Pivotal Metals Limited Pivotal Metals Limited is an Australia-based explorer and developer of critical mineral deposits focused on copper, nickel, platinum group metals (PGMs), and associated commodities including gold, palladium, silver, and cobalt. Incorporated in 2017 and formerly known as Rafaella Resources Limited until its name change in November 2022, the company is headquartered in Brisbane, Australia, with primary operations in the top-tier mining jurisdiction of Quebec, Canada, and legacy tungsten-tin projects in Spain. It holds 100% interest in its flagship Horden Lake project, which features a JORC-compliant pit-constrained resource of 27.8 million tonnes at 1.49% copper equivalent grading copper, nickel, palladium, and gold within a shallow open-pit shell up to 250 metres deep, supported by recent metallurgical work derisking by-product credits and offering low-cost starter pit potential alongside substantial open exploration upside at depth and along strike; the Belleterre-Angliers Greenstone Belt (BAGB) project spanning 157 square kilometres with ultra-high-grade nickel-copper-PGM discoveries, targeting a broader intrusive feeder complex for massive sulphide potential based on recent geophysical surveys identifying large conductive anomalies; and additional Quebec assets like Midrim, Laforce, Alotta, and Lorraine, the latter featuring historical bonanza-grade gold intervals such as 28 metres at 45.2 grams per tonne gold from underground channel samples. Recent strategic developments include a $5.4 million institutional-backed capital raising in late 2025 to accelerate exploration across its Quebec portfolio, emphasizing high-grade gold and copper targets at BAGB's Lorraine prospect and regional electromagnetic anomalies amid 14 million tonnes per annum of forecast spare milling capacity from 2028; ongoing technical de-risking and resource expansion drilling at Horden Lake to incorporate silver and cobalt; and a pivot to Canadian critical metals following the transformative 2022 acquisition of Horden Lake funded by $4.3 million raised via placements and convertible securities from Riverfort Global Opportunities PCC Limited, alongside a mandate with Red Cloud Financial Services Inc. to leverage Canadian flow-through share schemes. The company targets battery metals and energy transition markets through advanced-stage assets with low-risk step-out expansion and blue-sky discovery potential in established mining regions featuring highway access and infrastructure proximity.