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Graphite Market Forecast: Top Trends for Graphite in 2025

January 21, 2025 No Comments

The broad graphite market faced continued price pressure in 2024, as supply and demand trends diverged pushing natural graphite into deficit.

As the year progressed slower than forecasted end use segment demand, production uncertainty and moderate investment in capacity growth outside of China remained the dominant market themes.

A late year recovery in global electric vehicle sales and a positive long term demand outlook have positioned the graphite market for a mild recovery in 2025. However, with China dominating global supply, geopolitical tensions, export restrictions, and policy changes could quickly alter the landscape.

Due to the less geographically concentrated nature of the synthetic graphite market it is less exposed to Chinese disruption.

“Although synthetic graphite producers are better off, natural graphite anode producers are almost completely reliant on China, so there’s a lot of concern around this at the moment,” he added.

Even though Willoughby doesn’t foresee China limiting exports, incoming rules on US imports are adding pressure on North America to grow its domestic supply chains.

“While we expect China to continue to allow battery-related exports, companies are looking to diversify their supply to reduce the risk,” he said.

Willoughby continued: “On top of this, there is a need to shift away from China for the US battery supply chain. The Inflation Reduction Act (IRA) specifies that by 2027, any batteries that contain graphite from China won’t be eligible for substantial tax credits. While it’s not clear which of these will remain under the new administration, we expect the requirements for non-Chinese material to continue.”

Graphite market facing dual supply challenges

Natural graphite production ballooned in 2022 when global mined supply reached 1,680,000 metric tons, a 73.9 percent increase from 2020’s 966,000 metric tons.

Global output registered a small 4.6 percent decline in 2023 totaling 1,600,000; however, the reduction was enough to send the market into deficit.

According to Tony Alderson senior analyst for Benchmark Mineral Intelligence the shortfall has been attributed to rising demand from the battery anode segment.

“EV demand is set to rise by nearly 400 percent over the next decade. As such, the need for both natural and synthetic graphite is rising notably in line with this,” Alderson wrote in an email. “With regards to this increased demand, the natural graphite balance is already not holding up with a 2024 deficit of nearly 150,000 metric tons per annum (tpa) emerging.”

Conversely the synthetic graphite market is experiencing a supply glut.

“On the side of synthetic graphite, it is fairing a little better when talking about the market balance as supply is stronger. The market is in a notable oversupply of 350,000 tpa, which is set to reach a deficit beyond the end of the decade,” he explained. “One of the reasons for this chemistry disparity is due to the greater supply and ease of building a facility in a far less time period than with natural.”

Although the 2025 supply narrative is different, the future of both markets looks similar, Alderson noted.

“Despite this, the currently announced supply is simply not enough to meet the forecasted demand out to 2034, with both [segments] reaching deficits of over 600,000 tpa which are only set to widen out to 2040,” he said.

In a 2022 report from Benchmark it is noted that some 300 new mines are needed to support the energy transition, a percentage of which will need to be graphite mines.

“We forecast battery sector demand for raw material graphite to rise by more than 1,400 percent between 2020 and 2050,” the report read. “By the end of the forecast period, total graphite demand could be three times the 2021 supply level.”

Shifting battery chemistries complicate forecast

Use in the EV sector is underpinning graphite demand, however as battery chemistries continue to shift market supply and demand fundamentals could also change.

The rapid evolution of battery chemistries has posed significant challenges. While the shift in cathode materials from nickel ternary (NMC) to lithium iron phosphate (LFP) in China has garnered much attention, similar transformations are also occurring within the anode market, explained Willoughby.

“China now primarily uses synthetic graphite anode materials as it’s faster to build out new production and easier to get the raw materials,” he said. “However, that has led to a massive oversupply for synthetic due to the number of new companies in the market, and in the natural [graphite market] demand has really fallen away in the last year.”

While NMC cathodes and natural graphite anodes are still quite popular outside of China, slower demand growth in 2024 has seen many of the major anode producers cut back output, he added.

Looking more long-term, Willoughby admitted the market could become opaque.

“It’s been a challenge to keep the ever-evolving supply and demand dynamics in check, particularly when the market has to increasingly consider regional regulations like the Inflation Reduction Act,’ he said. “We see China continuing to operate at a surplus over the next decade because of its existing capacity, but the rest of the world still looks to need more capacity for both natural and synthetic anodes if it wants to meet its own demand.”

This position was reiterated by Benchmark Intelligence’s Alderson who referenced the mounting geopolitical tensions between the East and West as a pain point in the long-term ex-China market buildout.

“China dominates not only natural graphite production (76 percent) but also downstream markets, controlling 79 percent of natural graphite anode and 98 percent of synthetic graphite anode supply globally,’ he said. “This highlights that the deeper into the supply chain you go, the more entrenched China’s dominance becomes. They form the backbone of the anode supply chain, and it will be a challenge for the West to break.”

Alderson pointed to China’s December 3, 2024, implementation of an immediate ban on dual-use exports intended for US military applications, along with heightened end-use reviews for exports like graphite to the US.

Building a North American supply pipeline

To offset Chinese control, the US has taken notable steps to onshore supply.

“Since the US IRA’s announcement in August 2022, over 500,000 tpa of anode capacity has been added, over a 200 percent+ increase,” said Alderson.

This move has been supported by government funding.

In November, 2023 South Star Battery Metals (TSXV:STS,OTCQB:STSBF), received a US$3.2 grant from the Department of Defense (DoD) under the IRA to advance its flagship BamaStar graphite project in Alabama.

Similarly, Graphite One’s (TSXV:GPH,OTCQX:GPHOF) Alaska-focused subsidiary was the recipient of a US$37.5 million DoD grant in July of 2023, to cover costs associated with “accelerated Feasibility Study” on its name sake project.

In September of the same year, the company penned a US$4.7 million contract with the DoD’s Logistics Agency to develop a graphite and graphene-based foam fire suppressant as an alternative to incumbent PFAS fire-suppressant materials, as required by US law.

“Private companies are also ramping up onshoring efforts by inking offtake agreements with U.S. anode producers, setting a record in 2024 for such deals,” said Alderson.

“Despite these advancements, North America faces a 200,000 tpa market deficit in 2024, expected to grow as EV demand accelerates. As such, notable investment will be required to drive growth and achieve any form of self-sufficiency,” he added.

As new North American supply becomes imperative, the sole continental producer Northern Graphite (TSXV:NGC,OTCQB,FRA:0NG), faced challenges in the low-price environment of 2024.

“While we are also moving forward to open a new pit at the Lac des Iles (LDI) and restart the plant at a higher throughput in January to meet rising demand, unless we can see our way through to higher prices, long-term supply agreements with battery makers and support from governments in Ontario, Quebec, Canada and/or the United States, the Company will continue to struggle whilst these challenging market conditions prevail for ourselves and the rest of the industry,” Chief Executive Officer Hugues Jacquemin said in the Q3 update.

To aid in offsetting these pressures, Northern Graphite was able to negotiate a price increase with its customers in early January to mitigate inflation and higher production costs.

Trends to watch in 2025

As 2025 progresses both market experts offered insight on which trends could be the most impactful to the market.

“We’re expecting more bifurcation of the China and ex-China markets,” said Wood Mackenzie’s Willoughby.

“In 2024, we saw domestic Chinese prices sink much more rapidly and to a greater extent than export prices,” he said. “We expect them to remain low in 2025, but for US and European benchmarks to begin to climb again as the shift away from China as their major supplier creates tightness in that market.”

The sheer volume needed in the North American market is likely to provide price insulation for graphite produced outside of China.

“Given the relative lack of ex-China mines, new production isn’t expected to dent this outlook too much,” he added.

For Alderson, volatility will reign supreme in the first half of 2025.

“Excess inventory overhang of battery-grade -100 mesh is expected to sustain high supply levels through 2025 despite forecasted reduction in production costs within the Chinese market,” he said. “Consequently, prices are forecasted to decline further in H1 2025, averaging US$413 per metric ton, down 22 percent year-over-year.”

He sees more stability materializing in the latter half of the year.

“In H2 2025, prices are set to recover moderately as inventories shrink and stock levels normalise with China’s overall production experiencing a gradual recovery,” he said. “However, ongoing competition from synthetic graphite for battery end use applications, will likely cap price growth.”

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

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Inside Billionaire Gina Rinehart’s Key Mining Investments (Updated 2025)

January 21, 2025 No Comments

Australian billionaire Gina Rinehart has become a formidable force in the global mining industry.

After taking the helm of her father’s iron ore mining firm Hancock Prospecting in 1993, Rinehart embarked upon a diversification strategy that has vastly expanded her resource empire. Now Australia’s richest person, Rinehart has investments in many of the world’s most strategic commodities such as lithium, rare earths, copper, potash and natural gas.

One of those investments is Arafura Rare Earths (ASX:ARU,OTC Pink:ARAFF), which even in a low price environment for rare earths has managed to secure nearly AU$1.5 billion in debt financing in mid-2024 to advance its Nolans project in the Northern Territory. With a 10 percent equity stake, Rinehart’s Hancock Prospecting is Arafura’s largest shareholder.

In addition to Arafura, entrepreneur Rinehart’s investment portfolio also contains other ex-China, green-transition-focused companies such as Australian lithium firm Liontown Resources (ASX:LTR,OTC Pink:LINRF), as well as rare earths producers MP Materials (NYSE:MP) and Lynas Rare Earths (ASX:LYC,OTC Pink:LYSCF). Rinehart’s role in the acquisition of Azure Minerals’ Andover lithium project in Western Australia alongside lithium giant SQM (NYSE:SQM) also made headlines in the past year.

Who is Gina Rinehart?

Gina Rinehart is an Australian iron ore magnate and the executive chair of Hancock Prospecting, as well as the richest person in Australia and one of the world’s richest women. Rinehart is the daughter of Australian mining mogul and Hancock Prospecting founder, the late Lang Hancock. As the current executive chair of Hancock Prospecting, Rinehart won the inaugural Lifetime Achievement Award from CEO Magazine in 2019.

Rinehart was appointed as an Officer of the Order of Australia in 2022 for her “distinguished service to the mining sector, to the community through philanthropic initiatives, and to sport as a patron.”

How did Gina Rinehart get rich?

Gina Rinehart inherited Hancock Prospecting after her father’s passing in 1992. The following year, Gina Rinehart’s company acquired the Roy Hill tenements. Centering the massive project as the cornerstone of the company, Hancock Prospecting has greatly benefited from the iron ore market boom that began in the early 2000s.

Today, Roy Hill is Australia’s largest iron ore mine, producing 60 million tonnes of iron ore per year. The mine was recently approved to increase its annual production to 70 million tonnes. Success at Roy Hill has made Hancock Prospecting Australia’s most valuable private company, worth an estimated AU$15.6 billion.

As with many of the world’s most successful billionaires, Gina Rinehart has developed an investment strategy based on strategic partnerships as well as diversification to mitigate risk and build value. Under her leadership, Hancock Prospecting Pty Limited (HPPL) as well as the HPPL Group of companies has expanded into some of the world’s most economically important markets, such as real estate, agriculture, energy and critical metals.

For the 2024 fiscal year, Rinehart’s Hancock Prospecting reported a bumper profit of AU$5.6 billion, up 10 percent from the previous year.

What mining companies does Gina Rinehart own?

Through her company Hancock Prospecting, Gina Rinehart owns interest in mining companies across many sectors, including iron ore, lithium, rare earths, copper, oil and gas, as well as potash. While much of her investment portfolio is focused on Australia and ASX companies, Rinehart is actively strengthening the geographical diversification of her investments.

In recent years, Rinehart has made a series of key investments in mining companies, especially targeting critical metals projects in Germany, Brazil, Ecuador and the United States. These include exploration-stage firms such as Titan Minerals (ASX:TTM) and Azure Minerals as well as producers such as Atlas Iron and MP Materials.

Where does Hancock Prospecting mine iron?

Vehicles hauling ore at Roy Hill iron ore mine.

Vehicles hauling ore at Roy Hill iron ore mine.

Photo of Roy Hill iron ore mine via Roy Hill.

Hancock Prospecting’s Roy Hill and Hope Downs iron ore mines are located in the resource rich Pilbara region of Western Australia.

Roy Hill has attracted strategic partnerships with major global enterprises: Marubeni (TSE:8002) with a 15 percent equity stake; POSCO (NYSE:PKX,KRX:005490) holds a 12.5 percent stake; and China Steel (TPE:2002) has a 2.5 percent equity position. The minority partners purchase a combined 28.75 million tonnes of iron ore annually from Roy Hill’s production.

In September 2024, Hancock Prospecting got the green light for its AU$600 million McPhee iron mine located about 100 kilometres north of the Roy Hill mine after a long approval process. The McPhee iron mine is expected to produce around 10 million tonnes of the metal each year over an estimated 15 year mine life. First production is expected to kick off next year, and ore will be transported by road trains to Roy Hill for processing and blending. The goal is to improve the larger mine’s product mix and sustain its production volumes.

The Hope Downs iron ore complex is another of Australia’s largest iron ore projects. A 50/50 joint venture partnership with Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), Hope Downs hosts four open-pit mines and has an annual production capacity of 47 million tonnes. Hope Downs has also been the subject of a more than decade-long civil dispute in a Western Australian court over royalties, put forth by the descendants of Lang Hancock’s business partner Peter Wright as well as Rinehart’s own children.

Gina Rinehart’s iron ore investments

Gina Rinehart’s iron ore investments in Western Australia extend beyond Roy Hill and Hill Downs to its subsidiary Atlas Iron’s three producing mines and a pipeline of development projects, as well as an earn-in agreement on Legacy Iron Ore (ASX:LCY) and Hawthorn Resources’ (ASX:HAW) Mt Bevan project through its subsidiary Hancock Magnetite Holdings.

Rinehart’s Hancock Prospecting acquired Atlas Iron in 2018 through a AU$427 million deal that turned out to be dirt cheap as the company would go on to deliver AU$1.5 billion in revenues over the next three years alone.

Today, Atlas Mines operates the Mt Webber, Sanjiv Ridge and Miralga Creek mines. Production from these mines in its fiscal year ended June 2023 led to a AU$222 million dividend payment for Rinehart’s Hancock Prospecting.

At Mt Bevan, as part of its earn-in agreement, Hancock completed a prefeasibility study (PFS) for a 12 million tonne per year high-grade magnetite project in July of 2024. The PFS incorporated a mineral resource estimate totalling 1,291 million tonnes, which was completed by Atlas, and delineates a capital cost of AU$5 billion to develop the potential Mt Bevan mine.

Completion of the PFS increased Hancock’s stake in the JV ownership from 30 percent to 51 percent with Legacy now holding 29.4 percent and Hawthorn 19.6 percent.

Like iron, coal is another essential material in steel manufacturing. To this end, Rinehart is also pursuing an investment in a past-producing metallurgical coal mine in Alberta, Canada. Hancock Prospecting subsidiary Northback Holdings is the owner of the proposed Grassy Mountain steelmaking coal project in the province’s Crowsnest Pass region. Northback is awaiting approval of its exploration licenses for the project.

Gina Rinehart’s lithium investments

Gina Rinehart’s lithium investments include Azure Minerals’ (ASX:AZS) Andover lithium project, Liontown Resources, Delta Lithium (ASX:DLI) and Vulcan Energy Resources (ASX:VUL). The majority of her lithium investments have came in a flurry over the past year.

In June 2023, Rinehart’s Hancock Prospecting signed a separate joint venture earn-in agreement for the Mt Bevan magnetite project, which is discussed above, this time for the lithium, nickel and copper mineralization at the project. The agreement will similarly see Hancock able to earn a 51 percent interest by completing certain milestones.

Last September, Rinehart made headlines when she took a position in Liontown Resources and then rapidly increased the position to 19.9 percent over the following month. This allowed Hancock, which was now Liontown’s largest shareholder, to effectively block Albemarle’s (NYSE:ALB) accepted takeover of the smaller lithium company.

However, since then, Liontown’s stock has taken a hit as the economics for its near-production Kathleen Valley lithium project in Western Australia have been damaged by the effects of high inflation and low lithium prices. Ultimately, in January, Albemarle decided to sell off its 4 percent stake in Liontown Resources. The lack of any further moves or comment by Rinehart in relation to Liontown Resources has led to speculation she may be waiting for the right opportunity to buy up the lithium company at a discount.

Kathleen Valley entered production in late July 2024, and is expected to produce approximately 2.8 million tonnes per year of spodumene concentrate by the end of FY 2027.

That wasn’t the only lithium bid Rinehart blocked in October 2023. As is her strategy, Rinehart scooped up an 18.9 percent stake in Azure Minerals last year after SQM announced its intention for a total takeover of the company and its Andover lithium project in the West Pilbara region of Western Australia. This story had a different ending, though, as Hancock Prospecting instead joined the lithium giant in a AU$1.7 billion deal to become a co-owner of the exploration-stage Andover project, which also hosts nickel, copper and cobalt mineralisation. The deal closed in May 2024.

Shortly after its Liontown and Azure moves last year, Hancock Prospecting continued investing in Western Australia’s lithium prospects when it participated in a AU$70.2 million fundraising for Delta Lithium in November 2023. The proceeds of the fundraising will help Delta Lithium to fund the development of its Mt Ida lithium-gold project, which is adjacent to Hancock’s Mt Bevan joint venture project. As of November 2024, Hancock Prospecting owns 10.65 percent of Delta Lithium.

Rinehart has made lithium investments outside of Australia as well. Looking further afield to Germany, with a 7.5 percent stake, Hancock Prospecting is the second largest shareholder in Vulcan Energy and its flagship Zero Carbon lithium project in Germany’s Upper Rhine Valley, a milestone Rinehart’s company reached after investing an additional AU$20 million in Vulcan, which made headlines in June. The Zero Carbon project is slated to produce an initial 24,000 tonnes of lithium hydroxide by the end of 2025, targeting Europe’s electric vehicle manufacturing sector.

In November 2024, Vulcan Energy reached another major milestone with first production at its downstream lithium hydroxide optimisation plant, which is designed to produce lithium hydroxide and battery-grade lithium hydroxide monohydrate.

Gina Rinehart’s rare earths investments

Facilities at MP Materials

Facilities at MP Materials’ Mountain Pass rare earths mine.

clayton harrison / Shutterstock

Through Hancock Prospecting, Gina Rinehart has recently made investments in some of the world’s most well known rare earths producing companies — US-based MP Materials and Australia’s Lynas Rare Earths — as well as development-stage Arafura Rare Earths and exploration-stage Brazilian Rare Earths (ASX:BRE). Rinehart taking a position in these rare earths companies shows she is looking to capitalise on the significant need for these critical metals outside of China.

As mentioned in the introduction to this article, Rinehart’s Hancock Prospecting is the largest shareholder of Arafura Rare Earths, giving it a 10 percent stake in the advanced-stage Nolans project in the Northern Territory. Rinehart made the investment in December 2022.

In April of 2024, Rinehart made two significant moves into the sector. The first came on April 9, when it was revealed that Hancock Prospecting had acquired a 5.3 percent stake in MP Materials, the second largest rare earths producer outside of China. The company’s California-based Mountain Pass mine is the only integrated rare earth mining and processing operation in North America.

Rinehart’s investment in MP Materials could later bring in “Roy Hill-type cash flow,” Dylan Kelly, head analyst at Terra Capital, told Australian Financial Review. “Anything that is producing and not China-aligned is highly strategic. These materials are very, very hard to make and there’s a lot of demand in making magnets for electric vehicles and wind turbines.’

One week later, Rinehart’s Hancock Prospecting also took up a 5.82 percent interest in Lynas Rare Earths, the largest ex-China rare earths producer. The Australian rare earths miner produces the critical metals at its Mount Weld mine in Western Australia and ships the raw material to Malaysia for processing. Lynas is also ramping up processing at its Kalgoorlie rare earth processing facility in Australia, and building light rare earths processing facilities and a heavy rare earths separation facility in Texas, US.

Rinehart’s near simultaneous investments in both Lynas and MP Materials comes after merger talks between the two rare earths behemoths stalled in February. There is speculation stirring that Rinehart’s participation could renew merger discussions, Reuters reported. In November, the mining mogul increased her position in MP Materials to 8.5 percent, further raising the possibility of a merger down the road.

Andy Forster, Lynas investor and senior investor of Argo Investments, had his interest piqued by Rinehart’s move ‘given she’s clearly made a play across the whole space. She obviously wants to potentially have a seat at the table if there’s any chance of consolidation.’

Rinehart is also getting her foot in the rare earths door at the exploration level. In 2023, Rinehart’s Hancock Prospecting made a pre-IPO investment for a 5.85 percent share in Brazilian Rare Earths, which went on to list on the ASX in December of that year. The rare earths explorer is working its district-scale Rocha da Rocha rare earth province in the state of Bahia, Brazil. The province is highly prospective for both heavy and light rare earths, with grades of over 40 percent total rare earth oxides found. Brazilian Rare Earths is working to complete an updated JORC mineral resource estimate.

Gina Rinehart’s copper investments

Gina Rinehart’s copper investments are centered on Ecuador’s Andean copper-gold belt, and include explorer Titan Minerals and Ecuador’s state-owned Empresa Nacional Minera (ENAMI).

Ecuador has seen a rush of major mining companies taking up positions in key copper and gold projects in recent years, placing Hancock Prospecting in the company of Barrick Gold (TSX:ABX,NYSE:GOLD), Zijin Mining (HKEX:2899) and Anglo American (LSE:AAL,OTCQX:AAUKF).

Rinehart’s Ecuadorian copper investments are in line with her shift toward the critical metals necessary for the green transition and her strategy to expand the global footprint of her mining empire.

Hancock Prospecting subsidiary Hanrine Ecuadorian Exploration and Mining has been in the region since 2017, but recently began making more investments. In March 2024, Hancock Prospecting subsidiary Hanrine Ecuadorian Exploration and Mining acquired a 49 percent stake in six mining concessions for AU$186.4 million. The deal sees it partner with state mining company ENAMI for the concessions, which surround the stalled Llurimagua copper-molybdenum project in Northern Ecuador.

In late April, Ecuador’s constitutional court nixed appeals by ENAMI and its partner in the Llurimagua project, Chile’s state-owned CODELCO, to review the March 2023 decision by Imbabura’s provincial supreme court suspending the environmental license for Llurimagua.

Shortly after the investment with ENAMI, Rinehart’s Hanrine made another play in Ecuador by striking an earn-in agreement with Titan Minerals for up to an 80 percent ownership stake in the explorer’s Linderos copper-gold project contingent on up to AU$120 million in exploration spending. Linderos is an early-exploration stage project with the potential to host a large-scale copper porphyry system. Hanrine has made an initial investment of AU$2 million for a 5 percent stake.

Gina Rinehart’s oil and gas investments

Gina Rinehart’s oil and gas investments include private firms Warrego Energy in Western Australia and Senex Energy in Queensland.

In February 2023, Hancock Prospecting won a protracted bidding war for the then-public Warrego with Warrego’s joint venture partner Strike Energy (ASX:STX) for a price of AU$0.36 per share. Warrego and operator Strike Energy maintain their 50/50 joint venture on the West Erregulla onshore gas field within exploration permit EP 469 near Perth in Western Australia.

In mid-August 2024, the West Erregulla project received its production licence and the partners expect to start operations once a final investment decision is made later this year. During phase one, the project is expected to produce 87 terajoules per day.

As for Senex Energy, it is a joint venture between POSCO (50.1 percent) and Hancock Prospecting subsidiary Hancock Energy (49.9 percent) that holds the Atlas and Roma North natural gas developments in Queensland’s Surat Basin. The two JV partners acquired Senex in 2022, with Rinehart’s company putting up AU$440.89 million.

Senex Energy is embarking on a AU$1 billion expansion endeavor at Atlas and Roma North this year that will see 60 petajoules of natural gas delivered to Australia’s east coast market annually by the end of 2025. This figure represents more than 10 percent of the region’s demand. Regulatory approval for the expansion was finally approved following an uphill battle with a Federal government more keen on renewable energy projects than the natural gas variety. Hancock Prospecting reported the first flows of gas production from the expansion field in late November 2024.

Rinehart once had a significant stake of nearly 20 percent in Lakes Oil, now Lakes Blue Energy (ASX:LKO), through subsidiary Timeview Enterprises. Timeview’s stake in Lakes Blue Energy has been lowered in recent years, but it remains the company’s fourth largest shareholder at 4.63 percent.

In late October, Rinehart offered financial assistance to Mineral Resources (ASX:MIN,OTC Pink:MALRF), a diversified mining company with lithium, iron ore and oil and gas operations in Western Australia. Headed by another mining heavyweight, Chris Ellison, Mineral Resources, or MinRes, is reportedly drowning in debt and embroiled in a tax evasion investigation. At that time, Hancock Prospecting agreed to a AU$1.13 billion buyout of MinRes’ oil and gas projects in the Perth Basin and an exploration acreage in the Carnarvon Basin.

The 100 percent sale of two of MinRes’ exploration permits to Hancock was completed in December for initial consideration of AU$780 million, with potential for up to AU$327 million depending on whether certain conditions and thresholds are met. The permits include the Moriarty Deep prospect and the Lockyer gas and Erregulla oil discoveries.

Separate to that sale, the two companies are also forming two 50/50 exploration joint ventures for MinRes’ remaining permits in the Perth and Carnarvon Basins. Hancock will acquire 50 percent of the MinRes Explorer drill rig, which is the largest in Australia.

Gina Rinehart’s potash and agriculture investments

Gina Rinehart’s potash and agricultural investments center on Hancock Prospecting’s ownership interests in multiple premium cattle stations in Australia, and the company’s royalty revenue generated from the Anglo-American-controlled Woodsmith potash project currently under construction in the United Kingdom.

With an original investment of AU$380.6 million in 2016 to then-owner Sirius Minerals, Hancock Prospecting has a 5 percent revenue royalty on the first 13 million tonnes of fertiliser produced from Woodsmith and 1 percent thereafter. Hancock also has a 20,000 tonne-a-year offtake option. The timeline for Rinehart’s royalty revenue has been pushed back, however, as Anglo is cutting spending at Woodsmith following BHP’s (ASX:BHP,NYSE:BHP,LSE:BHP) failed mega-merger with Anglo American.

Investor takeaway

With Gina Rinehart at the helm of Hancock Prospecting, the Roy Hill iron ore mine has generated stellar revenues. That wealth creation not only made her Australia’s richest person, but has also built a powerful war chest from which Rinehart is expanding her mining empire.

Investors can take cues from her recent and future moves in the mining sector. Although she may be defensive toward renewable energy technologies encroaching on agricultural land, she understands the strategical importance of investing in critical metals for the green transition such as lithium, rare earths and copper.

FAQs for Gina Rinehart

How much is Gina Rinehart worth?

Gina Rinehart’s net worth is reported to be AU$40.61 billion as of May 31, 2024. That’s up 8.5 percent over the previous year, according to figures from the Australian Financial Review’s Rich List 2024.

‘Rinehart’s net worth jumped $3.2b in the last year thanks to multiples in the sector expanding,’ the list’s authors explain. ‘However, her iron grip on the Rich List top spot may be weakened by ore price declines in 2024, on the back of concerns over steel output reducing in China.’

What company does Gina Rinehart own?

Gina Rinehart owns Hancock Prospecting, a private company founded by her late father Lang Hancock. Originally an iron ore mining company, today the firm has strategic stakes in a wide-range of metals and commodities from lithium and rare earths to copper and agriculture, which are detailed in this article.

Can I buy shares in Hancock Prospecting?

While investors can’t buy public shares in privately held Hancock Prospecting, they can take equity positions in the publicly traded stocks in which the company itself holds interest. Some of these stocks include Arafura Rare Earths (ASX:ARU,OTC Pink:ARAFF), Liontown Resources (ASX:LTR), MP Materials (NYSE:MP) and Lynas Rare Earths (ASX:LYC).

Does Gina Rinehart own Rio Tinto?

Although she has interest in many mining companies and the two companies share the Hope Downs joint venture, Gina Rinehart does not own mining giant Rio Tinto. Yahoo Finance reports that Aluminum Corporation of China (SHA:601600) is its largest shareholder at 11 percent, followed by BlackRock (NYSE:BLK) with 8.7 percent and the Vanguard Group at about 3.1 percent of shares.

What does Gina Rinehart think about nuclear energy?

Gina Rinehart is pro-nuclear energy. During a speech at The Australian Bush Summit in 2023, she railed against the impact of wind and solar farms on much needed agricultural land in Australia. She suggested that nuclear energy offers a more viable solution for reaching the country’s net zero targets.

Is Gina Rinehart the richest person in Australia?

Gina Rinehart is the richest person in Australia. In 2024, she made the Australian Financial Review’s Rich List for the fifth consecutive year in a row. The next richest Australian, real estate developer Harry Triguboff, trails her by about AU$14 billion.

Is Gina Rinehart the richest woman in the world?

Gina Rinehart is not the richest woman in the world, but she does rank as the world’s ninth richest woman in 2024. The distinction of richest woman in the world goes to France’s Francoise Bettencourt Meyer, the heir of L’Oréal (EPA:OR). Rinehart previously held the title in 2012.

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

This post appeared first on investingnews.com

In Investing

Don Saladino, Personal Trainer to Hollywood’s A-List, Joins Cizzle Brands as an Advisor

January 21, 2025 No Comments

Hollywood actors, professional athletes, and award-winning musicians alike have all relied on Don Saladino, coach and trainer of over 20 years, to reach their full potential in physical fitness. As an advisor to Cizzle Brands, Mr. Saladino will provide his insights, expertise, and access to his vast professional network for the commercialization and promotion of Cizzle Brands’ product lines at a global scale.

Cizzle Brands Corporation (Cboe Canada: CZZL) ( the ‘Company or ‘Cizzle Brands’) , is pleased to announce that Don Saladino, a renowned coach and fitness expert to many A-List celebrities, professional athletes, and award-winning musicians has been engaged as an advisor to Cizzle Brands to help guide the Company’s commercialization journey in the health and wellness space. Under his agreement with Cizzle Brands, Mr. Saladino will provide sales, marketing, and promotional support for Cizzle Brands’ offerings, including through his TikTok (165k followers) and Instagram (432k followers) social media channels.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250121943080/en/

Don Saladino’s one-minute Intro Reel video can be viewed on YouTube: https://www.youtube.com/watch?v=5L57AYEjZF4 (Photo: Business Wire)

Mr. Saladino has developed a reputation for training several A-List Hollywood stars, including Ryan Reynolds, Blake Lively, Anne Hathaway, John Krasinski, Emily Blunt, Liev Schreiber, Hugh Jackman and Joanna Gaines. In 2020, Mr. Saladino pivoted from running a brick-and-mortar gym in New York City to operating a global online fitness business which includes workout programs and challenges, an e-commerce portal for supplements, the Don Saladino App (available on the Apple App Store and Google Play), and yearly fitness retreats. Mr. Saladino has an extensive network of celebrity personalities to whom he will be supplying Cizzle Brands’ products throughout the course of their training programs.

Additionally, Mr. Saladino has received extensive media coverage. Magazines such as Men’s Health , Women’s Health , and Muscle & Fitness have cited Mr. Saladino as a fitness expert. Muscle & Fitness has also featured Mr. Saladino on its print magazine cover in March 2018, October 2021, and November 2023. Other publications have featured Mr. Saladino including People , US Weekly , Cosmo , and Shape . Additionally, Mr. Saladino has done live fitness demonstrations on The Golf Channel , The Today Show , Good Morning America , Page Six TV , People NOW , E News , Fox News , and WebMD .

More information about Don Saladino can be found on his website at the following link: https://donsaladino.com/

Cizzle Brands Chairman and Chief Executive Officer, John Celenza, commented, ‘We are keen to be working with Don, as he is one of the most recognized names in the fitness world with a highly engaged following, a well-earned reputation for generating results, and a broad network of highly influential executives. Cizzle Brands is only getting started with building out its presence in the world of health and wellness. With Don’s knowledge of what the world’s most elite athletes, entrepreneurs, and actors are demanding, we expect he will prove to be extraordinarily valuable to us as an advisor.’

Regarding his appointment as an advisor to Cizzle Brands, Don Saladino commented, ‘In today’s marketplace, very few companies truly have what it takes to formulate and produce athlete-grade products for training, nutrition, hydration, and overall wellness while also being appropriate for active people of all ages. The proven team behind Cizzle Brands has already demonstrated their ability to meet this standard with the recent successful launch of CWENCH Hydration which has already sold more than one million ready-to-drink units in less than a year on the market, with even more exciting offerings set to hit the market soon. As someone who personally incorporates Cizzle Brands’ products into nutrition regimes for myself, my wife, and our two children, I am honoured to be part of the Cizzle Brands team, and there are exciting times to be had for all of us in 2025!’

Cizzle Brands also announced the issuance of 455,645 common shares (the ‘Settlement Shares’) of the Company at a deemed price of $0.31 in settlement of $141,250 in debt. The Settlement Shares were issued to a provider who elected to receive part of their service fee in shares as opposed to cash. The Settlement Shares will be subject to a statutory hold period expiring four months and one day after the date of issuance pursuant to National Instrument 45-102 – Resale of Securities .

Celenza added: ‘I’ve always sought to have our key partners invested in our success, so I was pleased when one of our key professional advisers opted to receive part of their fee in equity. To me, it is one of the highest endorsements we’ve received to date.’

About Cizzle Brands Corporation

Cizzle Brands Corporation is elevating the game in health and wellness. Through extensive collaboration and testing with leading athletes and trainers across several elite sports, Cizzle Brands has launched two leading product lines in the sports nutrition category: (i) CWENCH Hydration, a better-for-you sports drink that is now carried in over 1,200 stores in Canada, the United States, and Europe; and (ii) Spoken Nutrition, a premium brand of athlete-grade nutraceuticals that carry the prestigious NSF Certified for Sport® qualification. All Cizzle Brands products are designed to help people achieve their best in both competitive sports and in living a healthy, vibrant, active lifestyle.

For more information about Cizzle Brands, please visit: https://www.cizzlebrands.com/

Notice Regarding Images and Links: This press release may contain images and/or links to outside web pages, which could play an important role in providing the full context of the news update being conveyed through this press release. Some news aggregation services may remove these images and/or links at their discretion. Therefore, readers are encouraged to access SEDAR+ or the News section of the Cizzle Brands Corporation website to view this press release containing all images and/or links as originally published.

On behalf of the Board of Directors of the Company,

Cizzle Brands Corporation

‘John Celenza’

John Celenza, Chairman and Chief Executive Officer

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release contains ‘forward-looking information’ which may include, but is not limited to, information with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, such as, but not limited to: new products of the Company and potential sales and distribution opportunities; the role of Mr. Saladino with Cizzle Brands; the supply of Cizzle Brands’ products through Mr. Saladino’s training programs; the building of Cizzle Brands’ presence in the world of health and wellness; and the value of Mr. Saladino as an advisor to Cizzle Brands. Such forward-looking information is often, but not always, identified by the use of words and phrases such as ‘plans’, ‘expects’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’, or ‘believes’ or variations (including negative variations) of such words and phrases, or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company.

Forward looking information involves known and unknown risks, uncertainties and other risk factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks, regulatory risks, financing, capitalization and liquidity risks. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause 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. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation, except as otherwise required by law, to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250121943080/en/

For further information, please contact:

Setti Coscarella
Head of Corporate Development
investors@cizzlebrands.com
1-844-588-2088

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Hempalta Corp. Announces Enhanced Strategic Focus on Carbon Credit Business and Non-Brokered Private Placement

January 21, 2025 No Comments

Strategic Focus on Nature-Based Carbon Credit Solutions
Through Hemp Carbon Standard

Proposed non-brokered private placement of up to 30,000,000 units
at $0.05 per unit for aggregate gross proceeds of up to $1,500,000

Hempalta Corp. (TSXV: HEMP) (‘Hempalta’ or the ‘Company’) today announced an enhanced strategic focus on nature-based carbon credit solutions. As part of this focus, the Company will transition its operations to prioritize premium hemp-derived carbon credits through its subsidiary, Hemp Carbon Standard Inc. (‘HCS’), while continuing to manage its intellectual property and product lines under Hempalta Processing Inc.

In addition, the Company announced a proposed non-brokered private placement of up to 30,000,000 units of the Company (‘Units‘) at a price of $0.05 per Unit for aggregate gross proceeds of up to $1,500,000 (the ‘Private Placement‘). Each Unit will consist of one common share (‘Common Share‘) and one-half of one common share purchase warrant, with each full warrant (‘Warrant‘) being exercisable to purchase one Common Share at a price of $0.10 for two years from the date of issuance.

Highlights of Enhanced Focus on Carbon Credit Business

Hemp Carbon Standard

A wholly owned subsidiary dedicated to developing and managing the scientific methodologies, farmer onboarding, and validation frameworks for hemp-based carbon credits. HCS plans to ensure transparency and integrity in measuring, verifying, and issuing high-quality credits that meet global market demand.

Hempalta Processing Inc.

Non-Brokered Private Placement

The Company intends to complete the Private Placement pursuant to available prospectus exemptions. The use of proceeds from the Private Placement is dependent on the final amount raised and will be used to: scale the HCS platform, to market carbon credits to corporate buyers, for general working capital and to pay the expenses of the Private Placement.

The Company may pay finders’ fees to eligible finders, in accordance with applicable securities laws and the policies of the TSX Venture Exchange (‘TSXV‘). The Private Placement is subject to approval of the TSXV, and all securities issued under the Private Placement will be subject to statutory hold periods expiring four months and one day from the date of issuance.

Comments from Management

‘Placing a direct strategic focus on our carbon credit business marks an important evolution for our company,’ said Darren Bondar, President and CEO of Hempalta. ‘The $1.5 million private placement at $0.05 per Unit offers investors an opportunity to support the next phase of our journey. We’re excited to focus on the scalable, low-capital potential of carbon credit solutions, while continuing to nurture our established product lines through Hempalta Processing Inc. This strategy aligns with global sustainability goals and positions us to capitalize on the growing market for nature-based climate solutions.’

Strategic Rationale

With global demand rising for verifiable carbon offset solutions, Hempalta is uniquely positioned to leverage industrial hemp’s carbon sequestration potential. Going forward the Company aims to:

Provide Credible Carbon Credits: Aligning HCS with recognized standards, third-party verifiers, and remote sensing technology to realize maximum benefits of hemp-based offsets.
Expand Farmer Participation: Incentivizing regenerative industrial hemp cultivation through robust revenue-sharing models tied to carbon credit issuance.
Enhance Stakeholder Value: Focusing on generating high-margin, recurring carbon credit sales, which are intended to drive long-term growth.

Next Steps & Corporate Outlook

The Company believes these efforts can facilitate a transition beneficial for existing shareholders, aligning them with an evolving revenue model that taps into nature-based carbon credits.

Investor Updates

You can stay updated on Hempalta’s operating developments and investor announcements by subscribing to the mailing list on the Investor Relations website page. An updated version of the Company presentation is also available on the website.

About Hempalta

Hempalta Corp. (TSXV: HEMP) is a nature-based carbon credit provider utilizing industrial hemp’s potential to sequester carbon. Through its subsidiary Hemp Carbon Standard Inc. (HCS), the Company develops methodologies and supports farmers in monetizing regenerative farming practices. In addition to HCS, through its subsidiary Hempalta Processing Inc., the Company retains its established hemp-based product lines for licensing, supporting a balanced portfolio that addresses modern sustainability needs.

Learn more at www.hempalta.com or contact Investor Relations at invest@hempalta.com.

For more information, please contact:

Darren Bondar
Chief Executive Officer

Hempalta Corp.
1560 Hastings Crescent SE, Calgary, AB T2G 4E1
Web: https://www.hempalta.com/
Email:info@hempalta.com

Sales or partner opportunities:
Cecil Horwitz
Business Development
cecil.horwitz@hempalta.com

Forward-Looking Information

This news release contains statements and information that, to the extent that they are not historical fact, may constitute ‘forward-looking information’ within the meaning of applicable securities legislation. Forward-looking information is typically, but not always, identified by the use of words such as ‘will’, ‘expected’, ‘plans’, ‘aims’, ‘intends’ and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Forward-looking information in this news release includes, but is not limited to, statements regarding: the enhancement of the strategic focus on the nature-based carbon credit solutions; the transition of the Company’s operations to prioritize premium hemp-derived carbon credits through its subsidiary HCS; the Company’s plans and intentions with respect to the proposed operations of HCS, including its aims to provide credible carbon credits, expand farmer participation and enhance stakeholder value, and the expected benefits and results thereof; the Company’s plans and intentions with respect to the proposed operations of Hempalta Processing Inc., including the offering of key product lines for licensing, the ceasing of active processing operations and the marketing and sale of pre-processed products, and the expected benefits and results thereof; the Private Placement, including the proposed use of proceeds thereof; and the Company’s pursual of strategic partnerships, the marketing of its turnkey hemp production facility and processing equipment, and the entertaining of licensing proposals to advance its product lines. Such forward-looking information is based on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors and assumptions with respect to: the ability of the Company to successfully implement its strategic plans and initiatives and the expected benefits therefrom; the anticipated benefits of the business of HCS; the anticipated benefits from marketing the processing equipment; the ability of farms and sites currently signed up by HCS to grow hemp; the Private Placement and the ability of the Company to raise the anticipated proceeds under the Private Placement; the Company using the proceeds of the Private Placement as currently anticipated; required regulatory approvals; the ability of the Company to effect its proposed strategy and business plans; and the ability of HCS to sell carbon removal credits through the Voluntary Credit Market. Although the Company believes that the assumptions and factors on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct or that any of the events anticipated by such forward-looking information will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. Actual results may vary from those currently anticipated due to a number of factors and risks including, but not limited to: the risk that the Company will not be able to effect the proposed focus on the carbon credit business as anticipated or at all, and the risk that the carbon credit business will not yield benefits as anticipated or at all; regulatory requirements, including any requirements of the TSXV; the risk that the Company will not be able to effect the sale of the processing equipment and the risk that the sale will not yield the benefits as anticipated or at all; delays in obtaining or failure to obtain required regulatory approvals for the Private Placement; the risk that the Private Placement will not be completed as anticipated or at all, including inability to raise proceeds under the Private Placement; the inability of the Company to utilize the anticipated proceeds of the Private Placement as anticipated; risks associated with general economic conditions; conditions in the carbon credit markets; adverse industry events; the risk that the Company will not be able to successfully market the hemp production facility and processing equipment, and if done successfully, the risk that the benefits therefrom will not be as anticipated; delays or changes in the Company’s plans with respect to HCS and Hempalta Processing Inc.; the risk that farms and sites currently signed up by HCS will not grow or be able to grow industrial hemp as anticipated or at all; the risk that HCS may not be able to sell carbon removal credits as anticipated or at all; adverse weather conditions affecting the growth of hemp; future legislative, tax and regulatory developments; and the ability of management to execute its business strategy, objectives and plans. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRES

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Grid Battery Metals Update – Fall 2024 Drilling Results on its Clayton Valley Lithium Project

January 21, 2025 No Comments

(TheNewswire)

Coquitlam, BC TheNewswire – January 21, 2025 – Grid Battery Metals Inc. (the ‘Company’ or ‘Grid’) ( TSXV: CELL, OTCQB: EVKRF FRA: W47 ) is pleased to announce the results of its fall 2024 reverse circulation drilling program on the Company’s claim block at Silver Peak, Clayton Valley, Esmeralda County, Nevada. This strategic land package, covering approximately 2,300 acres (930 ha), directly adjoins the western portion of lithium producer Albemarle’s (NYSE: ALB) evaporation ponds and is nearby Century Lithium Corp.’s (TSXV: LCE) (OTCQB: CYDVF) proposed 5,430-acre Angel Island Lithium Mine, which recently released a Positive Feasibility Study detailing a 40-year mine life and an after-tax NPV8 of $3.01 billion .

Drilling Image from the Clayton Valley Lithium Project

Click Image To View Full Size

Mr. Tim Fernback, Company President and CEO comments ‘Now that we have the results of the fall 2024 exploration program at our Clayton Valley Lithium Project, we are excited about the next steps of further testing the lithium content of the claystones and brine in the southern part of the claim which is near the Silver Peak Lithium Mine. This area holds the greatest promise as a lithium deposit for our company at Clayton Valley. One of the stated goals of the fall drilling program was to test the depth of the accumulated lithium brine and claystones on our property which was completed. With this knowledge, we can propose a significant follow-on exploration program that will work towards an eventual maiden resource calculation and NI# 43-101 Preliminary Economic Assessment. We remain very excited about this opportunity in Nevada for our company and shareholders.’

Summary of the 2024 Fall Exploration Program at Clayton Valley

Grid Battery Metals completed a five-hole drill program in late October 2024, and assay results have since been returned. A total of 4735 feet were drilled to test for economic lithium clay and lithium brines with the Company landholdings located 1.2 miles northeast of Silver Peak, Nevada. Figure 1 shows the locations of the completed 2024 and 2021 holes.

The ingredients for lithium deposition including basin bounding faults, tuffaceous sediments, and geothermal waters are present on the Grid claims (Figure 2). Geologically, the property lies above a north trending fault graben on the west side of Clayton Valley called the Goat Island Graben. The surface is composed of alluvium, dunes, and playa sediments. Hot-spring related travertine, sinter, and tufa deposits occur on the west edge of the graben andare thought to represent upwelling and lithium bearing geothermal water from the deeper Clayton Valley basins to the east.

Tuffaceous sediments (including sinter and travertine), and alluvial gravels with anomalous lithium were encountered in nearly every hole. Water temperatures were elevated in all holes with a peak temperature of 85˚C in RCV-05. The presence of sinter and travertine in the holes suggests that hot-springs sediments covered a much broader area than the mapped exposures indicate.

Table 1 is a summary of assay results. Water assays were collected in 500 ml plastic bottles every 20 feet and sent to ALS Global where they were weighed, filtered, acidified, and analyzed by ICP-AP. Cutting samples were collected every 5 feet and sent to Bureau Veritas in Reno for analysis. Samples were processed, weighed and air-dried. Samples were crushed to 70% passing 10 mesh in a 250 g split. The analysis was by multi-acid digest with ICP-MS/ES finish. QA/QC standards, blanks, and field duplicates were inserted approximately every 20 samples.

Lithium concentrations in water samples were determined in all holes. The best drill-cutting intercept occurs in RCV-04 in tuffaceous sediments between 80 and 250 feet with an average of 298 ppm Li that includes grades to 741 ppm and is worthy of further exploration . Published low-grade clay-hosted lithium assays are approximately 800-850 ppm. While lithium assays generally diminish to the north, there is still untested property to the south to explore for shallow, but higher-grade lithium which is of considerable interest to the Grid Exploration Team.

The anticipated thickness of the sediments above Cambrian basement (1500-1800 feet) in the Goat Island Graben appears thinned by the presence of basalt with an unknown thickness that may occur along the length of the Graben. However, this ‘flow’ may lie on top of older sediments within the graben, G. and could potentially act as an ideal aquitard for lithium brines (Figure 2). Seismic survey lines would help to establish the basalt depth and plan for deeper drill targets. Grid Battery Metals will consider its exploration options for 2025 with a primary focus on the southern area of the claim block which returned the highest lithium drill results for the Company.

Figure 1: Grid Battery Metals property with drill hole locations, faults, and hot-spring related rocks

Click Image To View Full Size

Figure 2: Interpretive north facing cross-section showing extended hot-springs rocks and basalt. Section is located between RCV-01 and RCV-05

Click Image To View Full Size

Table1: Summary of Results

Click Image To View Full Size

Mr. Steven McMillin, P.G. Company Qualified Person, states ‘For a follow-up program consisting of shallow holes less than 600 feet could rapidly test for higher grade lithium to the south of RCV-04. For a deeper test beneath basalt, an active seismic test line should be considered to identify the basalt thickness and hopefully the graben bottom. Drilled lithologies, particularly basalt, will help calibrate the seismic results. If the results indicate there is a lower package of sediments, then more lines to the south RCV-04 and possibly over holes drilled to the north could be conducted. Magnetotelluric results in conjunction of the seismic results can be reinterpreted. From this, a much better geologic model can be constructed to plan deeper drill holes’.

Mr. McMillin continues ‘There is a possibility of a deeper section of sediments below the basalt in the Goat Island Graben. Basalt could be an excellent aquitard for lithium brines.’

Assays

Cutting samples were sent to Bureau Veritas (‘BV’) laboratory in Reno. Samples were processed, weighed and air-dried. The air drying was recommended by Applied Hydrologic of Reno because normal drying temperatures in a lab may volatilize lithium. Unfortunately, additional time was added to sample processing. After weighing, samples were crushed to 70% passing 10 mesh in a 250 g split. The analysis was by multi-acid digest with ICP-MS/ES finish.

Water samples were delivered to the ALS Global laboratory in Elko. The water samples were kept in a cooler with ice until delivery. Samples were logged in, filtered, and acidified. The analysis was done by ICP instrumentation.

Geology Logging

Lithology samples were captured every 5 feet using a strainer and placed into 20-compartment plastic chip trays for geologic logging. Chip logging into an Excel spreadsheet was conducted during night and day shifts. and lithology, structure, alteration, and mineralization were logged into separate worksheets.

Drillhole Geology

The geology of all holes drilled is summarized in Table 1. Material drilled includes lacustrine alluvial sediments, and basalt Common features encountered in nearly every hole include:

• Thin recent alluvium cover of approximately 20 feet.

• Clay and travertine/sinter intervals to approximately 400 feet from the surface.

• Basalt from approximately 400 feet with an unknown total thickness. The exceptions

are RCV-06 and RCV-08 where no basalt was drilled.

• Groundwater temperatures of 85̊-120̊ F. RCV-05 ended with 180˚ F water.

• Evidence of active hydrothermal alteration at multiple elevations in multiple

lithologies.

• Water flows of up to 220 gallons per minute.

Alteration in tuffaceous units consists of distinct greenish or gray clays.

Qualified Person

Mr. Steven McMillin, P.G. is an independent qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical information contained within this news release.

About Grid Battery Metals Inc. www.gridbatterymetals.com .

Grid Battery Metals Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company’s maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.

About Texas Springs Property

The Company owns a 100% interest in the Texas Spring Property which consists of mineral lode claims located in Elko County, Nevada. The Property is in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in volcanic tuff and tuffaceous sediments of the Humbolt Formation. A Phase 1 exploration program at the Texas Springs Property (Fall 2023) yielded average lithium grades of 2010 ppm, applying a 1,000 ppm cut-off, and up to 5,610 ppm Lithium .

The Texas Spring property adjoins the southern border of the Nevada North Lithium Project – owned by Surge Battery Metals Inc. (‘Surge’) (TSXV: NILI, OTC: NILIF) and comprised of 725 mineral claims. Surge’s first round of drilling identified strongly mineralized lithium bearing clays. The average lithium content within all near surface clay zones intersected in the 2022 drilling program, applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29, 2023 ). More recent results have shown higher grade lithium up to 8070 ppm on this property after initial drilling (Press release September 12, 2023 ). Our exploration results are on-trend with these results.

About Clayton Valley Lithium Project

The Company owns a 100% interest in 113 lithium lode and placer claims covering over 930 hectares in Clayton Valley. Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone. As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-old Long Valley Caldera system and related events. These ash layers are thought to contribute to the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley.

About the Volt Canyon Lithium Property

The Company owns a 100% interest in 80 placer claims covering approximately 635 hectares of alluvial sediments and clays located 122 km northeast of Tonopah, Nevada.

About the British Columbia Copper Project

The Company acquired a 100% interest in 17 mineral claims comprising 27,525 hectares (approximately 275 km 2 ) located in North Central British Columbia, that has conditional approval by the TSX Venture Exchange at the time of this news release. The region is host to numerous operating mines, good infrastructure including experienced exploration and supporting services. Prominent among early discoveries in the Omineca region include the nearby Lustdust/Stardust Copper – Gold deposit; the Kwanika Copper – Gold deposit and the Lorraine Copper deposit (all of which are owned by ( NorthWest Copper Corp. ( TSXV: NWST ) ).

The Company’s claims are also located between Centerra Gold Inc.’s ( TSX: CG, NYSE: CGAU ) prominent Copper/Gold assets, the Kemess North project and the operating Mount Milligan mine, which has produced over 1.8 million ounces of gold and 742 million pounds of copper (Technical Report on the Mount Milligan Mine, November 7, 2022, Borntrager. B, et al.).

On Behalf of the Board of Directors

‘Tim Fernback’

Tim Fernback, President & CEO

Contact Information:

Email: info@gridbatterymetals.com

Phone: 604- 428-5690

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 may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. It should be noted that results from any adjacent property(s) are not an indication of what may be found on the Company’s property(s).

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Forum Announces Drill Results from Qavvik: 296 Metres of Uranium Mineralization; 8.2% U3O8 over 0.5 Metres and Multiple Intercepts Greater than 1%

January 21, 2025 No Comments

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) (‘Forum’ or the ‘Company’) announces drill results for the Qavvik anomaly, its second basement hosted deposit located within Forum’s 100% owned Aberdeen Project. This highly successful program intersected a 296-metre-wide zone of uranium mineralization with grades up to 8.2% U3O8 in a newly identified lense and resulted in more than 20 assays with grades greater than 1% U3O8. Mineralization is open to the northeast and southwest, and the shallow depths along with the thick overall uranium intercepts demonstrates the open pit potential of this deposit. With multiple drill targets on the property, the Aberdeen project has the potential to unfold into a generational uranium district. (Figure 1).

HIGHLIGHTS

QAV24-001 intersected a 296 m wide zone of uranium mineralization consisting of numerous discreet lenses from 36 m to 332 m, and QAV24-002 intersected over 190 m of discreet mineralized lenses from 192 m to 384 m. On the Qavvik Grid, uranium mineralization has been intersected over a 150 metre northeast-southwest trend and is open for extension of the deposit.

The highest mineralization intervals from QAV24-001 are as follows:

1.49% U3O8 over 3.30 m (171.9 – 175.2 m)
- Max. of 8.17% U3O8 over 0.5 m at 172.0 m

1.99% U3O8 over 0.3 m (205.3 – 205.6 m)

0.82% U3O8 over 4.9 m (291.4 – 296.3 m)
- Max. grade of 7.92% U3O8 over 0.1 m at 292.3 m

0.64% U3O8 over 2.7 m (317.1 – 319.8 m)
- Including 1.22% U3O8 over 1.4 m at 318.1 m
- Max. grade of 6.3% U3O8 over 0.2 m at 318.8 m

The highest mineralization intervals from QAV24-002 are as follows:

0.40% U3O8 over 3.5 m from 192.9 to 196.4 m including:
- 1.69% U3O8 over 0.6 m at 195.9 m
- Max. grade of 2.44% U3O8 over 0.2 m at 196.2 m

0.66% U3O8 over 1.7 m from 197.0 to 198.7 m including:
- Max. grade of 3.08% U3O8 over 0.2 m at 197.4 m

Rick Mazur, CEO, commented, ‘These exceptional results from our Qavvik deposit are in line with what we believe to exist in the Thelon Basin – basement and unconformity contact type deposits with the same size potential as the Athabasca Basin. With Tatiggaq only 5 km from Orano’s 127 million pound Kiggavik uranium deposit and Qavvik demonstrating the potential for an economic resource, we believe that we are building a new tier one uranium district. The unconformity style alteration of the Thelon sandstone and basement rocks that has been observed at our Ned, Ayra and Loki drill targets provides even more growth potential for the project.’

Dr. Rebecca Hunter, Forum’s VP, Exploration, stated, ‘Going into 2024, it was our first opportunity as a company to showcase the size and grade potential of the Qavvik deposit. Our objective to drill at a shallower angle in order to intersect multiple lenses was highly successful both in terms of grade and size. The thick intersection in our first drill hole of several hundred metres of uranium mineralization is quite prolific. In addition, the high grades demonstrate tremendous potential for increasing the resource at Qavvik. We are very encouraged by these results and look forward to conducting more infill and expansion drilling at Qavvik.’

QAVVIK DRILL PROGRAM – INFILL AND EXPANSION

The Qavvik anomaly, hosts Forum’s second deposit on the Aberdeen Project. The Aberdeen Project land package consists of approximately 95,000 ha or 950 square kilometres (365 square miles) of mineral claims in the Thelon Basin, located approximately 100 km west of Baker Lake. Qavvik is an 800mx800m gravity low 15 km west of the Tatiggaq deposit, which is adjacent to the 127 million pound Kiggavik project held by Orano/Denison/UEC*. The mineralization is hosted in steep-dipping structures as well as along flat-lying foliation planes within the host rock. The area has been tested by 28 historical holes by Cameco from 2009 to 2012. These holes were largely drilled on 25 to 50 m centres at an orientation of -85 degrees to the southeast. Another nine short holes drilled in the late 70’s, early 80’s by Marline Oil and Anaconda intersected alteration but no uranium.

Forum completed two drill holes into the Qavvik anomaly in 2024 totaling 835 m (Table 1). The objective of QAV24-001 was to drill at a shallower angle in a more optimal direction to crosscut multiple lenses rather than the historical holes that drilled steeply along the mineralized lenses. The objective of QAV24-002 was to intersect and extend the main lower lense intersected in historical drilling. Both these tests were successful and will guide the expansion targeting in 2025. The structural setting of Qavvik is still being interpreted but the main controls on mineralization appear to be east-northeast subsidiary faults, and potentially a northeast fault that transects the area. The mineralization is open throughout the anomaly but in particular, to the northeast and southwest along these fertile east-northeast trending fault zones.

QAV24-001 intersected mineralization over 296 m and the heart of this intercept includes over 0.12% U3O8 over 162.4 m from 170.0 to 332.4 m. Over 20 intercepts with greater than 1% U3O8 were identified in the drill hole and show the grade and size potential of this mineralized area. High-grade intercepts of 8.17% U3O8 over 0.5 m at 172.0 m, 7.92% U3O8 over 0.1 m at 292.3 m and 6.30% U3O8 over 0.2 m at 318.8 m are the highest grade intercepts intersected at Qavvik to date from all the historical drilling. Table 2 outlines the mineralized intercepts intersected in QAV24-001 and QAV24-002. Figure 2 is a plan map showing the 2024 drill holes and the gravity anomaly that is being tested. Figure 3 is a simplified cross section of QAV24-001 showing the extent of mineralization and the main geological units. Figure 4 is a core photograph of the high-grade lense intersected in QAV24-001.

Hole ID	Target	Easting	Northing	Elev.	Depth	Orient.	Comment
QAV24-001	Qavvik	533558	7135661	141	377	-70° / 013°	Mineralized – High Grade
QAV24-002	Qavvik	533561	7135730	140	458	-85° / 054°	Mineralized – High Grade

Table 1 2024 Drill Hole Data for Qavvik Zone drill holes. UTM datum WGS84 Zone 14N.

Hole ID	From_m	To_m	Interval_m	U3O8_%
QAV24-001
Upper Lenses
	44.3	44.7	0.4	0.23
	45.8	46.2	0.4	0.21
	58.4	58.9	0.5	0.49
including	58.7	58.8	0.1	1.22
	119.5	119.7	0.2	0.11
	167.4	167.6	0.2	0.15
Main Interval
	170.0	332.4	162.4	0.12
Subdivided into Lenses
	170.0	170.9	0.9	0.49
including	170.6	170.9	0.3	1.14
	171.9	175.2	3.3	1.49
Max. Grade	172.0	172.5	0.5	8.17
	200.8	202.0	1.2	0.30
	201.9	202.0	0.1	2.30
	202.7	202.8	0.1	1.32
	205.3	207.8	2.5	0.28
including	205.3	205.6	0.3	1.99
	209.3	210.1	0.8	0.14
	219.0	219.1	0.1	0.27
	236.1	238.2	2.1	0.12
	267.9	268.5	0.6	0.15
	278.2	283.3	5.1	0.15
including	281.0	282.8	1.8	0.25
	291.4	296.3	4.9	0.82
including	292.0	294.0	2.0	1.15
including	293.7	294.0	0.3	1.69
including	295.2	295.6	0.4	2.60
Max. Grade	292.3	292.4	0.1	7.92
	298.9	301.4	2.5	0.33
	301.9	305.6	3.7	0.35
including	304.3	304.7	0.4	1.34
	308.2	313.1	4.9	0.24
including	311.1	311.3	0.2	2.96
	314.0	316.6	2.6	0.22
including	314.0	314.1	0.1	2.78
	317.1	319.8	2.7	0.64
including	318.1	319.5	1.4	1.22
Max. Grade	318.8	319.0	0.2	6.30
	322.3	323.0	0.7	0.36
	327.2	327.9	0.7	0.34
	330.8	332.4	1.6	0.29
including	331.4	331.5	0.1	3.59
QAV24-002
	192.9	196.4	3.5	0.40
including	194.9	195.0	0.1	1.70
including	195.9	196.4	0.5	1.69
	197.0	198.7	1.7	0.66
Max. Grade	197.4	197.6	0.2	3.08
	216.6	222.8	6.2	0.10
including	216.6	217.9	1.3	0.20
including	219.3	220.3	1.0	0.17
	239.0	239.4	0.4	0.12
	301.9	302.9	1.0	0.12
	335.4	335.5	0.1	0.14
	337.6	338.0	0.4	0.11

Table 2 U₃O₈assay results for QAV24-001 and QAV24-002 (0.01% cutoff).

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Figure 1 Property map with the locations of the 2024 diamond drilling program on the Aberdeen Project. The drilling reported is within the Qavvik area.

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Figure 2 The location of the 2024 Qavvik drilling on the gravity anomaly, the faint dots are the historical holes drilled by Cameco. The main faults are outlined in the dashed lines and the preliminary outline of the known mineralization is in pink.

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Figure 3 QAV24-001 cross-section showing the main lithologies and the uranium assay intercepts.

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Figure 4 Core photo of the 0.5 m mineralized lense that intersected 8.2% U3O8 at 172.0 to 172.5 m.

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QUALITY ASSURANCE AND QUALITY CONTROL (QA/QC)

Forum implemented a robust QA/QC program for its 2024 drill program, expanding upon the program used in 2023. This sampling program was used in the resampling program as well. The 2024 QA/QC program utilized control samples comprising certified reference materials (CRMs), duplicates, and blank samples. CRMs were used to monitor laboratory accuracy in the analysis of mineralized and non-mineralized samples, duplicate samples were used to monitor analytical precision and repeatability at the preparation and analytical stages, and blank samples were used to monitor for cross contamination during preparation and analytical stages.

Control samples were inserted every 10^th sample, alternating between blank, duplicate, and uranium CRM. Duplicate samples alternated between field, coarse, and pulp duplicates. Three low grade uranium CRMs were alternated between: BL-4a (0.1248% U), DH-1a (0.2629% U), and BL-2a (0.426% U). A high-grade uranium CRM (BL-5; 7.09% U) was inserted into the sample sequence when counts exceeded 10,000 cps. Blanks and duplicates were inserted at a rate of 1-in-20 in non-mineralized holes. For mineralized holes, blanks, duplicates, and uranium CRMs were inserted at a rate of 1-in-30.

In addition to Forum’s QA/QC program, SRC Geoanalytical Laboratories (SRC) conducted an independent QA/QC program, and its laboratory repeats, non-radioactive laboratory standards (BSL18, BSM, BSH, DCB01), and radioactive lab standards (BL2A, BL4A, BL5, and SRCU02) were monitored and tracked by Forum staff.

For the resampling program the original sample intervals were identified from markers that still were present on the core boxes and quarter split samples were obtained from the remaining half split core that remained in the core boxes. The core was weathered and broken down in places due to the strong clay content in much of the mineralized intervals but it did not appear that any core was missing and it was in otherwise good condition.

ASSAYING AND ANALYTICAL PROCEDURES

Composite, Spot, and Assay samples were shipped to the ISO/IEC 17025: 2005 accredited SRC Geoanalytical Laboratories in Saskatoon for sample preparation and analysis.

Non-mineralized systematic and spot samples are dried, crushed, and pulverized for analysis by the ICP-MS Exploration Package for sandstone and basement (codes ICP-MS1 and ICP-MS2 respectively). This analytical package consists of three separate analyses of inductively coupled plasma – mass spectrometry (ICP-MS) and inductively coupled plasma – optical emission spectrometry (ICP-OES) on the partial and total digestions of an aliquot of sample pulp material. Partial digestion is completed via nitric and hydrochloric acids and total digestion is completed via hydrofluoric, nitric, and perchloric acids. The SRC implements several instrumental and analytical quality control procedures for this analytical package. Instrumental checks comprise two calibration checks and two calibration standards. Analytical quality control consists of one blank, two reference materials, and one pulp replicate (duplicate) in each group of 40 samples.

Samples with radioactivity over 500 CPS and indicated as assay samples were analysed using the ICP-MS Exploration Package (ICP-MS), ICP-OES (ICP1), and U₃O₈ Assay (U₃O₈ wt% Assay). The sample preparation procedures for ICP-MS and ICP1 are the same, and the U₃O₈ wt% assay uses an aliquot of sample pulp digested in hydrochloric and nitric acid followed by ICP-OES finish. This method is capable of detecting as low as 0.001 weight percent (wt%) U₃O₈. All Assay samples were also analysed for gold by fire assay using aqua regia with ICP-OES finish.

Boron analysis was conducted on all sample types and is completed by fusing an aliquot of sample pulp in a mixture of Na₂O₂ and NaCO₃, followed by ICP-OES. The SRC inserts a blank, an in-house reference material, and a replicate sample with each batch for analytical quality control and uses a 1000 ppm B commercial certified solution for equipment calibration.

DOWNHOLE RADIOMETRIC PROBING METHOD

Of the 30 holes completed in 2024,18 were successfully radiometrically logged using a 2GHF-1000 Triple Gamma downhole probe sourced from Terraplus in Ontario, Canada. The probe measures natural gamma radiation every 10 cm along the length of the drill hole. The total count NaI, which reports in count per second, may not be directly or uniformly related to uranium grades and are only an indication of the presence of radioactive minerals.

*Source: The Kiggavik deposit is held by Orano (66.2%), Denison (16.9%) and Uranium Energy Corp. (16.9%). Kiggavik mineral resources are 127.3 million pounds Indicated mineral resource grading 0.55% U3O8 and 5.4 million pounds Inferred mineral resource grading 0.33% U3O8 as reported on the Denison Mines Ltd. Corporate Presentation dated November 2024, p. 23 on their website and the Orano 2023 Activities Report converted from tonnes U to pounds U3O8 and from %U to %U3O8. Cut-off grades and other assumptions, parameters and methods used to estimate resources are unknown. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the issuer is not treating the historical estimate as current mineral resources or mineral reserves.

Rebecca Hunter, Ph.D., P.Geo., Forum’s Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.

ABOUT Forum Energy Metals

Forum Energy Metals Corp.(TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. In addition, Forum holds a diversified energy metal portfolio of copper, nickel, and cobalt projects in Saskatchewan and Idaho. For further information: https://www.forumenergymetals.com.

This press release contains forward-looking statements. Forward-Looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Forward-Looking information is subject to known and unknown risks, uncertainties and other factors that may cause Forum’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the historical data, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic conditions or financial markets; changes commodity prices, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining or advancing its exploration projects.

ON BEHALF OF THE BOARD OF DIRECTORS

Richard J. Mazur, P.Geo.
President & CEO

For further information contact:

Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585

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Freegold Intersects 2.72 g/t Au over 139.9 metres at Golden Summit

January 21, 2025 No Comments

GS2425 Significant Mineralization to Depth West of Willow

2.72 g/t Au over 139.9 metres from 401.4 metres
Including 3 metres of 44.7 g/t Au and 2.7 metres grading 59.5 g/t Au

GS2426 – Higher grade within the south-southwest trend

1.93 g/t Au over 105 metres
Including 1.2 metres grading 44.1 g/t Au and 1.4 metres of 65.9 g/t Au

VANCOUVER, BC , Jan. 21, 2025 /CNW/ – Freegold Ventures Limited (TSX: FVL) (OTCQX: FGOVF) (‘Freegold’ or the ‘Company’) is pleased to announce additional assay results from its 2024 drilling program. A total of 41 holes were completed, totalling 25,708 meters. Assays have now been reported for 29 of the 41 holes completed.

Freegold Ventures Limited logo (CNW Group/Freegold Ventures Limited)

The program’s results continue to showcase the strong potential of the Golden Summit Project, highlighted by significant mineralization intercepted across broad areas. 2024 was pivotal, marked by a major resource update in September that increased both the total number of resource ounces and improved the overall resource grade. The 2024 drilling program was strategically designed to expand mineralization to the west, a decision aimed at enhancing the project’s resource base and economic viability. Additionally, the program included drilling specific metallurgical holes to conduct comprehensive metallurgical tests for optimizing the flowsheet design. These results will enable the Company to proceed with economic studies, including trade-off analyses of capital expenditures (CAPEX) and operating expenses (OPEX) in relation to gold recoveries, with the goal of maximizing economic returns.

Western Expansion Zone – West of Willow Creek (WOW Zone)

Twenty-six holes were drilled in the WOW Zone to investigate multiple gold anomalies in soils. The soil anomaly extends 1.5 kilometres west of the existing resource. The current and planned programs aim to increase the overall grade of the resource to enhance future economic returns. This anomaly could expand the project’s resource base and influence its future economic potential. The 2025 program will focus on testing the depth extent of the higher-grade zones discovered during the 2024 program and further exploring the mineralization to the west in the WOW Zone. An updated mineral resource will be completed upon receiving the final assay results from 2024, followed by the initiation of a pre-feasibility study.

Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2423	645.3	-89	0	57	100.9	43.9	0.76
				195.7	270.4	74.7	0.62
				340.5	361.8	21.3	1.63
				391.4	543.8	152.4	0.84
	including			508.1	543.8	35.7	1.47
GS2424	653	-85	67	388.1	412.9	24.8	1.28
				488	503	15	0.80
				551	578	27	0.72

The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization.

Hole GS2423, situated west of Willow Creek , is aligned within the southwest geochemical trend. It has intersected mineralization that not only exceeds resource grade from near the surface but also demonstrates substantial mineralization at depth, with an intersection of 1.47 g/t Au over 35.7 meters at 508.1 meters. In the WOW Zone, the orientation of the mineralization appears to change west of 478400E as such GS2424 has effectively intercepted the downdip extent of the north-dipping mineralization.

Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2425	691.9	-90	0	44.2	81.4	37.2	0.61
				108.8	166.7	57.9	0.80
				194.2	212.4	18.2	1.41
				311.2	340.5	29.3	0.72
				401.4	541.3	139.9	2.72
	including			514.2	541.3	27.1	11.6
	including			514.2	517.2	3	44.7
	including			520.3	523	2.7	59.5
				572.1	585.5	13.4	5.26
	including			572.1	575.2	3.1	18.2
				611.7	647.7	36	0.89

Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number				(m)	(m)	(m)	g/t
GS2426	627	-86	360	117.3	129.6	12.3	0.96
				343.8	359	15.2	1.02
				405	510	105	1.93
	including			481.8	483	1.2	44.1
	including			502.6	504	1.4	65.9
				609	627	18	2.03

The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization

GS2425 was a vertical hole that successfully extended mineralization to depth, intersecting several zones with grades exceeding 1 g/t Au. The most significant intercept was 2.72 g/t Au over 139.9 meters, starting from a depth of 401.4 meters. This included a notable section of 11.6 g/t Au over 27.1 meters, which featured 3 metres of 44.7 g/t Au and another 2.7 metres at 59.5 g/t Au. Additionally, a further zone of 5.26 g/t Au over 13.4 metres was encountered, including 3.1 metres at 18.2 g/t Au. The hole was terminated prematurely, and this zone represents an excellent follow-up opportunity for the 2025 program.

GS2426 was a near vertical at -86 and again demonstrates the potential for higher grade at depth intersecting 1.93 g/t Au over 105 metres from 405 metres, including 44.1 g/t Au over 1.2 metres and 65.9 g/t Au over 1.4 metres. The hole bottomed in 18 metres grading 2.03 g/t Au.

Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2427	690.4	-65	360	228.9	474.6	245.7	1.07
	including			386.2	389.2	3	23.3
				558.7	638.6	79.9	0.95
GS2428	539	-85	83	157.6	188	30.4	0.61
				328.4	340	11.6	1.57
				409.4	419.7	10.3	0.80
				476	531.9	55.9	1.14
GS2429	587	-85	294	433.7	487.7	54	0.85

The width refers to drill hole intercepts; true width cannot be determined due to the uncertain geometry of mineralization

GS2427 was drilled to the north immediately to the west of Willow Creek , where the mineralization continues to dip to the south. It intersected 1.07 g/t Au over 245.7 metres starting from 228.9 metres, including 3 metres of 23.3 g/t Au.

Hole GS2428 was the furthest west hole drilled in 2024. Drilled vertically along the south-southwest trend aligned with the historic Newsboy Mine and along trend of the higher grade Tolovana Zone. The hole again demonstrates the potential for higher grade at depth, intersecting 1.14 g/t Au over 55.9 metres starting from 476 metres. This is the only hole drilled on that section to date, and the up-dip extent remains to be tested. The hole intersected intermittent tonalite intrusive in the upper portion from 47 metres to 147 metres.

GS2429, another near vertical hole drilled on the southwesterly trend, again demonstrates the significant potential for higher grade at depth within the WOW zone. The hole was terminated prematurely, and a follow-up holes will be drilled to test the depth extent of this higher-grade zone in 2025.

Drilling was completed in early December, and assays are from 12 holes are still pending. The results from the 2024 drilling program will be incorporated into an updated mineral resource estimate set to be released later this year as part of Freegold’s efforts to advance the project toward pre-feasibility. Maps showing the locations of drill holes and cross-sections can be found here.

https://freegoldventures.com/site/assets/files/6287/newsrelease_january2025_478450e_section.pdf

https://freegoldventures.com/site/assets/files/6287/newsrelease_january2025_478650e_section.pdf

https://freegoldventures.com/site/assets/files/6287/goldensummit_january2025_plan_map.pdf

In addition to the drill program, Freegold Ventures Limited is conducting comprehensive metallurgical, baseline environmental, cultural resource, and wetland studies. These studies are integral to our exploration efforts, providing a thorough understanding of the project’s potential and ensuring responsible resource development.

A sample quality control/quality assurance program has been in place throughout the program. Drill cores were cut in half using a diamond saw and one-half placed in sealed bags for preparation and subsequent geochemical analysis by ALS Laboratories. Core samples were prepared in ALS’s facility using the PREP-31BY package. Each core sample is crushed to better than 70 %, passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 1kg is taken and pulverized to better than 85 % passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen; a portion of this pulverized split is digested by Four Acid and analyzed via ICP-AES (method code ME-ICP61). Fire Assay analyzes all samples with an AAS finish, using method code Au-AA23 (30g sample size) and over 10 g/t, which are automatically assayed using an FA Grav method, Au-GRAV21. Additional Au screening is performed using ALS’s Au- SCR24 method; select samples are dry-screened to 100 microns. A duplicate 50g fire assay is conducted on the fine fraction, and an assay is conducted on the entire oversize fraction. Total Au content, individual assays, and weight fractions are reported. Analytical and assay procedures are conducted in ALS’s North Vancouver and Reno facilities.

A QA/QC program included laboratory and field standards inserted every ten samples. Blanks are inserted at the start of the submittal, and at least one blank every 25 standards.

The Qualified Person for this release is Alvin Jackson , P.Geo., Vice President of Exploration and Development for Freegold, who has approved the scientific and technical disclosure in this news release.

About Freegold Ventures Limited
Freegold is a TSX-listed company focused on exploration in Alaska . It holds the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood through leases.

Some statements in this news release contain forward-looking information, including, without limitation, statements as to planned expenditures and exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report, and any other future plans. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programs on schedule, and the success of exploration programs. See Freegold’s Annual Information Form for the year ended December 31st, 2023 , filed under Freegold’s profile at www.sedar.com , for a detailed discussion of the risk factors associated with Freegold’s operations. On January 30, 2020 , the World Health Organization declared the COVID-19 outbreak a global health emergency. Reactions to the spread of COVID-19 continue to lead to, among other things, significant restrictions on travel, business closures, quarantines, and a general reduction in economic activity. While these effects have been reduced in recent months, the continuation and re-introduction of significant restrictions, business disruptions, and related financial impact, and the duration of any such disruptions cannot be reasonably estimated. The risks to Freegold of such public health crises also include employee health and safety risks and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak. Such public health crises, as well as global geopolitical crises, can result in volatility and disruptions in the supply and demand for various products and services, global supply chains, and financial markets, as well as declining trade and market sentiment and reduced mobility of people, all of which could affect interest rates, credit ratings, credit risk, and inflation. As a result of the COVID-19 outbreak, Freegold has implemented a COVID management program and established a full-service Camp at Golden Summit to attempt to mitigate risks to its employees, contractors, and community. While the extent to which COVID-19 may impact Freegold is uncertain, it is possible that COVID-19 may have a material adverse effect on Freegold’s business, results of operations, and financial condition.

SOURCE Freegold Ventures Limited

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Trump and FLOTUS Dive into Crypto With Meme Coins

January 21, 2025 No Comments

Days after the release of $ TRUMP, US President Donald Trump’s meme cryptocurrency, his wife First Lady Melania Trump has launched $MELANIA, her own digital token.

The back-to-back launches highlight growing political engagement with the cryptocurrency space, further fueled by Donald Trump’s evolving stance on digital assets.

Melania Trump announced her token, $MELANIA, via social media on Sunday (January 19), stating, “The Official Melania Meme is live! You can buy $MELANIA now.”

$MELANIA is a ‘fungible crypto asset’ created and tracked on the Solana blockchain. As mentioned, it was announced shortly after Donald Trump introduced $TRUMP on Truth Social.

Both coins have garnered significant attention in the cryptocurrency market, with Reuters reporting that $TRUMP achieved a market capitalization of over US$10 billion within days of its launch. Trading volume for the coin reached nearly US$40 billion in 24 hours, showcasing the speculative interest surrounding the asset.

A meme coin is a cryptocurrency derived from internet trends and memes, typically lacking practical utility and prone to significant price volatility. For example, a coin launched last month by Haliey Welch, known as the “Hawk Tuah girl” after her viral video discussing oral sex, experienced a sharp decline in value, dropping 95 percent from a US$500 million market capitalization to US$25 million shortly after its debut.

Traders often liken meme coins to ‘pure gambling’ or ‘purchasing a lottery ticket.’

Trump’s shifting stance on cryptocurrencies

Donald Trump’s entry into the cryptocurrency world marks a dramatic shift from his previous skepticism.

Once dismissing cryptocurrencies as a “scam,” the president has since adopted a more favorable stance.

In fact, his latest presidential campaign became the first in US history to accept cryptocurrency donations, facilitated through Coinbase Commerce. This has helped push cryptocurrencies into the spotlight.

The president has also proposed a US Bitcoin reserve, aiming to position the nation as a leader in digital finance.

Global conversations on Bitcoin reserves

The launch of the Trump coins coincides with a growing global conversation about Bitcoin as a strategic asset.

Governments and central banks, including those in Switzerland, Germany and Brazil, are exploring Bitcoin’s potential role in national reserves. Under Trump’s leadership, the US has joined the debate — ahead of his return to office, his administration has advocated for Bitcoin to be made a reserve asset.

Legislative actions and plans have already materialized to support cryptocurrency reserves for national adoption, with some US states joining the fray as well.

Meanwhile, in Switzerland, the Swiss National Bank is evaluating the inclusion of Bitcoin in its reserves alongside gold, with discussions of a public referendum to decide the matter.

In Germany, former Finance Minister Christian Lindner has proposed that the European Central Bank and Bundesbank reduce reliance on the US dollar by incorporating Bitcoin.

For its part, Brazil has introduced the Sovereign Strategic Bitcoin Reserve (RESBit), aiming to allocate a portion of its reserves to Bitcoin. Meanwhile, Russia has also embraced digital currencies as a means to bypass western sanctions, with companies using domestically mined Bitcoin for international trade.

Experts warn of meme coin volatility

While the launches of $TRUMP and $MELANIA have generated excitement, concerns remain about the speculative nature of meme coins. Analysts warn that such assets are prone to volatility and large price fluctuations.

In addition, the blending of cryptocurrencies into the political arena has raised questions about the implications for governance and regulation. Critics argue that these developments blur the lines between politics, profit and influence, calling for greater oversight.

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

This post appeared first on investingnews.com

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Andrew O’Donnell: Gold, Silver, Energy Transition — Where I’m Putting My Money in 2025

January 21, 2025 No Comments

Andrew O’Donnell, founder of the Market Mindset, discussed the sectors he’s bullish on in 2025, mentioning gold and silver, as well as uranium. He also shared his thoughts on what it will take to bring generalist investors back into the mining sector.

For O’Donnell, cryptocurrency enthusiasm makes it clear that people are willing to put money into high-risk, high-reward sectors — the question is how the resource industry can attract more of this capital.

For the time being, O’Donnell believes it’s important for investors to be selective.

‘I think this year could be a very pivotal year — I’m very optimistic that it will be,’ he said.

‘I don’t think we’ll see the ‘all ships will sail’ kind of idea that we’ve seen in the past from juniors. But there are so many, and so many qualified projects that should be doing so much better than they are, and that should give people some hope.’

Watch the interview above for more of his thoughts on the topics mentioned above.

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

This post appeared first on investingnews.com

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Will Trump Bring Back the Gold Standard?

January 21, 2025 No Comments

The gold standard hasn’t been used in the US since the 1970s, but when Donald Trump was president from 2017 to 2021 there was some speculation that he could bring it back.

Rumors that the gold standard could be reinstated during Trump’s presidency centered largely on positive comments he made about the idea. Notably, he suggested that it would be “wonderful” to bring back the gold standard, and a number of his advisors were of the same mind — Judy Shelton, John Allison and others supported the concept.

Now that Trump is back in the White House, some are again wondering if he will return the country to the gold standard. Speaking on his War Room podcast back in December 2023, Steve Bannon, Trump’s former chief strategist, said he believes the president could ditch the US Federal Reserve and bring back the gold standard in his second term in office.

More recently, the Heritage Foundation included a whole chapter on the Fed written by a former member of Trump’s 2016 transition team in its Project 2025 (a proposed blueprint for Trump’s second term), and suggested a return to the gold standard. While Trump has publicly disavowed Project 2025, its creators say he is privately supportive of the initiative.

Read on to learn what the gold standard is, why it ended, what Trump has said about bringing back the gold standard — and what could happen if a gold-backed currency ever comes into play again.

What is the gold standard?

What is the gold standard and how does it work? Put simply, the gold standard is a monetary system in which the value of a country’s currency is directly linked to the yellow metal. Countries using the gold standard set a fixed price at which to buy and sell gold to determine the value of the nation’s currency.

For example, if the US went back to the gold standard and set the price of gold at US$500 per ounce, the value of the dollar would be 1/500th of an ounce of gold. This would offer reliable price stability.

Under the gold standard, transactions no longer have to be done with heavy gold bullion or gold coins. The gold standard also increases the trust needed for successful global trade — the idea is that paper currency has value that is tied to something real. The goal is to prevent inflation as well as deflation, and to help promote a stable monetary environment.

When was the gold standard introduced?

The gold standard was first introduced in Germany in 1871, and by 1900 most developed nations, including the US, were using it. The system remained popular for decades, with governments worldwide working together to make it successful, but when World War I broke out it became difficult to maintain. Changing political alliances, higher debt and other factors led to a widespread lack of confidence in the gold standard.

What countries are on the gold standard today?

Currently, no countries use the gold standard. Decades ago, governments abandoned the gold standard in favor of fiat monetary systems. However, countries around the world do still hold gold reserves in their central banks. The Fed is the central bank of the US, and as of January 2025 its gold reserves came to 8,133.46 metric tons.

Why was the gold standard abandoned?

The demise of the gold standard began as World War II was ending. At this time, the leading western powers met to develop the Bretton Woods agreement, which became the framework for the global currency markets until 1971.

The Bretton Woods agreement was born at the UN Monetary and Financial Conference, held in Bretton Woods, New Hampshire, in July 1944. Currencies were pegged to the price of gold, and the US dollar was seen as a reserve currency linked to the price of gold. This meant all national currencies were valued in relation to the US dollar since it had become the dominant reserve currency. Despite efforts from governments at the time, the Bretton Woods agreement led to overvaluation of the US dollar, which caused concerns over exchange rates and their ties to the price of gold.

By 1971, US President Richard Nixon had called for a temporary suspension of the dollar’s convertibility. Countries were then free to choose any exchange agreement, except the price of gold. In 1973, foreign governments let currencies float; this put an end to Bretton Woods, and the gold standard was ousted.

What is the US dollar backed by?

Since the 1970s, most countries have run on a system of fiat money, which is government-issued money that is not backed by a commodity. The US dollar is fiat money, which means it is backed by the government, but not by any physical asset.

The value of money is set by supply and demand for paper money, as well as supply and demand for other goods and services in the economy. The prices for those goods and services, including gold and silver, can fluctuate based on market conditions.

What has Trump said about the gold standard?

While it’s perhaps not common knowledge, Trump has long been a fan of gold.

In fact, as Sean Williams of the Motley Fool has pointed out, Trump has been interested in gold since at least the 1970s, when private ownership of gold bullion became legal again. He reportedly invested in gold aggressively at that time, buying the precious metal at about US$185 and selling it between US$780 and US$790.

Since then, Trump has specifically praised the gold standard. In an oft-quoted 2015 GQ interview that covers topics from marijuana to man buns, Trump said, “Bringing back the gold standard would be very hard to do, but boy, would it be wonderful. We’d have a standard on which to base our money.”

In a separate interview that year, he said, “We used to have a very, very solid country because it was based on a gold standard.”

According to Politico’s Danny Vinik, “(Trump has) surrounded himself with a number of advisors who hold extreme, even fringe ideas about monetary policy. … At least six … have spoken favorably about the gold standard.” Shelton and Allison, mentioned above, are not alone. Others include Ben Carson and David Malpass. The last two, Rebekah and Robert Mercer, eventually distanced themselves from Trump, but had a strong influence before that.

Emphasizing how unusual Trump’s support for the international gold standard is, Joseph Gagnon, a senior fellow at the Peterson Institute for International Economics, told the news outlet, “(It) seems like nothing that’s happened since the Great Depression.” Gagnon, who has also worked for the Fed, added, “You have to go back to Herbert Hoover.”

Back in 2017, Politico also quoted libertarian Ron Paul, another gold standard supporter, as saying, “We’re in a better position than we’ve ever been in my lifetime as far as talking about serious changes to the monetary system and talking about gold.”

Would it be feasible for the US to return to the gold standard?

Trump’s first term as president passed without a return to the gold standard, and the consensus seems to be that it’s highly unlikely that this event will come to pass — even with him at the helm once again.

Even many ardent supporters of the system recognize that going back to it could create trouble.

As per the Motley Fool’s Williams, economists largely agree that moving to a lower-key version of the gold standard in 1933 was “a big reason why the US emerged from the Great Depression,” and a return would be a mistake.

But if Trump or a future president did decide to go through with it, what would it take?

According to Kimberly Amadeo at the Balance, due to trade, money supply and the global economy, the rest of the world would need to go back to the gold standard as well. Why? Because otherwise the countries that use the US dollar could stand with their hands out asking for their dollars to be exchanged for gold — including debtors like China and Japan, to which the US owes a large chunk of its multitrillion-dollar national debt.

Is there enough gold to return to the gold standard?

The fact that the US doesn’t have enough gold in its reserves to pay back all its debt poses a huge roadblock to returning to the gold standard. The country would have to exponentially replenish its gold reserves in advance of any return to the gold standard.

‘The United States holds around 261.5 million troy ounces of gold, valued at approximately $489 billion. The total US money supply exceeds $20 trillion, necessitating about 272,430 metric tons of gold at current market prices,’ explained Ron Dewitt, Director of Business Development at the Gold Information Network, in a June 2024 LinkedIn post.

‘The supply remains insufficient, even including global gold stocks, which total around 212,582 metric tons.’

In addition, it’s understood that returning to the gold standard would require the price of gold to be set much higher than it is currently. What would the price of gold need to be worth if the US returned to the gold standard? Financial analyst and investment banker Jim Rickards has calculated the gold price would need to jump up to at least US$27,000 an ounce.

That means the US dollar would be severely devalued, causing inflation, and since global trade uses the US dollar as a reserve currency, it would grind to a halt. Conversely, returning to the gold standard at a low gold price would cause deflation.

What would silver be worth if the US returned to the gold standard? It’s not a guarantee that silver would follow in gold’s footsteps if a gold standard was re-established due to its many industrial and technological applications. While silver has a long history as a precious metal and played an important role as currency for much of human history, its value today is intrinsically linked to that demand as well.

What would happen if the US returned to the gold standard?

Returning to the gold standard would have a huge impact on all levels of the US economy and make it impossible for the Fed to offer fiscal stimulus. After all, if the US had to have enough gold reserves to exchange for dollars on an as-needed basis, the Fed’s ability to print paper currency would be incredibly limited.

Supporters believe that could be the perfect way to get the US out of debt, but it could also cause problems during times of economic crisis. It’s important to remember that because 70 percent of the US economy is based on consumer spending, if inflation rose due to the gold price rising, then a lot of consumers would cut spending.

That would then affect the stock market as well, which could very well lead to a recession or worse without the ability of the government to soften that blow via money supply. ‘Transitioning to a gold standard during an economic crisis would severely limit monetary policy options and could lead to economic instability,’ Dewitt warned.

For that reason, a return to the gold standard would also expose the US economy to the yellow metal’s sometimes dramatic fluctuations — while some think that gold would offer greater price stability, it’s no secret that it’s been volatile in the past. Looking back past the metal’s recent stability, it dropped quite steeply from 2011 to 2016.

Moreover, speaking to Congress on this issue in 2019, Fed Chair Jerome Powell warned against a return to the gold standard.

“You’ve assigned us the job of two direct, real economy objectives: maximum employment, stable prices. If you assigned us (to) stabilize the dollar price of gold, monetary policy could do that, but the other things would fluctuate, and we wouldn’t care,” Powell said. “There have been plenty of times in fairly recent history where the price of gold has sent a signal that would be quite negative for either of those goals.”

As can be seen, returning to the gold standard would be a complex ordeal with pros and cons. The likelihood of the US bringing back the gold standard is slim, but no doubt the question will continue to be up for debate under future presidents.

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

This post appeared first on investingnews.com

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