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Trump moves nuclear submarines weeks after praising sub’s power in Iran strikes

President Donald Trump unveiled plans Friday to reposition two nuclear submarines as he and Russia’s former president sparred over Trump’s increased pressure on Moscow to end the war with Ukraine. 

After Trump announced a new deadline for Russia to end the conflict with Ukraine in early August, former Russian President Dmitry Medvedev said on Monday that the announcement is an additional ‘step towards war.’ 

‘Based on the highly provocative statements of the Former President of Russia, Dmitry Medvedev, who is now the Deputy Chairman of the Security Council of the Russian Federation, I have ordered two Nuclear Submarines to be positioned in the appropriate regions, just in case these foolish and inflammatory statements are more than just that,’ Trump said in a post on Truth Social Friday. 

The announcement comes just weeks after Trump praised the contributions of a guided-missile submarine involved in the strikes against Iran, which launched more than two dozen Tomahawk cruise missiles at key Iranian targets, officials said. 

‘By the way, if anyone thinks our ‘hardware’ was great over the weekend, far and away the strongest and best equipment we have, 20 years advanced over the pack, is our Nuclear Submarines,’ Trump said June 23 in a Truth Social post. ‘They are the most powerful and lethal weapons ever built, and just launched the 30 Tomahawks — All 30 hit their mark perfectly. So, in addition to our Great Fighter Pilots, thank you to the Captain and Crew!’

The mission, which targeted Iranian nuclear facilities Fordow, Natanz and Isfahan, also involved more than 125 U.S. aircraft, including B-2 stealth bombers, according to Chairman of the Joint Chiefs of Staff Gen. Dan Caine. 

Caine did not disclose the name of the submarine that was involved in the Iran strikes. However, he said that a ‘guided-missile submarine’ was involved. 

Four of the U.S. Navy’s Ohio-class submarines were converted into guided-missile submarines to accommodate conventional land attacks, as well as Special Operations Forces platforms. These submarines are the Ohio, Florida, Michigan and Georgia, according to the U.S. Navy. 

All U.S. Navy submarines are nuclear-powered, andTrump did not disclose additional details surrounding the submarines that would be repositioned amid increased tension with Russia. It is incredibly rare for defense officials to comment or reveal the locations of submarines, given the highly classified nature of their deployments and movements.  

Trump initially announced on July 14 that he would sign off on ‘severe tariffs’ against Russia if Moscow were to fail to agree to a peace deal within 50 days. However, Trump said Monday that waiting that period of time was pointless as negotiations have continued to drag on for months. 

‘I’m going to make a new deadline, of about 10 — 10 or 12 days from today,’ Trump told reporters in Scotland Monday. ‘There’s no reason for waiting. It was 50 days. I wanted to be generous, but we just don’t see any progress being made.’

In response, Medvedev, now the deputy chairman of the Security Council of Russia, accused Trump of playing the ‘ultimatum game.’ 

‘Trump’s playing the ultimatum game with Russia: 50 days or 10 … He should remember 2 things: 1. Russia isn’t Israel or even Iran. 2. Each new ultimatum is a threat and a step towards war. Not between Russia and Ukraine, but with his own country,’ Medvedev said in a post on X on Monday.

Trump’s new deadline comes amid heightened frustration with Russian President Vladimir Putin amid stalled progress toward peace between Russia and Ukraine, and just days after Russia launched more than 300 drones, four cruise missiles and three ballistic missiles into Ukraine, according to the Ukrainian air force.

This post appeared first on FOX NEWS

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Recess on ice as Republicans hunker down for high-stakes nominee blitz

Senate Republicans are still trying to hash out a deal with their Democratic counterparts to push through a package of President Donald Trump’s nominees as their scheduled departure from Washington has come and gone.

Republicans are under pressure from the White House, and their own members, to find a path forward, but Senate Democrats have largely dug their heels into the dirt in opposition in a bid to slow down the confirmation process. Lawmakers are still in town hammering toward a deal, while growing frustrations and weariness simmer in the upper chamber. 

Sen. Markwayne Mullin, R-Okla., appeared more upbeat about the state of affairs, despite rumblings that negotiations were faltering.

‘Democrats aren’t negotiating with us, we’re negotiating among ourselves,’ he told Fox News Digital. ‘I think we found, I think we may have found a landing spot.’

Underscoring negotiations with Senate Democrats are threats of rule changes to the confirmation process, which could speed things up but drive a partisan wedge even deeper between the aisles.

Trump had initially called on Senate Republicans to consider canceling their August recess to ram through as many of his nominees as possible. But late Thursday night, he took a more stern tone.

‘The Senate must stay in Session, taking no recess, until the entire Executive Calendar is CLEAR!!! We have to save our Country from the Lunatic Left,’ Trump said on his social media platform Truth Social. ‘Republicans, for the health and safety of the USA, DO YOUR JOB, and confirm All Nominees. They should NOT BE FORCED TO WAIT. Thank you for your attention to this matter!’

Senate Majority Leader John Thune, R-S.D., has been locked in negotiations with Senate Minority Leader Chuck Schumer, D-N.Y., throughout the week to hammer out a deal that would allow lawmakers to vote on a tranche of nominees quickly.

He told reporters Friday evening that he didn’t have a ‘report that adds any certainty to the question of schedule at the moment.’

‘It’s still in flux,’ he said.

Senate Republicans have moved at a rapid pace to add more and more nominees to the calendar, and so far have placed nearly 160 onto the schedule. Should a deal not be reached, and the GOP adheres to Trump’s demands, leaving Washington to return to their home states until early September may be out of the question.

While most Republicans are on board with trying to ram through Trump’s picks, the desire to leave Capitol Hill after a blistering seven-month stretch — where lawmakers have already confirmed over 120 of the president’s nominees — is palpable.

Sen. Jerry Moran, R-Kan., said that the idea that lawmakers would leave town in the next few days ‘seems to have disappeared.’

‘Grumpiness is here already, as you can hear from my tone, but we’re still here. We know the factor of weariness and other commitments outside of Washington, D.C., they work, but there is still a whole set of … nominations that need to be completed,’ he said.  

A bright spot for Republicans is that the resistance to advancing nominees and confirming them is not across the board among Senate Democrats.

Sen. Tim Kaine, D-Va., told Fox News Digital that he has plans for recess, but he’s ready to cancel those if need be.

‘My hope is that we’ll move a number of nominees through and get out fairly soon,’ he said. ‘But I’m not the one doing the negotiating.’

This post appeared first on FOX NEWS

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Iran says it has ‘plenty of scientists’ left to restart uranium enrichment, despite US, Israeli strikes

Iran still has the capabilities to enrich uranium — despite U.S. and Israeli strikes — and could restart its nuclear program if it wanted to, Tehran’s foreign minister claimed. 

While the U.S. struck three key Iranian nuclear sites, Israel destroyed much of its air defenses, took out top military commanders and killed at least 13 nuclear scientists and more than 1,000 people, according to figures put out by Tehran. Israel claims it killed 30 senior security officials and 11 top nuclear scientists. 

‘Buildings can be rebuilt. Machines can be replaced, because the technology is there. We have plenty of scientists and technicians who used to work in our facilities,’ Foreign Minister Abbas Araghchi said in a recent interview with the Financial Times. 

‘But when and how we restart our enrichment depends on the circumstances.’

Washington maintains that it inflicted significant damage to Iran’s two main uranium enrichment sites, Fordow and Natanz, and fired missiles that rendered the Isfahan facility essentially inoperable, setting Iran’s nuclear program back ‘years.’ 

Now, the world is watching to see whether Iran and the West will be able to come to a deal that ensures Iran does not work towards a nuclear weapon in exchange for sanctions relief. 

Araghchi said the U.S. must offer funds to Iran to compensate for last month’s strikes in order to move forward with negotiations. 

‘They should explain why they attacked us in the middle of . . . negotiations, and they have to ensure that they are not going to repeat that [during future talks],’ Araghchi said. ‘They have to compensate [Iran for] the damage that they have done.’

Araghchi claimed the so-called 12-Day War ‘proved there is no military solution for Iran’s nuclear program.’

Araghchi also said the strikes had prompted calls from within the regime to weaponize Iran’s nuclear program but claimed Iran would continue to abide by a two-decade-old fatwa banning the production of nuclear weapons. 

‘Anti-negotiation feelings are very high,’ Araghchi said. ‘People are telling me, ‘Don’t waste your time anymore, don’t be cheated by them . . . if they come to negotiations it’s only a cover-up for their other intentions.’’

The minister repeated Iran’s insistence that it would not give up its ability to enrich uranium for civil purposes — a sticking point for Washington. ‘With zero enrichment, we don’t have a thing.’ 

The White House could not immediately be reached for comment on Araghchi’s remarks. 

Israeli officials have admitted that some of Iran’s stockpile of highly enriched uranium did survive the attacks.  

European powers have threatenaed to trigger ‘snapback’ United Nations sanctions against Iran if there isn’t a breakthrough in nuclear talks.

Any of the current members of the 2015 nuclear deal, Joint Comprehensive Plan of Action — France, the UK, Germany, China, and Russia –  can invoke the snapback mechanism if they determine Iran hasn’t held up its end of the deal. The U.S. can’t trigger the sanctions because it pulled out of the deal and enacted unilateral ‘maximum pressure’ sanctions under Trump’s first administration. 

The U.S. heaped more pressure onto Tehran this week with new sanctions on the nation’s oil network and military drone enterprise. 

European diplomats have been meeting with Iran to relay how it could avoid snapback sanctions, including resuming cooperation with the International Atomic Energy Agency (IAEA) to monitor its compliance with nuclear limits. 

Araghchi said Iran would stop negotiating with Europe if they were to trigger the sanctions. ‘If they do snap back, that means that this is the end of the road for them.’  

This post appeared first on FOX NEWS

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Cambodia to nominate Trump for Nobel Peace Prize for role in ending country’s conflict with Thailand

Cambodia will nominate President Donald Trump for the Nobel Peace Prize after he helped the country reach a ceasefire agreement to end its border conflict with Thailand.

Sun Chanthol, Cambodia’s deputy prime minister, thanked Trump for bringing peace to the region while speaking to reporters earlier Friday in the country’s capital of Phnom Penh.

Chanthol said the American president deserved to be nominated for the Nobel Peace Prize, the highest-profile international award given to a person or organization for doing the most to ‘advance fellowship between nations.’

‘We acknowledge his great efforts for peace,’ Chanthol said.

Israeli Prime Minister Benjamin Netanyahu said last month he had nominated Trump for the Nobel Peace Prize and Pakistani officials said in June they would recommend him for the award for his role in helping to end its conflict with India.

Trump urged a ceasefire last week when he spoke to the leaders of Cambodia and Thailand and threatened that the U.S. would not get back to the ‘trading table’ with the Southeast Asian countries until the fighting stops.

A ceasefire was negotiated in Malaysia on Monday, ending the heaviest conflict between the two countries in over a decade.

‘Numerous people were killed and I was dealing with two countries that we get along with very well, very different countries from certain standpoints. They’ve been fighting for 500 years intermittently. And, we solved that war … we solved it through trade,’ Trump told reporters during his recent trip to Scotland.

 

Following news of the ceasefire, White House Press Secretary Karoline Leavitt wrote on X that Trump’s direct involvement led to the truce.

‘President Trump made this happen. Give him the Nobel Peace Prize!,’ she said.

The fighting began last week after a land mine explosion along the border wounded five Thai soldiers. Each side blamed the other for starting the clashes, which lasted five days.

At least 43 people were killed and more than 300,000 people were displaced on both sides of the border.

‘I said, ‘I don’t want to trade with anybody that’s killing each other,” Trump continued while in Scotland. ‘So we just got that one solved. And I’m going to call the two prime ministers who I got along with very, very well and speak to them right after this meeting and congratulate them. But it was an honor to be involved in that. That was going to be a very nasty war. Those wars have been very, very nasty.’

Chanthol, who also serves as Cambodia’s top trade negotiator, said his country was also grateful to Trump for a reduced tariff rate of 19%.

The Trump administration had initially threatened a tariff of 49% before later reducing it to 36%, a level that would have decimated Cambodia’s vital garment and footwear sector, Chanthol told Reuters.

Reuters contributed to this report.

This post appeared first on FOX NEWS

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Element79 Gold Corp Announces Execution of Definitive Agreement to Acquire Gold Mountain Project in Nevada

 

(TheNewswire)

 

     

   
             

 

Vancouver, BC TheNewswire – August 1, 2025 Element79 Gold Corp. (CSE: ELEM,OTC:ELMGF) (OTC: ELMGF) (FSE: 7YS0) (‘Element79 Gold’, the ‘Company’) is pleased to announce that it has executed a definitive Asset Purchase Agreement (the ‘Agreement’) dated July 31, 2025, with Donald James McDowell (the ‘Vendor’) for the acquisition of a 100% interest in the Gold Mountain Project located in Lander County, Nevada.

 

  The Gold Mountain Project consists of 34 unpatented mining claims covering highly prospective ground in the heart of Nevada’s Battle Mountain trend. Under the terms of the Agreement, Element79 Gold, through its wholly owned subsidiary ELEM Battle Mountain LLC, has agreed to acquire all rights, title, and interest in the Gold Mountain assets in exchange for the issuance of 100,000,000 common shares of the Company at a deemed price of C$0.02 per share, as well as a cash payment of US$137,485.85 payable following the closing of the Company’s next equity financing.  

 

  As part of the transaction, the Vendor will retain a 3% Net Smelter Return (NSR) royalty on all future mineral production from the project.   This arm’s length transaction is not considered a fundamental change for the Company.  No finder’s fees will be paid in conjunction with the transaction. The Company Will ensere that all required regulatory Filings are made in regards to this transaction.  

 

  Full details of the acquisition are available in the Asset Purchase Agreement filed on SEDAR+.  

 

  James Tworek, CEO of Element79 Gold, commented   :  

 

  ‘This acquisition marks a significant step in advancing our strategic focus in Nevada. The Gold Mountain Project provides a drill-ready opportunity with strong geological fundamentals in one of the most prolific gold regions in the world. Our technical team is preparing an exploration program for later this year to begin unlocking the value of this asset.’  

 

  About Element79 Gold Corp  

 

  Element79 Gold Corp is a mining company focused on gold and silver exploration, with a portfolio of assets in Nevada and Peru. The Company is actively advancing its Elephant project in the Battle Mountain trend of Nevada, as well as the drill-ready Gold Mountain project in Battle Mountain, Nevada. The Company also holds an option to purchase the high-grade Lucero mine in southern Peru.   Element79 Gold has completed the transfer of its Dale Property in Ontario to its wholly owned subsidiary, Synergy Metals Corp., and is progressing through the Plan of Arrangement spin-out process.   Element79 Gold is listed on the Canadian Securities Exchange (CSE: ELEM,OTC:ELMGF), the Frankfurt Stock Exchange (FSE: 7YS0), and the OTC Markets (OTC: ELMGF).  

 

  Investor Relations Contact:  

 

  Investor Relations Department  

 

  Email:     investors@element79.gold     
Phone: +1.604.319.6953  

 

  Corporate Contact:  

 

  James C. Tworek, Chief Executive Officer and Director  

 

  Email:     jt@element79.gold    

 

  Cautionary Note Regarding Forward Looking Statements  

 

  This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words ‘anticipate,’ ‘plan,’ ‘continue,’ ‘expect,’ ‘estimate,’ ‘objective,’ ‘may,’ ‘will,’ ‘project,’ ‘should,’ ‘predict,’ ‘potential’ and similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking statements concerning the Company’s exploration plans, development plans and the Force Majeure Event. Although the Company believes that the expectations and   assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on these statements because the Company cannot provide assurance that they will prove correct. Forward-looking statements involve inherent risks and uncertainties, and actual results may differ materially from those anticipated. Factors that could cause actual results to differ include conditions in the duration of the Force Majeure Event, and receipt of regulatory and shareholder approvals. These forward-looking statements are made as of the date of this press release, and, except as required by law, the Company disclaims any intent or obligation to update publicly any forward-looking statements.  

 

  Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.  

 

Copyright (c) 2025 TheNewswire – All rights reserved.

 

 

News Provided by TheNewsWire via QuoteMedia

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Anglo American’s Losses Widen with Diamond Slump, Trade Tensions Mounting

Anglo American (LSE:AAL,OTC Pink:AAUKF) reported a sharp US$1.9 billion net loss for the first half of 2025, deepening from US$672 million a year earlier, as the global miner pushed forward with a sweeping corporate overhaul aimed at focusing on copper and iron ore.

The London-based group’s latest results saw revenue dropping by 7 percent year-on-year to US$8.95 billion, falling short of analyst expectations, while underlying EBITDA fell 20 percent to US$3 billion.

“By focusing on our exceptional copper, premium iron ore and crop nutrients resource endowments, each with significant value-accretive growth options, we are unlocking material value for our shareholders,” Chief Executive Duncan Wanblad assured in the company’s recent performance report.

Anglo American’s portfolio shakeup continued at pace in the first half.

Following the May demerger of its platinum unit, now listed as Valterra on the Johannesburg Stock Exchange, the company has now designated its steelmaking coal and nickel operations as discontinued. Sales for both are agreed but not yet finalized.

A major piece of the puzzle remains De Beers, the iconic diamond brand in which Anglo holds an 85 percent stake. The miner confirmed it is pursuing both a trade sale and an IPO option, depending on market conditions and buyer appetite.

Wanblad said that while the company is prioritizing a trade sale for De Beers, it is also preparing the business for a potential IPO should market conditions warrant it.

The diamond market has been a major drag on performance. De Beers posted a US$189 million loss in the half-year period in the midst of a prolonged downturn in global rough-diamond demand and competition from synthetic stones.

Anglo American said it has already recorded US$3.5 billion in impairments related to De Beers over the past two years, valuing the unit at US$4.9 billion.

Despite the gloom, Wanblad maintained that De Beers has long-term potential. “With some of the best diamond mine resources and best marketing capabilities in the world, De Beers, I believe, is well positioned to emerge and thrive as the market recovers.”

Trade frictions causing market volatility

The company’s revenue decline was partly attributed to global trade disruptions, particularly from the US government’s shifting tariff strategy.

A recent announcement from President Donald Trump spared refined copper imports from sweeping new tariffs but left semi-processed products exposed, which triggered a sharp 18 percent drop in copper prices and dislocating demand patterns.

Anglo American noted that while it benefited from a 127 percent year-on-year increase in U.S. refined copper imports in the first five months of 2025, this redirected metal away from traditional markets in Asia and Europe.

Copper remains at the center of Anglo’s growth strategy. Post-restructuring, the metal is expected to account for over 60 percent of group EBITDA, according to internal forecasts.

In line with its weaker performance, Anglo American slashed its interim dividend to US$0.07 per share, down from US$0.42 last year. The company cited negative earnings contributions from its platinum and coal divisions and no contribution from De Beers.

De Beers exit timeline and options

The divestment of De Beers is progressing, with Anglo confirming it is now in the second round of its formal sale process, involving what it described as “a credible set of interested parties.”

The company is also in discussions with the government of Botswana, which holds a 15 percent stake and may seek to increase its ownership.

If a trade sale fails to materialize, Anglo is preparing for a public listing. Wanblad said exchanges in London, Johannesburg, and New York are all under consideration.

A trade sale could be finalized within six to nine months, he added, while an IPO would likely be delayed until early or mid-2026 depending on a recovery in diamond prices.

De Beers’ Venetia mine in South Africa, one of the country’s largest diamond operations, is undergoing a costly underground expansion aimed at extending its life beyond 2040.

Wanblad said Anglo remains engaged with stakeholders on the mine’s future, regardless of the group’s eventual exit from the diamond sector.

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

This post appeared first on investingnews.com

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Zinc Price Update: H1 2025 in Review

Zinc prices were in decline for much of the first half of 2025 as primary supply increased and demand from the construction sector slumped.

Primarily used to make galvanized steel destined for construction and manufacturing sectors, zinc has come under fire in recent years as inflation and interest rates took their toll.

The metal performed relatively well in 2024 as weak supply was offset by soft demand. However, as 2024 began, new threats to its performance emerged as the US began to look to tariffs to correct perceived trade imbalances.

Market performance by the numbers

The zinc price started the year with downward momentum, sliding from US$3,150 per metric ton on December 10 to US$2,750 on January 31.

Zinc price chart, January 1 to July 31, 2025

via TradingEconomics

The metal found some support in February and March, climbing to US$2,928 on February 24 and then reaching a year-to-date high of US$2,971 on March 14; however, it wasn’t to last. The bottom fell out from under Zinc and quickly plunged to its year-to-date low of US$2,562 on April 9.

Since then, the zinc market has been volatile, and although it has recovered somewhat, it is still far from its first-quarter highs, peaking at US$2,865 on July 23.

What’s behind the price?

According to a review from the Shanghai Metal Market (SMM) on June 29, ex-China zinc concentrate production increased by 6.47 percent in the first quarter to 1.3 million metric tons versus 1.22 million metric tons during the same period of 2024.

It attributed these increases to resumption in production at Boliden’s Tara mine in Ireland, and ramp-ups at Grupo Mexico’s Buenavista mine in Mexico and Ivanhoe’s Kipushi mine in the Democratic Republic of the Congo.

Additionally, SMM noted that Xinjiang’s Huoshaoyun lead-zinc mine started production in May, with output reaching 50,000 metric tons in its first two months and is expected to reach 150,000 metric tons in July. The company is targeting full-year production of 700,000 to 750,000 metric tons.

Although supply seems robust and Chinese imports of concentrates increased 52.46 percent over 2024, treatment charges for imported metal have also increased from US$20 per metric ton at the start of the year to US$65 in May. The sharp increase in fees indicates an oversupply in the market, allowing smelters to charge more.

The SMM findings are further supported by data released from the International Lead and Zinc Study Group (ILZSG), which reported on June 18 that mining supply had increased during the first four months of the year to 3.94 million metric tons from 3.75 million metric tons in 2024.

It also showed flat demand for the metal with 4.28 million metric tons consumed during that period versus 4.3 million metric tons last year.

Changing US policy

A steep decline in commodity prices in April demonstrates just how fragile the global markets can be.

Zinc prices fell 13.77 percent at the start of April to US$2,562 per ton alongside President Trump’s “Liberation Day” tariff announcement and subsequent sell-off in the equity and US Treasury markets.

The prediction from analysts at the time was that if reciprocal tariffs were put in place, it would trigger a recession before the end of the year, impacting consumer spending on homes and cars, which have significant zinc inputs.

Demand for the metal has already been weak over the past several years due to high inflation and interest rates following the pandemic. Although inflation has eased, and interest rates have begun to normalize, the new tariff threat provides a new layer of uncertainty.

So far, auto makers have yet to raise their prices, but demand for new cars increased 2.5 percent in March, double the 1.1 percent typical for the same period in recent years. The gain is attributed to consumers looking to get ahead of more significant price increases down the line.

The impetus behind the tariffs is to stimulate domestic production, but the willingness from producers to follow through on new US projects remains uncertain.

For its part, the Trump administration has signalled its willingness to back large infrastructure and critical mineral projects by continuing the FAST-41 program that started under President Joe Biden.

The program aims to streamline the permitting process and speed development timelines to get the projects to production faster.

So far, the only zinc project to be included on the list is South32’s Hermosa, near Tucson, Arizona.

Progress at the site has continued with the company reporting in its update for the June quarter that it had made US$517 million in investments in FY25. It also stated that work on the main and ventilation shafts began during the second quarter, and construction work at the processing plant had begun.

In addition to development activities, the company also reported that it met a key milestone with the US Forest Service releasing a draft environmental impact statement.

The project is expected to see its first production from the Taylor deposit during the second half of 2027.

As a campaign promise, Trump proposed freeing up federal lands for housing projects, which could drive demand for galvanized steel products. The plan would invite developers to bid on land with the promise that a percentage of units would be set aside for affordable housing, and close the 4 million home shortfall.

However, a report from Realtor.com on July 22 poured cold water on the idea, stating that while it could offer incremental gains, it noted that there wasn’t enough land in places that need housing most.

Instead, the report suggested there are better methods available, including land use and zoning reforms, and increasing construction capacity in high-demand regions.

So where does that leave zinc?

With supply surpluses expected from the ILZSG, a significant turnaround may not be in the cards for zinc prices in the short term, especially when met by weak demand due to tariff uncertainty.

Although there was some recovery at the end of the second quarter, the oversupply situation doesn’t lend much support for the market to turn bullish.

The market has largely seen a dearth of investment as the market fundamentals haven’t provided support.

A June 11 report from analysts with German investment bank, IKB, noted the oversupply situation developing in the Zinc market and forecast that by the end of the third quarter, zinc prices will be trading in the US$2,600 per ton range.

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

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Eric Sprott Announces Securities of Summa Silver Corp.

Exchanged for Securities of Silver47 Exploration Corp. Pursuant to the Plan of Arrangement

Eric Sprott announces that, on August 1, 2025, 2176423 Ontario Ltd. (a corporation beneficially owned by him) acquired 10,383,434 common shares of Silver47 Exploration Corp., (Silver47 Shares) and 1,525,000 Silver47 Share purchase warrants (Silver47 Warrants) upon the closing a statutory plan of arrangement (Arrangement), pursuant to which Silver47 Exploration acquired all the outstanding common shares of Summa Silver Corp (Summa Silver Shares). Pursuant to the Arrangement, among other things, holders of Summa Silver Shares received 0.452 of a Silver47 Share for every Summa Silver Share they held. Mr. Sprott now beneficially owns over 10% of the outstanding Silver47 Shares.

Summa Silver holdings: Prior to the Arrangement, Mr. Sprott beneficially owned 22,972,200 Summa Silver Shares and 3,375,000 Summa Silver Share purchase warrants, representing approximately 15.3% of the outstanding Summa Silver Shares on a non-diluted basis, and approximately 17.2% on a partially diluted basis assuming exercise of such warrants. As a result of the Arrangement, Mr. Sprott no longer holds any securities of Summa Silver, and Mr. Sprott (as well as 2176423 Ontario Ltd.) ceased to be insiders of Summa Silver.

Silver47 Exploration holdings: Prior to the Arrangement, Mr. Sprott beneficially owned 5,500,000 Silver47 Shares and 750,000 Silver47 Warrants, representing approximately 7.8% of the outstanding Silver47 Shares on a non-diluted basis, and approximately 8.8% on a partially diluted basis assuming exercise of such warrants. As a result of the Arrangement, Mr. Sprott now beneficially owns 15,883,424 Silver47 Shares and 2,275,000 Silver 47 Warrants representing approximately 11.5% of the outstanding Silver47 Shares on a non-diluted basis, and approximately 12.9% on a partially diluted basis assuming exercise of such warrants

Mr. Sprott has a long-term view of the investment in Silver47 Exploration securities and may acquire additional securities of Silver47 Exploration including on the open market or through private acquisitions or sell securities including on the open market or through private dispositions, in the future, depending on market conditions, reformulation of plans and/or other relevant factors.

Summa Silver is located at 918-1030 West Georgia St., Vancouver, British Columbia, V6E 2Y3. Silver47 Exploration is located at 551-409 Granville St., Vancouver, British Columbia, V6C 1T2 A copy of the relevant early warning report with respect to the foregoing will appear on Summa Silver’s or Silver47 Exploration’s profile, as applicable, on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott’s office at (416) 945-3294 (2176423 Ontario Ltd., 7 King Street East, Suite 1106, Toronto, Ontario, M5C 3C5).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260984

News Provided by Newsfile via QuoteMedia

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Crypto Market Update: Coinbase Misses Q2 Revenue Target, Tariff Headwinds Grow

Here’s a quick recap of the crypto landscape for Wednesday (August 1) as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$114,797, down by 2.8 percent over the last 24 hours. Its highest valuation on Friday was US$118,696, while its lowest valuation was US$114,322.

Bitcoin price performance, August 1, 2025.

Chart via TradingView

Bitcoin’s price drop followed sweeping new US tariffs, including a 35 percent levy on Canadian imports, which rattled risk assets broadly. In parallel, the Federal Reserve’s decision to maintain interest rates at 4.25 percent –4.50 percent and stronger-than-expected inflation data dampened hopes of near-term rate cuts, adding downside pressure to Bitcoin’s price

Ethereum (ETH) was priced at US$3,595.75, down by 5.2 percent over the past 24 hours. Its lowest valuation on Friday was US$3,591.61, and its highest was US$3,809.48.

Altcoin price update

  • Solana (SOL) was priced at US$167.55, down by 5.4 percent over 24 hours. Its lowest valuation on Friday was US$165.43, and its highest was US$179.17.
  • XRP was trading for US$3.03, down by 2.2 percent in the past 24 hours. Its lowest valuation of the day was US$2.91, and its highest valuation was US$3.13.
  • Sui (SUI) is trading at US$3.52, down 6.7 percent over the past 24 hours. Its lowest valuation of the day was US$3.45, and its highest was US$3.81.
  • Cardano (ADA) was trading at US$0.7321, down by 4.1 percent over 24 hours. Its lowest valuation on Friday was US$0.7137, and its highest was US$0.7731.

Today’s crypto news to know

Coinbase revenue misses as trading volumes lag

Shares of Coinbase Global (NASDAQ:COIN) fell 12 percent in premarket trading Friday (August 1) after the crypto exchange missed Wall Street expectations for second-quarter revenue.

While revenue grew 3.3 percent year over year to US$1.5 billion, it fell short of the US$1.59 billion estimate and was down from US$2 billion in the previous quarter.

Spot trading volumes declined globally and in the US, with average market capitalization roughly flat during the period, according to the company’s shareholder letter.

Still, net income surged to US$1.43 billion, largely from unrealized gains on its crypto holdings and investments.

Coinbase continues to diversify, noting it is testing traditional stock, FX, and commodity trading. The company was recently added to the S&P 500 (INDEXSP:INX) in May.

Assetera expands access to tokenized securities with Plug-and-Play API

Austria-based trading platform Assetera has launched a MiFID-compliant API that lets crypto exchanges offer tokenized securities, which include US Treasuries and blue-chip stocks, without needing their own regulatory license.

The service provides over 60 financial instruments at launch and handles all compliance responsibilities, including KYC and anti-money laundering checks. Assetera is targeting crypto platforms in the European Union and European Economic Area, aiming to break the dominance of major players like Kraken and Gemini in tokenized assets.

The company says it’s in discussions with several top-20 global crypto exchanges and anticipates €1 billion in trading volume during its first year.

Strategy’s US$10 billion profit fails to impress investors, treasury model dominates

Despite posting a massive US$10 billion profit for Q2, Strategy’s (NASDAQ:MSTR) share price dropped 1.4 percent in after-hours trading, highlighting investor concern about the company’s future beyond Bitcoin.

Strategy, formerly focused on enterprise software, has increasingly transformed into a corporate Bitcoin treasury. The firm now holds over 628,000 BTC, comprising more than 3 percent of the total supply, valued at US$74 billion.

Michael Saylor’s pivot has inspired imitators like Japan’s Metaplanet, which converted hotel assets into crypto. Despite the dip, the firm’s next move includes raising US$4.2 billion through a new STRC offering to buy more Bitcoin.

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

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

This post appeared first on investingnews.com

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Albemarle Swings to Profit, Lowers Spending Amid Prolonged Lithium Slump

Albemarle (NYSE:ALB), one of the world’s largest lithium producers, is cutting costs and narrowing its capital investment plans as it adjusts to ongoing weakness in lithium prices, even as demand from electric vehicle and energy storage sectors holds up better than expected.

The Charlotte-based company reported a second-quarter profit of US$22.9 million, a significant turnaround from the US$188.2 million loss it posted a year ago.

While total revenue fell 7 percent to US$1.33 billion, the figure still came in ahead of Wall Street’s US$1.22 billion estimate, buoyed by stronger-than-expected results in its specialties division and disciplined cost management.

“Our job is just to keep working on the things that are in our control, because we don’t really have a clear line of sight to where pricing is going,” Chief Financial Officer Neal Sheorey told investors Thursday.

Sheorey said Albemarle has reached its US $400 million annualized cost-savings and productivity target, citing measures such as supply chain restructuring and improved operations at lithium conversion and mining sites.

The company now expects to spend between US$650 million and US$700 million in capital expenditures for the full year, narrowing its previous guidance of US$700 million to US$800 million.

With lower spending and continued operational execution, Albemarle said it expects to achieve positive free cash flow for 2025—so long as current lithium prices, which have hovered around US$9 per kilogram, persist.

Lithium prices down, but demand remains resilient

Lithium prices have come off their historic highs of 2021–2022, when a global EV boom and constrained supply sent costs soaring above US$70 per kilogram.

But that surge spurred rapid supply growth, and by late 2022, the market entered a surplus. Prices have since declined sharply and now sit near levels that are not considered economically viable for many new or greenfield projects.

Despite the pricing downturn, Sheorey emphasized that demand for lithium has not collapsed. During the company’s earnings call, he maintained that demand has held up better than expected this year, pointing to robust growth in China and Europe that is offsetting a more subdued US market.

“The outlook in North America is less certain, particularly in the United States due to the potential impact of tariffs and the removal of the 30D tax credit in September,” Sheorey said, adding that the US accounts for only about 10 percent of global electric vehicle sales.

In contrast, EV sales in China rose 41 percent year-to-date, including a 44 percent jump in battery electric vehicles spurred by recent subsidies, while Europe also showed double-digit growth.

Still, Sheorey cautioned that pricing remains under pressure. “We continue to expect the full-year EBITDA margin [for energy storage] to average in the mid-20 percent range assuming our $9 per kilogram price scenario,”

According to Albemarle’s internal analysis, the market could return to balance as early as next year if current price levels persist. “New project development has begun to slow, while demand continues to be robust,” the company said. It estimates that demand growth could outstrip supply growth by up to 10 percent per year between 2024 and 2030.

Much of the company’s current optimism stems from performance at its integrated production and processing facilities, particularly due to strong volumes from Albemarle’s Wodgina mine and the Salar yield improvement project.

With lithium demand expected to more than double by 2030, Albemarle is betting that its investments in operational excellence and global reach will pay off once the market stabilizes.

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

This post appeared first on investingnews.com

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