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Golconda Gold

Investing 6 Mins Read

Investor Insight

With a growth-oriented strategy, Golconda Gold is positioning itself as one of the highest-torque junior gold producers in the sector with assets in prolific gold districts in South Africa and the US. For investors bullish on gold, Golconda is a unique opportunity: a profitable producer with meaningful growth ahead, exposure to both gold and silver, and the discipline to deliver shareholder value in a capital-efficient way.

Overview

Golconda Gold (TSXV:GG;OTCQB:GGGOF) is an unhedged gold producer and explorer with operations in South Africa and the United States. The company is focused on optimizing its current mining and processing operations, reducing costs, and growing organically while pursuing accretive acquisition opportunities.

Its growth story is underpinned by two cornerstone assets: Galaxy Gold, the company’s cash-flowing, long-life South African operation; and Summit, a high-grade silver-gold project in New Mexico poised for a restart. Galaxy provides a steadily growing, self-funded production base, while Summit is positioned as the next major catalyst for Golconda, broadening investor exposure to silver and US operations. These assets enable Golconda to deliver meaningful production growth without dilution, providing investors direct leverage to gold prices at a time when juniors remain undervalued relative to commodity prices.

With strong insider ownership and a disciplined approach to capital, Golconda offers investors a unique combination of operating stability, near-term growth and upside exploration potential.

Company Highlights

  • Significant Production Growth: On track to triple production over three years at Galaxy while bringing Summit online in Q2 2026.
  • Summit Restart and Spin-out: Fully permitted past-producing mine in New Mexico, expected to restart in Q2 2026 and spin out as a standalone US-focused gold-silver producer in Q4 2026.
  • No Dilution Strategy: Growth funded through operating cash flow rather than equity raises, ensuring torque to gold without shareholder dilution.
  • Insider Alignment: Management and insiders control more than 40 percent of shares, aligning leadership directly with shareholder interests.
  • Jurisdictional Strengths: Operations in South Africa’s Barberton Greenstone Belt (long history of gold mining, strong infrastructure) and in the US southwest.
  • Exploration Upside: Both Galaxy and Summit hold substantial untested upside with additional ore bodies and underexplored zones.

Key Projects

Galaxy Gold Mine

Galaxy is Golconda’s cornerstone asset and currently the company’s sole producing mine. Situated in the Barberton Greenstone Belt, one of South Africa’s most prolific gold districts with nearly 150 years of mining history, the mine benefits from established infrastructure, sealed-road access and proximity to skilled mining services. The property hosts a large resource base of 941,000 oz of gold in the measured and indicated categories grading 2.79 grams per ton (g/t), plus 1.37 million oz (Moz) inferred at 2.62 g/t.

Snapshot of Galaxy Gold Mine Operations

The operation is an underground, trackless mechanized mine, currently producing at a run rate of ~12,000 oz/year, with a multi-stage ramp-up plan to 25,000 oz/year by 2027 and up to 45,000 oz/year by 2028. Ore is processed through a 50,000 tonnes per month (tpm) crush-mill-float plant, which was refurbished with a new mill, concentrate tanks, and a filter press. The plant is already capable of handling the full ramp-up capacity, allowing it to expand with minimal capital outlay.

Galaxy produces a refractory gold concentrate sold directly to Ocean Partners, eliminating the need for BIOX or other complex high-capex processing routes. This low-risk sales model enables Galaxy to operate profitably and reinvest cash flow into mine development. The mine plan leverages both the Princeton and Galaxy ore bodies, with development into additional levels and ore bodies among the 21 known mineralized zones on the property. Over its history, Galaxy (formerly, the Agnes mine) has produced more than 1.3 Moz of gold, with current exploration drilling continuing to identify significant upside at depth and along strike.

Economically, Galaxy is highly accretive: at $3,000/oz gold, the operation generates an after-tax NPV5 percent of US$201 million, with life-of-mine free cash flow exceeding US$270 million on conservative assumptions. The operation has a projected all-in sustaining cost (AISC) of ~US$1,000/oz once ramp-up is complete, positioning it competitively within the global cost curve.

Summit Gold-Silver Mine and Banner Mill

The Summit mine, located in the Steeple Rock Mining District of southwestern New Mexico, is a high-grade past-producing underground operation. The New Mexico portfolio also includes the Banner mill, a 240 tpd flotation facility located 57 miles from Summit via paved highways and sealed roads. Golconda acquired the project from Waterton in 2021, along with a streamlined land package totaling ~4,000 acres of patented and unpatented claims.

Summit Mine and Banner Mills snapshot

Summit hosts a defined resource of 1.4 Moz silver and 26,000 oz gold in measured and indicated categories, plus 5.1 Moz silver and 74,000 oz gold inferred. The mine is fully permitted and is expected to restart in Q2 2026, with first concentrate production within 9 to 12 months. The restart strategy is fully funded internally from Galaxy cash flows, ensuring no dilution to shareholders.

The planned annual production profile targets ~10,000 oz gold and 444,000 oz silver at steady state, with an average AISC of US$1,600/oz gold equivalent. At $3,000/oz gold and $35/oz silver, Summit delivers an after-tax NPV5 percent of US$105 million, with cumulative free cash flow of ~US$135 million over its mine life. The project is structured to be spun out into a standalone US-only gold-silver producer by Q4 2026, broadening investor appeal and potentially unlocking a higher valuation multiple.

The Banner Mill 240-tpd flotation facility 57 miles from the Summit mine

Exploration upside at Summit is significant. The Billali Zone, northwest of the main deposit, has returned historical intercepts including 681 g/t silver and 9.38 g/t gold over 4.4 m and hosts a 1992 historical resource of 288,000 tonnes grading 121 g/t silver and 3.67 g/t gold. The nearby Mohawk Area features a 2,000 ft IP anomaly with drill intercepts including 1.5 m at 437.5 g/t silver and 9.34 g/t gold at depth. Both zones remain open and underexplored, providing clear potential to extend mine life and scale production.

Summit’s restart and planned spin-out will give Golconda a second producing asset in a Tier 1 jurisdiction, diversify its commodity mix with silver exposure, and broaden its investor base, while maintaining the company’s no-dilution philosophy.

Management Team

Ravi Sood – Chairman and CEO

Ravi Sood has more than 25 years of experience in capital markets and operations. He is the founder and former CEO of Navina Asset Management, and director of Elemental Altus Royalties and Sparq Systems. He founded and/or co-founded multiple companies in mining, energy and renewables.

Andrew Bishop – Chief Financial Officer

A chartered accountant with more than 22 years of financial and mining experience in Africa and North America, Andrew Bishop brings strong financial discipline and operational insight to Golconda. He was previously with Aureus Mining, Avesoro Resources and Golden Star.

Wayne Hatton Jones – Chief Operating Officer

Wayne Hatton Jones is a mining professional with 38 years of experience in Africa, Asia and Europe. He previously worked at Goldridge, Avocet, Randgold and Harmony. His expertise includes mine development, metallurgy and operations.

This post appeared first on investingnews.com

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JD Vance says government likely ‘headed into a shutdown’ after Trump meets with Dems

Politics 5 Mins Read

Republican and Democratic congressional leaders left a meeting with President Donald Trump with no deal to avert a government shutdown as the deadline fast approaches. 

Leaders met with Trump on Monday for roughly an hour to negotiate a path forward to avert a partial government shutdown, but it appeared neither side was willing to budge from their position. 

Vice President JD Vance said after the meeting, ‘I think we’re headed into a shutdown because the Democrats won’t do the right thing. I hope they change their mind.’

‘If you look at the original they did with this negotiation, it was a $1.5 trillion spending package, basically saying the American people want to give massive amounts of money, hundreds of billions of dollars to illegal aliens for their health care, while Americans are struggling to pay their health care bills,’ Vance said. ‘That was their initial foray into this negotiation. We thought it was absurd.’

Democrats, however, have pushed back on assertions that they’re looking to salvage healthcare for anyone but the American people.

‘There was a frank and direct discussion with the President of the United States and Republican leaders. But significant and meaningful differences remain,’ Jeffries said. ‘Democrats are fighting to protect the health care of the American people, and we are not going to support a partisan Republican spending bill that continues to gut the health care of every day America, period.’

Congress has until midnight Oct. 1 to pass a short-term funding extension, or continuing resolution (CR), to avert a partial government shutdown. The House already passed a funding extension, but the bill was blocked in the Senate earlier this month. 

Republicans and the White House want to move forward with their ‘clean,’ short-term funding extension until Nov. 21, while Democrats have offered a counter-proposal that includes a permanent extension of expiring Obamacare tax credits and other wishlist items that are a bridge too far for the GOP. 

Vance appeared alongside Speaker Mike Johnson, R-La., Senate Majority Leader John Thune, R-S.D., and Office of Management and Budget (OMB) Director Russ Vought in a show of Republican unity after the meeting, but made clear both sides are still far apart.

Thune, holding up a copy of the funding extension, panned Jeffries and Schumer’s accusation that the bill was partisan in nature. 

Congressional Republicans argue that the House GOP’s is everything that Democrats pushed when they controlled the Senate: a ‘clean,’ short-term extension to Nov. 21 without partisan policy riders or spending, save for millions in new spending for increased security for lawmakers. 

‘To me, this is purely a hostage-taking exercise on the part of the Democrats,’ Thune said. ‘We are willing to sit down and work with them on some of the issues they want to talk about, whether it’s an extension of premium tax credits, with reforms, we’re happy to have that conversation. But as of right now, this is a hijacking.’

Neither Schumer nor Jeffries took questions after their remarks, but appeared slightly more optimistic than their GOP counterparts after the meeting concluded.

‘I think for the first time, the president heard our objections and heard why we needed a bipartisan bill,’ Schumer said. ‘Their bill has not one iota of Democratic input. That is never how we’ve done this before.’

Vance said he was ‘highly skeptical’ that it was Trump’s first time hearing the issue and said there was a bipartisan path forward on healthcare – but panned Democrats’ push to include an extension of COVID-19 pandemic-era Affordable Care Act (ACA) extensions in the bill.

‘We want to work across the aisle to make sure that people have access to good healthcare,’ he said, but added, ‘We are not going to let Democrats shut down the government and take a hostage unless we give them everything that they want. That’s not how the people’s government has ever worked.’

The meeting in the Oval Office comes after Trump canceled a previously scheduled confab last week with just Schumer and Jeffries. At the time, the president railed against their demands on his social media platform Truth Social and contended that congressional Democrats were pushing ‘radical Left policies that nobody voted for’ in their counter-CR. 

Democrats’ demands center on an extension to expiring Affordable Care Act subsidies, though their counter-proposal also included language to repeal the healthcare section of the GOP’s ‘big, beautiful bill’ and a clawback of canceled NPR and PBS funding. 

Senate Republicans have argued that Democrats’ desires are unserious, and Thune has publicly said that Republicans would be willing to have discussions on the ACA subsidies, which are set to sunset at the end of this year, after the government is funded. 

Schumer insisted Democrats needed it addressed immediately, however, in a press conference back on Capitol Hill after the meeting.

‘We think when they say later, they mean never. We have to do it now, first because of the timing issue and second, because now is the time we can get it done,’ he said.

The White House is also leveraging the threat of mass firings should the government shut down that go beyond the standard furloughing of nonessential employees. Still, Schumer and Senate Democrats have not buckled. 

The Senate is expected to vote again on the bill on Tuesday.

This post appeared first on FOX NEWS

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Federal judge blocks Voice of America mass terminations in scathing ruling against Lake

Politics 2 Mins Read

U.S. District Judge Royce Lamberth has blocked a new wave of terminations at Voice of America, offering harsh words for Kari Lake and saying the Trump administration’s conduct in his case would support civil contempt proceedings, if only the plaintiffs had asked.

In the 19-page ruling, Judge Lamberth halted the mass reduction in force at the U.S. Agency for Global Media (USAGM) and issued a warning that cuts would ‘cement’ VOA’s failure to meet legal obligations to provide reliable news.

Lamberth’s list of failures included statutory violations involving VOA shutting down mandated language services despite clear congressional directives.

He stated that VOA acknowledged its ‘radio presence’ had shrunk to a single 30-minute daily program in Dari and Pashto, leaving gaps in coverage for nations like North Korea and China.

Kari Lake was called out for admitting under oath that she hadn’t ‘given it a lot of thought’ whether Africa qualifies as a ‘significant region of the world’ under the law and confirmed VOA produces no programming for South America.

And Lamberth accused the Trump administration of misleading the court, going as far as to call it incredible to suggest the RIF was ‘uncertain’ while evidence showed it was already in motion.

The RIF notices covered both VOA and USAGM employees, and Lamberth rejected the government’s attempt to carve out non-VOA staff.

He accused Lake and her team of ‘thumbing their noses at Congress’s commands’ and showing ‘brazen disinterest’ in statutory duties — strong language worth including.

The contempt warning wasn’t just about tone; it was also tied to their failure to produce required documents about future RIFs, despite court orders.

Overall, the order keeps VOA’s workforce intact through Oct. 14, when Lake will be forced to work with her team to file a plan showing how they will restore the legally required programming.

The judge warned that their ‘disrespect’ for other rulings would have been enough to trigger a contempt trial.

‘Equity is allergic to rigidity,’ Lamberth wrote, pointing out the court’s power to stop executive overreach.

This post appeared first on FOX NEWS

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Trump, Democrats locked in endless cycles of payback after Comey indictment and targeting president’s enemies

Politics 8 Mins Read

Let’s roll back the clock.

After the 2020 election, Donald Trump found himself the target of multiple investigations.

The flimsiest, and most partisan, was brought by Manhattan DA Alvin Bragg, who somehow elevated the Stormy Daniels payoffs from a misdemeanor to a felony, and got a conviction.

Then there was Jack Smith, who launched two investigations — one involving classified documents, the other on allegations related to Jan. 6.

And in Georgia, Fulton County DA Fani Willis investigated Trump’s famous phone call to Brad Raffensperger — ‘I just want to find 11,780 votes’ — and some of Trump’s lawyers, such as Sidney Powell and Jenna Ellis, pleaded guilty.

Beyond that, New York AG Letitia James filed a civil suit about inflated property values that led to a fine that has since grown to half a billion dollars — a penalty so outrageous that an appeals court threw it out on grounds of cruel and unusual punishment.

And what was the mindset of the media, the Democrats and at least half the country at that time?

It was that Trump had done a lot of bad things, and if he could be successfully prosecuted before the 2024 election, he could be knocked out of the race. 

But from Trump’s point of view, these were bogus cases brought by biased prosecutors — James had won election by vowing to go after him — and backed by unfair judges for the sole purpose of keeping him out of the White House.

Joe Biden may have kept hands off — Jack Smith was named special counsel by AG Merrick Garland — but to the president it was all a grand left-wing conspiracy.

And that’s why Trump feels entitled to payback.

That’s why James Comey was just indicted, with Trump firing his own U.S. attorney who believed there wasn’t enough evidence, replacing him with a loyalist whose job was to charge the former FBI director.

That’s why Tish James is now under investigation for alleged mortgage fraud, 

That’s why the Trump DOJ has just subpoenaed Fani Willis’ travel records from last year, and is investigating Sen. Adam Schiff.

To Donald Trump, this is all fully justified payback.

But he’s doing exactly what was done to him — going after political enemies — and doing it out in the open. He has ordered Attorney General Pam Bondi to pursue these cases, and fast, which is weaponizing the Justice Department against those he despises, in a way that no previous president has ever done. 

He pronounces these targets ‘guilty as hell’ — that alone would be a scandal in any other administration for prejudicing a trial — and celebrates the unveiling of indictments, such as calling Comey a ‘sick person,’ a ‘Dirty Cop’ and a ‘SLIMEBALL.’

So how does Trump justify doing what was done to him? He doesn’t. He’s never been big on consistency. And his MAGA base supports him no matter what.

Keep in mind that the perjury allegation — based on a vague exchange about a leak to the Wall Street Journal about the Clinton Foundation, ironically — was investigated by special counsel John Durham in the first term, and by the DOJ’s inspector general, and neither brought charges.

When Erik Seibert, the U.S. attorney in Virginia’s Eastern District, found insufficient evidence to charge Comey, Bondi pushed back in defense of the 15-year veteran, Still, Trump replaced him with White House aide and onetime beauty queen Lindsey Halligan, his former lawyer, who has never tried a criminal case. Halligan couldn’t even find the courtroom, and no prosecutor in the office agreed to accompany her, as is customary. Doesn’t matter. She had one job.

‘My family and I have known for years that there are costs to standing up to Donald Trump,’ Comey said in a video.

Fourteen of the 23 grand jurors backed the two charges, just over the required minimum, and the jurors dismissed a proposed third count.

National Review’s Andy McCarthy, a former federal prosecutor, called the indictment ‘so ill-conceived and incompetently drafted, he should be able to get it thrown out on a pretrial motion to dismiss.’

Dan Abrams, ABC’s chief legal analyst (and founder of Mediaite) said on ‘This Week’: ‘I don’t even think that many in the Trump administration believe they’re going to get a conviction. I think that there’s a 95 percent-plus chance that there won’t be a conviction. That it’ll either get dismissed by a judge, there’ll be a hung jury, there’ll be an acquittal. But I’m not certain that that’s the end goal here.’ 

In other words, making Comey’s life miserable and forcing him to pay legal fees may be satisfying enough.

Schiff, for his part, called the mortgage fraud allegation against him ‘the kind of stuff you see tinpot dictators do.’ .

But there’s a larger issue here than the culpability of Comey and the others. As a former Justice Department reporter, I know all too well that presidents are not supposed to intervene in criminal investigations, and that dates to a series of post-Watergate reforms after Richard Nixon’s attorney general went to prison.

But Trump does all this out in the open. There’s no need to rely on unnamed sources. When he issued a memo demanding investigations of his foes, he made it public. 

‘We can’t delay any longer, it’s killing our reputation and credibility,’ the president wrote on Truth Social. He complained that ‘nothing is being done,’ demanding that Bondi investigate Coney, James and Schiff. And now he’s talking about targeting Democratic donor and activist George Soros.

The president also has a knack for letting his allies off the hook. After New York Mayor Eric Adams was indicted on corruption charges, Trump ordered the case dropped. Then he tried to lure Adams out of the race by offering him a job, to boost the chances of defeating the man he calls ‘Communist’ Zohran Mamdani. Adams, stuck in single digits, just dropped out, and don’t be surprised if he winds up as an ambassador.

When a deranged shooter in Michigan opened fire during a Mormon church service, and set the place on fire, killing at least four people, before being shot to death, Trump called it ‘horrendous’ and called Gov. Gretchen Whitmer. Press Secretary Karoline Leavitt said the killer hated Mormons.

The president called it ‘another targeted attack on Christians.’

What Trump and Leavitt neglected to mention is that the murderer has a Trump/Vance sign in front of his house.

So despite the president’s insistence that left-wingers are responsible for virtually all political violence, here’s a case where a right-winger, and Trump fan, is responsible for cold-blooded mass murder. But one day there will a Democrat in the White House again, ready to use the same tactics unleashed by Trump.

Dartmouth professor Brendan Nyhan, who heads a watchdog group, told the New York Times: ‘Do Republicans want to give President AOC unilateral powers to determine which Defense Department programs she wants to fund?’

His forthcoming report says ’50 percent of Democrats now support restricting or shutting down Fox News, up from 37 percent in 2021.’ I would find that chilling, even if I didn’t work at Fox. Where is it written that the government should be shutting down news outlets?

The larger point is this: Trump believes he’s entitled to payback because of all the indictments aimed at him. The Democrats believe Trump has shattered the wall that protected criminal probes from White House interference. And so we plunge into an endless cycle of retribution, with each administration investigating the previous one and justifying it as getting even for their own mistreatment. 

: The news conference that President Trump was going to hold with Bibi Netanyahu yesterday turned into a non-conference when Trump, of all people, refused to take questions — not even the traditional two from each side. So they each gave lengthy speeches and left.

But the president achieved something remarkable. He got Bibi to go along with his plan to end the war in Gaza. Trump even said he’d personally head a peace board designed to protect Israel’s security, that Hamas would release the remaining hostages, and mentioned Oct. 7.

Honestly, it was probably shrewd not to be distracted by questions.

Here’s the problem: Hamas hasn’t agreed to anything yet, and has stuck by its insistence on a complete withdrawal of Israeli forces before any hostages are released. So the terrorist group is unlikely to agree.

If Hamas rejects the plan, Netanyahu said, ‘Israel will finish the job by itself.’

Then he said, ‘we can do this the easy way or the hard way’ — apparently unaware that was the much-condemned line that FCC Chairman Brendan Carr used to threaten action against Jimmy Kimmel.

Bibi also demanded an end to ‘incitement by the media,’ as if he or anyone else could tell the press what to do.      

This post appeared first on FOX NEWS

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Politics

Trump admin targets $3.3B homeless housing program, 170,000 people could face return to streets: report

Politics 2 Mins Read

The Trump administration is looking to cut funding for a program that provides permanent housing to the homeless, a move that may leave those the program aims to help back on the streets, according to a report.

More than 170,000 people could be at risk of experiencing homelessness when more than half the funding for the Department of Housing and Urban Development’s (HUD) permanent housing program is cut, Politico reported on Monday, citing three HUD employees, internal HUD documents and a person with knowledge of the Continuum of Care (CoC) program.

The cut funds will be moved to transitional housing assistance with some work or service requirements, according to the internal documents and those with knowledge of the situation. The cuts could have a greater impact on rural areas that have less access to city and state funds to supplement federal dollars, the people told the outlet.

‘When the subsidy and the support that goes along with those subsidies is removed, it puts people at grave risk,’ said the person with inside knowledge of the CoC program. ‘And most of these folks without these supports will likely end up back in emergency shelters or back on our nation’s streets.’

HUD Secretary Scott Turner wrote in a  Fox News Digital opinion piecei earlier this month about a ‘paradigm shift’ in the department’s approach to homelessness and housing.

‘But our goal is to let HUD use real, proven effective strategies, and there is no evidence that giving free apartments to the homeless without preconditions or participation requirements – like job training or treatment – leads to good outcomes,’ Turner wrote. 

‘There is evidence, however, that countless lives have been lost to overdoses in HUD-funded housing because of this failed ideology,’ the secretary continued.

Turner wrote that HUD wants to continue to help support work that aims to aid those experiencing homelessness and battling addiction to recover and become self-sufficient.

Permanent housing funding for 2026 is currently $3.3 billion and could be cut in half to $1.1 billion through the Trump administration’s effort, according to Politico. 

This post appeared first on FOX NEWS

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Biden admin put some Americans who resisted mask mandates or were involved in Jan 6 on severe no-fly list: TSA

Politics 4 Mins Read

The Transportation Security Administration (TSA) and the Department of Homeland Security (DHS) uncovered that the Biden administration placed some Americans who resisted the COVID-19 mask mandate or were involved in the events of Jan 6, 2021, on prolonged TSA watchlists, including some on a no-fly list typically reserved for suspected terrorists.

Fox News Digital acquired the findings of an internal investigation conducted by the agencies that showed that then-President Joe Biden’s TSA initiated ‘Operation Freedom to Breathe’ in September 2021, roughly six months after the CDC relaxed the COVID-19 mask mandate, which targeted Americans who previously resisted mask mandates set forth by the Biden Administration. 

The initiative placed 19 Americans on various levels of intensive watchlists, with more than half added to the highest severity no-fly list, preventing them from boarding a flight in the U.S. entirely. Eleven of the individuals remained on watchlists until April 2022, when the national mask mandate was lifted by the Biden administration. 

‘Biden’s TSA Administrator [David] Pekoske and his cronies abused their authority and weaponized the federal government against the very people they were charged with protecting,’ Homeland Security Secretary Kristi Noem told Fox News Digital. 

‘Biden’s TSA wildly abused their authority, targeting Americans who posed no aviation security risk under the banner of political differences,’ Noem added. ‘President Trump promised to end the weaponization of government against the American people, and we are making good on that promise.’

Fox News Digital reached out to Pekoske, but did not receive a response.

The investigation also concluded that Biden’s TSA placed roughly 280 individuals allegedly involved in the Capitol protests on Jan 6, 2021, on watchlists, including five on a no-fly list. 

Biden’s TSA ignored internal concerns raised by career intelligence officials and TSA’s Chief Privacy Officer that placing individuals on the list ‘is clearly unrelated to transportation security,‘ and that ‘TSA is punishing people for the expression of their ideas when they haven’t been charged, let alone convicted of incitement or sedition,’ according to emails from a top privacy official at TSA dated Jan 13, 2021, obtained by Fox News Digital.

Another TSA intelligence employee also expressed worry over watchlisting individuals allegedly involved in the Capitol protest, saying most individuals who were arrested ‘are technically curfew breakers,’ and that ‘I hope we don’t end up adding them [to a watchlist] on just the arrest,’ according to an internal email obtained by Fox.

Internal emails said that TSA mainly relied on the George Washington University Program of Extremism academic database and social media, rather than traditional sources like the FBI and local police, to determine which individuals should be placed on watchlists.

One individual, a national guardsman deployed to the Capitol for Biden’s inauguration on Jan 20, 2021 and was not present at the Capitol on Jan 6, 2021, was added to a no-fly list because of bad intelligence from Biden’s FBI.

Another individual, the wife of a federal air marshal who was also not present at the Capitol on Jan 6, was added to a watchlist due to additional bad intelligence from the Biden FBI.

Americans allegedly involved with the events of Jan 6, 2021, who were not tied to unrelated, individual incidents, were removed from various watchlists on June, 28, 2021. 

A majority of Americans allegedly involved with the events of Jan 6, 2021, who were placed on watchlists were removed from them on June, 28, 2021, though some who had been charged remained watchlisted until they were cleared.

Sources at TSA say the Biden administration’s targeting of Americans is the most expansive use of putting U.S. citizens on a no-fly list in history. 

Noem told Fox News Digital that the agency will be ‘referring this case to the Department of Justice and for Congressional investigation.’

Preston Mizell is a writer with Fox News Digital covering breaking news. Story tips can be sent to Preston.Mizell@fox.com and on X @MizellPreston

This post appeared first on FOX NEWS

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Business

Trump says U.S. will impose new tariffs on heavy trucks, drugs and kitchen cabinets

Business 3 Mins Read

President Donald Trump on Thursday announced a new round of punishing tariffs, saying the United States will impose a 100% tariff on imported branded drugs, 25% tariff on imports of all heavy-duty trucks and 50% tariffs on kitchen cabinets.

Trump also said he would start charging a 30% tariff on upholstered furniture next week.

He said the new heavy-duty truck tariffs were to protect manufacturers from “unfair outside competition” and said the move would benefit companies such as Paccar-owned PCAR.O Peterbilt and Kenworth and Daimler Truck-owned DTGGe.DE Freightliner.

Trump has launched numerous national security probes into potential new tariffs on a wide variety of products.

He said the new tariffs on kitchen, bathroom and some furniture were because of huge levels of imports that were hurting local manufacturers.

“The reason for this is the large-scale ‘FLOODING’ of these products into the United States by other outside Countries,” Trump said, citing national security concerns about U.S. manufacturing.

The U.S. Chamber of Commerce urged the department not to impose new tariffs, noting the top five import sources are Mexico, Canada, Japan, Germany and Finland “all of which are allies or close partners of the United States posing no threat to U.S. national security.”

Mexico is the largest exporter of medium- and heavy-duty trucks to the United States. A study released in January said imports of those larger vehicles from Mexico have tripled since 2019.

Higher tariffs on commercial vehicles could put pressure on transportation costs just as Trump has vowed to reduce inflation, especially on consumer goods such as groceries.

Tariffs could also affect Chrysler-parent Stellantis STLAM.MI, which produces heavy-duty Ram trucks and commercial vans in Mexico. Sweden’s Volvo Group VOLVb.ST is building a $700 million heavy-truck factory in Monterrey, Mexico, set to start operations in 2026.

Mexico is home to 14 manufacturers and assemblers of buses, trucks, and tractor trucks, and two manufacturers of engines, according to the U.S. International Trade Administration.

The country is also the leading global exporter of tractor trucks, 95% of which are destined for the United States.

“We need our Truckers to be financially healthy and strong, for many reasons, but above all else, for National Security purposes!” Trump added.

Mexico opposed new tariffs, telling the Commerce Department in May that all Mexican trucks exported to the United States have on average 50% U.S. content, including diesel engines.

Last year, the United States imported almost $128 billion in heavy vehicle parts from Mexico, accounting for approximately 28% of total U.S. imports, Mexico said.

The Japanese Automobile Manufacturers Association also opposed new tariffs, saying Japanese companies have cut exports to the United States as they have boosted U.S. production of medium- and heavy-duty trucks.

This post appeared first on NBC NEWS

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Investing

Silo Wellness Submits CSE Listing Statement for Review of Born Defense Proposed Change of Business

Investing 4 Mins Read

Silo Wellness Inc. (CSE: SILO) (‘Silo’ or the ‘Company’), to be renamed Born Defense Inc., is pleased to announce that it has submitted its listing statement (the ‘Listing Statement’) with the Canadian Securities Exchange (the ‘CSE’) on September 26, 2025, for review in connection with its previously announced proposed change of business to an investment issuer focused on the defense and national security sectors.

The Listing Statement provides comprehensive disclosure regarding the Company’s business, assets, financial statements, management team, and strategic direction, and is a key step toward satisfying the CSE’s requirements for the resumption of trading of the Company’s common shares.

As previously disclosed, the Company intends to complete a name change to Born Defense Inc. and transition its primary business focus to defense innovation and national-security investments. Born’s strategy is grounded in Just War principles and the protection of individual liberty, a framework discussed at length in the Compony’s podcast interview with Dr. Eric Patterson, a leading scholar of the Just War tradition (‘Just War Doctrine with Dr. Eric Patterson,’ https://youtu.be/pBkZG9mZDMk). In that conversation, Dr. Patterson emphasized the classical criteria (legitimate authority, right intention, last resort, probability of success, proportionality, and discrimination) and how those ethics constrain power, guide deterrence, and inform responsible industrial stewardship. The submission of the Listing Statement is an important milestone in advancing this vision.

The Listing Statement also outlines recent measures undertaken by the Company to strengthen its financial position, including agreements to settle approximately CAD $4.4 million of debt through the issuance of common shares, significantly reducing liabilities and positioning the Company for its strategic transition. Upon CSE approval, this restructuring is expected to improve the balance sheet and align shareholder interests as the Company advances its change of business.

‘While this must go through the full regulatory process, I’m proud of how hard our team has worked to stabilize and strengthen the public vehicle by earning buy-in from creditors who have either agreed to convert their debt into shares or to middle- and long-term payment plans so initial financing can stretch further. I’m looking forward to feedback from the CSE on our business plan and intentions. Until then, we’ll prepare for the future with a steadfast goal of peace through strength. Now is the time to preserve civilization through strategic investment in the people trusted to responsibly steward these powerful defense technologies for the next generations.’ — Richard Craven, CEO, Born Defense

The Listing Statement will be made available on the Company’s profile on SEDAR+ once it has been accepted for filing by the CSE. Shareholders will also be provided with notice of any meeting required to approve the proposed change of business and related matters, in accordance with applicable securities laws and stock exchange requirements.

There can be no assurance as to the timing of completion of the CSE’s review process, the Company’s shareholder approval, or the resumption of trading of the Company’s securities.

About Born Defense

Silo Wellness (CSE: SILO) is a public company currently transitioning its operations into Born Defense Inc., a national security investment issuer committed to ethical defense finance guided by the Just War Doctrine. The company’s restructured business model centers on trade finance, strategic equity investments, and collateral-backed lending for pre-IPO and critical infrastructure ventures globally.

Contact Information

Mike Arnold, President
ir at borndefense (dot) com
541-359-3931
www.SiloWellness.com
www.BornDefense.com

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    Forward-Looking Statements

    This press release contains forward-looking statements under applicable securities laws. These statements relate to future events, financial performance, and operational expectations, including the objectives, prospective transaction, market conditions, and strategic plans.

    Forward-looking statements involve risks, uncertainties, and assumptions that may cause actual results to differ materially, including market conditions, regulatory changes, geopolitical factors, capital availability, and the timing and outcome of the CSE’s review of the Listing Statement. We undertake no obligation to update these statements except as required by law. Readers should not place undue reliance on forward-looking statements, which speak only as of their date.

    No Offer or Solicitation

    This press release is for informational purposes only and does not constitute an offer or solicitation to buy or sell securities. Any such offering will be made only in compliance with applicable laws and through authorized offering documents.

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268286

    News Provided by Newsfile via QuoteMedia

    This post appeared first on investingnews.com

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    Falco Resources

    Investing 12 Mins Read

    Investor Insight

    Falco Resources presents a compelling investment opportunity with its high-margin Horne 5 gold project, strong partnerships, and advancing path to construction in Quebec’s prolific Rouyn-Noranda mining camp.

    Overview

    Falco Resources (TSXV:FPC) is a Canadian company focused on developing gold and base metal projects in the Rouyn-Noranda region of Quebec. Rouyn-Noranda is an established mining camp with a long history of exploration and development. The Noranda mining camp has historically produced 19 million ounces (Moz) of gold and 2.9 billion pounds (Blbs) of copper, and yet it is still under-explored for gold.

    Falco’s principal property, Horne 5 project, holds 67,000 acres or nearly 67 percent of the total area of the entire mining camp and is located under the former Horne mine which produced 11.6 Moz of gold and 2.5 Blbs of copper. The 2021 feasibility study on the Horne 5 project suggests strong project economics with a total mine life of 15 years, after-tax NPV at 5 percent of US$761 million, and a payback period of 4.8 years, assuming gold prices at $1,600/oz. At the current gold prices of over $2,500/oz, the project economics will be even better.

    In 2024, significant milestones for the company include the operating lease and indemnity agreement (OLIA) with Glencore (LON:GLEN) and the Horne 5 project’s environmental impact assessment (EIA) admissibility. Falco Resources’ operating license and indemnity agreement (OLIA) with Glencore Canada will enable Falco to utilize a portion of Glencore’s lands. The agreement entails establishing a technical committee comprising two representatives from Glencore and two from Falco, tasked with safeguarding the uninterrupted operations of Glencore’s Horne copper smelter. Additionally, a parallel strategic committee will be formed. Glencore canl nominate one representative to join Falco’s board of directors.

    The successful completion of the OLIA, coupled with life-of-mine copper-zinc concentrate offtake agreements with Glencore, positions Falco to advance its Horne 5 project towards construction. The company is currently advancing with the permitting process for the project.

    Falco is continuing with the next steps related to obtaining government permits and financing for its Horne 5 project after the report filed by the Bureau d’audiences publiques sur l’environnement (BAPE). The BAPE examined the Falco Horne 5 mining project from a sustainable development perspective, requesting additional studies and analyses. More than 90 percent of the commission’s opinions related to the project have already been considered, planned or initiated.

    Company Highlights

    • Falco Resources is a Canadian explorer of base and precious metals focused on developing its mineral properties in the Rouyn-Noranda region in Quebec, Canada.
    • The company holds 67,000 acres of mining claims in the Rouyn-Noranda mining camp, accounting for nearly 67 percent of the entire mining camp.
    • Rouyn-Noranda has a long history of mining and exploration. The area has established infrastructure and has been host to 50 former producers, including 20 base metal mines and 30 gold mines.
    • Falco’s principal asset is the Horne 5 project which is a gold project with significant base metal by-products. It is located under the former Horne Mine which produced 11.6 Moz of gold and 2.5 billion pounds of copper from 1926 to 1976.
    • The Horne 5 is a world-class deposit containing 7.6 Moz gold equivalent in measured and indicated resources and 1.7 Moz gold equivalent in inferred resources, making it a top 5 gold development project in Canada by resource size.
    • The Horne 5 project represents a robust, high-margin, 15-year underground mining project with attractive economics. The 2021 feasibility study indicates after-tax NPV at 5 percent of US$761 million and after-tax IRR of 18.9 percent.
    • The operating lease and indemnity agreement (OLIA) with Glencore coupled with EIA admissibility receipt from the government body positions Falco to advance its Horne 5 project towards construction.

    Key Project

    Horne 5 Project

    The Horne 5 project is a world-class deposit located beneath the former Horne mine in the Rouyn -Noranda mining camp. Horne mine was operated by Noranda from 1926 to 1976 and produced 11.6 Moz of gold and 2.5 Blbs of copper. The Rouyn-Noranda mining camp has a rich exploration history having produced 19 Moz of gold and 2.9 Blbs of copper. The camp has hosted 50 producers including 20 base metal mines and 30 gold mines.

    The Horne 5 is a world-class deposit containing 6.1 Moz gold equivalent in proven and probable reserves, 7.6 Moz gold equivalent in measured and indicated resources, and 1.7 Moz gold equivalent in inferred resources making it a top 5 gold development project in Canada by resource size.

    The project boasts strong partners including Osisko Development, Osisko Gold Royalties, Glencore, and the Quebec Government. Osisko Development is a major shareholder in Falco Resources with a 16 percent stake, and the Quebec Government holds close to 7.5 percent stake in Falco.

    Aside from gold, Horne 5 has significant base metal by-products. As per the feasibility study, precious metals (gold + silver) account for 75.6 percent of the mining revenue, while base metals (copper and zinc), account for 24.3 percent of the total mine revenue.

    The 2021 updated feasibility study on the Horne 5 project indicates robust project economics. The feasibility study shows the project would generate an after-tax NPV at 5 percent of US$761 million and an after-tax IRR of 18.9 percent over the 15-year mine life. The production profile would average annual production of 220,300 oz gold over the life of the mine. Further, the study suggests significant copper and zinc by-product credits from the copper and zinc production, as well as the highly automated modern operations resulting in a low projected all-in sustaining cost (AISC) of $587/oz. Horne 5’s AISC is among the first quartile of global low-cost operations.

    Recent news flows including the OLIA with Glencore and the Horne 5 project’s EIA admissibility are significant milestones in the advancement of the project towards development.

    Falco Resources’ OLIA with Glencore Canada enables Falco to utilize a portion of Glencore’s lands. The agreement entails establishing a technical committee comprising two representatives from Glencore and two from Falco, tasked with safeguarding the uninterrupted operations of Glencore’s Horne copper smelter. Additionally, a parallel strategic committee will be formed. Glencore can nominate one representative to join Falco’s board of directors.

    The successful completion of OLIA coupled with life-of-mine copper-zinc concentrate offtake agreements with Glencore positions Falco to advance its Horne 5 project towards development. Further, the receipt of confirmation of the admissibility of its EIA for the Horne 5 project from the Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks is a significant milestone. It provides a path forward for the development of the project.

    Management Team

    Luc Lessard – President, Chief Executive Officer and Director

    Luc Lessard brings over 30 years of experience in the design, construction, and operation of mines. Before joining Falco, he held senior executive positions at Osisko Gold Royalties, Canadian Malartic GP (a joint venture of Agnico Eagle Mines and Yamana Gold), and Osisko Mining Corporation. At Osisko Mining Corporation, he oversaw the design, construction, and commissioning of the Canadian Malartic gold mine. Lessard has been involved in numerous surface and underground mining projects throughout his career. Lessard holds a bachelor’s degree in mining engineering from Laval University.

    Anthony Glavac – Chief Financial Officer

    Anthony Glavac has 25 years of experience in financial reporting, including over 15 years in the mining industry. Before joining Falco, he served as the director of financial reporting and internal controls at Dynacor Gold Mines and as the interim chief financial officer at Alderon Iron Ore. Glavac was previously the senior manager at KPMG, where he worked with a diverse portfolio of public and private companies, offering services such as audit, taxation, strategic advisory, and assistance with public offerings. Glavac is also engaged with other public companies within the mining sector.

    Helene Cartier – Vice-president Environment, Sustainable Development and Community Relations

    Helene Cartier possesses over 20 years of expertise in the environmental field. She began her mining career as part of the Cambior team before transitioning to the role of vice-president of environmental services and sustainable development at Osisko Mining. There, she played a pivotal role in the development and commissioning phases of the Canadian Malartic gold mine. She has served on the board of directors of several public and private companies.

    Mireille Tremblay – Vice-president Legal Affairs and Corporate Secretary

    Mireille Tremblay possesses more than 25 years of experience in business law, primarily in securities, mergers and acquisitions, corporate finance, and governance. Before joining Falco in January 2021 as the director of legal affairs, Tremblay served as a legal advisor to clients across diverse industries, including the mining sector. She advocated for companies and investors involved in mining transactions in Africa, notably during the construction of a gold mine in Burkina Faso and in negotiations with the Ivorian government. Additionally, she has represented numerous companies, underwriters, and investors in various contexts, including public offerings and private placement financings, both domestically and internationally. Tremblay holds a law degree from the University of Montreal.

    Mario Caron – Independent Chair

    Mario Caron is a mining executive with over 40 years of experience in the mining industry in senior executive and board positions. His experience was gained nationally and internationally in both underground and open pit operations. As CEO of public companies, he secured mining licenses and various permits in numerous jurisdictions. From 2016 to 2023, he was the Chairman of New Moly LLC. (formerly known as Alloycorp Mining), a privatized company since August 2016 with a molybdenum deposit in British Columbia. Caron received his Bachelor of Engineering, Mining at McGill University and is a retired member of the Association of Professional Engineers of Ontario and of the Ordre des ingénieurs du Québec.

    Alexander Dann – Non-independent Director

    Alexander Dann is a chartered professional accountant with over 30 years of experience leading financial operations and strategic planning for multinational public companies, primarily in the mining and manufacturing sectors. In February 2021, he was appointed chief financial officer and vice president, finance of Osisko Development. Before that, Dann served as chief financial officer of The Flowr Corporation from November 2017 to March 2020, where he successfully guided such corporation from a small private company to a TSX Venture Exchange publicly traded corporation. Prior to that, he was chief financial officer of Avion Gold and Era Resources until their acquisitions by Endeavour Mining Corporation and The Sentient Group, respectively. Dann also held senior finance roles with Falconbridge. (now part of Glencore Canada Corporation), Rio Algom Limited (now part of BHP Billiton) and Litens Automotive Partnership (a group within Magna International Inc.). Dann is the nominee of Osisko Development on the Corporation’s Board of Directors pursuant to the Investor Rights Agreement entered into between the Corporation and Osisko Development on November 27, 2020 (the “Investor Rights Agreement”). Dann obtained his Chartered Accountant designation in 1995 and holds a Bachelor’s degree in Business Administration from Université Laval in Québec City.

    Paola Farnesi – Independent Director

    Paola Farnesi is a senior financial professional with over 30 years of experience in corporate finance, financial reporting, M&A and risk management. She is currently vice president and treasurer of Domtar Corporation, responsible for negotiating and arranging $2.5 billion in corporate financings, overseeing an insurance portfolio of $50 billion in insurable values and managing the investments of pension fund assets of $8 billion. From 1994 to 2008, Farnesi held several other leadership positions at Domtar Corporation, including vice president of internal audit, where she was responsible for the implementation and subsequent compliance efforts related to Sarbanes-Oxley. Prior to joining Domtar Corporation, Farnesi worked at Ernst & Young for the assurance group in Montréal. Farnesi holds a Bachelor of Commerce and a Graduate degree in Public Accountancy from McGill University, is a member of the Chartered Professional Accountants of Québec and obtained the ICD.D designation from the Institute of Corporate Directors.

    Chantal Sorel – Independent Director

    Chantal Sorel is a corporate director. She has over 35 years of experience in general management with full profit and loss responsibility, project financing, project management, operations, strategic development, business development, mergers and acquisitions, in the industries of mining and metallurgy, power, infrastructure, industrial facilities, rail and transit. Sorel held the position of Vice President, Airport Infrastructures at Aéroports de Montréal from April 2023 to February 2024, after being an adviser to the airport from 2020 to 2023. Previously, she was executive vice president and managing director of capital at AtkinsRéalis (formerly known as the SNC-Lavalin Group) from 2016 to 2019 where she was responsible for the project financing and asset management of a $20 billion infrastructure and industrial asset portfolio. Sorel holds a degree in architecture from Université de Montréal and a master’s degree in project management from Université du Québec à Montréal and completed the Director Education Program jointly offered by the Institute of Corporate Directors, the McGill Executive Institute and the Rotman School of Management at the University of Toronto.

    Sean Roosen – Special Advisor

    Sean Roosen is a founder of Osisko Mining Corporation and played a central role in the discovery, financing, and development of the Canadian Malartic mine, one of Canada’s largest gold producers. He is currently executive chair and CEO of Osisko Development and previously served as founder, executive chair, and CEO of Osisko Gold Royalties. With more than 44 years of mining industry experience, he has been recognized globally for his leadership, including being named Mines and Money Americas’ “Best CEO in North America” (2017) and one of the “Top 20 Most Influential Individuals in Global Mining.” Roosen is a graduate of the Haileybury School of Mines.

    John Burzynski – Special Advisor

    John Burzynski is executive chair of Osisko Metals and former Chair, CEO, and director of Osisko Mining, where he led the discovery, development, and $2.2 billion sale of the Windfall gold project to Gold Fields Ltd. A co-founder of Osisko Mining Corporation, he was instrumental in the development and sale of the Canadian Malartic mine. With over 35 years of international mining experience, Burzynski has received multiple industry awards, including PDAC’s “Prospector of the Year” (2007, 2024) and the Northern Miner’s “Mining Man of the Year” (2009). He holds a B.Sc. (Honours) in geology from Mount Allison University and an M.Sc. in exploration and mineral economics from Queen’s University.

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