Author: TSX Stocks

JOHANNESBURG (miningweekly.com) – The outlook for platinum group metals (PGM) demand has been uplifted by a series of new developments in the field of platinum-catalysed green hydrogen generation as well as concomitant fuel cell buildouts that are green-hydrogen fed.

On top of South Korea setting out to construct the world’s largest hydrogen fuel cell power plant in the coastal city of Gyeongju, Sinopec inaugurating Hong Kong’s first public hydrogen refuelling station, and Metrans testing of Slovakia’s first hydrogen truck, Toyota UK has constructed ten quick-filling hydrogen fuel cell Hilux prototypes that have diesel-engine range, Tanaka of Japan has developed the world’s first bulk nano-sized platinum that has ten times more hardness and four times more strength, BMW is introducing hydrogen-powered tugger trains and forklifts at its digital plant in Germany, and a global coalition of industry representatives at COP29 has brightly spotlighted the major benefits of a far larger investment thrust in hydrogen fuel cells than the $75-billion already at final investment decision (FID) stage across 434 projects.

Moreover, the World Platinum Investment Council has drawn attention to:

• Le Havre, in France, being on its way to becoming a central hydrogen hub as part of a French government-backed $1.69-billion initiative involving Air Products and Qair Group.
• Electrical demand for platinum in hard disk drives (HDDs) in a cobalt, chromium and platinum alloy which forms the storage layer in HDD stacks.
• Platinum finding increasing uses in the semiconductor and sensor industries, with applications growing on the back of rising demand for AI, and, in the case of HDDs, the associated need for more data storage capacity. The AI market is projected to grow steeply to around $1.3-trillion over the next decade from a market size of $40-billion in 2022.

The biggest share of end-use platinum demand remains the automotive sector, which has a 40% pull. This is followed by platinum jewellery, which in 2024 absorbed 25% of the eight-million-plus ounces of platinum production. Glass demand takes up 8%, chemical demand 7%, investment demand 6%, medical 4%, petroleum 2%, hydrogen 1% and other 7%.

In South Africa, all speakers at the Mapungubwe Institute for Strategic Reflection’s (Mistra’s) ninth yearly PGM roundtable, on November 27, agreed that South Africa has potential to become a leading player in the hydrogen and fuel cell industry.

By developing capacities, the country can become an indispensable part of the whole hydrogen value chain from mining of minerals and beneficiation, to manufacturing and services, said Mistra executive director Joel Netshitenzhe.

As South Africa progresses its platinum-based hydrogen fuel cell economy, Mistra aims to ensure that the benefits of these emergent industries accrue to all, including youth and communities. Additionally, the institute is focused on securing the global supply of green hydrogen by ensuring PGMs and other critical minerals remain a stable and mutually beneficial source for investment.

Netshitenzhe cited estimates that 35-million tonnes of green hydrogen will be produced by 2035 and form 20% of the EU’s energy mix by 2050, while the world is also moving towards more fuel-cell-powered trains, small vehicles, ships and aircraft.

South African hydrogen projects still awaiting FID include Boegoebaai in the Northern Cape, Coega in the Eastern Cape, Saldanha green steel in the Western Cape, Mitochondria’s Vereeniging project in Gauteng, the Platinum Valley mobility initiative in Gauteng and KwaZulu-Natal, Isondo Fuel Cells project in Gauteng, and Enertrag’s green ammonia project in the Northern Cape.

North America’s only publicly traded pure-play green hydrogen company, the Toronto Stock Exchange-listed Charbone Hydrogen, reported a 23% year-on-year revenue increase in the third quarter of this year, along with progress beginning on green hydrogen production at its Sorel-Tracy facility in Quebec next year. All necessary permits have been secured, and performance testing of electrolyser components has been completed, keeping the prospect of early 2025 production on track at Sorel-Tracy.

Charbone revenue for the nine months ending September 30 of $261 000 was up on the $213 000 for the corresponding period of 2023.

“Ongoing talks with strategic partners are advancing well to support and execute growth potential,” Charbone CFO Benoit Veilleux has told shareholders.

Regarding the world’s largest hydrogen fuel cell power plant in South Korea, the 107.9 MW $550-million project is expected to power 270 000 households once operational from March 2028, Fuel Cell Works stated.

Mining Weekly can report that the project will make use of public-private funding as it goes about augmenting regional clean electricity supply and economic growth, creating 1 200 jobs and revitalising local industrial complexes.

Regarding the hydrogen hub at Le Havre in France, renewable-energy company Qair has been awarded a parcel at Haropa Port to develop an e-methanol production project on 60 ha in Rogerville, in the vicinity of the Grand Canal du Havre and the A29 motorway. It is one of five Haropa Port parcels designated as ‘France 2030 industrial sites’ in May 2024 and thus benefits from government support for the implementation of industrial projects.

Meanwhile, as the world seeks to decarbonise and to combat climate change, the properties of PGMs as powerful catalysts are being applied to technologies for more efficient energy generation and storage.

Although PGMs are not used in the batteries of battery electric vehicles (BEVs) at this point, North America’s Platinum Group Metals Limited, which is developing a PGMs operation in South Africa’s Limpopo province, is at an advanced stage of battery technology research with South Africa’s Anglo American Platinum and Florida International University (FIU) to use PGMs in BEV batteries. The investment in the Lion project creates a potential vertical integration with a broader industrial market development strategy to bring new technologies to market which use palladium and platinum.

The upshot of all this is that the world is not only now earmarking PGMs to catalyse fuel cells that drive its trucks, trains, planes and ships into the new world of clean skies and low-to-no carbon, or to produce its green hydrogen in PGM-catalysed electrolysers, but it is also watching PGMs patenting their way into BEV batteries.

This will mean that BEVs and fuel cell electric vehicles (FCEVs) will both make use of PGMs, with the new generation of lightweight, powerful batteries being seen as having the potential to grow to scale on the back of the attractiveness of BEVs and the use of lithium batteries in other applications beyond mobility. Being in BEVs and FCEVs is a massive potential market advance for PGMs if the FIU research programme becomes a commercial one.

In addition to PGMs, Patent No 10,734,636 B2, entitled ‘Battery Cathodes for Improved Stability’, includes the use of carbon nanotubes and other innovations in a lithium battery. Further patent applications have been filed, Platinum Group Metals has reported as it advances the $617-million, 1 100-employee, 19.5-million-ounce palladium, platinum, rhodium and gold Waterberg project, that lends itself to productive bulk mechanised mining.

At COP29, nearly two dozen industry associations have called for urgent action to scale up the outlook for clean hydrogen and its derivatives.

Accelerating the implementation of the government policies that drive hydrogen deployment can unlock an abatement of 60 to 80 gigatons of CO₂, save $3.7-trillion in capital investments driven by cross-border supply chains for hydrogen and its derivatives, and create 25-million quality jobs worldwide.

Amid all that, worldwide associations have shone a bright spotlight on practical actions that can be taken by governments in the next two years to advance hydrogen’s deployment and save the world from climate chaos.

TSX- and NYSE-listed Lithium Americas (Argentina) has announced plans to redomicile from Canada to Switzerland, a move designed to enhance the company’s growth prospects and financing flexibility.

The company will operate under a new name, Lithium Argentina AG, and expects the change to take effect in early 2025, pending shareholder, stock exchange, and court approvals.

The decision follows an extensive review of the company’s corporate structure and operations, with Switzerland chosen as the most favorable jurisdiction from a legal, commercial, and strategic standpoint. The shift aims to provide Lithium Argentina with greater access to global financing markets, strengthen its proximity to European customers, and align with the company’s long-term growth objectives.

Lithium Argentina’s reorganisation into Switzerland marks a broader trend of companies emigrating from Canada as the government moves to curb Chinese influence in its mining sector, particularly with regard to lithium and rare earth elements. Two years ago, the Canadian government forced Chinese investors to divest from several lithium juniors with international assets, citing national security concerns.

Lithium Argentina’s partner in the Cauchari-Olaroz project, GFL International (Ganfeng), has entered into a three-year standstill agreement with the company. Under the terms of the agreement, Ganfeng has agreed not to acquire, directly or indirectly, a controlling interest in Lithium Argentina, except under customary exceptions.

Despite the corporate shift to Switzerland, Lithium Argentina emphasised that the change will not alter its operational focus. The company will continue to manage its flagship Cauchari-Olaroz lithium project in Jujuy province, with Buenos Aires becoming the operational headquarters for the group.

Further, Lithium Argentina has confirmed that its shares will continue to be listed on both the TSX and the NYSE under the new ticker symbol LAR. This will allow the company to maintain its North American investor base while benefiting from Switzerland’s favourable regulatory environment. Shareholders will experience no disruption in trading.

TSX- and NYSE-listed Lithium Americas (Argentina) has announced plans to redomicile from Canada to Switzerland, a move designed to enhance the company’s growth prospects and financing flexibility.

The company will operate under a new name, Lithium Argentina AG, and expects the change to take effect in early 2025, pending shareholder, stock exchange, and court approvals.

The decision follows an extensive review of the company’s corporate structure and operations, with Switzerland chosen as the most favorable jurisdiction from a legal, commercial, and strategic standpoint. The shift aims to provide Lithium Argentina with greater access to global financing markets, strengthen its proximity to European customers, and align with the company’s long-term growth objectives.

Lithium Argentina’s reorganisation into Switzerland marks a broader trend of companies emigrating from Canada as the government moved to curb Chinese influence in its mining sector, particularly with regard to lithium and rare earth elements. Two years ago, the Canadian government forced Chinese investors to divest from several lithium juniors with international assets, citing national security concerns.

Lithium Argentina’s partner in the Cauchari-Olaroz project, GFL International (Ganfeng), has entered into a three-year standstill agreement with the company. Under the terms of the agreement, Ganfeng has agreed not to acquire, directly or indirectly, a controlling interest in Lithium Argentina, except under customary exceptions.

Despite the corporate shift to Switzerland, Lithium Argentina emphasised that the change will not alter its operational focus. The company will continue to manage its flagship Cauchari-Olaroz lithium project in Jujuy province, with Buenos Aires becoming the operational headquarters for the group.

Further, Lithium Argentina has confirmed that its shares will continue to be listed on both the TSX and the NYSE under the new ticker symbol LAR. This will allow the company to maintain its North American investor base while benefiting from Switzerland’s favoruable regulatory environment. Shareholders will experience no disruption in trading.

Ethereum spot ETFs mark a historic milestone with a $332.92 million daily inflow, surpassing Bitcoin ETFs amid the ETH price surge.

The latest data from SoSoValue reveals that Ethereum (ETH) spot ETFs have recorded $332.92 million in daily net inflows as of Nov. 29, outpacing Bitcoin (BTC) spot ETFs’ $320.01 million for the first time since inception.

This development coincides with Ethereum’s price surge of over 3% in the last 24 hours, while Bitcoin showed minimal movement during the same period.

Ethereum ETF performance breakdown

The first spot Ethereum ETFs in the U.S. began trading on July 23. These ETFs, approved by the U.S. Securities and Exchange Commission, include products from well-known financial institutions like BlackRock, Fidelity and Grayscale, among others. They provide investors exposure to Ethereum’s price without needing to directly hold the cryptocurrency.

Here’s a look at how those ETFs are performing today:

• BlackRock’s iShares Ethereum Trust ETF, trading on NASDAQ, emerged as the top performer. It boasts $250.39 million in daily net inflow. The fund’s cumulative net inflow stands at $2.1 billion, with net assets of $2.5 billion.

• Grayscale Ethereum Mini Trust, listed on NYSE, recorded $3.39 million in daily inflows, contributing to its substantial cumulative net inflow of $420.15 million. The fund currently maintains a 0.35% ETH share with a market price of $33.84.

• Fidelity Ethereum Fund, on the Cboe Exchange, secured $79.44 million in daily inflows, pushing its cumulative total to $824.23 million. The fund trades at $35.88 with a 0.22% ETH share.

Bitcoin ETFs maintain strong presence

Despite being overtaken in daily flows, Bitcoin spot ETFs demonstrate strong performance. BlackRock’s iShares Bitcoin Trust ETF recorded $137.49 million in daily net inflow. IBIT’s cumulative net inflow has reached $31.74 billion, commanding a 2.51% BTC share.

Fidelity Wise Origin Bitcoin Fund, or FBTC, followed with $106.46 million in daily inflow, while Bitwise Bitcoin ETF, or BITB, secured $26.54 million.

Notably, Grayscale Bitcoin Trust showed no daily inflow, maintaining its cumulative position at -$20.52 billion.

The total value traded for Ethereum ETFs reached $313.61 million, while Bitcoin ETFs recorded a higher volume of $2.51 billion. The cumulative total net inflow stands at $573.32 million for Ethereum ETFs and $30.70 billion for Bitcoin ETFs.

The first spot Bitcoin ETF was approved and launched in Canada by Purpose Investments. It began trading on the Toronto Stock Exchange (TSX) under the ticker BTCC on Feb. 18, 2021. This was a significant milestone, as it marked the world’s first-ever ETF directly holding Bitcoin.

In the U.S., however, the SEC has not yet approved a spot Bitcoin ETF as of November 2024. The U.S. market currently only has futures-based Bitcoin ETFs, which started with the ProShares Bitcoin Strategy ETF (BITO) in October 2021.

VANCOUVER, BC / ACCESSWIRE / November 29, 2024 / Ostrom Climate Solutions Inc. (“Ostrom” or the “Company”) (TSX-V:COO)(Frankfurt:9EAA), a leading provider of carbon project development and climate solutions, has announced its financial results for the third quarter ended September 30, 2024. The results reflect ongoing strategic investments in project development and operational scalability amid challenging market conditions.

Third Quarter Financial Highlights

• Revenue for Q3 2024 was $389,788, compared to $1,314,302 in Q3 2023, reflecting a 67% decrease primarily due to timing of Verified Emission Reduction (VER) unit retirements and consulting project milestones.

• Net loss for Q3 2024 was $1,268,728, compared to net income of $57,053 in Q3 2023. The loss increase reflects research and development expenses tied to the Company’s flagship Smart-Rice Project, reduced revenue recognition and increased consulting fees.

• Year-to-date revenue reached $1,894,630, compared to $2,041,643 for the same period in 2023, reflecting a modest decrease amidst the transition to long-term recurring revenue models.

Operational and Strategic Developments

During Q3 2024, Ostrom Climate continued advancing its Climate-Smart Agriculture initiatives, specifically the Upper Pampanga River Climate-Smart Agriculture Project (UPRIIS). These projects leverage innovative technologies and Nature-Based Solutions (NBS) to reduce methane emissions, improve water management, and enhance food security in rice farming. Additionally, the Company’s Net Zero Solutions and Carbon Intelligence Services business lines drove progress by providing actionable carbon reduction strategies to clients. The Company also appointed Tejinder Virk as Chief Executive Officer on September 12, 2024, marking a key leadership transition to accelerate Ostrom’s strategic shift toward high-quality carbon project development.

Liquidity and Outlook

The Company ended Q3 2024 with $516,613 in cash, compared to $1,347,522 at year-end 2023. Ostrom Climate remains focused on addressing liquidity challenges through strategic financing efforts and diversifying revenue streams. A key priority remains securing long-term revenue from high-quality VER projects while rationalizing operational expenditures to optimize cash flow.

Management Commentary

“Our Q3 results highlight the transitional phase Ostrom Climate is navigating as we shift to a more sustainable, recurring revenue model,” said Tejinder Virk, CEO of Ostrom Climate Solutions Inc. “While near-term financial challenges reflect reduced revenue recognition and increased investment in strategic initiatives, these efforts are essential for positioning the Company as a leader in high-quality carbon projects and climate solutions. As we look ahead, we are refining our operations to better align with market opportunities and achieve long-term growth.”

About Ostrom Climate Solutions Inc.Ostrom is one of North America’s leading providers of carbon project development and management services, climate solutions, and carbon credit marketing. Over the past 12 years, Ostrom has validated and verified forest carbon projects globally for voluntary and regulated markets, having developed 16 million acres of forest land for conservation and monetized over 10 million carbon credits. Based out of Vancouver, B.C., Canada, the Ostrom team has a global reach, has worked with over 200 organizations globally, including Fortune 500 companies, managed projects in partnership with indigenous stakeholders and has extensive on-ground experience in emerging markets.

Ostrom is focused on developing high-quality carbon projects that have a positive impact on the environment, local communities and biodiversity. Ostrom is publicly listed on the TSX Venture Exchange (COO) and the Frankfurt Stock Exchange (9EAA).

Please visit us at www.ostromclimate.com.

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For more information regarding the Company, please contact:

Tejinder Virk

Chief Executive Officer

Ostrom Climate Solutions Inc.

322 Water St #400, Vancouver, BC V6B 1B6, Canada

Email: tej.virk@ostromclimate.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.

Cautionary Statement Regarding Forward Looking Statements

This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

SOURCE: Ostrom Climate Solutions Inc.

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