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February 23, 2025

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Nuvau Minerals Inc. (TSXV: NMC) (‘Nuvau’ or the ‘Company’) is pleased to announce that the Company will be participating in two conferences over the next month: the BMO Global Metals, Mining, and Critical Metals Conference and the Prospectors and Developers of Canada Conference (PDAC). The focus at both will be meeting with existing shareholders and new investors to talk about progress at Nuvau’s Matagami Project in Québec.

‘Nuvau is participating in these conferences to share our story with a broader audience,’ said Peter van Alphen, the Company’s Chief Executive Officer. ‘We are looking forward to providing current and new investors with a deeper insight into the Matagami opportunity, including the exploration potential for base metals and gold on this large land package in the Northern Abitibi, as well as the rare opportunity to bring this property back into production in the near term. If you are attending either of these events, please schedule a one-on-one meeting with us or stop at our booth to speak with our team.’

  • 34th Annual BMO Global Metals, Mining, and Critical Metals Conference
    Peter van Alphen, CEO, and Steve Filipovic, CFO, will attend the BMO Conference in Florida from February 23-26, 2025, to participate in one-on-one meetings with some of our existing investors as well as new potential investors.
  • PDAC 2025
    The Nuvau team will be at Booth 2349 of the Investors Exchange on Sunday, March 2 to Wednesday, March 5. Nuvau again will use this event to meet with new and current investors to introduce the company and provide an update on current activities.

    Peter van Alphen will be presenting at the Québec Day, hosted by the Québec Ministry of Natural Resources and Forests. The presentation will take place on Tuesday, March 4 at 2:35 ET in room 206D in the North Building.

The Matagami Opportunity
The Matagami Mining Camp represents a compelling investment opportunity. Located in the northern Abitibi Greenstone belt in the province of Québec, the Matagami property is in the heart of a region that boasts a history of significant mineral endowment. The exploration potential of the Matagami property is substantial, with over 1,300 km² of highly prospective ground in a region renowned for its base and precious metal deposits.

In addition to the exploration potential, mineral resources have been identified on the property including three deposits collectively referred to as the Caber Complex. These resources represent a potential mine life of nearly 10 years as determined in the PEA prepared by Nuvau.

The property is also unique in the region as it includes extensive existing infrastructure including a permitted, 3,000 tonne per day, processing plant, and the permitted past-producing Bracemac McLeod Mine. This infrastructure will significantly reduce initial capital requirements if the Company reaches the point of restarting production.

About Nuvau Minerals Inc.
Nuvau is a Canadian mining company focused on the Abitibi Region of mine-friendly Québec. Nuvau’s principal asset is the Matagami Property that is host to significant existing processing infrastructure and multiple mineral deposits and is being acquired from Glencore.

For more information go to our website www.nuvauminerals.com.

For further information please contact:

Nuvau Minerals Inc.
Peter van Alphen
President and CEO
Telephone: 416-525-6023
Email: pvanalphen@nuvauminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Disclaimer & Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, ‘forward-looking statements‘) within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-Looking statements are often identified by terms such as ‘may’, ‘should’, ‘anticipate’, ‘will’, ‘estimates’, ‘believes’, ‘intends’ ‘expects’ and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements concerning the Agreement. Forward-Looking statements are inherently uncertain, and the actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of the Company, including expectations and assumptions concerning the Company. Readers are cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers are further cautioned not to place undue reliance on any forward-looking statements, as such information, although considered reasonable by the management of the Company at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

The forward-looking statements contained in this news release are made as of the date of this news release, and are expressly qualified by the foregoing cautionary statement. Except as expressly required by securities law, neither the Company nor Nuvau undertakes any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241898

News Provided by Newsfile via QuoteMedia

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Statistics Canada released its January consumer price index (CPI) figures on Tuesday (February 18). The data showed that inflation ticked up on a yearly basis to 1.9 percent from the 1.8 percent recorded in December. On a monthly basis, CPI rose 0.1 percent in January following a 0.4 percent decline in December.

The rise in inflation was owed to a 5.3 percent increase in energy prices on an annualized basis, primarily gasoline and natural gas, after recording a more modest 1 percent gain the previous month. Headlining the gains was an 8.6 percent jump in gasoline prices versus the same period last year and a 3.5 percent increase over December.

The agency also released its December mineral production survey on Thursday (February 20). The report showed overall increases in copper, gold and silver production and shipments compared to November’s totals.

Copper production increased by over 5 million kilograms to 38.93 million kilograms in December, up from 33.23 million kilograms the prior month. Shipments saw a similar increase, with 49.17 million kilograms shipped compared to 44.6 million kilograms shipped in November.

Gold production increased to 17,325 kilograms from 16,573 kilograms in November. Meanwhile, shipments of the precious metal increased even more, coming in at 23,217 kilograms compared to 14,332 kilograms in November.

As for silver, December saw the highest production and shipment levels for silver in 2024. Silver production increased to 33,074 kilograms, up significantly month-over-month from 24,959 kilograms. Silver shipments jumped even more at 36,984 kilograms, a considerable uptick from November’s 23,709 kilograms.

In mining news, Anglo American (LSE:AAL,OTCQX:AAUKF) announced that its 50.1 percent owned subsidiary Anglo American Sur and Chilean state mining company Codelco signed a memorandum of understanding to create a framework for implementing a joint mining plan for the companies’ adjacent Los Bronces and Andina mines in Chile.

Anglo American says the new operating company will optimize the use of processing capacity between the two mines. The companies expect that the mines will produce an additional 2.7 million metric tons of copper over a 21-year period starting in 2030, and generate an additional US$5 billion in pre-tax value. The companies will retain full ownership of their respective properties.

Markets and commodities react

US equity markets were broadly down this week, with the S&P 500 (INDEXSP:INX) losing 1.67 percent to end Friday (February 21) at 6,013.12 and the Nasdaq-100 (INDEXNASDAQ:NDX) falling 1.93 percent to 21,614.08. The Dow Jones Industrial Average (INDEXDJX:.DJI) sank the furthest, down 2.89 percent to 43.428.03.

In Canada, markets were also in decline. The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 2.48 percent on the week to close at 634.69 on Friday, the S&P/TSX Composite Index (INDEXTSI:OSPTX) posted a 2.15 percent loss to hit 25,147.03 and the CSE Composite Index (CSE:CSECOMP) dropped 2.59 percent to 132.46.

After hitting new all-time highs on Wednesday, the gold price remained in record territory on Friday, seeing a 1.78 percent increase on the week to close at US$2,934.24 per ounce at 4:00 p.m. EST. Silver also saw gains this week, moving up 1.22 percent to US$32.52.

In base metals, the copper price was in decline this week, shedding 2.13 percent throughout the week to close at US$4.59 per pound on the COMEX. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) was flat, shedding 0.08 percent to close at 569.41.

Top Canadian mining stocks this week

So how did mining stocks perform against this backdrop?

We break down this week’s five best-performing Canadian mining stocks below.

Data for this article was retrieved at 3:00 p.m. EST on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

1. Minsud Resources (TSXV:MSR)

Company Profile

Weekly gain: 47.06 percent
Market cap: C$156.7 million
Share price: C$1

Minsud Resources is a copper exploration company focused on advancing its operations in Argentina.

Its flagship project, Chita Valley, is located in San Juan and covers 19,883 hectares. The area hosts widespread porphyry copper-molybdenum-silver-gold mineralization and includes three core properties: the Chita, Brechas Vacas and the Minas de Pinto mineral concessions. Minsud’s primary target is its Chinchillones deposit.

Shares in Minsud saw recent gains following the release of a technical report for Chita Valley on February 14 reporting its January maiden mineral resource estimate (MRE) for the Chinchillones deposit. The deposit’s total indicated resource is 188 million metric tons (MT) of ore containing 466,000 MT of copper, 674,000 ounces of gold, 63.5 million ounces of silver, 6,800 MT of molybdenum and 291,000 MT of zinc.

The deposit also hosts an inferred resource of 573 million MT of ore containing 1.24 million MT of copper, 1.65 million ounces of gold, 166.6 million ounces of silver, 53,200 MT of molybdenum and 616,000 MT of zinc.

2. Kapa Gold (TSXV:KAPA)

Weekly gain: 32 percent
Market cap: C$11.58 million
Share price: C$0.165

Kapa gold is an exploration company focused on advancing the past-producing Blackhawk mine in San Bernardino County, California.

The project site is composed of seven patented and 178 contiguous federal lode claims covering 1,496.2 hectares. The property hosts multiple mineralized zones with previous exploration work revealing deposits with high grade gold, silver, lead and zinc. Historic production has seen grading from ramps and underground mines averaging 10 grams per metric ton (g/t) gold.

Kapa has not released news since January 7, when it announced that it was advancing baseline studies and surface exploration at Blackhawk. The company said the work was being conducted in preparation for a 2025 drill program, with data gathered being used to identify drill targets.

3. Power Metals (TSXV:PWM)

Company Profile

Weekly gain: 31.03 percent
Market cap: C$160.67 million
Share price: C$1.14

Power Metals is a lithium and cesium exploration company focused on its Case Lake project.

Located in Northeastern Ontario, the site is 10 kilometers by 9.5 kilometers in size and comprises 585 cell claims. Exploration at the site between 2017 and 2024 led to the discovery of pegmatite dykes bearing lithium, cesium and tantalum (LCT). Case Lake now consists of six spodumene dykes that form a mineralization trend of about 10 kilometers.

Assays from the site released on February 14 included a highlight of 8.07 meters grading 2.19 percent lithium oxide, 5.19 percent cesium oxide and 1,438 parts per million (ppm) tantalum. The results also included a 1 meter intersection bearing 1.85 percent lithium oxide, 11.7 percent cesium oxide and 208 ppm tantalum.

In addition to its most recent exploration news, Power Metals announced on February 10 that it had brought on DRA Global to begin work on a maiden mineral resource estimate and preliminary economic assessment for the Case Lake project. It expects to have the former completed by the end of Q1 2025, with the latter to follow in Q2.

Adding to Power Metals’ recent share gains was a release on February 5 in which the company reported that it had been awarded a new exploration permit for Case Lake. The new permit will remain valid for the next three years and will be used to target newly identified cesium targets uncovered in late 2024.

While the company did not release news this week, it continued its upward trend from recent weeks.

4. Minco Silver (TSXV:MSV)

Company Profile

Weekly gain: 29.73 percent
Market cap: C$12.82 million
Share price: C$0.24

Minco Silver is a development company working to advance its Fuwan silver project in China’s Guangdong province.

The property consists of three exploration permits covering a total of 125.74 square kilometers. Exploration to date has largely been focused on an area hosting 2.8 kilometers by 10 kilometers of strike.

A 2009 feasibility study for the property included a total probable reserve estimate of 55.3 million ounces of silver across 9.12 million metric tons of ore with an average grade of 189 g/t.

Shares in Minco have seen gains this past week but the company has not released news.

5. K2 Gold (TSXV:KTO)

Company Profile

Weekly gain: 29.03 percent
Market cap: C$24.65 million
Share price: C$0.18

K2 Gold is a gold exploration and development company with a portfolio of three assets located in Canada and the United States.

The company’s Wels project in Canada is composed of 351 contiguous quartz claims covering 7,200 hectares near Beaver Creek, Yukon. According to the project page, K2 says the deposit is similar to Newmont’s (TSX:NGT,NYSE:NEM) nearby 4 million ounce Coffee gold deposit.

In the US, K2 owns its flagship Mojave gold project in Inyo County, California, which covers 5,830 hectares with 12 exploration targets. In addition to gold, Mojave also contains mineralization of copper, silver, lead and zinc.

The company’s final asset is the Si2 gold project in Esmeralda County, Nevada, US. The site consists of 118 Bureau of Land Management lode claims covering 986 hectares in the Walker Land trend. Exploration has indicated gold-bearing mineralization, with concentrated veins hosted by fault structures at depth.

On January 17, K2 announced that it signed an agreement with Orogen Royalties (TSXV:OGN) to accelerate its acquisition of a 100 percent stake in the Si2 project.

The new deal will see K2 pay Orogen C$250,000 in cash or common shares and a 2 percent net smelter return royalty to immediately acquire the property, replacing a January 2022 deal in which K2 had to make US$200,000 in cash payments and C$2.3 million in exploration expenditures.

The release also included results from an alteration study on Si2 drill core that determined the presence of an intact, low-sulfidation epithermal gold system.

K2 said the acquisition “allows us the flexibility to advance the project at our own pace as we approach the final steps in permitting at K2’s flagship Mojave project.

The Company’s most recent news came on February 21, when it said it had increased its previously announced non-brokered private placement to C$3 million in capital through the sale of 20 million units at a price of C$0.15 per share. The funds will be used for exploration and permitting at the Mojave gold project.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many companies are listed on the TSXV?

As of June 2024, there were 1,630 companies listed on the TSXV, 925 of which were mining companies. Comparatively, the TSX was home to 1,806 companies, with 188 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

The TSX Venture Exchange has released its annual TSX Venture 50 ranking, recognizing the top-performing companies based on share price appreciation, market capitalization growth and Canadian trading value.

Among this year’s top 10 are six companies from the mining and oil and gas sectors.

Read on to learn about the companies and their assets.

1. Sintana Energy (TSXV:SEI)

Company Profile

Sintana Energy, a Canadian oil and natural gas exploration company, secured the third position on the TSX Venture 50.

The company’s share price rose an impressive 293 percent in 2024.

Sintana’s primary asset is its ownership interest in the VMM-37 block, located in Colombia’s Magdalena Basin. With offices in Toronto and Dallas, Sintana continues to strengthen its exploration portfolio.

2. Power Metallic Mines (TSXV:PNPN)

Company Profile

Power Metallic Mines ranked fourth overall on the TSX Venture 50 and saw a 365 percent increase in share price.

The company is focused on developing its Nisk project, a high-grade nickel-copper-PGMs-gold-silver asset in Québec, Canada. Nisk spans a 20 kilometer strike length, with multiple high-grade discovery zones.

Power Metallic Mines changed its name from Power Nickel, effective February 21, to better reflect the polymetallic nature of its flagship asset. CEO Terry Lynch emphasized in the announcement that the Lion zone’s high-grade copper, platinum and palladium assays necessitated a rebranding to align with the company’s evolving vision.

3. Montage Gold (TSXV:MAU)

Company Profile

Fifth place Montage Gold, which recorded a 193 percent share price appreciation last year, is advancing the Koné gold project in Côte d’Ivoire. The project is regarded as one of Africa’s highest-quality gold assets, boasting a 16 year mine life and an annual production target exceeding 300,000 ounces for the first eight years.

With an all-in sustaining cost of US$998 per ounce, the project is well positioned for economic viability.

Construction began in late 2024, with first gold production anticipated by Q2 2027.

4. Founders Metals (TSXV:FDR)

Company Profile

Canadian exploration company Founders Metals came in sixth place and experienced a 196 percent rise in share price. Founders Metals is focused on the Antino gold project in Suriname’s Guiana Shield.

Covering over 20,000 hectares, Antino hosts a past-producing mine that produced over 500,000 ounces of gold.

The company recently announced a high-grade gold discovery at the Van Gogh prospect, reporting an intersection of 28.5 meters at 7.12 grams per metric ton gold from a 2025 drilling campaign.

5. Q2 Metals (TSXV:QTWO)

Company Profile

Q2 Metals secured ninth place with a 214 percent share price appreciation.

The company is focused on its lithium projects in Québec’s Eeyou Istchee James Bay region.

Last year, the company acquired the Cisco lithium project, which comprises 767 claims across 39,389 hectares. Q2 Metals is also actively advancing the Mia lithium project, which hosts the MIA 1 and MIA 2 lithium occurrences along a 10 kilometer trend. Additionally, it owns the 3,972 hectare Stellar lithium project located near the Mia project.

6. Artemis Gold (TSXV:ARTG)

Company Profile

Artemis Gold rounds out the list in 10th place with a 118 percent share price appreciation. The company is focused on developing the Blackwater mine in BC, which holds a gold resource of over 10 million ounces.

The project has secured key regulatory approvals and is expected to become one of Canada’s largest gold mines. This January, Artemis announced its first gold and silver pour at Blackwater, marking a major milestone.

President and Chief Operating Officer Jeremy Langford noted that the crushing circuit has exceeded nameplate throughput, and the milling circuit is performing as expected. Commercial production remains on track for Q2 2025.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

This week brought major moves in the tech space, including a new product release from Apple (NASDAQ:AAPL) and reports of a potential shakeup for Intel’s (NASDAQ:INTC) businesses.

Meanwhile, big things are brewing for two former OpenAI members, and Microsoft (NASDAQ:MSFT) has made a quantum leap. Plus, following a remarkable period of growth, Palantir (NASDAQ:PLTR) experienced an unexpected shift.

Read on to learn more about what happened during a busy week in the tech sector.

1. Apple debuts new iPhone 16e with advanced features

Apple rolled out a new device to the iPhone 16 lineup on Wednesday (February 19), expanding its offerings with a budget-friendly option that doesn’t compromise on advanced functionality.

The more affordable iPhone 16e comes equipped with an advanced 2-in-1 camera system, Apple’s A18 chip — replacing the A17 chip found in iPhone 15 models — to enable Apple Intelligence. It also comes with the company’s new C1 modem, the first cellular modem designed entirely in-house, replacing Qualcomm’s (NASDAQ:QCOM) Snapdragon X70.

This move towards in-house components is expected to continue, with Apple analyst Ming-Chi Kuo predicting the company will also replace Broadcom’s (NASDAQ:AVGO) Wi-Fi chips with its own, starting with the iPhone 17 series.

According to Cult of Mac, an online publication that focuses on Apple news and product reviews, the C1 modem “integrates 4G, 5G, satellite and GPS radios in one chip”, representing a “brand-new direction for Apple silicon, alongside the company’s processors and other wireless chips.”

The modem helps enable the phone’s satellite features, which allow for emergency communication and location tracking even when outside cellular and Wi-Fi coverage. It also helps extend the phone’s battery life.

Pre-orders began on Friday (February 21) and the phones will be available for purchase next week.

Later, Apple wrapped up the week by announcing on Friday that it would include Apple Intelligence in visionsOS 2.4, the immersive Apple Vision Pro platform. The update will enable tools such as text composition from ChatGPT and an Image Playground where users can create new images using AI. The changes are set to take place for English users in April, with features for additional languages rolling out gradually throughout the year.

Meanwhile, Bloomberg sources recently revealedthat the company has run into engineering problems and bugs that may delay the release of Apple’s promised overhaul of its digital assistant Siri, which was slated for April.

Sources claim that the update could now come in May or later.

The company also faces intensifying rivalry with Meta Platforms (NASDAQ:META), particularly in the emerging field of humanoid robots, as detailed in this piece from Bloomberg’s Mark Gurman.

2. Intel surges on acquisition rumors, then dips

Shares of Intel opened over 10 percent higher on Tuesday (February 18) after the Wall Street Journal reported over the weekend that rival chipmakers Taiwan Semiconductor Manufacturing Company (TSMC) (NYSE:TSMC) and Broadcom were both in talks to acquire different divisions of the company. According to the report, Broadcom is seeking Intel’s chip-design business, while TSMC is looking to acquire its chip-manufacturing unit.

Separately, Bloomberg reported on Monday (February 17) that Silver Lake Management was in talks to acquire a majority stake in Intel’s programmable chips unit, Altera, continuing the upward momentum.

The stock reached US$27.39 by the closing bell on Tuesday, nearly 14 percent higher than the closing price the previous Friday.

However, the majority of the company’s gains were promptly reversed on Wednesday after analysts voiced concerns over Intels’ potential break up and possible barriers to acquisition, such as different manufacturing processes. Regulatory scrutiny was also cited as a potential obstacle to any deal between Intel and TSMC.

And the Trump administration ‘could be wary of a foreign entity completely taking over an iconic US-firm,’ Bank of America analyst Vivek Arya wrote in a note to investors Tuesday, despite reports suggesting that the Taiwanese firm was considering the deal at the request of the Trump administration.

3. Ilya Sutskever’s SSI secures major investment

On Monday, Bloomberg disclosed a US$1 billion deal for OpenAI co-founder Ilya Sutskever’s start-up, Safe Superintelligence (SSI). Sutskever was formerly a chief scientist at OpenAI before leaving the company in May 2024.

Sutskever was a central figure in an attempt to remove OpenAI CEO Sam Altman from the company in November 2023; however, just days later Sutskever signed a letter demanding Altman’s return and said he regretted his participation.

He started SSI in June 2024, shortly after leaving OpenAI. The company focuses on building advanced artificial intelligence technology with safety features and has attracted significant interest from investors including Sequoia Capital, Andreessen Horowitz and DST Global, despite not yet generating revenue.

The latest funding round is led by venture capitalists at San Francisco-based firm Greenoaks Capital Partners, who have committed US$500 million, according to the report. Sources say the company is in talks to raise more than US$1 billion, potentially valuing the company at US$30 billion.

While Reuters provided details of the deal earlier in February, sources had previously valued the company at US$20 billion, a significant increase from its US$5 billion valuation following a funding round in September 2024.

Also this week, Mira Murati, another former OpenAI employee who previously served as the company’s chief technology officer, announced the name of her new venture, Thinking Machines Labs, via a blog post on Tuesday. Murati resigned from OpenAI in September 2024 after the company agreed to change its corporate structure, handing control to its for-profit arm as a stipulation of a US$6.6 billion funding round.

4. Palantir faces dual challenges

Shares of software company Palantir plunged by over 21 percent this week after Benzinga and other media outlets reported a regulatory disclosure on Wednesday, revealing CEO Alex Karp’s plan to sell nearly 10 million shares.

Later on Wednesday, the Pentagon announced it would cut roughly US$50 billion from its budget after it was ordered to reduce spending by 8 percent every year for the next five years last Friday by Defense Secretary Pete Hegseth. Cuts are likely to affect staffing as well as some weapons programs, according to NPR.

However, certain areas, such as border defense and spending on drones and submarines, will likely be exempt from the cuts or even receive increased funding.

“President Trump’s charge to the Department of Defense is clear: to achieve peace through strength,” wrote Robert G. Salesses, a senior Pentagon official, in a press release. “We will do this by putting forward budgets that revive the warrior ethos, rebuild our military, and reestablish deterrence.”

Palantir is a well-established defense contractor that works extensively with the US military. In December 2024, the company secured a US$401 million follow-on contract with the US Army to continue its work on the Vantage platform, an AI-powered data analysis tool used to improve decision-making and readiness. Its stock has seen remarkable growth, increasing by nearly 350 percent compared to its value a year ago.

5. Microsoft unveils new quantum chip

On Wednesday Microsoft unveiled its newest innovation, a quantum computing chip that the company claims can solve meaningful, industrial-scale problems in years, not decades.

Named Majorana 1, this chip stands apart from other quantum computing approaches due to its unique particles, which offer increased resilience against errors. Many qubits are incredibly sensitive to their environment, and tiny disturbances can cause them to lose their quantum information, resulting in computing errors.

Majorana 1 tackles this challenge with its unique architecture, where quantum information is distributed and protected, making it less susceptible to environmental disturbances and resulting in greater stability.

Microsoft refers to Majorana’s architecture as “topological,” which basically means the quantum information is encoded robustly, tied to the overall state of the system rather than individual parts.

This protection comes from the unique nature of the particles themselves: they’re Majorana particles, which are their own antiparticles—a very unusual property that contributes to their stability.

However, some researchers have cast doubt on whether Microsoft’s chips are capable of such stability.

Steven Simon, a theoretical physicist at the University of Oxford, UK, who was results at its research center in Santa Barbara, told Nature: “Would I bet my life that they’re seeing what they think they’re seeing? No, but it looks pretty good.”

He also said that there was no way to know from the experiment whether Microsoft had created qubits made of topological states. Notably, Microsoft previously claimed it had accomplished Majorana states in 2018, but later retracted its assertion in 2021 after further testing.

Still, Microsoft shares saw a boost after the press release, closing up 1.5 percent higher on Wednesday afternoon.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Another week, another gold price record.

The yellow metal rose to a new high once again on Thursday (February 20), moving past the US$2,950 per ounce level for the first time ever.

It’s becoming increasingly clear that gold is being pushed higher by a strong base of underlying drivers, as well as day-to-day events.

Taking a look at this week’s key news around gold, headlines have centered on a possible audit of Fort Knox, a US Army installation in Kentucky. Fort Knox reportedly holds 147.3 million ounces of gold, but the last-known audit took place in 1953, and in the decades since then questions have been raised about whether it is intact.

The latest audit talk started when tech billionaire Elon Musk responded to a post on X in which a user said it would be ‘great’ to have Musk look into Fort Knox’s gold. Musk responded, ‘Surely it’s reviewed at least every year?’

Musk’s comment prompted a response from Senator Rand Paul (R-Ky.), who has advocated for increased transparency regarding the gold at Fort Knox for years. He signaled support for an audit with his reply, “Nope. Let’s do it.’

The idea has gained traction since then, with President Donald Trump quickly getting behind it — speaking to reporters on Air Force One, he said, ‘If the gold isn’t there, we’re going to be very upset.’

Fort Knox has been a big story for gold this week, but there are plenty of other developments worth tracking. I spoke with Craig Hemke of TFMetalsReport.com about the continued flow of gold from London to New York, and he suggested that the mainstream narrative that tariffs are driving this move could be wrong.

Instead, he believes the US may be preparing to monetize its gold, and could be bringing the precious metal into the country for that reason. He emphasized that there are many unknowns in this situation, but pointed to recent comments from newly appointed Secretary of the Treasury Scott Bessent to support this idea.

‘Within the next 12 months we’re going to monetize the asset side of the US balance sheet for the American people. We’re going to put the assets to work, and I think it’s going to be very exciting’ — US Secretary of the Treasury Scott Bessent

When asked what other under-the-radar issues we may be missing, Craig reminded investors not to forget the importance of central bank gold buying, which remains strong, and physical supply and demand numbers for gold as well as silver.

I’ll leave the link to the full interview with Craig in the video description — definitely check it out if you haven’t already and let me know your thoughts in the comments.

Bullet briefing — Barrick, Mali resolve disupte, Anglo, Codelco to team up

Barrick, Mali set to resolve dispute

Barrick Gold (TSX:ABX,NYSE:ABX) has reportedly signed a US$438 million deal that would end a dispute over its mining assets in Mali.

According to Reuters, the Mark Bristow-led company is now waiting for Mali’s government to issue formal approval. At the time of this recording the approval had not yet come, but it’s possible it will have arrived by the time this video is posted.

The dispute between Barrick and Mali has been ongoing for nearly two years, and in November resulted in the suspension of Barrick’s Loulo-Gounkoto operation.

Anglo, Codelco to team up in Chile

Anglo American (LSE:AAL,OTCQX:AAUKF) and Chilean state-owned miner Codelco have signed a memorandum of understanding to jointly operate their adjacent copper mines in the country, saying it will boost copper output with little additional capital.

Their joint release states that the arrangement will increase production of the red metal by an average of nearly 120,000 metric tons per year. In total, Anglo and Codelco anticipate generating further value of at least US$5 billion before tax.

The companies expect to enter definitive agreements in the second half of 2025.

On a similar note, Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) Chief Executive Jonathan Price said in a post-earnings conference call that his company is open to collaborating with Glencore (LSE:GLEN,OTC Pink:GLCNF) on copper in Chile.

“We do recognize the potential value of some form of tie up between those two operations. And it’s something that we’ve done a good deal of work on to understand the various ways in which that value could be unlocked’ — Jonathan Price, Teck Resources

Glencore made a bid for Teck in 2023, but ultimately only acquired the company’s coal business.

Price said he sees ‘potential value’ in a tie up between Teck’s QB2 mine and Glencore’s Collahuasi mine, but couldn’t share further details on plans.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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A draft deal between the United States and Ukraine over rare earth minerals and other natural resources is “not the one President Zelensky would accept,” according to a source familiar with the negotiations.

The US is trying to gain access to Ukraine’s critical minerals and other resources as part of wider negotiations aimed at ending the war in Ukraine. In return, Ukraine has been pushing for security guarantees, with Kyiv not only keen to see the return of lost territory but protection against a possible future Russian invasion.

Ukraine was not invited to talks between the US and Russia in Saudi Arabia and this week Zelensky and US President Donald Trump have been locked in an escalating war of words.

Trump falsely accused Zelensky of starting the Ukraine war while the Ukrainian leader hit back, saying the US president live in a “disinformation space.”

Ukrainians are still trying to negotiate amendments because the current draft “does not foresee any American obligations while Ukraine is expected to provide everything,” the source said.

The source spoke after an official in the Ukrainian Presidential Administration told Ukrainian state broadcaster Suspline that there would be no signing of the agreement on rare earth metals Saturday.

Work had continued on the document “all night” but was held up by the issue of “security guarantees,” Suspline reported.

The continued Ukrainian resistance to signing the deal in its current form comes after days of intense pressure from the Trump administration, whose National Security Advisor Mike Waltz even highlighted the case of an aluminium mine that could meet all the US’s annual needs if refurbished with American investment.

Also on Saturday Ukraine’s foreign minister, Andrii Sybiha, posted that he had spoken with US Sectetary of State Marco Rubio “to continue the results-oriented Ukraine-US dialogue.

“Ahead of the third anniversary of Russia’s full-scale aggression, I underscored Ukraine’s strong will to achieve a comprehensive, just, and lasting peace—one that will strengthen Ukraine and the US.”

The US official said Kellogg’s visit had led to “very good meetings sealing this for the President of the United States.”

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One person has died and several are wounded following a knife attack at a town market in eastern France, in what French authorities have described as an act of terror.

“Horror has just gripped our city. A man attacked passers-by at the covered canal market with a knife, several municipal police officers who intervened to neutralize him were also injured,” Mulhouse town mayor Michèle Lutz said in a statement Saturday on Facebook.

The suspect has been arrested and is currently in police custody, according to a press release by the office of France’s national anti-terror prosecutor.

The attacker had targeted several municipal police officers, shouting “Allahu Akbar,” as well as a passerby, the prosecutor’s office said. A civilian has died, and three officers are injured.

French President Emmanuel Macron expressed condolences to the victim’s family, adding that France’s national anti-terror prosecutor is looking into the case.

Macron also described the attack as “no doubt, an Islamic terrorist act, given the terrorist’s words.”

This is a developing story and will be updated.

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Pope Francis, who has been hospitalized for more than a week, remains in “critical” condition and developed an “asthmatic respiratory crisis” earlier on Saturday, the Vatican said in a statement.

“This morning Pope Francis presented with an asthmatic respiratory crisis of prolonged magnitude, which also required the application of oxygen at high flows,” the Vatican wrote about the ailing pontiff who is being treated for pneumonia.

While Francis “continues to be alert and spent the day in an armchair” he is “in more pain than yesterday,” it added.

He also received blood transfusions today to treat anemia, according to the statement.

Earlier on Saturday, the Vatican said he would remain in hospitalized following his pneumonia diagnosis and will not deliver the weekly Angelus prayer – for only the third time in his almost 12-year-long papacy.

The pope’s condition had seemed more promising earlier in the week, with the Vatican describing him as responding “positively” to medical treatment for pneumonia on Thursday.

“Is the pope out of danger? No. Both doors are open. Is he at risk of immediate death? No. The therapy needs time to work,” said Sergio Alfieri, a surgeon who has previously operated on the pope, to reporters on Friday.

The pontiff was admitted to clinic in the Italian capital on February 14, and initially underwent tests for a respiratory tract infection. He was subsequently diagnosed with pneumonia in both lungs after a later CT scan.

Francis, who is from Argentina, has a vulnerability to respiratory infections. As a young man, he suffered a severe bout of pneumonia that led to the removal of part of one lung.

In 2021, doctors also surgically removed part of his colon in relation to diverticulitis, which can cause inflammation or infection of the colon. He was hospitalized with bronchitis in 2023, and in recent months has had two falls where he bruised his chin and hurt his arm which was put into a sling.

‘An extraordinary man’

This is the third-longest time Francis has spent in hospital since his election as pope.

His doctors have advised “complete rest” for the pope. Even so, he has continued to do some work, including on the first two days of hospitalization holding his daily phone call to Rev. Gabriel Romanelli and his assistant, Father Yusuf Asad, in Gaza City, northern Gaza. They have been in frequent contact since Israel launched its bombing campaign and siege on the enclave, following the October 7 Hamas-led attacks.

“We joked as always. He hasn’t lost his proverbial sense of humor,” the prime minister said in a statement.

Outside the capital, worshipers have gathered in candle-lit churches – from Argentina to the Vatican – to pray for Francis’ steady recovery.

“We always put him in our intentions,” Rodomina Valdez, a 45-year-old Argentinian in the Metropolitan Cathedral, in the capital Buenos Aires, told Reuters on Wednesday. “But what we can do is put him in our prayers and offer fasting or in any case, some penance.”

Just outside St. Peter’s Basilica, at the Vatican, a German tourist, Klaus, said he hoped the pope “will have many strong years left in him.” And back at the Agostino Gemelli Polyclinic, in Rome, letters and drawings made by children in the oncology department showed colorful illustrations and messages wishing him well.

“I hope he gets well soon and that he can get back to his role,” Gaetano Bavagnini, a Rome resident, said. “He is an extraordinary man and an extraordinary pope.”

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President Donald Trump spent the first month of his second term on an extraordinary mission — dismantling the global system the United States spent the past 80 years building.

It was always theoretically possible that the West could lose its resonance as World War II and the Cold War became increasingly distant memories. But no one expected to see a US president wielding the ax.

When Trump won last year’s election, there was a sense among some western diplomats in Washington that their governments knew how to handle a president who in his first term often made foreign policy by tweet. But the shock that drove European leaders to an emergency meeting in Paris this week suggests they underestimated just how destructive Trump’s second term would be.

  • Trump has reversed US policy on the war in Ukraine, taking the side of the invader rather than the invaded party. He’s parroting Russian President Vladimir Putin’s talking points and is trying to push Ukrainian President Volodymyr Zelensky from power.
  • His Vice President JD Vance traveled to Munich, where he castigated European leaders as “tyrants” suppressing conservative thought and pressured Germany to dismantle the political “firewall” that it set up to ensure that fascists could never again win power.
  • Defense Secretary Pete Hegseth meanwhile told Europeans that they now need to “take ownership of conventional security on the continent” casting immediate doubt on security alliance NATO’s foundational creed of mutual self-defense.

Defense Secretary Pete Hegseth meanwhile told Europeans that they now need to “take ownership of conventional security on the continent” casting immediate doubt on security alliance NATO’s foundational creed of mutual self-defense.

America’s repudiation of its traditional foreign policy is being driven by both Trump’s particular obsessions and wider geopolitical changes. The United States remains the world’s strongest power — but it no longer has the might that can force others — like China — to live by its rules. Indeed, it now has a president who has no intention of observing any economic, trade, and diplomatic rules at all and is threatening to annex Canada.

Not only that, but the new administration is actively seeking to destabilize friendly democracies and fuel a global movement of rightwing populism. Vance’s speech warned that European governments threatened their own security more than China or Russia because of their policies on free speech and immigration. He also met the leader of the AfD, a far-right party in Germany with neo-Nazi roots and sought to boost far-right parties elsewhere who are challenging governments in France and Britain for example. Trump would rather deal with fellow travelers in a Make Europe Great Again (MEGA) movement than centrist leaders now in office.

So, what can Europe do now that America — the country that rebuilt the continent from the ashes of World War II — seems to be becoming an openly hostile power?

French President Emmanuel Macron, acting on the experience of his dealings with Trump during their first terms, has been warning for years that Europe needed to realize that America had become an unreliable partner. With doubts about the US military commitment to its allies, other members of NATO now have no choice but to hike shriveled military spending.

This will be painful since many of Europe’s governments are already struggling to balance the books and are under extreme pressure to maintain their popular welfare states. And getting all members of the European Union to agree on a more independent path will be treacherous. Some nations in Moscow’s old neighborhood – like Poland and the Baltic states – understand the Russian threat all too well, but some smaller, Western European countries perceive the danger to be more distant. And the EU now includes some leaders who’d love to help Trump do Putin’s work for him in dividing the western alliance — Hungarian Prime Minister Viktor Orban for instance.

In only 31 days in office, Trump has already changed the world.

What to watch for next week

Barring a big surprise, the big international story will be Ukraine.

We may learn more about the prospects of a peace deal to end the war and how it would be implemented when Macron visits the White House on Monday and British Prime Minister Keir Starmer follows him on Thursday.

The visits will be critical to showing whether there is any scope for US-European cooperation on the war — after the continent was shut out of US talks in Saudi Arabia with Russia this week. Both Britain and France say they’re ready to send troops to Ukraine to monitor any eventual peace — but it’s hard to fathom that such an operation could take place without US air, intelligence, and logistical support. Is Trump prepared to do this and risk angering Moscow, which has already ruled out the idea of foreign troops in Ukraine?

Look out also next week to see if either leader shows up in the Oval Office with an offer to raise their own defense spending — to impress their host.

Macron plans to use his visit to try to insert some steel in Trump’s spine following his latest round of genuflecting to Putin and will appeal to the US President’s highly advanced sense of his own power. “I’m going to say to Trump, ‘Deep down you can’t be weak in the face of Putin, it’s not you, it’s not your trademark’,” Macron said Thursday.

The UK isn’t in the European Union anymore, but it’s been in lockstep with Macron and other leaders from the bloc this week. Starmer is seeking to restore the UK’s former role its traditional role as a bridge between its great friend the United States and Europe.

There’s just one problem. Trump doesn’t cross bridges. He burns them.

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Editor’s Note: This article contains details that readers may find distressing.

Five years ago, a 13-year-old girl, the daughter of poor wage laborers from one of India’s most marginalized communities, was allegedly sexually abused by one of her neighbors in the village where she lived.

Her alleged abuser filmed it and police are investigating whether he used the images to blackmail and manipulate the girl into being raped and sexually abused by dozens of other men and boys over the next five years.

Police say the allegations only came to light after the girl, now 18, spoke to a counselor visiting her college in Kerala state and detailed the years of horrific abuse.

Charges have not yet been filed and the 58 men remain in detention. None of the accused has spoken publicly about the allegations. Under Indian rape laws, the girl has not been identified.

Violence against women is rampant in India due to entrenched sexism and patriarchy, despite laws being amended to include more severe punishments for abusers.

In August the rape and murder of a trainee medic in the eastern city of Kolkata sparked a nationwide doctors’ strike that brought tens of thousands into the streets to demand change.

The Kerala case has not sparked similar outrage.

Experts and activists say that’s because the victim is from the Dalit community at the bottom of the Hindu caste system, a 3,000-year-old social and religious hierarchy that categorizes people at birth and defines their place in society.

Dalits traditionally carry out occupations viewed as ritually “unclean” by Hindu scripture, such as manual scavenging, waste picking and street sweeping.

They are often banned from visiting temples and forced to live apart from higher-caste communities, often in squalor and farther from access to services.

Despite legislation banning discrimination based on caste, activists say the stigma leaves India’s more than 260 million Dalits vulnerable to abuse and less able to seek redress for crimes committed against them.

“When it’s Dalit women, in general the outrage is less across the country,” said Cynthia Stephen, a Dalit rights activist and social policy researcher.

There is a sense that “this girl is not ‘one of us,’” she said.

Manipulated, kidnapped and abused

At least three of her abusers promised to marry her, according to police. One threatened to kill her if she reported the abuse.

Some of the men acted alone, police said. But others are accused of gang rape. “It’s not that all the cases are connected. But in one case, there might be four or five accused,” said Begum, from Kerala Police.

Many of the men contacted the young girl on her father’s phone, through social media apps such as Instagram and WhatsApp, late at night after he went to sleep, police said.

The alleged abuse took place in private and public spaces, in homes and in cars, at bus stops and in fields. Some of the cases allegedly involved men who were strangers, living in towns dozens of miles away.

Some of the cases involve allegations of human trafficking, because the men forced the girl to travel outside her village, police said.

The allegations have sent shock waves through the girl’s village in the green hills of Kerala, where many work as wage laborers in low-paid jobs like construction and farming.

Police say the girl’s parents worked long hours and did not know about the alleged abuse of their daughter.

When the allegations emerged in January, some women in the community were sympathetic toward the accused and angry at the survivor, according to local media outlet The News Minute.

The women criticized the girl’s clothing and lifestyle and blamed her mother for not watching over her more closely, The News Minute reported.

One mother, whose son was among the accused, said he was innocent. She said he had known the girl since she was a baby and “had raised the girl in his arms,” according to the outlet.

‘Monsters in her own backyard’

More than half of Dalits in Kerala live in designated areas called “colonies,” known for cramped and harsh living conditions, after years of being denied land ownership under historical laws.

Madhumita Pandey, a professor in criminology and gender justice at Sheffield Hallam University in the United Kingdom, said the tight-knit nature of communities such as these colonies could explain why the alleged abuse of the teenage girl was not reported until recently.

“They could sometimes be your friend, uncle or neighbor,” she said.

It can be harder to report abuse when “the so-called monsters are in our own backyard,” she said.

Official statistics support her point: the alleged perpetrator is known to the victim in more than 98% of reported rape cases in Kerala, according to government data.

There were 4,241 reported cases of rape against women from oppressed castes in India, including Dalit women, in 2022, the most recent year for which data exists, according to India’s National Crime Records Bureau. That’s equivalent to more than 10 rapes per day.

There were more than 31,500 rapes reported overall in 2022, according to the NCRB.

However, given the difficulties in reporting such crimes, especially for the Dalit community, the true figure is likely higher.

Furthermore, in close communities, and especially in Dalit communities, women and girls also risk isolating themselves or being seen as bringing dishonor upon their families if they report abuse, Pandey said.

In at least 16 of the cases from the alleged Kerala village abuse, the accused men are from more privileged castes, according to police. If found guilty, these men could face harsher punishments under Indian laws designed to protect disadvantaged castes.

A 2020 report by the NGO Equality Now found that sexual violence is used by dominant castes to oppress Dalit women and girls, who are often denied justice because of a “prevalent culture of impunity, particularly when the perpetrators are from a dominant caste.”

Even when Dalit women report sexual abuse, they face an uphill battle to justice.

The Equality Now report followed 40 cases of rape against Dalit women and girls, and the seven cases that resulted in convictions involved either rape and murder together or were committed against girls under the age of 6.

N Rajeev, the head of the Child Welfare Committee in Pathanamthitta, the Kerala district where the girl is from, said an increase in reported child sexual abuse cases was in part thanks to campaigns in schools that help children identify and disclose abuse. The number of reported child sexual abuse cases in the state has surged to 4,663 in 2023, more than four times the 1,002 reported in 2013, according to government data.

The Dalit girl is now living in a shelter where she is receiving counseling and support, Begum, the police officer, said. The girl’s mother is also being given counseling and has the option to stay in a women’s shelter if she feels unsafe in the neighborhood. Begum said police have dedicated “maximum manpower” to the case.

The case will likely take years to go through the courts.

Across India, rape has one of the lowest conviction rates of major crimes, with 27% of cases resulting in convictions in 2022, according to the NCRB.

While child sexual abuse continues to be a “a grim reality” in Kerala, the fact that the Dalit girl was able to report the case is a step in the right direction, Stephen said.

“Otherwise, this would have just gone on unreported for years on end, then she would have nobody to help her.”

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