back of tariff fears, rising to US$5.65 on July 8. With little information about specifics, prices continued to rise — as mentioned, COMEX copper hit an all-time high of US$5.81 on July 23, but quickly plummeted to US$4.40 per pound by July 31.
At the start of August, copper prices saw further declines, reaching a quarterly low of US$4.37 on August 5. From there, prices hovered around the US$4.40 to US$4.50 range for the rest of the month and into September.
Copper price, July 1 to October 17, 2025.
Chart via TradingEconomics.
At the start of September, copper experienced some upward momentum, but really took off in the middle of the month as supply fundamentals took over. By the end of September, prices were closing back in on US$5.
Since the end of the quarter, the copper market has continued to gain strength, with prices breaking through US$5 on October 3 and rising to US$5.11 on October 9.
US copper tariffs stoke price volatility
The big story to start the quarter was the Trump administration’s copper tariff announcement on July 8.
The news came after months of speculation following the government’s February launch of an investigation into how tariffs could be used to bolster national security under Section 232 of the Trade Expansion Act.
Copper market participants were caught off guard by the timing, as some had expected the tariffs to come later in the year, and at a lower rate than the announced 50 percent. Traders began importing copper into the US from abroad ahead of the implementation of the tariffs, and the increased volume drove prices for the metal to record highs by the end of the month; it also created a significant disparity between the COMEX and the London Metal Exchange (LME).
“The announcement of a 50 percent tariff on copper imports in early July created extreme volatility in the US copper market, triggering a surge in physical shipments into the country as buyers rushed to get ahead of the duty. This buying drove COMEX futures sharply higher and pushed the US premium over LME prices to an unprecedented 30 percent.’
White explained that during a copper short squeeze on the COMEX in 2024, copper premiums peaked at 8 percent; he also noted that the five year average for the COMEX-LME disparity is near parity at 0.5 percent.
Ultimately, copper tariffs were only applied to unrefined copper, as well as semi-finished and copper-intensive derivatives, such as pipe fittings, cables, connectors and electrical components.
Refined copper tariffs will be phased in at 15 percent in 2027, and 30 percent in 2028. The move essentially pulled the rug out from under traders, causing COMEX prices to plummet by nearly 25 percent.
White stated that with the tariff situation cleared up, copper prices once again reflected the underlying supply and demand fundamentals of low inventories and high demand resulting from the energy transition.
“These structural forces pushed copper prices internationally higher overall for the quarter, despite the mid-summer volatility. The tariff episode reinforced copper’s strategic importance and highlighted the fragility of global supply chains, factors that may strengthen the case for higher prices going forward,” he said.
Copper faces supply-side disruptions
According to the International Copper Study Group’s copper market forecast, released on October 7, refined copper is expected to record a 178,000 metric ton surplus in 2025, significantly lower than the 209,000 metric ton surplus predicted in April. However, the group expects a 150,000 metric ton deficit in 2026.
The reason for the group’s downward revision is supply disruptions at Ivanhoe Mines’ (TSX:IVN,OTCQX:IVPAF) Kamoa-Kakula operation in the Democratic Republic of Congo, and at Freeport-McMoRan’s (NYSE:FCX) Grasberg mine in Indonesia. The assets are two of the world’s largest copper mines.
Kamoa-Kakula was temporarily shut down in May following a seismic event at the mine. While some operations began to ramp up again in June, Ivanhoe has revised its midpoint guidance down to 395,000 metric tons for 2025 after initially expecting 550,000 metric tons; it has also withdrawn the 600,000 metric tons expected in 2026.
At Grasberg, a liquid material ingress in early September killed seven workers and forced the suspension of operations. In a release on September 24, Freeport said consolidated copper sales across its operations will decline by 4 percent during Q3, but was unable to provide estimates for the fourth quarter.
The Grasberg site encompasses several underground mines: the Grasberg block cave, the Deep Mill Level Zone (DMLZ) and Big Gossan. DMLZ and Big Gossan were not affected, and could restart production in the fourth quarter.
However, according to Freeport, a preliminary assessment indicates a delayed restart of operations at the Grasberg block cave, resulting in the deferral of significant production in the near term. A ramp up in this area is not anticipated to begin until the first half of 2026, with the mine potentially returning to full production in 2027.
“This single event has pushed 2025 mine disruptions to 6 percent of global supply, above the historical average of 5 percent, and turned a near-balanced market into a clear deficit,’ White said.
‘With inventories already at multi-year lows and scrap unable to fully bridge the gap, the supply side offers little cushion. This tightening dynamic suggests higher prices may be necessary to incentivize new projects.’
Copper price forecast for 2025
Although some headwinds remain, primarily stemming from a worsening trade standoff between the US and China, copper’s future is likely tied to its fundamental supply and demand dynamics.
With little new supply scheduled to come online in the near term, this should signal more support for pricing as demand continues to grow from the energy transition and key sectors, such as artificial intelligence and data centers.
“On the demand side, copper’s growth drivers remain firmly in place. Electrification, grid modernization, artificial intelligence and data center buildouts and defense spending continue accelerating, making copper less tied to broad GDP growth and more linked to strategic sectors. These trends, combined with a deepening supply deficit, reinforce the structural bull case for copper,” White explained. He also suggested that any further disruptions will only add tailwinds to the copper price, benefiting producers and investors alike.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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The silver price surged during Q3, climbing to near-record highs before surpassing them at the start of Q4.
The white metal was influenced by many of the same factors as gold, including interest rate cuts from the US Federal Reserve, global economic uncertainty and safe-haven buying from investors.
Silver is also facing a supply deficit that has provided further tailwinds on the back of industrial demand.
What happened to the silver price in Q3?
Silver started the third quarter near year-to-date highs at US$36.03 per ounce.
Momentum took it to what was then a 2025 high of US$39.30 by July 22, but following that gain, the price began to retreat toward the US$36 level, ending at US$36.72 on July 31.
Silver regained some ground at the start of August, but was largely rangebound, trading around the US$38 mark. However, after Fed Chair Jerome Powell’s remarks at the Jackson Hole Economic Policy Symposium at the end of the month, the precious metal began a steady rise toward the end of the quarter.
Silver price, July 1 to October 17, 2025.
Chart via Trading Economics.
Silver broke the US$40 mark on September 1, then continued on up, rising to US$42.69 on September 15.
By September 30, it was closing in on all-time highs, reaching US$46.66. As the fourth quarter began, the price continued to climb, reaching an all-time high of US$54.47 on October 17.
Silver’s industrial demand drivers
Silver’s price gains over the past few years have been driven partially by increasing demand from industrial segments, where the metal has various applications, including in the production of photovoltaics (PVs).
An April report from the Silver Institute notes that industrial demand for silver increased for the fourth year in a row in 2024, rising 4 percent and setting a record of 680.5 million ounces.
The rise was attributed mainly to the green economy, which includes PVs, and artificial intelligence (AI).
Although the institute isn’t forecasting gains for 2025, it’s still predicting that silver industrial demand will remain near record levels, at 677.4 million ounces, with 195.7 million ounces coming from PVs.
A key reason for the high demand for solar energy is that production costs have made it more competitive than coal, gas or wind. This has increased the attractiveness of PVs for use in data centers.
Speaking at the Metals Investor Forum in Vancouver, BC, at the end of September, Peter Krauth, editor of Silver Stock Investor and author of ‘The Great Silver Bull,’ discussed the staggering rise in demand for solar energy and noted that during the 2010s, deployment exceeded expectations by 200 percent.
“Data center power demand over the next four years is expected to grow 21 percent, and AI is expected to see a 33 percent annual growth in electricity demand over the next four years,” he said.
He explained that tech companies favor solar over wind three-to-one, and nuclear at a rate of five-to-one. That’s because solar is not only cheaper than other energy forms, but also faster to permit, as long as space is available.
While PVs remain a strong demand driver for silver, it’s not the only one.
“Silver, after oil, is the commodity with the single most applications worldwide,’ said Krauth.
‘So when you say silver is indispensable, it’s irreplaceable in some ways. It has so many applications that if silver were to disappear tomorrow, it would wreak havoc on a lot of industry,’ he continued.
“Silver’s main growth driver is industrial usage. Especially when it comes to electric cars and batteries, silver is nearly irreplaceable,” she said. However, she also noted risks coming from the US and its ability to influence the global market, suggesting that with high uncertainty, commodities can be unpredictable. Additionally, Khandoshko pointed to market saturation in the tech sector, suggesting tailwinds may not be what they once were.
“The technology market is on the verge of a breakthrough, but at the same time, it is close to saturation, and the potential for a sharp increase in demand is limited. As a result, I would say that it is not worth expecting rapid leaps from silver, although for now the metal is in plus,” she said.
Silver benefiting from investment demand
Although industrial components have grown in the past few years, they aren’t the only factor that drove silver during the third quarter. Investment demand also helped push it toward record highs.
In a July report, the Silver Institute states that as of June 30, 1.13 billion ounces of silver were held in exchange-traded products, 7 percent below the all-time high set in February 2021. It attributes the rise in silver investment to geopolitical tensions and economic uncertainty as more investors turn to silver as a safe-haven asset.
Additionally, many investors view silver as undervalued compared to gold.
Since 2000, the gold-silver ratio has averaged 69:1; however, in 2025, it has been significantly higher, reaching 104:1 in May. Although it has fallen, the ratio remains above the 25 year average, reaching 79:1 in October.
“If you take US$3,700 (per ounce) gold today, and you use the average going back to 2000, that puts you already at US$54. So we’re beyond that all-time high of silver potentially pretty easily just based on that ratio,” Krauth said.
He added that he expects the gold price to continue climbing, pushing up the potential for an even higher silver price if it approaches that 69:1 average.
Silver price forecast for 2025
As suggested by the Silver Institute, Krauth and Khandoshko, silver is supported not only by supply and demand fundamentals, but also by tailwinds on the investment side.
In his talk, Krauth suggested that US$95 isn’t out of the question for silver over the next 12 to 24 months. He also said that silver producers are likely to benefit from the metal’s increasing price.
“When money starts to flow into the silver stocks, the impact can be really massive,’ he said.
‘If you take the bottom essentially of the last year and a half since late February 2024, silver’s up 105 percent and silver stocks, juniors are up 183 percent so far,’ added Krauth. Although it is difficult to predict how long a cycle will last, Krauth looked to the past and suggested there could still be significant runway ahead.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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Brightstar Resources (BTR:AU) has announced High-grade gold assays returned in Menzies DD drilling
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Not for distribution to United States newswire services or for dissemination in the United States
Fortune Bay Corp. (TSXV: FOR,OTC:FTBYF) (FWB: 5QN) (OTCQB: FTBYF) (‘Fortune Bay’ or the ‘Company’) is pleased to announce that it has entered into an agreement with Cormark Securities Inc., as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters (collectively, the ‘Underwriters’) in connection with a ‘bought deal’ private placement of: (i) 1,438,900 common shares of the Company that will qualify as ‘flow-through shares’ (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the ‘FT Shares’), at a price of $1.39 per FT Share, for gross proceeds of $2,000,071, and (ii) 6,000,000 common shares of the Company (the ‘HD Shares’), at a price of $1.00 per HD Share, for gross proceeds of $6,000,000, for aggregate gross proceeds to the Company of $8,000,071 (the ‘Offering’).
In addition, the Company has granted the Underwriters an option (the ‘Option‘) to increase the size of the Offering by up to an additional $2,000,000 in HD Shares, on the same terms and conditions, by giving written notice of the exercise of the Option, or a part thereof, to the Company at any time up to 48 hours prior to the Closing Date (as defined below).
The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Shares, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible ‘Canadian exploration expenses’ that qualify as ‘flow-through mining expenditures’ as both terms are defined in the Income Tax Act (Canada) (the ‘Qualifying Expenditures‘) related to the Company’s Goldfields Gold Project in Saskatchewan. The Company intends to use the net proceeds of the offered HD Shares for the commencement of permitting activities and studies toward a pre-feasibility study for the Goldfields Gold Project, commencement of exploration at Poma Rosa subject to reaching community exploration agreements and receiving government permits, and working capital and general corporate purposes. Qualifying Expenditures in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares will be incurred (or deemed to be incurred) by the Company on or before December 31, 2026, and will be renounced by the Company to the initial purchasers of the FT Shares with an effective date no later than December 31, 2025.
The Offering is expected to close on or about October 30, 2025 (the ‘Closing Date‘), or such other date as the Company and the Underwriters may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the conditional approval of the TSX Venture Exchange.
It is anticipated that Numus Capital Corp., a registered Exempt Market Dealer, will act as a finder for the Offering.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45- 106 – Prospectus Exemptions (‘NI 45-106‘), the FT Shares and HD Shares will be offered for sale to purchasers resident in all provinces of Canada, other than Quebec, and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the ‘Listed Issuer Financing Exemption‘). The FT Shares and HD Shares issued to Canadian resident subscribers under the Listed Issuer Financing Exemption will not be subject to a hold period pursuant to applicable Canadian securities laws.
There is an offering document related to the Offering and the use by the Company of the Listed Issuer Financing Exemption that can be accessed under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.fortunebaycorp.com. Prospective investors should read this offering document before making an investment decision.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act‘) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Fortune Bay
Fortune Bay is a gold exploration and development company advancing high-potential assets in Canada and Mexico. With a strategy focused on discovery, resource growth and early-stage development, the Company targets value creation at the steepest part of the Value Creation Curve – prior to the capital-intensive build phase. Its portfolio includes the development-ready Goldfields Project in Saskatchewan, the resource-expansion Poma Rosa Project in Mexico, and an optioned uranium portfolio in the Athabasca Basin providing non-dilutive capital and upside exposure. Backed by a technically proven team and tight capital structure, Fortune Bay is positioned for multiple near-term catalysts. For more information, visit www.fortunebaycorp.com or contact info@fortunebaycorp.com.
On behalf of Fortune Bay Corp.
‘Dale Verran’
Chief Executive Officer 902-334-1919
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain ‘forward-looking information’ within the meaning of Canadian securities legislation, including, but not limited to, statements regarding the Company’s plans with respect to the Company’s projects and the timing related thereto, the merits of the Company’s projects, the Company’s objectives, plans and strategies, the Offering, the listing of the FT Shares and the HD Shares on the TSX Venture Exchange, the tax treatment of the FT Shares, the use of proceeds of the Offering, the potential exercise of the Option by the Underwriters, and other matters. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘intends,’ ‘estimates,’ ‘projects,’ ‘aims,’ ‘potential,’ ‘goal,’ ‘objective,’, ‘strategy’, ‘prospective,’ and similar expressions, or that events or conditions ‘will,’ ‘would,’ ‘may,’ ‘can,’ ‘could’ or ‘should’ occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward- looking statements include the risk of accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, or the possibility that the Company may not be able to secure permitting and other agency or governmental clearances, necessary to carry out the Company’s exploration plans, risks of political uncertainties and regulatory or legal changes in the jurisdictions where the Company carries on its business that might interfere with the Company’s business and prospects. The reader is urged to refer to the Company’s reports, publicly available through the Canadian Securities Administrators’ System for Electronic Data Analysis and Retrieval + (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.
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.
SOURCE Fortune Bay Corp.
View original content: http://www.newswire.ca/en/releases/archive/October2025/20/c4700.html
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Australian Prime Minister Anthony Albanese and US President Donald Trump signed a rare earths deal during their meeting at the White House on Monday (October 20).
The meeting was set to focus on critical minerals and rare earths, with Albanese telling Bloomberg on Sunday (October 19) that it is also an opportunity to “consolidate and strengthen” the US-Australia relationship.
According to insiders, the deal has been in the works for five months now. Albanese was also quoted as having described it as an US$8.5 billion pipeline ‘that we have ready to go.’
During the meeting, Trump said that they “never had any doubts” about the US-Australia relationship, adding that “there’s never been anybody better.”
The signing of the statement happened after Trump’s opening remarks, with the US President calling the deal a “key objective” in reducing reliance on China.
“Within a year, we’ll have critical minerals and rare earths that you won’t know what to do with them,” Trump said, noting that this will happen within a year from now.
‘They’ll be worth about two dollars,’ he added.
China still currently holds the world’s largest rare earths reserves, but Australia has been highlighted as a key player since the issue of tariffs between the US and China.
The country is also home to some of the most significant rare earths reserves globally, such as Lynas Rare Earths’ (ASX:LYC, OTC:LYSDY) 106.6 million tonnes Mount Weld mine and Arafura Rare Earths’ (ASX:ARU, OTC:ARAFF) 56 million tonnes Nolans project.
Last week, several companies, such as Nova Minerals (ASX:NVA,NASDAQ:NVA) were invited to brief the Australian government on key projects prior to the US-Australia meeting.
Nova was instructed to include an overview of its flagship Estelle gold project, the key minerals identified, planned expansion activities, and the company’s engagement with US government agencies.
The same goes for Resolution Minerals (ASX:RML), which was invited for a briefer on its Horse Heaven gold-antimony-tungsten project.
Both Nova and Resolution topped the ASX charts last week.
AUKUS deal
Albanese and Trump were also reported to have discussed the AUKUS submarine deal, a multi-billion dollar agreement between Australia, the UK and the US, which is believed to be about countering China’s growing presence in the Indo-Pacific region.’
When asked whether AUKUS is a “deterrent” for China, Trump answered yes.
‘(But) I don’t think we’re going to need it’ with China.
“The US has the best military in the world, and nobody wants åto mess with it,” he added. ‘We’re going to get along great with China.’
AUKUS is worth around US$239 billion or AU$368 billion over 30 years. Starting in 2032, Australia plans to buy three Virginia-class submarines from the US, with the option to get two more. These will fill the gap while the UK and Australia develop a new submarine model.
Trump also said that the US is working on building more submarines for Australia and is going to expedite submarine exports to Australia.
Australia is expected to receive the first of the new submarines in the early 2040s.
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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Terra Clean Energy CORP. (‘ Terra ‘ or the ‘ Company ‘) (CSE: TCEC,OTC:TCEFF, OTCQB: TCEFF, FSE: C9O0) is pleased to announce a non-brokered private placement of a minimum of 10,000,000 units of the Company (each, a ‘ Unit ‘) and up to 19,520,350 Units at a price of C$0.14 per Unit (the ‘ Issue Price ‘) for aggregate minimum gross proceeds of C$1,400,000 and up to C$2,732,849 (the ‘ Offering ‘). Each Unit will consist of one common share in the capital of the Company (a ‘ Common Share ‘) and one-half of one common share purchase warrant (each whole warrant, a ‘ Warrant ‘). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of C$0.17 for a period commencing 60 days following completion of the Offering until the date that is 36 months following the completion of the Offering.
The Company intends to use the net proceeds of the Offering to fund a portion of the purchase price of the Utah claims, for future exploration and development costs and general working capital and corporate purposes.
The Offering is expected to close on or about November 4, 2025 and is subject to customary closing conditions of this nature, including but not limited to, the Company receiving all necessary regulatory approvals, including the conditional approval from the Canadian Securities Exchange.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (‘ NI 45-106 ‘), the Units will be offered for sale to purchasers resident in each of the provinces and territories of Canada, except Quebec, and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (collectively, the ‘ Listed Issuer Financing Exemption ‘). As the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the Units issued pursuant to the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws. There is an offering document related to the Offering that can be accessed under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at https://www.tcec.energy . Prospective investors should read this offering document before making an investment decision.
The Company may pay a finder’s fee to certain arm’s length finders comprising of: (i) a cash commission up to 7% of the aggregate proceeds of the Offering payable in cash; and (ii) non-transferrable finder warrants of the Company exercisable to acquire a number of Common Shares equal to 7% of the number of Units issued pursuant to the Offering, at an exercise price of C$0.14 per Common Share for a period of 36 months from the Closing Date.
No U.S. Offering or Registration
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘ 1933 Act ‘) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
About Terra Clean Energy Corp.
Terra Clean Energy Corp. is a Canadian-based uranium exploration and development company. The Company is currently developing the South Falcon East uranium project, which holds a 6.96M pound inferred uranium resource within the Fraser Lakes B Deposit, located in the Athabasca Basin region, Saskatchewan, Canada as well as past producing uranium mines in Utah, United States.
ON BEHALF OF THE BOARD OF Terra Clean Energy CORP.
‘Greg Cameron’
Greg Cameron, CEO
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101, reviewed and approved on behalf of the company by C. Trevor Perkins, P.Geo., the Company’s Vice President, Exploration, and a Qualified Person as defined by National Instrument 43-101.
*The historical resource is described in the Technical Report on the South Falcon East Property, filed on sedarplus.ca on February 9, 2023. The Company is not treating the resource as current and has not completed sufficient work to classify the resource as a current mineral resource. While the Company is not treating the historical resource as current, it does believe the work conducted is reliable and the information may be of assistance to readers.
Forward-Looking Information
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’ and other similar words, or statements that certain events or conditions ‘may’ or ‘will’ occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information, including statements regarding the Offering and the potential development of mineral resources and mineral reserves which may or may not occur. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and general economic and political conditions. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary approvals, including governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by applicable laws. For more information on the risks, uncertainties and assumptions that could cause our actual results to differ from current expectations, please refer to the Company’s public filings available under the Company’s profile at www.sedarplus.ca.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
Greg Cameron, CEO
info@tcec.energy
416-277-6174
Terra Clean Energy Corp
Suite 303, 750 West Pender Street
Vancouver, BC V6C 2T7
www.tcec.energy
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Panama will demand that any new deal to reopen the US$10 billion Cobre Panama copper mine explicitly recognizes the state’s ownership of the land and its mineral resources, Finance Minister Felipe Chapman said according to a Bloomberg report.
“For us, it’s important to have an agreement that states very clearly that resources belong to the Republic of Panama,” Chapman told Bloomberg during the International Monetary Fund (IMF) and World Bank annual meetings in Washington.
Operated by Canada’s First Quantum Minerals (TSX:FM,OTC Pink:FQVLF), the Cobre Panama mine was ordered shut in late 2023 following a Supreme Court ruling that voided its 20-year operating contract as unconstitutional.
The decision came after weeks of mass protests over environmental concerns and what many Panamanians saw as an unfair deal for the state.
The closure and the subsequent government-imposed moratorium on new mining concessions sent shockwaves through Panama’s economy, which had relied on the mine for roughly 5 percent of its GDP and 1 percent of global copper supply.
President José Raúl Mulino’s new administration has since been laying the groundwork to reopen talks with First Quantum, which agreed earlier this year to suspend its arbitration proceedings against Panama.
Franco-Nevada (TSX:FNV,NYSE:FNV), a metals streaming partner with an interest in the mine, also paused its own arbitration case last June as the company attempted to clear the way for renewed dialogue.
Despite lingering divisions over mining, Chapman said public sentiment toward Cobre Panama has softened. Recent polls show that about 50 percent of Panamanians now view the mine negatively, down from over 80 percent a year earlier, while a sizable “agnostic” group remains open to supporting a deal under fair conditions.
Chapman also emphasized fiscal discipline amid the country’s economic challenges, calling Panama’s deficit targets of 4 percent for 2025 and 3.5 percent for 2026 “non-negotiable.”
He said the government would wait for global interest rates to decline further before returning to the bond market.
Cobre Panama was one of the largest industrial operations in Central America and represented decades of investment. First Quantum spent more than two decades and about US$10 billion to bring it into production, which began in 2019.
Its closure in November 2023 not only halted thousands of direct and indirect jobs but also triggered a broader freeze in the mining sector.
The economic fallout was swift: credit agency Fitch Ratings downgraded Panama’s sovereign rating in March 2024 from BBB– to BB+, citing governance risks and fiscal strain after the mine’s closure.
The IMF predicted Panama’s GDP growth to slow down to 2.9 percent in 2024 from 7.4 percent the previous year, before rebounding to 4.5 percent in 2025 as other sectors pick up.
Earlier this year, the government also approved the removal of approximately 120,000 metric tons of copper concentrate that has been stranded at the site since the mine was shuttered.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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Mercado Minerals Ltd. (CSE: MERC) (“Mercado” or the “Company”) is pleased to announce that it has completed the acquisition (the “Acquisition”) of Concordia Silver Company S.A. DE C.V. (“Concordia”). Concordia is an arms-length privately-held Mexican corporation that holds mineral properties in Sinaloa, Mexico.
Under the terms of the Agreement, Mercado acquired all of the outstanding share capital of Concordia in consideration for a cash payment US$105,000 and the issuance of 6,000,000 common shares (the “Consideration Shares”) to Concordia shareholders (collectively, the “Vendors”). Mercado will issue a further 2,000,000 common shares to the Vendors on the first anniversary of closing the Acquisition and a further 2,000,000 common shares to the Vendors on the second anniversary of closing the Acquisition. The Considerations Shares are subject to restrictions on resale from which they will be release in four equal tranches every six months over a twenty-four month period.
The Company has also issued 300,000 common shares to an arms-length third-party who introduced Concordia and the Acquisition to the Company.
About Mercado Minerals Ltd.
Mercado Minerals Ltd. (CSE: MERC) is a company involved in the business of acquiring and exploring mineral properties in the Americas. Mercado has been primarily involved in the exploration and evaluation of the Porter Property, located within the Alberni Mining Divisions of British Columbia.
For further information, contact:
Daniel Rodriguez
CEO & Director
Phone: (604) 353-4080
Email: drodriguez@mercadominerals.com
John Fraser
VP Business Development & Director
Phone: (604) 838-7677
Email: jfraser@mercadominerals.com
Forward-Looking Statement (Safe Harbor Statement):
This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words ‘anticipate,’ ‘plan,’ ‘continue,’ ‘expect,’ ‘estimate,’ ‘objective,’ ‘may,’ ‘will,’ ‘project,’ ‘should,’ ‘predict,’ ‘potential’ and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements concerning the Company’s exploration plans. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on these statements because the Company cannot provide assurance that they will prove correct. Forward-looking statements involve inherent risks and uncertainties, and actual results may differ materially from those anticipated. These forward-looking statements are made as of the date of this press release, and, except as required by law, the Company disclaims any intent or obligation to update publicly any forward-looking statements.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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