McEwen Mining has secured Mexican federal approval to extend the environmental impact assessment for its El Gallo project in Sinaloa, clearing the way for Phase 1 mill construction targeted to start mid-2026 and first gold pour in 2027. Phase 1 of the Fenix redevelopment will reprocess material from the existing historical leach pad via a new mill and leach circuit, aiming for about 20,000 oz gold-equivalent per year over 10 years, with initial capex estimated at US$42 million. A contemplated Phase 2 would add in-situ silver deposits for an extra US$24 million, potentially extending mine life beyond the current plan.

Sunrise Energy Metals has raised a further A$32.5 million via a 5 million-share placement at A$6.50 to fund pre-construction at its Syerston scandium project in New South Wales, taking total recent equity financing to about A$105 million, with A$59 million still subject to shareholder approval and a potential US EXIM loan of $67 million pending. The Syerston deposit hosts nearly 46 million measured and indicated tonnes grading 414 ppm scandium and is designed to produce about 60 tonnes of scandium per year over a 32-year mine life. Lockheed Martin has already signalled offtake interest for roughly 25% of annual output under the Australia–US critical minerals pact, providing early demand visibility for project development decisions.

Seabridge Gold will spin out its 100%-owned Courageous Lake project in Canada’s Northwest Territories into a new listed vehicle, Valor Gold, distributing shares to existing Seabridge investors. Courageous Lake hosts 11 million oz measured and indicated (145.2 Mt at 2.36 g/t) plus 3.3 million oz inferred (40.6 Mt at 2.52 g/t), including 2.8 million oz of open-pittable proven and probable reserves at 2.6 g/t, with a February 2024 PFS outlining 201,000 oz/year over 12.6 years. At US$1,850/oz gold the PFS gives an after-tax NPV5 of US$523 million and 20.6% IRR, with further upside from a PEA-stage pit expansion and the high-grade Walsh Lake satellite (4.13 Mt at 4.18 g/t) on a largely unexplored ~500 km² land package.