Markets

Northstar Clean Technologies has launched its first asphalt shingle reprocessing facility in Calgary and secured a five-year contract with the City to process discarded shingles. The Empower Calgary Facility will help divert waste from landfills by reprocessing up to 80,000 tonnes of shingles annually using its patented technology, recovering asphalt, aggregate, and fibre for reuse. The facility expects to reduce lifecycle CO₂ emissions by approximately 60%. This aligns with Alberta’s circular economy goals and positions Northstar as a leader in shingle recycling in North America.

Sego Resources (SGOZF) commenced drilling at its Miner Mountain project, targeting both near-surface gold and deeper copper-gold mineralization. The initial 1,000-meter program focuses on infill drilling at the South Gold Zone to upgrade its resource classification to NI 43-101 “possible.” Four holes will test an 80-meter gap in the zone, which has historical intercepts up to 1.08 g/t Au over 88 meters. Sego will also conduct non-cyanide leach testing and explore the deeper Cuba Zone for porphyry copper-gold potential.

Nouveau Monde Graphite (NMG) is progressing towards a final investment decision for its natural graphite production, targeting North American, European, and allied markets. The company has updated its Feasibility Study and focused on commercial partnerships, securing multi-year offtake agreements. Financing for the Matawinie Mine is advancing, with due diligence nearing completion. NMG is also developing its Bécancour Battery Material Plant and optimizing engineering. The company reported a period-end cash position of $61.7 million. Market perspectives highlight growing EV and energy storage demand.

Riverside Resources (RVSDF) completed Phase 1 drilling at its Union Project in Sonora, Mexico, with 12 holes totaling over 1,600 meters across six targets. Over 700 samples were sent for assay, targeting shallow CRD-style mineralization. Assay results are pending. Integration of these results with existing data will determine the scope of a potential Phase 2 drilling campaign planned for H1 2026. The project is funded by Questcorp under an option agreement.

UCLOUDLINK’s Q3 2025 results reveal a mixed performance. Revenue decreased by 16% to US$21.1 million, while net income significantly increased to US$9.3 million. User engagement showed positive growth, with DAU reaching 352,227 (+6.1% YoY) and MAU reaching 761,586 (+11.9% YoY). Total data consumption rose to 49,044 TB (+9.0% YoY). The company reaffirmed its FY2025 revenue guidance of US$81.3M-US$85.8M, and projected Q4 2025 revenue of US$22.0M–US$26.5M. Adjusted net income and EBITDA declined.

Flex LNG reported Q3 2025 vessel operating revenues of $85.7 million and net income of $16.8 million, with a TCE rate of $70,921 per day. The company completed drydocking for two vessels, secured a $180 million term loan, and finalized a sale and leaseback agreement. Flex LNG declared a $0.75 per share dividend, marking the seventeenth consecutive quarter. Despite near-term market softness, strong financial maneuvering, including refinancing initiatives generating $530 million, and a solid balance sheet position Flex LNG well for long-term LNG demand growth.

PyroGenesis reported Q3 2025 revenue of $3.25M, down 18.7% YoY, with a 24% gross margin. Net loss was $2.25M, and modified EBITDA loss was $1.89M. Backlog stands at $51.6M (81% USD). Key wins include a Constellium contract, a $1.2M cement sector deal, and a titanium powder order. Fumed silica pilot results showed improved surface area (136 m²/g) and 0% carbon. Post-quarter, >$5M was raised, including CEO participation. The company is focused on innovation and a strong finish to 2025.

Copart, Inc. (CPRT) will release its first-quarter fiscal 2026 earnings on November 20, 2025, after market close. A conference call will follow at 5:30 p.m. ET, accessible via webcast at www.copart.com/investorrelations. The release and call are expected to offer insights into Copart’s financial performance and strategic initiatives in the online vehicle auction marketplace. Copart, founded in 1982, connects sellers with a global network of buyers and processes over 4 million vehicles annually via its technology platform across 250 locations in 11 countries.

Group 1 Automotive (NYSE: GPI) announced a $500 million share repurchase authorization, increasing the existing program by $457 million. Year-to-date, the company repurchased approximately 8% of outstanding shares at an average of $417.38. Future repurchases will be opportunistic, funded by operating cash flow. The board also declared a $0.50 quarterly dividend, consistent with the previously announced 6% increase. Group 1 is a Fortune 250 automotive retailer operating 259 dealerships in the U.S. and U.K.

Matson, Inc. (MATX) announced CFO Joel Wine will present at the Stephens 2025 Annual Investment Conference on November 18, 2025, providing a corporate overview and Q&A. Presentation slides will be available on Matson’s investor relations website on the same day. Founded in 1882, Matson is a key transportation and logistics provider, serving Hawaii, Alaska, Guam, Micronesia, and operating premium China-Long Beach services. Maintaining a modern fleet and adapting to market changes, including environmental regulations, are crucial for future growth. Matson Logistics offers asset-light services across North America and Asia.