The M&E Dispatch // 109

Hello Everyone,

Canada is on the move this week, with the United Arab Emirates, a rising global trade player, negotiating a deal to double bilateral trade. The goal is to grow from C$3.5 billion to C$7 billion in cross-border flow, putting Canadian resources, know-how, and innovation on the world stage.

As we diversify beyond our longtime reliance on the US (our southern neighbor now takes just 68% of our exports, down from 80%), deals like this bring promise, not just for growth, but for a more resilient, future-ready Canadian economy.

But here’s a little tongue-in-cheek reality check: Are we ready to establish trade at this level with a country that has yet to field an Olympic hockey team? It’s a friendly reminder that partnerships aren’t just about numbers, they’re about bridging worlds (sometimes, very different ones). Critics have raised concerns about infrastructure, logistics, and, yes, some ethical considerations.

Optimism means having our eyes open. As Canada leans into new marketplaces, we bring more than commodities, we bring our values, our grit, and our signature reliability. This pact, if it lands, signals our readiness to push further, but it’s also fair for Canadians to ask: what does real partnership require, and how do we set the bar?

It’s an exciting phase, but one best entered with energy and a dash of Canadian self-reflection. Perhaps we should make sure hockey is one of the first things we export there. Someone get CCM on the phone...

// The Dirt

🔥 Top 3 Headlines to Watch

🪙 Aero Energy & Fortune Bay — commenced summer drilling at the Murmac Uranium Project near Uranium City, SK, testing a suite of high-priority targets.
https://aeroenergy.ca/2025/aero-energy-and-fortune-bay-announce-commencement-of-drilling-at-the-murmac-uranium-project/

🪙 NioCorp — launched a proposed U.S. public offering of common shares (or pre-funded warrants) to advance construction of the Elk Creek Project in Nebraska.
https://www.niocorp.com/niocorp-announces-commencement-of-proposed-public-offering-of-common-shares-2/

🪙 Radisson Mining — secured a $20M bought deal financing led by Cormark Securities to advance the O’Brien Gold Project in Québec.
https://www.radissonmining.com/press-releases/radisson-announces-20-million-bought-deal-financing/

// Exploration & Development Highlights

🔥 Bold Ventures — provides update on Burchell Gold Copper Project (near Thunder Bay, ON) and Ring of Fire activity, with stripping, sampling, and new geophysics underway to define drill targets.
https://www.boldventuresinc.com/news/bold-ventures-provides-update-at-burchell-gold-copper-project-and-ring-of-fire-news/

🪙 West High Yield (W.H.Y.) Resources — responds to SRRAC judicial review, affirming BC EAO’s decision not to designate Record Ridge for environmental assessment; highlights Indigenous partnership with Osoyoos Indian Band.
https://whyresources.com/2025/09/25/west-high-yield-w-h-y-resources-ltd-responds-to-srrac-judicial-review-filing-and-affirms-eao-decision/

// Financings & Market Moves

🪙 Kirkland Lake Discoveries — upsized private placement to $10M, with strong demand from lead orders.
https://www.kirklandlakediscoveries.com/post/kirkland-lake-discoveries-corp-announces-upsizing-of-private-placement-to-10m

🪙 Metalero Mining — announced $300K private placement to advance Benson Project in BC’s Quesnel Trough, following recent anomalous Cu/Au soil results.
https://metaleromining.com/announces-300000-private-placement-to-advance-benson-project/

🪙 Sienna Resources — renewed all Nevada lithium claims, including projects in Elko County and Clayton Valley, amid heightened U.S. focus on domestic supply.
https://www.siennaresources.com/2025/09/renews-all-nevada-lithium-claims-as-trump-looks-to-take-a-stake-in-lithium-americas/

// Corporate & Policy

🪙 NioBay Metals — appointed first members of its Technical Advisory Committee, adding expertise in geology, metallurgy, Indigenous relations, and niobium markets.
https://niobaymetals.com/niobay-nomme-les-premiers-membres-de-son-comite-de-conseillers-techniques/

🪙 Dynacor Group — declared October 2025 dividend of C$0.01333/share, marking its 67th consecutive payout.
https://dynacor6258.live-website.com/groupe-dynacor-declare-son-dividende-pour-octobre-2025/

🪙 TNR Gold — granted 4.9M stock options to directors, employees, and consultants at $0.08, valid for five years.
https://tnrgoldcorp.com/2025-news/tnr-gold-grants-stock-options-sept25/

// On the Horizon

Critical Minerals Financing — NioCorp’s U.S. raise and Radisson’s $20M deal show investors leaning in despite market headwinds.

Ring of Fire Resurgence — Bold Ventures’ update and provincial engagement highlight momentum building in Ontario’s north.

Lithium in the Spotlight — Sienna’s Nevada renewals underscore U.S. political attention on securing domestic EV supply chains.

// The Hustle

No games this weekend, going to take in the Kensington Market in Toronto and maybe, just maybe, a Jay’s game. Assuming I can find a set of tickets that doesn’t cost me a kidney…

Enjoy the weekend everyone,

- Lee