Northwire Canada EditionFriday, July 10, 2026
Northwire
AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% OGN 3.45 +2.1% MSA 6.67 +3.7% SGZ 0.040 −11.1% GRSL 0.310 −3.1% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% OGN 3.45 +2.1% MSA 6.67 +3.7% SGZ 0.040 −11.1% GRSL 0.310 −3.1%
Production / Operations Routine +

Corporate Update

Makenita Resources Doubles Saskatchewan Footprint Amidst Cash Burn and Dilution Risks

Executive Summary
  • Land Expansion: Makenita Resources has more than doubled its Serpentinization Iron-Magnetite Project in Saskatchewan from 23,517 to 51,304 contiguous acres.
  • Strategic Proximity: The expanded land package directly borders Max Power Corp (CSE: MAXX).
  • Investor Relations Agreements: Company entered into two new service agreements:
    • Dr. Reuter Resources GmbH for roadshows and digital IR at €6,000/month.
    • Mining.com.au for investor awareness activities at CAD $2,900-$3,900/month.
  • Project Scope: The project is prospective for iron, magnetite, and potential naturally occurring hydrogen production via serpentinization.
  • Share Structure: Company has just over 30 million shares outstanding.
Material Impact
  • Price Reaction: The stock price rose from $0.12 to $0.17 between May 13 and May 14, indicating the market had already priced in the land expansion announced on May 13.
  • Incremental Nature: The May 15 update confirms the May 13 announcement and adds administrative costs (IR contracts) rather than new revenue-generating milestones or assay results.
  • Cost Burden: New IR agreements add approximately CAD $9,000-$12,000 per month in operating expenses to a company with limited cash reserves ($500k total raised recently).
  • Speculative Risk: While doubling the land package is operationally significant for a micro-cap, it remains an unproven project without drill results or resource estimates provided in this release.
  • Verdict: The news is positive but expected following the May 13 headline; the primary impact was already realized in the price action prior to this update.
KENY · Price
Company Overview
  • Flagship Project: Serpentinization Iron-Magnetite Project (Saskatchewan).
    • Current Size: 51,304 contiguous acres.
    • Target Commodities: Iron, Magnetite, Potential Hydrogen.
    • Status: Staking completed; exploration phase pending.
  • Secondary Projects:
    • Sisson West Tungsten Project (New Brunswick): ~9,845 acres, adjacent to operating mine.
    • NTX Rare Earth Project (Quebec): ~9,000 acres.
    • Hector Property (Ontario): 5,542 acres (Cobalt, Silver, Diamonds).
  • Management: Jason Gigliotti (President & CEO).
  • Compliance: Qualified Person statements provided for technical disclosure (NI 43-101 compliant).
Read the original news release →

More from Makenita Resources Inc.