American Rare Earths Limited (ARR:AU) has announced ARR advances permitting at Cowboy State Mine
Download the PDF here.
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Challenger Gold Limited (ASX: CEL) (‘CEL’ or the ‘Company’) is pleased to announce it has entered into an Investment Protection Agreement (“IPA” or “the Agreement”) with the Government of Ecuador for its 100% owned El Guayabo Project (“El Guayabo” or “the Project”). Under the terms of the IPA, the Government of Ecuador has granted CEL legal protections including stability of the regulatory framework, resolution of disputes through international arbitration, and protection of CEL’s investment.
The IPA covers US$75 million in investment from CEL encompassing expenditures from CEL’s initial acquisition of the project in 2019 and expenditure incurred until the end of 2027. It has an initial term of 8 years and is renewable. Key incentives and protections under the IPA include:
- Regulatory stability and protection from changes to the current legal framework
- The legal framework at the time of execution will continue to apply if the terms are more favourable to the project owner than any potential new framework
- The IPA guarantees rights including non-discriminatory treatment, property protection, and legal certainty
- International arbitration, should there be any disputes in relation to the Project, with the seat of arbitration in London under the rules of the International Chamber of Commerce
Commenting on the Investment Protection Agreement, CEL Managing Director, Mr Kris Knauer, said
“The completion of the Investment Protection Agreement is a significant development for the Project..
The IPA provides certainty with respect to the legal framework governing the Project, including stable mining regulations and fiscal terms, and security of title and investment for the term of the agreement. Additionally, it provides protection from all forms of confiscation and a mechanism for international arbitration should there be any disputes related to the project.
The IPA is also timely given recent corporate action in Ecuador as we take steps to monetise our Ecuador assets following the significant resource upgrade from 4.5 million ounce1 to 9.1 million ounces1,2,3.‘
Click here for the full ASX Release
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McLaren Minerals Limited (ASX: MML) (‘McLaren’ or ‘Company’), is pleased to provide a further update on the phase 1 Drill Program at its wholly owned McLaren Titanium Project in the western Eucla Basin, Western Australia. This update is driven by the completion of geological interpretation of all the drilling during this campaign, in the absence of laboratory results.
Highlights
McLaren Titanium Project
- 192 drill holes completed for a total of 4,067 metres, on time and without incident
- Significant extensions of prospective sediments outside of currently known resource boundaries observed during drilling:
- North extension: approximately 2,200m wide, avg. 14m thick (max 23m),
- Central zone eastern extension: 800m wide, avg. 20m thick (max 23m),
- Southern zone: 2,600m wide, avg. 10m thick (max 15m).
- Metallurgical and geological samples submitted to IHC and Diamantina Laboratories
- Geological work has improved confidence in deposit morphology and is expected to reduce future drilling costs
- Strong community support confirmed within an established mining region
McLaren Mineral Sands Managing Director, Simon Finnis, commented:
“While we have not yet received any assays, phase 1 has delivered strong confidence to our team regarding this project. The most recent interpretation not only confirm the integrity of our geological model, but importantly, demonstrates the scale of the opportunity ahead. Defining substantial potential for mineralisation outside the current Resource boundary positions us well for future resource growth. We’ve also made solid ground operationally—drilling was completed on time, we’ve brought costs down, and we’re seeing strong local support. Taken together, these outcomes give us a great deal of confidence as we move toward the next phase of work and continue building long-term value for shareholders.”
Click here for the full ASX Release
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My main question going into this weekend was, “Will the S&P 500 finish the week above its 200-day moving average?” And while the S&P 500 did indeed finish the week above this long-term trend barometer, our main equity benchmark is now within the gap range from earlier this month.
We’ll get to that crucial S&P 500 chart a little later, but first, I’d like to explain why gaps matter, why the price action post-gap is so important, and then apply these lessons to the SPX.
The “Gap and Run” Scenario Suggests an Influx of Buyers
One of two things tends to happen after a gap higher within an uptrend phase. The first scenario, which I call a “gap and run” pattern, is when additional buyers come in to push the price even higher.
Microsoft Corp. (MSFT) features this gap and run pattern, with the gap higher on their Q1 earnings report followed by an additional appreciation in price. Basically, investors are not afraid to accumulate more MSFT, even after the stock gapped up from $395 to $430 overnight.
Did you catch our recent webcast, “Sell in May 2025: Seasonal Strategy or Outdated Myth?” We looked at the performance in May-June-July since the COVID low, then made a comparison between 2025 and the first half of 2022, when a break below the 200-day moving average was a sign of much further deterioration to come. Check out this excerpt on our YouTube channel!
Shares of Howmet Aerospace (HWM) demonstrated a similar gap and run pattern recently, although this example is perhaps even more significant because the gap took the price to a new all-time high! Again, we can see that additional buyers are coming in and accumulating more HWM, fueling further gains after the gap.
The “Gap and Fail” Pattern Shows a Lack of Willing Buyers
Sometimes, a chart will show a very different path after the gap, forming what I’ve termed a “gap and fail” pattern. Unlike the previous examples, here you’ll see that a lack of willing buyers causes the stock to quickly reverse lower into the range of the price gap.
In the case of semiconductor producer Monolithic Power Systems (MPWR), the gap higher earlier this month was followed by two additional up days, which propelled the stock above its 200-day moving average. This short-term pop higher was followed by a sudden downside reversal, representing an exhaustion of buyers after the upside gap.
First Solar (FSLR) is demonstrating a similar pattern to MPWR, with a gap higher which pushed the stock just above the 200-day moving average to test the 38.2% Fibonacci retracement level. A couple days later, FSLR was back below the 200-day moving average, followed by further deterioration that eventually closed the gap from earlier in May.
The S&P 500 Could Test Its Own Gap Support
So what do those example charts have to do with the S&P 500? Well, the SPX traded higher for about a week after the upside gap in early May. We’ve drawn a green-shaded range to highlight the gap from around 5725 to 5780. This gap includes the 200-day moving average and also lines up with the late March swing high.
I see the S&P 500 as in a constructive pattern as long as it remains above this price gap range. If we can see an upswing after this week’s pullback, then this could just be a pause within a broader recovery phase for the S&P.
On the other hand, if we see any further price weakness from the major benchmarks next week, then the chart of the S&P 500 will start to look pretty similar to other “gap and fail” charts that confirm a lack of willing buyers. If we do see that downside follow-through next week, we’d expect further deterioration to the 5500 level, representing a 50% retracement of the February to April selloff phase.
RR#6,
Dave
P.S. Ready to upgrade your investment process? Check out my free behavioral investing course!
David Keller, CMT
President and Chief Strategist
Sierra Alpha Research LLC
https://www.youtube.com/c/MarketMisbehavior
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.
The author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.
On Wednesday, only 4% of the S&P 500’s holdings logged gains — a pretty rare occurrence. Since the start of 2024, this has only happened three other times:
- August 5, 2024: The last day of the summer correction
- December 18, 2024: The Fed’s hawkish cut
- April 4, 2025: Tariffs
Let’s recall that major trading lows were etched last August, and again just a few weeks ago in early April. The S&P 500 ($SPX) dropped 10% and 21%, respectively, from its peak to trough both times, with the lows being marked by emphatic capitulation events (April 7 was the real pivot low). The market’s rubber band violently snapped back in the ensuing weeks, both times.
FIGURE 1. PAST LOWS IN THE S&P 500 INDEX. Note the rebounds following the August 5, December 18, and April 4 drops.With the SPX now having gained 20% from the April low, the setup is more like mid-December 2024. The index had just gained 19% from early August through early December and was hovering near 6,100. The FOMC’s actions put a major dent in the calm uptrend.
The S&P 500 didn’t completely crumble after that, spending the next 10 weeks backing and filling. But the market’s character changed, and the cracks eventually gave way to the waterfall decline.
So, what does that tell us about this moment? There’s a clear risk given the one-sided advance the last few weeks, but, with bullish patterns still in play and the $SPX having built up a big cushion, it can afford to back and fill again now. It’s the first gut punch in four weeks, and the market must prove it can absorb it.
Short-Term View of the S&P 500
The drawdown measured from this Monday’s high now stands at -2.4% — most of which happened on Wednesday. Given how small the moves have been over the last few weeks, Wednesday’s big decline hit the 14-period relative strength index (RSI) on the two-hour chart very hard. It’s now at 41, which is very close to the 30-oversold threshold.
Again, we’ve seen the short-term indicator fall to oversold territory several times, even during the market’s upswing from August through December. Seeing that happen again this time wouldn’t be a surprise. If it happens, it will be important to see the ensuing bounce pull the SPX back to overbought territory relatively soon. Remember, we went nearly four months between overbought readings from late January through mid-May.
FIGURE 2. TWO-HOUR CHART OF THE S&P 500 WITH RSI.
S&P 500 Patterns
Despite the sell-off, there was no change in the patterns at work. The two bullish patterns remain in play, with targets of 6,125 and 6,555, respectively. The S&P 500 started Thursday, at about 2.5% above the last breakout zone (5,695).
FIGURE 3. DAILY CHART OF THE S&P 500 WITH BULLISH PATTERNS. Here you see the pattern with a 6,125 target.
FIGURE 4. DAILY CHART OF S&P 500 WITH 6,555 PRICE TARGET.
Monitor the VIX
Not surprisingly, the Cboe Volatility Index ($VIX) gained 15% on Wednesday in response to the market’s sell-off. It remains close to 20, but continues to log higher lows, which has been the trend since late 2024. Indeed, it’s way off spike highs from April, but it’s a trend worth watching.
Let’s recall that the VIX never truly capitulated in 2022, but its trend of higher lows coincided with the equity market’s downtrend. When the SPX logged a true low in October 2022, lower lows in the VIX became evident. This lasted through this past summer.
If the snapback in the SPX turns into a longer, new uptrend, the VIX’s uptrend will morph into a downtrend again.
FIGURE 5. WEEKLY CHART OF THE CBOE VOLATILITY INDEX ($VIX).
Bonds Display Bullish Patterns
The bullish pattern in the weekly 30-Year Treasury yields and 10-Year Treasury yields is crystal clear. An acceleration through the 2023 highs after Wednesday would have an obvious negative effect on stocks.
As discussed before, the equity market has shown it can advance with higher rates, as long as said rates go higher gradually. The intermittent up-moves in rates have been capped for the last two years as well. Thus, stocks have been able to withstand it. That wasn’t the case from January to September 2022, and that’s the potential concern.
FIGURE 6. WEEKLY CHART OF THE 30-YEAR US TRASURY YIELD INDEX.
FIGURE 7. WEEKLY CHART OF THE 10-YEAR US TREASURY YIELD INDEX.
Bitcoin Holding Strong
So far, Bitcoin has maintained noticeable relative strength even as stocks got hit hard on Wednesday. Simply put, continuing to hold above this breakout zone would keep the new measured move target of 142k in play.
FIGURE 8. WEEKLY CHART OF $BTCUSD WITH ITS MEASURED MOVE TARGET.
From another perspective, this move can also be viewed as the fourth wedge breakout since 2023. The prior three times, BTC’s 14-week RSI stayed very overbought for weeks before slowing down. The 14-week RSI is just approaching overbought levels, which suggests it has further to go.
FIGURE 9. WEEKLY CHART OF $BTCUSD WITH WEDGE BREAKOUTS AND RSI.
Despite assurances from Trump administration officials that farmers will not be impacted by its attempts to reduce environmental chemical exposure from foods, agricultural leaders have been expressing concern that the move will explode costs for farmers and more than double the cost of food.
The administration’s Make America Healthy Again (MAHA) Commission, made up of many of President Donald Trump’s political appointees and closest policy advisors, released an assessment strategizing how they will tackle childhood chronic diseases, such as obesity and mental health challenges. Part of the report’s focus is on children’s chemical exposure from our foods, which the report says is linked to developmental issues and chronic diseases.
Amid the report’s release, farm groups have expressed concern over the MAHA agenda’s focus on pesticides. They have said that if the administration starts clamping down on widely used pesticides, crop yields would decline, input costs would surge and food costs would more than double.
‘Farmers are already facing a host of challenges—uncertainty about their access to critical crop protection products shouldn’t be added to the list,’ said Elizabeth Burns-Thompson, Executive Director of the Modern Ag Alliance. ‘Crop protection tools are not only safe, they are essential to food security, affordability, and the survival of family farms all across this country. Losing access to these critical inputs would be a devastating setback to American agriculture.’
Officials from the MAHA Commission sought to reassure farmers at an event releasing their assessment on childhood chronic diseases on Thursday. Agriculture Secretary Brooke Rollins said that ‘at the center’ of the MAHA agenda is ‘making American agriculture great again.’
‘We love our farmers, and we want to pay respect to our farmers. And we always will,’ President Trump added at the Thursday event from the White House. ‘We won the farmers by a lot in the election, and every election, all three elections – and we won by a lot. I will never forget that. And they are foremost in our thought.’
But some farmers are still expressing concern.
‘The Make America Healthy Again Report is filled with fear-based rather than science-based information about pesticides. We are deeply troubled that claims of this magnitude are being made without any scientific basis or regard for a long history of EPA expert evaluations of these products,’ the National Corn Grower’s Alliance (NCGA) said. ‘We call on the administration to respect the existing body of science on pesticides and, moving forward, to include America’s farmers in discussion as this process evolves.’
According to a statement put out by the Modern Ag Alliance, pesticides are ‘rigorously tested’ by the federal government, noting that in the case of glyphosate – mentioned multiple times in the MAHA report – it is one of the most thoroughly studied pesticides of its kind.
They said that if the MAHA report drives future policy decisions it would hurt farmers and more than double the cost of food.
‘Without glyphosate—the most widely used weed-fighting tool by U.S. farmers—crop yields would decline, input costs would surge by 150%, and food inflation would more than double,’ the group said. ‘When Sri Lanka prohibited the use of synthetic pesticides and fertilizers in 2021, crop yields fell by over 50%, forcing the government to import massive amounts of food just to meet basic needs. We should be focused on moving American agriculture—and the country—forward.’
Health Secretary Robert F. Kennedy Jr., who has been a vocal opponent against the dangerous health impacts of under-regulated pesticides even before he was the MAHA Commission’s leader, said last week in a Senate hearing that ‘we cannot take any step that will put a single farmer in this country out of business.’
‘There’s a million farmers who rely on glyphosate,’ he said. ‘100% of corn in this country relies on glyphosate. We are not going to do anything to jeopardize that business model.’
The MAHA report reiterates the economic importance of protecting farmers, but it also lists glyphosate in an infographic of ‘Chemical Classes and Common Exposure Pathways’ and says research studies have shown it can cause a range of health effects. It also lists atrazine and other chemicals as dangerous to childhood health.
MAHA Commission officials have said that part of the administration’s focus will be a return to the gold standard of science, but the NCGA said the focus on certain widely-used pesticides, such as atrazine and glyphosate, goes against ‘decades of extensive research and testing.’
‘If the administration’s goal is to bring more efficiency to government, then why is the secretary of Health and Human Services duplicating efforts by raising questions about pesticides that have been answered repeatedly through research and reviews by federal regulatory bodies?’ the group questioned.
Jennifer Galardi, a senior policy analyst focused on health and wellness issues at the Heritage Foundation, took a more balanced view of the MAHA commission’s strategy towards pesticides like glyphosate, noting that it appeared to thread the needle between supporting farmers and trying to ensure America’s food supply is safe and free of chemicals that could impact child health.
‘The MAHA Commission Report seems to carefully examine competing issues in a very complex agricultural debate: the potential that crop protection tools as they’re referred to in the report may cause adverse health outcomes and the desire to protect the economic interests of farmers and the country,’ Galardi said. ‘However, everyone should agree that the companies that manufacture products such as glyphosate and GMO’s shouldn’t have undue influence over the research upon which sound policy is based. The American public should demand transparency around these decisions.’
Galardi posited that, due to the tension around the issue of pesticides, the MAHA Commission may decide to go after ‘low-hanging fruit,’ such as improving children’s diets and lack of physical activity, which, she said, are big drivers of obesity and metabolic dysfunction.
In response to this article, a USDA spokesperson sent the following statement from Secretary Rollins:
‘We must do more to improve the health outcomes of our kids and families, and President Trump knows agriculture is at the heart of the solution. America’s farmers and ranchers dedicate their lives to the noble cause of feeding their country and the world, and in doing so have created the safest and most abundant and affordable food supply in the world. We are working to make sure our kids and families are consuming the healthiest food we produce. I look forward to continuing to work with Secretary Kennedy and other members of the MAHA Commission to improve our nation’s health.’
White House spokesman Kush Desai, in a separate statement, echoed Rollins’ sentiment about the importance of agriculture and farmers when it comes to executing the MAHA mission. He also reiterated that the MAHA movement is grounded in ‘Gold Standard of Science.’
‘The guiding principle of President Trump’s movement to Make America Healthy Again is the Gold Standard of Science, and everyone from America’s farmers to everyday parents are critical for the success of this movement,’ Desai said. ‘The MAHA Commission’s report is a historic step by our government to, for the first time, comprehensively review the latest evidence and research of what we know – and what we don’t know – is driving the health crisis afflicting America’s children.’
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Rep. Joe Wilson, R-S.C., called Russian President Vladimir Putin ‘crazy,’ expressing support for Ukraine and advocating for ‘Secondary sanctions & arms support NOW.’
‘I agree with President Trump, war criminal Putin is crazy. The civilized world will not sit by for Putin’s imperial tantrum at the cost of more children’s lives. Secondary sanctions & arms support NOW. Grateful to stand with Ukraine as they continue to repel this unprovoked INVASION and work for peace in their homeland,’ Wilson wrote on X on Monday.
President Donald Trump asserted in a Sunday night Truth Social post that Russian President Vladimir Putin had ‘gone absolutely CRAZY!’ and is ‘needlessly killing’ many people.
Trump, who has been aiming to help bring an end to the Russia-Ukraine war, blasted Ukrainian President Volodymyr Zelenskyy in the post as well, declaring, ‘Everything out of his mouth causes problems, I don’t like it, and it better stop.’
In a Monday night post on X, Sen. Chuck Grassley, R-Iowa, urged President Trump to act.
‘I’ve had enuf of Putin killing innocent ppl. Pres Trump Take action AT LEAST SANCTIONS,’ Grassley said in the post.
A massive bipartisan coalition of U.S. senators is supporting a proposed sanctions measure. Grassley is an original cosponsor on the Senate measure and Wilson is an original cosponsor on the House edition.
Zelenskyy is also advocating for sanctions.
‘New and strong sanctions against Russia — from the United States, from Europe, and from all those around the world who seek peace — will serve as a guaranteed means of forcing Russia not only to cease fire, but also to show respect,’ Zelenskyy declared Monday in a post on X.
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King Charles III arrived in Canada on Monday for a symbolic visit showing support for the country, which recognizes him as its sovereign, amid U.S. President Donald Trump’s threats to acquire the North American nation as the 51st U.S. state.
Charles and his wife Queen Camilla landed at Ottawa Airport in Ontario, where the king met on the tarmac with Canadian Prime Minister Mark Carney and Governor General Mary Simon, the king’s representative in Canada. The king later held separate meetings with Carney and Simon.
Charles, 76, has kept a limited schedule while undergoing cancer treatment. His two-trip to Canada signals a strong commitment to the country, which is one of 15 nations where he is monarch.
This is Charles’ first visit to the former British colony since becoming king in September 2022.
The king accepted an invitation from Carney to open Parliament on Tuesday – the first time a British monarch has carried out the duty since his mother, the late Queen Elizabeth, 68 years ago.
Carney invited Charles to Canada after Trump repeatedly suggested he wanted to annex the country, an idea fiercely rebuked by the prime minister, who secured an election win last month in part due to Canadians’ disapproval of Trump’s wish to make the country part of the U.S.
‘The prime minister has made it clear that Canada is not for sale now, is not for sale ever,’ Canada’s envoy to the U.K., Ralph Goodale, told reporters during a visit last week by Charles to Canada’s high commission in London.
‘The king, as head of state, will reinforce the power and the strength of that message,’ Goodale added.
Earlier this month, Carney told Trump that Canada is ‘not for sale’ and ‘won’t be for sale, ever’ during a meeting at the White House.
Charles has made subtle signals showing his support for Canada in recent months by wearing Canadian medals, calling himself the king of Canada and describing the country’s flag as ‘a symbol that never fails to elicit a sense of pride and admiration.’
The king now must perform a tricky balancing act as British Prime Minister Keir Starmer is attempting to reach favorable outcomes with Trump over trade and the war in Ukraine.
When Starmer visited the White House in February, he delivered Trump an invitation from Charles for an unprecedented second state visit for the U.S. president, who has repeatedly praised the royal family.
Carney, however, said that gesture had upset Canadians.
Reuters contributed to this report.
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Consensus 2025 discussions highlighted the rapid growth and evolving landscape of decentralized finance (DeFi).
Panels centered on the adoption of decentralized exchanges, the surge in stablecoin usage, the growing interest in tokenizing real-world assets and the momentum around possible yield-generating protocols.
These discussions took place against the backdrop of a Bitcoin price rally as the GENIUS Act made its way through Congress in the US. But perhaps the clearest signal of crypto’s next phase came from the caliber of attendees, which included regulators, government officials, representatives from major banks and blue-chip companies.
Coinbase Global’s (NASDAQ:COIN) inclusion in the S&P 500 (INDEXSP:.INX)), Circle’s pending initial public offering, Robinhood Markets’ (NASDAQ:HOOD) acquisition of WonderFi and a wave of product launches all reinforced a shared theme across the event: crypto is no longer on the fringe — it’s entering its mainstream era.
The digital shift
Panelists at Consensus were aligned on one thing: technologies like tokenization and stablecoins are becoming essential infrastructure for modern finance. Across multiple panels, speakers emphasized how these tools are reshaping everything from cross-border and bond coupon payments to capital markets.
Ripple’s Jack McLeod and Mark Greenberg of Kraken reinforced this narrative, predicting that future financial systems will likely center on digital assets. In their view, banks will need to position themselves to issue or integrate stablecoins in order to remain competitive in a digitally native financial system.
“The success of tokenized money market funds and treasuries in the last 18 months has been phenomenal,” he said.
In a standout session on bridging traditional finance (TradFi) and DeFi, Connexus Digital Assets’ Cherie Bucha revealed that the company has processed over US$2 trillion in tokenized volume to date, while WisdomTree’s Maredith Hannon touted a suite of 13 tokenized products already live on two platforms.
Yet speakers at Consensus also acknowledged the regulatory and technological complexity of this evolution, from compliance to interoperability across platforms.
“In the traditional world, whatever you tokenize, you want to be able to use it as collateral,” said Baehr.
“If I’m an institution and I’m trading with a derivatives exchange, or I’m trading bilaterally with an OTC dealer, and I have to post collateral, sometimes I want that collateral to be US dollar-based, but I definitely want it to be working for me, right? And I can’t with stablecoins, but I can with tokenized treasuries or money market funds. What the DeFi world is looking to do is expand that further and be able to have pools of liquidity on anything.”
Canadian businessman Kevin O’Leary and Dean Skurka of WonderFi framed stablecoins as a foundational layer of the “next chapter” for cryptocurrencies after the passing of the GENIUS Act. O’Leary also offered a sharp reminder: outside of Bitcoin, assets hoping to endure must provide tangible utility.
In a similar vein, during a panel on yield-bearing stablecoins, backed by instruments like US Treasuries or hedge fund shares, speakers described how these next-generation assets are gaining traction, though they currently represent just 2 to 3 percent of the US$250 billion stablecoin market.
How yield is fueling investment
While stablecoins were explored at Consensus, they were just one aspect of a broader trend toward yield-generating digital assets that participants honed in on at the event. Panelists also led discussions around the integration of DeFi into traditional systems to help investors pursue returns through staking and futures.
Grayscale’s global head of exchange-traded funds (ETFs), Dave Lavalle, said interest from wealth managers is rising as the US Securities and Exchange Commission (SEC) loosens its stance on digital assets.
Financial advisors now face a risk if they lack a crypto strategy.
“I think we’ve had 6,000 (credible) conversations with financial advisors this year about exactly how to talk to clients about incorporating crypto into their portfolios. It starts with Bitcoin,” he said.
Lavalle added that discussions have now shifted to exploring more sophisticated strategies for integrating crypto into portfolios and examining opportunities for yield generation.
Bitcoin’s evolution to a yield-generating asset was touched on during a panel that was led by James Van Straten and featured Babylon’s head of business development, Clayton Menzel, among others.
Babylon’s Layer 1 proof-of-stake blockchain, the Babylon Genesis mainnet, officially launched on April 10, and it allows Bitcoin holders to earn $BABY tokens by staking Bitcoin.
Grayscale and other asset managers have filed to amend their Ethereum ETFs to allow staking and unlock investor returns, with Grayscale expecting a decision from the SEC by July.
Staking in ETFs has already been approved in other markets. Lorien Gable and Pascal St. Jean illustrated how the Ontario Securities Commission’s proactive stance made Canada the first country to approve a Solana spot ETF with staking. The 50/50 demand split between the US and Canadian markets highlights a clear appetite for crypto yield.
Beyond these topics, discussions at Consensus also touched on how liquidity provision in decentralized exchanges and perpetual futures offers diverse avenues for digital asset yield.
On the “Is Wall Street ready for Institutional DeFi?” panel, participants said they see yield generation as a long-term opportunity, with growth anticipated from tokenized underlying assets and more sophisticated DeFi protocols.
Blue Macellari, head of digital assets at T. Rowe Price (NASDAQ:TROW), elaborated on this vision: “From an asset management perspective, I can be both an issuer of a tokenized fund, but I am also a buyer or consumer of a tokenized underlying security, a tokenized stock, a tokenized bond, and I think the next level of unlock is when we really have tokenized underlying securities, because then we have both pieces moving at the speed of blockchain.”
The industry still has work to do. Speakers at a panel moderated by Beahr unpacked the challenges still facing DeFi, emphasizing the need for clearer communication, risk management and user education.
What’s called “yield” in crypto can come from different sources, each presenting different risks.
“Clarifying all that, knowing what investors expect when they hold an asset, but also being very clear about what an exchange or protocol or service is going to offer as yield … is a job that the industry has to do much better. It was done really poorly before. I think it’s still a little fast and loose, and it needs to tighten up,” he said, adding that there is no connection between traditional yield benchmarks and how crypto yields function.
Creating crypto-native yield curves could help bridge that gap.
Regulator conversations shaping crypto’s future
Throughout discussions at Consensus, regulation was the unifying thread.
Speakers noted the pros and cons of Canada’s unique approach of classifying crypto contracts as securities.
“I think the pro is definitely more regulatory clarity than we’ve seen in some other jurisdictions … but a big disadvantage of it is a lack of flexibility and the room for experimentation. And also, there are a lot of areas in the space that I don’t think fit nicely into that framework,” said Morva Rohani, executive director of Canada’s Web3 Council.
She presented stablecoins as an example.
“I think regulators have done a great job at being very pragmatic, but I think right now is the time to have a second look and say who else within our regulatory parameter … needs to step up, or do we need more bespoke frameworks for certain things, versus just trying to fit things in places that they may not necessarily work,’ Rohani added.
Via a pre-recorded interview, US Congressman French Hill spoke about the developing progress of a market structure bill and pending stablecoin legislation, which was working its way through Congress as Consensus unfolded.
Hill emphasized bipartisan support and the goal of facilitating digital asset activities.
Bo Hines from the President’s Council of Advisors on Digital Assets also spoke on the topic of legislative progress, detailing current efforts from the US administration, including the Genesis Act and interagency collaboration, while addressing concerns about potential conflicts of interest.
Together, these conversations painted a complex picture of the ongoing efforts to establish a robust and effective regulatory framework for the crypto industry.
Investor takeaway
Consensus made it clear that the digital asset space has moved beyond its nascent stage.
As TradFi integrates with DeFi and technological advancements continue to evolve, cryptocurrencies will become an even more integral part of the global financial ecosystem.
The insights and dialogues at Consensus highlight a pivotal moment in the industry’s history, pointing toward a future where digital assets play a central role in shaping how we transact, invest and manage our financial lives.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (‘Skyharbour’ or the ‘Company’) is pleased to announce that partner company Mustang Energy Corp. (‘Mustang’) has commenced its 2025 field exploration program at the 914W Uranium Project (the ‘Project’), located in Athabasca Basin region. Mustang Energy may acquire a 75% interest in the Project by issuing common shares having an aggregate value of CAD $480,000, making aggregate cash payments of $275,000 to Skyharbour, and incurring an aggregate of $800,000 in exploration expenditures on the property over a three-year period.
914W Property Map:
https://skyharbourltd.com/_resources/projects/914W-image2.jpg
The field program at the Project will involve surface prospecting activities, including detailed rock and soil sampling, aimed at identifying zones of mineralization and alteration across target areas. Results from this phase of exploration are expected to inform further exploration efforts, including geophysical surveys and drilling in future phases. The program marks a step forward in Mustang’s strategy to advance projects through systematic exploration.
‘We’re excited to launch our first field program of the summer at 914W.’ said Nick Luksha CEO of Mustang Energy Corp. ‘The project area has encouraging geological features, and our upcoming work is designed to generate meaningful results that will guide the next phases of exploration.’
914W Property Summary:
The 914W Project consists of one claim covering 1,260 hectares approximately 48 km southwest of Cameco’s Key Lake Operation. Highway 914 runs through the western edge of the project, providing excellent access for exploration. Historical geological mapping of the property and the surrounding area has shown that the project is predominantly underlain by prospective Wollaston Supergroup pelitic and psammitic to arkosic gneisses of the Western Wollaston Domain, which hosts significant unconformity-related uranium mineralization in the Athabasca Basin as well as pegmatite-hosted uranium mineralization elsewhere in the Wollaston Domain.
Despite the project’s proximity to Highway 914 and prospective geology, the project has seen limited modern exploration work. The earliest work on the 914W property included airborne EM and magnetic surveys and ground geological reconnaissance in 1968-1970, lake water and sediment sampling in 1976, ground VLF-EM, magnetic, and radiometric surveys, geological mapping, trenching, as well as sampling on the project and surrounding areas. Immediately to the north of the 914W property, prospecting led to the discovery of the Scurry Rainbow Zone E (SMDI1961) and the Don Lake Trenches (SMDI 1983), where up to 1,288 ppm U was encountered in drill hole ML-1 (SMDI1961) in a pyroxene-rich unit, and surface prospecting revealed up to 0.64% U 3 O 8 in a trench at Don Lake Zone E (SMDI 1983). More recently, the project has seen airborne geophysical coverage by helicopter-borne VTEM (southern half) in 2005 and Tempest TDEM (northern half) in 2007, with prospecting, geological mapping, rock/sediment sampling and lake sediment sampling occurring on the project and surrounding areas in 2005-2007. The project remains underexplored and prospective for unconformity-related and pegmatite-hosted uranium and REE’s.
Qualified Person:
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Serdar Donmez, P.Geo., a Consulting Geologist for Skyharbour as well as a Qualified Person.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with interest in thirty-six projects covering over 614,000 hectares (over 1.5 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project, which is located 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization in several zones at the Maverick Corridor. Adjacent to the Moore Project is the Russell Lake Uranium Project, in which Skyharbour is operator with joint-venture partner RTEC. The project hosts widespread uranium mineralization in drill intercepts over a large property area with exploration upside potential. The Company is actively advancing these projects through exploration and drilling programs.
Skyharbour also has joint ventures with industry leader Orano Canada Inc., Azincourt Energy, and Thunderbird Resources at the Preston, East Preston, and Hook Lake Projects, respectively. The Company also has several active earn-in option partners, including CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Hatchet Uranium at the Highway Project; CSE-listed Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy at the South Falcon East Project. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to over $36 million in partner-funded exploration expenditures, over $20 million worth of shares being issued, and $14 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.
Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2024-11-21_v1.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .
Skyharbour Resources Ltd.
‘Jordan Trimble’
__________________________________
Jordan Trimble
President and CEO
For further information contact myself or:
Nicholas Coltura
Investor Relations Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act’) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
This release includes certain statements that may be deemed to be ‘forward-looking statements’. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
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