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Perth, Australia (ABN Newswire) – Basin Energy Limited (ASX:BSN) (OTCMKTS:BSNEF) is pleased to invite shareholders and investors to an investor webinar where Managing Director, Pete Moorhouse will provide a Company update following the recently acquired extensive uranium and rare earth portfolio in Queensland and outline upcoming exploration plans.

DETAILS

Date: Thursday, 28 August 2025
Time: 11:30AM AEST / 9:30AM AWST

Registration:
https://www.abnnewswire.net/lnk/66GZ5R65

Participants will be able to submit questions via the panel throughout the presentation, however we highly encourage attendees to submit questions beforehand via chloe@janemorganmanagement.com.au

To view the Presentation, please visit:
https://www.abnnewswire.net/lnk/3Z6Y66N7

About Basin Energy Ltd:

Basin Energy Ltd (ASX:BSN) (OTCMKTS:BSNEF) is a green energy metals exploration and development company with an interest in three highly prospective projects positioned in the southeast corner and margins of the world-renowned Athabasca Basin in Canada and has recently acquired a significant portfolio of Green Energy Metals exploration assets located in Scandinavia.

Source:
Basin Energy Ltd

Contact:
Pete Moorhouse
Managing Director
pete.m@basinenergy.com.au
+61 7 3667 7449

Chloe Hayes
Investor and Media Relations
chloe@janemorganmanagement.com.au
+61 458619317

News Provided by ABN Newswire via QuoteMedia

This post appeared first on investingnews.com

Investor Insight

Corazon Mining Ltd presents a compelling investment case driven by a strategic pivot to WA gold exploration, capitalising on its recent acquisition of the Two Pools gold project. This acquisition offers significant near-term exploration upside, while the company retains a high-quality portfolio of base and battery metals projects, providing long-term optionality and leverage to the evolving critical minerals market. This strategy positions Corazon to deliver shareholder value through potential high-impact discovery and future project development.

Overview

Corazon Mining Ltd (ASX:CZN) is an Australian junior exploration company focused on high-quality gold and critical minerals projects in Australia and Canada.

Company Highlights

  • Two Pools Gold Project: The company’s primary focus is the newly acquired Two Pools Gold Project in Western Australia’s highly productive Plutonic Greenstone Belt. This underexplored tenure contains a recently identified 20km-long greenstone belt that was previously misclassified as granite.
  • Confirmed High-Grade Mineralisation: Historical drilling at Two Pools has delivered standout intercepts, including 12m @ 8.89 g/t Au (incl. 3m @ 34.25 g/t Au) and 18m @ 3.89 g/t Au (incl. 4m @ 15.96 g/t Au).
  • Trident-style Analogy: Drilling has confirmed mineralisation extends beneath overthrust granite, a key geological setting similar to Catalyst Metals’ nearby Trident Deposit, highlighting the potential for significant blind discoveries.
  • Strategic Location: Two Pools is located just 60km from Catalyst Metals’ Plutonic Processing Plant, offering strong future development synergies
  • Strategic Battery and Base Metals Portfolio: Corazon retains ownership of key projects in Canada and Australia including the MacBride Copper-Zinc-Gold Project and the historic Lynn Nickel-Copper-Cobalt sulphide camp in Manitoba, and the Mt Gilmore Copper-Cobalt-Gold project in NSW. These assets provide long-term exposure to critical metals.
  • Compelling Value Proposition: Corazon offers a unique investment opportunity with a small market capitalisation but large, high-quality assets.

Key Projects

Two Pools Gold Project (Western Australia)

Project Highlights:

  • A new, highly-prospective gold exploration project in the proven Plutonic-Marymia Greenstone Belt.
  • The project covers 193km2 of underexplored tenure containing a newly identified 20km-long greenstone belt
  • Historical Drilling and surface sampling have confirmed high-grade gold mineralisation, with a compelling geological setting analogous to other major deposits in the region.

Lynn Lake Base & Precious Metals (Manitoba, Canada)

Project Highlights:

  • High-quality base and precious metals asset, offering strategic, long-term value.
  • MacBride Copper-Zinc-Gold Project: High-grade, near-surface mineralisation and significant exploration upside for VMS-style deposits.

Other Projects

  • Mt Gilmore Copper-Cobalt-Gold (NSW, Australia): An emerging porphyry play with potential for a significant potential copper-gold system.

Management Team

Simon Coyle – Managing Director

Simon Coyle is a mining executive with over 20 years’ experience in the resources sector, spanning across gold, iron ore, manganese and lithium. He is a graduate of the Western Australian School of Mines and has held a number of senior operational leadership roles across both private and publicly listed companies.

Most recently, Coyle served as CEO and president of TSXV-listed Velox Energy Materials. Prior to this, he held senior roles at Pilbara Minerals, including general manager – operations, where he was instrumental in the development and expansion of its flagship lithium project, establishing it as one of the world’s leading spodumene concentrate producers. Coyle currently serves as non-executive director of Kali Metals.

Kristie Young – Non-executive Chair

Kristie Young is a professional Board Director who began her career as a mining engineer in the mid 90’s across both underground and open cut operations (incl. Hamersley Iron, Mt Isa Mines, Plutonic Gold, New Hampton Goldfields, Surpac), feasibility studies and project evaluation. She holds a BEng(Mining) Hons from the University of Queensland.

Over 25 years’ industry experience, including business development director roles with both EY and PwC. She brings more than 15 years’ experience on boards and committees and currently serves as a non-executive director of Brazilian Rare Earths (ASX:BRE), Livium (ASX:LIT), Tasmea Ltd (ASX:TEA), and MinEx CRC.

She is a Fellow of the AusIMM and a graduate and Fellow of the AICD.

Scott Williamson – Non-executive Director

Scott Williamson is a highly experienced mining engineer with an Engineering and Commerce degree from the West Australian School of Mines and Curtin University. With more than 20 years of experience spanning technical and corporate roles in the mining and finance sectors, he brings a wealth of industry expertise and strategic insight. A proven leader in business development, Scott has extensive experience in equity capital markets, complementing his strong technical skill set.

Currently, he serves as managing director of Blackstone Minerals and non-executive Director of Leeuwin Metals.

Scott also holds a WA First Class Mine Manager’s Certificate and is a member of the Australasian Institute of Mining and Metallurgy.

Robert Orr – Company Secretary and Chief Financial Officer

Robert Orr manages Corazon’s financial operations and corporate governance, ensuring compliance and effective financial management.

This post appeared first on investingnews.com

House Democrats are urging the Trump administration to allow children injured in Gaza during the Israel-Hamas war to enter the U.S. for emergency medical care.

In an Aug. 25 letter to Secretary of State Marco Rubio, more than 140 lawmakers asked for the reversal of a recent move to halt the approval of all visitor visas for people from the Gaza Strip, including children in need of medical care.

‘This pause will deny children the medical care they desperately need. It is wrong to prevent children who are caught in the middle of this horrific conflict from receiving lifesaving medical care,’ the letter reads.

‘In addition, this decision ignores the fact that all Palestinians leaving Gaza for medical treatment or to accompany family members receiving medical treatment are already subject to rigorous vetting by the Israeli government, including an Israeli security clearance, identity verification, and an assessment whether they are linked to Hamas,’ it continued.

The letter comes after the State Department abruptly announced earlier this month that it would stop issuing travel visas to people from Gaza, including medical-humanitarian visas, while it reviewed the process that allowed some of those individuals to enter the U.S. Some had already done so before the pause.

‘All visitor visas for individuals from Gaza are being stopped while we conduct a full and thorough review of the process and procedures used to issue a small number of temporary medical-humanitarian visas in recent days,’ the State Department wrote in a social media post on Aug. 16, without offering additional details.

Rubio has said the change was made after several congressional offices reached out with allegations ‘that some of the organizations bragging about, and involved in, acquiring these visas have strong links to terrorist groups like Hamas.’

‘It’s not just kids, it’s a bunch of adults that are accompanying them,’ Rubio said during an appearance on CBS News’ ‘Face the Nation’ the day after the announcement.

Before the agency’s announcement, several children from Gaza arrived in the U.S. to receive medical treatment ‘without incident,’ the House Democrats wrote in the letter.

‘We appeal to you to immediately reverse the State Department’s decision and resume allowing those from Gaza with approved temporary medical-humanitarian visas to enter the United States to receive the lifesaving care they need,’ the lawmakers wrote to Rubio.

The letter asks Rubio to specify the national security concerns that sparked the change to visa approvals. The lawmakers also requested a timeline for the agency’s review process and asked what safeguards are being considered to prevent the disruption of emergency medical care programs.

The Democrats also called on the department to allow children from Gaza requiring emergency medical attention to be exempt from the pause.

‘We would appreciate any clarification regarding the policy’s basis and a reassessment of its impact on vulnerable individuals and families in desperate need,’ the letter reads.

This post appeared first on FOX NEWS

President Donald Trump boasted that he has raised more than $1.5 billion ‘in various forms and political entities’ following the 2024 presidential contest.

‘I am pleased to report that I have raised, since the Great Presidential Election of 2024, in various forms and political entities, in excess of 1.5 Billion Dollars. MAKE AMERICA GREAT AGAIN!!! President DJT,’ he wrote in a Truth Social post on Wednesday.

Trump, who is currently serving his second term in office, is constitutionally barred from being elected president a third time.

‘No person shall be elected to the office of the President more than twice,’ the 22nd Amendment states.

But despite being term-limited from running again, Trump remains a Republican juggernaut.

And with the 2026 midterms on the horizon, and the Republican majority in each chamber of Congress on the line, the money could help the GOP maintain its grip on power through the end of the president’s White House tenure.

Fox News Digital reported in late June that Trump had secured commitments for $1.4 billion following Election Day in 2024. ‘The president’s political operation, including the cash on hand at the Republican National Committee, has raised a historic $900 million since November, and other commitments will bring the total to more than $1.4 billion,’ the report noted.

This post appeared first on FOX NEWS

Speaker Mike Johnson, R-La., is hitting the road this week to promote President Donald Trump’s ‘big, beautiful bill’ to Americans across the country.

Among his first stops was Tennessee’s iconic Nashville Palace, where he spoke with employees about the massive GOP agenda bill’s provisions eliminating taxes on tipped and overtime wages.

‘We’re so glad to see y’all. We’re here to talk about the no tax on tips provision,’ Johnson said in a video obtained exclusively by Fox News Digital. ‘You know what this means, at the end of the day, everybody has more money in their pockets and less money they’ve got to send to Washington.’

The footage also shows Nashville Palace general manager Cole noting that his staff were ‘happier.’

‘Everybody’s a little more happy when they make a little more money,’ Cole said.

Johnson also spoke directly with workers Vince and Shelby at the event, with Shelby telling the speaker she was ‘really happy to hear’ about the new tax provisions.

‘We think the numbers for Tennessee are pretty extraordinary,’ Johnson replied, noting ‘there’s a lot of tipped workers in Music City.’

Bartender Vince noted that eliminating taxes on tips would make his life ‘easier,’ later noting that it would give him a chance to travel and worry less about money.

It comes as Republicans have launched a full-court press tour promoting Trump’s agenda bill, even as Democrats attempt to wield it as a political cudgel ahead of the 2026 midterm elections.

Critics of the bill have positioned it as a tax giveaway for wealthy Americans at the expense of vulnerable Americans, citing provisions including new heightened work requirements for certain people on Medicaid and who receive federal food benefits.

Johnson took on those criticisms as well later that evening, while speaking at an event for the Tennessee Republican Party.

‘That’s real money for real people,’ Johnson said of the legislation. ‘Now, we can never forget. We never forget that every single Democrat in Congress – House and Senate – voted against every one of those big wins for the people. And we’ve got to remind the voters of that when the left lies about our bills.’

He accused Democrats of ‘lying’ about the legislation as their only political crutch.

‘How many of you know that’s all they got left? They don’t have a leader, no platform, no policies that are digestible by the American people. They just have to lie about what we’re doing,’ Johnson said.

‘Democrats voted against the prosperity and security of the American people. And they voted against working families’ tax cuts. It’s that simple, and they cannot escape it.’

Trump himself called the legislation ‘the largest working-class tax cuts in American history’ in comments to reporters ahead of a Cabinet meeting on Tuesday.

The bill passed the House and Senate just before GOP leaders’ self-imposed Fourth of July deadline, with Trump marking the holiday in a large signing ceremony.

But the Democratic opposition this August has been fierce. 

In addition to holding events in their own constituencies, both House and Senate Democrats have traveled across the country criticizing the bill.

‘Just spoke with seniors in Martinsville about some of the fallout from Trump’s Big Ugly Bill,’ Sen. Mark Warner, D-Va., wrote on X of a recent event he held in his state. ‘When the impacts of this scam start, we’re all going to be stuck footing the bill with worse and more expensive health care.’

This post appeared first on FOX NEWS

Welcome home, Uncle Herschel.

Responding to a weeklong barrage of complaints from its loyal customers, Cracker Barrel announced late Tuesday it was scrapping the restaurant’s rebranding campaign and returning to its classic logo.

‘We thank our guests for sharing their voices and love for Cracker Barrel,’ the company posted on X. ‘We said we would listen, and we have. Our new logo is going away and our ‘Old Timer’ will remain.’

Critics immediately pounced on social media, suggesting the company was caving to right-wing pressure, including a call earlier in the day from former President Donald Trump, who encouraged the company to reverse course before it was too late.

‘Cracker Barrel should go back to the old logo, admit a mistake based on customer response (the ultimate poll), and manage the company better than ever before,’ Trump urged early Tuesday. They got a billion dollars’ worth of free publicity if they play their cards right. Very tricky to do, but a great opportunity. Have a major news conference today. Make Cracker Barrel a WINNER again.’

Trump then acknowledged the company’s mea culpa Tuesday night.

‘Congratulations Cracker Barrel on changing your logo back to what it was. All of your fans very much appreciate it,’ Trump wrote. ‘Good luck in the future. Make lots of money and, most importantly, make your customers happy again!’

Company executives need to go beyond restoring the logo and acknowledge that Cracker Barrel was built on moral, commonsense values. 

Attributing the company’s decision to Trump’s remarks about the logo misses the larger concern. Returning Uncle Herschel to his chair beside the barrel is a start, but if that’s where the company retreat ends, Cracker Barrel will continue to sell fewer biscuits, fried chicken and Mama’s pancakes in the years to come.

Sadly, today’s Cracker Barrel isn’t your aunt or uncle’s wholesome highway pit stop it once was.

In recent years, Cracker Barrel has sponsored Pride events, partnered with the Human Rights Campaign to fan and normalize pronoun nonsense and sexual confusion and warmly embraced corporate DEI efforts. In the process, its stock price has dropped from a high of $147.91 in 2021 to the mid-$50s today.

Corporate rebranding and cultural firestorms often flow from internal ideological ignorance and progressive arrogance to outside firms obsessed with forcing their distorted and often woke worldview on everyone else.

Reports now suggest Cracker Barrel dismissed or ignored earlier warnings from investors. Sardar Biglari, one such entrepreneur, called the entire rebranding exercise ‘obvious folly.’

How did Cracker Barrel manage to go off its rocker?

If this story sounds familiar, it’s because we’ve seen it before. From Coca-Cola’s ‘New Coke’ fiasco in the 1980s to Bud Light’s tone-deaf campaign celebrating Dylan Mulvaney, there’s precedent for corporations committing unforced errors. It took decades for Bud Light to cultivate its brand and just 32 hours to destroy it.

While the company says the man in the logo is a composite, ‘Uncle Herschel’ was a real man and a real uncle of Danny Evins, the company’s founder. Cracker Barrel even calls him the ‘soul of Cracker Barrel.’ He was a salesman who frequented general stores all over the South and was known to ‘sit a spell’ and visit with customers. At company headquarters in Lebanon, Tenn., there’s even a statue of him standing beside an empty bench as if to invite you to sit and converse.

I think Herschel, who died in 1998, would have some thoughts about what’s been going on.

When Coca-Cola was fielding complaints after rolling out its new formula in 1985, company president Don Keough decided to take some of the protest calls himself. One was from an elderly woman. She was crying.

‘I said, ‘Honey, what’s the matter?’’ he recalled. ‘She said, ‘You’re taking away Coca-Cola … You’re playing around with my youth.’’

The late David Ogilvy, nicknamed the ‘Father of Advertising,’ knew well the lure and idiocy of trying to fix something that isn’t broken. ‘It takes uncommon guts to stick to one style in the face of all the pressures to come up with something new every six months,’ he warned. ‘It is tragically easy to be stampeded into change.’

Cracker Barrel underestimated the emotional tug and power of its familiar logo. In a world of constant change, Herschel remained a constant. In an economy that seems to celebrate the hard-charging, the old man represents those who are comfortable and content — a reprieve from the chaos and noisy churn everywhere else.

Company executives need to go beyond restoring the logo and acknowledge that Cracker Barrel was built on moral, commonsense values. They should politely pivot from politically correct corporate silliness and simply embrace the wholesome, sensible and timeless standards that have driven the company’s success: truth, fairness, kindness, respect and good old-fashioned hospitality.

The lesson here is simple: If you don’t want your company to go broke, resist the urge to go woke.

Cracker Barrel says it’s listening — but time will tell who the company is listening to in the days to come.

This post appeared first on FOX NEWS

An upcoming iPhone update is raising alarms among Republican fundraisers who say a new text filtration system set to hit the market in September will disproportionately block conservative fundraising and voter outreach efforts, echoing past Big Tech controversies that put a target on the backs of GOP voters. 

‘It’s no surprise that Big Tech wants to stop Donald Trump and other Republicans from communicating with people, because they’ve tried every other method to interfere already,’ Sean Dollman, founding partner of American Made Media Company, the parent company of Launchpad Strategies, which was the exclusive digital firm for Trump 2024, told Fox News Digital. 

‘Big Tech has suppressed him, suspended him, and banned him outright. And now they’re trying to make it so he can’t text anybody either. But MAGA won’t be stopped, and MAGA will always find a way.’

Apple is expected to roll out its latest update, iOS 26, in September, which will include an updated text filtration system that siphons text messages from unknown numbers that have no chat history with the recipient to a separate message folder that will not generate an alert to the recipient, leaders from American Made Media Company and Launchpad explained to Fox News Digital of the upcoming update. Text messages from known numbers saved on an individual’s phone are expected to continue alerting recipients and sending the messages to their typical text app. 

Launchpad Strategies served as the Trump 2024 campaign’s exclusive digital firm handling online advertising and consulting during Trump’s decisive victory over former Vice President Kamala Harris, and continues operating as a ‘full-service Republican digital agency dedicated to helping campaigns win,’ according to its website. 

Launchpad raised $509 million for the Trump campaign in 2024 and an additional $18 million in funds from 40 other clients during the massive 2024 election year, Fox Digital learned. 

The update could affect election cycles themselves, as text messages concerning voter registration and campaign rallies are expected to also be punted to this new folder, according to fundraisers. 

Data from the 2024 election cycle showed Republicans leveraged text campaigns two-to-one compared to Democrats, putting them directly in the line of fire when the expected update takes effect in September — ahead of the midterms hitting a fever pitch as Democrats look to flip the House and Senate from Republican control.

The text filtration’s scope is expected to extend far beyond just politics, including potentially siphoning texts concerning real-life issues such as doctor appointments from a number not saved in a person’s phone. 

The National Republican Senate Committee, which serves as the Senate Republican’s campaigning arm, circulated an internal memo in July sounding the alarm that the iOS update could cost Republicans more than $25 million in revenue, Punchbowl News reported at the time. 

Apple filtering texts from unknown numbers is not new, with such a program already used within the current iOS 18 systems. The current filtration system is by default not activated until a user toggles a button within the ‘settings’ app. 

The iOS 26 update is also currently available to the public for beta testing, the outlet Fast Company reported in July. 

Under the new update, the filtration system will be renamed to ‘Screen Unknown Senders,’ but will use ongoing criteria to kick text messages to another folder, specifically: if the iPhone owner does not have a contact saved in their phone and if the user has never interacted with the unknown phone number trying to contact them, according to Fast Company. 

The visibility of the texts from unknown senders will get a facelift under the new update, with the filtered messages from unknown senders made more easily seen by users with a new filtration button at the top of Apple’s Messages app that will display a blue badge noting how many unread texts an iPhone user has received from unknown numbers, according to the Fast Company report, which sought to quell Republican fundraising concerns over the update. 

Fox News Digital reached out to Apple for comment on Monday. 

History repeating itself is of top concern to Republican fundraisers, who pointed to a seemingly similar filtration system with Gmail messages that first hit the public’s radar in 2022. Studies at the time found Gmail allowed the vast majority of emails from left-wing politicians to land in a user’s inbox, while more than two-thirds of messages from conservative candidates were marked as spam, according to data from North Carolina State University’s Department of Computer Science that was previously reported by Fox News Digital. 

The Gmail filtration system resulted in a $2 billion loss for Republican candidates between 2019 and 2022, Fox News Digital reported in April 2022 citing research from the Republican National Committee, National Republican Congressional Committee, National Republican Senate Committee.

‘Big Tech has been silencing conservative voices and actively working against Republicans for multiple cycles. Google’s e-mail suppression – which affects the GOP’s fundraising and GOTV efforts – is another egregious example. Silicon Valley oligarchs are suppressing free political speech,’ then-RNC Chairwoman Ronna McDaniel, then-NRSC Chairman Senator Rick Scott and then-NRCC Chairman Congressman Tom Emmer said in a joint statement back in 2022, Fox News Digital reported at the time. 

The research found that between 2019 and 2020, conservative candidates raised $737 million on Republican fundraising platform WinRed from Gmail. The data found that just 32% of fundraising emails actually reached recipients, with Republicans estimating they missed out on $1.5 billion in contributions during the 2020 election cycle alone. 

The update comes as the Democrat Party is in turmoil following the 2024 race, which saw former President Biden drop out of the election cycle with just over 100 days to go before passing the proverbial mantle to Vice President Kamala Harris before the loss to Trump. The party has since attempted to find its political footing after an exodus of the working-class vote to the GOP in 2024 and voters rejecting left-wing policies, most notably surrounding social issues. 

Republican fundraisers are already working on workarounds for the expected update, including having recipients add fundraising numbers to their phones. 

Screenshots of fundraising text messages reviewed by Fox News Digital in 2025 show texts touting Trump’s name, accompanied by messages that ask recipients to add the number to their contacts or respond to the text to build a chat history. 

The texts include messages such as, ‘From Trump: Did you save my number yet?’ or ‘Download the Trump Contact Card to add me to your address book’ or other interactive texts such as, ‘Trump: If you had 5 minutes with me, what would you say? No links. I just want your reply below.’ 

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U.S. taxpayers are now the largest shareholders in Intel. What comes next isn’t so clear.

The Trump administration announced Friday that the government had taken a 10% stake in the California-based computer chipmaker, which has fallen behind rivals Nvidia and AMD in the artificial intelligence race. Over the past five years, Intel’s share price has declined more than 50%.

The administration has not provided any details about when or under what circumstances it would sell the Intel shares — or whether it would sell them at all. Nor did it say whether the United States would benefit from any dividends, although Intel has not paid out any since last year. The administration does not plan to take any board seats and has said it will vote against the company only in “limited” circumstances.

While Commerce Secretary Howard Lutnick suggested Friday that national security was a key motivator for taking the stake, President Donald Trump focused Monday more on the prospect of financial gains.

“I will make deals like that for our Country all day long,” Trump said on Truth Social. “I love seeing their stock price go up, making the USA RICHER, AND RICHER. More jobs for America!” he added.

Intel’s shares have climbed about 4% since the transaction was announced. Some experts said that while there is a potential upside to the agreement, it represents another norm-shattering expansion of presidential authority by Trump into the business world — and most likely not the last.

Already, the Trump administration has taken a “golden share” in Japan’s Nippon Steel as part of a deal granting approval to that company’s bid for U.S. Steel and giving the government a say in future Nippon transactions. Last month, the Defense Department announced it had purchased $400 million in rare earth miner MP Materials, making it the company’s largest shareholder. The White House also plans to take a cut of the sales that chipmakers Nvidia and AMD make to China.

Trump told reporters Monday that he hopes to see “many more” deals like Intel’s, adding that nobody “realizes how great it will be.” Kevin Hassett, director of Trump’s National Economic Council, said similar deals could help form the basis of a sovereign wealth fund, an idea that the administration had floated earlier as a way of giving U.S. taxpayers direct stakes in companies but had yet to fully develop.

“At some point there’ll be more transactions, if not in this industry, in other industries,” Hassett said on CNBC.

The U.S. stake in Intel does not amount to a complete government takeover. While the federal government has assumed total control of private corporations before, such incidents have usually happened during times of crisis — and not with the direct intention of trying to play the markets.

“He’s doing all this in a spooky, controversial way,” said Clyde Wayne Marks, a fellow in regulatory studies at the Competitive Enterprise Institute, a libertarian think tank. “Right now there is no crisis.”

President Woodrow Wilson nationalized railroads, as well as the telegraph, telephone, radio and wireless stations, during World War I. Nearly two decades ago, the government bailed out a host of private firms during the 2008-09 global financial crisis.

While the bailout involved holding corporate assets on the U.S. government’s books with the goal of returning earnings to taxpayers, there was never any serious intention to own them over the long term. And a Government Accountability Office study concluded in 2023 that the program ultimately came at a net cost of about $31 billion.

The U.S. government has long provided subsidies to private corporations in the form of loans and grants, to varying degrees of success. Two high-profile examples came during the Obama administration, when the Energy Department provided loans to a solar power company called Solyndra and to electric vehicle maker Tesla. Solyndra ultimately went bankrupt, while today Tesla is worth $1.2 trillion on the stock market.

Some have argued that the United States would have benefited from having taken a stake in Tesla. Yet at the time Tesla received the loan, in 2010, beliefs about the free market and the need to limit the government’s role in it prevailed not just among Republicans, but among Democrats, as well, experts say.

“Our system has not typically been built that way — it’s not how free enterprise is typically run,” said Dan Reicher, a former Energy Department official under Presidents Bill Clinton and Barack Obama. “History has proven that the more free-market approach, making the bottom line the bottom line for the companies running these operations, is a smarter way to go.”

Intel’s fortunes have sagged. Its manufacturing segment lost $3.2 billion in the second quarter, and last month it said it would lay off 15% of its workforce by year’s end while canceling billions in planned investments and delaying the completion date for a $28 billion chip plant near Columbus, Ohio.

In a securities filing Monday, Intel warned investors of the potential risks involved in the U.S. investment, among them that the arrangement may actually limit its ability to secure grants down the road, depending on its future performance. It could also harm international sales and make Intel subject to additional regulations and restrictions, both at home and abroad, it said.

On Monday, Trump was asked whether the Intel investment represented a new way of doing industrial policy.

“Yeah. Sure it is,” Trump said. “I want to try to get as much as I can.”

This post appeared first on NBC NEWS

Frontier Airlines is going after customers of Spirit Airlines, whose financial footing has gotten so shaky in recent weeks that it warned earlier this month it might not be able to survive another year without more cash.

Frontier on Tuesday announced 20 routes it plans to start this winter, many of them in major Spirit markets like its base at Fort Lauderdale International Airport in Florida. Frontier overlaps with Spirit on 35% of its capacity, more than any other airline, according to a Monday note from Deutsche Bank airline analyst Michael Linenberg.

Some of Frontier’s new routes from Fort Lauderdale include flights to Detroit, Houston, Chicago and Charlotte, North Carolina. It’s also rolling out routes from Houston to New Orleans; San Pedro Sula, Honduras; and Guatemala City.

Frontier had tried and failed to merge with its budget airline rival several times since 2022.

“I’m not here to talk about M&A,” Frontier CEO Barry Biffle said in an interview with CNBC on Tuesday when asked whether Frontier would buy Spirit. Biffle said he expects that Frontier would pick up the majority of Spirit’s market share if Spirit collapsed.

Both carriers have struggled from changing customer tastes for more upmarket seats and trips abroad, an oversupply of domestic capacity, and higher labor and other costs. Spirit’s situation has become more dire however, after it emerged from four months of bankruptcy protection in March facing many of the same problems.

Ultra-low-cost airlines are also challenged by larger rivals like United Airlines, American Airline and Delta Air Lines that have rolled out their own no-frills basic economy tickets but also offer customers bigger choices of destinations and other perks onboard like snacks and beverages.

Stock prices of rival airlines surged after Spirit’s warning earlier this month.

Biffle said the carrier wants to become the country’s largest budget airline and has rolled out loyalty matching programs to grab more customers. Frontier’s capacity was slightly smaller than Spirit’s in the second quarter, through the latter had slashed its flying by nearly 24% from a year earlier, while Frontier was down only 2%.

Spirit last week said it drew down the entire $275 million of its revolver and while it reached a two-year extension on its credit card processing agreement with U.S. Bank N.A., it agreed that it would hold back up to $3 million a day from the carrier.

The airline lost $245.8 million in the second quarter. Frontier lost $70 million.

Spirit has been looking for ways to slash costs, including furloughing and demoting hundreds more pilots and cutting unprofitable routes. Hundreds of flight attendants are on unpaid leaves of absence.

Spirit CEO Dave Davis said in an Aug. 12 staff memo after its “going concern” warning that “the team and I are confident that we can build a Spirit that will continue to provide consumers the unmatched value that they have come to expect for many years to come.”

The carrier reached a deal with bondholders who agreed to convert debt to equity in its Chapter 11 bankruptcy, but it didn’t cut other costs like renegotiating aircraft leases. Leasing firms have been reaching out to rivals in recent weeks to gauge whether competitors would take any of the Airbus planes that are in Spirit’s hands, according to people familiar with the matter, who asked to speak anonymously because the talks were private.

— CNBC’s Phil LeBeau contributed to this report.

This post appeared first on NBC NEWS

Alvopetro Energy Ltd. (TSXV: ALV,OTC:ALVOF) (OTCQX: ALVOF) announces initial production results from our recently completed 183-D4 Murucututu well (100% working interest) and an operational update.

President & CEO, Corey C. Ruttan commented:

‘The initial results from our 183-D4 well are extremely encouraging and have allowed us to post record daily natural gas production levels from our 100% owned Murucututu asset. This result reinforces our vision for Murucututu and our long-term growth objectives.’

Operational Update

Brazil

On our 100% owned Murucututu field, the 183-D4 well was drilled in the second quarter to a total measured depth of 3,072 metres. The well encountered the Caruaçu Member of the Maracangalha Formation 106 metres structurally updip of our 183-A3 well which has been on production since the fourth quarter of 2024. Based on cased-hole gamma ray logs and normalized gas while drilling, the well encountered potential natural gas pay in the Caruaçu Member of the Maracangalha Formation, with an aggregate 61 metres total vertical depth (‘TVD’) of potential natural gas pay between 2,439 and 2,838 metres TVD. We completed the well in seven intervals. The well went through an initial 116-hour cleanup period, recovering 2,620 barrels of completion fluid and 132 barrels of natural gas liquids. After this initial cleanup period, we flowed the well for 70 hours at a constant 32/64’choke at an average rate of 162 e 3 m 3 /d (5.7 MMcfpd, 953 boepd) with a 1,401psi flowing wellhead pressure. During this period, we also recovered a total of 995 barrels of completions fluid and 174 barrels of natural gas liquids. Average natural gas liquids (condensate) production during the flow period was 60 boepd. The flow rate over the last hour was 161 e 3 m 3 /d (5.7 MMcfpd, 947 boepd) with 1,384 psi flowing wellhead pressure. There are 12,190 barrels of 15,806 barrels of completions fluid left to recover. Given these extremely strong production results we are currently producing the Murucututu field from this single well as we are limited by our current facility capacity at Murucututu. As we continue to monitor these initial flow results, we will be evaluating options to improve production capacity of the system to allow for more production from the Murucututu field.

Our joint development on the unitized area (‘the Unit’) which includes our Caburé field commenced in the second quarter and four wells (2.2 net) have now been drilled. We have just commenced the completion program and expect to have the additional production online by the end of the third quarter. These development wells were primarily drilled to extend and enhance the productive plateau of the Unit and the results will also be incorporated into future Unit working interest redeterminations. The timing of drilling the fifth development well (0.6 net) is subject to the receipt of all necessary regulatory approvals.

Development Activities – Western Canada

In June, we further expanded our joint Mannville focused land based to 17,780 gross acres (8,890 net acres) and in July, two additional multi-lateral wells (1.0 net) were drilled with an aggregate of over 19 kilometers of open hole reservoir contact. Both wells have been completed and equipped and have just commenced production. Following a clean-up flow period, we will commence oil sales from these two new wells.

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:

Twitter – https://twitter.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.

Abbreviations:

boepd                    =

barrels of oil equivalent (‘boe’) per day

bopd                      =

barrels of oil and/or natural gas liquids (condensate) per day

e 3 m 3 /d                   =

thousand cubic metre per day

m 3 =

cubic metre

m 3 /d                      =

cubic metre per day

Mcf                        =

thousand cubic feet

Mcfpd                    =

thousand cubic feet per day

MMcf                     =

million cubic feet

MMcfpd                 =

million cubic feet per day

NGLs                    =

natural gas liquids (condensate)

psi                         =

pounds per square inch

BOE Disclosure

The term barrels of oil equivalent (‘boe’) may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6 Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.

Well Results

Data obtained from the 183-D4 well identified in this press release, including cased-hole logging data, potential net pay and initial production results should be considered preliminary. There is no representation by Alvopetro that the data relating to the 183-D4 well contained in this press release is necessarily indicative of long-term performance or ultimate recovery. The reader is cautioned not to unduly rely on such data as such data may not be indicative of future performance of the well or of expected production or operational results for Alvopetro in the future.

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 statements concerning future production and sales volumes, the expected timing of production and sales commencement from certain wells, and plans relating to the Company’s operational activities, proposed development activities and the timing for such activities. 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.

www.alvopetro.com
TSX-V: ALV, OTCQX: ALVOF

SOURCE Alvopetro Energy Ltd.

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