Q2 Metals reports PEA for Cisco lithium project in Québec

Updated Nov 10, 2026 12:32pm ET

Markets: The S&P/TSX Composite was down 308.50 points, or 0.85%, at 36,137.76 in midday trade, with losses in base metals weighing on the index. The S&P 500 stood at 7,497.51, down 52.43 points or 0.69%, and the Nasdaq Composite at 24,941.75, down 311.39 points or 1.23%. US consumer inflation came in hotter than expected, and Fed Governor Waller said he would vote for a 0.25% rate increase at the December meeting. So far today gold has fallen 2.03% to US$4,030.9 and silver has dropped 2.61% to US$51.320. Oil was at US$86.53, down 0.37%, after Brent dipped below $90 on Iran de-escalation signals. The Canadian dollar eased 0.59% to US$0.70417. The S&P/TSX Venture Composite was down 24.16 points, or 2.89%, at 811.87, and the CSE Composite was down 1.15 points, or 0.86%, at 131.92.

Premier American Uranium: Premier American Uranium said DISA Uranium has completed its US$5 million strategic equity investment, funded through 9,326,000 subscription receipts issued by the company. The announcement also said IsoEnergy has increased its strategic holding. The junior is listed on the TSX Venture.

Q2 Metals: Q2 Metals released a PEA for its Cisco lithium project in Québec, sized at 1.7 Mtpa. The company reported an after-tax NPV₈ of C$13.49 billion, or C$13.5 billion in its headline, and an after-tax IRR of 38.7%. These are the company's own study results, and it described the project economics as strong.

Goldsky Resources: Goldsky Resources reported assays from the first infill hole in its 25,000 metre drill program at the Barsele gold project in Sweden. Hole SKI26001 returned 4.61 g/t gold over 75.3 metres, and gold mineralization ran continuously from 71 metres to 275.3 metres in the Skiråsen zone, more than 200 metres in all.

Alphamin: Alphamin Resources agreed to send a portion of the tin concentrate from its Bisie mine in the Democratic Republic of Congo to Nathan Trotter in the US. The deal directs Congolese tin to a new US smelter and is described as a diversification step. The company is listed on the TSX Venture and the JSE.

Allied Gold: Allied Gold has poured its first gold at the Kurmuk mine in Ethiopia, moving the project into production after wet commissioning in late October. Reports slot Kurmuk in as Allied's cheapest mine to run, and one report said the 2027 outlook was lifted to as much as 670,000 ounces.

Silver miners: Silver has roughly halved from its January peak, yet major producers still posted higher third-quarter profits, realizing about 60 to 80 percent more per ounce than a year earlier. Endeavour Silver booked US$184.5 million of revenue against US$212.1 million in the second quarter, at a realized price of US$62.42 per ounce, and trimmed its Guanaceví silver guidance. Net earnings were US$26.4 million, compared with US$66.5 million.

Roshel: Stellantis signed a deal to sell its idled Brampton, Ont., assembly plant to Canadian defence contractor Roshel. Laid-off workers at the plant number more than 2,200, and Roshel's CEO said the company will not consider taking responsibility for them. The Unifor president said the sale betrayed the union's members.

Oil: Brent crude briefly fell below $90 a barrel, its lowest level since August, as President Trump signalled de-escalation with Iran and said further strikes were unnecessary. Crude has shed almost $30 a barrel since the US midterm elections, and WTI traded below $85 in early European trade. Tanker rates in the Gulf, however, remain stubbornly high.

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Written by AI based upon public market data and company news releases, and checked automatically before publishing. Company statements are reported as the companies made them. Not investment advice.