FINWIRES · TerminalLIVE
FINWIRES

Surge Battery Metals Says Nevada North Lithium JV Gets Additional $2.1 Million Advance by Evolution Mining

-- Surge Battery Metals (NILI.V) on Wednesday said Nevada North Lithium LLC (NNL), the joint venture formed by units of Surge and Evolution Mining (EVN.AX), received an additional $2.1 million advance from Evolution under the terms of NNL's operating agreement.

The company said Evolution previously advanced $4.7 million. That capital, it added, financed the successful 2025 infill drill program, ongoing mineral resource estimate, metallurgical testing, preliminary feasibility study (PFS) engineering and overall mine planning.

Surge Battery Metals said the fully funded PFS remains on budget, and the $2.1 million advance will finance continued second-quarter PFS activities.

"This funding, together with the CA$30,000,000 in the Surge treasury, leaves the company in a strong financial position to move the NNL project forward," said Surge Chief Executive Greg Reimer.

Shares of the company were last seen up $0.01 $0.69 on the TSX Venture Exchange.

Price: $0.69, Change: $+0.01, Percent Change: +1.47%

Related Articles

Asia

Shakti Pumps (India) Invests INR100 Million in EV Mobility Unit

Shakti Pumps (India) (NSE:SHAKTIPUMP, BOM:531431) said it has invested 100 million Indian rupees in its wholly owned subsidiary Shakti EV Mobility by subscribing to 10 million equity shares, according to a Tuesday filing to the Indian stock exchanges.Shares of the company rose 1% in Wednesday's trade.With this, Shakti Pumps' total investment in the EV mobility unit has increased to 650 million Indian rupees, the filing said.The investment is aimed at supporting business expansion of the subsidiary, it added.

$BOM:531431$NSE:SHAKTIPUMP
Asia

Challenger's Fiscal 2026 Q3 Update Missed Consensus Across Key Life Metrics, Jarden Says

Challenger's (ASX:CGF) fiscal 2026 third-quarter update missed consensus across key Life metrics, with FM outflows significantly worse than expected, driven by institutional equity mandate attrition in both Australian and global equities, according to a Tuesday note by Jarden.The firm's redemption of all CGFPC notes on May 25 simplifies the capital structure, reduces the AT1 coupon burden, and is earnings-per-share accretive.Jarden sees balanced risk/reward for Challenger in the future, with catalysts including capital management flexibility from the Australian Prudential Regulation Authority reform, as well as expanding retirement partnerships across superfunds.It lowered its fiscal 2026 sales forecast to reflect weaker institutional fixed-term sales, partially offset by higher retail annuity sales as partnerships come online.The investment firm retained its neutral rating on Challenger and raised the price target to AU$8.70 per share from AU$8.60 per share.

$ASX:CGF
Asia

Proya Cosmetics 2025 Profit Down 4%, Revenue Slips 2%

Proya Cosmetics (SHA:603605) posted 2025 attributable net profit of 1.50 billion yuan, down 3.5% from 1.55 billion yuan the previous year.Earnings per share slid to 3.80 yuan from 3.92 yuan, according to a Wednesday filing with the Shanghai bourse.Operating revenue declined 1.7% year over year to 10.6 billion yuan from 10.8 billion yuan.Shares of the cosmetics maker were up over 1% in recent trade.

$SHA:603605