Greenvale Energy (GRV:AU) has announced CEO Appointment
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White Cliff Minerals Limited (“WCN” or the “Company”) (ASX: WCN; OTCQB: WCMLF) is pleased to announce it has received firm commitments to raise approximately A$14.4m (before costs) through the issue of 384,615,398 new, fully paid ordinary shares in the Company. Utilising the “flow-through shares” provisions under Canadian tax law 307,692,321 shares will be issued at an issue price of A$0.0403 per share representing a 38.9% premium to WCN’s last trading price of A$0.029 (14 May 2025) for a total of A$12.40m (Flow-Through). Additionally, the Company has received firm commitments to raise $2 million (before costs) through a share placement to new and existing sophisticated and professional investors (Placement). 76,923,077 shares will be issued under the Placement at $0.026 per share, being a 10.3% discount to the Company’s last closing price before trading halt.
- Capital raise cornerstoned by the Company’s Strategic Advisor, John Hancock and his private family office, Astrotricha Capital SEZC.
- The capital raise was significantly oversubscribed and the Company received investment from a number of new Australian, United Kingdom, Hong Kong and Singaporean financial institutions as well as existing institutional and sophisticated shareholders
- Funds will be used to expand and accelerate drilling and exploration activities at the Company’s Rae Copper Project with drilling set to recommence from mid-July
- Drilling activities will include both reverse circulation and diamond drilling, providing the Company flexibility in its targeting approach
- Aerial and downhole geophysics are to be undertaken to further refine drill targets across the Rae Copper Project
- Following encouraging visual results, the Company expects to update shareholders on further assays results for holes 5, 6 and 7 at Danvers, expected to be received over the coming weeks
”The successful completion of this capital raise is a testament to the quality of our Rae Copper Project and the confidence that investors have in our exploration strategy. The ability to access the less dilutive flow through funds at a circa 40% premium is a huge advantage and value accretive for shareholders. Further, John Hancock and his Astrotricha Capital Family Office cornerstone position in the raise, along with the support of other high net worth investors introduced by Astrotricha, reflects their shared vison for the future of WCN and underpins the Company’s development plans for the Rae Copper Project.
The outlook for copper prices remains robust and the Company is poised to ramp up exploration efforts as we capitalise on its strong financial position following this raise, in addition to the ongoing conversion of WCNO options. Following recent high-grade results, this upcoming drilling at Danvers will lay the foundation for a maiden exploration target at the project over the coming period. We are very excited about the potential to delineate a material resource around the immediate drilling area at Danvers and to potentially encompass additional deposits along the regional 7km + strike.
In parallel, drilling will commence at the major sedimentary hosted copper target at Hulk. The pre collars that we have completed at Hulk sit only about 50mtrs above the target horizon and with diamond rigs planned to arrive in the coming months at which time we plan to drill all project areas and deliver on the potential for an additional major copper discovery at our Rae Project.”
Troy Whittaker – Managing Director
“Starting out as a Strategic Advisor to WCN with an initial invested stake, I have now become the Company’s largest shareholder and am pleased to see another well executed and strongly supported capital raise at a premium to the share price. The WCN focus has been on minimising existing shareholder dilution whilst attracting strategic investor capital to accelerate exploration and at the same time, securing the Company’s financial position for the longer term. There is now global investor interest in WCN’s prospects and I look forward to further upcoming drill results.”
John Hancock – Strategic Advisor to WCN
Click here for the full ASX Release
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Uvre Limited (ASX: UVA) (the Company or Uvre) is pleased to announce that highly regarded mining entrepreneurs Norman Seckold and Peter Nightingale will be appointed non-executive directors of Uvre with effect from settlement of the acquisition by the Company of 100% of the issued share capital of MEL (Acquisition). Norman Seckold and Peter Nightingale will emerge with 16.5% and 1.3% respective stakes in the Company upon settlement of the Acquisition and Equity Raise.
Highlights
- Uvre has signed a binding agreement to acquire 100% of the fully paid ordinary shares in the capital of Minerals Exploration Limited (MEL) from the shareholders of MEL (Vendors). MEL’s wholly owned subsidiary is New Zealand gold explorer Otagold Limited (Otagold).
- Highly regarded mining executives Norman Seckold and Peter Nightingale, who are major shareholders of MEL, will join Uvre as Non-executive Directors.
- Norman Seckold was previously Chairman of the New Zealand gold developer Santana Minerals (ASX:SMI) and is currently Chairman of Alpha HPA (ASX:A4N), Nickel Industries (ASX:NIC), Fulcrum Lithium (ASX:FUL) and Sky Metals (ASX:SKY).
- Subject to receipt of Shareholder approval, Uvre will issue 75 million fully paid ordinary shares in the capital of Uvre (Shares) at a deemed issue price of 8c per Share for a total of $6.0 million as the full consideration to the Vendors, including Mr Seckold who is the largest shareholder of MEL.
- The acquisition of MEL is subject to completion of several conditions precedent, including due diligence on MEL, Otagold and the permits held by Otagold. The acquisition is also contingent on Uvre raising at least $4.0 million in a single tranche share placement at 8c per Share, to be lead managed by Bell Potter Securities Ltd (Equity Raise). The Equity Raise will be subject to shareholder approval.
- Firm commitments have been secured for the $4.0m Equity Raise following a well-supported bookbuild, including incoming directors Norman Seckold ($500,000) and Peter Nightingale ($100,000) subject to shareholder approval.
- Otagold holds a 100% interest in three exploration permits, one prospecting permit and one prospecting permit application in New Zealand covering 332sqkm of highly prospective ground (the Permits).
- Otagold’s flagship asset is the Waitekauri Gold Project located 8km west of OceanaGold Corporation’s Waihi gold mine (10Moz) on New Zealand’s North Island; Waitekauri also sits adjacent to three other +1Moz Au deposits.
- Extensive gold mineralisation and numerous drilling targets already identified at Waitekauri, which had historical production grade of 48g/t Au+Ag.
- Uvre has executed a binding Share Sale Agreement (SSA) with the Vendors, MEL and Otagold with due diligence well advanced; Uvre will shortly call a shareholder meeting to approve the transaction, expected to be around the end of June 2025.
Uvre Executive Chairman Brett Mitchell said:
“This transaction is an exceptional opportunity for Uvre on several levels.
“Norm and Peter will bring a wealth of knowledge and experience in the resources business, along with a track record of creating substantial shareholder value through resource asset exploration and proįect development.
“The Otagold proįects led by Waitekauri have compelling gold exploration upside in a tier-one įurisdiction, as shown by the extensive mineralisation and drilling targets already identified.
“The combination of Norman’s well-known record in building successful mining proįects combined with the talented Uvre team, the immense exploration upside at these proįects and the strong financial position which will follow the placement will leave Uvre very well-placed to create significant value”.
Norman Seckold said:
“This transaction will enable Uvre to unlock what we believe is the substantial value of these proįects.
“We will have the assets, the team, the experience and the financial strength to conduct the immediate exploration programs which will maximise our ability to create value.
“The work we have already done on the proįects shows they are highly prospective and with the support of the Uvre team and access to capital, we can take them to the next level with the aim of building substantial gold inventories in a tier one location”.
Otagold Projects Summary
Otagold holds a 100% interest in three exploration permits, one prospecting permit and one prospecting permit application on New Zealand’s North and South Islands, covering 332km2 of highly prospective ground.
Click here for the full ASX Release
This article includes content from Uvre Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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Astute Metals NL (ASX: ASE) (“ASE”, “Astute” or “the Company”) is pleased to report assay results from the first of six holes completed as part of its highly successful April 2025 diamond drilling campaign at the 100%-owned Red Mountain Lithium Project in Nevada, USA. Drill-hole RMDD003 has returned three high- grade intersections of lithium mineralisation:
- 32.4m @ 3,260ppm Li / 1.74% Lithium Carbonate Equivalent1 (LCE) from 57.2m, including an internal high-grade zone grading 8.6m @ 5,060ppm Li / 2.69% LCE from 67.7m;
- 13.8m @ 1,330ppm Li / 0.71% LCE from 39.6m; and
- 23.3m @ 1,610ppm Li / 0.86% LCE from 94.4m to End-of-hole.
Key Highlights
- Outstanding lithium mineralisation returned in assays for diamond drill-hole RMDD003, which intersected:
- 32.4m @ 3,260ppm Li from 57.2m, including 8.6m of ultra high-grade mineralisation @ 5,060ppm Li from 67.7m;
- 13.8m @ 1,330ppm Li from 39.6m; and
- 23.3m @ 1,610ppm Li from 94.4m to end-of-hole
- RMDD003 marks the highest-grade lithium intercept recorded to date at Red Mountain.
- Mineralisation successfully extended 630m north of previous northernmost intersection in hole RMDD002.
- Hole ends in lithium, with mineralisation remaining open down-dip to the east and along strike to the north.
- Assays pending from five other recently completed drill- holes.
To hear CEO Matt Healy discuss this ASX Release click here
The thick zones of lithium mineralisation encountered in the northernmost drill-hole at Red Mountain highlight the increasing scale of the project, with strong lithium mineralisation now intersected in all drill- holes spanning a north-south strike extent of over 5.6km and surface sample geochemistry indicating further potential to the north, south and west of the current drilled extents7, 9 (Figure 3).
Of particular significance in hole RMDD003 is the high-grade nature of the mineralisation. The nearest drill-hole is RMDD002, which intersected 32.1m @ 2,050ppm within a broader 86.9m intersection at 1,470ppm Li from 18.3m. The high-grade zone in RMDD002 has persisted north to RMDD003, and increased in grade significantly to over 3,000ppm lithium.
Assays are pending for the other five holes drilled as part of the April diamond drilling campaign.
Astute Chairman, Tony Leibowitz, said:
“Our 2025 exploration campaign is off to a fantastic start, with exceptional assays returned for the first step-out diamond hole, RMDD003. We are impressed by the thickness and grade of the mineralisation, with the high-grade intercept returned from this hole showing that the previously identified high-grade zone extends for a considerable distance to the north.
“This provides further indication that Red Mountain is unfolding as a lithium discovery of significance in North America. With mineralisation now defined by drilling over a strike length of almost 6 kilometres, we are looking forward to seeing what the remaining drill-holes will deliver. The information obtained from this round of drilling should put us on a clear trajectory to advance Red Mountain towards a maiden JORC Mineral Resource Estimate later this year.”
Background
Located in central-eastern Nevada (Figure 4) adjacent to the Grand Army of the Republic Highway (Route 6), which links the regional mining towns of Ely and Tonopah, the Red Mountain Project was staked by Astute in August 2023.
The Project area has broad mapped tertiary lacustrine (lake) sedimentary rocks known locally as the Horse Camp Formation2. Elsewhere in the state of Nevada, equivalent rocks host large lithium deposits (see Figure 4) such as Lithium Americas’ (NYSE: LAC) 62.1Mt LCE Thacker Pass Project3, American Battery Technology Corporation’s (OTCMKTS: ABML) 15.8Mt LCE Tonopah Flats deposit4 and American Lithium (TSX.V: LI) 9.79Mt LCE TLC Lithium Project5.
Astute has completed substantial surface sampling campaigns at Red Mountain, which indicate widespread lithium anomalism in soils and confirmed lithium mineralisation in bedrock with some exceptional grades of up to 4,150ppm Li2,8 (Figure 3).
A total of 13 RC and diamond drill holes have been drilled at the project for a combined 1,944m, prior to this current drilling program. These campaigns were highly successful, intersecting strong lithium mineralisation in every hole9.
Scoping leachability testwork on mineralised material from Red Mountain indicates high leachability of lithium of up to 98%, varying with temperature, acid strength and leaching duration, and proof of concept beneficiation test-work has indicated the potential to upgrade the Red Mountain mineralisation10,11.
Results
Hole RMDD003 successfully intersected three zones of lithium mineralised clay-bearing mudstones and sandstone, separated by narrow zones of unmineralised rocks (Figure 1). The intersections are as follows:
- 13.8m @ 1,330ppm Li / 0.71% LCE from 39.6m to 53.4m;
- 32.4m @ 3,260ppm Li / 1.74% LCE from 57.2m to 89.6m; and
- 23.3m @ 1,610ppm Li / 0.86% LCE from 94.4m to End-of-hole (117.7m).
The best grades were developed in the most clay-rich zones (Figure 2). An internal very high-grade zone of 8.6m returned a grade of 5,060ppm Li, with a maximum single sample grade of 5,660ppm Li from 69.2-70.7m (227-232ft), which is the drill sample with the highest lithium grade achieved to date at the project.
Click here for the full ASX Release
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As the global energy transition accelerates, the mining sector is increasingly navigating a complex landscape of shifting demand, volatile prices and growing sustainability priorities.
During an S&P Global webinar on the state of the mining industry in Q1, analysts highlighted renewable power development and mine-site electrification as key sustainability drivers shaping the future of resource extraction.
Copper, a key component of the energy shift, remains a focal point, with average prices holding at US$9,412 per metric ton in the first quarter, though forecasts suggest a slight decline to US$9,317 by year end.
Meanwhile, the battery metals space continues to feel the squeeze.
Lithium prices slumped to US$9,000 per metric ton, leaving an estimated 27 percent of producers operating at a loss, according to S&P. Cobalt held above US$14 per pound, bolstered by the Democratic Republic of Congo’s export ban.
Nickel, driven by surging Indonesian output, is forecast to fall to US$15,730 per metric ton.
The webinar also touched on broader sector dynamics, including ongoing trade tensions, subdued financing activity and an uptick in M&A as companies reposition for long-term growth amid tightening supply and geopolitical uncertainty.
Copper supply disrupted, green demand bolstered
As mentioned, copper prices are expected to dip slightly to US$9,317 by year end.
While positive drivers like a weaker US dollar and resilient Chinese demand are offering some support, refined production cuts, bad weather in Chile and smelter challenges have added pressure to the global supply chain.
Notably, production disruptions in Chile — including a national blackout and Glencore’s (LSE:GLEN,OTC Pink:GLCNF) partial suspension at Altonorte — along with declining US consumer confidence, have led S&P to revise its US refined copper demand growth forecast down to just 1.5 percent for the year. Meanwhile, tightness in the concentrate market has sent spot treatment charges to record lows, amplifying strain on smelter margins.
“(A) developing demand driver for copper is the increasing demand from the green energy transition,’ said Naditha Manubag, associate research analyst, metals and mining research, at S&P Global Commodity Insights.
‘Despite the intensifying US-China trade disputes, copper demand in China has shown resilience, with copper concentrate imports growing by 10 percent in Q1 and cathode imports increasing month-over-month.’
Lithium, cobalt and graphite markets under pressure
In contrast, the battery metals space continues to reel from oversupply and weak pricing. Lithium carbonate CIF Asia dropped to just US$9,000, the lowest level seen since 2021.
“Overcapacity will continue to limit lithium prices until the next decade,” said Manubag. “With this, we have lowered the lithium carbonate CIF Asia price in 2025 to US$9,031. And using this price assumption, 27 percent of lithium operations will be loss-making on a total cash operating margin basis.”
Prices are expected to dip further to US$8,600 in Q3 before a modest recovery in 2027.
The cobalt market, while supported by the Democratic Republic of Congo’s export ban, is forecast to remain in surplus through 2025, though prices are likely to hold above US$14.
“The Democratic Republic of Congo accounts for over 70 percent of global cobalt mine output, yet its ongoing export ban is unlikely to trigger significant production cuts,” the analyst said, adding that the stockpiled supply is expected to re-enter the market once the ban lifts — supporting a sustained price recovery.
Cobalt hydroxide prices have surged the most since the ban began due to tightening supply, and cobalt prices are expected to remain above US$14 through 2025. However, elevated prices may accelerate the trend toward substituting cobalt in battery chemistries as the lithium market braces for further cuts.
Meanwhile, graphite prices are under pressure despite tightening Chinese export controls.
China’s December export ban on key critical minerals, including gallium and germanium, has prompted tighter scrutiny on graphite exports to the US. With China supplying roughly half of America’s antimony and natural graphite imports, pressure on prices has mounted as Tanzanian supply grows, but export options narrow.
Despite current oversupply, a structural deficit is forecast in the medium to long term.
“Spot prices for natural graphite have come under further pressure,” Manubag said. “(US President Donald) Trump’s Section 232 probes import dependence on processed graphite, supporting US anode projects.”
As such, S&P sees US capacity growing to 236,000 metric tons in 2028.
“We maintain our view that continued high feedstock cost on the synthetic anode supply chain could support fine flake and spherical graphite prices,’ the expert added.
Gold leads Q1 mining M&A
M&A in the mining sector slowed sharply in Q1, with both the number and value of deals declining.
Although gold transactions accounted for 86 percent of total M&A value, overall gold deal value dropped 62 percent quarter-over-quarter to US$4.02 billion. In the lead for the period was Equinox Gold’s (TSX:EQX,NYSEAMERICAN:EQX) planned US$1.87 billion takeover of Calibre Mining (TSX:CXB,OTCQX:CXBMF).
Nickel followed, with MMG’s (OTC Pink:MMLTF,HKEX:1208) US$500 million acquisition of Anglo American’s (LSE:AAL,OTCQX:AAUKF) nickel business, including producing assets like Barro Alto and Codemin.
In copper, the top transaction was Hudbay Minerals’ (TSX:HBM,NYSE:HBM) purchase of Mitsubishi Materials’ (OTC Pink:MIMTF,TSE:5711) remaining stake in the Copper Mountain mine for US$44.3 million.
“Gold deals are expected to continue leading M&A activity as the metal maintains its safe-haven appeal amid global trade uncertainty,” Gian Seblos, associate research analyst, metals and mining research, at S&P Global Commodity Insights, said during this week’s webinar. He added, “Meanwhile, cash-rich producers may drive consolidation in base metals, either to secure future output or diversify amid shifting trade dynamics.”
Capital raised by mining companies surged to US$11.92 billion — doubling from the previous quarter and marking the second consecutive quarter of growth following the US Federal Reserve’s December rate cut. Debt financing jumped to 65 percent of total capital raised, up from 35 percent previously, fueled by a surge in senior debt offerings.
Major mining companies led the charge, raising US$7.57 billion — nearly six times more than Q4 2024.
Juniors saw a 25 percent increase, raising US$3.48 billion. Gold companies captured half of the funding, followed by those focused on base metals (33 percent) and specialty commodities (17 percent).
Regionally, Asia and the Middle East posted a 331 percent gain to US$1.58 billion, primarily driven by Saudi Arabia’s Ma’aden through two non-convertible bond offerings worth US$1.25 billion.
Africa and Europe also saw strong growth, while Australia, Canada and the US experienced declines.
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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Newly elected Canadian Prime Minister Mark Carney announced his cabinet on Tuesday (May 13). Among his selections was Tim Hodgson, the Member of Parliament from Markham-Thornhill, as the new Minister of Energy and Natural Resources.
Hodgson’s portfolio will involve overseeing Canada’s resource sector. His selection has been seen as a nod to Alberta’s oil and gas sector due to his time serving as a board member of MEG Energy (TSX:MEG,OTC Pink:MEGEF), an oilsands producer based in Calgary.
Hodgson also spent time running Goldman Sachs’ (NYSE:GS) Canadian operations, where he advised the Bank of Canada during Carney’s tenure as the central bank’s governor.
South of the border, the United States Bureau of Labor Statistics released April’s consumer price index (CPI) data on Tuesday, reporting that all-items inflation rose by 0.2 percent on a monthly basis, as did core CPI, which doesn’t include the volatile food and energy categories.
The figures indicate a reversal in the deceleration seen over the past few months. During that time, all-items inflation slowed from a 0.5 percent increase in January to a 0.2 percent gain in February before recording a 0.1 percent decline in March. Similarly, core CPI had slowed to a 0.1 percent increase in March.
On an annualized basis, CPI posted a 2.3 percent increase, down from the 2.4 percent recorded in March. However, core CPI remained steady at 2.8 percent.
Markets and commodities react
In Canada, major indexes were mixed at the end of the week.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 2.07 percent during the week to close at 25,971.93 on Friday, the S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 1.93 percent to 672.84 and the CSE Composite Index (CSE:CSECOMP) shed 0.5 percent to 119.01.
US equities were in positive territory this week, with the S&P 500 (INDEXSP:INX) gaining 2.6 percent to close at 5,958.37, the Nasdaq-100 (INDEXNASDAQ:NDX) rising 2.88 percent to 21,412.91 and the Dow Jones Industrial Average (INDEXDJX:.DJI) adding 1.8 percent to 42,654.75.
The gold price was in decline this week, posting a loss of 3.75 percent, to close Friday at US$3,199.69. The silver price was also down, shedding 1.37 percent during the period to US$32.28.
In base metals, the COMEX copper price fell 2.34 percent over the week to US$4.60 per pound. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) posted a small gain of 0.31 percent to close at 533.11.
Top Canadian mining stocks this week
How did mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Canadian mining stocks below.
Stock data for this article was retrieved at 3 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.
1. Foremost Clean Energy (CSE:FAT)
Weekly gain: 133.11 percent
Market cap: C$29.88 million
Share price: C$3.45
Foremost Clean Energy is a uranium explorer advancing projects in Saskatchewan’s Athabasca Basin. In 2025, its primary focus has been its Hatchet Lake property, part of its Eastern Athabasca projects. The site consists of nine mineral claims within two blocks covering an area of 10,2012 hectares and has seen exploration dating back to the 1960s.
Foremost announced in October 2024 that it had completed the first phase of an option agreement with Denison Mines (TSX:DML,NYSEAMERICAN:DNN) to acquire a 20 percent stake in 10 uranium properties, including Hatchet Lake, in exchange for 1.37 million common shares. Under the terms of the agreement, Foremost can earn up to a 70 percent stake in the properties in exchange for meeting certain milestones within 36 months.
Shares in Foremost have gained after making several positive exploration announcements over the past few weeks.
On May 1, Foremost announced a new uranium discovery at Hatchet Lake based on initial results from an ongoing inaugural drill program. The company said the discovery includes multiple intervals of mineralization, highlighting one grading 0.22 percent equivalent U3O8 over 0.9 meters, including two intersections of 0.1 meters grading 0.58 percent and 0.5 percent.
Follow up information from the program was released on Thursday (May 15) when Foremost reported anomalous radioactivity was detected in 6 out of 10 completed drill holes. After receiving the preliminary results, the company expanded its program from the original eight hole, 2,000 meter program to a 10 hole, 2,400 meter program. Assay results remain pending.
2. Anfield Energy (TSXV:AEC)
Weekly gain: 50 percent
Market cap: C$10.27 million
Share price: C$0.09
Anfield Energy is a uranium and vanadium development company working to advance several projects in the United States.
Among them is its Velvet-Wood project located in Lisbon Valley, Utah, a region with historic uranium exploration and production. The site itself hosts underground infrastructure that was used to recover approximately 4 million pounds of uranium oxide between 1979 and 1984.
According to a January 2023 preliminary economic assessment, the site hosts a measured and indicated resource of 4.64 million pounds of uranium oxide equivalent from 811,000 metric tons of ore at an average grade of 0.29 percent, as well as an inferred resource of 8.41 million pounds of uranium oxide equivalent from 1.84 million metric tons at 0.24 percent.
The report also showed an inferred vanadium oxide resource of 54.4 million pounds from 2.65 million metric tons of ore at an average grade of 1.03 percent.
Shares in Anfield gained this week after it announced on Tuesday that the US Department of the Interior selected Velvet-Wood for expedited environmental permitting as part of the government’s FAST-41 initiative to bolster domestic mineral production. Under the expedited process, the Bureau of Land Management has been directed to complete its review of the project within 14 days.
3. Roscan Gold (TSXV:ROS)
Weekly gain: 44.44 percent
Market cap: C$30 million
Share price: C$0.065
Roscan Gold is an exploration and development company working to advance its Kandiole gold project in the Republic of Mali. The company’s permits cover an area of 288.8 square kilometers and host several mineralized targets.
Kandiole hosts an indicated mineral resource of 1.02 million ounces of gold from 27.4 million metric tons at an average grade of 1.2 grams per metric ton (g/t) gold, and an inferred resource of 200,000 ounces from 5.2 million metric tons at 1.2 g/t.
Roscan has focused on de-risking its project as it moves towards obtaining a mining permit, and spent much of 2024 raising funds. The latest funding announcement came in October 2024 when Roscan closed a non-brokered private placement for gross proceeds of C$2 million. At the time, the company said it would use the funds for general working capital and exploration and development at the Kandiole project.
The most recent news release from Roscan came on March 10 when it welcomed an announcement by the Government of Mali that lifts the partial suspension of the processing of mining license applications. The company said the decision marks a milestone for de-risking the Kandiole gold project.
License applications in Mali had been suspended since 2022. At the time, the military government, which took power in 2021, said the action was to improve the issuance process and better serve the industry.
4. Baru Gold (TSXV:BARU)
Weekly gain: 44.44 percent
Market cap: C$19.55 million
Share price: C$0.065
Developer Baru Gold is advancing its Sangihe gold project in Indonesia. The company holds a 70 percent stake in the 42,000 hectare project, with the remaining 30 percent interest held by three Indonesia-based companies.
Baru Gold is progressing toward approval of its production operations plan, which was redesigned due to the significant macroeconomic shift and increase in the gold price since its last resource estimate in May 2017.
On February 14, the company published a technical report with an updated resource estimate. The resource estimate demonstrates an indicated resource of 114,000 ounces of gold and 1.93 million ounces of silver from 3.15 million metric tons of ore with grades of 1.12 g/t gold and 19.4 g/t silver. The project also hosts an inferred resource of 91,000 ounces of gold and 1.08 million ounces of silver from 2.3 million metric tons of ore with grades of 1.22 g/t gold and 14.5 g/t silver.
The update marks a significant step toward government approval for production operations status, with the only remaining requirement being the payment of taxes.
On Thursday, Baru announced it entered into an arm’s length binding preliminary collaboration agreement with Quantum Metal Thailand, a gold ecommerce platform, which would invest up to US$100 million in Baru as part of an offtake and funding collaboration. Baru said the funding would be used to enhance its gold production and refining capacity to a purity rate of 99.99 percent.
Under the terms of the potential deal, funding would be broken down into an initial investment worth up to US$30 million, and subsequent tranches worth US$10 million. Baru will repay the amount with refined gold based on the London Bullion Market Association gold price, with the first tranche discounted at 30 percent and remaining tranches discounted at 20 percent.
Once production commences, Quantum will also receive 20 percent of the company’s monthly refined gold production until the investment is fully repaid.
5. Talon Metals (TSX:TLO)
Weekly gain: 42.86 percent
Market cap: C$140.21 million
Share price: C$0.15
Talon Metals is an exploration and development company working to advance its Tamarack North polymetallic project in Minnesota, US. Talon owns a 51 percent stake in the 31,000 acre project, with Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) owning the remaining 49 percent.
A technical report released in November 2022 reported a total indicated resource of 8.56 million metric tons of ore at an average grade of 1.73 percent nickel and 0.92 percent copper, 0.05 percent cobalt, 0.34 g/t platinum, 0.21 g/t palladium and 0.15 g/t gold.
Talon has been working through 2024 and 2025 to expand the resource at the project. On May 1 the company announced the highest grade intercept encountered at Tamarack: 8.25 meters at 12.62 percent nickel, 13.88 percent copper, 0.12 percent cobalt, 4.7 g/t palladium, 7.08 g/t platinum, 6.17 g/t gold and 44.31 g/t silver.
The company followed up with further significant news on Monday (May 12), announcing a drill hole encountered 34.9 meters of cumulative massive nickel mineralization over a total length of 47.33 meters.
Brian Goldner, Talon’s chief exploration and operations officer, commented, “In my 19 years working on the Tamarack Project, I’ve never seen anything like this. This 34.9 meter intercept of high-grade massive sulphide isn’t just the longest ever recorded at Tamarack, it’s a defining moment.”
FAQs for Canadian mining stocks
What is the difference between the TSX and TSXV?
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
How many mining companies are listed on the TSX and TSXV?
As of February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 companies, with 181 of those being mining companies.
Together the TSX and TSXV host around 40 percent of the world’s public mining companies.
How much does it cost to list on the TSXV?
There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.
The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.
These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.
How do you trade on the TSXV?
Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.
Article by Dean Belder; FAQs by Lauren Kelly.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
This post appeared first on investingnews.com
(TheNewswire)
Vancouver, British Columbia May 16, 2025 TheNewswire Allied Critical Metals Inc. (formerly Deeprock Minerals Inc.) (CSE: ACM) (OTCQB: 0VJ0) (the ‘ Company ‘ or the ‘ Resulting Issuer ‘) is pleased to provide a corporate update as to its updated uses of funds updating the disclosure in its Listing Statement dated April 23, 2025 (the ‘ Listing Statement ‘) which is publicly available under the Company’s profile on SEDAR+ at www.sedarplus.ca, to better reflect the actual results of concurrent financing (‘ Concurrent Financing ‘) of approximately $4.6 million announced by the Company on March 25, 2025 and corresponding updated uses of funds.
The following provides an outline of the Company’s principal purposes of funds, which updates the disclosure in the Listing Statement.
Principal Purposes of Funds
The Company intends to use the funds available to it upon completion of the Company’s transactions (the ‘Transactions ‘) for listing (the ‘Listing’) on the Canadian Securities Exchange (the ‘CSE’) to further its business objectives. Specifically, the Company intends to use the funds available to it following compl etion of the Transactions over the next 12 months as follows:
|
Use of Proceeds |
Estimated Amount |
Estimated Amount |
Resulting Amount |
Variation from maximum $5.0 million Concurrent Financing |
|
Exploration [1] |
||||
|
Borralha – Phase 1 |
$492,600 |
$492,600 |
$492,600 |
$0 |
|
Borralha – Phase 2 [2] |
– |
$1,503,200 |
$1,503,200 |
$0 |
|
Vila Verde – Phase 1 [3] |
– |
$226,000 |
– |
($226,000) |
|
Vila Verde – Phase 2 [4] |
– |
$1,066,835 |
– |
($1,066,835) |
|
Prepayment on 2027 Note [5] |
$100,000 |
$100,000 |
$100,000 |
$0 |
|
12 months general and administrative costs [6] |
$182,000 |
$182,000 |
$180,000 |
($2,000) |
|
Estimated transaction costs [7] |
$250,000 |
$250,000 |
$250,000 |
$0 |
|
Investor Relation Services [8] |
– |
– |
$885,500 |
$885,500 |
|
Additional working capital [9] |
$496,035 |
– |
$231,866 |
$231,866 |
|
Totals: |
$1,520,635 |
$3,820,635 |
$3,574,811 |
($245,824) |
Notes:
-
The Exploration is comprised of the recommended work programs for the Borralha Tungsten Project and the Vila Verde Tungsten Project, which are summarized in the Listing Statement. For more detail, please see the Borralha Technical Report and the Vila Verde Technical Report.
-
Phase 2 of the recommended work program for Borralha was estimated at $1,503,200.
-
The Company prioritises exploration of Borralha over Vila Verde, but once exploration of Borralha is addressed and if there are sufficient remaining funds then such funds may be allocated towards exploration at Vila Verde, which totals $226,000 for Phase 1 and $1,066,835 for Phase 2. As a portion of drilling expenses are expected to be settled in common shares, the Company expects that there will be sufficient available funds to begin exploration at Vila Verde.
-
The total cost for Vila Verde’s Phase 2 work program is $2,279,000, but if drilling expenses are partly settled in common shares there may be sufficient funds available to commence Phase 2 of the Vila Verde work program following completion of Phase 1.
-
On Closing, ACM must pay $100,000 to Pan Iberia as a prepayment of the 2027 Note. The funds available is already net of payment of short term promissory notes, which are paid on Listing and are related to repayment of mineral property license fees and acquisition of the 1% NSR.
-
The 12 months general and administrative costs are expected to include $35,000 for audit and accounting expenses, $15,000 for regulatory, $45,000 for legal fees, $61,645 for investor conferences marketing fees and expenses, and $23,355 contingency for other general and administrative matters. The budget for management fees ($72,000) was reallocated to Borralha exploration as they pertain to license regulatory expenditure and other work in Portugal in respect of Borralha and the $60,000 budget for legal fees was adjusted to $45,000.
-
The Transaction costs includes $170,000 legal expenses, $20,000 for the subscription receipt and warrant agent and CDS, $40,000 for CSE listing fees, and $20,000 filing fees and contingency.
-
Since completion of the Listing, the Company has reallocated $885,500 fixed fees for investor relations services, as described in the Company’s news release dated May 2, 2025. A further amount of up to $15,560 per month variable cost of investor relations was allocated as additional working capital as such services will be terminated to limit costs within budgeted amounts. A discussion of the rationale for the allocation to investor relations services is provided below.
-
Additional working capital will be deployed towards exploration of Borralha, then Vila Verde, and as working capital for expenses, which may include variable monthly expenses of up to $72,000 for market making ($6,000 per month) and other such expenses for investor relations services.
Prioritizing Borralha Exploration – Rationale for Changes to Uses of Proceeds
As previously disclosed in the Listing Statement (Section 3.3—Resulting Issuer), the Company is prioritizing exploration of Borralha as such exploration enables completion of a preliminary economic assessment( PEA) or prefeasibility study( PFS) for Borralha by the end of summer 2025. In particular, the above use of funds will enable the Company to complete Phase 1 and Phase 2 exploration of Borralha by the end of August 2025. Drilling is expected to commence at Borralha as soon as May 22, 2025.
Borralha is a brownfield past-producing advanced stage, near term production tungsten project which requires a proportionate approach to investor relations to adequately position the Company for the next stage of development. Accordingly, total funds of $885,500 (less than one fifth of the Concurrent Financing) were allocated for investor relations services to sufficiently position the Company’s profile for more significant capital raising following completion of the PEA/PFS this summer to prepare for eventual project financing. Funds allocated to investor relations are aimed at direct interactions with potential capital providers and market participants in the critical metals and tungsten markets to fast track the development and construction the Borralha as a key western source of global tungsten production, highlighting the Company’s profile as particularly well-placed to become a significant leader in global tungsten mineral exploration and development in Portugal. While global macro-economic and political factors are creating an excellent positive environment for the Company with tungsten prices rising 25% from $320/MTU (metric tonne unit) to $400/MTU over the past five months [Source: Fastmarkets, May 2025], tungsten remains a lesser known niche critical mineral in the capital markets community. Accordingly, the Company in consultation with its financial advisors, have developed a strategy to accelerate increased profile recognition in the lead up to completion of its PEA/PFS in the coming months. The Company is excited to begin the next chapter of development of its Borralha and Vila Verde Tungsten Projects and look forward to providing updates as drilling and further exploration progresses over the coming weeks and months.
The Company intends to spend the funds available to it on completion of the principal purposes described above. Nevertheless, there may also be circumstances where, for sound business reasons, a reallocation of funds may be necessary for the Company to achieve its short term and long term objectives. The Company may require additional funds in order to fulfill all of the Company’s objectives, in which case the Company expects to either issue additional shares or incur indebtedness. It is anticipated that the available funds will be sufficient to satisfy the Company’s objectives over the next twelve months.
New CFO
In addition, the Company is pleased to announce Sean Choi as its new Chief Financial Officer who replaces Keith Margetson who has stepped down effective May 14, 2025. The Company greatly appreciates all of Keith’s efforts in completing the Transactions as Chief Financial Officer for the Company since April 2023, and Keith will remain a consultant to the Company to provide assistance as necessary going forward.
Mr. Choi has over 19 years of experience in public accounting and mining industry. During his career, he has served as Chief Financial Officer of Ecuador Gold and Copper Corp. and Northern Sun Mining Corp. which were both reporting issuers listed on the TSX Venture Exchange. He also served as Chief Financial Officer of York Harbour Metals (TSXV: YORK) from April 2014 to June 2024. Sean is a Chartered Professional Accountant and Chartered Accountant (Ontario) and holds a Bachelor of Administrative and Commercial Studies degree from the University of Western Ontario.
The Company also hereby announces the grant of 3,500,000 stock options (the ‘ Options ‘) at an exercise price of $0.22 per share granted to directors, officers, employees and consultants of the Company pursuant to its omnibus equity incentive plan, which vests immediately and expire 5 years after the date of grant. The Company also announces that it has granted 4,097,760 restricted share units (‘ RSUs ‘) to directors, officers, employees and consultants of the Company pursuant to its omnibus equity incentive plan, which vests on September 16, 2025.
The Options and RSUs will be subject to a four month hold period in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange.
ABOUT Allied Critical Metals INC.
The Company is is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of this unique metal. Currently, China and Russia represent approximately 90% of the total global supply and reserves. The Tungsten market is estimated to be valued at approximately $5 – $6 billion USD and it is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.
Please also visit our website at www.alliedcritical.com.
Also visit us at:
LinkedIn: https://www.linkedin.com/company/allied-critical-metals-inc/
X: https://x.com/@alliedcritical/
Facebook: https://www.facebook.com/alliedcriticalmetalscorp/
Instagram: https://www.instagram.com/alliedcriticalmetals/
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains ‘forward-looking statements’, including with respect to the use of proceeds. Wherever possible, words such as ‘may’, ‘would’, ‘could’, ‘should’, ‘will’, ‘anticipate’, ‘believe’, ‘plan’, ‘expect’, ‘intend’, ‘estimate’, ‘potential for’ and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company’s management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company’s Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company’s profile at www.sedarplus.ca ). Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and terms of the investor awareness campaign, anticipated benefits to Company from running the investor awareness campaign, and the performance of the investor relations services providers of the marketing services as contemplated in the marketing agreements, or at all. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements and reference should also be made to the Company’s Listing Statement dated April 23, 2025 , and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this press release and has neither approved now disapproved the contents of this press release.
ON BEHALF OF THE COMPANY
‘Roy Bonnell’
Chief Executive Officer and Director
For further information, contact:
Dave Burwell
VP Corporate Development
¿¿ daveb@alliedcritical.com
¿¿ 403-410-7907
Copyright (c) 2025 TheNewswire – All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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Here’s a quick recap of the crypto landscape for Friday (May 16) as of 4:00 p.m. UTC.
Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin and Ethereum price update
Bitcoin (BTC) was priced at US$104,223 as markets closed, up 1 percent in 24 hours. The day’s range for the cryptocurrency has seen a low of US$102,935 and a high of US$104,291.
Bitcoin performance, May 16, 2025.
Chart via TradingView.
Ethereum (ETH) finished the trading day at US$2,592.45, a 1.2 percent increase over the past 24 hours. The cryptocurrency reached an intraday low of US$2,527.33 and saw a daily high of US$2,631.38.
Altcoin price update
- Solana (SOL) closed at US$171.79, down 0.3 percent over 24 hours. SOL experienced a low of US$168 and a high of US$173.98.
- XRP is trading at US$2.42, reflecting a slight 1.5 percent decrease over 24 hours. The cryptocurrency reached a daily low of US$2.37 and a high of US$2.50.
- Sui (SUI) is priced at US$3.87, showing an increaseof 2.0 percent over the past 24 hours. It achieved a daily low of US$3.79 and a high of US$3.94.
- Cardano (ADA) is trading at US$0.7788, up 0.9 percent over the past 24 hours. Its lowest price of the day was US$0.755, and it reached a high of US$0.7905.
Today’s crypto news to know
Coinbase faces US$400 million fallout after major cyber attack
Coinbase Global (NASDAQ:COIN) disclosed that a sophisticated cyber attack has compromised a portion of its customer base and could cost the firm up to US$400 million.
Hackers reportedly gained access to internal systems by paying off employees and contractors, allowing them to impersonate Coinbase and scam users out of their crypto.
Less than 1 percent of customer data was breached, but the attackers demanded a US$20 million ransom—which Coinbase flatly refused to pay. Instead, the company has pledged to fully reimburse affected users and established a US$20 million reward for information leading to the perpetrators’ arrest.
the timing of the attack is significant, coming just days before Coinbase is set to join the S&P 500 (INDEXSP:.INX), a milestone for mainstream crypto acceptance.
Ripple’s US$50 million SEC settlement rejected by federal judge
A US federal judge has rejected a US$50 million settlement deal jointly proposed by Ripple Labs and the US Securities and Exchange Commission (SEC), calling the motion ‘procedurally improper’ and outside her jurisdiction.
The dispute stems from the SEC’s longstanding lawsuit accusing Ripple of conducting unregistered securities sales through XRP, a case now under appeal. Judge Analisa Torres said that because the litigation is at the appellate stage, the district court has no authority to modify the previous judgment.
Ripple’s chief legal officer responded by emphasizing that the ruling doesn’t affect the company’s earlier court wins and that both sides remain aligned on resolving the issue.
Bitget becomes world’s third top crypto exchange by trading volume
Bitget has officially surged into third place among global crypto exchanges, reporting a stunning US$757.6 billion in futures trading volume and US$68.6 billion in spot volume for April 2025.
The Seychelles-based platform has made a name for itself through features like copy trading, which allows users to mimic high-performing traders in real time. Bitget’s April performance stood out despite a broader market correction, expanding its market share to 7.2 percent and pushing its user base above 120 million.
The exchange’s rise signals increasing demand for advanced crypto trading products beyond the traditional buy-and-hold strategy.
Fifth Third Bank eyes expansion into crypto after regulatory green light
After five years of quietly exploring the crypto space, Fifth Third Bank now says it’s ready to expand its offerings amid friendlier US regulations. The Cincinnati-based lender, which holds over US$200 billion in assets, has been working with crypto firms since 2020 but delayed larger moves until clearer guidance from regulators arrived.
According to Chief Strategy Officer Ben Hoffman, the bank is now exploring stablecoin-powered cross-border payments, crypto payroll services and digital asset custody. Recent signals from the Office of the Comptroller of the Currency and the Trump administration’s pro-crypto stance have given institutions more confidence to act.
Fifth Third has formed internal teams across its business lines to integrate blockchain-based financial products responsibly. With mainstream banks finally stepping into crypto with more certainty, a new chapter of institutional adoption appears to be underway.
US lawmakers debate GENIUS Act as stablecoin regulation nears critical juncture
The GENIUS Act, a bipartisan bill aimed at establishing a regulatory framework for US dollar-backed stablecoins, is under intense scrutiny as lawmakers grapple with its potential implications.
While the legislation seeks to provide clarity and oversight in the burgeoning stablecoin market, recent developments have introduced partisan divisions and raised concerns over consumer protections and financial stability.
Initially enjoying bipartisan support, the GENIUS Act has encountered resistance from Senate Democrats following revelations about former President Donald Trump’s involvement in digital asset ventures.
Lawmakers are now advocating for amendments to enhance consumer protections, enforce stricter financial controls and address potential ethical issues, particularly regarding the participation of large tech companies like Meta in the stablecoin space.
Despite these challenges, Republican proponents of the bill are pushing for its approval by Memorial Day (May 26), emphasizing the need for regulatory clarity to foster innovation and maintain the US dollar’s dominance in the digital economy.
Mastercard teams up with MoonPay to enable stablecoin payments worldwide
Mastercard (NYSE:MA) has announced a major new partnership with crypto payment processor MoonPay to bring stablecoin-based payments to more than 150 million global merchants.
The collaboration leverages Iron, a blockchain infrastructure company recently acquired by MoonPay, to enable real-time spending of stablecoins at any location accepting Mastercard.
The partnership is geared toward gig workers, digital creators and international businesses looking to send or receive money in a faster, cheaper and more flexible way. MoonPay says it already works with over 500 crypto platforms and can now expand its reach to over 100 million active users
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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Coinbase Global (NASDAQ:COIN), one of the world’s largest crypto exchanges, has announced an investment in Stablecorp to bring QCAD — a Canadian dollar-denominated stablecoin — to Canadians.
The announcement was made in Toronto at the Blockchain Futurist Conference, where it was presented during a fireside chat by Lucas Matheson, Canada country director at Coinbase, and Alex McDougall, CEO of Stablecorp.
The pair positioned the launch as part of a global shift toward stablecoin integration and digital financial innovation, underscoring Canada’s unique opportunity to carve out a leadership role in the emerging digital currency ecosystem.
‘Stablecoins are probably the topic to draw this year in crypto, for a lot of good reasons,” said Matheson.
“When you look at volume around the world for cryptocurrencies, stablecoins currently account for about 70 percent of all volume in cryptocurrency, while maintaining about 10 percent of the market cap.”
Matheson pointed out that governments around the world, from the US to the UK, are moving quickly to legislate and define these assets as legitimate payment instruments. He stressed that Canada needs to be part of that conversation.
Stablecorp’s QCAD is not new to the scene. McDougall noted that the company has been working since 2020 to create a homegrown stablecoin that reflects Canada’s economic standing. Despite the US dollar’s dominance in the global stablecoin market, McDougall believes the Canadian dollar has a compelling case to make.
“The Canadian dollar trades over C$400 billion a day in foreign exchange. Over C$3.6 billion of goods cross the American border, back and forth every day,’ he told audience members. “There’s over C$316 billion in international central bank reserve currencies, and that’s up to C$65 billion over 2024 — the Canadian dollar quietly kicks ass.’
The Coinbase-Stablecorp partnership aims to fill this void by integrating QCAD into use cases ranging from simple peer-to-peer transactions to institutional finance and global trade. Matheson explained that Coinbase’s backing will bring the reach, trust and compliance capabilities needed to scale QCAD nationally and internationally.
Their discourse also revolved around real-world applications. McDougall described QCAD as a solution that dramatically lowers costs and increases speed in cross-border and domestic payments.
He pointed to practical examples already being piloted, such as Brazilian students paying Canadian tuition fees using QCAD, and Filipino workers receiving remittances via seamless FX-to-stablecoin pipelines.
In both cases, traditional banking systems are circumvented in favor of instant, lower-fee digital rails.
The stablecoin, McDougall added, also opens new doors for small business financing. Canadian businesses will soon be able to draw international lines of credit that settle in QCAD in real-time, with FX baked into transactions, a feature traditional banks currently do not offer. He also highlighted use cases in global telecommunications billing, where cross-border carrier settlements, a US$5 billion annual burden, could be simplified via programmatic stablecoin payments.
Even more futuristically, he envisions QCAD being critical infrastructure for Canada’s artificial intelligence ambitions.
“From just simple everyday things like sending money around and taking that power back, all the way to having these fully automated global webs of commerce — stablecoins are the building blocks for every single one of those,” he said.
Despite the momentum, both Matheson and McDougall acknowledged that Canada’s regulatory environment has not kept pace with innovation. Unlike jurisdictions such as the US and UK, where stablecoins are being defined through legislation as distinct asset classes, often as e-money, Canada remains entangled in a fragmented regulatory landscape.
“Our challenge is that we have 13 different provincial securities regulators, each approaching crypto through the lens of securities law,” said Matheson. “That’s led to a square peg, round hole problem.”
The lack of a unified federal framework has made it difficult for firms like Stablecorp to fully operationalize a compliant and scalable stablecoin solution. However, the panelists hope this may be changing with a cabinet shakeup.
With the QCAD rollout and further announcements expected in the coming weeks, the pressure now shifts to Ottawa to match private sector ambition with public policy action.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
This post appeared first on investingnews.com
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