Lotus Technology Welcomes New Tariff Policy in Canada
Lotus Technology has "expressed significant attention and a warm welcome" to the new tariff policy announced by the Canadian government. Prime Minister Mark Carney announced that Canada will allow an initial annual cap of 49,000 Chinese electric vehicles into the Canadian market under a preferential tariff rate of 6.1%. Qingfeng Feng, Chief Executive Officer of Lotus Tech, commented: "Canada has always been a strategically vital market within Lotus' global footprint, where auto consumers possess a high appreciation for performance and driving pleasure. We extend our warm welcome to the new, optimized tariff policy, which creates a more open and fair market environment for international auto brands. Building upon our prior groundwork in the North American market, we will seize this opportunity to enhance investment in Canada to explore any potential tactical advantages and strengthen our footprint in the North American market. We are committed to pursuing growth in a disciplined manner that aligns with market development and creates sustainable value."
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Chibougamau Independent Mines Reports Major Drilling Results
- New Discovery: Drill hole TOM-25-015 reveals 5.75% ZnEq (1.34 g/t AuEq) over 98.5 meters at a depth of 451.20 meters, confirming a new semi-massive sulfide zone named Berrigan Deep, indicating significant potential for future mining operations.
- High-Grade Ore: Hole TOM-25-014 shows 28.69% ZnEq (6.73 g/t AuEq) over 2.10 meters, highlighting the area's rich mineral resources, which could attract further investment to support ongoing development efforts.
- Exploration Phase Progress: The company is currently in the initial exploration phase, and while metallurgical data is lacking, historical drilling results indicate geological complexity that may require further technical studies to optimize extraction strategies.
- Positive Market Reaction: The release of these drilling results is expected to boost investor confidence, potentially driving up Chibougamau Independent Mines' stock price, reflecting market optimism regarding its future mineral development potential.
FireFly Reports 51% Increase in Mineral Resources at Green Bay Project
- Significant Resource Growth: The mineral resource estimate for the Green Bay project has increased to 50.4Mt at 2.0% CuEq, representing a 51% increase from the October 2024 estimate, laying a solid foundation for future economic assessments.
- High-Grade Core Zone Established: FireFly has delineated a high-grade core zone of 8.8Mt at 3.9% CuEq in the Measured and Indicated categories, significantly enhancing development options and likely attracting more investor interest.
- Well-Funded for Expansion: The company completed approximately A$139 million in equity raising, which will be used to accelerate exploration and mineral resource conversion, ensuring rapid development in a favorable copper market.
- Economic Assessment Plans: A Preliminary Economic Assessment is expected to be completed by June 2026, based on the upgraded mineral resources, further advancing the project towards feasibility studies and boosting investor confidence.
