Gunnison Copper Achieves Key Milestone Under U.S. Department of Energy 48C Program
(TSX: GCU) (OTCQB: GCUMF) Gunnison Copper Corp. announced that it has submitted its certification documentation to the U.S. Department of Energy for the Section 48C Advanced Energy Project Tax Credit awarded to the Company's Johnson Camp Mine in Arizona. The project has met the requirements outlined in the Company's 48C application, including placing the eligible assets into service and commencing production in 2025. Gunnison and Nuton were selected to receive US$13.9 million in tax credits under the program. The Johnson Camp Mine achieved first production in 2025 and is currently producing copper cathode from run-of-mine oxide material and Nuton® bioleaching technology of sulfide material, with a production capacity of up to 25 million lbs of finished copper cathode annually. The Gunnison Copper Project has a main pit Measured and Indicated Mineral Resource containing over 846 million tons with a total copper grade of 0.33% containing 5.19 billion pounds of copper. A preliminary economic assessment completed in March 2026 for the Gunnison Project yielded an NPV8% of $2 billion, IRR of 23%, and payback period of 3.9 years. The company projects further development of its flagship Gunnison Copper Project and the approval of the certification documents for the 48C tax credits.
Europa Oil Gas Holdings — Block Listing Application to AIM
(LSE:EOG) Europa Oil & Gas (Holdings) plc announced an application has been made to AIM for a block listing of 96,249,532 ordinary shares of 1 pence each in the Company. The block listing application will be used to facilitate the admission to trading on AIM of ordinary shares arising from the exercise of outstanding warrants issued by the Company. The Ordinary Shares may be issued from time to time pursuant to the exercise of such warrants. New Ordinary Shares issued following the exercise of warrants and admitted to trading under the block admission will rank pari passu in all respects with the existing Ordinary Shares. The block listing is expected to become effective on 16 July 2026. At the time of this announcement, Europa has 1,316,139,215 Ordinary Shares in issue. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Oil And Gas Development Company Limited — Transfer of BESOS shares back to Govt. of Pakistan
(LSE:OGDC) Oil and Gas Development Company Ltd announced the transfer of 432,189,039 ordinary shares of OGDCL Employees Empowerment Trust, formed under Benazir Employees Stock Option Scheme, back to the Government of Pakistan (GoP). As a result, the GoP's direct shareholding in the Company has increased from 67.48% to 77.53%. The transaction was executed on 08-07-2026 at a price per share of 0.00. The cumulative number of shares owned by the President Islamic Republic of Pakistan is now 3,334,337,220, representing 77.53% of the company. The transfer was conducted in physical form. This information was submitted in compliance with Section 96 of the Securities Act, 2015 and Clause 5.6.1(a) of the PSX Regulations. No forward-looking statements or projections are included in the announcement.
Questcorp and Riverside Resources Complete Complementary Geophysics Programs as Drilling Continues at La Union Project
(CSE: QQQ) (OTCQB: QQCMF) Questcorp Mining Inc. announced the completion of expanded drone magnetic and IP geophysical programs linked to current drilling at the La Union Project, Sonora, Mexico. A further 248-line kms of drone magnetics were completed, consisting of 193-line kms at 100m line spacings and 55-line kms of tie lines. Additionally, 8-line kms of IP were completed, adding to the 4-line kms completed in 2025. Four holes totaling 400 metres have been completed since Phase 1 drilling commenced on June 9th, with samples now at the Zacatecas laboratory. The completed IP survey comprised 5 dipole-dipole lines with a 50m dipole spacing, providing resistivity and conductivity data to a depth of about 200m. Questcorp holds an option to acquire a 100-per-cent interest in mineral claims totaling 1,168.09 hectares at the North Island Copper property and 2,520.2 hectares at the La Union Project. The company projects that geophysics combined with surface geochemistry should provide more refined targets for the ongoing drill program.
Renewables: TotalEnergies Divests its distributed
(LSE:TTE) (NYSE:TTE) TotalEnergies announced that it has completed the divestment of all its distributed solar assets (around 170 MW), mainly rooftop installations, across 7 European countries to Amarenco and AMPYR Distributed Energy. The divested assets are located in France, Belgium, the Netherlands, Spain, Portugal, the United Kingdom, and Luxembourg. The company installed 8 GW of gross renewable capacity in the last twelve months, reaching 35 GW of gross capacity at end-March 2026. By the end of April 2026, TotalEnergies holds nearly 36 GW of gross renewable power generation capacity. TotalEnergies aims to maintain this annual pace through to 2030 to reach more than 75 GW and aims to achieve over 100 TWh of net electricity production by 2030. The company states that this divestment will have no impact on its pace of development in renewables.
Oil's rally looks more like a reset than a shock: Chart of the Day
Oil has rallied recently as tensions surrounding the US-Iran ceasefire escalate, but this movement appears more like a technical reset than a significant shock to the market. WTI crude is bouncing off oversold levels near $67, which has transitioned from a previous ceiling to a new support level. This two-day surge is the largest since late April, yet it faces immediate resistance at the 200-day moving average around $74, where prices previously overshot before retreating. The Relative Strength Index indicates that WTI was oversold, falling below 30 for the first time since April 2025, suggesting that a bounce was anticipated. The critical test now lies at the $80 mark, which served as support during the mid-April sell-off; breaching this level could signal a more substantial rally. However, the heavier resistance zone is around $85, where higher prices could reignite consumer anxiety and inflation concerns. If WTI fails to hold above $67, the reset will be deemed unsuccessful, potentially leading prices down to the mid-$50s. Until the $85 threshold is surpassed, the current rally is primarily driven by geopolitical risk rather than a fundamental oil shock. Investors should remain cautious, as the market dynamics suggest that while there is upward momentum, significant barriers still exist.
TotalEnergies Ships First LNG Cargo From Mexican Pacific Coast to Asia
'TotalEnergies will be the sole offtaker of LNG during the ramp-up phase'.
ADNOC Scores 15-Year Deal to Supply 1 MMtpa of LNG to INPEX
Nearly 23 percent of Ruwais LNG's 9.6 MMtpa capacity has been offtaken by Japanese customers, ADNOC said.
INPEX Starts Appraisal Drilling for Japan CCS Project
Metropolitan CCS, a joint venture of INPEX and Kanto Natural Gas Development, began drilling an appraisal well for a carbon capture and storage project planned to serve industrial emitters in the Greater Tokyo Area.
Mexico: TotalEnergies Ships to Asia the Very
(LSE:TTE, NYSE:TTE) TotalEnergies has shipped to Asia the very first cargo from ECA LNG Phase 1, a liquefied natural gas (LNG) export terminal currently under commissioning on Mexico’s Pacific Coast, in Baja California. TotalEnergies holds a 16.6% stake in the project alongside operator Sempra Infrastructure and will offtake 1.7 million tonnes per year (Mtpa) of LNG for 20 years from the start of commercial operations. ECA LNG Phase 1 consists of a single-train liquefaction facility with a nameplate LNG capacity of 3.25 million tonnes per annum (Mtpa), supplied with U.S. feed gas sourced from the Permian Basin in Texas and New Mexico. TotalEnergies is the world’s third largest LNG player with a global portfolio of 44 million tonnes in 2025 and access to more than 20 Mtpa of regasification capacity in Europe. The project is expected to reach substantial completion in the summer 2026, with long-term LNG sales agreements taking effect shortly thereafter as the facility enters commercial operations. TotalEnergies’ ambition is to increase the share of natural gas in its sales mix to close to 50% by 2030. A second larger phase is also under development at the same site.
Valeura Energy Inc.: Q2 2026 Operations Update
(TSX:VLE, OTCQX:VLERF) Valeura Energy Inc. reported that oil production averaged 22.3 mbbls/d in Q2 2026, with sales of 2.454 million bbls and price realisations averaging US$105.8/bbl, resulting in revenue of US$259.8 million. The company drilled the longest horizontal lateral ever recorded in the Gulf of Thailand and the first ever complex multi-lateral development well in Thailand, both on the Nong Yao field. Valeura secured a formal reduction of the Manora field’s decommissioning liability, leading to a 31% reduction in restricted cash. The cash position at 30 June 2026 was US$316.5 million (including US$15.8 million restricted cash), with a receivable of US$42.7 million for oil sold just prior to quarter end and no debt. Taxes paid during the quarter amounted to US$19.2 million, related mostly to the 2025 financial year Special Remuneratory Benefit. The company anticipates record quarterly free cash flow of approximately US$100 million for Q2 2026, based on preliminary unaudited estimates. Valeura intends to release its full unaudited financial and operating results for Q2 2026 on 06 August 2026.
Oil Price Surge Shows Markets Were Too Relaxed About Iran Deal
Oil prices surged over 5% on Wednesday, reaching a two-week high, as market participants recalibrated their expectations regarding the U.S.-Iran negotiations. The recent Iranian attacks on commercial vessels, including an oil tanker and an LNG carrier, have heightened geopolitical tensions and raised concerns about the security of oil flows through the Strait of Hormuz. This escalation indicates that the market may have been overly relaxed about the prospects of a ceasefire holding and the potential for increased oil supply from the region. The surge in prices reflects a growing recognition of the risks associated with Middle Eastern geopolitics, which can significantly impact global oil supply. Investors should be aware that any further deterioration in relations or additional military actions could lead to even higher prices, as fears of supply disruptions mount. Additionally, the market's reaction underscores the sensitivity of oil prices to geopolitical developments, particularly in a region that is critical for global energy flows. As tensions persist, volatility in oil prices is likely to remain elevated, prompting traders to closely monitor developments in the U.S.-Iran negotiations. The situation serves as a reminder that while supply-demand fundamentals are crucial, geopolitical factors can swiftly alter the landscape, leading to rapid price movements. Overall, the recent price spike signals a shift in sentiment, with the market now more attuned to the risks posed by geopolitical instability in oil-producing regions.
Sempra Infrastructure's ECA LNG Phase 1 Exports First LNG Cargo from Mexico's Pacific Coast
(NYSE: SRE) Sempra Infrastructure, a subsidiary of Sempra, announced that the ECA LNG Phase 1 project in Ensenada, Mexico, has safely and successfully loaded and shipped its first cargo of liquefied natural gas (LNG). The ECA LNG Phase 1 consists of a single liquefaction train with nameplate capacity of 3.25 million tonnes per annum (Mtpa) of LNG. The project is a joint venture with TotalEnergies and is supported by long-term sale and purchase agreements with TotalEnergies and Mitsui & Co. The project is expected to reach substantial completion in the summer of 2026, with sales under long-term sale and purchase agreements commencing shortly thereafter, when the facility begins commercial operations. A second and significantly larger phase is also under active development at the same site. Sempra Infrastructure is headquartered in Houston and is focused on developing, building, operating and investing in modern energy infrastructure in North America. The ECA LNG facility is described as a cornerstone of Sempra Infrastructure's dual-coast LNG portfolio.
Impact Minerals Set for Phase 2 Drilling at Commonwealth Gold-Silver Project
(ASX: IPT) Impact Minerals is set to benefit from a new phase of diamond drilling at its Commonwealth-Silica Hill gold-silver project in central New South Wales, where joint venture partner Kuniko (ASX: KNI) has mobilised a rig to site. The initial Phase 2 program will comprise approximately 1,340 metres across six holes targeting extensions to the high-grade mineralisation identified during the successful first campaign. Impact retains a 30% interest in the project, free-carried to a decision to mine, while Kuniko can earn up to 70% by spending $3 million on exploration over four years. The new drilling will also support an upgraded mineral resource estimate planned for the fourth quarter of 2026. The first campaign intersected a broad 84m zone grading 2.6 grams per tonne gold equivalent, including 3.4m at 50g/t gold equivalent and a bonanza-grade 0.5m vein grading 347g/t gold equivalent, comprising 27g/t gold and 20,603g/t silver. Phase 1 returned 8m at 8.6g/t gold equivalent from the Main Shaft area including 3.8m at 17.4g/t gold equivalent, while Commonwealth South produced 7.1m at 9.7g/t gold equivalent including a higher-grade core of 3.1m at 21.6g/t gold equivalent. The company projects that results from Phase 2 will be incorporated into a planned resource update expected in the December quarter, followed by planning for a third drilling phase.
Synertec Selected by Amplitude Energy for Orbost Gas Plant Power Optimisation Project
(ASX: SOP) Synertec Corporation has been selected by Amplitude Energy (ASX: AEL) as the preferred proponent for a power optimisation project at the Orbost gas processing plant in Victoria’s Gippsland Basin. The project will initially see Synertec complete front-end engineering and design (FEED) for an integrated Powerhouse solar and battery solution, expected to incorporate approximately two megawatts of solar generation and five megawatt-hours of battery storage. The project has an indicative value of between $4.5 million and $5.5m, subject to Amplitude Energy reaching a final investment decision. The FEED process is expected to be completed during the first half of the 2027 financial year and will include detailed engineering, power system modelling, reliability and availability assessments, safety and regulatory work, implementation planning, and development of a Class 2 cost estimate. The work represents the first stage of a proposed three-stage development covering design, construction and commissioning, followed by long-term operations, maintenance, and performance support. Synertec will evaluate both a traditional capital sale and a build, own, operate and maintain structure during the FEED process. The company projects that the preferred structure will be determined as the technical design and commercial parameters are refined, with any subsequent construction and operational stages remaining subject to Amplitude’s final investment decision.
$130 Billion in AI Data Centers were Just Blocked. Where Does the AI Boom Go Now
(NASDAQ:AIBZ) Bitzero signed a binding letter for a 15-year lease worth roughly $2.6 billion with cloud and network provider OneQode in May, committing the full 110-megawatt initial capacity of its Namsskogan, Norway site. The company began trading on the Nasdaq on June 9, after previously being listed on a junior exchange. Bitzero controls more than a gigawatt of low-cost, clean power capacity across Norway and Finland, with its Finland site in Kokemäki planned to support up to a full gigawatt and a confirmed 400 kV grid connection. The Namsskogan site draws 100% renewable hydroelectric power at 3 to 4 cents per kilowatt-hour and holds its own license to connect directly to the high-voltage grid. Bitzero expects the OneQode agreement to generate roughly $2.6 billion in revenue over the life of the lease, with operations slated to begin in the first half of 2027 and an estimated 85% net operating income margin, equating to around $178 million in annual revenue at full capacity and about $151 million in net operating income. The company estimates the campus can scale toward 315 megawatts, and its North Dakota site is a decommissioned anti-ballistic missile complex repurposed for sensitive computing.
Finder Energy Secures Development Approval for KTJ Oil Fields
(ASX: FDR) Finder Energy has secured approval for the field development plan covering the Kuda Tasi and Jahal (KTJ) oil fields offshore Timor-Leste. The approval from the Autoridade Nacional do Petróleo provides the principal regulatory authorisation required to develop the fields and clears a pathway toward a final investment decision during the September quarter. Finder is continuing financing, contracting, and procurement work in parallel to maintain an accelerated schedule targeting first oil between late 2027 and early 2028. The first development phase will use three subsea production wells, with two targeting the Kuda Tasi field and one planned for Jahal. The project has progressed through subsurface studies, engineering design, environmental work, development area approval, and acquisition of the Petrojarl I floating production storage and offloading vessel since Finder assumed operatorship in August 2024. Finder is targeting completion of debt financing and an independent competent person’s report supporting the funding process during the September quarter. The company also plans to execute other major development agreements and contracts, and secure a suitable rig for the development campaign, as the project moves toward construction readiness.
Stock Futures Rebound as Markets Shrug Off U.S.-Iran Strikes
Crude prices experienced a notable rally following President Trump's declaration that the cease-fire between the U.S. and Iran was "over," signaling a potential escalation in geopolitical tensions that could disrupt oil supply. This statement has heightened concerns among investors about the stability of oil flows from the Middle East, a region already fraught with volatility. As tensions rise, market participants are likely to factor in the risk premium associated with potential supply disruptions, which could support higher oil prices in the near term. Additionally, the rebound in stock futures indicates a broader market sentiment that may temporarily overlook geopolitical risks, but this could shift quickly if conflict escalates. The interplay between stock market performance and oil prices suggests that investor sentiment is fragile and susceptible to news from the region. Furthermore, any sustained military engagement could lead to increased sanctions or military responses that would further complicate the oil supply chain. Investors should remain vigilant as the situation develops, as any significant military action could lead to immediate spikes in crude prices. Overall, the current geopolitical landscape underscores the importance of monitoring U.S.-Iran relations closely, as they have direct implications for oil market stability and pricing. The potential for increased volatility in oil prices remains high, driven by both geopolitical factors and the underlying fundamentals of supply and demand.
Vermilion Energy Inc. Announces TSX Approval for Renewal of Normal Course Issuer Bid and Confirms Q2 2026 Release Date and Conference Call Details
(TSX: VET) (NYSE: VET) Vermilion Energy Inc. announced that the Toronto Stock Exchange has approved the notice of Vermilion's intention to commence a normal course issuer bid (NCIB) allowing the company to purchase up to 15,157,179 common shares, representing approximately 10% of its public float as at June 30, 2026, over a twelve-month period commencing on July 12, 2026. The NCIB will expire no later than July 11, 2027, and is subject to a daily purchase limit of 322,467 common shares, representing 25% of the average daily trading volume of 1,289,870 common shares on the TSX for the six-month period ended June 30, 2026. As of June 30, 2026, Vermilion had 152,948,362 common shares issued and outstanding and a public float of 151,571,790 common shares. Under its prior NCIB, which runs from July 12, 2025, to July 11, 2026, the company was allowed to purchase up to 15,259,187 common shares and had repurchased an aggregate of 1,749,691 common shares at a weighted average price of $12.43 per common share as at June 30, 2026. Vermilion has paid out over $40 per share in dividends since 2003 and has had an active NCIB since 2022. The company anticipates returning 40% of excess free cash flow to shareholders in 2026, primarily through the base dividend and share repurchases. Vermilion will release its 2026 second quarter operating and condensed financial results on July 29, 2026, after the close of North American markets.
MDA Space Enters into Firm Offer to Acquire Collecte Localisation Satellites (“CLS”), a Global Leader in AI-Driven Earth Observation Data Analytics
(TSX:MDA) (NYSE:MDA) MDA Space Ltd. announced it has entered into a firm and irrevocable offer to acquire a majority interest in CLS for approximately €567 million (C$920 million) in cash, subject to adjustments. CLS is expected to generate approximately €286 million (C$465 million) in revenue in 2026, with an average annual growth rate of 22% since 2023. MDA Space would acquire an approximately 70% interest in CLS, while the Centre national d'études spatiales (CNES) would retain an approximately 30% interest. CLS employs approximately 1,200 people at its headquarters in Toulouse (France) and in 40 sites around the world, serving more than 14,000 customers in approximately 150 countries. CLS expected Adjusted EBITDA margins are in line with MDA Space 2026 full year outlook of 18% to 20%. The transaction is expected to be completed by the end of 2026 or early 2027, subject to regulatory approvals and consultation procedures. MDA Space has obtained committed financing from BMO Capital Markets, RBC Capital Markets and Scotiabank.
SM Energy Schedules Second Quarter 2026 Conference Call for August 6, 2026
(NYSE: SM) SM Energy Company announced that it plans to release second quarter 2026 financial and operating results after market close on August 5, 2026. The Company will hold a conference call to discuss results on August 6, 2026, at 8:00 a.m. MT (10:00 a.m. ET). SM Energy Company describes itself as a premier, scaled operator of top-tier oil and gas assets across four leading U.S. shale basins: the Permian Basin, DJ Basin, South Texas, and Uinta Basin. The Company states it is focused on operational excellence, disciplined capital allocation, and delivering growing returns to stockholders. SM routinely posts important information about the Company on its website. The replay of the conference call will also be available on the Company's website under the 'Investor Relations' section. For more information, visit www.sm-energy.com.
Oil Surges on Renewed Iran Strikes
Oil prices surged to two-week highs after renewed U.S. strikes on Iran and threats to disrupt shipping through the Strait of Hormuz.
BE Investor Notice: Johnson Fistel Investigates Bloom Energy Corporation
(NYSE:BE) Johnson Fistel, PLLP is investigating Bloom Energy Corporation on behalf of investors who suffered losses and whether those losses may be recoverable under federal securities laws. On July 8, 2026, Hunterbrook published a report concerning Bloom Energy’s AI growth narrative and certain statements concerning its supply chain. The report challenged statements by Bloom's CEO that the Company has “no China supply chain” and is “not dependent on China for scandium,” alleging that Bloom remains reliant on Chinese-sourced scandium through multiple supply routes. Hunterbrook cited a representative of Hunan Oriental Scandium, who allegedly stated, “We are also BE's largest supplier of scandium,” and, when discussing how the material reaches U.S. customers, stated, “Not exported directly.” In 2024, Johnson Fistel recovered approximately $90,725,000 for investors. The company projects no forward-looking claims in the source text.
Crude pares steep gains as traders take stock after US-Iran flare-up
Crude prices have retreated as traders reassess the implications of the recent US-Iran tensions, which have introduced significant uncertainty into the market. The exchange of strikes between the two nations has raised concerns about the stability of the Middle East, particularly given that the Strait of Hormuz is a critical chokepoint for global oil supply. With Donald Trump declaring the ceasefire over and threatening further action, the potential for escalated conflict looms large, which could disrupt oil flows and elevate prices. Investors are now weighing the risks of heightened military engagement against the backdrop of ongoing peace talks, which could either stabilize or further destabilize the region. The market's reaction reflects a cautious approach as participants digest these developments, leading to a pullback from the previous day's gains. The volatility in oil prices underscores the sensitivity of the market to geopolitical events, particularly in a region that accounts for a significant portion of global oil production. As tensions persist, traders should remain vigilant, as any escalation could lead to supply disruptions and a sharp price spike. Conversely, if diplomatic efforts yield positive results, we could see a stabilization in prices. Overall, the current geopolitical climate is a reminder of the intricate balance between supply, demand, and international relations that governs the oil market.
Surge Announces Addition of Cesium-Rubidium to Nevada North Following Averages of up to 291ppm Rb and 125ppm Cs in Primary Horizons
(TSXV: NILI) (OTCQX: NILIF) Surge Battery Metals Inc. announced that Nevada North Lithium, LLC, the joint venture between Surge and Evolution Mining Limited, has received final analytical reruns for all 2022 and 2023 drill holes on the Nevada North Lithium Project. The results confirm geochemical continuity of Cesium (Cs) and Rubidium (Rb) across the entire deposit footprint, with average grades of 125 ppm Cs and 291 ppm Rb at a 2,000-ppm Li cut-off, and 120 ppm Cs and 277 ppm Rb at a 1,250-ppm Li cut-off. The project reported an after-tax NPV8% of US $9.17 Billion and after-tax IRR of 22.8% at $24,000/t LCE and an OPEX of US $5,243/t LCE, as disclosed in the Preliminary Economic Assessment dated May 19, 2025. The pit-constrained Measured & Indicated Resource contains an estimated 10.51 Mt of Lithium Carbonate Equivalent (LCE) grading 3007 ppm Li at a 1,250-ppm cutoff. Surge has granted a total of 6,950,000 stock options, exercisable for five years at an exercise price of $0.70 a share. The company projects integrating Cesium and Rubidium results into the upcoming Pre-Feasibility Study (PFS) and is actively evaluating the potential to recover these as high-value co-products or by-products. The first three rounds of drilling identified a mineralized zone of lithium bearing clays with a strike length of more than 4,300 meters and a known width of greater than 1,500 meters.
GMG Board Approves Capital for Engineering of Factory for Graphene Factories
(TSXV: GMG) Graphene Manufacturing Group Ltd. announced that its Board of Directors has approved AU$1.2 million in capital expenditure for the next stage of detailed design, engineering and long-lead procurement for its next-generation graphene manufacturing plant. The planned Fulcrum Facility will be located in GMG's newly leased warehouse in Richlands, near the existing GMG "Boundary" Facility (HQ) in Queensland, Australia. The Fulcrum Facility will include an area for assembling Graphene Modular Production Units (MPU's) and a separate operating area for up to 5 separate Graphene MPU's, each with an estimated capacity of up to 20 tonnes per annum. Once fully completed and optimised, the Fulcrum Facility is expected to have annual production capacity of up to 100 tonnes of graphene and to assemble and commission up to 12 additional MPU's per annum, equivalent to a further 240 tonnes of annual graphene production capacity. The facility is also expected to be largely self-powered through standalone energy generation using renewable sources, an energy storage system and hydrogen-enriched natural gas supplied by tail gas power generation. GMG is progressing site selection and government approvals studies for locating a graphene production facility in both USA and Canada. The company projects that optimisation of the Gen 2.0 Plant for graphene quality, production rate, graphene packing, and self-power generation will not be completed until the end of 2026.
TVL and E3 Lithium Refining Partnership
(LSE: ALK) Alkemy Capital Investments plc announced that its wholly owned subsidiary, Tees Valley Lithium Ltd (TVL), has entered into a non-binding Heads of Terms with E3 Lithium Ltd. for a proposed long-term refining partnership. The agreement outlines that E3 would utilise TVL's UK lithium hydroxide conversion capacity to convert lithium carbonate from E3's Clearwater Project in Alberta, Canada into battery-grade lithium hydroxide, with up to 50,000t over an initial 10-year term. TVL is building a £185 million merchant lithium refinery in the Billingham chemical cluster Teesside, designed to refine 25,000 tonnes per year of battery-grade lithium using Veolia's process technology, supporting the production of 550,000 electrical vehicles. E3 Lithium has a total of 21.2 million tonnes (Mt) of lithium carbonate equivalent (LCE) Measured and Indicated, 0.3 Mt LCE Inferred mineral resources, and a 1.13 Mt LCE proven and probable mineral reserve in Alberta, Canada. The Clearwater Pre-Feasibility Study outlined a pre-tax NPV(8%) of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV(8%) of USD 3.7 Billion with a 24.6% IRR. The Heads of Terms builds on TVL's previously announced binding offtake agreement with a wholly owned subsidiary of Glencore plc for up to 10,000 tonnes per annum of battery-grade lithium hydroxide. The company projects that the partnership will provide E3 with access to a lithium hydroxide supply chain to diversify both the geographical reach and the lithium chemistries available to its customers.
EMP Metals Provides First Half 2026 Corporate Update
(CSE:EMPS) (OTCQB:EMPPF) EMP Metals Corp. announced a corporate update for the first half of 2026, highlighting the advancement of Project Aurora from construction into commissioning. During this period, EMP completed major site infrastructure, received all required project permits, initiated commissioning activities, introduced first raw brine into the demonstration facility, and secured key government support. Approximately 50% of the overall commissioning program is now complete, with the first raw brine introduced into the pre-conditioning process system on July 1, 2026. EMP successfully completed an oversubscribed financing and received significant non-dilutive government support through the BC Innovative Clean Energy (BCIN) Fund, the National Industry-Led Network of Centres of Excellence (NGen) program, and the Saskatchewan Critical Minerals Innovation Incentive (SCMII). Project Aurora is designed to process ten (10) m³/day of raw brine and aims to support future commercial-scale development. The demonstration facility is intended to validate process performance and generate engineering and economic data for a future modular commercial facility capable of producing more than 3,000 tonnes per year of lithium products. EMP currently holds over 205,000 net acres (83,000 hectares) of Subsurface Dispositions and strategic wellbores in Southern Saskatchewan.
Ignitis Secures Additional Long-term Capacity
(LSE/AIM:IGN) AB “Ignitis grupė” announced that its subsidiary UAB “Ignitis” has additionally secured 2 TWh of annual regasification capacity at the Klaipėda LNG terminal on the secondary market for the period of 2033–2044. On 10 June 2026, the Group announced that it had reserved 4 TWh of annual regasification capacity for the period 2033–2044 through the long-term capacity allocation procedure organised by KN Energies. The long-term access to the terminal is stated to provide greater flexibility in planning gas supplies, enables the diversification of supply sources and strengthens energy resilience in Lithuania and the Baltic region.
Zenith Energy: Reveille Resources Admitted to Aquis Growth Market
(LSE: ZEN; OSE: ZENA) Zenith Energy Ltd. announced that Reveille Resources PLC was successfully admitted to trading on the Aquis Growth Market on 7 July 2026, with Zenith remaining the largest shareholder. Reveille completed its Initial Public Offering, raising gross proceeds of £2.0 million through the issue of 40,000,000 new ordinary shares at a price of 5 pence per share, and an additional £680,000 was raised through pre-IPO subscriptions. Upon admission, Reveille had an issued share capital of 79,900,000 ordinary shares and an initial market capitalisation of approximately £4.0 million. Zenith holds 20,180,000 ordinary shares, representing approximately 25.26% of Reveille's issued share capital, and also holds 18,052,500 warrants over ordinary shares in Reveille with exercise prices ranging from 5 pence to 10 pence per share. Zenith's entire shareholding is subject to a voluntary 12-month lock-in. The company projects that Reveille has the potential to become one of Europe's most important uranium exploration stories and looks forward to supporting its continued growth. Reveille's shares closed at a multiple of the IPO price following the first day of trading.
ICSID Tribunal Issues Final Award
(LON: AST) Ascent Resources Plc announced that the Arbitral Tribunal constituted under the International Centre for Settlement of Investment Disputes (ICSID) has issued its unanimous Award dated 7 July 2026 in the arbitration between Ascent Resources Plc and Ascent Slovenia Ltd v. Republic of Slovenia (ICSID Case No. ARB/22/21). The Tribunal denied all of the Respondent's (Republic of Slovenia) jurisdictional objections and confirmed its jurisdiction over the totality of the Claimants' claims under the Energy Charter Treaty. All of the Claimants' claims under Articles 10 and 13 of the ECT, as well as their claim for compensation, were denied. The Claimants (Ascent Resources Plc and Ascent Slovenia Ltd) are required to pay the Respondent the sum of EUR 3,000,000 in respect of the Respondent's own costs, and the parties shall bear the costs of the arbitration in equal shares. The Award is final and binding on the Parties. The arbitration concerned regulatory measures affecting the Petišovci oil and gas field in Slovenia, including the 2022 amendments to the Slovenian Mining Act that introduced a ban on hydraulic stimulation. The Company is reviewing the full Award and its implications and will provide a further update to shareholders in due course and as appropriate.
Dollar Benefits as Investors Seek Safe Havens
The strengthening of the dollar amid heightened geopolitical tensions, particularly following renewed hostilities between the U.S. and Iran, is poised to exert downward pressure on oil prices. As investors flock to the dollar as a safe haven, the inverse relationship between the dollar and crude oil becomes increasingly pronounced; a stronger dollar typically translates to higher costs for oil priced in dollars, which can dampen demand from non-dollar economies. This dynamic is particularly critical given that oil demand is already facing headwinds from potential economic slowdowns in key markets, including China and Europe, which are grappling with their own economic uncertainties. Furthermore, the cessation of the ceasefire not only escalates regional instability but also raises the specter of supply disruptions, particularly in the Strait of Hormuz, a vital chokepoint for global oil shipments. However, the immediate market reaction may be muted as traders weigh the risks of supply constraints against the backdrop of a stronger dollar and potential demand erosion. OPEC's production strategies will also come under scrutiny as they navigate these turbulent waters, balancing the need to stabilize prices while responding to shifting demand dynamics. In this context, the broader macroeconomic picture suggests that while short-term volatility may increase, the underlying fundamentals of supply and demand will ultimately dictate price trajectories. Investors should remain vigilant, as any escalation in geopolitical tensions could lead to sudden price spikes, but the prevailing dollar strength indicates a cautious outlook for oil in the near term. Thus, the interplay between geopolitical developments and currency fluctuations will be a critical factor in shaping the energy market landscape moving forward.
Bond Yields Jump as Surging Oil Prices Spark Renewed Inflation Fears
Surging oil prices are reigniting inflation fears, which in turn are driving bond yields higher, a dynamic that has profound implications for energy markets. As geopolitical tensions in the Middle East escalate, the risk premium on oil is increasing, pushing prices upward and amplifying concerns about sustained inflationary pressures. Higher oil prices typically lead to increased transportation and production costs, which can ripple through the economy, affecting everything from consumer goods to industrial output. This inflationary backdrop complicates the Federal Reserve's monetary policy, potentially leading to more aggressive interest rate hikes to combat rising prices. Such a scenario could dampen economic growth and reduce demand for oil, creating a volatile environment for energy investors. Furthermore, if bond yields continue to rise, capital may flow out of riskier assets, including equities and commodities, as investors seek safer returns. The interplay between oil prices and inflation expectations will be crucial in shaping market sentiment; if oil prices remain elevated, we could see a sustained period of volatility across energy markets. Additionally, OPEC's response to these price movements will be critical; if they decide to adjust production levels to stabilize prices, it could either exacerbate inflation or help to temper it, influencing global supply dynamics. In this context, energy investors must remain vigilant, as the interconnectedness of oil prices, inflation, and monetary policy will dictate market trends in the coming months.
European Stocks Close Sharply Lower in Wednesday Trading; Oil Prices Spike as US-Iran War Reignites
The resurgence of conflict between the US and Iran has sent oil prices soaring, reflecting heightened geopolitical risk that directly impacts supply dynamics in an already volatile market. As tensions escalate, fears of potential disruptions to oil flows from the Middle East, a critical artery for global crude supply, are driving prices upward. This spike is not merely a reaction to immediate events; it signals a broader concern among investors about the stability of oil production in the region, particularly given Iran's significant role as a producer and its strategic positioning in the Strait of Hormuz. The market is acutely aware that any military escalation could lead to sanctions or military actions that disrupt not only Iranian exports but also those of neighboring countries. Additionally, European stocks closing sharply lower indicates a risk-off sentiment among investors, which often correlates with rising oil prices as energy becomes a safe haven amid uncertainty. The interplay between geopolitical tensions and economic stability is critical, as higher oil prices can exacerbate inflationary pressures in Europe, potentially leading to reduced demand for oil in the longer term. Furthermore, OPEC's ability to manage supply in the face of such disruptions will be tested, as member countries balance their production strategies with the need to maintain price stability. The market will be closely monitoring any diplomatic efforts to de-escalate tensions, as the outcome will significantly influence both short-term price movements and long-term supply forecasts. In this context, the energy market is poised for heightened volatility, with investors needing to navigate the dual challenges of geopolitical risk and economic uncertainty.