Piche Resources (PR2:AU) has announced $2million placement to advance Argentine exploration
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Nevada Sunrise Metals Corporation (TSXV: NEV,OTC:NVSGF) (OTC Pink: NVSGF) (‘Nevada Sunrise’ or the ‘Company’) is pleased to announce it has closed a non-brokered private placement (the ‘Offering’) for gross proceeds of $650,000, consisting of 13,000,000 units (the ‘Units’) at a price of $0.05 per Unit, with each Unit comprised of one common share of the Company and one common share purchase warrant (a ‘Warrant’). Each Warrant will entitle the holder to purchase one common share at a price of $0.075 for a period expiring three years from the closing date of the Offering. Due to investor demand, the Offering was increased from $600,000 (12,000,000 Units) (see news release dated October 16, 2025) to $650,000 (13,000,000 Units).
Proceeds of the Offering will be used for:
- Exploration work on the Company’s Nevada mineral properties;
- Other mineral property investigations, and general working capital.
The Offering was available to accredited investors and individuals that qualified under certain other statutory exemptions. The securities issued pursuant to the Offering are subject to a statutory hold period expiring March 7, 2026. In connection with the closing of the Offering, the Company paid finder’s fees consisting of a total of $31,500 cash and 630,000 finder’s warrants (each a ‘Finder’s Warrant‘) to Canaccord Genuity Corp. Each Finder’s Warrant is exercisable at a price of $0.075 for a period of three years from the closing date of the Offering. The Offering is subject to acceptance of the TSX Venture Exchange.
This news release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the ‘1933 Act‘) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Nevada Sunrise
Nevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, BC, Canada, that holds interests in gold, copper and lithium exploration projects located in the State of Nevada, USA.
Nevada Sunrise holds the right to purchase a 100% interest in the Griffon Gold Mine Project, located approximately 50 kilometers (33 miles) southwest of Ely, NV.
Nevada Sunrise holds the right to earn a 100% interest in the Coronado Copper Project, located approximately 48 kilometers (30 miles) southeast of Winnemucca, NV.
Nevada Sunrise owns 100% interests in the Gemini West, Jackson Wash and Badlands lithium projects, all of which are located in the Lida Valley in Esmeralda County, NV.
As a complement to its exploration projects in Esmeralda County, the Company owns Nevada Water Right Permit 86863, also located in the Lida Valley basin, near Lida, NV.
For Further Information Contact:
Warren Stanyer, President and Chief Executive Officer
email: warrenstanyer@nevadasunrise.ca
Telephone: (604) 428-8028
Website: www.nevadasunrise.ca
FORWARD LOOKING STATEMENTS
This release may contain forward‐looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur and include disclosure of anticipated exploration activities. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward‐looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward‐looking statements whether as a result of new information, future events or otherwise.
Such factors include, among others, risks related to future plans for the Company’s Nevada mineral properties; reliance on technical information provided by third parties on any of our exploration properties; changes in mineral project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or metallurgical recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labor disputes and other risks of the mining industry; delays due to pandemic; delays due to weather; delays in obtaining governmental approvals, financing or in the completion of exploration, as well as those factors discussed in the section entitled ‘Risk Factors’ in the Company’s Management Discussion and Analysis for the Nine Months ending June 30, 2025, which is available under Company’s SEDAR profile at www.sedarplus.com.
Although Nevada Sunrise has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Nevada Sunrise disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273569
News Provided by Newsfile via QuoteMedia
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Fertilizer prices remained elevated in Q3 compared to both the first half of the year and the end of 2024.
Potash prices surged at the start of the year as the Trump administration threatened tariffs on Canada, the top supplier to US farmers. During the third quarter, prices were 20 percent higher than at the end of last year.
Meanwhile, phosphate prices continued to climb through Q3 on the back of supply shortages, spurred by export restrictions from top producer China. Prices were further influenced by US tariffs.
What happened to phosphate and potash prices in Q3?
According to data from the World Bank, the average quarterly phosphate price rose to US$770.60 per metric ton (MT), up from US$673.20 in Q2, and significantly higher than the annual average of US$563.70 in 2024.
On a monthly basis, phosphate climbed to US$736 in July, then climbed to a three year high of US$795.10 in August. Since then, the price has fallen to US$780.63 in September and US$754 in October.
The quarterly average for potash fell slightly in Q3 to US$352.20 per MT, down from US$359.20 the previous quarter, but remained higher than US$283.90 in the last quarter of 2024.
On a monthly basis, potash prices eased to US$362.50 in July, and continued to fall to US$356.50 in August. They sank further to US$352.50 in September and US$352 in October.
What factors impacted phosphate in Q3?
Phosphate prices have been primarily influenced over the last several years by export restrictions from China, which have declined to 6.6 million MT in 2024 from 9 million MT in 2021. The restrictions were put in place to protect the domestic supply, and while the hope was that they would eventually ease, that hasn’t happened.
“As expected, their exports started to arrive in July to September; however, the government had a self-imposed October 15 cutoff date for export submission. That date came and went without an extension, so now the belief is their flows will slow to a crawl very soon,” he said. The situation may face additional headwinds, as China has imposed more restrictions on key battery technologies and precursors for phosphate-based batteries. These restrictions will add to demand for ex-China supply as the agricultural sector competes with battery makers for a limited supply of phosphate.
Demand for phosphate is also high, particularly from India, which has been working to increase its stockpiles since the end of 2024, when they reached a low of 1.1 million MT. However, stockpiles had more than doubled to 2.4 million MT at the start of October, with imports climbing to 4 million MT during the April to September period.
Much of the demand has been covered by supply from Saudi Arabia and Morocco, which signed several offtake agreements with Indian importers in July. “They were a major driver of higher prices for much of 2025 as they played catch up on stockpiles, and have finally reached a comfortable number of tons, which has allowed them to slow their desperate pace. The slower demand pace has allowed the market time to breathe/correct lower,” Linville said.
For US-based farmers, supply isn’t the only issue.
On August 7, a host of new tariffs as high as 25 percent were applied to phosphate imports, including from Saudi Arabia, which accounted for 54.7 percent of imports during the first five months of the year. Although there were some concerns that higher prices could prompt farmers to rethink their strategy, Linville hasn’t seen that materialize either.
With reports that farm yields this year have been higher, it may prompt farmers who have been on the fence about a fall application of phosphate to reconsider, as a significant yield would indicate some phosphate soil depletion.
“While still spoty, we are continuing to hear reports that phosphate demand is better than expected,” he said.
However, Linville noted that a surge in last-minute demand it could make supplies tighter and limit the ability for phosphate to make it onto the fields.
What factors impacted potash in Q3?
Linville said potash news was quiet during the quarter, pointing to stable prices and a well-supplied market.
In July, BHP (ASX:BHP,NYSE:BHP,LSE:BHP) announced it was delaying the opening of its Jansen mine in Saskatchewan. It was initially slated to start production in 2026, but has instead moved its timeline back to 2027 and is also considering pushing the second phase to 2031, citing cost overruns that have ballooned to US$7 billion.
Although potash has so far escaped US tariffs, Linville noted some concern following Ontario’s anti-tariff ad, which ran in the US during the World Series. “We continue to hope/believe that potash will be left alone as part of the North America Trade agreement. Assuming potash is left alone, markets should continue as normal; however, if we start seeing barriers to entry, US farmers will likely bear the brunt of most/all of those tariffs,” he said
Potash and phosphate price forecast for 2025
While potash markets remain stable, phosphate markets are much more dynamic.
Unless there is a significant shift in China’s exports, supply should remain tight. In his most recent weekly update on November 5, Linville noted that the situation could become dire for US consumers before the end of the year.
“We continue to advise our people that if they decide they need phosphate after all, do not wait to lock it up. Days very well may matter. Heck, hours might matter. Supplies are tight and can ill-afford a sudden demand jump,” he wrote.
Additionally, markets are likely to become further strained in the years to come as limited supply meets increased demand from outside the agricultural sector.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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Altech Batteries (ATC:AU) has announced Altech – Service Data Confirms Exceptional Failure Rate
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Alvopetro Energy Ltd. (TSXV:ALV,OTC:ALVOF) (OTCQX: ALVOF) announces an operational update and financial results for the three and nine months ended September 30, 2025.
All references herein to $ refer to United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.
President & CEO, Corey C. Ruttan commented:
‘Our sales in Brazil in October averaged 2,766 boepd, a 34% increase from September. Our Western Canadian assets added an additional 157 bopd bringing our company average up to 2,923 boepd, a new record for Alvopetro. On our 100% owned Murucututu project in Brazil, our 183-D4 well achieved IP30 rates of 1,071 boepd, significantly above our pre-drill estimates. This result helps strengthen our longer-term growth plans in Brazil. Our success in Brazil is being complimented by our Western Canadian capital program and our recently expanded partnership covering virtually all of the Saskatchewan portion of the Mannville Stack Heavy Oil play fairway. We are in a strong position to continue our disciplined capital allocation model, balancing returns to stakeholders and investing in high rate of return growth opportunities in Brazil and the Western Canadian Sedimentary Basin.’
Operational Update
October Sales Volumes
|
Natural gas, NGLs and crude oil sales: |
October 2025 |
September 2025 |
Q3 |
|
Brazil: |
|||
|
Natural gas (Mcfpd), by field: |
|||
|
Caburé |
9,136 |
5,463 |
8,735 |
|
Murucututu |
6,115 |
5,812 |
3,558 |
|
Total natural gas (Mcfpd) |
15,251 |
11,275 |
12,293 |
|
NGLs (bopd) |
206 |
180 |
147 |
|
Oil (bopd)(1) |
18 |
9 |
9 |
|
Total (boepd) – Brazil |
2,766 |
2,069 |
2,205 |
|
Canada: |
|||
|
Oil (bopd) – Canada |
157 |
163 |
138 |
|
Total Company – boepd(2) |
2,923 |
2,232 |
2,343 |
|
(1) |
Oil sale volumes in Brazil relate to the Bom Lugar and Mãe da lua fields. Alvopetro has entered into an assignment agreement to dispose of the fields, the closing of which is subject to standard regulatory approvals, including approval of the ANP. |
|
(2) |
Alvopetro reported volumes are based on sales volumes which, due to the timing of sales deliveries, may differ from production volumes. |
October sales volumes increased to 2,923 boepd, including 2,766 boepd from Brazil (with natural gas sales of 15.3 MMcfpd, associated natural gas liquids sales from condensate of 206 bopd, and oil sales of 18 bopd) and 157 bopd from oil sales in Canada, based on field estimates, setting a new record for sales volumes at Alvopetro. In Brazil, sales volumes increased 34% over September and 25% over Q3 2025 following Alvopetro and Bahiagas agreeing to a spot contract with discounted pricing for volumes above our firm contract reference volumes of 400 e3m3/d (14.1 MMcfpd).
Quarterly Natural Gas Pricing Update
As previously announced, effective November 1, 2025, our natural gas price under our long-term gas sales agreement was adjusted to BRL1.81/m3 and will apply to firm natural gas sales (up to 400,000 m3/d) from November 1, 2025 to January 31, 2026. Based on our average heat content to date and the October 31, 2025 BRL/USD exchange rate of 5.38, our expected realized price at the new contracted price is $10.15/Mcf, net of applicable sales taxes, a decrease of 8% from the Q3 2025 realized price of $11.04/Mcf due mainly to lower Henry Hub prices in the third quarter. Amounts ultimately received in equivalent USD will be impacted by exchange rates in effect during the period November 1, 2025 to January 31, 2026. Natural gas sales above 400,000 m3/d are currently being sold on a flexible basis under spot contracts at discounts to our firm contracted price.
Development Activities – Brazil
On our 100% owned Murucututu field, the 183-D4 well was completed in seven intervals in the third quarter. With this well on production from the field since late August, third quarter natural gas sales from Murucututu increased to 3.6 MMcfpd (+199% from Q2 2025) and October natural gas sales increased further to 6.1 MMcfpd.
Our joint development on the unitized area (‘the Unit’), which includes our Caburé field, continued in the third quarter and four wells (2.2 net) were drilled. Three of the wells have now been completed and brought on production. We are planning a sidetrack of the fourth well due to challenges encountered while executing the final phase of the well. The timing of drilling the fifth planned development well (0.6 net) is subject to the receipt of all necessary regulatory approvals.
Development Activities – Western Canada
In the third quarter, two additional wells were drilled (1.0 net to Alvopetro) and commenced production in September. As previously announced, we entered into an expanded area of mutual interest (‘Expanded AMI’) with our existing partner. Under the terms of the Expanded AMI, we have agreed to fund 100% of two earning wells to earn a 50% working interest in an additional 46.9 sections of land (15,010 net acres). The two earning wells are expected to commence drilling in late 2025. After drilling, Alvopetro will have a 50% interest in 74.4 sections of land (23,900 net acres).
Financial and Operating Highlights – Third Quarter of 2025
- Average daily sales in Q3 2025 were 2,343 boepd(1) (+11% from Q3 2024 and -4% from Q2 2025). In Brazil, daily sales averaged 2,205 boepd (+5% compared to Q3 2024 and -4% from Q2 2025) and in Canada, oil sales averaged 138 bopd in the quarter (consistent with Q2 2025).
- Our average realized natural gas price was $11.04/Mcf (+1% from Q3 2024 and +4% from Q2 2025). Our overall averaged realized sales price per boe was $65.76/boe (-1% from Q3 2024 and +4% from Q2 2025).
- Our natural gas, oil and condensate revenue increased to $14.2 million (+10% from Q3 2024 and +1% from Q2 2025). Compared to Q3 2024, the increase was driven by higher overall sales volumes, partially offset by lower realized prices. Compared to Q2 2025, the increase was as a result of higher realized prices, partially offset by lower sales volumes.
- Our operating netback(2) in the quarter was $55.90 per boe, a decrease of $3.29 per boe compared to Q3 2024 due mainly to addition of lower overall netbacks from Canadian operations. Compared to Q2 2025, our operating netback increased $1.18 per boe with higher realized prices, partially offset by higher royalties, production expenses and transportation expenses.
- We generated funds flows from operations(2) of $10.4 million ($0.28 per basic and per diluted share), increases of $0.6 million compared to Q3 2024 and $0.1 million compared to Q2 2025.
- We reported net income of $4.6 million ($0.12 per basic and diluted share), a decrease of $2.5 million compared to Q3 2024 due mainly to impairment losses and higher depletion and depreciation expenses recognized in Q3 2025, partially offset by higher revenues with increased sales volumes, and lower tax expenses.
- Capital expenditures totaled $11.2 million, including completion costs for the 183-D4 well on Alvopetro’s 100% Murucututu field, Alvopetro’s share of unit development costs on the Cabure field and Alvopetro’s share of costs to drill and equip an additional two wells (1.0 net) in Saskatchewan.
- Our working capital(2) surplus was $2.2 million as of September 30, 2025, decreasing $4.6 million from June 30, 2025.
|
(1) |
Alvopetro reported volumes are based on sales volumes which, due to the timing of sales deliveries, may differ from production volumes. |
|
(2) |
See ‘Non-GAAP and Other Financial Measures‘ section within this news release. |
The following table provides a summary of Alvopetro’s financial and operating results for the periods noted. The consolidated financial statements with the Management’s Discussion and Analysis (‘MD&A’) are available on our website at www.alvopetro.com and will be available on the SEDAR+ website at www.sedarplus.ca.
|
As at and Three Months Ended September 30, |
As at and Nine Months Ended September 30, |
|||||
|
2025 |
2024 |
Change (%) |
2025 |
2024 |
Change (%) |
|
|
Financial |
||||||
|
($000s, except where noted) |
||||||
|
Natural gas, oil and condensate sales |
14,175 |
12,879 |
10 |
42,198 |
35,303 |
20 |
|
Net income |
4,613 |
7,152 |
(36) |
17,513 |
14,052 |
25 |
|
Per share – basic ($)(1) |
0.12 |
0.19 |
(37) |
0.47 |
0.38 |
24 |
|
Per share – diluted ($)(1) |
0.12 |
0.19 |
(37) |
0.46 |
0.37 |
24 |
|
Cash flows from operating activities |
12,153 |
10,714 |
13 |
31,443 |
27,787 |
13 |
|
Per share – basic ($)(1) |
0.33 |
0.29 |
14 |
0.84 |
0.75 |
12 |
|
Per share – diluted ($)(1) |
0.32 |
0.28 |
14 |
0.83 |
0.74 |
12 |
|
Funds flow from operations(2) |
10,448 |
9,886 |
6 |
30,036 |
26,309 |
14 |
|
Per share – basic ($)(1) |
0.28 |
0.27 |
4 |
0.81 |
0.71 |
14 |
|
Per share – diluted ($)(1) |
0.28 |
0.26 |
8 |
0.79 |
0.70 |
13 |
|
Dividends declared |
3,673 |
3,295 |
11 |
10,976 |
9,887 |
11 |
|
Per share(1) (2) |
0.10 |
0.09 |
11 |
0.30 |
0.27 |
11 |
|
Capital expenditures |
11,249 |
4,747 |
137 |
28,610 |
10,623 |
169 |
|
Cash and cash equivalents |
12,081 |
24,515 |
(51) |
12,081 |
24,515 |
(51) |
|
Net working capital(2) |
2,209 |
15,848 |
(86) |
2,209 |
15,848 |
(86) |
|
Weighted average shares outstanding |
||||||
|
Basic (000s)(1) |
37,263 |
37,300 |
– |
37,273 |
37,286 |
– |
|
Diluted (000s)(1) |
37,851 |
37,662 |
1 |
37,801 |
37,671 |
– |
|
Operations |
||||||
|
Average daily sales volumes(3): |
||||||
|
Brazil: |
||||||
|
Natural gas (Mcfpd), by field: |
||||||
|
Caburé (Mcfpd) |
8,735 |
11,378 |
(23) |
10,741 |
9,817 |
9 |
|
Murucututu (Mcfpd) |
3,558 |
616 |
478 |
2,286 |
490 |
367 |
|
Total natural gas (Mcfpd) |
12,293 |
11,994 |
2 |
13,027 |
10,307 |
26 |
|
NGLs – condensate (bopd) |
147 |
95 |
55 |
137 |
83 |
65 |
|
Oil (bopd) |
9 |
12 |
(25) |
8 |
12 |
(33) |
|
Total (boepd) – Brazil |
2,205 |
2,106 |
5 |
2,315 |
1,813 |
28 |
|
Canada: |
||||||
|
Oil (bopd) – Canada |
138 |
– |
– |
93 |
– |
– |
|
Total Company (boepd) |
2,343 |
2,106 |
11 |
2,408 |
1,813 |
33 |
|
As at and Three Months Ended September 30, |
As at and Three Months Ended September 30, |
|||||
|
2025 |
2024 |
Change (%) |
2025 |
2024 |
Change (%) |
|
|
Average realized prices(2): |
||||||
|
Natural gas ($/Mcf) |
11.04 |
10.92 |
1 |
10.69 |
11.70 |
(9) |
|
NGLs – condensate ($/bbl) |
74.16 |
86.70 |
(14) |
75.83 |
88.77 |
(15) |
|
Oil ($/bbl) |
50.42 |
68.36 |
(26) |
49.36 |
68.48 |
(28) |
|
Total ($/boe) |
65.76 |
66.46 |
(1) |
64.19 |
71.06 |
(10) |
|
Operating netback ($/boe)(2) |
||||||
|
Realized sales price |
65.76 |
66.46 |
(1) |
64.19 |
71.06 |
(10) |
|
Royalties |
(3.54) |
(1.89) |
87 |
(4.71) |
(1.94) |
143 |
|
Production expenses |
(6.10) |
(5.38) |
13 |
(5.58) |
(6.23) |
(10) |
|
Transportation expenses |
(0.22) |
– |
– |
(0.12) |
– |
– |
|
Operating netback |
55.90 |
59.19 |
(6) |
53.78 |
62.89 |
(14) |
|
Operating netback margin(2) |
85 % |
89 % |
(4) |
84 % |
89 % |
(6) |
|
Notes: |
|
|
(1) |
Per share amounts are based on weighted average shares outstanding other than dividends per share, which is based on the number of common shares outstanding at each dividend record date. The weighted average number of diluted common shares outstanding in the computation of funds flow from operations and cash flows from operating activities per share is the same as for net income per share. |
|
(2) |
See ‘Non-GAAP and Other Financial Measures’ section within this news release. |
|
(3) |
Alvopetro reported volumes are based on sales volumes which, due to the timing of sales deliveries, may differ from production volumes. |
Q3 2025 Results Webcast
Alvopetro will host a live webcast to discuss our Q3 2025 financial results at 8:00 am Mountain time on Thursday November 6, 2025. Details for joining the event are as follows:
DATE: November 6, 2025
TIME: 8:00 AM Mountain/10:00 AM Eastern
LINK: https://us06web.zoom.us/j/87150507093
DIAL-IN NUMBERS: https://us06web.zoom.us/u/kdLidYPIoO
WEBINAR ID: 871 5050 7093
The webcast will include a question-and-answer period. Online participants will be able to ask questions through the Zoom portal. Dial-in participants can email questions directly to socialmedia@alvopetro.com.
Corporate Presentation
Alvopetro’s updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation.
Social Media
Follow Alvopetro on our social media channels at the following links:
X – https://x.com/AlvopetroEnergy
Instagram – https://www.instagram.com/alvopetro/
LinkedIn – https://www.linkedin.com/company/alvopetro-energy-ltd
Alvopetro Energy Ltd. is deploying a balanced capital allocation model where we seek to reinvest roughly half our cash flows into organic growth opportunities and return the other half to stakeholders. Alvopetro’s organic growth strategy is to focus on the best combinations of geologic prospectivity and fiscal regime. Alvopetro is balancing capital investment opportunities in Canada and Brazil where we are building off the strength of our Caburé and Murucututu natural gas fields and the related strategic midstream infrastructure.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Abbreviations:
|
$000s |
= |
thousands of U.S. dollars |
|
boepd |
= |
barrels of oil equivalent (‘boe’) per day |
|
bopd |
= |
barrels of oil and/or natural gas liquids (condensate) per day |
|
BRL |
= |
Brazilian Real |
|
e3m3/d |
= |
thousand cubic metre per day |
|
m3 |
= |
cubic metre |
|
m3/d |
= |
cubic metre per day |
|
Mcf |
= |
thousand cubic feet |
|
Mcfpd |
= |
thousand cubic feet per day |
|
MMcf |
= |
million cubic feet |
|
MMcfpd |
= |
million cubic feet per day |
|
NGLs |
= |
natural gas liquids (condensate) |
|
Q1 2025 |
= |
three months ended March 31, 2025 |
|
Q3 2024 |
= |
three months ended September 30, 2024 |
|
Q2 2025 |
= |
three months ended June 30, 2025 |
|
Q3 2025 |
= |
three months ended September 30, 2025 |
|
USD |
= |
United States dollars |
|
GAAP or IFRS |
= |
IFRS Accounting Standards |
Non-GAAP and Other Financial Measures
This news release contains references to various non-GAAP financial measures, non-GAAP ratios, capital management measures and supplementary financial measures as such terms are defined in National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure. Such measures are not recognized measures under GAAP and do not have a standardized meaning prescribed by IFRS and might not be comparable to similar financial measures disclosed by other issuers. While these measures may be common in the oil and gas industry, the Company’s use of these terms may not be comparable to similarly defined measures presented by other companies. The non-GAAP and other financial measures referred to in this report should not be considered an alternative to, or more meaningful than measures prescribed by IFRS and they are not meant to enhance the Company’s reported financial performance or position. These are complementary measures that are used by management in assessing the Company’s financial performance, efficiency and liquidity and they may be used by investors or other users of this document for the same purpose. Below is a description of the non-GAAP financial measures, non-GAAP ratios, capital management measures and supplementary financial measures used in this news release. For more information with respect to financial measures which have not been defined by GAAP, including reconciliations to the closest comparable GAAP measure, see the ‘Non-GAAP Measures and Other Financial Measures‘ section of the Company’s MD&A which may be accessed through the SEDAR+ website at www.sedarplus.ca.
Non-GAAP Financial Measures
Operating Netback
Operating netback is calculated as natural gas, oil and condensate revenues less royalties, production expenses, and transportation expenses. This calculation is provided in the ‘Operating Netback‘ section of the Company’s MD&A using our IFRS measures. The Company’s MD&A may be accessed through the SEDAR+ website at www.sedarplus.ca. Operating netback is a common metric used in the oil and gas industry used to demonstrate profitability from operations.
Non-GAAP Financial Ratios
Operating Netback per boe
Operating netback is calculated on a per unit basis, which is per barrel of oil equivalent (‘boe’). It is a common non-GAAP measure used in the oil and gas industry and management believes this measurement assists in evaluating the operating performance of the Company. It is a measure of the economic quality of the Company’s producing assets and is useful for evaluating variable costs as it provides a reliable measure regardless of fluctuations in production. Alvopetro calculated operating netback per boe as operating netback divided by total sales volumes (boe). This calculation is provided in note 3 of the interim condensed consolidated financial statements and in the ‘Operating Netback‘ section of the Company’s MD&A using our IFRS measures. The Company’s MD&A may be accessed through the SEDAR+ website at www.sedarplus.ca. Operating netback is a common metric used in the oil and gas industry used to demonstrate profitability from operations on a per boe basis.
Operating netback margin
Operating netback margin is calculated as operating netback per boe divided by the realized sales price per boe. Operating netback margin is a measure of the profitability per boe relative to natural gas, oil and condensate sales revenues per boe and is calculated as follows:
|
Three Months Ended September 30, |
Nine Months Ended September 30, |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Operating netback – $ per boe |
55.90 |
59.19 |
53.78 |
62.89 |
|
Average realized price – $ per boe |
65.76 |
66.46 |
64.19 |
71.06 |
|
Operating netback margin |
85 % |
89 % |
84 % |
89 % |
Funds Flow from Operations Per Share
Funds flow from operations per share is a non-GAAP ratio that includes all cash generated from operating activities and is calculated before changes in non-cash working capital, divided by the weighted average shares outstanding for the respective period. For the periods reported in this news release the cash flows from operating activities per share and funds flow from operations per share is as follows:
|
Three Months Ended September 30, |
Nine Months Ended September 30, |
|||
|
$ per share |
2025 |
2024 |
2025 |
2024 |
|
Per basic share: |
||||
|
Cash flows from operating activities |
0.33 |
0.29 |
0.84 |
0.75 |
|
Funds flow from operations |
0.28 |
0.27 |
0.81 |
0.71 |
|
Per diluted share: |
||||
|
Cash flows from operating activities |
0.32 |
0.28 |
0.83 |
0.74 |
|
Funds flow from operations |
0.28 |
0.26 |
0.79 |
0.70 |
Capital Management Measures
Funds Flow from Operations
Funds flow from operations is a non-GAAP capital management measure that includes all cash generated from operating activities and is calculated before changes in non-cash working capital. The most comparable GAAP measure to funds flow from operations is cash flows from operating activities. Management considers funds flow from operations important as it helps evaluate financial performance and demonstrates the Company’s ability to generate sufficient cash to fund future growth opportunities. Funds flow from operations should not be considered an alternative to, or more meaningful than, cash flows from operating activities however management finds that the impact of working capital items on the cash flows reduces the comparability of the metric from period to period. A reconciliation of funds flow from operations to cash flows from operating activities is as follows:
|
Three Months Ended September 30, |
Nine Months Ended September 30, |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Cash flows from operating activities |
12,153 |
10,714 |
31,443 |
27,787 |
|
Changes in non-cash working capital |
(1,705) |
(828) |
(1,407) |
(1,478) |
|
Funds flow from operations |
10,448 |
9,886 |
30,036 |
26,309 |
Net Working Capital
Net working capital is computed as current assets less current liabilities. Net working capital is a measure of liquidity, is used to evaluate financial resources, and is calculated as follows:
|
As at September 30, |
|||
|
2025 |
2024 |
||
|
Total current assets |
18,582 |
30,197 |
|
|
Total current liabilities |
(16,373) |
(14,349) |
|
|
Net working capital |
2,209 |
15,848 |
|
Supplementary Financial Measures
‘Average realized natural gas price – $/Mcf‘ is comprised of natural gas sales as determined in accordance with IFRS, divided by the Company’s natural gas sales volumes.
‘Average realized NGL – condensate price – $/bbl‘ is comprised of condensate sales as determined in accordance with IFRS, divided by the Company’s NGL sales volumes from condensate.
‘Average realized oil price – $/bbl‘ is comprised of oil sales as determined in accordance with IFRS, divided by the Company’s oil sales volumes.
‘Average realized price – $/boe‘ is comprised of natural gas, condensate and oil sales as determined in accordance with IFRS, divided by the Company’s total natural gas, NGL and oil sales volumes (barrels of oil equivalent).
‘Dividends per share‘ is comprised of dividends declared, as determined in accordance with IFRS, divided by the number of shares outstanding at the dividend record date.
‘Royalties per boe‘ is comprised of royalties, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent).
‘Production expenses per boe‘ is comprised of production expenses, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent).
‘Transportation expenses per boe‘ is comprised of transportation expenses, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent).
BOE Disclosure
The term barrels of oil equivalent (‘boe’) may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6 Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.
Contracted Natural Gas Volumes
The 2025 contracted daily firm volumes under Alvopetro’s long-term gas sales agreement of 400 e3m3/d (before any provisions for take or pay allowances) represents contracted volumes based on contract referenced natural gas heating value. Alvopetro’s reported natural gas sales volumes are prior to any adjustments for heating value of Alvopetro natural gas. Alvopetro’s natural gas is approximately 7.8% higher than the contract reference heating value. Therefore, to satisfy the contractual firm deliveries Alvopetro would be required to deliver approximately 371e3m3/d (13.1MMcfpd).
Well Results
Data obtained from the 183-D4 well identified in this press release, including initial production rates, should be considered preliminary. There is no representation by Alvopetro that the data relating to the 183-D4 well contained in this press release is necessarily indicative of long-term performance or ultimate recovery. The reader is cautioned not to unduly rely on such data as such data may not be indicative of future performance of the well or of expected production or operational results for Alvopetro in the future.
Forward-Looking Statements and Cautionary Language
This news release contains forward-looking information within the meaning of applicable securities laws. The use of any of the words ‘will’, ‘expect’, ‘intend’, ‘plan’, ‘may’, ‘believe’, ‘estimate’, ‘forecast’, ‘anticipate’, ‘should’ and other similar words or expressions are intended to identify forward-looking information. Forward‐looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events. Accordingly, when relying on forward-looking statements to make decisions, Alvopetro cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. More particularly and without limitation, this news release contains forward-looking statements concerning the expected natural gas price, gas sales and gas deliveries under Alvopetro’s long-term gas sales agreement, future production and sales volumes, plans relating to the Company’s operational activities, proposed exploration and development activities and the timing for such activities, capital spending levels, future capital and operating costs, the timing and taxation of dividends and plans for dividends in the future, anticipated timing for upcoming drilling and testing of other wells, and projected financial results. Forward-looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to the success of future drilling, completion, testing, recompletion and development activities and the timing of such activities, the performance of producing wells and reservoirs, well development and operating performance, expectations and assumptions concerning the timing of regulatory licenses and approvals, equipment availability, environmental regulation, including regulations relating to hydraulic fracturing and stimulation, the ability to monetize hydrocarbons discovered, the outlook for commodity markets and ability to access capital markets, foreign exchange rates, the outcome of any disputes, the outcome of redeterminations, general economic and business conditions, forecasted demand for oil and natural gas, the impact of global pandemics, weather and access to drilling locations, the availability and cost of labour and services, and the regulatory and legal environment and other risks associated with oil and gas operations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Current and forecasted natural gas nominations are subject to change on a daily basis and such changes may be material. In addition, the declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. Although we believe that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because we can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, reliance on industry partners, availability of equipment and personnel, uncertainty surrounding timing for drilling and completion activities resulting from weather and other factors, changes in applicable regulatory regimes and health, safety and environmental risks), commodity price and foreign exchange rate fluctuations, market uncertainty associated with trade or tariff disputes, and general economic conditions. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Although Alvopetro believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Alvopetro can give no assurance that it will prove to be correct. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on factors that could affect the operations or financial results of Alvopetro are included in our AIF which may be accessed on Alvopetro’s SEDAR+ profile at www.sedarplus.ca. The forward-looking information contained in this news release is made as of the date hereof and Alvopetro undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
www.alvopetro.com
TSX-V: ALV, OTCQX: ALVOF
SOURCE Alvopetro Energy Ltd.
View original content: http://www.newswire.ca/en/releases/archive/November2025/05/c9260.html
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Brien Lundin, editor of Gold Newsletter and New Orleans Investment Conference host, shares his outlook for gold and silver as prices continue to consolidate.
‘At the end of this cycle, I’ve long predicted that we’re going to get to a US$6,000 to US$8,000 (per ounce) price range, whenever that may happen — I hope it takes years from now,’ he said about gold.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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Metals Australia (MLS:AU) has announced Drilling the Manindi Vanadium-Titanium-Magnetite Discovery
Download the PDF here.
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Alice Queen (AQX:AU) has announced Horn Island Project Update
Download the PDF here.
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Sankamap Metals Inc. (CSE: SCU) (‘Sankamap’ or the ‘Company’) further to the Company’s news release dated October 21, 2025, the Company continues to work towards the filing of its annual audited financial statements and management’s discussion and analysis for the fiscal year ended June 30, 2025 (the ‘Required Filings’).
The audit of Sankamap’s subsidiary is nearing completion and is expected to be finalized within the next few days. Sankamap has provided the auditor with all required planning materials and supporting documentation; however, the commencement of Sankamap’s audit in full remains dependent upon the completion of the subsidiary audit. From Sankamap’s perspective, all necessary preparations for the audit have been completed, and only potential adjustments, if any, are anticipated following the finalization of the subsidiary audit. Sankamap continues to anticipate that the audited financial statements will be completed and filed on or before November 28, 2025.
The Required Filings were due to be filed by October 28, 2025. In connection with the anticipated delays in making the Required Filings, the Company made an application for a Management Cease Trade Order (‘MCTO‘) under National Policy 12-203 Management Cease Trade Orders (‘NP 12-203‘) to the Alberta Securities Commission, as principal regulator for the Company, and the MCTO was issued on October 29, 2025. The MCTO restricts all trading by the Company’s CEO and CFO in securities of the Company, whether direct or indirect. The issuance of the MCTO will not affect the ability of persons who are not directors, officers or insiders of the Company to trade their securities. The MCTO will remain in effect until the Required Filings are filed or until it is revoked or varied.
The Company expects to proceed with the filing of its interim first-quarter financial statements shortly after the Required Filings have been completed and submitted.
Both the Company and its auditors are working diligently towards the completion and filing of the Required Filings, and the Company will provide additional updates.
The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 by issuing bi-weekly default status reports in the form of a news release until it meets the Required Filings requirement. The Company has not taken any steps towards any insolvency proceeding and the Company has no material information relating to its affairs that has not been generally disclosed.
About Sankamap Metals Inc.
Sankamap Metals Inc. (CSE: SCU) is a Canadian mineral exploration company dedicated to the discovery and development of high-grade copper and gold deposits through its flagship Oceania Project, located in the South Pacific. The Company’s fully permitted assets are strategically positioned in the Solomon Islands, along a prolific geological trend that hosts major copper-gold deposits; including Newcrest’s Lihir Mine, with a resource of 71.9 million ounces of gold¹ (310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred).
Exploration is actively advancing at both the Kuma and Fauro properties, part of Sankamap’s Oceania Project in the Solomon Islands. Historical work has already highlighted the mineral potential of both sites, which lie along a highly prospective copper and gold-bearing trend, suggesting the possibility of further, yet-to-be-discovered deposits.
At Kuma, the property is believed to host an underexplored and largely untested porphyry copper-gold (Cu-Au) system. Historical rock chip sampling has returned consistently elevated gold values above 0.5 g/t Au, including a standout sample assaying 11.7% Cu and 13.5 g/t Au2; underscoring the area’s significant potential.
At Fauro, particularly at the Meriguna Target, historical trenching has returned highly encouraging results, including 8.0 meters at 27.95 g/t Au and 14.0 meters at 8.94 g/t Au3. Complementing these results are exceptional grab sample assays, including historical values of up to 173 g/t Au3, along with recent sampling by Sankamap at the Kiovakase Target, which returned numerous high-grade copper values, reaching up to 4.09% Cu. In addition, limited historical shallow drilling intersected 35.0 meters at 2.08 g/t Au3, further underscoring the property’s strong mineral potential and the merit for continued exploration. With a commitment to systematic exploration and a team of experienced professionals, Sankamap aims to unlock the untapped potential of underexplored regions and create substantial value for its shareholders. For more information, please refer to SEDAR+ (www.sedarplus.ca), under Sankamap’s profile.
-
Newcrest Technical Report, 2020 (Lihir: 310 Mt containing 23 Moz Au at 2.3 g/t P+P, 520 Mt containing 39 Moz Au at 2.3 g/t indicated, 81 Mt containing 5 Moz Au at 1.9 g/t measured, 61 Mt containing 4.9 Moz Au at 2.3 g/t Inferred)
-
Historical grab, soil and BLEG samples from SolGold Kuma Review June 2015, and SolGold plc Annual Report 2013/2012
-
September 2010-June 2012 press releases from Solomon Gold Ltd. and SolGold Fauro Island Summary Technical Info 2012
QP Disclosure
The technical content for the Oceania Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person in accordance with CIM guidelines. Mr. John Florek is in good standing with the Professional Geoscientists of Ontario (Member ID:1228) and a director and officer of the Company.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ ‘John Florek’
John Florek, M.Sc., P.Geol
Chief Executive Officer
Sankamap Metals Inc.
Contact:
John Florek, CEO
T: (807) 228-3531
E: johnf@sankamap.com
The Canadian Securities Exchange has not approved nor disapproved this press release.
Forward-Looking Statements
Certain statements made and information contained herein may constitute ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to Sankamap and there is no assurance that the actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as ‘anticipates,’ ‘believes,’ ‘targets,’ ‘estimates,’ ‘plans,’ ‘expects,’ ‘may,’ ‘will,’ ‘could’ or ‘would.’
This press release contains forward-looking statements, including, but not limited to, statements regarding management’s expectations about obtaining the MCTO and completing the Required Filings within the anticipated timeline. Forward-looking statements are subject to various risks, uncertainties, and other factors that could cause actual results or events to differ materially from those expressed or implied by such statements. Sankamap does not undertake any obligation to update forward-looking statements or information, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedarplus.ca .
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273235
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Palladium is a lesser-known option for precious metals investors compared to gold and silver, but there are several avenues for investing in the platinum-group metal.
Recently, growing demand and a supply deficit and increased interest have driven interest in ways to invest in palladium. At the same time, precious metals such as gold, silver and the platinum group metals are seeing an influx of safe-haven buying.
Here’s an overview of different ways that market participants can invest in palladium, including profiles of palladium stocks, plus palladium ETFs, bullion and futures.
In this article
What is palladium?
Palladium is a silver-white precious metal that is ductile, durable and resistant to corrosion. The metal also has a high melting point. Its symbol on the periodic table of elements is Pd.
Palladium is included in the platinum-group metals (PGMs) category, which also includes platinum, rhodium, iridium, ruthenium and osmium.
What is palladium used for? Palladium’s biggest use is in catalytic converters in gasoline-powered vehicles as it converts pollutants like hydrocarbons and carbon monoxide into water, carbon dioxide and more.
Palladium demand trends
Total palladium demand for 2025 is expected to come in at 9.63 million ounces, down about 4 percent from the previous year’s demand, according to the World Platinum Investment Council (WPIC), which provides quarterly market overviews.
Palladium’s four biggest demand sectors are automotive at 80.7 percent, industrial at 14.1 percent, investment at 2.9 percent and jewelry at 2.3 percent.
In the automotive industry, palladium is used in catalytic converters for vehicle exhaust systems, especially for gasoline engines. High prices for the metal in the early 2020s led to its sister metal platinum being increasingly substituted for palladium.
Demand from this sector is expected to decline by more than 4 percent year-on-year in 2025 to 7.74 million ounces as global auto sales and production are dropping during this period of economic uncertainty.
Another important factor impacting this segment of the market is the growing market for electric vehicles (EVs), which do not require catalytic converters as they don’t create polluting emissions. The transition to electric is placing downward pressure on palladium demand from the auto sector. However, the slowdown in EV adoption worldwide is lessening the impact.
Demand dynamics are shifting within the auto sector following the enactment of the Trump Administration’s One Big Beautiful Bill. Part of the legislation includes an end to EV tax credits that provided up to US$7,500 to consumers who purchased an EV.
Palladium supply trends
In top palladium country South Africa, there have been many mine disruptions in recent years, largely due to strikes, energy shortages and a lack of long-term investment in production facilities. Despite those risks, miners are still moving forward with palladium development in the region.
Russia is the source of 39 percent of global mined palladium supply. The country’s war in Ukraine has placed it at the other end of the sanctions sword as the world’s leaders try to force President Vladimir Putin to end the bloodshed. In April 2022, bourses in London and Chicago suspended two state-owned Russian refiners from their goods-delivery and sponge-accreditation lists. The US and UK took further steps in 2024 to banned trading of refined Russian metals, including palladium, from exchanges.
Despite a 4 percent decline year-over-year in palladium supply, the WPIC estimates that palladium is set to face supply deficits in 2025 and 2026. This is a continuation of an ongoing supply-demand imbalance in the palladium market. Mine supply of the metal is expected to decline by a compound annual growth rate of 1.1 percent from 2024 to 2029.
In 2025, according to WPIC estimates, palladium supply will see a shortfall of 260,000 ounces of the metal, down significantly from the 689,000 ounce deficit recorded in the previous year.
The market is expected to transition into a surplus in 2027. However, that outlook could change if the palladium recycling segment does not ramp up.
“Notably, the forecast of palladium going into surplus is entirely contingent on recycling supply growth,” states the WPIC. “If this does not materialise then palladium could remain in a deficit for the foreseeable future, which could materially alter palladium value expectations.”
How to invest in palladium
Investors who want exposure to palladium’s market dynamics and the palladium price may be interested in investing in the metal. There are several ways to invest in palladium, including palladium mining stocks, PGM ETFs, palladium bars and coins, and palladium futures.
Palladium stocks
One option investors can use to gain exposure to palladium is investing in palladium mining stocks and junior exploration stocks. Investors can buy palladium stocks through stock brokers and online stock-trading platforms.
Investing in primary palladium companies can be tricky, as most of the world’s palladium is produced as a by-product of platinum and nickel mines. However, companies with diversified exposure to metals can also provide protection during down markets for palladium with revenue from their other products.
To help you learn about palladium stocks you can buy, we profile palladium miners and junior PGM exploration companies below.
Major palladium mining stocks
Eastern Platinum (TSX:ELR,OTC Pink:ELRFF)
Eastern Platinum, or Eastplats, has a number of directly and indirectly owned PGM assets in the Bushveld Complex of South Africa. Eastplats is ramping up production of PGMs, including palladium, and chrome concentrates at Crocodile River’s new Zandfontein underground mine.
Impala Platinum Holdings (OTCQX:IMPUF,JSE:IMP)
Impala Platinum, or Implats, is one of the most prominent platinum and palladium mining companies in the world. The company has majority ownership or joint ventures in four PGM mining operations and a refining facility in South Africa’s Bushveld Complex, two PGM mining operations in Zimbabwe and the Lac des Iles PGM mine in Ontario, Canada.
Sibanye Stillwater (NYSE:SBSW,JSE:SSW)
Sibanye Stillwater is one of the world’s largest primary platinum and palladium producers, and its circular economy business model includes palladium recycling. The company has numerous PGM operations in South Africa and the US. Its US Stillwater and East Boulder operations are in Montana’s Stillwater Complex, the country’s largest source of PGMs.
Valterra Platinum (LSE:VALT,JSE:VAL,OTC Pink:ANGPY)
Valterra Platinum, formerly Amplats, is a leading primary producer of PGMs, supplying mined and recycled platinum products. The company’s operations are the Mogalakwena PGM mine, Amandelbult complex and Mototolo mine in South Africa’s Bushveld Complex. Valterra was demerged from Anglo American (LSE:AAL,OTC Pink:AAUKF) in 2025.
Junior palladium stocks
The following TSXV- and TSX-listed companies are examples of smaller-scale stocks that offer investors exposure to palladium, in addition to platinum and other metals.
Bravo Mining (TSXV:BRVO,OTCQX:BRVMF)
Bravo Mining owns the Luanga PGM-gold-nickel project in the Carajás Mineral Province of Brazil. The project’s 2025 mineral resource estimate shows measured and indicated resources of 10.4 million ounces of palladium equivalent at 2.04 grams per metric ton (g/t).
Canada Nickel Company (TSXV:CNC,OTCQX:CNIKF)
Canada Nickel Company is advancing its Crawford nickel-cobalt sulfide project in the Timmins-Cochrane mining camp of Ontario. The project also hosts significant palladium and platinum mineralized zones.
Canadian North Resources (TSXV:CNRI,OTCQX:CNRSF),
Canada North Resources owns the late-stage Ferguson Lake exploration project in the Kivalliq Region of Nunavut, Canada. The polymetallic project hosts base metals nickel, copper and cobalt as well as PGMs, including 3.53 million ounces of palladium and 630,000 ounces of platinum in the indicated category.
Chalice Mining (ASX:CHN)
Chalice Mining owns the Gonneville project in Western Australia, which holds palladium, platinum, nickel, cobalt and copper. The Western Australia government designated Gonneville a strategic project in recognition of the project’s importance for the country’s critical metals industry, and Chalice expects to complete its pre-feasibility study in November 2025.
Clean Air Metals (TSXV:AIR,OTCQB:CLRMF)
Clean Air Metals is focused on its wholly owned exploration-stage Thunder Bay North critical minerals project in the Thunder Bay region of Ontario, Canada. The project hosts platinum, palladium, copper and niobium mineralization, with an indicated resource of 1.2 million ounces of combined platinum and palladium.
GT Resources (TSXV:GT)
GT Resources is developing critical green transportation metals projects in North America and Europe. Its portfolio includes the North Rock copper-palladium-platinum project in Canada, and the Läntinen Koillismaa copper-palladium-platinum project in Finland.
Ivanhoe Mines (TSX:IVN,OTCQX:IVPAF),
Ivanhoe Mines is developing the Platreef project in South Africa. The Robert Friedland-led company is working on a phased expansion of the project, which is expected to become one of the world’s largest and lowest-cost producers of palladium, platinum, rhodium, nickel, copper and gold.
Lifezone Metals (NYSE:LZM)
Lifezone Metals has developed Hydomet, a hydrometallurgical processing technology, as a cleaner alternative to smelting for base and precious metals refining. The company has a joint venture partnership agreement with Glencore (LSE:GLEN,OTC Pink:GLCNF) in which Lifezone will use Hydromet to recycle palladium, platinum and rhodium, and Glencore will act as the offtaker and marketer.
New Age Metals (TSXV:NAM)
New Age Metals is a junior mineral exploration company developing its discrict-scale River Valley property in Ontario, considered one of North America’s largest undeveloped platinum group element projects. The company also holds a 100 percent interest in the Genesis PGE-copper-nickel project in Alaska.
Platinum Group Metals (TSX:PTM,NYSE:PLG)
Platinum Group Metals is working to bring into production its advanced-stage Waterberg PGM deposit in South Africa’s Bushveld Complex. First discovered by the company, the project is now a joint venture with key partners that include Implats at 14.86 percent. Platinum Group retains a 50.16 percent position in Waterberg and will be the majority operator.
Stillwater Critical Minerals (TSXV:PGE,OTCQB:PGEZF)
Stillwater Critical Minerals is advancing its large-scale flagship Stillwater West platinum, palladium, nickel, copper, cobalt and gold project in Montana, US.
Ramp Metals (TSXV:RAMP)
Ramp Metals owns the Rottenstone SW and PLD projects in Saskatchewan, Canada. Rottenstone is situated adjacent to a northeast-southwest geological formation connected to the historic Rottenstone mine, which produced nickel, PGMs and gold, although Ramp is currently focused on gold and copper at the site.
Palladium ETFs
Palladium-backed exchange-traded funds (ETFs) and products (ETPs) track the precious metal like an index fund, but trade like stocks on an exchange. These palladium and PGM ETFs allow US, Canadian and Australian investors access to the palladium price.
Sprott Physical Platinum and Palladium Trust Unit (ARCA:SPPP,TSX:SPPP)
The Sprott Physical Platinum and Palladium Trust ETF was created to invest and hold substantially all of its assets in physical palladium and platinum bullion. It currently holds over 155,000 ounces of palladium and over 235,000 ounces of platinum. The portfolio is held in custody at a federal crown corporation of the Canadian government.
Aberdeen Standard Physical Palladium Shares (ARCA:PALL)
The Aberdeen Standard Physical Palladium Shares is designed to track the performance of the palladium price, less expenses. It holds over 500,000 ounces of palladium in London at a secured vault belonging to JPMorgan Chase & Co. (NYSE:JPM).
Global X Physical Palladium Structured (ASX:ETPMPD)
Global X Physical Palladium is an ASX-listed platinum ETP that provides Australian investors access to palladium held in JP Morgan storage facilities.
Palladium bars and coins
Another option for investing in palladium is by holding physical assets directly, such as bullion. In fact, financial investors may buy palladium bullion bars, palladium bullion coins or collectible palladium coins for portfolio growth. This approach may suit multiple kinds of investors, from those looking to invest small amounts of money in the metal to those with larger quantities of cash.
Kitco’s online physical palladium market is an example of where investors can buy and sell palladium bars and palladium coins, and this option includes home delivery. Another option is BullionVault’s online palladium marketplace, which allows investors to trade palladium that is stored in vaults, although they do not get to physically hold their metals themselves.
For more information on how to invest in precious metals coins and bullion, check out our guide on buying physical gold, as much of the advice also applies to physical palladium investing.
Palladium futures
Palladium futures, a derivative instrument tied directly to the price of the actual metal, are another key option.
Palladium futures are available for trade on the New York Mercantile Exchange (NYMEX), which is part of the CME Group. For more information on precious metals futures investing, see our guides to gold futures and silver futures.
For investors unfamiliar with futures investing, futures are a financial contract between an investor and a seller, in which the investor agrees to purchase an asset from the seller at an agreed-upon price based on a date set in the future.
Rather than owning physical metals themselves, investors speculating in the futures market are instead making bets on whether the price of a particular commodity will rise or fall in the near future.
For example, if you buy a palladium futures contract believing the price of metal is set to rise, and your prediction proves correct, you could gain a return on your investment by selling the now more valuable futures contract before it expires.
However, they’re not for novice investors, so be sure to do further research if you decide to use this investment method.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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