Analyst Articles

Hercules Metals is progressing exploration at its 100%-owned Hercules Project in Idaho, where drilling has defined a copper porphyry system known as Leviathan beneath an upper silver zone. Backed by strategic investor Barrick Mining, Hercules Mining plans a 12,000m program in 2025 targeting deeper porphyry zones and potential new targets across the property. Newly permitted areas and additional land agreements strengthen the company’s position. Historic and recent drilling suggest multi-metal potential, and planned activity across the Eastern Block, Southern Flats, and Grade Creek zones may provide key catalysts for shareholders in the coming months. [more]

The U.S.-Ukraine minerals agreement gives U.S. firms access to Ukraine’s rare earths, lithium, and hydrocarbons in exchange for ongoing aid and a revenue-sharing model. The deal establishes a reinvestment fund for infrastructure and energy development, though the governance structure remains incomplete. Ukraine’s Parliament must still ratify the agreement, and the war adds significant uncertainty. Several U.S. and European mining and defense companies are reportedly assessing opportunities. With no production timeline and limited transparency rules, the arrangement reflects geopolitical positioning as much as economic strategy. However, investors are watching for signs of stability before capital begins to flow at scale. [more]

Canadian North Resources Inc (TSXV: CNRI) continues to advance its 100%-owned Ferguson Lake Project in Nunavut, Canada. The polymetallic resource includes copper, nickel, cobalt, palladium, and platinum, all key metals for the clean energy transition. A 2024 mineral resource estimate outlines 66.1 Mt Indicated and 25.9 Mt Inferred, including 1.093 billion pounds of copper and 678 million pounds of nickel in the Indicated category, with most of the resource mineable by open pit. Ongoing metallurgical and geophysical work supports further resource expansion. With over C$190 million in historical investment, the project is positioned as a potential joint venture or acquisition target as CNRI works toward future technical studies and project de-risking. [more]

Canadian Gold Corp (TSXV: CGC) is progressing its Tartan Lake Gold Mine project in Manitoba, supported by a strategic investment from mining financier Rob McEwen. A pending updated resource estimate will include more than 30,000 metres of drilling completed since 2021. With an average grade of 6.32 g/t Au and strong infrastructure access, the Company is targeting a potential restart of underground operations. CGC also holds projects near Agnico Eagle’s Hammond Reef and Malartic mines. Multiple near-term catalysts, including a resource update, PEA, and additional drill results, could impact valuation as the company advances toward development. [more]

Blue Star Gold Corp (TSXV: BAU) is advancing its exploration and development program in Nunavut’s High Lake Greenstone Belt. The company’s flagship Ulu Gold Project holds 875,000 ounces of gold in NI 43-101 resources. Last month, Blue Star completed a $3.5 million private placement and reported new high-grade gold intercepts at Ulu, expanded the Central Prospect to 525 metres of strike, and confirmed the drill-readiness of the Axis and Auma targets. Additional work is planned at the Ataani VMS discovery in the Roma Project. Shares have gained 130% year-to-date, supported by exploration results and renewed market interest. [more]

AbraSilver (TSX: ABRA) is progressing its 100%-owned Diablillos silver-gold project in Argentina, following a Pre-Feasibility Study (PFS) and successful equity financings totaling $58.5 million. The Diablillos project includes a Proven and Probable Reserve of 124 million silver ounces and 1.1 million gold ounces, with an after-tax NPV of US$747 million and a 27.6% IRR. AbraSilver has also partnered with Teck Resources at its La Coipita copper-gold project. Kinross Gold and Eric Sprott participated in the recent financings, reinforcing industry support as the company advances toward a full Feasibility Study at Diablillos expected later this year. [more]

We have written a 9-page Update Report on DATA Communications Management (DCM) after it announced preliminary fiscal 2024 financial results, with revenue expected between $478M and $480M, slightly below prior estimates. Adjusted EBITDA is projected at $62M to $64M, in line with expectations. The Company also introduced a dividend program, including a special dividend of $0.20 per share and a regular quarterly dividend of $0.025 per share. Revenue was impacted by project timing shifts, the exit from low-margin accounts, and the Canada Post strike, but cost efficiencies from the Moore Canada Corporation integration supported profitability. Final results will be released on March 12, 2025. [more]

At PDAC 2025, Fleet Space Technologies CEO Flavia Tata Nardini highlighted how AI, machine learning, and satellite technology could significantly accelerate and improve mineral exploration. Drawing parallels with space missions, she emphasized the importance of hiring data scientists and integrating cross-disciplinary datasets to stay competitive. With AI already helping reduce project timelines from months to days, she warned that mining companies risk being overtaken by tech firms if they fail to adapt. Fleet’s space-driven exploration technologies are also targeting lunar seismic mapping, further underscoring how Earth and space discoveries are increasingly interconnected. [more]