Blackstone Minerals (BSX:AU) has announced Blackstone Minerals – Investor Presentation – February 2025
Download the PDF here.
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Stardust Power (NASDAQ:SDST) shares rose as high as US$1.20 on Monday (February 3) after the announcement of a non-binding offtake agreement with Sumitomo Corporation of Americas.
It outlines a potential long-term supply deal for lithium carbonate from Stardust’s refinery in Oklahoma, US.
According to a Form 8-K filing with the US Securities and Exchange Commission, the companies have signed a letter of intent for the supply of 20,000 metric tons of lithium carbonate annually from Stardust’s first production line.
There is the possibility to increase the amount to 25,000 metric tons.
Under the proposed terms, Sumitomo would commit to purchasing lithium carbonate at prices based on market rates published by Fastmarkets, or another mutually recognized price-reporting agency. The deal also includes provisions that would allow the parties to adjust pricing as necessary to accommodate specific customers.
The agreement is structured for an initial term of 10 years, with an option to extend for an additional five years.
Additionally, before Stardust’s lithium product reaches battery-grade qualification for end users, Sumitomo would purchase technical-grade lithium at agreed annual volumes or in amounts equivalent to Stardust’s production capacity.
These purchases would also be priced according to prevailing market rates.
The agreement further outlines joint marketing efforts to promote Stardust’s lithium carbonate. Sumitomo has committed to conducting minimum marketing activities, with specific obligations to be determined in the final contract.
The transaction remains non-binding, with both parties working toward a definitive offtake agreement. The agreement comes as Stardust advances construction of its US$1.2 billion lithium refinery at the Southside Industrial Park.
The company recently broke ground on the facility, which will be among the largest lithium-refining operations in the US.
Once operational, the refinery’s first production line will have the capacity to produce 25,000 metric tons of lithium carbonate per year, with a planned second line doubling capacity to 50,000 metric tons. Output is expected to support growing demand for lithium in battery manufacturing, particularly for electric vehicles and energy storage.
Stardust acquired the 66 acre site near the Port of Muskogee in December 2024. The company selected the location following an independent environmental assessment in 2023, which determined the site’s suitability for lithium refining.
The project has received support from local and state officials, who view it as a key part of the region’s economic development strategy.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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‘This is a very dangerous time. I mean, it’s extremely dangerous, whether you’re in the market or you’re wondering what to do,’ she said on the sidelines of the Vancouver Resource Investment Conference.
‘You’ve got to get to safety. And safety is sound money — physical silver, physical gold. They have different functions, but for me this is a battle royale. I’m going to the sidelines, I’ve got my safety net.’
Zang also outlined how she’s approaching the other core tenets she’s focused on: food, water, energy, security, barterability, shelter and community.
Watch the interview above for more of her thoughts on those topics. You can also click here to view our Vancouver Resource Investment Conference playlist on YouTube.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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Andy Schectman, president of Miles Franklin, outlined his latest thoughts on the BRICS nations, sharing his thoughts on whether the bloc’s plans will be affected by Donald Trump’s return.
‘So no, this will not stop their drive to accumulate gold and to lessen their dependence on the dollar.’
Schectman also noted that gold and silver are still underowned in the US, and explained what could trigger more buying. In his view, it could take an event as significant as a major bank bail-in.
Watch the interview above for more on what Schectman sees coming in 2025, as well as how to position. You can also click here to view our Vancouver Resource Investment Conference playlist on YouTube.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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Arizona Lithium Limited (ASX: AZL, AZLO, OTC: AZLAF) (“Arizona Lithium”, “AZL” or “the Company”), a company focused on the sustainable development of two large lithium development projects in North America, the Prairie Lithium Project (“Prairie”) and the Big Sandy Lithium Project (“Big Sandy”), is pleased to provide a progress update for the commercial scale proof of concept facility at Pad #1 and further outlay the development plan for the Prairie Project. The Prairie Project will be put into production across three phases of development. Phases I, II, and III represent the methodical steps being taken to cost-effectively bring the project into production while minimising the risk associated with commercialising a first-of-its-kind process.
HIGHLIGHTS
- Updated strategic phased development plan has been implemented for the Prairie Lithium Project.
- Phase I will see the Prairie Lithium Project go into production at Pad #1 using a commercial-scale DLE unit capable of producing 150tpa of Lithium Carbonate Equivalent (LCE).
- To get into production, only AUD35m (USD22m) required to spend on Phase 1 CAPEX.
- Non-dilutive capital initiatives currently being considered with multiple potential strategic partners completing extensive due diligence on the Prairie Lithium Project, in addition to existing Government grants and loans being considered as well as traditional debt financing solutions.
- First commercial production marks the first Company in North America to reach this milestone.
- De-risking by a commercial scale proof of concept allows production to be increased by rapid replication of the process at Pad #1.
- Construction work will commence at Pad #1 in Q2 2025.
- Phase 2 will immediately expand the facility with additional commercial-scale DLE units. Additional units can be rapidly deployed to increase production at Pad #1. Phase III will see the Pad design replicated across the already drilled and de-risked Pad #2, and Pad #3. Additional Pad locations are also being finalised in 2025.
- Grey Owl Engineering has been engaged for facility engineering, procurement, and construction (EPC). Grey Owl is a leading Western Canadian oil & gas facilities engineering company.
- The Prairie Lithium Project in Canada is perfectly positioned to feed battery-grade lithium carbonate into the mature Asian battery market. Battery-grade samples produced from the Prairie project are currently being distributed and tested in Asia.1
Phase I will see the project go into production at Pad #1 using a commercial-scale Direct Lithium Extraction (“DLE”) unit capable of producing 150 Tonnes Per Annum (“TPA”) Lithium Carbonate Equivalent (“LCE”). The lithium produced will be used to de-risk end market opportunities where battery-grade samples are currently being tested by interested groups in Asia. Phase I will process brine at a rate of approximately 1,000m3 per day. It is critical to process raw brine at this commercial scale to de-risk the temperature, pressure and chemical constituents of the brine while feeding a commercial scale DLE unit 24 hours per day, 7 days a week. A video rendering of Phase I at Pad #1 has been prepared and can be viewed here: https://youtu.be/mUNExsUBjfo
This will represent one of the world’s largest DLE facilities and provide the guidance required to scale up production cost-effectively across the Prairie Project shortly thereafter. Upon commissioning and operating at this scale, the Company will have significantly de-risked the process and proceed to Phase II.
Phase II will see the immediate expansion of production on Pad #1. Phase II expansion will highlight the benefits of modularised scale-up as additional commercial-scale DLE units will be rapidly deployed. Additional wells will also be drilled to maximise production from Pad #1.
Phase III will see the replication of the wells and facility at Pad #1, applied to Pad #2, Pad #3 and additional Pads that are currently being identified.
Arizona Lithium Managing Director, Paul Lloyd, commented:“We are excited to share additional details about our plans for the Prairie Project. In 2023, a PFS was released that highlighted lithium production across three pad locations from the Prairie Project. In 2024, we partnered with three landowners to secure the three pad locations and immediately went to work permitting and clearing the ground for the pads. A major drilling program was then executed across those three pads, which significantly de-risked the project and put us in a position to continue development toward production. 2025 will be a year of facility construction and commissioning Phase I at Pad #1. Our phased development plan clearly articulates how we will continue to de-risk and develop the project. Modularisation allows rapid and cost-effective scale-up to increase production in Phase II and III.”
About the Prairie Lithium Project
AZL’s Prairie Lithium Project is located in the Williston Basin of Saskatchewan, Canada. Located in one of the world’s top mining friendly jurisdictions, the project has easy access to key infrastructure including electricity, natural gas, fresh water, paved highways, and railroads. The project also aims to have strong environmental credentials, with Arizona Lithium targeting to use less freshwater, land and waste, aligning with the Company’s sustainable approach to lithium development.
Click here for the full ASX Release
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Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) (‘Group Eleven’ or the ‘Company’) is pleased to announce results from the latest two holes of the ongoing drill program at the Company’s 100%-owned Ballywire zinc-lead-silver discovery (‘Ballywire’), PG West Project (‘PG West’), Republic of Ireland.
Highlights:
- G11-3552-27 intersected (from 213.0m):
- 24.8m of 8.1% Zn+Pb (5.8% Zn and 2.3% Pb), 80 g/t Ag and 0.12% Cu, including
- 15.6m of 11.6% Zn+Pb (8.3% Zn and 3.3% Pb), 122 g/t Ag and 0.19% Cu, including
- 6.6m of 16.7% Zn+Pb (11.1% Zn and 5.7% Pb), 240 g/t Ag and 0.42% Cu, including
- 3.5m of 21.3% Zn+Pb (13.3% Zn and 8.0% Pb), 395 g/t Ag and 0.73% Cu
- Located in middle of 270m gap between two previously released drill fences
- G11-3552-25 intersected (from 187.2m):
- 16.2m of 2.8% Zn+Pb (2.1% Zn and 0.7% Pb) and 8 g/t Ag, including
- 4.6m of 7.4% Zn+Pb (5.6% Zn and 1.8% Pb) and 21 g/t Ag, including
- 1.9m of 12.9% Zn+Pb (9.6% Zn and 3.3% Pb) and 39 g/t Ag
- Located 50m NNW from G11-3552-27
- Above results confirm the extent of the recently announced flat-lying zone of zinc-rich massive sulphide lenses at least 360m along strike and remaining open to the NE
- Massive sulphide zone is pierced by G11-3552-27 and seven previously released holes, of which three are referenced below:
- G11-3552-12: 29.6m of 10.6% Zn+Pb and 78 g/t Ag (released 11-Jun-24)
- G11-3552-18: 11.8m of 11.6% Zn+Pb and 48 g/t Ag (released 22-Oct-24)
- G11-3552-19: 15.3m of 14.5% Zn+Pb and 56 g/t Ag (released 14-Nov-24)
- Drilling continues at Ballywire with two rigs testing further down-dip of the two holes released today, plus the NE extension; assay results are expected in due course
‘It is great to see the NE massive sulphide zone now consistently intersected by eight high-grade holes over a strike length of 360m and open to the NE,’ stated Bart Jaworski, CEO. ‘Excellent silver and significant copper values are also noteworthy because they increasingly point to a stratigraphically deeper horizon known to be highly prospective for copper and silver in this part of Ireland. Namely, the Gortdrum Cu-Ag mine, active in the 1960s and 70s, is located 10km NE of Ballywire, whereas, the Denison and Tullacondra Cu-Ag historic occurrences are 5km SE and 45km SW of Ballywire, respectively. A deeper Cu-Ag horizon at Ballywire is one of our key targets for 2025.
Our two other key targets include: (i) exploration drilling along strike from the drilled 2.6km-long discovery area towards the encompassing 6km long prospective trend and (ii) up and down dip from the discovery trend in search of parallel zones of mineralization. We eagerly await results from drilling down dip of today’s results and along the NE extension.’
Exhibit 1. Cross-Section A-A’ of G11-3552-25, -27 (Filling In 270m Gap Between Fences) at Ballywire
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/239839_figure1.png
Exhibit 2. Plan Map Showing Key New Drilling (G11-3552-25, -27) at Ballywire
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/239839_figure2.png
Exhibit 3. Emerging Massive Sulphide Zone and Upcoming Drill Results at Ballywire
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/239839_5ca5f11594e49b67_004full.jpg
Recent Holes from Ballywire Discovery
The Ballywire prospect at the Company’s 100%-owned PG West Project in Republic of Ireland, is a relatively new zinc-lead-silver discovery (first announced Sept-2022). In addition to 42 holes drilled and reported by Group Eleven to date, the most recent two holes (G11-3552-25 to -27) are reported today (see Exhibits 1 to 6). Note, a second batch of assays totalling over 50m within G11-3552-27 is still pending.
High-grade mineralization from G11-3552-25 and -27 consists predominantly of massive and semi-massive sulphide (sphalerite, galena, pyrite, chalcopyrite and suspected tennantite-tetrahedrite), as well as, disseminated and vein hosted sulphide mineralization. Mineralization occurs along and/or close to the base of the Waulsortian Limestone (see Exhibit 1).
Exhibit 4. Summary of Assays from G11-3552-25 and -27 at Ballywire
| Item | From (m) |
To (m) |
Int (m) |
Zn (%) |
Pb (%) |
Zn+Pb (%) |
Ag (g/t) |
Cu (%) |
| G11-3552-25 | 187.15 | 203.35 | 16.20 | 2.14 | 0.69 | 2.83 | 8.00 | – |
| Incl. | 187.15 | 195.51 | 8.36 | 3.59 | 1.11 | 4.70 | 14.49 | – |
| Incl. | 190.87 | 195.51 | 4.64 | 5.59 | 1.82 | 7.41 | 20.97 | – |
| Incl. | 192.69 | 194.60 | 1.91 | 9.59 | 3.32 | 12.92 | 39.19 | – |
| G11-3552-27 | 213.00 | 237.81 | 24.81 | 5.84 | 2.28 | 8.11 | 80.4 | 0.12 |
| Incl. | 219.42 | 235.06 | 15.64 | 8.30 | 3.28 | 11.59 | 122.1 | 0.19 |
| Incl. | 219.42 | 222.21 | 2.79 | 15.57 | 3.77 | 19.35 | 92.79 | 0.03 |
| And | 228.51 | 235.06 | 6.55 | 11.06 | 5.65 | 16.71 | 240.0 | 0.42 |
| Incl. | 230.36 | 233.90 | 3.54 | 13.26 | 8.01 | 21.27 | 395.1 | 0.73 |
Note: True width of the overall mineralized package in all holes above is estimated at approx. 90-100% of the intersected interval
Overall, recent drilling suggests the emergence of two distinct styles of mineralization. First, relatively flat-lying zinc-rich massive sulphide lenses and second, ‘other high-grade mineralization’, dominated by variably dipping massive sulphides, as well as, vein-hosted and disseminated mineralization (see Exhibits 1-3). Both styles occur at or near the base of the Waulsortian Limestone and offer great exploration opportunities as drilling progresses.
Looking forward, seven (7) drill holes (G11-3552-24, -26, -28 and 29 to -32; see Exhibit 3) are in progress with results expected in due course. Exhibit 3 shows drilling to date across 1.25km of the overall 2.6km long trend (see Exhibit 2) of significantly mineralized drill intercepts (open in all directions). This in turn is hosted within a 6km long prospective trend defined by four gravity high anomalies, only one of which (anomaly ‘C’) is systematically drilled to date (see Exhibit 5).
Exhibit 5. Regional Gravity at Ballywire Showing 6km Long Prospective Trend
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https://images.newsfilecorp.com/files/5685/239839_figure5.png
Notes to Exhibit 6: (a) Pallas Green MRE is owned by Glencore (see Glencore’s Resources and Reserves Report dated December 31, 2023); (b) Stonepark MRE: see the ‘NI 43-101 Independent Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland’, by Gordon, Kelly and van Lente, with an effective date of April 26, 2018, as found on SEDAR; and (c) the historic estimate at Denison was reported by Westland Exploration Limited in ‘Report on Prospecting Licence 464’ by Dermot Hughes dated May, 1988; the historic estimate at Gortdrum was reported in ‘The Geology and Genesis of the Gortdrum Cu-Ag-Hg Orebody’ by G.M. Steed dated 1986; and the historic estimate at Tullacondra was first reported by Munster Base Metals Ltd in ‘Report on Mallow Property’ by David Wilbur, dated December 1973; and later summarized in ‘Cu-Ag Mineralization at Tullacondra, Mallow, Co. Cork’ by Wilbur and Carter in 1986; the above three historic estimates have not been verified as current mineral resources; none of the key assumptions, parameters and methods used to prepare the historic estimates were reported and no resource categories were used; significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimates can be verified and upgraded to be compliant with current NI 43-101 standards; a Qualified Person has not done sufficient work to classify them as a current mineral resource and the Company is not treating the historic estimates as current mineral resources. ‘Rathdowney Trend’ is the south-westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.
Exhibit 6. Regional Map of PG West (100% Interest) and Stonepark (77.64% Interest)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/239839_figure6.png
Note: Two westernmost prospecting licenses were surrendered in December 2024 from the Stonepark Project, reflecting decreasing prospectivity and the Company’s preference to focus on core prospects (Ballywire and Carrickittle West)
Consultant
The Company has engaged ProConsul Capital Ltd. (‘ProConsul’) to provide investment marketing consulting services (the ‘Services‘) commencing February 6th, 2025. In consideration for the Services, the Company will pay a fee of C$6,000/month and has agreed to grant stock options to ProConsul, the number and terms of which stock options will be determined at a later date. The agreement is subject to TSX Venture Exchange acceptance and renewable on a month-to-month basis unless terminated by either party on 30 days written notice.
Qualified Person
Technical information in this news release has been approved by Professor Garth Earls, Eur Geol, P.Geo, FSEG, geological consultant at IGS (International Geoscience Services) Limited, and independent ‘Qualified Person’ as defined under Canadian National Instrument 43-101.
Quality Assurance/Quality Control (QA/QC) Information
Group Eleven inserts certified reference materials (‘CRMs’ or ‘Standards’) as well as blank material, to its sample stream as part of its industry-standard QA/QC programme. The QC results have been reviewed by the Qualified Person, who is satisfied that all the results are within acceptable parameters. The Qualified Person has validated the sampling and chain of custody protocols used by Group Eleven.
About Group Eleven Resources
Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) and (FSE: 3GE) is a mineral exploration company focused on advanced stage zinc exploration in the Republic of Ireland. Group Eleven announced the Ballywire discovery in September 2022. Key intercepts to date include:
- 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03)
- 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06)
- 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12)
- 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03)
- 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and
- 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)
- 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27)
Ballywire is located 20km from Company’s 77.64%-owned Stonepark zinc-lead deposit1, which itself is located adjacent to Glencore’s Pallas Green zinc-lead deposit2. The Company’s two largest shareholders are Glencore Canada Corp. (17.1% interest) and Michael Gentile (16.5%). Additional information about the Company is available at www.groupelevenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer
E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.webb@groupelevenresources.com | T: 604-644-9514
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company’s public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties.
1 Stonepark MRE is 5.1 million tonnes of 11.3% Zn+Pb (8.7% Zn and 2.6% Pb), Inferred (Apr-17-2018)
2 Pallas Green MRE is 45.4 million tonnes of 8.4% Zn+Pb (7.2% Zn + 1.2% Pb), Inferred (Glencore, Dec-31-2023)
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239839
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(TheNewswire)
TORONTO, ON TheNewswire – FEBRUARY 6, 2025 Silver Crown Royalties Inc. ( ‘Silver Crown’ ‘SCRi’ or the ‘Corporation’ or the ‘Company’ ) is pleased to announce the closing of the first tranche of (‘ First Tranche ‘) of its previously announced royalty with PPX Mining Corp. (‘ PPX ‘) for up to 15% of the cash equivalent of silver produced from the Igor 4 project in Peru, and the concurrent launch of a non-brokered private placement offering of units.
In connection with closing of the First Tranche, SCRi paid US$1,000,000 in cash to PPX in exchange for a royalty equal to 6% of the cash equivalent of the silver produced from the Igor 4 project in Peru (‘ Igor 4 ‘). The second tranche of US$1,470,000 in cash (the ‘ Second Tranche ‘) is due within six months of the date hereof and increases the royalty to 15%. Minimum payment obligations of the cash equivalent of 14,062.5 ounces of silver per quarter begin no later than October 1, 2025 and continue until a total amount of 225,000 silver ounces has been paid.
Silver Crown also announces the launch of a non-brokered private placement of up to 400,000 units of the Company (‘ Units ‘) at a price of C$7.50 per Unit (the ‘ Issue Price ‘) for gross proceeds of up to C$3,000,000 (the ‘ Offering ‘). The Company reserves the right to increase the size of the Offering, subject to the approval of the Cboe Canada Exchange (‘ Cboe ‘). Each Unit will consist of one common share of the Company (a ‘ Common Share ‘) and one common share purchase warrant (‘ Warrant ‘). Each Warrant shall be exercisable to acquire one (1) additional Common Share at an exercise price of C$16.00 for a period of three years from the date of the closing of the Offering (the ‘ Expiry Date ‘).
Proceeds of the Offering will be used to fund the Second Tranche as well as a general and administrative expenses of SCRi. All securities issued pursuant to the Offering are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. Closing of the Offering will be subject to customary conditions precedent, including the prior approval of Cboe.
Peter Bures, Silver Crown’s Chief Executive Officer commented, ‘The tranche 1 closing of the PPX royalty marks our third successful transaction since we went public six months ago. We are growing our footprint in top-tear jurisdictions and targeting positive free cash flow later this year and as such, our reliance on capital markets as a going concern should be greatly diminished.’
Silver Crown also announces that due to winter conditions limiting operations at the Elk Gold Mine in Q42024, it has entered into a letter agreement allowing for Elk Gold Mining Corp.’s payment of the Q42024 minimum royalty payment of C$59,144.66 (plus applicable accrued interest) originally due on January 30, 2025 in two equal instalments on February 28, 2025 and March 31, 2025. It also confirms that the restart of commercial production at the PGDM Complex has not yet occurred, and it has not received its minimum royalty payment due from Pilar de Goiás Desenvolvimento Mineral Ltda. for Q42024.
ABOUT Silver Crown Royalties INC.
Founded by industry veterans, SCRi is a publicly traded, silver royalty company. SCRi currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure allowing for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders.
For further information, please contact:
Silver Crown Royalties Inc.
Peter Bures
Chairman and CEO
Telephone: (416) 481-1744
Email: pbures@silvercrownroyalties.com
FORWARD-LOOKING STATEMENTS
This release contains certain ‘forward looking statements’ and certain ‘forward-looking information’ as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as ‘may’, ‘will’, ‘should’, ‘expect’, ‘intend’, ‘estimate’, ‘anticipate’, ‘believe’, ‘continue’, ‘plans’ or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include but are not limited to statements with respect to SCRi’s ability to achieve its strategic objectives in the future and its ability to target additional operational silver-producing projects. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi’s ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi’s business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Copyright (c) 2025 TheNewswire – All rights reserved.
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The U.S. Postal Service has agreed to resume accepting shipments from China, less than 12 hours after announcing it would stop doing so.
‘Effective February 5, 2025, the Postal Service will continue accepting all international inbound mail and packages from China and Hong Kong Posts,’ it said in an updated statement Wednesday morning. ‘The USPS and Customs and Border Protection are working closely together to implement an efficient collection mechanism for the new China tariffs to ensure the least disruption to package delivery.’
The Postal Service had earlier announced it would stop accepting packages from China, as well as Hong Kong, in the wake of the Trump administration’s decision to impose a new round of 10% tariffs on all goods coming from the country.
Letters and flats were not affected by the initial announcement. While the Postal Service did not offer an explanation for the shipment halt, Trump ended a so-called ‘de minimis’ exemption for Chinese goods worth less than $800 in making the tariff announcement.
A Chinese Foreign Ministry spokesperson had earlier said China would take “necessary measures” to protect its companies, The Associated Press reported — urging the U.S. to “stop politicizing economic and trade issues and using them as a tool, and to stop unreasonably suppressing Chinese companies.”
CORRECTION (Feb. 5, 2025, 10:35 a.m. ET): A previous version of this article misstated when the Postal Service announced it would resume accepting shipments from China. The move came 12 hours after it stopped doing so, not 24.
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General Motors is laying off roughly half of the employees who remain at its discontinued Cruise robotaxi business.
The plans come two months after GM said it would no longer fund Cruise after spending more than $10 billion since acquiring the self-driving car business in 2016.
“Today, Cruise shared the difficult decision to part ways with approximately 50% of its workforce,” Cruise said in an emailed statement. “We are grateful for their passion and contributions to help us reach this stage, and our focus is on supporting them into their next chapter with severance packages and career support.”
Cruise had nearly 2,300 employees as of the end of last year, a GM spokesman previously told CNBC.
In an internal email sent Tuesday morning to all Cruise employees, which was viewed by CNBC, Cruise President and Chief Administrative Officer Craig Glidden wrote that the 50% reduction came “as a result of the change in strategy we announced in December.”
“With our move away from the ride-hail business and toward providing autonomous vehicles to customers alongside GM, our staffing and resource needs have dramatically changed,” Glidden wrote.
He added that a string of executives will also depart this week: Marc Whitten, CEO; Nilka Thomas, chief human resources officer; Steve Kenner, chief safety officer; and Rob Grant, chief government affairs officer. Mo Elshenawy, president and chief technology officer, will stay on at Cruise through the end of April to help with transition duties, Glidden wrote.
The Cruise layoffs, which were first reported by TechCrunch, were expected, but executives had previously declined to speculate on the amount.
The job cuts were announced in conjunction with the Detroit automaker reporting the completion of Cruise becoming a wholly-owned subsidiary within GM, which is now focusing on “personal autonomous vehicles” rather than robotaxis.
About 88% of remaining employees are in engineering or related roles, and impacted employees were given 60 days’ notice, according to the company.
During the remainder of their time with Cruise, the affected employees will receive full base pay, as well as eight weeks’ severance. Employees who had been with Cruise for more than three years will receive an additional two weeks’ pay for every additional year spent at Cruise, the company said.
“While not an easy decision, we are focused on combining efforts with General Motors to accelerate autonomy at scale on personal autonomous vehicles,” Cruise said.
GM’s Cruise was considered a leader in the business along with Alphabet-backed Waymo until the company grounded its robotaxi fleet and announced the end of its commercial operations late last year. That came after a October 2023 accident in which external probes found the company misled or deceived regulators about the incident.
In January 2024, a third-party probe into Cruise revealed that culture issues, ineptitude and poor leadership were at the center of regulatory oversights and coverup concerns that had plagued the company.
The report addressed, in part, controversy that had swirled around Cruise since an Oct. 2, 2023, accident in which a pedestrian in San Francisco was dragged 20 feet by a Cruise robotaxi after being struck by a separate vehicle. Results of the investigation, which reviewed whether Cruise representatives misled investigators or members of the media in discussing the incident, were published months later in a 105-page report.
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Fox Corp. is finally getting into the direct-to-consumer streaming game.
The company known for its news and sports TV content said Tuesday it’s aiming to launch a subscription streaming service by the end of the year.
The streaming service is not meant to upend Fox’s place in the traditional bundle, CEO Lachlan Murdoch said on the company’s quarterly earnings call. Murdoch offered few details on the streaming service beyond the high-level announcement. He said the company is designing the app now, and further information will be released in the coming months.
Fox’s upcoming streaming option is expected to include both its sports and news content, Murdoch said.
Unlike its legacy media competitors, Fox has so far been on the sidelines of streaming, with the exception of the Fox Nation streaming app, which includes exclusive programming to the service and on-demand Fox News primetime shows, and its free, ad-supported service Tubi. Fox, which will broadcast the Super Bowl on Sunday, is also offering the NFL’s biggest game on Tubi for the first time ever.
However, the late move into subscription-based streaming comes after Fox, alongside Warner Bros. Discovery and Disney, in January dropped efforts to launch a joint venture sports streaming app called Venu.
The three companies had planned to pool together all of their sports content and offer it on the Venu streaming service. However, following legal hurdles that delayed the original fall 2024 launch date, the companies called off their plans.
Out of the three partners, Fox was the only one without another option to offer its sports content outside of the cable TV bundle. Warner Bros. Discovery offers its live sports content on streamer Max. Disney’s ESPN has its ESPN+ app and is developing a separate direct-to-consumer ESPN streamer. The company is targeting an August launch of ESPN “Flagship,” the unofficial name of the all-inclusive ESPN service.
Fox’s Murdoch referred to the end of Venu as the company’s “only disappointment in sports.”
Fox has focused its strategy on sports and news content after selling its entertainment assets to Disney in 2019. The company has reported stable viewership and advertising revenue, even during the recent ad market slump. Live sports and news remain the highest-rated content in the traditional TV bundle, even as consumers cut the cord for streaming alternatives.
“We’re huge supporters of the traditional cable bundle, and we always will be,” Murdoch said on Tuesday’s call. “But having said that, we do want to reach consumers wherever they are, and there’s a large population, obviously, that are now outside of the traditional cable bundle.”
He said the company’s subscriber expectations “will be modest, and we’re going to price the service accordingly.” He added Fox doesn’t intend to convert any traditional cable TV customers into streaming customers with the app.
Murdoch said the company doesn’t “expect to have any exclusive rights costs or additional incremental rights costs” and will simply package its existing content. This means the costs of creating and distributing the platform will be “relatively low,” especially when compared with competitors.
In addition to shelling out billions for original entertainment programming, media companies have been spending big on exclusive sports media rights for their streaming platforms. In many cases, exclusive live sports have helped to drive subscriber and ad revenue growth for streamers.
On Tuesday, Murdoch also noted the recent rise of so-called skinny packages from traditional pay TV distributors, saying it bodes well for Fox’s portfolio since those packages most often consist of mainly sports and news content.
“We’re very pleased with this trend of the bundle. It’s financially, economically positive for us,” said Murdoch on Tuesday. “We would hope that this bundle will be attractive to the cordless customers — the cord-cutters and cord-nevers.”
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