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LaFleur Minerals Inc. (CSE: LFLR,OTC:LFLRF) (OTCQB: LFLRF) (FSE: 3WK0) (‘LaFleur Minerals’ or the ‘Company’ or ‘Issuer’) is pleased to announce that, further to its news releases dated July 30, 2025, and September 10, 2025, the Company has closed its non-brokered flow-through private placement for aggregate gross proceeds of $1,663,370 (the ‘Private Placement’). The Private Placement consisted of the issuance of 2,410,682 flow-through units (the ‘FT Units’) at a price of $0.69 per FT Unit, with each FT Unit consisting of one common share in the capital of the Company (a ‘Share’), to be issued as a ‘flow-through share’ within the meaning of the Income Tax Act (Canada) (the ‘Tax Act’), and one Share purchase warrant (a ‘Warrant’).

The securities issued under the Offering will be subject to a hold period ending on the date that is four months plus one day following the date of issue in accordance with applicable securities laws. Each Warrant entitles the holder thereof to purchase one additional Share (a ‘Warrant Share‘) for a period of 24 months from the date of issuance at an exercise price of $0.75 per Warrant Share. The Warrants are subject to an accelerated expiry upon thirty (30) business days notice from the Company in the event the Shares trade for fourteen (14) consecutive trading days anytime after four (4) months from closing of the Private Placement at a volume-weighted average price of at least $0.90 on the Canadian Securities Exchange.

In connection with closing of the Private Placement, the Company incurred cash finder’s fees in the amount of $104,652.14 to certain eligible finders and issued the finders an aggregate of 151,668 non-transferable Share purchase warrants (the ‘Finder’s Warrants‘). Each Finder’s Warrant is exercisable into a Share (a ‘Finder’s Warrant Share‘) at a price of $0.75 per Finder’s Warrant Share for a period of 24 months from the date of issuance, subject to the same accelerated expiry.

Proceeds from the sale of FT Units will be used for exploration and drilling programs on the Company’s flagship, advanced stage, district-scale Swanson Gold Project (‘Swanson‘), located in the Abitibi Gold Belt in Val-d’Or, Québec, and flow-through eligible work such as ore-sorting and metallurgical testwork of a large bulk sample using independent geometallurgy experts such as SGS and SRC, and the Company’s 100%-owned Beacon Gold Mill, its near-term gold producing asset. The ore-sorting and metallurgical testwork will be completed using drill core and a large bulk sample from the Swanson Gold Deposit in order to inform and support mineral resource estimates and economic viability, including the potential effectiveness of ore-sorting technology at Swanson.

The Company is working diligently with ERM to complete the Preliminary Economic Assessment (PEA) to evaluate the restart of gold production at its Beacon Gold Mill, which will primarily process mineralized material from the Company’s nearby Swanson Gold Deposit. The gross proceeds from the issuance of the FT Shares will be used to incur resource exploration expenses which will constitute ‘Canadian exploration expenses’ as defined in subsection 66.1(6) of the Income Tax Act and ‘flow through mining expenditures’ as defined in subsection 127(9) of the Income Tax Act and under section 359.1 of the Québec Tax Act (the ‘Qualifying Expenditures‘), which will be renounced with an effective date no later than December 31, 2025 to the purchasers of the FT Units in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares. In addition, with respect to Québec resident subscribers who are eligible individuals under the Québec Tax Act, the Canadian exploration expenses will also qualify for inclusion in the ‘exploration base relating to certain Québec exploration expenses’ within the meaning of section 726.4.10 of the Québec Tax Act and for inclusion in the ‘exploration base relating to certain Québec surface mining expenses or oil and gas exploration expenses’ within the meaning of section 726.4.17.2 of the Québec Tax Act. If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each FT Share subscriber for any additional taxes payable by such subscriber as a result of the Company’s failure to renounce the Qualifying Expenditures as agreed.

This news release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act’), and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent an exemption from registration under the U.S. Securities Act and applicable U.S. state securities laws. ‘United States’ and ‘U.S. person’ are as defined in Regulation S under the U.S Securities Act.

QUALIFIED PERSON STATEMENT

All scientific and technical information contained in this news release has been prepared and approved by Louis Martin, P.Geo. (OGQ), Exploration Manager and Technical Advisor of the Company and considered a Qualified Person (QP) for the purposes of NI 43-101.

About LaFleur Minerals Inc.
LaFleur Minerals Inc. (CSE: LFLR,OTC:LFLRF) (FSE: 3WK0) is focused on the development of district-scale gold projects in the Abitibi Gold Belt near Val-d’Or, Québec. Our mission is to advance mining projects with a laser focus on our resource-stage Swanson Gold Deposit and the Beacon Gold Mill, which have significant potential to deliver long-term value. The Swanson Gold Project is approximately 18,304 hectares (183 km2) in size and includes several prospects rich in gold and critical metals previously held by Monarch Mining, Abcourt Mines, and Globex Mining. LaFleur has recently consolidated a large land package along a major structural break that hosts the Swanson, Bartec, and Jolin gold deposits and several other showings which make up the Swanson Gold Project. The Swanson Gold Project is easily accessible by road allowing direct access to several nearby gold mills, further enhancing its development potential. Lafleur Mineral’s fully refurbished and permitted Beacon Gold Mill is capable of processing over 750 tonnes per day and is being considered for processing mineralized material at Swanson and for custom milling operations for other nearby gold projects.

ON BEHALF OF LaFleur Minerals INC.

Paul Ténière, M.Sc., P.Geo.
Chief Executive Officer
E: info@lafleurminerals.com
LaFleur Minerals Inc.
1500-1055 West Georgia Street
Vancouver, BC V6E 4N7

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding ‘Forward-Looking’ Information

This news release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are 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. Forward-looking statements in this news release include, without limitation, statements related to the anticipated use of proceeds from the LIFE Offering. 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 the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272857

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

Cobalt prices regained momentum in the third quarter of 2025 as tighter export controls from the Democratic Republic of Congo (DRC) fueled expectations of a market rebound.

After languishing near multi-year lows early in the year, the metal surged to US$47,110 per metric ton in late October, its highest level since January 2023.

The DRC’s prolonged export suspension, followed by new quota limits, has begun to ease a years-long supply glut, with analysts now forecasting a shift from oversupply toward market balance.

All year-to-date and share price information was obtained on October 28, 2025, using TradingView’s stock screener. Companies with market caps above C$10 million at that time were considered.

1. Talon Metals (TSX:TLO)

Year-to-date gain: 358.82 percent
Market cap: C$440.55 million
Share price: C$0.39

Talon Metals is a base metals company advancing the Tamarack nickel-copper-cobalt project in Central Minnesota, US, through a joint venture with Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO). Talon currently holds a 51 percent stake in the project and can earn up to 60 percent.

In late March, Talon Metals announced a massive sulfide discovery at its Tamarack project, with an intercept measuring 8.25 meters containing 95 percent sulfide content located deeper than the current Tamarack resource.

In May, a further massive sulfide discovery in the same zone, the thickest discovery yet at the site, drove the company’s share price up significantly, and another in early August did the same. In the August announcement, Talon shared that it named the discovery zone the Vault zone.

At the start of Q4, Talon announced an expanded winter drilling and exploration program at the Vault zone.

Shares of Talon rallied to a year-to-date high of C$0.54 on October 14, following the winter drill news and alongside rising cobalt prices.

On October 20, Talon received a 12 month extension from Rio Tinto subsidiary Kennecott Exploration to submit a feasibility study and US$10 million payment required to increase its ownership stake in the Tamarack project to 60 percent.

The extension will allow Talon to align the study’s release with the publication of the project’s scoping environmental assessment worksheet, expected in the first half of 2026, marking its entry into Minnesota’s formal environmental review process.

2. Leading Edge Materials (TSXV:LEM)

Year-to-date gain: 222.22 percent
Market cap: C$72.49 million
Share price: C$0.29

Leading Edge Materials is developing critical materials projects in the EU. The company’s projects include its wholly owned Woxna graphite mine and Norra Kärr heavy rare earth elements project, both in Sweden, as well as its 51 percent owned Bihor Sud nickel-cobalt exploration alliance in Romania.

According to its June 2025 presentation, exploration work planned for 2025 at Bihor Sud’s G2 gallery includes mapping and sampling of cobalt-nickel and zinc-lead-silver mineralized zones detected visually and by hand-held XRF. Drilling targeting polymetallic mineralization at the gallery is underway.

On the financial side, Leading Edge announced a C$400,000 non-brokered private placement in June.

According to a June 22 activities update, Leading Edge’s Romanian subsidiary was granted ownership and operational permits for the Avram Iancu mine at Bihor Sud, and the team had begun preliminary investigations of the site.

In its recent quarterly report, released September 19, Leading Edge Materials said it is reassessing its prospects after being granted those permits. at its project located within the Bihor Sud exploration area following the acquisition of additional ownership and operating permits.

The Avram Iancu site hosts extensive historic underground workings and data indicating copper-rich massive sulfide zones, the statement noted.

A competent person report is in progress to consolidate past exploration and outline next steps, while the company evaluates financing options to advance development.

Shares of Leading Edge also benefited from the mid-October cobalt price rally, registering a year-to-date high of C$0.44 on October 14.

3. Battery Mineral Resources (TSXV:BMR)

Year-to-date gain: 180 percent
Market cap: C$16.79 million
Share price: C$0.14

Battery Mineral Resources is focused on developing into a mid-tier copper producer and recently restarted mine and mill operations at the Punitaqui Mining Complex in Chile. In Canada, the company holds the largest land position in Ontario’s historic Cobalt district, where it is exploring high-grade primary cobalt deposits at McAra, Gowganda and Elk Lake.

The company’s portfolio also includes energy services and mineral exploration assets in North America, along with graphite projects in South Korea.

In late October, BMR said it was evaluating strategic options for its Gowganda silver tailings project, located northeast of Sudbury, Ontario.

The project lies in one of the country’s most productive past silver-cobalt districts, and the Gowganda mining camp produced 60 million ounces of silver and 1.3 million pounds of cobalt between 1910 and 1969. Gowganda hosts four former mines and associated tailings historically estimated to contain 2.96 million ounces of silver. BMR is assessing how best to advance or monetize the asset to enhance shareholder value.

On October 16, Battery Mineral Resources reported strong operational performance at its Punitaqui copper project in Chile, driven by improved underground production and plant optimization. Since September 1, 2025, underground operations have averaged 1,800 tonnes per day, up 80 percent from the first half of the year, and 2,000 tonnes per day over the recent two weeks period.

BMR is also advancing development of additional underground operations at Cinabrio Norte and Dalmacia to support further growth from Punitaqui.

The news pushed shares of BMR to a year-to-date high of C$0.17 on October 21.

4. FPX Nickel (TSXV:FPX)

Year-to-date gain: 95.74 percent
Market cap: C$144.81 million
Share price: C$0.46

FPX Nickel is currently advancing its Decar nickel district in BC, Canada.

The property comprises four key targets, with the Baptiste deposit being the primary focus, alongside the Van target. The company also has three other nickel projects in BC and one in the Yukon, Canada.

In February, FPX released a scoping study for the development of a refinery that would refine awaruite concentrate from Baptiste into battery-grade nickel sulfate and by-products of cobalt carbonate, copper and ammonium sulfate. Annual output is anticipated at 32,000 metric tons of contained nickel and 570 metric tons of contained cobalt.

The results show that the process would result in operating and all-in production costs near the bottom of nickel sulfate cost curve, in part due to by-product credits. Additionally, the carbon intensity of the awaruite refinery would be significantly lower than that of currently used production methods.

On September 4, FPX completed a large-scale mineral processing pilot campaign for its Baptiste nickel project, following three prior successful campaigns. The latest production run generated bulk samples of awaruite concentrate, which will be provided to prospective partners, including pre-cursor cathode active materials, battery producers and automakers, to assess its suitability as feedstock.

Later in the month, FPX signed an option agreement to acquire up to 100 percent of the Advocate nickel property in Newfoundland, Canada, following its review of over 50 targets. The property has also been accepted by the Japan Organization for Metals and Energy Security (JOGMEC) as the first designated property under the generative alliance between FPX and JOGMEC, with a significant work program planned to build on encouraging surface nickel recoveries.

FPX shares registered a year-to-date high of C$0.55 on October 17.

5. Wheaton Precious Metals (TSX:WPM)

Year-to-date gain: 61.23 percent
Market cap: C$60.38 billion
Share price: C$133.00

Wheaton Precious Metals is one of the largest gold and silver royalty and streaming companies.

It has investments in 18 operating mines and 28 development projects across four continents, including a cobalt streaming agreement for Vale’s (NYSE:VALE) Voisey’s Bay nickel mine in Newfoundland and Labrador, Canada.

According to Wheaton, Voisey’s Bay is currently in a transitional phase, shifting from the depleted Ovoid open pit to full underground production.

The company reported its Q1 financial results on May 8. The report highlighted a record US$470 million in revenue, US$254 million in net earnings and US$361 million in operating cash flow.

The cobalt segment registered year-on-year attributable production gains, rising to 540,000 pounds in the year’s first quarter, compared to 240,000 pounds during Q1 2024. Despite the output increase, sales fell to 265,000 pounds in Q1 versus 309,000 pounds in Q1 2024.

According to Wheaton’s Q2 2025 results, the Voisey’s Bay mine produced 647,000 pounds of attributable cobalt, a roughly 150 percent increase from the same period in 2024. Vale reported that the underground operations are steadily ramping up, with full production expected by the second half of 2026 as the transition from the depleted Ovoid open-pit continues.

Shares of Wheaton rose to a year-to-date high of C$159.41 on October 16 alongside rising prices for gold, silver and cobalt.

FAQs for cobalt

What is cobalt?

Cobalt is a silver-gray metal that is often produced as a by-product of nickel and copper mining. It does not occur as a separate metal anywhere in the world, and must be produced by reductive smelting, or from the metallic ore cobaltite, which is made of cobalt, sulfur and arsenic.

What is cobalt used for?

Historically, cobalt oxides were used to impart a blue pigment to glass, porcelain and paints, hence the still-used cobalt blue paint. The metal is also used to produce superalloys, as cobalt imparts qualities such as corrosion and wear resistance, which are useful in applications such as airplanes, orthopedics and prosthetics.

Today cobalt is most famously used in the rechargeable lithium-ion batteries that run everything from smartphones to EVs.

Where is cobalt mined?

The majority of cobalt production comes out of the DRC, which was responsible for producing 220,000 metric tons of the material in 2024. For perspective, the second largest cobalt-producing country, Indonesia, reported output of 28,000 MT the same year; third place Russia produced 8,700 MT of the material.

As the lithium-ion battery and EV supply chains garner global attention, companies are trying to limit their exposure to cobalt produced from the DRC, which is known for human rights abuses and sometimes child labor in its mining industry.

In response to this trend, many countries with cobalt are attempting to create domestic cobalt and EV supply chains in the hope of attracting companies looking to avoid DRC-sourced cobalt. This can be seen in the up-and-coming battery corridor in Ontario, Canada, as well as in the US-based Idaho cobalt belt.

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

This post appeared first on investingnews.com

The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

Steve Barton, host of In It To Win It, weighs in on the pullback in gold and silver prices, sharing where the floors could be for both precious metals.

In his view, the correction is healthy and will lead to higher levels in the future.

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

This post appeared first on investingnews.com

The Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) (‘Heliostar’ or the ‘Company’) Annual General & Special Meeting (‘AGM’) is scheduled for November 26th, 2025. The Company’s Chairman, Jacques Vaillancourt and director Ken Booth will step down at the AGM, and Mr James Perry is proposed to succeed Mr. Vaillancourt as Chairman.

Heliostar’s Chairman, Jacques Vaillancourt, commented on his retirement from the board. ‘The Company has changed immensely from my initial involvement and investment. It has grown and evolved from a portfolio of prospective exploration assets in Alaska and Nevada to now producing gold from two mines in Mexico, La Colorada and San Agustin. That alone would be a significant corporate achievement, but these producing mines are complemented by a very exciting development portfolio of 100% owned projects, which include Ana Paula, Cerro del Gallo and San Antonio. All of this is evidence of the talent, competence and the day-in and day-out diligence of the management team, led by Charles Funk. I leave a Company operationally, financially and geologically stronger than ever and in very good hands.’

Charles Funk, President and & CEO, stated, ‘I wish to thank Jacques and Ken for their leadership and guidance as we have built Heliostar over the last five years. The Company has come a long way, and their contributions to this growth have been significant. As we continue to expand production towards our goal of 500,000 ounces of annual production by the end of this decade, we look forward to welcoming James Perry to the Company’s board as Heliostar’s proposed new Chairman.’

James Perry is proposed to succeed Mr. Vaillancourt as Chairman and will be put forward for approval by the shareholders at the upcoming AGM. Mr. Perry is currently President of Sweetwater Royalties, a base metals, industrial minerals and renewable energy royalty Company based in Denver, Colorado. Sweetwater, one of the largest landowners in the United States, is a privately held company established in 2020 by Orion Resource Partners. Mr. Perry has extensive mining and resources experience across Latin America, having previously served as Business Development Manager, as well as Corporate Counsel at Newcrest Mining, one of the world’s largest gold mining companies, headquartered in Australia. Newcrest was acquired for US$19 billion by Newmont Mining in 2023. Mr. Perry attended the London School of Economics, receiving an M.Sc. in History and International Relations, as well as earning a Bachelor of Laws from Bond University.

Heliostar Annual General & Special Meeting Voting Instructions

Heliostar’s Annual General & Special Meeting will be held on November 26, 2025, at 8:00 am PST. The shareholders as of the record date of October 10, 2025, will be entitled to vote and are encouraged to vote before the proxy voting deadline on November 24, 2025, at 8 am PST. Due to the Canada Post service disruption, paper documents may take longer to arrive; however, shareholders can still vote their shares with the following instructions.

How Registered Shareholders Can Vote: Registered shareholders are shareholders who hold their shares directly in the Company, and not through a brokerage account or depository company. Registered shareholders can call Computershare Shareholder Services at 1-800-564-6253 (Canada/US) or, for overseas holders, call the direct dial number 1-514-982-7555 (Monday to Friday, 8:30 am to 8:00 pm EST) to request their voting control numbers.

How Beneficial Shareholders Can Vote: Beneficial shareholders are shareholders who hold their investment through a brokerage house, depository company or other intermediary. There are two types of beneficial owners: (i) those who object to their identity being made known to the issuers of securities which they own (‘Objecting Beneficial Owners’ or ‘OBOs’), and (ii) those who do not object to their identity being made known to the issuers of securities which they own (‘Non-Objecting Beneficial Owners’ or ‘NOBOs’). The Company is sending meeting materials directly to NOBOs. NOBOs may submit their votes by completing the Voting Instruction Form (‘VIF’) available on the Company’s website and sending the completed VIF to Computershare by email at service@computershare.com. NOBOs can also contact Computershare at 1-800- 564-6253 to request their voting control numbers and instructions.

OBOs should contact their brokerage house or other intermediary and ask to obtain their voting control number and instructions to be able to vote on the Broadridge voting site www.proxyvote.com.

About Heliostar Metals Ltd.

Heliostar is a gold mining company with production from operating mines in Mexico. This includes the La Colorada Mine in Sonora and the San Agustin Mine in Durango. The Company also has a strong portfolio of development and exploration stage projects in Mexico and the USA. These include the Ana Paula project in Guerrero, the Cerro del Gallo project in Guanajuato, the San Antonio project in Baja Sur, all in Mexico and the Unga project in Alaska, USA.

For Additional Information, Please Contact:

Charles Funk
President and Chief Executive Officer
Heliostar Metals Limited
Email: charles.funk@heliostarmetals.com
Phone: +1 844-753-0045
Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: rob.grey@heliostarmetals.com
Phone: +1 844-753-0045

 

Neither 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 release.

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain ‘Forward-Looking Statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995 and ‘forward-looking information’ under applicable Canadian securities laws. When used in this news release, the words ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘target’, ‘plan’, ‘forecast’, ‘may’, ‘would’, ‘could’, ‘schedule’ and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things, the Company’s annual production goals.

Forward-looking statements and forward-looking information relating to the terms and completion of the Facility, any future mineral production, liquidity, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the receipt of necessary approvals, price of metals; no escalation in the severity of public health crises or ongoing military conflicts; costs of exploration and development; the estimated costs of development of exploration projects; and the Company’s ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect the Company’s respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political, and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company’s mining activities in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company’s management team and outside contractors; risks regarding exploration and mining activities; the Company’s inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises, ongoing military conflicts and general economic factors to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company’s interactions with surrounding communities; the Company’s ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption ‘Risk Factors’ in the Company’s public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272637

News Provided by Newsfile via QuoteMedia

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Falco Resources Ltd. (TSX.V: FPC) (‘ Falco ‘ or the ‘ Corporation ‘) is pleased to announce that the Corporation has entered into binding agreements (i) with OR Royalties Inc. (‘ OR Royalties ‘) in order to extend the maturity date of the Corporation’s existing convertible secured senior loan (the ‘ OR Royalties Loan ‘) from December 31, 2025, to December 31, 2026; and (ii) with Glencore Canada Corporation (‘ Glencore ‘) in order to extend the maturity date of the Corporation’s existing senior secured convertible debenture (the ‘ Glencore Debenture ‘) from December 31, 2025, to December 31, 2026.

Luc Lessard, President and Chief Executive Officer of the Corporation commented: ‘ The concurrent extensions of the Corporation’s senior debts demonstrate the strong relationship and long-standing support of OR Royalties and Glencore to Falco and the development of the Horne 5 Project. Such extensions provide the Corporation with additional flexibility to pursue the permitting and development of the Horne 5 Project.’

Amendments to the OR Royalties Loan

In consideration for the extension of the maturity date of the OR Royalties Loan, the OR Royalties Loan will also be amended effective as of December 31, 2025, in order for (i) the accrued interest on the existing OR Royalties Loan to be capitalized such that the principal amount of the amended OR Royalties Loan will be approximately $26,098,521, (ii) the conversion price to be maintained at $0.45 per Common Share, and (iii) the interest rate to be maintained at 9% (collectively, the ‘ OR Royalties Loan Amendments ‘). The 17,690,237 warrants of the Corporation currently held by OR Royalties (the ‘ Existing OR Royalties Warrants ‘), each exercisable for one Common Share at an exercise price of $0.58 per Common Share, will remain outstanding in accordance with their terms until their expiry on December 31, 2025. In consideration for the extension of the maturity date of the OR Royalties Loan, the Corporation will issue to OR Royalties, on December 31, 2025, 19,332,237 warrants (the ‘ New OR Royalties Warrants ‘), each exercisable at any time from and after January 1, 2026, for one common share of Falco (the ‘ Common Shares ‘) at an exercise price of $0.58 per Common Share and expiring on December 31, 2026.

Amendments to the Glencore Debenture

In consideration for the extension of the maturity date of the Glencore Debenture, the Glencore Debenture will also be amended effective as of December 31, 2025 (the ‘ Amended Glencore Debenture ‘) in order for (i) the accrued interest on the existing Glencore Debenture up to December 31, 2025, to be capitalized such that the principal amount of the amended Glencore Debenture will be approximately $15,433,754, (ii) the conversion price to be maintained at $0.37 per Common Share, and (iii) the interest rate to be maintained at 10% (collectively, the ‘ Glencore Debenture Amendments ‘). The 19,424,944 Common Share purchase warrants currently held by Glencore (the ‘ Existing Glencore Warrants ‘) will remain outstanding in accordance with their terms until their expiry on December 31, 2025. In consideration for the extension of the maturity date of the Glencore Debenture, the Corporation will issue to Glencore, on December 31, 2025, 21,381,422 warrants (the ‘ New Glencore Warrants ‘), each exercisable at any time from and after January 1, 2026, at an exercise price of (i) $0.38 per Common Share for 15,061,158 of the New Glencore Warrants and (ii) $0.42 per Common Share for the remaining 6,320,264 New Glencore Warrants, and expiring on December 31, 2026.

The OR Royalties Loan Amendments and the issuance of the New OR Royalties Warrants (the ‘ OR Royalties Transactions ‘) are considered ‘related party transactions’ under Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions (‘ Regulation 61-101 ‘). The OR Royalties Transactions are exempt from the requirements to obtain a formal valuation pursuant to section 5.5(b) of Regulation 61-101. However, Falco is required to obtain minority approval for the OR Royalties Transactions as none of the exemptions contained under Regulation 61-101 are currently available to the Corporation.

Closing of the OR Royalties Transactions is conditional upon (i) obtaining minority approval of the shareholders of the Corporation, excluding the Common Shares held by the directors and officers of OR Royalties, to be sought at the special meeting of shareholders of the Corporation to be held on December 15, 2025 (the ‘ Shareholders’ Meeting ‘), (ii) approval of the TSX Venture Exchange, and (iii) concurrent closing of the Glencore Debenture Amendments and the issuance of the New Glencore Warrants on the terms described herein.

Closing of the Glencore Debenture Amendments and the issuance of the New Glencore Warrants is conditional upon (i) approval of the TSX Venture Exchange, and (ii) concurrent closing of the OR Royalties Transactions on the terms described herein. Subject to satisfaction of such conditions, closing of the OR Royalties Loan Amendments and the Glencore Debenture Amendments, and closing of the OR Royalties Transactions is expected to occur concurrently on December 31, 2025. Additional information will be included in the management proxy circular to be filed at www.sedarplus.ca.

Prior to the transactions contemplated by this press release, OR Royalties held the OR Royalties Loan in the principal amount of $23,881,821, which is convertible into 53,070,713 Common Shares and also held 17,690,237 Existing OR Royalties Warrants, representing approximately 17.01% of the issued and outstanding Common Shares on a partially diluted basis assuming the conversion in full of the OR Royalties Loan and the exercise in full of the 17,690,237 Existing OR Royalties Warrants. Immediately following closing, on a partially diluted basis assuming the conversion in full of the OR Royalties Loan and the exercise in full of the New OR Royalties Warrants, OR Royalties would have beneficial ownership of, or control and direction over 77,328,950 Common Shares, representing approximately 18.30% of the Common Shares issued and outstanding.

About Falco

Falco is one of the largest mineral claim holders in the province of Québec, with an extensive portfolio of properties in the Abitibi-Témiscamingue greenstone belt. Falco holds rights to approximately 67,000 hectares of land in the Noranda Mining Camp, which represents 67% of the camp as a whole and includes 13 former gold and base metal mining sites. Falco’s main asset is the Horne 5 project located beneath the former Horne mine, which was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Osisko Development Corp. is Falco’s largest shareholder, with a 16% interest in the Corporation.

For further information, please contact:
Luc Lessard
President, Chief Executive Officer and Director
514-261-3336
info@falcores.com

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 press release.

Cautionary Statement on Forward-Looking Information

This news release contains forward-looking statements and forward-looking information (together, ‘forward-looking statements’) within the meaning of applicable securities laws. Often, but not always, forward-looking statements can be identified by words such as ‘plans’, ‘expects’, ‘seeks’, ‘may’, ‘should’, ‘could’, ‘will’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’, ‘believes’, or variations including negative variations thereof of such words and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. These statements are made as of the date of this news release. Without limiting the generality of the foregoing statements, the statements relating to the OR Royalties Loan Amendments, the Glencore Debenture Amendments, as well as the issuance of the New Glencore Warrants and New OR Royalties Warrants are forward-looking statements and will not be completed until approved by the TSX Venture Exchange and until appropriate shareholder approval is obtained with respect to OR Royalties Loan Amendments and the issuance of the OR Royalties Warrants. There is no assurance that the approval of the TSX Venture Exchange to such transactions will be obtained nor that shareholder approval with respect to OR Royalties Loan Amendments and the issuance of the OR Royalties Warrants will be obtained. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk factors set out in Falco’s annual and/or quarterly management discussion and analysis and in other of its public disclosure documents filed on SEDAR+ at www.sedarplus.ca, as well as all assumptions regarding the foregoing. Although the Corporation believes the forward-looking statements in this news release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Consequently, the Corporation cautions investors that any forward-looking statements by the Corporation are not guarantees of future results or performance and that actual results may differ materially from those in forward-looking statements.

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(TheNewswire)

Brossard, Quebec TheNewswire – le 31 octobre 2025 CORPORATION CHARBONE (TSXV: CH,OTC:CHHYF; OTCQB: CHHYF; FSE: K47) (« CHARBONE » ou la « Société »), un producteur et distributeur nord-américain spécialisé dans l’hydrogène propre Ultra Haute Pureté (« UHP ») et les gaz industriels stratégiques, a le plaisir d’annoncer qu’elle a retenu les services de la société de communication corporative américaine RB Milestone Group LLC (« RBMG ») pour ses relations aux investisseurs. Ces services comprennent le conseil en communications corporatives, l’organisation de tournée promotionnelle hors transaction, la veille concurrentielle et la mise en relation de partenaires commerciaux potentiels aux dirigeants de la Société. RBMG a été mandatée pour une durée initiale de six mois, à compter du 20 octobre 2025. Le montant total de la prestation, d’un montant de 59 500 USD, est payable en argent et facturé mensuellement. À l’issue de cette période, le contrat est reconduit automatiquement chaque mois jusqu’à sa résiliation. RBMG est une entité indépendante de la Société. La présente entente est soumise à l’approbation des autorités réglementaires compétentes.

Dave B. Gagnon, PDG de CHARBONE , a commenté : « Nous sommes ravis d’accueillir l’équipe de RBMG, un atout majeur pour notre stratégie de communication et de relations avec les investisseurs aux États-Unis et au Canada. Leur expertise reconnue des marchés financiers, leur visibilité corporative et leurs conseils stratégiques seront essentiels pour CHARBONE qui entame sa prochaine phase de croissance et d’expansion en Amérique du Nord. Cette collaboration renforce notre engagement en faveur de la transparence, du dialogue avec nos actionnaires et de la création de valeur à long terme . »

À propos de RB Milestone Group LLC

Fondée en 2009, RB Milestone Group LLC (« RBMG ») est une agence de communication américaine spécialisée dans le conseil en relations aux investisseurs. Elle possède des bureaux à New York et à Stamford (Connecticut). Son pôle de conseil américain propose des programmes de relations aux investisseurs sur mesure aux entreprises émergentes, qu’elles soient privées ou cotées sur les marchés NYSE, NASDAQ, OTCQB, OTCQX, TSX, TSXV, CSE, ASX et AIM. RBMG affine les stratégies de communication, analyse les données et conseille ses clients sur la manière de pénétrer de nouveaux marchés. Elle les aide à cibler et à nouer des relations avec des acteurs clés aux États-Unis et des acteurs stratégiques de leur secteur à l’échelle mondiale. Grâce aux techniques numériques, à l’intelligence artificielle (IA) et à l’apprentissage automatique, RBMG a développé des méthodes qui optimisent les initiatives traditionnelles de relations aux investisseurs de ses clients afin de maximiser leur retour sur investissement. RBMG collabore avec des clients issus de nombreux secteurs d’activité, notamment : le cannabis, les technologies propres, les biens de consommation, les cryptomonnaies, la fintech, la santé, les métaux et l’exploitation minière, les services professionnels, les énergies renouvelables et les technologies. Pour en savoir plus sur RBMG, veuillez consulter le site : www.rbmilestone.com .

Mise à jour des termes d’un règlement de dette par actions

CHARBONE annonce une mise à jour de son règlement de dette par actions, précédemment divulgué et daté du 14 août 2025. À la suite de discussions avec la Bourse de croissance TSX, notamment un examen des restrictions imposées aux opérations d’échange d’actions contre dettes dans le contexte des services de tenue de marché, la Société a révisé le montant total et le nombre d’actions à émettre dans le cadre du règlement. Selon les modalités révisées, CHARBONE réglera 30 000 $ du montant initial de 118 095 $ payable à un teneur de marché indépendant par l’émission d’actions ordinaires. La Société a négocié avec succès que le solde restant sera réduit de la valeur des actions au cours actuel du marché. À la clôture de l’opération, CHARBONE émettra 500 000 actions ordinaires. Le règlement fera l’objet d’une entente formelle et demeure assujetti à l’approbation finale de la Bourse de croissance TSX. Les actions ordinaires émises seront assujetties à la période de détention légale de quatre mois.

À propos de CORPORATION CHARBONE

CHARBONE est une entreprise intégrée spécialisée dans l’hydrogène propre Ultra Haute Pureté (UHP) et la distribution stratégique de gaz industriels en Amérique du Nord et en Asie-Pacifique. Elle développe un réseau modulaire de production d’hydrogène vert tout en s’associant à des partenaires de l’industrie pour offrir de l’hélium et d’autres gaz spécialisés sans avoir à construire de nouvelles usines coûteuses. Cette stratégie disciplinée diversifie les revenus, réduit les risques et augmente sa flexibilité. Le groupe Charbone est coté en bourse en Amérique du Nord et en Europe sur la bourse de croissance TSX (TSXV: CH,OTC:CHHYF) ; sur les marchés OTC (OTCQB: CHHYF) ; et à la Bourse de Francfort (FSE: K47) . Pour plus d’informations, visiter www.charbone.com .

Énoncés prospectifs

Le présent communiqué de presse contient des énoncés qui constituent de « l’information prospective » au sens des lois canadiennes sur les valeurs mobilières (« déclarations prospectives »). Ces déclarations prospectives sont souvent identifiées par des mots tels que « a l’intention », « anticipe », « s’attend à », « croit », « planifie », « probable », ou des mots similaires. Les déclarations prospectives reflètent les attentes, estimations ou projections respectives de la direction de Charbone concernant les résultats ou événements futurs, sur la base des opinions, hypothèses et estimations considérées comme raisonnables par la direction à la date à laquelle les déclarations sont faites. Bien que Charbone estime que les attentes exprimées dans les déclarations prospectives sont raisonnables, les déclarations prospectives comportent des risques et des incertitudes, et il ne faut pas se fier indûment aux déclarations prospectives, car des facteurs inconnus ou imprévisibles pourraient faire en sorte que les résultats réels soient sensiblement différents de ceux exprimés dans les déclarations prospectives. Des risques et des incertitudes liés aux activités de Charbone peuvent avoir une incidence sur les déclarations prospectives. Ces risques, incertitudes et hypothèses comprennent, sans s’y limiter, ceux décrits à la rubrique « Facteurs de risque » dans la déclaration de changement à l’inscription de la Société datée du 31 mars 2022, qui peut être consultée sur SEDAR à l’adresse www.sedar.com; ils pourraient faire en sorte que les événements ou les résultats réels diffèrent sensiblement de ceux prévus dans les déclarations prospectives.

Sauf si les lois sur les valeurs mobilières applicables l’exigent, Charbone ne s’engage pas à mettre à jour ni à réviser les déclarations prospectives.

Ni la Bourse de croissance TSX ni son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n’acceptent de responsabilité quant à la pertinence ou à l’exactitude du présent communiqué.

Pour contacter Corporation Charbone :

Téléphone bureau: +1 450 678 7171

Courriel: ir@charbone.com

Benoit Veilleux

Chef de la direction financière et secrétaire corporatif

Copyright (c) 2025 TheNewswire – All rights reserved.

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(TheNewswire)

Brossard, Quebec TheNewswire – October 31, 2025 CHARBONE CORPORATION (TSXV: CH,OTC:CHHYF; OTCQB: CHHYF; FSE: K47) (‘ CHARBONE ‘ or the ‘ Company ‘), a North American producer and distributor specializing in clean Ultra High Purity (‘ UHP ‘) hydrogen and strategic industrial gases, is pleased to announce that the Company has retained the US-based corporate communications firm, RB Milestone Group LLC (‘ RBMG ‘), to provide investor relations services including corporate communications advisory, non-deal roadshow advisory, market intelligence advisory, and business referrals to the management team of the Company. RBMG has been retained for an initial term of 6-months starting October 20, 2025, paid in cash totalling US$59,500 and billed on a monthly basis. Following the first 6-months, the agreement auto renews on a monthly basis until termination. RBMG is at arm’s length to the Company. The agreement is subject to regulatory approval.

Dave B. Gagnon, CEO of CHARBONE , commented: ‘ We are very pleased to welcome the RBMG team as a key addition to our communications and investor relations strategy in the United States and Canada. Their proven expertise in capital markets, corporate visibility, and strategic advisory will play a vital role as CHARBONE enters its next phase of growth and expansion across North America. This collaboration reinforces our commitment to transparency, shareholder engagement, and long-term value creation.

About RB Milestone Group LLC

Founded in 2009, RB Milestone Group LLC (‘RBMG’) is a US-based corporate communications firm that specializes in investor relations advisory and has offices in New York City and Stamford, Connecticut. RBMG’s US advisory practice delivers investor relations programs tailor-made for emerging companies that are private and publicly traded on the NYSE, NASDAQ, OTCQB, OTCQX, TSX, TSXV, CSE, ASX and AIM. RBMG refines communications strategies, weighs data and advises clients on how to penetrate new markets. It helps clients target and secure relationships with niche US stakeholders and key industry strategics globally. Utilizing digital techniques, artificial intelligence (AI) and machine learning, RBMG has developed methods that improve traditional client IR initiatives to maximize ROI. RBMG partners with clients across a wide range of industry segments, including: Cannabis, Cleantech, Consumer Goods, Crypto, Fintech, Healthcare, Metals & Mining, Professional Services, Renewable Energy, and Technology. To learn more about RBMG please visit: www.rbmilestone.com .

Updated Terms of Shares-for-Debt Settlement

CHARBONE announces an update to its previously disclosed shares-for-debt settlement dated August 14, 2025. Following discussion with the TSX Venture Exchange, including a review of the restrictions imposed upon shares for debt transactions in the context of market making services, the Company has revised the total amount and number of shares to be issued under the settlement.  Under the revised terms, CHARBONE will settle $30,000 of the original $118,095 payable to an arm’s-length market maker through the issuance of common shares. The Company successfully negotiated that the remaining balance will be reduced by the value of the shares at the current market price.  Upon closing, CHARBONE will issue 500,000 common shares. The settlement will be documented in a formal agreement and remains subject to final approval by the TSX Venture Exchange.  The common shares issued will be subject to the statutory four-month hold period.

About CHARBONE CORPORATION

CHARBONE is an integrated company specializing in clean Ultra High Purity (UHP) hydrogen and the strategic distribution of industrial gases in North America and Asia-Pacific. Through a modular approach, the Company is building a distributed network of green hydrogen production plants while diversifying revenues via helium and specialty gas partnerships. This disciplined model reduces risk, enhances flexibility, and positions CHARBONE as a leader in the transition to a low-carbon future. CHARBONE is listed on the TSX Venture Exchange (TSXV: CH,OTC:CHHYF) , the OTC Markets (OTCQB: CHHYF) , and the Frankfurt Stock Exchange (FSE: K47) . Visit www.charbone.com .

Forward-Looking Statements

This news release contains statements that are ‘forward-looking information’ as defined under Canadian securities laws (‘forward-looking statements’). These forward-looking statements are often identified by words such as ‘intends’, ‘anticipates’, ‘expects’, ‘believes’, ‘plans’, ‘likely’, or similar words. The forward-looking statements reflect management’s expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under ‘Risk Factors’ in the Corporation’s Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.

Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.

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

Contact Charbone Corporation

Telephone: +1 450 678 7171

Email: ir@charbone.com

Benoit Veilleux

CFO and Corporate Secretary

Copyright (c) 2025 TheNewswire – All rights reserved.

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The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

Dr. Mark Thornton, senior fellow at the Mises Institute, discusses the factors that have taken the gold price to all-time highs. In his view, the key driver is government actions like overspending, borrowing and money printing, none of which are likely to abate soon.

He also shares his bullish outlook for silver.

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

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