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Flow Metals offers high-leverage exposure to gold and copper discoveries in Canada’s most prolific mining jurisdictions. The fully permitted and drill ready projects are part of a strategic expansion into Tier 1-scale targets in the Yukon’s iconic Dawson Mining District.

Overview

Flow Metals (CSE:FWM) is a mining exploration company with assets in established mining districts in Canada. It holds 100 percent ownership in 3 projects, including the Sixtymile gold project, recently optioned the Monster iron-oxide-copper-gold project in Yukon and the New Brenda project in the copper-rich British Columbia Quesnel terrane.

The company’s primary strategy focuses on developing projects with robust comparables demonstrating proven paths to success, significantly reducing exploration costs and logistical barriers. By applying modern structural interpretations and high-resolution geophysics to underexplored assets, Flow Metals aims to identify the bedrock sources of some of Canada’s most storied placer gold and copper-rich districts.

The company is led by a management and technical team with extensive experience in the Yukon and British Columbia, including a history of successful project divestment, such as the sale of the Wels Gold project. This track record is supported by strong local relationships, including a 10-year permit achieved through collaborative engagement with the Yukon Government and the Tr’ondëk Hwëch’in First Nation. Flow Metals remains focused on creating shareholder value through a lean corporate structure and aggressive, permit-ready exploration programs.

Company Highlights

  • Discovery-Driven Strategy: Modern geological reinterpretation at Sixtymile has identified a 9-kilometre thrust fault corridor and a fold-controlled orogenic model, narrowing targets for high-grade lode gold sources.
  • Strategic Mining Jurisdictions: Focus on high-potential, road-accessible gold and copper projects in the Yukon’s Tintina Gold Belt and British Columbia’s Quesnel Terrane.
  • Tier-1 Exploration Upside: Recently optioned the Monster Project in the Yukon, a discovery-stage IOCG (iron oxide-copper-gold) target with surface samples grading up to 22.3 percent copper and 9.6 percent cobalt.
  • 10-Year Exploration Permit: Newly secured Class 3 permit at the flagship Sixtymile Gold Project, authorizing up to 100 drill holes annually and enabling long-term systematic exploration.
  • Low Overhead, High Ground Impact: Projects feature existing infrastructure, including road access and local placer mining equipment, ensuring exploration budgets are directed primarily into the ground.
  • Highly-experienced management team: Chairman Don Sheldon has over 30 years of experience working with issuers, while Director Scott Sheldon brings exploration expertise, credited with the Wels Gold discovery in Yukon and the HSP nickel-copper sulphide project in Quebec.

Key Projects

Sixtymile Gold Project

Flow Metals’ flagship Sixtymile gold project is located approximately two hours west of Dawson City, Yukon. It is situated about 20 minutes from the Top of the World Highway and is road accessible.

The company has held ownership of the project since 2018, with a recent 10-year drilling permit from the Yukon government received in late 2025. The permit allows annual drilling of a maximum of 100 holes within the period, alongside five kilometers of trenching and road upgrades.

Historically, Sixtymile’s four gold-bearing creeks have collectively produced more than 200,000 ounces of placer gold since the Yukon gold rush of the late 19th century.

Technical updates in 2026 confirmed a fold‑controlled orogenic gold model, with gold‑bearing quartz veins concentrated in antiformal fold geometries, providing a refined structural framework for drill targeting.

New Brenda Project

The New Brenda Project covers a 51.3squarekilometer land package in southern British Columbia’s prolific Quesnel Terrane, one of Canada’s most productive copper‑gold districts. Strategically situated between the past‑producing Brenda Mine and the active Elk Mine, the project benefits from direct road access and proximity to established infrastructure, reducing exploration risk and costs.

The Quesnel Terrane hosts a number of porphyry copper-gold with silver and or molybdenum deposits and mineral prospects. New Brenda’s Xenolith Porphyry (XP) target benefits from this scale, with two major anomalous zones outlined: one stretching an impressive 2,000 meters across, and another spanning more than 1,000 meters with elevated copper, molybdenum, silver and arsenic values. Highly anomalous copper samples were discovered 780 meters to the southeast, expanding the mineralized footprint and hinting at a much larger system waiting to be tested.

The 2025 exploration program reinforced this potential. Test samples, including drill core collected roughly 80 meters northeast of the N1 showing, returned consistently elevated molybdenum values ranging from 2.2 to 7.4 ppm. These results, combined with kilometer‑scale anomalies, suggest a robust porphyry system with multiple mineralized centers.

Monster IOCG project

Located approximately 90 kilometers north of Dawson City, the Monster IOCG project was acquired by Flow Metals from Go Metals as part of its goal to build a premier exploration portfolio.

The project is at the discovery stage, with surface sampling already returning high‑grade copper and cobalt mineralization. Grab samples have returned results up to 22.3 percent copper and 9.6 percent cobalt. To date, 45 grab samples across the project met the strongly mineralized threshold. Three priority targets have been identified namely Bloom, Arena, and Beast, each ranging between 1,300 and 3,500 meters in width.

Flow Metals believes that the acquisition represents a Tier 1–scale opportunity and positions it with meaningful exposure to both gold and copper, reinforcing its belief in Yukon’s “exceptional mineral potential”.

Management Team

Don Sheldon, MBA – Chairman

Bringing over 30 years of experience working with reporting issuers, Sheldon has had an extensive career managing and raising capital for junior resource companies. He has also held positions with Range Oil & Gas, Shoal Point Energy, Castle Rock Minerals, and Pure Gold.

Brian Murray – Director

Murray has worked as a Chartered Professional Accountant in Ontario since 1973. He has worked with reporting issuers for more than 20 years and is also CFO and a Director with Sea Green Capital Inc. From January 2008 to date, Murray has also served as President and Director of Nebu Resources Corp., a TSXV-listed company engaged in the acquisition, exploration and development of mineral properties in Canada.

Harley Slade – Director

A professional geologist who joined Flow Metals in 2018, Slade has since provided his geological expertise for the company’s exploration efforts, including programs for the Sixtymile and New Brenda projects. He is also currently the President of Caveman Exploration.

Scott Sheldon – Director

Scott Sheldon’s first work with junior exploration dates back to the early 1990s. He later became a provider of web services and campaign management to various junior miners in Vancouver. He holds strong exploration knowledge in Canadian mining districts as President of Go Metals Corp., the company responsible for the Wels Gold discovery south of the Yukon White Gold district and the HSP nickel-copper sulphide project in Quebec.

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ThreeD Capital Inc. (‘ThreeD’ or the ‘Company’) (CSE:IDK OTCQX:IDKFF) a Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors, is excited to announce additional YouTube interviews with certain portfolio companies of ThreeD.

Already uploaded on ThreeD’s YouTube channel are several recent interviews with companies such as AI/ML Innovation Inc. (CSE: AIML), Neurable Inc., Hypercycle, and TODAQ Micro Inc,. to name a few.

In the coming weeks ThreeD plans to complete additional interviews with portfolio companies, including with Forte Minerals Corp. (‘Forte Minerals’) (CSE: CUAU,OTC:FOMNF). Forte Minerals is a Canadian exploration company with copper and gold assets in Peru. Forte Minerals recently provided updates on its operations referenced in its press release dated November 26, 2025 and its press release dated February 24, 2026.

The companies noted above do not represent all of ThreeD’s portfolio holdings. The holdings of securities of investees by ThreeD are managed for investment purposes. ThreeD could increase or decrease its investments in these companies at any time, or continue to maintain its current position, depending on market conditions or any other relevant factor.

About ThreeD Capital Inc.

ThreeD is a publicly-traded Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors.  ThreeD’s investment strategy is to invest in multiple private and public companies across a variety of sectors globally. ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services and access to the Company’s ecosystem.

For further information:

Jakson Inwentash

Vice President Investments
jinwentash@threedcap.com
Phone: 416-941-8900 ext 107

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking statements. Often, but not always, these forward looking statements can be identified by the use of words such as ‘estimate’, ‘estimates’, ‘estimated’, ‘believes’, ‘hopes’, ‘potential’, ‘open’, ‘future’, ‘assumed’, ‘projected’, ‘used’, ‘detailed’, ‘has been’, ‘gain’, ‘upgraded’, ‘offset’, ‘limited’, ‘contained’, ‘reflecting’, ‘containing’, ‘remaining’, ‘to be’, ‘periodically’, or statements that events, ‘could’ or ‘should’ occur or be achieved and similar expressions, including negative variations.

Forward-looking Statements involve 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 results, performance or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among others, risks relating to the prospectivity of the Company’s investments, determinations of the Company to increase or decrease its investment in any given investee from time to time, and such risks detailed from time to time in the Company’s filings with securities regulators and available under the Company’s profile on SEDAR at www.sedarplus.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of management. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on forward-looking statements.

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(TheNewswire)

Secures Equity, Cash, and Ongoing Upside Exposure

Vancouver, British Columbia, February 26th, 2025 TheNewswire – Prismo Metals Inc. (‘Prismo’ or the ‘Company’) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to announce that it has entered into a definitive  assignment agreement (the ‘Agreement’) with Blade Resources Inc. (‘Blade’) pursuant to which Prismo has agreed to assign all of its rights, interests and obligations in the Hot Breccia copper project, located  in the heart of the Arizona copper belt (the ‘Transaction’), to Blade. The Transaction is expected to close on or about March 2, 2026, or such other date as the Company and Blade may agree.

In consideration for the Transaction, Prismo will be issued 6,755,000 common shares of Blade and will receive a cash payment of $185,000. Following completion of the Transaction, Prismo will own approximately 24% of Blade’s issued and outstanding shares and will be Blade’s largest single shareholder (see additional early warning disclosure below).

Alain Lambert, CEO of Prismo, commented: ‘In our opinion, Hot Breccia is one of the best copper exploration opportunities in North America. Since optioning the project in January 2023, we have remained committed to advancing it toward drilling. After carefully evaluating our options – including funding a drill program internally, partnering with a major, or joining forces with like-minded explorers – we have concluded that the best way forward for Prismo is the latter hence this partnership with Blade.’ He added: ‘The principals and financial backers of Blade have a long history and strong track record in raising significant capital for exploration programs of the scale required at Hot Breccia.’

Strategic Rationale

The Transaction provides several strategic benefits:

Value Creation: Prismo is leveraging its investments in Hot Breccia into a significant stake in a company dedicated to advancing the Hot Breccia project.

Access to Capital with Limited Dilution: The structure provides enhanced access to capital for the Hot Breccia drill program through Blade, without direct dilution to Prismo shareholders.

Strategic Focus: Prismo will focus on advancing its remaining Arizona projects — Silver King and Ripsey Gold — while Blade dedicates its efforts to advancing Hot Breccia.

Enhanced Attractiveness to Strategic Partners: With the potential for 100% ownership of Hot Breccia, Blade will be in a better position to possibly attract majors or strategic buyers.

Prismo’s Investment in Blade

Regarding Prismo’s investment in Blade, Mr. Lambert said: ‘We see several potential pathways for our investment: holding it long term, monetizing a portion to fund other projects, distributing shares to our shareholders, or a combination of these last two approaches. At this time, we are entering this transaction with a long-term perspective. Successful development at Hot Breccia would have meaningful implications for shareholder value.’

Additional Prismo Rights under the Transaction

Under the terms of the Transaction:

  • Prismo has the right to nominate one representative to Blade’s board of directors. The Company has not yet determined its initial nominee. 

  • Blade has granted Prismo participation rights in future equity offerings, allowing Prismo to subscribe for shares on substantially the same terms as other investors in order to maintain its undiluted ownership percentage in Blade. 

Dr. Linus Keating, manager of Walnut Mines LLC, the underlying landowner of Hot Breccia enthusiastically commented: Walnut Mines strongly supports any initiative that advances Hot Breccia toward a serious drill program. We are optimistic that this transaction will help achieve that objective in 2026. In our view, this property continues to represent an excellent copper exploration opportunity in North America.

Early Warning Disclosure

This news release is issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. Prior to the Transaction, Prismo did not own any common shares of Blade. The common shares of Blade will be acquired by Prismo for a total consideration of $2,364,250 and will be acquired for investment purposes with a view to Blade’s potential listing on a Canadian stock exchange.

Except as described in this news release, Prismo has no present plans or intentions that relate to or would result in any of the matters enumerated in paragraphs (a) through (k) of Item 5 of Form 62-103F1.

Prismo will file an early warning report in accordance with applicable securities laws, which will be available under Blade’s profile on SEDAR+ at www.sedarplus.ca . A copy of the early warning report may be obtained by contacting Gordon Aldcorn at the contact details below.

About the Hot Breccia Project

The Hot Breccia project lies at the heart of the Arizona Copper Belt, which hosts several globally significant porphyry copper deposits.  Examples of these significant deposits are Freeport McMoRan’s Miami-Inspiration mining complex, BHP’s San Manuel mine, Rio Tinto and BHP’s Resolution deposit and others (see Figure 1).  

Figure 1. Location of the Hot Breccia Project in the Arizona Copper Belt.

Note that the Company and its qualified person have not been able to independently verify the information on these producing mines, and that the information is not necessarily indicative of the mineralization on the Hot Breccia project.

About Prismo Metals Inc.

Prismo (CSE: PRIZ,OTC:PMOMF, OTCQB: PMOMF) is a mining exploration company focused on advancing its Silver King, Ripsey and Hot Breccia projects in Arizona and its Palos Verdes silver project in Mexico.

About Blade Resources Inc.

Blade Resources is a private mining exploration company focused on development of North American copper and precious metals projects.

Please follow @PrismoMetals on , , , Instagram, and

Prismo Metals Inc.

1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6  Phone: (416) 361-0737

Contact:

Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com

Gordon Aldcorn, President gordon.aldcorn@prismometals.com

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information relates to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as intends’ or anticipates‘, or variations of such words and phrases or statements that certain actions, events or results may’, could’, should’, would’ or occur’. This information and these statements, referred to herein as ‘forward‐looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the anticipated closing and closing date of the Transaction; the strategic rationale and potential upside of the transaction with Blade,  the future development of the Hot Breccia project and Blade’s ability of Blade to successfully implement its strategic and business objectives, including potentially attracting majors or strategic buyers; and the ability of Prismo to fund its exploration activities on its other projects.

These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: that the Transaction may not close as anticipated, or at all; delays incurred by Blade in obtaining or failure to obtain appropriate funding to finance the exploration program at Hot Breccia; the inability of Blade to successfully acquire a 100% interest on the Hot Breccia project; delays incurred by the Company in obtaining or failure to obtain appropriate funding to finance exploration programs for its other projects; the risk that mineralization will not be as anticipated at the Hot Breccia project or at the Company’s other projects; metal prices; market uncertainty; and other risks and uncertainties application to exploration activities and the Company’s business as set forth in the Company’s disclosure documents available for viewing under the Company’s profile on SEDAR+ at www.sedarplus.com.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the timeline for closing the Transaction will be as anticipated; the Transaction will close; the ability to raise capital to fund exploration programs at Hot Breccia or on the Company’s other projects, and the timing of such exploration programs; the ability of Blade to complete the option to acquire a 100% interest in the Hot Breccia project and to successfully carry out its business and strategic objectives following completion of the transaction; and that the Hot Breccia project and the Company’s other projects will have the anticipated mineralization and other qualities.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

Copyright (c) 2026 TheNewswire – All rights reserved.

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Perth, Australia (ABN Newswire) – Basin Energy Limited (ASX:BSN) (OTCMKTS:BSNEF) announced that it has now executed a Mineral Rights Purchase and Sale Agreement (‘MRPSA’) with Green Canada Corporation Inc (‘GCC’), a 54% owned subsidiary of PTX Metals Inc. (TSXV: PTX) (‘PTX’) to sell the Marshall Uranium Project (‘Marshall’), located in Saskatchewan, Canada. This follows the binding letter of intent, as announced on the 24th November 2025.

Key Highlights

– Mineral Rights Purchase and Sale Agreement executed, advancing Basin’s sale of 100% of the Marshall Uranium Project to Green Canada Corporation Inc (‘GCC’).

– GCC progressing toward public listing on Canadian Stock Exchange, in conjunction with a reverse takeover of Maackk Capital Corp.

– Basin will receive consideration of up to:

o C$600,000 payable in cash in four equal annual instalments;

o C$300,000 payable in shares over three equal annual instalments; and

o 9.99% of the total issued capital of the newly listed entity.

– Basin retains strong upside optionality, including a 25% project level buyback option and threeyear Right of first refusal (ROFR) on any future sale.

– Basin and CanAlaska Uranium Ltd (CVE:CVV) (‘CanAlaska’) have also granted GCC a 9-month exclusivity for the North Millennium Project.

The transaction is now conditional primarily on the proposed Reverse Takeover (‘RTO’) by GCC of Maackk Capital Corp (‘MAACKK’) and concurrent minimum C$2.5 million financing and admission to the Canadian Securities Exchange (‘CSE’) or such other stock exchange as may be mutually agreed upon by the parties.

In addition to the Marshall agreement, Basin and CanAlaska have agreed to grant GCC a 9-month exclusivity right to conduct due diligence and, if satisfactory, negotiate the terms of an earn-in option to acquire up to a 51% interest in the North Millennium joint venture project of CanAlaska and BSN.

Managing Director, Pete Moorhouse commented:

‘The execution of the definitive agreement marks a key milestone in unlocking value from the Marshall Uranium Project, while maintaining meaningful upside exposure for Basin shareholders.

With GCC progressing toward its public listing and associated financing, we are pleased to see a clear pathway toward funded exploration and drill testing at Marshall in the near term. Importantly, Basin retains leverage and upside through our equity interest, buyback option and right of first refusal, ensuring continued alignment with the project’s success.’

Terms of the Deal

In consideration, GCC has agreed to the following payments to Basin:

– C$600,000 payable in cash in four equal annual instalments, with the first payment due on closing of the transaction;

– C$300,000 payable in shares, issuable in three equal annual instalments based on the 5-day Volume-Weighted Average Price on the business day immediately preceding the date of issuance; and

– 9.99% of the total issued and outstanding resulting issuer shares on a non-diluted basis after giving effect to the concurrent financing at the time of closing of the proposed RTO, subject to 12-month escrow.

Basin will receive an additional 400,000 shares in the resulting issuer upon closing of the RTO in return for granting the 9-month exclusivity right in the North Millennium joint venture.

Basin will have a right of first refusal on any sale of the Marshall Project by GCC for a period of three years following the closing date of the transaction. In addition, Basin will retain a repurchase right to acquire from GCC a 25% interest in the Marshall Project for C$1,000,000 for a period commencing on the closing date and ending on the earlier of: the date that is five years from the closing date or the date on which GCC has incurred total exploration expenditures of C$10,000,000 on the Marshall Project.

Pursuant to the terms of the MRPSA, GCC is required to fund exploration expenditures for an initial work program on the Marshall Project to be carried out within twenty-four months from the closing. The Initial Work Program will have a budget in an amount that is the greater of C$1,500,000, and the minimum amount required to maintain the mineral claims comprising the Marshall Project in good standing under applicable governmental regulations.

Basin will also have the right to nominate one director to the board of the resulting issuer.

GCC will retain the right to withdraw from the transaction at any time after the closing of the transaction, in which case the project will return to Basin and no further payments will be required.

The Company has considered the application of ASX Listing Rule 11.4(a) and considers it does not apply.

About Green Canada Corporation

GCC is a 54% owned subsidiary of PTX Metals Inc. (CVE:PTX) and a uranium exploration company with a portfolio of projects located in Thelon Basin, Nunavut, the Athabasca Basin, Saskatchewan and Quebec. Concurrent to the LOI to acquire Basin’s Marshall project, GCC announced that it has entered into a binding letter of intent with MAACKK pursuant to which GCC and MAACKK intend to complete a transaction that would result in a reverse take-over of MAACKK by the shareholders of GCC (the ‘Proposed RTO’). Closing of the Proposed RTO will be subject to, among other things, requisite regulatory approval for the listing of the resulting issuer of the Proposed RTO (the ‘Resulting Issuer’) on the Canadian Securities Exchange or such other stock exchange as may be mutually agreed upon by the parties, along with completion of concurrent financing and execution of the definitive agreements in respect of the acquisition of the Marshall project.

Upon completion of the Proposed RTO, the current directors and officers of MAACKK will resign and it is anticipated that the board of directors of the Resulting Issuer will be reconstituted to consist of Richard J. Mazur, Greg Ferron, Olivier Crottaz and a representative from the Basin.

About the Marshall and North Millennium Projects

The Marshall project is 100% owned by Basin, and the North Millennium Project is under joint venture agreement on a 40:60 basis with CanAlaska.

The Marshall and North Millennium projects are located less than 11 km from Cameco Corporation’s Millennium deposit (104.8Mlb at 3.8% U3O8) and around 40 km from the prolific McArthur River uranium mine, one of the world’s highest-grade uranium operations, refer to Figure 1*. Both projects are deemed prospective for unconformity style uranium exploration.

In 2024, ground electromagnetics (‘EM’) at Marshall identified three main targets which confirms the geological and exploration model. Of note is Target 1, refer to Figure 2*, where modelled EM plates below the unconformity align with a sandstone Z-Tipper Axis Electromagnetic (‘ZTEM’) anomaly, which is interpreted to be alteration within sandstone. The identification of these targets is encouraging and consistent with regional trends in the southeastern Athabasca and provides increased confidence in drill hole targeting.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/R3LUUKE8

About Basin Energy Ltd:

Basin Energy Ltd (ASX:BSN) (OTCMKTS:BSNEF) is a green energy metals exploration and development company with an interest in three highly prospective projects positioned in the southeast corner and margins of the world-renowned Athabasca Basin in Canada and has recently acquired a significant portfolio of Green Energy Metals exploration assets located in Scandinavia.

Source:
Basin Energy Ltd

Contact:
Pete Moorhouse
Managing Director
pete.m@basinenergy.com.au
+61 7 3667 7449

Chloe Hayes
Investor and Media Relations
chloe@janemorganmanagement.com.au
+61 458619317

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Vice President JD Vance announced Wednesday that the Trump administration is temporarily halting Medicaid funding to the state of Minnesota, giving Democratic Minnesota Gov. Tim Walz 60 days to clean up how the state doles out funding. 

‘We have decided to temporarily halt certain amounts of Medicaid funding that are going to the state of Minnesota in order to ensure that the state of Minnesota takes its obligations seriously to be good stewards of the American people’s tax money,’ Vance said Wednesday in a press event attended by Administrator for the Centers for Medicare & Medicaid Services Mehmet Oz. 

The announcement comes after President Donald Trump railed against fraud in the Gopher State Tuesday evening in his State of the Union address. 

The administration and Congress have zeroed in on rampant abuse of federal taxpayers’ funds since December 2025, when details of Minnesota’s fraud surrounding social programs and welfare programs stretching back to the COVID-19 pandemic first came under the national spotlight. Investigators have since estimated the Minnesota scheme could top $9 billion. 

Trump pointed to his vice president as leading the administration’s ‘war on fraud’ amid his State of the Union remarks. 

Vance explained Wednesday that ‘we are stopping the federal payments that will go to the state government until the state government takes its obligations seriously to stop the fraud that’s being perpetrated against the American taxpayer.’

The vice president continued that officials have verified that a program in Minnesota intended to provide after-school care to autistic children actually benefited fraudsters. 

‘A lot of people are getting rich off the generosity of American taxpayers,’ Vance said. ‘But more fundamentally, and more importantly than that, it means that there are kids in Minnesota who deserve these services, who need these services, and they’re not going to those kids. They’re going to fraudsters in Minneapolis. That is unacceptable. And that’s the sort of thing that we’re cutting off with this action today.’ 

Oz added that it is that the pause marks ‘the largest action against fraud that we’ve ever taken’ at the Centers for Medicare & Medicaid Services, before launching into how the administration is deferring funds to the state.

‘It’s going to be $259 million of deferred payments for Medicaid to Minnesota, which we’re announcing as I speak, to Governor Walz and his team,’ Oz said. ‘That’s based on an audit of the last three months of 2025. Restated: a quarter billion dollars is not going to be paid this month to Minnesota for its Medicaid claims.’ 

‘We have notified the state and said that we will give them the money, but we’re going to hold it and only release it after they propose and act on a comprehensive corrective action plan to solve the problem,’ Oz said. ‘If Minnesota fails to clean up the systems, the state will rack up $1 billion of deferred payments this year.’

Walz has 60 days to respond to a letter Oz and the administration sent to Walz on the matter, Oz said. 

Fox News Digital reached out to Walz’s office Wednesday afternoon for comment and has yet to receive a reply. 

Oz continued that he believes Walz will take the matter seriously, and noted fraud is not exclusive to Minnesota, but also other states. 

‘These schemes disproportionately involve immigrant communities,’ Oz continued. ‘They’re insulated, they’re able to … organize efforts, and sometimes they don’t understand what’s going on.’ 

Vance added that the administration does not want to make this move, but it is needed due to Minnesota being ‘careless with federal tax dollars.’

‘All we need the governor and the administration of Minnesota to do is something quite simple, which is to show that before you give Medicaid funds to somebody, you’re taking seriously whether they provided the services that they say that they’re providing,’ the vice president said, calling the fraud a ‘disgrace.’

Trump spotlighted the fraud in his State of the Union address Tuesday, underscoring that while Minnesota has taken the spotlight, schemes run deep in other states as well. 

‘When it comes to the corruption that is plundering — it really, it’s plundering America — there’s been no more stunning example than Minnesota, where members of the Somali community have pillaged an estimated $19 billion from the American taxpayer,’ Trump said. ‘Oh, we have all the information.’ 

‘And in actuality, the number is much higher than that, and California, Massachusetts, Maine and many other states are even worse. This is the kind of corruption that shreds the fabric of a nation, and we are working on it like you wouldn’t believe,’ he continued, before naming Vance as the administration leader taking on fraud. 

Related Article

JD Vance spearheads ‘war on fraud,’ promises to root out taxpayer money ‘stolen’ by illegal immigrants
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Independent Sen. Bernie Sanders and Republican Sen. Markwayne Mullin were involved in a heated back and forth during a Senate hearing Tuesday that sparked immediate reactions across social media.

‘Everybody we bring up here, you guys chastised for trying to make changes,’ Mullin said during a Senate Committee on Health, Education, Labor and Pensions hearing on Wednesday. The committee was discussing issues with Obamacare during a hearing on the nomination of Casey Means as U.S. Surgeon General.

‘God forbid we change and try to fix our broken system,’ Mullin continued. ‘Anyway, I ranted too long.’

As Mullin was attempting to return to the topic, he was cut off by Sanders, who said, ‘Yes, you did.’

Mullin responded, ‘I’m sorry, I didn’t ask your opinion on that and if I cared about your opinion I would ask you. But I don’t care about your opinion. You’re part of the system. You’re part of the problem. You’ve been sitting here longer than I’ve even been alive. This is your problem. You should have fixed this a long time ago. You’ve been railing on it for so long. What have you been doing?’

Sanders responded by sarcastically saying, ‘I decided not to run for surgeon general, you’re the nominee I’ve decided.’

‘That is definitely something we would never accept,’ Mullin said before moving on.

The exchange was quickly picked up by conservatives on social media, including from ‘Charlie Kirk Show’ executive producer Andrew Kolvet, who wrote in a post on X that ‘things did not end well for the octogenarian socialist’ after he took a ‘cheap shot’ at Mullin. 

‘That’s what his commie supporters can’t figure out,’ comedian Tim Young posted on X. ‘Bernie has been in office so long that he should have solved their problems by now.’

‘Finally,’ journalist Anna Matson posted on X. ‘Someone put Bernie Sanders in his place. He’s all talk and no action. He’s been in office longer than I’ve been alive and he has nothing to show for it.’

‘Swamp being DRAINED,’ political and sports commentator Dan Dakich posted on X.

‘HOLY SMOKES,’ conservative journalist Eric Daughterty posted on X. ‘Sen. Markwayne Mullin just PUMMELED Bernie Sanders to his FACE.’

Senate clashes involving Sanders and Mullin have been increasingly common in recent years, including a viral moment in 2023 when Mullin and Teamsters President Sean O’Brien almost came to blows during an exchange Sanders was in the middle of. 

This past December, the two clashed on the Senate floor, also over Obamacare, in an exchange that Mullin posted on X in which he referred to Sanders as ‘The Grinch’ and said the Vermont senator ‘blocked our bipartisan bill, the Mikaela Naylon Give Kids a Chance Act, to give kids fighting cancer more treatment options.’

Fox News Digital reached out to the offices of Mullin and Sanders for comment.

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The crackdown on fraud in Minnesota will serve as a blueprint for a new Department of Justice office focused on protecting taxpayer funds from scams, President Donald Trump’s pick to serve as the nation’s ‘fraud czar’ explained in his nomination hearing Wednesday. 

‘The work in Minnesota has been pivotal. The work of the U.S. Attorney’s office there, and the personnel there, has been pivotal to highlighting the problems of fraud that permeate our taxpayer funded programs,’ nominee to serve as assistant attorney general for a new Justice Department division tasked with rooting out fraud, Colin McDonald, said Wednesday. 

‘That sort of effort … is what the National Fraud Enforcement Division will be looking to do and scale to an extent that we’ve not seen before within the Department of Justice,’ he continued. 

Trump tapped McDonald as the nominee in January, just days after establishing the Department of Justice’s new division for national fraud enforcement that will ‘investigate, prosecute, and remedy fraud affecting the Federal government,’ according to the White House. The new office follows a sweeping Minnesota fraud scandal, where hundreds of millions of dollars was allegedly swindled from taxpayers through welfare and social services programs.

‘I will be working with the inspectors general community,’ McDonald continued. ‘With our federal agencies and federal partners, with our state and local partners to ensure that we find the fraud where it’s occurring and that we have the resources to prosecute it, to investigate it and prosecute it, and ultimately ensure that the fraud that we’re seeing annually, perpetrated against these programs comes to an end.’

McDonald appeared before the Senate Judiciary Committee Wednesday morning, where lawmakers grilled the nominee about the new office, how it will operate and if it will operate independently of the White House. 

Trump delivered his State of the Union address Tuesday evening and announced Vice President JD Vance will lead the administration’s ‘war on fraud.’ 

McDonald explained that his office will work to tackle all fraud bleeding taxpayers, citing Government Accountability Office data that estimates between $320 billion to $520 billion in taxpayer funds is lost to fraud on an annual basis. 

‘My commitment is to work tirelessly to build a division, a national fraud enforcement division, where no fraud is too big for the Department of Justice, and no fraud is too small for the Department of Justice,’ he continued. 

At the top of lawmakers’ minds were fraud concerns surrounding Obamacare and senior citizens. 

Republican Texas Sen. John Cornyn cited that the Government Accountability Office could not reconcile over $21 billion in Obamacare marketplace subsidies in tax year 2023 during his questioning of McDonald. 

‘I commit to working tirelessly to root out the sort of fraud that you’ve identified there, and to make sure that every single dollar that’s supposed to go to these programs actually goes to the programs, to the beneficiaries, the intended beneficiaries of these programs, and not to fraudsters. That is my commitment,’ McDonald told Cornyn during the hearing regarding potential fraud surrounding Affordable Care Act subsidies. 

Scams targeting the elderly also took the spotlight throughout the hearing. Judiciary Chair Chuck Grassley, R-Iowa, pressed McDonald on his efforts to protect seniors from scams, noting that America’s seniors lose $28 billion annually to financial schemes. 

The fraud czar nominee pledged that the DOJ would work to protect seniors from the increasingly high-tech scams, which often include using artificial intelligence to confuse and swindle people, noting that the fraud affects entire families. 

‘It’s not just the grandmothers and the grandfathers, it’s also their family members who bear the weight of these scams and the fraud that’s perpetrated against them,’ he said. ‘My grandmother, one of them, turns 89 years old in two days. And she has seen these … sorts of efforts toward her. And it’s a major issue that the Department of Justice is focused on, and we will be using all available tools to ensure that we combat that problem.’

The massive Minnesota fraud case has reverberated across the nation, with federal Republican lawmakers reinvigorating calls to tighten and monitor the release of taxpayer funds to various programs, most notably social and welfare offices. 

Trump spotlighted the fraud in his State of the Union address Tuesday, claiming the scams are even worse in states such as California, Massachusetts, Maine.’ 

‘When it comes to the corruption that is plundering — it really, it’s plundering America — there’s been no more stunning example than Minnesota, where members of the Somali community have pillaged an estimated $19 billion from the American taxpayer. Oh, we have all the information,’ Trump said Tuesday. 

‘And in actuality, the number is much higher than that, and California, Massachusetts, Maine and many other states are even worse. This is the kind of corruption that shreds the fabric of a nation, and we are working on it like you wouldn’t believe,’ he continued, before naming Vance as the administration leader taking on fraud. 

The White House referred Fox Digital to Trump’s State of the Union comments and McDonald’s testimony when approached for additional comment on the federal fraud crackdown efforts. 

Vance joined Fox News’ ‘America’s Newsroom’ Wednesday, and said his efforts will include a ‘full, whole government approach’ to investigating fraud concerns, and enlisting the Justice and Treasury Departments to lead probe on fiscal records. 

‘There’s a whole host of tools that we have that have never been used, and the president and I talked about this a couple of months ago and said, ‘What if we just did everything that we could to stop the fraud that’s being committed against the American taxpayer?’ The president said, ‘Great idea, let’s do it,’ and we’re going to work on that very aggressively over the next year,’ Vance said. 

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