Minerals Explorer Taps Massive Resource in U.S. Hotspot

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Stillwater Critical Minerals Corp. (PGE:TSX.V; PGEZF:OTCQB; J0G:FSE) announced its participation in THE Mining Investment Event of the North, scheduled to take place in Quebec City from June 3 to 5, 2025. According to the company’s news release dated May 28, 2025, management will engage with investors and industry professionals to discuss developments at its flagship Stillwater West project, located in Montana’s historically productive Stillwater mining district.

The Stillwater West project is adjacent to the producing operations of Sibanye-Stillwater and is considered a potential large-scale domestic source of ten critical minerals identified by the U.S. government. These include platinum, palladium, rhodium, gold, nickel, copper, cobalt, chromium, iridium, and ruthenium. The project is fully owned by Stillwater Critical Minerals and spans a 61-square-kilometer land package with five “Platreef-style” deposits. These are polymetallic mineral systems that contain nickel, copper, cobalt, platinum group elements (PGEs), and gold.

The project’s mineral resource estimate, disclosed in January 2023, outlined 1.6 billion pounds of nickel, copper, and cobalt, and 3.8 million ounces of PGEs and gold. The company noted that its resource base could be expanded at relatively low discovery costs. Drill results from the 2023 campaign, including intercepts such as 401 meters at 0.26% nickel equivalent (NiEq) and 13.2 meters at 2.31% Ni, confirmed the project's scale and grade.

The company’s participation in this investor-focused event follows recent political support for domestic mineral production. On March 20, 2025, the White House issued an executive order titled "Immediate Measures to Increase American Mineral Production." Additionally, on May 2, 2025, the White House listed the adjacent Sibanye-Stillwater operation as one of ten priority mining projects, further underscoring the strategic value of the Stillwater district.

Those interested in meeting with Stillwater CEO Michael Rowley can reach out via https://mineconnect.com/event/the-mining-investment-event-of-the-north-2025/

Critical Minerals Sector: Geopolitical Tensions and Energy Transition Drive Demand

The critical minerals sector has remained central to global industrial and geopolitical strategies in 2025, with increasing demand from clean energy technologies and heightened supply chain vulnerabilities shaping the landscape. According to the World Economic Forum on May 13, critical minerals such as nickel, cobalt, platinum, and copper were described as “fundamental to technologies such as electric vehicles, wind turbines and solar panels.” The organization noted that demand for these minerals must triple by 2030 and quadruple by 2040 to meet net-zero targets.

The Forum explained that while minerals like copper are relatively abundant, the long lead time to develop new mines, often about 20 years, has posed a significant supply risk. Recycling has emerged as a proposed solution, but infrastructure remains insufficient. In the interim, “we still depend heavily on traditional extraction and the associated value chain.”

Regional concentration of processing capacity also played a role in global concerns. For example, the World Economic Forum reported that China refined 44% of the world’s copper and 75% of cobalt. The United States has responded to these risks with policy measures aimed at boosting domestic production, including fast-tracking permits for ten mining projects.

A report from the South China Morning Post, published on May 20, highlighted how China has tightened control over rare earths and other strategic minerals, which has led to smuggling crackdowns and export curbs. The article noted that rare earth elements were vital to U.S. defense systems and that “Beijing has increasingly weaponised this dependency” during trade negotiations. Wang Xiaosong, an economics professor at Renmin University of China, said that rare earths had become “an important, key variable” in the U.S.-China trade tensions, underscoring their strategic importance.

Wang also noted that the United States was “20 years behind China” in rare earth separation and purification technology. While new agreements with countries like Ukraine and exploration of sourcing from Africa have been initiated, experts cited by SCMP emphasized that building the necessary infrastructure would take more than a decade.

On May 27, Stewart Thomson of Graceland Updates wrote that the macroeconomic backdrop had become increasingly favorable for mining equities, particularly junior miners. He stated that “junior mine stock investors are about to embark on a journey that will probably be best described as, ‘The 1970s on steroids’” and pointed to sustained gold strength and rising investor interest in commodities. He added that “most gold bugs have an interest in various commodities and some of these are outperforming the stock market,” which has buoyed sentiment for mining equities more broadly.

Next Steps in Motion: Expansion and Strategic Development

Stillwater Critical Minerals has outlined several upcoming initiatives that may serve as catalysts for project development. As presented in its May 2025 investor deck, the company plans to initiate a drill campaign and update its mineral resource estimate. Expansion efforts will focus on drill-defined targets in the Peridotite Zone, where a 12-kilometer-long geophysical anomaly remains only partially tested. The 2025 program is expected to incorporate results from recent magneto-telluric (MMT) and airborne geophysical surveys, which identified new priority targets.

Strategic backing continues to play a role in project development. Glencore, a global leader in nickel supply, has invested US$7.04 million in the company to date, with the option to invest an additional US$6.76 million. Glencore currently holds a 15.4% equity stake in Stillwater and has appointed a board member as part of the collaboration.

Stillwater is also partnered with Cornell University and Lawrence Berkeley Labs through US$2.75 million in U.S. Department of Energy-funded initiatives focused on carbon sequestration, critical mineral recovery, and geological hydrogen potential. This program supports the broader goal of producing low-carbon critical minerals in the United States. Additional funding and grant applications are underway.

With metallurgical studies and a Preliminary Economic Assessment (PEA) on the horizon, Stillwater Critical Minerals is positioning itself to become a domestic cornerstone in the critical minerals supply chain, supported by government initiatives and industry partnerships.

Ownership and Share Structure

Management and insiders own approximately 20% of Stillwater, according to the company. 

Executive Chairman and Director Gregory Shawn Johnson owns 2.86%, President and CEO Michael Victor Rowley owns 2.56%, Independent Director Gregor John Hamilton owns 1.65%, Independent Director Gordon L. Toll owns 0.44%, and Vice President of Exploration Daniel F. Grobler owns 0.23%, according to Reuters. 

Institutions own approximately 25% of the company, high net-worth investors own about 37%, and Glencore Canada Corp. owns 15.4%. About 18% of the company's shares are in retail, Stillwater said. 

There are about 233 million shares outstanding with 180.5 million free float traded shares, while the company has a market cap of CA$49.93 million and trades in a 52-week range of CA0.0900 - CA0.2250.