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Andy Schectman: Silver Price Breaking Out, Room to Run by Every Metric

Investing 1 Min Read

Andy Schectman, president of Miles Franklin, breaks down recent silver market dynamics, including the massive rise in entities standing for delivery of physical metal, increased CME Group (NASDAQ:CME) margin requirements and China’s silver export controls.

‘We’re beginning to see at the highest level a change of mentality, a change of perception of what these metals truly are,’ he said in the interview.

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

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CoTec to Host Investor Update

Investing 3 Mins Read

VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / January 14, 2026 / CoTec Holdings Corp. (TSX-V:CTH)(OTCQB:CTHCF) (‘CoTec’ or the ‘Company’) is pleased to announce that the Company’s CEO, Julian Treger, will host an investor update on Friday, January 16, 2026, at 8:00 a.m. PST / 11:00 a.m. EST.

The update will highlight recent platform and strategic developments across the CoTec portfolio. Management will provide a high-level update on progress at MagIron, a CoTec investment advancing a U.S.-based iron ore and metallics strategy, as well as HyProMag USA, and discuss other key initiatives currently being advanced by the Company. The presentation will also include management’s outlook for 2026, outlining priorities, upcoming milestones, and areas of focus for the year ahead. A Q&A session will follow the presentation.

Investors who wish to attend the presentation may do so by clicking here to register.

Should the above link not work, please copy and paste the following link to your web browser: https://us06web.zoom.us/webinar/register/WN_0NBXb4IIRXOVP0d2l7j5Vg#/registration

About CoTec

CoTec Holdings Corp. (TSX-V:CTH)(OTCQB:CTHCF) is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, CoTec integrates breakthrough technologies with strategic assets to unlock secure, sustainable, and low-cost supply chains for the United States and its allies.

CoTec’s mission is clear: accelerate the energy transition while strengthening U.S. economic and national security. By investing in and deploying disruptive technologies, the Company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams, and recycled products into high-value critical minerals.

From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Québec, to next-generation copper and iron solutions backed by global majors, CoTec is building a diversified portfolio with long-term growth, rapid cash flow potential, and high barriers to entry. The result is a differentiated platform at the intersection of technology, sustainability, and strategic materials.

For more information, please visit www.cotec.ca

For further information, please contact:
Eugene Hercun, VP Finance, +1 604 537 2413

Forward-Looking Information Cautionary Statement

Statements in this press release regarding the Company and its investments which are not historical facts are ‘forward-looking statements’ that involve risks and uncertainties, including statements relating to management’s expectations with respect to its current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. For further details regarding risks and uncertainties facing the Company, please refer to ‘Risk Factors’ in the Company’s filing statement dated April 6, 2022, a copy of which may be found under the Company’s SEDAR+ profile at www.sedarplus.ca

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

SOURCE: CoTec Holdings Corp.

View the original press release on ACCESS Newswire

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Iron Ore Price Forecast: Top Trends for Iron Ore in 2026

Investing 7 Mins Read

Iron ore prices have strengthened since bottoming out in September 2024, but the base metal faced headwinds in 2025 as tariff threats and investor uncertainty weighed on the market.

Usage in steel makes iron ore one of the most widely used and essential materials in the world, and as a result its fortune is highly dependent on the strength of the construction and manufacturing sectors.

Iron ore has also seen increased demand from electric vehicle (EV) batteries over the last several years.

Among all countries, China leads the world in steel production, but lacks domestic supply to meet demand; it is also the world’s largest importer of base metals. As one of the biggest manufacturing bases and a significant source of demand for construction and EV production, China exerts considerable influence on iron ore prices.

Additionally, as 2026 begins, the definitive period for the EU’s Carbon Border Adjustment Mechanism (CBAM) is starting — it will apply levies to high-carbon imports such as steel.

How did iron ore prices perform in 2025?

Iron ore started 2025 at US$99.44 per metric ton (MT) on January 6, then hit US$107.26 on February 12.

The start of March saw a steep decline for prices as they retreated toward the US$100 mark, then climbed back to US$104.25 on April 2; a rout in the base metals market saw prices fall to US$99.05 on April 9.

While other metals recovered, iron ore continued to track lower, reaching US$97.41 on May 5 and ultimately sinking to a yearly low of US$93.41 on July 1. During the third quarter, iron ore prices gained momentum, rising above the US$100 mark in August and reaching a quarterly high of US$106.08 on September 8.

Prices were largely rangebound in Q4, dropping below US$104 only once on November 7, then recovering to post a yearly high of US$107.88 on December 4. Prices had retreated to US$106.13 by December 5.

Key iron ore price drivers in 2025

All in all, prices for iron ore didn’t fare too badly in 2025.

The biggest factor affecting growth was a significant fall-off during the first half of the year as pressures mounted from a continuing slump in the Chinese property sector and the threat of US tariffs.

The Chinese real estate sector has been in steep decline since 2021, when two of the nation’s top developers — Country Garden and Evergrande — declared bankruptcy after incurring hundreds of billions of dollars in debt. Since then, the government has introduced various stimulus measures, but has failed to turn the sector around.

As mentioned, because of the sheer size of the property market in China, it is a significant demand driver for steel products and has an outsized influence on the global iron ore market.

Another noteworthy headwind for iron ore price levels this past year was the threat of US tariffs. In early April, US President Donald Trump announced his “Liberation Day” tariffs, which applied a 10 percent levy across the board, and threatened retaliatory tariffs to close trade deficits with most countries.

The move sparked fears of a global recession and triggered a rout in equities and commodities markets, sending prices plunging. However, most markets rebounded quickly as plans were dialed back after a squeeze in the bond market that sent 10 year treasury yields up by more than half a percentage point.

Further iron ore price pressures came later in the year, when the massive Simandou mine in Guinea shipped its first iron ore, destined for smelters in China, on December 2.

Two consortia of companies own the mine. Blocks three and four have a 45/40/15 ownership split between Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), Chinalco and the Guinea government, and blocks one and two have a 45/35/20 split between Winning International, China Hongquiao Group (HKEX:1378,OTCPL:CHHQF) and United Mining Supply.

The mine will ramp up production over the next 30 months, and is expected to produce 15 million to 20 million MT in 2026 and 40 million to 50 million MT in 2027.

What trends will move the iron ore market in 2026?

“Construction accounts for about 50 percent of steel consumption in terms of end users. The weakness of the property market has, of course, weighed on steel demand and therefore pig iron production. However, the driver for China’s steel production has been industrialisation and urbanisation during the past two decades,” he said.

Sardain went on to state that despite a shift in focus from fixed assets to manufacturing, services and technology, overall steel demand is set to move lower. Although the decline won’t last forever and the property market will stabilize, the effect of even a mild rebound on steel production will be limited:

“However, steel production and iron ore demand have been supported by strong exports in markets such as Southeast Asia, East Asia, the Middle East, Latin America and Africa, mitigating the impact of a lower domestic steel demand. Whether steel exports can increase from their current level is debatable, and we forecast a lower steel production in China over time.’

On the tariff front, US levies aren’t likely to have much impact. Sardain pointed out that while US steel demand exceeds its production capacity, Chinese imports remain a minimal factor.

Meanwhile, the US is primarily producing steel in lower-carbon electric arc furnaces from ferrous scrap.

Although steel tariffs from Canada and Brazil are set at 25 and 50 percent, respectively, both countries have exemptions for iron ore pellets, and Canadian ferrous scrap is covered under CUSMA provisions.

But with the trade pact set to be renegotiated in 2026, it’s uncertain what it means for steel and, by extension, iron products, in the midterm. The best-case scenario is that Canadian steel will receive an exemption.

Still, the risk remains that current CUSMA blanket exemptions will be removed, allowing the US to apply additional tariffs on Canadian goods crossing the border. Likewise, in Europe, the CBAM came into effect on January 1, 2026.

While the impact may take some time to work through the market, it will still have downstream effects for producers that want to avoid tariffs on imported products. This may be one reason Chinese steel producers are switching from higher-carbon blast furnaces to electric arc furnaces in the smelting process.

“Currently, electric arc furnaces account for about 12 percent of China’s steel production, set to increase to 18 percent by the first part of the next decade,” Sardain said, noting that China is looking to cap its emissions by 2030.

The main challenge for iron ore is waning demand, as the primary input for electric arc furnaces is scrap steel, not raw iron. “Countries which will see their steel production increasing (primarily India, but to some extent Russia, Brazil or Iran) are not iron ore importers because they are self-sufficient. Steel production in the EU is flat to lower with more production coming from electric arc furnaces as part of the decarbonisation process,” Sardain said.

Soft demand growth, however, is expected to meet increasing mine supply, further dragging on prices in 2026.

Sardain suggested that all major iron ore miners will increase their production in 2026, with the largest boost coming from Guinea’s Simandou, which could shake up supply chains.

“The blocks one and two are owned by a Chinese-Singaporean consortium. It will provide China with the opportunity to diversify its supply from the major Australian producers (something that the country tried to do for the past 15 years unsuccessfully) and it will shift the supply-demand momentum in favour of China,” he said.

Additionally, the mine is important because of its 65 percent iron content.

Iron ore price forecast for 2026

Sardain expects iron ore prices to remain muted in 2026.

“We believe that price should drop below the US$100 per MT mark, although it could stay above this level in H1 due to seasonality … so, overall, prices staying between US$100 to US$105 per MT in H1, then declining below US$100 per MT in H2, with the ramp-up of the Simandou mine being a determining factor,” he said.

This is largely in line with estimates from other firms. BMI is predicting a 2026 price of US$95, while RBC Capital Markets sees iron ore averaging US$98; the overall consensus stands at US$94.

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

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Cobalt Market 2025 Year-End Review

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The cobalt market entered 2025 under pressure from a prolonged supply glut, but the balance shifted sharply as the year unfolded, due almost entirely to intervention from the Democratic Republic of Congo (DRC).

After starting the year near nine year lows of US$24,343.40 per metric ton, cobalt metal prices had risen to US$53,005 by the end of December, pushed upward by supply concerns stemming from export limits in the DRC.

“The cobalt market in 2025 was characterised by a significant price recovery following the DRC banning the export of all cobalt from its borders in February,” said Aubry. “By the end of 2025, sulphate prices increased 266 percent, hydroxide increased by 328 percent and metal prices by 130 percent year-to-date.”

Q1: Cobalt moves from glut to supply shock

As mentioned, cobalt metal prices hit their weakest level since 2016 in January. Global mine output had more than doubled over five years, far outpacing demand growth from electric vehicles and other end uses.

That dynamic changed abruptly in late February, when the DRC — which supplies roughly three-quarters of the world’s cobalt — imposed a four month suspension on cobalt hydroxide exports.

The news lifted cobalt from US$24,495 at the start of the year to above US$34,000 by the end of March, with intra-month highs nearing US$36,300. The move marked the sector’s first meaningful rebound in nearly two years.

As the DRC exhibited control over cobalt supply, the market began to look to the world’s second largest cobalt-producing nation: Indonesia. Indonesia’s cobalt output is largely a by-product of its laterite nickel industry, produced through high-pressure acid leaching (HPAL) plants that process nickel-rich ores.

These facilities generate mixed hydroxide precipitate (MHP), an intermediate containing both nickel and cobalt that can be further refined into battery-grade materials. The model has enabled Indonesia to rapidly scale its cobalt supply, leveraging its dominant nickel position and integrated processing infrastructure.

Indonesia produced about 31,000 metric tons of cobalt in 2024 — roughly 10 percent of global supply — cementing its position as the world’s second largest producer behind the DRC.

Output growth is being driven by HPAL projects targeting up to 500,000 tons per annum (tpa) of mixed hydroxide precipitate, potentially yielding 50,000 tpa of cobalt, though scaling up may prove challenging.

Indonesian MHP, a lower-cost intermediate that is rich in nickel and cobalt, is increasingly viewed by Chinese refiners as a substitute for DRC-sourced cobalt hydroxide.

Q2 and Q3: A fragile equilibrium forms

The DRC’s export ban continued to underpin prices through the second quarter.

Standard-grade cobalt metal was trading near US$15 to US$16 per pound at the time, while cobalt sulfate posted even sharper gains. Despite the rally, sentiment remained cautious. Chinese refiners drew on existing inventories, and trade data showed cobalt units still flowing into China, particularly from Indonesia.

By June, prices had begun to ease as uncertainty mounted over how long the DRC would maintain controls.

Although China imported significant volumes earlier in the year, analysts warned Indonesian supply would be insufficient to fully offset reduced DRC cobalt shipments. Later that month, the DRC extended its export restrictions through September, reinforcing expectations that the market would move toward balance.

By mid-year, Chinese import data confirmed the impact — cobalt hydroxide inflows had fallen sharply, with analysts projecting constrained refinery feed into late 2025 or early 2026.

Prices stabilized in a broad US$33,000 to US$37,000 range through Q3, supported by tightening supply and diminishing inventories. Market participants increasingly viewed the DRC’s actions as a structural shift rather than a temporary correction, signaling the end of the cobalt surplus that had defined the previous two years.

By late 2025, the cobalt market had transformed from one of chronic oversupply to one approaching equilibrium — a reset driven not by demand growth, but by decisive supply-side intervention.

Q4: Cobalt quotas replace DRC ban, prices climb

After months of supply disruption, the DRC lifted its full cobalt export ban in mid-October, replacing it with a rigid quota system that will shape the market through 2026.

Under the new framework, annual DRC exports are capped at about 96,600 metric tons, roughly half of 2024 levels, with just 18,125 metric tons scheduled for shipment in Q4 2025.

This structural tightening helped sustain elevated prices that surged above US$47,000 by late October, levels not seen since early 2023, amid persistent feedstock shortages and constrained exports.

DRC quotas have provided a degree of market clarity, with major producers like CMOC Group (OTCPL:CMCLF) receiving significant allocations that underpin production plans. Despite robust output guidance, inventories outside the DRC remain tight, and market participants see continued upward price pressure as the quota system curtails supply.

“The DRC’s quota system is set to squeeze supply in the next two years — unless the country revises quotas higher,” wrote Fastmarkets’ Oliver Masson in a December market update.

“Prices are already considerably higher than they were at the beginning of the year, and they are likely to remain elevated for as long as current quota levels remain in force,’ he said. ‘Cobalt is mostly used in batteries, and the longer prices remain elevated, the more likely it is that EV manufacturers will seek to move to low-cobalt or cobalt-free chemistries where feasible. This could slow demand in the medium term.”

Cobalt price forecast for 2026

Looking ahead to 2026, analysts see the cobalt market shifting into a deficit as export caps bite and global feedstock availability shrinks. Fastmarkets projects a structural shortfall of about 10,700 metric tons against demand near 292,300 metric tons, driven by DRC quota limits and ongoing drawdowns of stocks.

Industry forecasters also anticipate that reduced shipments, combined with a stubbornly tight pipeline, will support stronger average prices next year. Some forecasts suggest cobalt could average near US$55,000 in 2026 as export quotas supplant the 2025 ban. Indonesian supply is emerging as a secondary source, with production climbing, but most analysts agree it will be insufficient to offset DRC constraints in the near term.

After a year of dramatic swings driven by supply policy in the DRC, 2026 is shaping up as the first sustained deficit environment in the cobalt market, with prices expected to remain elevated amid structural tightening.

“Prices have substantially recovered over 2025 and are expected to remain elevated in 2026 as the DRC limits exports,” said Aubry. “There is a significant potential upside risk as dwindling ex-DRC stocks present the risk of demand destruction towards the end of the year.”

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

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Sankamap Provides Update on Late Filing of Financial Statements and Extension of MCTO

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Sankamap Metals Inc. (CSE: SCU) (‘Sankamap’ or the ‘Company’) the Company and its auditor continue to work diligently toward the completion and filing of the Company’s annual audited financial statements and management’s discussion and analysis for the fiscal year ended June 30, 2025 (the ‘Required Filings’). The Company has obtained approval from the Alberta Securities Commission to extend the Management Cease Trade Order (‘MCTO’) under National Policy 12-203 Management Cease Trade Orders (‘NP 12-203’) until January 31, 2026. Sankamap confirms that it has received the crucial confirmations from the Solomon Islands government, and that the majority of the audit work has now been completed, with only a limited number of minor confirmations and outstanding items remaining. The Company is actively working to provide the remaining items and is contacting any parties from whom confirmations are still outstanding. Subject to the completion of these remaining items, the audit file is expected to enter the final stages of review and be nearing completion.

The Required Filings were due to be filed by October 28, 2025. In connection with the anticipated delays in making the Required Filings, the Company made an application for a MCTO under NP 12-203 to the Alberta Securities Commission, as principal regulator for the Company, and the MCTO was issued on October 29, 2025. The MCTO restricts all trading by the Company’s CEO and CFO in securities of the Company, whether direct or indirect. The MCTO does not affect the ability of persons who are not directors, officers or insiders of the Company to trade their securities. The MCTO will remain in effect until the Required Filings are filed or until it is revoked or varied.

The Company expects to proceed with the filing of its interim first-quarter financial statements shortly after the Required Filings have been completed and submitted.

The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 by issuing bi-weekly default status reports in the form of a news release until it meets the Required Filings requirement. The Company has not taken any steps towards any insolvency proceeding and the Company has no material information relating to its affairs that has not been generally disclosed.

For further information with respect to the MCTO, please refer to the Company’s news releases dated October 21, 2025, November 4, 2025, November 18, 2025, December 3, 2025, December 17, 2025 and December 30, 2025, available for viewing on the Company’s SEDAR+ profile at www.sedarplus.ca.

About Sankamap Metals Inc.

Sankamap Metals Inc. (CSE: SCU) is a Canadian mineral exploration company dedicated to the discovery and development of high-grade copper and gold deposits through its flagship Oceania Project, located in the South Pacific. The Company’s fully permitted assets are strategically positioned in the Solomon Islands, along a prolific geological trend that hosts major copper-gold deposits; including Newcrest’s Lihir Mine, with a resource of 71.9 million ounces of gold¹ (310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred).

Exploration is actively advancing at both the Kuma and Fauro properties, part of Sankamap’s Oceania Project in the Solomon Islands. Historical work has already highlighted the mineral potential of both sites, which lie along a highly prospective copper and gold-bearing trend, suggesting the possibility of further, yet-to-be-discovered deposits.

At Kuma, the property is believed to host an underexplored and largely untested porphyry copper-gold (Cu-Au) system. Historical rock chip sampling has returned consistently elevated gold values above 0.5 g/t Au, including a standout sample assaying 11.7% Cu and 13.5 g/t Au2; underscoring the area’s significant potential.

At Fauro, particularly at the Meriguna Target, historical trenching has returned highly encouraging results, including 8.0 meters at 27.95 g/t Au and 14.0 meters at 8.94 g/t Au3. Complementing these results are exceptional grab sample assays, including historical values of up to 173 g/t Au3, along with recent sampling by Sankamap at the Kiovakase Target, which returned numerous high-grade copper values, reaching up to 4.09% Cu. In addition, limited historical shallow drilling intersected 35.0 meters at 2.08 g/t Au3, further underscoring the property’s strong mineral potential and the merit for continued exploration. With a commitment to systematic exploration and a team of experienced professionals, Sankamap aims to unlock the untapped potential of underexplored regions and create substantial value for its shareholders. For more information, please refer to SEDAR+ (www.sedarplus.ca), under Sankamap’s profile.

1.Newcrest Technical Report, 2020 (Lihir: 310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred)

2. Historical grab, soil and BLEG samples from SolGold Kuma Review June 2015, and SolGold plc Annual Report 2013/2012

3. September 2010-June 2012 press releases from Solomon Gold Ltd. and SolGold Fauro Island Summary Technical Info 2012

QP Disclosure

The technical content for the Oceania Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person in accordance with CIM guidelines. Mr. John Florek is in good standing with the Professional Geoscientists of Ontario (Member ID:1228) and a director and officer of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ ‘John Florek’
John Florek, M.Sc., P.Geol
Chief Executive Officer
Sankamap Metals Inc.

Contact:
John Florek, CEO
T: (807) 228-3531
E: johnf@sankamap.com

The Canadian Securities Exchange has not approved nor disapproved this press release.

Forward-Looking Statements

Certain statements made and information contained herein may constitute ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to Sankamap and there is no assurance that the actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as ‘anticipates,’ ‘believes,’ ‘targets,’ ‘estimates,’ ‘plans,’ ‘expects,’ ‘may,’ ‘will,’ ‘could’ or ‘would.’

This press release contains forward-looking statements, including, but not limited to, statements regarding management’s expectations about obtaining the MCTO and completing the Required Filings within the anticipated timeline. Forward-looking statements are subject to various risks, uncertainties, and other factors that could cause actual results or events to differ materially from those expressed or implied by such statements. Sankamap does not undertake any obligation to update forward-looking statements or information, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedarplus.ca .

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280320

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10 Biggest Cannabis Stocks in the US and Canada in 2026

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After a year of stop‑start policy signals, the US cannabis market ended 2025 with a new wave of attention as US President Donald Trump moved to accelerate federal cannabis rescheduling efforts.

His December executive order directing the attorney general to complete the process of shifting marijuana from Schedule I to Schedule III has energized the sector. At the same time, companies are reshaping product portfolios around changing consumer behavior, with rapid growth in edibles and rising interest in cannabis‑infused beverages as smoke‑free formats gain traction.

With policy catalysts still unfolding and demand trends evolving, many investors are revisiting the space. For those looking to get exposure, starting with the key US and Canadian names held by major cannabis exchange‑traded funds (ETFs) offers a practical way to focus on the largest, most established public operators.

This list of the biggest publicly traded cannabis companies was put together based on the top-weighted cannabis stocks included in the AdvisorShares Pure US Cannabis ETF (ARCA:MSOS) and the Global X Marijuana Life Sciences Index ETF (TSX: HMMJ) as of January 2, 2026. Share price information for the companies was accurate as of that time.

US cannabis market

Cannabis is federally illegal in the US, but state market openings have allowed some operators to thrive. Typically these firms set up vertically integrated businesses with a focus on branded products, retail networks and licenses.

While these companies have adapted to regulatory challenges, they have much to gain from country-level reform in the US, and are eager to see more welcoming federal laws that will allow their businesses to develop further.

Top cannabis stocks in the AdvisorShares Pure US Cannabis ETF

The AdvisorShares Pure US Cannabis ETF provides exposure to public companies exclusively operating within the US cannabis industry. By investing in companies that are working in states with clear guidelines, MSOS gives investors a way to be more selective about the types of cannabis companies they’re investing in.

1. Trulieve Cannabis (CSE:TRUL,OTCQX:TCNNF)

ETF weight: 24.53 percent
Market cap: C$2.28 billion
Share price: C$11.91

Trulieve is a major player in the cannabis industry, with a strong focus on medical cannabis. The company offers a diverse selection of cannabis products, including flower, pre-rolls, concentrates, edibles, topicals and more.

Vertically integrated, Trulieve Cannabis has over 200 dispensaries across the US. It holds a dominant market share in its home state of Florida, and also has a significant presence in Arizona and Pennsylvania.

2. Curaleaf Holdings (CSE:CURA)

ETF weight: 22.25 percent
Market cap: C$2.76 billion
Share price: C$3.58

Cureleaf Holdings also has a significant presence in the US cannabis market, with 158 dispensaries and several cultivation centers across 17 states. The company is also continuing its expansion into the European cannabis sector, with a July 2025 buyout of its minority partner for full control and a partnership with Australia Natural Therapeutics Group to supply medical cannabis to the UK.

Curaleaf has a wide range of brands covering a variety of cannabis product types, including flower, vapes, edibles and hemp-derived THC beverages.

3. Green Thumb Industries (CSE:GTII,OTCQX:GTBIF)

ETF weight: 20.93 percent
Market cap: C$2.57 billion
Share price: C$11.10

Green Thumb Industries is a multi-state operator (MSO) with headquarters in Chicago, Illinois. The company is involved in the entire process of the industry, from cultivating and producing cannabis products to selling them in its own retail stores across the US.

Green Thumb Industries produces and distributes a portfolio of well-known cannabis brands like Rythm, Beboe, Dogwalkers, Incredibles and Doctor Solomon’s.

The company previously owned the intellectual property for these brands. However, following a 2025 strategic transaction, Green Thumb now manufactures them under a long-term licensing agreement with RYTHM (NASDAQ:RYM), which changed its name from Agrify following the deal.

4. Cresco Labs (CSE:CL,OTCQX:CRLBF)

ETF weight: 7.01 percent
Market cap: C$774.16 million
Share price: C$1.74

Cresco Labs is a vertically integrated multi-state cannabis operator in the US. Founded in 2013, it is known for its strong brands like Cresco, High Supply and Good News.

Cresco Labs controls its supply chain from cultivation to retail, offering a wide range of products. While it has its own stores, it focuses heavily on wholesale, getting its products into dispensaries across the country.

5. Glass House Brands (CBOE:GLAS.A.U,OTC:GLASF)

ETF weight: 6.79 percent
Market cap: C$481.48 million
Share price: C$8.97

Glass House Brands is a vertically integrated cannabis company focused on the California market and founded in 2015. The company emphasizes sustainable, low-cost production. Glass House controls its products’ full supply chain, cultivating cannabis in large facilities such as its flagship 5.5 million square foot site in Southern California.

Following a federal immigration raid in July 2025 that significantly disrupted operations and impacted Q3 revenue, Glass House says it has overhauled its labor model and expects to reach full production capacity in Q1 2026.

Canadian cannabis market

In 2018, Canada became the first G7 nation to legalize adult-use cannabis and create its own streamlined program regulated by both federal and provincial powers. Since then, companies working in the country have faced ups and downs in dealing with tight marketing rules, high tax rates and ongoing competition with the unregulated market.

Top cannabis stocks in the Global X Marijuana Life Sciences Index ETF

The Global X Marijuana Life Sciences Index ETF was the first cannabis ETF available in Canada, and it holds a variety of publicly traded companies involved in cannabis, along with several non-flower companies.

While HMMJ does not invest in US-based multi-state operators, it does have exposure to the US market through Canadian companies that have interests in the US cannabis industry. Overall, HMMJ is designed to give investors broad exposure to the cannabis industry, with a particular focus on North American companies.

1. Jazz Pharmaceuticals (NASDAQ:JAZZ)

ETF weight: 10.75 percent
Market cap: US$8.3 billion
Share price: US$136.90

Jazz Pharmaceuticals is a global biopharmaceutical company focused on developing and commercializing medicines for people with serious diseases, often with limited or no other options. It has a diverse portfolio of products in areas like sleep disorders, cancer and epilepsy.

Jazz Pharmaceuticals’ cannabis business stems from its 2021 acquisition of GW Pharmaceuticals and its epilepsy medicine Epidiolex for a whopping US$7.2 billion.

At the American Epilepsy Society 2025 meeting in December, Jazz presented four abstracts on Epidiolex’s non-seizure outcomes and real-world effectiveness in treating rare forms of epilepsies like Dravet syndrome, Lennox-Gastaut syndrome and tuberous sclerosis complex associated epilepsy.

2. Innovative Industrial Properties (NYSE:IIPR)

ETF weight: 10.06 percent
Market cap: US$1.5 billion
Share price: US$24.56

Innovative Industrial Properties is a real estate investment trust that provides specialized real estate opportunities for cannabis companies in 19 states. Its properties mostly consist of processing plants, greenhouses and warehouses, with retail spaces making up a small percentage of its portfolio.

The firm has provided long-term absolute net lease agreements to some of the cannabis industry’s biggest names, including Green Thumb, TILT Holdings (NEO:TILT,OTCQB:TLLTF), Ascend Wellness (CSE:AAWH.U,OTCQX:AAWH) and Curaleaf. The company’s sale-leaseback program has helped cannabis companies access a source of capital, a much-needed workaround in the US where there are fewer traditional financing options.

3. Cronos Group (NASDAQ:CRON,TSX:CRON)

ETF weight: 9.84 percent
Market cap: US$1.02 billion
Share price: US$2.66

Cronos Group is the Canada-based company behind the Spinach, Peace Naturals and Lord Jones cannabis brands. Founded in 2012, its portfolio spans a wide range of affordable products. In Canada, Cronos’ Spinach brand is in the top three for retail sales in the flower and edible categories.

The company also has a presence in Israel and Germany with its brand Peace Naturals. In late 2023, the company re-entered the German medical cannabis market through its partnership with a German medical cannabis company called Cansativa Group. Cronos serves the Israeli market through its subsidiary Cronos Israel.

4. Tilray Brands (NASDAQ:TLRY)

ETF weight: 9.56 percent
Market cap: US$1.84 billion
Share price: US$1.66

Tilray Brands is a pharmaceutical cannabis company headquartered in New York City, with operations spanning Canada, Australia, New Zealand, Latin America, Germany and Portugal. Established in 2013, it was among Canada’s first licensed cannabis producers and has evolved into a global leader in medical and recreational cannabis products. Some of its cannabis brands include Good Supply, Broken Coast and Soleil.

The company operates through several segments, including cannabis cultivation and distribution, and it also owns multiple craft breweries. In 2023, it acquired eight beverage brands and breweries from Anheuser-Busch for US$85 million, expanding into cannabis-infused beverages alongside traditional craft beer.

Recent highlights include a 1:10 reverse stock split in November 2025 and premium vape launches under its Redecan brand.

5. SNDL (NASDAQ:SNDL)

ETF weight: 9.36 percent
Market cap: US$653.8 million
Share price: US$2.54

SNDL, formerly known as Sundial Growers, is the largest private-sector liquor and cannabis retailer on the Canadian market. It cultivates and sells cannabis products under various brands, including Top Leaf, Palmetto, Versus, No Future and more. It focuses on premium indoor cultivation and have a strong presence in the Canadian market.

SNDL has faced financial challenges in the past, but in Q3, the company’s cannabis business revenue grew year-on-year for the 15th consecutive quarter. The company has continued to make strategic investments in 2025, including a deal to acquire 32 cannabis retail stores in two stages.

FAQs for investing in cannabis

Are cannabis stocks worth investing in?

Each investor will have to think and act for themselves to manage their own risk exposure, but it’s no secret that cannabis stocks have taken a beating for some time now. While financial experts point to the long-term upside of US operators as more state markets expand, the stock market has not been kind to these names lately.

Are cannabis stocks considered a high- or low-risk investment?

Cannabis investments are extremely young in the grand scheme of the investment universe. There is an exciting and refreshing element to these stocks, but the market has always been characterized by volatility and unpredictability.

While wild, spontaneous swings in the open market have become less common, cannabis stocks are often moved — both positively and negatively — by big pieces of market news or legalization updates.

Why do people buy cannabis stocks?

Investors may choose to get exposure to the cannabis market as a way to participate in the development of a new drug market with consumer packaged goods capabilities. Some participants are bullish on the industry’s long-term outlook and expect more welcoming laws in the US and across the world to provide upward momentum.

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

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Rare Earths Market Forecast: Top Trends for Rare Earths in 2026

Investing 9 Mins Read

Aided by rising demand for permanent magnets, the rare earths market entered 2025 on firmer footing, with prices and investor sentiment trending higher.

That early optimism, however, was quickly overtaken by mounting geopolitical risk as US-China trade tensions returned rare earths to the center of global supply chain concerns.

Through the first quarter, uncertainty around tariffs and the prospect of tighter Chinese controls weighed heavily on downstream industries and reinforced the strategic value of rare earths.

That risk crystallized in early April, when China issued Announcement 18, a sweeping export control regime covering a range of medium and heavy rare earths — including terbium, dysprosium, samarium and yttrium — as well as related oxides, alloys, compounds and permanent magnet technologies.

Framed by Beijing as a national security and nonproliferation measure, the policy added a new layer of regulatory friction to supply chains underpinning electric vehicles, defense systems, clean energy and advanced manufacturing.

The response was swift. In Washington, the Trump administration moved to reassess US critical minerals security, singling out rare earths as a strategic vulnerability.

“An overreliance on foreign critical minerals and their derivative products could jeopardize US defense capabilities, infrastructure development, and technological innovation,” the White House said, underscoring a shift from market-driven concern to national security imperative.

For Jon Hykawy, president and chief executive at Stormcrow Capital, the Trump administration’s rare earths ambitions and its understanding of the minerals markets was the most impactful trend of 2025, commenting, “By far the biggest impact was the implication from re-elected US President Donald Trump that rare earths and other critical materials, to be found in Ukraine or Greenland or Canada or wherever, are the most bigly important things, ever.’

The seasoned market analyst also questions the administration’s broader goals.

“Critical materials are, to me, what is necessary for ensuring that important projects can be completed,’ he said.

‘But President Trump has also decided that climate change is a scam, that electrified vehicles and wind power are terrible and coal and oil are where it’s at,’ Hykawy continued.

‘In that case, whether or not Trump has even the concept of a plan regarding what a rare earth actually is, and he isn’t using ‘rare earth’ as a catch-all phrase for ‘weird metal that I don’t know how to spell,’ then rare earths or lithium are not critical materials, as far as the USA should be concerned: if you don’t need ‘em, they ain’t critical.”

China’s rare earths chokehold exposes supply chain fault lines

By mid-year, the impact of China’s controls was being felt most acutely in the automotive sector. European suppliers warned of production shutdowns as licensing delays rippled through tightly integrated supply chains.

The Asian nation controls roughly 70 percent of global rare earths mine output, as well as 85 percent of refining capacity and about 90 percent of magnet manufacturing.

That concentration left markets highly exposed when Beijing escalated restrictions again in October, expanding export controls to cover a total of 12 rare earths and associated permanent magnets.

Although some measures were later paused through November 2026, earlier dual-use restrictions stayed in place, reinforcing the perception that rare earths are now a tool of geopolitical leverage.

“At its core, China has shown a greater willingness to use its dominance in critical minerals to advance its trade and geopolitical influence, potentially causing significant disruptions to global supply chains for industries like automotive, aerospace, defense, and electronics,” states a S&P Global Energy report.

Against that backdrop, efforts to diversify supply accelerated.

In the US, government support moved from rhetoric to capital. The Department of Defense committed US$400 million to MP Materials (NYSE:MP) to expand processing at Mountain Pass and build a second domestic magnet plant, securing a US-based source of permanent magnets for defense applications.

Days later, Apple (NASDAQ:AAPL) announced a US$500 million agreement with MP to supply recycled rare earth magnets for hundreds of millions of devices starting in 2027, tying supply chain security to sustainability.

As Hykawy explained, these developments are setting the stage for ex-China supply:

“We are at the beginning of producing, processing and utilizing rare earths in a supply chain entirely outside of China. There is absolutely nothing that prevents us from building that western supply chain except time and money. Rare earth deposits of all types, including ionic clays and their relatively inexpensive production of heavy rare earths, are readily available outside of China.”

He went on to note that there has been a misconception about the impacts of rare earths production, paired with a lack of investment and expertise that has prevented a faster buildout.

“It’s a media cliché that rare earth mining and processing is somehow much more destructive to the environment than other types of mining, but that’s also just plain wrong,” Hykawy added.

“Unfortunately, building that supply chain will take money and, especially, time, because we need the people who know how to do all of this, and there is no substitute for the time required to give them their required experience.”

Rare earths supply security and growing demand

As global demand for rare earths accelerates and supply chain risks heighten, experts believe the sector’s importance on the global stage will keep intensifying.

During a Benchmark Week presentation, Michael Finch of Benchmark Mineral Intelligence explained that rare earths have “become far more strategic in nature” over recent years, with applications spanning electric vehicles, consumer electronics, wind energy, robotics and modern military systems.

While permanent magnets remain a headline driver, non-magnetic uses now account for a larger share of total demand, underscoring the material’s broad industrial importance.

Demand projections for rare earths forecast robust growth, underpinned key segment expansion.

According to Finch’s data an average 100 kW EV traction motor contains roughly five kilograms of neodymium-praseodymium and about one kilogram of dysprosium oxide, illustrating how electrification is fueling consumption.

Additionally, permanent magnet applications are projected to grow at an 8.5 percent compound annual rate through 2030, with magnetic and non-magnetic uses expected to reach parity over the next decade.

Military demand is also a significant driver.

“(There are) 418 kilograms of rare earths going into an F 35 type two fighter (jet), 2.6 metric tons going into a type 51 (naval) destroyer, and 4.6 metric tons going into a Virginia class submarine,” said Finch.

As stated, supply remains heavily concentrated in China which controls 91 percent of the overall supply chain, from mining to permanent magnets. Finch emphasized that this concentration creates a single-country risk, noting, “When a country owns so much of a supply chain, it’s easy to use it as a bargaining chip.”

The global rare earths supply chain is gradually diversifying. North America and Africa are emerging as key growth regions, with projects expected to significantly expand non-Chinese production in the coming decade.

Finch pointed to Africa, which could account for up to 7 percent of global supply after 2030, driven by low capital intensity and favorable mining costs. Despite this progress, he cautioned that complete self-sufficiency outside China remains a distant prospect, emphasizing the need for rapid investment and strategic coordination to secure supply.

Rare earths investment bolstered by government support

In addition to the Department of Defense’s MP Materials investment, the US government has established a price floor for NdPr oxide, the high-value rare earths ingredient inside permanent magnets.

During a fireside chat at Benchmark Week, Ryan Corbett, CFO of MP Materials, explained the impact of the price floor in support of the burgeoning US supply chain. He told the audience that the deal is “absolutely transformational,’ and pointed to China’s ability to control pricing by flooding or starving the market. “What good is it to invest billions of dollars if the second you turn your refinery on, prices go from US$170 to US$45?” said Corbett.

In October, the Trump administration announced another strategic investment aimed at reshoring critical supply chains through a US$1.4 billion public-private partnership with Vulcan Elements and ReElement Technologies.

Under the agreement, the Commerce Department will provide US$50 million in CHIPS Act incentives for neodymium-iron-boron magnet production in exchange for an equity stake, alongside up to US$700 million in conditional Defense Department loans to support facilities targeting up to 10,000 metric tons of annual output.

On the private investment side, Rare earths developer Pensana (LSE:PRE,OTCPL:PNSPF) secured a US$100 million strategic investment to advance its mine-to-magnet ambitions in the US, at the end of 2025.

Although the rare earths sector saw several multimillion-dollar deals in 2025, exploration capital remains scarce.

According to S&P Global’s Senior Principal Analyst, Mining Studies & Mine Economics, Paul Manalo the rare earths account for 1 percent of global exploration budgets, however, that number has improved in recent years.

“For the sixth consecutive year, budgets for rare earths were up reaching US$155 million in 2025; it’s the highest level since 2012,” Manalo said during the S&P Global Market Intelligence 2026 Corporate Exploration Strategies webinar.

Although exploration budgets are growing, the expert said 80 percent of that capital is being deployed in only four countries: Australia, Brazil, USA and Canada. “Just like in other minor metals, the juniors are the primary drivers for exploration of rare earths, with only a few majors dabbling in it,” Manalo told listeners, adding, “There are few rare earth mines outside of China, so most pending exploration is for late stage projects.”

The government funding and strategic stockpile proposal were acknowledged as a good starting point by Stormcrow Capital’s Hykawy, who also cautioned that they may not be as meaningful as markets anticipate.

“I give the efforts so far an ‘A’ for enthusiasm but a ‘C-‘ for effectiveness. From what I have seen, the powers-that-be are beavering away to create a supply chain that can provide what the world is demanding, today,” he said.

“Unfortunately, many of their efforts can’t bear fruit for 5 years or more, and none of these agencies seemed to think it worthwhile to try and evaluate what will be required in 5 or 10 years.”

More long-term foresight is needed.

“Technology giveth, but technology also taketh away, and while no one can be sure what the technology-driven need will be in 5 or 10 years, we should at least try to incorporate that into planning,” he said.

“If the wrong projects are being backed, the economics for that producer or processor in 5 or 10 years are not going to look good and money and time will have been completely wasted.”

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

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Questcorp and Riverside Make New Gold Discovery in Initial Drill Results from Luis Hill and Famosa Targets at Union Project, Sonora, Mexico

Investing 12 Mins Read

Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the ‘Company’ or ‘Questcorp’) along with its partner Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY0) (‘Riverside’), is pleased to announce a new discovery of potential Carlin-like gold mineralization at the Luis Hill target within the La Union Project in Sonora, Mexico.

Initial drilling in the Luis Hill target returned a 42m @ 0.3 g/t gold drill-width intersection of sediment-hosted gold mineralization in black shales and carbonate strata—a style not previously recognized at the Union Project. This was the only hole drilled into the Luis Hill target during the initial H2 2025 drill program.

Highlights of the Drill Program:

  • Target Reporting: This release reports results from Luis Hill, Famosa, and Famosa Mag targets.
  • New Discovery: Discovery of previously unknown Carlin-like gold mineralization in black shales and carbonate strata at Luis Hill, returning 0.3 g/t gold over 42m. Results to date show sulfides, mineralization types, and intrusions aligned with a carbonate-hosted metal system.
  • Program Scale: Completed 12 core holes totaling >1,600 m across six targets: the past-producing Union, Union Norte, and Famosa Mine, as well as Cobre, Luis Hill, and Famosa EM.
  • Assays Pending: Over 700 half-core samples have been shipped; further assays are pending for Union, Union North and Cobre targets.
  • Strategic Orientation: Holes were oriented at angled and near-vertical positions to cut stratigraphy and structures typical of Carbonate Replacement Deposit (CRD) systems, focusing beneath oxidized horizons generally <150 m in depth.

Questcorp President & CEO, Saf Dhillon stated, ‘We are incredibly pleased with the work from the team at Riverside Resources. This story is starting to evolve quite efficiently, especially considering a first phase of drilling is more of a data gathering process that is utilized primarily to hone future work programs. Hitting a number of gold anomalies in the early stages is very promising as we continue to work towards making a new potential discovery in the rich Sonora Gold Belt. I believe 2026 could be an inflection point for the success and growth of both Questcorp and Riverside!’

Figure 1- Luis Hill cross section with drill hole 9.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10197/280127_3a05f3b904909978_001full.jpg

Target Hole_ID Starting at Length (m) Au_ppm Comments
Luis Hill UND25-009 198.25 42.70 0.286 Shale hosted, silicification, CRD style alteration
   
Famosa Targets
Famosa Mine UND25-004 19.10 14.90 Test CRD mineralization (Manto)
     
UND25-005 39.10 1.85 0.345
UND25-011 11.50 11.85 Test CRD Mineralization (Manto) at Famosa Mine
UND25-012 9.65 17.45
Including 14.90 2.00 0.162
Famosa EM UND25-010 146.40 1.65 0.134 Test EM Geophysics anomaly
 

 

Table 1- Assay results table with gold for Luis Hill hole 9, Famosa Area holes 4, 5, 10, 11, 12.

Riverside CEO, John-Mark Staude, states,

‘Riverside is pleased to be working with Questcorp on the Union Project and these first 6 drill holes, representing half of the program so far is exciting and sets up for the next news release of the next 6 holes of the overall 12-hole program. Hole 9 into the Luis Hill exploration target is an exciting start finding a new western area that has scale and could be a great step for the program. Drilling at Famosa was positive for the structure and further drilling is warranted along strike north and south for over 1 km is wide open for discovery there and past assay results in earlier news releases of high-grade gold and past mining, make the Famosa area a priority as well. We are excited for a good 2026 and next exploration phase at Union.’

Luis Hill Target Detail

Hole 9 was drilled vertically in the southern area of a large, 1,500m by 500m magnetic high Luis Hill target. While Hole 9 did not hit an obvious large magnetic source, however several magnetic dioritic dikes which may be emanating from a deeper, larger magnetic source likely intermediate composition intrusion were intersected. The discovery interval consists of gold in siliceously replaced jasperoid-like dolomite and silica flooded black shale, which is similar to some sediment hosted gold deposits in Nevada (USGS Prof Paper 1267, 1985). The discovery, a new finding for this part of Sonora, is important for both the property and in the region as it shows the potential for previously unknown sediment hosted gold inside of one of the most prolific gold belts in Mexico, the Sonora Gold Belt – also referred to as the Megashear Gold Belt in past scientific studies. Folding and Basin and Range block faulting is expected to bring the mineralized formations closer to surface for 2026 H1 drilling within the magnetic target area. The Companies feel Luis Hill has the potential to become a major new discovery in Mexico.

The discovery interval of 0.3 g/t gold over 42 metres included 23 assay intervals ranging in width from 0.45m to 2m, with assays ranging from 0.005 g/t to 1.31 g/t gold. Fifteen intervals returned gold values in excess of 0.1 g/t, with three in excess of 0.5 g/t.

Sample ID m From m To Interval Au_ppm Sample ID m From m To Interval Au_ppm
RRI-U545 198.25 200.25 2 0.38 RRI-U557 219.5 221.5 2 0.014
RRI-U546 200.25 202.25 2 0.678 RRI-U558 221.5 223.5 2 0.012
RRI-U547 202.25 203.8 1.55 0.393 RRI-U559 223.5 225.5 2 0.187
RRI-U548 203.8 205.8 2 0.007 RRI-U561 225.5 226.9 1.4 0.011
RRI-U549 205.8 207.8 2 -0.005 RRI-U562 226.9 228.3 1.4 0.114
RRI-U550 207.8 209.8 2 0.059 RRI-U563 228.3 228.9 0.6 pending
RRI-U551 209.8 211.8 2 0.012 RRI-U564 228.9 230.9 2 0.158
RRI-U552 211.8 213.8 2 0.849 RRI-U565 230.9 232.9 2 0.724
RRI-U553 213.8 215.5 1.7 0.316 RRI-U566 232.9 234.2 1.3 0.135
RRI-U554 215.8 217.8 2 1.31 RRI-U567 234.2 235.55 1.35 0.083
RRI-U555 217.8 218.9 1.1 0.319 RRI-U568 235.55 236 0.45 0.131
RRI-U556 218.9 219.5 0.6 0.321 All intervals are down hole widths.

 

Table 2- Full Assay Interval for UND25-009 Discovery Intersection.

Figure 2- Cross section Famosa Mine area with 4 holes intersecting mineralized horizon that is the downdip projection from the Famosa mine and remains open for further drilling along strike north-south and further down dip to the west. Note the map shows how drill holes are projected onto a simplified single plane for schematic purposes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10197/280127_3a05f3b904909978_002full.jpg

Famosa Mine and Famosa EM Target

This release is also reporting results from the 5 holes drilled at the Famosa Mine and the Famosa Electro-Magnetic (‘EM’) target. Drilling at the Famosa mine focussed on extensions of the CRD mineralization, where past mining and the geology and structure indicate a manto horizon. One hole tested the EM Target located 500 m west of the Famosa Mine workings.

Four core holes tested a west-dipping dolomite manto target and adjacent structures in the Famosa Mine Area, where historical small-scale mining left surface dumps. Dump sampling reported highlight gold grades in excess 0.5 oz/t (>15 g/t) gold as detailed in the May 7, 2025, technical report found under Questcorp’s profile on SEDARplus. Holes were drilled at angles toward the east to intersect the target as close to perpendicular as practical and to evaluate continuity of alteration and mineralization with intrusive dikes and breccias noted in the core logging. A drill width intersection of 1.85m @ 0.345 gold, starting at 39m, on the down dip projection from the horizon at the Famosa Mine 70o CRD shaft was recorded in Hole 5.

Hole 10 tested the Famosa EM target, intersecting the favorable dolomitic stratigraphy. The Famosa drilling results will be followed up.

The summary collar and drilling information for all 12 holes and 1625m drilled in Phase 1 is provided in the table below.

Table for Phase 1 Drilling Union Project H2, 2025 All Holes, 1625m total
Hole_lD Easting Northing Elevation Azimuth Dip Total Depth Target
UND25-001 376043 3347225 358.66 131 -50 198.25 Union Mine
UND25-002 375606 3347813 381.37 65 -50 201.30 El Cobre
UND25-003 376048 3347598 378.34 65 -50 25.90 Union Norte
UND25-004 375137 3344629 360.47 110 -70 129.35 Famosa Mine
UND25-005 375146 3344578 362.35 92 -70 104.80 Famosa Mine
UND25-006 376099 3347627 389.13 100 -80 118.45 Union Norte
UND25-007 376199 3347156 355.46 280 -80 166.20 Union Mine
UND25-008 376111 3347136 369.34 125 -80 128.10 Union Mine
UND25-009 375261 3347551 400.64 0 -90 292.80 Luis Hill
UND25-010 374941 3344765 363.95 90 -70 161.60 Famosa EM
UND25-011 375171 3344608 362.45 90 -85 51.00 Famosa Mine
UND25-012 375171 3344608 362.45 90 -90 47.25 Famosa Mine

 

Table 3- Drill collar information with the bolded and italicized holes are in this news release.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10197/280127_3a05f3b904909978_003full.jpg

Figure 3- Map of the location of the Luis Hill and Famosa areas among the other areas that were drilled and results will be coming next from the other target areas when available.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10197/280127_3a05f3b904909978_004full.jpg

Geological Model and Strategy

The H2 2025 Phase I program was designed to test primary areas of historical mining and key magnetic targets. The program followed the geological model of the South 32 Taylor deposit in southern Arizona. Drilling intersected gold, zinc, and silver indications consistent with vectors toward a major discovery.

Furthermore, the sediment-hosted gold style found at Luis Hill is comparable to Nevada’s carbonate platform geology, making it an intriguing new development area for the Union Project.

Sampling Procedures and QA/QC

Core was logged, saw-cut, and half-core samples were shipped for analysis. Samples from the first eight holes were delivered to Bureau Veritas (Hermosillo, Sonora) for gold fire assay, with pulps forwarded to Vancouver, Canada for Inductively Coupled Plasma-Mass Spectrometry (‘ICP-MS’) following four-acid digestion to determine silver, base metals, and pathfinders. Samples from the final four holes were shipped to ACT Labs Zacatecas, where preparation, gold assay, and multi-element ICP are completed in Mexico. The final 4 holes of the program were shipped to ACT Labs where they were similarly assayed using the same processing methods but with their initial preparation and assaying completed in Zacatecas, Mexico using the same ICP and gold fire assay methods. The change in lab halfway through the program was due to assay turn around issues. Samples were maintained in chain of custody being delivered to the laboratory in sealed bags. Remaining half-cores are retained for reference.

Standards were inserted every 20 samples and blanks every 100 samples. The laboratory also did duplicates every 20 samples as additional check on the quality control. The QA/QC was analyzed with a check for any variations in the standards beyond 2 standard deviations and the standards passed.

Next Steps

After all assays are interpreted and released, the Companies will work together on organizing the H1 2026 Phase 2 exploration program, building from the Phase I exploration results. Along with follow-up drilling, Phase 2 will likely include geophysics, geochemistry and mapping. The results announced here are exciting for the western Luis Hill area, which has never seen prior drilling, although small scale mines indicate potential locations. Based on these drill results, a focused follow-up is strongly warranted at Union for this target, as well as other targets.

The Companies are diligently working toward an expanded drill program for H1 2026, as all permits and access are in good standing. With the new data, targets will be ready to explore, with the potential to immediately begin field work portions early this year.

The Company will release the next set of drill results once a QA/QC review is completed.

Qualified Person:

The technical content of the new release has been reviewed and approved by R. Tim Henneberry, P.Geo (British Columbia), a director of the company and a qualified person under National Instrument 43-101.

The Union Agreement

Questcorp currently holds an option to earn a 100% interest in the Union Project with business terms announced May 6, 2025, and align Questcorp and Riverside through Riverside being a share owner initially 9.9% of Questcorp and upon earn-in Riverside will become a 19.9% share owner and retain a 2.5% NSR.

About Questcorp Mining Inc.

Questcorp Mining is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metals properties of merit. The company holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 1,168.09 hectares comprising the North Island copper property, on Vancouver Island, B.C., subject to a royalty obligation. The company also holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 2,520.2 hectares comprising the La Union project located in Sonora, Mexico, subject to a royalty obligation.

ON BEHALF OF THE BOARD OF DIRECTORS,

Saf Dhillon
President & CEO

Questcorp Mining Inc.
saf@questcorpmining.ca
Tel. (604-484-3031)

Suite 550, 800 West Pender Street
Vancouver, British Columbia
V6C 2V6.

Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding completion of survey work at the North Island Copper project. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280127

News Provided by Newsfile via QuoteMedia

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Doug Casey: Gold, Silver, Uranium, Oil/Gas — My Focus in 2026

Investing 1 Min Read

Doug Casey of InternationalMan.com and the podcast Doug Casey’s Take shares his thoughts on gold, silver and more heading into the new year.

Casey, who is also a best-selling author, sees higher prices for both precious metals ahead.

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

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Pentagon Deal Seeks to Create First Large-scale US Gallium Facility

Investing 2 Mins Read

The Trump administration is considering a direct equity stake in a Louisiana-based refinery to establish what officials say would become the only large-scale producer of gallium in the US.

The Department of Defense is set to invest US$150 million in preferred equity in Atlantic Alumina, known as ATALCO, as part of a strategic partnership with an affiliate of Pinnacle Asset Management, according to Bloomberg.

The unannounced deal will fund an expansion of ATALCO’s alumina output and the construction of a new circuit to recover gallium, a critical metal used in military systems and advanced semiconductors.

Under the agreement, ATALCO will pair the Pentagon’s investment with an additional US$300 million from Pinnacle. The US government is also expected to provide additional funding within 30 days of the transaction’s closing.

“This strategic partnership is an essential step in reducing reliance on foreign nations for critical minerals,” ATALCO said.

Once fully built out, the facility is expected to produce more than 1 million metric tons of alumina annually and up to 50 metric tons of gallium per year. Gallium is typically recovered as a by-product of alumina refining, and China currently dominates both global alumina processing and gallium supply.

ATALCO has operated continuously since the late 1950s at its refinery in Gramercy, Louisiana, where it processes Jamaican bauxite into alumina, a fine white powder used in aluminum production.

After the closure of a neighboring refinery in 2020, the facility became the last alumina refinery of its kind in the country. The company says it currently supplies roughly 40 percent of domestic alumina demand.

The investment is a continuation of the Trump administration’s shift toward taking direct financial stakes in companies it views as strategically important in its effort to rebuild a domestic supply chain for rare earths and critical minerals.

Last November, the government backed a US$1.4 billion public-private partnership involving Vulcan Elements and ReElement Technologies, a subsidiary of American Resources (NASDAQ:AREC), to expand domestic rare earth magnet production.

In October, officials explored taking an equity stake in Critical Metals (NASDAQ:CRML), a US-listed company developing Greenland’s Tanbreez rare earths deposit.

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

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