Red Cloud Securities

Nickel price spikes after Indonesia’s president approves export tax ow.ly/Q4MN50Yz7C9

.@KoryxCopper reported an updated MRE for its Haib copper project. The update incorporates results from the recently completed Phase 1 drill program, which focused on structurally controlled, higher-grade portions of the deposit. In our view, a key technical driver was the optimization of cut-off grades to define a broad mineralized halo, successfully converting significant volumes of former waste into resource. This reclassification has effectively reduced the expected stripping ratio by approximately 47% and increased the total contained copper inventory by roughly 35%. Details: ow.ly/g0nw50Yz7B9 $KRY

.@Energy_Fuels has produced 1kg of 99.9% pure terbium oxide from domestically sourced monazite ore at pilot scale at its White Mesa mill in Utah. The company also recently produced nearly 30kg of 99.9% pure dysprosium oxide. Both of these REOs are subject to Chinese export controls and are U.S. designated critical minerals. $EFR is in the early stages of both REE and U production growth and is establishing itself as a key U.S. critical minerals supplier. Read more here: ow.ly/C6fK50Yz7xy

.@AftermathSilver reported the first batch of assays from the Phase 3 diamond drill program underway at its 100%-owned Berenguela Ag-Cu-Zn-Mn project. The first 17 holes, totaling 1,062m confirm near-surface, high-grade mineralization along a 225m strike within the western extent of the existing resource. Although these are infill results, we view them very positively, as they have returned some of the best intercepts seen at the project to date, and are materially higher than the grades in the latest MRE. Learn more: ow.ly/rPvU50Yz7sO $AAG

Proud to have acted as Co-Manager on @EXN_Resources' C$21.8 million financing, which closed in March. 🔗 More details on our website: ow.ly/2JmQ50Yy5FP

IEA: Iran Energy Shock to Boost Uranium and Nuclear Demand ow.ly/qLTP50YyBBm

.@ucore has signed a Memorandum of Understanding with @VulcanElements to supply separated NdPr and Dy oxides, for use in permanent magnet manufacturing. Vulcan is building a 10,000t NdFeB magnet factory in Benson, North Carolina, backed by US$1.4B in funding from both, the U.S. Government and private sources. Once up and running, this magnet facility would be the largest outside of China. We view this MOU positively as it provides $UCU with another potential customer for its separated TREO output from Louisiana, with plans to finalize a longer-term supply arrangement should testing yield positive results. Read more: ow.ly/khw250YyBxu

.@Silver_X_Mining has entered into a definitive agreement to acquire a 100% interest in the Pampas Au-Ag project in Peru for US$1.7M in cash. Pampas is located ~40km E of AGX’s Nueva Recuperada mine and while mapping and sampling work have been done previously, the project has not been drill tested. We view this acquisition positively as $AGX is adding an early-stage, low-sulfidation epithermal, Au-Ag vein system to its portfolio which may offer potential synergies down the line given its proximity to Nueva Recuperda. Learn more: ow.ly/l9xf50YyBsN

We're proud to have acted as Co-Manager on @EnduranceGold's C$8.3 million financing, which closed in March. 🔗 Click here to see more transactions: ow.ly/jBVQ50Yy5Bt

.@CosaResources reported spectrometer results from the first hole, completed as part of the 1,200m winter drill program at its 70/30 Murphy Lake North JV with @DenisonMinesCo, located 2.7km east of @IsoEnergyLtd's Hurricane deposit. Winter drilling at MLN intersected basement-hosted uranium over a broad 7m zone with anomalous radioactivity ranging from 400 to 13,900 cps. While assays are pending, we view these as encouraging results with a clearly visible uranium mineralization in core photos, which could very well translate into a discovery. Details: ow.ly/TzAt50YyBoQ $COSA

Pleased to have acted as Lead Agent on @ESGold_Corp's C$7.2 million financing, which closed in March. 🔗 More details: ow.ly/gAsJ50Yy5wc

US to commit US$250M toward supply chain investment fund ow.ly/l09S50Yy3Z7

Proud to have acted as Lead Underwriter on @Talisker_Ltd's financings raising aggregate gross proceeds of C$52.1 million in March. 🔗 See more: ow.ly/Xk7y50Yy5rs

We're proud to have acted as Co-Lead Underwriter on @EloroResources' C$17 million financing, which closed in March. 🔗 More details: redcloudsecurities.com/transactions/

China spent US$120B to lock down critical minerals overseas: report ow.ly/o0no50YxxuW

China silver imports hit record high – nearly 800 tonnes – in January and February ow.ly/z5ME50YxxtY

What does the future hold for gold? ow.ly/c4lq50Yxxte

We attended and spoke at the Battery Show Asia in Hong Kong and visited a new battery cell facility that provides bespoke cells for drones and robots. The battery industry continues to grow at annual rates of between 30-50% and shows no signs of slowing down over the next 5-10 years. We will continue to monitor all of the metal needs as the industry changes. Lithium and manganese markets look to continue to be robust based on strong battery demand. Read report: ow.ly/Mnak50Yxxrq

Gold mining stocks erase 2026 gains as rate cut bets fade ow.ly/7m9650YwPgU

.@GeigerEnergy reported initial results from its 2026 winter drilling program at the ACKIO target located within its wholly owned Hook Project in the Athabasca Basin. So far, 800m of drilling was completed across the ACKIO and TT targets as part of the program. Hole AK26-145 collared a 10m mineralized interval beginning at 52m with scintillometer readings of up to 1,000 cps, though detailed assays are pending. We view these initial results as an encouraging early indication of the system’s potential ahead of the broader 2026 drill campaign. Read more: ow.ly/ZfX350YwOvq $BEEP