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Crypto Market Update: Dual XRP ETF Launch Lifts Altcoin Prices

Investing 5 Mins Read

Here’s a quick recap of the crypto landscape for Monday (November 24) as of 9:00 p.m. UTC.

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

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$89,102.53, up 1.9 percent in 24 hours.

Its price showed a short-term gain after last week’s rout, which saw over US$1.2 billion in spot BTC ETF outflows, marking the third consecutive week with over US$1 billion in outflows, according to SoSoValue.

Bitcoin price performance, November 24, 2025.

Chart via TradingView

However, market sentiment remains very cautious, with the Fear and Greed Index reading 12 at market close. Increased open interest and large short liquidations suggest potential volatility and possible rebound dynamics.

“In the short term, a rebound is highly likely, but if we fall again and lose the US$80,000 level, the probability of facing a much tougher period becomes significantly higher,” CryptoQuant said in a post on X.

Bitcoin’s RSI at 58.52 indicates a moderately bullish momentum, but is still comfortably below overbought territory.

A -0.005 funding rate indicates traders are still somewhat bearish, but short liquidations may start to shift momentum upward. Economic data due later this week could uplift markets if it reinforces expectations of interest rate cuts. Market odds of a rate cut in December have risen recently, with many sources placing the probability around 70-79 percent.

Meanwhile, ETH (ETH) was US$2,973.36, up by 5.1 percent in 24 hours. Liquidations of US$39.75 million, predominantly in short positions, may have fueled upward price pressure through a short squeeze.

Open interest rose 3.07 percent to US$35.93 billion, suggesting increasing trader engagement and speculative activity in ETH derivatives. A funding rate of 0 reflected a balance between bullish and bearish sentiment among traders at this moment.

Altcoin price update

  • XRP (XRP) was priced at US$2.26, up by 9.2 percent over 24 hours.
  • Solana (SOL) was trading at US$138.82, up by 4.7 percent over 24 hours.

Today’s crypto news to know

Cardano Chain Split and Etherscan API Outage Highlight DeFi Risks Amid Tensions with JPMorgan

Recent events in the crypto ecosystem have underscored the vulnerabilities and institutional challenges facing DeFi investors. On Friday (November 21), Cardano (CAD) experienced an accidental chain split triggered by a malformed transaction, temporarily dividing the blockchain into two competing chains.

The disruption exposed weaknesses in network resilience and stake pool operations, causing lost block rewards and transaction irregularities in DeFi protocols dependent on Cardano’s network stability.

Then, Etherscan unexpectedly cut off API access to roughly 10 percent of its blockchains and networks. This sudden outage occurred during the DevConnect conference, impairing developers’ ability to manage smart contracts effectively, further revealing how dependent DeFi investors are on the reliability of ancillary infrastructure like blockchain explorers and data providers.

These events came amid growing tensions involving JPMorgan Chase & Co. (NYSE:JPM). The banking giant has drawn ire from the crypto community for reportedly influencing the MSCI to exclude digital asset treasury companies holding more than 50 percent of their assets in cryptocurrencies.

JPMorgan’s research warned that exclusion could trigger forced sell-offs potentially totaling up to US$8.8 billion, with MicroStrategy alone possibly facing US$2.8 billion in outflows. The final decision will be announced Jan. 15 with changes taking effect in February.

The bank then upgraded ratings on Monday for BTC mining companies Cipher Mining (NASDAQ:CIFR) and CleanSpark (NASDAQ:CLSK) to overweight from neutral, citing strong momentum in high-performance computing partnerships and long-term cloud and colocation deals that improve revenue visibility.

JPMorgan’s stance highlights the institutional and regulatory tensions complicating the interface between traditional finance and the fast-evolving crypto ecosystem.

Franklin Templeton and Grayscale lift altcoin markets with launch of XRP ETFs

The Franklin XRP ETF and the Grayscale XRP Trust ETF both launched on NYSE Arca today, providing new regulated investment options for XRP exposure.

Investor response was prompt, with early trading volumes indicating strong demand and positive sentiment around XRP’s future prospects as reflected in both ETFs’ market reception. Market watchers see this dual launch as a major step toward integrating crypto assets like XRP into traditional finance frameworks, enhancing liquidity and investor confidence.

“Historically, new ETF listings have catalyzed inflows and improved liquidity, but this time, the launches are colliding with tight liquidity, low investor confidence and pronounced market underperformance,” he explained. “This is creating an unusually complex test for many investors’ risk appetite.

“However, as market sentiment has been so underwhelming in recent times, the ETF season hitting the market at its current condition may be when they can make the most significant contribution to the digital asset economy this year.”

Ray added that the launch of altcoin ETFs is creating a steady flow of capital into the digital asset market, providing a liquidity buffer. This momentum could lead to an end-of-year rally, potentially pushing prices higher for altcoins like Ether, XRP and Solana.

Michael Burry debuts newsletter after Scion shutdown

Michael Burry, best known for his prescient bet against the US housing market in 2008, has launched a paid Substack newsletter soon after closing his hedge fund, Scion Asset Management.

In his introductory post, Burry emphasized that the move does not mark retirement but rather a shift toward writing without the regulatory constraints that accompany professional money management.

Priced at US$39 per month, the newsletter quickly drew more than 21,000 subscribers. Early essays revisit his trading history during the dot-com era and outline why he views today’s AI-driven boom as a supply-glutted bubble primed for correction.

With Scion now closed, Burry says the newsletter will become his primary outlet for analysis as he continues to track what he views as speculative excess building across technology markets.

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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Canada, India Close to Resuming Uranium Trade After Diplomatic Freeze

Investing 3 Mins Read

Canada is preparing to unveil a multibillion-dollar uranium export agreement with India, marking the strongest sign yet that the two countries are rebuilding ties after a two-year diplomatic freeze.

Two people familiar with the negotiations revealed that the deal, valued at roughly US$2.8 billion, would run for up to a decade and position Canadian producer Cameco (TSX:CCO,NYSE:CCJ) as a long-term supplier to India’s expanding nuclear power sector.

The final terms are still being refined, the sources cautioned, but the agreement is expected to be announced in the coming days.

The deal, if it pushes through, would form part of the formal attempt of both parties to revive economic cooperation after a period of political strain.

This culminated last weekend in a decision by Prime Minister Mark Carney and Indian Prime Minister Narendra Modi to restart long-stalled trade talks. The former has also accepted the latter’s invitation to visit India in 2026.

Both leaders signaled their intention to pursue a comprehensive economic partnership as they seek alternatives to increasingly unpredictable US trade policy.

According to two sources, the new agreement will not be a renewal but an entirely separate, larger commitment.

The pending export deal would go well beyond the countries’ previous uranium pact: a five-year, roughly US$350-million arrangement signed in 2015 that allowed India to buy Cameco uranium for civilian nuclear use.

In a recent press release, India’s Ministry of External Affairs also noted that “both sides reaffirmed their longstanding civil nuclear cooperation and noted the ongoing discussions on expanding collaboration, including through long-term uranium supply arrangements.”

India’s interest reflects its growing nuclear-power ambitions. The country operates about 25 reactors—many based on the Canadian-designed CANDU system—with six more under construction.

As electricity demand climbs and the government pushes to reduce carbon emissions, securing reliable uranium supplies has become a strategic priority for New Delhi. Expanded cooperation with Canada could also extend into small modular reactors, an area Ottawa has been promoting as part of its clean energy strategy and transition.

For Canada, the deal furthers its goals of developing a stable domestic nuclear supply. The country is the world’s second-largest producer of uranium, responsible for about 13 percent of global output, and holds some of the highest-grade deposits in the world.

Nearly 85 percent of Canadian uranium is exported primarily from mines in northern Saskatchewan. The industry generates around US$800 million in annual economic activity and employs more than 2,000 people, including many Indigenous and northern workers.

The diplomatic significance of the deal is equally notable. Relations between Canada and India plummeted in September 2023 after then-prime-minister Justin Trudeau accused New Delhi of involvement in the killing of Canadian Sikh activist Hardeep Singh Nijjar, an allegation India rejected.

The allegations led to trade talks being suspended, and political contact between the two countries sharply diminished.

While Canadian authorities continue to investigate the matter, Carney has signaled that he wants to move economic relations forward, particularly as he seeks to diversify exports away from the US under President Donald Trump.

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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Brunswick Exploration to Begin a Lithium Exploration Initiative in the Kingdom of Saudi Arabia

Investing 5 Mins Read

Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; FRANKFURT:1XQ; ‘ BRW ‘ or the ‘ Company ‘) is pleased to announce that it has identified the Kingdom of Saudi Arabia (the ‘ KSA ‘ or ‘ Saudi Arabia ‘) as highly prospective for lithium exploration. To support this new initiative and as an initial entry step into the country, BRW was awarded an exploration license in Saudi Arabia. BRW is the first hard-rock lithium company to outline and embark on a country-wide systematic exploration program in Saudi Arabia. This complements the Company’s highly successful efforts in Canada, where a maiden resource for the Mirage project is expected in early Q1 2026 and in Greenland, where an inaugural drill program is planned for 2026.

Mr. Killian Charles, President and CEO of BRW, commented: ‘Following the completion of our grassroots campaign in Greenland, we have continuously sought to utilize and leverage our unique lithium exploration expertise and Saudi Arabia is an under-explored jurisdiction for lithium with exceptional potential.’

‘Importantly, prospecting in Saudi Arabia is preferentially executed during the seasonally colder months in Canada and Greenland, allowing BRW to generate prospecting results twelve months of the year. The team is currently planning a prospecting campaign which will commence in H1 2026. This program, in addition to our forthcoming MRE at Mirage, our new discovery neighboring Rio Tinto’s Galaxy project and our future work in Greenland, promises an exciting start to the year for Brunswick Exploration.’

Exploration License

The Exploration License has been awarded pending final government approval, while the Company completes the administrative requirements to conduct exploration in the country. The license area is located roughly 150 km from the city of Buraydah and roughly 450 km east from Riyadh, the capital city of Saudi Arabia. The claim area is easily accessible by major highways and has smaller roads throughout the property. The license was selected based on preferred geology, geochemistry, and interpreted satellite imagery for a total license area of 8,467 ha.

Saudi Arabia Fundamentals

Saudi Arabia has a long mining history with well-established mining laws and strong government funding. With a supportive and pro-mining government, favorable geology, great outcrop exposure, and exceptional road access in a region of little to no historic hard rock lithium exploration, this presents a fantastic opportunity for BRW.

Saudi Arabia is actively establishing itself as a major lithium processing hub to support Middle Eastern demand. This foresight is part of the KSA’s larger program known as Saudi Vision 2030, which includes developing its resources outside of the oil and gas industry. Overall, KSA is a well-established mining jurisdiction with prominent major and junior mining companies such as Barrick, Ivanhoe Electric, Tinka Resources, and Power Metallic actively exploring there.

Qualified Person

The scientific and technical information related to this press release has been reviewed and approved by Mr. Charles Kodors, Manager, International Projects. He is a Professional Geologist registered in New Brunswick and Quebec.

About Brunswick Exploration

BRW is a Montreal-based mineral exploration company focused on grassroots exploration for lithium, a critical metal necessary to global decarbonization and energy transition. The Company is rapidly advancing its extensive portfolio of grassroots lithium properties and projects in Quebec (Mirage and Anatacau), Greenland (Nuuk Lithium) and the Kingdom of Saudi Arabia.

Investor Relations/information

Mr. Killian Charles, President and CEO ( info@BRWexplo.ca )

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

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

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Blackrock Silver Announces Annual General Meeting Results

Investing 3 Mins Read

Blackrock Silver Corp. (TSXV: BRC,OTC:BKRRF) (OTCQX: BKRRF) (FSE: AHZ0) (the ‘Company’ or ‘Blackrock’) is pleased to report that all resolutions proposed and voted on at the Annual General Meeting of its shareholders held on November 21, 2025, in Vancouver, British Columbia (the ‘Meeting’) were approved.

At the Meeting, shareholders of the Company: (i) approved the election of William (Bill) Howald, David Laing, Thomas (Tom) Peregoodoff, Andrew Pollard, Daniel Vickerman and Antony (Tony) Wood as directors of the Company; (ii) approved the appointment of the Company’s auditor, BDO Canada LLP, Chartered Professional Accountants, as the independent auditor of the Company and the fixing of the auditor’s remuneration; and (iii) approved and confirmed the Company’s Omnibus Equity Incentive Compensation Plan (the ‘Omnibus Plan‘).

A summary of all of the items approved at the Meeting (including details of the Omnibus Plan) are described in the Company’s Information Circular dated October 8, 2025, which can be found under the Company’s profile on SEDAR+ at www.sedarplus.ca. The Omnibus Plan, in its entirety, is attached as Schedule ‘A’ to the Information Circular provided to shareholders of the Company in respect of the annual general meeting of the Company’s shareholders held on December 15, 2023.

After the Meeting, the directors of the Company: (i) appointed the following officers of the Company: Andrew Pollard as President and Chief Executive Officer, William (Bill) Howald as Executive Chairman, Randy Minhas as Chief Financial Officer, Daniel Vickerman as SVP, Corporate Development and Amit Kumar as Corporate Secretary; and (ii) appointed Thomas (Tom) Peregoodoff as the Lead Director.

About Blackrock Silver Corp.

Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration and development company driven to add shareholder value. Anchored by a seasoned Board of Directors, the Company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.

Additional information on Blackrock Silver Corp. can be found on its website at www.blackrocksilver.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.

For further information, please contact:
Andrew Pollard, President & Chief Executive Officer
Blackrock Silver Corp.
Phone: (604) 817-6044
Email: andrew@blackrocksilver.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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275628

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

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Crypto Market Update: Wall Street Pulls Back US$5 Billion as Bitcoin Premium Shrinks

Investing 4 Mins Read

Here’s a quick recap of the crypto landscape for Monday (November 24) as of 9:00 a.m. UTC.

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

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$86,884.76, down by 1 percent over 24 hours. Its lowest price of the day was US$85,545.99, and its highest was US$87,995.12.

Bitcoin price performance, November 24, 2025.

Chart via TradingView

Ether (ETH) was at US$2,835.53, down 0.2 percent over 24 hours. Its lowest price on Monday was US$2,770.21 and its highest was US$2,881.29.

Altcoin price update

  • XRP (XRP) was priced at US$2.07, up by 1.2 percent over 24 hours. Its lowest price of the period was US$2.03 and its highest was US$2.10.
  • Solana (SOL) was trading at US$130.37, down by 0.7 percent over 24 hours. Its lowest price of the day was US$128.65 and its highest was US$133.96.

Today’s crypto news to know

Wall Street firms scale back MicroStrategy exposure

Fresh filings show major US asset managers cut their exposure to Strategy (NASDAQ:MSTR) (formerly MicroStrategy) through the third quarter, reducing positions by more than US$5 billion as the stock’s premium to its Bitcoin holdings continued to compress.

The company’s mNAV multiple has fallen close to parity as the market reassesses how much extra value investors are willing to assign to a Bitcoin-heavy corporate balance sheet. Pressure intensified after JPMorgan warned clients that MSCI is weighing whether companies with more than half of their assets in crypto should remain eligible for major equity indexes.

Index exclusion would not affect operations, Strategy chairman Michael Saylor said, but it has accelerated debate about the long-term viability of the digital-asset-treasury model.

Filings indicate that investment firms like BlackRock, Vanguard, and Capital International all pared their holdings, even as Bitcoin remained relatively stable earlier in the quarter.

Analysts say institutional investors could continue reducing exposure to corporate BTC proxies if volatility persists, as Bitcoin now faces one of its sharpest drawdowns since 2022.

JPMorgan hit by backlash After new debanking allegations

JPMorgan Chase & Co. (NYSE:JPM) is facing an uproar from Bitcoin advocates after Strike CEO Jack Mallers disclosed that the bank abruptly closed his personal accounts in September without explanation.

According to a report by the The Street, the news came just days after a JPMorgan research note highlighted MSCI’s proposal to exclude companies holding more than 50 percent. of their assets in crypto from its flagship indexes.

The move was widely interpreted as targeting Bitcoin-treasury firms such as Strategy. Crypto advocates quickly labeled the developments a revival of “Operation Chokepoint 2.0,” arguing that major banks and regulators are again restricting access to financial services for digital-asset firms and their executives.

The controversy has prompted calls across Bitcoin forums and social media for a coordinated boycott of JPMorgan, echoing earlier grievances about sudden account closures dating back to 2017.

Michael Burry debuts newsletter after Scion shutdown

Michael Burry, best known for his prescient bet against the US housing market in 2008, has launched a paid Substack newsletter soon after closing his hedge fund, Scion Asset Management.

In his introductory post, Burry emphasized that the move does not mark retirement but rather a shift toward writing without the regulatory constraints that accompany professional money management.

Priced at US$39 per month, the newsletter quickly drew more than 21,000 subscribers. Early essays revisit his trading history during the dot-com era and outline why he views today’s AI-driven boom as a supply-glutted bubble primed for correction.

With Scion now closed, Burry says the newsletter will become his primary outlet for analysis as he continues to track what he views as speculative excess building across technology markets.

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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Pinnacle Flies LiDAR Survey at El Potrero

Investing 4 Mins Read

(TheNewswire)

LiDAR, or Light Detection and Ranging, is a remote sensing technology that uses laser light to ‘see through’ vegetation and soil cover to measure distances, with 15-30 cm scale accuracy, to underlying rock surfaces.  In this way, it can map out features such as structures and lithological contacts that can be related to mineralization but may not be exposed at surface.  The survey also included colour aerial photography with 10-15 cm resolution that will assist in surface exploration and planning of infrastructure upgrades.

‘Although we have been able to follow and map out the Dos de Mayo vein system along strike for approximately 1,600 metres so far, our geologists are restricted by the amount of outcrop exposure ,’ stated Robert Archer, Pinnacle’s President & CEO.  ‘The LiDAR survey should allow us to ‘connect the dots’ along this structural trend and allow us to better define not only the main vein but parallel and splay veins nearby.  This knowledge, along with additional features such as flexures and fault offsets in the vein structures, will be crucial for interpreting the geological environment and planning the surface drill program.  In addition, LiDAR is known for its ability to detect subtle and sometimes buried features such as old mine workings, overgrown pits and trenches that could lead to the discovery of previously unknown mineralization.’

Qualified Person

Mr. Jorge Ortega, P. Geo, a Qualified Person as defined by National Instrument 43-101, and the author of the NI 43-101 Technical Report for the Potrero Project, has reviewed, verified and approved for disclosure the technical information contained in this news release.

About the Potrero Property

El Potrero is located in the prolific Sierra Madre Occidental of western Mexico and lies within 35 kilometres of four operating mines, including the 4,000 tonnes per day (tpd) Ciénega Mine (Fresnillo), the 1,000 tpd Tahuehueto Mine (Luca Mining) and the 250 tpd Topia Mine (Guanajuato Silver).

High-grade gold-silver mineralization occurs in a low sulphidation epithermal breccia vein system hosted within andesites of the Lower Volcanic Series and has three historic mines along a 500 metre strike length.  The property has been in private hands for almost 40 years and has never been systematically explored by modern methods, leaving significant exploration potential.

A previously operational 100 tpd plant on site can be refurbished / rebuilt and historic underground mine workings rehabilitated at relatively low cost in order to achieve near-term production once permits are in place. The property is road accessible with a power line within three kilometres.

Pinnacle will earn an initial 50% interest immediately upon commencing production.  The goal would then be to generate sufficient cash flow with which to further develop the project and increase the Company’s ownership to 100% subject to a 2% NSR.  If successful, this approach would be less dilutive for shareholders than relying on the equity markets to finance the growth of the Company.

About Pinnacle Silver and Gold Corp.

Pinnacle is focused on the development of precious metals projects in the Americas.  The high-grade Potrero gold-silver project in Mexico’s Sierra Madre Belt hosts an underexplored low-sulphidation epithermal vein system and provides the potential for near-term production . In the prolific Red Lake District of northwestern Ontario, the Company owns a 100% interest in the past-producing, high-grade Argosy Gold Mine and the adjacent North Birch Project with an eight-kilometre-long target horizon . With a seasoned, highly successful management team and quality projects, Pinnacle Silver and Gold is committed to building long -term , sustainable value for shareholders.

Signed: ‘Robert A. Archer’

President & CEO

For further information contact :

Email: info@pinnaclesilverandgold.com

Tel.:  +1 (877) 271-5886 ext. 110

Website: www.pinnaclesilverandgold.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Locksley Strengthens U.S. Defense Supply Chain Strategy with Appointment of Lockhead Martin Materials Leader to Advisory Board

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Locksley Resources Ltd. (ASX: LKY,OTC:LKYRF; OTCQX: LKYRF) announced the company has appointed Stacy Newstead to its advisory board as Strategic Advisor-Materials Strategy.

Ms. Newstead brings more than 20 years of experience across U.S. government, defense and industrial sectors. She currently serves as Materials Strategy and Risk Manager at Lockheed Martin, where she leads initiatives to secure domestic and allied sources of key materials vital to U.S. defense manufacturing and national security. Her work focuses on assessing and mitigating material pricing and geopolitical risk across supply chains that underpin critical technologies including munitions, batteries, and aerospace systems. Her prior roles include senior program leadership at Huntington Ingalls Industries and Textron Systems, as well as CEO of the U.S. subsidiary of Evolution Energy Minerals, where she led onshoring initiatives for graphite and advanced battery materials. More information can be found here:  https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03026929-6A1298599&v=undefined.

‘Stacy’s appointment strengthens Locksley’s ability to engage with U.S. partners and access federal programs supporting domestic critical mineral supply chains,’ said Kerrie Matthews, Locksley CEO. ‘Her deep understanding of defense material supply chains, coupled with her leadership at Lockheed Martin, brings exceptional strategic value to Locksley as we advance our mine-to-market development of American sourced antimony and rare earths.’

Matthews added that Newstead’s perspective on material security and risk is expected to help guide engagement with U.S. industry and government stakeholders as Locksley scales from pilot to commercial operations.

Locksley Resources (https://www.locksleyresources.com.au) is focused on critical minerals in the U.S. The company is actively advancing the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley is executing a mine-to-market strategy for antimony, aimed at reestablishing domestic supply chains for critical materials, underpinned by strategic downstream technology partnerships with leading U.S. research institutions and industry partners. This targeted approach, combined with resource development with innovative processing and separation technologies, positions Locksley to play a key role in advancing U.S. critical materials independence.

Contact: Beverly Jedynak, beverly.jedynak@viriathus.com, 312-943-1123; 773-350-5793 (cell)

View original content:https://www.prnewswire.com/news-releases/locksley-strengthens-us-defense-supply-chain-strategy-with-appointment-of-lockhead-martin-materials-leader-to-advisory-board-302624138.html

SOURCE Locksley Resources

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Stock market sinks as AI and interest rate worries grip investors

Business 4 Mins Read

What began as a banner day for stocks turned into a major rout, as investors signaled ongoing skepticism about the longevity of the artificial intelligence boom and trimmed hopes of support from the Federal Reserve.

The tech-heavy Nasdaq fell 2%, and the broad S&P 500 index dropped by more than 1.5%. The Dow Jones Industrial Average, which tracks 30 top-tier stocks, declined by nearly 390 points. It had been up 700 points earlier in the day. Cryptocurrencies also shed billions in value: Bitcoin had fallen below $87,000 as of late Thursday afternoon, weeks after having set highs above $120,000.

The stunning turnaround added further unease to an already shaky economy that has forced households to trim budgets amid stubborn inflation and signs of a wavering job market. With an ever-increasing part of the economy’s principal driver — consumer spending — now reliant on affluent households, an extended market pullback could inflict wider damage.

‘You don’t have to have the biggest bubble in history for an expensive stock market’ and end up seeing declines, said Matt Maley, chief market strategist at Miller Tabak asset management group.

Traders’ hopes were boosted early Thursday by a better-than-expected jobs report that appeared to show the economy remained resilient. Even before the day began, stocks looked poised to rise after Nvidia, the chipmaker at the heart of the AI boom, reported strong quarterly earnings and revenue.

Yet by midday, markets had turned red. The solid September jobs report diminished the odds that the Federal Reserve will cut interest rates next month to lower the cost of borrowing money to spur economic activity. When investors don’t have to pay as much in interest, they often put those savings into stocks.

“The broad rebound in payrolls suggests diminished risks of a higher unemployment rate,” analysts with Morgan Stanley said in a note published shortly before noon. “We no longer expect a Fed cut in December.”

Losses were further compounded by ongoing concerns about AI — specifically, how much more profitable the companies buying chips like Nvidia’s will be. The fears were articulated Wednesday evening on X by Michael Burry, made famous by the movie ‘The Big Short.’

‘Just because something is used does not mean it is profitable,’ he wrote.

Finally, the ongoing sell-off of bitcoin indicated to some traders that a key source of support for stocks — retail or day traders — were beginning to waver on their trademark ‘buy the dip’ mentality.

‘I wouldn’t say we’ve flipped from bull to bear,’ said Steve Sosnick, chief strategist at Interactive Brokers financial group. ‘I would say we’ve flipped from bull to balanced market in the short term. A lot depends on whether sentiment continues to weaken.’

Stocks had already been showing signs of flagging in recent weeks. With Thursday’s losses, the S&P 500 fell to its lowest point since September.

The long-delayed September jobs report, which showed that the United States added a sturdy 119,000 jobs, appeared to show some glimmers of hope for the economy.

Although the unemployment rate ticked up from 4.3% in August to 4.4%, about 450,000 workers entered the labor force. Economists view that as evidence that job opportunities are still plentiful, despite a wave of corporate layoffs.

Just before the Bureau of Labor Statistics released the jobs report, Verizon told employees it planned to lay off 13,000 employees, or about 13% of its workforce.

The company joined a suite of other blue-chip employers that say they plan to eliminate tens of thousands of jobs, including Amazon, General Motors, IBM, Microsoft, Paramount, Target and UPS.

The details of the jobs report, which captured conditions before the government shutdown, as well more recent jobs data, suggested a more mixed picture for the U.S. economy.

Manufacturing shed 6,000 jobs, continuing a trend in a sector the Trump administration has touted as a key target of its economic policies. Transportation and warehousing also lost 25,300 jobs. Wage growth slowed, and job totals for July and August were revised downward.

The employment gains in September were concentrated in the health care, hospitality and social assistance sectors.

Another snapshot of the economy came courtesy of Walmart, which on Thursday reported strong sales and raised its outlook for the year. That strength points to cracks in the economy, though. Executives said the chain is luring more high-income shoppers who are looking for bargains, and noted that lower-income families are feeling more pressure.

‘As pocketbooks have been stretched, you’re seeing more consumer dollars go to necessities versus discretionary items,’ Chief Financial Officer John David Rainey said on an earnings call Thursday morning.

Walmart’s stock closed 6.5% higher.

This post appeared first on NBC NEWS

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Bitcoin and other crypto assets sink in flight from risk

Business 3 Mins Read

Bitcoin and ether slumped to multi-month lows on Friday, with cryptocurrencies swept up in a broader flight from riskier assets as investors worried about lofty tech valuations and bets on near-term U.S. interest rate cuts faded.

Bitcoin, the world’s largest cryptocurrency, fell 5.5% to a seven-month low of $81,668. Ether slid more than 6% to $2,661.37, its lowest in four months.

Both tokens are down roughly 12% so far this week.

Cryptocurrencies are often viewed as a barometer of risk appetite and their slide highlights how fragile the mood in markets has turned in recent days, with high-flying artificial intelligence stocks tumbling and volatility spiking VIX.

“If it’s telling a story about risk sentiment as a whole, then things could start to get really, really ugly, and that’s the concern now,” Tony Sycamore, a market analyst at IG, said of the fall in bitcoin.

About $1.2 trillion has been wiped off the market value of all cryptocurrencies in the past six weeks, according to market tracker CoinGecko.

Bitcoin’s slide follows a stellar run this year that propelled it to a record high above $120,000 in October, buoyed by favourable regulatory changes towards crypto assets globally.

But analysts say the market remains scarred by a record single-day slump last month that saw more than $19 billion of positions liquidated.

“The market feels a little bit dislocated, a bit fractured, a bit broken, really, since we had that selloff,” said Sycamore.

Bitcoin has since erased all its year-to-date gains and is now down 12% for the year, while ether has lost close to 19%.

Citi analyst Alex Saunders said $80,000 would be an important level as it is around the average level of bitcoin holdings in ETFs.

The selloff has also hurt share prices of crypto stockpilers, following a boom in public digital asset treasury companies this year as corporates took advantage of rising prices to buy and hold cryptocurrencies on their balance sheets.

Shares of Strategy, once the poster child for corporate bitcoin accumulation, have fallen 11% this week and were down nearly 4% in premarket trade, languishing at one-year lows.

JP Morgan said in a note this week that the company could be excluded from some MSCI equity indexes, which could spark forced selling by funds that track them.

Its Japanese peer Metaplanet has tumbled about 80% from a June peak.

Crypto exchange Coinbase was down 1.9% in premarket trade and is on course for its longest losing streak in more than a month.

Crypto miners MARA Holdings and CleanSpark were down 2.4% and 3.6%, respectively, while the Winklevoss twins’ newly-listed Gemini has plunged 62% from its listing price.

“Bitcoin market conditions are the most bearish they have been since the current bull cycle started in January 2023,” said digital asset research firm CryptoQuant in its weekly crypto report on Wednesday.

“We are highly likely to have seen most of this cycle’s demand wave pass.”

This post appeared first on NBC NEWS

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MP Materials, US Department of Defense Strike Saudi Rare Earths Refinery Deal

Investing 3 Mins Read

MP Materials (NYSE:MP) and the US Department of Defense have entered into a joint venture with Saudi Arabia’s Maaden to build a rare earths refinery in the Kingdom, marking the first major project under a new US-Saudi critical minerals cooperation framework signed in Washington this week.

The binding agreement gives both the US and MP a collective 49 percent stake in the refinery.

Maaden will hold not less than 51 percent, and the refinery will be built in Saudi Arabia, where it will process feedstock from both local deposits and international sources. Once operational, it will produce separated light and heavy rare earth oxides for customers in the US, Saudi Arabia and allied countries.

Rare earths are essential for the production of weapons systems, electric vehicles, renewable energy technologies and high-performance electronics. Secure supply has become increasingly important due to China’s sector dominance.

James Litinsky, MP’s founder and CEO, said the company views the partnership as an extension of its strategic role in Washington’s efforts to diversify global supply chains. “We are honored that the U.S. government asked MP to partner on a project of this magnitude and importance for America and its allies,” he said.

Maaden CEO Bob Wilt said the project fits squarely within the Kingdom’s national mining and industrial strategy.

“This JV is a significant step forward in the development of this important global sector, underpinned by the support of Saudi Arabia’s Ministry of Energy and the Ministry of Industry and Mineral Resources,” Wilt noted.

The joint venture was negotiated under a critical minerals framework signed by senior US and Saudi officials this week. The document is intended to formalize cooperation on rare earths, battery metals and other strategic inputs.

For Washington, the initiative reflects an effort to reshape supply chains away from geopolitical competitors. For Riyadh, it supports a long-term plan to leverage energy resources and expand its footprint in high-tech materials markets.

Financially, the deal is structured to be light in capital for MP.

The Department of Defense will fund the entire US contribution to the venture on a non-recourse basis, allowing MP to deploy technical expertise in separation and refining without taking on debt tied to the refinery’s construction.

The Saudi venture also connects to MP’s growing public-private alignment with the US defense sector.

In July, the company and the Department of Defense announced a multibillion-dollar partnership to accelerate the buildout of a domestic rare earth magnet supply chain. Under the partnership, MP is also constructing a second magnet manufacturing facility known as the 10X Facility, which is expected to begin commissioning in 2028.

When completed, MP’s total US magnet output will reach roughly 10,000 metric tons annually.

Beyond government partnerships, MP has also moved into large-scale commercial magnet supply. Also in July, Apple (NASDAQ:AAPL) and MP announced a US$500 million long-term agreement that will supply Apple with magnets manufactured in the US using 100 percent recycled rare earths feedstock.

Under the arrangement, MP will expand its Fort Worth, Texas, Independence factory to produce components for hundreds of millions of Apple devices starting in 2027. Apple and MP spent nearly five years jointly developing recycling techniques to meet the company’s performance and design requirements.

MP will add a dedicated recycling line at Mountain Pass to support commercial scale as magnet production ramps.

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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