Canadian Energy Metals Corp. said it has completed a proof-of-concept for producing smelter-grade alumina (SGA), the primary feedstock for aluminum metal production, from black shales at its Thor project near Tisdale, Saskatchewan. Tests converting boehmite produced from high-purity alumina and chemical-grade alumina precursors consistently generated samples with the purity and specifications of SGA made through the Bayer process, the current industry standard. CEM also formally began a pre-feasibility study (PFS), which will assess mining, processing and smelting, resources, capital and operating costs, logistics, infrastructure, markets and the project's potential to advance to a feasibility study. The company previously announced a January 2026 proof-of-concept for producing HPA and CGA and filed a preliminary economic assessment (PEA) on SEDAR+ in May 2026. CEM said it is continuing PFS engineering, advanced pilot testing, process optimization and exploration for additional critical metals. The company cautioned that the PEA is conceptual, metallurgical results may not translate to pilot or commercial scale, and product comparisons do not constitute buyer or standards-body certification.