The M&E Dispatch // 080

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Hello Everyone,

According to Google Maps I am 157kms away, as the crow flies, from the biggest meeting on a global scale to be taking place. Yet, in this little corner of the Province I couldn’t feel more detatched from the biggest conflicts - except when I put gas in my old Ford.

These past few hours/days have been a bit of a shit show to say the least and I fear Old Grey will be drinking a bit less of the gas this summer.

With Trump’s arrival and sudden departure from G7 I feel it prudent to talk about what is going on as it has, and will continue, to affect all of our lives.

Current State of the Conflict

• Iran and Israel have now entered the fifth consecutive day of strikes. Israel has conducted air raids on Iran’s nuclear and military installations—including Natanz, Fordow, and South Pars gas facilities—while Iran has launched missile and drone attacks into Israel, damaging sites in Tel Aviv and Haifa and even impacting the U.S. Embassy in Tel Aviv

• Iran’s tactical response includes potential targeting of U.S., U.K., and French military assets, with increased regional tension fuelled by threats to withdraw from the Non-Proliferation Treaty

President Trump issued dire warnings via Truth Social and X:

He left the G7 summit prematurely amid reports of strategic coordination and U.S. military repositioning to back Israel

🛡️ Repositioning U.S. Military Assets

• The U.S. is deploying aircraft carrier USS Nimitz and dozens of aerial refuelling tankers towards the Middle East to reinforce military posture amid increased threats

This escalates the risk of direct U.S. involvement, making geopolitical risk modelling essential for energy and logistics planning.

Maritime Incident: Tankers on Fire

• On June 17, two large oil tankers—the Liberian-flagged Front Eagle and Antigua-Barbuda-flagged Adalynn—collided and caught fire near the entrance of the Strait of Hormuz, approximately 15–17 nautical miles off Fujairah, UAE

• All 24 crew members were safely evacuated. The incident appears to be due to navigational issues, though it's happening amid a backdrop of electronic interference in navigation systems, raising concerns

• There are also unverified reports of up to three ships on fire in the Gulf of Oman—likely related to this collision, but the situation remains unconfirmed.

Energy & Shipping Implications

1. Risk to Key Chokepoint: With the Strait of Hormuz responsible for roughly 20% of global oil and LNG exports, any disruption—whether actual or perceived—ripples across energy markets .

2. Rising Insurance & Risk Costs: Even if this was an ordinary maritime accident, the fact it occurred amid conflict raises costs and reduces navigational safety. Shipping firms face growing insurance premiums and the risk of rerouting.

3. Heightened Market Volatility: Oil prices spiked after the initial news and have remained elevated, thanks to both conflict and the tanker incident .

4. Iran’s oil exports have plunged from ~1.7 M bpd to around 100,000 bpd, and production at South Pars (80% of its gas output) has been partially suspended .

• The Israel–Iran exchange isn't at flashpoint—yet. But it's intensifying, with potential to draw in third parties or impact broader geopolitics.

• The tanker fire—technically a collision—still injects uncertainty into one of the world’s most vulnerable maritime corridors.

• That uncertainty now shows up in insurance premiums, inventory hoarding, and energy price volatility.

• Logistics Risk: If you rely on Middle Eastern energy or shipping routes, now’s a good time to reassess costs and contingency plans.

• Price Watch: Oil volatility might compress margins on projects pegged to energy prices.

• Infrastructure Imperative: For those investing in Arctic—or otherwise uncontrolled—export routes, this is another reminder: we need alternatives.

… I hope cooler heads can prevail in the blistering heat of the desert.

// The Dirt

West High Yield Provides Midnight Gold Project Update
Bulk sample permit received and trenching expected to begin imminently at the Midnight Project in British Columbia.
https://www.thenewswire.com/press-releases/1AkXH7erJ-west-high-yield-w-h-y-resources-ltd-provides-update-on-the-midnight-gold-project.html

Grid Battery Metals Kicks Off Phase 2 Drilling in Nevada
The Clayton Valley Lithium Project begins the next phase of drilling with 5–8 holes planned targeting lithium brines.
https://www.thenewswire.com/press-releases/1AkXH7XMb-grid-battery-metals-inc-announces-commencement-of-phase-2-exploration-drill-program-at-the-clayton-valley-lithium-project-nevada.html

Dundee Reports 1.93% Nickel Over 6m at Cline Lake
A new mineralized intercept near historic workings suggests expansion potential for the Ontario-based nickel target.
https://www.globenewswire.com/news-release/2024/09/25/2753752/0/en/Dundee-Sustainable-Technologies-Reports-Drill-Results-Including-1-93-Ni-over-6-0-m-and-3-29-Ni-over-1-5-m-at-the-Cline-Lake-Nickel-Property.html

Atomic Minerals Expands Harts Point Uranium Footprint
The company has increased its land position by 2,698 acres, reinforcing its commitment to uranium in southeast Utah.
https://www.newsfilecorp.com/release/183994/Atomic-Minerals-Announces-Expansion-of-the-Harts-Point-Project

Orano and Fission Uranium Begin Drilling at PLS
A new three-rig, 10,000m program targets resource growth and definition drilling at the Patterson Lake South Joint Venture.
https://fissionuranium.com/news/fission-and-orano-launch-10000m-jv-drill-program-at-162942/

Arizona Sonoran Signs Water Supply Agreement
A 50-year water deal with New Magma Irrigation and Drainage District supports the Cactus Project development.
https://arizonasonoran.com/news-releases/arizona-sonoran-signs-50-year-water-supply-agreement-supporting-cactus-project-development/

Champion Iron Appoints Andrew Michelmore as Chair
The mining veteran and former CEO of MMG takes over from Michael O’Keeffe to lead the board of the Quebec iron ore producer.
https://www.championiron.com/news/champion-iron-appoints-andrew-michelmore-as-chair-of-the-board/

Grizzly Advances 2024 Drilling Program in Alberta
The company is reviewing and interpreting historical core from its greenstone-hosted gold project at Greenwood.
https://grizzlydiscoveries.com/news/2024/grizzly-advances-2024-exploration-program/

Power Nickel Consolidates Land at Nisk Project
Additional claims secured near James Bay give the company a more cohesive footprint to support future resource growth.
https://powernickel.com/news/power-nickel-acquires-additional-claims-at-nisk-project

F3 Uranium Intersects 8.0m of 3.54% U₃O₈ at PLN
The high-grade hit from drill hole PLN24-130 continues a trend of strong mineralization from the JR Zone.
https://f3uranium.com/news-releases/f3-uranium-reports-8.0m-of-3.54-u3o8-including-2.0m-of-13.7-u3o8-from-drill-hole-pln24-130-at-pln/

That’s it for me today, going to go finish building my fence and get the house ready for this weekend. Time to put it on the market, though I’m still not sure if that’s to find renters or to sell it. Current affairs are playing into that decision for sure.

Have a great week all,

- Lee

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