Fairlight Capital

Extraordinary and difficult times for the global energy market. In answer to the question: “say you had $150 Dubai over the next couple of years, what sort of additional cash would you expect?” The response from Valeura’s CEO: “almost our current EV”.

A replay of #Valeura Energy’s 2025 results webcast is now available. $VLE $VLERF #oil #Dubai #Thailand youtu.be/jWANtkWOhZM

I think the gold miner sell off maybe overdone

Flying High. To A Multi-Product Transition.

Beng Kuang Group to Take Full Ownership of Subsidiary, ASOM, which Specialises in High-Value, Mission-Critical Services in the Energy Market via S$60 Million Acquisition $BEZ.SI bkmgroup.com.sg/frontend/web/i…

Hemlo Mining Corp. Announces Strong 2025 Gold Production of 143,458 Ounces (Including 20,192 Ounces in December) and Provides Operational Update - $HMMC.V | CEOCA Breaking News @newswire/hemlo-mining-corp-announces-strong-2025-gold-production" target="_blank" rel="nofollow noopener">ceo.ca/@newswire/heml…

Hemlo Mining Corp. Discovers New Cedar Creek Zone and Extends Mineralization at Depth within B-Zone by 400 Metres - $HMMC.V | CEOCA Breaking News @newswire/hemlo-mining-corp-discovers-new-cedar-creek-zone-and" target="_blank" rel="nofollow noopener">ceo.ca/@newswire/heml…

Si vous souhaitez découvrir la société, j’ai fait un article complet ici : open.substack.com/pub/im2specter…

$MMY.V Vancouver, B.C., February 18, 2026 - Monument Mining Limited (TSX-V: MMY and FSE: D7Q1)("Monument" or the "Company") is pleased to announce the results of an additional fifteen (15) holes from its Buffalo Reef/Felda areas and updates drilling activities under its mine expansion drilling program at the Selinsing Gold Mine including Selinsing and Buffalo Reef gold projects, located in Pahang State on the Central Gold Belt of Western Malaysia. Ms. Cathy Zhai, President and CEO of Monument Mining commented: "Some pleasing results are starting to be returned from the BRC2/BRC3 gap drilling with downhole mineralized intercepts spanning 7-9m width and continuity between mineralized intercepts becoming evident, validating the program objectives and guiding the next round of drilling.” Ms. Zhai continued: “Expansion drilling is targeting to increase gold resources and potentially expanded the life of mine at Selinsing Gold Mine. We have 4 drill rigs up running now and plan to increase up to 9 drill rigs to accelerate the exploration programs.” monumentmining.com/site/assets/fi…

Public Equity Compounding Platform. A Portfolio of Operating Businesses Priced at ~2.5x Earnings.

Dewey Electronics Corp is an OTC traded net-net at 5x earnings. The company sells military electronics, mainly robust power generators to the US government. The stock trades at a 50% discount to NCAV, 1.6x EV/FCF, holds 74% of its market cap in cash, has no debt, and a strong backlog.

#Valeura announces record 2P #reserves, an increase in reserves life index, and 3rd consecutive year of approximately 200% 2P reserves replacement ratio. $VLE $VLERF #Thailand valeuraenergy.com/record-2p-rese…

Fairlight Capital Q4 2025 Letter: fairlightcapital.com/_files/ugd/a6c…

Serabi Gold plc: Q4-2025 OPERATIONAL HIGHLIGHTS & 2026 GUIDANCE $SBI.TO $SRB.L Quarterly gold production of 11,534 ounces, a 15% increase from Q4-2024. Record annual gold production of 44,169 ounces, achieving production guidance and an 18% increase on FY2024 gold production. A total of 4,535 metres of horizontal development for the quarter, a 45% increase from Q4-2024. Cash held as at 31 December 2025 of $49.2 million, with a further $5.1 million received on 2 January 2026 for sales registered during December 2025 vs $38.8 million as at 30 September 2025, an increase of $10.4 million during the quarter ($15.5 million inclusive of the $5.1 million). Net cash at quarter-end (after interest bearing loans and lease liabilities) of $42.1 million (Q3-2025: $33.0 million). 2026 consolidated production guidance of 53,000 – 57,000 ounces gold. polaris.brighterir.com/public/serabi_…

Open For Business. A Post-Inflection, Pre-Rerating Miner.

What’s Next? Three themes we are navigating in 2026: 1) Why Sovereign Balance Sheets matter 2) Volatility versus leverage 3) Where we are finding one-in-a-thousand asymmetric opportunities linkedin.com/posts/fairligh…

The Good, the Bad and the Ugly: A Pre-Inflection Setup. A global business at a crossroads and the decisions that will define its future.

Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) declares a special cash dividend of two cents ($0.02) per common share. The dividend will be payable on January 19, 2026, to shareholders of record as at the close of business on January 5, 2026. $mmy.v monumentmining.com/news-media/new…