On the morning Quantum eMotion Corp. (NYSE American: QNC) (TSXV: QNC) began trading on the NYSE American, Darren Cudmore opened the interview without understatement. “Today is a really important day for this company,” he said, noting that the shares of Quantum eMotion Corp. had moved “from the pinks to the QBs to the American Exchange.”

The company announced on February 24, 2026, that its shares had begun trading on the NYSE American under the ticker “QNC,” while remaining listed on the TSX Venture Exchange as QNC and on the Frankfurt Stock Exchange as 34Q0. The uplisting followed prior approval and, according to the company, marked “a significant advancement” in its strategy to expand its U.S. shareholder base and increase U.S. capital markets exposure. Yorkville Securities, LLC acted as adviser in connection with the listing.

Asked about the process, Francis Bellido, President, CEO and Director, compared it to scientific research. “The process is very similar to actually working in deep science, in deep discovery,” he said. “For a long time nothing happens, particularly when you don’t have so many resources. You’re limited and you have to focus on one or two technologies and make them grow in an environment where having access to funding is extremely difficult at the beginning. Nobody really believes you.”

“You really have to be what we call a real entrepreneur,” he continued. “You never say no and you continue until the moment. I’m old enough now to trust more my intuition. When you feel there is something there and your experience tells you it’s just a matter of time — I’ve seen many groundbreaking technologies that at the beginning nobody wanted to pay attention to, people were laughing at them, and ultimately those technologies transformed the world.”

The company’s core technology is its QRNG, or Quantum Random Number Generator. “QRNG is the acronym for the Quantum Random Number Generator,” Dr. Bellido said. In cybersecurity, he explained, “cyber criminals always look for errors that have been made in the architecture of systems used to defend against third parties.” They search for patterns. “Humans love patterns, and even when you choose passwords you tend to repeat mistakes. At every level there is a pattern — that’s what they’re looking for.”

“The only way you can defend yourself against patterns is to introduce unpredictability, complete randomness, in your defense architecture,” he said. “The world we live in is not completely random. Everything has a level of determinism. If you want pure randomness, you have to rely on quantum mechanics.”

Describing the mechanism, he said: “When you work with quantum particles like photons or electrons, they have a dual nature — they behave both as particles and as waves. In our technology, we create a stream of electrons like a regular current and create a barrier where electrons bounce back. Once in a while, they behave like a wave and tunnel through the barrier. The current after the barrier becomes completely time dependent — completely erratic, and completely random. That becomes the analog source that we then digitize.”

Dr. Bellido credited physicist Bertrand Reulet, who will attend the bell-ringing ceremony in New York. “We have an excellent relationship. I call him almost every two weeks, depending on what we need,” he said. “For him, it’s a great achievement. Very few professors in physics, particularly quantum physics, see the results of what they’ve invented during their lifetime.”

The company has also formed a relationship with Greybox, whose chief executive, Pierre Bérubé, he said he spoke with the evening before the ceremony. “We have known each other for almost three years. We helped them from the beginning to understand the importance of security.”

Greybox is developing what Dr. Bellido described as “one of the best digital therapeutic platforms in North America.” The platform allows healthcare providers to interact with patients suffering from chronic diseases remotely. “Patients traditionally take measurements maybe once a week. With digital devices combined together, monitoring can be done in real time. With AI, the platform can follow patients and predict trends in vitals, identifying early signs such as a potential heart attack.”

“What we did was secure that platform,” he said. “Security in healthcare is still a jungle. When information is exchanged with patients at home, the provider is responsible for security. You cannot rely on the patient’s security environment. So behind their platform — called TAKECARE — we embedded our security platform. Greybox now knows nothing can go wrong from a security perspective.”

The company’s mission, as stated in its corporate materials, is to address the growing demand for affordable hardware and software security for connected devices. It intends to target financial services, healthcare, blockchain applications, cloud-based IT security infrastructure, classified government technologies and communication systems, secure device keying for IoT, automotive and consumer electronics, and quantum cryptography.

At a recent ISC2 conference, where the company was a diamond sponsor, Dr. Bellido said, “Fear is not in my vocabulary anymore. If you’re scared, don’t do this job.” He described the event as “a very successful meeting,” adding, “Part of our job is to make ourselves known. The move to the New York Stock Exchange increases our reach.”

The broader reach includes institutional ownership. Dr. Bellido noted that a quantum-focused exchange-traded fund acquired approximately 2.2 percent of the company on the secondary market. “That came as a big surprise because they bought shares on the secondary market without even calling us,” he said. “I thought it was a joke when I heard an ETF had become a major holder. So far they have done well. The investment has been rewarding.”

He added that the company seeks “more ETFs and institutional investors who are patient. Our technology is still young and requires patience.” Prior to the uplisting, he said, ownership was “about 90% retail,” which he described as “one of the weaknesses of the company.” “Many funds cannot invest in OTC stocks,” he said. “Being on the New York Stock Exchange gives access to a completely different crowd.”

Following the listing, the company ceased trading on the OTCQB market. Dr. Bellido stated in the company’s release, “Today marks the start of an exciting new period for Quantum eMotion. One which enables us to have broad access to the largest capital market in the world. This will allow even more investors to participate in our exciting future and positions us to continue our work pioneering innovative quantum cybersecurity solutions globally.”

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TORONTO, ON — February 26, 2026 — InvestorNews.com announced today that it is returning as a media sponsor for PDAC 2026, the world’s premier mineral exploration and mining convention taking place March 1–4, 2026 in Toronto. 

As part of its on-site media sponsorship, InvestorNews.com will be positioned on Stage 1 – Level 700, offering attendees a dedicated destination for executive interviews and capital markets conversations focused on the global mining and critical minerals landscape. 

“PDAC is where the world’s mineral industry meets capital—ideas become partnerships, and partnerships become projects,” said Tracy Hughes, Founder and CEO. “For more than a decade, we’ve been proud to support PDAC as a media sponsor and to amplify the people building the next generation of mineral supply chains. Our mission has always been simple: For Investors. By Investors.”

PDAC describes PDAC 2026 as a global convening for the mineral exploration and mining development community, bringing together an audience of more than 27,000 attendees from over 125 countries and hosting more than 1,300 exhibitors and 700 presenters. 

InvestorNews.com is recognized within PDAC’s 2026 media partner roster, and PDAC’s onsite media guidance highlights dedicated media-partner stages and related visibility opportunities for attendees across the convention footprint. 

InvestorNews.com will publish on-the-ground coverage and executive interviews during PDAC 2026, distributing conversations to investors and industry stakeholders through its digital channels, including video and podcast distribution. 

InvestorNews.com is also the official media partner for the Critical Minerals Institute, supporting its mission through regular virtual events and the annual Critical Minerals Institute Summit Series, helping foster collaboration, research, and innovation across the critical minerals sector. 

About InvestorNews Inc. “For Investors. By Investors.”

Founded in 2001, InvestorNews Inc. has been a trusted voice in capital markets for nearly 25 years, delivering insightful, independent coverage of public markets and executive interviews. As the publisher of InvestorNews.com and host of the @Investor_News YouTube channel, InvestorNews distributes its interviews across five major podcast platforms—Spotify, Apple Podcasts, iHeartRadio, Amazon Music, and Pocket Casts—accessible through InvestorPodcasts.com. InvestorNews remains a prominent player in shaping the conversation around global demand for critical minerals, providing timely coverage and market intelligence for investors and industry leaders.

InvestorNews is also the official media partner for the Critical Minerals Institute (CMI), supporting its mission through regular virtual events and the annual Critical Minerals Institute Summit Series to foster collaboration, research, and innovation across the critical minerals sector.

For more information, contact: InvestorNews Media Relations • Email: [email protected] • Phone: +1 416 647 7714

Perspective is the key to objectivity. The title of this essay is a salute to Cole Porter, who famously wrote the lyrics, “Potato, potatoe, let’s call the whole thing off” to describe a romantic situation where two lovers are saying the same thing in different ways and cannot understand that there’s no difference between them.

The United States Government, through the Department of War, exercises monopsony power. The Department of War specifies the requirements for a military-use personal weapon, aircraft, ship, or vehicle, and then awards a single-source contract to a single supplier, with no further competition allowed. There will only be one buyer, the Department of War, and that buyer will set the price.

According to Google: “A monopsony is a market situation with only one buyer (the monopsonist) for a good, service, or labor, giving them dominant control over sellers and the power to lower prices or wages. It is the opposite of a monopoly (one seller) and causes inefficiencies, often resulting in lower wages for workers or lower prices paid to suppliers.“ However, in the case of government as the monopsonist, the result is usually higher prices, given that this practice creates a monopoly supplier.

The DoW has always practiced Industrial Policy. It, not the marketplace, determines what it needs, and then it bids out procurement of those needs to a small group of pre-qualified military-industrial suppliers and chooses just one of them, designated after the award as the “systems integrator” to provide the finished goods or services. It’s then up to the systems integrator to select its own sub-suppliers and to qualify them.

I have been trying to understand how the U.S. government could be making investment decisions based on a complete disregard for the long-term consequences of such decisions, other than their immediate effect on the share prices of the selected ventures. My conclusion is that the American education system is the problem. The decision makers in Washington, their chosen suppliers,  and, to a lesser extent, Wall Street simply do not have the breadth of general education to understand the choke points of the supply chains they are attempting to regulate. They are unable to analyze the supply chains for manufactured goods because they simply do not understand the technologies involved. This results from a lack of even the most general knowledge of geology, chemistry, physics, metallurgy, and, sadly, manufacturing economics.

The decision makers simply don’t know what they don’t know.

The growing boondoggle called the critical minerals’ crisis is a perfect example of Washington ineptitude. The lack of understanding of the technical difficulties of mining, refining, storing, and fabricating end-user forms of metals, alloys, and the chemical compounds of specific elements are specialties that in the real world are informed by not just specialized education but mostly and most importantly by the long-term experience of trial and error.

Unfortunately for the United States, the only recognized authority on these subjects by the government is specialized education. Only credentials (or connections) seem to count in government bureaucracies. Experience, real-world (industrial) success, and the helm of profitable industrial enterprises that produce manufactured products for mass consumption seem not to count.

The financializers gained control of American manufacturing about one generation ago. In their monomaniacal quest for immediate profit as the sole metric of interest, they failed to notice that American productivity had peaked by the 1970s and was in decline. They also failed to notice the ending of the post-World War II American-dominated globalization, and they thought that the exorbitant privilege of the American dollar in world trade was a permanent fixture of the world economy. They did not see that the use of the printing press by the United States government to rescue the world from the financial catastrophe of 2008, which they themselves had caused by their reckless financialization, along with their transfer of American know-how and industrialization to China to maximize profits gave an advantage to China which no amount of self-Serving Financialization could change.

The financializers believed that a tame China could be granted entry to the World Trade Organization and would obey the dictates of Wall Street. China crafted an industrial policy with a target of creating the world’s premier industrialized nation. To implement this policy they began with low-cost, low-technology manufacturing while they gathered up the financial and physical resources to make them independent of the rest of the world.

Now we are supposed to believe that these same financializers are going to rescue us from our declining importance in the industrialized world by continuing to emphasize profit and their personal success.

The post-World War II era of globalization is over. The United States cannot command the world’s natural resources to flow to the United States simply because of the dollar’s importance in international trade.

The global South is waking up. It no longer wishes to be merely a purveyor of natural resources in exchange for dollars or renminbi.

But even though China is facing a revolt from the same third-world countries upon which it lavished enormous amounts of capital to acquire access to the natural resources of those countries, the United States is in no position to benefit from this revolt against Chinese control, because we now lack the human resources to take advantage of potential access to the resources we need. The United States is one generation behind China in developing human resources for the re-industrialization of the United States.

I only see enormous amounts of dollars being thrown at inexperienced ventures that are supposedly going to re-establish American dominance in high-technology sectors based on critical mineral resources. I see no sound coming from the American educational establishment, indicating that it will refocus its efforts on training students in STEM rather than social areas. Until that change occurs, the United States will not be able to re-establish itself as the world’s leading manufacturing nation, particularly in high technology.

I think that the lack of understanding of this problem is the biggest problem facing the United States today.

Volta Metals Ltd. (CSE: VLTA | FSE: D0W) is a critical mineral exploration company focused on rare earths, gallium, lithium, cesium, and tantalum, with projects in Ontario, Canada. On February 23, 2026, the Company reported a major resource expansion at its Springer Rare Earth Element deposit near Sturgeon Falls, approximately one hour east of Sudbury, Ontario along the Trans-Canada Highway.

“It’s very exciting. It exceeded our expectations, to be honest,” Kerem Usenmez, President, CEO, and Director of Volta Metals Ltd., said in an interview with InvestorNews host Tracy Hughes.

“What’s exciting also is that it’s still open and we are drilling. We’re hitting more. So, I think it’s going to get even bigger, but we’re already in the Top 10 and getting better and better every day.”

Hughes asked what “Top 10” meant in practical terms. “Basically, if I understand properly, is the Springer project in the ‘Top 10 Rare Earth Deposits in North America’? Is that correct?”

“That is correct, yes,” Usenmez replied. “It got into a new scale. It really is incredible — 176 million tonnes of rare earth mineralization, on surface. It’s very, very exciting.”

The updated Mineral Resource Estimate, effective December 31, 2025, reports 56.6 million tonnes in the Indicated category at 0.70% TREO and 119.5 million tonnes in the Inferred category at 0.58% TREO. According to the Company, the deposit now ranks among the top 10 largest rare earth deposits in North America based on publicly available Indicated and Inferred mineral resource tonnage for North American rare earth projects listed in the S&P Global Market Intelligence database, 2025.

The Company reported a 1,248% increase in Indicated Resources to 56.6Mt at 0.70% TREO, including a near-surface high-grade core of 11.5Mt at 1.10% TREO, and an 841% expansion in Inferred Resources to 119.5Mt at 0.58% TREO, including a near-surface high-grade core of 3Mt at 1.16% TREO. Additional contained rare earth oxides were added at an estimated discovery cost of C$0.02 per tonne of Indicated Resource.

Hughes noted that the project ranks number seven and pointed to infrastructure as a key advantage. Usenmez agreed. “Fifty minutes away from Sudbury through the Trans-Canada Highway. We’re just outside of Sturgeon Falls. Have two hydro power dams literally just outside of our claims, and one of them is powered by First Nations.

“So this project will be powered not only with staff but literally the power because the power lines go through the property. We have all the supplies we need within 68 km, including Trans-Canada Highway and railway station.”

According to the Company’s disclosure, the deposit is approximately 70 km east of Sudbury and 15 km north of Sturgeon Falls. It is accessible via Highway 64, with proximity to the Crystal Falls and Sturgeon Falls hydroelectric dams, hydroelectric power lines, a natural gas pipeline, and the Canadian National Railway line. A high-voltage transmission line runs through the project’s claims and is expected to source power from the Crystal Falls hydroelectric dam.

On drilling results, Usenmez said, “Our initial drilling came back with — well, we first drilled twice as much as we anticipated, or planned for, because we were still in mineralization. It kept going, etc. So having holes, not once, more than once, from top to bottom mineralized, and at the end still high-grade mineralization — that’s really what else can you hope for?

“So that helped, and that showed us the shape is changing. It’s getting bigger and it is still open. That’s why we are drilling right now. But the intercepts we have are exceptional — rare earth mineralization, very high grade. In some cases, the premium magnets that you want — magnet minerals — but also the gallium. So very, very good results.”

Hughes referenced the “core four” rare earth elements — praseodymium, neodymium, dysprosium and terbium — and asked about their significance.

“This mineral resource is based on those four — big four — I call them big four being the only ones that are payable,” Usenmez said. “We have other light and heavies, but yes, those are the ones that the Western world needs the most for our modern world — for technology, for AI, as well as defense applications — which we don’t have. So we need to find more of those to support the critical supply chain that is domestic in North America. So having those four — two light, two heavy — that are most valuable in this one project is incredible to me.”

He also addressed gallium. “China controls 98% of the processing of gallium. You can’t take it out of China. U.S. has zero production of gallium. Gallium goes not only everywhere — but AI, so the semiconductors. As we all know, how important it is to have the control for this critical supply chain.

“Gallium nitride chips — the semiconductors — are way more efficient and faster than silicon chips alone, so that is making it very strategic. The price of gallium, obviously, is through the roof and I think it’s going to remain there for a long time. Obviously it’s a smaller market. So having that kind of grades, that kind of thicknesses that Springer has is definitely going to give a strong advantage to this project.

“And having it from surface down to the depths we’re looking at for the rare earth, it seems to correlate — where the high-grade, those big four are — along with the gallium. So gallium is going to add — probably our estimation is between 25 to 35% value — to this project alone.”

A fully funded 6,000-metre Phase-2 drill program is underway, and the current Mineral Resource Estimate does not include historical or recent high-grade gallium assay results from the Fall 2025 drill program.

Usenmez said he would be attending PDAC. “I’m looking forward to seeing you, our shareholders — existing and potential new ones. I think this is one of the good stories for this year’s PDAC, I’m hoping. So yeah, it’s a very exciting time. I’m going to have the high-grade core from Springer as well as our technical team going to be on site. So I would like to see everyone that is interested to come and visit us. Our booth number is 2728.”

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Zimbabwe on Wednesday announced an immediate and indefinite ban on the export of all critical minerals — including shipments “in transit” — as the government said it would evaluate the status of the sector.

The directive applies across a mining sector that underpins a significant portion of Zimbabwe’s export earnings. By including material already in transit, the order signals that the restriction is comprehensive and immediate.

Zimbabwe is one of Africa’s most mineral-rich jurisdictions. It is widely recognized for its platinum group metals (PGMs), hosted along the 550-kilometre Great Dyke geological formation. The country holds the world’s second-largest known platinum reserves after South Africa. Operating mines such as Unki and Mimosa produce platinum, palladium and rhodium — metals essential to catalytic converters, hydrogen technologies and electronics.

The country is also a major chrome (chromium) producer. Zimbabwe’s Great Dyke hosts some of the highest-grade chromite deposits globally. Chrome is critical for stainless steel production and high-temperature alloys. Ferrochrome smelting operations have historically supplied Asian markets, particularly China.

In recent years, Zimbabwe has become a significant African lithium supplier. The Bikita mine, one of the world’s oldest lithium operations, produces spodumene concentrate used in lithium-ion batteries. The Arcadia project, developed near Harare, has further positioned Zimbabwe as a growing participant in global battery supply chains. Lithium exports have risen sharply amid electric vehicle demand growth.

Zimbabwe also produces nickel, primarily from operations such as Bindura. Nickel is used in stainless steel and increasingly in battery chemistries including nickel-manganese-cobalt (NMC) cathodes.

Gold remains a major export commodity, although not typically classified as a “critical mineral” in Western government lists. Coal and iron ore also contribute to domestic industrial supply.

Emerging sectors include rare earth elements (REEs) and cesium-bearing pegmatites. The historic Kamativi mine has drawn renewed attention for lithium and associated minerals, including potential cesium occurrences within lithium-cesium-tantalum (LCT) pegmatites. While Zimbabwe is not currently a commercial cesium producer, geological potential exists.

By halting exports across all critical minerals — without exemptions and without a defined duration — the government’s decision directly affects producers, processors, traders, and international buyers reliant on Zimbabwean supply. The inclusion of goods already “in transit” introduces immediate contractual and logistical implications.

Zimbabwe has previously articulated policy objectives aimed at increasing domestic beneficiation and local value addition rather than exporting raw materials. The current freeze extends across commodities and suggests a broader sector review rather than a single-metal intervention. With lithium, PGMs and chrome forming the backbone of Zimbabwe’s mineral exports, the practical consequences of an indefinite suspension will depend on both duration and enforcement clarity. Until further guidance is issued, regional and global supply chains incorporating Zimbabwean output face a period of uncertainty.

“Drill hole number 15: we hit from surface 300 m, 2.55% rare earths,” Tom Drivas said, describing what he called “very exciting results” from diamond drilling at the Ultra Hard Rock carbonatite target in Goiás, Brazil.

Drivas, CEO and Director of Appia Rare Earths & Uranium Corp. (CSE: API | OTCQB: APAAF), said the company drilled 26 holes totaling 7,347.1 metres, with results announced from 12 of them and additional assays pending. “That’s very exciting — very unusual that you drill a hole for 300 m. The hole ended up in mineralization,” he said.

He detailed the intercepts: “The last 16 m of the hole has 5.2% total rare earth oxides. From 2 m to 99 m we get 4.42% total rare earth oxide. From 93 m to 99 m, about 6 meters, 13.30%.” The highlight interval, he added, was “about 1.7 m at around 95–97 meters depth for 14.27% total rare earth oxides.” He translated the figure for context: “That basically translates, for people who are not familiar with percentages, 142,700 ppm — parts per million — total rare earth oxides.”

Drivas also cited magnet rare earth content within the interval. “In terms of magnet rare earths like neodymium praseodymium, dysprosium and terbium, we’ve got 23,235 parts per million, which is basically 2.3%. So very exciting.”

According to the company’s February 24, 2026 news release, preliminary assay results identified significant intervals of Total Rare Earth Oxide (TREO) and Magnet Rare Earth Oxide (MREO), with 13 drill holes still pending. The release states that mineralization is open at depth and reappears to the northeast, and that average uranium and thorium values are 7.46 ppm and 66.48 ppm, respectively.

Drivas said the latest program builds on earlier drilling. “We drilled about a year, year and a half ago — we drilled three holes from zero to 150 m depth and all three holes were mineralized. Now with this drilling program, we went down to 300 meters and the system is still open.”

He described two styles of mineralization at the project. “We’ve got ionic clay on surface — like the first 10–20 meters — high-grade ionic clay type mineralization. But underneath that is carbonatite rocks — hard rock — and that’s also rich in rare earths.”

He emphasized the relevance of carbonatite-hosted rare earth deposits. “Two of the biggest mines outside of China that produce rare earths — Lynas and MP Materials — are rare earth extractable from carbonatite. So it’s basically a similar situation that we have there.”

Appia holds a 25% interest in the Ultra Hard Rock and Ultra IAC Projects, totaling 42,932.24 hectares in Goiás. Under a previously announced agreement, Ultra is obligated to acquire Appia’s 25% interest in exchange for a 25% equity interest in Ultra once a prefeasibility study has been prepared for the Ultra IAC project and a mineral resource estimate has been prepared for the Ultra Hard Rock project.

“We now drilled 29 holes,” Drivas said. “I think after this the plan would be to put a 43-101 resource on the carbonatite mineralization, and obviously we want to put a resource on the ionic clay, and also do a PFS — a pre-feasibility — on the ionic clay. Our plan is to do all this this year.”

Drilling at the ionic clay target is ongoing. “We’ve got two drills. We’re going to bring another two drills in the next couple of weeks and we’re planning to drill between now and June this year,” he said. The plan calls for approximately 952 reverse circulation holes of 15 to 20 metres each, in addition to 300 to 500 auger and exploration holes over the coming months.

“In terms of valuation, we feel that Appia is trading at a fraction — maybe 10% — of what comparable other companies in the space are trading,” Drivas said. “Appia is probably the only company that I know that has three unique rare earth projects in Saskatchewan, in Ontario, in Brazil. And in addition to that we have uranium projects in Ontario and Saskatchewan.”

Beyond Brazil, the company is advancing its Alces Lake property in Saskatchewan, where Drivas said there are “nine drill target areas that we want to test for rare earth mineralization at depth,” with a summer drill program starting in June. “We’ve got a drill in place. We’ve got the camp — everything going. We’re funded for that.”

On the uranium side, he said, “any day now, Quantec Geoscience will be starting an MT survey on our uranium property, the Otherside property. It’s a very exciting property. It has similar geophysics to major deposits in the Athabasca basin.” He added, “We know we have drill targets — we just need to refine them better with this survey.”

Appia also holds a 100% interest in 13,008 hectares in the Elliot Lake Camp, Ontario, covering five mineralized zones with rare earth elements and uranium, and surface exploration rights over 94,982.39 hectares in Saskatchewan across its Otherside, Loranger, North Wollaston and Eastside properties. With the new Brazilian results in hand, Drivas said the company will be presenting at PDAC 2026. “Yes, we do have a booth. We’re at booth 2715,” he said. “Investors are invited to come by the booth so we can discuss it more and ask questions. Obviously we can show them some pictures, some maps, to see exactly where we are and what we’re doing.”

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There are rare earth projects, and then there are carbonatites.

That distinction matters.

Earlier this morning, Appia Rare Earths & Uranium Corp. (CSE: API | OTCQB: APAAF | FWB: A0I0) reported diamond drilling results from the Ultra Hard Rock target in Goiás, Brazil — a carbonatite-hosted system where 13 holes returned long, continuous intervals of Total Rare Earth Oxide (TREO) beginning at surface. One headline intercept: 300 metres grading 2.55% TREO, including 1.7 metres at 14.27% TREO.

For seasoned rare earth investors, the more important word in that sentence is not “14.27%.”

It is “carbonatite.”

Why Carbonatites Matter

Carbonatites are unusual igneous intrusions composed predominantly of carbonate minerals. In the rare earth world, they are significant because they host many of the largest and most economically viable rare earth deposits ever developed.

Unlike many sedimentary or lateritic systems, carbonatites are primary magmatic sources of rare earth elements (REEs). They are the plumbing systems through which the Earth concentrates and upgrades these elements in the first place. When mineralization is hosted within a carbonatite body, investors are not looking at secondary dispersion — they are looking at source.

That distinction affects scale, grade continuity, metallurgy, and ultimately, mine design.

In Goiás, drilling at the Ultra Hard Rock target intersected up to 300 metres of carbonatitic intrusion, with TREO grades beginning at surface. Hole UNA-DDH-015 returned:

• 300 m at 2.55% TREO
• 97 m at 4.52% TREO
• 6 m at 13.30% TREO
• 1.7 m at 14.27% TREO

These are not narrow vein hits. They are broad, continuous intercepts consistent with a substantial intrusive body.

Carbonatite-hosted systems often exhibit predictable geometry. Once the body is outlined, expansion drilling can delineate volume rather than chase isolated lenses. Appia reports that mineralization remains open at depth and reappears to the northeast, suggesting additional expansion potential.

Magnet Rare Earths: The Strategic Subset

The release also highlights Magnet Rare Earth Oxides (MREO) — defined here as neodymium (Nd), praseodymium (Pr), terbium (Tb), and dysprosium (Dy). These are the elements that underpin permanent magnet supply chains used in electric vehicles, wind turbines, robotics, and defense applications.

MREO/TREO ratios in the reported holes range roughly between 14% and 20%. That proportion is not incidental. It provides early insight into potential revenue weighting, since magnet rare earths command structurally higher value than light rare earths like lanthanum and cerium.

Equally notable: uranium and thorium averages are reported at 7.46 ppm and 66.48 ppm, respectively — comparatively low levels that may reduce permitting and processing complications, depending on final metallurgical flowsheets.

Hard Rock vs. Ionic Clay

The Goiás property hosts two mineralization styles: the hard rock carbonatite and an ionic adsorption clay (IAC) system associated with weathered granite. While ionic clays have drawn attention globally for their ease of leaching, carbonatites represent the foundational source from which many of these weathered systems derive.

From a geological standpoint, owning exposure to the primary intrusive source adds a different layer of leverage. Carbonatites can support long-life operations if tonnage proves sufficient, and they often host multiple rare earth-bearing minerals within the same system.

Appia holds a 25% interest in the Ultra Hard Rock and Ultra IAC projects, covering 42,932 hectares in Goiás. Under the earn-in structure, Ultra Rare Earth Inc. is obligated to exchange Appia’s project interest for a 25% equity stake in Ultra upon completion of key technical milestones — namely, a prefeasibility study on the IAC project and a mineral resource estimate on the Hard Rock target.

In practical terms, the current drilling is not just exploration. It is value-definition toward a resource.

The Structural Advantage

Rare earth investing is often framed around grade headlines. But grade alone does not determine viability.

Geometry matters. Continuity matters. Metallurgy matters. Source geology matters.

Carbonatites offer structural advantages because they are coherent intrusive systems. When drilling outlines 300-metre intervals from surface, it speaks to volume potential and simplified open-pit scenarios, assuming economic parameters hold.

The reported assays were processed through ALS laboratories using lithium borate fusion and ICP-MS analysis, with internal QA/QC protocols including blanks, duplicates, and certified reference materials. Thirteen additional drill holes remain pending.

For now, the most significant takeaway is not the 1.7 metres at 14.27% TREO — although that interval will command attention.

It is that the mineralization sits within a defined carbonatite body, delineated to depth, open laterally, and showing continuity across multiple holes.

In rare earth geology, source matters.

And carbonatite is source.

InvestorNews.com is pleased to announce an upcoming InvestorTalk scheduled for tomorrow, Wednesday, February 25, 2026, at 9:00 AM EST, featuring Kerem Usenmez, President, CEO, and Director from Volta Metals Ltd. (CSE: VLTA). To participate in this engaging discussion, please email [email protected] to RSVP.

Volta Metals is a critical mineral exploration company focused on rare earths, gallium, lithium, cesium, and tantalum. It owns, has optioned and is currently exploring a critical minerals portfolio of rare earths, gallium, lithium, cesium, and tantalum projects in Ontario, one of the world’s most prolific and emerging hard-rock critical mineral districts.

In preparation for tomorrow’s InvestorTalk, here are some recent news releases from Volta Metals for your review, which are listed below:

• February 23, 2026 – Volta Reports Major Resource Expansion at Springer REE Deposit, Demonstrating Substantial Growth in Both Indicated & Inferred Categories — click here
• February 17, 2026 – Volta Initiates Gallium Recovery Study with Laurentian University, Sudbury, Canada – click here
• February 11, 2026 – Volta Reports Additional High-Grade Gallium Mineralization at Springer REE Project – click here

We found the February 23^rd news release titled, “Volta Reports Major Resource Expansion at Springer REE Deposit, Demonstrating Substantial Growth in Both Indicated & Inferred Categories” particularly noteworthy and here are 5 key data points from it:

• Major Resource Expansion – Volta Metals Ltd. significantly expanded the Mineral Resource Estimate at the Springer Rare Earth Project to 176.1 Mt total, including 56.6 Mt Indicated at 0.70% TREO and 119.5 Mt Inferred at 0.58% TREO.
• Rapid Growth in Resource Categories – The update represents a 1,248% increase in Indicated resources and an 841% increase in Inferred resources, highlighting strong deposit growth through recent drilling.
• Near-Surface High-Grade Core Identified – The resource includes higher-grade zones near surface, with 11.5 Mt at 1.10% TREO (Indicated) and 3 Mt at 1.16% TREO (Inferred), supporting potential open-pit development.
• Top-Tier North American REE Asset – Springer now ranks among the top 10 largest rare earth deposits in North America, with mineralization remaining open in all directions and multiple expansion opportunities identified.
• Ongoing Growth and Upside Catalysts – A fully funded 6,000 m drill program is underway, updated metallurgy is in progress, and recent high-grade gallium results are not yet included in the resource, offering additional upside potential.

(02.24.2026 at 8:00 AM EST, Source)

For more information on Volta Metals Ltd., click here

For more information on the InvestorTalk pre-market series, go to InvestorTalk.com.

In an InvestorNews interview, Christopher Berlet, President, CEO and Director of Stakeholder Gold Corp. (TSXV: SRC | OTCQB: SKHRF), outlined the company’s land position, exploration plans, and financing strategy in Yukon and Brazil.

Stakeholder’s origins trace back to staking in 2006 in the White Gold District of Yukon. The company holds 100% ownership of 930 contiguous mineral claims covering 19,440 hectares and spanning 17 kilometers of the proposed Northern Gateway Road route through the center of the district. It also maintains 10 claims located within the adjacent Coffee Mine Project being developed by Fuerte Metals Corp. (TSXV: FMT). These combined claim holdings are referred to as the Ballarat Gold-Copper Project.

“We look at three companies around us in the Yukon,” Mr. Berlet said, naming Fuerte Metals Corp. (TSXV: FMT), Western Copper and Gold Corp. (TSX: WRN), and White Gold Corp. (TSXV: WGO). “The White Gold District has major economic gold and copper deposits discovered, now being advanced toward production. We’re in the center of it.”

Within its land package, Stakeholder is advancing the Skye Gold Zone and the Loki Copper Zone, separated by approximately eight kilometers. “We’re drilling two separate — almost maybe even connected — gold deposits that are orthogneissic rock-type gold molybdenum indicator minerals,” he said. He added that the company is “drilling a copper target called the Loki, similar to the Minto suite of rocks that was the Minto mine.”

The company has completed more than 5,000 rock samples, RAB drilling, and VLF surveys and is preparing a maiden diamond drill program.

The proposed Northern Gateway Road route crosses approximately 20 kilometers of the company’s claims. “It’s going 20 kilometers through our ground,” Mr. Berlet said, adding that the company expanded its claims to cover drainage into Ballarat Creek, described as “a very prolific placer gold producer,” and to position claims along the road corridor.

On January 20, 2026, Stakeholder announced that it had received approval for its Class 1 Exploration Notification from the Yukon Government, Dawson Mining District, authorizing exploration and drilling on the Ballarat Gold-Copper Project, subject to standard operating conditions and environmental best practices.

Regarding First Nations engagement, Mr. Berlet said, “Tr’ondëk Hwëch’in First Nations, Selkirk First Nations [are] relevant for this project,” and that the company is conducting exploration in compliance with applicable requirements.

Seasonal conditions limit field activity. “There’s about eight months of the year when you’re able to do that kind of work there,” he said, noting that winter temperatures reached minus 50.

Stakeholder also operates a Brazilian subsidiary, Mineração VMC Ltda., producing and exporting quartzite building stone. “We’re running four quarries now, going to be a fifth quarry this year,” Mr. Berlet said. He added, “We think we can get to ten quarries making about a million dollars profit per year per quarry.”

“Our stone business should generate significant cash flow from June this year,” he said. “Yukon exploration will be financed either from Brazil cash flow or market interest after discovery confirmation.” He added that the objective is to “raise money only if required at the best share price and control issuance.”

The company recently listed on the OTCQB and is DTC eligible. “We’re OTCQB listed SKHRF and DTC eligible,” Mr. Berlet said, adding that the listing provides a platform for potential gold and copper discovery interest.

To access the complete interview, click here

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In a sector more accustomed to drill results than drug pipelines, Voyageur Pharmaceuticals Ltd. (TSXV: VM) has taken a notable step into the strategic healthcare supply chain.

The Calgary-based developer of pharmaceutical-grade barium and iodine announced earlier today that it has signed a collaboration and milestone-based funding agreement with Bayer, the global pharmaceutical and life sciences major. The agreement provides for up to US$2.35 million in staged funding to advance an iodine production project in Oklahoma, tied to a feasibility study and potential future offtake.

For a junior company still in pre-production, the significance is not the dollar amount. It is the counterparty.

Milestones Before Molecules

The funding structure is deliberate and conditional:

• US$350,000 upon signing
• US$1,000,000 upon commencement of a feasibility study
• US$1,000,000 upon completion of that study

In exchange, Bayer receives exclusivity to negotiate an offtake agreement for iodine production resulting from the project. Importantly, all intellectual property remains with Voyageur.

The agreement expires upon one of three triggers: if the feasibility study is not commenced, if a definitive offtake is signed, or if exclusivity lapses.

This is not a production contract. It is not even an offtake. It is a structured evaluation framework — one that shifts early-stage technical and economic validation into a collaborative lane with a global buyer of contrast media inputs.

For investors accustomed to binary biotech events or speculative resource exploration, the model is familiar: advance the asset through feasibility with strategic support, preserve equity, and retain optionality.

The Strategic Context: Imaging Is Infrastructure

Contrast media drugs — particularly iodinated agents used in CT scans and angiography — are foundational to modern healthcare. Supply disruptions in recent years have underscored how concentrated and fragile that market can be.

The global contrast media market was valued at approximately US$6.77 billion in 2024 and is projected to reach US$13.86 billion by 2033, implying an 8.3% compound annual growth rate. North America accounts for roughly 39% of global iodine contrast demand.

Voyageur’s thesis is straightforward but ambitious: vertically integrate the supply of two critical inputs — barium sulphate and iodine — and become a domestic North American producer of radiology contrast media drugs.

Today, pharmaceutical-grade barium sulphate is largely synthetically produced. Voyageur controls the Frances Creek barite project in British Columbia, which it argues contains rare high-grade minerals suitable for direct pharmaceutical application.

On iodine, the company is targeting production from the Anadarko Basin in Oklahoma, where it intends to build an extraction facility, subject to feasibility.

If successful, the model would position Voyageur not as a miner, and not merely as a drug marketer, but as a vertically integrated API supplier — controlling raw material inputs and potentially final drug manufacturing.

A Two-Track Development Strategy

Voyageur is advancing two feasibility studies in parallel:

1. The Bayer iodine project, funded through milestone payments.
2. Voyageur’s broader radiology drug production project, funded internally.

Initial lab bench testing for the Bayer project has been completed. The next step involves building a small transportable field unit to generate data for the feasibility study, expected later this year.

Should the study prove positive, a second phase could include offtake-linked production financing from Bayer, with Voyageur operating and managing the facility.

For a company of Voyageur’s size, the phrase “non-dilutive financing” carries weight. Access to project capital tied to commercial offtake — rather than equity issuance — is often the inflection point between concept and construction.

From the Earth to the Bottle

Voyageur’s branding — “From the Earth to the Bottle” — reflects a narrative increasingly resonant in both critical minerals and healthcare: supply chain sovereignty.

While the company trades on the TSX Venture Exchange, its positioning aligns with broader North American industrial policy trends: domestic sourcing, secure pharmaceutical inputs, and reduced reliance on offshore intermediates.

Brent Willis, CEO and President of Voyageur, framed the collaboration as a step toward becoming the first domestic U.S. producer of iodine contrast media drugs and, ultimately, a vertically integrated manufacturer of both barium and iodine contrast agents.

The feasibility study will determine whether that vision is technically and economically viable.

What We are Watching

For all of us watching the focus should remain on execution rather than narrative. The next meaningful inflection point will be the commencement and completion of the iodine feasibility study, followed by technical validation of extraction economics at the Oklahoma project. Progress on establishing a viable pharmaceutical-grade barium manufacturing pathway will also be critical, as will any movement toward a definitive offtake agreement with Bayer. Equally important is the structure and terms of potential project financing, which will ultimately determine capital efficiency and shareholder impact.

At this stage, the agreement represents strategic validation rather than booked revenue. That distinction matters. In tightly regulated pharmaceutical supply chains, partnerships with multinational buyers are not extended casually; they follow structured technical and commercial due diligence.

Voyageur remains a development-stage company. However, by aligning with a global contrast media leader and linking advancement to feasibility-driven funding milestones, it has shifted from conceptual positioning toward institutional engagement.

In a healthcare system increasingly attuned to supply chain resilience, demand for contrast media is not in question.

The open question is who will control the upstream inputs that make those molecules possible.