FireFly Metals (ASX/TSX: FFM) ended the September quarter with a Preliminary Economic Assessment (PEA) for its Green Bay copper-gold project in Canada and about A$349.7 million in cash and liquid investments. During the quarter it raised about A$185 million through an institutional placement and a Share Purchase Plan. The PEA's 1.8 million tonnes per annum base case shows an after-tax NPV of A$2.2 billion and a 41% IRR, while the 4.6 Mtpa scenario shows an A$3 billion NPV and a 39% IRR. The Mineral Resource rose to 60.2 million tonnes at 2.4% copper equivalent in Measured and Indicated categories, plus 23.5 million tonnes at 2.5% in Inferred. FireFly expects to release a maiden Ore Reserve and DFS in Q1 2027, with a targeted Final Investment Decision in mid-2027.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
goldminingcommoditiesvaluation
Open a keyword to see other news on the same topic.
Related tickers and likely impact
XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/28/2026 | 4,067.54 |
| Change that session | +0.18% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Largo Reports Q3 2026 Production and Sales Results Reflecting Vanadium Diversification with First Production of Copper, Gold and Platinum Group Metals; Advances Commercial Bank Debt Restructuring
Largo reported Q3 2026 V₂O₅ production of 2,093 tonnes, down from 2,636 tonnes a year earlier as it reduced inventories and focused on higher-margin products, while sales held steady at 2,428 tonnes. Year-to-date production of 7,609 tonnes was up 23%. The company recorded its first production of copper (108 tonnes), gold (289 ounces), platinum (166 ounces) and palladium (291 ounces) as by-products of its vanadium operations. Largo maintained its V₂O₅ sales guidance of 7,500–9,500 MT but lowered production guidance to 9,500–10,500 MT from 10,500–12,000 MT. It also executed a restructuring agreement with Banco Santander (Brasil), bringing agreements to cover approximately 58.4% of its commercial bank senior debt.
- Small Cap watch: Nova Minerals clears antimony permits and gold explorers gear up
Nova Minerals (ASX:NVA, NYSE-A:NVA) received final Alaska Department of Natural Resources approvals for its antimony project, targeting production in 2027, with Phase 1 fully funded by its US$43.4 million Department of War award. Novo Resources (TSX:NVO, ASX:NVO) has secured the approvals to begin an approximately 2,700-metre reverse circulation drilling program at its Tibooburra Gold Project in New South Wales, starting in November. Janus Electric (ASX:JNS) secured a strategic equity investment of about A$2 million from Electrovaya, which builds on an existing battery supply agreement. Pilbara Gold (ASX:PGL) reported drilling showing mineralised banded iron formation continues below its current resource at Mt York. archTIS (ASX:AR9) extended A$4 million of its A$8 million Commonwealth Bank facilities to April 30, 2027, from October 30, 2026.
- FCX Q3 Earnings Beat Estimates on Strong Copper Pricing
Freeport-McMoRan (FCX) reported third-quarter 2026 adjusted earnings of 88 cents per share, up 76% from 50 cents a year earlier and 10% above the Zacks Consensus Estimate of 80 cents. Revenue rose 8.2% year over year to $7.55 billion, 6.5% above the Zacks Consensus Estimate of $7.09 billion. Higher realized copper and molybdenum prices supported results despite lower copper and gold sales volumes, with copper sales down 23.3% to 749 million pounds, mainly due to lower operating rates at PT Freeport Indonesia (PTFI) during the ramp-up of the Grasberg Block Cave mine. For 2026, the company projects sales of roughly 3 billion pounds of copper, 649,000 ounces of gold and 93 million pounds of molybdenum.
- Empire Metals, Central Asian Metals, Atlantic Lithium, S&U, Pantheon International
Empire Metals will start pilot-scale testing at its Pitfield titanium project in Western Australia within weeks, working toward a scoping study in the first quarter of 2027. Central Asia Metals completed its all-share acquisition of Cygnus Metals, adding the Chibougamau copper-gold project in Québec to its portfolio. Atlantic Lithium has set its first court hearing for November 5 on Huayou's proposed $210 million takeover, which has now secured Australian foreign investment approval. S&U has secured two new securitisation facilities worth up to £600 million. Pantheon International said its net asset value per share rose 2.2% in September to 546.3p and that it spent £36.1 million on share buybacks.
- UAMY Stock Rises Overnight As United States Antimony Sees $314M Worth Gold-Antimony Prospects In Alaska
United States Antimony (UAMY) shares rose more than 2% overnight after a new technical assessment valued the measured and indicated resources at its Nolan Creek gold-antimony property in Alaska at over $314 million, with inferred resources worth over $125 million. The estimates use gold at $4,000 per ounce and antimony at $8.30 per pound; within the measured and indicated category, antimony accounts for $233.9 million and gold for $79.9 million. The company bought the Bureau of Land Management claims at a public trustee sale on Jan. 30 and is extracting an exploratory bulk sample of about 1,000 tons underground, with possible production in 2027. CEO Gary C. Evans said the ore will be moved to the company's Radersburg, Montana, flotation mill ahead of sales in November and December. On Stocktwits, retail sentiment stayed bearish, and the stock is down 43% year to date.
- FireFly makes another significant high-grade copper-gold VMS discovery
FireFly Metals (ASX, TSX: FFM) reported a new copper-gold VMS system at the Mount Joy prospect within its Green Bay project in Newfoundland, Canada, near the historic Tilt Cove district. Hole FFR26-071 intersected 22.5m at 2.5% CuEq from 109m, including 9.0m at 3.9% CuEq, while follow-up hole FFR26-076 hit about 40m of semi-massive sulphides, with assays pending. Mount Joy lies about 35km from the Ming Mine and 2.6km from the Nugget Pond mill, which is on care and maintenance. The company plans an updated Mineral Resource Estimate and Feasibility Study next quarter, ahead of a Final Investment Decision expected in mid-2027, and had about A$368 million in cash and liquid investments as at 31 July 2026 (unaudited).
Related markets
Latest news
- Alphabet stock crash leaves this trading metric at a level not seen in more than a decade
Alphabet (GOOGL) shares fell 12.6% on Thursday after its earnings report, wiping out nearly $500 billion in market value, and dropped another 1% in premarket trading on Friday. Yahoo Finance AlphaSpace data shows its price-to-earnings (P/E) ratio is at a level not seen since 2012. Search sales of $63.4 billion came in below the $64.9 billion expected, fueling fears that rivals such as Claude and ChatGPT are eroding Google's search business. Negative free cash flow of $9.1 billion also missed the Wall Street estimate of negative $3.5 billion. After the report, 13 Wall Street analysts cut their price targets on Alphabet.
- Why Beijing could block the SpaceX-Tesla merger
Bank of America says China is the main regulatory risk to a potential Tesla–SpaceX combination, since Tesla's Shanghai plant, which builds about half its global output, would fall under a major U.S. defense contractor. Although special committees have been formed and terms are not agreed, BofA views a deal as incremental upside for Tesla shareholders; a logical structure would be an all-stock acquisition of Tesla by SpaceX, and a 20% to 30% premium would still leave Musk with over 50% of voting power. The strategic case centers on Terafab, the companies' joint chip effort, whose long-term costs Musk expects to exceed $100 billion, and SpaceX has bought $626 million of Tesla Megapacks so far this year. BofA maintained its Buy rating and $460 price target on Tesla, expecting robotaxis to become a meaningful earnings driver by the end of 2027.
- Anthropic's $224 Billion Cloud Bill Reveals the Real Winner of the AI Boom
Anthropic plans to go public within weeks under the proposed ticker ANT, with a valuation expected at about $2 trillion, according to its S-1 filing. Revenue grew from $41 million in 2023 to $4.6 billion in 2025 and reached $16.3 billion in the first six months of this year. Lacking its own computing infrastructure, Anthropic rents capacity from Amazon and Alphabet, with about $224 billion in cloud spending planned over the next decade, excluding $125 billion to $150 billion in future payments for Alphabet's TPU chips between 2028 and 2031. The article argues that Amazon and Alphabet also profit from customers who deploy Claude through AWS and Google Cloud, earning from both ends.
- Alphabet is Even Further Misunderstood Following Earnings and I’m Loading Up
Alphabet shares fell 12.64% to $283.82 after an earnings report that showed GAAP EPS of $2.12 against a $2.97 estimate, which the author attributes to an $8.70 billion loss on equity securities. The author argues the core businesses grew: operating income rose 29.93% to $40.58 billion and revenue climbed 24.6% to $127.58 billion. Google Cloud revenue grew 103% to $30.71 billion, while Search and other revenue rose 12% to $63.35 billion. Capital expenditures rose 114.4% to $51.36 billion, pushing free cash flow to negative $9.07 billion, and Alphabet issued $28.7 billion in senior notes, which the author names as the main risk. The author says he added to his Alphabet position after the sell-off.
- Meta’s AI raid triggers monopoly abuse investigation
The UK’s Competition and Markets Authority (CMA) will investigate whether Meta is abusing its dominant position by imposing “exploitative” terms on publishers and advertisers. The new terms would let Meta deploy bots to scrape any website linked to a business account on Facebook, Instagram, Messenger or WhatsApp, and businesses that refuse must stop using the platforms for commercial purposes. Meta originally planned to introduce the rules on Friday, delayed them until Nov 20, and has now paused the rollout pending consultation with industry groups. The CMA is concerned the terms could be an “unlawful imposition of unfair trading conditions” affecting thousands of UK businesses, and it can block them and impose fines if competition law is broken. The News Media Association urged ministers to back the regulator, noting that local publishers would be hit hardest because up to a third of their audience comes from Facebook.
- Midterms and Your Retirement: What's Really at Stake?
American Independence Gold, a veteran-owned precious-metals company, urges retirees and those nearing retirement to review their savings before the midterm elections and to assess whether gold and silver serve a clear purpose in their plan. It cites an October 22, 2026 World Gold Council report saying U.S. election results have had no consistent effect on gold prices, while later policies and global demand can matter more. CNBC reports China imported more than 1,000 tonnes of gold in the first eight months of 2026, versus 886 tonnes in all of 2025, and its central bank has bought gold for 23 consecutive months. The article suggests reviewing which assets could lose value and how expenses would be covered, avoiding concentrating retirement savings in one asset, and notes that higher U.S. yields can weigh on gold and tax benefits do not eliminate investment risk.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.