Ivanhoe Mines’ Platreef project in Limpopo has completed construction of the 4‑Mtpa Shaft #3, broken ground on a 3.3‑Mtpa Phase 2 concentrator and started widening Shaft #2, keeping its Phase 2 expansion on schedule for end‑2027. Hoisting capacity is set to rise five‑fold to about 5 Mtpa, lifting output from roughly 100,000 oz to over 450,000 oz of PGMs plus gold, with a projected Phase 2 life‑of‑mine cash cost of $599/oz net of byproduct credits. A future Phase 3 could take throughput to 10.7 Mtpa and extend mine life by 29 years.

Myriad Uranium’s planned all-share merger with Rush Rare Metals will consolidate control of Wyoming’s Copper Mountain district for the first time since Union Pacific’s 1970s exploration campaign, which totalled the equivalent of C$117 million in today’s dollars. A new technical report compiles historical drilling indicating 16.5–26.7 million lb. U₃O₈ across seven deposits plus Department of Energy/Bendix estimates of 245–655 million lb. in broader “control and assessment” areas, of which Myriad holds 80% and 62% respectively. A 4,500-metre stage-two drill programme in 2024–2025 aims to validate these non-compliant resources and test indications that historical grades were understated.

Gold equities remain priced near a 9.6x next‑12‑month cash flow multiple, only modestly above the five‑year 8.35x average, even as Haywood and BMO call a “structural bull market” with gold up 7.8% year‑to‑date and forecast around US$4,900–5,000/oz through 2027. Haywood flags Equinox Gold’s Valentine and Greenstone projects targeting >500,000 oz/y in Canada, Artemis Gold’s Blackwater expansion, and restart plays such as 1911 Gold’s True North and First Mining’s Springpole pending its environmental assessment. Troilus Mining’s namesake project is modelled at US$7.3 billion NPV and 47% IRR at US$5,000/oz, with a construction decision due by year‑end.