Core Insights - Brunswick Corporation (BC) showcased its most extensive marine innovation display at CES, emphasizing its ACES strategy, which stands for Autonomous/Assisted, Connected, Electrified, and Shared [2] Group 1: ACES Strategy - The ACES strategy represents Brunswick's commitment to advancing marine technology through innovation in autonomy, connectivity, electrification, and shared services [2] Group 2: Product Launches - The exhibit included several global debuts, notably the Simrad AutoCaptain, which highlights Brunswick's focus on integrating advanced technology into marine products [2]

Core Insights - Brunswick Corporation showcases its most comprehensive display of marine innovation at CES 2026, emphasizing its ACES strategy (Autonomous/Assisted, Connected, Electrified, Shared) as a commercial reality [1][4] Group 1: Product Launches and Innovations - The highlight of Brunswick's exhibit includes the global debut of the Simrad® AutoCaptain™ autonomous boating system on the new Sea Ray SLX and NAVAN C30 boats [2] - The FLITE RACE high-performance eFoil, developed in collaboration with Mercury Racing, is introduced, setting a new standard in water sports performance with speeds up to 34 mph [3][6] - The Lund Crossover XS, featuring advanced technology from Lowrance and Mercury Marine, is presented as a connected fishing platform with an AI co-pilot for enhanced boating experiences [7] Group 2: Technology Integration - Brunswick's exhibit features AI-driven simulators that replicate real-world boating experiences, showcasing how AI transforms the boating industry [5] - The new Sea Ray SLX model incorporates AI-enabled insights for navigation and interaction, featuring automotive-inspired controls and deep connectivity with Mercury Marine propulsion [5][8] - The NAVAN C30 boat emphasizes accessibility and includes integrated solar panels for powering onboard electronics [8] Group 3: Industry Leadership and Vision - Brunswick's CEO, Dave Foulkes, highlights the company's commitment to showcasing transformative innovation in marine technology, emphasizing the role of AI in enhancing user experiences [4] - The company will also participate in CES Foundry, hosting a panel discussion on the impact of AI on the boating experience [9]

Core Viewpoint - Nine Mile Metals Ltd. has announced positive Certified Assay results for volcanogenic massive sulphide (VMS) mineralization from the Wedge VMS Project in New Brunswick, Canada, indicating high-grade copper mineralization [1][3]. Assay Results - The assay results from various samples show significant copper (Cu) grades, with sample 280462 reporting 15.37% Cu Equivalent (Cu-Eq) and sample 280460 showing 16.64% Cu-Eq [2][15]. - Other notable samples include 280461 with 14.49% Cu-Eq and 280464 with 14.60% Cu-Eq, indicating a consistent presence of high-grade copper sulphide mineralization [3][5][11]. Mineralization Characteristics - The mineralization is characterized as massive and fine-grained, primarily consisting of chalcopyrite and covellite, which adds a high-grade component to the system [3][13]. - The samples were collected from a well-known area near historical mining landmarks, suggesting a promising exploration potential [3][13]. Company Overview - Nine Mile Metals Ltd. is focused on VMS exploration in the Bathurst Mining Camp, with a strategic emphasis on minerals essential for technology and green energy, including copper, silver, lead, and zinc [16]. - The company aims to leverage the growing demand for these metals, particularly in the context of electric vehicles and green technologies [16].

Upgrades - CFRA upgraded Pool Corp. (POOL) to Buy from Hold with a price target of $304 [2] - Piper Sandler upgraded SEI Investments (SEIC) to Overweight from Neutral with a price target of $102, increased from $93, citing SEI as a "clear beneficiary" of the expanding alternatives landscape [2] - TD Cowen upgraded Ametek (AME) to Buy from Hold with a price target of $230, up from $180, noting that backlog remains near highs and is expected to grow [3] Downgrades - TD Cowen downgraded Janus Henderson (JHG) to Hold from Buy with a price target of $49 after the company agreed to be acquired for $7.4 billion or $49.00 per share [4] - Piper Sandler downgraded Clearwater Analytics (CWAN) to Neutral from Overweight with a price target of $24.55, down from $27, following its agreement to be acquired for $24.55 per share in cash [4] - BMO Capital downgraded Brown & Brown (BRO) to Market Perform from Outperform with a price target of $88, down from $90, due to lower consensus organic growth estimates for 2026 [5] - Evercore ISI downgraded Coty (COTY) to In Line from Outperform with a price target of $7, citing a lack of visibility on timing and catalysts for potential value unlock [6] Initiations - Oppenheimer initiated coverage of Spruce Biosciences (SPRB) with an Outperform rating and a price target of $283, supported by FDA confirmation of compelling clinical biomarker data [7] - LifeSci Capital initiated coverage of Sionna Therapeutics (SION) with an Outperform rating and a price target of $60, highlighting multiple quality shots on goal with its therapies [7] - Oppenheimer initiated coverage of Aardvark Therapeutics (AARD) with an Outperform rating and a price target of $35, noting the company's differentiated obesity franchise [7] - JonesResearch initiated coverage of Septerna (SEPN) with a Buy rating and a price target of $43, forecasting $2.5 billion in unadjusted U.S. peak sales in 2035 [7] - Loop Capital initiated coverage of Malibu Boats (MBUU) with a Buy rating and a price target of $34, indicating the marine industry is in the late stages of inventory rationalization [7]

Core Insights - Cadillac Ventures Inc. has sold an initial 29.58% interest in the Burnt Hill Tungsten Project to Nexcel Metals Corp. for a total consideration of $170,000 in cash and $330,000 in common shares, resulting in the issuance of 355,775 shares at a deemed price of $0.78 per share [1][2]. Group 1: Transaction Details - The Optionee can earn an additional 28.42% interest in the Property, bringing the total potential interest to 58%, by paying $250,000 in cash and issuing $600,000 in common shares to Cadillac [2]. - A joint venture will be established among Cadillac, the Optionee, and the Minority Owner once the Optionee earns at least a 51% interest in the Property [2]. Group 2: Share Issuance and Restrictions - The 355,775 common shares issued to Cadillac are subject to a hold period that expires on April 9, 2026, with additional voluntary resale restrictions on 15% of the shares until specified dates in 2026, 2027, and 2028 [3]. - 10% of the common shares issued will not be restricted but are subject to the statutory hold period [3]. Group 3: Regulatory Approval - The agreement is contingent upon approval from the TSX Venture Exchange [4].

Core Viewpoint - Nine Mile Metals Ltd. has announced positive Certified Assay results for volcanogenic massive sulphide (VMS) mineralization from the Wedge VMS Project, indicating significant potential for copper and other metals in the area [1][12]. Summary by Relevant Sections Company Overview - Nine Mile Metals Ltd. is a Canadian public mineral exploration company focused on VMS exploration in the Bathurst Mining Camp, New Brunswick, with a primary objective to explore four VMS Projects [12]. Assay Results - The assay results from ALS Global show high-grade copper mineralization, with notable samples including: - Sample 280366: 15.21% CuEq - Sample 280370: 9.82% CuEq - Other samples also show varying grades of copper, zinc, gold, and silver [2][14][11]. Historical Context - The Wedge mine, operational from 1962 to 1968, produced 1.5 million tonnes of predominantly copper ore, with expectations that over 60% of the deposit remains unmined [1]. Exploration Insights - The surface samples collected reflect the copper-rich nature of the Wedge, with early drill core observations being encouraging [9][10]. - The company is actively engaged in drilling and sampling, with a focus on expediting assay results [9][10]. Technical Analysis - The primary analytical method for the samples involves multi-element ICP analysis, with additional ore grade analysis triggered for overlimit results [2]. - Copper Equivalent (Cu-Eq) calculations are based on current metal prices and assume an 80% recovery rate for all metals [11].

Core Viewpoint - Brunswick Corporation is well-positioned for a recovery in the marine market, with expectations for increased consumer spending on leisure items by 2026 [2]. Financial Performance - In Q3 2025, Brunswick reported revenue of $1.36 billion, reflecting a 6.8% increase year-over-year [3]. - The company's free cash flow reached $111 million in Q3, totaling $355 million year-to-date, which facilitated $70 million in share repurchases and an increased debt reduction target of $200 million [4]. Market Position - Brunswick is the largest producer of recreational marine products, indicating a strong market presence [2]. - The marine market is characterized as highly cyclical, suggesting that current conditions may present a strategic entry point for investors [2]. Segment Performance - Boat retail sales remained flat year-over-year, showing improvement compared to the first half of the year, while Freedom Boat Club contributed approximately 13% to segment sales [3].

Core Insights - Makenita Resources Inc. has more than doubled its landholdings in the Sisson West Tungsten Project, now totaling approximately 9,400 contiguous acres, which is prospective for tungsten and borders the Sisson Tungsten Mine [1][2] - The Sisson Tungsten Mine has been designated as one of the first "Nation-Building Projects" by Canadian Prime Minister Mark Carney, highlighting its strategic importance [1][2] - The price of tungsten has increased over 100% this year, reaching near-year highs, which positions Makenita favorably for growth in 2026 [2] Company Developments - The new acreage for the Sisson West Tungsten Project was acquired through staking, indicating proactive expansion efforts by the company [6] - Makenita Resources has a small share count of just over 30 million, which may enhance shareholder value as the company progresses with its projects [2] Market Context - The significant rise in tungsten prices, coupled with the strategic designation of the Sisson Tungsten Mine, suggests a favorable market environment for Makenita Resources [2]

Core Insights - Makenita Resources has more than doubled its landholdings in the Sisson West Tungsten Project, now totaling approximately 9,400 contiguous acres, which are prospective for tungsten and border the Sisson Tungsten Mine [1][2] - The Sisson Tungsten Mine was recently designated as one of Canada's first "Nation-Building Projects" by Prime Minister Mark Carney, indicating governmental support for the mining sector [1][2] - The price of tungsten has increased over 100% this year, reaching near-year highs, which positions Makenita favorably for growth in 2026 [2] Company Developments - The new acreage was acquired through staking, reflecting the company's strategic expansion in a promising mining area [6] - Makenita Resources has a small share count of just over 30 million, which may enhance shareholder value as the company progresses with its projects [2] Industry Context - The designation of the Sisson Tungsten Mine as a "Nation-Building Project" suggests a favorable regulatory environment for mining operations in Canada, potentially benefiting companies like Makenita [1][2] - The significant rise in tungsten prices may attract more investment and interest in tungsten mining projects, indicating a positive trend for the industry [2]

Core Points - Mercury Marine has entered into a new five-year exclusive supply agreement with Axopar Boats, reinforcing their long-standing partnership and commitment to enhancing the boating experience globally [1][3] - The collaboration emphasizes innovation and high performance, with Mercury's outboard engines being the exclusive power choice for Axopar's expanding fleet [3][2] - Axopar is set to showcase the Axopar 38 at the Dusseldorf Boat Show, powered by Mercury's twin 350hp V10 outboards, highlighting advancements in power and design [4] Company Overview - Mercury Marine is a leading manufacturer of recreational marine propulsion engines and is a division of Brunswick Corporation [5] - The company offers a wide range of products including outboard engines, sterndrive and inboard packages, propellers, inflatable boats, and marine parts distribution [5] - Mercury Marine is recognized for its reliability and customer support, aiming to empower boaters with user-friendly and dependable products [5]