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Partisan fights played out publicly in high-profile votes in the Senate this week, but lawmakers are quietly finding common ground in their support of a push to have the unedited footage of Caribbean boat strikes released.

Tucked into the annual National Defense Authorization Act (NDAA) is a provision that would require the Pentagon to release the full, unedited footage of boat strikes carried out in the Caribbean in exchange for Secretary of War Pete Hegseth’s travel budget to be fully funded.

The Trump administration has come under scrutiny on Capitol Hill for repeated strikes on alleged drug boats from Venezuela over the last several months, which came to a head last week in the wake of the deadly Sept. 2 double-strike on an alleged drug boat in the Caribbean Sea.

‘I think we need to see all of the video footage, particularly of the second strike from Sept. 2,’ Sen. Rand Paul, R-Ky., told Fox News Digital.

Lawmakers in the upper chamber don’t know who slipped the provision into the colossal legislative package, including Senate Armed Services Committee Chair Roger Wicker, R-Miss., who told reporters, ‘I would imagine that it got added at the leadership level.’

The massive legislative package sailed through the House on Thursday and is set for a series of procedural tests in the Senate beginning on Monday. And many lawmakers broadly support the release of the footage, particularly of the double-tap strike, to Congress.

Sen. Mike Rounds, R-S.D., who is a member of the Senate Armed Services Committee, told Fox News Digital that his committee, and ‘maybe the [Senate] Intel Committee,’ should have complete access to the unedited footage.

‘And then, based upon that, we can decide whether or not we would push further,’ Rounds said. ‘But let us look at the facts first.’

Sen. Tim Kaine, D-Va., who also sits on the Armed Services Committee, told Fox News Digital that he fully supported the provision and noted that Hegseth and the Pentagon had already released partial footage, treating it like ‘almost a commercial.’

‘So you released part of the video, and you’re banging your chest about it,’ Kaine said. ‘You should release the whole thing.’

Sen. Angus King, I-Maine, agreed and told Fox News Digital that it shouldn’t be a roadblock to passage of the broader defense package, either.

‘There’s no excuse for not releasing it. It shouldn’t. If somebody is not releasing something, it usually tells me that they don’t want it to see the light of day,’ he said. ‘I just want the video of the rest of the strike. That’s not me. It’s the American people who need to see this. They need to know what’s being done in their name.’

During the week, the so-called ‘Gang of Eight,’ which includes Republican and Democratic leadership from the Senate and House along with the chairs and ranking members of the intelligence committees in both chambers, met with Hegseth and Secretary of State Marco Rubio for a briefing on the strikes.

Neither Thune nor Senate Intel Committee Chair Tom Cotton, R-Ark., commented on the briefing, but Senate Minority Leader Chuck Schumer, D-N.Y., characterized it as ‘very unsatisfying.’

‘I asked Secretary Hegseth, Secretary of Defense Hegseth, would he let every member of Congress see unedited videos of the Sept. 2 strike? His answer, ‘We have to study it well,’’ Schumer said. ‘In my view, they’ve studied it long enough. Congress ought to be able to see it.’

Some Republicans support more transparency on the matter, too, including Sen. Steve Daines, R-Mont., who told Fox News Digital that he didn’t ‘have any problem’ releasing the footage.

But he emphasized that the entire point of the strikes was to combat the flow of drugs into the country.

‘We’re losing sight of the most important narrative, and that is, more Americans have died of illegal drugs in the last seven years than World War I, World War II and Vietnam combined,’ Daines said.

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House Republicans have released a 111-page plan for reforming healthcare that they hope to vote on next week.

House GOP leadership aides also told reporters on Friday afternoon that they expected a vote on extending enhanced Obamacare subsidies to also happen next week as part of the amendment process to the final bill, called the ‘Lower Health Care Premiums for All Americans Act.’ The subsidies have been the subject of fierce inter-party debate for Republicans.

‘We expect that there will be an amendment that I believe is being worked on, so the process will allow for that amendment,’ aides said.

The plan as-is includes provisions to codify association health plans, which allow small businesses and people who are self-employed to band together to purchase healthcare coverage plans, giving them access to greater bargaining power.

Republicans also plan to appropriate funding for cost-sharing reductions beginning in 2027, which are designed to lower out-of-pocket medical costs in the individual healthcare market. House GOP leadership aides said it would bring down the cost of premiums by 12%.

New transparency requirements for pharmacy benefit managers (PBMs) are also in the legislation, aimed at forcing PBMs to be more upfront about costs to employers.

PBMs are third parties that act as intermediaries between pharmaceutical companies and those responsible for insurance coverage, often responsible for administrative tasks and negotiating drug prices.

PBMs have also been the subject of bipartisan ire in Congress, with both Republicans and Democrats accusing them of being part of a broken system to inflate health costs.

But the most divisive measure for Republicans is likely not yet fleshed out. 

A majority of House Republicans are against extending the enhanced Obamacare subsidies, which were designed to get affordable health insurance for more Americans during the COVID-19 pandemic.

Democrats voted to pass the enhanced subsidies in 2021 and extended them through 2022 when they controlled Congress.

A group of moderate House Republicans has joined Democrats now in vehemently pushing for those subsidies to be extended again, as millions of Americans face near-certain healthcare price hikes beginning in January.

Two separate bipartisan efforts have been launched to force a vote on extending the subsidies in some form. But any such push would require support from virtually all House Democrats to succeed, and their leaders have not given their blessing to either plan.

‘We’re going to evaluate every single good faith proposal. But it has to meaningfully provide certainty to the American people who are at risk of having their health care ripped away from them,’ House Minority Leader Hakeem Jeffries, D-N.Y., told reporters on Friday.

But conservatives have warned they would not support any such extension unless paired with significant reforms to what they view as a long-broken system that fuels healthcare price inflation.

‘I think that would be a disastrous plan. I mean, we’ve clearly seen that Obamacare is the Titanic. It’s going down. I think throwing money after it is just going to be wasteful,’ House Freedom Caucus member Rep. Eric Burlison, R-Mo., told Fox News’ Chad Pergram on Friday.

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President Donald Trump is being sued by a historic preservation group seeking to stop construction of his new White House ballroom.

The National Trust for Historic Preservation filed a lawsuit Friday against the Trump administration, arguing that it skipped mandatory reviews and failed to seek congressional approval before demolishing the East Wing of the White House.

‘No president is legally allowed to tear down portions of the White House without any review whatsoever — not President Trump, not President Biden, and not anyone else,’ the lawsuit stated. ‘And no president is legally allowed to construct a ballroom on public property without giving the public the opportunity to weigh in.’

Attorneys for the nonprofit argued Trump’s project ‘should be immediately halted’ and work on the 90,000-square-foot ballroom project should be paused until the reviews are completed.

When reached for comment, White House spokesperson Davis Ingle told Fox News Digital, ‘President Trump has full legal authority to modernize, renovate and beautify the White House – just like all of his predecessors did.’ 

Construction on the ballroom started in October, leading to the demolition of the White House’s historic East Wing. The project is being privately funded at an estimated cost of $300 million, up from a $200 million estimate in July when the project was unveiled.

The lawsuit claims the Trump administration failed to submit its demolition plans to the National Capital Planning Commission, the Commission of Fine Arts and Congress before construction began, arguing it is ‘depriving the public of its right to be informed.’

Additionally, the National Trust said the project violates numerous federal statutes, including the Administrative Procedure Act and the National Environmental Policy Act, and claimed Trump circumvented the Constitution. 

‘The President, acting unilaterally, is wholly without constitutional authority to build or demolish anything on federal Grounds,’ the lawsuit stated.

The National Trust is requesting that a federal judge prevent the Trump administration from continuing work on the Ballroom project until the necessary federal commissions have reviewed and approved the project’s plans, an adequate environmental review has been conducted and Congress has authorized the ballroom’s construction.

The White House is expected to submit plans for Trump’s new ballroom to a federal planning commission before the end of the year.

The Associated Press contributed to this report.

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A top Senate Republican argued that if allegations against ‘Squad’ member Rep. Ilhan Omar, D-Minn., that she married her brother to enter the U.S. were true, she’d be breaking several laws.

Sen. Ted Cruz, R-Texas, joined the long-standing scrutiny against Omar Friday after President Donald Trump revived the allegations during a rally pushing his affordability agenda in Pennsylvania earlier this week.

In a post on X responding to a White House social media account that charged, ‘Yes, [Omar] married her brother,’ Cruz listed a trio of federal and state laws the progressive lawmaker may have violated.

‘If this is true, then Omar faces criminal liability under three different statutes,’ Cruz said.

Cruz argued that Omar could have committed federal marriage fraud, which stipulates that it is a felony to knowingly enter into a marriage to evade immigration laws, and could lead to up to five years in prison, a $250,000 fine and deportation.

Omar was born in Somalia and came to the U.S. in 1995 after her family was granted asylum. She became a citizen in 2000. Omar, who is Muslim, has been married legally three times, first in a religious marriage to Ahmed Abdisalan Hirsi in 2002, then to Ahmed Nur Said Elmi in 2009 before later divorcing and legally marrying Hirsi. In 2020, she married political aide Tim Mynett. 

Cruz noted that Omar could also be breaking Minnesota’s state incest law, a felony in the state punishable by jail time up to 10 years. He also contended that she could be liable for tax fraud, specifically if joint tax returns were filed while she was not legally married.

That violation would levy up to a $100,000 fine and up to three years in prison.

The Senate Republican’s legal analysis of the situation comes after Trump resurrected the unsubstantiated claims that Omar had married her brother for immigration purposes that have dogged the lawmaker since she entered politics nearly a decade ago. She has denied the allegations.

Still, Trump charged, ‘She married her brother to get in, right?’

‘If I married my sister to get my citizenship, do you think I’d last for about two hours or something less than that? She married her brother to get in,’ he said. ‘Therefore, she’s here illegally. She should get the hell out.’

Fox News Digital did not immediately hear back for comment from Omar’s office.

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GOP House Oversight Committee Chairman James Comer said he plans to commence contempt of Congress proceedings against Bill and Hillary Clinton for ignoring the committee’s subpoenas related to its ongoing probe into the Jeffrey Epstein scandal. 

In July, a bipartisan House Oversight Subcommittee approved motions to subpoena Bill and Hillary Clinton and a slew of other high-profile political figures to aid its investigation looking into how the federal government handled Epstein’s sex trafficking case. 

The subpoenas were then sent out in early August, and the Clinton’s were scheduled to testify Dec. 17-18. 

‘It has been more than four months since Bill and Hillary Clinton were subpoenaed to sit for depositions related to our investigation into Jeffrey Epstein and Ghislaine Maxwell’s horrific crimes. Throughout that time, the former president and former secretary of state have delayed, obstructed, and largely ignored the committee staff’s efforts to schedule their testimony,’ Comer said in a press release issued Friday evening.

‘If the Clintons fail to appear for their depositions next week or schedule a date for early January, the Oversight Committee will begin contempt of Congress proceedings to hold them accountable.’

Comer’s threats come as Democrats from the House Oversight Committee released a new batch of photos obtained from Epstein’s estate, which included further images of the disgraced financier with powerful figures like President Donald Trump and former President Bill Clinton. Thousands of images were reportedly released, with potentially more to come.

Other high-profile figures subpoenaed by the Oversight Committee include James Comey, Loretta Lynch, Eric Holder, Merrick Garland, Robert Mueller, William Barr, Jeff Sessions and Alberto Gonzales.

In addition to testimony from these individuals, Comer and the Oversight Committee issued subpoenas to the Department of Justice (DOJ) for all documents and communications pertaining to the case against Epstein.

In September, the committee released tens of thousands of pages of Epstein-related records in compliance with the subpoena, and the Oversight Committee indicated the DOJ would continue producing even more records as it works through needed redactions and other measures that must occur before they are released.

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Sun Summit Minerals Corp. (TSXV: SMN,OTC:SMREF) (OTCQB: SMREF) (‘Sun Summit’ or the ‘Company’) is pleased to announce that, due to significant investor demand, it has increased the maximum gross proceeds of its previously announced non-brokered private placement (the ‘Private Placement’) from $7 million to $11.5 million. The Private Placement includes a combination of: (i) charity flow-through common shares in the capital of the Company (each, a ‘Charity FT Share’) at a price of $0.14 per Charity FT Share; and (ii) non-flow-through common shares in the capital of the Company (each, an ‘NFT Share’, and together with the Charity FT Shares, the ‘Securities’) at a price of $0.10 per NFT Share. Each Charity FT Shares will qualify as a flowthrough share within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the ‘Tax Act’).

The Company intends to use all of the gross proceeds of the Private Placement for exploration of the Company’s JD, Theory and Buck properties and any other Canadian properties that the Company may acquire, provided that the Company will use an amount equal to the gross proceeds received by the Company from the sale of the Charity FT Shares to incur eligible ‘Canadian exploration expenses’ that will qualify as ‘flowthrough mining expenditures’ as such terms are defined in the Tax Act.

‘We are very grateful for the major support we have received from high quality institutional and mining focused investors in this capital raise. This capital will fully fund our 2026 exploration program and help accelerate our progress towards an initial mineral resource estimate at JD,’ said Niel Marotta, Chief Executive Officer of Sun Summit.

The closing of the Private Placement is subject to certain closing conditions, including the approval of the TSX Venture Exchange (the ‘TSXV‘). The Company may pay finder’s fees in cash or securities to certain arm’s length finders (each, a ‘Finder‘) engaged in connection with the Private Placement, subject to the approval of the TSXV. Eventus Capital Corp. has been appointed as a Finder in connection with the Private Placement. The Securities issued pursuant to the Private Placement will be subject to a four-month hold period in accordance with applicable securities laws.

The Securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Securities in any State in which such offer, solicitation or sale would be unlawful.

About Sun Summit

Sun Summit Minerals (TSXV: SMN,OTC:SMREF) (OTCQB: SMREF) is a mineral exploration company focused on the discovery and advancement of district scale gold and copper assets in British Columbia. The Company’s diverse portfolio includes the JD and Theory Projects in the Toodoggone region of north-central B.C., and the Buck Project in central B.C.

Further details are available at www.sunsummitminerals.com.

On behalf of the board of directors

Niel Marotta
Chief Executive Officer & Director
info@sunsummitminerals.com

For further information, contact:

Matthew Benedetto, Simone Capital
mbenedetto@simonecapital.ca
Tel. 416-817-1226

Forward-Looking Information

Statements contained in this news release that are not historical facts may be forward-looking statements, which involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, the forward-looking statements require management to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Generally forward-looking statements can be identified by the use of terminology such as ‘anticipate’, ‘will’, ‘expect’, ‘may’, ‘continue’, ‘could’, ‘estimate’, ‘forecast’, ‘plan’, ‘potential’ and similar expressions. Forward-looking statements contained in this press release may include, but are not limited to, the use of proceeds of the Private Placement, the tax treatment of the Charity FT Shares, the terms and completion of the Private Placement, the payment of finder’s fees and obtaining regulatory approval, including approval of the TSXV, for the Private Placement, and the sufficiency of the gross proceeds of the Private Placement to fully fund the Sun Summit’s 2026 exploration plans, and to accelerate its progress towards an initial mineral resource estimate at the JD Property. These forward-looking statements are based on a number of assumptions which may prove to be incorrect which, without limiting the generality of the following, include: the state of the equity financing markets in Canada and other jurisdictions; the receipt of regulatory approval; volatility and sensitivity to market prices; changes in tax legislation; fluctuations in metal prices; and other exploration, development, operating, financial market and regulatory risks. The forward-looking statements contained in this press release are made as of the date hereof or the dates specifically referenced in this press release, where applicable. Except as required by applicable securities laws and regulation, Sun Summit disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277951

News Provided by Newsfile via QuoteMedia

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The Bank of Canada Governing Council met on Wednesday (December 10) for the final rate-setting meeting of 2025 and decided to hold its benchmark rate at 2.25 percent. Analysts had widely expected the central bank to maintain the rate and anticipate it remaining unchanged through the start of 2026.

The decision came after Statistics Canada’s jobs report, released December 5, showed that Canada’s labor force remained resilient through November, with 54,000 new jobs and the unemployment rate dropping 0.4 percentage points to 6.5 percent.

Additionally, the BoC noted that Canada’s gross domestic product (GDP) grew 2.6 percent during the third quarter despite domestic demand remaining flat. Looking ahead, it expects fourth-quarter GDP to be weak as exports decline, but anticipates growth to pick up in 2026.

The council suggested that the 2.25 percent rate was the right level to keep inflation near 2 percent while providing enough support for the economy amid uncertainty from US trade policy.

South of the Border, the US Federal Reserve also held its final rate-setting meeting of the year on Tuesday (December 9) and Wednesday. It chose to go in a different direction, lowering its benchmark rate by 25 basis points to the 3.5 to 3.75 percent range.

However, in his statements, Fed Chairman Jerome Powell hinted that the committee may pause some future rate cuts as it takes time to parse data and analyze the effects of the three rate cuts on the US economy.

Powell also stated that there was concern that the Bureau of Labor Statistics may be significantly overestimating the number of jobs created within the US economy by about 60,000 jobs per month, meaning it could actually be losing an average of 20,000 per month.

Due to the government shutdown, the BLS didn’t release September’s jobs report until November 20, which showed growth of 119,000 employees. The agency also noted that it wouldn’t be releasing October’s numbers and would roll them into November’s report, which was delayed until December 16.

A report from human resources firm ADP showed that private employment in November declined by 32,000 jobs, noting that employers have been cautious amid economic uncertainty and cautious consumers.

For more on what’s moving markets this week, check out our top market news round-up.

Markets and commodities react

Canadian equity markets saw mixed gains this week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) was little changed, gaining just 0.1 percent over the week to close Friday at 31,527.39 and the S&P/TSX Venture Composite Index (INDEXTSI:JX) was also flat rising 0.17 percent to 954.61.

On the other hand, the CSE Composite Index (CSE:CSECOMP) spiked 15.63 percent to close at 180.36 alongside a surge in cannabis stocks on Friday after it was reported that the White House was planning to reschedule cannabis this coming Monday (December 15).

The gold price reacted positively to the Fed’s rate cut gaining 2.44 percent on the week with the biggest gains coming at the end of the week, to reach US$4,299.86 per ounce on Friday at 4 p.m. EST.

Meanwhile, the silver price continued soaring with a substantial weekly gain of 6.12 percent, setting a new all time high of US$64.65 per ounce in morning trading on Friday before slipping to end the day at US$61.95.

In base metals, the COMEX copper price ended the week down 1.46 percent at US$5.37 per pound.

The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) fell 2.63 percent to end Friday at 545.47.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stocks data for this article was retrieved at 4:00 p.m. EST on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Sirios Resources (TSXV:SOI)

Weekly gain: 120 percent
Market cap: C$48.26 million
Share price: C$0.165

Sirios Resources is a gold exploration company advancing a portfolio of projects in the Eeyou Istchee James Bay region of Québec, Canada.

The company’s Aquilon property covers 7,100 hectares and hosts over 30 gold showings. It’s the subject of a December 2022 earn-in agreement that could see Sumitomo Metal and Mining earn up to an 80 percent interest through exploration commitments and cash payments totaling C$14.8 million.

On December 4, Sirios released assay results from a 13 hole, 5,420 meter drill program carried out at Aquilon during the summer targeting an underexplored area west of historic showings. Highlights from the program included one hole with 2.55 grams per metric ton (g/t) of gold over 4.8 meters, which included an interval of 10.3 g/t over 1 meter.

Sumitomo funded the program and pushes its exploration investments beyond the C$4.8 million commitment needed to earn a 51 percent stake in the project.

Sirios also owns the 15,700 hectare Cheechoo project, which hosts the namesake deposit. A mineral resource estimate included in an August 2025 technical report demonstrated a total indicated resource of 1.26 million ounces of gold with an average grade of 1.12 g/t from 34.99 metric tons of ore, with an additional inferred resource of 1.67 million ounces with an average grade of 1.23 g/t from 42.72 million metric tons.

On Thursday (December 11), Sirios announced it entered into an arrangement to acquire private company OVI Mining, which was recently spun-out of Electric Elements Mining, a subsidiary of Osisko Development (TSXV:ODV) and O3 Mining.

The two will merge to create a Québec-focused gold company with a district-scale land package centred on the Cheechoo deposit and supported by OVI’s Corvet Est and PLEX projects.

Jean-Felix Lepage, former Vice President of Project Development at O3 Mining, will become the CEO of the combined company. The deal is also backed by Osisko, whose CEO Sean Roosen and Vice President of Strategic Development Laurence Farmer will join the board upon the closing of the deal.

Sirios Founder and CEO Dominique Doucet said, “By integrating their experience as industry leaders in corporate finance and mine development with our deep knowledge of geology and exploration, we will work diligently towards advancing our flagship Cheechoo deposit into gold production.”

2. Eco (Atlantic) Oil & Gas (TSXV:EOG,OTC Pink:ECAOF)

Weekly gain: 78.38 percent
Market cap: C$99.3 million
Share price: C$0.33

Eco Atlantic is an oil and gas exploration company focused on a portfolio of offshore assets in the Atlantic Ocean.

Its holdings include a 100 percent interest in the Orinduik block and a 1.3 percent interest in ExxonMobil’s Canje Block off the coast of Guyana; an 85 percent working interest in PEL 97, 99 and 100 in the Wavis basin off the coast of Namibia; and, off the coast of South Africa, a 75 percent working interest in Block 1 and a 5.25 percent interest in Block 3B/4B.

The most recent news from Eco came on December 4, when it entered into a farm-in agreement with Navitas Petroleum.

Under the terms of the deal, Navita will pay US$2 million up front for the exclusive options to earn an 80 percent interest in the Orinduik block for an additional US$2.5 million payment, and a 47.5 percent interest in Block 1 in South Africa for an additional US$4 million. If Navita exercises the agreements, it will become the operator of the assets as well.

3. Karnalyte Resources (TSX:KRN)

Weekly gain: 65.63 percent
Market cap: C$11.72 million
Share price: C$0.265

Karnalyte Resources is an exploration and development company advancing its Wynyard potash project in Central Saskatchewan, Canada.

The property consists of three primary mineral leases covering 367 square kilometers east of Saskatoon.

Shares in Karnalyte have been climbing since it released an updated feasibility study for the project on November 26. The study demonstrated economic viability, according to Karnalyte, with an after-tax net present value of C$2.04 billion, an internal rate of return of 12.5 percent, a payback period of 8.8 years, and a mine life of 70 years.

The company also stated that development would benefit from a secured offtake agreement under which India-based GFSC would purchase 350,000 metric tons per year during Phase 1, with additional commitments for 250,000 metric tons per year after Phase 2 is complete.

4. PJX Resources (TSXV:PJX)

Weekly gain: 82.35 percent
Market cap: C$26.17 million
Share price: C$0.155

PJX Resources is an exploration company focused on gold, silver and base metal properties in British Columbia, Canada.

The company has largely been exploring claims around Cranbrook, in the southeast portion of the province. PJX has been focused on the Cranbrook area due to the co-existence of a significant base metals deposit with untapped gold potential.

The region is home to the historic Sullivan mine, which produced most of the region’s production of over 285 million ounces of silver, 8.5 million metric tons of lead and 8 million metric tons of zinc.

Additionally, the company states that the region may be responsible for more than 1.5 million ounces of historic placer gold production, but significant gold deposits have not yet been discovered.

In total, the company has amassed a land claim of over 50,000 hectares in the region, centered around these historic claim sites.

On Thursday, PJX announced that it had discovered a large sedimentary exhalative mineralized system at its Dewdney Trail property. The company said that recent drilling intersected 63 meters of anomalous mineralization in the Quake zone, including zinc, lead, silver and other critical metals, and that it bears similarities to bands of mineralization from the Sullivan mine.

Additionally, the company said that exploration discovered boulders 800 meters south along strike from the drilling area with assays of 546 g/t silver, 32.3 percent lead, and 4.89 percent zinc.

5. Triumph Gold (TSXV:TIG)

Weekly gain: 64.56 percent
Market cap: C$30.63 million
Share price: C$0.65

Triumph Gold is an explorer and developer advancing projects in the Yukon and BC, Canada, and Utah, United States.

Its three properties in the Yukon are all within the Dawson Range and consist of its flagship Freegold Mountain project, which has 20 identified mineral resources hosting gold, silver, copper, molybdenum, lead and zinc deposits; the Tad/Toro copper, gold and molybdenum project; and the Big Creek copper and gold project.

Triumph’s property in Northern BC is called Andalusite Peak, and on June 4, the company announced the acquisition of the Coyote Knoll silver-gold property in Utah.

On May 9, the company announced it had refined its exploration focus on geochemical surveys and detailed geological mapping at the Andalusite Peak project, and defined new targets at Freegold Mountain.

Triumph’s most recent update came on November 27, when it closed a non-brokered private placement for gross proceeds of C$1.94 million.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of May 2025, there were 1,565 companies listed on the TSXV, 910 of which were mining companies. Comparatively, the TSX was home to 1,899 companies, with 181 of those being mining companies.

Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Japan’s largest copper smelter has secured a rare reprieve in one of the tightest processing-fee environments the industry has ever seen.

According to media reports, Pan Pacific Copper has agreed with Lundin Mining (TSX:LUN,OTC Pink:LUNMF) to roll over treatment and refining charges for 2026 rather than cut them further.

People familiar with the deal said the commercial terms will remain broadly unchanged from this year, preserving a fee structure that has already fallen to historic lows.

TC/RCs, which are the fees miners pay smelters to process copper concentrate, usually move in tandem with global supply trends.

But the collapse this year has been so severe that spot charges have turned decisively negative. Many smelters warn the industry is near breaking point, especially in Asia, where Chinese refiners have built capacity far ahead of available concentrate.

The Lundin-PPC rollover diverges from the wide expectation that fees will fall further next year.

It follows a warning in October from Freeport-McMoRan (NYSE:FCX) that it plans to abandon the traditional benchmark-setting system to help keep smelters afloat.

The arrangement also suggests miners with long-term industrial ties to Japan are willing to make commercial concessions to avoid further financial stress on their customers.

A spokesperson for Lundin declined to comment on the deal. PPC said it could not address the details of individual contracts.

For decades, annual copper contracts have been anchored by the first major deal of the year, often involving Chinese smelters since the 2010s.

But the system has become strained as the benchmark collapses and Chinese refiners resist setting a price that could turn negative. This year’s benchmark was set at a record low of US$21.25 a ton and 2.125 cents a pound.

The dynamics are particularly complex for Japanese smelters. PPC’s parent, JX Advanced Metals (OTC Pink:JXAMY,TSE:5016), holds a 30 percent stake in Lundin’s Caserones mine in Chile, giving both sides a long-term interest in keeping operations stable.

Last month, PPC announced a plan to merge its purchasing and sales functions with Mitsubishi Materials, a move aimed at strengthening Japan’s collective buying power in a challenging market.

The pressures are most acute in China, where this year’s negative TC/RCs have prompted emergency supply-side intervention.

The China Smelters Purchase Team, representing the country’s largest refiners, recently agreed to cut output by more than 10 percent next year to counter what it called “malignant competition.”

According to Shanghai Metals Market, the CSPT also established new oversight mechanisms to police procurement practices and blacklist suppliers deemed disruptive.

With Chinese smelters at an impasse over the 2026 benchmark, the industry enters the new year without clarity on where the market will settle.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Contango ORE (NYSEAMERICAN:CTGO) and Dolly Varden Silver (TSXV:DV) have agreed to merge in an all-stock deal that would create a new mid-tier North American precious metals company.

The transaction will unite their producing and high-grade development assets in Alaska and BC.

Shareholders of each firm will own roughly 50 percent of the new entity, which is expected to be renamed Contango Silver & Gold and listed on the NYSE American. A separate listing application is planned for the TSX.

The combined company, informally referred to as “MergeCo,” will be anchored by the cash-flowing Manh Choh gold mine in Alaska and a slate of high-grade silver and gold projects in the Golden Triangle and south-central Alaska.

Clynt Nauman will lead the board as its chair, while Rick Van Nieuwenhuyse will serve as CEO. Shawn Khunkhun will be president, and Mike Clark will be executive vice president and CFO.

Van Nieuwenhuyse said the combination is designed to take advantage of an unusually strong pricing environment for precious metals. “This merger is an exciting transaction for both Contango and Dolly Varden shareholders given the complementary and synergistic nature of our North American asset portfolios,” he commented.

Van Nieuwenhuyse also highlighted that Manh Choh’s cashflow provides “a source of non-dilutive funding to advance development” of Lucky Shot, Johnson Tract and Kitsault Valley.

For his part, Khunkhun added that the combined platform would be Canada and US-centric and will position the company for aggressive exploration and potential acquisitions.

For the new company, higher silver prices enhance the attractiveness of the Kitsault Valley project in British Columbia, where Dolly Varden recently completed more than 56,000 meters of drilling.

Early results included 1,422 grams per metric ton silver over 21.7 meters at the Wolf vein and high-grade gold intercepts at Homestake Silver. Historic production from the district exceeds 20 million ounces.

In Alaska, Contango brings three advanced projects. Manh Choh, operated by Kinross Gold (TSX:K,NYSE:KGC), produced 173,400 ounces of gold in the first nine months of 2025, generating US$87 million in distributions to Contango.

The Lucky Shot project, permitted and undergoing a major drill program, is targeting a multi-hundred-thousand-ounce resource.

Johnson Tract, a gold-silver-zinc project recently accepted for FAST-41 federal permitting, carries an initial assessment outlining a US$615 million net present value at US$4,000 per ounce gold.

The timing is notable as silver has climbed to its highest price on record. The metal broke its previous all-time high in October and repeatedly tested resistance through the fall before decisively surpassing US$54 on November 28. Silver later surged again following the US Federal Reserve’s December rate cut, with its latest record of US$64.31 set on December 11.

Analysts attribute the rally partially to shifting macro conditions, including renewed expectations of quantitative easing after the Fed signaled it would begin buying short-term Treasuries.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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InMed Pharmaceuticals Inc. (NASDAQ: INM) (‘InMed’ or the ‘Company’), a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates for diseases with high unmet medical needs, today released the following statement.

Recently, H.R. 5371, the ‘Continuing Appropriations, Agriculture, Legislative Branch, Military Construction and Veterans Affairs, and Extensions Act, 2026’ (the ‘Act‘) was signed into law.

The Company has been evaluating the impact of the Act with its advisors and believes that the Act, in its current form and without further amendment, will have a material negative impact on BayMedica Inc. (‘BayMedica‘), a subsidiary of the Company. Specifically, certain aspects of BayMedica’s commercial business and its inventory of rare, non-intoxicating cannabinoids would be prohibited under the Act if it comes into force on November 12, 2026, in its current form. BayMedica is evaluating the potential of creating alternative supply chain options in order to maintain continued regulatory compliance.

InMed Remains Focused on Core Pharmaceutical Programs

Despite the potential impact of the Act on BayMedica’s commercial operations, the new legislation does not affect InMed’s pharmaceutical drug development programs, which operate within the traditional drug approval pathway under FDA guidance. InMed remains fully committed to advancing its core pharmaceutical business. The Company continues to progress INM-901 for the treatment of Alzheimer’s disease and INM-089 for the treatment of age-related macular degeneration (AMD).

InMed’s Evaluation of Potential Impact of Act on BayMedica

It is unknown to the Company whether the sections of the Act that would impact BayMedica will ultimately go into effect on November 12, 2026, or at all, or if those sections will be replaced, impacted or amended by subsequent acts of U.S. policymakers. The Company notes that this one-year window leading to November 2026 affords policymakers, the broader industry and the Company time to evaluate the regulatory framework and the implications of the Act in its current form to consider potential legislative remedies, regulatory clarifications, and additional stakeholder engagement. The Company supports a balanced, science-based regulatory approach that promotes consumer safety while preserving responsible access to non-intoxicating cannabinoid products.

BayMedica is evaluating alternative options and, in the meantime, is continuing to operate its business in the normal course as the Act is not currently scheduled to come into force until November 2026. BayMedica has not set a timetable for the conclusion of its evaluation, nor has it made any definitive decisions related to any potential alternative options at this time.

You should review this press release together with the Risk Factors, Management’s Discussion and Analysis of Financial Condition and Results of Operations and the consolidated financial statements and footnotes in the Company’s latest Annual, Quarterly and Other Reports filed with the Securities and Exchange Commission for a discussion of BayMedica’s contribution to the Company’s consolidated financial results and balance sheet that could be negatively impacted if the Act comes into force in its current form.

About InMed

InMed Pharmaceuticals is a pharmaceutical drug development company focused on developing a pipeline of proprietary small molecule drug candidates targeting the CB1/CB2 receptors. InMed’s pipeline consists of three separate programs in the treatment of Alzheimer’s, ocular and dermatological indications. For more information, visit www.inmedpharma.com.

Investor Contact:
Colin Clancy
Vice President, Investor Relations
and Corporate Communications
T: +1.604.416.0999
E: ir@inmedpharma.com

Cautionary Note Regarding Forward-Looking Information:

This news release contains ‘forward-looking information’ and ‘forward-looking statements’ (collectively, ‘forward-looking information’) within the meaning of applicable securities laws. Forward-looking information is based on management’s current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Without limiting the foregoing, forward-looking information in this news release includes, but is not limited to, statements about the Act, the impact of the Act on BayMedica, any potential modifications to the Act and/or the timing thereof and the alternative options available to BayMedica and the Company.

With respect to the forward-looking information contained in this news release, InMed has made numerous assumptions regarding, among other things: its ability to obtain all necessary regulatory approvals on a timely basis, or at all, potential U.S. legislative changes and developments, if any; and continued economic and market stability. While InMed considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause InMed’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. A complete discussion of the risks and uncertainties facing InMed’s stand-alone business is disclosed in InMed’s Annual Report on Form 10-K, InMed’s Quarterly Report on Form 10-Q and other filings with the Security and Exchange Commission on www.sec.gov.

All forward-looking information herein is qualified in its entirety by this cautionary statement, and InMed disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277952

News Provided by Newsfile via QuoteMedia

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