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RUA GOLD Closes C$13.8 Million Brokered Offering Including the Full Exercise of Over-Allotment Option

Investing 10 Mins Read

Highlights 

  • Closing the oversubscribed brokered offering for $13.8 million of gross proceeds. 
  • Offering was completed without dilutive warrants and without a significant discount to market trading price. 
  • Completion of this financing secures a treasury balance sufficient to fund 12 to 18 months of aggressive exploration across on the projects.

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A40QYC) (‘Rua Gold’ or the ‘Company’) is pleased to announce that it has closed its previously announced brokered ‘best efforts’ public offering (the ‘Public Offering’) and private placement (the ‘Private Placement’ and with the Public Offering, the ‘Offering’) consisting of 19,714,450 common shares in the capital of the Company (each, a ‘Common Share’), which included the exercise of the over-allotment option in full, at a price of C$0.70 per Common Share for aggregate gross proceeds of C$13,800,115.

The Company intends to use the net proceeds from the Offering for continuing the exploration program on its New Zealand properties and general working capital and general corporate purposes, as disclosed in the Prospectus Supplement (as defined below).

‘For the first time, Rua Gold is fully funded to execute all of our exploration plans over the next 12 to 18 months’ stated CEO, Robert Eckford. ‘Since listing the Company last year, we have accelerated both the Reefton Project on the South Island, and Glamorgan Project on the North Island of New Zealand. With the addition of a cornerstone 9.9% investor, we have strengthened our support base, enabling a two-pronged strategy: the continuation of an aggressive drill campaign at the Reefton Project, and the planned commencement of drilling at the Glamorgan Project in Q4 2025. Both strategies are designed to highlight the exceptional geological potential of New Zealand, supported by a very significant financing.’

The Offering was completed pursuant to an agency agreement (the ‘Agency Agreement‘) dated June 18, 2025 among the Company, Cormark Securities Inc. and Red Cloud Securities Inc., as Co-Lead Agents and Beacon Securities Limited (collectively, the ‘Agents‘).

In consideration for services rendered in connection with the Public Offering, the Company paid the Agents a cash fee of approximately C$446,651 and issued to the Agents 638,073 broker warrants (the ‘Broker Warrants‘). Each Broker Warrant is exercisable to acquire one Common Share at an exercise price of $0.70 per Common Share for a period of 24 months following closing of the Offering.

The Public Offering was completed in Canada pursuant to a prospectus supplement dated June 18, 2025 (the ‘Prospectus Supplement‘) to the Company’s short form base shelf prospectus dated July 11, 2024 (the ‘Shelf Prospectus‘) filed in each of the provinces and territories of Canada, except Québec. Common Shares were also issued in the United States and in offshore jurisdictions pursuant to private placement or similar exemptions in accordance with applicable securities laws. Copies of the Prospectus Supplement, Shelf Prospectus and Agency Agreement are available under the Company’s SEDAR+ profile at www.sedarplus.ca.

The Private Placement was completed pursuant to applicable exemptions from prospectus requirements under applicable securities laws. The Common Shares issued pursuant to the Private Placement are subject to a statutory hold period in Canada expiring four months and one day expiring on October 27, 2025.

The Offering remains subject to the final acceptance of the TSX Venture Exchange (the ‘TSXV‘).

Insiders of the Company (the ‘Insiders‘) subscribed to the Offering for an aggregate of 1,529,800 Common Shares. This issuance of the Common Shares to the Insiders constitutes a ‘related party transaction’ as such term is defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘MI 61-101‘). The Company is relying on an exemption from the formal valuation and minority shareholder approval requirements provided under MI 61-101 pursuant to section 5.5(a) and section 5.7(1)(a) of MI 61-101, on the basis that the participation in the Offering by the Insiders does not exceed 25% of the fair market value of the Company’s market capitalization. A material change report was not filed in connection with the participation of the Insiders in the Offering less than 21 days in advance of the closing of the Offering, which the Company considers reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and to complete the Offering in an expeditious manner.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act‘) or any U.S. state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities in the United States, nor in any other jurisdiction in which such offer, solicitation or sale would be unlawful. ‘United States’ and ‘U.S. person’ are as defined in Regulation S under the U.S. Securities Act.

Option and DSU Grant

On closing of the Offering, the Company granted 2,250,000 options (each, an ‘Option‘) to certain directors, officers and consultants of the Company in accordance the Company’s stock option plan dated July 24, 2024. Each Option is exercisable into one Common Share at an exercise price of $0.66 per Common Share for five years following the date of grant. The Options are subject to a 3-year vesting period with 750,000 Options vesting on June 26, 2026, 750,000 Options vesting on June 26, 2027, and 750,000 Options vesting on June 26, 2028.

The Company also announces that it has granted an aggregate of 200,000 deferred share units (‘DSUs‘) to certain directors of the Company, in accordance with the Company’s DSU Plan dated July 24, 2024. The DSUs are subject to a 3-year vesting period with 66,666 DSUs vesting on June 26, 2026, 66,667 DSUs vesting on June 26, 2027, and 66,667 DSUs vesting on June 26, 2028. Each DSU entitles the holder to receive one share of the Company at the time the holder ceases to be a director of the Company.

Advisory Fees

The Company has also paid an advisory service fee of $340,000 and issued 485,000 advisory warrants of the Company (each, an ‘Advisory Warrant‘) to Red Cloud Securities Inc. for their services as financial advisor. Each Advisory Warrant is exercisable to acquire one Common Share at an exercise price of $0.70 per Common Share until June 26, 2027.

About Rua Gold

Rua Gold (TSXV: RUA) (OTCQB: NZAUF) (WKN: A40QYC) is an exploration company, strategically focused on New Zealand. With decades of expertise, our team has successfully taken major discoveries into producing world-class mines across multiple continents. The team is now focused on maximizing the asset potential of Rua Gold’s two highly prospective high-grade gold projects.

The Company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand’s South Island with over 120,000 hectares of tenements, in a district that historically produced over 2Moz of gold grading between 9 and 50g/t.

The Company’s Glamorgan Project solidifies Rua Gold’s position as a leading high-grade gold explorer on New Zealand’s North Island. This highly prospective project is located within the North Islands’ Hauraki district, a region that has produced an impressive 15Moz of gold and 60Moz of silver. Glamorgan is adjacent to OceanaGold Corporation’s biggest gold mining project, Wharekirauponga.

For further information, please refer to the Company’s disclosure record on SEDAR+ at www.sedarplus.ca.

Rua Gold Contact

Robert Eckford
Chief Executive Officer
Phone: (604) 655-7354
Email: reckford@RUAGOLD.com
Website: www.RUAGOLD.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur and specifically include statements regarding: the Company’s strategies, expectations, planned operations or future actions including but not limited to exploration programs at its New Zealand properties; the intended use of the net proceeds of the Offering; and the final acceptance of the TSXV with respect to the Offering. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.

Investors are cautioned that any such forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. A variety of inherent risks, uncertainties and factors, many of which are beyond the Company’s control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include: general business, economic, competitive, political and social uncertainties; risks related to the effects of the Russia-Ukraine war; risks related to climate change; operational risks in exploration, delays or changes in plans with respect to exploration projects or capital expenditures; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; changes in labour costs and other costs and expenses or equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, including but not limited to environmental hazards, flooding or unfavorable operating conditions and losses, insurrection or war, delays in obtaining governmental approvals or financing, and commodity prices. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements and reference should also be made to the Company’s short form base shelf prospectus dated July 11, 2024, and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors.

Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256925

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

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SAGA Metals Mobilizes and Commences Summer Work Programs at Recently Drilled 100% Owned Radar Titanium Property in Labrador, Canada & Provides Corporate Update

Investing 10 Mins Read

Saga Metals Corp. (‘SAGA’ or the ‘Company’) (TSXV: SAGA) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to announce the mobilization and commencement of its 2025 summer field program at the 100% owned Radar Titanium Property (the ‘Property’) in Labrador, Canada.

Field crews arrived on site on June 17 and have initiated ground-based geophysical surveys targeting future high-priority drill targets. Concurrently, the team is constructing an access trail along the full 20 km strike extent of the Dykes River Intrusion oxide layering zone. Mobilizing drill rigs to the Trapper Zone is a first construction priority (see Figure 1 below).

The road and trail construction aims to provide direct access to both the eastern Hawkeye Zone and the western extent of the Trapper Zone. This strategic roadwork will significantly enhance logistical efficiency and exploration capacity across the entire 20 km oxide layering zone.

Figure 1: Detail of the Radar Titanium Project showcasing the road network from the Hawkeye Zone to the Trapper Zone and location of SAGA’s 2025 field programs.

SAGA’s field team is actively clearing overgrown sections of the historic forestry road to enable access for trucks and heavy equipment to the western areas of the Property. The program began with a 6-tonne excavator, while a larger 25-tonne unit is currently in transit and will be used to complete the remaining clearing work. Once operational, the 25-tonne excavator will also be deployed to construct a new access trail extending from the northwest end of the Trapper Zone, following the oxide layering zone southward before turning east toward the western anomalies within the Hawkeye Zone. This strategically designed, drill-compatible trail is a key component of SAGA’s infrastructure development, enabling efficient mobilization of diamond drilling equipment to high-priority targets and supporting cost-effective execution of future drilling campaigns.

Figure 2: SAGA’s field team utilizes a 6-tonne excavator to clear the old forestry road that runs east-west within the Radar project

Magnetic and Electromagnetic (EM) Survey over the ‘Trapper Zone’

As previously reported, targeted VLF-EM (Very Low Frequency electromagnetic survey) and magnetic surveys from Q4 2024 successfully defined drill targets for our maiden drill program over the Hawkeye zone. Now, our crews are targeting the Trapper zone that returned one of the highest responses in the regional airborne magnetic survey. SAGA has mobilized two geophysical crews to ensure complete survey coverage across the Trapper Zone within the next four weeks. Planned is a highly detailed magnetic and VLF-EM-survey over the northern anomaly of the Trapper zone.

Due to the strength of the magnetic anomaly detected over the Trapper zone, SAGA’s geological team has had to continually recalibrate the geophysics instruments. To mitigate this, the Company has mobilized an additional instrument and expanded the team with two more personnel.

The survey employs a 25-meter station spacing along lines separated by 50 meters, allowing for detailed mapping of magnetic and conductive features associated with magnetite mineralization. This high-resolution approach is critical for accurately defining subsurface targets and enhancing confidence in drill planning for this promising western extension. The ultimate objective is to develop a magnetic inversion model—comparable to that successfully used at Hawkeye—to guide follow-up drilling along the broader 20-kilometre oxide layering trend.

Figure 3: SAGA’s field team conducting the magnetic and electromagnetic survey, including Very Low Frequency (VLF-EM) on the Radar Titanium Project

Michael Garagan, CGO & Director of SAGA, comments: ‘ We are fortunate to have exceptional infrastructure at the Radar Titanium project. The ability to complete low-cost maintenance on the forestry road and access trail into the Trapper zone will only further enhance the cost-effectiveness of future programs, adding tremendous value to shareholders. We are excited to have two teams conducting geophysics over the Trapper zone, with interpretations expected by mid-summer. As I previously mentioned, early indications suggest the Trapper zone contains some of the strongest magnetic anomalies, and we’ll be utilizing the magnetic inversions to delineate drill targets similar to the Hawkeye Zone.’

Figure 4: Radar Property map, depicting aeromagnetic anomalies, oxide layering and the site of the 2025 drill program. The Property is well serviced by road access and is conveniently located near the town of Cartwright, Labrador. A compilation of historical aeromagnetic anomalies is shown. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.

Radar Ti-V-Fe Project Overview:

The Company’s 100%-owned Radar Property is located 10 km from the coastal city of Cartwright, Labrador, benefiting from tremendous infrastructure, including road access, deep-water port, airstrip and nearby hydro-electric power. The Radar Property comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km² on the surface.

The Dykes River intrusive complex is a recently recognized Mesoproterozoic layered mafic intrusion (Gower, 2017). It has gained attention due geological similarities to large AMCG-type intrusions and a very extensive titanium–vanadium–iron (Ti-V-Fe) rich layer.

Radar Ti-V-Fe Project 2025 Winter Drill Program Highlights:

  • Analytical results have been received on all seven diamond drill holes from the 2025 winter program.
  • Combined with petrographic analysis, these assays confirm that the primary economic mineral is vanadiferous titanomagnetite, favourable for simplified metallurgical processing.
  • Notable intercepts of vanadiferous titanomagnetite from the 2025 winter drill program include:
    • 20.2 meters grading 31.35% Fe , 6.32% TiO₂ , and 0.435% V₂O₅ in HEZ-07
    • 57.7 meters grading 27.09% Fe, 5.305% TiO₂, and 0.365% V₂O₅ in HEZ-07
    • 25.0 meters grading 19.92% Fe , 4.14% TiO₂ , and 0.213% V₂O₅ in HEZ-05
    • 31.5 meters grading 25.95% Fe, 5.34% TiO 2 and 0.28% V 2 O 5 in HEZ-01
    • 50 meters grading 24.49% Fe, 4.74% TiO 2 and 0.305 % V 2 O 5 in HEZ-04
    • 28 meters grading 20.11% Fe, 4.22% TiO₂, and 0.214% V₂O₅ in HEZ-06
    • 37 meters grading 12.4% Fe, 4.17% TiO₂, and 0.069% V₂O₅ in HEZ-02
    • 55 meters grading 11.37% Fe, 4.07% TiO₂, and 0.051% V₂O₅ in HEZ-03
  • Titanomagnetite-rich zones average between 20% and 40% titanomagnetite, with localized massive layers exceeding 60%.
  • Drilling has confirmed the presence of oxide layering and associated magnetic anomalies to vertical depths of up to 300 meters.
  • Current drilling has tested just 1/40th of the identified 20 km strike extent of the oxide layering zone within the Dykes River Intrusion (refer to Figure 4 for map view) .

(Click here to see SAGA’s news release dated May 5, 2025 for full information on holes HEZ-01 & HEZ-04, here to see SAGA’s news release dated May 26, 2025 for full information on holes HEZ-05 & HEZ-07 and here to see SAGA’s news release dated May 29, 2025 for full information on holes HEZ-06, HEZ-02 & HEZ-03)

Engaged Alphabridge Group Inc. for Equity Research Coverage

The Company has engaged Alphabridge Group Inc. (‘Alphabridge’) to provide equity research coverage on the Company for an initial term of one year, beginning on June 25, 2025. Total consideration payable to Alphabridge is $15,000 plus GST. Alphabridge services will be provided via its principal Vasant Jain, based out of Vancouver, BC. Alphabridge and its principal are arm’s length to the Company, and to the knowledge of the Company hold no securities of the Company as of the date hereof.

Qualified Person

Paul J. McGuigan, P. Geo., is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information related to the Radar Ti-V-Fe Project disclosed in this news release.

About Saga Metals Corp.

Saga Metals Corp. is a North American mining company focused on the exploration and discovery of critical minerals that support the global transition to green energy. The Company’s flagship asset, the Double Mer Uranium Project, is located in Labrador, Canada, covering 25,600 hectares. This project features uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U 3 O 8 and uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).

In addition to its uranium focus, SAGA owns the Legacy Lithium Property in Quebec’s Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Lithium.

SAGA also holds additional exploration assets in Labrador, where the company is focused on discovering titanium, vanadium, and iron ore. With a portfolio that spans key minerals crucial to the green energy transition, SAGA is strategically positioned to play an essential role in the clean energy future.

On Behalf of the Board of Directors

Mike Stier, Chief Executive Officer

For more information, contact:
Saga Metals Corp.
Investor Relations
Tel: +1 (778) 930-1321
Email: info@sagametals.com
www.sagametals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Disclaimer

This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipates’, ‘expects’, ‘believes’, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the exploration of the Company’s Radar Project and engagement of Alphabridge for equity research coverage. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, risks and uncertainties involved in the mineral exploration and development industry, and the risks detailed in the Company’s continuous disclosure filings with securities regulations from time to time, available under its SEDAR+ profile at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

Figures accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/2eb3b876-a32a-4368-9ef8-720dbe25a86e

https://www.globenewswire.com/NewsRoom/AttachmentNg/1fff0845-d761-439e-9e00-2e08b50d6fb4

https://www.globenewswire.com/NewsRoom/AttachmentNg/67f8e3d8-49c6-4ff3-8a83-e47ebd9d2558

https://www.globenewswire.com/NewsRoom/AttachmentNg/5514e271-097c-4aa2-80b3-32cafac1966f

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

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Crypto Market Recap: Bitcoin Hashrate Drops, Coinbase Shares Hit New All-time High

Investing 7 Mins Read

Here’s a quick recap of the crypto landscape for Wednesday (June 25) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) is priced at US$107,736, an increase of two percent in the last 24 hours. The day’s range for the cryptocurrency brought a low of US$107,027 and a high of US$108,116.

Bitcoin price performance, June 23, 2025.

Chart via TradingView.

Ethereum (ETH) closed at US$2,432.58, trading flat over the past 24 hours. Its lowest valuation on Wednesday was US$2,403.59, and its highest valuation was US$2,441.16 at the opening bell.

Altcoin price update

  • Solana (SOL) was priced at US$144.38, down 0.6 percent over 24 hours. Its highest valuation on Wednesday was US$147.61, and its lowest was US$143.28.
  • XRP was trading for US$2.20 as markets wrapped, down by 0.3 percent in 24 hours. The cryptocurrency’s highest valuation was US$2.23, and its lowest price on Wednesday was US$2.18.
  • Sui (SUI) is trading at US$2.76, showing an increaseof 0.1 percent over the past 24 hours. Its lowest valuation was US$2.73, and its highest valuation was US$2.84.
  • Cardano (ADA) is priced at US$0.5709, down by 1.9 percent in 24 hours. Its highest valuation on Wednesday was US$0.5838, and its lowest was US$0.5678.

Today’s crypto news to know

Trump Media’s Bitcoin-Ethereum ETF gains NYSE support

The New York Stock Exchange (NYSE) has formally submitted a rule change to the US Securities and Exchange Commission (SEC) to allow the listing of the Truth Social Bitcoin and Ethereum ETF.

The dual-asset exchange-traded fund (ETF), which is backed by Donald Trump’s media company, would be held in a 3:1 BTC to ETH ratio, is to be custodied and executed by Crypto.com. The rule change was filed under the SEC’s 19b-4 process, signaling the NYSE’s commitment to fast-track the listing pending regulatory review.

This development follows Trump Media’s previously announced plan to raise US$2.4 billion for its own bitcoin treasury.

Although that fund remains inactive, the ETF proposal is part of a larger suite of politically branded crypto products in the pipeline. So far, only the Truth Social ETF filings have been formally submitted to the SEC.

Bitcoin hashrate drops amid Iran attacks and heatwave

Bitcoin’s hashrate has dropped 15 percent since June 15, and some in the community point to the attack on Iran as a primary reason, although the exact cause hasn’t been confirmed.

“Hashrate dropped right after Israel’s initial strike on Iran. It’s not talked about often but Iran has been mining for many years now (over 5 years).. its likely that Israel hit part of Iran’s power grid and disrupted some of their mining operation,” an X user known as daniel wrote on Sunday (June 22).

“Can’t say whether disrupting (their) mining was part of their plan or simply a secondary effect of the strike, but I think it’s likely this is what caused the drop in hashrate.”

However, only 3 percent of the hashrate decrease precisely coincided with events related to attacks on Iran.

According to TechCrunch, the Iranian government imposed a near-total internet blackout on as a precaution against potential cyberattacks, which coincided with a 2.2 percent decline in global hashrate from Thursday (June 19).

The US strike on Iran’s nuclear facility then led to power grid outages in the country, coinciding with a one percent decrease in global hash rates from Saturday (June 21) to Sunday (June 22).

The hashrate had already fallen by over 6.25 percent between June 15 and June 19, before the internet blackout and the US bombing. The current heatwave covering the Eastern coast of the US and Canada could be another contributing factor, as elevated temperatures can lower the efficiency of high-performing technology.

Coinbase surpasses all-time high

Coinbase Global (NASDAQ:COIN) surpassed its all-time high on Wednesday, reaching US$369.25, more than three percent above its previous record of US$357.39 recorded on November 9, 2021.

The move marks a strong resurgence from its year-to-date low of US$151.47, recorded in April.

Coinbase’s stock price has grown by 38 percent since the start of the year and 134 percent from its closing price on April 8 following the imposition of additional tariffs on China by the US, an event that triggered broader market anxieties and impacted several tech-related equities.

Norwegian deep-sea miner commits to US$1.2 billion Bitcoin strategy

Green Minerals, a deep-sea mining firm listed in Oslo, has kicked off its US$1.2 billion Bitcoin treasury plan with an initial purchase of four BTC, spending roughly US$420,000. The company said it aims to hedge against fiat currency risk and inflation while building a tech-forward balance sheet. Executive Chair Ståle Rodahl called Bitcoin “non-inflationary” and “decentralized,” framing the strategy as a long-term financial hedge.

The move places Green Minerals among 245+ companies holding over US$88 billion in BTC globally. However, the market did not immediately reward the announcement — shares dropped nearly 20 percent before stabilizing.

To increase transparency, the firm plans to report BTC-per-share data for investors going forward.

Metaplanet raises US$515 million in single-day stock exercise

Japan’s Metaplanet raised ¥74.9 billion (about US$515 million) in one day by exercising stock acquisition rights under its aggressive bitcoin treasury plan. The firm issued 54 million new shares, representing 29 percent of its current outstanding rights, as part of the so-called “555 Million Plan.”

While Metaplanet stock initially plunged 15 percent, it recovered and closed 4 percent higher after the announcement. CEO Simon Gerovich called it a “strategic milestone,” reaffirming the firm’s dedication to bitcoin-backed value creation.

Separately, France-based Blockchain Group also raised US$4.8 million via an equity issuance agreement with TOBAM. The two companies continue to expand their BTC-per-share holdings, with Blockchain Group now holding 1,653 BTC in Europe.

EU set to ignore ECB’s stablecoin warning, push ahead with new rules

The European Commission is preparing to introduce new stablecoin regulations despite repeated warnings from the European Central Bank (ECB). According to the Financial Times, the upcoming guidance would treat foreign-issued stablecoins as functionally equivalent to their EU counterparts.

The ECB has warned that this could disrupt monetary stability by encouraging deposit flight from banks into crypto.

ECB President Christine Lagarde recently urged lawmakers to fast-track the digital euro, arguing it would safeguard financial autonomy from US-dominated stablecoins.

Despite these concerns, Commission sources say the risk of a stablecoin run is minimal, and any redemptions would mostly occur in the US where reserves are held.

The new rules are expected to be unveiled within days.

South Korean banks collaborate on won-backed stablecoin

According to Econovill, a South Korean media outlet that focuses on economic and financial news, eight major South Korean banks are working together to introduce a won-pegged stablecoin

Expected to launch in late 2025 or early 2026, the project is backed by the Open Blockchain nonprofit, the Decentralized Identity Association and the Korea Financial Telecommunications and Clearings Institute and is considered a significant pioneering step for traditional banks entering the digital asset space.

The announcement follows a report published in Yonhap News on Tuesday (June 24), which cited Bank of Korea Deputy Governor Ryoo Sang-dai’s suggestions that regulated banks be the main issuers of stablecoins.

He also advised beginning with won-denominated stablecoins before expanding into other areas. According to the report, this approach aims to create a safety net for the financial system.

Reuters reported that during a press conference in Seoul earlier this month, Governor Sang-dai expressed concerns about a won-pegged stablecoin, despite not opposing it. He noted that such a stablecoin could unintentionally facilitate the exchange of won for USD. Sang-dai added that this trend could negatively impact South Korea’s currency and hinder the central bank’s monetary management strategies.

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.

This post appeared first on investingnews.com

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Shell Denies Interest in BP Takeover, Freezing Potential Deal for Six Months

Investing 4 Mins Read

Shell (NYSE:SHEL) has moved quickly to shut down speculation about a takeover bid for BP (LSE:BP,NYSE:BP), issuing a formal statement under the UK Takeover Code.

According to the company, no talks have taken place and it has no intention of making an offer.

“In response to recent media speculation Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer,” the company said in a statement released Thursday (June 26) morning.

The clarification came after the Wall Street Journal reported that Shell was in early stage discussions to acquire BP, citing unnamed sources familiar with the matter.

The report characterizes the potential tie up as a “landmark combination” of two supermajor oil companies — one that could rival Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) in scale and reach. It would also represent the largest corporate oil merger since the US$83 billion creation of ExxonMobil at the turn of the century.

Shell’s formal denial triggers Rule 2.8 of the UK City Code on Takeovers and Mergers, barring it from making a bid for BP for the next six months, except under limited circumstances — such as BP inviting an offer, a third-party bid emerging or a material change in circumstances. In doing so, it quells investor anticipation about an energy mega-merger.

“This is a statement to which Rule 2.8 of the Code applies and accordingly Shell confirms it has no intention of making an offer for BP. As a result, Shell will be bound by the restrictions set out in Rule 2.8 of the Code,” the company states.

BP shares react, market speculation continues

The Journal’s report briefly pushed BP shares higher on Wednesday (June 25) before Shell’s denial tempered gains.

As of Thursday, BP’s share price remains one of the most underperforming among major oil companies, still lagging behind competitors after its much-criticized 2020 strategy to shift away from fossil fuels and ramp up its focus on renewables — an approach it has recently walked back.

BP’s market cap currently stands at around US$80 billion. Factoring in a takeover premium, any bid would likely surpass that amount, placing it as potentially the biggest deal of 2025 and the largest in the energy sector in decades.

Shell, which has a market value exceeding US$200 billion, would have to weigh substantial integration and regulatory challenges in any potential transaction. As mentioned, the company would be able to revisit a bid if BP’s board invites it, or if a third-party competitor steps forward, keeping the door technically and legally open.

Fueling the acquisition rumors is mounting pressure from activist hedge fund Elliott Investment Management, which holds over 5 percent of BP’s shares. Elliott has pushed for sharper cost discipline and improved shareholder returns at the company, criticizing what it views as BP’s inconsistent strategy.

In response, BP has taken steps to refocus on core hydrocarbons. It has boosted oil and gas production targets, slashed clean energy investments and begun unloading non-core businesses. The company is in the process of selling its Castrol-branded lubricants division and is exploring divestment from its solar joint venture, Lightsource BP.

BP also announced earlier this month that Chairman Helge Lund — seen as the architect of the company’s now-receding green transition — is set to step down. The leadership shakeup adds to speculation that BP is becoming more receptive to investor demands and, potentially, corporate consolidation.

Whether or not a Shell-BP deal ever materializes, the broader M&A wave sweeping the oil and gas sector shows no signs of slowing. Chevron is in the process of finalizing its US$53 billion acquisition of Hess (NYSE:HES), though that deal faces legal challenges from Exxon Mobil, which holds overlapping interests.

Exxon itself completed a US$60 billion purchase of Pioneer Natural Resources last year. Diamondback Energy’s (NASDAQ:FANG) US$26 billion acquisition of Endeavor Energy Resources in the Permian Basin also reflects the growing appetite for consolidation in an industry facing long-term cost pressures and uncertain regulatory futures.

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

This post appeared first on investingnews.com

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Nvidia CEO Huang sells $15 million worth of stock, first sale of $873 million plan

Business 2 Mins Read

Nvidia CEO Jensen Huang sold 100,000 shares of the chipmaker’s stock on Friday and Monday, according to a filing with the U.S. Securities and Exchange Commission.

The sales are worth nearly $15 million at Tuesday’s opening price.

The transactions are the first sale in Huang’s plan to sell as many as 600,000 shares of Nvidia through the end of 2025. It’s a plan that was announced in March, and it’d be worth $873 million at Tuesday’s opening price.

The Nvidia founder still owns more than 800 million Nvidia shares, according to Monday’s SEC filing. Huang has a net worth of about $126 billion, ranking him 12th on the Bloomberg Billionaires Index.

The 62-year-old chief executive sold about $700 million in Nvidia shares last year under a prearranged plan, too.

Nvidia stock is up more than 800% since December 2022 after OpenAI’s ChatGPT was first released to the public. That launch drew attention to Nvidia’s graphics processing units, or GPUs, which were needed to develop and power the artificial intelligence service.

The company’s chips remain in high demand with the majority of the AI chip market, and Nvidia has introduced two subsequent generations of its AI GPU technology.

Nvidia continues to grow. Its stock is up 9% this year, even as the company faces export control issues that could limit foreign markets for its AI chips.

In May, the company reported first-quarter earnings that showed the chipmaker’s revenue growing 69% on an annual basis to $44 billion during the quarter.

This post appeared first on NBC NEWS

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Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

Business 4 Mins Read

Chris Schwegmann is getting creative with how artificial intelligence is being used in law.

At Dallas-based boutique law firm Lynn Pinker Hurst & Schwegmann, he sometimes asks AI to channel Supreme Court Chief Justice John Roberts or Sherlock Holmes.

Schwegmann said after uploading opposing counsel’s briefs, he’ll ask legal technology platform Harvey to assume the role of a legal mind like Roberts to see how the chief justice would think about a particular problem.

Other times, he will turn to a fictional character like Holmes, unlocking a different frame of mind.

“Harvey, ChatGPT … they know who those folks are, and can approach the problem from that mindset,” he said. “Once we as lawyers get outside those lanes, when we are thinking more creatively involving other branches of science, literature, history, mythology, that sometimes generates some of the most interesting ideas that can then be put, using proper legal judgement, in a framework that works to solve a legal problem.”

It’s just one example of how smaller businesses are putting AI to work to punch above their weight, and new data shows there’s an opportunity for much more implementation in the future.

Only 24% of owners in the recent Small Business and Technology Survey from the National Federation of Independent Business said they are using AI, including ChatGPT, Canva and Copilot, in some capacity.

Notably, 98% of those using it said AI has so far not impacted the number of employees at their firms.

At his trial litigation firm of 50 attorneys, Schwegmann said AI is resolving work in days that would sometimes take weeks, and said the technology isn’t replacing workers at the firm.

It has freed up associate lawyers from doing “grunt work,” he said, and also means more senior-level partners have the time to mentor younger attorneys because everyone has more time.

The NFIB survey found AI use varied based on the size of the small business. For firms with employees in the single digits, uptake was at 21%. At firms with fifty or more workers, AI implementation was at nearly half of all respondents.

“The data show clearly that uptake for the smallest businesses lags substantially behind their larger competitors. … With a little attention from all the relevant stakeholders, a more equal playing field is possible,” the NFIB report said.

For future AI use, 63% of all small employers surveyed said the utilization of the technology in their industry in the next five years will be important to some degree; 12% said it will be extremely important and 15% said it will not be important at all.

Some of the most common uses in the survey were for communications, marketing and advertising, predictive analysis and customer service.

“We still have the need for the independent legal judgment of our associate lawyers and our partners — it hasn’t replaced them, it just augments their thinking,” Schwegmann said. “It makes them more creative and frees their time to do what lawyers do best, which is strategic thought and creative problem solving.”

The NFIB data echoes a recent survey from Reimagine Main Street, a project of Public Private Strategies Institute in partnership with PayPal.

Reimagine surveyed nearly 1,000 small businesses with annual revenue between $25,000 and $50,000 and also found that a quarter had already started integrating AI into daily workflows.

Schwegmann said at his firm, AI is helping to even the playing field.

“One of the things Harvey lets us do is review, understand and incorporate and respond much faster than we would prior to the use of these kinds of AI tools,” he said. “No longer does a party have an advantage because they can paper you to death.”

This post appeared first on NBC NEWS

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Offense vs. Defense: How Geopolitical Tensions Shape Market Trends

Stock 4 Mins Read

As the cycle of uncertainty continues to yield confusion than clarity, investors are again caught having to decide between taking an offensive and defensive posture in the market. The tough part in today’s market environment is how fast situations can shift. With headlines driving the action, sentiment can flip on a dime. So how do you position yourself when breaking news drives the market?

No one can predict how the stock market will play out in the coming months. But keeping an eye on the ratio of “offense” to “defense” stocks can offer some clues. This may not give you a decisive trade scenario, but it can provide a clearer context that can help you form a more bullish or bearish decisive bias.

For this article, let’s refer to the StockCharts Market Summary tool and zoom in on the Technology vs. Utilities ratio (XLK:XLU), which you can find in the Key Ratios – Offense vs Defense panel.

Why XLK:XLU Ratio Matters

This ratio compares the Technology Select Sector SPDR Fund (XLK) with the Utilities Select Sector SPDR Fund (XLU), both being sector proxies (see the one-year ratio chart below).

FIGURE 1. TECH VS UTILITIES RATIO: From a one-year perspective, utilities have outperformed tech.

The key question is whether capital will continue chasing innovation and growth or seek shelter in the relative stability of power grids and water systems. The answer, when it eventually comes, could signal the economy’s next move.

On the one-year chart, the XLK:XLU ratio shows an attempted recovery from a general decline. Note how the ratio percentage is negative. That’s because, over the past year, utilities have generally performed stronger than tech. But we’re seeing tech’s performance strengthening, and a sustained move toward (and eventually into) positive territory would suggest a stronger shift in bullish sentiment.

Notably, XLK and XLU are trading at their respective highs, with XLK already breaking above it. The question remains which sector may be topping or outpacing the other in a more sustained manner.

XLK Breaks Higher: A Bullish Signal?

Here’s a daily chart of XLK.

FIGURE 2. DAILY CHART OF XLK. A proxy for the tech sector, XLK has broken above resistance. The key question now is whether it can hold above this level and follow through, or if it’s topping out amid the current geopolitical uncertainties.

XLK’s surge from its April bottom, including the gap above $243, signals bullish momentum. It’s also trading above the 200-day simple moving average (SMA) while its StockCharts Technical Rank (SCTR) score has climbed above 76, signaling technical strength. Volume-wise, the Chaikin Money Flow (CMF) shows renewed strength in buying pressure, though CMF levels are down considerably since their highest levels in May.

XLU’s Rally: Strong, But Losing Steam

Compare XLK’s chart to XLU’s daily chart.

FIGURE 3. DAILY CHART OF XLU. The Utilities sector is challenging its highs, but is XLU losing steam, and will XLK eventually outpace it?

XLU is attempting to challenge its highs near the $82.50 range, though it hasn’t penetrated the top. Its SCTR score is also bullish at 77, though it’s not as convincing as that of XLK. XLU’s CMF reading also shows weakened buying pressure, as its levels are barely hovering above the zero line.

What These Charts Are Saying

Taken together, these charts aren’t about calling the next big trade. They’re about reading near-term sentiment and getting a feel for where investors think the economy is headed amid this tense geopolitical backdrop.

When both offense and defense are rising, it suggests uncertainty, with capital flowing in both directions. But when one sector pulls ahead, it may signal where institutional money is placing its bets. Whether you’re a short-term trader or long-term investor, tracking this ratio can help anchor your outlook, especially as global events continue to fuel market volatility.

Keep XLK and XLU on your ChartLists and continue to monitor this ratio, along with other comparative tools on the Market Summary page. Also, pay close attention to news developments.

At the Close

The XLK:XLU ratio might not give you the most comprehensive or surefire signal about investor sentiment, but it’s an important piece of the puzzle. It can help you see the bigger picture, which is a crucial step before placing any trades.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

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Stock

How to Use Fibonacci Retracements to Spot Key Levels

Stock 1 Min Read

Join Dave as he shares how he uses the power of Fibonacci retracements to anticipate potential turning points. He takes viewers through the process of determining what price levels to use to set up a Fibonacci framework, and, from there, explains what Fibonacci retracements are telling him about the charts of NCLH, RTX, and the S&P 500

This video originally premiered on June 24, 2025. Watch on StockCharts’ dedicated David Keller page!

Previously recorded videos from Dave are available at this link.

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Shifting Tides in the Stock Market: A New Era for Bulls?

Stock 5 Mins Read

The stock market has been on quite the rollercoaster of late, thanks to news headlines. But investors seem to have shrugged off the past weekend’s geopolitical tensions, at least for now. 

On Tuesday, we saw a surge of enthusiasm. Investors were diving back into stocks and selling off their oil and precious metals holdings. Last week, oil prices spiked amid Middle East tensions, but have now fallen to pre-conflict levels. After what felt like a few weeks of the market moving sideways, maybe the stock market got the catalyst it needed to push the major indexes out of their trading range. A ceasefire between Israel and Iran was enough to get things going.

Stocks Get a Boost

Tuesday’s positive tone helped move the stock market higher, with the S&P 500 ($SPX) closing up 1.1%, finally breaking above the top of its trading range. The Nasdaq Composite ($COMPQ) followed suit, with both indexes within spitting distance of their all-time highs. The Nasdaq 100 ($NDX), which closed 1.53% higher, hit a new all-time high. And let’s not forget the Dow Industrials ($INDU), which is also making a strong attempt to push through key resistance levels, even though it’s a little bit further from its all-time high.

Given the Nasdaq 100’s strong performance on Tuesday, it’s worth taking a closer look at the daily chart of the Invesco QQQ Trust (QQQ).

FIGURE 1. DAILY CHART OF QQQ. The ETF hit a new high on June 24 with a potential Golden Cross. If the relative strength index and percentage price oscillator confirm upside momentum, QQQ could rise higher.Chart source: StockCharts.com. For educational purposes.

Besides hitting a new high, note that the 50-day simple moving average (SMA) crossed above the 200-day SMA. This is referred to as a Golden Cross and can be an early sign of bullishness. While it’s not a guaranteed “green light” at such an early stage, it’s worth watching to see if the 50-day SMA continues to stay above the 200-day SMA.

The relative strength index (RSI) is getting closer to overbought territory. If it crosses above 70, it would be another sign of strong bullish momentum. Similarly, the percentage price oscillator (PPO) needs to move into positive territory, meaning the shorter moving average should cross above the longer one. They’re close, but remember these are lagging indicators, meaning they’ll confirm trends that are already underway. Thus, if the 50-day SMA remains above the 20-day SMA, RSI crosses above 70, and PPO confirms upside momentum, it would confirm further upside move in QQQ.

Another interesting point to note: The Cboe Volatility Index ($VIX) closed at 17.48, which suggests investors are relatively complacent. The VIX was relatively subdued during the Middle East conflict, hitting a high of around 22. With less fear, the charts of the major indexes look like they’re going to hit fresh highs. On Tuesday, Technology, Financials, and Communication Services were the top-performing sectors.

Tech Regains Lead

The Technology sector was powered by semiconductors, which have been driving the market lately. The VanEck Vectors Semiconductor ETF (SMH) has broken above the range it’s been trading within for the last couple of weeks and is now close to its 52-week high (see daily chart of SMH below).

FIGURE 2. DAILY CHART OF SMH. Semiconductors have been driving the stock market lately and broke out above the range from the last couple of weeks.Chart source: StockCharts.com. For educational purposes.

Looking at individual stocks, NVIDIA Corp. (NVDA) was the most actively traded S&P 500 stock. A handful of big names are hitting new all-time highs, too; this includes Broadcom, Inc. (AVGO), Cisco Systems, Inc. (CSCO), International Business Machines (IBM), JP Morgan Chase (JPM), Microsoft Corp. (MSFT), and Netflix Inc. (NFLX), just to name a few. For the complete list, check out the “New Highs” panel in your StockCharts Dashboard; you’ll likely notice a significant percentage of tech stocks on the list.

The positive price action on Tuesday suggests investors are rotating into growth stocks, which signals further upside moves in the S&P 500 and Nasdaq stocks. Here’s a more encouraging sign: even the S&P 500 Equal-Weighted Index ($SPXEW) is breaking out and moving towards its highs. This indicates that the market’s strength isn’t limited to a few big, heavily-weighted growth stocks; participation is much broader.

Travel Stocks Get a Lift

Beyond tech stocks, consumer discretionary stocks also traded higher. The top three performers in the Consumer Discretionary sector were Carnival Corp. (CCL), Norwegian Cruise Lines Holdings (NCLH), and Caesars Entertainment (CZR). The MarketCarpet for the Consumer Discretionary sector below shows travel stocks were strong performers on Tuesday.

FIGURE 3. MARKETCARPET FOR THE CONSUMER DISCRETIONARY SECTOR. The table on the right shows CCL, NCLH, and CZR were the top performers.Image source: StockCharts.com. For educational purposes.

CCL’s stock price gapped up after the company reported strong earnings and guidance. An increase in cruise line bookings indicates consumer sentiment is strong. As a result, cruise lines and travel stocks traded higher. This goes against June’s Consumer Confidence report, which showed weakening confidence. It didn’t seem to impact the market, but it may come back to bite us depending on what news headlines we are likely to receive on Wednesday.

Closing Position

Tuesday’s price action suggests that equities are back on their bullish track after a period of consolidation. Will the upside move hold, or will a negative news headline bring the bears back into the market?

This is where your StockCharts tools come in handy! Keep a close eye on the performance of the major indexes and other helpful indicators such as the RSI and PPO. By using these tools, you can stay on top of the stock market and make investment decisions with greater confidence.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

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