Jeffrey Christian, managing partner at CPM Group, sees gold and silver prices continuing to rise as global political and economic risks persist.
‘We look at the world right now and we see a world where the risks and uncertainties are greater now than at any time since Pearl Harbor. December 1941,’ he said.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
David Cates, president and CEO of Denison Mines (TSX:DML,NYSEAMERICAN:DNN), discusses uranium market dynamics, as well as the company’s path forward after its recent final investment decision for the Phoenix ISR uranium project in Saskatchewan’s Athabasca Basin.
Construction at the asset has begun, with first production planned for mid-2028.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Precious metals prices are responding to the impact of the US-Iran war, as well as inflation data.
The war has weighed on the precious metals market for much of this past week. An oil price surge past US$100 per barrel increased the threat of inflation and strengthened the US dollar, softening the investment case for gold.
That trend seemed to reverse after US President Donald Trump made statements that the end of the war is in sight, and G7 nations are considering potential plans to potentially release strategic reserves. However, the relief was short-lived.
Let’s take a look at what’s got the precious metals moving over the past week.
Gold prices shot up on March 2 to US$5,400 per ounce as the war broke out in the Middle East.
While many may have expected the price of gold to continue skyrocketing on safe-haven demand during an escalating war, this typically is not the case in a region where military conflict can greatly impact oil prices..
Historically, gold prices get an immediate ‘safe-haven bump’ when conflict breaks out in the oil-rich Middle Eastern region. Yet, time and time again we’ve seen these gains are short-lived as macroeconomic factors like rising oil prices and a stronger US dollar often take over the direction of gold prices.
It’s been a choppy week for gold prices as investors weigh safe-haven concerns with a shifting inflation outlook. On March 5, the yellow metal managed an intraday high of US$5,164.05, before paring those gains down to a low of US$5,058.14 as liquidity stresses and renewed inflation fears outweighed gold’s traditional safe-haven role.
Gold reversed course on March 6, rising to an intraday high of US$5,171.92 as prices stabilized after a sharp mid-week correction. The oil price surge weighed on rate-cut bets, pushing prices down again Monday (March 9) morning to US$5,071.03; however, by the end of the trading session the yellow metal had reversed course to close at US$5,136.97.
By early morning trading Tuesday (March 10), the precious metal had reached an intraday high of US$5,235.61, before retreating to close at US$5,191.81. This was fueled by a ‘most intense’ day of U.S. strikes against Iran, despite conflicting signals from the White House regarding the conflict’s end.
On Wednesday (March 11) morning, the release of US Consumer Price Index (CPI) data showed headline inflation up by 2.4 percent over the last 12-months in February.
More US economic data will come on Friday (March 13) with the release of personal consumption expenditures (PCE) index for February, which analysts are projected will show upwards of 2.7 percent year-over-year growth.
With the threat of stickier inflation, gold investors are anticipating that the US Federal Reserve will sit on current interest rates for longer. In response, gold traded back down to as low as US$5,148.30 early Wednesday morning.
Still, gold prices are proving resilient given the long-term fundamentals for the metal. As of 12:00 p.m. PST Wednesday (March 11) gold was trading at US$5,170.83.
Gold price chart, March 5, 2026, to March 11, 2026.
Here are the primary drivers for gold this past week:
In other gold news, Venezuela’s state-owned mining company, Minerven, has agreed to sell between 650 and 1,000 kilograms of gold dore bars to commodities trading house Trafigura.
The multimillion-dollar arrangement, brokered by US officials, will see a shipment of gold potentially worth more than US$100 million delivered to US refineries under a separate arrangement with the US government.
Silver has also experienced a volatile week, but the white metal has made bigger gains than gold, although it didn’t reach last week’s high of US$95.71 per ounce. Silver traded at an intraday low of US$81.28 on March 5 before closing at US$82.23. The following day (March 6), the price of silver closed even higher up at US$84.54.
Monday saw silver move higher to reach US$87. Tuesday brought further gains for silver as fears that the Middle East conflict would escalate dissipated slightly and the dollar weakened. The white metal rose as high as US$89.70 in morning trading before closing up at US$88.34.
Silver sank a bit on Wednesday morning alongside gold to as low as US$84.61 before rising to US$85.46 by 12:00pm PST.
Silver price chart, March 5, 2026, to March 11, 2026.
As the world’s most electrically and thermally conductive metal, silver is still receiving strong support from industrial demand, especially from solar panels, electric vehicles and artificial intelligence technology. The entrenched silver supply deficit also continues to provide a floor of support for the metal’s price.
In silver mining news, major silver producer Pan American Silver’s (TSX:PAAS,NYSE:PAAS) exploration program at its La Colorada silver mine in Zacatecas, Mexico, led to the discovery of four new high-grade veins. Within about 40 percent of the holes drilled returned silver assays exceeding 1,000 grams per tonne.
Investors are increasingly using platinum as a defensive hedge alongside gold amid global instability.
The platinum price traded above the US$2,100 per ounce mark for much of March 5, closing up at US$2,128.60. March 6 brought more volatility, with the precious metal pushing up to US$2,176.10 before closing at US$2,130.70.
On Monday, the price of platinum had climbed as high as US$2,195 near the end of the trading day. Tuesday brought further upside for platinum prices as they rose as high as US$2,242.90 in the morning trade before closing just slightly above the US$2,200 level.
Early Wednesday morning saw platinum slide with the other precious metals to a low of $2,166.80, but quickly spiked to US$2,218.90 before settling down to U$2,178.90 by 12:00 PST.
Platinum price chart, March 5, 2026, to March 11, 2026.
Production remains tight as aging mines and power instability continue to plague South Africa’s platinum mining sector which accounts for more than 70 percent of global supply. Depleted above-ground stocks are providing a floor that prevents deep price collapses.
On the demand side, automakers continue to use platinum in catalytic converters, anchoring long-term industrial demand. As for investment demand, a surge in bar and coin buying, particularly in China and India, is helping support prices.
Palladium was not immune to the volatility trend for precious metals prices this past week.
On March 5, palladium slipped from US$1,658 per ounce to as low as US$1,635 before finishing the day at US$1,649. Palladium prices followed this pattern again on March 6 as the metal started the morning session trading at around US$1,665, later falling back down to US$1,635 again before swinging back up to an intraday high of US$1,671 before closing at US$1,656.
On Monday, palladium gained much ground, climbing as high as US$1,715 on safe-haven demand. However, the following day palladium’s price tracked downward to close at US$1,678.50 on US dollar strength and profit-taking.
Wednesday saw palladium trade in a range of US$1,634.50 to US$1,673.50 before hitting US$1,648.50.
Palladium price chart, March 5, 2026, to March 11, 2026.
Palladium is facing the same pressures as the rest of the precious metals, rising global inflation fears alongside safe-haven demand. Prices for palladium may be trading at three-month lows this week, however there is lots of support for the US$1,650 to $1,700 range given supply constraints and shifts in government automotive policies.
Persistent supply issues include production disruptions in South Africa and uncertainty over Russian exports. On the demand side, regulatory changes in Europe extending the time period when gas-powered vehicles can remain on the market means palladium will still be in demand for use in catalytic converters.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Josef Schachter, president and author at the Schachter Energy Report, shares his outlook for oil prices and stocks as the Iran war continues.
‘The key thing is how long does it last and what is the reason that they want the war,’ he said.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
CSE: NINE,OTC:VMSXF) (OTC Pink: VMSXF) (FSE: KQ9) (the ‘Company’ or ‘Nine Mile’) announces that it has proceeded with its third anniversary payment under its option to Purchase 100% of the Wedge Project, dated February 9, 2023, (the ‘Option Agreement’) with Slam Exploration Ltd. (‘Slam’).
The company has approved and paid the required Cash Payment of $40,000 and authorized and issued the allotment of 300,000 common shares as part of the Option Agreement. The Option Agreement has one remaining payment anniversary on February 2027 requiring a Cash Payment of $50,000 and issuing 400,000 common shares and then Nine Mile will have completed the 100% Purchase of the Wedge Project from Slam. The common shares are subject to a hold period under applicable Canadian Securities laws expiring four months and one day from the issuance of the shares.
The Wedge VMS Project consists of 35.83 km2 and hosts the Wedge Mine, West Wedge, Tribag Targets within the 8km Wedge VMS Exploration Trend. (See Figure #1 Below)
Figure 1: Priority Targets with Late Time Conductive Axis’ along the Wedge VMS Trend
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Nine Mile just completed its Fall 2025 Wedge Mine Phase 2 Drill Program and is releasing Certified Drill Results as received. The goal at the Wedge Mine is to demonstrate and prove the Mine has an economic future and the deposit is much larger and higher grade than previously determined. Nine Mile is well on the way to that goal.
Gary Lohman, P.Geo, VP Exploration & Director, stated, ‘This completes a crucial stage in the completing of the Purchase Agreement with Slam Exploration. Our advancement of the entire project including the Wedge Mine, West Wedge & Tribag High Priority VMS Targets is an example of our technical and financial commitment to this Priority Project for Nine Mile Metals and our shareholders. Assay results reported to date further demonstrate the hidden quality of the Wedge and we look forward to expanding on our recent success at the Wedge and the inaugural Drill Program along trend at the West Wedge and Tribag.’
Figure 2: Upcoming 2026 Drill Program Targets at West Wedge and Tribag Zones
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Patrick J Cruickshank, MBA, CEO & Director, stated, ‘The Wedge Mine and clustering targets on Trend, have quickly become, and rightly so, a priority project for us at Nine Mile. The continued success in our Wedge Mine Drill Programs clearly displays the high-grade copper ore remaining in the deposit. In 2024, drilling extended the deposit to the east and our recent drilling shows the deposit has high grade copper mineralization at depth and to the southwest. We are defining the next phase of drilling at the Wedge and the west extension. Once we complete the BHEM surveys and Mike Defrusne, President at Apex Geoscience, leading our Technical Team, integrates these new holes into our live 3D model, we will announce our Phase 3 Drill Program at the Wedge Mine, unlocking the value and test the overall size and scale of this high-grade deposit. We are excited to also launch our 2026 Drill Program at the West Wedge & Tribag sites and test those prospective VMS zones. 2026 will be a very busy exploration year.’
Nine Mile Metals also announces that it has entered into an agreement (the ‘Agreement’) with Generation IACP Inc. (‘Generation’) to provide market making and issuer services in accordance with Canadian Securities Exchange (CSE) policies. Under the terms of the Agreement, Generation will trade shares of the Company on the CSE and other trading venues with the objective of maintaining a reasonable market and improving the liquidity of Nine Mile’s common shares. Generation IACP will also provide analytical data services on the stock trading patterns, CDS activity mapping security transfers and all aspects of issuer trading reporting, including shorts monitoring, institutional, retail, anonymous trades and market sentiment analysis.
The Agreement is for an initial term of six months and shall be automatically renewed for successive six-month periods unless terminated by either party with 30 days prior written notice. Pursuant to the Agreement, Generation will receive a monthly fee of $8,500 Cdn, plus applicable taxes during the initial term. Thereafter, the monthly fee will automatically increase annually by 3% on each anniversary of the Agreement. No stock options or other compensation are being granted in connection with the engagement.
Generation is arm’s length to the Company and does not own any securities of Nine Mile as of the date of this release; however, Generation and its clients may acquire an interest in the securities of the Company in the future.
Generation’s market making and issuer service activities will be primarily intended to correct temporary imbalances in the supply and demand of the Company’s shares. Generation will be responsible for the costs it incurs in buying and selling the Company’s shares, and no third party will be providing funds or securities for the market making activities.
‘We have seen extremely strong trading volume and interest in Nine Mile Metal’s story from strategic, institutional, and retail investors. We traded over 90M shares through December and January 2026 and continue to have strong daily trading. We would like to monitor the trading behaviors, patterns and understand our trading base across all platforms. The relationship with Generation IACP complements our capital markets strategy and supports our focus on accessibility, transparency, and long-term shareholder alignment,’ commented Jonathan Holmes, Director.
About Generation IACP Inc.
Generation IACP is based in Toronto, Ontario, and is an independently held and registered broker and member of the Investment Industry Regulatory Organization of Canada, the TSX-V, the Canadian Securities Exchange, and the NEO Exchange.
The disclosure of technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’) and reviewed and approved by Gary Lohman, B.Sc., P.Geo., VP Exploration and Director who acts as the Company’s Qualified Person, and is not independent of the Company.
About Nine Mile Metals Ltd.:
Nine Mile Metals Ltd. is a Canadian public mineral exploration Company focused on VMS (Cu, Pb, Zn, Ag and Au) exploration in the renowned Bathurst Mining Camp (BMC), located in New Brunswick, Canada. The Company’s primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East – West) VMS Project, and the Wedge VMS Project. The Company is focused on Critical Minerals Exploration, positioning itself for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge on Gold.
ON BEHALF OF Nine Mile Metals LTD.
‘Patrick J. Cruickshank, MBA’
CEO and Director
T: 506-804-6117
E: patrick@ninemilemetals.com
Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as ‘will,’ ‘may,’ ‘would,’ ‘expect,’ ‘intend,’ ‘plan,’ ‘seek,’ ‘anticipate,’ ‘believe,’ ‘estimate,’ ‘predict,’ ‘potential,’ ‘continue,’ ‘likely,’ ‘could’ and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that (a) we will announce complete Certified assay results once received from ALS and Glencore. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
___________________________________________________________________________________________________
The Canadian Venture Building, 82 Richmond St E., Toronto, Ontario Canada M5C 1P1
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288134
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Copper is the third most-used metal in the world, and experts believe demand for this important commodity is set to rise in the coming years. At the same time, the supply situation is expected to tighten up.
For that reason, market watchers may be asking, “When will copper go up?” Copper prices began to move sharply in 2025 amid tariff speculation and supply disruptions.
In July 2025, copper prices on the COMEX surged to US$5.96 per pound, as US-based traders worked to get supply into the country ahead of the implementation of tariffs. However, the price plummeted back toward US$4 per pound after it was revealed that tariffs would not be applied to refined copper products.
As the third quarter ended, a near-total shutdown at Freeport-McMoRan (NYSE:FCX) Grasberg mine in Indonesia further tightened copper supply that was already stressed due to a similar incident earlier in the year at Ivanhoe’s Kamoa-Kakula mine in the Democratic Republic of the Congo.
The price rose through the last quarter of 2025 and into 2026 when the price had climbed to new record highs of US$6.61 per pound on COMEX and US$13,842.50 on the London Metal Exchange on January 29.
“Grasberg remains a significant disruption that will persist through 2026, and the situation is similar to constraints at Ivanhoe Mines’ Kamoa-Kakula, which experienced output cuts this year,’ Jacob White of Sprott Asset Management said via email, adding, ‘We believe these outages will keep the market in deficit in 2026.’
Copper prices moving to record highs is a result of the latest shift toward structural deficits in the supply and demand for the red metal. In 2021, market imbalances pushed prices to a then all-time high of US$10,724.50 per metric ton, which was later broken in March 2022 when it hit US$10,730.
Copper price chart, Q1 2003 to Q4 2025.
Chart from International Monetary Fund via FRED.
Copper had pulled back to about US$8,000 by mid-August 2022 on growing fears of a global recession. In early 2023, prices mounted a campaign to breach the US$9,300 level, once again giving market watchers a reason to believe highs for the metal would soon to be retested.
However, that reason soon faded as rising interest rates dampened the outlook for copper-dependent industries globally. China’s ongoing real estate crisis also hit copper demand hard in 2023. With the demand picture unclear, copper couldn’t hold above the US$9,000 level, and slid to US$7,910 as of early October 2023.
However, copper managed to close the year around the US$8,500 mark and hold around those levels in Q1. The closure of First Quantum Minerals’ (TSX:FM,OTCPL:FQVLF) Cobre Panama copper mine in late 2023 and Anglo American’s (LSE:AAL,OTCQX:NGLOY) revised 2024 copper production target were significant factors behind copper’s price momentum, as were production curbs out of top Chinese copper smelters are also helping to support prices.
The copper price began climbing in earnest in Q2 on building anticipation that the Federal Reserve may soon launch its rate cut cycle alongside a worsening supply side picture. On May 20, 2024, the price of copper reached its then highest recorded price of US$5.20 per pound, or US$11,464 per metric ton.
However, the price of the base metal moved back under US$10,000 by the end of the month, and remained largely rangebound through the rest of the year.
In 2025, copper tariff fears and supply disruptions pushed the price of copper upwards, and it reached record highs of US$13,842.50 on the LME in late January 2026.
Copper prices pulled back to below US$13,000 in the days that followed, and as low as US$12,560 by mid-month.
However, demand sectors for the red metal may face fresh uncertainty in 2026 after the Supreme Court of the United States found Trump’s “Liberation Day” tariffs unconstitutional.
Although the ruling won’t affect copper tariffs directly, it may cause some economic chaos as countries that worked out deals reconsider their agreements. Following the ruling, Trump imposed new 10 percent tariffs on February 20, then raised them to 15 percent the next day. The new levies will only be in effect for 150 days, after which they will need to be ratified by Congress.
The copper price climbed above US$13,200 during trading in the days that followed.
Despite short-term uncertainty, is long-term optimism for copper still warranted? Let’s look at the current supply and demand factors that could push copper prices higher.
Copper’s many useful properties have translated into demand from diverse industries in both traditional and emerging sectors.
In its January 2026 “Copper in the Age of AI” study, S&P Global Energy and Market Intelligence outlined key areas for copper demand and growth. Central to everything is the role copper plays in electrification due to a conductivity rating that’s second only to silver.
Traditional demand sectors such as construction, electronic appliances and internal combustion engine vehicles have long been the main drivers for core copper demand. According to the report, 18 million metric tons of copper were required to meet this core economic demand in 2025, and the analysts forecast that number to rise to 23 million by 2040.
Growth in core demand is expected to be driven by a combination of urbanization and rising incomes in the developing world. Every new power source, every new home and every new air conditioner is connected to the grid in some way.
Overall, China is the world’s largest copper consumer, due in large part to its construction and real estate sectors. However, growth there has slowed in recent years as its property sector has stalled following the collapse of several large developers. The government has responded with a series of measures to try to stimulate the sector, but has yet to right the ship.
At the end of 2025, China released its 14th Five-Year Plan, which the country will implement from 2026 to 2031. The plan has measures aimed at the real estate sector including affordable housing, the rental market and urban renewal. While it remains to be seen if these will be successful, any turnaround in China’s real estate sector could have a considerable impact on copper demand.
Although aluminum is being substituted in some use cases due to high copper prices, there are technical hurdles such as the need for systems to be redesigned and aluminum’s lower conductivity.
In addition to traditional growth, demand is being driven by the energy transition, including energy additions in developing nations, clean energy technologies and electric vehicles.
As a base case, S&P expects global electricity demand to increase 50 percent by 2040, with the United States’ demand growing by 2.5 percent annually, China’s by 3.2 percent and India’s by 4.2 percent.
This demand growth will require the energy equivalent of building 330 new hydroelectric dams the size of Nevada’s Hoover Dam or 650 1 gigawatt nuclear reactors each year between now and then.
In 2025, solar and wind combined for more than 90 percent of new electrical capacity installed worldwide. These methods require substantial quantities of copper to build out, as do the batteries used to store the energy needed to ensure 24 hour delivery.
Additionally, expanding access to commercial energy in developing nations will also require significant copper for infrastructure, energy transmission and more. S&P notes that Africa is home to nearly 20 percent of the world’s population, but its electricity needs are underserved. Copper will play an essential role in moving electricity across the continent.
Downstream from generation, there is an increasing demand for EVs, which have significantly higher copper loadings than their gas-powered counterparts. In 2025, global EV sales grew by 20 percent to 20.7 million, and although the pace is likely to slow, overall demand is expected to continue to grow in the coming years.
The AI sector is another emerging demand sector for copper, as it requires vast amounts of the red metal to deliver the energy to power data centers and manufacture the hardware that its operations run on.
The S&P noted that half of the US gross domestic product (GDP) growth in 2025 was owed to AI. This includes processors, data centers, and electrical capacity. The study also stated that AI power requirements alone will rise from 5 percent of total US electrical demand in 2025 to 14 percent by 2030, before demand from industrial, commercial, creative and personal applications are accounted for.
Factoring in demand from these industries and the defense sector raises 2025’s copper requirements from 18 million to 28 million metric tons, according to S&P. As these sectors grow, total copper demand is expected to hit 42 million metric tons by 2040.
Of course, demand is just one side of the story for copper prices. For more than a decade, the world’s largest copper mines have struggled with steadily declining copper grades and a lack of new copper discoveries.
However, the challenge is that without new mining operations, total mined copper supply is set to rise from 23 million metric tons today to a peak of 27 million in 2030, but decline to 22 million metric tons in 2040.
Although recycled copper is expected to add an additional 10 million metric tons of supply in 2040, this still leaves a supply deficit of 10 million metric tons.
Declining grades at existing mines are just part of the problem facing the supply side of the equation. Since the end of the last commodity super cycle in 2011, exploration budgets have cratered from US$6.6 billion in 2012 to US$3.3 billion in 2025, and nearly half of that is spent on existing mine sites.
According to S&P, the number of new discoveries and quantity of resources has also fallen. Between 1985 and 2000, 636 million metric tons of copper resources were discovered; this fell to 389 million metric tons between 2000 and 2010, and further to 120 million metric tons between 2010 and 2020.
The general consensus is that the easy-to-access deposits have been found, leaving harder to access ore bodies that require longer permitting times and higher capital costs.
Speaking about copper at the Vancouver Resources Investment Conference (VRIC) in January 2026, Founder of Rule Investment Media, Rick Rule, said, “There’s still more to be found, but it’s going to be found undercover. Let’s just say they’re pretty far off the highway. When we start spending money, we will find copper, but we haven’t started to spend money.”
Rule went on to explain that there are challenges beyond just the money, noting jurisdictional and permitting issues. He cited the example of Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and BHP’s (ASX:BHP,NYSE:BHP,LSE:BHP) Resolution Copper in Arizona, which has been stuck in permitting for 28 years.
Delays and lack of exploration are critical factors hindering copper supply growth. On top of this, over the last several years there have also been unforeseen events that have taken supply off the market.
These have included sociopolitical unrest and protests directed at the mining sector in Peru in 2022, the closure of First Quantum’s Cobre Panama in 2023, and, most recently, accidents at two of the world’s largest copper mines in 2025, Ivanhoe Mines’ (TSX:IVN,OTCQX:IVPAF) Kamoa-Kakula in the Democratic Republic of the Congo and Freeport McMoRan’s Grasberg in Indonesia.
Even though these types of events can’t be predicted, any supply disruptions will have an outsized impact as the supply gap widens.
“Really, last year the market was close to equilibrium, but all the charts going forward were this widening supply gap. We’re there now. And last year we had so many major disruptions that it was nowhere near equilibrium,’ Independent Speculator CEO Lobo Tiggre said at VRIC.
So, when will copper go up? Together, strong demand and tight supply have already created the right market environment for higher prices, though market watchers like Rule and Tiggre still see more upside potential.
Copper’s strong rally in recent years has encouraged the idea that even higher copper prices are ahead, which could be a golden opportunity for junior copper companies in the long-term.
With deficits expected to increase over the coming years, analysts are setting new target prices for LME copper. The Bank of America (NYSE:BAC) raised its expectations to an average US$11,313 per metric ton in 2026, and US$13,501 in 2027. Meanwhile, Citigroup (NYSE:C) is even more bullish, predicting copper prices could climb as high as US$15,000 per metric ton as early as the second quarter of 2026.
A widening supply gap should provide significant tailwinds in the coming years, potentially sending prices even higher.
“Copper has done fairly well, but for most of the year, copper seemed really strangely muted in terms of price increase, and make no mistake, a supply shortfall is absolutely inevitable in copper,” Rule said.
Price increases should also stimulate capital inflows into the industry, which Rule noted would need US$250 billion over the next 10 years to maintain the current level of production. To grow beyond that would require a much larger investment.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Silver Hammer Mining Corp. (CSE: HAMR,OTC:HAMRF) (the ‘Company’ or ‘Silver Hammer’) is pleased to announce that the Company is finalizing plans for its Phase 1 drill program on its 100% owned California Patented Claim (the ‘California Patent’), within the Eliza Silver Project (‘Eliza’) in White Pine County, Nevada.
‘We are looking forward to Phase 1 of drill-testing priority targets at the 100% owned California Patent, ahead of a Phase 2 drill program on the greater area of the Eliza Claims, which is now awaiting final approval after submitting all required documents in its permitting application with the US Forest Service. The California Claim, being patented land, allows us to perform Phase 1, without requiring exploration or drilling permits,’ commented Peter A. Ball, CEO of Silver Hammer Mining. ‘We are currently in the process of sourcing a drilling contractor to execute our exploration program, and we look forward to mobilize to site as soon as possible.’
New priority drill targets on the California Patent have been identified from historical geological data from past exploration programs including surface mapping and sampling, an extensive soil sampling program, heliborne geophysics (magnetics and radiometrics), and from historical records of old mine workings. Up to five structures appear to be mineralized with silver and/or gold, and these form the five distinct drill targets (refer to Fig. 1).
Fig. 1 – California Patent Drill Targets Map with a Compilation of Geological Structures, Rock and Soil Samples
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9597/288112_ffcef8640486490b_001full.jpg
Up to a fifteen (15) hole drill program, consisting of approximately 1,500 metres (5,000 feet), has been designed to test following targets:
Table 1 – Rock Samples at California Patent (Mapping and Sampling Programs, 2021-2022)
| Sample No. |
Au (g/t) |
Ag (g/t) |
As (ppm) |
Cd (ppm) |
Cu (ppm) |
Mn (ppm) |
Mo (ppm) |
Pb (ppm) |
Sb (ppm) |
Zn (ppm) |
| PN662702 | 0.01 | 0.524 | 14.6 | 1 | 2 | 541 | 2 | 9.05 | 5 | 10.8 |
| PN662703 | 0.06 | 1290 | 33.8 | 14 | 56.8 | 2750 | 5.6 | 619 | 268 | 71.1 |
| PN662704 | 2.00 | 96.1 | 19 | 12 | 32 | 1620 | 2.42 | 179 | 33.2 | 128 |
| PN662705 | 0.28 | 26.3 | 10.5 | 1 | 13.6 | 316 | 2.12 | 39.2 | 11.5 | 21.3 |
| PN662706 | 0.01 | 2.44 | 25.3 | 1 | 7.05 | 4610 | 5.15 | 9.1 | 7.88 | 31.6 |
| PN662707 | 0.01 | 14.1 | 19.4 | 1 | 7.08 | 2020 | 2 | 9.9 | 10.1 | 22 |
| PN662708 | 0.01 | 0.275 | 8.28 | 1 | 3.58 | 96.8 | 2 | 18.5 | 5 | 7.68 |
| PN614022 | 0.24 | 150 | 32.2 | 14.8 | 84.5 | 1340 | 2.35 | 324 | 51.3 | 172 |
1 R.K. Hose, M.C. Blake and R.M. Smith, Bulletin 85, Geology and Mineral resources of White Pine County, Nevada, Nevada Bureau of Mines and Geology Part II, Mineral Resources, 1976.
Fig. 2 – California Mine Section A-A’, with Drill Targets and Historic Underground Workings
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9597/288112_ffcef8640486490b_002full.jpg
Mr. Ball added, ‘The intersection of high angle structures in several orientations and the potential of the low-angle shale-limestone contact at the location of a historic mine, combined with several high-grade rock samples, forms a number of exciting and compelling drill targets.’
Qualified Person
The scientific and technical aspects of this press release have been reviewed and approved under the supervision of Damir Cukor, P.Geo. Mr. Cukor is a Qualified Person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects and as a consultant for the Company as Technical Director – Projects.
About Silver Hammer Mining Corp.
Silver Hammer Mining Corp. is a well-funded junior resource company focused on advancing past- producing high-grade silver projects in the United States. Silver Hammer controls 100% of six previously producing silver mines which are located within the Silver Strand Project in the Coeur d’Alene Mining District in Idaho, USA, and within the Eliza Silver Project and the Silverton Silver Mine in Nevada. The Company also controls the Fahey Group Silver Project in the Silver Valley, Idaho. Silver Hammer’s primary focus is to explore, define and develop silver projects near past-producing mines that have not been adequately tested. The Company’s portfolio also provides exposure to copper and gold.
On Behalf of the Board of Silver Hammer Mining Corp.
Peter A. Ball
President & CEO, Director
E: peter@silverhammermining.com
For investor relations inquiries, contact:
Peter A. Ball
President & CEO
778.344.4653
E: investors@silverhammermining.com
Forward-Looking Information
This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. Forward-looking information in this press release includes, without limitation, statements relating to the Offering, the intended use of proceeds from the Offering, and other statements which are subject to a number of conditions, as described elsewhere in this news release. These statements are based upon assumptions that are subject to significant risks and uncertainties, including risks regarding the mining industry, commodity prices, market conditions, general economic factors, management’s ability to manage and to operate the business, and explore and develop the projects of the Company, and the equity markets generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance of the Company may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, they can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assume no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288112
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TORONTO, ON / ACCESS Newswire / March 11, 2026 / AmeriTrust Financial Technologies Inc. (TSXV:AMT,OTC:AMTFF)(OTCQB:AMTFF)(Frankfurt:1ZVA) (‘AmeriTrust‘, ‘AMT‘ or the ‘Company‘), a fintech platform targeting automotive finance is pleased to provide an update of corporate activities since the closing of the recent financing.
Corporate Matters
Jeff Morgan AmeriTrust CEO, commented: ‘Over the past year, our team has been focused on building the corporate foundation necessary to scale AmeriTrust across the United States. We have made meaningful progress across funding, technology, dealer onboarding, and operational infrastructure and we are now accepting applications and originating and funding vehicle leases.
Today, AmeriTrust now operates through three wholly owned U.S. subsidiaries, each designed to address a unique component of our automotive finance ecosystem. With our corporate structure now established and new websites launched for all three entities, we are positioned to begin scaling our platform nationally.’
1. AmeriTrust Financial (www.ameritrustfinancial.com) is an indirect finance company that offer’s new and used lease financing through franchised and independent dealer partners nationwide in the U.S.
The Company recently executed a new funding agreement for a revolving line of credit with the Bank of Texas. This first facility provides AmeriTrust Financial with competitively priced cost of funds that can be ‘recycled’ as the Company’s portfolio grows. The funding facility represents an important milestone and establishes the financial infrastructure necessary to support scalable originations.
AmeriTrust Financial has implemented a three-phase approach to expanding its dealer network. The first phase is to sign up and onboard dealers. The second phase is to educate the dealers and their employees through free onsite and online training about the platform and the financing programs that AmeriTrust offers. The third phase involves having quality applications submitted through the RouteOne and DealerTrack financing portals, or through AmeriTrust’s proprietary portal, and complete lease or loan customer contracts.
AmeriTrust Financial has recently bolstered its sales team and has established national territories to expand its dealer network. In the past couple of months, the Company has executed 21 new dealer agreements representing 62 dealer locations across 16 states. While this expansion positions the Company for future growth, lease origination ramp-up will take time as dealers are educated and become familiar with AmeriTrust’s lease and loan financing programs.
2. AmeriTrust Auto (www.ameritrustauto.com) operates as a licensed dealer that remarkets lease-return vehicles for funding partners with the objective of maximizing asset recovery and minimizing cumulative net loss.
During February 2026, the Company started limited production of the remarketing business model. AmeriTrust Auto is now expanding its operational team and has recently hired six additional employees who are currently operating from a temporary facility in Fort Worth, Texas while the Company prepares for future expansion.
3. AmeriTrust Serves (www.ameritrustserves.com) represents the Company’s servicing infrastructure and technology platform. AmeriTrust Serves has implemented a first-of-its-kind lease servicing platform in partnership with Conduent, one of the nation’s largest application service providers for consumer loan servicing systems. The platform enables scalable loan and lease servicing, enhanced automation, and data-driven portfolio management while supporting regulatory compliance and operational flexibility across multiple states.
Further Updates
Recently, Jeff Morgan was interviewed by Auto Finance News and Automotive News. The Auto Finance News article, titled ‘Inside AmeriTrust Financial’s Used Vehicle Leasing Rollout’ reported on AmeriTrust’s launch of a technology platform that allows dealers to present side-by-side loan and lease options for used vehicles, enabling consumers to compare payment structures while the company expands its leasing program across multiple states. The Automotive News article, titled ‘Former Tesla partner AmeriTrust tackles difficult, rare business of used-vehicle leasing’ examined AmeriTrust’s effort to expand used-vehicle leasing, a segment that represents a very small share of the market, highlighting the company’s strategy and the potential role leasing could play in improving vehicle affordability.
Last week Jeff Morgan was invited to be a speaker at the National Vehicle Leasing Association (‘NVLA’) Annual Conference in Nashville, Tennessee. The panel that Jeff participated in brought together high-performing lessors who excel at expanding their in-house portfolios while strategically placing some select transactions that fall outside their credit window or operational capacity.
Jeff Morgan commented, ‘As we move further into 2026, our focus remains clear: expanding both our indirect and direct dealer network, increasing application flow, and steadily growing funded originations while maintaining disciplined credit standards. The infrastructure we have built, from funding facilities and servicing technology to dealer partnerships, provides the foundation for that growth. While we remain in the early stages of executing our strategy, the results we are seeing across the platform are encouraging.’
AmeriTrust also announces that contrary to the Company’s press release dated January 15, 2026, Dig Media Inc. does provide services defined by TSXV policy 3.4 as investor relations. In addition, since the beginning of January 2026 the Company has issued 4,125,000 Restricted Share Units to employees and consultants.
About AmeriTrust Financial Technologies Inc.
AmeriTrust Financial Technologies Inc., listed on the TSXV, OTCQB, and Frankfurt markets, is a finance solution and fintech provider disrupting the automotive industry. AmeriTrust’s integrated, cloud-based transaction platform facilitates transactions amongst consumers, dealers, and funders. AmeriTrust’s platform is being made available across the United States.
For further information, please visit the AmeriTrust website or contact:
Shibu Abraham
Chief Financial Officer and Director
E: info@ameritrust.com
P: 1-800-600-6872
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements relating to the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipate’, ‘expects’, ‘believes’ and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the description of the corporate capabilities and prospects of the Company’s operating subsidiaries, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, we cannot guarantee that any forward-looking statement will materialize, and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as at the date of this news release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: AmeriTrust Financial Technologies Inc.
View the original press release on ACCESS Newswire
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Global energy officials are weighing the largest coordinated release of emergency oil reserves ever proposed as supply disruptions linked to the ongoing Middle East conflict continue to disrupt global markets, according to an exclusive report by the Wall Street Journal.
Officials familiar with the discussions said the International Energy Agency (IEA) has circulated a proposal among its 32 member countries to release crude from strategic reserves in an effort to stabilize surging prices following the near-total disruption of tanker traffic through the Strait of Hormuz.
The proposed drawdown would exceed the 182 million barrels released in two coordinated actions in 2022 after Russia’s invasion of Ukraine. Member countries are expected to decide on the plan Wednesday (March 11) during an emergency consultation convened by the agency.
The Strait of Hormuz, a narrow maritime corridor connecting the Persian Gulf to international markets, normally carries roughly one-fifth of the world’s daily oil supply.
However, continuous attacks on passing tankers and the escalating security risk in the region have brought shipments through the waterway close to a halt.
Since the US and Israel launched strikes on Iran in late February, crude prices have surged sharply amid fears of a prolonged supply shock. Oil briefly climbed above US$100 per barrel and at one point approached US$120 before retreating as markets reacted to the developing conflict.
Map of the Strait of Hormuz, with surrounding countries.
Fajar / Adobe Stock
Despite the pullback, the price of refined fuels such as diesel has continued to rise, raising concerns about broader economic fallout. Economists warn that sustained high energy prices could drive inflation higher, pressuring financial markets and increasing fuel costs for consumers worldwide.
IEA Executive Director Fatih Birol said global oil markets have deteriorated significantly in recent days.
“In oil markets, conditions have deteriorated in recent days,” Birol said in an IEA statement following a meeting of G7 energy ministers at the agency’s Paris headquarters.
“In addition to the challenges of transit through the Strait of Hormuz, a substantial amount of oil production has been curtailed. This is creating significant and growing risks for the market.”
The IEA was created in 1974 in response to the Arab oil embargo and coordinates emergency actions among industrialized nations when major supply disruptions threaten global energy security.
Member countries currently hold more than 1.2 billion barrels of government-controlled emergency oil reserves, along with roughly 600 million barrels of mandatory industry stocks.
Together, those inventories represent about 124 days of lost supply from the Gulf, based on current estimates.
Energy ministers from the Group of Seven (G7) major economies signaled support for the use of strategic reserves if necessary to stabilize markets.
“Working alongside the IEA, we are vigilantly monitoring energy market trends and are coordinating within the G-7 and with our international partners, IEA member countries, and beyond,” the ministers said in a joint statement as reported by Bloomberg.
They added that the group supports “the implementation of proactive measures to address the situation, including the use of strategic reserves.”
Markets have already responded to the possibility of a coordinated release. Brent crude briefly dropped below US$90 per barrel earlier this week as reports emerged that governments were considering tapping stockpiles.
But oil prices resumed climbing in Asian trading on Wednesday as traders weighed how long Middle Eastern supply disruptions could last.
Production across several Gulf states has already begun to decline as exporters struggle to ship crude through the threatened shipping lane. Major producers in the region have reportedly cut output by more than five million barrels per day as storage facilities fill and tankers remain unable to load cargo.
Meanwhile, some governments have started preparing their own emergency responses even before a coordinated decision is reached. Japan said it plans to release oil reserves as early as Monday (March 16) to offset expected supply disruptions.
Tokyo intends to release 15 days’ worth of privately held oil reserves and one month of government stockpiles while also drawing on joint reserves held with oil-producing nations.
Energy analysts say the prospect of coordinated stockpile releases has already begun influencing market behavior.
“Crude oil closed slightly below the US$100 mark after spiking to nearly US$120 per barrel earlier today,” Tullis said. “Helping to bring prices back down were reports that the G7 countries are considering releasing 300-400 million barrels in total from their strategic reserves.”
For instance, the IEA coordinated a record release of emergency reserves in 2022 after Russia’s invasion of Ukraine.
Although prices initially rose as traders interpreted the move as a sign of a severe crisis, the additional supply later helped ease market pressure.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
South African gold producer Pan African Resources (LSE:PAF) has agreed to acquire Australian explorer Emmerson (LSE:EML) in an all-share transaction valued at approximately US$218 million.
The acquisition will be carried out through a scheme of arrangement under which Pan African will acquire 100 percent of Emmerson’s issued share capital.
Under the terms of the deal, Emmerson shareholders will receive 0.1493 Pan African shares in the form of ASX-listed Chess Depositary Interests for each Emmerson share held. Following completion of the transaction, Emmerson shareholders will own about 4.24 percent of the combined company.
The deal consolidates ownership of the Tennant Creek joint venture, where Pan African is currently partnered with Emmerson to explore and develop gold deposits across a large tenement package in Australia’s Northern Territory.
“This combination with our trusted JV partner represents a strategically logical consolidation of our Tennant Creek tenement package,” Emmerson chair Mark Connelly said in a company press release.
Tennant Creek, located between Alice Springs and Darwin, is one of Australia’s historic gold districts, known for high-grade deposits discovered during a mining boom in the 1930s.
Pan African chief executive Cobus Loots said the acquisition would allow the company to streamline development plans for new discoveries in the district, including the White Devil gold deposit.
The company currently operates a mix of low-cost surface operations and high-grade underground mines across South Africa and Australia. It is forecast to produce more than 275,000 ounces of gold in the 2026 financial year.
Pan African’s resource base totals approximately 42.9 million ounces of mineral resources and 13 million ounces of ore reserves, providing a long-term pipeline for production growth.
Loots said diversification is essential in the mining industry, where individual assets inevitably decline over time.
“In mining you are exploiting a wasting asset – so you’re either moving backwards or you’re progressing,” Loots told Currency in a recent interview. “We don’t want to move backwards.”
The transaction remains subject to several conditions, including shareholder approval and customary regulatory clearances.
A shareholder vote is expected to take place in mid-2026, with completion anticipated shortly thereafter if the scheme is approved.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.