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Late morning was sleepy but bright in Harlem Sunday as Democrat mayoral candidate Zohran Mamdani gave remarks at the First Corinthian Baptist Church for some last-minute outreach to the Black community.

Just down the street, about 50 people were gathered to learn how to canvass for, and get a pep talk from, Mamdani, along with a row of TV cameras and some milling members of the press. One man walked by chanting ‘Cuomo, Cuomo,’ mostly to amusement from the crowd.

Suddenly, there he was, walking up the sidewalk with his entourage. A school bus driver screamed, ‘Zohran’ and the quick candidate pivoted over to the bus, and took a step up for a hug and a selfie.

It was the first time I had ever seen Mamdani in person, and the bad news for those of us who abhor socialism is that this 34-year-old candidate has some serious political chops, effortlessly and effervescently pressing the flesh with his trademark toothy smile.

‘He’s very polished,’ Matt, in his early 30s told me as we watched him take a few questions from what seemed to be pre-chosen reporters. I tried to ask him one but was ignored in my Fox News Digital vest. But that was OK. I was more interested in asking Matt and his friends questions.

They had just stumbled upon the event, and when I asked Matt to expand a bit on his thought, he told me, ‘He looks and sounds like a politician.’ I asked if that was a good or bad thing He just smiled and shrugged, but then added, ‘He also looks really young.’

Matt’s friend Cam told me, ‘He has a lot of appeal to the young people,’ I couldn’t quite gather if the millennial included himself in that category. He went on to say, ‘and that’s good. It’s time for the young people’s ideas to be tried now.’

In chatting with a few of the soon-to-be canvassers, there was an almost joyous quality about them. ‘We are all just so excited for him,’ one told me. Another added: ‘I’ve never felt this way about a candidate before.’

The canvassers, mostly on the young side, looked much more like gentrifiers than lifelong residents of Harlem, but that is, after all, now also a part of the historic Black neighborhood’s 21st Century identity.

Andrew Cuomo needs not just to win the Black vote on Tuesday to have any chance, he needs it to come out in massive numbers. Chad, who I met on the corner outside a bodega was trying his best to help.

I noticed him when I caught the tail end of a yelling match with an older Black woman. I saw he was handing out flyers, and had assumed it was for Mamdani. In fact, he was out there pushing campaign materials for Cuomo.

He told me he had been in New York all his life, and he wasn’t ready for the kind of change Mamdani is proposing. ‘Free stuff,’ Chad said with disdain. ‘It takes money to keep the lights on…I’m sick of hearing about people getting stuff for free, free, free, what about the children? What about the educational system?’

I asked him about the confrontation with the woman and he said, ‘I get that all the time. Some people just hate him, and feel free to be abusive towards me.’

I told him to keep a stiff upper lip, that what he was doing was important and how democracy works. He said, ‘Thanks, I needed to hear that.’

I was glad I could be consoling, but also understood instantly what a warning sign for Cuomo his account was. If older Black women in Harlem are giving him the business for supporting the former governor, then Cuomo’s backstop may not be as secure as it seems.

At the end of the day, for better or worse, political campaigns run on enthusiasm. For as much clear good sense as Chad made in his defense of Cuomo, the enthusiasm gap I have seen in the last few days on the ground is Grand Canyon sized.

Maybe there is a silent majority, or in this case a plurality, ready to quietly pour into voting booths and fill in the little circle for Cuomo. But if so, at least thus far, they are doing a very good job of hiding.

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Corcel Exploration (CSE:CRCL,OTCQB:CRLEF) is a Vancouver-based explorer unlocking copper and gold opportunities across North America. Anchored by its flagship Yuma King project in Arizona, the company applies historical datasets, cutting-edge geoscience, and modern technology to uncover and expand near-surface and buried mineralized systems.

Corcel’s approach is centered on disciplined, data-driven exploration. The company’s 2025 work program includes its maiden 2,000-meter diamond drill program, along with IP surveys and hyperspectral mapping to test priority copper-gold skarn and porphyry targets across the Yuma King Mine, Yuma King West, and Three Musketeers zones. By validating and extending historical mineralization, Corcel aims to delineate a near-term resource base while unlocking the broader district-scale potential.

Yuma King property overview

The Yuma King copper-gold project covers a 3,200-hectare district-scale property in the historic Ellsworth mining district of west-central Arizona, approximately 150 km northwest of Phoenix. The property hosts the past-producing Yuma mine, where operations between 1940 and 1963 yielded high-grade copper and gold ore.

Company Highlights

  • Flagship Yuma King Project (Arizona): District-scale, 3,200-hectare land package with 515 federal mining claims in the historic Ellsworth mining district.
  • High-grade Historical Production: 8,600 tons averaging 2.3 percent copper, 0.3 oz silver per ton, and 0.03 oz gold per ton from the past-producing Yuma mine.
  • Dual Mineralization System: Copper-gold skarn mineralization with potential for a buried copper-molybdenum-gold porphyry system.
  • Strong Recent Results: Rock samples grading up to 17.15 grams per ton gold and 11.6 percent copper, confirming widespread surface mineralization.
  • Advanced Drill-ready Targets: 1.6 km skarn corridor open along strike and down-dip; multiple untested anomalies from geophysics and soil sampling.
  • Experienced Leadership: Led by a technically strong management team with deep experience in discovery, development, and capital markets.
  • Strategic US Positioning: Located near infrastructure and in the same state as one of only three US copper smelters.

This Corcel Exploration profile is part of a paid investor education campaign.*

Click here to connect with Corcel Exploration (CSE:CRCL) to receive an Investor Presentation

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Perth, Australia (ABN Newswire) – Locksley Resources Limited (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) announced the receipt of a Letter of Interest (‘LOI’) from the Export-Import Bank of the United States (‘EXIM’), outlining the intent to provide up to US$191M in potential project financing support for the Company’s Mojave Project in California.

Alignment with U.S Export-Import Bank (‘EXIM’) Positions Mojave as a Flagship Initiative Under the White House’s Directive to Rebuild Domestic American Antimony and Rare Earths Supply and Processing Capability

HIGHLIGHTS:

– The U.S Export-Import Bank has issued a Letter of Interest (LOI) indicating the potential for financing support of up to US$191 million for Locksley’s Mojave Project in California

– EXIM is the official export-credit agency of the U.S Government, tasked with strengthening domestic industrial resilience and reducing foreign supply dependence in strategic sectors

– The potential EXIM financing is a cornerstone first step in a broader U.S. government funding pathway, opening access to programs under the Defense Production Act Title III and Department of War (DOW)

– The engagement reinforces Locksley’s strategy to establish a 100% American made antimony and REE supply chain, following the successful production of the Company’s U.S. antimony ingot

– Locksley executives will attend key meetings in Washington D.C. in mid November, to advance discussions on the Company’s U.S. mine-to-market collaboration

EXIM, a wholly owned independent agency of the U.S Government, operates under a Congressional mandate to promote American economic and national security interests through project and export financing. Its recent Supply Chain Resiliency Initiative (SCRI) and China and Transformational Exports Program (CTEP) prioritise funding for critical mineral projects that reduce foreign supply dependence and rebuild U.S industrial capability.

The LOI represents a cornerstone step in Locksley’s engagement with U.S federal agencies and paves the way for detailed due diligence and underwriting to advance a comprehensive financing package for the Mojave Project.

In light of the recent November 2025 U.S.-China trade agreement whereby China has suspended new rare-earth/critical minerals export controls, and the U.S. has publicly reaffirmed its support for Western based critical mineral supply chains, the Mojave Antimony Project is uniquely positioned to deliver a low risk, U.S. hosted, anti-dependent on China supply solution. This alignment strengthens the strategic case for consideration by Export-Import Bank of the United States (EXIM) under its supply chain resilience and criticalminerals mandates.

100% American Made Ingot Milestone – Alignment with U.S. Policy

Locksley recently announced the successful casting of the 100% American made antimony ingot, using feedstock sourced from its Mojave Project and processed entirely on U.S soil.

This achievement validated the Company’s Mine-to-Metal business model and provides the foundation for commercial scaling under the Defense Production Act and Inflation Reduction Act frameworks.

Following the signing of the landmark U.S. and Australia Critical Minerals Framework Agreement in Washington DC between President Donald Trump and Prime Minister Anthony Albanese, Locksley’s Mojave Project has been recognised as aligning directly with this bilateral initiative, which is also supported by commitments from the Australian Export Finance Agency (EFA).

The EXIM support, alongside Locksley’s strategic collaboration with Rice University, provides a clear pathway for Mojave to progress beyond exploration and into the development of downstream aligned supply chains for the U.S.

Drew Horn, Chief Executive of GreenMet and former White House Advisor on Critical Minerals, commented:

‘EXIM’s Letter of Interest represents more than just financial support, it reflects a coordinated U.S. government directive to rebuild domestic critical minerals capability. The fact that EXIM’s engagement aligns with current White House priorities underscores how strategically important Locksley’s Mojave Project has become. We are now entering a period where nearly all federal funding in this sector is being directed under White House led initiatives and Locksley stands at the forefront of that effort. The combination of EXIM support and the successful production of a 100% American made antimony ingot demonstrates tangible progress toward full U.S. supply chain independence.’

Kerrie Matthews, Managing Director & CEO, commented:

‘EXIM’s engagement represents a strong endorsement of Locksley’s U.S strategy and the momentum we have built with government and industry partners. The LOI provides a foundation to progress formal financing discussions while advancing our downstream and offtake plans. With our 100% American made antimony ingot now produced, we are proving Locksley’s capacity to deliver the next generation of U.S critical mineral supply chains.’

Material Terms of the LOI

The Letter of Interest (LOI) is a non-binding expression of interest and does not constitute a final commitment or a financing agreement. A definitive commitment is contingent upon Locksley satisfying EXIM’s underwriting criteria, completing full due diligence (including technical, financial, and legal reviews), and finalising definitive documentation. The potential financing is for up to US$191 million with a repayment tenor of 10 years. However, the final amount, interest rate, and specific repayment terms will be determined upon completion of the due diligence process.

Fast-Track Mine-to-Market Approach

Locksley continues to accelerate development planning and apply innovative thinking to traditional project timelines via government support across parallel workstreams:

– Upstream: Fast-tracked development of the Desert Antimony Mine through both conventional and non-traditional methods, enabling near-term ore supply

– Downstream: Collaboration with Rice University’s DeepSolv(TM) program and processing optionality to establish U.S. refining capacity at speed

– Integrated Supply Chain: Direct alignment with U.S. defence, energy transition, and industrial partners to deliver 100% Made in America antimony into the U.S. market

– Locksley’s approach embodies the principles of the Mines of the Future framework integrating innovation, digital modelling and processing to rapidly re-establish strategic mineral production on U.S. soil.

This parallel approach positions Mojave as the fastest moving U.S. antimony development, directly supporting national security and clean energy priorities.

Next Steps

Locksley will now progress the following key initiatives to advance the Mojave Project toward development readiness:

– Progress formal application with EXIM, triggering due diligence and underwriting processes

– Securing additional U.S. government and institutional support under DPA Title III, DOE loan guarantees, and supply chain initiatives

– Locksley executives will attend key meetings in Washington D.C. in mid- November, to advance discussions on the Company’s U.S. mine-to-market collaboration

– Commence preparatory workstreams for both mine development and downstream processing pathways

– Advancing commercial pilot-scale production to demonstrate U.S. based refining capability and accelerate first metal output from the Mojave Project

About Locksley Resources Limited:

Locksley Resources Limited (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) is an ASX listed explorer focused on critical minerals in the United States of America. The Company is actively advancing exploration across two key assets: the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley Resources aims to generate shareholder value through strategic exploration, discovery and development in this highly prospective mineral region.

Mojave Project

Located in the Mojave Desert, California, the Mojave Project comprises over 250 claims across two contiguous prospect areas, namely, the North Block/Northeast Block and the El Campo Prospect. The North Block directly abuts claims held by MP Materials, while El Campo lies along strike of the Mountain Pass Mine and is enveloped by MP Materials’ claims, highlighting the strong geological continuity and exploration potential of the project area.

In addition to rare earths, the Mojave Project hosts the historic ‘Desert Antimony Mine’, which last operated in 1937. Despite the United States currently having no domestic antimony production, demand for the metal remains high due to its essential role in defense systems, semiconductors, and metal alloys. With significant surface sample results, the Desert Mine prospect represents one of the highest-grade known antimony occurrences in the U.S.

Locksley’s North American position is further strengthened by rising geopolitical urgency to diversify supply chains away from China, the global leader in both REE & antimony production. With its maiden drilling program planned, the Mojave Project is uniquely positioned to align with U.S. strategic objectives around critical mineral independence and economic security.

Tottenham Project

Locksley’s Australian portfolio comprises the advanced Tottenham Copper-Gold Project in New South Wales, focused on VMS-style mineralisation

Source:
Locksley Resources Limited

Contact:
Kerrie Matthews
Chief Executive Officer
Locksley Resources Limited
T: +61 8 9481 0389
Kerrie@locksleyresources.com.au

News Provided by ABN Newswire via QuoteMedia

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Investor Insight

Executing a well-defined project development strategy for its lithium assets and advancing Direct Lithium Extraction (DLE), CleanTech Lithium is poised to become a key player in the supply of lithium carbonate and the global battery market.

Overview

CleanTech Lithium (AIM:CTL,Frankfurt:T2N) is a resource exploration and development company with three lithium assets in Chile, a world-renowned mining-friendly jurisdiction. The company aims to be a leading supplier of ‘green lithium’ to the electric vehicle (EV) market and growing Energy Storage Systems (ESS) market, leveraging direct lithium extraction (DLE) – a low-impact, low-carbon and low-water method of extracting lithium from brine. DLE enables lower grade projects to be economically viable. New projects using this method will be critical to meet the forecasted demand.

Lithium demand is soaring as a result of a rapidly expanding EV market and ESS proposed pipeline of projects. As part of Chile’s National Lithium Strategy, the company’s flagship Laguna Verde has been named one of six salars prioritized for development — positioning CleanTech Lithium as a key private partner in unlocking the country’s lithium potential.

With an experienced team in natural resources, CleanTech Lithium holds itself accountable to a responsible ESG-led approach, a critical advantage for governments and major car and battery manufacturers looking to secure a cleaner supply chain.

Laguna Verde is at pre-feasibility study stage which is to be completed imminently. Based on previous drilling campaigns from 2022 to 2024, the project has a JORC resource estimate of 1.63 Mt of lithium carbonate equivalent (LCE) while Viento Andino boasts 0.92 Mt LCE, each supporting 20,000 tons per annum (tpa) production with a 30-year and 12-year mine life, respectively and based on the Scoping Studies published in 2023. The latest drilling programme at Laguna Verde finished in June 2024, results from which will be used to convert resources into reserves.

The company is carrying out the necessary environmental impact assessments in partnership with the local communities. The indigenous communities will provide valuable data that will be included in the assessments. The company has signed agreements with three of the core communities to support the project development.

DLE Pilot Plant Inauguration event held in May 2024 with local stakeholders and indigenous communities in attendance

Salar de Atacama/Arenas Blancas comprises 140 licenses covering 377 sq km in the Salar de Atacama basin, one of the leading lithium-producing regions in the world with proven mineable deposits of 9.2 Mt.

CleanTech Lithium is committed to an ESG-led approach to its strategy and supporting its downstream partners looking to secure a cleaner supply chain. In line with this, the company plans to use renewable energy and the innovative DLE process across its projects. DLE is considered an efficient option for lithium brine extraction that makes the least environmental impact, with no use of evaporation ponds, no carbon-intensive processes and reduced levels of water consumption. In recognition, Chile’s government plans to prioritize DLE for all new lithium projects in the country.

CleanTech Lithium’s pilot DLE plant in Copiapó was commissioned in the first quarter of 2024. To date, the company has completed the first stage of production from the DLE pilot plant producing an initial volume of 88 cubic metres of concentrated eluate – the lithium carbonate equivalent (LCE) of approximately one tonne over an operating period of 384 hours with 14 cycles. Results show the DLE adsorbent achieved a lithium recovery rate of approximately 95 percent from the brine, with total recovery (adsorption plus desorption) achieving approximately 88 percent. The Company’s downstream conversion process is successfully producing pilot-scale samples of lithium carbonate . As of January 2025, the Company is producing lithium carbonate from Laguna Verde concentrated eluate at the downstream pilot plant – recently proven to be high purity (99.78 percent). Click for highlights video.

CTL’s experienced management team, with expertise throughout the natural resources industry, leads the company toward its goal of producing green lithium for the EV and ESS markets. Expertise includes geology, lithium extraction engineering and corporate administration.

Company Highlights

  • Proven Commitment to Chile’s Lithium Future: Over US$30 million invested and agreements with local indigenous communities reflect CleanTech Lithium’s commitment to developing sustainable, high-quality lithium assets aligned with Chile’s National Lithium Strategy.
  • Clean, Fast, and Efficient Extraction: Utilizing Direct Lithium Extraction (DLE) to deliver battery-grade lithium carbonate faster, at lower cost, and with minimal environmental impact.
  • Flagship Project Advancing: The Laguna Verde project is at the pre-feasibility stage, paving the way for strategic partnership discussions.
  • Operational DLE Pilot Plant: An active pilot plant in Copiapó designed to produce ~1 tonne LCE, validating scalable, low-impurity lithium production.
  • High-Purity Lithium Achieved: In January 2025, the company produced 99.78 percent purity lithium carbonate, confirming product quality.
  • Committed to ESG Excellence: An ESG-first approach ensures responsible operations aligned with clean supply chain and focused on developing the project with net-zero goals in mind.

Key Projects

Laguna Verde Lithium Project

The 217 sq km Laguna Verde project features a sq km hypersaline lake at the low point of the basin with a large sub-surface aquifer ideal for DLE. Laguna Verde is the company’s most advanced asset.

Project Highlights:

  • Prolific JORC-compliant Resource Estimate: The asset has a JORC-compliant resource estimate of 1.63 Mt of LCE at a grade of 200 mg/L lithium with further drilling planned.
  • Environmentally Friendly Extraction: The company’s asset is amenable to DLE. Instead of sending lithium brine to evaporation ponds, DLE uses a unique process where resin extracts lithium from brine, and then re-injects the brine back into the aquifer, with minimal depletion of the resources. The DLE process reduces the impact on environment, water consumption levels and production time compared with evaporation ponds and hard-rock mining methods.
  • Scoping Study: Scoping study completed in January 2023 indicated a production of 20,000 tons per annum LCE and an operational life of 30 years. Highlights of the study also includes:
    • Total revenues of US$6.3 billion
    • IRR of 45.1 percent and post-tax NPV8 of US$1.8 billion
    • Net cash flow of US$215 million

Pre-Feasibility Study and Project Development

The Pre-Feasibility Study (PFS) is nearly complete, with resource and wellfield design dependent on the finalized government polygon. This will allow CTL to expand its resources and develop wells on the newly acquired Minergy licences. Please refer to RNS dated 11th August 2025 available at www.ctlithium.com for more details.

Publication of the PFS will be deferred until CTL enters the streamlined CEOL process for confidentiality reasons. With existing infrastructure at Laguna Verde and the carbonate plant in Copiapó, project development conditions remain highly favourable.

CleanTech Lithium is advancing its Special Lithium Operating Contract (CEOL) application with the Chilean Government, which grants rights to exploit and sell lithium within a defined area.

To meet CEOL criteria, CTL recently acquired Minergy’s 30 mining licences at Laguna Verde, increasing ownership to over 97 percent of the government’s proposed project polygon. The milestone-based purchase deal strengthens CTL’s position and, together with shareholder support, is expected to enable entry into the streamlined CEOL process — a key milestone that could drive a major revaluation as the company capitalizes on the lithium market recovery.

Viento Andino Lithium Project

CleanTech Lithium’s second-most advanced asset covers 127 square kilometers and is located within 100 km of Laguna Verde, with a current resource estimate of 0.92 Mt of LCE, including an indicated resource of 0.44 Mt LCE. The company’s planned second drill campaign aims to extend known deposits further.

Project Highlights:

  • 2022 Lithium Discovery: Recently completed brine samples from the initial drill campaign indicate an average lithium grade of 305 mg/L.
  • Scoping Study: A scoping study was completed in September 2023 indicating a production of up to 20,000 tons per annum LCE for an operational life of more than 12 years. Other highlights include:
    • Net revenues of US$2.5 billion
    • IRR of 43.5 percent and post-tax NPV 8 of US$1.1 billion
  • Additional Drilling: Once drilling at Laguna Verde is completed in 2024, CleanTech Lithium plans to commence further drilling at Viento Andino for a potential resource upgrade.

Arenas Blancas

The project comprises 140 licences covering 377 sq km in the Salar de Atacama basin, a known lithium region with proven mineable deposits of 9.2 Mt and home to two of the world’s leading battery-grade lithium producers SQM and Albermarle. Following the granting of the exploration licences in 2024, the Cleantech Lithium is designing a work programme for the project.

The Board

Steve Kesler – Independent Non-executive Chairman

Steve Kesler has 45 years of executive and board roles experience in the mining sector across all major capital markets including AIM. Direct lithium experience as CEO/director of European Lithium and Chile experience with Escondida and as the first CEO of Collahuasi, previously held senior roles at Rio Tinto and BHP.

Ignacio Mehech – CEO

Ignacio Mehech brings over a decade of senior leadership experience in the lithium and mining sectors. During his seven-year tenure at Albemarle—the world’s largest producer of battery-grade lithium—he spent the last three years as Country Manager in Chile, overseeing a workforce of 1,100 and managing critical relationships with government, indigenous communities, and other key stakeholders. Mehech brings deep expertise in lithium project development, regulatory engagement, and sustainability. He has led high-profile engagements with global investors, customers, NGOs, analysts, scientists, and international governments. He also played a key leadership role in the El Abra copper operation—a joint venture between Codelco and Freeport-McMoRan—where he led the legal strategy and contributed to corporate transformation initiatives. Mehech holds a law degree from the Universidad de Chile and a Master’s in Energy and Resources Law from the University of Melbourne.

Paul Atherton – Non-executive Director

Paul Atherton is a Chartered Accountant with extensive experience in corporate finance across professional services and resource companies in sub-Saharan Africa. He served as CFO and later CEO of Heritage Oil, a former FTSE 250 company, before pursuing his interests as an angel investor and board director across the resources, technology, and healthcare sectors. A resident of Jersey, Paul also chairs the Board’s Audit & Risk Committee.

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Locksley Resources Limited (ASX: LKY, OTCQX: LKYRF, FSE: X5L) (“Locksley” or the “Company”), advises that the Company will host an investor webinar to discuss the Company’s recent announcements and the next phase of its U.S expansion strategy.

DATE & TIME: Wednesday, 5th November 2025 at 11:30am AEDT / 8:30am AWST

REGISTRATION LINK: https://janemorganmanagement- au.zoom.us/webinar/register/WN_2qv_ztFDQQqRqr3xkut8DQ

The webinar will cover a series of material updates, including:

  • Receipt of Letter of Interest from the U.S Export-Import Bank (“EXIM”) for up to US$191M in potential project financing support for the Mojave Critical Minerals Project in California.1
  • Commencement of the high-resolution heli-mag and radiometrics survey to accelerate drill targeting across the Mojave Project, California.2
  • Mobilisation of the Diamond Drill rig for the upcoming El-Campo Rare Earths Program, positioned along strike from MP Materials’ Mountain Pass Mine.3
  • Production of a 100% American-made antimony ingot in decades, validating the Company’s U.S Mine-to-Metal supply chain strategy.4

Newly appointed Managing Director & CEO, Ms. Kerrie Matthews5 will present on these milestones and discuss Locksley’s next-phase growth plan and U.S strategy.

Click here for the full ASX Release

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Sarama Resources Ltd. (“Sarama” or the “Company”) (TSX-V:SWA, ASX:SRR) announces that it has filed its written Memorial (the “Memorial”) detailing the Company’s claim against the Government of Burkina Faso (“GoBF”) as well as damages for the sum of US$242 million, plus interest.

The proceedings arise from the unlawful expropriation of the Company’s Tankoro 2 Exploration Permit (the “Permit”) in Burkina Faso and follow the submission of its Request for Arbitration (“RFA”) to the International Centre for Settlement of Investment Disputes (“ICSID”) in December 2024 (refer news release dated 12 December 2024).

On 31 October 2025, Sarama filed its written Memorial comprising its statement of case, witness evidence, and expert reports with ICSID, a division of the World Bank Group, detailing the claim against the GoBF.

The Company retained Accuracy London, a qualified and experienced Quantum Expert, to provide an independent valuation to support the claim submitted to ICSID.

Next Steps

  • The GoBF is required to file its Counter-Memorial by 31 January 2026.
  • A case management conference is scheduled for 17 February 2026 during which the final Procedural Timetable will be determined and the date for the Procedural Hearing will be set.
  • This will be followed by a series of further written submissions, after which a hearing will be held in Washington D.C., United States where Sarama will present its case and supporting evidence to the Tribunal.

The Company is represented by Boies Schiller Flexner (UK) LLP (“BSF”), a leading international law firm with significant experience in investor-state arbitration and a strong track record in the natural resources sector and has a US$4.4 million four-year non-recourse loan facility in place to cover all fees and expenses related to the claim.

Sarama’s Executive Chairman, Andrew Dinning commented:

“The filing of our Memorial is a significant milestone in the arbitration process and provides a comprehensive and substantiated basis for Sarama’s claim for compensation. The Company has invested more than a decade of work and substantial capital in advancing the Sanutura Project, which was unlawfully expropriated.

We are pursuing this process to protect shareholder value and to seek a fair and just outcome under internationally recognised mechanisms. With our legal team, expert advisors and funding arrangements in place, we remain fully committed to advancing the arbitration to its conclusion.”


Click here for the full ASX Release

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A bipartisan pair of senators are calling on Pentagon chief Pete Hegseth to hand over copies of the orders issued to strike boats in the Caribbean allegedly carrying narco-terrorists.

Sens. Jack Reed, D-R.I., and Roger Wicker, R-Miss., released two letters they sent to Hegseth in recent weeks in response to the repeated strikes on suspected drug boats.

The first letter, which was issued on Sept. 23, explained the legal requirements for congressional oversight over the military’s executed orders, including that congressional defense committees must be provided copies of the orders within 15 days of being issued.

‘Unfortunately, the Department has not complied with this requirement,’ the letter reads.

The second letter, issued on Oct. 6, seeks a written opinion from the Department of Justice’s Office of Legal Counsel (OLC) on the domestic or international legal basis for conducting the strikes and related operations.

Reports indicate that the OLC produced a legal opinion justifying the strikes, which numerous lawmakers have been demanding in recent weeks.

The senators’ letter also asked for a complete list ‘of all designated terrorist organizations and drug trafficking organizations with whom the President has determined the United States is in a non-international armed conflict and against whom lethal military force may be used.’

‘To date, these documents have not been submitted,’ Reed’s office said in a news release on Friday.

Lawmakers on both sides of the aisle have urged the Trump administration to release information related to the strikes.

Sen. Mark Warner, D-Va., the top Democrat on the Senate Intelligence Committee, criticized the administration on Thursday after it excluded Democrats from briefings on the strikes, a move he called ‘indefensible and dangerous.’

On Wednesday, Democrats on the Senate Judiciary Committee also penned a letter demanding to review the legal justification behind the series of boat strikes they say appear to violate several laws.

‘Drug trafficking is a terrible crime that has had devastating impacts on American families and communities and should be prosecuted. Nonetheless, the President’s actions to hold alleged drug traffickers accountable must still conform with the law,’ the letter states.

The strikes have also garnered scrutiny from Republicans, including Sen. Rand Paul, R-Ky., who raised concerns about killing people without due process and the possibility of killing innocent people.

Paul has cited Coast Guard statistics that show a significant percentage of boats boarded for suspicion of drug trafficking are innocent.

The senator has also argued that if the administration plans to engage in a war with Venezuela after it has targeted boats it claims are transporting drugs for the Venezuela-linked Tren de Aragua gang, it must seek a declaration of war from Congress.

In the House, Rep. Thomas Massie, R-Ky., has made similar statements.

A report published on Friday suggested the U.S. military was planning to strike military installations in Venezuela, but President Donald Trump and Secretary of State Marco Rubio said that the report was inaccurate.

This comes as Hegseth announced the U.S. military on Wednesday struck another boat carrying alleged narco-terrorists. The strikes were carried out in the Eastern Pacific region at the direction of Trump, killing four men on board.

That was the 14th strike on suspected drug boats since September. A total of 61 people have reportedly been killed while three survived, including at least two who were later repatriated to their home countries.

The Pentagon has refused to release the identities of those killed or evidence that drugs were on board.

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President Donald Trump spent the week in Asia meeting with other global leaders, including Chinese President Xi Jinping, while his administration ramped up its attacks against alleged drug boats in Latin America.

Trump met with Xi Thursday in South Korea, where the two hashed out a series of agreements concerning trade. Specifically, Trump said he agreed to cut tariffs on Chinese imports by 10% — reducing the rate to from 57% to 47% — because China said it would cooperate with the U.S. on addressing the fentanyl crisis.

Additionally, Trump said that he would not move forward with imposing an additional 100% tariff on Chinese goods that were expected to kick in Saturday. Trump threatened the steep hike after China announced in October it would impose export controls on rare earth magnets, which he said China had agreed to postpone by a year.

Afterward, Trump described the meeting as a massive success, and signaled that a broader trade deal between the two countries would be signed shortly.

‘Zero, to 10, with 10 being the best, I’d say the meeting was a 12,’ Trump told reporters after meeting with Xi. ‘A lot of decisions were made … and we’ve come to a conclusion on very many important points.’

From China’s point of view, Xi said afterward the two countries should work together and complete outstanding tasks from the summit for the ‘peace of mind’ of China, the U.S., and the rest of the world.

‘Both sides should take the long-term perspective into account, focusing on the benefits of cooperation rather than falling into a vicious cycle of mutual retaliation,’ Xi said, according to a state media report on the meeting.

Additionally, Trump announced on the Asia trip, which also included stops in Malaysia and Japan, that he would instruct the U.S. to revive nuclear weapons testing —upending decades of precedent on nuclear policy, as the U.S. has not conducted nuclear weapons testing since 1992. The announcement also left lawmakers, experts and military personnel wondering what he meant since no other country has conducted a known nuclear test since North Korea in 2017.

China’s and Russia’s last known tests go back to the 1990s, when Russia was still the Soviet Union.

The White House did not provide comment to Fox News Digital. The Pentagon did not respond to a request for comment.

However, experts are aligned that Trump likely meant he would instruct the U.S. to either increase its testing of nuclear-powered weapons systems or conduct tests of low-yield nuclear weapons.

Vice President JD Vance told reporters Thursday that Trump would continue to work on nuclear proliferation, but said testing would be done to guarantee weapons are working at optimal capability.

‘It’s an important part of American national security to make sure that this nuclear arsenal we have actually functions properly,’ Vance said. ‘And that’s part of a testing regime. To be clear, we know that it does work properly, but you got to keep on top of it over time. And the president just wants to make sure that we do that with his nation.’

The Trump administration also stepped up its campaign against drug cartels in Latin America, totaling at least 14 strikes against alleged drug boats in the region.

Secretary of War Pete Hegseth announced Tuesday that the U.S. had conducted three strikes against four vessels in the Eastern Pacific, and Hegseth announced Wednesday another strike had also been conducted in those waters.

But the White House dismissed reports Friday that the Trump administration had identified and was poised to strike military targets within Venezuela imminently. Trump later told reporters that he hadn’t determined whether he would conduct strikes within Venezuela.

Lawmakers — including some Republicans — have pressed for more answers on the strikes, and have questioned if they are even legal. For example, Sens. Adam Schiff, D-Calif., Tim Kaine, D-Va., and Rand Paul, R-Ky., spearheaded a war powers resolution that would prohibit U.S. armed forces from engaging in ‘hostilities’ against Venezuela.

‘The Trump administration has made it clear they may launch military action inside Venezuela’s borders and won’t stop at boat strikes in the Caribbean,’ Schiff said in an Oct. 17 statement.

The Associated Press contributed to this report.

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President Donald Trump wants Senate Republicans to gut the Senate filibuster, but it’s a request that puts his quick-fix desire to end the shutdown at odds with the GOP’s long-held defense of the filibuster.

The Senate filibuster is the 60-vote threshold that applies to most bills in the upper chamber, and given the nature of the thin majorities that either party has commanded in recent years, that means that legislation typically has to be bipartisan to advance.

It has also proven to be the main roadblock in reopening the government. Despite Republicans controlling the upper chamber, they have routinely come up a handful of votes short in their 13 attempts to end the shutdown.

Three members of the Democratic caucus have broken from Senate Minority Leader Chuck Schumer, D-N.Y., and their colleagues to reopen the government, but Senate Majority Leader John Thune, R-S.D., needs five more to hit the magic number.

Trump, in a late-night Truth Social post, said that on his return trip from Asia, he ruminated heavily over why the government had shut down despite Republicans being in control. His solution was for Senate Republicans ‘to play their ‘TRUMP CARD,’ and go for what is called the Nuclear Option.’

‘Get rid of the Filibuster, and get rid of it, NOW,’ Trump said.

Senate Republicans have already gone nuclear this year to unilaterally change the rules to blast through Schumer’s and Democrats’ blockade of Trump’s nominees. But for many Senate Republicans, including Thune and his leadership team, nuking the filibuster is a proverbial third rail.

‘There’s always a lot of swirl out there, as you know from, you know, social media, etc., but no, we’re not having that conversation,’ Thune said earlier this month when asked about pressure to go nuclear on the filibuster.

And there isn’t much daylight between his sentiments from earlier in October to now.

‘Leader Thune’s position on the importance of the legislative filibuster is unchanged,’ Thune’s spokesperson Ryan Wrasse said in a statement.

Earlier this month during an appearance on Fox & Friends, Senate Majority Whip John Barrasso, R-Wyo., shared a similar outlook as Thune when asked if the filibuster was under consideration to be on the chopping block.

‘No, that’s not going to be the case,’ he said. ‘There aren’t the Republicans that would want to support it.’

The filibuster has come under fire in the last decade from Senate Democrats, a point that Trump noted in his lengthy post.

The last time the filibuster was put to the test was when Democrats controlled the Senate in 2022. Schumer, who was majority leader at the time, tried to change the rules for a ‘talking filibuster’ in order to pass voting rights legislation.

But the effort was thwarted when then-Sens. Joe Manchin, D-W.Va., and Kyrsten Sinema, D-Ariz., joined Republicans to block the change. Both have since retired from the Senate and become independents.

Still, the stalemate in the Senate has shown no signs of shattering as the shutdown heads into November, though bipartisan talks among rank-and-file members have been on the rise as federal food benefits career toward a weekend funding cliff.

Across the building, House Speaker Mike Johnson, R-La., also warned against turning to the nuclear option for the filibuster, even as a handful of House Republicans have demanded that the safeguard be erased.

‘Look, I’ll just say this in general, as I’ve said many times about the filibuster, it’s not my call. I don’t have a say in this. It’s a Senate chamber issue,’ Johnson said. ‘But the filibuster has traditionally been viewed as a very important safeguard. If the shoe was on the other foot, I don’t think our team would like it.’

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With no deal in place to reopen the government and no action from the administration to make up for a funding shortfall in federal benefits, millions of Americans are at risk of losing food benefits starting on Saturday.

The argument raging in the Senate mirrors the same argument that has so far seen the government shutdown for 32 days.

Senate Democrats contend that with the stroke of a pen — like on expiring Obamacare subsidies — President Donald Trump could easily see the Supplemental Nutrition Assistance Program (SNAP), more commonly known as food stamps, funded as the shutdown drags on.

‘We don’t want to pit healthcare and food, [Republicans] do,’ Senate Minority Leader Chuck Schumer, D-N.Y., said. ‘We think you can have both.’

But congressional Republicans and the administration argue that food stamp benefits, and numerous other government programs, could be fully funded if Schumer and his caucus would unlock the votes to reopen the government.

Democrats are suing the Trump administration in part over its refusal to use the SNAP emergency fund, which they contend has about $5 billion, to fund the program. But a recent memo by the U.S. Department of Agriculture (USDA) argued there was no legal standing to use the fund and that federal SNAP funds would run dry by Nov. 1 if Democrats did not vote to end the shutdown.

A pair of federal judges ruled on Friday that the administration would have to pay out the food stamp benefits for November, either in full or partially. 

USDA Secretary Brooke Rollins affirmed the memo during a Friday press conference, ‘There is a contingency fund at USDA, but that contingency fund, by the way, doesn’t even cover, I think, half of the $9.2 billion that would be required for November SNAP. But it is only allowed to flow if the underlying program is funded.’

Nothing typified the dysfunction over the benefits, which 42 million Americans rely on, more than an explosion on the Senate floor this week between Senate Majority Leader John Thune, R-S.D., and Sen. Ben Ray Luján, D-N.M.

Luján tried to force a vote on his bill that would fund both food stamps and the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC), but was promptly blocked by an angry Thune, who argued that Democrats have had 13 chances to fund the program through the shutdown.

‘This isn’t a political game, these are real people’s lives we’re talking about,’ Thune said. ‘And you all have just figured out, 29 days in, that, oh, there might be some consequences.’

Democrats contend that Trump and the U.S. Department of Agriculture, which oversees the program, are actively choosing not to fund the program, given that there is roughly $5 billion in an emergency contingency fund that the administration could dip into.

Sen. Chris Murphy, D-Conn., charged that it was ‘Trump’s choice.’

‘He’s got $5 billion that he could be using right now to help people, to help people feed their kids, and he’s choosing not to do that,’ he said. ‘What he’s doing is sick, deliberately making this shutdown more painful as a means to try to get Democrats to sign on to an immoral, corrupt budget.’

The argument has been much the same in the House of Representatives, which passed the GOP’s federal funding bill on Sept. 19. Both Republicans and Democrats appear worried, however.

‘I just left the local food pantry in my district and was speaking with seniors there, and they’re all very concerned,’ Rep. Nicole Malliotakis, R-N.Y., whose district is home to more than 120,000 SNAP recipients, told Fox News Digital. ‘They agree with me that the Senate, beginning with their own senator, Senator Schumer, should vote to continue the existing funding levels that they previously voted for four times and prevent this unnecessary pain.’

There is a desire among both sides of the aisle to fund the program before the government reopens, but the likelihood of piecemeal bills, or ‘rifle-shots,’ making it to the floor was squashed by Thune during the week.

Both Luján and Sen. Josh Hawley, R-Mo., have bills that would fund food stamps, with Hawley’s bill having 29 bipartisan co-sponsors, including Schumer.

One of the co-sponsors, Sen. James Lankford, R-Okla., told Fox News Digital that the administration’s argument, in part, was because the $5 billion in the contingency fund was not enough to cover a month’s worth of food stamp benefits.

‘It’s hurricane season, and that’s what it’s really satisfying,’ he said. ‘But it’s not enough, either way. We’ve tried 14 times to be able to fully fund SNAP — once with an actual appropriation bill … to say, ‘let’s just fund it for the entire year,’ 13 times to do short term. It’s a little frustrating. Some of my Democratic colleagues are saying, ‘Well, find some way to fund it for a week or so, move things around.’’

But on the House side, it’s not clear if Democrats nor Republicans have the appetite for piecemeal bills during the shutdown.

Speaker Mike Johnson, R-La., has consistently said he will only call the House back into session if Senate Democrats vote to reopen the government.

Meanwhile, Fox News Digital asked Rep. Joe Neguse, D-Colo., during a press conference on SNAP this week whether he was discussing food stamp legislation with his Senate counterparts.

‘I’m familiar with the proposals, and I know that many of my colleagues … have proposed legislation here in the House as well. Those conversations will continue,’ Neguse said. But, ‘ultimately,’ he added, ‘legislation doesn’t need to be passed in order for these funds to be released. It is the law.’

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