Dianke Lantian officially listed on the Shanghai Stock Exchange's STAR Market, with its stock price surging 750.05% at opening and closing at 65.94 yuan per share (up 596.3%), reaching a total market capitalization of 114.5 billion yuan.

Nasdaq is considering introducing a "fast entry" rule to accelerate the inclusion of newly listed large companies. The proposed amendment would allow newly listed firms to join the Nasdaq-100 Index after just 15 trading days, significantly shorter than the current waiting period of at least three months. This move aims to make the index more reflective of the market in a timely manner. In the current environment, enterprises often delay their listings for years, and once they enter the public market, they release substantial market capitalization. Companies expected to go public this year include SpaceX, which could reach a potential valuation of $1.3 trillion, making it one of the largest companies by market value in the Nasdaq-100 Index. The "fast entry" rule is part of an industry consultation proposal, with discussions expected to conclude later this month. If approved by the Nasdaq Index Committee after the consultation period, the adjustment will take effect following the quarterly rebalancing in March.

According to a report by Bloomberg on Mining.com, the US Department of Defense (DoD) invested $18 million in Canada's 5N Plus Inc. to help the company expand its germanium metal refining capacity. Germanium is used in night vision systems and other application fields. Mike Cadenazzi, a Pentagon official, stated in an announcement regarding the deal, "Our warfighters rely on next-generation optical technologies for surveillance, reconnaissance, and targeting, and germanium is a critical material for manufacturing these devices." The US has been seeking secure supplies of critical minerals to reduce risks and external dependencies. Since 2024, the US has invested over $60 million in Canadian small and medium-sized enterprises producing these materials, including Nano One Materials Corp, which produces LFP battery cathode materials, and other enterprises producing graphite and tungsten. Since 2020, the DoD has been collaborating with the company to improve semiconductor production processes needed for space programs and to produce germanium wafers for solar cells used in defense and commercial satellites. Over the past three years, the stock price of Montreal-based 5N Plus has increased by more than 650%. In November last year, management discussed several demand trends with analysts, including accelerated developments in solar energy and artificial intelligence, which are expected to drive demand growth this year. The company, which began supplying materials for medical imaging in 2000, currently has a market capitalization exceeding C$2 billion ($1.5 billion). 5N Plus sources its germanium from Canada's Teck Resources Ltd., Europe's Umicore SA and Nyrstar NV, as well as scrap recyclers in the US. These materials are used to produce germanium wafers at the company's facility in St. George, Utah. "This funding will enable 5N Plus to significantly increase its germanium metal refining capacity and support its plan to procure germanium from underutilized and previously untapped domestic sources," said Gervais Jacques, the company's CEO. In September last year, Jacques revealed to Montreal's La Presse that the company plans to make a medium-sized acquisition in the US, followed by a smaller acquisition, to expand its manufacturing capacity.

【SMM Flash Update】 Shenzhen-listed GEM Co., Ltd. (002340.SH) announced that its board has approved the issuance of H-shares and a main board listing on the Hong Kong Stock Exchange, appointing Grant Thornton Hong Kong as auditor. Founded in 2001, GEM is a leading player in waste recycling and new energy materials, with operations spanning spent battery and e-waste recycling, re-manufacturing of nickel, cobalt, lithium, tungsten and precious metals, as well as production of ternary precursors and cathode materials for EV batteries. Already listed in Shenzhen and Zurich, GEM’s market capitalization stood at about RMB 35.46 billion as of Aug 25, 2025.

As reminded by a Caixin article on Tuesday evening, overnight and into the morning, overseas markets have been busy reassessing the prospects of the Middle East conflict, with the three major US stock indices collectively under pressure and declining. As of Tuesday's close, the S&P 500 fell 0.84% to 5,982.72 points; the Nasdaq Composite Index fell 0.91% to 19,521.09 points; and the Dow Jones Industrial Average fell 0.7% to 42,215.8 points. As a bellwether for the Middle East conflict, international oil prices surged again. (Daily chart of Brent crude oil, source: TradingView) According to CCTV News, as the military conflict between Israel and Iran continues, the market's focus has shifted to whether the US military will intervene. According to reports, US President Trump met with his national security team in the White House Situation Room on Tuesday to weigh whether to further intervene in the ongoing conflict between Israel and Iran. US Treasury bond prices also rose simultaneously, though this was also related to weak US retail, housing, and industrial output data. Later on Wednesday (early Thursday Beijing time), the US Fed will announce its latest interest rate decision and hold a press conference. The market generally expects that before a series of uncertainties that could trigger inflation are resolved, Fed officials will have no room to cut interest rates. Meanwhile, Andrew Tyler, head of global market intelligence at JPMorgan Chase, who successfully predicted the April rebound, said this week that despite the success of investors' strategy of buying the dip in the US stock market this year, with negative news always being rewarded after fading away, it is now best to reduce risk exposure. Regardless of the Israel-Iran situation, the US stock market itself is already ripe for a correction. The latest Bank of America Fund Manager Survey also shows that about 54% of institutional investors expect international stocks to be the best-performing asset class over the next five years, while only 23% choose US stocks. Performance of Popular Stocks Tech giants generally fell on Tuesday, with Apple down 1.4%, Microsoft down 0.23%, Amazon down 0.59%, Nvidia down 0.39%, Google-A down 0.46%, Tesla down 3.88%, and Meta down 0.7%. Chinese ADRs also weakened due to market sentiment, with the Nasdaq Golden Dragon China Index closing down 1.77%. As of the close, Alibaba was down 0.8%, JD.com was down 0.93%, Baidu was down 1.42%, Pinduoduo was down 0.25%, Bilibili was down 2.6%, NIO was down 2.27%, NetEase was down 1.12%, and Futu Holdings was down 1.47%. The "Traditional Chinese Medicine + Brain-Computer Interface" concept stock that captured market attention yesterday, Brain Regeneration Technology, continued to rise by 30%, reaching a market capitalization of $38.5 billion, with a cumulative increase of 59,900% since the beginning of the year. It should be emphasized that the core reason for the stock's speculative surge lies in its extremely small free float. Company News [Amazon CEO Issues Warning on "AI Taking Jobs"] On Tuesday local time, Andy Jassy, CEO of Amazon, the world's largest e-commerce and cloud computing platform, publicly wrote that as the company widely adopts AI to enhance efficiency, it is expected that the overall workforce will be reduced. [US Energy Giant Chevron Officially Enters Lithium Industry] US energy giant Chevron announced on Tuesday its entry into the lithium industry. The company acquired two oilfield areas with the intention of building a "commercial-scale" lithium business in the US. Chevron stated that in the future, it will utilize the "Direct Lithium Extraction" (DLE) process at oilfields to extract lithium from brine. [Coinbase to Seek SEC Approval for Tokenized Equities] Paul Grewal, Chief Legal Officer of Coinbase, a cryptocurrency exchange and newly added member of the S&P 500 Index, revealed that the company is seeking approval from the US Securities and Exchange Commission (SEC) to launch a "tokenized equities" service. [Eli Lilly to Acquire Gene-Editing Startup Verve for $1.3 Billion] On Tuesday Eastern Time, US pharmaceutical giant Eli Lilly announced that it would acquire gene-editing startup Verve Therapeutics for up to $1.3 billion. In response to this news, Verve's stock price closed up 81.50% on Tuesday. [JPMorgan Chase Launches Deposit Token JPMD, Emphasizing It's Different from Stablecoins] JPMorgan Chase stated on Tuesday that it plans to launch a so-called deposit token, JPMD, on Coinbase's public blockchain Base, which is built on the Ethereum network. The token will provide customers with 24/7 settlement services and the ability to pay interest to holders. The Wall Street giant stated that this is a so-called "permissioned token," meaning it is limited to JPMorgan Chase's institutional clients only—different from most publicly circulating stablecoins. [Tesla's Stock Falls Due to Temporary Production Halt News] Tesla's stock price fell by 3.88% on Tuesday amid news that the company would suspend production of the Cybertruck and Model Y car models at its Austin, Texas, factory for a week. It is reported that the production halt for maintenance will begin on June 30, marking the third similar shutdown at the Austin factory in the past year. [Meta to Launch AI Glasses in Collaboration with Prada and Oakley] Market news on Tuesday reported that Meta and its AI glasses partner EssilorLuxottica plan to launch new AI glasses products under the Prada and Oakley brands. Meta had already announced on Monday that it would unveil a new collaboration with Oakley this week, focusing on sports scenarios. [Intel Reportedly to Cut Up to 20% of Employees in Its Foundry Division] An internal memo disclosed by the media on Tuesday revealed that Intel plans to reduce its workforce in the foundry business unit by 15% to 20% starting from July. It remains unclear how many employees will be directly affected by this move. Regulatory filings indicate that as of the end of last year, Intel had a total of 108,900 employees.

Recently, EVE Energy Co., Ltd. announced that its wholly-owned grand subsidiary, EVE BATTERY INVESTMENT LTD., holds a 30.73% stake in SMOORE International Holdings Limited. To enhance market capitalization management, the company intends to extend the previous share reduction plan, authorizing its chairman to reduce its stake in SMOORE International Holdings Limited by no more than 3.5%, or approximately 216.5785 million shares, within one year through block trading, concentrated bidding transactions, and other means. This share reduction plan does not constitute a related-party transaction or a major asset restructuring, and does not require submission to the shareholders' meeting for approval.

The market fluctuated and rebounded throughout the day, with the ChiNext Index leading the gains. Trading volume on the Shanghai and Shenzhen stock exchanges reached 1.22 trillion yuan, a decrease of 252.2 billion yuan compared to the previous trading day. On the futures market, hot topics rotated rapidly, with more stocks rising than falling. Over 3,500 stocks across the market advanced. In terms of sectors, the IP economy concept remained strong throughout the day, with multiple stocks such as Enlight Media hitting the daily limit. The stablecoin concept strengthened again, with stocks like GCL New Energy Holdings and Hundsun Technologies hitting the daily limit. The chemical sector remained active, with stocks like Jinniu Chemical hitting the daily limit. On the downside, the football concept experienced volatile adjustments, with Gongchuang Lawn approaching the daily limit down. By the close, the Shanghai Composite Index rose 0.35%, the Shenzhen Component Index rose 0.41%, and the ChiNext Index rose 0.66%. Sector-wise In the sector, stablecoin concept stocks strengthened further in the afternoon, with stocks like Insigma Technology, Tiansun Technology, Hundsun Technologies, Hengbao, China Finance Online, and Oceanpayment hitting the daily limit. Stocks like Lakala and Feitian Technologies rose over 10%. On the news front, Financial Secretary of the Hong Kong Special Administrative Region Government Paul Chan Mo-po recently wrote that after the Stablecoin Ordinance comes into effect, the Hong Kong Monetary Authority will process license applications as soon as possible to allow eligible applicants to commence their businesses. Additionally, Walmart, the largest retailer in the US, and Amazon, the largest e-commerce platform in the US, have recently been exploring the possibility of issuing stablecoins in the US. This, combined with the continuous surge in Circle, a stablecoin concept stock listed on the US stock market, has also catalyzed positive sentiment for A-shares. However, after the overall volume surge in the stablecoin sector, it remains noteworthy whether there will be sufficient capital inflows to support the sector tomorrow. If the sector can maintain its upward momentum or complete a transition from divergence to consensus within the day, its short-term position may be further strengthened. Conversely, if it returns to consolidation after a sentiment peak, it should be viewed from the perspective of topic rotation, with a focus on front-line core stocks at that time. The IP economy concept remained strong throughout the day, with stocks like Enlight Media, GaoLe, Cuihua Jewelry, Yuanlong Yatu, and Dazzle Fashion hitting the daily limit. Stocks like Rastar Group, Jinghua Laser, Kingwin Laser, and Bona Film Group led the gains. On the news front, on the IP side, Labubu has gone viral globally, with the overseas expansion of domestic cultural IPs exceeding expectations. Industry insiders commented that its popularity is another vivid manifestation of Chinese creativity and innovative products gaining global recognition. Huachuang Securities remains bullish on the high-growth development of China's IP industry and the progress of cultural exports in the long term. From a market perspective, the overall position of IP economy concept stocks has already risen significantly after the hype. Therefore, amid intensifying market divergence, fluctuations in related stocks during the trading day may be more pronounced. However, as long as the medium-term trend remains intact, the overall risk is relatively controllable. In addition, the market's recent speculation on the IP economy has gradually extended to sub-sectors such as film and television, gaming, and even 3D printing. Therefore, attention can still be paid to the rebound opportunities of newly strengthened stocks in lower-tier sub-sectors. Regarding individual stocks From the perspective of individual stocks, although short-term sentiment showed some recovery today, the feedback from high-level consecutive limit-up stocks remained relatively average. As of the close, only Yuanlong Yatu remained among the stocks with more than two consecutive limit-ups today. However, stocks like Beikong Technology, Nanhua Futures, Yiming Pharmaceutical, and Hengbao Co., although unable to maintain consecutive limit-ups, still managed to sustain a strong upward structure after breaking the streak. Therefore, in terms of the current speculative style, funds are no longer confined to pure consecutive limit-up strategies but are engaging in trend-based speculation combined with industry logic. On the other hand, the number of stocks with two consecutive limit-ups today increased to 16, mainly focusing on sectors such as oil and gas, IP economy, stablecoins, and chemicals. Therefore, which stocks can stand out in the future will also be a key focus, as the themes behind them may still hold certain rebound opportunities. Market Outlook Analysis The market rebounded with fluctuations today, with all three major indices closing in the green and more stocks rising than falling. This reflects that, after last Friday's high-volume adjustment, the market still possesses considerable momentum. However, it is worth noting that today's trading volume shrank significantly (a single-day decrease of over 250 billion yuan). Combined with the recent week's trend of "volume increases during declines and shrinks during rebounds," the market will need to confirm a renewed strength by breaking above the 5-day moving average with increased volume. From the perspective of the futures market, as repeatedly emphasized recently, the current hot topics continue to rotate rapidly, making it difficult for the market to form sufficient buying momentum. Therefore, to further enhance the profitability of the futures market, a more defined leading theme is needed to elevate the market's potential. Market News Focus 1. Goldman Sachs Turns Bullish Again: Global Funds Returning to China, Favoring China's "Top Ten" Stocks According to a report by CLS on June 16, Goldman Sachs' Chief China Equity Strategist, Kenneth Lau, recently released a research report titled "The Return of Chinese Private Enterprises: The Tide Has Turned." Lau pointed out that driven by various macro, policy, and micro factors, the medium-term investment outlook for Chinese private enterprises is improving. Goldman Sachs also emulated the "Magnificent Seven" of U.S. stocks and listed China's "Top Ten," which are the ten Chinese private publicly listed firms that Goldman Sachs particularly favors. They are Tencent, Alibaba, Xiaomi, BYD, Meituan, NetEase, Midea, Hengrui Medicine, Trip.com, and Anta. The combined market capitalization of the aforementioned ten companies reached US$1.6 trillion, accounting for 42% of the MSCI China Index's weight, with daily trading volume reaching US$11 billion. Goldman Sachs analysts forecast that the earnings of the "Big Ten" will increase by 13% (compound annual growth rate) over the next two years, with a price-to-earnings ratio of 16x. The "Big Ten" will collectively embody the latest economic themes in China, including AI/technology development, "going global," new consumption trends, and enhancing shareholder returns. Additionally, Liu Jinjin specifically noted that investing in private enterprises does not mean excluding state-owned enterprises—Goldman Sachs reiterated its preference for a combination of "high-quality" Chinese state-owned enterprises and shareholder returns. 2. National Bureau of Statistics (NBS): Industrial Added Value Above Designated Size Grew 5.8% YoY in Real Terms in May Caijing News on June 16: Data from the National Bureau of Statistics (NBS) showed that in May, the industrial added value above designated size grew 5.8% YoY in real terms. On a MoM basis, the industrial added value above designated size increased by 0.61% in May compared to the previous month. From January to May, the industrial added value above designated size grew 6.3% YoY.

Recently, Kinger Lau, Chief China Equity Strategist at Goldman Sachs, released a research report titled "The Return of China's Private Enterprises: The Tide Has Turned". Lau pointed out that driven by various macro, policy, and micro factors, the medium-term investment prospects for China's private enterprises are improving.

On Friday (June 13), US stocks opened lower and continued to decline, with all three major indices closing in the red. At the close, the Dow Jones Industrial Average fell 1.79% to 42,197.79 points; the S&P 500 fell 1.13% to 5,976.97 points; and the Nasdaq Composite Index fell 1.3% to 19,406.83 points. For the week, the Dow fell 1.32%, the S&P 500 fell 0.39%, and the Nasdaq fell 0.63%, all ending a two-week winning streak. In the early hours of Friday (June 13) local time, tensions in the Middle East escalated, causing several popular US stocks to decline significantly during the night session. Affected by geopolitical tensions, international crude oil futures settled sharply higher, rising over 7%. WTI July crude oil futures rose 7.26%, and Brent August crude oil futures rose 7.02%. US COMEX gold futures rose 1.47%. Despite the overall decline in US stocks, sectors such as energy and precious metals rallied against the trend. ExxonMobil rose 2.18%, ConocoPhillips rose 2.4%; VanEck Gold Miners ETF rose 1.74%, and Newmont Corporation rose 3.54%. Louis Navellier, Chief Investment Officer at Navellier & Associates, said, "The lasting damage could be to crude oil prices. If oil prices do not pull back soon, it will certainly cause some damage to US inflation data." Performance of Popular Stocks Most large-cap tech stocks declined, with (ranked by market capitalization) Microsoft falling 0.82%, NVIDIA falling 2.09%; Apple falling 1.38%, Amazon falling 0.53%, Alphabet Class C falling 0.62%, Meta falling 1.51%, Broadcom falling 2.88%, and Tesla rising 1.94%. Oracle rose 7.69%, gaining 23.68% for the week, marking its best weekly performance since 2001. Drone manufacturer AIRO Group surged 140% on its first day of trading. Among Chinese stocks listed in the US, the Nasdaq Golden Dragon China Index fell 2.74%, declining 0.77% for the week. Most popular Chinese stocks listed in the US closed lower, with Pony.ai falling 7.24%, XPeng Motors falling 5.46%, Li Auto falling 3.84%, Alibaba falling 3.22%, NIO falling 3.04%, Pinduoduo falling 2.76%, JD.com falling 2.53%, New Oriental falling 2.33%, Tencent Music Entertainment falling 2.13%, and Baidu falling 2.06%. Company News [Amazon Restructures Healthcare Business] To streamline its structure, Amazon is reorganizing its healthcare business into six "pillars." Previously, Amazon had lost several healthcare executives in recent months. After acquiring PillPack and One Medical and launching some of its own services, Amazon has been struggling to find a consistent strategy in the healthcare market. [AMD Unveils Two Generations of Flagship AI Chips to Compete with NVIDIA; Morgan Stanley: MI400 Could Be a Key Inflection Point] At the AMD Advancing AI conference, AMD showcased its strongest lineup of AI products ever, including flagship AI chips for data centers, AI software stacks, AI rack-level infrastructure, AI network cards, and DPUs, fully demonstrating its ambition to compete with NVIDIA. Morgan Stanley stated that AMD has released the MI350 as expected, but the focus remains on the rack-level MI400/450 products to be launched next year. If these products can be delivered on schedule, they could have a greater impact. [US eVTOL Giant Archer Raises $850 Million] Archer Aviation, a well-known US electric vertical takeoff and landing (eVTOL) aircraft company, announced that it has raised $850 million through the sale of shares. Archer stated that it plans to use the $850 million to support new infrastructure construction and launch an AI-based aviation software platform.

[Surg e Battery Metals PEA Reveals US$9.2 Billion Nevada Lithium Project] Surg e Battery Metals (SBM) has released a Preliminary Economic Assessment (PEA) for its North Nevada Lithium Project (NNLP), outlining the project's potential to become a low-cost, long-life producer of battery-grade materials for the US market. The PEA, jointly completed by M3 Engineering & Technology Corporation and Independent Mining Consultants, is based on a two-phase construction of the lithium plant to support a conventional open-pit mining operation projected to last 42 years. The report indicates that approximately 205 million mt of mineralized material will be mined over this period, with an average lithium grade of 4016 ppm. Mining will commence from the shallow, high-grade portion of the resource, which currently has an estimated lithium carbonate equivalent (LCE) of 8.65 million mt. The lithium plant will initially process ore at a rate of 2.58 million mt per year in Phase 1, doubling to 5.15 million mt per year in Phase 2, which is expected to come online in Year 4, resulting in an average throughput of 4.88 million mt per year over the life of the mine. Over 42 years, NNLP is projected to produce 86,300 mt of LCE per year, with an average recovery rate of 82.8%. Peak production of 109,100 mt is expected to be reached in Year 6. According to the PEA, the construction cost for Phase 1 is approximately US$2.97 billion, including US$23 million in mine capital expenditure, while Phase 2 is expected to cost an additional US$2.35 billion. Adding US$1.51 billion in sustaining capital, the total project cost will reach US$6.86 billion. Using a base case LCE price of US$24,000 per mt, the study results in an after-tax net present value (at an 8% discount rate) of US$9.21 billion and an internal rate of return of 22.8% for the project. Operating costs are set at US$5,097 per mt of LCE, owing to NNLP's near-surface, high-grade mineralization. The report projects a payback period of 4.7 years for the project. Following the release of the PEA, SBM's share price surged 15.8% to reach CAD$0.33 per share by midday Toronto time, giving the company a market capitalization of CAD$59 million (approximately US$43 million). "NNLP has the potential to become a major low-cost producer of battery-grade lithium carbonate for the US battery industry, and our results today take us a significant step closer to achieving that goal," said SBM CEO Greg Reimer in a press release. "Low operating costs, a good return on investment, and the ability to produce significant quantities of battery-grade lithium carbonate, including a peak of 109,100 mt in a single year, all demonstrate NNLP's first-tier status," he added. Source: mining.com [Zimbabwe to Ban Lithium Concentrates Exports from 2027] Zimbabwe's Minister of Mines, Winston Chitando, announced on Tuesday that the country will ban the export of lithium concentrates starting from 2027 to promote the development of more local processing industries. As Africa's largest lithium producer, Zimbabwe's lithium resources are primarily used in batteries that power renewable energy technologies. In 2022, Zimbabwe banned the export of lithium ore and has been encouraging miners to increase domestic processing. Currently, most of Zimbabwe's lithium mining companies are from China, and they previously mainly exported lithium concentrates to China for further processing. Chitando stated that currently, Bikita Minerals (owned by China's Sinomine Resource Group) and Prospect Lithium Zimbabwe (owned by Zhejiang Huayou Cobalt) are actively developing lithium sulfate plants. Lithium sulfate is an important intermediate product that can be further refined into battery-grade materials, such as lithium hydroxide or lithium carbonate, for battery manufacturing. He pointed out, "As the country's relevant capacity gradually improves, we will completely ban the export of lithium concentrates starting from January 2027." In 2023, Zimbabwe required lithium mining companies to submit plans for building local refineries by March 2024, but this requirement was adjusted due to the sharp decline in metal prices. Sinomine Resource Group and Huayou Cobalt are part of a group of Chinese companies. Since 2021, companies including Chengxin Lithium Group, Yahua Group, and Canmax have invested over $1 billion in total to acquire and develop lithium projects in Zimbabwe. Source: mining.com [Volt Lithium to Deploy Mobile Direct Lithium Extraction Unit in Bakken Region, North Dakota] Volt Lithium Group, soon to be renamed LibertyStream Infrastructure Partners, announced that its proprietary mobile direct lithium extraction ("DLE") unit will undergo final assembly and deployment in the Bakken region of North Dakota, with plans to be put into use in the second half of June 2025. This initiative, in collaboration with Wellspring Hydro ("Wellspring"), has received a total of $2.5 million in funding support from the North Dakota Industrial Commission's Clean and Sustainable Energy Authority and Renewable Energy Program. "Wellspring and the North Dakota government are very excited to commence on-site operations with Volt in North Dakota in the second half of June," commented Mark Watson, President and CEO of Wellspring. "Volt is the only DLE company funded in North Dakota to date," added Mr. Watson. "Based on Volt's successful lithium extraction results at its Calgary R&D facility, both parties are confident in the success of Volt's proprietary lithium extraction unit on-site." The upcoming renaming to LibertyStream Infrastructure Partners reflects the company's strategy of continuing to collaborate with major oilfield infrastructure players in the US, aiming to extract valuable lithium, a critical mineral, from the large volumes of produced water associated with oil and gas production. Key Highlights: Proprietary technology and processes adapt to diverse brine chemistries, facilitating Volt's expansion in the Bakken region of North Dakota. Strategically located in two major oil-producing basins in North America (Permian and Bakken). Permian Potential: Up to 170,000 mt LCE per year. Bakken Potential: Up to 50,000 mt LCE per year, with lithium concentrations nearly three times those of the Permian. Actively building lithium chloride inventory and converting it into high-purity lithium carbonate for potential buyers. Within six months of initial deployment, deployed, expanded, and optimized the largest operational DLE system in North America (over 10,000 barrels per day). Source: junior mining network [Q2 Metals Announces Final Analysis Results of 2025 Winter Drilling Program and Initiates Work on Exploration Targets for the Cisco Lithium Project] Q2 Metals is pleased to announce the remaining analysis results of the 2025 Winter Drilling Program (the "2025 Winter Program") for its Cisco Lithium Project (the "Project" or "Cisco Project") located within the traditional territory of Nemaska in the Eeyou Istchee James Bay region of Quebec, Canada. During the 2025 Winter Program, the Company drilled a total of 14 holes for 6,980 meters, and the analysis results reported herein cover 4,409 meters of drilling data from the last 10 holes. "We are extremely pleased with the final results from these widely spaced holes. Not only did they intercept significant widths and grades, but they also provided us with critical information that will guide subsequent drilling activities. The Cisco Project continues to demonstrate immense potential and is emerging as a significant discovery within one of the world's top mining jurisdictions," said Alicia Milne, CEO and President of Q2 Metals. "We look forward to commencing work on exploration targets, which will provide initial guidance on the potential size, grade range, and relative position of the Cisco Project compared to other major hard-rock lithium projects." "Q2 is in for a busy summer at the Cisco Project. Currently, our team is on-site conducting geological mapping and sampling work, with the first hole expected to commence next week," said Neil McCallum, Vice President of Exploration for Q2 Metals. "The information we have gathered through multiple drilling campaigns is currently under review by BBA Engineering, which is developing an exploration target aimed at quantifying the potential of the main mineralized zones at the Cisco Project. Additionally, three composite samples are undergoing testing by SGS to understand the potential for heavy liquid separation processing capabilities." Hole CS25-028 tested the eastern part of the main mineralized zone and provided additional data for this area. Combined with other drillholes previously drilled in the east, the mineralized zone in this area remains open to the east. Drillhole CS25-030 targeted the deep part of the northern extension of the main mineralized zone, and the results indicate that the mineralized zone is also open in this direction. Drillhole CS25-036 was terminated prematurely before the suspension of the current year's goose hunting season, failing to reach the planned final depth. Nevertheless, the objectives of the drillhole were achieved, intercepting multiple wide pegmatite intervals, which will help determine the geometry of the pegmatite and provide guidance for scale-defining drilling. The drillhole will be restarted during the 2025 summer drilling campaign. Drillholes CS25-029, 031, and 033 targeted the southern extension of the main mineralized zone. Due to a drillhole spacing of 200 meters and a limited number of drillholes on each profile line, pegmatite intervals wider than 100 meters were not intercepted. Although wide pegmatite intervals are expected in this area, further testing is required. It is noteworthy that the pegmatite intervals in the southern drillholes are deeper, and further work will be conducted in this area during the 2025 summer exploration season to test the potential location of the pegmatite plunging to the west. Overall, the main mineralized zone remains open to the south. Drillholes CS25-032, 034, 035, and 037 were used to define the subsurface expression of prominent mineralized carbon dioxide veins. There are still multiple potential directions in this area that have not been tested, requiring further follow-up. Source: junior mining network