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The U.S. Court of Appeals for the D.C. Circuit on Monday blocked President Donald Trump from immediately firing Lisa Cook from her role on the Federal Reserve Board of Governors, the latest in a high-stakes court fight that is almost certain to be quickly appealed to the Supreme Court.

The 2-1 ruling from Judges Gregory Katsas, Michelle Childs, and Brad Garcia keeps in place a lower court order handed down last week by U.S. District Judge Jia Cobb, which reinstated her to her role on the Fed’s Board of Governors.

Judge Cobb said in the preliminary injunction last week that Trump’s attempt to fire Cook likely violated the Federal Reserve Act and Cook’s due process protections. That decision prompted the Trump administration to appeal the case to the higher court for emergency relief.

‘When Governors by misconduct or gross neglect erode the foundations of such confidence, the President acts properly and lawfully by removing them,’ Justice Department attorneys said in appealing the case to the U.S. Court of Appeals for D.C.

The 2-1 ruling from the appeals court is a near-term blow to the Trump administration. It comes after Trump announced on social media last month that he would be firing Cook from her position on the independent Fed board due to allegations of mortgage fraud.

Cook’s lawyers immediately sued Trump over his attempt to remove her far before the end of her 14-year tenure, arguing that he did not have sufficient cause to do so. Cook has denied any wrongdoing.

The landmark case is the first attempt by a sitting president to oust a Federal Reserve governor ‘for cause,’ and it is almost certain to be kicked to the Supreme Court for review. 

This is a breaking news story. Check back for updates.

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An FBI evidence specialist testified Monday that Ryan Routh’s black Nissan Xterra was cluttered with clothing, tools and handwritten notes — and appeared as though someone had been living in it — when she searched it the day after his arrest.

FBI Special Agent Cindy Barrois, an Evidence Response Team leader in the Miami Field Office, said the Xterra’s back seats were folded down with what looked like a mattress.

‘It appeared the vehicle was lived in,’ she said. 

In court Monday, she displayed six cellphones collected from the SUV, Routh’s expired Hawaii driver’s license, a valid U.S. passport and handwritten notes — including a list with ‘pipe,’ ‘C-clamp,’ ‘blanket,’ ‘pillow,’ ‘tape,’ ‘paint,’ ‘green poncho’ and phone numbers. 

Another note listed flight options to Mexico and Colombia under the name ‘Bryan Wilson.’ A separate Bank of Hawaii paper read, ‘Make tourniquet.’

Routh is on trial representing himself for federal charges filed against him for allegedly attempting to assassinate President Donald Trump exactly one year ago on Sept. 15, 2024. 

Barrois testified in court Monday the vehicle was ‘not organized,’ and included food, tools, gloves, a disposable tablecloth and a .45-caliber cartridge casing in the glove box. Photos shown to jurors included the passport in the driver’s area, multiple phones and where they were found, and a close-up of the .45 casing. 

She also pointed to alleged stickers on the Xterra that appeared to have been blacked out with spray paint, showing drip marks. Items presented in court from the SUV included a red Harbor Freight flashlight, an Akaso camera battery, a black metal rod like those used in chain-link fences, multiple pairs of work gloves, a black mask, poncho and zip tie in a Ziploc and a large quantity of orange earplugs.

Prosecutors also walked jurors through receipts they say place Routh in Palm Beach County, Florida, for weeks: cash overnight-parking slips from a Marathon gas station in South Bay, Florida, dated Aug. 14 (eight nights), Aug. 21 (six nights), Aug. 29 (six nights), Sept. 5 (six nights) and Sept. 12 (four nights), plus local receipts from Dollar Tree, Family Dollar and McDonald’s. 

Jurors also saw two unopened cans of Vienna sausages and a 56-ounce SunnyD bottle allegedly found in the car, along with a SunnyD receipt. Barrois said North Carolina and Ohio license plates were recovered under the driver’s seat; a North Carolina registration in the glove box listed Routh’s daughter, Sara Ellen Routh.

Routh, representing himself, asked whether some items ‘could have been in there for years’ and why one photo showed the .45-caliber casing in the glove box and another did not. For the first time in the trial, the prosecution came up after Routh’s cross-examination to ‘re-direct’ the witness with further questioning.

Routh also said there were dress clothes in the SUV and referenced a note that read, ‘If you need this car moved text,’ listing numbers for ‘Sarah’ and ‘Oran.’

Later, FBI Evidence Analysis Request Coordinator Erin Farais testified about items removed from the SKS rifle. She said a fingerprint was found on tape from the gun but did not identify whose it was.  

When Routh asked whether removing tape affected scope accuracy testing, Judge Aileen Cannon told jurors, ‘This case isn’t about how accurate the gun shoots.’

Court staff told media that trial exhibits will be made public only after the proceedings conclude. 

Routh also told the judge he hadn’t decided whether to call his son, Oran, to the witness stand. Judge Cannon noted ‘a lot of work’ had gone into arranging his transport. 

Prosecutors said additional FBI forensic witnesses — including a firearms/toolmark examiner — were slated to follow.

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Former Sen. Joe Manchin, I-W.Va., wanted Republicans to win the Senate last year in order to prevent Democrats’ pursuit of ‘raw political power.’

In his new book, ‘Dead Center: In Defense of Common Sense,’ set to be released on Tuesday and obtained by Fox News Digital, the former West Virginia Democrat-turned-Independent ripped into his ex-political party, tore into former Presidents Barack Obama and Joe Biden and blasted Senate Minority Leader Chuck Schumer, D-N.Y., while lauding the relationship that he had with President Donald Trump.

Manchin made waves when he and former Sen. Kyrsten Sinema of Arizona, who also left the Democratic Party to become an Independent, bucked Schumer and voted against the move to nuke the Senate filibuster in 2022.

He recalled that vote in his book and the pressure he felt from Schumer and Senate Democrats to fall in line on that and other key votes during Biden’s presidency.

Manchin accused Schumer of wanting a vote he ‘could broadcast to the radical left to prove his loyalty’ and said the then-Senate majority leader didn’t actually believe that getting rid of the filibuster was the right thing to do, but rather to fulfill his ‘only priority’ of maintaining control of the Senate.

‘Because of what I knew — and what I had seen firsthand — I wanted Republicans to win the Senate majority in 2024,’ Manchin wrote. ‘I believed it was the only hope for preserving the Senate as an institution. I truly believed that, if in power, Republicans would uphold the filibuster, the last guardrail preventing total partisan rule.’

‘Schumer and the Democrats had already shown their hand — eliminating the filibuster would have been their first order of business,’ he continued. ‘They had no interest in protecting the Senate’s role as the deliberative body. They only cared about raw political power.’

The quest to end the filibuster is also why Manchin wouldn’t endorse former Vice President Kamala Harris in her run against Trump.

‘She knew this was the Holy Grail and the only hope we have to preserve any bipartisanship and maintain our democracy,’ Manchin said.

He also outlined an early fight he had with Biden where, when Democrats were trying to ram through the $1.9 trillion American Rescue Plan in the early months of his presidency in an evenly-divided Senate, Manchin rejected it.

Biden ripped into Manchin for standing in the way of an early victory.

‘As the drama began, I got a call from the president, and was he hot,’ Manchin wrote. ”If you kill this f— bill, I will never speak to you again,’ he promised. Anyone who knows Joe Biden —­ and I have known him for a very long time —­knows he’s got a very bad temper. He calls it his ‘Irish.’ I call it unfortunate. But if he was going there, so was I.’

”Your actions are reckless,’ I spat back. ‘You’re sending a f—­ check to everyone. And if you missed anyone, it was only by mistake.’’

The legislation ultimately passed after a compromise was reached, but Manchin noted that he later regretted ‘capitulating on the American Rescue Plan.’

He also described having a far better relationship with Trump, who he considered a fellow ‘outsider,’ than Obama, and noted that Obama reached out to him twice during his entire presidency: once after he won re-election to the Senate in 2012 and again in 2015 to persuade him from voting against his nuclear deal with Iran.

‘From the start, President Trump had an open line of communication with me. I spoke to him more in the first two years of his presidency than I did to President Obama during all eight years of his time in office,’ Manchin said.

Fox News Digital reached out to the offices of Schumer, Obama and Biden for comment but did not immediately hear back. 

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The Pentagon is not backing down from its quest for consequences for those who celebrate Charlie Kirk’s killing, even as Democrats warn the move is ‘un-American’ and violates free speech protections.

The controversy underscores a clash between military discipline and First Amendment rights, with top Pentagon officials arguing that celebrating the killing of an American political figure is unacceptable conduct for service members — while Democrats counter that the crackdown risks punishing constitutionally protected speech.

‘Hunting down and prosecuting service members for their individual political beliefs is dangerous and un-American,’ Rep. Jason Crow, D-Colo., a former Army Ranger, wrote on X.

‘We must condemn political violence AND allow peaceful speech that doesn’t impact the chain of command.’

War Secretary Pete Hegseth and his team see it differently.

‘We will not tolerate military or civilian personnel who celebrate or mock the assassination of a fellow American,’ Sean Parnell, chief Pentagon spokesperson, told Fox News Digital in a statement.

‘Every service member and civilian at the Department takes an oath to defend the Constitution against all enemies, foreign and domestic. Those in our ranks who rejoice at an act of domestic terrorism are unfit to serve the American people at the Department of War.’

Already, Army Col. Scott Stephens was suspended following posts purportedly belonging to him that praised the killing. 

‘The death of Charlie Kirk in Utah was tragic. However, we can take comfort in the fact that Charlie was doing what he loved best — spreading hate, racism, homophobia, misogyny, and transphobia on college campuses,’ one post read.

Another Army Reserves officer was suspended over the weekend.

‘A monster died today,’ one post allegedly belonging to Maj. Bryan Bintliff, who went by ‘Bryan Harlow’ on social media, read. ‘It’s sad Charlie’s kids are traumatized for life, but it’s not a sad thing that he’s dead.’

Kirk was shot and killed on Wednesday in Orem, Utah, while speaking to college students at Utah Valley University.

The Pentagon isn’t the only one rooting out those with distasteful commentary on the killing: the State Department has announced it would be scanning social posts to revoke visas of foreign nationals who do the same.

‘We shouldn’t be bringing people into this country. We should not be giving visas to people who are going to come to the United States and do things like celebrate the murder, the execution, the assassination of a political figure, we should not and if they’re already here, we should be revoking their visa,’ a senior State Department official told Fox News in an exclusive interview.

‘Why would we want to bring people into our country? They’re going to engage in negative and destructive behavior? It makes no sense.’

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Secretary of State Marco Rubio early Tuesday said that the U.S. and Qatar were on the verge of finalizing a defense cooperation agreement as he framed the Middle Eastern ally as the ‘only country in the world’ positioned to mediate between Israel and Hamas. 

The secretary’s comments came as he was leaving Jerusalem, where he had met with Israeli Prime Minister Benjamin Netanyahu. The meeting took place against the backdrop of Israel’s airstrikes on Hamas leaders in Qatar last week, as well as its intensifying bombardment of Gaza City. 

Rubio, who is now heading to Qatar for a quick visit, acknowledged Doha’s anger over the Israeli airstrikes, telling Fox News during an exclusive interview in Jerusalem: ‘We understand they’re not happy about what happened.’ 

Speaking to reporters, Rubio reaffirmed the U.S. commitment to Qatar as an ally, saying Doha can play a ‘key role’ in ensuring the terrorist group Hamas is ‘disarmed as a threat.’ 

‘We think Qatar can play a very key role in that. So, we’re going there. We have a close partnership with the Qataris,’ Rubio said before adding, ‘In fact, we have an enhanced defense cooperation agreement, which we’ve been working on and we’re on the verge of finalizing.’ 

Rubio said that if any country in the world could mediate an agreement between Israel and Hamas, ‘Qatar is the one.’ 

‘They’re the ones that can do it. Now, I don’t know if they can after what happened, but I think they could. If anyone can, they can. There’s no other country in the world that can play that role. And we hope they can,’ Rubio said. 

The secretary warned that the window for diplomacy with Hamas was narrowing, saying, ‘We don’t have months anymore … We probably have days, maybe a few weeks.’ 

‘So, it’s a key moment – an important moment,’ Rubio said. ‘And again, our preference, our number one choice, is that this ends through a negotiated summit where Hamas says, ‘We’re going to demilitarize. We’re no longer going to pose this threat. We’re going to disband. We’re going to release every single hostage.’’ 

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US-China tensions are causing a shift in global gold market dynamics.

Escalating trade tensions with the US have prompted China to take a defensive stance economically. This has become a major gold price driver in 2025 and that trend is expected to continue in the years ahead.

The widening gap between the two nations, which is based on a series of issues, from Taiwan independence and dominion in the South China Sea to currency manipulation and trade deficits, is creating the types of headlines that drive investors, institutions and central banks to move more of their wealth into gold.

“The longer the tension and trade discussions continue, the more risk and uncertainty play into asset performance. Gold benefits significantly in this type of environment,’ the expert added.

China’s response to this heightened geopolitical and economic competition with the US has not been one of direct confrontation; rather, the Asian nation’s leadership has taken its usual profoundly pragmatic and strategic approach.

As it so happens, gold is playing a key role. China has already established itself as the world’s largest producer and consumer of gold, and is now looking to exert more control over the price.

1. PBOC shifting from US treasuries to gold

The People’s Bank of China (PBOC) has continued to increase its gold reserves for the third consecutive year in 2025, although its acquisitions are coming at a slower pace in recent months.

The World Gold Council reported in July that China’s official gold holdings have posted gains for eight consecutive months, with H1 2025 gold purchases coming in at 19 metric tons. Second only to the National Bank of Poland as one of the largest central bank buyers, China’s gold purchases have no doubt contributed to gold’s price.

The PBOC’s focus on increasing its gold reserves is not surprising given the current fiscal landscape.

“China is a large, growing economy and has a meaningful reserve portfolio that is actively managed as part of central programs and planning. The PBOC is principally responsible for managing that portfolio, which has traditionally held large portions in USD and USD-based assets (treasuries),” explained Cavatoni.

“What the increased level of disclosed and undisclosed purchases you see in our data indicates is that the PBOC is looking at domestic and foreign market conditions for managing their reserves in an optimal way. That includes recognition of the role gold can play in a portfolio and finding that role a key focus for growth.”

Charles-Henry Monchau, chief investment officer at Syz Group, believes the PBoC’s bullion purchases are a part of a larger strategy moving away from the nearly century-long hegemony of the US dollar over global trade and finance.

“In its place, China is betting on a dual foundation: gold and the yuan,” Monchau asserted recently, also insisting that China’s reduction of its dependence on the greenback is “not merely a matter of a portfolio rebalance.”

In this way, China would gain a more dominant position in global finance and no longer be at the mercy of US sanctions and other financial pressures. Monchau also lends credence to the claim of some analysts that the PBOC is underreporting its gold purchases to the International Monetary Fund.

‘This opacity is deliberate—by quietly shifting reserves from dollars into gold, China avoids alarming markets while progressively building leverage,” he said.

2. China’s insurance sector buying gold

China’s insurance sector represents an emerging demand segment for physical gold, further demonstrating the yellow metal’s function as a hedge against inflation and economic downturns.

In early February of this year, the Chinese government launched a pilot program allowing the nation’s 10 largest insurance companies to invest directly into gold.

Under the initiative, insurers can choose to allocate up to 1 percent of their assets to gold. This could open the door for up to 200 billion yuan, or more than US$27 billion, to enter the global gold market, as reported by Bloomberg.

China’s insurance sector is the second largest in the world behind the US, and if the pilot program is successful, it could serve as a precedent for other countries to allow similar programs to develop in their own insurance industries.

“This is an exciting development as it demonstrates both government and institutional understanding of gold, and provides an appropriate format for these institutions to build up the appropriate infrastructure and capabilities to add gold to diversified portfolios,” said Cavatoni, emphasizing the significance of the move.

“This will be an additional use case to consume gold and good for the global market. This practice is also capable of being rolled out in pilot programs elsewhere and may (in certain places) already exist.”

The Shanghai AU9999 contract is a physical gold trading contract that closely tracks the spot price of gold.

“It signals, for us, global use cases continuing to come online. And I think that’s actually the big story for gold, which is continuing to see people wanting access to it, industries having a need for it and impediments being removed.”

3. Shanghai Gold Exchange expansion

China is now making it easier for international investors to participate in the Shanghai Gold Exchange.

In late June, the exchange launched two new yuan-denominated gold contracts for physical delivery in Hong Kong, where it opened an offshore gold warehouse in Hong Kong run by the Bank of China.

It also waived storage, handling and exit fees for the calendar year for foreign buyers. Analysts see this as a major move toward strengthening China’s position in the global gold market.

Mario Innecco, who runs the maneco64 YouTube channel, sees the expansion of the Shanghai Gold Exchange as “highly significant” in moving the center of the gold market to China.

“This is an interesting development and one that is broadening an already open channel for approved foreign entities,” said the World Gold Council’s Cavatoni in an email. “If the expansion continues beyond what we have today, including the most recent announcement around vaulting overseas, the foreign community might become more active in what is currently a smaller portion of the domestic China gold market.”

There is also potential for strengthening the global position of renminbi.

“The new vault will significantly boost offshore RMB liquidity by enabling gold transactions in yuan rather than dollars,” said Doris Bao, founderof Gold Harvest Consulting and an advisor to the London Bullion Market Association (LBMA). “This also means China can now import gold using its own currency.”

Innecco also believes a stronger Shanghai Gold Exchange internationally could prove highly disruptive to the western gold futures market represented by the COMEX and the LBMA.

‘I think gold and silver will be priced from China in the next few years,” he added.

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

This post appeared first on investingnews.com

Alvopetro Energy Ltd. (TSXV: ALV,OTC:ALVOF) (OTCQX: ALVOF) announces that our Board of Directors has declared a quarterly dividend of US$0.10 per common share, payable in cash on October 15, 2025 to shareholders of record at the close of business on September 30, 2025 . This dividend is designated as an ‘eligible dividend’ for Canadian income tax purposes.

Dividend payments to non-residents of Canada will be subject to withholding taxes at the Canadian statutory rate of 25%.  Shareholders may be entitled to a reduced withholding tax rate under a tax treaty between their country of residence and Canada.  For further information, see Alvopetro’s website at https://alvopetro.com/Dividends-Non-resident-Shareholders .

Corporate Presentation

Alvopetro’s updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation .

Social Media

Follow Alvopetro on our social media channels at the following links:

X – https://x.com/AlvopetroEnergy
Instagram – https://www.instagram.com/alvopetro/
LinkedIn – https://www.linkedin.com/company/alvopetro-energy-ltd

Alvopetro Energy Ltd. is deploying a balanced capital allocation model where we seek to reinvest roughly half our cash flows into organic growth opportunities and return the other half to stakeholders. Alvopetro’s organic growth strategy is to focus on the best combinations of geologic prospectivity and fiscal regime. Alvopetro is balancing capital investment opportunities in Canada and Brazil where we are building off the strength of our Caburé and Murucututu natural gas fields and the related strategic midstream infrastructure.

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

All amounts contained in this new release are in United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.

Forward-Looking Statements and Cautionary Language

This news release contains forward-looking information within the meaning of applicable securities laws. The use of any of the words ‘will’, ‘expect’, ‘intend’, ‘plan’, ‘may’, ‘believe’, ‘estimate’, ‘forecast’, ‘anticipate’, ‘should’ and other similar words or expressions are intended to identify forward-looking information. Forward‐looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events. Accordingly, when relying on forward-looking statements to make decisions, Alvopetro cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. More particularly and without limitation, this news release contains forward-looking information concerning the Company’s dividends, plans for dividends in the future, the timing and amount of such dividends and the expected tax treatment thereof. Forward-looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to the success of future drilling, completion, testing, recompletion and development activities and the timing of such activities, the performance of producing wells and reservoirs, well development and operating performance, expectations and assumptions concerning the timing of regulatory licenses and approvals, equipment availability, environmental regulation, including regulations relating to hydraulic fracturing and stimulation, the ability to monetize hydrocarbons discovered, the outlook for commodity markets and ability to access capital markets, foreign exchange rates, the outcome of any disputes, the outcome of  redeterminations, general economic and business conditions, forecasted demand for oil and natural gas, the impact of global pandemics, weather and access to drilling locations, the availability and cost of labour and services, and the regulatory and legal environment and other risks associated with oil and gas operations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Current and forecasted natural gas nominations are subject to change on a daily basis and such changes may be material. In addition, the declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. Although we believe that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because we can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, reliance on industry partners, availability of equipment and personnel, uncertainty surrounding timing for drilling and completion activities resulting from weather and other factors, changes in applicable regulatory regimes and health, safety and environmental risks), commodity price and foreign exchange rate fluctuations, market uncertainty associated with trade or tariff disputes, and general economic conditions. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Although Alvopetro believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Alvopetro can give no assurance that it will prove to be correct. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on factors that could affect the operations or financial results of Alvopetro are included in our AIF which may be accessed on Alvopetro’s SEDAR+ profile at www.sedarplus.ca . The forward-looking information contained in this news release is made as of the date hereof and Alvopetro undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE Alvopetro Energy Ltd.

View original content: http://www.newswire.ca/en/releases/archive/September2025/15/c3517.html

News Provided by Canada Newswire via QuoteMedia

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The gold sector is undergoing another wave of portfolio reshuffling.

Fresh deals across the sector signal a growing shift toward consolidation and selective asset sales as stakeholders seek further growth during the yellow metal’s historic price run.

Newmont to sell Coffee Project in Yukon

Newmont (TSX:NGT,NYSE:NEM,ASX:NEM), the world’s largest gold producer, announced that it has reached an agreement to sell its Coffee project to Vancouver-based explorer Fuerte Metals (TSXV:FMT,OTCQB:FUEMF).

Under the terms of the deal, Newmont will receive US$10 million in cash at closing and US$40 million in Fuerte shares; it will also retain a 3 percent net smelter return royalty. Fuerte has the option to repurchase the royalty for up to $100 million, potentially bringing total consideration for the transaction to US$150 million.

For Fuerte, the acquisition marks a step in its strategy to build a copper and precious metals portfolio across the Americas. The company is backed by Pierre Lassonde, Newmont’s former president, and Trinity Capital Partners.

Yukon-based Coffee has long been considered prospective, but has faced permitting and financing hurdles.

Upon completion of the deal, Newmont will have fully implemented its plan of divesting six operations and two projects deemed non-core following its US$15 billion takeover of Newcrest Mining in 2023.

The divestment comes just days after Newmont said it will delist from the Toronto Stock Exchange at the close of trading on September 24. The company cited low trading volumes on the TSX, noting that the move will cut costs and simplify administration as it focuses on its largest and most profitable mines.

Shares will continue to trade on the New York Stock Exchange, where Newmont maintains its primary listing, as well as on the Australian Securities Exchange and the Papua New Guinea Stock Exchange.

Alamos to exit Turkey with US$470 million asset sale

Alamos Gold (TSX:AGI,NYSE:AGI) is shedding problematic overseas ventures to redirect capital closer to home.

The company recently announced a definitive agreement to sell Doğu Biga Madencilik Sanayi ve Ticaret, its wholly owned Turkish subsidiary, to Tümad Madencilik, a unit of Nurol Holding, for US$470 million in cash.

The subsidiary controls three gold and silver projects in Northwestern Turkey: Kirazlı, Ağı Dağı and Çamyurt. Kirazlı has been frozen since 2019 after Ankara declined to renew its mining license, sparking a US$1 billion arbitration claim by Alamos under the Netherlands-Turkey bilateral investment treaty.

Under the agreement, Alamos will receive US$160 million at closing, expected in the fourth quarter of 2025, followed by US$160 million one year later and US$150 million after two years. Arbitration proceedings against Turkey will be suspended and ultimately discontinued once contractual milestones are met.

“This transaction marks a positive outcome, allowing us to crystallize significant value for our Turkish assets, and utilize the proceeds to support the development of our portfolio of other high-return growth projects,” said Alamos President and CEO John A. McCluskey in a Sunday (September 14) press release. Those projects include the Island Gold Phase 3+ expansion in Ontario, the Lynn Lake project in Manitoba and Puerto Del Aire in Mexico.

For Tümad, the purchase consolidates its position as a leading domestic miner. The company already operates two producing gold and silver mines in Turkey and will now add a trio of advanced development assets to its pipeline.

First Nordic, Mawson to merge and form NordCo Gold

First Nordic Metals (TSXV:FNM,OTCQX:FNMCF) announced it will acquire Mawson Finland (TSXV:MFL,OTC Pink:MFLDF) in an all-share transaction that will create a new company called NordCo Gold.

The combined entity will control over 123,000 hectares of exploration ground across Sweden and Finland, anchored by First Nordic’s Barsele joint venture with Agnico Eagle Mines (TSX:AEM,NYSE:AEM) and Mawson’s Rajapalot gold-cobalt project. In total, NordCo will hold an inferred resource of 2.1 million gold equivalent ounces, along with 0.3 million gold equivalent ounces in measured and indicated attributable resources.

Taj Singh, CEO of First Nordic, described the deal as “about scale, quality and execution,” adding that the company sees “multiple meaningful deposits to be discovered and delineated over the coming years.”

NordCo will have a pro forma market capitalization of about C$259 million and a cash balance of roughly C$50 million following a C$30 million concurrent financing.

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

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John Feneck, portfolio manager and consultant at Feneck Consulting, shares his outlook for gold and silver prices in 2025. His next target for gold is US$3,800 per ounce, and he still expects US$50 per ounce silver by the end of the year.

He also discusses the potential he sees in junior miners.

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

This post appeared first on investingnews.com