Mentioned:
The United States of America and Canada are bringing their governments together to fund a promising critical minerals project in the Yukon. But, why?
What’s happening:
- Fireweed Metals (TSXV: FWZ) has officially been awarded funding from the United States Department of Defense and the Government of Canada to accelerate the development of their critical mineral projects located in Macmillan Pass, Yukon Territory
By the numbers:
- The United States Department of Defense will provide approximately $22.5M USD in funding to Fireweed Metals and the Government of Canada will provide up to $12.9M CAD in funding
Why it matters:
- Fireweed Metals owns the highly promising Macpass District, which contains one of the world’s largest deposits of zinc as well as significant amounts of germanium, gallium and tungsten
Going deeper:
- Germanium and gallium have come into focus in the public markets due to the recent banning of all exports from China, which has led to a scramble to find new domestic supply sources
- Legendary Canadian mining entrepreneurs the Lundin family are the largest shareholders of Fireweed Metals and they have continued to be the lead investors in multiple major financing rounds
The intrigue:
- Lundin Mining (TSX: LUN) has been seeing their revenues nearly hit new all time highs amidst a rally in both copper and gold prices