Author: TSX Stocks

 Gulf Network

Sayward Capital Corp., a capital pool company listed on the TSX Venture Exchange (TSXV), has announced the signing of a definitive share exchange agreement with Technosteel Construction, a leading structural steel firm based in the UAE. This milestone transaction represents a historic first for Canadian capital markets, marking the debut of a UAE-headquartered operating company on a Canadian stock exchange.

Signed on March 26, 2025, the agreement outlines the terms of Sayward’s Qualifying Transaction in accordance with TSXV Policy 2.4. Upon completion, the resulting issuer is expected to be named Technosteel Corp. The transaction will be accompanied by a private placement of up to US$4 million, which will be used to support Technosteel’s continued expansion, automation initiatives, and general working capital requirements.

Founded in 1992, Technosteel has established itself as a dominant force in structural steel fabrication and erection across the UAE and the broader Middle East. The company has delivered more than 86 major projects, including iconic developments such as the Princess Tower, the Ferrari and Maserati Showroom, and the Abu Dhabi Link Bridge.

With a monthly installation capacity of 2,000 tons and a workforce exceeding 1,200 employees, Technosteel serves an expansive clientele spanning governmental bodies, private developers, and multinational corporations.

“This is more than a transaction—it’s a transformation. We’re proud to take a homegrown UAE engineering leader to the global capital stage. The TSXV listing will accelerate our expansion plans, drive innovation in construction automation, and open new frontiers for investor and client engagement across Canada, the GCC, and beyond,” said Shyamrup Roy Choudhury, who will serve as CEO of the resulting issuer.

Dr. Ahmed Abdul Rahman Albanna, Co-Managing Director of Technosteel, added, “This milestone is not only a first for Technosteel, but for the UAE. For the first time in history, a UAE operating company will be listed on the Canadian stock exchange. It’s a moment of immense pride for our nation and testament to the maturity, credibility, and global ambition of UAE enterprises. We are honoured to carry that flag.”

Under the agreement, each Technosteel share will be exchanged for 711.11111 common shares of Sayward. The post-transaction leadership team will include Shyamrup Roy Choudhury as Chief Executive Officer and Director, Aaron Meckler as Chief Financial Officer, and board members Dr. Ahmed Abdul Rahman Albanna, Dana Ahmed Albanna, and Chittransh Verma.

Image Source: Pixabay

You should be looking at the technology metals, sometimes called minor metals, strategic materials, and critical materials. Don’t confuse them with Rare Earth Metals. These include such elements as Gallium, Germanium, Hafnium, Indium, and Rhenium, and are essential for:

• Semiconductors,
• Solar panels,
• Aerospace components,
• Telecommunications,
• Batteries and energy storage.

Technology metals are a group of elements critical to modern, high-tech industries. They are essential for manufacturing advanced electronics, semiconductors, telecommunications equipment, renewable energy systems, and aerospace components. Unlike base metals (like copper or iron), technology metals are typically used in small quantities but enable key functions in cutting-edge devices, including smartphones, solar panels, electric vehicles, fiber optics, and jet engines. Their strategic importance stems from limited supply chains, specialized extraction, and the lack of viable substitutes in many applications.

Industrial Uses of Five Key Technology Metals

Gallium
Gallium is primarily used in semiconductors, especially in the compound gallium arsenide (GaAs), which is essential for high-speed electronics, solar cells, and LEDs. It also plays a key role in 5G networks, radar systems, and satellite communications. Gallium is not mined directly—it is typically extracted as a byproduct of aluminum or zinc processing. Since Jan 2020 Gallium is up over 235%.

Germanium
Germanium is crucial in fiber optics, infrared optics, and semiconductor technology. It’s used in photodetectors, thermal imaging devices, and solar panels (especially in space applications). Germanium is also added to alloys to improve conductivity and corrosion resistance. Like gallium, it’s a byproduct—mainly from zinc refining. Since Jan 2020 Germanium is up over 110%.

Hafnium
Hafnium is used in nuclear reactors due to its ability to absorb neutrons without swelling or becoming brittle. It’s also vital in the aerospace industry, where it improves the heat resistance of superalloys used in jet engines and space vehicles. In microelectronics, hafnium oxide is used as a high-k dielectric material in advanced transistors, enabling smaller and faster computer chips. Since Jan 2020 Hafnium is up over 169%.

Indium
Indium is best known for forming indium tin oxide (ITO), a transparent conductor used in touchscreens,LCDs, solar panels, and smartphone displays. It’s also used in low-melting solders and thermal interface materials. Indium is rare and primarily obtained as a byproduct of zinc mining, making its supply vulnerable to fluctuations in base metal markets. Since Jan 2020 Indium is up over 135%.

Rhenium
Rhenium is a rare and heat-resistant metal used mainly in superalloys for jet engine turbines and rocket components, where it enhances strength at high temperatures. It’s also used in platinum-rhenium catalysts for refining high-octane gasoline. Due to its extremely high melting point and scarcity, rhenium is both strategic and expensive, often recycled from spent catalysts and alloy scrap. Since Jan 2020 Rhenium is up over 69%.

Technology Metals Stocks

There are several publicly traded companies involved in the mining and production of technology metals such as gallium, germanium, hafnium, indium, and rhenium. While few companies focus exclusively on these metals, many extract them as byproducts of other mining operations or are expanding into these areas due to increasing demand.

Publicly Traded Companies Involved in Technology Metals

1. RIO TINTO (RIO)

Rio Tinto is a global mining giant that has recently ventured into gallium production. In collaboration with Indium Corporation, they successfully extracted their first primary gallium at Indium Corp’s R&D facility in New York. The project aims to scale up gallium production to pilot levels, with plans to produce up to 40 tonnes annually at their Quebec refinery, potentially contributing 5%-10% of the global supply. 

The company has a $97.3 billion market cap, trades at 8.5 times trailing earnings, and a 6.72% forward dividend yield.

2. MTM CRITICAL METALS (MTMCF)

An Australian company, MTM Critical Metals has achieved a breakthrough in recovering gallium and germanium from semiconductor industry waste. Their proprietary FJH technology has achieved recovery rates of approximately 90% for gallium and 80% for germanium, positioning them as a potential key player in sustainable sourcing of these critical materials.

3. MP MATERIALS (MP)

MP Materials owns and operates the Mountain Pass mine, the only operating rare earth mine and processing facility in the United States. While their primary focus is on neodymium-praseodymium (NdPr) used in magnets for electric vehicles and wind turbines, their operations also yield other rare earth elements that are critical in various high-tech applications. 

The company has a $3.8 billion market cap, and is currently generating negative earnings.

4. Teck Resources Ltd (TECK)

Teck Resources Ltd, traded on the Toronto Stock Exchange (TSX) under the symbols TECK.A and TECK.B, and on the New York Stock Exchange (NYSE) under the symbol TECK, is a prominent Canadian resource company. The company stands as one of the world’s largest integrated producers of germanium. Teck Resources processes germanium-bearing concentrates at its fully integrated lead/zinc refinery situated in Trail, British Columbia. Through this established refining process, Teck Resources has solidified its position as a significant and primary producer of germanium within the global market. 

The company has a $16.7 billion market cap, a very high price to earnings ratio of 675, and a forward dividend yield of 1.03%.

5. Tronox Holdings plc (TROX)

Tronox Holdings plc, traded on the New York Stock Exchange (NYSE) under the ticker TROX, is a leading global producer of high-quality titanium products, which includes titanium dioxide pigment, specialty-grade titanium dioxide products, high-purity titanium chemicals, and notably, zircon. Tronox engages in the mining of titanium-bearing mineral sands and operates upgrading facilities to produce various high-grade materials. The company reports a substantial zircon production capacity of 117,000 metric tons per year from its operations located in Australia. Similar to Iluka Resources, Tronox’s significant production of zircon establishes it as a primary miner of hafnium, given the consistent association of hafnium with zircon within mineral sands deposits. The company has a market cap of $775 million, is generating negative earnings, and has a forward dividend yield of 9.42%.

6. Adex Mining Inc. (ADXDF)

Adex Mining Inc, traded on the TSX Venture Exchange (TSX-V) under the symbol ADE and over the counter [OTC] as ADXDF, is a mining exploration company actively engaged in the development of its Mount Pleasant Mine property located in Canada. The Mount Pleasant deposit is recognized as “North America’s largest tin deposit and the world’s largest reserve of indium”. While Adex Mining’s exploration activities target tin, zinc, molybdenum, and tungsten in addition to indium, the sheer scale of the indium reserves at its flagship project strongly suggests a primary focus on the potential mining of this technology metal, although the project is currently in the exploration and development phase. This is a $4.9 million micro cap, micro penny stock.

7. Northern Dynasty Minerals Ltd. (NAK)

Northern Dynasty Minerals Ltd, listed on the Toronto Stock Exchange (TSX) under the symbol NDM and on the NYSE American under the symbol NAK, is a mineral exploration and development company primarily focused on the Pebble Project in Alaska. The Pebble deposit is reported to contain a significant resource of rhenium, in addition to substantial quantities of copper, gold, molybdenum, and silver. In fact, the Pebble Project has been described as hosting the world’s most significant rhenium resource. While the Pebble Project is currently in the development phase and is subject to regulatory processes, the immense rhenium resource it holds positions Northern Dynasty Minerals as a potential primary miner of rhenium in the future, should the project proceed to operation. The company has a $568 million market cap and is currently generating negative earnings.

If you are looking for an ETF, VanEck Rare Earth/Strategic Metals ETF (REMX) is an ETF that provides exposure to companies involved in producing, refining, and recycling rare earth and strategic metals globally. 

Technology metals are a high-potential but niche investment category, driven by growing demand from semiconductors, clean energy, and aerospace, yet constrained by limited supply and geopolitical risk. This industry is well worth taking a closer look.

Source for metals returns: https://strategicmetalsinvest.com/current-strategic-metals-prices/

Please note: Many of the above stocks are penny stocks and should be considered extremely speculative.

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That’s the finding of a paper recently published in the prestigious journal Harvard Business Review (HBR) by a team of interdisciplinary researchers from the University of Saskatchewan’s (USask) Edwards School of Business and the University of Calgary’s Haskayne School of Business.

“We identified a new risk to AI we call encroachment risk—the novel idea that AI can encroach on the power and influence of strategic roles and pose an organizational risk,” said co-author Dr. Vince Bruni-Bossio (PhD), associate professor at Edwards and USask’s acting provost and vice-president academic.

The team conducted extensive interviews over 2 ½ years with chairs of 27 large companies listed on the Toronto Stock Exchange, delving into how board processes work, how these experienced leaders exercise their power, and how AI affects that process.

“We never predicted what the final article would be, from the beginning. It kind of moulded itself through these discussions,” said Bruni-Bossio. “We’re very excited because of where it landed.”

The team focused on board chairs as a case study, but the findings broadly apply to any strategic corporate role, said Edwards professor and co-author Dr. Devan Mescall (PhD).

“When we got down to the details, we realized that the chairs’ tasks are multifaceted,” he said. Other team members and co-authors are Edwards professor Dr. Regan Schmidt (PhD), and Haskayne professor Dr. Anup Srivastava (PhD).

“One of the really fascinating things is tasks like setting meeting agendas, establishing committees and summarizing board discussions at first seem pretty mundane, and something AI can do easily,” Mescall said. “But then you realize that in the hands of a human, those are used as judgments, and there’s thought put into it that influences others around the table. That’s the epiphany.”

For instance, a chair can manage the board meeting agenda to shape the flow of conversation, exercise behind-the-scenes influence to guide how information is presented, and set the tone for a meeting. The role also involves ensuring that board members have the right mix of experience to be effective, and the skillset to read the room, synthesize discussions, and reframe issues to shape how directors understand issues and reach conclusions.

These are considerations beyond the capabilities of an automated AI application, the authors suggest. Keeping these power-conduit tasks in mind, corporate leaders should establish clear policies for where AI can be used, and where human oversight must be maintained, according to the paper.

“By identifying key strategic roles and power-conduit tasks, as well as fencing AI involvement, board chairs can strike a balance between technological advancement and effective governance. The goal should not be to resist AI but to integrate it in a way that preserves leadership influence and strengthens the board chair’s strategic objectives,” the team wrote.

They chose to pitch to paper to the Harvard Business Review, where it’s tough to get published, because the journal focuses on what’s most important to busy C-suite executives who have little time, said Mescall.

“We thought ours was a novel and practical look at AI, and how organizations are using AI to replace tasks. It seems a new idea that there’s something more to tasks than can we replace them with AI, to should we do that. It’s a big enough question, so we took a shot at HBR and they agreed.”

“It’s great for USask to be at the front edge of the topic in a leading journal,” said Bruni-Bossio. “Our interdisciplinary work is fun and very exciting, and important for the mission of being the university the world needs.”