The M&E Dispatch // 073

Hello Everyone,

It’s becoming harder to separate resource hype from resource readiness.

This past week, NioCorp presented its Elk Creek project to EU investors, a signal that Europe is no longer browsing. It’s buying. And fast.

With trade tensions climbing (again), tariffs shifting (again), and critical minerals now a matter of national security, Canada is being looked at not just as a partner, but as a supplier. The question is: who’s actually ready to deliver?

What “Export-Ready” Actually Means

To move from headline to shipment over the next 24–36 months, a company needs more than a good hole in the ground.

It needs:

• A defined resource with economic scale and grade

• A completed PFS or DFS

• Permitting that’s real, not theoretical

• Access to processing, ideally not on another continent

• Logistics that work in winter

• And most importantly, a buyer who's already interested

Otherwise, it’s just another promising story without a port.

Companies Closing the Gap

Here are a few names that are building both resource and pathway:

🟢 NioCorp (Elk Creek, Nebraska) – Critical minerals (niobium, scandium, REEs).
Just presented to EU investors on May 16. DFS stage. U.S.-based but looking to supply Europe.

🟢 Patriot Battery Metals (Corvette District, Quebec) – Lithium.
Largest indicated lithium resource in the Americas. Backed by drilling and scale.

🟢 Northisle (Vancouver Island, BC) – Copper-gold.
Upgraded to OTCQX to improve U.S. access; pushing forward a C$2B NPV project.

🟢 Avalon Advanced Materials (Separation Rapids, Ontario) – Lithium + rare earths.
Resource just upgraded by 28%. Targeting vertical integration.

🟢 E3 Lithium (Alberta) – DLE lithium extraction, backed by Imperial Oil.
Pilot project complete. Looking to be among Canada’s first lithium producers.

Europe isn’t just asking for promises, it’s looking for shipments.
If you’re in the boardroom, and your export plan is still a PowerPoint (presentation-final.FINAL.THISONE.ppt) then you really need to just adopt it and start smashing some holes in the ground. It’ll never be perfect, but progress is perfect.

For investors, it's time to shift from "what's in the ground" to "who can move it."

And for mining and energy companies building infrastructure, this is your time.

If you’ve got something of value and the means to get it moving, the world is listening.

There’s still time, but not much of it.

// The Dirt

Nicola Mining Begins Gold-Silver Production with Talisker Ore
Ore processing has begun at the Nicola facility near Merritt, BC, marking a key milestone for gold and silver throughput.
Read more →

i-80 Gold Closes US$173 Million Bought Deal Public Offering
The sizeable raise reinforces ongoing development at producing Nevada assets.
Read more →

NioCorp Secures $200M Expression of Interest from UK Export Credit Agency
The backing supports Elk Creek’s position in global supply chains for niobium and other critical minerals.
Read more →

Rock Tech Receives €150M Support for Guben Lithium Converter
Conditional export finance from UK and Finnish agencies signals strong backing for this EU battery materials hub.
Read more →

DynaResource Reports 250,000 oz High-Grade Gold Reserve in Mexico
New reserve estimate at San Jose de Gracia positions the asset as a meaningful near-term producer.
Read more →

Apollo Silver Expands Calico Project by 285%
The California-based silver project adds significant new ground ahead of potential production ramp-up.
Read more →

Patriot Battery Metals Upgrades Lithium Resources by 30–306%
With CV5 and CV13 now among the largest indicated lithium pegmatite deposits in the Americas, this upgrade impacts future production scaling.
Read more →

Northern Graphite Weighs in on U.S. Tariffs on Chinese Graphite AAM
With tariffs as high as 721%, this ruling could dramatically alter global graphite trade flows and benefit North American producers.
Read more →

Anfield’s Velvet-Wood Uranium Mine Fast-Tracked by U.S. Government
The Department of the Interior places the project on an expedited permitting track—one step closer to domestic uranium supply.
Read more →

Midland Begins Gold Exploration in Baie James
Though early stage, this James Bay campaign could tie into Quebec’s long-term gold production roadmap.
Read more →

Well, that’s it for today.
I’m keen to keep an eye on who’s building actual capacity and not just hype. So if there’s something on the horizon for your company, hit reply and tell me about it.

Until then, enjoy that May Long recovery week.
(And if you’re still sore from posthole digging… same.)

- Lee