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February 20, 2025

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From Crash to Comeback: Is SMCI Stock the Hottest AI Asset Right Now?

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Super Micro Computer, Inc. (SMCI) stock surged over 50% after reporting earnings last week. The top and bottom line results weren’t stellar. The guidance, however, was enough to fuel a buying frenzy, driving the stock’s rally to a 110% gain this month. But is it sustainable?  Once SMCI pulls back, does it have the technical strength and fundamental conditions to make it a favorable trade?

SMCI set its revenue guidance to $40 billion by 2026, an ambitious target. Many analysts are skeptical, with several maintaining their “underweight” rating. Investors, on the other hand, are jumping in regardless, betting on increased AI infrastructure spending, particularly among giants like Meta (META), Amazon (AMZN), Alphabet (GOOGL), and Microsoft (MSFT).

With bulls and bears divided, what do the technicals say? What entry points and targets might the price action give us, if any? 

Let’s get started. Below is a weekly chart detailing SMCI’s two-year price action.

FIGURE 1. WEEKLY CHART OF SMCI STOCK.  The stock saw an impressive rise followed by an equally strong fall. Can it sustain its recovery? Chart source: StockCharts.com. For educational purposes.

From May 2023 to March 2024, SMCI saw a jaw-dropping rally of 1,167% from around $10 a share to $120. But then, it all came to a screeching halt as financial and regulatory concerns — specifically allegations of accounting and transaction irregularities — sent the stock into a prolonged tailspin. Over nearly a year of selling pressure, SMCI plummeted, finally hitting rock bottom at $23 in November.

Since then, SMCI has been attempting to recover, twice testing and finally breaking above resistance at the $50 range (see the highlighted yellow range). Interestingly, despite its year-long plunge, it still outperformed its broader industry, represented by the Dow Jones US Computer Hardware Index ($DJUSCR), by $297%.

So, what does the situation look like up close, and might there be an entry point? Let’s now shift over to a daily chart.

FIGURE 2. DAILY CHART OF SMCI STOCK. The trend is shifting, so it’s important to watch the key levels and momentum shift via the full stochastic oscillator. Chart source: StockCharts.com. For educational purposes.

First, note how the StockCharts Technical Rank (SCTR) score jumped well above the bullish 70-line. The shift from extreme technical weakness to technical strength potentially foreshadows a bullish shift in the trend. But it depends on how price responds to a few key levels.

The price looks a bit overextended. While runaway gaps tend not to get filled immediately within a week after the move, there’s still the likelihood that a pullback may occur in the next few sessions. The Stochastic Oscillator is well above 80, signaling a potentially overbought condition, although both lines (%K and %D) have been known to occasionally hover in either extreme (above 80 and below 20) for a prolonged period. 

About the stochastic oscillator, note how it signaled the (overbought) limit of each major swing high during the downtrend. If SMCI’s trend shifts upward, you will use the oscillator to anticipate potential swing lows throughout the uptrend. 

Concerning the trend, look at the ZigZag line highlighting the stock’s major swing points. For the bullish reversal to evolve into a full-fledged uptrend, it should remain above the most recent swing low point (see blue dotted line) near $25.  Before that, however, SMCI may rebound at the recently breached resistance level (yellow line). If it drops below this level, the next potential support is around $37.50 (blue line), which has acted as both support and resistance from last September to this February.

At the Close

If you’re considering a position in SMCI, here are your next steps:

  1. Add SMCI to your ChartLists.
  2. Monitor price action if SMCI pulls back, paying close attention to how it reacts to the key levels mentioned above.

A bounce off support could indicate a favorable entry point. However, if the price falls below $25, the bullish outlook becomes uncertain. A drop below $17.50 would invalidate the bullish thesis entirely.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

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Three Signs of the Bear and What May Come Next!

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I was taught that the most bullish thing the market can do is go up. And while the major equity averages are yet again at or near all-time highs, there are three macro technical signals that I’ve found to be very common at major market tops.

And while the prevalence of these signals does not guarantee a top will occur in February 2025, it tells me that until these conditions change, further upside could be limited from here.

The Magnificent 7 have transformed into the Meager 7. So which sectors or stocks might take the lead in 2025? Join me in our upcoming FREE webcast on Wednesday 2/26 at 1:00pm ET as we explore sector rotation trends, analyze growth vs. value dynamics, and spotlight stocks gaining momentum in Q1. Can’t make it live? No worries! Just register and I’ll send you the replay as soon as it’s ready. Sign up for Finding Value: The Great Rotation of 2025 today!

Let’s go through these signs of the bear, review recent examples, and discuss what we would need to see to reconfirm a new bull phase for stocks.

Bearish Momentum Divergences Suggest Bull Exhaustion

Our first common feature of bull market tops is a surplus of bearish momentum divergences. When prices move higher on stronger momentum, the uptrend is in good shape. But when prices push higher on weaker momentum readings, that suggests a dangerous situation where selling pressure is not yet being reflected in stock prices.

While I could share my chart of the S&P 500, or perhaps Alphabet (GOOGL) which featured a bearish momentum divergence going into its recent high, I’ll go with the daily chart of Synchrony Financial (SYF). Here we can see a clear pattern of higher highs in price from November 2024 through February 2025. But note how the RSI is sloping lower during this period.

When previous leadership names start to flash a pattern of weaker momentum, that illustrates how distribution is occurring which pushes an indicator like RSI lower even though the prices remain in an uptrend. And while this does not necessarily mean a top is in place, it tells me that the current uptrend phase should be brought into question.

Breadth Indicators Have Not Confirmed Recent Highs

Healthy bull markets are marked by improvement in market breadth indicators, as more and more stocks participate in the upside. In recent months, to the contrary, we have seen breadth indicators trending downward while the major averages are making new all-time highs.

Out of the breadth indicators I track on my Market Misbehavior LIVE ChartList, one of my favorites is the simple advance-decline line. And whether we’re looking at the S&P 500 members, the entire New York Stock Exchange, or even mid-caps or small caps, all of these advance-decline lines have been sloping down since November.

To be clear, a breakout in these cumulative advance-decline lines would display a very different picture, representing a broad advance and stronger breadth conditions. But until and unless the A-D lines can propel above their Q4 2024 highs, this remains a market with meager breadth readings.

Dow Theory Non-Confirmation Suggests Limited Upside

Finally, we have an updated version of Charles Dow’s original work comparing different market indexes, a strategy now known as “Dow Theory”. While Dow used the Dow Industrials and Dow Railroads, and though we could use the Dow Industrials and Dow Transports, I prefer to use an equal-weighted S&P 500 versus the equal-weighted Nasdaq 100.

The idea is that if both indexes are making new highs, then the bull market is confirmed. If one is breaking out while the other is now, this represents a “bearish non-confirmation” and suggests limited upside unless that divergence is negated.

The equal-weighted Nasdaq 100 did make a new high in February, pushing above its early December peak. The equal-weighted S&P 500, however, is still well below its own top from late November. Similar to the advance-decline analysis above, if both ETFs finally confirm new highs, then that would suggest further upside for the major equity averages. But for now, this non-confirmation has me questioning the sustainability of the current uptrend phase.

To be clear, my Market Trend Model is still bullish on all time frames, confirming that the primary trend remains positive for the S&P 500. The only way to anticipate a potential top is to look for similar conditions experienced in previous major tops. Based on the charts shared today, we may be nearing the exhaustion point of the current bull market phase.

RR#6,

Dave

PS- Ready to upgrade your investment process?  Check out my free behavioral investing course!

David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice.  The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.  

The author does not have a position in mentioned securities at the time of publication.    Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

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Unleash the Power of BPI: The Key to Boosting Your Investment Returns

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On Wednesday, the Federal Reserve released minutes from its January 28–29 meeting. There weren’t any surprises — the Fed wants to see inflation go lower before cutting interest rates again and would also like to see the impact of the new administration’s policies before making interest rate cut decisions. The takeaway: We won’t see rate cuts in the next Fed meeting.

The broader equity indexes rose after the Fed minutes were released, with the S&P 500 ($SPX) closing at a record high — that’s two consecutive record-high closes. The upside moves may not have been big spikes, but they were enough to show that investor sentiment is bullish and market breadth is improving. Bond prices also rose slightly. 

Sector Strength

The Bullish Percent Index, an amazing indicator that gives you an indication of the internal health of an index or sector, displayed significant gains for several indexes and sectors. The S&P Industrials Sector BPI ($BPINDY) and the S&P Technology Sector BPI ($BPINFO) gained over 5%, the S&P Healthcare Sector BPI ($BPHEAL) gained over 3.50%, and the Nasdaq 100 BPI ($BPNDX) gained almost 3%.

Let’s look at the charts of the Industrials BPI and Technology BPI. The chart of the Industrials BPI (see below) shows that it has just crossed over the 50 level, an indication the sector is gaining bullish strength. The daily chart of the Industrial Select Sector SPDR Fund (XLI), a proxy for the Industrial sector, is still trading sideways and its 50-day simple moving average (SMA) is still trending lower (see chart below). However, if the BPI of the sector rises higher, there could be an upside move in this sector. 

FIGURE 1. DAILY CHART OF THE S&P INDUSTRIALS SECTOR BPI AND INDUSTRIAL SELECT SECTOR SPDR ETF. The bullish move isn’t evident in the chart of XLI but if $BPINDY continues to rise, XLI could move toward its all-time high. Chart source: StockCharts.com. For educational purposes.

Shifting to the daily chart of $BPINFO, it’s clear that BPI is above 60, indicating bulls are in control in this sector. The Technology Select Sector SPDR ETF (XLK) is at its all-time high, which could be toppy. A break above this level would be bullish for the Tech sector. 

FIGURE 2. DAILY CHART OF $BPINFO. The Technology sector is more bullish than the Industrials, but it could be getting toppy. A break above prevailing levels could mean the Tech sector still has legs. Chart source: StockCharts.com. For educational purposes.

Market Participation

Overall, there looks to be broader participation in the stock market. The S&P 500 Equal Weighted Index ($SPXEW) is moving higher (see chart below) but is battling against a resistance level (green line). A break above its current level clears the path for the index to reach its 52-week high. 

FIGURE 3. DAILY CHART OF THE S&P 500 EQUAL WEIGHTED INDEX. The index is moving higher but has hit resistance. A break above this resistance level would confirm broader market participation. Chart source: StockCharts.com. For educational purposes.

Closing Position

Despite the uncertainty surrounding the stock market, the markets are leaning to the bullish side. We’re seeing upside movement in other asset classes besides the Mag 7 stocks. Monitor the BPI of various indexes and sectors. The simplest way is to follow these steps:

  • Download the Essentials ChartPack.
  • The US Sectors – Bullish Percent Indexes ChartList contains the BPI of all the sectors.
  • The Market & Index Bullish Percent Indexes ChartList contains BPIs of various indexes.
  • The US Industries – Bullish Percent Indexes ChartList contains charts of two indexes.
  • You can modify these ChartLists by adding/deleting symbols.
  • Monitor your ChartLists regularly.

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Top 10 Cobalt Producers by Country

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Battery metal cobalt has been in focus in recent years for its role in lithium-ion batteries, bringing attention to the top cobalt producing countries.

One of the metal’s main catalysts is the electric vehicle roll out. The lithium-ion batteries that power electric vehicles and energy storage require lithium, graphite and cobalt, among other raw materials, and demand for these important commodities is expected to keep rising as the shift toward clean technologies continues at a global scale.

Additionally, the metal is predominantly produced as a by-product of copper and nickel, two other metals that are important for the green transition.

However, supply growth in many of the battery metals has out scaled near-term demand, leading to a price pullback over the last two years. The cobalt market trended downwards in 2024, with prices falling 10 percent from July to September. While they stabilized for a few months, cobalt prices fell further in early 2025.

The cobalt market in 2025 is expected to largely remain stable as oversupply and shifting battery chemistries curb price volatility. The rise of lithium-iron-phosphate (LFP) batteries, particularly in China, continues to erode demand for cobalt chemicals, pressuring sulfate refiners and price growth.

Meanwhile, Indonesia’s expanding mixed hydroxide precipitate (MHP) production offers an alternative to the Democratic Republic of Congo (DRC), but adds to an already full market.

“Oversupply has been the dominant driving force for cobalt prices since 2023,” said Roman Aubry of Benchmark Mineral Intelligence, adding that this trend is likely to persist.

Longer term demand is projected to rise from 213,000 metric tons in 2023 to 454,000 metric tons by 2040, leading to a 16 percent shortfall by 2035, according to the International Energy Agency.

Investors interested in the sector should learn the top cobalt producers by country. According to the US Geological Survey, world production has increased significantly over the past two years.

In 2024, global production reached 290,000 metric tons (MT), representing a 21 percent increase from 2023’s 230,000 MT. Annual output has grown by 75 percent since 2021, when global cobalt mine supply totaled 165,000 MT.

Read on for a closer look at where cobalt is mined and which countries lead in production.

1. Democratic Republic of the Congo

Cobalt production: 220,000 metric tons

In 2024 the Democratic Republic of the Congo (DRC) produced 220,000 metric tons of cobalt, making it the world’s largest producer of cobalt, by far. Annual output from the country accounted for roughly 84 percent of all global production.

The DRC has been the top producer of the metal since 2003, and is likely to remain a crucial supplier to the cobalt market for the foreseeable future. However, cobalt mining in the DRC is plagued by human rights abuses and child labor due to widespread unregulated artisanal mining.

Efforts to regulate the sector and increase safety include the 2019 creation of state-owned Entreprise Générale du Cobalt, which struggled initially but secured exclusive mining rights to five areas through a 2024 agreement with state miner Gecamines.

Aside from that, the DRC’s mines minister formally approved the ASM Cobalt Standard in 2022, and plans for assessing its effectiveness at pilot sites are being developed. The framework for a regulated artisanal mining sector was drafted by the Responsible Minerals Initiative, in cooperation with both global and local stakeholders.

Outside the DRC’s artisanal mining sphere, cobalt is largely produced as a by-product of copper mines, including the Tenke Fungurume mine, owned by the CMOC Group (OTC Pink:CMCLF,HKEX:3993); and the Mutanda mine and Katanga complex, which are majority owned by Glencore (LSE:GLEN,OTC Pink:GLCNF). Another significant producer is the Metalkol Roan Tailings Reclamation mine, a tailings processing operation owned by Eurasian Resources Group.

In early 2025, the CMOC Group — the world’s largest cobalt miner — revealed plans to maintain record production levels, forecasting output between 100,000 and 120,000 MT in 2025 after producing 114,165 MT in 2024.

The company’s rapid expansion at its Tenke Fungurume and Kisanfu mines in the Democratic Republic of Congo has doubled production, contributing to a supply glut that has driven cobalt prices to their lowest levels since 2016.

2. Indonesia

Cobalt production: 28,000 metric tons

Indonesia cobalt production topped 28,000 metric tons in 2024. Mined supply has steadily increased in the country, growing by 937 percent since 2021, when annual output sat at 2,700 MT.

Indonesia’s battery metals sector grew rapidly after its 2020 nickel ore export ban, which attracted Chinese investment in Indonesian battery metals processing. Increased cobalt production stems from four new high-pressure acid leaching (HPAL) facilities processing ore into mixed hydroxide precipitate for export.

The first two HPAL operations came online in 2021 as part of the existing Indonesia Morowali Industrial Park: one run by Huayue, a partnership between Zhejiang Huayou Cobalt (SHA:603799), Tsingshan Holding Group and CMOC Group; and one run by Halmahera Persada Lygend, owned by Lygend Resources (HKEX:2245) and Trimegah Bangun Persada (IDX:NCKL).

In late 2022, a third HPAL facility entered production, this one developed by QMB New Materials, a joint venture between Tsingshan, GEM (SZSE:002340), CATL (SZSE:300750) and Hanwa (TSE:8078). Huayou also launched the Huafei HPAL facility in 2023, which has annual capacity of 15,000 MT of cobalt.

In mid-2024, partners Eramet (EPA:ERA) and chemical producer BASF (OTCQX:BFFAF,FWB:BASF) decided against executing the planned US$2.6 billion Sonic Bay nickel-cobalt hydrometallurgical complex due to nickel market dynamics, including low prices and oversupply. Sonic Bay would have processed ore from the Weda Bay nickel mine to produce 7,500 MT of cobalt and 67,000 MT of nickel per year.

According to a market report released in May 2024 from the Cobalt Institute, Indonesia has the potential to triple its 2023 cobalt output by 2030. In the same vein, the report estimates that Indonesia’s 2030 cobalt output will make up 16 percent of global production compared to 1 percent in 2021 and 5 percent in 2022.

While companies look to grow Indonesia’s cobalt presence, international concerns have been mounting about the impact of increased mining activity on the nation’s marine ecosystems. Much of the apprehension stems from mining activity in Raja Ampat Regency, a group of tropical islands near West Papua. The area houses 75 percent of the world’s coral species and more than 1,500 fish species. It was designated a UNESCO Global Geopark in 2023.

3. Russia

Cobalt production: 8,700 metric tons

Russia’s cobalt production in 2024 came in at 8,700 metric tons. While both the DRC and Indonesia saw significant growth, Russia’s annual tally remained unchanged from the previous year, despite the country boasting large cobalt reserves of 250,000 MT.

Large Russian miner Norilsk Nickel produces cobalt and is among the world’s top five producers of the mineral.

With concerns about DRC cobalt running high, some automakers have been calling for increased electric vehicle battery production in Europe. There was hope that this push could boost Russia’s future cobalt production — however, that may now be out of the question while the country wages war against Ukraine.

In April 2022, the US hit Russian cobalt with a 45 percent duty. The sanctions on Russian and Belarusian cobalt were extended in June 2024, and in September the US imposed a 25 percent tariff on Chinese cobalt.

Similarly, in December 2023, the UK government expanded its sanctions targeted at Russia to include an embargo of several critical metals, including tungsten, cobalt and tantalum.

4. Canada

Cobalt production: 4,500 metric tons

Canada produced 4,500 MT of cobalt in 2024, with most mined supply originating in the provinces of Ontario, Newfoundland and Labrador, Manitoba and Québec. The nation has an estimated 230,000 MT of cobalt reserves.

In 2022, Canada released its Critical Minerals Strategy, which included cobalt in its list of 31 minerals and metals the country had deemed “critical” for the energy transition, national defense and economic growth.

According to the Canadian government, cobalt and cobalt-containing exports fell by 30 percent year-over-year in 2023 to C$567 million, down from C$813 million in 2022.

Key export destinations included Norway (19 percent), South Korea (15 percent), China (15 percent), the Netherlands (15 percent) and the US (13 percent), with shipments consisting of cobalt metallurgy intermediates, waste and scrap.

Vale (NYSE:VALE) and Glencore are two of the largest cobalt producers in Canada, producing the metal as a byproduct at several mines each.

5. The Philippines

Cobalt production: 3,800 metric tons

The Philippines is the fifth largest cobalt producer in the world with production of 3,800 metric tons in 2024, the same as its 2023 output. The Asian country is also a top nickel producer.

The fate of mining in the Philippines was up in the air for a while as former President Rodrigo Duterte and former Environment Secretary Roy Cimatu called for a shutdown of all mines in the country based on environmental concerns. However, Duterte seemed to have a change of heart in early 2021, lifting a ban on new mine permits in an effort to boost revenues.

His successor, President Bongbong Marcos, has ordered the country’s Department of Environment and Natural Resources to enforce stricter guidelines and safety protocols on both small- and large-scale mines. He hopes to bring illegal mining operations into compliance so they can operate legally and with safer conditions for employees.

In April 2024, the US reaffirmed plans for a supporting grant for Eramen Minerals to develop a nickel and cobalt processing plant in the Philippines, boosting the country’s downstream mineral industry.

6. Australia

Cobalt production: 3,600 metric tons

Australia’s annual cobalt production fell to 3,600 metric tons in 2024, contracting 31 percent from 5,220 MT in 2023. Despite the contraction, the island nation’s cobalt reserves are the second largest in the world at 1.7 million MT.

As is the case for many other countries on this list, cobalt is produced in Australia as a by-product of copper and nickel mining. The country’s nickel mines are located in the western part of the country, mostly around the Kalgoorlie and Leonora regions.

Additionally, the Australian government has been sending geologists to search for cobalt in mine waste, an effort that bore fruit when Queensland geologist Anita Parbhakar-Fox tested a copper mine waste sample that graded 7,000 parts per million cobalt.

The CEO of Australian company Cobalt Blue Holdings (ASX:COB,OTC Pink:CBBHF) described the discovery as a game changer to the Financial Times, estimating there could be up to 300,000 MT of cobalt in Australian mine waste.

Another important cobalt project in the country under Cobalt Blue is the Broken Hill project, which will allow for cobalt production on-site, rather than extracted as a by-product of nickel. The company’s planned Kwinana facility will produce battery-grade cobalt sulfate from third-party feedstock as well as Broken Hill ore.

7. Cuba

Cobalt production: 3,500 metric tons

Cuban cobalt production made a modest gain in 2024 to 3,500 MT, up from 2023’s to 3,200 metric tons, but still short of the 3,700 MT mined in 2022.

The country’s Moa region is home to the Moa joint venture nickel-cobalt operation held by Canadian firm Sherritt International (TSX:S,OTC Pink:SHERF) and the General Nickel Company of Cuba.

Moa uses an open-pit mining system to produce lateritic ore, which is processed into mixed sulfides containing nickel and cobalt using HPAL. The country’s state-owned nickel miner is the sole operator of the Che Guevara processing plant at Moa.

In October 2024 operations at Sherritt’s Moa mine were temporarily reduced due to an island-wide blackout caused by a tropical storm. By October 28, the project returned to full operating capacity. According to annual financial results released on February 5, cobalt production from Moa totaled 3,206 MT, which the company says was within the guidance target range.

8. Papua New Guinea

Cobalt production: 2,800 metric tons

In 2024, Papua New Guinea produced 2,800 metric tons of cobalt. Like other nations on the list, the small country off the coast of Australia produces cobalt as a by-product of nickel production. Additionally, the country has remained on the top 10 producers list for the last seven years.

The country’s main cobalt producer is the Ramu nickel mine near Madang, a joint venture between private company MCC Ramu NiCo, Nickel 28 Capital (TSXV:NKL,OTC Pink:CONXF) and the Papua New Guinea government.

A mid-October report from Benchmark noted that by 2030, Chinese companies are expected to control 85 percent of cobalt output from Papua New Guinea, enhancing China’s global share of mined cobalt supply to 46 percent.

In January 2025, it was reported that Nickel 28 is considering a US$1 billion expansion at the Ramu mine that would aim to double annual output. The company’s 2025 guidance notes that cobalt output should remain steady this year at 2,900 MT.

9. Turkey

Cobalt production: 2,700 metric tons

In 2024, Turkey produced 2,700 MT of cobalt. Turkey’s output has been on a steady uptick in recent years, rising from 2,100 MT in 2022 to 2,500 metric tons in 2023 and even higher last year. The nation also boasts reserves totaling 91,000 MT.

A 2021 report from the British Geological Survey underscored the importance of Turkey’s cobalt potential amid the energy transition, noting “the greatest cobalt resource potential lies in laterite deposits in the Balkans and Turkey and in magmatic and black shale-hosted deposits in Fennoscandia.”

It went on to point out that in the Balkans and Turkey, 27 nickel laterite deposits are known to contain cobalt in significant quantities, with several deposits holding over 10,000 MT of cobalt metal. Currently, only nickel is extracted from these deposits, but advancements in processing technologies like high-pressure acid leaching may allow for cobalt recovery in the future.

The country’s Meta nickel-cobalt mine in Gördes is one of only a few nickel mines in Europe, making it important to the EU’s ability to meet European demand for electric vehicle battery materials. In September 2024, the planned expansion of the mine sparked local resistance, as community members raised concerns that the project was destroying forests, draining water and harming agriculture.

10. Madagascar

Cobalt production: 2,600 metric tons

Madagascar’s cobalt-production fell to 2,600 metric tons in 2024, a 53 percent decline from 2023’s 4,000 MT.

Much of the country’s cobalt production comes from the Ambatovy nickel-cobalt mine, owned through a joint venture by Japanese company Sumitomo (TSE:8053) and a Korean state-owned entity. The mine has faced production and profitability issues.

In August 2024, the companies submitted a debt restructuring plan to a London court. According to media reports, Sumitomo, the project’s major shareholder, has accumulated 410 billion yen in losses stemming from the project, including a 265.5 billion yen total impairment loss.

Most recently, in October, a pipeline moving ore from the mine to a processing and refining plant had to be shut down due to damage. While production began slowly ramping up at the end of the month, Ambatovy’s future remains uncertain.

FAQs for cobalt production

What is the most common source of cobalt?

As cobalt is only found in a chemically combined form, it must be separated from mined ore. Most commonly, cobalt is produced as a by-product at copper or nickel mines. According to Benchmark Minerals, currently three-quarters of cobalt is produced from copper-primary mines and 25 percent is produced from nickel-primary mines. The agency forecasts that by 2030, cobalt production from copper-primary mines will fall to 57 percent, while that from nickel-primary mines will rise to 41 percent.

How rare is cobalt on Earth?

Cobalt is the 32nd most common element on Earth, according to the Cobalt Institute, meaning it isn’t particularly rare. However, only a handful of countries have cobalt reserves over 300,000 MT, with the DRC coming in first place at 4 million MT, Australia in second at 1.5 million MT and Indonesia coming in third place with 600,000 MT. In fact, the DRC has higher cobalt reserves than the rest of the world combined.

How many years of cobalt are left?

How long it will take to deplete cobalt reserves and resources depends on the approach and speed with which electrification and a fully renewable society is approached, according to a 2019 study. Another factor is whether or not lithium-ion battery formulas that require cobalt will continue to be the norm in the future. If widespread cobalt substitution does take place, that will ease demand pressures on the metal.

Why is cobalt so valuable?

Cobalt has risen in recent years due to supply chain difficulties and the metal’s necessity in many lithium-ion battery cathodes, with prices peaking in March and April 2022 at over US$80,000 per MT. However, prices have fallen since then, and sat around the US$21,500 mark as of February 2025. The EV story has led to increased cobalt supply, meaning that there will be short-term price pressures due to oversupply as demand continues to rise in the coming years.

What is the problem with cobalt mining?

Most cobalt production takes place in the DRC, which is known for artisanal mining. Artisanal miners are adults and children who are not employed by mining companies, but mine independently using their own tools or just their hands.

A 2023 ABC news report on the country’s artisanal mining industry estimates that 200,000 artisanal miners are working on cobalt deposits; unfortunately, a lack of oversight and safety measures means injuries and death are more frequent than in regulated mining. While organizations are working to keep the supply chain transparent, it is hard to fully avoid cobalt that is sourced through child labor and human rights abuses.

Other countries are not exempt from concerns related to mining cobalt — Indonesia’s burgeoning cobalt production comes with the vast environmental concerns that plague the nation’s nickel industry.

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

This post appeared first on investingnews.com

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Lode Gold Sets Date for Shareholder Meeting to Approve Plan of Arrangement for Spinout Monday, March 10, 2025 at 10AM MST

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Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: LODFF) (‘Lode Gold’ or the ‘Company’) is pleased to announce that a shareholder meeting has been scheduled to approve the plan of arrangement for the tax-efficient spinout of Gold Orogen. The meeting will take place on Monday, March 10, 2025, at 10:00 AM MST. Details regarding Lode Gold’s Annual General Meeting (AGM) are available on our website: https:lode-gold.cominvestors2024-agm.

The two companies will trade as separate entities upon court filing with the court, 5 to 10 days after shareholder and TSX-V approval.

Before the Record Date, all Lode Gold shareholders will receive Gold Orogen spinout shares. The Company plans to close its private placement by March 10, 2025. Each $0.18 unit includes one common share and a warrant, allowing the holder to buy a share at $0.35 for three years after closing.

Upon completion of the spin-off, the Companies will be structured as follows:

Gold Orogen (Spin Co.)

Gold Orogen is an exploration pure play with two choice assets. Both assets are located in highly prospective areas and each can potentially be a company maker and a standalone asset.

Asset 1:

  • 27 km strike, 99.5 km2 in Yukon, prolific Tombstone Belt (Snowline, 3 Aces, Rackla)
  • Total of 4 Reduced Intrusive Targets (RIRGS similar to Snowline)

Confirmed on WIN:

  • Signature host rocks, hornfels and reduced intrusives
  • High bismuth to gold ratio, gold-bearing sheeted quartz veins

Asset 2:

  • New Brunswick: created one of the largest land packages at 445 km2
  • Geological analogue to New Found Gold, Galway, Calibre Mining
  • Confirmed gold endowment – mineralized rhyolites (same geology as Puma-Kinross)

Lode Gold (Parent): Underground Mine Potential (previously mined at 10.7 g/t Au)

The Fremont Gold project is located on the Mother Lode Belt Lode Gold on patented private land in Mariposa County. Lode Gold is the first owner since mining suspension in 1942, to evaluate the project as an underground opportunity.

  • Fremont: 4km strike on the Mother Lode Belt
  • Private patented land: 3,351 acres, 100% owned in Mariposa County (Need County Approval; 5 Supervisors oversee County*) *County: 17,000 and Town: 2,000 people
  • Mariposa is designated as one of Trump Administration’s Opportunity Zones, designated for expedited investments and tax incentives
  • California: 700 permitted mines; 14 gold mines
  • Target: 2 Moz underground 4 g/t Au (Previously mined in the 1930’s at 10.7 g/t)
  • Typical Orogenic Deposit with Structure & Controls
  • 3 Step-Out Holes hit structure and were mineralized (up to 1300m)
  • 2 nearby mines were up to 1,800m deep at 13 g/t
  • Brownfield with 23 km of underground workings and over 43,000 m drilled (cores preserved)
  • Only 8% of the MRE exploited; mostly in the first 250 m; much has been left unmined
  • 2023 MRE: 1 Moz (M&I) + 2 Moz (Inf)
  • 2023 PEA at USD $2,000/oz Au: After-tax NPV (5%) USD $370M, 31% IRR, 11 years LOM
  • Close to road, rail, power, water
  • Mine suspended in 1942 for the war effort

About Lode Gold

Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

In Canada, its Golden Culvert and WIN Projects in Yukon, covering 99.5 km2 across a 27-km strike length, are situated in a district-scale, high grade gold mineralized trend within the southern portion of the Tombstone Gold Belt. A total of four RIRGS targets have been confirmed on the property. A NI 43-101 technical report has been completed in May 2024.

In New Brunswick, Lode Gold has created one of the largest land packages with its Acadian Gold JV Co; consisting of an area that spans 445 km2 and a 44 km strike. McIntyre Brook covers 111 km2 and a 17-km strike in the emerging Appalachian/Iapetus Gold Belt; it is hosted by orogenic rocks of similar age and structure as New Found Gold’s Queensway Project. Riley Brook is a 335 km2 package covering a 26 km strike of Wapske formation with its numerous felsic units. A NI 43-101 technical report has been completed in August 2024.

In the United States, the Company is advancing its Fremont Gold project. This is a brownfield project with over 43,000 m drilled and 23 km of underground workings. It was previously mined at 10.7 g/t Au in the 1930’s.

Mining was halted in 1942 due the gold mining prohibition in World War Two (WWII) just as it was ramping up production. Unlike typical brownfield projects that are mined out, only 8% of the veins have been exploited. The Company is the first owner to investigate an underground high grade mine potential at Fremont.

The project is located on 3,351 acres of private and patented land in Mariposa County. The asset is a 4 km strike on the prolific 190 km Mother Lode Gold Belt, California that produced over 50,000,000 oz of gold and is instrumental in the creation of the towns, the businesses and infrastructure in the 1800s gold rush. It is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail.

Previously, in March 2023 the company completed an NI 43 101 Preliminary Economic Assessment (‘PEA’). A sensitivity to the March 31, 2023 PEA at USD $2,000/oz gold gives an after-tax NPV of USD $370M and a 31% IRR over an 11-year LOM. At $1,750 /oz gold, NPV (5%) is $217M. The project hosts an NI 43-101 resource of 1.16 Moz at 1.90 g/t Au within 19.0 MT Indicated and 2.02 Moz at 2.22 g/t Au within 28.3 MT Inferred. The MRE evaluates only 1.4 km of the 4 km strike of Fremont property. Three step-out holes at depth (up to 1200 m) hit structure and were mineralized.

All NI 43-101 technical reports are available on the Company’s profile on SEDAR+ (www.sedarplus.ca) and the Company’s website (www.lode-gold.com)

ON BEHALF OF THE COMPANY

Wendy T. Chan, CEO & Director

Information Contact

Winfield Ding
CFO
info@lode-gold.com
+1-604-977-4653

Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (647) 725-3888 ext. 702

Cautionary Note Related to this News Release and Figures

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties.

Cautionary Statement Regarding Forward-Looking Information

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.

This news release includes ‘forward-looking statements’ and ‘forward-looking information’ within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the use of proceeds, advancement and completion of resource calculation, feasibility studies, and exploration plans and targets. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘potential’, ‘target’, ‘budget’ and ‘intend’ and statements that an event or result ‘may’, ‘will’, ‘should’, ‘could’ or ‘might’ occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: the status of community relations and the security situation on site; general business and economic conditions; the availability of additional exploration and mineral project financing; the supply and demand for, inventories of, and the level and volatility of the prices of metals; relationships with strategic partners; the timing and receipt of governmental permits and approvals; the timing and receipt of community and landowner approvals; changes in regulations; political factors; the accuracy of the Company’s interpretation of drill results; the geology, grade and continuity of the Company’s mineral deposits; the availability of equipment, skilled labour and services needed for the exploration and development of mineral properties; currency fluctuations; and impact of the COVID-19 pandemic.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include a deterioration of security on site or actions by the local community that inhibits access and/or the ability to productively work on site, actual exploration results, interpretation of metallurgical characteristics of the mineralization, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, unknown impact related to potential business disruptions stemming from the COVID-19 outbreak, or another infectious illness, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading ‘Risks and Uncertainties’ in the Company’s most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241602

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StrategX Discovers High-Grade Copper at East Arm, Great Slave Lake, Northwest Territories, Canada

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StrategX Elements Corp. (CSE: STGX) (‘StrategX’ or the ‘Company’) is pleased to announce the discovery of high-grade copper mineralization at its East Arm Copper Project (‘East Arm’). Recent surface sampling has returned copper values ranging from 1% to 10%, underscoring significant exploration potential within a 2-km corridor of sedimentary-hosted mineralization accessible from the Great Slave Lake. Encouraged by these results, the Company has expanded its property position by staking an additional 6,425 hectares in the area.

StrategX’s copper targets at East Arm are situated along a major continental-scale craton margin, hosted in Paleoproterozoic sediments, and occur on trend with the Pine Point Zinc mine, currently being developed by Osisko Metals. For further details, refer to Figures 1-4.

Key Highlights:

  • High-Grade Copper Mineralization: Surface rock chip samples have returned copper values of up to 10.1% Cu, with mineralization hosted in Paleoproterozoic sediments along the Murky Channel Fault. The results align with a sedimentary-hosted copper deposit model.
  • Significant Copper & Silver Values: Copper mineralization includes chalcocite and covellite-both key high-grade copper minerals-accompanied by elevated silver values up to 54.5 g/t.
  • Advancing Exploration: StrategX is compiling historical exploration data to refine targets and design a modern drill-focused exploration program. Historical surface sampling has reported copper values ranging from 2% to 35% Cu over a 2-km trend (see Figures 2 & 3).

A summary of the recent high-grade copper assay results from the Company’s sampling program is presented in Table 1.

Table 1 – StrategX Assay Results (2024)
Northing Easting Silver
(Ag) ppm		 Copper
(Cu) ppm		 Copper (Cu) %
488362 6903463 24.9 >10000 1.28
488374 6903459 54.5 >10000 5.11
488415 6903479 7.0 >10000 6.05
488440 6903303 0.7 336 0.03
488395 6903282 1.9 267 0.03
488384 6903272 1.4 661 0.06
488376 6903258 2.8 1320 0.13
488432 6903261 1.1 52.5 0.01
488444 6903278 0.6 249 0.03
488483 6903343 10.0 >10000 2.65
488559 6903391 42.6 >10000 10.10
488585 6903403 33.2 >10000 2.91

 

East Arm Copper Project Overview

The East Arm Copper Project is easily accessible, located 315 km northeast of Hay River Harbour, a major transportation hub connecting to Alberta via highway. StrategX’s mineral claims can be reached by boat, with the nearest community, Łutselk’e, accessible via a 45-minute scheduled flight from Yellowknife (see Figure 1).

Recent fieldwork on the westernmost area of East Arm has confirmed high-grade copper hosted in brecciated sediments, expanding the known footprint of copper showings (Figures 2 & 3). The area has not been explored since the 1970s, when isolated historical blasted trenches revealed highly anomalous copper values. Historical reports also describe extensive chalcopyrite, bornite, and chalcocite mineralization, though no assay data was recorded. Figure 4 provides photos of high-grade copper mineralization observed in recent surface rock samples collected by the Company.

 Figure 1: Location of the East Arm Copper Project and recent staking completed in the Murky Channel high-grade copper target area

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8512/241584_8cbca75574e36baa_005full.jpg

Figure 2: Location of high-grade copper showings at Murky Channel area.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8512/241584_figure2.jpg

Figure 3: A view to the northeast of the East Arm Copper showings along the Murky Channel Fault.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8512/241584_figure3.jpg

Figure 4: Photos 1, 2, 3a-b are referenced in Figure 2 as to their location in the field.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8512/241584_figure4.jpg

Next Steps

  • Detailed petrographic analysis of copper mineralization and sedimentary host rock.
  • Ongoing compilation of historical data to refine drill targets.
  • Comparative studies of world-class sedimentary-hosted copper deposits to assess potential.
  • Complete surface geochemical and geophysical surveys.
  • Geological mapping and prospecting to further delineate high-priority targets.

StrategX is excited to advance field exploration at East Arm in the coming months, with the goal of defining drill targets and potentially discovering a significant high-grade copper deposit in the Northwest Territories.

Importance of Copper

  • Key to the Green Energy Transition – Copper is essential for electric vehicles, renewable energy systems, and global electrification, playing a crucial role in building a sustainable future.

  • Rising Demand vs. Limited Supply – Global demand for copper is projected to significantly exceed supply, driven by infrastructure expansion, electrification, and technological advancements.

  • Aging Mines & the Need for New Discoveries – Many of the world’s largest copper mines are reaching depletion, increasing the urgency for new high-grade deposits.

  • Scarcity of High-Grade Copper – Industry experts highlight that high-grade copper deposits are becoming increasingly rare, making new discoveries highly valuable.

  • Market Growth & Investment Potential – Copper prices have trended upward again, above US$4 per lb (the record all-time high was $5.20 per lb in May of 2024), fueled by supply shortages, growing industrial demand, and its critical role in the global economy.

Qualified Person

The geological and technical data contained in this press release were reviewed and approved by the Vice President – Exploration for StrategX, Gary Wong, P.Eng., a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Analytical Methods & QA/QC Protocols

Grab samples, by their nature, are selected samples and may not be indicative of underlying mineralization.

The analytical work reported herein was performed by ALS Global (‘ALS’), Vancouver, Canada. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geochemistry laboratory and is independent of the Company and the QP.

Samples were crushed entirely to 70% passing – 2mm, 250g split off and pulverized to better than 85% passing 75 microns. Multi-Element Ultra Trace uses a four-acid digestion performed on 0.25g sample to quantitatively dissolve most geological materials, culminating in analytical analysis performed with a combination of ICP-AES and ICP-MS (method ME-MS61). Overlimit samples (> 10,000 ppm Cu) were then subjected to Cu-OG62 method, which uses a four-acid digestion and an ICP finish on a 0.4g sample.

No external QA/QC samples were inserted because of the relatively small program size and the fact that these were field grab samples.

About StrategX

StrategX is an exploration company focused on discovering critical metals in northern Canada. With projects located on the East Arm of the Great Slave Lake (Northwest Territories) and the Melville Peninsula (Nunavut), the Company is pioneering new discoveries in these underexplored regions. By integrating historical data with modern exploration techniques, StrategX provides investors with a unique opportunity to participate in new critical metal district discoveries. These essential metals play a key role in global electrification, the green energy transition, and national supply chain security. For the latest updates and insights, visit our Investor Portal.

On Behalf of the Board of Directors

Darren G. Bahrey
CEO, President & Director

For further information, please contact:

StrategX Elements Corp.
info@strategXcorp.com
Phone: 604.379.5515

For further information about the Company, please visit our website at www.strategXcorp.com

Neither the Canadian Securities Exchange nor its regulation services accept responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241584

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Asara Raises $2.3M in Placement to Underpin Exploration Program at Kada and Makes Executive Changes

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Asara Resources Limited (ASX: AS1; Asara or Company) is pleased to announce that it has signed a binding Subscription Agreement with Barbet L.L.C FZ (Barbet) to raise $2.3m (Placement) which affirms Barbet’s commitment to the Company and its flagship asset, the Kada Gold Project in Guinea (Kada).

Following completion of the Placement, Mr. Timothy Strong has stepped down as Managing Director and Mr. Matthew Sharples has been appointed Chief Executive Officer. Mr. Strong will remain on the Board as Executive Director – Corporate Strategy & Affairs.

Executive Director, Tim Strong commented:

‘’We are pleased that Barbet have continued to show their commitment to the Company and its flagship Kada project by participating in a further Placement. This Placement will allow the Company to fastrack its exploration efforts.

I am also delighted to welcome Matt Sharples to the management team. Matt, who joined the Company as a consultant in October 2024, has been instrumental in recommencing operations at Kada. Matt provides a wealth of knowledge, and an undeniable passion for Guinea and I look forward to supporting him as we move the Kada project through the value chain towards a feasibility study. Both Matt and I are confident of the resource potential of Massan and the surrounding areas which will be drill tested in the coming months.’’

Placement Details

The Placement is comprised of the issue of 104,517,541 fully paid ordinary shares (Placement Shares) at an issue price of $0.022 raising $2,299,385.90 (before costs). per share. Following the Placement, Barbet holds 19.89% of the Company.

The proceeds of the Placement will be applied towards an upcoming drill program and exploration activities at Kada and general working capital. The Placement Shares will be issued under the Company’s existing placement capacity under ASX Listing Rule 7.1, and accordingly no shareholder approval is required. The Placement Shares will rank pari passu with existing securities on issue.

Executive Changes

Chief Executive Officer

Matthew has been appointed Chief Executive Officer, effective 14 February 2025. Matthew Sharples is a mining professional with over 20 years of experience in mine development, investment consulting and M&A. Matt specialises in the geological evaluation and development of gold projects, with a particular focus on project development from the initial stage to production.

Matt was Co-Founder and CEO of the private mining fund Sycamore Mining. Under his stewardship, the group’s flagship asset, the Kiniero Mine (Guinea), grew from a total resource base of 1.5Moz Au to 3.5Moz Au (JORC) and was sold to Robex Resources in 2022 for a project valuation of US$160m. Matt has worked worldwide in the mining and resources industry, in the UK, Africa, Asia and Australia, with Robex, Sycamore, Wood Mackenzie, Xstrata and BHP Billiton.

Matt holds an MSc in Basin Evolution and Dynamics, Royal Holloway, University of London, United Kingdom, and a BSc in Geology, University of Durham, United Kingdom. Matt is a director and shareholder of substantial shareholder, Barbet L.L.C FZ.

The material terms of Matthew Sharple’s employment agreement are as follows:

Click here for the full ASX Release

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Red Metal Resources Planning 2025 Work Program on 100% Owned Hydrogen-Prospective Mineral Claim Package Spanning Quebec and Ontario

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Red Metal Resources Ltd. (CSE: RMES) (OTC Pink: RMESF) (FSE: I660) (‘Red Metal’ or the ‘Company’) is pleased to announce that it is planning a Phase 1 work program and data compilation for its recently acquired, 100% owned, portfolio of highly prospective mineral claims and mineral claim applications, consisting of seven separate claim packages, covering 172 mineral claims and totaling over 4,546 hectares.

These highly prospective claim packages are located to the North, Northeast and the Southwest of Quebec Innovative Materials Corp.’s (‘QIMC’) recent hydrogen-in-soil discovery in the Saint-Bruno-de-Guigues area, of over 1,000 ppm, announced on September 4th 2024, as well as covering similar geology to the west located in the Larder Lake Mining District of Ontario, along the Quebec border near the town of Ville-Marie, QC.

Figure 1. RMES 7 Mineral Claim blocks in Ontario and Quebec in proximity to recent Hydrogen discovery

To view an enhanced version of this graphic, please visit:
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These claim blocks are contiguous on three sides to Quebec Innovative Materials Corp. and cover possible extensions in multiple directions. To date, 164 of the 172 claims have been approved by the Quebec Ministry of Natural Resources and Forests and the Ontario Ministry of mines.

Ontario’s Firstbrook Township hosts documented occurrences of copper, lead, cobalt, silver and kimberlite. The area boasts excellent infrastructure, including power and easy road access.

Geologic or white hydrogen offers a clean, renewable and potentially abundant source of energy with a range of environmental and economic benefits. Its carbon-free nature, high energy density and compatibility with existing infrastructure make it a promising solution for meeting future energy needs and achieving global climate goals.

Red Metal Resources President and CEO, Caitlin Jeffs stated,‘We have established a significant and highly prospective claim package covering 172 mineral claims and totaling over 4,546 hectares to the North, Northeast and the Southwest of Quebec Innovative Materials Corp.’s (‘QIMC’) recent hydrogen-in-soil discovery in both Quebec and directly across the border in Ontario. Red Metal is actively planning a Phase 1 work program to encompass its Quebec and Ontario claims and highlight the potential for new discoveries of hydrogen as well as base and precious metals as we continue to advance our Carrizal Copper/Gold property in Cordillera, Chile.’

Red Metal Resources is planning an initial exploration program that could include but not limited to:

  • Gas sampling from the soil and underwater surveys in Timiskaming Lake. These surveys can be used to locate degassing zones associated with faults in the Timiskaming rift.

  • Gravimetry and audiomagnetotellurism (AMT) geophysics to assess variations in the thickness of local sedimentary rock deposits (gravity troughs) over the Archean basement. AMT data will assist in locating graben-related faults in the St-Bruno-de-Guigue area that are covered by quaternary sediments.

  • Regional remote sensing gas surveys to identify specific targets to provide useful remote sensing data for hydrogen and helium exploration.

  • Fieldwork can be carried out with access to properties through main roads and paved highways.

The Company is currently reviewing regional geologic data to assist in the evaluation of potential additional acquisitions in the immediate area as well as the formulation of an initial exploration plan with further details to be provided in due course.

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties.

Qualified Person

The technical content of this news release has been reviewed and approved by Caitlin Jeffs, P. Geo, who is a Qualified Person (‘QP’) as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Red Metal Resources Ltd.

Red Metal Resources is a mineral exploration company focused on growth through acquiring, exploring and developing clean energy and strategic minerals projects. The Company’s portfolio of projects include seven separate mineral claim blocks and mineral claim applications, highly prospective for Hydrogen, covering 172 mineral claims and totaling over 4,546 hectares, located in Ville Marie, Quebec and Larder Lake, Ontario, Canada. As well, the Company has a Chilean copper project, located in the prolific Candelaria iron oxide copper-gold (IOCG) belt of Chile’s coastal Cordillera. Red Metal is quoted on the Canadian Securities Exchange under the symbol RMES, on OTC Link alternative trading system on the OTC Pink marketplace under the symbol RMESF and on the Frankfurt Stock Exchange under the symbol I660.

For more information, visit www.redmetalresources.com

Contact:
Red Metal Resources Ltd.
Caitlin Jeffs, President & CEO
1-866-907-5403
invest@redmetalresources.com
www.redmetalresources.com

Forward-Looking Statements – All statements in this press release, other than statements of historical fact, are ‘forward-looking information’ within the meaning of applicable securities laws. Red Metal provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to the ability to raise adequate financing, receipt of required approvals, as well as those risks and uncertainties identified and reported in Red Metal’s public filings under its SEDAR+ profile at www.sedarplus.ca. Although Red Metal has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Red Metal disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241568

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Israeli hostage families forum receives ‘heart-shattering’ news of Bibas deaths

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Israel’s Hostages and Missing Families Forum said Wednesday that it had received the “heart-shattering news” that Shiri Bibas and her two young children, Ariel and Kfir, are among the four dead hostages expected to be released from Gaza on Thursday.

The body of Oded Lifshitz is also expected to be released on the same day, in what will be the first handover of dead hostages since the ceasefire deal with Hamas went into effect in January.

“This news cuts like a knife through our hearts, the families’ hearts and the hearts of people all over the world,” the forum said in a statement. “It is with great sadness that we received the news of the return of Shiri, Kfir and Ariel Bibas, along with Oded Lifshitz, who were kidnapped alive and will return deceased for eternal rest in Israel.”

But the announcement of the names was overshadowed by the Bibas family’s anger at the Israeli Prime Minister’s Office, which they said had released the names without their approval.

The forum later released a statement at the request of the Bibas family asking the public not to “eulogize our loved ones until there is a confirmation after final identification.”

“This is a serious mistake in the conduct of the IDF liaison officers towards the Bibas family, which resulted from an unfortunate human error,” the source said.

Ahead of tomorrow’s releases, Israel’s Prime Minister Benjamin Netanyahu said that “my own heart is torn,” in a video address posted online Wednesday evening.

“Tomorrow will be a very difficult day for the state of Israel. A wrenching day, a day of grief. We are bringing home four of our beloved hostages, deceased,” he said.

Netanyahu added: “We are grieving, we are in pain, but we are also determined to ensure that such a thing never happens again.”

The Bibas children, Kfir and Ariel, were just nine months and four years old, respectively, when they were kidnapped in October 2023. Their family has become one of the most recognizable victims of the October 7 terror attacks.

Lifshitz was 83 years old when he and his wife Yocheved were kidnapped from their home in kibbutz Nir Oz on October 7, 2023. Yocheved was one of two hostages released by Hamas later that month, while Oded remained in captivity.

The forum said in a statement Wednesday that “along with the heavy sorrow, their return for burial creates certainty for their loved ones and closes the agonizing circle of uncertainty that has lasted for 502 days.”

“There are another 69 abductees being held captive by Hamas, for whom there is still no release date,” the forum said, adding that decision-makers should “expedite” the negotiations.

Lifshitz’s family said in a statement that “these are not easy times for us, after we were informed that our beloved Oded is on the list of the hostages who will return to Israel tomorrow, after being kidnapped alive from his home in Kibbutz Nir Oz.”

“For 502 days we hoped and prayed for a different ending, but until we receive absolute certainty, our journey will not end, and even after that we will continue to fight until the last hostage is returned,” the statement added.

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A conservationist is building bridges in the Amazon so monkeys can cross the road

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The first time Brazilian biologist Fernanda Abra saw a Groves’ titi monkey, one of the most 25 endangered primates in the world, it was positioned right next to a road.

“It was totally exposed to road mortality,” recalls Abra.

Although figures vary wildly, by some estimates, 475 million vertebrate animals are killed by vehicles every year in the South American country, which is home to the world’s fourth biggest road network, and the Amazon rainforest.

It’s a problem that Abra, who is a postdoctoral fellow at the Smithsonian’s Center for Conservation and Sustainability, Conservation Biology Institute, has been trying to solve by building bridges at the canopy level, so tree-dwelling species can safely traverse roadways.

Wildlife crossings around the world

Working with local partners including the indigenous Waimiri-Atroari people, who hold important knowledge about the wildlife in their territory in the Brazilian states of Amazonas and Roraima, Abra’s Reconecta Project has built more than 30 canopy crossings on the BR-174, a 3,300-kilometer (2,000-mile) highway slicing through the Amazon. In 2024, she was among the winners of the Whitley Fund for Nature Award, which celebrates grassroots conservationists, for her efforts.

Abra hopes the structures can help turn things around for some of Brazil’s vulnerable and endangered species, like the Groves’ titi, the Schneider’s marmoset, and the Guiana Spider Monkey.

Each bridge is fitted with cameras to monitor the animals using it, and those that approach it but turn away, so the structure can be redesigned to convince critters to cross.

“Every time I see the video of the monkey using my canopy bridge, it’s wonderful because we are avoiding the situation of road mortality,” says Abra.

Reconnecting fragments of forest that have been cut apart by human-built infrastructure can have other benefits, like giving animals access to more food resources and potential mates.

“Connecting the population, we can make it stronger and allow it to grow,” says Abra.

Camera-trap footage showing a primate using a Reconecta Project canopy crossing.
Reconecta Project

That could be crucial as Brazil builds more roads. In 2023, Brazil’s president Luiz Inácio Lula da Silva announced plans to spend almost $200 billion on infrastructure, including new highways.

Similar approaches are being put into use across the world. In California, an overpass is under construction above the 10-lane 101 Freeway, that will provide safe passage for animals like mountain lions, coyotes and bobcats.

Abra also has plans for growth. The Reconecta Project is now expanding in Alta Floresta, a city in the west-central state of Mato Grosso, where she’s engaging officials from various government departments and representatives from non-profits and universities, she says. The canopy bridges will be supplemented with measures like speed bumps to slow down traffic and wildlife crossing signs to alert motorists.

She hopes to eventually expand to other areas in Brazil. “What amazes me about Brazil is the richness that we have, the wonderful biodiversity we have here,” says Abra, “and I will do everything that I can as a person, as a professional, as a conservationist and researcher to protect this rich biodiversity.”

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