Investor Insight

Prismo Metals presents a compelling investment opportunity with its strategic focus on high-grade precious and base metal exploration in Mexico and Arizona, leveraging advanced technology and maximizing shareholder value through targeted asset development.

Overview

Mexico’s Sinaloa state hosts several prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s (TSX:USA) Cosalá operations and Kootenay Silver’s (TSXV:KTN) Copalito silver-gold project. Between 2012 and 2019, gold production at the El Gallo mine alone totaled 295,000 ounces (oz) and silver production peaked at 142,000 oz. At the Panuco project, Vizsla Silver (TSXV:VZLA) has an indicated resource of 9.5 million tons at grades of 289 g/t silver, 2.41 g/t gold, 0.27 percent lead and 0.84 percent zinc for 155.8 Moz silver equivalent.

Prismo Metals (CSE:PRIZ,OTCQB:PMOMF, FSE:7KU) has made a strategic move to join the list of successful explorers in this region. The company’s leadership team has decades of experience in the Mexican precious metals industry. Director, president, CEO and co-founder Dr. Craig Gibson has been an exploration consultant since 1998 and a director of Beyond Minerals (CSE:BY) Garibaldi Resources (TSXV:GGI).

Prismo Metals has three current exploration projects: Palos Verdes, Los Pavitos and Hot Breccia. The Palos Verdes property covers 22.77 hectares within the historic Panuco-Copala silver-gold district in Sinaloa, well-known for its numerous veins with historical production. While much of the district has been consolidated by Vizsla Resources, the Palos Verdes project is located near the district’s under-explored northeastern limit.

On January 9, 2023, Vizsla Resources acquired aright of first refusal to purchase the Palos Verdes project through a strategic investment agreement with Prismo Metals. Vizsla’s strategic investment consists of a cash payment of $500,000 and the issuance of one million common shares of Vizsla to Prismo. Pursuant to the strategic investment, the two companies formed a technical committee for district-scale exploration of the Panuco silver-gold district consisting of Drs. Gibson and Megaw along with Dr. Jesus Velador, vice president of exploration for Vizsla.

Prismo Metals’ Palos Verdes property includes 700 meters of strike length along the Palos Verdes vein, which has been explored for 250 meters with findings yielding as much as 6.7 grams per ton (g/t) gold and 544 g/t silver from surface and underground sampling. A second vein system may be reflected in a northwest striking alteration zone, offering an additional high-grade exploration target on the property.

In May 2019, the company and ProDeMin entered an option agreement in which Prismo may acquire a 75-percent interest in the Palos Verdes property, and later entered into an agreement to acquire the remaining 25 percent of the property from the original owner. The company conducted a 2,100-meter drill program at Palos Verdes in 2022, designed to test the Palos Verdes vein and a structural intersection with a second vein at depths where it is believed that potential for a large ore shoot is present, similar to the drilling accomplished by Vizsla Silver on their adjacent land package.

Prismo conducted a 15 hole, 2,923-meter drilling program at Palos Verdes in 2023, with the best result being 11,520 silver equivalent (102 g/t gold and 3,100 g/t silver) over 0.5 meters downhole. An alteration study and rock chip sampling program were also conducted and provide evidence that additional mineralization may occur in previously unexplored areas.

The Los Pavitos project is located in the Alamos region of southern Sonora, a well-mineralized area that hosts several active exploration and mining projects. The project consists of one concession covering 5,289 hectares. Early sampling and reconnaissance work has been carried out by previous companies, including Minera Cascabel, and show the presence of high-grade gold assays in at least two target areas.

In 2022 Prismo Metals signed a formal access agreement with Francisco Villa Ejido, the surface owner of the Los Pavitos Project to allow for exploration work and drilling, and completed a mapping, sampling and trenching program in 2023. Thus work paved the way for a first ever drill program at the project in 2023, consisting of 2,370 meters in 25 holes with excellent results.

Prismo acquired the right to earn a 75 percent interest in the Hot Breccia property in early 2023. Hot Breccia lies in the heart of the world-class Arizona copper belt and has historical drilling indicating the potential for a large copper mineralized system.

An airborne Z‐tipper axis electromagnetic (ZTEM) geophysical survey was completed at Hot Breccia. Prismo received assay results for the first batch of samples taken at the project indicating the presence of not only copper mineralization but also gold mineralization associated with gossanous veins and shear zones.

In 2025, Prismo Metals has signed option agreements to acquire100 percent of the historic Silver King and Ripsey mines in Arizona’s prolific Copper Belt, near its flagship Hot Breccia project. Silver King, discovered in 1875, produced nearly 6 million ounces of silver at grades up to 61 oz/t, with later sampling returning up to 644 oz/t silver and 15 g/t gold, indicating high-grade potential and possible antimony mineralization. The Ripsey mine, located 20 kilometers west of Hot Breccia, is an historic gold-silver-copper producer with sampling up to 15.85 g/t gold and 276 g/t silver, yet remains untested by modern exploration.

Company Highlights

• Prismo Metals is an exploration company targeting high-grade silver and gold projects in Mexico, one of the world’s top producers of precious metals, and a large-scale copper project in Arizona, the leading producer of the metal in the US.
• The company’s Palos Verdes property is located in the historic Panuco-Copala silver-gold district in Sinaloa, Mexico and is partly surrounded by ground controlled by Vizsla Silver Corp..
• The Palos Verdes property includes 700 meters of strike length along the Palos Verdes vein, which has yielded 6.7 grams per ton (g/t) gold and 544 g/t silver at the surface.
• The company’s Los Pavitos project is located in the well-mineralized Alamos region of southern Sonora. The project consists of one concession covering 5,289 hectares.
• The Hot Breccia project consists of 1,400 hectares located in the world class Arizona Copper Belt.
• Prismo’s management and advisory team offers decades of experience in the Mexican precious metals industry, including all aspects of exploration and resource development.
• Prismo acquired 100 percent of the Palos Verdes claim and has drilled 6000 meters on the property. The drill results revealed high-grade silver and gold showing multiple discrete quartz vein stages lacing between breccia fragments and showing distinctly differing mineralogy.
• Vizsla Silver Inc. completed a Strategic Investment and owns about 9.9 percent of the company.
• The company also filed on SEDAR an NI 43-101 Technical Report for its Los Pavitos Gold-Silver Project in southern Sonora, Mexico.

Key Projects

Hot Breccia

The Hot Breccia project is Prismo’s latest acquisition located in the heart of the great Arizona Copper Belt, USA and is located 40 km south of the Resolution deposit and 35 km north of the San Manuel / Kalamazoo deposit and is just a few kilometers from the Hayden Smelter. The Hot Breccia property has the same productive geologic units that host high-grade copper skarn mineralization at the adjacent, past-producing Christmas Mine owned by Freeport. Prismo has the option to earn a 75-percent interest in the Hot Breccia project from Infinitum Copper (TSXV:INFI).

The company completed an airborne Z‐tipper axis electromagnetic (ZTEM) geophysical survey at Hot Breccia in 2023 and received assay results for a first batch of samples taken at the project. The results indicate the presence of not only copper mineralization, but also gold mineralization associated with gossanous veins and shear zones. The ZTEM survey identified a priority drill target in a conductive anomaly at depth.

Following the success of the 2023 ZTEM survey, Prismo received permit approval from the Bureau of Land Management for 10 drill pads to allow for drilling to test the prospective stratigraphy below the cover volcanic rock over a wide area. Assay results for samples taken in February 2024 include 5.69 percent copper, 0.24 g/t gold and 32.8 g/t silver.

Earlier in 2024, Prismo Metals engaged Exploration Technologies (ExploreTech) from San Diego, California to apply xFlare, their artificial intelligence (AI)-optimized drill planning solution, to its Hot Breccia project where a number of features suggest well mineralized Arizona-style copper porphyry lies at depth. Prismo is currently planning an initial 5,000 meter drill program at Hot Breccia.

Palos Verdes

The company’s Palos Verdes property is located in Southern Sinaloa, roughly 65 kilometers northeast of Mazatlán. The Palos Verdes concession covers 22.77 hectares and is situated within the historic Panuco-Copala mining district, the largest silver producer in Sinaloa.

History

Mapping and sampling were conducted over the property by ProDeMin. The Palos Verdes vein crops out for about 750 meters along strike and yielded as much as 4.15 g/t gold and 732.7 g/t silver. Before the turn of the century, a 70-meter tunnel was driven along the Palos Verdes vein near the bottom of the Palos Verdes arroyo; a sample of the vein in this adit yielded 6.7 g/t gold and 544 g/t silver. In 2018, ProDeMin completed a diamond drilling program on the property. Notable drill results included 3.75 g/t gold and 1,098 g/t silver for 2.3 meters and 8.42 g/t gold and 2,336 g/t silver for 0.8 meters.

Drilling

The company has undertaken several drill campaigns at the project, and a total of about 6,052 meters have been drilled in 33 holes to date, including five holes drilled by ProDeMin in 2018. Results indicate the presence of a near-surface high-grade ore shoot in the Palos Verdes vein similar to mineralization in the resources defined by Vizsla Silver in the southwestern portion of the district.

The company, in conjunction with its strategic partner Vizsla Silver (TSXV:VZLA), has planned an expanded drill program with new holes to be drilled from Vizsla Silver’s concessions adjacent to the Palos Verdes concession, targeting the proposed extension of the Palos Verdes ore shoot at depth and a possible extension along strike to the northwest. Prismo Metals is planning on initiating this drill program in August, 2024.

Los Pavitos

The company’s Los Pavitos project is located in the Alamos region of Southern Sonora, a well-mineralized area that hosts multiple active exploration and mining projects. Los Pavitos consists of one concession covering 5,289 hectares. Early sampling and reconnaissance work has been carried out by previous companies, including Minera Cascabel. The property’s numerous mines and prospect pits indicate historical interest.

Prismo conducted a reconnaissance surface mapping and sampling at the project in 2022 and early 2023. This program consisted of about 1,500 samples and identified 5 main gold and silver mineralized target areas within several kilometer-scale structural zones. A follow up trenching program consisted of 698 meters in 25 trenches with almost 350 samples taken. A first ever drill program at the project was conducted in 2023, with 2,370 meters completed in 25 holes.

High-grade gold assays were encountered at the Santa Cruz target, with 10.2 g/t gold over 6.6 meters in drill hole LP-SC-23-02. A second gold zone was intersected at Las Auras, with 3.58 g/t gold over 1.15 meters within 3.65 meters carrying 2.33 g/t gold and 87.6 g/t silver.

Management Team

Gordon Aldcorn – President

Gordon Aldcorn brings over 20 years of experience in capital markets and junior public company development. Over the past five years, he has focused on the corporate management of copper and gold exploration projects, with a strong track record of advancing early-stage assets. Committed to responsible mineral exploration and long-term stakeholder engagement, Aldcorn now leads Prismo Metals through a pivotal growth phase, advancing its high-potential projects in Mexico and Arizona, including the flagship Hot Breccia copper project and the Palos Verdes silver project.

Alain Lambert – CEO and Director

Alain Lambert, who co-founded Prismo in 2018, is a lawyer by training and has over 35 years of experience in financing and advising small and medium-sized companies operating in various industries including technology, manufacturing, and the natural resources sector. He has been involved in private and public financings totaling more than $1 billion. He has an extensive network of investors, investment bankers, analysts, and investor relations professionals. Lambert acts as an advisor to public and private companies regarding financings, mergers and acquisitions plans, debt structuring as well as going-public transactions. Throughout his career, Lambert has served as a director and member of the audit committee and governance committee of small and medium-sized private and public companies. He holds a Bachelor of Laws degree (LL.B.) from the University of Montréal and a diploma of collegial studies, specializing in administration from the College Jean-de-Brébeuf in Montréal, Québec.

Craig Gibson – Chief Exploration Officer and Director

Dr. Craig Gibson has extensive experience in the minerals industry. He received his BS (1984) in earth sciences from the University of Arizona and MS (1987) and PhD (1992) in economic geology and geochemistry from the Mackay School of Mines, University of Nevada, Reno. He co-founded Prospeccion y Desarrollo Minero del Norte, S.A. de CV (ProDeMin) based in Guadalajara, Mexico, in 2009. ProDeMin is a consulting firm providing a broad spectrum of exploration-related services to the mining industry and has been involved in several major precious metal discoveries in Mexico. Gibson is also a director of Garibaldi Resources, a Vancouver-based junior exploration company; a certified professional geologist of the American Association of Professional Geologists; and a qualified person under NI 43-101.

Carmelo Marelli – CFO and Secretary

Carmelo Marrelli is the principal of the Marrelli Group, comprising Marrelli Support Services Inc., DSA Corporate Services Inc., DSA Filing Services Limited, Marrelli Press Release Services Limited, Marrelli Escrow Services Inc. and Marrelli Trust Company Limited. The Marrelli Group has delivered accounting, corporate secretarial and regulatory compliance services to listed companies on various exchanges for over twenty years. Marrelli is a chartered professional accountant (CPA, CA, CGA), and a member of the Institute of Chartered Secretaries and Administrators, a professional body that certifies corporate secretaries. He received a bachelor of commerce degree from the University of Toronto. Marrelli acts as the chief financial officer to several issuers on the TSX, TSX Venture Exchange and CSE, as well as non-listed companies, and as a director of select issuers.

Martin Dupuis – Director

Martin Dupuis has over 25 years of experience covering all stages of a project’s life, from exploration through feasibility and engineering studies, construction, mine expansion and operations. Dupuis serves as Vizsla Silver’s chief operating officer. He was instrumental in the oversight and delivery of the company’s maiden resource estimate. Before joining Vizsla Silver, Dupuis was director of geology for Pan American Silver, technical services manager for Aurico Gold, and chief geologist at several other operations.

Jorge Rafael Gallardo-Romero – Director

Jorge Rafael Gallardo-Romero has been a consultant geologist of Cascabel since March 1992. He also acts as Mexico exploration manager of Gainey Capital (since January 2015) and of Minera Goldzone SA de CV (since March 2011). Gallardo-Romero graduated from the University of Sonora with a degree in Geology in 1984.

Maria Guadalupe Yeomans Otero – Director

Maria Yeomans Otero is a geologist who graduated from Universidad de Sonora, Mexico, in 1986, with master’s studies in business administration at the same university. She has been a part of the team at Cascabel since 1992 and is now the office manager. She speaks English fluently and has extensive experience in the administration, legal and commercial relations related to mining.

Louis Doyle – Director

Louis Doyle has over 30 years of experience focused primarily on capital markets and public companies. Since 2016, he has also provided consulting services to private companies seeking listing on Canadian exchanges. Since January 2016, Doyle has been the executive director of Québec Bourse. Between October 1999 and December 2015, he was the vice-president, Montréal of the TSX Venture Exchange. As such, he was responsible for business development and listing activities in the provinces of Québec and Atlantic Canada. During his tenure, he acted as chairman of the TSX Venture listing committee and was a member of the policy committee. Doyle also led the nationwide TSX Venture mentorship program and further acted regularly as a speaker and advisor at conferences and workshops. He also holds directorship roles with two other publicly traded companies. Doyle was granted 150,000 incentive stock options exercisable at $0.165 per share before June 26, 2027. Also, three other directors were each granted 50,000 incentive stock options, exercisable at $0.165 per share before June 26, 2027.

Peter Megaw – Advisor

Dr. Peter Megaw is best known as co-founder of MAG Silver and Minaurum Gold. He and his team are credited with MAG Silver’s Juanicipio discovery in the famous Fresnillo District and Excellon Resources’ Platosa mine. He received his doctorate from the University of Arizona and has more than 35 years of experience exploring silver and gold in Mexico. Megaw is a certified professional geologist by the American Institute of Professional Geologists and an Arizona Registered Professional Geologist. He is the author of numerous scientific publications on ore deposits and is a frequent speaker at academic and international exploration conferences. He was awarded the 2017 Thayer Lindsley Award for the 2003 discovery of the Juanicipio silver deposit in the Fresnillo District, ultimately leading to a further 600 million ounces being identified in the immediate area. Megaw also received the Society of Mining Engineers 2012 Robert M. Dreyer Award for excellence in applied economic geology.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$116,999, a 0.8 percent decline in 24 hours. Its lowest valuation of the day was US$116,956, while its highest was US$118,192.

Bitcoin price performance, August 15, 2025.

Chart via TradingView.

Bitcoin surged to a new all-time high of US$124,533 on Thursday (August 14), driven by increased institutional interest and expectations that the US Federal Reserve will cut interest rates.

However, the rally was short-lived, as the price fell as low as US$117,263 early on Friday.

The decline was attributed to hotter-than-expected US producer price index data for July, which dampened investor optimism about a rate reduction. Additionally, comments from US Secretary of the Treasury Scott Bessent revealed that the country holds less Bitcoin in reserve than previously thought, further unsettling the market.

Ethereum (ETH) experienced one of its most successful weeks of the year, with on-chain data further underscoring this bullish trend. Daily active addresses, stablecoin transfer volume and daily transactions all reached record highs this week. Additionally, decentralized exchange volume hit its highest point since 2022.

As of Friday’s close, ETH was priced at US$4,391.13, a 3.3 percent decline over 24 hours. Its lowest valuation on Friday was US$4,381.31, and its highest was US$4,614.81.

Altcoin price update

• Solana (SOL) was priced at US$184.03, down by 4.8 percent over 24 hours. Its lowest valuation of the day was US$183.837, while its highest valuation was US$193.02.

• XRP was trading for US$3.07, down 0.3 percent in the past 24 hours. Its lowest valuation of the day was US$3.01, and its highest was US$3.11.

• Sui (SUI) was trading at US$3.66, down by 2.4 percent over the past 24 hours. Its lowest valuation of the day was US$3.63, while its highest was US$3.85.

• Cardano (ADA) was trading at US$0.93, up 0.3 percent over 24 hours. Its lowest valuation of the day was US$0.9186, while its highest was US$0.9526.

Today’s crypto news to know

Ethereum ETF inflows hit nearly US$3 billion for the week

Ethereum-focused exchange-traded funds (ETFs) have seen an unprecedented surge in investor demand, attracting almost US$3 billion in net inflows over the past week. According to SoSoValue data, this amount is more than five times the US$562 million that flowed into Bitcoin ETFs during the same period.

The spike coincides with a rapid increase in Ethereum holdings by crypto treasury firms — their exposure has climbed from US$600 million to US$11 billion in just six weeks. It also follows the US Securities and Exchange Commission’s (SEC) approval of in-kind creations and redemptions for spot Bitcoin and Ethereum ETFs. The change makes the funds more cost efficient and attractive to institutional investors.

ETF Store President Nate Geraci said in a post on X that three of the four largest single-day inflows for Ethereum ETFs since their inception occurred this week alone. Prices for the cryptocurrency have rallied nearly 19 percent over the past seven days, coming within reach of their 2021 all-time high of US$4,878.

Galaxy Digital secures US$1.4 billion loan for AI data center

Galaxy Digital (NASDAQ:GLXY) has secured a US$1.4 billion term loan facility to accelerate the development of its Helios artificial intelligence (AI) data center campus in Texas.

The loan, announced on Friday, will cover approximately 80 percent of the construction costs for the project’s first phase, with Galaxy Digital contributing US$350 million in equity. According to an SEC filing, the loan is secured by all assets of Galaxy Helios I, a subsidiary of Galaxy Digital, and is set to mature on August 15, 2028.

The capital infusion will fund the expansion of the Helios AI datacenter, enabling it to deliver power for AI workloads under a long-term agreement with GPU cloud provider CoreWeave (NASDAQ:CRWV), commencing in early 2026.

Galaxy Digital also announced the expansion of a power capacity deal with CoreWeave to 800 megawatts for AI and high-performance computing operations at its Helios campus, projecting over US$1 billion in annual revenue from this deal, or US$15 billion over 15 years. The Helios data center is expected to reach a 3.5 gigawatt capacity when fully developed, with 2.7 gigawatts available for other clients after the CoreWeave agreement.

DOJ seizes over US$2.8 million in crypto from alleged ransomware operator

On Thursday, the US Department of Justice (DOJ) announced the seizure of over US$2.8 million in cryptocurrency, as well as cash and other assets, as part of a criminal case against an alleged ransomware operator.

Ianis Aleksandrovich Antropenko, the alleged operator, faces charges of conspiring to commit computer fraud and abuse, as well as conspiracy to commit money laundering.

On Thursday, the DOJ unsealed six warrants, authorizing the seizure of US$2.8 million in cryptocurrency from a wallet controlled by Antropenko, along with US$70,000 in cash and a luxury vehicle.

According to the notice, these assets are believed to be the proceeds of ransomware activity, or involved in laundering those proceeds. The laundered assets were disguised through various methods, including the use of ChipMixer, a cryptocurrency mixing service that was shut down in a coordinated international operation in 2023.

Antropenko also laundered cryptocurrency by converting it to cash and making structured cash deposits.

Saylor bets on US$100 billion ‘Bitcoin credit’

Michael Saylor, executive chairman of Strategy (NASDAQ:MSTR), is pursuing a high-risk plan to finance further Bitcoin purchases through perpetual preferred stock offerings.

The new securities — nicknamed “Stretch” — do not mature, lack voting rights and can skip dividends under certain conditions, giving the issuer flexibility while raising investor concerns about risk.

This marks a departure from the company’s earlier reliance on common stock sales and convertible bonds to fund what is now a US$75 billion Bitcoin treasury. Saylor aims to retire billions in outstanding debt and replace it with preferred equity, which he says could theoretically scale to US$100 billion or more in capital raised.

The model hinges on investor appetite for yield backed indirectly by Bitcoin’s performance, while avoiding the dilution impact of issuing more common stock.

Federal Reserve Board to sunset crypto supervision program

In a notice on Friday, the US Federal Reserve Board said it will sunset a program created in August 2023 to supervise certain activities related to crypto assets and distributed ledger technology.

The Fed said it will return to monitoring activity through the normal supervisory process.

“Since the Board started its program to supervise certain crypto and fintech activities in banks, the Board has strengthened its understanding of those activities, related risks, and bank risk management practices,” it said.

“As a result, the Board is integrating that knowledge and the supervision of those activities back into the standard supervisory process and is rescinding its 2023 supervisory letter creating the program.”

Hong Kong SFC rolls out stricter rules for licensed crypto platforms

Hong Kong’s Securities and Futures Commission (SFC) has introduced new custody rules for licensed virtual asset trading platforms, setting stricter benchmarks for how client assets must be stored and secured.

The updated framework includes specific requirements for cold wallet usage, senior management accountability and real-time cyber threat monitoring, alongside rules for using third-party wallet providers.

These measures follow an SFC review earlier this year that identified security and operational gaps among some licensed exchanges. The regulator says the changes are part of its ASPIRe strategy, a five point plan to address liquidity fragmentation, regulatory arbitrage and volatility, while expanding regulated product offerings.

The policy also aims to position Hong Kong as a safer, more structured alternative to other Asian crypto hubs, notably Singapore, which has imposed tighter limits on retail trading.

1. US government strikes controversial Big Tech deal

On Monday (August 11), the Washington Post reported on a deal between the US government and tech giants NVIDIA (NASDAQ:NVDA) and Advanced Micro Devices (AMD) (NASDAQ:AMD). It stipulates that the tech companies must surrender 15 percent of revenue from Chinese sales of NVIDIA’s H20 chips and AMD’s MI308 chips.

Anonymous sources told the news outlet that this condition was imposed as a prerequisite for granting the companies export licenses to sell their products in China. The move that has prompted legal concerns among trade experts who say the fee could be construed as an unconstitutional trade tax.

“To call this unusual or unprecedented would be a staggering understatement,” Stephen Olson, a former US trade negotiator, told Bloomberg. “What we are seeing is in effect the monetization of US trade policy in which US companies must pay the US government for permission to export.”

AMD, NVIDIA and Intel performance, August 12 to 15, 2025.

Chart via Google Finance.

Meanwhile, shares of Intel (NASDAQ:INTC) rose as much as 4.6 percent on Tuesday (August 12) following a ‘candid and constructive’ meeting between CEO Lip-Bu Tan and US President Donald Trump on Monday.

The meeting came after Trump called for Tan’s removal last week.

According to a separate Bloomberg article, the US government is considering taking a stake in the chipmaker to help it establish a planned factory hub in Ohio; the company once promised it would be the world’s largest chipmaking facility. Tan has not confirmed or denied the report, but discussions are said to be ongoing. Sources told Bloomberg the government is considering using funds from the Biden administration’s Chips Act to fund the stake.

2. Amazon to expand grocery delivery services

Amazon (NASDAQ:AMZN) shares rose as much as 1.3 percent on Wednesday (August 13) after the commerce company announced plans to significantly expand its grocery services.

On Wednesday, the company said its same-day delivery service will now include fresh groceries, including produce, meat and dairy, in over 1,000 cities, with plans to expand into more than 2,300 by the end of the year.

The service is included in Amazon Prime memberships for orders over US$25. Smaller orders and orders from non-members will require fees of US$2.99 and US$12.99, respectively.

3. CoreWeave shares drop after mixed earnings report

Artificial intelligence (AI) data center operator CoreWeave (NASDAQ:CRWV) reported mixed Q2 results on Tuesday, with revenue more than doubling year-on-year to US$1.2 billion, beating estimates of US$1.08 billion, and a revenue backlog of US$30.1 billion. However, the growth came at a high cost. The company reported a record US$2.9 billion in capital expenditures for the quarter, and operating expenses jumped by 276 percent to US$1.19 billion.

CoreWeave performance, August 12 to 15, 2025.

Chart via Google Finance.

The company also reported losses of US$291 million, larger than the US$190.6 million analysts had estimated.

Shares of CoreWeave opened more than 10 percent lower on Wednesday and declined throughout the week, closing at US$99.97 on Friday (August 15) compared to Monday’s opening price of US$134.80.

4. Perplexity bids on Chrome, prepares for fresh funding round

AI startup Perplexity made a US$34.5 billion bid for Google’s (NASDAQ:GOOGL) web browser, Chrome, in a move to secure its future in the AI search market. Perplexity told the Wall Street Journal that the unsolicited offer would be funded with the help of outside investors. The company’s advance comes as Google faces a potential divestiture following an antitrust trial that found it had illegally monopolized online search and search advertising.

OpenAI has also expressed interest in acquiring Chrome.

On Thursday, Business Insider reported that Perplexity is preparing for another round of funding, which would mark its sixth fundraiser in 18 months. The company is reportedly seeking a post-money valuation of US$20 billion. This comes barely one month after the startup achieved a US$18 billion valuation.

The rapid succession of these events underscores the intense, high-stakes competition among AI startups to secure foundational assets and challenge established tech giants.

Canadian AI startup Cohere secured US$500 million in fresh funding on Thursday from a group of investors that included NVIDIA and AMD, bringing its valuation to US$6.8 billion. The company also onboarded former executives from Uber Technologies (NYSE:UBER) and Meta Platforms (NASDAQ:META).

5. Apple plans product expansion

Apple (NASDAQ:AAPL) shares climbed as high as 1.7 percent on Wednesday after Bloomberg reported on the company’s planned expansion into robotics, home security and smart displays.

The new products are aimed at strengthening Apple’s product ecosystem, which has paled in comparison to offerings from tech rivals like Amazon and Meta.

Apple performance, August 12 to 15, 2025.

Chart via Google Finance.

Some of the new devices slated for future release include a tabletop virtual companion robot, a long-planned advanced Siri model with a visual personality, a smart speaker with display capabilities and home security cameras.

Apple finished the week at US$231.59, a 1.7 percent gain from Monday.

Markets and commodities react

In Canada, equity markets were mixed this week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was in record territory, closing Wednesday (August 13) at an all-time high of 27,993.43, but it had slipped by Friday to close the week up 0.41 percent at 27,905.49.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) was flat, posting a slight loss of 0.12 percent to 790.77. The CSE Composite Index (CSE:CSECOMP) had another strong week, gaining 3.58 percent to 156.87.

US equity markets rebounded this week and finished near all-time highs.

The S&P 500 (INDEXSP:INX) set a new record on Thursday (August 14), closing at 6,468.53, but slipped to register a 1.49 percent gain on the week to 6,449.79. The Nasdaq 100 (INDEXNASDAQ:NDX) also set a new record of 23,849.04 on Wednesday, but fell in the last two days of trading, recording a weekly gain of 1.08 percent to 23,712.07.

Meanwhile, the Dow Jones Industrial Average (INDEXDJX:.DJI) was above 45,000 points for the first time since December 2024, but failed to achieve a new record. It posted a 2.01 percent gain to finish the week at 44,946.13.

The gold price slumped this week following clarification from the White House that imports of 1 kilogram and 100 ounce gold bars from Switzerland will not face tariffs. Gold had fallen 1.81 percent by 4:00 p.m. EDT on Friday to reach US$3,338.36 per ounce. Silver also retraced this week, losing 0.7 percent to hit US$37.97 per ounce.

Copper saw little change this week, posting a 0.44 percent gain to US$4.54 per pound. The S&P GSCI (INDEXSP:SPGSCI) commodities index posted a slight decline of 0.8 percent by close on Friday, finishing at 545.59.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stock data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Focus Graphite (TSXV:FMS)

Weekly gain: 94.44 percent
Market cap: C$25.18 million
Share price: C$0.35

Focus Graphite is working to advance its Lac Knife and Lac Tétépisca projects in Québec, Canada.

Lac Knife covers 3,248 hectares in Eastern Québec. An April 2023 updated feasibility study outlines an after-tax net present value of C$284.8 million with an internal rate of return of 22.57 percent and a payback period of 3.38 years. Lac Knife is expected to produce 50,000 metric tons (MT) of graphite concentrate annually over a mine life of 27 years.

For its part, Lac Tétépisca spans 6,629 hectares in Central Québec. An April 2022 technical report shows an indicated resource of 59.3 million MT grading 10.61 percent graphitic carbon for 6.3 million MT of in-situ natural flake graphite. The inferred category stands at 14.8 million MT grading 11.06 percent graphitic carbon for 1.6 million MT.

On Wednesday (August 13), Focus resumed work on the environmental and social impact assessment for Lac Knife. In total, it has to complete 16 technical reports as required by the province to advance to the construction phase. Focus previously halted work due to funding delays, but now expects the reports to be complete in early 2026.

The firm is also moving forward with geochemical analysis of over 1,000 samples collected from 2022 exploration drilling at Lac Tétépisca. It will use the results to finalize a resource estimate, which it expects to deliver this fall.

This week’s news comes after Focus said on August 8 that it had closed a non-brokered private placement for C$891,000. Funds will be used to maintain existing operations and for general capital.

2. Libra Energy Materials (CSE:LIBR)

Weekly gain: 56.67 percent
Market cap: C$13 million
Share price: C$0.235

Libra Energy Materials is a lithium-focused exploration company that is currently working to advance its Flanders North, Flanders South and Soules Bay-Caron (SBC) projects in Ontario, Canada.

The properties are part of a November 2024 earn-in agreement with KoBold Metals. Libra can earn a 75 percent stake by incurring C$33 million in exploration expenditures across the properties over the next six years.

Flanders North and South cover 40,000 hectares, and initial surveys in 2023 revealed hundreds of pegmatites, with surface exposures of up to 200 meters in width and grab samples of up to 2.86 percent lithium oxide.

SBC covers an area of 15,000 hectares and is located near Pickle Lake, Ontario. Exploration work carried out at the property in June 2024 earned the company the Bernie Schnieders Discovery of the Year Award. The discovery included several spodumene-bearing pegmatites with widths of up to 30 meters, and spodumene grades of 15 to 25 percent across SBC. During the program, the company collected 184 grab samples with up to 6.64 percent lithium oxide.

Shares of Libra gained this week, but the company did not release any news.

3. Q-Gold Resources (TSXV:QGR)

Weekly gain: 50 percent
Market cap: C$10.48 million
Share price: C$0.18

Q-Gold Resources is a gold explorer focused on the acquisition of the Quartz Mountain project in Oregon, US. On April 3, it entered into a definitive agreement with Alamos Gold (TSX:AGI,NYSE:AGI) to acquire the property.

The measured and indicated gold resource for Quartz Mountain, which spans 2,000 hectares, comes in at 339,000 ounces at an average grade of 0.87 grams per MT (g/t) from 12.16 million MT of ore; its inferred resource stands at of 1.15 million ounces with an average grade of 0.91 g/t from 39.21 million MT ore.

Q-Gold’s latest news came on August 8. It said company representatives intend to visit the project site for the first time. They expect to conduct sampling of select diamond drill cores and verify the current status of all claims at the project.

4. Gienstar Minerals (CSE:GIEN)

Weekly gain: 49.12 percent
Market cap: C$17.58 million
Share price: C$0.85

Glenstar Minerals is an exploration company working to advance projects in Nevada, US.

Its Green Monster property consists of 35 lode claims and covers 700 acres southwest of Las Vegas. The property hosts nickel, copper, cobalt and zinc mineralization, and has mine workings dating back to the late 1800s.

The most recent update from the property came this past Wednesday, when Glenstar announced that it will switch the focus of its Phase 2 drill program to extension drilling following the discovery of a new polymetallic zone. The drilling will be centered on a high-grade zinc occurrence with grades above 30 percent and assay results of up to 177 parts per million (ppm) silver, 523 ppm nickel, 91.9 ppm cobalt and copper of 0.36 percent.

The company also owns the Wildhorse property in Southern Nevada. The early stage project has had limited exploration, but assays from a sampling program were released on July 23. In that announcement, Glenstar said four grab samples from the Coca Cola zone returned copper grades of 1.6 percent, 5.3 percent, 2.3 percent and 5.1 percent, with an average of 21.6 ppm silver, 156 ppm bismuth and 72.5 ppm tungsten.

Four samples were also collected from the Highland zone, which returned average grades of 0.16 percent copper, 1.23 percent zinc, 1.98 percent lead and 43 ppm silver.

5. Sterling Metals (TSXV:SAG)

Weekly gain: 47.69 percent
Market cap: C$13.3 million
Share price: C$0.48

Sterling Metals is an exploration company working to advance a trio of projects in Canada. Over the past year, its primary focus has been on exploration at its brownfield Soo copper project in Ontario. The 25,000 hectare property has hosted two past-producing copper mines and has the potential for larger intrusion-related copper mineralization.

On January 15, Sterling announced results from a 3D induced-polarization and resistivity survey that covered an area of 5 kilometers by 3 kilometers and revealed multiple high-priority drill-ready targets.

The company intends to use the survey results, along with historical exploration, to inform a drill program at the site.

The company’s other two projects are Adeline, a 297 square kilometer district-scale property with sediment-hosted copper and silver mineralization along 44 kilometers of strike, and Sail Pond, a silver, copper, lead and zinc project that hosts a 16 kilometer long linear soil anomaly and has seen 16,000 meters of drilling.

Both properties are located in Newfoundland and Labrador.

The most recent news from the company came on August 7, when Sterling reported that it had commenced Phase 2 drilling at Soo. The 3,000 to 5,000 meter program is designed to test areas defined through the Phase 1 program, as well as historic drill data and geophysical interpretations.

FAQs for Canadian mining stocks

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Bullet briefing — CATL closes mine, Mitsubishi invests in copper

CATL temporarily closes lithium mine

Contemporary Amperex Technology (HKEX:3750,SZSE:300750), better known as CATL, said on Sunday (August 10) that it will halt production at a lithium mine in China for at least three months.

Sources familiar with the matter told Bloomberg that CATL, which is the world’s largest electric vehicle battery maker, failed to extend a key mining permit. The company is reportedly in talks about a renewal, but is prepared for a months-long shutdown.

Share prices of lithium miners rose on the news, buoyed by expectations that the CATL mine closure will help reduce oversupply. Excess output has caused Chinese lithium prices to drop 80 percent since the end of 2022, and investors are keen to see a turnaround for the beleaguered battery metal.

Hudbay, Mitsubishi team up on copper

Mitsubishi (TSE:8058) is set to acquire a 30 percent stake in Hudbay Minerals’ (TSX:HBM,NYSE:HBM) Arizona-based Copper World subsidiary for US$600 million.

Hudbay called Mitsubishi its ‘strategic partner of choice,’ while Mitsubishi said the investment will help advance its copper growth plans. A feasibility study is in the works for Copper World, and a definitive feasibility study is expected in mid-2026.

Hudbay shareholders reacted positively to the news, which comes on the back of a strong focus on copper supply after last month’s announcement of a 50 percent tariff on US imports of semi-finished copper products and intensive copper derivative products. The company projects that Copper World will result in a direct $1.5 billion investment into the US critical minerals supply chain.

Barrick nearly doubles profit margins

Barrick Mining (TSX:ABX,NYSE:B) formerly Barrick Gold, reported a 97 percent year-on-year jump in net income to US$1.25 billion for the quarter, compared to US$634 million a year earlier.

Earnings per share rose to US$0.47 while operating cash flow in the first half reached US$2.5 billion, up 32 percent from 2024. Free cash flow more than doubled to US$770 million, supported by higher commodity prices.

Gold production climbed 5 percent from the first quarter, while copper output surged 34 percent, led by strong performance at Zambia’s Lumwana mine. Nevada Gold Mines boosted output by 11 percent, while Pueblo Viejo in the Dominican Republic posted a 28 percent increase as expansion work in the site advanced.

“From the ramp-up at Goldrush to the progress at Pueblo Viejo, Lumwana and Reko Diq, not to mention the transformational potential of Fourmile, we’re demonstrating the strength and depth of our portfolio,” president and chief executive Mark Bristow said in the recent Q2 report.

The company also recently agreed to sell its Alturas Project in Chile to a Boroo subsidiary for US$50 million upfront plus a royalty, with proceeds earmarked for funding future ventures

Kinross outpaces gold price gains

Kinross Gold Corporation (TSX:K,NYSE:KGC) posted record attributable free cash flow of US$646.6 million in the second quarter, alongside operating cash flow of US$992.4 million. Adjusted net earnings jumped to US$541 million from US$174.7 million a year earlier.

Further, the company achieved a 21 percent margin increase from the first quarter, outpacing the 15 percent rise in gold prices over the same period.

“Our portfolio of mines continued to perform well during the quarter contributing to a strong first half of the year and positioning us well to achieve our full-year guidance,” CEO J. Paul Rollinson said.

Kinross said that it expects to produce 2 million gold-equivalent ounces in 2025 at an average production cost of US$1,120 per ounce.

Paracatu in Brazil was the company’s top-producing asset, while Tasiast in Mauritania began mining the Fennec satellite deposit. US-based Bald Mountain also reported higher output at lower costs.

The company also advanced key projects, including its Great Bear exploration program in Ontario, engineering work at Round Mountain Phase X in Nevada, and drilling at the Curlew Basin project in Washington.

Agnico Eagle delivers, shares gain

Agnico Eagle’s (TSX:AEM,NYSE:AEM) operational consistency and cost control helped drive a six-day share price rally, culminating in a 10.06 percent gain over the past week.

In the second quarter, the company produced 866,029 ounces of gold, maintaining full-year guidance of 3.3 to 3.5 million ounces. Adjusted earnings per share came in at US$1.94, prompting analysts to raise 2025 profit forecasts by US$0.70 to US$6.94.

Analysts cited the company’s steady performance despite rising unit costs, noting its appeal as a defensive play in the sector. Bank of America raised its price target to US$173 due to rising optimism about the firm’s growth prospects.

Newmont rides sector momentum

Newmont (TSX:NGT,NYSE:NEM) posted higher sales and net income for the quarter while authorizing a new share repurchase program and declaring a quarterly dividend.

The miner also renewed a key lease in Ghana. Shares rose 36 percent over the last quarter, outpacing the US Metals and Mining industry’s 24.1 percent return.

The performance came despite a drop in the company’s gold production. Rather, Newmont underscored the role of shareholder returns and strategic asset moves in supporting investor sentiment. Over the past three years, Newmont has delivered a total shareholder return of 63.75 percent.

Gold outlook: Gold shines during volatility

The sector’s strong quarter unfolded against a favorable macro backdrop.

Gold, which has gained about 30 percent year-to-date, has been buoyed by safe-haven flows. The metal’s latest rally began after spot prices dipped to US$3,311.80 in early August, then climbed back above US$3,418 by the first week of August..

The Federal Reserve cut rates by a full percentage point in late 2024 but has held steady this year, citing the need for more data on how tariffs affect inflation. Lower rates generally enhance gold’s appeal by reducing the opportunity cost of holding non-yielding assets..

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$122,444, up by 2.6 percent over the last 24 hours, and its highest valuation of the day. It briefly dropped to its lowest valuation of $120,414 shortly after the opening bell.

Bitcoin has found itself at the crossroads of macroeconomic data, political influence and shifting capital flows. Inflation statistics and central bank dynamics have introduced caution, while stablecoin activity and institutional appetite are hinting at a redistribution into altcoins.

Bitcoin price performance, August 13, 2025.

Chart via TradingView.

Meanwhile, Ethereum (ETH) continued to rally, up by 4.5 percent to US$4,716.60. The cryptocurrency’s lowest valuation on Wednesday was US$4,638.43, and its highest was US$4,738.59.

Glassnode notes that ETH is a bellwether for altcoins, and its current move as capital continues to flow into exchange-traded funds suggests further upside. In an X post on Wednesday, Charles Edwards, founder of crypto quantitative digital asset fund Capriole Investments, shared data showing that 75 percent of Coinbase Global’s (NASDAQ:COIN) volume came from institutional players on Tuesday (August 12).

He pointed to the outlook for interest rates following the release of July inflation data.

Altcoin price update

• Solana (SOL) was priced at US$200.74, up by 6.1 percent over 24 hours, and its highest valuation of the day. Its lowest valuation was US$195.81.

• XRP was trading for US$3.27, up 0.1 percent in the past 24 hours and at its highest valuation of the day. Its lowest was US$3.24.

• Sui (SUI) was trading at US$3.99, up by 2.3 percent over the past 24 hours, and its highest valuation of the day. Its lowest level was US$3.93.

• Cardano (ADA) was trading at US$0.8827, up by 4.6 percent over 24 hours, and its highest valuation on Wednesday. Its lowest was US$0.8660.

Today’s crypto news to know

World Liberty Financial sets up US$1.5 billion crypto treasury

World Liberty Financial, a digital asset venture backed by US President Donald Trump and his sons, has announced plans to establish a US$1.5 billion “crypto treasury” in partnership with ALT5 Sigma (NASDAQ:ALTS).

Under the deal, ALT5 will raise US$1.5 billion through the sale of its own shares. The funds will go toward the purchase of World Liberty’s in-house token, $WLFI, and will also be used to set up a crypto treasury, settle litigation, pay down debt and for other corporate uses. It will ultimately hold about 7.5 percent of $WLFI tokens.

Unnamed institutional investors and venture capital firms participated in the share sale. Crypto treasury models have grown in popularity this year amid a friendlier US regulatory stance under the Trump administration.

The project’s leadership is heavily tied to the Trump family, with Trump himself listed as “co-founder emeritus,” and Eric, Donald Jr. and Barron Trump holding co-founder titles.

As part of the arrangement, Eric Trump will join ALT5’s board and Zach Witkoff will serve as its chair.

Bullish shares surge on NYSE debut

Bullish (NYSE:BLSH), the parent company of Bullish Exchange and CoinDesk, began trading on the New York Stock Exchange on Wednesday. Shares were priced at US$37 each, an increase from an earlier target of US$33, with 30 million on offer to raise US$1.1 billion and value the company at nearly US$5.4 billion.

Shares surged as much as 218 percent to reach US$118 on trading volume of roughly 38 million shares, before pulling back to close at US$70.65. The initial public offering pushed the company’s market cap above US$10 billion.

Banking groups push for stablecoin loophole closure

US banking groups, led by the Bank Policy Institute (BPI), are urging Congress to close a loophole that allows stablecoin issuers to indirectly offer yields through affiliates. They argue that while new stablecoin laws prevent issuers from directly offering yield, they don’t prohibit crypto exchanges or affiliated businesses from doing so.

The groups contend that this circumvents the law and could lead to a US$6.6 trillion outflow of deposits from traditional banks, potentially disrupting credit flow to American businesses and families.

Banks are concerned that yield-bearing stablecoins undermine their ability to attract deposits, which are crucial for backing loans. The offering of yield is a significant marketing draw for stablecoins, with some, like USDC, already rewarding holders on exchanges such as Kraken and Coinbase (NASDAQ:COIN).

Safe harbor programs proposed for DeFi

In a Wednesday letter, Andreessen Horowitz (a16z) and the DeFi Education Fund asked the US Securities and Exchange Commission (SEC) and Hester Peirce, head of the commission’s Crypto Task Force, to set up a safe harbor program from broker-dealer registration requirements for non-fungible token (NFT) and DeFi applications.

The group said the letter was a follow up to Trump’s Working Group on Digital Assets, which called on the SEC to give certain DeFi service providers relief from registration provisions under the Exchange Act, specifically those related to broker-dealers, exchanges and clearing agencies. SEC Chair Paul Atkins also directed staff to update “antiquated agency rules and regulations” for certain crypto and blockchain applications in July.

To avoid enforcement actions, a safe harbor provision would exempt some companies that offer crypto-related products and services from enforcement actions. a16z has sent two previous letters to the commission this year recommending safe harbors for NFTs, airdrops and network tokens.