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SAGA Metals Confirms a 3 km Continuous Magnetic Anomaly in the Trapper Zone at the 100% Owned Radar Titanium Property in Labrador, Canada & Provides Corporate Update

Investing 11 Mins Read

 

Saga Metals Corp. (‘SAGA’ or the ‘Company’) (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to announce SAGA’s geophysics team has confirmed a 3 km continuous magnetic anomaly in the Trapper zone that remains open in both directions along strike.

 

 

 

   Figure 1:    Radar Project’s Trapper Zone depicting a 3 km magnetic anomaly and oxide layering trend. The Trapper Trail (in black) will support a new diamond drilling program.  

 

  Michael Garagan, CGO & Director of SAGA, stated:   ‘Previous data from the regional aeromagnetic survey suggested two large anomalies existed within the Trapper zone, leading our teams to refer to the zone as north and south. Now, with the additional total magnetic intensity data, we can clearly see that we are dealing with one large, continuous anomaly, featuring our highest magnetic readings to date. This zone alone showcases a strike length and width comparable to those of notable other projects. The striking lateral continuity of the oxide layering in the Trapper Zone suggests that the layering is contiguous with the oxide layering identified in the Hawkeye Zone, adding further data to support a potential 20 km oxide layer strike.’  

 

 

 

   Figure 2:    Radar Project’s prospective oxide layering zone extends for an inferred 20 km strike length, as shown on a compilation of historical airborne geophysics as well as ground-based geophysics in the Hawkeye and Trapper zones completed by SAGA in the 2024/2025 field programs. SAGA has demonstrated    the reliability of the regional airborne magnetic surveys after ground-truthing and drilling    in the 2024 and 2025 field programs .

 

  Magnetic and VLF-EM Survey over the ‘Trapper Zone’  

 

A ground-based magnetic survey was conducted over both the northern and southern sections of the Trapper Zone during July 2025. The survey utilized two GSM-19 Magnetometers to collect magnetic-field and VLF-EM data (using VLF Transmitter Cutler).

 

The survey used a grid of N-S lines, spaced 50 m apart, with observations made at stations spaced 20 m apart along the lines. The tightly gridded stations map a distinct NW trend of magnetic highs that correlates well with the exposures of oxide layering.

 

In a similar fashion to the Hawkeye zone, SAGA’s geophysics team reports strong magnetic responses within the Trapper zone, requiring recalibration of the geophysical instruments. While readings exceeded 74,000 nT in the Hawkeye zone, at the Trapper zone, they observed responses as high as 115,498 nT over the northern Trapper zone and over 113,000 nT over the southern Trapper zone. In some cases, the instruments reached the maximum level of detection (120,000 nt).

 

 

 

   Figure 3:    A screenshot of the Magnetometer GSM-19 geophysical instrument recording 115,498 nT over the Tapper zone.  

 

  Trapper Zone Excavator Trenching – Confirmation in Bedrock of Magnetite Layering  

 

Early in this summer season, SAGA completed a 4 km access trail along the core of the Trapper zone, providing necessary access for future drill programs and exploration activities.

 

SAGA’s field team began follow-up of the Trapper zone magnetic responses in July. Gladiator Drilling’s 25-tonne excavator opened three trenches perpendicular to the inferred strike, exposing cumulate layers of semi-massive to massive vanadiferous titanomagnetite (‘VTM’) mineralization over a total of 504m 2 (5,425ft 2 ). See Figure 1. This strong confirmation of the magnetic responses is presently in its early stages and will require additional trenching and diamond drilling to delineate the dimensions of the gabbronorite/magnetite layering.

 

The Trapper zone is now confirmed as a similar occurrence to the Hawkeye zone, based on the early results of ground geophysical surveys and trenching. Taken together with the geophysical surveys and winter 2025 drilling results at the Hawkeye zone, the exploration potential of the 20 km long arcuate response of the regional aeromagnetic is confirmed. See Figure 2.

 

The high-definition details of the Trapper zone ground magnetic anomalies indicate multiple layers of the strongest magnetic layering and define additional detail to the regional magnetic responses. The pattern of magnetic anomalies indicates that the design of the next drilling and sampling phases should consider both the early geometry of the Dykes River Intrusive Complex and a later phase of open folding.

 

 

 

   Figure 4.1:    25-tonne excavator completing a trench in the Trapper zone over the oxide layering trend.

 

 

 

 

   Figure 4.2:    25-tonne excavator completing a trench in the Trapper zone over the oxide layering trend.  

 

  About the Radar Titanium Project  

 

Located just 10 km from Cartwright, Labrador, the 24,175-hectare Radar Titanium Project is supported by existing infrastructure, including road access, a deep-water port, an airstrip, and nearby hydroelectric power. The property completely encompasses the Dykes River Intrusive Complex, a previously underexplored layered mafic body.

 

With a large oxide layering thickness, a near-monomineralic vanadiferous titanomagnetite (‘VTM’) composition, and extensive mineral tenures, the Radar Titanium Project shows the potential to become a globally significant VTM project.

 

 

 

   Figure 5:    Radar Property map, depicting aeromagnetic anomalies, oxide layering and the site of the 2025 drill program. The Property is well serviced by road access and is conveniently located near the town of Cartwright, Labrador. A compilation of historical aeromagnetic anomalies is shown. SAGA has demonstrated    the reliability of the regional airborne magnetic surveys after ground-truthing and drilling    in the 2024 and 2025 field programs.  

 

  Michael Garagan, CGO & Director of SAGA continued:   ‘These geophysical findings further validate the importance of the team’s estimate that a 15,000-meter drill program can get us to our maiden drill-indicated mineral resource. With simple homogenous geochemistry, large oxide layers, seasoned experts supporting our technical analysis, upgraded infrastructure within the Trapper zone and strong provincial support through the JEA program we can fast track development and create meaningful value to shareholders in the near term at the Radar project.’  

 

  Continued Government Support  

 

SAGA’s Letter of Intent was approved under the JEA 2025 program as a Critical Minerals Primary Exploration Target, recognizing the Property’s alignment with provincial and federal priorities to secure domestic supplies of key metals. With up to $143,949 in non-dilutive funding already approved, this support continues to offset exploration costs while advancing shareholder value.

 

  Investor Relations Agreements  

    

In addition, SAGA has engaged Think Ink Marketing Data & Email Services (‘ Think Ink ‘) to provide corporate awareness and digital marketing services.

 

Think Ink will leverage its expertise in native and display advertising, video content distribution, social media coverage, and targeted email marketing to enhance the Company’s digital presence and expand market awareness. The Company has budgeted up to USD $100,000 (the ‘ Compensation ‘) for the 3-month agreement. The Compensation is payable in monthly installments. Either party may terminate the agreement with thirty (30) days’ written notice, and any portion of the Compensation already paid that remains unspent or uncommitted as of the effective date of termination shall be returned to the Company.

 

Compensation to Think Ink does not include any securities of the Company, and Think Ink does not hold any interest, directly or indirectly, in the Company. Think Ink is at arm’s length to the Company and has no relationship with the Company outside of this engagement.

 

Think Ink Data & Email Services, Inc., is a California-based marketing firm established in 1991 that provides its customers with a complete range of marketing services that span both digital and direct mail venues. With its digital services ranging from data appending, email marketing and pay-per-click online banner and native ads, Think Ink helps its clients to reach a network of potential investors.

 

For further information about Think Ink Marketing, please contact: Claire Stevens, 310-760-2616, 3308 W. Warner Ave, Santa Ana CA 92704, Email claire@thinkinkmarketing.com .

 

  Qualified Person  

 

Paul J. McGuigan, P. Geo., is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information related to the Radar Ti-V-Fe Project disclosed in this news release.

 

  About Saga Metals Corp.  

 

 Saga Metals Corp. is a North American mining company focused on the exploration and discovery of a diversified suite of critical minerals that support the global transition to green energy. The Radar Titanium Project comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km² on the surface near Cartwright, Labrador. Exploration to date, including a 2,200m drill program, has confirmed a large and mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) with strong grades of titanium and vanadium.

 

The Double Mer Uranium Project, also in Labrador, covers 25,600 hectares featuring uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U 3 O 8 and uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).

 

Additionally, SAGA owns the Legacy Lithium Property in Quebec’s Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Metals.

 

With a portfolio that spans key minerals crucial to the green energy transition, SAGA is strategically positioned to play an essential role in the clean energy future.

 

  On Behalf of the Board of Directors  

 

  Mike Stier, Chief Executive Officer  

 

For more information, contact:

 

Rob Guzman, Investor Relations
Saga Metals Corp.
Tel: +1 (844) 724-2638
Email: rob@sagametals.com
www.sagametals.com

 

  Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  

 

  Cautionary Disclaimer  

 

This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipates’, ‘expects’, ‘believes’, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the exploration of the Company’s Radar Project. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, inherent risks and uncertainties involved in the mineral exploration and development industry, particularly given the early-stage nature of the Company’s assets, and the risks detailed in the Company’s continuous disclosure filings with securities regulations from time to time, available under its SEDAR+ profile at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

 

Figures accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/9841a97a-ca11-4546-abdf-5ffbe2d0f64b   
  https://www.globenewswire.com/NewsRoom/AttachmentNg/ea884fb4-3534-4d7d-a25a-d3e60557865e   
  https://www.globenewswire.com/NewsRoom/AttachmentNg/d30f8014-8d62-4f3c-82af-40d98cd92058   
  https://www.globenewswire.com/NewsRoom/AttachmentNg/ed7d7ce9-e2bb-42e3-9eb9-5794cb058e48   
  https://www.globenewswire.com/NewsRoom/AttachmentNg/39a28fc2-3a8b-4c82-b07d-8a1850438944   
  https://www.globenewswire.com/NewsRoom/AttachmentNg/9d067be1-0dfb-4ab3-bfaf-ed934cc0e0ee  

 

   

 

 

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

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NextSource Materials Executes Binding Offtake Agreement with Mitsubishi Chemical Corporation to Supply SuperFlake Graphite Anode Material for the North American EV Market

Investing 8 Mins Read

NextSource Materials Inc.  (TSX:NEXT)(OTCQB:NSRCF) (NextSource or the Company) and Mitsubishi Chemical Corporation (MCC), Japan’s largest chemical company and a leading supplier of anode active material (AAM) to original automotive equipment manufacturers (OEMs), have entered into a binding, multi-year offtake agreement (the Offtake Agreement). Under the terms of the Offtake Agreement, NextSource and MCC have partnered to supply AAM to a major OEM for the North American EV market. NextSource will produce and supply intermediate AAM to MCC’s Japan plant where MCC will produce final AAM for the OEM’s EV battery cell manufacturing facilities in North America.

Highlights

     

  • Multi-year offtake agreement signed with Mitsubishi Chemical Corporation for supply of c. 9,000 tonnes per annum (tpa) of anode active material
  • Partnering with Mitsubishi Chemical Corporation to supply major OEM manufacturer anode active material for its North American electric vehicle (EV) market
  • Accelerates development of NextSource’s Battery Anode Facility in the Middle East
  • Significant milestone towards achieving vertical integration by 2027

This Offtake Agreement represents a major milestone for NextSource in its strategy to become one of very few vertically integrated graphite producers outside of China. The Company is now prioritizing the development of a large-scale Battery Anode Facility (BAF) in the Middle East to meet the volume capacities required for MCC and has identified several prospective sites in the United Arab Emirates (UAE). These locations offer streamlined permitting processes, robust infrastructure, and strategic proximity to other OEMs, enabling the Company to accelerate its timeline and meet growing demand for high-value graphite anode active material.

Hanré Rossouw, President and CEO of NextSource, stated,

‘We are excited to have entered into a partnership with Mitsubishi Chemical Corporation through a binding offtake agreement for the production of active anode material in the Middle East, leveraging high-quality graphite feedstock from our Molo mine in Madagascar. This partnership underscores our commitment to delivering sustainable, high-performance anode materials to meet the growing demand from OEM and battery manufacturers. By integrating world-class resource supply with advanced processing capabilities, we are building a resilient and scalable solution that supports global electrification efforts.’

Through the phased development of its BAFs, NextSource is establishing a significant downstream value-added business capable of large-scale production of coated, spheronized, and purified graphite (CSPG). These facilities will serve as a secure, transparent, and fully traceable source of supply for battery and OEM customers, entirely decoupled from existing Asian supply chains, and a critical alternative for US Government-compliant supply chains.In July 2025, the U.S. imposed a substantial 160% total tariff on anode-grade graphite imports from China, combining a 93.5% anti-dumping duty with additional countervailing measures.

More than 95% of the anode (negative) side of EV batteries is made from graphite, making it the most critical raw material of all battery metals (Benchmark Mineral Intelligence, July 2025). In parallel, NextSource has begun preparations to expand its Molo mine operations to ensure sufficient and secure graphite feedstock supply to support the Offtake Agreement with MCC.

Today’s announcement also underpins NextSource’s engagement with strategic financing partners where it is in advanced discussions regarding assistance in funding construction of both the large-scale BAF and Molo mine expansion.

Offtake Agreement Terms

The Offtake Agreement designates NextSource as the sole supplier of c. 9,000 tpa of intermediate AAM to MCC for a multi-year term from the commencement of production of the Company’s BAF.

This Agreement is further underpinned by a rigorous qualification process. Through close technical collaboration between NextSource and MCC to supply AAM from high-quality SuperFlake® graphite concentrate, the qualification process will be finalized in 2026 through the installation of BAF processing equipment, of which approximately half has already been purchased and awaiting installation. SuperFlake® anode active material will be processed by MCC in Japan and supplied to its OEM customer’s cell manufacturing facility in North America, with full-scale ramp-up from 2027.

The pricing formula negotiated with MCC is based on an agreed upon price formula that comprises both a fixed and variable price component which underpins the economics of the project and secures capacity for the offtaker.

The Offtake Agreement is subject to conditions precedent and contains standard termination rights, which are customary for an Offtake Agreement of this nature.

Offtake Capacity Requirements Underpin NextSource’s Growth Strategy

Through close technical collaboration, qualification AAM from NextSource, using SuperFlake® graphite from Molo Phase 1 as feedstock, has been provided to and evaluated by MCC for the OEM’s battery manufacturer, confirming compliance with its specific anode quality and performance requirements.

The Company has begun preparations for an industry-scale Molo Phase 2 expansion, which is expected to benefit from larger economies of scale, while continuing to qualifying its graphite products and servicing existing key customers through Phase 1 campaign production.

The completion of the technical and economic studies for both the mine and a UAE-based BAF will inform the final investment decisions, including capital requirements and detailed financing plans. The significant potential of an expanded Molo Phase 2 and large-scale BAF in the Middle East offer a strong foundation for growth by securing further offtake agreements for SuperFlake® AAM.

About Mitsubishi Chemical Corporation

Mitsubishi Chemical Corporation is a 100%-owned subsidiary of Mitsubishi Chemical Group Corporation. Mitsubishi Chemical Group aims to be a ‘Green Specialty Company’ committed to solving social problems and to delivering impressive results to customers with the power of materials, under its Purpose that ‘We lead with innovative solutions to achieve KAITEKI, the well-being of people and the planet.’ Mitsubishi Chemical Group Corporation is listed on the Tokyo Stock Exchange Prime Market (Code: 4188).

For further information, please visit the company website: https://www.mcgc.com/english/

About NextSource Materials Inc.

NextSource Materials Inc. is a battery materials development company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.

The Company’s Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production, with Phase 1 mine operations currently being optimized.

The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, outside of existing Asian supply chains, in a fully transparent and traceable manner.

NextSource Materials is listed on the Toronto Stock Exchange (TSX) under the symbol ‘NEXT’ and on the OTCQB under the symbol ‘NSRCF’.

For further information about NextSource, please visit our website at nextsourcematerials.com

Investors may contact: Brent Nykoliation, Executive Vice President +1.416.364.4911 brent@nextsourcematerials.com

Cautionary Note

This press release contains statements that may constitute ‘forward-looking information’ or ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward looking statements and information are frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘potential’, ‘possible’ and other similar words, or statements that certain events or conditions ‘may’, ‘will’, ‘could’, or ‘should’ occur. Forward-looking statements include any statements regarding, among others, timing of commissioning and achievement of nameplate capacity, including the processing plant, process improvements and mine plant adjustments as well as production estimates, and financing and timing thereof, the rollout of Battery Anode Facilities including the capabilities and the timing thereof, and achievement of offtake agreements and required financing, and any conditions precedent as part of an offtake agreement. These statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

Source

Click here to connect with NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) to receive an Investor Presentation

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Homerun Collaborates with Igraine PLC to Launch Rapid-Deployment EV Charging and Battery Storage Solutions for UK Auto Sector

Investing 6 Mins Read

Homerun Resources Inc. (TSXV: HMR,OTC:HMRFF) (OTCQB: HMRFF) (‘Homerun’ or the ‘Company’) is pleased to announce that the Company’s European subsidiary, Homerun Energy has entered into a collaboration agreement with Igraine PLC, an investing company focused on alternative energy and life sciences, to work jointly on the deployment of commercial alternative energy solutions in the United Kingdom.

Under the terms of the agreement, Igraine and Homerun will work together on the development of pilot projects focused on electric vehicle (EV) charging infrastructure integrated with battery energy storage systems (BESS). The parties will initially focus on developing a pilot for one of the UK’s largest automotive manufacturers, providing a combined charging and battery storage solution. In addition, the collaboration has already identified a pipeline of potential clients seeking to install commercial EV charging stations.

A key feature of these projects is that they are designed for rapid deployment. Unlike larger grid-scale battery installations, these integrated solutions can typically be implemented without the long planning timelines associated with major infrastructure projects, enabling a faster route to commercialisation.

The goal of this partnership is to establish a first-mover advantage in providing charging and energy storage solutions for major automotive manufacturers in the UK. By enabling these companies to build out a reliable charging network for their commercial customers, whereby the collaboration aims to help accelerate the uptake and sale of commercial electric and hybrid vehicles.

The collaboration from Igraine’s side will be led by Andy Brown, who brings over 30 years of experience in battery storage and energy systems. His expertise will be central in shaping the technical and commercial aspects of the UK pilot projects.

The initial phase of the collaboration will concentrate on identifying and developing a pilot site for a major automotive manufacturer, with the parties working jointly on technical feasibility, commercial modelling, and the evaluation of ancillary recurring revenue streams, including energy trading and operational management services. The agreement provides a framework for collaboration and does not create any binding financial commitments at this stage. The Parties have been in planning and customer solicitation collaboration for several months. Future commercial terms and structures will be set out in a definitive agreement as specific opportunities progress.

Simon Grant-Rennick, Chairman of Igraine PLC, commented: ‘This collaboration combines Igraine’s commercial reach with Homerun Energy’s technical expertise, and we are delighted to be advancing plans for a UK pilot with a leading automotive manufacturer, as well as addressing a growing pipeline of opportunities for supporting other commercial EV charging solutions. These projects provide a quicker route to market compared to large-scale energy storage developments and are designed to position us at the forefront of enabling the UK’s automotive sector to expand its commercial electric vehicle offering.’

Brian Leeners, CEO of Homerun Resources Inc., commented: ‘Working with Igraine over the past few months has demonstrated the speed at which solutions can be developed and deployed over our EMS Platform. Igraine has identified an initial broad commercial opportunity in the UK, where the industry demand is not being met. These resulting solutions can then be deployed to other markets where Homerun Energy has an established footprint. Homerun Energy Solutions is creating down-market pull on our vertically integrated energy transition strategy by controlling the customer relationship.’

About Homerun (www.homerunresources.com)

Homerun (TSXV: HMR,OTC:HMRFF) is a vertically integrated materials leader revolutionizing green energy solutions through advanced silica technologies. As an emerging force outside of China for high-purity quartz (HPQ) silica innovation, the Company controls the full industrial vertical from raw material extraction to cutting-edge solar, battery and energy storage solutions. Our dual-engine vertical integration strategy combines:

Homerun Advanced Materials

  • Utilizing Homerun’s robust supply of high purity silica sand and quartz silica materials to facilitate domestic and international sales of processed silica through the development of a 120,000 tpy processing plant.

  • Pioneering zero-waste thermoelectric purification and advanced materials processing technologies with University of California – Davis.

Homerun Energy Solutions

  • Building Latin America’s first dedicated high-efficiency, 365,000 tpy solar glass manufacturing facility and pioneering new solar technologies based on years of experience as an industry leader in developing photovoltaic technologies with a specialization in perovskite photovoltaics.

  • European leader in the marketing, distribution and sales of alternative energy solutions into the commercial and industrial segments (B2B).

  • Commercializing Artificial Intelligence (AI) Energy Management and Control System Solutions (hardware and software) for energy capture, energy storage and efficient energy use.

  • Partnering with U.S. Dept. of Energy/NREL on the development of the Enduring long-duration energy storage system utilizing the Company’s high-purity silica sand for industrial heat and electricity arbitrage and complementary silica purification.

With six profit centers built within the vertical strategy and all gaining economic advantage utilizing the Company’s HPQ silica, across, solar, battery and energy storage solutions, Homerun is positioned to capitalize on high-growth global energy transition markets. The 3-phase development plan has achieved all key milestones in a timely manner, including government partnerships, scalable logistical market access, and breakthrough IP in advanced materials processing and energy solutions.

Homerun maintains an uncompromising commitment to ESG principles, deploying the cleanest and most sustainable production technologies across all operations while benefiting the people in the communities where the Company operates. As we advance revenue generation and vertical integration in 2025, the Company continues to deliver shareholder value through strategic execution within the unstoppable global energy transition.

On behalf of the Board of Directors of
Homerun Resources Inc.

‘Brian Leeners’

Brian Leeners, CEO & Director
brianleeners@gmail.com / +1 604-862-4184 (WhatsApp)

Tyler Muir, Investor Relations
info@homerunresources.com / +1 306-690-8886 (WhatsApp)

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

The information contained herein contains ‘forward-looking statements’ within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be ‘forward-looking statements’.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261270

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Business

All major Las Vegas Strip casinos are now unionized in historic labor victory

Business 5 Mins Read

LAS VEGAS — When Susana Pacheco accepted a housekeeping job at a casino on the Las Vegas Strip 16 years ago, she believed it was a step toward stability for her and her 2-year-old daughter.

But the single mom found herself exhausted, falling behind on bills and without access to stable health insurance, caught in a cycle of low pay and little support. For years, she said, there was no safety net in sight — until now.

For 25 years, her employer, the Venetian, had resisted organizing efforts as one of the last holdouts on the Strip, locked in a prolonged standoff with the Culinary Workers Union. But a recent change in ownership opened the Venetian’s doors to union representation just as the Strip’s newest casino, the Fontainebleau, was also inking its first labor contract.

The historic deals finalized late last year mark a major turning point: For the first time in the Culinary Union’s 90-year history, all major casinos on the Strip are unionized. Backed by 60,000 members, most of them in Las Vegas, it is the largest labor union in Nevada. Experts say the Culinary Union’s success is a notable exception in a national landscape where union membership overall is declining.

“Together, we’ve shown that change can be a positive force, and I’m confident that this partnership will continue to benefit us all in the years to come,” Patrick Nichols, president and CEO of the Venetian, said shortly after workers approved the deal.

Pacheco says their new contract has already reshaped her day-to-day life. The housekeeper no longer races against the clock to clean an unmanageable number of hotel suites, and she’s spending more quality time with her children because of the better pay and guaranteed days off.

“Now with the union, we have a voice,” Pacheco said.

These gains come at a time when union membership nationally is at an all-time low, and despite Republican-led efforts over the years to curb union power. About 10% of U.S. workers belonged to a union in 2024, down from 20% in 1983, the first year for which data is available, according to U.S. Bureau of Labor statistics.

President Donald Trump in March signed an executive order seeking to end collective bargaining for certain federal employees that led to union leaders suing the administration. Nevada and more than two dozen other states now have so-called “right to work” laws that let workers opt out of union membership and dues. GOP lawmakers have also supported changes to the National Labor Relations Board and other regulatory bodies, seeking to reduce what they view as overly burdensome rules on businesses.

Ruben Garcia, professor and director of the workplace program at the University of Nevada, Las Vegas law school, said the Culinary Union’s resilience stems from its deep roots in Las Vegas, its ability to adapt to the growth and corporatization of the casino industry, and its long history of navigating complex power dynamics with casino owners and operators.

He said the consolidation of casinos on the Las Vegas Strip mirrors the dominance of the Big Three automakers in Detroit. A few powerful companies — MGM Resorts International, Caesars Entertainment and Wynn Resorts — now control most of the dozens of casinos along Las Vegas Boulevard.

“That consolidation can make things harder for workers in some ways, but it also gives unions one large target,” Garcia said.

That dynamic worked in the union’s favor in 2023, when the threat of a major strike by 35,000 hospitality workers with expired contracts loomed over the Strip. But a last-minute deal with Caesars narrowly averted the walkout, and it triggered a domino effect across the Strip, with the union quickly finalizing similar deals for workers at MGM Resorts and Wynn properties.

The latest contracts secured a historic 32% bump in pay over the life of the five-year contract. Union casino workers will earn an average $35 hourly, including benefits, by the end of it.

The union’s influence also extends far beyond the casino floor. With its ability to mobilize thousands of its members for canvassing and voter outreach, the union’s endorsements are highly coveted, particularly among Democrats, and can signal who has the best shot at winning working-class votes.

The union’s path hasn’t always been smooth though. Michael Green, a history professor at UNLV, noted the Culinary Union has long faced resistance.

“Historically, there have always been people who are anti-union,” Green said.

Earlier this year, two food service workers in Las Vegas filed federal complaints with the National Labor Relations Board, accusing the union of deducting dues despite their objections to union membership. It varies at each casino, but between 95 to 98% of workers opt in to union membership, according to the union.

“I don’t think Culinary Union bosses deserve my support,” said one of the workers, Renee Guerrero, who works at T-Mobile Arena on the Strip. “Their actions since I attempted to exercise my right to stop dues payments only confirms my decision.”

But longtime union members like Paul Anthony see things differently. Anthony, a food server at the Bellagio and a Culinary member for nearly 40 years, said his union benefits — free family health insurance, reliable pay raises, job security and a pension — helped him to build a lasting career in the hospitality industry.

“A lot of times it is an industry that doesn’t have longevity,” he said. But on the Strip, it’s a job that people can do for “20 years, 30 years, 40 years.”

Ted Pappageorge, the union’s secretary-treasurer and lead negotiator, said the union calls this the “Las Vegas dream.”

“It’s always been our goal to make sure that this town is a union town,” he said.

This post appeared first on NBC NEWS

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WGC: Surging Gold Prices Drive Record Q2 Investment Demand

Investing 4 Mins Read

Global gold demand rose to a record US$132 billion in the second quarter of 2025, driven by surging investor appetite and the highest average gold price ever recorded in a quarter, according to the latest Gold Demand Trends report from the World Gold Council (WGC).

While total demand by volume rose only 3 percent year-on-year to 1,249 metric tons, the WGC noted a 45 percent surge in value terms compared to Q2 2024, as prices soared to an average of US$3,280.35 per ounce.

According to WGC data, investment flows, particularly into gold-backed exchange-traded funds (ETFs) and physical bars and coins, were the primary force behind the increase.

ETFs and bar demand dominate, Central Bank buying slows despite demand

Overall investment demand climbed 78 percent year-on-year in Q2, led by ETF inflows totaling 170 metric tons. Combined with Q1’s 227 metric tons, this brings first-half ETF demand to 397 metric tons—the strongest six-month performance since the record-setting H1 2020.

Bar and coin demand also remained robust, particularly in China and Europe, where investors responded to the rising price and gold’s traditional role as a store of value. Retail investment in China even surpassed jewellery consumption for the quarter, a reversal from previous years.

The WGC also noted that continued interest from global High Net Worth investors and reports of healthy institutional demand contributed to 170 metric tons of OTC investment and stock changes in Q2.

On the other hand, central banks added 166 metric tons of gold to official reserves in Q2, a decline of 33 percent quarter-on-quarter but still 41 percent above the average quarterly level seen between 2010 and 2021.

Although the pace of accumulation has slowed, the WGC maintains a constructive outlook. Data from recent central bank surveys show that the intention to add gold over the coming year remains strong.

Jewellery sector contracts, technology use slips on trade uncertainty

In stark contrast to investment flows, jewellery demand fell sharply in volume terms during Q2, with global consumption declining to 341 metric tons, 30 percent below the five-year average and the lowest since Q3 2020.

The WGC found that almost all 31 countries tracked saw a year-on-year decline in jewellery demand, with Iran as the sole exception.China and India, which typically account for over half the global market, saw their combined share drop below 50 percent for only the third time in five years.

Nonetheless, in value terms, jewellery demand rose 21 percent year-on-year to US$36 billion, highlighting the price-volume divergence that has grown more pronounced in 2025.

As for technological applications, demand for gold fell 2 percent year-on-year to 79 metric tons in Q2, with the electronics sector accounting for most of the decline.

The WGC noted that trade tensions, particularly the extension of US tariff uncertainties through August, weighed heavily on East Asian manufacturing sentiment.

Despite the broader slowdown, gold used in AI-related technologies remained an area of strength, offering a partial buffer to the decline in electronics applications.

Mine production hits new Q2 record

On the supply side, gold mine production rose to 909 metric tons in Q2, a new second-quarter record, helping lift total supply to 1,249 metric tons—a 3 percent year-on-year increase. Recycling activity also increased slightly, up 4 percent to 347 metric tons, the highest for any Q2 since 2011.

Still, the WGC observed that recycling remains “subdued relative to price performance,” due to strong holding behavior and limited signs of household financial distress.

Outlook through 2025

Looking to the second half of 2025, the WGC expects investment demand to remain firm, though possibly at a slower pace due to short-term dollar strength and resilient equity markets.

Still, the prospect of lower interest rates, which are widely expected to begin in Q4, could reignite momentum.

“Lower policy rates are likely to elicit more investor interest in gold from an opportunity cost perspective,” the report concluded.

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

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OTCQB Venture Virtual Investor Conference Agenda Announced for August 7th

Investing 3 Mins Read

 

Virtual Investor Conferences, the leading proprietary investor conference series announced the agenda for the OTCQB Venture Virtual Investor Conference to be held August 7 th .

 

Individual investors, institutional investors, advisors, and analysts are invited to attend.

  REGISTER HERE   

 

It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations, or schedule 1×1 meetings with management.

 

‘Now in its seventh year, the OTCQB Venture Investor Conference has become the go-to platform for innovative early-stage companies to connect directly with investors,’ said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. ‘It offers a unique window into the momentum and vision driving the next generation of public companies.’

 

  August 7   th  

 

                                             

  Eastern  
Time (ET)  		   Presentation     Ticker(s)  
  9:30 AM ET   Sparc AI Inc.   (OTCQB: SPAIF | CSE: SPAI)  
  10:00 AM ET   Surge Copper. Corp   (OTCQB: SRGXF | TSXV: SURG)  
  10:30 AM ET   ReGen III Corp.   (OTCQB: ISRJF | TSXV: GIII)  
  11:00 AM ET    Silver47 Exploration Corp.   (OTCQB: AAGAF | TSXV: AGA,OTC:AAGAF)
  11:30 AM ET   Nature’s Miracle Holding Inc.   (OTCQB: NMHI)  
  12:00 PM ET   Zero Candida Technologies Inc.   (OTCQB: ZCTFF | TSXV: ZCT)  
  12:30 PM ET   Oncotelic Therapeutics, Inc.   (OTCQB: OTLC)  
  1:00 PM ET   Telo Genomics Corp.   (OTCQB: TDSGF | TSXV: TELO)  
  1:30 PM ET   Zomedica Corp.   (OTCQB: ZOMDF)  
  2:00 PM ET   Metaguest.AI Incorporated   (OTCQB: MGSTF | CSE: METG)  
  2:30 PM ET   Waste Energy Corp.   (OTCQB: WAST)  
  3:00 PM ET   CleanGo Innovations Inc.   (OTCQB: CLGOF | CSE: CGII)  
  3:30 PM ET   Sekur Private Data Ltd.   (OTCQB: SWISF | CSE: SKUR)  
  4:00 PM ET   CyberCatch Holdings, Inc.   (OTCQB: CYBHF | TSXV: CYBE)  

 

 
To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com .

 

  About Virtual Investor Conferences   ®

 

Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

 

Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

 

  Media Contact:  
OTC Markets Group Inc. +1 (212) 896-4428,   media@otcmarkets.com   

 

  Virtual Investor Conferences Contact:  
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com  

 

   

 

 

News Provided by GlobeNewswire via QuoteMedia

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Columbia Sportswear sues Columbia University, alleging trademark infringement

Business 3 Mins Read

For decades, T-shirts, sweatshirts and other clothing under the Columbia Sportswear brand and clothing emblazoned with the Columbia University name coexisted more or less peacefully without confusion.

But now, the Portland-based outdoor retailer has sued the New York-based university over alleged trademark infringement and a breach of contract, among other charges. It claims that the university’s merchandise looks too similar to what’s being sold at more than 800 retail locations including more than 150 of its branded stores as well as its website and third-party marketplaces.

In a lawsuit filed July 23 in the U.S. District Court for the District of Oregon, Columbia Sportswear, whose roots date back to 1938, alleges that the university intentionally violated an agreement the parties signed on June 13, 2023. That agreement dictated how the university could use the word “Columbia” on its own apparel.

As part of the pact, the university could feature “Columbia” on its merchandise provided that the name included a recognizable school insignia or its mascot, the word “university,” the name of the academic department or the founding year of the university — 1754 — or a combination.

But Columbia Sportswear alleges the university breached the agreement a little more than a year later, with the company noticing several garments without any of the school logos being sold at the Columbia University online store.

Many of the garments feature a bright blue color that is “confusingly similar” to the blue color that has long been associated with Columbia Sportswear, the suit alleged.

The lawsuit offered photos of some of the Columbia University items that say only Columbia.

“The likelihood of deception, confusion, and mistake engendered by the university’s misappropriation and misuse of the Columbia name is causing irreparable harm to the brand and goodwill symbolized by Columbia Sportswear’s registered mark Columbia and the reputation for quality it embodies,” the lawsuit alleged.

The lawsuit comes at a time when Columbia University has been threatened with the potential loss of billions of dollars in government support.

Last week, Columbia University reached a deal with the Trump administration to pay more than $220 million to the federal government to restore federal research money that was canceled in the name of combating antisemitism on campus.

Under the agreement, the Ivy League school will pay a $200 million settlement over three years, the university said.

Columbia Sportswear aims to stop all sales of clothing that violate the agreement, recall any products already sold and donate any remaining merchandise to charity. Columbia Sportswear is also seeking three times the amount of actual damages determined by a jury.

Neither Columbia Sportswear or Columbia University couldn’t be immediately reached for comment.

This post appeared first on NBC NEWS

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Tech 5: Tesla and Samsung Strike Deal, Palo Alto to Acquire CyberArk

Investing 8 Mins Read

The stock market’s momentum from earlier this week, which saw the S&P 500 (INDEXSP:.INX) and the Nasdaq Composite (INDEXNASDAQ:.IXIC) reach new record highs, came to a halt on Friday (August 1).

Investors were reacting to a series of mixed tech earnings reports. Many were accompanied by cautious forward-looking guidance despite strong top-line numbers. This sentiment was further soured by fresh economic data out of the US showing that while employment remains strong, there are signs inflation is reaccelerating.

The most significant blow, however, came from geopolitical developments that reignited global trade tensions, prompting new fears of retaliatory tariffs and the potential for a renewed surge in inflation.

1. Samsung and Tesla strike deal

Tesla (NASDAQ:TSLA) CEO Elon Musk announced a US$16.5 billion deal with Samsung Electronics (HKEX:2814) that would see the electronics conglomerate produce AI6 semiconductors for the carmaker until 2033.

Production will take place at Samsung’s new fab in Taylor, Texas. The news led to a 6.8 percent rise in Samsung’s shares on Monday (July 28), as well as a 1 percent increase for Tesla. Last week, the carmaker saw its share price decline after reporting a 12 percent drop in revenue, marking its biggest quarterly decline in over 10 years.

Musk called the deal’s strategic importance “hard to overstate’ in a post on X. “Samsung agreed to allow Tesla to assist in maximizing manufacturing efficiency. This is a critical point, as I will walk the line personally to accelerate the pace of progress. And the fab is conveniently located not far from my house,” Musk added in another post.

“The $16.5B number is just the bare minimum,” he also said. “Actual output is likely to be several times higher.”

2. Bell Canada and Cohere partner on sovereign AI

BCE (TSX:BCE,NYSE:BCE) and Canadian artificial intelligence (AI) company Cohere announced a partnership on Monday that will see them work together to provide AI services to Canadian companies and government agencies.

The deal is focused on sovereign AI, meaning all data will stay within Canada.

“At a critical time for Canada, we’re proud to partner with Cohere to create a sovereign, full-stack AI solution, custom-built to support the Canadian government and business. Working together, we will both transform Canadian businesses through cutting-edge AI capabilities, while ensuring that the data remains secure and within Canada,” said Mirko Bibic, president and CEO of BCE, previously known as Bell Canada Enterprises.

“Our partnership with Bell Canada will provide the Canadian government and enterprises with world-class options for sovereign, security-first AI,’ added Aidan Gomez, co-founder and CEO of privately owned Cohere.

This has the potential to be truly transformative for organizations looking to massively increase their productivity and efficiency without any compromise on data security and privacy.’

Under the terms of the deal, Bell will provide the physical infrastructure, including its national network and data centers. Meanwhile, Cohere will provide its powerful AI models to offer a secure, all-in-one AI solution. This helps Canadian organizations adopt new technology. It also ensures their sensitive information is kept safe at home.

3. Palo Alto Networks to acquire CyberArk

On Wednesday (July 30), Palo Alto Networks (NASDAQ:PANW) announced plans to acquire Israeli AI cybersecurity firm CyberArk Software. The Wall Street Journal had reported on Tuesday (July 29) that they were in talks.

Under the terms of the agreement, CyberArk shareholders will receive US$45 cash and 2.2005 shares of Palo Alto per share of CyberArk. Palo Alto expects the transaction to be immediately accretive to its revenue growth and gross margin, and accretive to free cash flow per share in fiscal year 2028.

In a press release announcing the acquisition, Nikesh Arora, chairman and CEO of Palo Alto, said:

“Our market entry strategy has always been to enter categories at their inflection point, and we believe that moment for Identity Security is now. This strategy has guided our evolution from a next-gen firewall company into a multi-platform cybersecurity leader. Today, the rise of AI and the explosion of machine identities have made it clear that the future of security must be built on the vision that every identity requires the right level of privilege controls, not the ‘IAM fallacy’. CyberArk is the definitive leader in Identity Security with durable, foundational technology that is essential for securing the AI era. Together, we will define the next chapter of cybersecurity.”

Udi Mokady, founder and executive chairman of CyberArk, called the news a ‘profound moment in CyberArk’s journey,’ saying that they combination will accelerate the mission it began more than two decades ago.

Palo Alto Networks performance, July 29 to August 1, 2025.

Chart via Google Finance.

The deal is expected to close in the second half of Palo Alto’s 2026 fiscal year, subject to regulatory and CyberArk shareholder approval. Although Palo Alto hit a high of US$210.39 on Tuesday, shares of the company declined by 5 percent following the announcement and closed 17.83 percent below Tuesday’s high.

4. Microsoft, Meta, Amazon and Apple report quarterly results

Microsoft (NASDAQ:MSFT) ended its fourth fiscal quarter of 2025 with record revenue, driven by strong AI and cloud service growth. Microsoft Cloud revenue exceeded US$168 billion, a 23 percent increase, and Intelligent Cloud, including Azure, grew 26 percent to US$29.9 billion, with Azure up 39 percent. Although significant AI investments (over 100 million monthly Copilot users) caused a slight gross margin dip, the firm’s operating income rose 23 percent.

CEO Satya Nadella expressed confidence in long-term growth. For her part, CFO Amy Hood noted that commercial bookings surpassed US$100 billion; she anticipates double-digit revenue and operating income growth in the 2026 fiscal year, though data center capacity may remain constrained through the first half of the period.

Meta Platforms (NASDAQ:META) also had a positive Q2, with revenue up 22 percent to US$47.52 billion and net income up 36 percent to US$18.34 billion. Earnings per share rose 38 percent to US$7.14.

CEO Mark Zuckerberg highlighted the company’s focus on “personal superintelligence.”

The Family of Apps saw daily active people increase 6 percent to 3.48 billion, and advertising revenue grew with impressions up 11 percent and average price per ad up 9 percent.

Q3 revenue is projected to be US$47.5 billion to US$50.5 billion. However, regulatory challenges in the EU could impact European revenue. Meta is also heavily investing in AI and infrastructure, with 2025 capital expenditures narrowed to US$66 billion to US$72 billion, and similar growth expected in 2026.

Microsoft, Apple, Meta Platforms and Amazon performance, July 29 to August 1, 2025. 

Chart via Google Finance.

Amazon (NASDAQ:AMZN) delivered a strong second quarter, with overall net sales growing 13 percent year-on-year to $167.7 billion. The company’s net income also saw a significant increase, rising 35 percent year-on-year to $18.16 billion.

The growth was fueled by strong performance across all three of its major segments. The North America segment, which accounted for 60 percent of total net sales, saw a revenue increase of 11 percent year-on-year to $100.07 billion.

The International segment saw its net sales grow by 16 percent year-on-year to $36.76 billion, with a particularly notable 448 percent increase in operating income. Amazon Web Services continued its steady performance, with net sales reaching $30.87 billion, up 17 percent year-on-year. Despite its strong revenue growth, the company’s trailing 12 month free cashflow declined by 66 percent year-on-year to $18.18 billion.

Finally, Apple (NASDAQ:AAPL) posted strong results for its third fiscal quarter of 2025, with total net sales increasing to US$94.04 billion, up from US$85.78 billion in the same quarter last year.

The company’s net income rose to US$23.43 billion, an increase from US$21.45 billion year-on-year. This performance translated to earnings per share of US$1.57, up from US$1.40 in the prior year. The growth was primarily driven by its products and services, with the iPhone and Mac categories seeing notable increases in net sales. Apple’s services segment also continued its expansion, with sales rising to US$27.42 billion from US$24.21 billion a year ago.

5. Figma makes public debut

Figma’s highly anticipated initial public offering (IPO) generated significant buzz this week, with its share price and valuation surging dramatically on its first day of trading.

On Monday, Figma increased its IPO price range to US$30 to US$32 a share, up from US$25 to US$28. This new pricing valued the company at up to a US$18.7 billion market cap and a US$17.2 billion enterprise value. According to Bloomberg, people familiar with the matter indicated that the IPO was approaching 40 times oversubscribed.

The company had its first day of trading on the NYSE on Thursday (July 31).

Figma’s shares surged by 250 percent from US$33 to US$115 following a blockbuster IPO, with the company raising US$1.22 billion. Its market cap reached US$67 billion by the end of the market’s close. On Friday, Figma opened at US$134.82 before pulling back alongside other major tech stocks and risk assets to finish the week at US$122. Its debut surge and end-of-day valuation made it one of the largest and most successful tech IPOs in recent memory.

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

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Albemarle Swings to Profit, Lowers Spending Amid Prolonged Lithium Slump

Investing 3 Mins Read

Albemarle (NYSE:ALB), one of the world’s largest lithium producers, is cutting costs and narrowing its capital investment plans as it adjusts to ongoing weakness in lithium prices, even as demand from electric vehicle and energy storage sectors holds up better than expected.

The Charlotte-based company reported a second-quarter profit of US$22.9 million, a significant turnaround from the US$188.2 million loss it posted a year ago.

While total revenue fell 7 percent to US$1.33 billion, the figure still came in ahead of Wall Street’s US$1.22 billion estimate, buoyed by stronger-than-expected results in its specialties division and disciplined cost management.

“Our job is just to keep working on the things that are in our control, because we don’t really have a clear line of sight to where pricing is going,” Chief Financial Officer Neal Sheorey told investors Thursday.

Sheorey said Albemarle has reached its US $400 million annualized cost-savings and productivity target, citing measures such as supply chain restructuring and improved operations at lithium conversion and mining sites.

The company now expects to spend between US$650 million and US$700 million in capital expenditures for the full year, narrowing its previous guidance of US$700 million to US$800 million.

With lower spending and continued operational execution, Albemarle said it expects to achieve positive free cash flow for 2025—so long as current lithium prices, which have hovered around US$9 per kilogram, persist.

Lithium prices down, but demand remains resilient

Lithium prices have come off their historic highs of 2021–2022, when a global EV boom and constrained supply sent costs soaring above US$70 per kilogram.

But that surge spurred rapid supply growth, and by late 2022, the market entered a surplus. Prices have since declined sharply and now sit near levels that are not considered economically viable for many new or greenfield projects.

Despite the pricing downturn, Sheorey emphasized that demand for lithium has not collapsed. During the company’s earnings call, he maintained that demand has held up better than expected this year, pointing to robust growth in China and Europe that is offsetting a more subdued US market.

“The outlook in North America is less certain, particularly in the United States due to the potential impact of tariffs and the removal of the 30D tax credit in September,” Sheorey said, adding that the US accounts for only about 10 percent of global electric vehicle sales.

In contrast, EV sales in China rose 41 percent year-to-date, including a 44 percent jump in battery electric vehicles spurred by recent subsidies, while Europe also showed double-digit growth.

Still, Sheorey cautioned that pricing remains under pressure. “We continue to expect the full-year EBITDA margin [for energy storage] to average in the mid-20 percent range assuming our $9 per kilogram price scenario,”

According to Albemarle’s internal analysis, the market could return to balance as early as next year if current price levels persist. “New project development has begun to slow, while demand continues to be robust,” the company said. It estimates that demand growth could outstrip supply growth by up to 10 percent per year between 2024 and 2030.

Much of the company’s current optimism stems from performance at its integrated production and processing facilities, particularly due to strong volumes from Albemarle’s Wodgina mine and the Salar yield improvement project.

With lithium demand expected to more than double by 2030, Albemarle is betting that its investments in operational excellence and global reach will pay off once the market stabilizes.

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

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