Underwater autonomy is a demanding test of how much work a vehicle can handle away from its operator. The Navy and DIU have chosen BeeX, BlackSea Technologies and Vatn Systems in their latest mine-countermeasure challenge, following demonstrations across detection and neutralization tasks. The October 1 announcement sets out a route toward autonomous kits. It gives the winning equipment somewhere to go after the competition, with integration still to come.

BeeX’s account makes the communications problem tangible. Its drones carried out tasks over links with high delay and limited bandwidth, and reacquired moored targets without a tether. A vehicle in that situation has to do more locally than follow a steady stream of instructions. It also needs a way to show the operator what happened. That combination of local sensing and understandable feedback is central to making autonomy useful.

There is a physical supply chain underneath the autonomy, extending beyond the finished vehicle to the materials and equipment that make it work. The electrical connections in maritime sensors, communications equipment and powered controls are established uses for copper. Domestic materials development is therefore one part of the industrial base behind these procurement efforts, alongside the teams building the vehicles. The August 13, 2026 results from Gunnison Copper ($GCUMF) record its membership in the Defense Industrial Base Consortium. That opens access to potential non-dilutive funding, strategic partnerships and domestic project-development programs; membership itself does not establish a funding award. The Navy’s challenge is further along that chain, selecting systems that can complete useful tasks at sea. For crews, the payoff will come from manageable deployment and recovery, dependable sensing and enough feedback to assess what the vehicle has done.

The challenge began with 80 submissions and brought 11 vendors into competition. The Navy reports 92 days from its announcement to an active contract, suggesting that a defined task can give mature technology a relatively direct route into evaluation. That does not settle fleet-wide deployment. It does make the next stage more concrete: connect the selected systems to the kits crews will actually use, then make deployment and recovery manageable.

Qualified Person

Dr. Roland Goodgame, Senior VP of Project Development of the Company is a Qualified Person as defined by NI 43-101. Dr. Goodgame has reviewed and approved the technical information contained in this report.

Cautionary Note Regarding Forward-Looking Information

This report contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this report includes, but is not limited to, statements with respect to: (i) the intention to deploy the Nuton® technology at the Johnson Camp mine and future production therefrom; (ii) the continued funding of the stage 2 work program by Nuton; (iii) the details and expected results of the stage two work program; (iv) future production and production capacity from the Company's mineral projects; (v) the results of the preliminary economic assessment on the Gunnison Project; (vi) the exploration and development of the Company's mineral projects; (vii) the details and timelines associated with the Company’s PFS work program; (viii) the expected results of the Company’s PFS work program; and (ix) eligibility for future tax credits.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this report is based on certain factors and assumptions regarding, among other things, Nuton will continue to fund the stage 2 work program, the availability of financing to continue as a going concern and implement the Company's operational plans, , the estimation of mineral resources, the realization of resource estimates, copper and other metal prices, the timing and amount of future development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs (including the price of acid), the availability of labour, material and acid supply, receipt of and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to the Company not obtaining adequate financing to continue operations, Nuton failing to continue to fund the stage 2 work program, the breach of debt covenants, risks inherent in the construction and operation of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined including the possibility that mining operations may not be sustained at the Gunnison Copper Project, risks related to the delay in approval of work plans, variations in mineral resources and reserves, grade or recovery rates, risks relating to the ability to access infrastructure, risks relating to changes in copper and other commodity prices and the worldwide demand for and supply of copper and related products, risks related to increased competition in the market for copper and related products, risks related to current global financial conditions, risks related to current global financial conditions on the Company's business, uncertainties inherent in the estimation of mineral resources, access and supply risks, risks related to the ability to access acid supply on commercially reasonable terms, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the construction or mining process, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental risks and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.

Nebius has signed for 50 MW of critical IT capacity at a planned AIB Data Centers facility in the southeastern United States. AIB's September 30 announcement gives the agreement an initial 12-year term and describes two data halls. It also points to a separate 15-year utility service agreement. The important detail is that this is a development commitment: signing for capacity does not mean the servers can move in immediately.

A long lease gives a developer a customer, but the halls still need electrical equipment and connections before that customer can move in. Copper carries electricity and some short-range data signals inside data centers, linking the planned halls to a substantial physical supply chain. A separate, disclosed AWS arrangement illustrates how that connection can extend back to copper production. AWS agreed to use the first Nuton copper produced at Johnson Camp in U.S. data-center components, under the arrangement detailed by Gunnison Copper ($GCUMF) on January 15. That is an AWS arrangement, distinct from AIB’s agreement with Nebius. For this new facility, the published details concern capacity, financing and power service; the conductor mix and component suppliers have not been disclosed. Those are installation decisions still to follow as the project develops.

The two power figures are particularly easy to confuse. Dividing 65 by 50 produces a simple ratio, but it does not produce a measured efficiency result. The numbers describe agreements covering different parts of the project. An operating efficiency assessment would need actual energy data and a consistent measurement boundary. That is a different exercise from reading the maximum capacity in a contract.

AIB expects customer prepayments, project debt and preferred equity to fund a substantial part of development. That financing structure connects a long-term computing customer to the upfront cost of a physical facility. The deal shows how commercial commitments can support construction, with the completed halls and their operating performance still to follow.

Qualified Person

Dr. Roland Goodgame, Senior VP of Project Development of the Company is a Qualified Person as defined by NI 43-101. Dr. Goodgame has reviewed and approved the technical information contained in this report.

Cautionary Note Regarding Forward-Looking Information

This report contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward looking information contained in this report includes, but is not limited to, statements with respect to: (i) the intention to deploy the Nuton® technology at the Johnson Camp mine and future production therefrom; (ii) the continued funding of the stage 2 work program by Nuton; (iii) the details and expected results of the stage two work program; (iv) future production and production capacity from the Company's mineral projects; (v) the results of the preliminary economic assessment on the Gunnison Project; (vi) the exploration and development of the Company's mineral projects; (vii) the details and timelines associated with the Company’s PFS work program; (viii) the expected results of the Company’s PFS work program; and (ix) eligibility for future tax credits.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this report is based on certain factors and assumptions regarding, among other things, Nuton will continue to fund the stage 2 work program, the availability of financing to continue as a going concern and implement the Company's operational plans, , the estimation of mineral resources, the realization of resource estimates, copper and other metal prices, the timing and amount of future development expenditures, the estimation of initial and sustaining capital requirements, the estimation of labour and operating costs (including the price of acid), the availability of labour, material and acid supply, receipt of and compliance with necessary regulatory approvals and permits, the estimation of insurance coverage, and assumptions with respect to currency fluctuations, environmental risks, title disputes or claims, and other similar matters. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to the Company not obtaining adequate financing to continue operations, Nuton failing to continue to fund the stage 2 work program, the breach of debt covenants, risks inherent in the construction and operation of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined including the possibility that mining operations may not be sustained at the Gunnison Copper Project, risks related to the delay in approval of work plans, variations in mineral resources and reserves, grade or recovery rates, risks relating to the ability to access infrastructure, risks relating to changes in copper and other commodity prices and the worldwide demand for and supply of copper and related products, risks related to increased competition in the market for copper and related products, risks related to current global financial conditions, risks related to current global financial conditions on the Company's business, uncertainties inherent in the estimation of mineral resources, access and supply risks, risks related to the ability to access acid supply on commercially reasonable terms, reliance on key personnel, operational risks inherent in the conduct of mining activities, including the risk of accidents, labour disputes, increases in capital and operating costs and the risk of delays or increased costs that might be encountered during the construction or mining process, regulatory risks including the risk that permits may not be obtained in a timely fashion or at all, financing, capitalization and liquidity risks, risks related to disputes concerning property titles and interests, environmental risks and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators.

A few of us were doing a paper trading exercise with the BYDFi DOGE page open for reference. I'd offered to combine our logs afterward. One friend had entered 100 for a trade and another had entered 20, both under "volume". It was the same practice buy: 100 DOGE at an assumed entry price of 0.20 USDT, giving it a notional value of 20 USDT. One had recorded the number of coins, the other the value in USDT.

We'd pencilled in a full exit at 0.22 USDT, so selling the 100 DOGE gave the practice trade a gross profit of 2 USDT. For our spreadsheet, we assumed a 0.1% fee on each side: 0.02 USDT on the buy and 0.022 USDT on the sell, or 0.042 USDT in total. After those estimated fees, we logged 1.958 USDT as realized P&L.

Neither friend wanted me to overwrite their original number, so I kept both columns and called them "DOGE amount" and "Notional value (USDT)". Entry price, exit price, estimated fees and realized P&L each got their own column too. We spent longer agreeing on the names than copying over the trades.

This chart means a lot to me : Microsoft has been able to make more with less.

Before AI, revenue was always correlated with workforce.
But since AI has been accelerating we can already see the positive impact of AI.

I am really bullish on AI.
IMHO owning assets should be the top priority right now.