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Helium Evolution Provides Operations Update

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Helium Evolution Incorporated (TSXV:HEVI) (‘ HEVI ‘ or the ‘ Company ‘), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, announces that its farm-in partner, North American Helium Inc. (‘ NAH ‘), has informed HEVI of its intention to amend one of its previously selected locations from 12-36-3-9W3 to 9-35-3-9W3 (‘ Test Well Area #1 ‘). In addition, HEVI has granted NAH an extension of the original spud date from November 1, 2023 to November 30, 2023 in order to accommodate rig scheduling. NAH is responsible for 100% of the drilling costs for Test Well Area #1, while HEVI retains a 20% working interest in that well.

As announced on September 25, 2023 , HEVI and its partner NAH, successfully drilled and cased the first joint well and encountered helium at 2-31-2-8W3 (‘ Joint Well #1 ‘). The Company is pleased to announce that Joint Well #1 has been completed, and the testing and evaluation phase is underway. HEVI has a 20% working interest in Joint Well #1. Upon conclusion of the testing and evaluation phase, HEVI will provide a further update on the well’s performance.

Upcoming Catalysts:

Further, over the coming weeks the testing and evaluation of Joint Well #1 will continue.

Stay Connected to Helium Evolution

Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company’s website , which includes an updated corporate presentation , and are invited to follow the Company on LinkedIn and Twitter for ongoing corporate updates and helium industry information. Helium Evolution also provides an extensive, commissioned ‘deep-dive’ research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers. In addition to recent media articles , HEVI maintains a profile on the Investing News Network platform, where further information, editorial pieces and industry reviews are available.

About Helium Evolution Incorporated

Helium Evolution is a Canadian-based helium exploration company holding the largest helium land rights position in North America among publicly-traded companies, focused on developing assets in southern Saskatchewan. The Company has over five million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI’s management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market.

For further information, please contact:

Greg Robb, President & CEO
Kristi Kunec, CFO Phone: 1-587-330-2459
Email: info@heliumevolution.ca
Web: https://www.heliumevolution.ca/ Cindy Gray, Investor Relations info@5qir.com | 1-403-705-5076

Statement Regarding Forward-Looking Information

This news release contains statements that constitute ‘forward-looking statements.’ Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘intends,’ ‘estimates,’ ‘projects,’ ‘potential’ and similar expressions, or that events or conditions ‘will,’ ‘would,’ ‘may,’ ‘could’ or ‘should’ occur.

Forward-looking statements in this document include statements regarding the anticipated spud date of Test Well Area #1 and Joint Well #2, the timing of the testing and evaluation of Joint Well #1, timing of future updates regarding the testing and evaluation of Joint Well #1, the Company’s expectations regarding the Company becoming a leading supplier of sustainably-produced helium, the Company’s strong working capital position, the Company’s beliefs regarding growth of the global helium market and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: NAH may be unsuccessful in drilling commercially productive wells; NAH may defer, abandon or accelerate the drilling of Joint Well #2 and/or Test Well Area #1; NAH may defer, abandon or accelerate the testing and evaluation of Joint Well #1; new laws or regulations and/or unforeseen events could adversely affect the Company’s business and results of operations; stock markets have experienced volatility that often has been unrelated to the performance of companies and such volatility may adversely affect the price of the Company’s securities regardless of its operating performance; risks generally associated with the exploration for and production of resources; the uncertainty of estimates and projections relating to expenses and the Company’s working capital position; constraint in the availability of services; commodity price and exchange rate fluctuations; adverse weather or break-up conditions; and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.

When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and risks other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

News Provided by GlobeNewswire via QuoteMedia

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Keith Weiner: Debt Crisis Coming, Watch These Huge Forces Moving Gold

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Keith Weiner is concerned about the level of debt in the US, saying the overarching number of more than US$33 trillion breaks down into an unsustainable burden of US$330,000 for every working person in the country.

‘What cannot be paid will not be paid. This is going to be a horrific crisis — but not today,’ he said.

In his view, investors should look to gold to protect their wealth. ‘Are people going to get richer by holding gold? Perhaps. But they’re going to get poorer by holding dollars, that’s for sure. So that’s really why I think people should be owning gold,’ noted Weiner, who is the founder and CEO of Monetary Metals.

He sees two ‘enormous forces’ influencing gold. One of those is the issue of forced sellers — these are people who don’t want to sell their gold, but have to because of financial stress. The other is strong buying from non-western nations.

‘Gold has been bought massively in certain parts of the world, (and) gold has been liquidated in many places involuntarily. Then you see a gold price that doesn’t seem to want to get out of a range of US$1,900-something (per ounce) to US$2,000-something. But I think we’re not in the bear market of 2012 to 2018,’ Weiner explained.

‘We’re in a bull market. Maybe with volatility and uncertainty and a lot of sideways motion. But I think we’re in a ‘buy the dips’ market, which is not where we were in 2012 to 2018 — that was a ‘sell the blips’ market.’

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

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Uranium Stocks: 5 Biggest Companies

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Uranium is an important energy sector commodity, and its rising value is attracting investor interest.

2023 has seen uranium prices surge to a 15 year high of more than US$80 per pound, and experts are optimistic about the future. With demand set to increase as clean energy gains traction and supply security becomes increasingly important, many market watchers are calling for much higher prices, as well as share price gains for uranium stocks.

With uranium’s bright future in mind, it’s worth looking at the world’s leading uranium miners. The list below lays out the five largest uranium companies by market cap. All data was current as of November 21, 2023.

1. BHP (NYSE:BHP,ASX:BHP,LSE:BHP)

Company Profile

Market cap: US$155.32 billion

BHP’s Olympic Dam mine in Australia is one of the largest uranium deposits in the world. Although copper is the primary resource mined at Olympic Dam, the asset also hosts uranium, gold and silver.

After completing a comprehensive study, the major miner scrapped plans for a brownfields expansion at Olympic Dam in late 2020. Citing the complexity of the copper deposit, BHP instead has opted to focus on ‘targeted debottlenecking investments, plant upgrades and modernization of infrastructure’ at the Australian property.

In the company’s 2023 fiscal year, uranium output from the Olympic Dam totaled 3.4 million metric tons (MT) of uranium oxide concentrate, an increase of 1.03 million MT from the previous year’s production.

Currently, BHP is looking for new opportunities to add to its resource profile. One area of interest for the company is Oak Dam in South Australia, at which high-grade copper, gold, silver and uranium mineralization has been identified. BHP is currently conducting resource definition drilling at the site.

2. Cameco (NYSE:CCJ,TSX:CCO)

Company Profile

Market cap: US$26.47 billion

Cameco’s key operations include a 50 percent stake in Saskatchewan-based Cigar Lake, which is considered the most prolific uranium mine in the world. The company also has a 70 percent stake in the McArthur River mine and an 83 percent interest in the Key Lake mill, both located in the province’s Athabasca Basin, which is a prolific uranium jurisdiction.

While Cameco is a well-known uranium producer, it has faced challenges in recent years. Like many companies, it took a hit during COVID-19, temporarily shutting down production at Cigar Lake in 2020.

Back in 2018, Cameco shuttered McArthur River and Key Lake due to weak uranium prices. The closures reduced Cameco’s uranium supply dramatically from 23.8 million pounds in 2017 to 9.2 million pounds in 2018.

In early 2022, Cameco announced that improving uranium prices had encouraged management to bring the operation back online. The first pounds of uranium ore from the newly reopened McArthur River mine were milled and packaged at the Key Lake mill in November 2022. The company plans to produce 15 million pounds of uranium per year from these operations by 2024, which is 40 percent below its annual licensed capacity.

In the US, Cameco owns the Smith Ranch-Highland operation in Wyoming’s Powder River Basin, as well as the Crow Butte operation in Nebraska; production was curtailed at both as of 2016. Additionally, Cameco has a 40 percent stake in the Inkai mine in Kazakhstan. The other 60 percent is owned by Kazatomprom (LSE:59OT,OTC Pink:NATKY).

Cameco inked a major contract with Ukraine in February that will see the mining giant supply uranium to the country’s nuclear industry through 2035. In October, the company signed a uranium supply agreement with one of China’s largest nuclear power operators, China Nuclear International.

3. NexGen Energy (NYSE:NXE,TSX:NXE,ASX:NXG)

Company Profile

Market cap: US$4.61 billion

Uranium exploration and development company NexGen Energy is focused on projects in Canada’s Athabasca Basin. Its main property is Rook I, which hosts a number of discoveries, including Arrow and South Arrow. NexGen also holds a 51 percent interest in exploration-stage company IsoEnergy (TSXV:ISO,OTCQX:ISENF).

NexGen’s feasibility study for Rook I ‘outlines an initial 11 year mine capable of producing 29 Mlbs U308 per annum (first 5 years), making it the largest and lowest cost uranium mine in the world,” according to the company.

The Saskatchewan government recently gave the green light for the company’s 2023 site infrastructure and confirmation program at Rook I, which will involve a comprehensive field program focused on infrastructure upgrades and confirming engineering data. NexGen signed an impact benefit agreement in June with the Métis Nation-Saskatchewan Northern Region 2 and the Métis Nation-Saskatchewan; it covers all phases of the Rook I project.

The Saskatchewan government approved the project’s environmental assessment, green lighting the development of Rook I. ‘NexGen is the first company in more than 20 years to receive full Provincial Environmental Assessment approval for a uranium project in Saskatchewan,’ states a press release.

4. Uranium Energy (NYSEAMERICAN:UEC)

Press ReleasesCompany Profile

Market cap: US$2.43 billion

Uranium Energy has two production-ready, in-situ recovery (ISR) hub-and-spoke platforms in South Texas and Wyoming that include fully licensed and operational processing capacity at the Hobson and Irigaray plants. The company also has a pipeline of seven US-based ISR uranium projects with all of their major permits in place.

Uranium Energy has made a number of strategic acquisitions recently, including UEX in August 2022 and the development-stage Roughrider uranium project from Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) in October 2022. These were followed by the acquisition of a portfolio of uranium exploration projects in Saskatchewan’s Athabasca Basin from Rio Tinto.

The company began purchasing physical uranium in March 2021, and since then it has amassed one of the largest inventories of US-warehoused physical uranium. In December 2022, Uranium Energy won an award from the US Department of Energy to supply 300,000 pounds of U3O8 at a price of US$59.50 per pound to the strategic uranium reserve.

In 2023, Uranium Energy has made progress in building out its production capabilities. Its production restart at the Christensen Ranch ISR project was completed in July, and the company later finished initial resource expansion drilling at Christensen Ranch as well as Irigaray.

5. Energy Fuels (NYSEAMERICAN:UUUU,TSX:EFR)

Press ReleasesCompany Profile

Market cap: US$1.85 billion

The largest producer of uranium in the US, Energy Fuels provides major nuclear power plants with uranium from its White Mesa mill in Utah, the country’s only conventional uranium mill. The mill has a licensed capacity of over 8 million pounds of U3O8 per year. Aside from White Mesa, the company holds the Nichols Ranch ISR project in Wyoming. Nichols Ranch is currently on standby, and has a licensed capacity of 2 million pounds of U3O8 per year. Outside uranium, Energy Fuels produces rare earths and vanadium.

Energy Fuels has three long-term uranium sales contracts with US nuclear utilities for a total of 3 million pounds, with deliveries to occur between 2023 and 2030. The US Department of Defense awarded the company a strategic uranium reserve contract to sell US$18.5 million worth of uranium concentrate to the US government in December 2022.

Additionally, Energy Fuels has one of the largest S-K 1300 and NI 43-101 compliant uranium resource portfolios in the country. This includes a pipeline of uranium and uranium-vanadium projects that are on standby and in various stages of permitting and development. In 2023, Energy Fuels has made progress in preparing for production restarts at four of its conventional uranium and uranium-vanadium mines. The company expects to begin output at one or more of these mines by early 2024. The mined material will be stockpiled at the White Mesa mill until enough is accumulated to initiate a mill campaign, which is forecast for late 2024 or early 2025.

FAQs for uranium investing

What is uranium?

First discovered in 1789 by German chemist Martin Klaproth, uranium is a heavy metal that is as common in the Earth’s crust as tin, tungsten and molybdenum. Named after the planet Uranus, which was also discovered around the same time, uranium has been an important source of global energy for more than six decades.

What country has the most uranium?

Australia and Kazakhstan lead the world in both terms of uranium reserves and uranium production. Australia takes first prize for the world’s largest uranium reserves, representing 28 percent globally at 1,684,100 MT of U3O8. However, the Oceanic country ranks fourth in global uranium production, putting out 4,087 MT of U3O8 in 2022.

For its part, Kazakhstan controls 13 percent of global uranium reserves and leads the world in uranium production with 2022 output of 21,227 MT. Last year, Canada passed Namibia to become the second largest uranium producer, putting out 7,351 MT of U3O8 in 2022 compared to Namibia’s 5,613 MT. The countries hold 10 percent and 8 percent of global reserves respectively.

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

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How Would a New BRICS Currency Affect the US Dollar?

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The BRICS nations, comprised of Brazil, Russia, India, China and South Africa, are looking to establish a new reserve currency backed by a basket of their respective currencies.

The potential currency, while still under review and development, would allow these nations to assert their economic independence while competing with the existing international financial system. The current system is dominated by the US dollar, which accounts for about 90 percent of all currency trading and nearly 100 percent of oil trading.

Central to this ongoing situation is the US trade war with China, as well as US sanctions on China and Russia. Should the BRICS nations establish a new reserve currency, it would likely significantly impact the US dollar, potentially leading to a decline in demand. In turn, this would have implications for the US and global economies.

Let’s look at the emerging BRICS currency and its potential implications for investors.

Why do the BRICS nations want to create a new currency?

The BRICS nations have a slew of reasons for wanting to set up a new currency. Recent global financial challenges and aggressive US foreign policies have prompted the BRICS countries to explore the possibility. They want to better serve their own economic interests while reducing global dependence on the US dollar and the euro.

What progress has been made? During the 14th BRICS Summit, held in mid-2022, Russian President Vladimir Putin said the BRICS countries plan to issue a ‘new global reserve currency,’ and are ready to work openly with all fair partners.

In April, Brazilian President Luiz Inacio Lula da Silva showed support for a BRICS currency, commenting, “Why can’t an institution like the BRICS bank have a currency to finance trade relations between Brazil and China, between Brazil and all the other BRICS countries? Who decided that the dollar was the (trade) currency after the end of gold parity?”

More recently, in the lead up to the 2023 BRICS Summit in August, there was speculation that an announcement of such a currency could be on the table. This proved to be wishful thinking, however.

‘The development of anything alternative is more a medium to long term ambition. There is no suggestion right now to creates a BRICS currency,’ Maasdorp told Bloomberg.

In July, South Africa’s BRICS ambassador, Anil Sooklal, said as many as 40 countries have expressed interest in joining BRICS. The following month, at the August summit, six countries were invited to become BRICS members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates. They will officially join the alliance on January 1, 2024.

Some experts believe that a BRICS currency is a flawed idea, as it would unite countries with very different economies. There are also concerns that non-Chinese members might increase their dependence on China’s yuan instead. That said, when Russia demanded in October that India pay for oil in yuan, India refused to use anything other than the US dollar or rupees. Russia is struggling to use its excess supply of rupees.

What would the advantages of a BRICS currency be?

A new currency could have several benefits for the BRICS countries, including more efficient cross-border transactions and increased financial inclusion. By leveraging blockchain technology, digital currencies and smart contracts, the currency could revolutionize the global financial system. Thanks to seamless cross-border payments, it could also promote trade and economic integration among the BRICS nations and beyond.

A new BRICS currency would also:

Strengthen economic integration within the BRICS countries.Reduce the influence of the US on the global stage.Weaken the standing of the US dollar as a global reserve currency.Encourage other countries to form alliances to develop regional currencies.Mitigate risks associated with global volatility due to unilateral measures and the diminution of dollar dependence.

How would a new BRICS currency affect the US dollar?

For decades, the US dollar has enjoyed unparalleled dominance as the world’s leading reserve currency. According to the US Federal Reserve, between 1999 and 2019, the dollar was used in 96 percent of international trade invoicing in the Americas, 74 percent in the Asia-Pacific region and 79 percent in the rest of the world.

In April 2022, the US dollar was used in 88 percent of currency exchanges. Additionally, the dollar is used for nearly 100 percent of oil trades and it was just under 60 percent of all foreign currency reserves held by central banks in the first half of 2023. And due to its status as the most widely used currency for conversion and its use as a benchmark in the forex market, almost all central banks worldwide hold dollars.

Although the dollar’s reserve currency share has decreased as the euro and yuan have gained popularity, the dollar is still the most widely used reserve currency, followed by the euro, the yen, the pound and the yuan.

The potential impact of a new BRICS currency on the US dollar remains uncertain, with experts debating its potential to challenge the dollar’s dominance. However, if a new BRICS currency was to stabilize against the dollar, it could weaken the power of US sanctions, leading to a further decline in the dollar’s value. It could also cause an economic crisis affecting American households. Aside from that, this new currency could accelerate the trend toward de-dollarization.

Nations worldwide are seeking alternatives to the US dollar, with examples being China and Russia trading in their own currencies, and countries like India, Kenya and Malaysia advocating for de-dollarization or signing agreements with other nations to trade in local currencies or alternative benchmarks.

While it is unclear whether a new BRICS currency would inspire the creation of other US dollar alternatives, the possibility of challenging the dollar’s dominance as a reserve currency remains. And as countries continue to diversify their reserve holdings, the US dollar could face increasing competition from emerging currencies, potentially altering the balance of power in global markets.

Ultimately, the impact of a new BRICS currency on the US dollar will depend on its adoption, its perceived stability and the extent to which it can offer a viable alternative to the dollar’s longstanding hegemony.

How would a BRICS currency impact the economy?

A potential shift toward a new BRICS currency could have significant implications for the North American economy and investors operating within it. Some of the most affected sectors and industries include:

Oil and gasBanking and financeCommoditiesInternational tradeTechnologyTourism and travelThe foreign exchange market

A new BRICS currency would also introduce new trading pairs, alter currency correlations and affect market volatility, requiring investors to adapt their strategies accordingly.

How can investors prepare for a new BRICS currency?

Adjusting a portfolio in response to emerging BRICS currency trends may be a challenge for investors. However, several strategies can be adopted to capitalize on these trends.

Diversify currency exposure by investing in assets denominated in currencies other than the US dollar, such as bonds, mutual funds or exchange-traded funds (ETFs).Invest in commodities like gold and silver as a hedge against currency risk.Gain exposure to BRICS equity markets through stocks and ETFs that track BRICS market indexes.Consider alternative investments such as real estate or private equity in the BRICS countries.

Prudent investors will also weigh these strategies against their exposure to market, political and currency fluctuations.

In terms of investment vehicles, investors could consider ETFs such as the iShares MSCI BIC ETF (ARCA:BKF) or the Global X MSCI China Financials ETF (ARCA:CHIX). They could also invest in mutual funds such as the T. Rowe Price Emerging Markets Equity Fund, or in individual companies within the BRICS countries.

Simply put, preparing for a new BRICS currency or potential de-dollarization requires careful research and due diligence by investors. Diversifying currency exposure, and investing in commodities, equity markets or alternative investments are possible options to consider while being mindful of the associated risks.

Investor takeaway

While it is not certain whether the creation of a BRICS reserve currency will come to pass, its emergence would pose significant implications for the global economy and potentially challenge the US dollar’s dominance as the primary reserve currency. This development would present unique investment opportunities, while introducing risks to existing investments as the shifting landscape alters monetary policy and exacerbates geopolitical tensions.

For those reasons, investors should closely monitor the progress of a possible BRICS currency. And, if the bloc does eventually create one, it will be important watch the currency’s impact on BRICS member economies and the broader global market. Staying vigilant will help investors to capitalize on growth prospects and hedge against potential risks.

FAQs for a new BRICS currency

Is a BRICS currency possible?

Some financial analysts point to the creation of the euro in 1999 as proof that a BRICS currency may be possible. However, this would require years of preparation, the establishment of a new central bank and an agreement between the five nations to phase out their own sovereign currencies; it would most likely also need the support of the International Monetary Fund to be successful internationally.

The impact of its war on Ukraine will continue to weaken Russia’s economy and the value of the ruble, and China is intent on raising the power of the yuan internationally. There is also a wide chasm of economic disparity between China and other BRICS nations. These are no small obstacles to overcome.

Would a new BRICS currency be backed by gold?

While Russian President Vladimir Putin has suggested hard assets such as gold or oil, a new BRICS currency would likely be backed by a basket of the five-nation bloc’s currencies.

That said, speaking at this year’s New Orleans Investment Conference, well-known author Jim Rickards gave a detailed talk on how a gold-backed BRICS currency could work. He suggested that if a BRICS currency unit is worth 1 ounce of gold and the gold price goes to US$3,000 per ounce, the BRICS currency unit would be worth US$3,000, while the dollar would lose value compared to the BRICS currency as measured by the weight of gold.

Importantly though, he doesn’t see this as a new gold standard, or the end of the US dollar or the euro.

“(With) a real gold standard, you can take the currency and go to any one of the central banks and get some gold,” Rickards said at the event. “With BRICS they don’t have to own any gold, they don’t have to buy any gold, they don’t have to prop up the price. They can just rise on the dollar gold market.

How much gold do the BRICS nations have?

As of Q2 2023, the combined central bank gold holdings of the BRICS nations accounted for more than 15 percent of all the gold held in the world’s central banks. Russia, India and China rank in the top 10 for central bank gold holdings.

Russia controls 2,329.63 metric tons (MT) of the yellow metal, making it the fifth largest for central bank gold reserves. China follows in the sixth spot with 2,113.46 MT of gold and India places ninth with 797.44 MT. Brazil and South Africa’s central bank gold holdings are much smaller, coming in at 129.65 MT and 125.41 MT, respectively.

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

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NextSource Materials

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Overview

NextSource Materials: Molo Graphite Mine now in Production with Downstream Battery Anode Facility Not Far Behind

Vision Blue Resources Ltd, a battery commodity/resource-focused investment company founded by Sir Mick Davis (former CEO of Xstrata Plc), made a significant strategic investment in NextSource Materials in 2021 to fully fund the construction of its Molo graphite mine in Madagascar. Production has begun, with Phase 1 mine operations currently undergoing ramp up to reach its nameplate production capacity of 17,000 tpa of graphite concentrate.

According to UK’s Benchmark Minerals Intelligence, battery demand for flake graphite is expected to grow between 5-7 fold by 2035. This dramatic spike in demand is due to graphite’s critical role as the anode material in lithium-ion batteries. Electric vehicle batteries contain between 60 to 90 kilograms of graphite per battery. By volume, graphite is the largest raw material in a lithium-ion battery. As the electric vehicle market continues to grow, investing in the companies that produce these valuable battery materials and have first-mover advantage can provide significant value-creation and exposure to this expanding market.

NextSource Materials Inc. is a battery materials development company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.

The Company’s Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite.

The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, outside of existing Asian supply chains, in a fully transparent and traceable manner.

Graphite in Madagascar is renowned for its quality and flake size. For almost a century, Madagascar has been exporting flake graphite to the world but in limited quantities. Molo will catapult Madagascar to a top 5 graphite producing country. With its Green Giant vanadium project also within close proximity to the Molo project, NextSource Materials controls two very strategic sources of battery materials at one source.

For further information about NextSource visit our website at www.nextsourcematerials.com or contact us a +1.416.364.4911 or email Brent Nykoliation, Executive Vice President, Corporate Development at brent@nextsourcematerials.com or email Craig Scherba, President and CEO at craig@nextsourcematerials.com.

NextSource’s 100 percent owned and fully permitted Molo graphite project drew investor attention for its large, high-quality flake graphite deposit and unique SuperFlake graphite concentrate. Sir Mick Davis’s strategic investment of US$29.5 million in NextSource in May 2021 provided the entire funding to bring the Molo Graphite mine into production.

“This investment in NextSource underlines our belief that the massive secular change in demand for critical battery material resources is not being met by an appropriate supply-side response, largely as a result of capital constraints,” Davis stated.

The company utilized an all-modular build approach to construct the Molo mine. Phase one production will be approximately 17,000 tonnes per annum over the first two years with a phase two expansion of 150,000 additional tonnes in year three.

The company made its first bulk container shipment of SuperFlake® graphite to the downstream technical partner’s battery anode facility to be processed into spheronized, purified graphite (SPG) that will then be further processed into coated SPG (CSPG) as part of large scale, multi-step verification tests being conducted by automotive EV supply chains in South Korea and Japan. The first series of verification test results will start in December 2023.

In April 2021, the company finalized an exclusive partnership with a well-established and leading company that processes SPG for leading Japanese anode and battery makers, who in turn supply the Tesla and Toyota supply chains. The company has also executed a commercial offtake agreement with thyssenkrupp Materials Trading GmbH, an international trading and services company headquartered in Essen, Germany, for the sale of 35,000 tpa of the SuperFlake® graphite products.

NextSource’s other highly prospective project, the Green Giant vanadium project in Madagascar, stands out for its sediment-hosted deposit profile, which is only seen in approximately 5 percent of total vanadium occurrences.

The company believes strongly in vanadium’s potential market growth with the popularization of VRBs as a leading technology for green energy applications. Since project acquisition in 2007, NextSource has spent over US$20 million on the exploration and development of the Green Giant.

NextSource’s management team and directors bring decades of professional mine development and capital markets expertise. NextSource has assembled an impressive team with a proven track record in mine operations and building shareholder value. This positions the company for significant growth and economic success as it strives to meet the world’s increasing demand for graphite.

Company Highlights

The Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production, with Phase 1 mine operations currently undergoing ramp up to reach its nameplate production capacity of 17,000 tpa of graphite concentrate.Vision Blue Resources, a fund headed up by Sir Mick Davis, invests in strategic battery materials and is NextSource’s largest shareholder.Sir Mick Davis is NextSource’s chairman and this mining heavyweight brings years of valuable experience in mine development and financing expertise.NextSource is the only graphite company to have secured two long term offtakes with tier one partners. The first is for the sale of 20,000 tonnes per annum with a prominent Japanese trader that supplies the Tesla and Toyota battery supply chains, and the second is with thyssenkrupp Materials Trading for the sale of 35,000 tonnes per annum of SuperFlake® graphite concentrate.The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities (BAFs). These BAFs will be capable of large-scale production of spherical, purified graphite (SPG) and coated SPG (CSPG) using established processing expertise for direct delivery to battery and automotive customers, outside of existing Asian supply chains, in a fully transparent and traceable manner. Construction of its Phase 1 BAF in Mauritius is expected to commence in January 2024 with commissioning in Q1 2025. The first BAF will be built in Mauritius and the Company has secured funding to begin construction in Q1 2024The Company also owns the Green Giant vanadium project, an advanced stage resource that is one of the world’s largest known vanadium deposits. The sediment-hosted geophysical profile of this vanadium deposit is well-suited for vanadium redox batteries, which are a leading battery technology for large scale energy storage applications.NextSource Materials is listed on the Toronto Stock Exchange (TSX) under the symbol “NEXT” and on the OTCQB under the symbol “NSRCF’.

Key Projects

Molo Graphite Project

The Molo graphite project is a wholly owned feasibility-stage asset that ranks as one of the largest-known and highest-quality flake graphite deposits in the world. The property is over 62.5 hectares, sits in the Tulear region of Southwestern Madagascar and is located 11.5 kilometers east of the town of Fotadrevo.

Total combined graphite resources are measured at 141.28 million tonnes at 6.13 percent total graphitic carbon, with a contained ore reserve of 22.44 million tonnes at 7.02 percent graphitic carbon. The company has delineated over 300 line kilometers of continuous graphite mineralization at surface. NextSource has virtually an unlimited supply of graphite it can bring to the market in lockstep with demand.

NextSource has superior flake size distribution and well above the global average. The Molo asset is relatively unique for having almost 50 percent premium-priced large and jumbo flake graphite and can achieve up to 98 percent carbon purity with simple flotation alone. Molo SuperFlake® has been verified by end-users and meets or exceeds all criteria for the top demand markets for flake graphite; anode material for lithium-ion batteries, refractories, graphite foils and graphene inks.

NextSource has completed a series of feasibility studies on the project since 2015, with an updated feasibility study for phase two mine expansion expected in Q4 2023.

For all details and assumptions relating to the parameters of the mineral resource, reserve estimates, and data verification procedures for phase one of the Molo Project, please see “Molo Feasibility Study, National Instrument 43-101 Technical Report on the Molo Graphite Project located near the village of Fotadrevo in the Province of Toliara, Madagascar Prepared by Erudite Strategies (Pty) Ltd” dated May 31, 2019.

Green Giant Vanadium Project

The 100-percent-owned Green Giant vanadium project is an advanced-stage exploration project located in South-central Madagascar and is one of the world’s largest known vanadium deposits. The project leverages good mining conditions and convenient proximity to NextSource’s flagship Molo graphite project.

The Green Giant Project is a rare type of vanadium deposit because it is sediment-hosted. No magnetic metals are associated with Green Giant’s vanadium, making the project ideal for producing high-purity vanadium pentoxide, a key material in vanadium redox batteries.

The property’s NI 43-101 compliant resource measures an estimated 60 million tonnes of vanadium pentoxide at an average grade of almost 0.7 percent at a 0.5 percent cut-off.

Since 2008, Green Giant has seen extensive diamond drilling campaigns, soil sampling, airborne and ground geophysics and EM surveying. NextSource intends to continue developing the property’s three main zones, which are referred to as the Jaky, Manga and Mainty deposits.

Management Team

Brent Nykoliation — Executive Vice-president

Brent Nykoliation joined the senior management team at NextSource Materials as vice president, corporate development. In 2007, he oversaw all communication with analysts, institutional investors and strategic offtake partners for the company. He brings over 20 years of management experience, having held senior marketing and strategic development positions with several Fortune 500 corporations in Canada, notably Nestlé, Home Depot and Whirlpool. Nykoliation holds a Bachelor of Commerce with Honours degree from Queen’s University.

Marc Johnson — Chief Financial Officer

Marc Johnson is a bilingual senior executive with over 20 years of business experience, including ten years at public corporations as CFO, VP of corporate development and other financial management positions, and ten years in capital markets in investment banking and equity research. Johnson is a chartered financial analyst and a chartered professional accountant and joined as CFO in October 2015. He also holds a bachelor of commerce (finance) from the John Molson School of Business at Concordia University in Montreal.

Danniel Stokes – VP, Special Projects

Daniel Stokes joined NextSource in 2022. During his career, he has been responsible for providing project management support across a diverse portfolio of projects in mining, infrastructure, and nuclear industries; developing tools, implementing best practices and mentoring apprentices. Stokes holds degrees in engineering and business and has a qualification in project management from the Association for Project Management.

Markus Reichardt – VP, Sustainability

Markus Reichardt brings a practical understanding of integrating ESG into all stages of the project cycle based on a 25-year track record in operational, senior corporate and advisory roles in the resources, agricultural and renewables sectors across the developing world. Reichardt will be based in the UK and is responsible for driving the Group’s safety, health, environment, social, climate change and quality performance and initiatives.. Reichardt is a former corporate environmental manager of AngloGold and holds degrees in history and restoration ecology.

Wilhelm Reitz – General Manager, Molo Mine

Wilhelm Reitz is a mine management professional with 28 years of experience in the global mining sector, with the last 11 years focussed on critical minerals and in developing technologies through design, engineering, and research on graphite. Reitz held senior management roles with AfriGold in Senegal and West African Diamonds in Sierra Leone and Guinea. Prior to joining NextSource, he was involved in developing and managing graphite mines in Madagascar for Stratmin Global and Greenwing Resources. Reitz holds a BSB Diploma in Leadership and Management and studied with AIM in Australia, faculty of management.

Lydia Boarlaza – Country Manager, NextSource Materials

Lydia Boarlaza joined NextSource as Country Manager in January 2021 and has had extensive management experience in the Madagascar mining sector over her career. She has served in general manager and resident manager roles for various companies including Madagascar Consolidated Mining S.A., Madagascar Oil S.A., Avana Group, Hunt Oil Madagascar, and Shell Exploration & Development Madagascar BV. She is a member of the board of directors of Madagascar Chamber of Mines, member of the National Committee within the EITI Madagascar, and member of the Women in Mining and Resources Association in Madagascar.

Board of Directors

Sir Mick Davis — Chairman

Sir Mick Davis is the CEO of Vision Blue Resources and a highly successful mining executive accredited with building Xstrata plc into one of the largest mining companies in the world before its acquisition by Glencore plc. Before listing Xstrata on the LSE as CEO he was CFO of Billiton plc and Chairman of Billiton Coal which he joined from the position of Eskom CFO. During his career in mining, he has raised over US$40bn from global capital markets and successfully completed over US$120bn of corporate transactions, including the creation of the Ingwe Coal Corporation in South Africa; the listing of Billiton on the LSE; the merger of BHP and Billiton; as well as numerous transactions at Xstrata culminating in the sale to Glencore plc. Sir Mick Davis is a chartered accountant by profession and holds an honours degree in commerce from Rhodes University, South Africa and an honorary doctorate from Bar Ilan University, Israel.

Ian Pearce – Director

Ian Pearce is the former CEO of Xstrata Nickel, and was the former COO of Falconbridge Limited, which was acquired by Xstrata Plc in 2006. Xstrata Plc’s acquisition of Falconbridge was one of the largest mining takeovers globally and one of the largest takeover bids in Canadian history. Pearce was also a founding partner of X2 Resources who, along with Sir Mick Davis, made up the team of six ex-Xstrata executives who formed the mid-tier diversified mining and metals company. He currently serves as a director for several global companies in the mining and metals, energy, and sustainability industries. Pearce previously served as chair of the Mining Association of Canada and chair of the Nickel Institute. He holds a BSc from the University of the Witwatersrand, South Africa and an HNDT in Mineral Processing from the University of Johannesburg, South Africa.

Craig Scherba — Director, President & Chief Executive Officer

Craig Scherba was appointed president and CEO in September 2012 and has been a director since January 2010. Previously, Scherba served as vice president of exploration of the company, since January 2010. Scherba was a managing partner for six years with Taiga Consultants, a mining exploration consulting company. He has been a professional geologist since 2000, and his expertise includes supervising large Canadian and international exploration programs. Scherba was an integral member of the exploration team that developed Nevsun Resources’ high-grade gold, copper and zinc Bisha project in Eritrea. He served as the company’s country and exploration manager in Madagascar during its initial exploration stage, discovering both the Molo Graphite and the Green Giant Vanadium deposits.

Robin Borley — Chief Operating Officer and Director

Robin Borley is a Graduate mining engineering professional and a certified mine manager with more than 25 years of international mining experience building and operating mining ventures. He has held senior management positions both Internationally and within the South African mining industry. He has most recently served as mining director for DRA Mineral Projects and was instrumental as the COO of Red Island Minerals in developing a Madagascar coal venture.

His diverse career has spanned resource project management, evaluation, exploration and mine development. Robin has completed several mine evaluations, including operational and financial assessments of new and existing operations across various resource sectors. He has experience in managing underground and surface mining operations from both the contractor and owner-miner environments.

Brett Whalen — Director

Brett Whalen has over 20 years of investment banking and M&A expertise, spending over 16 of those years at Dundee Corporation. During his tenure at Dundee, Whalen was directly involved in completing approximately $2 billion in M&A deals and helped raise over $10 billion in capital for resource sector companies. While a vice president and portfolio manager of Goodman & Co., he oversaw the investment of $6 million into NextSource, enabling the company to achieve key technical milestones, notably the completion of its July 2017 Phase One Feasibility Study and the concept and design of the whole modular build approach NextSource will be utilized for construction of both Phase One and Phase Two of the Molo mine. Whalen has extensive knowledge of both graphite and vanadium and the general battery materials industry.

Whalen has held Board seats of several TSX-listed and privately held companies and holds a BA (Honours) degree in Economics and Finance from Wilfrid Laurier University.

Christopher Kruba — Director

Christopher Kruba is vice-president and legal counsel to Nostrum Capital Corporation and several related corporations that are part of the Toldo Group. The Toldo Group is headquartered in Windsor, Ontario and is composed of several privately held corporations in Canada and the United States, some of which have large manufacturing operations in diversified sectors and others that are involved in active and passive investments across capital markets throughout North America, Europe and Africa. In addition to his responsibilities as counsel to the Toldo Group, Kruba serves as corporate secretary to all the companies, is a member of the group’s investment committee and serves on the board of directors of many of the companies.

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Popeyes is adding wings to its menu permanently

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Popeyes is expanding its menu beyond chicken sandwiches — and it’s a permanent change this time.

The fast-food chain announced Wednesday it’s adding five chicken wing flavors to its menu nationwide, with three debuting at Popeyes for the first time, beginning Wednesday. The flavors include Honey BBQ, Roasted Garlic Parmesan, Signature Hot, Ghost Pepper and Sweet ’N Spicy.

“At Popeyes, we like to challenge the status quo and are consistently redefining what’s expected from fast food brands,” said Sami Siddiqui, president of Popeyes North America, in a statement. “We know our guests want even more bold Louisiana-inspired wing flavors to choose from and are excited to see our new wings line-up take flight.”

Siddiqui added that the Ghost Pepper wings were an “overnight success” when tested at locations earlier this year, and the Sweet ’N Spicy wings have been the chain’s best-performing product since its chicken sandwich.

Popeyes said it has been working on perfecting the wings recipes for three years. The new wings will be available starting at $5.99 for a six-piece.

Last month, Popeyes overtook KFC to secure its spot as the No. 2 chicken chain in the U.S., behind Chick-fil-A.

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True North Copper Limited (ASX: TNC) – Trading Halt

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Description

The securities of True North Copper Limited (‘TNC’) will be placed in trading halt at the request of TNC, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Friday, 17 November 2023 or when the announcement is released to the market.

Issued by

Angel He
Senior Adviser, Listings Compliance

Click here for the full ASX Release

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North Shore Uranium

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Overview

North Shore Uranium (TSXV:NSU) is a Canadian exploration company focused on discovering economic uranium deposits at the eastern margin of Saskatchewan’s world class Athabasca Basin in Canada.

North Shore has two highly prospective exploration properties totaling 60,210 hectares – Falcon and West Bear – which are located in close proximity to two globally significant active uranium mines, Cigar Lake and McArthur River, that produce 100 percent of Canada’s uranium.

The ongoing geopolitical events coupled with the global net-zero goal have created transformative tailwinds for the nuclear power industry, from both a demand and supply perspective. Nuclear power is critical for meeting CO2 emission reduction goals set by the Paris Agreement. There is increasing recognition that nuclear power, with its clean emissions profile, and reliable and secure base load characteristics has a key role to play in achieving decarbonization goals. This is evident in the recently released World Energy Outlook 2023 published by the International Energy Agency (IEA) which highlighted the role that nuclear energy can play in making the journey towards net-zero faster, more secure and more affordable.

According to the World Nuclear Association, there are currently 440 reactors operating globally. This capacity is increasing steadily with about 60 reactors under construction (in 17 countries) and a further 112 reactors planned and 318 reactors proposed. Governments across the world, including North America, Asia and Europe, are backing an expansion of nuclear energy. This should drive demand for uranium over the coming decades.

According to the World Nuclear Fuel Report issued by the World Nuclear Association, the demand for fuel for nuclear reactors is projected at 65,650 tons in 2023, further increasing by 28 percent to 83,840 tons in 2030, and then nearly doubling to 130,000 tons by 2040. On the supply side, the situation remains challenging particularly due to the Russia-Ukraine conflict. Global supplies remain constrained mainly due to years of under-investment in new production, monopoly of state-owned entities, transportation risks and geopolitical uncertainties. For 2023, UxC, a leading market research firm, projects a 52-million-pound (Mlbs) deficit with global demand at 195 Mlbs and supply at 143 Mlbs. The deficit is expected to further jump to 113 Mlbs by 2025.

As a result, spot uranium prices have seen a big jump. Now at over US$80/lb, it is the highest it’s been since 2008. The prices are likely to remain firm given that the uranium supply/demand balance remains tight. As noted above, it is likely to get tighter in the next 24 months as demand continues to rise, while new supply remains limited, and inventories/stockpiles keep getting drawn down. Further exacerbating the supply is the fact that more than 50 percent of global uranium production comes from countries with significant geopolitical risk.

This is where companies such as North Shore Uranium, with a presence in geopolitically stable jurisdictions such as the Athabasca Basin, stand out. North Shore offers investors an opportunity to participate in the uranium upswing and profit from higher prices.

Key Projects

North Shore holds interests in two highly prospective uranium properties at the eastern margin of Saskatchewan’s Athabasca Basin, Falcon and West Bear.

Falcon Property

This project comprises 15 claims totaling 55,699 hectares located along the Wollaston trend in an emerging uranium district that has been seeing a surge in exploration activity. It is located just west of Skyharbour Resource’s and Tisdale Clean Energy’s Fraser Lakes B Zone uranium resource and along the trend of two new discoveries made by Baselode Energy and 92 Energy, ACKIO and GMZ respectively. An added advantage is the presence of the Key Lake uranium mill 30 kilometers east of the Falcon property and all-weather roads 40 kilometers to the east and 50 kilometers west. In addition, the power line that feeds the Key Lake Mill runs right through the property.

Of the total 15 claims, North Shore has 100 percent ownership of four claims totaling 12,791 hectares. It has the option to earn an 80 percent interest in the remaining 11 claims totaling 42,908 hectares over three years from Skyharbour Resources for $5.3 million in total consideration, with $3.55 million of that being in exploration expenditures. Further, the company has an option to acquire the remaining 20 percent interest for $5 million cash and $5 million in stock.

The Falcon property is an early-stage, highly prospective exploration project with a limited exploration history in an area that is seeing increased exploration activity and recent discoveries. Some exploration occurred in the late 1970s and early 1980s, which included airborne surveys, prospecting programs and limited drilling. Additional modern airborne electromagnetic (“EM”) and magnetic surveys were conducted in the 2000’s. In 2022, on the back of exciting new discoveries nearby, high-resolution airborne gravity-magnetic radiometric surveys covering over 80 percent of the property were conducted by North Shore and Skyharbour.

In 2008, JNR Resources drilled 28 holes associated with EM conductors in three zones on three claims in the center of the property. Drilling associated with the EWA showing, a shear zone at surface where samples yielded up to 0.492 percent U3O8 and 1,300 ppm lead were collected, returned samples with elevated uranium values up to 0.235 percent U3O8. Subsequent to this drilling, additional EM conductors that have not been tested have been identified through further exploration work.

Multiple NE-SW-trending EM conductor systems that have yet to be tested have been identified on the Falcon property with interpretation complemented by new geophysical data that JNR Resources did not have access to. North Shore is working with all the available geophysical and geological data to prioritize areas of the EM conductor zones for drilling in Q1 2024 and beyond. Brooke Clements, North Shore’s President and CEO stated “There has been limited exploration work at Falcon since a 2008 drill program that focused on a small portion of the property. There are a number of high-quality well-defined EM conductors that have yet to be tested. Using new data and interpretation, and examples from new discoveries on the eastern margin of the Basin, North Shore aims to test multiple targets in the coming years in this highly prospective area, starting in Q1 2024. A significant new uranium discovery could be one drill hole away.”

West Bear Property

The West Bear property is located at the eastern margin of the Athabasca Basin. It comprises five mineral claims covering 4,511 hectares. It is located approximately 35 kilometers southeast of the Cameco Cigar Lake uranium mine, the world’s second-largest and highest grade uranium mine. The main West Bear claim block is just south of a uranium reserve with 1.4 M lbs. U3O8 and a coincident Co-Ni resource both held by Uranium Energy Corporation. Additionally, the presence of nearby infrastructure, including the McClean Lake uranium mill and an all-weather road ten kilometers east, is a positive for the West Bear project. The mineralization on the adjacent property illustrates the potential for mineralization on the West Bear property.

North Shore has an option to acquire 75 percent of the West Bear property from Gem Oil Inc. under the following terms over three years ending on April 11, 2025: $225,000 cash (of which $125,000 has been paid); $75,000 cash or common shares ($25,000 paid); and $271,000 in exploration expenditure ($225,000 already spent). Further, it has the option to acquire the remaining 25 percent interest for $200,000 cash and $200,000 in stock.

The property has seen limited historic drilling with 16 holes drilled between 1968 and 2015; of which four holes in 2015 were drilled by Denison. A fixed-wing airborne gravity-magnetic and radiometric geophysical survey covering 80 percent of the property was completed by North Shore in 2022. The interpretation of the results from that survey together with publicly available geophysical and geologic data was used to prioritize three target zones with uranium potential for exploration in 2024. The initial follow-up exploration would consist of ground geophysical surveys and/or geologic mapping and prospecting in an effort to upgrade targets for drilling.

Management Team

Brooke Clements – President and CEO

Brooke Clements is a geologist with over 35 years of experience. Mr. Clements has held positions as President of Peregrine Diamonds (2007-2015), vice-president of exploration of Ashton Mining of Canada (1999-2007), and senior vice-president of Peregrine Metals (2007-2011). Peregrine Metals was sold to Stillwater Mining for US$487 million in 2011. He received the prestigious Association for Mineral Exploration of BC Hugo Dummett Award for diamond exploration and development in 2012 and 2018 in recognition of diamond discoveries in Quebec and Nunavut, respectively as well as the PDAC Bill Dennis Award in 2019 for the Nunavut discovery.

Jimmy Thom – Director

Jimmy Thom is currently the geologist and exploration manager for ASX-listed Dynamic Metals and Jindalee Resources (2021-present). Before that, he worked in various capacities at Paladin Energy (from 2009-2021), most recently (2018-2021) as exploration manager, and was responsible for all aspects of uranium exploration and deposit evaluation in multiple jurisdictions including Labrador.

Doris Meyer – Director

Doris Meyer has over 40 years of experience in financial reporting and corporate compliance. She has been director, CFO and corporate secretary for numerous publicly listed exploration companies trading on the TSX and TSXV.

Dan O’Brien – CFO

Dan O’Brien is the CFO for several publicly listed exploration companies. He was previously a senior manager at a leading Canadian accounting firm.

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