Altech Batteries (ATC:AU) has announced Altech – SNC Batteries Outstanding Safety Destructve Testing
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Altech Batteries (ATC:AU) has announced Altech – SNC Batteries Outstanding Safety Destructve Testing
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Astral Resources (AAR:AU) has announced Key Appointments to Advance Mandilla Gold Project
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TSX-V: WLR
Frankfurt: 6YL
Walker Lane Resources Ltd. (TSXV: WLR,OTC:CMCXF) (Frankfurt: 6YL); ‘Walker Lane’) is pleased to announce that Precision Geosurveys Inc. has been contracted to complete an airborne total magnetic field and radiometric survey on its Tule canyon Project located in the prolific Walker Lane Gold Trend.
Precision Geosurveys Inc. of Reno, NV and Langley, BC will commence the airborne survey in the next few days following completion of ongoing surveys by Precision in the Tonopah area of west central Nevada. A total of 212 line-kilometers will be flown along lines spaced 100 meters apart, 30 meters above ground level. The results are anticipated to be useful in mapping the complex altered volcanic stratigraphy present on the property and to contribute information that will further pinpoint proposed drill targets on the property.
Mr. Kevin Brewer, P.Geo President and CEO of Walker Lane Resources Ltd. noted that ‘We are very excited to be commencing exploration at the Tule Canyon project. We thank Silver Range Resources for helping to coordinate this work. Their efforts are testimony to our shared belief that Tule Canyon holds significant promise. We look forward to soon being able to confirm a drilling program for this project in the near future.’
About the Tule Canyon Property
The Tule Canyon Property sits astride a prominent deflection in the regional magnetic field associated with the underlying Sylvania Pluton. High grade gold and silver mineralization in the district is localized along this feature. The principal objectives of the survey will be to accurately map this deflection and to locate second order anomalies which may be associated with structurally controlled precious metal mineralization.
The Tule Canyon Property is 95 km south of Tonopah and 80 km northwest of Beatty near the Nevada–California border. Mineralization on the property occurs along a 5-kilometre-long trend coincident with a major structural inflection in the Sylvania Pluton mapped by regional aeromagnetic surveys. Gold and silver mineralization is hosted in numerous quartz veins with mesothermal textures. Precious metals are associated with hematite, pyrite, yellow plumbo-jarosite or similar lead oxides, rare galena and copper oxides. The western end of the trend covering the Ingall’s Vein and the China Doll zones are silver-dominant with mineralization returning up to 4,320 g/t Ag and up to 31.8 g/t Au. The eastern end of the trend is gold-dominant with assays up to 37.3 g/t Au at surface and 27.6 g/t Au underground. Silver assays from material collected in this eastern area range up to 183 g/t Ag.
Mining in Tule Canyon dates from prior to 1848 when Mexican placer miners first began work in the area. Hard rock mining on the property dates from the 1890’s at the Dark Secret Mine. Mining at the nearby Eastside Mine and the Ingalls Vein occurred during the late 1900’s with a small heap leach operation constructed at the latter property.
A small open pit mining operated at the Dark Secret Mine during the 1980’s and reportedly shipped material to Goldfield for processing. In the pit, coalescing veins appear to form a bulk tonnage target. A chip-trench sample across the bottom of the pit returned 40 m @ 0.469 g/t Au including 20 m @ 0.695 g/t Au. Grab samples of vein material in the pit returned up to 14.1 g/t Au. Despite the past history of mining and high-grade surface mineralization on the property, there is little evidence of modern exploration activity and no known drilling.
A video presentation describing results to date at Tule Canyon is available on Silver Range’s website at www.silverrangeresources.com and further information is also available on the Company website at www.walkerlaneresources.com.
Note: Technical information in this news release has been approved by Kevin Brewer, P.Geo who relied on information provided to him by Silver Range Resources Ltd. and information in the public domain. Historical information cited in this news release was obtained from Nevada Bureau of Mines and Geology district files and from historical publications. Investors should be cautioned that this information has not been independently verified by the Company.
About Walker Lane Resources Ltd.
Walker Lane Resources Ltd. is a growth-stage exploration company focused on the exploration of high-grade gold, silver and polymetallic deposits in the Walker Lane Gold Trend District in Nevada and the Rancheria Silver District in Yukon/B.C. and other property assets in Yukon. The Company intends to initiate an aggressive exploration program to advance the Tule Canyon (Walker Lane, Nevada) and Amy (Rancheria Silver District, B.C.) projects through drilling programs with the aim of achieving resource definition in the near future.
On behalf of the Board:
‘Kevin Brewer’
Kevin Brewer, President, CEO and Director
Walker Lane Resources Ltd.
Cautionary and Forward Looking Statements
This press release and related figures, contain certain forward-looking information and forward-looking statements as defined in applicable securities laws (collectively referred to as forward-looking statements). These statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. The use of any of the words ‘anticipate’, ‘plans’, ‘continue’, ‘estimate’, ‘expect’, ‘may’, ‘will’, ‘project’, ‘predict’, ‘potential’, ‘should’, ‘believe’ ‘targeted’, ‘can’, ‘anticipates’, ‘intends’, ‘likely’, ‘should’, ‘could’ or grammatical variations thereof and similar expressions is intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These statements speak only as of the date of this presentation. These forward-looking statements include, but are not limited to, statements concerning: our strategy and priorities including certain statements included in this presentation are forward-looking statements within the meaning of Canadian securities laws, including statements regarding the Tule Canyon, Cambridge, Silver Mountain, and Shamrock Properties in Nevada (USA), and its properties including Silverknife and Amy properties in British Columbia, the Silver Hart, Blue Heaven and Logjam properties in Yukon all of which now comprise the mineral property assets of WLR. WLR has assumed other assets of CMC Metals Ltd. including common share holdings of North Bay Resources Inc. (OTC-US: NBRI) and all conditions and agreements pertaining to the sale of the Bishop mill gold processing facility and remain subject to the condition of the option of the Silverknife property with Coeur Mining Inc. (TSX:CDE). These forward-looking statements reflect the Company’s current beliefs and are based on information currently available to the Company and assumptions the Company believes are reasonable. The Company has made various assumptions, including, among others, that: the historical information related to the Company’s properties is reliable; the Company’s operations are not disrupted or delayed by unusual geological or technical problems; the Company has the ability to explore the Company’s properties; the Company will be able to raise any necessary additional capital on reasonable terms to execute its business plan; the Company’s current corporate activities will proceed as expected; general business and economic conditions will not change in a material adverse manner; and budgeted costs and expenditures are and will continue to be accurate.
Actual results and developments may differ materially from results and developments discussed in the forward-looking statements as they are subject to a number of significant risks and uncertainties, including: public health threats; fluctuations in metals prices, price of consumed commodities and currency markets; future profitability of mining operations; access to personnel; results of exploration and development activities, accuracy of technical information; risks related to ownership of properties; risks related to mining operations; risks related to mineral resource figures being estimates based on interpretations and assumptions which may result in less mineral production under actual conditions than is currently anticipated; the interpretation of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; changes in operating expenses; changes in general market and industry conditions; changes in legal or regulatory requirements; other risk factors set out in this presentation; and other risk factors set out in the Company’s public disclosure documents. Although the Company has attempted to identify significant risks and uncertainties that could cause actual results to differ materially, there may be other risks that cause results not to be as anticipated, estimated or intended. Certain of these risks and uncertainties are beyond the Company’s control. Consequently, all of the forward-looking statements are qualified by these cautionary statements, and there can be no assurances that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences or benefits to, or effect on, the Company.
The information contained in this presentation is derived from management of the Company and otherwise from publicly available information and does not purport to contain all of the information that an investor may desire to have in evaluating the Company. The information has not been independently verified, may prove to be imprecise, and is subject to material updating, revision and further amendment. While management is not aware of any misstatements regarding any industry data presented herein, no representation or warranty, express or implied, is made or given by or on behalf of the Company as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any person for such information or opinions. The forward-looking statements and information in this presentation speak only as of the date of this presentation and the Company assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. Although the Company believes that the expectations reflected in the forward-looking statements and information are reasonable, there can be no assurance that such expectations will prove to be correct. Because of the risks, uncertainties and assumptions contained herein, prospective investors should not read forward-looking information as guarantees of future performance or results and should not place undue reliance on forward-looking information. Nothing in this presentation is, or should be relied upon as, a promise or representation as to the future. To the extent any forward-looking statement in this presentation constitutes ‘future-oriented financial information’ or ‘financial outlooks’ within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated market penetration and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation, based on the assumptions and subject to the risks set out above. The Company’s actual financial position and results of operations may differ materially from management’s current expectations and, as a result, the Company’s revenue and expenses. The Company’s financial projections were not prepared with a view toward compliance with published guidelines of International Financial Reporting Standards and have not been examined, reviewed or compiled by the Company’s accountants or auditors. The Company’s financial projections represent management’s estimates as of the dates indicated thereon.
SOURCE Walker Lane Resources Ltd
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Metals Focus published its annual Precious Metals Investment Focus report on Saturday (October 25).
The report from the leading gold analysis firm outlines the investment options available for those interested in leveraging rising demand for precious metals such as gold and silver. It also highlights key supply and demand trends shaping the precious metals market and driving prices now and over the next 12 months.
Gold surged over 65 percent from the start of 2025 to its record high of US$4,379.13 per ounce on October 17. Not to be outdone, silver skyrocketed more than 88 percent its highest-ever price of US$54.47 per ounce on the same day.
Although prices for both precious metals have since pulled back on profit taking, Metals Focus believes the conditions that created these record-high prices are still very much in play.
Metals Focus analysts attribute gold’s stellar performance in 2025 to a number of factors largely centered on growing global economic uncertainty and ongoing geopolitical conflicts. Gold’s safe-haven status is highly favored in these conditions, attracting both retail and institutional investors as well as central banks.
However, the firm sees US President Donald Trump’s trade policies as the most influential: “In our view, the single most important factor has been uncertainty around US trade policy.”
Trump’s constant trade war waffling has businesses and governments scrambling to keep up and unable to plan for the future. As tariffs increase the price of goods while disrupting supply chains, inflation is becoming stickier.
This is baking in more macroeconomic risks into the global economy, and in turn raising the risk for stagflation — an environment that experts agree is ideal for higher gold prices.
The US Federal Reserve’s reversal of its monetary policy in mid-September 2025 with its first interest rate cut and the anticipation of further rate cuts to come are further boosting the gold price. The sustainability of growing US debt and the waning strength of the US dollar on the global stage are also price supporting factors for the yellow metal.
Central bank gold buying, which has reached record levels in recent years, also continued to be net positive in 2025, further driving demand. “Put together, these drivers explain why gold has not only reached fresh highs in 2025, but also why pullbacks have been shallow and short-lived, as investors have been rushing to buy dips,” states Metals Focus.
The same forces sending gold prices to new heights are also bringing silver along for the ride.
Silver often lags behind its sister metal, and this latest price cycle was no exception.
However, investor belief that silver remains undervalued given strong industrial demand and unprecedented tight supply finally pushed the metal to break on through to the other side of a 45 year record high.
Metals Focus also points to the liquidity squeeze in the silver futures market, specifically concerning the COMEX in London. As the immediate supply of silver has not been enough to meet rising demand, the spot price for silver has risen higher than the price of futures contracts, a phenomenon known as backwardation.
This creates a squeeze on short sellers who must now buy back silver contracts at higher prices.
The situation amplified silver’s rally in early to mid-October. However, later in the month shipments of silver from New York and China helped to alleviate this pressure.
Looking forward, the trends underlying much of gold’s record-breaking price momentum are expected to remain strong well into next year. Metals Focus sees the price of gold posting another annual average high of US$4,560 as it heads toward US$5,000 in 2026, potentially reaching a record US$4,850 in the fourth quarter.
These gains in gold are projected to materialize despite supply side growth. Metals Focus is forecasting a surplus of 41.9 million ounces in 2026, up 28 percent year-on-year. The firm sees gold mine production reaching another record high in 2026 at the same time that gold recycling could climb by 6 percent to a 14-year high in jewellery demand is likely to be affected by high prices, low consumer confidence, and economic uncertainty.
What will move gold prices higher in 2026?
Gold investors should take cues from interest rate moves, inflation levels, strength or weakness in the US dollar and sentiment surrounding the independence of the Federal Reserve.
Of course, US trade policy will continue to be a main theme for precious metals over the next 12 months.
“As we have witnessed since the beginning of the Trump 2.0 administration, the abrupt and often unpredictable nature of US policy moves and the resulting uncertainty for the global trade system, and in turn the global economy, is expected to be a key driver of sentiment towards gold,” states the firm in the report.
Further driving demand, central banks around the world are expected to remain net buyers of safe-haven gold as the global push toward de-dollarization continues.
Gold and silver price outlook.
Chart via Metals Focus, Bloomberg.
As for silver, the white metal will continue to be seen as a more affordable alternative to gold. Metals Focus is looking for silver to average US$57 next year, and even take a run at the US$60 level in mid- to late 2026.
Silver has not only benefited from safe-haven investor demand and strong industrial demand, but also tight supply. However, the firm notes that the ongoing supply deficit for silver is expected to fall from 143.6 million ounces in 2024 to 63.4 million ounces in 2025. That figure is expected to shrink further to 30.5 million ounces in 2026.
Nevertheless, the silver market remains in a supply deficit at a time when demand is strong.
“We therefore remain bullish towards silver for the rest of this year and 2026,” note the report’s authors, who expect silver to continue outperforming gold at least in the first half of the new year.
In response, the gold-silver ratio has the potential to continue falling in 2026. However, Metals Focus believes the market will see this trend reverse in the back half of the year as silver loses some steam.
Gold-silver ratio.
Chart via Metals Focus, Bloomberg.
Overall, Metal Focus is confident the precious metals bull market will continue for the rest of 2025 and into 2026.
Gold especially is benefiting from its safe-haven status at a time of heightened macroeconomic and geopolitical uncertainty. Silver is tracking its ascent and also seeing tight aboveground supply and sustained industrial demand.
For those who think they’ve missed out on the gains to be made in this latest precious metals bull cycle, there’s still plenty of upside to be had in the gold and silver markets in Q4 and heading into 2026.
Securities Disclosure: I, Melissa Pistilli, currently hold no direct investment interest in any company mentioned in this article.
Aurum Resources (AUE:AU) has announced Aurum hits 0.8m @ 350 g/t gold at Boundiali Gold Project
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Cartier Resources presents a compelling gold investment opportunity, driven by a growing Abitibi resource, solid institutional support, and upcoming development milestones.
Cartier Resources (TSXV:ECR,FSE:6CA) is a Quebec-based gold exploration company advancing a compelling growth story anchored in one of Canada’s most prolific gold regions — the Abitibi Greenstone Belt. With a focused strategy, institutional support and a commitment to innovation, Cartier is building a significant gold resource base while positioning its flagship Cadillac project as an emerging mining camp east of Val-d’Or. As the company transitions from explorer to potential developer, the coming months present multiple catalysts for a significant valuation uplift.
Cartier projects in the Abitibi Greenstone Belt in Quebec
The Cadillac project has evolved from a single mine project into an emerging gold camp with multiple deposits, advanced resource modeling, and a clear development path. Located in a mining-friendly jurisdiction with existing infrastructure, the Cadillac project is ideally positioned to attract development partners, strategic investments, or acquisition interest from senior producers.
In 2023, using a gold price of US$1,750, Cartier completed a preliminary economic assessment (PEA) which confirmed the project’s robust economics, with a production forecast of 116,900 oz/year over 9.7 years and a low AISC of US$755/oz.
With permitting pathways de-risked by historical mining activity and extensive drilling already completed, Cartier has launched a fully funded 100,000-metre diamond drilling program. By combining AI and geostatistical reinterpretation techniques with traditional exploration methods, the company is positioning itself at the forefront of modern mineral discovery.
The Cadillac project has all the hallmarks of a high-potential development-stage gold asset: grade, scale, jurisdiction, infrastructure, and strategic backing. Cartier is also actively pursuing parallel value-creation opportunities, including the reprocessing of legacy tailings at the Chimo site and monetization of non-core assets like Wilson, Fenton and Benoist.
The company’s flagship Cadillac project is a consolidated land package totaling 11,525 hectares, located along a 15-kilometre strike of the Larder Lake–Cadillac Fault (LLCF) — one of the most productive gold-bearing structures in Canada. This fault zone has historically produced over 100 million ounces of gold across multiple camps. Cartier’s land package includes the past-producing Chimo Mine (379,012 oz gold from 1964 to 1997), West Nordeau, and several new discovery zones over a 10-km strike length straddling the LLCF.
Cartier has completed four mineral resource estimates (MREs) between 2019 and 2022. The most recent, published in May 2023, outlined 7.1 million tons (Mt) @ 3.1 grams per ton (g/t) gold (720,000 oz) indicated and 18.5 Mt @ 2.8 g/t gold (1.63 Moz) inferred. The PEA evaluated an underground mining operation fed from three primary zones (Chimo, East Chimo, West Nordeau), with a 2.9-year payback on a C$341 million capex. The PEA assumes an average head grade of 3.0 g/t gold and annual production of 116,900 oz gold. Infrastructure advantages include an existing shaft, power line and permitted tailings facility.
Cartier Resources has commenced its fully funded 100,000-metre drill program at the Cadillac Project in Quebec, the largest ever on the property. The 18-month campaign is designed to both expand known gold zones and test new high-priority targets along the Cadillac Fault Zone. With $11 million in cash and no debt, Cartier is well positioned to advance Cadillac’s district-scale gold potential.
As part of Cartier’s sustainability-focused development strategy, the company is evaluating the potential for reprocessing approximately 600,000 tons of historical tailings deposited during the Chimo Mine operations. This project could unlock near-term, low-cost production with a minimal environmental footprint. Cartier will launch metallurgical characterization to assess gold recovery potential and economic viability. The project benefits from proximity to several underutilized gold mills in the Val-d’Or region, potentially enabling toll milling agreements.
Other Projects: Wilson, Fenton and Benoist
Cartier also holds 100 percent ownership of three additional gold projects — Wilson, Fenton and Benoist — all located within the Abitibi Belt and each hosting historical gold mineralization or compliant resources. The Wilson Project (1,750 ha, three zones), Fenton (671 ha, 12 zones) and Benoist (3,086 ha, two zones) are currently available for joint ventures or sale. These assets offer significant exploration upside and optionality, allowing Cartier to remain focused on Cadillac while preserving long-term value.
Philippe Cloutier is the founder and driving force behind Cartier Resources. A professional geologist with over 35 years of experience in the exploration and development of precious and base metal deposits, Cloutier has a deep technical understanding of the Abitibi Greenstone Belt, having spent most of his career advancing projects in this prolific region.
Nancy Lacoursière brings over 20 years of experience in corporate finance, accounting and strategic financial management. She has held CFO and senior finance positions across the natural resources and manufacturing sectors, with a strong focus on Quebec-based operations.
Ronan Déroff is a senior exploration geologist and Cartier’s designated qualified person under NI 43-101. With over 15 years of experience in mineral exploration, resource modeling, GIS and project management, Déroff leads the technical execution of Cartier’s exploration strategy. He has overseen the development of multiple MREs and PEAs for the Cadillac project, and played a central role in integrating modern data analysis and AI-assisted targeting into the company’s workflow. He holds a Masters in operations and management of mineral resources (EGERM), from the Université d’Orléans (France).
The third quarter was a pivotal period for both the biotech and pharmaceutical sectors, with regulatory developments and an increase in business deals shaping the landscape for the industries.
Public biotech indexes rallied above critical levels last seen in 2021, with the NASDAQ Biotech Index (INDEXNASDAQ:NBI) closing 21 points ahead for the quarter and up 11 percent year-to-date.
Emerging artificial intelligence (AI) applications are becoming increasingly critical in drug discovery and R&D, highlighted by products like AlphaFold and new draft guidance from the US Food and Drug Administration (FDA) that encourages AI use in regulatory submissions. However, cautious funding approaches remain, especially for early stage companies.
This confluence may signal a sector resurgence, despite continued funding caution for early stage firms.
In a Q3 report on M&A activity, Oppenheimer notes that biopharma market sentiment showed an upward trajectory during the quarter, with expectations that deal flow will continue to increase through the end of 2025.
William Blair, a global investment banking and asset management firm specializing in biopharma investments, also notes an uptick in momentum in a recap of Q2 activity in the biopharma space, citing positive clinical data, a wave of public M&A activity and more clarity on tariffs and drug pricing as catalysts.
Total M&A transaction value reached US$38 billion for the quarter, according to data analyzed by Oppenheimer, including US$20 billion in September alone. Clinical-stage acquisitions saw their strongest quarter since late 2023, driven by early stage assets in the oncology, immunology and cardiovascular-metabolic areas.
The central nervous system space saw a pause in deals for the first time since the beginning of 2024, reflecting shifting investment priorities. Small molecules and antibodies maintained their leading positions as prevalent treatment modalities in deals, while emergents like bispecific antibodies, multi-specific antibody-drug conjugates and CAR-T therapies gained traction. However, the overall M&A market for antibody-drug conjugates remained cautious, with the exception of Seribant Therapeutics’ acquisition of Y-mAbs Therapeutics for US$412 million.
Public company takeouts continued to outnumber private company acquisitions for the second consecutive quarter; however, private companies still attracted strong interest from investors after a sluggish first half of 2025.
Oppenheimer’s Private Placement Activity report notes that a significant increase was observed in September, with companies with a clinical pipeline and a platform commanding the highest valuations.
Strategic partnerships between established pharmaceutical leaders and innovative biotech firms continued to underscore the ongoing efforts by pharma leaders to build and diversify their pipelines.
Roche Holding (OTCQX:RHHBY,SWX:ROG) and Zealand Pharma (OTC Pink:ZLDPY,CPH:ZEAL) entered into an agreement to co-develop and co-commercialize weight-loss drug candidate petrelintide in a deal valued at up to US$5.3 billion, reflecting ongoing interest in weight-management therapies, despite market challenges and competitive pressure.
Meanwhile, Bristol-Myers Squibb (NYSE:BMY) and BioNTech (NASDAQ:BNTX) agreed to co-develop and co-commercialize a novel cancer immunotherapy targeting multiple tumor types in a deal worth up to US$11 billion, and Pfizer (NYSE:PFE) partnered with 3SBio (OTC Pink:TRSBF,HKEX:1530) to advance a new cancer drug candidate.
Both agreements highlight ongoing efforts to expand oncology treatment options.
Cell and gene therapies continued to draw investor attention, and the central nervous system space saw an increase in average deal size. William Blair notes that cell and gene therapies remain a priority area for venture capital investors, as well as public market investors, despite regulatory complexities.
Initial public offering (IPO) activity rebounded meaningfully in Q3 after a quieter first half of 2025, with LB Pharmaceuticals’ (NASDAQ:LBRX) September offering serving as a marker of renewed capital markets appetite.
Secondary public offerings and clinical-stage private financings also increased, fueled by promising clinical data and expanding investor participation, including from international markets such as China.
In parallel, funding for AI-driven drug discovery platforms continued to capture investor interest, with rounds for companies like Isomorphic Labs, Pathos and Lila Sciences.
US President Donald Trump’s second term has brought a shift to more business-friendly stances, impacting healthcare M&A and trade. The Federal Trade Commission has signaled intentions to ease antitrust scrutiny, potentially speeding up big pharma and biotech dealmaking and encouraging higher transaction volumes that consolidate the sector.
A central policy focus is the onshoring of biopharmaceutical manufacturing, with the administration actively pursuing tariff negotiations to reduce import costs and bolster supply chain resilience. The landmark deal between the government and Pfizer to lower drug prices in Medicaid in exchange for tariff relief exemplifies this dual approach.
These tariff adjustments are designed to ease the burden on drug importation costs, incentivizing companies to invest more domestically while managing global supply chain risks. Lara Castleton, US head of portfolio construction and strategy at Janus Henderson Investors, has identified this agreement as “the catalyst for healthcare.” She further suggests that the sector is likely overdue for a comeback, having lagged behind the tech market earlier in the year.
Trump has emphasized the expectation that other pharma companies will follow suit, intensifying onshoring efforts. As of September 30, large pharma had committed roughly US$368 billion to US-based manufacturing facilities.
Additionally, the FDA approved 45 new drug applications in Q3, marking a notable increase from previous quarters. This surge was driven by accelerated approvals, largely in the gene and cell therapy sectors, as well as innovative biologics targeting rare diseases and oncology.
The biotech and pharma sectors entered Q4 on firm footing. Supportive market dynamics are expected to persist as the year continues, with 2025 on track to reach US$93 billion in total transaction value.
Several catalysts are poised to shape the healthcare landscape moving forward.
An anticipated IPO from MapLight Therapeutics, focusing on neurology therapies, will reveal investor appetite for specialty pharma assets in a market that had a bullish close to Q3, but faces questions about sustaining momentum.
On the regulatory front, FDA decisions are expected for a handful of treatments in gene and cell therapy, as well as oncology. Approvals are expected to accelerate, bolstered by programs aimed at speeding up evaluations of novel treatments like CRISPR-based medicines, stem cell research and nutraceuticals.
Leadership changes may also foster innovation in unconventional medical fields such as stem cell research and nutraceuticals. Amid an evolving regulatory and political landscape, Reed Jobs has advocated for sustained public funding to fuel biomedical progress, delivering a key congressional address on National Institutes of Health protection in September. Beyond advocacy, he is also building a nearly US$1 billion biotech fund focused on next-generation cancer therapies, highlighting the vital intersection of public research funding and private sector innovation.
Policy clarity around drug pricing reforms and Medicaid tariff relief will critically influence commercial access and pricing dynamics. The GLP-1 sector remains under the spotlight following the announcement of Trump’s plans to reduce the monthly cost of GLP-1 drugs like Ozempic and Wegovy to US$150.
AI’s expanding role in drug discovery, clinical trial design and digital therapeutics will continue to inspire industry innovation, likely attracting significant funding and fostering new collaborations.
However, volatility related to regulatory appointments, trade uncertainties and notably the ongoing US federal government shutdown presents near-term challenges. Investors and industry participants will closely monitor clinical data and regulatory shifts to navigate the evolving landscape successfully.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Here’s a quick recap of the crypto landscape for Friday (October 24) as of 5:00 p.m. UTC.
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.
Bitcoin (BTC) was priced at US$110,645, a 0.3 percent increase in 24 hours. Its lowest valuation of the day was US$109,873, and its highest was US$111,266.
Bitcoin price performance, October 24, 2025.
Chart via TradingView.
Bitcoin’s medium-sized investors are continuing to buy even after the US$19 billion liquidation event earlier this month, preserving the market’s long-term bullish structure, according to CryptoQuant.
Entities holding between 100 and 1,000 BTC have added roughly 907,000 BTC over the past year, which analysts say represents a strong accumulation trend that historically aligns with upward price momentum.
Recent price action reflects this institutional backing, with Bitcoin reclaiming levels above US$110,000 amid softer inflation data and improved market sentiment. However, CryptoQuant warned that short-term demand is softening as the cohort’s 30-day balance has fallen below its moving average, suggesting potential near-term caution until a catalyst, such as renewed exchange-traded fund (ETF) inflows, emerges.
Ether (ETH) was priced at US$3,928.56, a 1.8 percent increase in 24 hours. Its lowest valuation of the day was US$3,872.67, and its highest was US$3,968.61.
The cryptocurrency market has experienced some fluctuations with a mixed but generally cautious outlook. The crypto derivatives market has shown some signs of recovery and increased activity after the earlier October volatility.
Liquidations for contracts tracking Bitcoin have totaled approximately US$5.89 million in the last four hours, the majority of which have been short positions, indicating a possible short squeeze or short-covering rally.
This aligns with Bitcoin’s price rebound and trader repositioning after recent dips.
Ether liquidations showed a different pattern; its US$7.01 million liquidations were fairly evenly split between long and short positions, suggesting balanced market dynamics and some ongoing indecision or consolidation.
Futures open interest for Bitcoin was up by 0.4 percent to US$71.27 billion over four hours, indicating growing trader interest and increasing liquidity, with a slight decrease in the final hour of trading. Ether futures open interest moved by +0.86 percent to US$45.94 billion, also showing a modest pullback as markets closed.
The funding rate remains positive, with both Bitcoin and Ether showing it at 0.005, a sign of modest bullish sentiment but not extreme leverage. Bitcoin’s relative strength index stood at 55.4, in a neutral to slightly bullish momentum phase, further supporting a stable recovery rather than a parabolic move.
CMC’s Crypto Fear & Greed Index has slightly trended upwards into 32, but remains in fear territory, an improvement from this week’s lowest score (25).
CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.
Chart via CoinMarketCap
US President Donald Trump has granted a full pardon to Binance founder Changpeng Zhao, wiping away his 2024 conviction for violating US anti-money laundering laws. Zhao, better known as “CZ,” served four months in prison and had been barred from running financial ventures under the plea deal.
The move follows months of lobbying by Binance, which paid a record US$4.3 billion fine as part of its own settlement with federal prosecutors. White House Press Secretary Karoline Leavitt called the case “a politically motivated overreach by the Biden administration,” insisting the pardon was meant to correct an injustice.
Critics argue the decision reflects Trump’s growing financial ties to the crypto industry, citing his personal investments and recent push for a “national cryptocurrency reserve.” Zhao thanked Trump on social media, saying he is “deeply grateful” for the decision and eager to “continue supporting innovation responsibly.”
Crypto miner Bitfarms (TSX:BITF) saw its shares surge on Friday after trading firm Jane Street said it has acquired a 5.4 percent ownership stake in the company, as well as a 5 percent stake in Cipher Mining (NASDAQ:CIFR).
This move from a major institutional market maker, known for its strategic investments in the digital asset space, highlights the growing institutional involvement in cryptocurrency mining businesses and their expanding role within the tech sector’s market rally.
Prediction platform Polymarket has confirmed plans to launch its long-awaited POLY token following a US$2 billion investment from Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange.
Speaking on the Degenz Live podcast, Chief Marketing Officer Matthew Modabber said both the token and airdrop are “officially in motion,” confirming rumors that have swirled for months.
Modabber emphasized that the launch will prioritize real utility and “long-term viability,” aligning with Polymarket’s push to relaunch its US app after receiving fresh regulatory clearance.
Sygnum Bank has partnered with Debifi, a Bitcoin-backed lending platform, to introduce MultiSYG, a new multisignature Bitcoin lending product slated for launch in the first half of 2026.
MultiSYG allows clients to borrow fiat currencies against their Bitcoin holdings. These Bitcoin assets are held in a 3-of-5 multisig escrow wallet, with keys distributed to the borrower, Sygnum and independent signers. This structure ensures borrowers maintain partial control and on-chain cryptographic proof of their collateral for the loan term.
The product is designed to enhance transparency and security in lending by preventing rehypothecation and eliminating the need for blind trust in custodians, which are common issues in traditional lending practices. MultiSYG is specifically tailored for institutional and high-net-worth clients seeking bank-grade terms and flexible loan services.
JPMorgan Chase (NYSE:JPM) is preparing to let its institutional clients borrow cash using Bitcoin and Ether as collateral. Set to launch by the end of 2025, the initiative will allow the firm’s clients to pledge cryptocurrencies directly rather than through ETFs, using a third-party custodian to safeguard tokens.
The pilot follows successful internal testing involving BlackRock’s iShares Bitcoin Trust ETF (NASDAQ:IBIT) earlier this year. JPMorgan already accepts crypto-linked ETFs as loan collateral.
Crypto.com has applied to the US Office of the Comptroller of the Currency for a National Trust Bank Charter.
This federal charter would enable Crypto.com to provide regulated crypto financial services across the US, including custody and staking. The company plans to focus on institutional clients, offering solutions such as digital asset treasuries, ETFs and corporate custody. This move signifies Crypto.com’s progression towards compliance with traditional financial regulations and the expansion of its regulated presence in the US.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Tight export controls out of the Democratic Republic of Congo (DRC) added tailwinds to cobalt prices in Q3, prompting market watchers to anticipate a shift from oversupply to balance in the coming months.
After starting the year at lows unseen since 2016 (US$21,502 per metric ton), cobalt began to rebound in Q2.
Prices for the metal then flatlined in the US$33,300 to US$37,000 range from the end of March through September, but a sharp rally in late October sent values to US$47,110, a level last reached in January 2023.
Cobalt price, October 25, 2024, to October 23, 2025.
Chart via Trading Economics.
Much of the cobalt story this year has been dominated by the February export suspension out of the DRC, which supplies roughly three-quarters of the world’s cobalt. The initial curtailment was expected to last four months in an effort to rein in oversupply and stem a price plunge below US$10 per pound, the lowest point in over 20 years.
The supply glut has been attributed to a surge in output driven largely by China’s CMOC Group (OTC Pink:CMCLF, SHA:603993), which has rapidly expanded production at two major DRC mines.
Cobalt supply has surged over the past five years, with global mine production more than doubling from 140,000 metric tons in 2020 to 290,000 metric tons in 2024. The bulk of this growth has come out of DRC, with annual output rising from 175,000 metric tons in 2023 to 220,000 metric tons in 2024. This rapid growth has far outpaced demand from the electric vehicle (EV) sector and other end-use industries, resulting in significant market oversupply.
In June, the DRC extended its export halt through September, a move that supported higher price levels.
“Trade statistics for cobalt hydroxide imports into China in June showed the first drop in material following the export ban enforcement in late February,” wrote Fastmarkets’ Rob Searle in a June market update.
“With a typical lead time of around three months, we expected June to be the first month of lower volumes. Cobalt hydroxide imports fell 62 percent in June and are expected to remain at low levels through to the end of December or early 2026. Should the export ban end as planned on September 22, the end of the year is the earliest we can expect to see new feed into the Chinese market from the DRC,’ the battery metals expert continued.
As the deadline for the export halt extension drew near, prices began to climb amid rumors that officials in Kinshashe would implement quotas to continue curbing the market saturation.
After eight months of restricted trade, the Authority for the Regulation and Control of Strategic Mineral Substances’ Markets (ARECOMS), announced it was enacting a quota system aimed at stabilizing global supply and prices.
The output cap will permit the export of 18,125 metric tons of DRC cobalt for the remainder of 2025.
“In 2026, the annual quota is set at 96,600t, of which 87,000t will be distributed to producers on a pro rata basis, with 9,600t retained under ARECOMS’ discretionary control,” a September Benchmark Mineral Intelligence report notes. “The framework will run through 2027, with adjustments possible if officials deem the market ‘imbalanced.”
The restrictions lifted cobalt prices to a 32 month high of US$48,570 on October 23.
Although the cobalt market remains oversupplied, demand has steadily increased alongside ballooning output, reaching record levels of more than 200,000 metric tons in 2024.
“The primary growth driver of this (growth) is the electric vehicle market, combined with portables, which is the second biggest battery market,” explained Benchmark’s William Talbot during a July Cobalt Institute webinar.
The alloy and military applications segment also experienced growth.
Talbot went on to note that despite reports that EV demand is waning in some regions, broad demand remains robust, and EVs that utilize cobalt battery chemistries “are still growing at pace.”
“If we look at the EV picture year-to-date in 2025, we’ve had more than 30 percent growth compared to the same period last year in unit terms,” he explained.
The cobalt market is entering a phase of continued volatility and structural change, shaped by shifting supply sources, evolving policy frameworks and growing geopolitical tension, as per Benchmark’s Talbot and the Cobalt Institute.
Looking ahead, Benchmark expects Indonesia to overtake the DRC as the key source of new supply by the late 2020s, as projects such as Kalimantan Ferro Nickel ramp up and few new developments emerge in the DRC.
On the demand side, Talbot said the outlook remains “fairly robust,” with EV growth driving consumption, despite some policy headwinds in the US. He pointed to China’s planned ban on lithium iron phosphate (LFP) battery technology, which he said “is supportive of cobalt-containing chemistries” such as nickel cobalt manganese (NCM).
Rising geopolitical tensions are also reshaping the cobalt supply chain.
“Major players are increasingly cognizant of where their materials come from,” Talbot said, citing new US and European investment in strategic and ESG-compliant cobalt projects.
Talbot added that the cobalt value chain has made “leaps and bounds” in sustainability, with roughly 80 percent of refined cobalt now assessed under the Responsible Minerals Initiative — a key factor for automakers and original equipment manufacturers under tightening compliance requirements.
While Benchmark remains cautious with projections, analysts at Project Blue say cobalt prices could rebound sharply in 2026 and 2027 as the DRC enforces its new export cap of 96,600 metric tons per year.
“Such constraints could lift cobalt prices toward historical real levels of over US$20 per pound,” reads a Project Blue report, noting that the quota “came in lower than many expected,” but aligns with its call for a rebalanced market.
According to Project Blue, at least 100,000 metric tons of exports would be needed next year to maintain equilibrium. Accounting for shipping delays and processing losses, only 85,000 to 90,000 metric tons are expected to reach end users — creating a structural deficit that should continue to support prices. The quota framework could also spur domestic refining as export restrictions make long-term storage of cobalt hydroxide costly.
Industry observers warn that producers — especially copper-cobalt miners such as CMOC — may need to adopt financial hedging and adjust production plans to navigate the added bureaucracy and potential export delays.
Similarly, Fastmarkets expects the DRC’s new rules to support cobalt prices, which have already soared more than 240 percent since February, Alexander Cook wrote in an LME Week recap. Fastmarkets assessed cobalt hydroxide prices at US$19.50 to US$20.20 on October 14, up from just US$5.65 in February.
The restrictions have sharply curtailed available volumes — much of which are already locked into long-term contracts — leaving the spot market increasingly constrained, wrote Cook.
Market participants expect further gains, though analysts caution that such elevated prices could push some battery makers to accelerate the shift toward cobalt-free chemistries such as LFP.
While the quota system has bolstered prices in the short term, the long-term outlook remains uncertain.
Analysts note that cobalt’s fate is increasingly tied to copper market dynamics and the pace of EV demand recovery, with downstream buyers and automakers reassessing cobalt’s role in next-generation batteries.
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Canadian company PMET Resources (ASX:PMT, TSX:PMET, OTCQX:PMETF) has completed a lithium-only feasibility study on the CV5 deposit of its Shaakichiuwaanaan lithium project in Northern Quebec.
The company said that the feasibility study confirms that the project is a large-scale and lifelong operation, with CV5’s maiden reserve updated to 84.3 million tonnes (Mt) at 1.26 percent lithium oxide or about 2.62 Mt lithium carbonate equivalent (LCE) in probable reserves.
Results also show that there is still potential to upgrade and expand resources at CV5 and its nearby CV13 deposit, which currently hold a total resource of 108.0 million tonnes at 1.40 percent indicated and 33.4 at 1.33 percent inferred.
“Our large scale and long-life project is ideally suited to support the emerging American, European, and Asian lithium raw materials supply chains,” commented CEO and President Ken Brinsden.
“There are very few projects of this size & scale, quality, and low production cost that can assist in underwriting the expected capital investment supporting new supply chains and demand growth in western markets.”
Located in Quebec’s Eeyou Istchee James Bay region, Shaakichiuwaanaan is recognised as the largest lithium pegmatite mineral resource in the Americas.
It is also among the largest lithium mines in the world, with potential to become the second largest following the Greenbushes lithium operations in Western Australia.
Greenbushes is owned by Albemarle (NYSE:ALB) and was recorded with an estimated 0.21 metric tonnes per annum lithium production in 2023.
PMET is targeting a final investment decision for Shaakichiuwaanaan for the second half of 2027, hoping that “the overall market supply-demand balance tightens over the coming years.”
Researchers found that the project can have an annual production of up to 800,000 tonnes of lithium-rich rock, along with pollucite, tantalite, and cesium.
Brinsden said that about 20 percent of the jobs created at Shaakichiuwaanaan will be allotted to workers at the Cree territory.
PMET Resources was formerly Patriot Battery Metals. The company officially changed its name in September.
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.