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June 18, 2025

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Follow along with Frank as he presents the outlook for the S&P 500, using three key charts to spot bullish breakouts, pullback zones, and MACD signals. Frank compares bearish and bullish setups using his pattern grid, analyzing which of the two is on top, and explains why he’s eyeing SMCI and AMD as potential trades. From there, he wraps the show with a look at some ETF plays.

This video originally premiered on June 17, 2025.

You can view previously recorded videos from Frank and other industry experts at this link.

The U3O8 spot price climbed sharply to kick off the week, hitting US$76.21 per pound.

Its Monday (June 16) rise is a 9.7 percent gain from the previous week’s close of US$69.47, and came after news that the Sprott Physical Uranium Trust (TSX:U.U,OTCQX:SRUUF) had penned a US$100 million bought-deal financing.

The financing was upsized to US$200 million the same day ‘as a result of strong investor demand.’

Sprott (TSX:SII,NYSE:SII), acting on behalf of the trust, confirmed the agreement, which will see Canaccord Genuity Group (TSX:CF,OTC Pink:CCORF) purchase 11,600,000 units of the trust at a price of US$17.25 each.

The offering, expected to close by June 20 pending regulatory approvals, will fund purchases of uranium oxide concentrates and uranium hexafluoride, in line with the trust’s mandate to hold physical uranium.

The news sparked a rally in uranium stocks on Monday.

On the TSX, major miner Cameco (TSX:CCO,NYSE:CCJ) rose just over 6.5 percent, while NexGen Energy (TSX:NXE,NYSE:NXE) was up 8 percent. Uranium Energy (NYSEAMERICAN:UEC) was up 12.64 percent in the US, and Denison Mines (TSX:DML,NYSEAMERICAN:DNN) jumped 14.8 percent on the TSX.

In Australia, Deep Yellow (ASX:DYLASX:DYL,OTCQX:DYLLF) surged more than 21 percent, while Boss Energy (ASX:BOE,OTCQX:BQSSF) jumped nearly 18 percent and Paladin Energy (ASX:PDN,OTCQX:PALAF) climbed over 15 percent amid investor optimism that the fresh capital injection could tighten the uranium spot market.

The Sprott trust, launched in 2021 and often referred to as SPUT, has been a key player in physically sequestering uranium from global markets, helping to reduce available supply and influence spot pricing trends.

After reaching a 14 year high of US$82 in early 2024, uranium prices trended downward, falling as low as US$64.30 this year. Despite the consolidation phase, experts believe the long-term outlook is positive.

The deal marks one of the most significant capital raises for uranium buying in 2025, and reflects growing institutional confidence in the long-term viability of nuclear energy as part of the clean energy transition.

SPUT’s move also comes amid momentum in US uranium policy. In late May, US President Donald Trump signed a series of executive orders aimed at revitalizing America’s nuclear energy sector. The orders are intended to ramp up domestic uranium production to meet growing power demands, especially from artificial intelligence data centers.

Tech giants like Microsoft (NASDAQ:MSFT), Google and Amazon (NASDAQ:AMZN) have all done nuclear power deals for data centers, honing in on nuclear as a viable solution for their zero-carbon baseload energy needs.

For now, Sprott’s buying spree offers a test of how tight the uranium market really is. With settlement set for later this week, attention will turn to whether its uranium purchases trigger further positive price activity.

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

This post appeared first on investingnews.com

Melbourne, Australia (ABN Newswire) – Lithium Universe Limited (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) has entered into a binding agreement to acquire the global rights to commercially exploit a patented photovoltaic (‘PV’) solar panel recycling technology known as ‘Microwave Joule Heating Technology’ (‘MJHT’ or the ‘Technology’).

Highlights

– Agreement to acquire global rights photovoltaic (PV) solar panel recycling technology

– ‘Microwave Joule Heating Technology’ (MJHT) from Macquarie University

– Utilises microwave technology to selectively heat and delaminate PV cells

– 60-78 million tonnes of waste photovoltaic (PV) modules cumulated by 2050

– Today only 15% of waste solar cells are recycled worldwide

– Most end up in land fill as valuable waste

– Hard to recycle, high temperature furnace, toxic chemicals, low recovery

– MJHT and Delamination enables selective separation of materials – higher recoveries

– To investigate further recovery of silver, silicon, gallium and indium

– Binding commitments received to raise $1.7 million via placement to existing and new sophisticated and professional investors

The rights will be secured via an exclusive licensing agreement (‘Licensing Agreement’) with Macquarie University (‘MQU’), held through an Australian-incorporated holding company, New Age Minerals Pty Ltd (‘NAM’). The key terms of the Licensing Agreement are set out in Schedule 1*. The transaction will be effected by LU7 acquiring 100% of the issued share capital of NAM (‘Proposed Transaction’).

The basis of the technology platform utilises microwave technology to selectively heat silicon thereby softening the EVA encapsulant in solar panels, enabling easy delamination and potential recovery of valuable materials at room temperature. This approach avoids the need for extreme heat (1400degC) typically required for separating materials like glass and silicon as well as the use of costly hazardous chemicals in traditional processes. Delamination enables selective separation of materials without the need for mechanical crushing, whereas traditional crushing methods often result in cross-contaminated material and lower recovery rates.

A report published by the International Energy Agency Photovoltaic Power Systems Programme1 projected that global waste PV modules will amount to 1.7-8.0 million tonnes cumulatively by 2030 and 60-78 million tonnes cumulatively by 2050. By 2035, Australia is expected to accumulate 1 million tonnes of solar panel waste worth over A$1 billion, while the global CIGS (Copper, Indium, Gallium, Selenide) solar cell market is projected to grow to US$12.23 billion by 2032.

Currently, only 15% of used PV cells are recycled, with the rest accumulating in landfills.

This low recycling rate is due to complex processes, high-temperature furnaces, toxic chemicals, and poor recovery yields. The Technology, developed by MQU, enhances the extraction of valuable metals such as silver, silicon, gallium, and indium from discarded PV panels using microwave and delaminating techniques. The breakthrough technology offers a promising new approach for enhanced recovery of valuable metals like Silver, Silicon, Gallium, and Indium. The Company plans to initiate further research and development in this area.

THE PROBLEM TODAY

The world’s renewable energy transition is moving fast, with large-scale PV solar panels playing a central role in national energy strategies. The global solar cell market is projected to hit US$39.81 billion by 2037, growing at a compound annual growth rate (CAGR) of around 8.2%.

Approximately 37% of Australian households have installed solar panels. This represents over 4 million homes and small businesses with solar power systems. The Clean Energy Council reports that 12.4% of Australia’s electricity generation in 2024 came from rooftop solar.

However, as these panels approach the end of their 25-30-year lifespan, the industry faces a growing challenge: managing solar panel waste and recovering valuable materials. A report published by International Energy Agency Photovoltaic Power Systems Programme (IEA PVPS) Task12 and the International Renewable Energy Agency (IRENA) in 2016 projected world’s waste PV modules globally to amount to 1,7-8,0 million tonnes cumulatively by 2030 and to 60-78 million tonnes cumulatively by 2050. By 2035, Australia alone is expected to accumulate 1 million tonnes of end-of-life solar panels, with a total material value of over $1 billion. By 2045, Australia could be looking at 34.6 GW of serviceable panels that will need to be recycled or repurposed, equivalent to the total installed solar capacity in the country as of August 2024.

LOW RECYCLING RATES

The global recycling rate for PV solar panels is around 15%, driven by several challenges. The recycling process is complex, requiring high temperatures and toxic chemicals, making it costly and energy intensive. Economic incentives are limited as the recovery of valuable materials like silicon does not provide sufficient financial returns. However, if recycling technologies can effectively attract and recover critical materials like silver, silicon, gallium, and indium, the financial viability of recycling improves, driving higher recycling rates.

Additionally, the lack of recycling infrastructure and the diverse materials in panels further complicate efficient separation, but advancements in technology are addressing these issues.

When waste PV cells aren’t recycled, they often end up in landfills, causing numerous environmental problems.

Panels can contain harmful materials like cadmium and lead, which may leak into the ground and water, posing risks to both ecosystems and human health. Valuable metals like silver, silicon, gallium, and indium are lost, adding to the strain on natural resources. As more solar panels reach the end of their life, landfills fill up, and the energy stored in these materials is wasted. Recycling can help solve these issues by recovering critical materials and cutting down on pollution.

POTENTIAL GROWTH OF PV RECYCLING INDUSTRY

The nascent PV solar panel recycling industry is experiencing rapid growth due to the increasing demand for critical metals such as silicon, silver, and indium, which hold substantial economic value. As the market for endof-life (EoL) solar panels expands, driven by both economic opportunities and environmental needs, the recovery of these materials is becoming a lucrative business. The market for recyclable materials from EoL solar panels is projected to reach over $2.7 billion by 2030 and could approach $80 billion by 2050, according to Rystad Energy. This growth is further fuelled by the fact that recovering materials from used panels can offset the need for costly and environmentally damaging virgin material extraction. Additionally, recycling helps secure a domestic supply of critical metals, reducing reliance on volatile foreign sources. Advancements in recycling technology, particularly in recovering high-value materials like silicon and silver, are making these processes more economically viable and environmentally necessary. Research has demonstrated that up to 98% of silver and nearly all of copper, lead, and other valuable metals can be recovered efficiently, enhancing the profitability of the recycling industry. As technology improves, the recycling of PV panels will play a crucial role in supporting the transition to a circular economy and sustainable energy future.

CRITICAL METALS IN PV CELLS

As the demand for critical minerals continues to rise with the global shift to clean energy, the need to recover valuable materials from these panels becomes increasingly urgent. Solar panels are made up of 95% recyclable materials, including silver, aluminum, silicon, copper, indium, and gallium-all of which are vital to global clean energy supply chains. Rare metals like gallium are essential for solar fuel cells, semiconductor chips, and other high-tech applications, making their recovery from e-waste a key priority.

COMMENTS: EXECUTIVE CHAIRMAN, IGGY TAN

‘Now that we have completed our lithium refinery DFS and secured all necessary components-including land and partnerships-we are positioned and ready for a lithium price recovery. We are confident in our counter-cyclical strategy and firmly believe that LU7 will benefit significantly when the lithium market rebounds. While awaiting this recovery, we have been presented with an exciting opportunity to acquire a cutting-edge photovoltaic recycling technology’.

‘I am thrilled about the acquisition of Macquarie University’s Microwave Joule Heating Technology (MJHT) and the opportunity to potentially extract critical metals such as silver from solar panel recycling.

The need for effective PV recycling has never been greater, with only 15% of panels currently being recycled. The mass accumulation of solar panel waste in landfills is a growing problem, as valuable critical metals like silver, silicon, gallium, and indium are left behind, contributing to both resource depletion and environmental harm. Microwave technology offers a promising solution to these challenges, enabling higher recovery rates and more sustainable recycling processes. We firmly believe that this technology represents the future of solar panel waste management. We are eager to collaborate with the Macquarie team to develop a more efficient and cost-effective recycling process’.

*To view the full release with tables and figures, please visit:
https://abnnewswire.net/lnk/A0938OHA

To view the Market Presentation, please visit:
https://www.abnnewswire.net/lnk/JJ10ITOI

About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe’s mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.

Source:
Lithium Universe Ltd

Contact:
Alex Hanly
Chief Executive Officer
Lithium Universe Limited
Tel: +61 448 418 725
Email: info@lithiumuniverse.com

Iggy Tan
Chairman
Lithium Universe Limited
Email: info@lithiumuniverse.com

News Provided by ABN Newswire via QuoteMedia

This post appeared first on investingnews.com

Adelaide, Australia (ABN Newswire) – Resolution Minerals Ltd (ASX:RML) (FRA:NC3) (OTCMKTS:RLMLF) is pleased to announce the selection of Clewett Global Services as external affairs advisers to support the development of the Horse Heaven Antimony-Gold-Silver-Tungsten project in Idaho, USA.

Highlights

– Engagement in Washington D.C. is a critical step in positioning RML as a trusted partner in the U.S. critical minerals supply chain

– Resolution to consider applying for U.S. Department of Defense (DOD) funding to expedite Horse Heaven Project in Idaho

– Neighbouring Perpetua Resources (PPTA.NAS) was fast-tracked for development in April 2025, and received up to US$74 million in DOD funding, highlighting strong U.S. Government commitment and support for antimony and other critical metal projects

– By aligning with U.S. Government strategic priorities, RML is actively enhancing its ability to progress Horse Heaven on a faster schedule

– Antimony, Silver, Gold and Tungsten trading at record-high prices

CLEWETT GLOBAL SERVICES APPOINTED TO WORK WITH RESOLUTION TO DEVELOP U.S. GOVERNMENT ENGAGEMENT STRATEGY

The Horse Heaven Project is located directly adjacent to NASDAQ-listed Perpetua Resources’ $2 billion Stibnite Gold and Antimony Project, which recently gained final record of decision approval from the U.S. Forest Service.

Horse Heaven has strong gold, antimony and silver mineralisation in two highly prospective structurally controlled mineralised corridors, and includes past-producing antimony, tungsten and gold mines.

Historical exploration results from Horse Heaven are highly encouraging and indicate similar geological characteristics to the neighbouring Stibnite project.

Given the importance of antimony to the U.S. Government’s critical minerals strategy, Resolution Minerals is excited to develop the Horse Heaven Project and will be actively seeking the support of the U.S. Government to expedite its progress.

Founding Partner of Clewett Global Services, Todd Clewett, is a seasoned external affairs executive with a track record of success in engaging decision makers in Washington D.C. regarding mining and critical minerals projects. Clewett formerly headed up the external affairs function for both Newmont Corporation and Fortescue.

Background

The U.S. government has prioritised domestic and allied sources of key minerals such as antimony, tungsten and gallium recognising their importance to defense applications and renewable technologies.

Until now, the U.S. has relied mainly on China for the supply of many critical metals. Following China’s total ban on exports of these metals to the U.S. in late 2024, a priority of the new Administration is to shore up its own domestic supply chains of these materials.

Fast-41 Program

The FAST-41 program, established by Title 41 of the Fixing America’s Surface Transportation Act (FAST Act), is a program designed to improve the timeliness, predictability, and transparency of the federal environmental review and permitting process.

FAST-41 is designed to streamline and expedite the permitting process for infrastructure and mining projects deemed nationally significant. FAST-41 can offer benefits to project developers, including increased predictability, transparency and faster decision-making.

Some projects currently covered under FAST-41 include:

– Perpetua Resources’ (PPTA.NAS) Stibnite Gold Project in Idaho

– Stillwater Palladium & Platinum Project in Montana

– Jindalee Resources’ (ASX:JLL) McDermitt Lithium Project in Oregon

– BPH and RIO’s Resolution Copper Project in Arizona

– South32’s (ASX:S32) Hermosa Critical Minerals Project in Arizona

Resolution Minerals’ efforts to participate in the FAST-41 program follow the precedent set in April this year by next-door neighbour, NASDAQ-listed Perpetua Resources (PPTA.NAS), whose Stibnite Gold Project in Idaho became the first mining project accepted under FAST-41, and by ASX-listed Jindalee Lithium Limited (ASX:JLL), whose McDermitt Lithium Project in Oregon was also successfully fasttracked under FAST-41 in April.

2025 Budget Reconciliation Bill (‘Big Beautiful Bill’)

The proposed 2025 Budget Reconciliation Bill includes US$2.5 billion to support U.S. production of critical minerals via the National Defense Stockpile. In addition, there is US$500 million allocated to the Department of Defense Credit Program for loans, loan guarantees, and technical assistance aimed at developing reliable sources of critical minerals – both within the U.S. and among key international allies.

Congress is expected to pass this bill (in some form) by the end of July 2025. Resolution has commenced plans to pursue all its available options to apply for funding that may become available upon passing of this proposed bill.

Resolution is considering opportunities under the U.S. Department of Defense’s Title III and Industrial Base Analysis and Sustainment (IBAS) programs, which support the development of reliable and resilient supply chains for critical minerals.

RML’s Executive Director, Aharon Zaetz commented:

‘We are extremely honoured for Todd Clewett to want to work with us. We feel very excited that he shares the enthusiasm for the Horse Heaven project and sees the massive potential here. Todd’s experience in working with governments to develop mining projects will be an invaluable asset to RML.

Todd’s experience, knowledge and network in the White House provides him with an extremely rare and unique skillset that RML shareholders are extremely privileged to benefit from.

About Resolution Minerals Ltd:  

Resolution Minerals Ltd (ASX:RML) is a mineral exploration company engaged in the acquisition, exploration and development of precious and battery metals – such as antimony, gold, copper, and uranium.

Resolution Minerals Ltd Listed on the ASX in 2017 and has a broad portfolio of assets, such as the Drake East Antimony-Gold Project in north-eastern NSW and George Project prospective for silica sand and uranium.

Source:
Resolution Minerals Ltd

Contact:
Aharon Zaetz
Executive Director
Resolution Minerals Ltd
M: +61 424 743 098
ari@resolutionminerals.com

Jane Morgan
Investor Relations
Jane Morgan Management
M: +61 405 555 618
jm@janemorganmanagement.com.au

News Provided by ABN Newswire via QuoteMedia

This post appeared first on investingnews.com

Benjamin Netanyahu is once again firmly in control of Israeli politics.

The country’s longest-serving prime minister has pulled himself back from the abyss with what appears to be a wildly successful opening to a military campaign against Iran.

“Bibi had his Churchill moment,” said one Israeli official from within the coalition, using the prime minister’s nickname.

One day before launching what Israel dubbed Operation Rising Lion, Netanyahu’s government had faced a confidence vote from the opposition.

Two of the ultra-Orthodox parties threatened to vote against the government in what would have put major pressure on Netanyahu. But he survived the vote – with quite some margin.

Twenty-four hours later, Israel began attacking Iran. In one instant, Netanyahu’s political problems were swept away. No more ultra-Orthodox parties complaining about the military draft or far-right parties shouting about praying in the al-Aqsa compound.

“The cards are in his hands. If they weren’t a week ago, they are now,” said the official.

The weekly political protests – first over the judicial reform, then over the war in Gaza – that have dogged Netanyahu for much of his current term quickly vanished, with orders from Israel’s Homefront Command forbidding large gatherings of people. Netanyahu’s testimony in his trial on charges of corruption is on hold and out of the headlines. The stories of the hostages still held in Gaza for more than 600 days of war are no longer front-page news.

Netanyahu is well aware of the political consequences of such a successful military operation, according to an Israeli source in the prime minister’s orbit, though the source insists it’s not his focus right now

“If we are doing something good for Israel, it’s good to us,” the source said. “It’s good for you electorally, it’s good for you with the voters … He will harvest this in the future.”

The source also pointed out the complete reversal of the political opposition from attacking Netanyahu to supporting him.

“This time, we have unity almost all over the Knesset, except from the Arab parties, and we have unity in the people,” said the source.

Iran has been at the center of Netanyahu’s identity for nearly his entire political career. His time as Israel’s longest-serving leader is replete with warnings about Iran. Some have been borderline cartoonish, like when he held up a drawing of a bomb to warn of Tehran’s advancing nuclear program at the United Nations General Assembly in 2012. He has since returned to the same podium – and many others – to lecture the world repeatedly about the intent of the Ayatollahs.

Israel’s existential fear wasn’t a single one of its adversaries. It was all of them combined: an overwhelming attack from Hamas, Hezbollah, Iran and the Shiite proxies in Syria and Iraq. This was Israel’s nightmare scenario that Hamas tried to instigate with its attack on Israel on October 7, 2023.

It quickly became evident that each entity had its own interests.

Hezbollah began launching attacks against Israel on October 8, but it was far from the massive barrages which worried the military’s leadership. Iran launched two retaliatory attacks against Israel last year in April and October. The Houthis began firing drones and ballistic missiles at Israel from Yemen, but never more than one or two at a time.

Over 20 months of war, Israel was able to defang each of its adversaries. Hamas is a shell of its former self, Hezbollah has been shattered, and the Houthis don’t have the arsenal to pose a major threat.

That allowed Israel to turn its focus to Iran without fear of massive retaliation from another front. From Netanyahu’s political perspective, the risk was far lower, especially since Israel’s spy agency has treated Iran like its playground for years.

“At his age, he has much less of a political career left to lose,” Shapiro said. “So it’s easier to throw the caution that held him back in the past to the wind, especially to reach for a career-defining goal.”

But whether the military campaign against Iran buoys Netanyahu’s long-sinking polling numbers is not a foregone conclusion, according to Yohanan Plesner, president of the Israeli Democracy Institute.

Polling in recent months has repeatedly shown Netanyahu far behind political rival Naftali Bennett. Crucially, it has indicated he would fall far short of being able to build a coalition with his current political partners, ousting him from leadership.

The Iran operation may not ultimately deliver the political salvation Netanyahu wants, Plesner said, because it is an issue with broad agreement from the left and the right.

Israel is also mired in the ongoing war in Gaza with no clear exit and lacking a comprehensive day-after plan. A second war, even with far more tangible accomplishments, presents another risk to Netanyahu if it drags on.

“The ability of the government to translate the military successes into an advantageous diplomatic outcome is yet to be determined,” said Plesner.

This post appeared first on cnn.com

Spain’s government said Tuesday that the massive April power outage across Spain and Portugal that left tens of millions of people disconnected in seconds was caused by technical and planning errors that left the grid unable to handle a surge in voltage.

Ecological Transition Minister Sara Aagesen, who manages the nation’s energy policy, told reporters that a voltage surge led to small grid failures, mainly in the south of Spain, which then cascaded to larger ones and brought the system down in the two Iberian Peninsula nations.

She ruled out that the failure was due to a cyberattack.

The outage began shortly after noon on April 28 in Spain and lasted through nightfall, disrupting businesses, transit systems, cellular networks, internet connectivity and other critical infrastructure. Spain lost 15 gigawatts of electricity — or about 60% of its supply. Portugal, whose grid is connected to Spain’s, also went down. Only the countries’ island territories were spared.

“All of this happened in 12 seconds, with most of the power loss happening in just five seconds,” Aagesen said.

Several technical causes contributed to the event, including “poor planning” by Spain’s grid operator Red Eléctrica, which didn’t find a replacement for one power plant that was supposed to help balance power fluctuations, the minister said. She also said that some power plants that utilities shut off preventively when the disruptions started could have stayed online to help manage the system.

Power was fully restored by the early hours of the following day.

The government’s report will be released later on Tuesday – 49 days after the event – and included analysis from Spain’s national security agencies, which concluded, according to the minister, there were no indications of cyber-sabotage by foreign actors.

The government had previously narrowed down the source of the outage to three power plants that tripped in southern Spain.

In the weeks following the blackout, citizens and experts were left wondering what triggered the event in a region not known for power cuts. The outage ignited a fierce debate about whether Spain’s high levels of renewable power and not enough energy generated from nuclear or gas-fired power plants had something to do with the grid failing, which the government has repeatedly denied.

Spain is at the forefront of Europe’s transition to renewable energy, having generated nearly 57% of its electricity in 2024 from renewable energy sources like wind, hydropower and solar. The country is also phasing out its nuclear plants.

Spanish Prime Minister Pedro Sánchez pushed back against such speculation and defended the country’s rapid ramping up of renewables. He asked for patience and said that his government would not “deviate a single millimeter” from its energy transition plans, which include a goal of generating 81% of its electricity from renewable sources by 2030.

This post appeared first on cnn.com

For the first time since the global outbreak of Covid-19, researchers claim to have pierced North Korea’s ironclad information blockade to reveal how some ordinary citizens endured the pandemic.

While Pyongyang insisted for more than two years that not a single case had breached its hermetically sealed borders, a new report paints a far darker picture, of a deadly wave of largely untreated illness that swept the country, but was barely talked about.

The 26-page report also details testimony of deaths by counterfeit or self-prescribed medicine, and official denial leading to a culture of dishonesty.

“Doctors were lying to the patients. Village leaders were lying to the party. And the government was lying to everybody,” said Dr. Victor Cha, one of the report’s lead authors.

Released by the Washington-based Center for Strategic and International Studies (CSIS) in partnership with the George W. Bush Institute, the paper is based on 100 in-person interviews conducted discreetly inside North Korea between September and December 2023.

The testimony – gathered through informal, conversational methods known as “snowball sampling” – span all nine provinces and the capital Pyongyang. The result is what the authors describe as “arguably the first glimpse” inside the country’s most extreme period of isolation in modern history.

Snowball sampling is a recruitment method often used when studying hidden or hard-to-access populations. Researchers begin by identifying one or two trusted participants, who then refer them to others in their networks. Over time, the pool of participants “snowballs,” growing through word-of-mouth and personal trust.

While it lacks the scientific rigor of more conventional surveys, this method is often the only way of getting raw, subjective testimony from people living in repressive and totalitarian states, such as North Korea.

Cha, a former White House adviser and Korea Chair at CSIS, said the findings were evidence of “a total failure on the part of the government to do anything for the people during the pandemic.”

“Everybody was effectively lying to everybody during the pandemic,” he said. “Because of a government policy that said there was no COVID in the country. When they knew there was.”

Cha said Pyongyang’s policy of denial didn’t just attempt to deceive the outside world – it forced North Korea’s more than 26 million people into mutually enforced silence.

When North Korea closed its borders in early 2020 – as the virus made its way across the globe, on its way to infecting and killing millions – state media claimed it had kept the virus out entirely; no infections, no deaths. The world was skeptical. But the regime’s total control over borders and information made independent verification nearly impossible.

Two years later, North Korean television aired scenes of a military parade in Pyongyang. Crowds filled Kim Il Sung Square. Masks were scarce. Not long after, reports of a mysterious “fever outbreak” began appearing in state media. By early May, Pyongyang confirmed its first Covid-19 case. Three months later, it declared victory – claiming just 74 deaths out of nearly 5 million “fever” cases.

But according to the new survey, Covid-19 had by that point been circulating widely inside the country for at least two years.

Ninety-two percent of respondents said they or someone close to them had been infected. Most said 2020 and 2021 – not 2022 – were when outbreaks were at their worst.

“Fevers were happening everywhere, and many people were dying within a few days,” one participant reported. Another, a soldier, described a military communications battalion in which more than half the unit – about 400 soldiers – fell ill by late 2021. In prisons, schools, and food factories, respondents described people collapsing or missing days of work due to fever.

Even under normal conditions, the country’s isolated and underfunded healthcare system struggles to meet the needs of its people. But a pandemic-level event, coupled with official denial and an initial refusal to accept foreign vaccines, left people dangerously exposed, the report claims.

With virtually no access to testing, diagnoses came from Covid-19 symptoms that most of the world had grown familiar with: fever, cough, shortness of breath. Some respondents said even these symptoms were taboo. One woman recalled being told by a doctor that if she said she had those symptoms, “you will be taken away.” Another said bluntly: “They told me it’s a cold, but I knew it was COVID.”

In place of official care, citizens turned to folk medicine: saltwater rinses, garlic necklaces, even opium injections. One woman said her child died after being given the wrong dosage of adult medication. Another respondent described neighbors overdosing on counterfeit Chinese drugs. In total, one in five respondents reported seeing or hearing of deaths due to misuse of medication or fake pharmaceuticals.

Protective gear was nearly nonexistent. Just 8% of respondents said they received masks from the government. Many made their own, reused them, or bought them at black-market prices. One mother said her children had to sew their own because adult-issued masks were too big.

Cha says the failure was not just in what the government withheld, but in how it blocked the kind of grassroots survival that had helped North Korea’s “resourceful” citizens endure past disasters – including the 1990s famine, known inside the country as the “Arduous March.” That crisis gave rise to private marketplaces, which emerged as a lifeline when the state-run ration system collapsed. During the pandemic, however, those markets were shut down – officially to contain the virus, but also, Cha suggests, to limit the spread of information.

“They didn’t allow the people to find coping mechanisms,” he said. “Just shut them down, quarantine them, lock them down – and then provided them with nothing.”

The suffering extended beyond illness. With internal travel banned and markets shuttered, food shortages became acute. Eighty-one percent of those surveyed said they faced hunger. Respondents spoke of trying to survive quarantine periods with no rations, no access to medicine, and no way to seek help.

The rationing system, long unreliable, collapsed entirely under the weight of the lockdown. “If you didn’t have emergency food at home, it was really tough,” one soldier said.

Eighty-seven percent of respondents said they had no access to Covid tests at any point in the pandemic. Fewer than 20% received any vaccine — and most of those were administered only after Pyongyang acknowledged the outbreak in 2022 and accepted limited Chinese assistance. Soldiers reported receiving three shots as part of a campaign later that year. Civilian respondents described group vaccinations administered at schools or workplaces – months after the rest of the world had rolled out full vaccination programs.

Even the basic act of reporting illness became a risk. According to the report, local clinics and neighborhood watch units were required to report cases to central authorities. But only 41% of respondents ever received any information about those reports. Most said the results were either never shared or filtered through rumor. One respondent said: “I realized that serious illnesses and deaths were not reported because they were told not to call it COVID.”

This system of denial created what Cha calls a “double lie”: the government lied to its people, and the people lied to each other and to their government – each trying to avoid quarantine, censure, or worse.

The survey also documented a deep well of frustration with the regime’s response – and its propaganda. One participant said: “Our country can build nuclear weapons, but they can’t give us vaccines.” Others noted the contrast between their conditions and what they heard about other countries: free testing, access to medicine, the ability to travel.

In one of the report’s most striking findings, 83% of respondents said their experience did not align with what the government or its leader Kim Jong Un told them. More than half said they explicitly disbelieved the regime’s Covid-related announcements.

“When I saw the Supreme Leader touting his love for the people, while so many were dying without medicine,” one respondent said, “I thought of all the people who didn’t survive.”

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India and Canada signaled a reset of relations on Tuesday, agreeing to reestablish high commissions in each other’s capitals, after nearly two years of strained ties following Ottawa’s accusations that New Delhi was allegedly involved in the killing of a Sikh separatist on its soil.

Indian Prime Minister Narendra Modi and his Canadian counterpart Mark Carney, who took office in March, announced the move after meeting on the sidelines of the Group of 7 summit in the Canadian Rockies.

Ottawa and New Delhi agreed to “designate new high commissioners, with a view to returning to regular services to citizens and business in both countries,” according to a statement from Carney’s office following their meeting

The move comes nearly two years after former Canadian Prime Minister Justin Trudeau and other Canadian officials publicly accused New Delhi of being involved in the murder of prominent Sikh separatist and Canadian citizen, Hardeep Singh Nijjar, in a Vancouver suburb in 2023.

Canadian authorities said they shared evidence of that with Indian authorities. However, Indian government officials repeatedly denied Canada had provided evidence and called the allegations “absurd and motivated.”

Relations between both countries plummeted in the wake of the accusation, prompting tit-for-tat diplomatic expulsions, the temporary suspension of visa services and allegations from India of Canada harboring “terrorists” and encouraging “anti-India activities” – a claim the Canadian government rejects.

Carney invited the leaders of several other nonmember countries — Brazil, South Africa, Mexico, Ukraine, Australia and South Korea — to also attend this year’s gathering.

There were no signs of tension on Tuesday as Modi and Carney shook hands in the western Canadian province of Alberta with the Canadian prime minister calling it a “great honor” to host the Indian leader at the G7.

“India has been coming to the G7 I believe since 2018… and it’s a testament to the importance of your country, to your leadership and to the importance of the issues that we look to tackle together,” Carney told reporters.

Modi’s comments toward Carney were similarly welcoming.

“Had an excellent meeting with Prime Minister Mark Carney,” he wrote on X. “India and Canada are connected by a strong belief in democracy, freedom and rule of law. PM Carney and I look forward to working closely to add momentum to the India-Canada friendship.”

The Canadian prime minister’s office said the two discussed opportunities to “deepen engagement” in areas such as technology, the digital transition, food security, and critical minerals.

Neither leader publicly mentioned discussing recent strained relations or the killing of Nijjar.

Nijjar, who was gunned down by masked men in June 2023 outside a Sikh temple in Surrey, British Columbia, was a prominent campaigner for an independent Sikh homeland in northern India, which would be known as Khalistan.

Campaigning for the creation of Khalistan has long been considered by New Delhi as a national security threat and outlawed in India – and a number of groups associated with the movement are listed as “terrorist organizations” under Indian law.

But the movement garners a level of sympathy from some in the Sikh community, especially in the diaspora, where activists protected by free speech laws can more openly demand secession from India.

Some demonstrators expressed outrage over Modi’s visit, while others demanded justice over Nijjar’s killing.

When asked about the murder of Nijjar during a news conference after speaking with Modi, Carney said: “There is a judicial process that’s underway, and I need to be careful about further commentary.”

Carney also told CBC’s Radio-Canada last week that he had spoken with Modi about Nijjar, when asked about the Sikh separatist and ongoing police investigation.

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