The Capital Builder
Author

admin

Browsing
Investing

Allied Critical Metals Announces Material Increase to Mineral Resource Estimate at Borralha Tungsten Project in Northern Portugal

Highlights:

  • One of Europe’s Premier Emerging Tungsten Assets materially increases its mineral resource estimates with Measured and Indicated Resource Estimate (M+I) increasing to 13.0 Mt at 0.21% WO₃ and Inferred Resource Estimate to 7.7 Mt at 0.18% WO₃.

    Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) (‘Allied’ or the ‘Company’), which is focused on its 100% owned past producing Borralha and Vila Verde tungsten projects in northern Portugal, is pleased to announce an updated Mineral Resource Estimate (‘MRE’) at the Company’s Borralha Tungsten Project. The MRE is only with respect to the Santa Helena Breccia and does not include other potential mineralized deposits on the property. This update incorporates results from the 2025 Phase 1 RC drilling (4,210 metres) campaign and represents a significant step in advancing the Borralha Project toward a Preliminary Economic Assessment (‘PEA’) targeted for Q1, 2026. It is particularly timely as tungsten prices remain strong at approximately U.S. $700MTU APT, up about 70% over the past six months amid increasing demand for critical raw materials and tightening global supply.

    The updated MRE marks a major step change from the 2024 MRE (4.98 Mt Indicated at 0.21% WO₃ and 7.01 Mt Inferred at 0.20% WO₃), with the Borralha resource now at 13.0 Mt Measured and Indicated (M+I) at 0.21% WO₃ and 7.7 Mt Inferred at 0.18% WO₃, confirming the Santa Helena Breccia as one of the largest undeveloped tungsten systems in Europe.

    UPDATED MINERAL RESOURCE ESTIMATE (MRE)
    (Effective date: 16 November 2025; based on 0.09% WO₃ cut-off; undiluted in-situ; WO₃-only.)

    TABLE 1 — Mineral Resources at 0.09% WO₃ Cut-off

    Classification Tonnes (Mt) WO₃ (%) Contained WO₃ (t)
    Measured 1.0 0.22 2,088
    Indicated 12.0 0.21 24,974
    M+I 13.0 0.21 27,062
    Inferred 7.7 0.18 13,878

     

    * The MRE was prepared in accordance with the CIM Definition Standards (2023) and National Instrument 43-101—Standards for Disclosure of Mineral Projects (‘NI 43-101‘) and replaces the previous maiden resource dated March 25, 2024.

    Roy Bonnell, CEO & Director of Allied, commented: ‘This updated MRE is a major milestone for the Borralha Project. Growing the Measured and Indicated resources to 13.0 million tonnes at 0.21% WO₃ and Inferred resources to 7.7 million tonnes at 0.18% WO₃ while keeping the system open in multiple directions confirms both the scale and continuity of the deposit. The Borralha Project continues to impress by continuing to produce record tungsten intercepts. With our next core drilling campaign planned for early 2026, we are confident that this project will continue to expand and strengthen its position as one of Europe’s most compelling tungsten assets.’

    ‘This updated MRE strengthens not only the technical foundation of the Borralha Project, but also our position within the ongoing environmental and permitting processes, with anticipated approvals in Q1, 2026. It provides an excellent foundation to further build the MRE for our anticipated PEA in Q1 2026 by, among other things, pairing two or three holes to reach more mineralization which weren’t accessible with RC in this campaign. Alongside the drilling and geological work, our team has been advancing the Environmental Impact Assessment and navigating the extensive regulatory and administrative steps required in Portugal. Today’s results support the robustness of the project as we progress through these parallel workstreams. The combination of geological growth, improving confidence, and continued permitting momentum gives us a clear and responsible path forward toward development.’

    Note: In accordance with NI 43-101 Section 3.5, Mineral Resources are reported separately by category and must not be aggregated. Measured and Indicated Resources may be combined for reporting purposes, but Inferred Resources cannot be added to other categories. No combined grade is reported for Measured + Indicated + Inferred.

    Highlights:

    • New MRE incorporates 1) RC step-outs, 2) infill drilling, 3) density updates, 4) revised grade shell, 5) improved geological model 6) enhanced geostatistical parameters.
    • WO₃-only cut-off grade is 0.09% WO₃, consistent with the expectable underground LHOS potential and gravity-dominant metallurgy.
    • Strong continuity of mineralization confirmed; extensions defined toward the north dip and western flank.
    • Metallurgy indicates simple, low-cost gravity flowsheet with ~75-85% WO₃ recovery and potential Cu-Sn-Ag by-product upside to be defined in the PEA.
    • Updated block model supports growing potential for scalable, long-life underground operation.
    • The final RC holes were terminated before reaching the anticipated mineralized corridors, leaving the western and northern down-dip extensions open. This indicates that significant potential remains for additional resource growth with only modest further drilling, which will be addressed in the next core drilling campaign planned for Q1 2026.

    GEOLOGICAL & METALLURGICAL CONTEXT

    Drilling confirms that the Santa Helena Breccia is a large, subvertical, coarse-fragment collapse breccia, strongly mineralized in wolframite ± ferberite, with accessory cassiterite, chalcopyrite, silver sulphosalts, and low deleterious elements. Mineralization displays strong structural control and excellent lateral continuity. This updated MRE does not yet take into account any future breccia complexes or other geological anomalies that may be present at the Borralha Project.

    Metallurgy

    Existing metallurgical programs (bench-scale testing, mineralogical studies, and semi-industrial work by MinePro), together with ongoing metallurgical test work at Wardell Armstrong International (SLR), indicate:

    • Coarsely liberated wolframite, well suited to gravity concentration.
    • Heavy Liquid Separation (5 mm) delivering exceptional performance, rejecting >50% of the mass at high WO₃ recovery.
    • Spirals and shaking tables effective for fine clean-up stages.
    • Final sulfide flotation required to clean the gravity concentrate and remove sulfide minerals.
    • Cassiterite and chalcopyrite exhibit realistic beneficiation potential, with metallurgy to be provided by MinePro’s independent QP for the NI 43-101 Technical Report.
    • Wardell Armstrong (UK) test work is underway, with results expected in Q1 2026 to support PEA flowsheet definition and recoveries.

    By-products (Cu-Sn-Ag)

    Although not included in cut-off or resource calculation:

    • Chalcopyrite follows sulfide flotation which leads to potential Cu concentrate;
    • Cassiterite follows gravity circuit which leads to potential Sn concentrate; and
    • Ag could report to sulfide concentrate.

    These metals represent future upside to be defined within the PEA.

    Cut-off grade rationale

    Resources are reported above a 0.09% WO₃ cut-off grade, derived from:

    • APT price: US $500/MTU;
    • Underground long-hole stoping conceptual mining; and
    • An implicit 0.09% WO₃ grade shell was constructed using a numeric-model iso-value of 0.6. Minor isolated volumes <5,000 m³ were removed to satisfy CIM RPEEE (Reasonable Prospects for Eventual Economic Extraction) continuity criteria and to avoid isolated blocks lacking reasonable prospects for extraction.

    NEXT STEPS

    The updated MRE provides the foundation for Allied’s maiden PEA planned for Q1 2026, evaluating a scalable underground operation leveraging gravity-dominant processing with by-product potential. The next steps include:

    • Completion of Wardell Armstrong (UK) detailed metallurgy (underway);
    • Engineering trade-off studies to support PEA;
    • Phase 2 RC & diamond drilling targeting western & down-dip expansion; and
    • Environmental and hydrogeological baseline program (ongoing).

    QUALIFIED PERSONS

    The updated MRE was prepared by Vítor Arezes, MIMMM, QMR #703197, Vice President Exploration of Allied Critical Metals, Qualified Person under NI 43-101. The scientific and technical information contained in this release has been reviewed and approved by Mr. Vítor Arezes, BSc, MIMMM (QMR), Vice-President Exploration of Allied Critical Metals Inc., a Qualified Person under NI 43-101. Mr. Arezes is not independent of the Company as he is an officer of Allied Critical Metals Inc.

    The updated MRE was reviewed and validated by J. Douglas Blanchflower, P.Geo. of Minorex Consulting. The scientific and technical information contained in this release has also been reviewed and approved by Mr. J. Douglas Blanchflower, P.Geo. (License nr. 19086), Minorex Consulting, a Qualified Person under NI 43-101. Mr. Blanchflower is independent of the Company and its mineral properties.

    In addition, the metallurgical information in this news release was reviewed by Mr. David Castro López, MIMMM, QMR #685484 of MinePro Lda. The scientific and technical information contained in this release has also been reviewed and approved by Mr. David Castro López, MIMMM, a Qualified Person under NI 43-101. Mr. Lopez is independent of the Company and its mineral properties.

    NI 43-101 TECHNICAL REPORT FILING

    A Technical Report prepared supporting the updated Mineral Resource Estimate will be filed on SEDAR+ within 45 days of this news release, in accordance with Section 4.2 of NI 43-101.

    Table 2 – 2025 Campaign Interval Highlights

    Table 2

    To view an enhanced version of this graphic, please visit:
    https://images.newsfilecorp.com/files/11632/275151_acmtable2.jpg

    Notes: [1] Reported intervals are downhole lengths. Estimated true widths were calculated from hole orientation and the interpreted geometry of the mineralized corridors. Estimates may vary locally where geometry changes. Where intervals fall outside the resource block-model domains, true widths are not estimated and only downhole lengths are reported. [2] True widths are unknown to be defined after further MRE update.

    All of the above drill results were previously disclosed as first time disclosure by the Company in its past news releases, as follows: (i) on September 4, 2025 – Bo_RC_14/25; (ii) on September 11, 2025 – Bo_RC_15/25, Bo_RC_17/25, and Bo_RC_22/25; (iii) on September 29, 2025 – Bo_RC_21/25 and Bo_RC_26/25; (iv) on October 22, 2025 – Bo_RC_16/25, Bo_RC_18/25, and Bo_RC_19/25; (v) on November 5, 2025 – Bo_RC_27/25 and Bo_RC_28/25; and (vi) on November 12, 2025 – Bo_RC_20/25, Bo_RC_25/25, Bo_RC_29/25, and Bo_RC_30/25.

    About the Borralha Tungsten Project

    Allied’s Borralha Tungsten Project is one of the largest and most historically significant past-producing tungsten operations in Western Europe. Located in northern Portugal, Borralha was once the second-largest tungsten mine in the country and supplied strategic materials to European and Allied industries during the 20th century, including both World Wars and the Cold War period.

    Today, the project is undergoing a modern revitalization based on a combination of scale, grade, metallurgy, and jurisdictional strength. Mineralization is dominated by coarse-grained wolframite, which is highly desirable in global markets due to its favorable processing characteristics and higher recoveries compared to scheelite-bearing deposits.

    Borralha benefits from existing infrastructure, shallow mineralization, and a simple processing route, making it one of the most advanced tungsten development projects in the European Union. These attributes are particularly important in the context of the EU Critical Raw Materials Act (2024/1252) and NATO strategic autonomy initiatives, both of which explicitly identify tungsten as a defense-critical raw material subject to severe supply risk.

    With the EU currently dependent on over 80% of its tungsten imports from China, Borralha represents a rare and strategic opportunity to develop a secure, domestic, and NATO-aligned supply source. As Allied continues to advance drilling, resource expansion, and economic studies, Borralha is poised to play a central role in reshaping Europe’s tungsten landscape—supporting both decarbonization technologies and defense-industrial resilience.

    ON BEHALF OF THE BOARD OF DIRECTORS
    ‘Roy Bonnell’

    Roy Bonnell
    CEO and Director

    For further information or investor relations inquiries, please contact:

    Dave Burwell
    Vice President, Corporate Development
    Email: daveb@alliedcritical.com
    Tel: 403-410-7907
    Toll Free: 1-888-221-0915

    ABOUT Allied Critical Metals

    Allied Critical Metals Inc. (CSE: ACM,OTC:ACMIF) (OTCQB: ACMIF) (FSE: 0VJ0) is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of this unique metal. Currently, China, Russia and North Korea represent approximately 87% of the total global supply and reserves. The Tungsten market is estimated to be valued at approximately U.S. $5 to $6 billion, and it is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.

    Please also visit our website at www.alliedcritical.com.

    Also visit us at:

    LinkedIn: https://www.linkedin.com/company/allied-critical-metals-inc/
    X: https://x.com/@alliedcritical/
    Facebook: https://www.facebook.com/alliedcriticalmetalscorp/
    Instagram: https://www.instagram.com/alliedcriticalmetals/

    The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

    Cautionary Statement Regarding Forward-Looking Information

    This news release contains ‘forward-looking statements’, including with respect to the use of proceeds. Wherever possible, words such as ‘may’, ‘would’, ‘could’, ‘should’, ‘will’, ‘anticipate’, ‘believe’, ‘plan’, ‘expect’, ‘intend’, ‘estimate’, ‘potential for’ and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company’s management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company’s Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company’s profile at www.sedarplus.ca). Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and use of proceeds for exploration and development of the Company’s mineral projects as described in the Company’s Listing Statement, news releases, and corporate presentations. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements and reference should also be made to the Company’s Listing Statement dated April 23, 2025 and news release dated May 16, 2025, and the Company’s most recently filed management’s discussion and analysis, all as filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275151

    News Provided by Newsfile via QuoteMedia

    This post appeared first on investingnews.com

    Keep Reading
    Investing

    LAURION Mineral Exploration:Advancing a Gold and Polymetallic Asset in Ontario’s Greenstone Belt

    LAURION Mineral Exploration (TSXV:LME,OTCPINK:LMEFF, FSE:5YD) is a Canadian mid-stage exploration and development company advancing its 100-percent-owned Ishkōday project in Ontario’s Greenstone Belt. The 57 sq km project hosts gold and zinc-copper-silver mineralization, plus two past-producing mines and roughly 280,000 tonnes of historical stockpiles averaging 1.14 g/t gold—offering multiple value streams and strong leverage to both precious and base metals.

    Ongoing drilling, surface work and 3D modeling, supported by leading technical and permitting partners, are outlining a large mineralized system across a 6 km by 2.5 km corridor, highlighting Ishkōday’s district-scale potential. LAURION is also advancing its AEP to enable underground access and potential processing of historical stockpiles, which contain an estimated 10,000 ounces of near-term gold and could provide early cash flow to support future exploration.

    Ishkōday geology overview

    LAURION’s approximately 73.6 percent insider ownership reflects strong alignment and long-term confidence in the company’s strategy.

    Company Highlights

    • Dual-mineralization, district-scale opportunity: The Ishkōday project features an uncommon pairing of two mineral systems in a single district: 1) a gold dominant orogenic system and gold with silver-zinc-copper epithermal system.
    • Brownfield advantage: Anchored by two historic past-producing mines within a 57 sq km land package in Ontario’s prolific Greenstone Belt.
    • Exceptional insider alignment: Approximately 73.6 percent insider, friends-and-family ownership demonstrates long-term confidence in the project.
    • Robust technical foundation: Nearly 100,000 metres of drilling, advanced 3D geological modeling, and partnerships with leading engineering, geoscience and ESG firms.
    • Near-term cash-flow potential: Surface stockpile and tailings with an historic estimation, containing roughly 10,000 ounces (280kt @ 1.14 g/t Au) of gold pending advanced exploration permit approval.
    • Strategic rerating and M&A appeal: Ongoing derisking, resource growth and permitting progress position Ishkōday as a future development or acquisition candidate in a Tier-1 jurisdiction.

    This LAURION Minerals Exploration profile is part of a paid investor education campaign.*

    Click here to connect with LAURION Minerals Exploration (TSXV:LME) to receive an Investor Presentation

    This post appeared first on investingnews.com

    Keep Reading
    Investing

    How to Invest in Gold Royalty and Streaming Stocks

    Gold royalty companies offer investors exposure to gold and silver with the benefits of diversification, lower risk and a steady income stream.

    Royalty companies operating in the resource sector will typically agree to provide funding for the exploration or development of a resource in exchange for a percentage of revenue from the deposit if it begins producing. Similarly, a company with a streaming model may work out an agreement with a resource company for a share of the metal produced from a deposit in exchange for an investment.

    These kinds of arrangements benefit both parties. Streamers get access to the underlying commodity at a fixed price and are shielded from cost overruns and spikes in production. Further, if there is a price decrease the metals can be warehoused until the market conditions improve.

    In both cases, mining companies receive considerable upfront investment during the expensive construction and expansion phases, and unlike loans these investments have longer-term payouts at a fixed amount.

    Let’s take a deeper look at how royalties and streaming works, the benefits of the royalty business model, and the gold and silver royalty and streaming stocks you can invest in.

    In this article

      How do gold and silver royalties work?

      Gold and silver royalty agreements involve royalty companies agreeing to provide funding for the exploration or development of a precious metals resource in exchange for a percentage of revenue from the deposit if it begins producing metals.

      The foundation for royalties dates back a few hundred years. Originally, they were payments made to the British monarchy in exchange for miners’ rights to operate gold and silver mining operations on lands held by the crown. Today, these arrangements still exist, with mining operators paying the government a share of the revenues generated from exploiting resources on public lands.

      The first royalty paid to a company in the gold sector was an agreement in 1986 in which Franco-Nevada (TSX:FNV,NYSE:FNV) made a US$2 million investment into Western States Minerals’ Goldstrike small heap-leach mine in Nevada, US, for a 4 percent share of revenues collected from the mine. Western States was sold the same year to Barrick Gold (TSX:ABX,NYSE:GOLD). Barrick discovered a far larger resource at the site and the royalty has since earned Franco-Nevada more than US$1 billion.

      This early example set a precedent for the industry. It saw Franco-Nevada, which was then a gold exploration company, lock itself into what became one of the largest gold mineral resources in the world at a relatively low overhead while avoiding future costs associated with the growth and maintenance of the mine.

      How do gold and silver streams work?

      Gold and silver streams work in a similar manner to the royalty model but returns are in the form of physical metals rather than funds. In return for investing in an asset, a gold streaming company may work out an agreement with a resource company for a share of the metal produced from a deposit, or for the ability to purchase the metal at a lower price than market value.

      This is also a popular model with base metal mining companies whose operations result in gold and/or silver by-products. In these cases, gold and silver streaming companies may work out a deal with a base metal mining operation to take delivery of a certain amount of precious metals at an agreed upon price.

      The Goldstrike royalty made Franco-Nevada what it is today, but its largest contributing asset in its portfolio is a deal with Lundin Mining (TSX:LUN,OTC Pink:LUNMF) for a stream of the gold and silver resources extracted from its Candelaria copper mine in Chile.

      Under the terms of the deal, which was part of Lundin’s 2014 acquisition of Freeport-McMoRan’s (NYSE:FCX) stake in Candelaria, Franco-Nevada provided a US$648 million deposit in exchange for a 68 percent stream of the asset’s silver and gold. This will lower to 40 percent once 720,000 ounces of gold and 12 million ounces of silver have been delivered, which the company currently predicts will take place in 2027.

      While Franco-Nevada does have to pay for the metal, the agreed upon amount is far under the current market value. At the time, the deal was set at US$400 for each ounce of gold and US$4 per ounce of silver with a 1 percent inflationary adjustment, or market price if that was less.

      Are royalty and streaming companies a good investment?

      Royalty and streaming companies are largely seen as a lower-risk investment than mining companies. Lower operational costs and higher portfolio diversification means they are hedged against a mine shutdown, natural disaster, market forces or the politics that may affect the nature of an operation or project. However, that’s not to say royalty and streaming deals aren’t without their risks.

      In many ways, gold royalty companies are like venture capitalists in the tech industry, working to fund many projects in the hopes that some will see big payoffs that offset the loss from the ones that don’t make it. This means they need large access to funding in order to build their portfolios.

      To get funding, royalty and streaming companies have several options: using cash on hand, raising debt through loans or issuing more shares. Each of these options carries risk. Using cash to pay for investments could reduce the size of the safety net and eat into company liquidity, debt needs to be managed to ensure that payments don’t exceed income and the issuance of stock could lead to an overall devaluation of share price and impact investor sentiment.

      Once companies have developed strong cash flows and good liquidity, they are able to take advantage of their own reserves, without the need to worry about loans or stock dilution. The same cannot be said for the up-and-coming companies who need to rely on external funding to make deals, making them riskier.

      These companies provide a good entry point for investors with lower share price, and have more potential to return higher percentage gains in share price, they also bear more risk. With more reliance on raising external capital, there is a greater need for deals to be successful and a greater chance for a company to incur more debt load or stock dilution.

      Diverse portfolios can help reduce the risk associated with a royalty company, and companies like Franco-Nevada have the industry knowledge and financial capital to take some risks. As of February 2025, the company has 430 assets on their books; of those, 119 are producing, and 38 are in the advanced stages of development. It’s the 273 more that are in the exploration phase, many of which will never provide returns, that represent the greatest risk.

      Of course, unforeseen events can affect both mining and royalty companies alike, particularly when assets that take up a larger percentage or a portfolio are affected. Franco-Nevada had more than US$1 billion invested in First Quantum’s (TSX:FM,OTC Pink:FQVLF) Cobre Panama mine before it was shuttered by the Panamanian government following protests at the end of 2023. The mine brought in US$223.3 million for Franco-Nevada in 2022 and represented nearly a quarter of its precious metal income. While it fared better than First Quantum, the royalty company’s share price took a significant hit.

      Top 5 gold and silver royalty companies

      The biggest companies in the precious metals royalty and streaming space have long histories and have built positive reputations on the backs of strong investments. They offer a means for investors to de-risk an entry into the gold sector by maintaining an arms-length attachment to it.

      The five large-cap gold and silver royalty and streaming companies on this list had market caps above $1 billion in their respective currencies as of November 17, 2025.

      1. Wheaton Precious Metals (TSX:WPM,NYSE:WPM)

      Market cap: C$66.35 billion
      Share price: C$143.68

      Wheaton Precious Metals was established in 2004 as Silver Wheaton with a focus on silver streaming. Goldcorp held a majority interest, but began to reduce it in 2006 and by 2008 had completely divested itself. By that time, Silver Wheaton had begun to diversify into other precious metals. The following year, Silver Wheaton acquired rival silver streaming stock Silverstone Resources in a C$190 million deal.

      Silver Wheaton changed its name in 2017 to Wheaton Precious Metals and has since built itself into one of the largest players in the gold and silver royalty and streaming space, with investments in 23 operating mines and 25 development projects across five continents.

      Included in Wheaton’s assets are investments in Newmont’s (TSX:NGT,NYSE:NEM,ASX:NEM) Peñasquito mine in Mexico, Sibanye Stillwater’s (NYSE:SBSW) Stillwater and East Boulder mines in Montana, United States, and Hudbay Minerals’ (TSX:HBM,NYSE:HBM) Copper World Complex project in Arizona, US.

      2. Franco-Nevada (TSX:FNV,NYSE:FNV)

      Market cap: C$53.31 billion
      Share price: C$274.02

      A trailblazer in the gold royalty business, Franco-Nevada has set a high bar. The current iteration of the company was spun out of Newmont in what became a C$1.1 billion initial public offering, one of the biggest IPOs of 2007.

      Franco-Nevada now has a portfolio of royalties and streams on 119 producing assets around the world including gold, silver, base metal and oil and gas operations, which generate more than US$1.2 billion for the company annually. Additionally, the company’s portfolio includes 38 advanced-stage assets and 273 exploration-stage assets.

      Among the producing assets for which Franco-Nevada has precious metals streams and royalties are Glencore’s (LSE:GLEN,OTC Pink:GLCNF) Antapaccay mine in Peru, Agnico Eagle’s (NYSE:AEM,TSX:AEM) Detour Lake mine in Ontario, Canada, and Gold Fields’ (NYSE:GFI) Salares Norte mine in Chile.

      See the sections above for more information on Franco-Nevada’s royalty and streaming deals.

      3. Royal Gold (NASDAQ:RGLD)

      Market cap: US$15.54 billion
      Share price: US$184.07

      Royal Gold got its start in 1981 as oil and gas exploration and production company Royal Resources.

      Responding to shifts in the overall resource market, by 1987, Royal Gold was born with a focus on building a portfolio of minority positions in significant gold properties operated by major mining firms.

      Today, Royal Gold is a leading precious metals streaming and royalty company with interest in about 400 properties, of which 82 are producing assets, across 31 countries.

      About half of its portfolio came from its October 2025 acquisition of Sandstorm Gold and Horizon Copper, which combined for 230 royalty assets, including 40 producing assets.

      Among Royal Gold’s royalty assets are Barrick Mining (TSX:ABX,NYSE:B) and Newmont’s Cortez mine in Nevada, US, Teck’s (TSX:TECK.A,TECK.B,NYSE:TECK) Andacollo mine in Chile and Centerra Gold’s (TSX:CG,NYSE:CGAU) Mount Milligan mine in British Columbia, Canada.

      4. Triple Flag Precious Metals (TSX:TFPM)

      Market cap: C$8.71 billion
      Share price: C42.45

      Triple Flag Precious Metals was founded in 2016 by Shaun Usmar, a former Barrick executive and current CEO of Vale’s (NYSE:VALE) Vale Base Metals.

      Although the company is a relative newcomer to the royalty and streaming space, it has quickly established itself as a frontrunner through several significant deals. Among them was the acquisition of Maverix Metals in January 2023, which helped them become the fourth-largest precious metals royalty company.

      Today, Triple Flag has a global portfolio of gold and silver assets on nearly every continent, comprising 33 production assets and 206 in development or exploration.

      Highlights from its portfolio include streaming and royalty deals on Evolution Mining’s (ASX:EVN,OTC Pink:CAHPF) Northparkes mine in New South Wales, Australia, Nexa Resources’ (NYSE:NEXA) Cerro Lindo mine in Peru, and Westgold Resources’ (ASX:WGX,OTC Pink:WGXRF) Beta Hunt mine in Western Australia.

      5. OR Royalties (TSX:OR,NYSE:OR)

      Market cap: C$8.55 billion
      Share price: C$44.79

      Previously named Osisko Gold Royalties, OR Royalties was created in 2014 as a spinoff deal between Osisko Mining (TSX:OSK), Yamana Gold and Agnico Eagle Mines (TSX:AEM,NYSE:AEM). The deal was made in an attempt to prevent a hostile takeover of Osisko Mining and its Canadian Malartic gold complex by Goldcorp, now part of Newmont.

      In the deal, OR Royalties carried with it a 5 percent net smelter return royalty from the Canadian Malartic mine. Now owned by Agnico Eagle, the complex in Québec remains a cornerstone of the royalty company’s business today.

      The gold and silver royalty and streaming company has gone on to amass royalties, streams and offtakes for 195 assets, 22 of which are producing, across six continents.

      The majority are located in North America, including one of the most well-known gold-producing mines in the world, Agnico Eagle’s Canadian Malartic complex in Québec, as well as SSR Mining’s (NASDAQ:SSRM,TSX:SSRM) Seabee mine in Saskatchewan, Canada, and Kinross Gold’s (TSX:K,NYSE:KGC) Bald Mountain mine in Nevada.

      Small-cap gold and silver royalty companies

      There are also small-cap gold and silver royalty and streaming companies you can invest in and offer a lower-cost option for investors who are comfortable with a little more risk. Like their larger counterparts, small-cap gold royalty stocks offer a lower-risk investment than getting into a small-cap mining company but still provide access to the underlying precious metals market.

      The five small-cap gold and silver royalty companies on this list had market caps above $10 million in their respective currencies as of November 17, 2025.

      1. Gold Royalty (NYSEAMERICAN:GROY)

      Market cap: US$634.85 million
      Share price: US$3.65

      Gold Royalty is building a diversified portfolio of more than 240 gold royalty and gold streaming interests based on net smelter return royalties on properties in the Americas.

      The company’s revenue generating investments include Agnico Eagle’s Canadian Malartic complex in Québec, DPM Metals’ (TSX:DPM) Vareš mine in Bosnia and Herzegovina, and Discovery Silver’s (TSX:DSV,OTCQX:DSVSF) Borden mine in Ontario.

      2. Metalla Royalty & Streaming (TSXV:MTA)

      Market cap: C$861.57 million
      Share price: C$9.59

      Metalla Royalty & Streaming focuses on gold, silver and copper projects. The company’s royalty model involves acquiring royalties and streams by offering resource companies Metalla shares and cash.

      The mid-tier royalty and streaming company’s asset portfolio includes more than 100 projects across North America, South America and Australia. Its cornerstone assets include IAMGOLD (TSX:IMG,NYSE:IAG) and Sumitomo Metal Mining’s (OTC Pink:SSUMF,TSE:5713) Côté gold mine in Ontario, Canada, and First Quantum Minerals’ (TSX:FM) Taca Taca project in Argentina.

      3. Sailfish Royalty (TSXV:FISH,OTCQX:SROYF)

      Market cap: C$242.13 million
      Share price: C$3.30

      Founded in 2014, Sailfish Royalty’s asset portfolio is much smaller than the other gold royalty stocks on this list. It consists of one producing mine as well as two development-stage and two exploration-stage properties in the Americas.

      In Nicaragua, Sailfish has a gold stream equivalent to a 3 percent net smelter return on Mako Mining’s (TSXV:MKO,OTCQX:MAKOF) San Albino gold mine and a 2 percent net smelter return on the area surrounding the mine. The company also holds a 13,500 ounce per quarter silver stream at the property, which was set to expire in May 2025. At the end of April, Sailfish chose to exercise its option to purchase all silver for the life of the mine.

      4. Empress Royalty (TSXV:EMPR,OTCQX:EMPYF)

      Market cap: C$151.4 million
      Share price: C$1.14

      Empress Royalty’s business model involves investing in mining companies in various stages of exploration through production who need further non-dilutive capital to fund their projects and operations.

      Empress’ gold and silver royalty and streaming portfolio includes four producing assets, with two in the Americas and two in Africa: the privately owned Sierra Antapite mine in Peru, Luca Mining’s (TSXV: LUCA) Tahuehueto mine in Mexico, the privately owned Manica mine in Mozambique and Golconda Gold’s (TSXV:GG,OTCQB:GGGOF) Galaxy gold mine in South Africa.

      Empress has a silver stream for Tahuehueto and gold streams for the other three mines.

      The company’s portfolio also includes the development stage Pinos gold-silver project, owned by Candelaria Mining (TSXV:CAND), as well as 10 exploration assets in Canada.

      5. Silver Crown Royalties (CBOE:SCRI,OTCQX:SLCRF)

      Market cap: C$21.87 million
      Share price: C$6.05

      Silver Crown Royalties is a revenue-generating silver-only royalty company focusing on silver as by-product credits. The company targets royalty originations on producing or near-producing assets in tier 1 jurisdictions.

      Silver Crown has royalties on two producing assets in its portfolio: Gold Mountain Mining’s (TSX:GMTN) Elk gold project in British Columbia, Canada, and private Canadian company Pilar Gold’s PGDM mine in Brazil.

      Gold and silver royalty ETFs

      Those who want more broad exposure to the precious metals markets may want to buy shares of an exchange-traded fund that includes gold and silver royalty and streaming stocks. Here are a few to get you started, including ASX gold ETFs and a US gold ETF.

      Betashares Global Royalties ETF (ASX:ROYL)
      The Betashares Global Royalties ETF is an Australian ETF that tracks the performance of an index of global companies that earn a significant amount of their revenue from royalty income, royalty-related income and intellectual property income. The fund’s top two holdings are Wheaton Precious Metals and Franco-Nevada, with Royal Gold and OR Royalties also among its significant holdings.

      Betashares Global Gold Miners ETF (ASX:MNRS)
      The Betashares Global Gold Miners ETF tracks the performance of an index of the world’s largest gold mining companies outside of Australia, hedged into Australian dollars. Wheaton Precious Metals, Franco-Nevada and Royal Gold are also among the fund’s top holdings.

      VanEck Gold Miners ETF (ARCA:GDX)
      The VanEck Gold Miners ETF is a US gold ETF that aims to replicate the performance of the MarketVector Global Gold Miners Index by holding large-cap gold mining stocks and precious metals royalty companies. As with the other gold ETFs on this list, its top holdings include Franco-Nevada, Wheaton Precious Metals and Royal Gold.

      Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

      This post appeared first on investingnews.com

      Keep Reading
      Investing

      Aurumin Shareholders and Court Approve Scheme of Arrangement

      Brightstar Resources Limited (ASX: BTR) (Brightstar or Company) provides the following update on the proposed acquisition of 100% of the fully paid ordinary shares and options in Aurumin Limited (Aurumin) by Brightstar by way of Court-approved share scheme of arrangement (Share Scheme) and option scheme of arrangement (Option Scheme, together the Schemes) under Part 5.1 of the Corporations Act 2001 (Cth).

      Unless otherwise specified, capitalised terms used in this announcement have the same meaning as given in Aurumin’s Scheme Booklet dated 9 October 2025 (Scheme Booklet).

      RESULTS OF THE SECOND COURT HEARING

      Brightstar is pleased to announce that the Supreme Court of Western Australia (Court) has made orders approving the Schemes under which Brightstar will acquire 100% of the shares of Aurumin and all Aurumin options will be cancelled in exchange for new Brightstar options.

      Aurumin intends to lodge an office copy of the Court’s orders with the Australian Securities and Investments Commission (ASIC) on Friday, 21 November 2025, at which time the Schemes will become legally effective. Aurumin expects that the ASX will suspend Aurumin shares from trading on the ASX with effect from the close of trading on Friday, 21 November 2025.

      SANDSTONE PROJECT UPDATE

      • Brightstar and Aurumin currently have six drilling rigs operating in Sandstone, targeting material Mineral Resource Estimate (MRE) growth and infill drilling key deposits to enable an increase in confidence classification
      • Post implementation, the consolidated MRE at Sandstone increases to 2.4Moz @ 1.5g/t Au (pro forma basis with Aurumin)1, with the group total MRE increasing to 3.9Moz @ 1.5g/t Au
      • A Mineral Resource upgrade for Sandstone is targeted for release in 1H CY26 following significant exploration drilling over the past 12 months (+70,000m completed to date)
      • Workstreams proceed on the consolidated Pre-Feasibility Study, with mining engineering, metallurgical, geotechnical, approvals and permitting activities continuing apace to fast-track the eventual development of the Sandstone Gold Project (targeted for FID in 2H CY27)
      • The successful development of Sandstone, in conjunction with the near-term production expansion of Brightstar’s Menzies-Laverton asset base, underpins Brightstar’s aspirational production target of +200,000oz pa.

      Brightstar’s Managing Director, Alex Rovira, commented:

      “We are delighted to see the overwhelming support from Aurumin securityholders for the Schemes. This is the first time in over a decade the Sandstone Greenstone Belt has been consolidated under one ownership, with production last occurring in Sandstone when the gold price was less than A$1,000/oz.

      Despite the limited systematic exploration history as a result of the fragmented ownership, upon completion of the Schemes, Brightstar will emerge with a Mineral Resource of approximately 2.4Moz @ 1.5g/t at the Sandstone Gold Project that is largely constrained within the top 150m from surface. Notably, we see significant potential for Mineral Resource growth following the ~70,000m of drilling already completed in Sandstone by Brightstar, with a targeted ~120,000m of drilling planned for completion prior to the Pre- Feasibility Study targeted for release in mid-2026.

      In our view, the Sandstone district potentially represents one of the largest undeveloped gold projects in the WA goldfields in the hands of a junior/emerging company, with the potential for a multi-decade mine life across both open pit and underground operations.

      The development of our Menzies, Laverton, and Sandstone Gold Projects is central to delivering on our vision and positioning Brightstar as an emerging mid-tier Western Australian gold producer.”


      Click here for the full ASX Release

      This post appeared first on investingnews.com

      Keep Reading
      Investing

      Australia’s Gina Rinehart Now Top MP Materials Shareholder

      Gina Rinehart, owner and CEO of private Australian mining company Hancock Prospecting, has become the largest shareholder of rare earths company MP Materials (NYSE:MP).

      Rinehart’s stake in MP, which she owns via Hancock, now stands at 8.4 percent.

      According to Bloomberg, Hancock added 1 million shares to its MP position in the third quarter. After MP’s share price doubled during the period, it became the top holding in Hancock’s portfolio.

      MP owns and runs the Mountain Pass rare earths mine in San Bernardino County, California. The mine was revived by MP in 2017 and achieved first rare earths concentrate production in 2018.

      In 2024, the company produced a record 45,455 metric tons of rare earth oxides in concentrate, as well as 1,294 metric tons of neodymium-praeseodymium (NdPr) oxide, also a record amount.

      Mountain Pass is currently the only operating rare earths mine in the US, and is gaining attention as the US seeks to establish a rare earths supply chain outside of China. In July, the US Department of Defense (DoD) agreed to buy US$400 million worth of preferred stock in the company, a move that MP called a ‘transformational public-private partnership.’

      On Wednesday (November 19), MP deepened its DoD relationship with a partnership to establish a joint venture with Saudi Arabian Mining Company (Maaden); together they will develop a rare earths refinery in Saudi Arabia.

      ‘This agreement will be beneficial to MP and our industry, and it further aligns U.S. and Saudi interests,’ said James Litinsky, MP’s founder, chair and CEO, in a press release shared by the company that day.

      ‘The formation of the joint venture also underscores MP Materials’ role as an American national champion, and it demonstrates how our fully integrated platform can project U.S. industrial capability abroad.’

      Earlier this year, the Trump administration said Dateline Resources’ (ASX:DTR,OTCQB:DTREF) Colosseum mine, located 10 kilometres from Mountain Pass, could continue operations under its existing mine plan.

      A bankable feasibility study is currently being completed for Colosseum, and is due for completion in early 2026.

      Rinehart’s rare earths investments

      Rinehart is the wealthiest person in Australia, holding a net worth of US$23.9 billion.

      According to Forbes’ 100 billionaires list, she was the 61st richest person globally as of March 7, 2025.

      Besides MP, she is also the largest shareholder of Arafura Rare Earths (ASX:ARU,OTC Pink:ARAFF), with Hancock’s first investment in that company tracing back to December 2022.

      On October 29, Arafura said it was conducting a AU$475 million financing to further advance its Nolans project. Nolans is expected to eventually supply approximately 4 percent of the world’s NdPr oxide.

      Arafura said Hancock committed AU$125 million to the placement, bringing its stake in the firm to 15.7 percent.

      Hancock also holds an interest in Lynas Rare Earths (ASX:LYC,OTCQX:LYSDY), with Rinehart raising her stake in the company to 8.21 percent in January via the purchase of about 10 million shares.

      In 2023, Hancock Prospecting was reported to back Brazilian Rare Earths (ASX:BRE,OTCQX:BRELY) before it went public, taking a 5.85 percent stake. Brazilian Rare Earths listed on the ASX in December 2023.

      Through Hancock, Rinehart also holds investments in lithium, copper and many more commodities. Click here to read about her mining investments and work in the sector.

      Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

      This post appeared first on investingnews.com

      Keep Reading
      Investing

      Barrick Faces Activist Pressure After Elliott Takes Major Stake

      Elliott Investment Management has reportedly taken a large stake in Barrick Mining (TSX:ABX,NYSE:B), the Financial Times reported on Tuesday (November 18), adding activist pressure to the gold producer, which is already dealing with escalating operational problems and a leadership shakeup.

      The moves comes just weeks after the abrupt September exit of former CEO Mark Bristow, and as Barrick’s new chief executive, Mark Hill, begins overhauling the company’s regional structure.

      In an internal memo seen by Bloomberg, Hill said Barrick will fold its Pueblo Viejo mine in the Dominican Republic into its North American division and merge its Latin America and Asia Pacific operations to improve performance.

      Elliott’s investment also comes during a challenging phase for Barrick.

      The company has been hit by rising costs at key North American assets and the loss of its most profitable operation, the Loulo-Gounkoto mine in Mali, after the military junta seized control earlier this year.

      The dispute, which was tied to Mali’s new mining tax code, resulted in 3 metric tons of gold being taken by the state and the detention of four Barrick employees. The asset loss also triggered a roughly US$1 billion writeoff.

      The setbacks have left Barrick trailing behind its peers despite a powerful gold price rally. Company shares are up 117 percent in the past year, compared with an average 130 percent gain among major rivals.

      Barrick’s performance has company executives weighing their options.

      As mentioned, a split into two companies is being considered. Four people told Reuters that this could involve one firm focused on North America and another holding assets in Africa and Asia. Another option would involve selling Barrick’s Africa portfolio outright, along with the Reko Diq project in Pakistan once financing is secured.

      Barrick is also trying to resolve its dispute with Mali before pursuing a sale of that operation.

      Investors have pushed similar ideas before, but were stifled due to the company’s North American footprint.

      The company’s core US asset is Nevada Gold Mines, which it operates in partnership with Newmont (NYSE:NEM,ASX:NEM), and the sentiment has been that “there is not much of value” in Barrick’s remaining mines.

      Bloomberg reported last month that Newmont was looking at whether a transaction could give it control of the Nevada operations it shares with Barrick, but discussions have not advanced since then.

      Elliott, meanwhile, has a long record of targeting miners, including Anglo American (LSE:AAL,OTCQX:AAUKF) and Kinross Gold (TSX:K,NYSE:KGC), and often pushes for structural changes.

      For Barrick, the challenge now is stabilizing its operations, while deciding how far to go with strategic restructuring in today’s historically high gold price environment.

      Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

      This post appeared first on investingnews.com

      Keep Reading
      Investing

      Ganfeng Chairman’s Forecast Sparks Lithium Price Surge in China

      China’s lithium market strengthened sharply on Monday (November 17) after Ganfeng Lithium (OTC Pink:GNENF,HKEX:1772) Chairman Li Liangbin said at a domestic industry conference that demand for the key battery metal could grow by as much as 40 percent in 2026.

      The most-traded lithium carbonate contract on the Guangzhou Futures Exchange rose 9 percent that day and moved near its upper limit, marking its strongest close since June 2024.

      Li’s comments, first reported by financial news outlet Cailian and later shared by Reuters, also included a projection that lithium carbonate prices could reach 200,000 yuan if demand accelerates as expected.

      Traders said the reaction from the lithium price shows how much weight Ganfeng carries in a market that has been quick to react to any sign of stronger consumption after years of oversupply.

      Chinese lithium carbonate prices are already up more than 17 percent this month on improving sentiment in the energy storage sector and expectations that demand for stationary batteries will grow through 2026.

      CATL restart drives lithium volatility

      China’s lithium market is also seeing support from the delayed restart of Contemporary Amperex Technology’s (CATL) (SZSE:300750,HKEX:3750) Jianxiawo mine in Yichun.

      The mine normally produces about 65,000 metric tons of lithium carbonate equivalent a year, roughly 6 percent of global supply. However, it has been shut down since August after its operating permit expired.

      CATL is reportedly making progress at getting the mine back online, but no exact date has been given.

      The shutdown has spilled into global markets as well. In September, Australian lithium stocks fell sharply on the back of signs that CATL’s restart could be approaching.

      Oversupply still weighing on lithium market

      Beyond China, the broader lithium market has struggled with imbalance throughout 2025.

      Prices spiked in July and August before easing again in September, with talks of potential supply cuts by Australian miners creating short-lived rallies despite strong inventories and growing production.

      “The nascency of the lithium market means that it is prone to be led by sentiment,” Fastmarkets’ Claudia Cook wrote earlier this year, noting how futures activity has repeatedly drifted from fundamentals.

      Oversupply remains the defining theme. Global mined output has jumped 192 percent since 2020, swelling inventories faster than even robust electric-vehicle demand can absorb.

      While electric vehicle sales topped 17 million units in 2024 and are expected to exceed 20 million this year, production growth, including a 22 percent rise in mined supply in 2024, has kept the market in surplus.

      Analysts have warned that the imbalance in the lithium sector could persist into the next decade unless mine delays, project cancelations or unexpectedly strong demand intervene.

      Beijing’s new export controls have added another layer of uncertainty.

      Export controls announced last month would mandate that Chinese companies secure export licenses for high-energy lithium-ion batteries, synthetic graphite anodes and critical production equipment. China has delayed the implementation of these controls for one year, until November 10, 2026, as part of a deal with the US.

      Against that backdrop, the US is looking to boost its supply of non-Chinese lithium.

      The US Department of Energy released the first US$435 million from a US$2.23 billion loan to Lithium Americas (TSX:LAC,NYSE:LAC) in October, advancing construction of the Thacker Pass project in Nevada — set to become the largest lithium source in the western hemisphere once online. The project is central to Washington’s push to reduce dependence on Chinese refining and secure domestic supplies of battery-grade material.

      For now, China remains the clearest guide for price direction. Monday’s futures jump showed how quickly sentiment can move when major producers offer firmer demand signals.

      Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

      This post appeared first on investingnews.com

      Keep Reading
      Investing

      Apollo Silver Grants Incentive RSUs

      Apollo Silver Corp. (‘ Apollo ‘ or the ‘ Company ‘) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) announces that, pursuant to the Company’s Omnibus Incentive Plan (the ‘Plan’) dated December 12, 2024, and in accordance with TSX Venture Exchange policies, the Board of Directors has approved a grant of Restricted Share Units (‘RSUs’) to certain officers and directors.

      The Company granted an aggregate of 750,000 RSUs. The RSUs vest in three equal tranches over 36-months. Upon vesting, each RSU entitles the holder to receive one common share of the Company.

      About Apollo Silver Corp.

      Apollo is advancing the second largest undeveloped primary silver project in the US. The Calico Project hosts a large, bulk minable silver deposit with significant barite and zinc credits – recognized as critical minerals essential to the U.S. energy, industrial and medical sectors. Additionally, the Company has optioned Cinco de Mayo Project in Chihuahua, Mexico, which is host to a major CRD deposit that is both high-grade and large tonnage. Led by an award-winning management team, Apollo’s growth strategy is matched only by the scale of the opportunity ahead.

      Please visit www.apollosilver.com for further information.

      ON BEHALF OF THE BOARD OF DIRECTORS

      Ross McElroy
      President and CEO

      For further information, please contact:

      Email: info@apollosilver.com
      Telephone: +1 (604) 428-6128

      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.

      News Provided by GlobeNewswire via QuoteMedia

      This post appeared first on investingnews.com

      Keep Reading
      Load More