Metals Australia (MLS:AU) has announced High Copper Anomalies Show Deeper Potential at Warrego East
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Metals Australia (MLS:AU) has announced High Copper Anomalies Show Deeper Potential at Warrego East
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Aurum Resources (AUE:AU) has announced More high grade gold intercepts at BMT3 in Boundiali
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Joint Task Force Southern Spear forces struck two alleged narco-terrorist vessels moving along a major drug corridor in the Eastern Pacific on Thursday, killing five militants without suffering any U.S. casualties.
U.S. Southern Command (SOUTHCOM) released a video on X showing the opening strike and the aftermath, with the targeted boat engulfed in flames.
‘On Dec. 18, at the direction of [Secretary of War] Pete Hegseth, Joint Task Force Southern Spear conducted lethal kinetic strikes on two vessels operated by Designated Terrorist Organizations in international waters,’ the post read. ‘Intelligence confirmed that the vessels were transiting along known narco-trafficking routes in the Eastern Pacific and were engaged in narco-trafficking operations.
‘A total of five male narco-terrorists were killed during these actions — three in the first vessel and two in the second vessel,’ SOUTHCOM added. ‘No U.S. military forces were harmed.’
Joint Task Force Southern Spear was established to help unify Navy, Coast Guard, intelligence and special operations assets to rapidly strike time-sensitive targets at sea.
The Pentagon has not released the identities of the four narco-terrorists killed or the specific terrorist organization involved.
The U.S. has conducted dozens of strikes on suspected drug-trafficking vessels in the Eastern Pacific and Caribbean to dismantle narco-terrorist networks, targeting groups such as Venezuela’s Tren de Aragua and Colombia’s Ejército de Liberación Nacional.
The campaign began Sept. 2 with a strike that killed 11 alleged members of Tren de Aragua, followed by additional operations that reportedly eliminated dozens more across known trafficking routes.
U.S. forces have reportedly hit various types of vessels, including submersibles, fishing boats and high-speed vessels.
Earlier this month, the Trump administration launched its ‘Fentanyl Free America’ plan, with the Drug Enforcement Administration (DEA) reporting that strikes on suspected Caribbean drug vessels are helping curb the flow of illegal drugs into the U.S.
Fox News Digital’s Bonny Chu contributed to this report.
Senate Republicans confirmed nearly 100 of President Donald Trump’s nominees, leapfrogging previous administrations and his own first term in the process in their sprint to finish off the year.
The confirmation of 97 of Trump’s picks on Thursday with a 53-43 vote marked one of the final bits of floor action in the upper chamber following a blistering pace set out by Senate Majority Leader John Thune, R-S.D., once Republicans gained control of the Senate in January.
Senate Republicans overcame several obstacles throughout the year, including mending intra-party rifts to pass the president’s signature legislation, the ‘one big, beautiful bill,’ and reopening the government after the longest shutdown in history.
But it was confirming Trump’s nominees that proved near impossible within the confines of Senate rules, given that Senate Democrats laid out a blanket objection to even the lowest level positions throughout the government.
Senate Majority Whip John Barrasso, R-Wyo., noted that Republicans kicked off the year by confirming Trump’s Cabinet at a breakneck pace, but they soon slammed into a wall of ‘unprecedented obstruction from the Democratic minority.’
‘We began the year by confirming President Trump’s Cabinet faster than any Senate in modern history,’ Barrasso said. ‘And by week’s end, President Trump will have 417 nominees confirmed by the Senate this year. That’s far more than the 365 that Joe Biden had in his first year in office.’
In response, Republicans turned to the nuclear option in September and changed the vote threshold for confirming sub-Cabinet-level positions, and have since confirmed 417 of Trump’s picks.
Thune argued that Senate Democrats, led by Senate Minority Leader Chuck Schumer, D-N.Y., were engaging in ‘nothing more than petty politics,’ not allowing nominees through the typical fast-track processes, like voice votes or unanimous consent, to install low-level presidential nominations.
‘Democrats cannot deal with the fact that the American people elected President Trump, and so they’ve engaged in this pointless political obstruction in revenge,’ Thune said.
With the latest batch of confirmations, Senate Republicans have nearly cleared the backlog of nominees that over the summer had ballooned to nearly 150 picks awaiting lawmakers’ decision. Now, there are only 15 picks left to be confirmed.
Among the list of now-confirmed nominees are former Rep. Anthony D’Esposito, R-N.Y., to serve as inspector general at the Department of Labor and two picks for the National Labor Relations Board, James Murphy and Scott Mayer, along with several others in nearly every federal agency.
Lawmakers are set to tee up another nominee, Joshua Simmons, who Trump tapped to be the CIA’s special counsel, before the night is over. And they’re still working to move forward with a colossal spending package that ties five appropriations bills together.
But some Senate Democrats are objecting to the minibus spending package, jeopardizing its chances of hitting the floor before lawmakers flee Capitol Hill. Conversations between Republicans and Democrats are ongoing, and could go deep into the night on a path forward.
Thune, as he walked onto the Senate floor Thursday night, said that the plan was to at least knock out the nominees package first.
‘We’ll see where it goes from there,’ he said.
The oil and gas market was punctuated with volatility in 2025.
Oil prices softened as supply outpaced demand and inventories built. Brent and West Texas Intermediate (WTI) crude slipped in late 2025, with Brent dipping below US$60 per barrel and WTI hovering at US$55.
Production increases from non-OPEC producers — including record US output — and higher OPEC+ quotas have contributed to a notable supply overhang, pressuring crude toward four year lows.
Starting the year above US$70, both Brent and WTI prices have now seen steep declines of more than 20 percent amid signs of weaker demand in major economies like China and elevated global stocks.
Meanwhile, the natural gas market saw price shifts driven by weather and storage dynamics.
Prices started the year at US$3.64 per million British thermal units and slipped to a seasonal low of US$2.74 in August. Values peaked at US$5.31 on December 5, and have since retreated to the US$3.94 level.
The US Energy Information Administration (EIA) raised its outlook for late 2025 and early 2026 gas prices after an early cold snap bolstered heating demand, even as forecasts have moderated Henry Hub projections for 2025 to 2026.
2025 saw oil prices fluctuate between highs of US$81.86 (Brent) and US$78.99 (WTI) and lows of US$59.41 and US$55.56, respectively, as the energy market served as a barometer of global political and trade tensions.
“Throughout the year, prices have continued the downtrend they began in April (2024) as OPEC+ continued to hike output and China’s economy continued to struggle under the weight of a flailing property sector, downbeat consumer confidence, overindebted local governments and flagging external demand,” he added.
While the oil market isn’t new to volatility, this year proved different as US President Donald Trump’s on-again, off-again tariffs infused global uncertainty into the energy market.
“We can see that Trump’s ‘Liberation Day’ tariffs pushed prices down to a level from which they’ve not recovered from, barring a spike in June as a result of the 12 day Iran-Israel war,” said Cunningham.
“Since then, Brent crude oil prices have continued to fall as OPEC+ caught the market off guard with its aggressive output hikes, which were designed to win back market share from non-cartel producers.’
Meanwhile, OPEC is approaching full production capacity, with Saudi Arabia being the main exception.
“Even though people are talking about lots of supply, demand is still growing,” Schachter said, noting that global oil demand rose roughly 1.3 million barrels per day in 2025 and is expected to increase by about 1.2 million in 2026.
New supply additions are limited, he explained, mentioning Guyana’s offshore discoveries by ExxonMobil (NYSE:XOM), some output from Brazil and minor contributions from Canada.
“Most basins are tired, and not enough money is being spent to bring on production,” Schachter said, predicting that global inventory drawdowns in 2026 will support higher prices.
Despite lack of investment at the exploration level, FocusEconomics panelists are forecasting a rise in both oil and gas supply in 2026 fueled by output growth at existing operations.
Cunningham pointed to organizations like the EIA and International Energy Agency (IEA), which “hiked their forecasts in recent months in response to OPEC+ increasing output unexpectedly fast and the recent surge in demand for US LNG.”
“The real question is not if oil and gas production will increase, but by how much,” said Cunningham.
A ramp up could be curtailed by geopolitical disruptions, he went on to note.
“Recent frictions between members of the OPEC+ cartel will persist, with Russia likely to favor lower production levels given US sanctions and countries like Saudi Arabia and the United Arab Emirates eager to push production higher given their excess capacity and desire to win back market share from non-OPEC+ producers,” he said.
“Moreover, countries like Kazakhstan and Iraq continue to overshoot their quotas, and in late 2023 Angola left the cartel due to disputes over its allowed production level.”
Global oil demand is expected to rise in 2026, driven primarily by transportation fuels and petrochemical feedstocks.
Gasoline is projected to lead the increase, supported by recovering air travel and road mobility, while diesel and other products also contribute. Non-OECD regions, particularly China and India, will account for most of the growth, with expanding petrochemical capacity in major economies boosting crude-derived feedstock demand.
Overall, transport and industrial activity remain the key engines behind the expected rise in oil consumption.
“Our panelists see world oil production rising 1.1 percent in 2026 as non-OPEC+ countries such as Guyana and the US hike output,” said FocusEconomics’ Cunningham.
Similar to the trajectory for oil, natural gas demand is expected to rise in 2026 as global consumption rebounds and LNG exports expand sharply. “The IEA (is) estimating growth at around 2 percent with consumption at an all-time high on higher demand in the industrial and electricity sectors,” said Cunningham.
Rising LNG supply — with new export capacity coming online in the US, Canada and Qatar — is projected to support stronger import growth, particularly in Asia, where demand is expected to rebound after a 2025 slowdown.
“Asia is hungry for LNG; the IEA estimates the region’s natural gas demand will rise over 4 percent in 2026, with LNG imports up by 10 percent,” the expert said. Increased use of natural gas in power generation and industrial sectors will also contribute to growth, helping push global gas demand toward a new peak next year.
“Of course, these forecasts could change quickly if the world economy or the oil and gas sector is subject to further shocks, which is why we recommend regularly checking the latest forecasts that are available,” Cunningham added.
Further ahead, Schachter argued that rising global power needs will underpin long-term demand for natural gas, particularly as alternatives struggle to scale. Aging power grids are another constraint. Much of the world’s electricity infrastructure has not been meaningfully upgraded, and expanding capacity will require major investment in transmission — driving demand for copper, steel and aluminum alongside new generation.
Against that backdrop, Schachter sees LNG as central to meeting near- and medium-term power needs.
“The demand for LNG is the story,” he said, adding that natural gas is increasingly viewed not as a temporary transition fuel, but as “the most efficient, from a climate and environmental point of view.”
He also highlighted Canada’s advantage as producers invest heavily in emissions-reduction technologies, including methane mitigation. That positioning could make Canadian LNG more attractive to import-dependent nations such as Japan and South Korea.
While new supply from Qatar and the US will add capacity, Schachter cautioned that LNG development is rarely linear, pointing to Canada’s decades-long path to its first operating export terminal. Despite inevitable delays and short-term imbalances, he said the long-term outlook remains clear: “The industry’s fundamentals are very, very positive.”
Cunningham also pointed to increased output from the US and Qatar as key areas to watch in 2026.
“The big Qatari and US LNG projects will help natural gas prices converge globally — our Consensus Forecast is for the percentage difference between US gas prices (which tend to be lower due to huge domestic production) and those in Asia and Europe to ease to the lowest level since 2020, the year the pandemic sent gas demand plummeting,” said Cunningham, adding, “In short, record US LNG shipments will send up prices at home and lower them abroad.”
Cunningham went on to explain that unlike oil, in the natural gas market there tends to be more price divergence between regions as natural gas is harder to transport over large distances. Oil can be poured into a barrel and shipped, whereas natural gas first needs to be liquified if it’s to be sent overseas. Greater LNG capacity will help bridge this gap.
Schachter expects WTI to average over US$70 in 2026, with Brent around US$73 to US$74.
He anticipates some volatility early in the new year, saying that in Q1 he expects trading to be “still sloppy between US$56 and US$66,” before prices rise in Q2 to US$62 to US$72. From there, he sees prices reaching US$68 to US$78 in the year’s third quarter as inventories tighten and market fundamentals assert themselves.
“People think we’re going back to US$80 today. US$58 oil — it ain’t going to US$80. But when the industry is in rational supply and demand, prices climb, especially when inventories draw down quickly,” Schachter said, recalling the 2008 peak in oil prices near US$147 during extreme supply shortages.
Looking at the year ahead, FocusEconomics expects the trends of 2025 to continue.
“Average Brent crude oil prices will ease further to a post-pandemic low, while US natural gas prices will increase to the highest average level since 2014 barring 2022’s Russia-Ukraine-war-driven spike,” said Cunningham.
“OPEC+ is set to continue raising output — after a pause in Q1 2026 — and the global economy should slow as the boost from export front-loading ahead of US tariff wanes.”
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Maria Shriver slammed President Donald Trump on Thursday after the Kennedy Center’s board voted unanimously to rename the institution to the ‘Trump-Kennedy Center,’ accusing him of trying to attach his name to a memorial dedicated to her uncle, President John F. Kennedy.
Shriver, a high-profile member of the Kennedy family, said it is ‘beyond comprehension’ to change the center’s name, accusing Trump of staining JFK’s legacy in art, culture and education.
‘It is beyond comprehension that this sitting president has sought to rename this great memorial dedicated to President Kennedy,’ Shriver wrote on X. ‘It is beyond wild that he would think adding his name in front of President Kennedy’s name is acceptable. It is not.’
Kennedy Center vice president of public relations Roma Daravi told Fox Digital Thursday that the unanimous vote ‘recognizes’ Trump’s work to pull the center out of financial straits while working to also update the building originally constructed in the 1960s, and opened in 1971.
Shriver argued that adding Trump’s name was not ‘dignified’ or ‘funny,’ and ‘is way beneath the stature of the job.’
‘Just when you think someone can’t stoop any lower, down they go,’ she said.
The former First Lady of California quipped that Trump might want to rename JFK Airport or make other changes, including the ‘Trump Lincoln Memorial,’ ‘Trump Jefferson Memorial’ and ‘Trump Smithsonian.’
‘Can we not see what is happening here?’ Shriver said. ‘C’mon, my fellow Americans! Wake up!’
President Trump said on Thursday he was ‘honored’ and ‘surprised’ by the update.
‘We’re saving the building. We saved the building. The building was in such bad shape, physically, financially, in every other way. And now it’s very solid, very strong. We have something going on television, I guess on the 23rd December. I think it’s going to get very big ratings and the Kennedy Center is really, really back strongly,’ he told reporters.
Other members of the Kennedy family, including JFK’s great-nephew, Joe Kennedy III, weighed in on the name change, arguing that federal law protects the center’s name from being changed.
‘It can no sooner be renamed than can someone rename the Lincoln Memorial, no matter what anyone says,’ he wrote on X.
The name change follows recent precedent, a Kennedy Center official told Fox News Digital, noting that the State Department’s decided earlier this month to add Trump’s name to the U.S. Institute of Peace and to past presidential administrations that have renamed military bases.
Fox News Digital has reached out to the White House for comment.
Fox News Digital’s Ashley Carnahan and Emma Colton contributed to this report.
Those worried about shuttering the U.S. Agency for International Development (USAID) were wrong, according to Secretary of State Marco Rubio, who touted the agency’s record in delivering support in the wake of Hurricane Melissa that ravaged the Caribbean in October.
Although USAID historically functioned as an independent agency to deliver aid to impoverished countries and development assistance, the State Department announced in March that it would absorb remaining operations and functions in an effort to streamline operations to deliver foreign assistance amid concerns that USAID did not advance U.S. core interests. The move resulted in cuts for thousands of USAID employees.
Critics including Sen. Bernie Sanders, I-Vt., said that upending the agency would ‘lead to millions of preventable deaths,’ while a group of House Democrats wrote a letter to President Donald Trump in February as USAID cuts got underway that changes would lead to increased maternal and child mortality.
But Rubio now claims those skeptics’ fears were unfounded.
‘Alarmists in politics and the media forecasted that the closure of USAID would result in catastrophe. Now, nearly a year later, they’ve been proven wrong,’ Rubio said in a statement to Fox News Digital. ‘The State Department has realigned foreign assistance with the interests of the American people, streamlined disaster response capabilities, and leveraged the ingenuity of American companies to save lives.’
Specifically, Rubio pointed to the assistance the State Department provided in the aftermath of Hurricane Melissa, which hit Jamaica as a Category 5 hurricane and was the strongest to strike Kingston since the island started tracking its storms 174 years ago.
The State Department deployed a regional disaster assistance response team (DART) and activated U.S.-based urban search and rescue (USAR) teams to support response efforts in the region as part of recovery efforts.
Likewise, the State Department allocated roughly $1 million to go toward administering food and other resources to those in need, using predesignated supplies housed in 12 different warehouses across the region. Ultimately, the State Department coordinated with the United Nations World Food Program to distribute 5,000 family food packs to families in Jamaica.
‘This new era of foreign assistance eliminates extreme ideological projects that previous administrations forced the American people to subsidize, cuts out the wasteful NGO industrial complex, and puts the American people first,’ Rubio said.
Sanders’ office did not respond to a request for comment from Fox News Digital.
The Department of Government Efficiency (DOGE) targeted USAID in its push to eliminate wasteful spending during a review earlier in 2025. The agency attracted scrutiny for a series of funding choices, including allocating $1.5 million for a program that sought to ‘advance diversity, equity and inclusion in Serbia’s workplaces and business communities’ and a $70,000 program for a ‘DEI musical’ in Ireland.
USAID was officially closed down in July — a move that attracted criticism from Democrats and former Presidents George W. Bush and Barack Obama.
‘Gutting USAID is a travesty, and it’s a tragedy,’ Obama said in a video that was shown to departing USAID employees, according to The Associated Press. ‘Because it’s some of the most important work happening anywhere in the world.’
Obama labeled the decision to upend USAID ‘a colossal mistake,’ and said, ‘sooner or later, leaders on both sides of the aisle will realize how much you are needed.’
Meanwhile, the State Department is undergoing its own transformation. In addition to absorbing USAID, the State Department has undergone a massive overhaul as part of the largest restructuring for the agency since the Cold War.
Additionally, it rolled out an America First Global Health Strategy in September to deliver health aid worldwide by working directly with recipient country’s governments instead of through non-governmental organizations and other aid programs.
In December, Kenya became the first country to sign a five-year, $2.5 billion Health Cooperation Framework agreement with the U.S. in alignment with this new strategy, which also aims for recipient countries to eventually bear more responsibility for their own health expenditures.
Fox News’ Emma Colton contributed to this report.
President Trump signed into law a nearly $1 trillion defense policy bill Thursday and approved what looks to be the largest military spending package in U.S. history.
The fiscal 2026 National Defense Authorization Act authorizes $901 billion in military spending, roughly $8 billion more than the administration requested, according to Reuters.
It also delivers a nearly 4% pay raise for troops, provides new funding for Ukraine and the Baltic States and includes measures designed to scale back security commitments abroad.
In a release shared online, Rep. Rick Allen, R-Ga., said, ‘With President Trump’s signature, the FY2026 NDAA officially delivers on our peace-through-strength agenda with a generational investment in our national defense.
‘Not only does this bipartisan bill ensure America’s warfighters are the most lethal and capable fighting force in the world, but it also improves the quality of life for our service members in the 12th District and nationwide.’
As previously reported by Fox News Digital, the Senate passed the NDAA Wednesday, sending the compromise bill approved with bipartisan support to the president’s desk.
Trump signed it quietly Thursday evening, according to Reuters.
The NDAA includes $800 million for Ukraine over the next two years as part of the Ukraine Security Assistance Initiative, which pays U.S. firms for weapons for Ukraine’s military.
It also includes $175 million for the Baltic Security Initiative, which supports Latvia, Lithuania and Estonia.
The bill prohibits reducing U.S. troop levels in Europe below 76,000 for more than 45 days without formal certification by Congress.
The legislation also restricts the administration from reducing U.S. forces in South Korea below 28,500 troops.
Trump ultimately backed the bill in part because it codifies some of his executive orders, including funding the Golden Dome missile defense system and getting rid of diversity, equity and inclusion programs, per Reuters.
‘Under President Trump, the U.S. is rebuilding strength, restoring deterrence and proving America will not back down. President Trump and Republicans promised peace through strength. The FY26 NDAA delivers it,’ House Speaker Mike Johnson had said in a statement Dec. 7 on the new measures.
Fox News Digital has reached out to the White House for comment.
Uranium prices stayed fairly steady in 2025, but experts agree its long-term outlook is compelling,
Demand picked up from reactor restarts, new nuclear construction projects and growing interest in small modular reactors. Meanwhile, supply constraints continued as miners faced issues ramping up.
Publish date: September 16, 2025
In September, the Trump administration zeroed in on its plan to reduce uranium reliance on Russia.
A report by Bloomberg outlined that Russia still accounts for approximately a quarter of the fuel used in America’s 94 nuclear reactors, which generate roughly 20 percent of the nation’s electricity.
Secretary of Energy Chris Wright said that the Department of Energy was working to reduce that dependence by rebuilding domestic uranium and enrichment supply chains.
The concept of a federal uranium reserve dates back to 2020, when the first Trump administration sought US$150 million to begin direct purchases from US producers, though Congress approved only half the amount.
Supply concerns sharpened after Russia briefly restricted uranium exports to the US in late 2024, underscoring Washington’s exposure to geopolitical risks.
A law signed in May 2024 requires US utilities to phase out Russian uranium by 2028, with future stockpile levels expected to rise in line with new reactor construction, including small modular reactors.
“We’re moving to a place — and we’re not there yet — to no longer use Russian enriched uranium,” Wright said, adding that the US needs significantly more domestic uranium and enrichment capacity.
Publish date: November 6, 2025
China marked a milestone in 2025 by converting thorium into uranium inside a working molten salt reactor.
The experimental thorium molten salt reactor, developed by the Chinese Academy of Sciences’ Shanghai Institute of Applied Physics in the Gobi Desert, is the first in the world to demonstrate stable thorium-based fission.
The reactor has been operating since reaching first criticality in October 2023 and has now produced data confirming the conversion of thorium-232 into uranium-233, a fissile material capable of sustaining a nuclear chain reaction.
Unlike conventional reactors that use solid uranium fuel rods, the system relies on liquid fuel dissolved in molten fluoride salt, allowing continuous refueling and stable heat generation without shutting down operations.
Publish date: August 6, 2025
In August, Uranium Energy’s (NYSEAMERICAN:UEC) Sweetwater uranium complex in Wyoming was designated for expedited permitting under the Trump administration’s FAST-41 initiative. The initiative is part of a broader strategy to revitalize the US nuclear fuel supply chain and reduce reliance on imports from geopolitical rivals.
The Sweetwater complex, located in Wyoming’s Great Divide Basin, is anchored by a fully licensed conventional uranium mill with a capacity of 3,000 metric tons per day and annual output of 4.1 million pounds.
The site previously included several permitted mines — Sweetwater (Red Desert), Big Eagle and Jackpot (Green Mountain) — and will now be evaluated for in-situ recovery mining, a lower-impact extraction technique.
The new permitting push will allow the company to modify existing approvals to incorporate in-situ recovery capabilities both within and beyond the current mine boundary, including on adjacent federal lands.
Sweetwater is the second uranium project to receive fast-track treatment under the policy, following Anfield Energy’s (TSXV:AEC,NASDAQ:AEC) Velvet-Wood project in Utah, which received the status in May.
Publish date: February 28, 2025
In February, Denison Mines (TSX:DML,NYSEAMERICAN:DNN) announced that the Canadian Nuclear Safety Commission (CNSC) had scheduled public hearings for its Wheeler River uranium project in Saskatchewan.
The hearings were scheduled for October 8 and December 8 to 12, and according to the company would represent the final stage in the federal environmental assessment process. Denison holds an effective 95 percent interest in Wheeler River, the largest undeveloped uranium project in the Eastern Athabasca Basin. If approved, the company expects to begin site preparation and construction for its Phoenix in-situ recovery uranium project in early 2026.
In its Q3 report, released on November 6, Denison said the first part of the hearing was complete, and that it was expecting a decision from the CNSC in early 2026 after part two of the hearing.
Publish date: October 2, 2025
Possibly the biggest uranium news in Australia in 2025 was Western Australia’s move to consider lifting its ban on new uranium licenses. In October, ahead of an energy-focused trade mission to China and Japan, Premier Roger Cook signaled the policy might be under review as part of broader strategic development considerations.
China, Western Australia’s largest trading partner, accounts for more than half of the state’s exports.
While the state’s three existing uranium mines continue to operate under previously approved permits, no new developments have been allowed since the ban was put in place in 2017. Cook emphasized that Western Australia intends to respect legal mining leases, while exploring future opportunities.
He also stressed that any change to the uranium policy would likely depend on a “significant shift” in global markets, while the state continues to monitor existing permit holders and potential future projects.
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the ‘Company’ or ‘Questcorp’) announces that has closed its non-brokered private placement (the ‘Offering’) of flow-through units (each, an ‘FT Unit’). In connection with closing, the Company has issued 6,023,077 FT Units, at a price of $0.13 per FT Unit, for gross proceeds of up to $783,000. Each FT Unit consists of one common share of the Company, issued as a flow-through share within the meaning of the Income Tax Act (Canada), and one-half-of-one share purchase warrant (each whole warrant, a ‘Warrant’). Each Warrant entitles the holder to purchase an additional common share of the Company at a price of $0.20 until December 17, 2027.
The Company anticipates the proceeds from the Offering will be used to conduct exploration of the Company’s North Island Copper Property, located on Vancouver Island, British Columbia.
In connection with closing, the Company paid $53,900 and issued 414,615 share purchase warrants (each, a ‘Finders’ Warrant‘) to certain arms-length parties who assisted in introducing subscribers to the Offering. Each Finders’ Warrant is exercisable to acquire a common share of the Company until December 17, 2027, with 134,615 of the Finders’ Warrants exercisable at a price of $0.13 and 280,000 exercisable at a price of $0.20. All securities issued in connection with the Offering are subject to restrictions on resale until April 18, 2026 in accordance with applicable securities laws.
About Questcorp Mining Inc.
Questcorp Mining Inc. is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metals properties of merit. The Company holds an option to acquire an undivided 100% interest in and to mineral claims totaling 1,168.09 hectares comprising the North Island Copper Property, on Vancouver Island, British Columbia, subject to a royalty obligation. The Company also holds an option to acquire an undivided 100% interest in and to mineral claims totaling 2,520.2 hectares comprising the La Union Project located in Sonora, Mexico, subject to a royalty obligation.
Contact Information
Questcorp Mining Corp.
Saf Dhillon, President & CEO
Email: saf@questcorpmining.ca
Telephone: (604) 484-3031
This news release includes certain ‘forward-looking statements’ under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain capital markets; and delay or failure to receive board or regulatory approvals. There can be no assurance that the geophysical surveys will be completed as contemplated or at all and 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 statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278391
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