EVENTS
IC Group - Ottawa, ON
IC Group (TSX-V: ICGH) is a technology-led consumer engagement company helping the world’s leading brands, sports teams, leagues, and live events grow revenue and build stronger customer relationships. With more than 35 years of experience, the company provides an integrated suite of customer engagement, communications, and risk management solutions that help clients attract new customers, sell more products, capture valuable first-party customer data, increase loyalty, and manage operational risk. With solutions delivered in more than 30 countries, IC Group enables organizations to engage consumers at scale while simplifying the complexities of multiple channels, technologies, and local market requirements.
IC Group - Vancouver, BC
IC Group (TSX-V: ICGH) is a technology-led consumer engagement company helping the world’s leading brands, sports teams, leagues, and live events grow revenue and build stronger customer relationships. With more than 35 years of experience, the company provides an integrated suite of customer engagement, communications, and risk management solutions that help clients attract new customers, sell more products, capture valuable first-party customer data, increase loyalty, and manage operational risk. With solutions delivered in more than 30 countries, IC Group enables organizations to engage consumers at scale while simplifying the complexities of multiple channels, technologies, and local market requirements.
Surge Energy - Wellesley, MA
Surge Energy SGY:TSX | SGYEF:OTCQX
Market Cap: $1.11B
Dividend: $0.52 annually, paid monthly
Strong performance with further potential – Surge shares are up approximately 64% this year, outperforming the XEG, while recent operational improvements may not yet be fully reflected in production growth or financial results.
Material improvement in Sparky – Recent Sparky wells are expected to deliver approximately 55% higher cumulative oil production over their first two years compared with 2021–2024 wells.
Attractive well economics – At US$75 WTI, recent Sparky wells are estimated to generate a 2x payout within 2.5 years, placing the play among the top quartile of more than 100 plays tracked by BMO.
Potential shift to growth – After several years focused on debt reduction and maintaining a meaningful dividend, leverage is approaching just 0.3x debt/EBITDA, providing greater flexibility to accelerate development.
Waterflood upside – Surge is planning approximately 25 waterflood injectors across its Sparky assets. Early indications from the pilot are encouraging, with the potential for increased productivity as the program expands.
• Valuation and ownership opportunity – Surge trades at one of the larger discounts to its oil-weighted mid-cap peers and remains relatively under-owned, despite a market capitalization now above $1 billion.
Surge Energy - Hartford, CT
Surge Energy SGY:TSX | SGYEF:OTCQX
Market Cap: $1.11B
Dividend: $0.52 annually, paid monthly
Strong performance with further potential – Surge shares are up approximately 64% this year, outperforming the XEG, while recent operational improvements may not yet be fully reflected in production growth or financial results.
Material improvement in Sparky – Recent Sparky wells are expected to deliver approximately 55% higher cumulative oil production over their first two years compared with 2021–2024 wells.
Attractive well economics – At US$75 WTI, recent Sparky wells are estimated to generate a 2x payout within 2.5 years, placing the play among the top quartile of more than 100 plays tracked by BMO.
Potential shift to growth – After several years focused on debt reduction and maintaining a meaningful dividend, leverage is approaching just 0.3x debt/EBITDA, providing greater flexibility to accelerate development.
Waterflood upside – Surge is planning approximately 25 waterflood injectors across its Sparky assets. Early indications from the pilot are encouraging, with the potential for increased productivity as the program expands.
• Valuation and ownership opportunity – Surge trades at one of the larger discounts to its oil-weighted mid-cap peers and remains relatively under-owned, despite a market capitalization now above $1 billion.
IC Group - Calgary, AB
IC Group (TSX-V: ICGH) is a technology-led consumer engagement company helping the world’s leading brands, sports teams, leagues, and live events grow revenue and build stronger customer relationships. With more than 35 years of experience, the company provides an integrated suite of customer engagement, communications, and risk management solutions that help clients attract new customers, sell more products, capture valuable first-party customer data, increase loyalty, and manage operational risk. With solutions delivered in more than 30 countries, IC Group enables organizations to engage consumers at scale while simplifying the complexities of multiple channels, technologies, and local market requirements.
Sierra Madre - Wellesley, MA
Sierra Madre Gold and Silver Ltd. (TSXV: SM) (OTCQX: SMDRF) is a precious metals producer and exploration company focused on the operation, exploration, and development at its Guitarra mine complex in the Temascaltepec mining district, Mexico. The Guitarra mine is a permitted underground mine, which includes a 500 tpd processing facility that operated until mid-2018 and restarted commercial production in January 2025. In June 2026, Sierra Madre closed the acquisition of the Del Toro silver mine, adding a past-producing, fully permitted asset to its Mexico-focused silver and gold portfolio.
The Company also holds the +2,600 ha Tepic Project, which hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource. Sierra Madre´s management team has played key roles in managing the exploration and development of silver and gold mineral reserves and mineral resources. Sierra Madre´s team of professionals has collectively raised over $1 billion for mining companies.
Parex Resources - Ottawa, ON
Parex Resources (TSX: PXT) is the largest independent oil and gas company in Colombia, focusing on sustainable, conventional production. The Company’s corporate headquarters are in Calgary, Canada, with an operating office in Bogotá, Colombia.
Market Cap $2.3B
Successfully transformed into Colombia's largest independent oil & gas producer following the acquisition of Frontera's Colombian assets, significantly increasing the company's scale and diversification.
Updated reserve reports show a substantial increase in reserves, with PDP and 1P reserves up more than 80%and 2P reserves up 71% compared to year-end 2025.
Building strong operational momentum with July production averaging approximately 83,500 boe/dand reaffirmed H2 2026 production guidance of 82,000–91,000 boe/d.
Exploration success at LLA-111 continues to support production growth, with current production exceeding 5,000 bbl/d and additional volumes expected in Q4 2026.
Generated $191 million in adjusted funds flow during Q2 despite one-time acquisition and hedging costs, demonstrating the strength of the underlying business.
Maintained strong profitability and cash generation with an operating netback of $45.14/boe, while reducing bank debt by $175 million and ending the quarter with substantial liquidity.
Continues to deliver meaningful shareholder returns through its quarterly dividend, currently C$0.385 per share (annualized at C$1.54 per share).
Management can discuss the successful Frontera integration, production growth outlook, reserve expansion, exploration catalysts, capital allocation priorities, and the long-term value creation potential of the combined company
IC Group - Toronto, ON
IC Group (TSX-V: ICGH) is a technology-led consumer engagement company helping the world’s leading brands, sports teams, leagues, and live events grow revenue and build stronger customer relationships. With more than 35 years of experience, the company provides an integrated suite of customer engagement, communications, and risk management solutions that help clients attract new customers, sell more products, capture valuable first-party customer data, increase loyalty, and manage operational risk. With solutions delivered in more than 30 countries, IC Group enables organizations to engage consumers at scale while simplifying the complexities of multiple channels, technologies, and local market requirements.
Parex Resources - Toronto, ON
Parex Resources (TSX: PXT) is the largest independent oil and gas company in Colombia, focusing on sustainable, conventional production. The Company’s corporate headquarters are in Calgary, Canada, with an operating office in Bogotá, Colombia.
Market Cap $2.3B
Successfully transformed into Colombia's largest independent oil & gas producer following the acquisition of Frontera's Colombian assets, significantly increasing the company's scale and diversification.
Updated reserve reports show a substantial increase in reserves, with PDP and 1P reserves up more than 80%and 2P reserves up 71% compared to year-end 2025.
Building strong operational momentum with July production averaging approximately 83,500 boe/dand reaffirmed H2 2026 production guidance of 82,000–91,000 boe/d.
Exploration success at LLA-111 continues to support production growth, with current production exceeding 5,000 bbl/d and additional volumes expected in Q4 2026.
Generated $191 million in adjusted funds flow during Q2 despite one-time acquisition and hedging costs, demonstrating the strength of the underlying business.
Maintained strong profitability and cash generation with an operating netback of $45.14/boe, while reducing bank debt by $175 million and ending the quarter with substantial liquidity.
Continues to deliver meaningful shareholder returns through its quarterly dividend, currently C$0.385 per share (annualized at C$1.54 per share).
Management can discuss the successful Frontera integration, production growth outlook, reserve expansion, exploration catalysts, capital allocation priorities, and the long-term value creation potential of the combined company
Val-D'Or Mining Corp - Vancouver, BC
Val-d'Or Mining Corporation is a junior natural resource issuer involved in the process of acquiring and exploring its diverse mineral property assets, most of which are situated in the Abitibi Greenstone Belt of NE Ontario and NW Québec. To complement its current property interests, the Company regularly evaluates new opportunities for staking and/or acquisitions. Outside of its principal regional focus in the Abitibi Greenstone Belt, the Company holds several other properties in Northern Québec (Nunavik) covering different geological environments and commodities (Ni-Cu-PGE's).
The Company has expertise in the identification and generation of new projects, and in early-stage exploration. The mineral commodities of interest are broad, and range from gold, copper-zinc-silver, nickel-copper-PGE to industrial and energy minerals. After the initial value creation in the 100%-owned, or majority-owned properties, the Company seeks option/joint venture partners with technical expertise and financial capacity to conduct more advanced exploration projects.
Multiple Emerging Gold Discoveries in the Abitibi
Val-d'Or Mining is a Canadian project generator with an extensive portfolio of properties across the Abitibi Greenstone Belt in Québec and Ontario. The company partners with other mining companies to fund exploration, giving shareholders exposure to discovery upside while limiting VZZ's direct exploration spend.
The story has become particularly interesting following a series of strong drill results from two Eldorado Gold-partnered projects: Perestroika in Québec and Baden in Ontario.
Perestroika: Increasing Scale + Grade
The most recent drilling at Perestroika has materially advanced what was already an emerging gold discovery.
Recent highlights, reported on August 5, 2026, include:
84.0 m @ 3.08 g/t Au, including 16.0 m @ 10.70 g/t Au
Within that interval: 0.70 m @ 149.65 g/t Au and 0.60 m @ 61.07 g/t Au
21.3 m @ 3.07 g/t Au, including 8.74 m @ 5.00 g/t Au and 2.70 m @ 11.46 g/t Au
These results build on strong earlier drilling, including:
16.3 m @ 4.01 g/t Au, including 0.50 m @ 66.30 g/t Au
4.60 m @ 12.35 g/t Au
8.60 m @ 4.45 g/t Au
Historical holes of 2.77 m @ 26.18 g/t Au and 3.05 m @ 20.69 g/t Au
Importantly, the results are beginning to demonstrate more than isolated high-grade veins. Drilling is testing a broad mineralized structural corridor containing stacked gold-bearing quartz-ankerite veins, with mineralization previously demonstrated over approximately 1.5 km of investigated strike and remaining open along strike and at depth.
Eldorado significantly expanded its 2026 program from an originally planned 8,000 metres, providing an important near-term catalyst as additional assays are received.
Baden: New Gold Discovery in Ontario
VZZ has also reported a new high-grade discovery at the Baden Prospect near Matachewan, Ontario.
Maiden drilling, reported June 29, 2026, returned:
6.27 g/t Au over 7.40 m, including 71.60 g/t Au over 0.60 m
A separate interval of 2.44 g/t Au over 4.40 m, including 6.20 g/t Au over 1.10 m
Perhaps most interestingly, the discovery was made approximately 2 km west of the main historical V2-Arbade mineralized trend, opening up an entirely new area for follow-up exploration.
Why VZZ is Interesting Now
VZZ historically offered investors exposure to a large portfolio of early-stage exploration assets through a capital-efficient project-generator model. Recent drilling is beginning to demonstrate meaningful discovery potential within that portfolio.
Perestroika is showing a combination of width, grade, strike extent and repeatability, while maiden drilling at Baden has identified a separate high-grade gold discovery.
Both projects are partnered with Eldorado Gold, allowing VZZ shareholders to participate in exploration upside while a significantly larger mining company provides much of the exploration capital.
With substantial Perestroika assays still to come and multiple discoveries requiring follow-up, VZZ offers leveraged exposure to an evolving Abitibi gold exploration story without relying on a single property for success.
Sierra Madre Gold and Silver - Q2 Results Webinar
Join Adelaide Capital for a webinar featuring Sierra Madre Gold and Silver!
Join us for an update and discussion on Sierra Madre Gold and Silver Q2 results with Alexander Langer, President and CEO and Ken Scott, CFO.
Sierra Madre Gold and Silver Ltd. (TSXV: SM) (OTCQX: SMDRF) is a precious metals producer and exploration company focused on the operation, exploration, and development at its Guitarra mine complex in the Temascaltepec mining district, Mexico. The Guitarra mine is a permitted underground mine, which includes a 500 tpd processing facility that operated until mid-2018 and restarted commercial production in January 2025. In June 2026, Sierra Madre closed the acquisition of the Del Toro silver mine, adding a past-producing, fully permitted asset to its Mexico-focused silver and gold portfolio. The Company also holds the +2,600 ha Tepic Project, which hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource.
IC Group Holdings Inc. - Q2 2026 Financial Results Webinar
Join Adelaide Capital for a webinar featuring IC Group Holdings!
Join us for an update and discussion on IC Group’s Q2 2026 financial results with Duncan McCready, CEO, and John Penhale, CFO. IC Group (TSXV: ICGH) is a technology-led consumer engagement company helping the world’s leading brands, sports teams, leagues, and live events grow revenue and build stronger customer relationships. With more than 35 years of experience, the company provides an integrated suite of customer engagement, communications, and risk management solutions that help clients attract new customers, sell more products, capture valuable first-party customer data, increase loyalty, and manage operational risk. With solutions delivered in more than 30 countries, IC Group enables organizations to engage consumers at scale while simplifying the complexities of multiple channels, technologies, and local market requirements.
Santacruz Silver - Q2 2026 Results Webinar
Join Adelaide Capital for a webinar featuring Santacruz Silver!
Santacruz Silver is engaged in the operation, acquisition, exploration, and development of mineral properties across Latin America. In Bolivia, the Company operates the Bolivar, Porco, and Caballo Blanco mining complexes, with Caballo Blanco comprising the Tres Amigos and Colquechaquita mines. The Reserva mine, whose production is provided to the San Lucas ore sourcing and trading business, is also located in Bolivia. Additionally, the Company oversees the Soracaya exploration project. In Mexico, Santacruz operates the Zimapan mine.
iFabric Corp. - Investor Update Webinar
Join Adelaide Capital for a webinar featuring IFABRIC CORP!
Join us for a discussion of iFabric's Q2 2026 results and other recent company milestones.
Hylton Karon, CEO, Hilton Price, CFO, and Giancarlo Beevis, COO, will present. iFabric Corp. (TSX: IFA; OTCQX: IFABF) develops, licenses, and commercializes innovative performance technologies for textiles, apparel, and surface applications. Through its Intelligent Fabric Technologies (North America) division, iFabric partners with global brands, retailers, institutions, and manufacturers to deliver enhanced functionality—ranging from antimicrobial technologies to moisture management, PFAS-free water repellency, and surface-protection solutions—across diverse end uses. For more information, visit iFabric’s website.
Surge Energy - Investor Update Webinar
Join Adelaide Capital for a webinar featuring SURGE ENERGY!
Surge Energy (TSX: SGY | SGYEF: OTCQX)
Market cap ~$970MM
Shares O/S 98.8MM
Dividend $0.52/annum paid monthly
Surge Energy is a Canadian oil producer focused on generating free cash flow and returning capital to shareholders through a combination of dividends, share buybacks, and debt reduction.
The company operates a high-quality, liquids-weighted asset base concentrated in two of Canada's most economic conventional oil plays. Surge has built a business model focused on disciplined capital allocation, low decline assets, and sustainable free cash flow generation rather than production growth at any cost.
• Forecasting approximately $145 million of free cash flow in 2026 at US$80 WTI.
• Attractive shareholder return model including a dividend currently yielding over 5%, ongoing share buybacks, and continued balance sheet improvement.
• Increased 2026 production guidance to 24,000 boepd while maintaining a strong free cash flow profile.
• Significant leverage to higher oil prices, with approximately $8 million of additional cash flow generated for every US$1 increase in WTI.
• Strong asset backing with independent reserve value well above the current share price and analyst targets averaging approximately $13.40 per share.
• Large drilling inventory providing visibility for long-term production and cash flow growth.
• Experienced management team with a proven track record of building value through disciplined operations and capital allocation.
• Strong financial flexibility, including substantial available liquidity and manageable debt maturities.
For investors seeking exposure to energy, Surge offers a combination of income, buybacks, production growth, free cash flow generation, and oil price upside within a single investment opportunity.
Xali Gold - Investor Update Webinar
Join Adelaide Capital for a webinar featuring XALI GOLD!
Join us for an update with Joanne Freeze, President & CEO.
Xali Gold (TSXV: XGC) is a gold and silver exploration company focused on advancing opportunities in the Americas. The Company is focused on the exploration and development of Pico Machay, an advanced exploration-stage gold project in Peru with a near-term production goal. Xali Gold maintains some exploration potential as well as two royalty agreements with third parties who have the rights to produce gold and silver from specific areas of the El Oro gold-silver Project in Mexico, a historic district-scale precious metal system with a long history of significant gold and silver production. The Company's approach to community engagement and responsible development is guided by strong governance principles and Board oversight that support long-term stakeholder relationships.
New to Market: Phoenix Metals
Join Adelaide Capital for a webinar featuring PHOENIX METALS!
Join us for an introduction to Phoenix Metals with Nick Campbell, CEO
Phoenix Metals Corp. is a Canadian mineral exploration company focused on the exploration and development of gold-copper deposits in south-central British Columbia. The Company’s principal asset is the Greenwood Project, comprising the Lexington, Golden Crown, Blue Bell, Phoenix, Tam O’Shanter, and Boundary Falls and Haas Creek properties located between the Towns of Greenwood and Grand Forks, British Columbia, and consisting of 156 active mineral claims, four mining leases, and 211 Crown Granted parcels.
Titiminas Silver - Vancouver, BC
Titiminas Silver Inc. (TSXV: TITI) is a Peru-focused silver developer advancing the past-producing, high-grade Madre Sierra Silver mine in central Peru, one of the world's most prolific mining jurisdictions. The Company is pursuing a multi-asset growth strategy with a clear path to becoming a mid-tier silver producer through project development and strategic M&A, leveraging proprietary deal flow and deep relationships across Peru. Titiminas is led by an experienced team with a proven track record in exploration, development, financings and operations.
Titiminas Silver - Calgary, AB
Titiminas Silver Inc. (TSXV: TITI) is a Peru-focused silver developer advancing the past-producing, high-grade Madre Sierra Silver mine in central Peru, one of the world's most prolific mining jurisdictions. The Company is pursuing a multi-asset growth strategy with a clear path to becoming a mid-tier silver producer through project development and strategic M&A, leveraging proprietary deal flow and deep relationships across Peru. Titiminas is led by an experienced team with a proven track record in exploration, development, financings and operations.
Journey Energy - Houston, TX
We are hosting an investor lunch with Alex Verge, President & CEO of Journey Energy with EPG in Houston, Texas.
Market Overview
Market Cap: ~C$380M
Production: ~11,200 Boe/d
Net Debt: ~$50M
Avg. Daily Volume: ~160K shares
A Cash Flow Story with Multiple Growth Drivers
Delivered +37% cash flow growth in 2025, with further upside expected in 2026 ~($90M). Levered to improving natural gas pricing and higher-margin production.
Core Exposure to the Duvernay – Visible Near-Term Catalysts
Active multi-well drilling program with new production coming online through 2026 with 14 new gross wells to be drilled. Increasing capital allocation reflects strong economics and confidence in returns. Ongoing development provides a steady pipeline of news flow.
Differentiated Power Business (Often Overlooked)
~$55M invested to date building out power generation assets $74.9M PV10 value. Two projects expected online in 2026, creating a new and growing revenue stream. Positions Journey as more than a traditional E&P.
Improving Balance Sheet & Financial Discipline
Net debt reduced by ~16% to ~$50M. Low leverage (~0.7x debt/cash flow) supports ongoing development and flexibility.
Compelling Valuation vs Asset Base
Trading at ~4.7x EV/EBITDA (2026E). Backed by a strong reserve base and growing net asset value TP of $8.21. Opportunity for re-rating as execution continues.
Stable Production with Liquids Weighting
~11,200 Boe/d with ~60% liquids mix. Portfolio optimization improving margins and overall asset quality through non-core disposition.
Journey Energy Inc. is a Canadian exploration and production company focused on oil-weighted operations in Alberta, Canada. Journey’s strategy is to grow its production base by drilling on its existing core lands, implementing secondary and tertiary flood projects on its existing lands, and by executing on accretive acquisitions. In conjunction with its joint venture partner, the Company has recently begun development of its Duvernay light oil resource play. In addition, Journey is continuing with its plans to grow its power generation business through its projects at Gilby and Mazeppa.
Journey Energy - Dallas, TX
We are hosting an investor lunch with Alex Verge, President & CEO of Journey Energy in Dallas, Texas.
Market Overview
Market Cap: ~C$380M
Production: ~11,200 Boe/d
Net Debt: ~$50M
Avg. Daily Volume: ~160K shares
A Cash Flow Story with Multiple Growth Drivers
Delivered +37% cash flow growth in 2025, with further upside expected in 2026 ~($90M). Levered to improving natural gas pricing and higher-margin production.
Core Exposure to the Duvernay – Visible Near-Term Catalysts
Active multi-well drilling program with new production coming online through 2026 with 14 new gross wells to be drilled. Increasing capital allocation reflects strong economics and confidence in returns. Ongoing development provides a steady pipeline of news flow.
Differentiated Power Business (Often Overlooked)
~$55M invested to date building out power generation assets $74.9M PV10 value. Two projects expected online in 2026, creating a new and growing revenue stream. Positions Journey as more than a traditional E&P.
Improving Balance Sheet & Financial Discipline
Net debt reduced by ~16% to ~$50M. Low leverage (~0.7x debt/cash flow) supports ongoing development and flexibility.
Compelling Valuation vs Asset Base
Trading at ~4.7x EV/EBITDA (2026E). Backed by a strong reserve base and growing net asset value TP of $8.21. Opportunity for re-rating as execution continues.
Stable Production with Liquids Weighting
~11,200 Boe/d with ~60% liquids mix. Portfolio optimization improving margins and overall asset quality through non-core disposition.
Journey Energy Inc. is a Canadian exploration and production company focused on oil-weighted operations in Alberta, Canada. Journey’s strategy is to grow its production base by drilling on its existing core lands, implementing secondary and tertiary flood projects on its existing lands, and by executing on accretive acquisitions. In conjunction with its joint venture partner, the Company has recently begun development of its Duvernay light oil resource play. In addition, Journey is continuing with its plans to grow its power generation business through its projects at Gilby and Mazeppa.
Sable Resources - Investor Update Webinar
Join Adelaide Capital for a webinar featuring SABLE RESOURCES!
Join us for an update with Ruben Padilla, CEO of Sable Resources.
Sable Resources (TSXV: SAE, OTCQB: SBLRF) is a well-funded junior grassroots explorer focused on the discovery of Tier-One new precious metal and copper projects through systematic exploration in endowed terranes located in favorable, established mining jurisdictions. Sable’s focus is on developing its large portfolio of new Greenfields projects to resource level. Sable is actively exploring the San Juan Regional Program (163,969 ha), incorporating the Don Julio, El Fierro, Cerro Negro, and Zorro projects in San Juan province, Argentina, and the Copper Queen (15,133 ha), Copper Prince (3,980 ha), and Core Mountain (1,925 ha) properties in British Columbia.
Sitka Gold - Toronto, ON
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka is currently advancing its 100% owned, 447 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company has also announced plans to spin-out the Alpha Gold Project in Nevada and the Burro Creek Gold and Silver Project in Arizona into a new discovery-focused exploration company to be named at a later date.
A 60,000 metre diamond drilling program planned for 2026 is currently underway at the Company’s flagship RC Gold Project, located in Yukon Canada, where 4 diamond drill rigs are currently operating.
Journey Energy - Toronto, ON
Journey Energy Inc. - Alex Verge, President & CEO
Market Cap: ~C$380M | Production: ~11,200 Boe/d | Net Debt $50M
Average daily trading volume 160k shares
A Cash Flow Story with Multiple Growth Drivers
Delivered +37% cash flow growth in 2025, with further upside expected in 2026 ~($90M). Levered to improving natural gas pricing and higher-margin production.
Core Exposure to the Duvernay – Visible Near-Term Catalysts
Active multi-well drilling program with new production coming online through 2026 with 8 – 13 new wells to be drilled. Increasing capital allocation reflects strong economics and confidence in returns. Ongoing development provides a steady pipeline of news flow.
Differentiated Power Business (Often Overlooked)
~$55M invested to date building out power generation assets $74.9M PV10 value. Two projects expected online in 2026, creating a new and growing revenue stream. Positions Journey as more than a traditional E&P.
Improving Balance Sheet & Financial Discipline
Net debt reduced by ~16% to ~$50M. Low leverage (~0.7x debt/cash flow) supports ongoing development and flexibility.
Compelling Valuation vs Asset Base
Trading at ~4.7x EV/EBITDA (2026E). Backed by a strong reserve base and growing net asset value TP of $8.21. Opportunity for re-rating as execution continues.
Stable Production with Liquids Weighting
~11,200 Boe/d with ~60% liquids mix. Portfolio optimization improving margins and overall asset quality through non-core disposition.
Journey Energy Inc. is a Canadian exploration and production company focused on oil-weighted operations in Alberta, Canada. Journey’s strategy is to grow its production base by drilling on its existing core lands, implementing secondary and tertiary flood projects on its existing lands, and by executing on accretive acquisitions. In conjunction with its joint venture partner, the Company has recently begun development of its Duvernay light oil resource play. In addition, Journey is continuing with its plans to grow its power generation business through its projects at Gilby and Mazeppa.
Titiminas Silver - Montreal, QC
Titiminas Silver Inc. (TSXV: TITI) is a Peru-focused silver developer advancing the past-producing, high-grade Madre Sierra Silver mine in central Peru, one of the world's most prolific mining jurisdictions. The Company is pursuing a multi-asset growth strategy with a clear path to becoming a mid-tier silver producer through project development and strategic M&A, leveraging proprietary deal flow and deep relationships across Peru. Titiminas is led by an experienced team with a proven track record in exploration, development, financings and operations.
Journey Energy - Toronto, ON
Journey Energy Inc. - Alex Verge, President & CEO
Market Cap: ~C$380M | Production: ~11,200 Boe/d | Net Debt $50M
Average daily trading volume 160k shares
A Cash Flow Story with Multiple Growth Drivers
Delivered +37% cash flow growth in 2025, with further upside expected in 2026 ~($90M). Levered to improving natural gas pricing and higher-margin production.
Core Exposure to the Duvernay – Visible Near-Term Catalysts
Active multi-well drilling program with new production coming online through 2026 with 8 – 13 new wells to be drilled. Increasing capital allocation reflects strong economics and confidence in returns. Ongoing development provides a steady pipeline of news flow.
Differentiated Power Business (Often Overlooked)
~$55M invested to date building out power generation assets $74.9M PV10 value. Two projects expected online in 2026, creating a new and growing revenue stream. Positions Journey as more than a traditional E&P.
Improving Balance Sheet & Financial Discipline
Net debt reduced by ~16% to ~$50M. Low leverage (~0.7x debt/cash flow) supports ongoing development and flexibility.
Compelling Valuation vs Asset Base
Trading at ~4.7x EV/EBITDA (2026E). Backed by a strong reserve base and growing net asset value TP of $8.21. Opportunity for re-rating as execution continues.
Stable Production with Liquids Weighting
~11,200 Boe/d with ~60% liquids mix. Portfolio optimization improving margins and overall asset quality through non-core disposition.
Journey Energy Inc. is a Canadian exploration and production company focused on oil-weighted operations in Alberta, Canada. Journey’s strategy is to grow its production base by drilling on its existing core lands, implementing secondary and tertiary flood projects on its existing lands, and by executing on accretive acquisitions. In conjunction with its joint venture partner, the Company has recently begun development of its Duvernay light oil resource play. In addition, Journey is continuing with its plans to grow its power generation business through its projects at Gilby and Mazeppa.
Sitka Gold - Investor Update Webinar
Join Adelaide Capital for a webinar featuring SITKA GOLD CORP!
Join us for an update with Mike Burke, VP Corporate Development at Sitka Gold.
Sitka Gold (TSXV: SIG, FSE: 1RF, OTCQX: SITKF) is advancing its 100%-owned RC Gold Project in Yukon’s Tombstone Gold Belt. RC Gold combines large-scale gold resources, district-scale exploration potential, favourable metallurgy, development-friendly topography, existing infrastructure, and a strong treasury. As exploration and technical work advance, the project is increasingly demonstrating the attributes of an emerging gold district. District Scale Potential
▫️RC Gold – a highly prospective,100% owned, contiguous land package of approximately 447 square kilometres in the Tombstone Gold Belt • The project hosts more than 5.1 million ounces of gold, including 1.29 million ounces indicated and 3.83 million ounces inferred
▫️Only three of eleven identified gold-bearing intrusive targets have been drill-tested, leaving substantial discovery potential • Recent drilling continues to expand gold mineralization beyond the current deposits Exploration Success
▫️Exploration has consistently expanded existing deposits while identifying new mineralized centres
▫️Rhosgobel advanced from discovery drilling to a maiden resource of approximately 2.25 million ounces within a short period of time.
▫️The fully funded 60,000-metre 2026 drill program is expected to approximately double the cumulative drilling completed at RC Gold.
▫️Current drilling is focused on resource expansion and testing additional targets across the district. Metallurgy and Development Characteristics
▫️Metallurgical testing has demonstrated non-refractory gold and up to 96% recovery using conventional processing methods.
▫️Broad valleys and favourable terrain provide flexibility for future mine infrastructure, including processing facilities, waste storage and tailings management.
▫️The combination of favourable metallurgy and topography may support efficient project development as engineering studies advance.
BP Silver Corp. - NY, USA
BP Silver Corp. is a Canadian exploration company focused on advancing high-grade silver projects in Bolivia. The Company’s flagship asset, the Cosuño Project, is strategically located in the prolific Bolivian silver belt, a region with a rich mining history and significant untapped discovery potential. With a strong technical team and a disciplined exploration strategy, BP Silver is positioned to unlock value for its shareholders through the discovery and development of major silver deposits.
iFabric - Investor Update Webinar
Join Adelaide Capital for a webinar featuring IFABRIC!
Join us for an update and Q&A with Hylton Karon, CEO, and Giancarlo Beevis, COO of iFabric.
iFabric Corp. is a Canadian-based textile technology company focused on the development and commercialization of proprietary chemical solutions that enhance the performance, functionality, and safety of fabrics and other materials. Through its Intelligent Fabric Technologies (North America) division, the Company provides antimicrobial, water-repellent, and other performance enhancing treatments used across healthcare, apparel, and consumer applications. iFabric’s platform is supported by proprietary formulations, global manufacturing integration, and, in certain applications, clinical validation in real-world environments. The Company also operates Coconut Grove Intimates, a long-standing intimate apparel business that provides stable cash flow and supports the continued growth of its technology platform.
Sierra Madre - Toronto, ON
Sierra Madre Gold and Silver Ltd. is a precious metals development and exploration company focused on the Guitarra mine in the Temascaltepec mining district, Mexico, and the exploration and development of its Tepic property in Nayarit, Mexico. The Guitarra mine is a permitted underground mine, which includes a 500 t/d processing facility that operated until mid-2018 and restarted commercial production in January 2025. The +2,600 ha Tepic Project hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource. Sierra Madre’s management team has played key roles in managing the exploration and development of silver and gold mineral reserves and mineral resources. Sierra Madre´s team of professionals has collectively raised over $1 billion for mining companies.
Mayfair Gold - Investor Update Webinar
Join Adelaide Capital for a webinar featuring MAYFAIR GOLD!
Join us for an update and Q&A with Drew Anwyll, CEO of Mayfair Gold, and Zayem Lakhani VP, Capital Markets.
Mayfair Gold is a Canadian development-stage gold company focused on advancing the 100% controlled Fenn-Gib Project in the Timmins region of Northern Ontario. The 2026 Pre-Feasibility Study (the “PFS”) outlines the potential to develop Fenn-Gib into a new Canadian gold producer, with initial development capital of C$450 million, a base-case payback period of 2.7 years, and cumulative free cash flow of US$896 million over the first six years of production based on a US$3,100/oz gold price. The Company is advancing permitting activities, detailed engineering, and stakeholder engagement with the goal of starting construction in 2028 with initial production in 2030.
SHARC Energy - Investor Update Webinar
Join Adelaide Capital for a webinar featuring SHARC Energy!
Join us for an introductory webinar with SHARC Energy President and CEO, Mike Albertson, and Chairman of the Board, Fred Andriano, to discuss the company’s business strategy, recent developments, growth initiatives, and current market opportunities. Management will also provide an update on recent news and upcoming catalysts, followed by a Q&A session.
SHARC International Systems Inc. is a world leader in energy transfer with the wastewater we send down the drain every day. SHARC Energy’s systems exchange thermal energy with wastewater, generating one of the most energy-efficient and economical systems for heating, cooling & hot water production for commercial, residential and industrial buildings along with thermal energy networks, commonly referred to as “District Energy”. SHARC Energy is publicly traded in Canada (CSE: SHRC), the United States (OTCQB: INTWF) and Germany (Frankfurt: IWIA), you can find out more on our SEDAR profile.
Tantalus Systems - Q1 Earnings Investor Webinar
Join Adelaide Capital for a webinar featuring Tantalus Systems!
About Tantalus Systems: Tantalus is a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data across all their devices and systems deployed throughout the entire distribution grid. They offer a grid modernization platform across multiple levels: intelligent connected devices, communications networks, data management, enterprise applications and analytics. Their solutions provide utilities with the flexibility they need to get the most value from existing infrastructure investments while leveraging advanced capabilities to plan for future requirements. All our technology is grounded in a data-centric approach that is designed to help utilities find the most cost-effective path to grid modernization with the least risk. Ultimately, we deliver Unified Intelligence to utilities of all kinds, so they can leverage data and insights across their entire grid, no matter what devices, systems or vendors they choose to work with. Learn more at http://www.tantalus.com/
Santacruz Silver - Q1 Earnings Investor Webinar
Join Adelaide Capital for a webinar featuring Santacruz Silver!
Santacruz Silver is engaged in the operation, acquisition, exploration, and development of mineral properties across Latin America. In Bolivia, the Company operates the Bolivar, Porco, and Caballo Blanco mining complexes, with Caballo Blanco comprising the Tres Amigos and Colquechaquita mines. The Reserva mine, whose production is provided to the San Lucas ore sourcing and trading business, is also located in Bolivia. Additionally, the Company oversees the Soracaya exploration project. In Mexico, Santacruz operates the Zimapan mine.
Sierra Madre - Investor Update Webinar
Join Adelaide Capital for a webinar featuring Sierra Madre!
Join us for an update with COO Greg Liller and CFO Ken Scott to discuss the Company's latest news and financial results.
Sierra Madre Gold and Silver Ltd. (TSXV: SM) (OTCQX: SMDRF) is a precious metals development and exploration company focused on the Guitarra mine in the Temascaltepec mining district, Mexico, and the exploration and development of its Tepic property in Nayarit, Mexico. The Guitarra mine is a permitted underground mine, which includes a 500 t/d processing facility that operated until mid-2018 and restarted commercial production in January 2025. The +2,600 ha Tepic Project hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource. Sierra Madre´s management team has played key roles in managing the exploration and development of silver and gold mineral reserves and mineral resources. Sierra Madre´s team of professionals has collectively raised over $1 billion for mining companies.
Pan Global Resources - Toronto, ON
Pan Global Resources - Emerging Copper and Gold Discoveries in Spain
TSXV: PGZ | OTCQB: PGZFF | FRA
Market Cap: ~C$48M | Shares Outstanding: ~357M
Presenter: Tim Moody – President, CEO & Director
Why Meet Pan Global Resources
Emerging Copper and Gold Discoveries in Spain
Pan Global is advancing the Escacena Copper Project, located in the Iberian Pyrite Belt, one of the world’s largest copper mining districts with multiple operating mines and established infrastructure, and Europe’s #2 copper producing country. At the company’s Cármenes Project in 2025 they made the first significant gold discovery in Spain in 30 years. Both Projects are being actively drilled today.
Why Attend the Lunch
New Copper Resource with Expansion Potential
The La Romana discovery hosts a maiden mineral resource of:
32.4 Mt Measured & Indicated
4.0 Mt Inferred
Similar grade profile to operating mines in area but with exceptional metallurgical recoveries – more $ per tonne – and near surface open-pittable whereas all other discoveries in IPB are at depths of ~300 meters underground
Confirms a large copper system with potential for further growth.
Active 2026 Drill Program
Pan Global has commenced a multi-target drill program across the Escacena district targeting new discoveries and expanding the gold discovery at Cármenes.
Escacena El Pozo Target Highlights
Large-scale VMS copper target
1.6 km copper at-surface soil anomaly
Coincident geochemistry and geophysical anomalies
Historical mine workings
District-Scale Copper Opportunity
The Escacena project hosts 15+ exploration targets, supporting potential for multiple discoveries and resource expansion, including in the new Escacena South property.
Near-Term Catalysts
10,000 m drill program underway at the Escacena and Cármenes Projects
La Romana resource expansion drilling
El Pozo discovery drilling
Additional district exploration targets
Continued advancement of the Escacena copper district
Cármenes gold target expansion and delineation drilling
Management
Tim Moody – President, CEO & Director
35+ years mining experience; 24 years at Rio Tinto, including Exploration Director and VP Business Development with a track record of multiple discoveries.
Justin Byrd – Chief Financial Officer
Mining finance executive with experience supporting public resource companies and development-stage projects.
Jason Mercier – VP Investor Relations
25+ years investor relations experience across exploration companies and major mining producers.
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