Mining

Lithium South (LISMF) extended its Share Purchase Agreement with POSCO Argentina S.A.U. to December 5, 2025, for the US$65 million sale of NRG Metals Argentina S.A., which holds the Hombre Muerto North lithium project and related claims. The delay is due to air travel disruptions and holidays. The sale provides POSCO access to key lithium resources, while Lithium South may explore other projects. The project is located in Argentina’s “Lithium Triangle.”

Almonty Industries Inc. (ALM) will acquire U.S. Tungsten Inc., granting exclusive rights to the Gentung Browns Lake Tungsten Project in Montana for $9.75 million. Production is anticipated by late 2026, benefiting from existing infrastructure in a historically significant tungsten district. Almonty also agreed to purchase a corporation holding key assets for the project for $250,000. The acquisition aligns with the U.S. strategic imperative to diversify its critical minerals supply, bolstering Almonty’s position as a global tungsten concentrate supplier.

THEMAC Resources Group’s (TSXV: MAC) application to transfer Santa Teresa water rights for the Copper Flat Mine was denied by the New Mexico State Engineer. Filed in 2019, the application sought to change the water diversion point and usage. THEMAC is now exploring alternative water management, including dry stack tailings technology. This more sustainable approach could eliminate the need for the contested water rights. The company is currently evaluating the implementation and permitting requirements for this technology.

Silvercorp Metals Inc. (SVM) has filed a base shelf prospectus allowing it to offer up to $400 million USD in securities (common/preferred shares, debt, etc.) over 25 months. While effective with Canadian and U.S. regulators, Silvercorp states there’s “no present intention” to immediately offer securities. This move provides financial flexibility for future opportunities, aligning with Silvercorp’s strategy of long-life mines, exploration, and potential M&A activity in a dynamic market. Future offerings would be detailed in prospectus supplements and depend on market conditions.

Bayhorse Silver (BHSIF) renewed its silver/copper concentrate Offtake Agreement with Ocean Partners, increasing the shipping volume to 400 tons. Bayhorse plans to process company and third-party material at its Payette, Idaho facility. Mining rate expansion to 200 tons/day is planned, utilizing ore-sorting technology for silver content upgrades. A new mineralized zone was discovered with high-grade silver assays, prompting the planning of a 65-foot decline. While promising, a feasibility study of mineral reserves is still needed for the production decision.

CleanTech Vanadium Mining (CTVFF) is expanding in the Illinois-Kentucky Fluorspar District (IKFD) with a binding option to purchase 970 acres for US$184,000. The properties abut historic mines and place CleanTech strategically within the prolific IKFD. This acquisition brings CleanTech’s total land holdings to over 8,150 acres in a region that once accounted for over 90% of US Fluorspar production. This move occurs amidst rising fluorspar prices.

Golden Lake Exploration (GOLXF) secured a C$50,000 convertible note with a 10% annual interest rate, maturing on December 31, 2025. The funds will ensure its Jewel Ridge claims remain active through payments to the U.S. Bureau of Land Management. The outstanding capital can be converted into common shares at $0.05 each, subject to a four-month hold. This financing aims to maintain the mining claims but introduces potential shareholder dilution.

Consensus Mining & Seigniorage Corp (CMSG) reported a Q2 2025 net income of $6.7M, a significant turnaround from Q2 2024’s $1.7M loss. Mining revenue reached $1.1M, boosted by Bitcoin, Litecoin and Dogecoin. CMSG’s crypto holdings totaled $36.9M. The company expanded mining capacity with Antminer L9 units, improving efficiency. CMSG maintains strong liquidity with $60.8M in cash. A shareholder call is scheduled for August 14, 2025. Book value per share increased to $43.59.