Usha Resources Ltd. (TSXV: USHA) is a North American critical-metals explorer. Its flagship, drill-ready Southern Arm polymetallic VMS property in Quebec saw an extension to its 2024 ground IP survey completed in Mar 2026. Usha also holds Jackpot Lake, a lithium brine project in Nevada, and White Willow, a lithium pegmatite project in Ontario. Usha has optioned its Rubidium Ridge project to Panther Minerals. A separate Letter of Intent to sell up to 90% of Jackpot Lake to Stardust Power, Inc. (for up to US$26,025,000 total consideration) did not convert to a definitive agreement -- Stardust Power's own 30 Sep 2025 10-Q states the likelihood of reaching definitive agreements 'had diminished significantly.' Jackpot Lake therefore remains a Usha asset.
Notable vs. Peers
- Financials score of 3.3/10 is weaker than the peer average of 5.5/10.
Lifecycle Milestones
Not yet determined: mill, tailings facility, grid power.
Jurisdiction (40%)9/10
Quebec: Fraser PPI 2025 is 79.39 of 100 (rank 23 of 68), which maps to 9 on this site's scale. The flagship Southern Arm property is in Quebec, a Tier-1 Canadian jurisdiction; its secondary Jackpot Lake (Nevada) and White Willow (Ontario) projects are also in low-risk jurisdictions.
Infrastructure (40%)6.4/10
Confirmed road access at Southern Arm Copper-Gold VMS Property, Chibougamau region, Quebec, Canada; existing mill, grid power, and tailings facility not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:1/10
Stage: Grassroots Exploration
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 57% here - JurisdictionSub-score:9/10
Canada: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 26% here - CommoditySub-score:8/10
Primary commodity: Copper
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 17% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
President, Chief Executive Officer, Corporate Secretary and Director of Core Critical Metals Corp. (P.Geo); also President, Chief Executive Officer, Director & Corporate Secretary of Usha Resources Ltd. Seasoned executive and geologist with over 15 years of experience in capital markets and mineral exploration; has raised over $40 million in financing over three years.
Chief Financial Officer of Usha Resources Ltd. (TSXV: USHA); also Chief Financial Officer of Troubadour Resources Inc. Fifteen-plus years of senior finance experience across junior mining and oil and gas issuers. Oversees treasury, audit, regulatory filings and financial reporting for Usha, including SEDAR+ continuous disclosure obligations.
A Director of Usha Resources Ltd. (TSXV: USHA). Over 30 years in exploration and capital markets. Former Head of Corporate Development at Starfield Resources, where he helped finance a major nickel-copper deposit, with decades of experience structuring junior mining transactions and capital markets activity in Canada and internationally. Source: usharesources.com/team.
A Director of Usha Resources Ltd. (TSXV: USHA). A former NHL defenceman and co-founder of ProIce Management, who now focuses on business ventures across wealth management, sports ownership and mining, bringing execution focus and operational experience to the board. Source: usharesources.com/team.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No smart-money tracking (institutional/large-investor activity) for this miner yet — this is a planned feature, not live data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Usha Resources is a North American critical-metals explorer whose flagship is the drill-ready Southern Arm polymetallic volcanogenic massive sulphide property in the Chibougamau region of Quebec, where an extension to its 2024 ground induced-polarization survey was completed in March 2026. It also holds the Jackpot Lake lithium brine project in Nevada and the White Willow lithium pegmatite project in Ontario, and it has optioned its Rubidium Ridge project to Panther Minerals. A letter of intent to sell up to 90% of Jackpot Lake to Stardust Power did not lead to a definitive agreement, so Jackpot Lake remains a Usha asset. No resource estimate has been published for any of its projects.