The M&E Dispatch // 082

Hello Everyone,

I’ve spent the last few weeks tracking ceasefires, oil spikes, defence pacts, and a very awkward game of “who’s allied with who, exactly?” being played across continents.

Between Iran and Israel signing a truce with one hand and rearming with the other, Russia quietly enjoying higher oil revenue while Ukraine holds the line, and Canada inserting itself into the global defence conversation for the first time in decades, there’s a lot happening.

And here’s the part that should matter to you: every one of these developments has a thread that runs straight through the Canadian resource sector. Energy. Uranium. Critical minerals. Permitting. Pipeline politics. It’s all connected. And it’s all accelerating.

So let’s break this down, not with panic, but with purpose.

Where Things Stand Globally

Middle East (Iran–Israel–U.S.)

• After 12 days of strike-and-retaliate, Iran and Israel have entered a ceasefire… the kind that holds until it doesn’t.

• Oil markets are responding like it’s 1973 again. Brent is flirting with $80… and then plummeting.

• The Strait of Hormuz is now every shipping insurer’s nightmare.

• The U.S. is playing referee, well linesman really, but even linesmen get roughed up in the scrum.

Ukraine–Russia

• Russia’s energy sales are financing the war. Ukraine is still holding thanks to allies like Canada.

• Sanctions have teeth, but not enough molars. The ruble shrinks, but oil keeps flowing.

• Canada continues military support through Operation UNIFIER and maintains firm sanctions, both symbolic and strategic.

Canada’s Role

• Canada and the EU signed a defence cooperation agreement that’s more than ceremonial. It’s a pivot, away from sole U.S. reliance, toward European collaboration on tech, energy, and procurement.

• Ottawa is speaking softly on the Middle East but quietly boosting uranium and critical mineral messaging on the back end.

• We’re in the room. Maybe not at the head of the table, but we’re not holding coats anymore.

Here’s What I Think We’re Going to See

30 Days // The Price Pop & Positioning Phase
We’re not in “crisis” mode, but markets are pricing in the possibility of one. Oil is up. Uranium’s on deck. LNG producers are already fielding calls.

This is the phase where smart operators dust off expansion plans. Developers with projects under 36 months to shovel-ready status? They’re the new prom dates. The market is jittery, but that creates openings for those who can move without needing three committee meetings to do so.

60 Days // The Realignment Gets Real
Canada’s EU defence pact will begin taking form. Not flashy, but foundational. Expect early-stage project briefings, quiet visits from trade officials, and “exploratory” inquiries that are anything but casual.

Lithium, nickel, cobalt, and especially uranium will be viewed less as commodities and more as strategic levers. If you’re an operator in these areas, it’s a good time to look polished. If you’re an investor, keep your eyes on which juniors suddenly get more polished for you.

90 Days // The Sanctions Squeeze & Supply Chain Shuffle
By this point, Russia’s going to use whatever levers it has left. Gas restrictions. Shipping delays. Export halts. Europe scrambles. The U.S. grumbles. And Canada? We get busier.

Expect pressure to accelerate permitting for Canadian projects, especially LNG, nuclear, and battery-grade minerals. If Ottawa can push fast enough, this becomes a competitive moment. If not, we’re just spectators with nice rocks in the ground.

180 Days // The Reckoning, or the Windfall
Six months from now, we’ll know which path we’ve taken. Either Canada becomes a core global resource provider, the kind countries build policies around, or we become another case study in missed opportunity.

Permitting reform, interprovincial collaboration, First Nations partnership frameworks, those are the deciding factors. If we solve them, we don’t just survive this global instability. We lead through it.

Good news is it’s all happened before.

While History Doesn’t Repeat…
It Sure as Heck Can Rhyme

I’m a Cold War kid. Born in ’82. Grew up watching mushroom cloud diagrams in textbooks and nuclear war dramatizations on afterschool TV. We were raised to know that global politics could, at any moment, go sideways. And somehow, we turned out mostly normal, plus or minus a few conspiracy theories and a lasting addiction to canned ravioli (it really was better back then! It’s shit now, Line Cook Boyardi…)

But what we’re seeing now isn’t new, it’s a remix of past eras

• 1973 Oil Crisis → Global supply shock → Canada becomes vital by accident. Sound familiar?

• Cold War Pivot to Europe → NATO, uranium, shared defence industries. History repeats, with better fonts.

• The Nuclear Boom of the ‘70s–80s → Uranium output soars, Saskatchewan becomes the unexpected MVP. They still have the trophy on their mantel.

This is our time to rhyme! We have the foresight to see it before it becomes a history chapter.

// The Dirt

Definitive Feasibility Study Completed for K.Hill Manganese Project
Giyani Metals has finalized its DFS for the Botswana-based battery-grade manganese project, targeting a 2027 start for production.
Read more → https://www.giyanimetals.com/news/giyani-metals-corp-completes-definitive-feasibility-study-for-khill-battery-grade-manganese-project

Snowline Gold Hits 1.85 g/t Au Over 453.0m at Rogue Project
An impressive intercept at the Valley Zone suggests strong bulk-tonnage potential.
Read more → https://snowlinegold.com/news/snowline-gold-reports-185-gt-au-over-4530-m-including-203-gt-au-over-2725-m-from-2024-drilling-at-valley-zone-rogue-project

North Arrow Acquires Lithium Project in NWT
The new Falcon pegmatite project expands North Arrow's footprint in Canada’s North.
Read more → https://www.northarrowminerals.com/news-releases/news-releases-details/2024/North-Arrow-Acquires-Falcon-Lithium-Project-in-Northwest-Territories/default.aspx

Tier One Silver Begins Drilling at Hurricane Project
Initial drilling at this new target in Peru aims to test for silver-copper mineralization at depth.
Read more → https://www.tieronesilver.com/news-media/news-releases/tier-one-silver-commences-drilling-at-the-hurricane-project-in-southern-peru

Integra Resources and ATAC Resources Merger Finalized
The transaction strengthens Integra’s gold-silver development pipeline in Idaho and Nevada.
Read more → https://www.integraresources.com/news/2024/integra-announces-closing-of-acquisition-of-atac-resources-ltd/

Mayfair Gold Reports 4.04 g/t Au Over 34.0m
Drilling at the Fenn-Gib project continues to define high-grade gold zones in Timmins, Ontario.
Read more → https://www.mayfairgold.ca/news/mayfair-gold-drills-404-gt-gold-over-340-metres-in-fenn-gib-west-drill-program

Clean Air Metals Provides Thunder Bay North Update
Preliminary mining and processing plans outlined as part of advancing the palladium-platinum-copper-nickel project.
Read more → https://cleanairmetals.ca/news-releases/clean-air-metals-provides-preliminary-economic-assessment-update-for-thunder-bay-north-project/

Osisko Development Closes CA$55M Bought Deal
Funds will support advancement at the Cariboo Gold Project and other assets.
Read more → https://osiskodev.com/news/osisko-development-announces-closing-of-55000000-bought-deal-public-offering-of-units

Hercules Silver Confirms Porphyry Copper Discovery
New assays support a major copper system at the Leviathan Zone in western Idaho.
Read more → https://herculessilver.com/news/hercules-silver-announces-discovery-of-porphyry-copper-mineralization-in-western-idaho

Atlas Lithium Ships Additional Lithium Sample to U.S. Partner
Another 1.5-tonne lithium-bearing shipment delivered from Brazil’s Neves Project.
Read more → https://atlascorporate.com.br/news/atlas-lithium-announces-shipment-of-additional-1.5-tonne-sample-to-us-partner

There’s opportunities in all this for Canadians.

If you're in the Canadian energy or mining sectors, you're no longer just operating projects. You’re holding the keys to geopolitical resilience.

The only question is whether we realize it in time.

As I sit here, sipping my 2nd morning coffee, President Trump just dropped an F-Bomb on live TV to a reporter. I’m here for it, more F-Bombs and less real bombs is what we need right now.

- Lee