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Locksley Strengthens U.S. Defense Supply Chain Strategy with Appointment of Lockhead Martin Materials Leader to Advisory Board

Locksley Resources Ltd. (ASX: LKY,OTC:LKYRF; OTCQX: LKYRF) announced the company has appointed Stacy Newstead to its advisory board as Strategic Advisor-Materials Strategy.

Ms. Newstead brings more than 20 years of experience across U.S. government, defense and industrial sectors. She currently serves as Materials Strategy and Risk Manager at Lockheed Martin, where she leads initiatives to secure domestic and allied sources of key materials vital to U.S. defense manufacturing and national security. Her work focuses on assessing and mitigating material pricing and geopolitical risk across supply chains that underpin critical technologies including munitions, batteries, and aerospace systems. Her prior roles include senior program leadership at Huntington Ingalls Industries and Textron Systems, as well as CEO of the U.S. subsidiary of Evolution Energy Minerals, where she led onshoring initiatives for graphite and advanced battery materials. More information can be found here:  https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03026929-6A1298599&v=undefined.

‘Stacy’s appointment strengthens Locksley’s ability to engage with U.S. partners and access federal programs supporting domestic critical mineral supply chains,’ said Kerrie Matthews, Locksley CEO. ‘Her deep understanding of defense material supply chains, coupled with her leadership at Lockheed Martin, brings exceptional strategic value to Locksley as we advance our mine-to-market development of American sourced antimony and rare earths.’

Matthews added that Newstead’s perspective on material security and risk is expected to help guide engagement with U.S. industry and government stakeholders as Locksley scales from pilot to commercial operations.

Locksley Resources (https://www.locksleyresources.com.au) is focused on critical minerals in the U.S. The company is actively advancing the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley is executing a mine-to-market strategy for antimony, aimed at reestablishing domestic supply chains for critical materials, underpinned by strategic downstream technology partnerships with leading U.S. research institutions and industry partners. This targeted approach, combined with resource development with innovative processing and separation technologies, positions Locksley to play a key role in advancing U.S. critical materials independence.

Contact: Beverly Jedynak, beverly.jedynak@viriathus.com, 312-943-1123; 773-350-5793 (cell)

View original content:https://www.prnewswire.com/news-releases/locksley-strengthens-us-defense-supply-chain-strategy-with-appointment-of-lockhead-martin-materials-leader-to-advisory-board-302624138.html

SOURCE Locksley Resources

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Crypto Market Update: Wall Street Pulls Back US$5 Billion as Bitcoin Premium Shrinks

Here’s a quick recap of the crypto landscape for Monday (November 24) as of 9:00 a.m. UTC.

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

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$86,884.76, down by 1 percent over 24 hours. Its lowest price of the day was US$85,545.99, and its highest was US$87,995.12.

Bitcoin price performance, November 24, 2025.

Chart via TradingView

Ether (ETH) was at US$2,835.53, down 0.2 percent over 24 hours. Its lowest price on Monday was US$2,770.21 and its highest was US$2,881.29.

Altcoin price update

  • XRP (XRP) was priced at US$2.07, up by 1.2 percent over 24 hours. Its lowest price of the period was US$2.03 and its highest was US$2.10.
  • Solana (SOL) was trading at US$130.37, down by 0.7 percent over 24 hours. Its lowest price of the day was US$128.65 and its highest was US$133.96.

Today’s crypto news to know

Wall Street firms scale back MicroStrategy exposure

Fresh filings show major US asset managers cut their exposure to Strategy (NASDAQ:MSTR) (formerly MicroStrategy) through the third quarter, reducing positions by more than US$5 billion as the stock’s premium to its Bitcoin holdings continued to compress.

The company’s mNAV multiple has fallen close to parity as the market reassesses how much extra value investors are willing to assign to a Bitcoin-heavy corporate balance sheet. Pressure intensified after JPMorgan warned clients that MSCI is weighing whether companies with more than half of their assets in crypto should remain eligible for major equity indexes.

Index exclusion would not affect operations, Strategy chairman Michael Saylor said, but it has accelerated debate about the long-term viability of the digital-asset-treasury model.

Filings indicate that investment firms like BlackRock, Vanguard, and Capital International all pared their holdings, even as Bitcoin remained relatively stable earlier in the quarter.

Analysts say institutional investors could continue reducing exposure to corporate BTC proxies if volatility persists, as Bitcoin now faces one of its sharpest drawdowns since 2022.

JPMorgan hit by backlash After new debanking allegations

JPMorgan Chase & Co. (NYSE:JPM) is facing an uproar from Bitcoin advocates after Strike CEO Jack Mallers disclosed that the bank abruptly closed his personal accounts in September without explanation.

According to a report by the The Street, the news came just days after a JPMorgan research note highlighted MSCI’s proposal to exclude companies holding more than 50 percent. of their assets in crypto from its flagship indexes.

The move was widely interpreted as targeting Bitcoin-treasury firms such as Strategy. Crypto advocates quickly labeled the developments a revival of “Operation Chokepoint 2.0,” arguing that major banks and regulators are again restricting access to financial services for digital-asset firms and their executives.

The controversy has prompted calls across Bitcoin forums and social media for a coordinated boycott of JPMorgan, echoing earlier grievances about sudden account closures dating back to 2017.

Michael Burry debuts newsletter after Scion shutdown

Michael Burry, best known for his prescient bet against the US housing market in 2008, has launched a paid Substack newsletter soon after closing his hedge fund, Scion Asset Management.

In his introductory post, Burry emphasized that the move does not mark retirement but rather a shift toward writing without the regulatory constraints that accompany professional money management.

Priced at US$39 per month, the newsletter quickly drew more than 21,000 subscribers. Early essays revisit his trading history during the dot-com era and outline why he views today’s AI-driven boom as a supply-glutted bubble primed for correction.

With Scion now closed, Burry says the newsletter will become his primary outlet for analysis as he continues to track what he views as speculative excess building across technology markets.

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.

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FPX Nickel Becomes First Company with British Columbia Exploration Property to Achieve ECOLOGO® Certification, Reinforcing Commitment to Responsible Exploration

 FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (‘FPX’ or the ‘Company’) is pleased to announce that it has successfully obtained UL Solutions ECOLOGO® certification, a leading third-party verification program for sustainable practices in the mineral exploration sector.

‘Securing ECOLOGO® certification from UL Solutions is a significant achievement for FPX,’ said Martin Turenne, FPX’s President and CEO. ‘It demonstrates our team’s commitment to going beyond regulatory requirements and embedding sustainable practices into our work. Importantly, this certification underscores our respect for Indigenous rights and the communities where we operate, and reflects our belief that responsible exploration is the foundation of successful project development.’

The ECOLOGO® certification is administered by UL Solutions and is recognized across Canada as a rigorous standard for environmental, social, and governance (‘ESG‘) performance. Designed to promote responsible natural resource development, the ECOLOGO® program assesses exploration companies against criteria such as environmental protection, health and safety, respect for Indigenous rights, and community engagement.

‘Earning UL Solutions ECOLOGO® certification empowers mineral exploration companies to demonstrate independently verified leadership in environmental stewardship,’ said Ranee Valles, director and general manager of the Product Sustainability group at UL Solutions. ‘In an era where transparency drives investor confidence and regulatory compliance is non-negotiable, this certification not only differentiates certified companies in the marketplace but also fosters stronger trust with stakeholders and local communities.’

The certification process involved a comprehensive desktop audit of corporate policies and practices, as well as a field audit conducted during the 2025 Baptiste exploration program, to ensure alignment with leading ESG benchmarks. Significantly, FPX is the first company in Canada to achieve ECOLOGO® certification for a company with operations located outside of Quebec. FPX is also pleased to report that the certification process was completed from July to September 2025, reflecting strong corporate and field ESG policies and practices supporting an efficient and timely audit process.

For First Nations and local communities, ECOLOGO® certification provides assurance that FPX will continue to operate with transparency, accountability, and with a focus on minimizing environmental impacts. For investors, certification represents an additional layer of due diligence, strengthening the Company’s ESG profile and positioning it for success in an evolving investment landscape. FPX believes that responsible exploration is essential to building trusted relationships and to advancing projects that can deliver both economic and social value. The Company will continue to work closely with Indigenous rights holders, regulators, and local communities to ensure its activities align with the sustainability standards and best practices.

About the Baptiste Nickel Project

The Company’s Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni3Fe) hosted in an ultramafic/ophiolite complex.  The absence of sulphur and our ability to connect to the BC Hydro grid means that Baptiste has the potential to be one of the lowest carbon-intensive nickel producers in the world and will produce a very high-grade product that does not require any intermediate smelting or complex refining.  The Baptiste mineral claims cover an area of 453 km2 west of Middle River and north of Trembleur Lake, in central British Columbia.  In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit.  Since 2010, approximately US$55 million has been spent on the exploration and development of Baptiste.

FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders. In 2024, the Province of British Columbia identified the Baptiste Nickel Project as the first project to be included in the Province’s new Critical Minerals Office (‘CMO’) concierge service initiative, a provincial strategy action to enable the prioritization of critical minerals projects in B.C. The CMO initiative is providing an excellent structure to proactively identify and address issues and opportunities ahead of the Project’s entry into the environmental assessment process.

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Baptiste Nickel Project, located in central British Columbia, and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite.  For more information, please view the Company’s website at https://fpxnickel.com/.

On behalf of FPX Nickel Corp.

‘Martin Turenne’
Martin Turenne, President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered ‘forward-looking information’ within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company’s periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

SOURCE FPX Nickel Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2025/24/c5350.html

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Glenstar Receives Drill Permit for Phase 2 Program at Green Monster Project

Glenstar Minerals Inc. (CSE: GSTR) (OTCQB: GSTRF) (FSE: VO20) (‘Glenstar’ or the ‘Company’) announces that it has granted a permit by the Bureau of Land Management (the ‘BLM’) to conduct the Phase 2 drill program at its Green Monster Project in southwestern Nevada.

The permit allows the Company to drill nine (9) holes over four (4) locations on the property and will be comprised of approximately 300 metres of strike length exploration. As currently planned, Glenstar will collar two (2) holes in the area of the primary drilling undertaken in the Phase 1 drill program; three (3) holes will focus on the area that is considered the ‘discovery’ zone 150 metres to the west of the primary Phase 1 drill site, and two (2) holes each at two (2) sites will be situated further west along what is believed to be the mineralized east-west trending belt.

The precise location of each drill hole is yet to be determined and will be decided upon review of the data gleaned from the previously announced Hybrid-Source Audio-Magnetotellurics Survey (the ‘HSAMT‘ or ‘Survey‘) that was conducted by Hasbrouck Geophysics, Inc. (‘Hasbrouck‘) of Prescott, Arizona and Advantage Geophysics, Inc. (‘Advantage‘) of Phoenix Arizona. This survey has now concluded and the results, along with the various data sets, will be contained in a final report that will be provided to the Company by Hasbrouck. This report is expected to be completed in early December and the results will be instrumental in determining the best, and most advantageous, location for each hole of the Phase 2 drill program.

The survey data was acquired at intervals of 50 metres along 13 lines and was conducted by a 3-person field team from Advantage, in conjunction with Hasbrouck. The data collected is currently being analysed and interpreted using sophisticated software that will convert it into two- and three-dimensional cross-sections in depth and/or elevation formats. The complete data set will be interpolated into a rectangular cube and horizonal depth slices, referenced to the surface. The final report will detail the methodology, data acquisition, processing, modeling, and interpretation of the data (see news release dated October 29, 2025) and will provide Glenstar’s geologic team with the information it needs to best determine the location of each drill hole in the Phase 2 program.

Glenstar CEO, Dave Ryan, stated, ‘The completion of the geophysical field work is an important milestone. Once we have the final report from Hasbrouck we will use this data to target sulfide facies mineralization in the area of the oxide mineralization that was intersected last summer.’

Project Background & Recent Exploration Work

The Green Monster Property is comprised of 35 federal lode claims covering ~700 acres located in Clark County, Nevada, on the west trending spur of the Spring Mountains and is approximately 40 miles southwest of Las Vegas. Until the recent drill program in May of 2025, no drilling was ever conducted on the property, but the Company’s previous identification of robust nickel-copper with anomalous cobalt from sampling work done in 2022 indicated that several targets were ideal for shallow RC drilling (see news releases dated May 28, 2025, and July 16, 2025).

Glenstar acquired the Green Monster Property and conducted initial groundwork in 2022 that included reconnaissance geologic mapping, surface rock sampling, soil sampling, and a drone magnetic survey. Channel sampling across the exposed back of a raise off the main shaft returned 1.18 meters of 3.77% Cu (Copper), 3.06% Ni (Nickel), 0.21% Co (Cobalt) and 6.83% Zn (Zinc). These values are well in excess of select dump samples from historical underground workings and represent in-place, vein style mineralization. Sampling of oxide and sulfide bearing boulders directly downhill of the patented workings has confirmed the presence of very high zinc (>10%) and silver (>200ppm), as well as copper, uranium, and lead. (Sampling results provided above were previously published in the Green Monster Project NI 43-101 Technical Report dated June 20, 2023, Section 7.5).

About Glenstar Minerals Inc.

Glenstar is a mineral exploration company with a focus on polymetallic minerals. These elements are classified as critical minerals and are essential in the manufacturing of sophisticated electronics and other vital energy technologies. The Company’s mission is to leverage its knowledge and connections to explore, acquire, and develop critical mineral and energy metal properties throughout the world.

Glenstar’s shares trade on the Canadian Securities Exchange (CSE) under the symbol ‘GSTR’, on the Frankfurt Stock Exchange under the symbol ‘VO20’, and on the Over-the-Counter market (OTCQB) in the United States under the symbol ‘GSTRF’.

Robert Marvin, P.Geo (ONT) is the qualified person as defined by National Instrument 43-101 and is the independent consulting geologist for Glenstar Minerals Inc., who has examined the Green Monster and Wildhorse properties on the ground numerous times since 2022 and 2024 respectively. All fieldwork relating to geologic observations and sampling as reported herein, has been directly overseen by Mr. Marvin who supervised the preparation of, and has reviewed and approved, the technical information in this release.

ON BEHALF OF THE BOARD,

‘David Ryan’
President & CEO

Further information regarding the Company can be found on SEDAR+ at www.sedarplus.ca, by visiting the Company’s website at www.glenstar.ca or by contacting the Company directly at 604-449-2810.

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

Cautionary Statement Regarding Forward-Looking Information Certain information contained in this news release constitutes ‘forward-looking information’ or ‘forward-looking statements’ (collectively, ‘forward- looking information’). Without limiting the foregoing, such forward-looking information includes statements regarding the process and completion of any Offering, the use of proceeds of the Offering and any statements regarding the Company’s business plans, expectations and objectives. In this news release, words such as ‘may’, ‘would’, ‘could’, ‘will’, ‘likely’, ‘believe’, ‘expect’, anticipate’, ‘intend’, ‘plan’, ‘estimate’ and similar words and the negative form thereof are used to identify forward-looking information.

Forward-looking information should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. Mineral exploration is subject to risks and uncertainties and there is no assurance that any potential results or findings that may be suggested in this press release will ultimately happen. Forward-looking information is based on information available at the time and/or the Company management’s good faith belief with respect to future events and is subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Company’s control. For additional information with respect to these and other factors and assumptions underlying the forward-looking information made in this news release, see the Company’s most recent Management’s Discussion and Analysis and financial statements and other documents filed by the Company with the Canadian securities commissions and the discussion of risk factors set out therein. Such documents are available at www.sedarplus.ca under the Company’s profile and on the Company’s website. The forward-looking information set forth herein reflects the Company’s expectations as at the date of this news release and is subject to change after such date.

This release may contain certain forward‐looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of the Company with respect to the same. By their nature, forward‐looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward‐looking statements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release may contain statements within the meaning of safe harbour provisions as defined under securities laws and regulations. We seek safe harbour.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275670

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Harmony Greenlights US$1.75 Billion Eva Copper Mine Bildout

Harmony Gold Mining (NYSE:HMY,JSE:HAR) announced that it has approved development of its Eva Copper project in Queensland after completing an updated feasibility study, with an estimated capital of US$1.75 billion across a three-year window.

The South African miner said Monday (November24) that its board signed off on the Final Investment Decision for the Eva copper project, a 100-percent-owned project in northwest Queensland expected to deliver high margins and a long operating life.

Harmony plans to build a low strip-ratio open-pit mine capable of producing about 65,000 metric tons of copper concentrate annually during its first five years, with an average life-of-mine profile of roughly 60,000 metric tons of copper and 19,000 ounces of gold per year over an estimated 15-year span.

The mine will process about 18 million metric tons of ore per year and carry an all-in sustaining cost of approximately US$2.50 per pound.

CEO Beyers Nel said the feasibility results confirm the company’s shift toward a balanced gold-and-copper portfolio.

“The Eva Copper Feasibility Study delivers a strong, high-confidence outcome that positions Harmony for the next phase of growth as we continue building a high-quality, low-cost portfolio,” he said.

Nel also tied Eva Copper to Harmony’s expanding strategy, pointing to the company’s recently completed MAC Copper acquisition.

“Eva Copper, together with our recent MAC Copper acquisition, creates a compelling platform that brings together the enduring value of gold with the future-facing strength of copper, enhancing cash flow resilience across commodity cycles,” he said.

Last month, Harmony completed its US$1.01 billion acquisition of MAC Copper, giving the company full ownership of the high-grade CSA copper mine in New South Wales.

The company said the purchase builds on its strategic push to strengthen its copper position in Tier-1 jurisdictions. It also expects its two major Australian copper assets to deliver a combined 100,000 metric tons of copper annually once fully commissioned.

Meanwhile, the Eva Copper project was acquired by the company in October 2022 and has since completed 166,000 metres of drilling. The current two-million-metric-ton copper resource underpins the potential for future extensions to the mine’s life.

Harmony anticipates first production in the second half of 2028, a timeline it says aligns with a structural deficit in copper supply that could support stronger prices.

Board approval moves the project into the execution phase. Mobilization to site is expected in the third quarter of fiscal 2026, subject to amendments to the project’s Environmental Authority.

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

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Barrick Regains Control of Mali Gold Mine

Barrick Mining (TSX:ABX,NYSE:B) has taken a major step toward ending its months-long standoff with Mali, confirming a deal that will restore its control over one of Africa’s most productive gold operations.

After reports that the two sides had reached an agreement in principle circulated last week, Barrick confirmed on Monday (November 24), it will withdraw its arbitration claim at the World Bank’s dispute-resolution center.

Mali’s government has committed to dropping all charges, releasing detained employees and returning full operational authority for the Loulo-Gounkoto complex.

Tensions spiked in January when Mali’s military government halted gold exports, detained senior Barrick personnel and seized several tonnes of gold from the site.

A local court later appointed former health minister Soumana Makadji to run the operation under state oversight, effectively pushing Barrick out of a mine it has long managed through a joint venture.

The agreement marks a significant reversal of that intervention and paves the way for Loulo-Gounkoto to return to normal operations.

Production only resumed in late October after a separate deal to restart payments to local contractors, though at that time Barrick did not comment publicly on the arrangement.

Monday’s settlement with the government now sets the stage for a full restoration of the joint venture.

The breakthrough also comes as the company faces intensifying pressure on multiple fronts, as activist investor Elliott Investment Management has recently acquired a major stake worth at least US$700 million in the company.

Elliott is known for forcing corporate overhauls in the mining sector, and its arrival has sharpened scrutiny of Barrick’s performance after a year marked by falling production and rising costs.

The company has lagged peers despite record-high gold prices, with analysts citing the setbacks in Mali, ongoing concerns around the massive Reko Diq project in Pakistan, and turbulence in the executive ranks.

That turbulence erupted publicly in September with the abrupt exit of longtime chief executive Mark Bristow, whose relationship with Barrick chair John Thornton had reportedly deteriorated after years of missed guidance and strategic disagreements.

Sources told the Financial Times the two had barely been speaking by the time headhunters were commissioned to evaluate successors.

Interim chief executive Mark Hill has been trying to stabilize the company with a sweeping reorganization. In an internal memo reviewed by Bloomberg, he said Barrick would fold the Pueblo Viejo mine into its North American division and merge its Latin America and Asia Pacific operations.

He also announced leadership changes to sharpen the focus on Barrick’s Nevada mines, one of the company’s most valuable assets but also the site of serious safety lapses this year.

The restructuring has revived speculation about whether Barrick could eventually split its portfolio into separate companies or become a takeover target.

Currently, the company trades at a lower valuation multiple than rivals, making its assets particularly attractive if separated into a North America-focused unit and other housing operations in Africa, Latin America and the Asia Pacific region.

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

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Canada’s Big Open Banking Move: Unlocking Consumer Control and Financial Innovation

In its 2025 federal budget, the Canadian government lays out a bold blueprint to foster competition, innovation and inclusion in the financial sector by accelerating open banking adoption.

With the Big Six banks holding 93 percent of banking assets, this consumer-driven reform aims to dismantle longstanding barriers, giving Canadians and small businesses greater control over their financial data and choices.

The promise of open banking in Canada

Open banking, also known as consumer-driven banking, enables secure, reliable and affordable sharing of financial data between banks and third-party service providers. The goal of this framework is to empower consumers by bringing them more customized and transparent financial products and services.

The Canadian government’s recent announcements, including legislative proposals and an oversight shift from the Financial Consumer Agency of Canada (FCAC) to the Bank of Canada (BoC), signal a serious commitment to delivering a competitive and consumer-centric financial ecosystem. Boms explained that, if implemented correctly, open banking could drive innovation and inclusion across Canada’s financial sector.

“It means a more holistic picture of your total financial life, including your investment portfolios,” he commented. “It’s also something that every other G7 country has and has had for quite some time, and so it provides the basis for a more competitive, more innovative and more efficient financial system.”

One shift in the proposed framework that Boms said is vital is the BoC taking control of regulatory oversight.

‘The FCAC, where (oversight) lived originally, really didn’t have any experience in creating a regulatory framework for non-banks,’ he said. In contrast, the BoC has direct experience in licensing for non-banks serving consumers. It oversees fintech firms such as Wealthsimple, Koho, Brim Financial and Venn under the Retail Payments Activities Act.

Smaller financial institutions, including credit unions, will stand to benefit significantly from this change, leveling the playing field with the Big Six banks, which, as mentioned, currently dominate banking assets.

However, Boms emphasized the importance of a risk- and size-based regulatory approach to ensure these smaller players can innovate without undue burdens: “You have to recognize that fundamentally smaller financial institutions, smaller fintechs, don’t have the same resources as bigger incumbents.”

Canadian budget measures supporting competition

This year’s Canadian federal budget introduces several important measures to enhance competition and give consumers more choice beyond the dominant bank oligopoly. One of the flagship promises is to ban transfer fees for investment and registered accounts, fees that currently cost Canadians around C$150 per account.

Draft regulations are expected by spring 2026 to enforce this ban, reducing friction and costs for consumers. Additionally, the budget includes initiatives to simplify switching primary chequing accounts between financial institutions, further lowering barriers for Canadians to move their banking relationships.

The budget also targets cross-border transfer fees by improving transparency, including fees related to foreign exchange margins, so consumers can better understand the costs of sending money internationally.

Accessibility to cheque funds will be improved by raising the dollar threshold and shortening hold periods on cheque deposits, benefiting Canadians who rely on cheques.

To support smaller lenders and foster broader financial inclusion, legislative amendments will make it easier for federal credit unions to scale and for provincial credit unions to enter the federal regulatory regime.

“If (smaller financial institutions) can get access to consumer data digitally, they can then become much more competitive without having to build the same type of infrastructure the biggest banks can afford to build,” said Boms.

A voluntary code of conduct is planned to improve smaller financial institutions’ access to brokered deposit channels, a vital funding source for growth. Furthermore, changes to the Bank Act and Canada Deposit Insurance Corporation Act will raise public holding requirement thresholds for smaller institutions.

That will allow them more flexibility to grow before triggering changes in ownership structure.

While Canada is still rolling out its open banking framework, countries like the UK and Australia demonstrate how open banking adoption fuels economic resilience and consumer benefits.

“Canada has learned from the experiences of (other) jurisdictions, good and bad, and taken those learnings and implemented (them) into what we see here,’ said Boms.

The future of open banking in Canada

With a 2026 target for full read access, market participants are gearing up for a transformative shift in how financial data is handled. This initiative marks a pivotal move toward democratizing financial data and services in Canada.

The BoC’s expanded oversight role, coinciding with the launch of the real-time rail payment infrastructure and phased “write access” capabilities by mid-2027, will accelerate the system’s rollout.

This evolving infrastructure will facilitate instant payments and empower consumers with the ability to initiate actions like bill payments and account switching seamlessly.

Boms and FDATA Canada stand ready to guide this transformation, ensuring that open banking in Canada not only enhances competition, but also maintains safety, security and consumer protection.

Open banking’s architecture also presents fresh opportunities for digital currencies, with new legislation introduced requiring stablecoin issuers to maintain adequate high-quality reserves, clear redemption policies and robust risk management and security standards. Stablecoins could complement open banking by enabling faster, cheaper cross-border payments and settlements, especially for consumers and small businesses.

As open banking takes shape, Canadians and small businesses will gain unprecedented control over their financial lives, a change poised to ignite innovation, unlock economic potential and reshape the country’s banking landscape.

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

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BTU Announces Closing of Over Subscribed Flow Through Financing

BTU METALS CORP. (‘BTU’ or the ‘Company’) (TSXV:BTU)(OTCQB:BTUMF) announces that, further to the news release of November 11, 2025, the Company has closed the previously announced, over-subscribed non-brokered private placement of flow-through common shares by the issuance of 17,700,000 flow-through shares at a price of $0.05 per FT Share (the ‘FT Offering’), for gross proceeds of $885,000.

Each flow-through unit shall be comprised of one common share of the company issued on a flow-through basis and one-half of one common share purchase warrant to be issued on a non-flow-through basis. Each whole warrant shall entitle the holder thereof to acquire one common share of BTU at a price of $0.09 for a period of 12 months following the closing of the offering. The flow-through shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec).

In connection with the oversubscribed offering, the company paid finders’ fees to eligible finders consisting of $58,450 in cash and 1,106,000 non-transferable common share purchase warrants. Each finder warrant is exercisable to acquire one common share in the capital of the company at an exercise price of $0.05 per common share for a period of 12 months from the date of issuance. Closing of the offering is subject to approval of the TSX Venture Exchange. The securities issued under the offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.

‘The overwhelming response for this financing demonstrates strong market support for BTU’s portfolio of Ontario-based exploration projects in both the prolific Red Lake and Wawa mining districts,’ stated Paul Wood, CEO. We look forward to advancing all of our projects immediately and into 2026.’

About BTU
BTU Metals Corp. is a junior mining exploration company. BTU’s primary assets are the Dixie Halo Project located in Red Lake, Ontario (optioned to Kinross) immediately adjacent to the Kinross Great Bear Project, the Dixie East project and its gold and critical minerals properties in the active Wawa gold district. The Company continues to look to acquire high quality exploration projects to add to its portfolio for the benefit of its stakeholders. The Company has no debt and minimal property obligations.

ON BEHALF OF THE BOARD

‘Paul Wood‘

Paul Wood, CEO, Director
pwood@btumetals.com
BTU Metals Corp.
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770

Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements
This news release contains certain ‘forward-looking information’ within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company is forward-looking information. Other forward-looking information includes but is not limited to information concerning: the intentions, plans and future actions of the Company.

Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.

This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: risks relating to the global economic climate; dilution; future capital needs and uncertainty of additional financing; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. The Company has also assumed that no significant events occur outside of the normal course of business. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.


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Politics

Obama wanted shutdown pain to be felt by Americans, while Trump kept focus on Washington, experts argue

President Donald Trump and former President Barack Obama are polar opposites in many ways, but, as with anyone who has sat behind the Resolute Desk, they do share some similarities.

One thing both have in common is overseeing government shutdowns — one under Obama and two under Trump. And even in that sparse similarity, both men operated differently, particularly in the most recent, 43-day closure.

While both congressional battles were centered on Obamacare, Obama put his shutdown at the center of attention, while Trump kept it at more of an arm’s length.

Romina Boccia, director of budget and entitlement policy at the Cato Institute, told Fox News Digital that a major difference in the Obama and Trump administrations’ approaches to their respective shutdowns was that in 2013, Obama wanted the pain of shutdown to be felt by Americans, while Trump kept the focus centered on Washington, D.C.

‘During the Obama shutdown, it was more to make it extremely visible, shut down beloved functions — even if you didn’t have to — that affect average Americans,’ she said.

Boccia at the time worked for the conservative think-tank the Heritage Foundation and recalled the barricades that were swiftly erected around Washington, D.C.’s many national parks.

Those barricades, both concrete and human, spilled out beyond the nation’s capital and were placed around the hundreds of national parks across America as a stark reminder that the government was closed.

Boccia noted that a direct comparison of the two shutdowns would be difficult given the differing lengths, but that the Trump administration, at least early on, sought to inflict direct pain on congressional Democrats and the federal government.

That was carried out largely by the Office of Management and Budget Director Russ Vought, who ordered mass firings of furloughed workers and withheld or canceled billions in federal funding to blue cities and states.

‘It’s not that this wasn’t a shutdown, it’s just that the choices the administration made were an attempt to focus the impacts of the shutdown this round on the government itself,’ Brittany Madni, executive vice president of the Economic Policy Innovation Center, told Fox News Digital.

‘This was showmanship from President Obama,’ Madni continued. ‘And if you look at what happened over the last 40 something days, it was the exact same playbook by congressional Democrats.’

Madni argued that discussions and debate during the 2013 shutdown were centered largely in Washington, D.C. The latest closure saw some of that, but it also saw Trump continuing to work on trade deals, particularly during his high-profile visit to Asia, which was a point of contention for Democrats on the Hill.

‘He was doing his job,’ Madni said. ‘He was doing his job. Meanwhile, congressional Democrats, quite simply, were not.’

Still, there was a shared thread in both shutdowns: Obamacare.

In 2013, congressional Republicans wanted to dismantle Obama’s signature piece of legislation. Fast-forward, Senate Minority Leader Chuck Schumer, D-N.Y., led his caucus to push extensions to enhanced Obamacare subsidies.

Boccia said that played a large part in why Obama was at the vanguard during his shutdown.

‘He was front and center in the media talking about the shutdown, and because it was over his legacy achievement,’ she said.

It was because his key legislative achievement was under fire that Obama took such a central role in the shutdown, Boccia argued, but for Trump, who tried during his first administration to gut and replace Obamacare, it wasn’t a priority.

‘The fact that it was over the Obamacare COVID credits, I think, made the president less necessary and perhaps interested in being the face of the shutdown,’ she said. ‘It was really a congressional battle.’

Madni disagreed that the latest shutdown wasn’t a direct bid by congressional Democrats to go after one of his legislative achievements.

Before the climactic failed vote in the Senate in late September that ushered in the longest shutdown in history, Democrats offered a counter-proposal that would have stripped several provisions from Trump’s ‘big, beautiful bill,’ which has so far been the crowning legislative achievement of his second term.

‘It’s really important that everyone remembers the subsidy request was one request in a laundry list of radical, incredibly expensive ideas that added up to $1.5 trillion,’ Madni said. ‘Another item in that list was dismantling key portions of the One Big Beautiful Bill Act.’

‘If this was really about the subsidies, then the Democrats would have been willing at any point during the last 43 days to adjust their asks and just make it about subsidies,’ she continued. ‘Not once did they.’

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