20:11:27 EDT Tue 05 May 2026
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Critical & Specialty Minerals Summary for May 5, 2026

2026-05-05 17:43 ET - Market Summary

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by Will Purcell

The critical and specialty minerals box score for Tuesday was a ho-hum 79-89-142 as the TSX Venture Exchange slid 11 points to 978. Surge Battery Metals Inc. (NILI), which hit 77 cents on Friday, lost another five cents to 63 cents on 1.65 million shares today. There is nothing new, at least since Friday, when Surge touted its hiring of two investor relations and marketing consultants.

Jason Gigliotti's Makenita Resources Inc. (KENY) rose one-half cent to 12.5 cents on 551,000 shares. The company has acquired the 9,500-hectare Serpentinization iron-magnetite project in south-central Saskatchewan that it touts as prospective for iron and magnetite, and which "directly borders" Max Power Mining Corp. (MAXX). (Max Power offers a difficult land position to miss -- it has 2.83 million hectares currently permitted or under application.)

Wait a second, you snort -- Max Power is promoting hydrogen, not iron ore. Indeed so -- and so is Makenita. "This project has a massive footprint in a known area prospective for iron and magnetite," begins Mr. Gigliotti, Makenita's president, adding that "in certain situations when you have large iron formations that are rich in specific minerals, like magnetite, you can stimulate that iron formation to produce naturally occurring hydrogen."

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