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President Donald Trump is being sued by a historic preservation group seeking to stop construction of his new White House ballroom.

The National Trust for Historic Preservation filed a lawsuit Friday against the Trump administration, arguing that it skipped mandatory reviews and failed to seek congressional approval before demolishing the East Wing of the White House.

‘No president is legally allowed to tear down portions of the White House without any review whatsoever — not President Trump, not President Biden, and not anyone else,’ the lawsuit stated. ‘And no president is legally allowed to construct a ballroom on public property without giving the public the opportunity to weigh in.’

Attorneys for the nonprofit argued Trump’s project ‘should be immediately halted’ and work on the 90,000-square-foot ballroom project should be paused until the reviews are completed.

When reached for comment, White House spokesperson Davis Ingle told Fox News Digital, ‘President Trump has full legal authority to modernize, renovate and beautify the White House – just like all of his predecessors did.’ 

Construction on the ballroom started in October, leading to the demolition of the White House’s historic East Wing. The project is being privately funded at an estimated cost of $300 million, up from a $200 million estimate in July when the project was unveiled.

The lawsuit claims the Trump administration failed to submit its demolition plans to the National Capital Planning Commission, the Commission of Fine Arts and Congress before construction began, arguing it is ‘depriving the public of its right to be informed.’

Additionally, the National Trust said the project violates numerous federal statutes, including the Administrative Procedure Act and the National Environmental Policy Act, and claimed Trump circumvented the Constitution. 

‘The President, acting unilaterally, is wholly without constitutional authority to build or demolish anything on federal Grounds,’ the lawsuit stated.

The National Trust is requesting that a federal judge prevent the Trump administration from continuing work on the Ballroom project until the necessary federal commissions have reviewed and approved the project’s plans, an adequate environmental review has been conducted and Congress has authorized the ballroom’s construction.

The White House is expected to submit plans for Trump’s new ballroom to a federal planning commission before the end of the year.

The Associated Press contributed to this report.

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The White House accused Democrats from the House Committee on Oversight and Government Reform of spreading a ‘cherry-picked’ and ‘false narrative’ Friday after they released another batch of photos from Jeffrey Epstein’s estate, this time featuring prominent figures including Donald Trump, Bill Clinton and Woody Allen.

The release comes about a week after the same group said it ‘received never-before-seen photos and videos of Jeffrey Epstein’s private island that are a harrowing look behind Epstein’s closed doors.’

‘Oversight Dems received 95,000 new photos from Jeffrey Epstein’s estate. These disturbing images raise even more questions about Epstein and his relationships with some of the most powerful men in the world. Time to end this White House cover-up. Release the files!’ Oversight Dems said Friday on X.

White House spokeswoman Abigail Jackson accused Democrats of ‘selectively releasing cherry-picked photos with random redactions to try and create a false narrative.’

‘Here’s the reality: Democrats like Stacey Plaskett and Hakeem Jeffries were soliciting money and meetings from Epstein AFTER he was a convicted sex offender,’ she added. ‘The Democrat hoax against President Trump has been repeatedly debunked, and the Trump administration has done more for Epstein’s victims than Democrats ever have by repeatedly calling for transparency, releasing thousands of pages of documents and calling for further investigations into Epstein’s Democrat friends.

‘It’s time for the media to stop regurgitating Democrat talking points and start asking Democrats why they wanted to hang around Epstein after he was convicted.’

House Minority Leader Hakeem Jeffries, D-N.Y., previously has fired back at accusations that he may have had dinner with Jeffrey Epstein or solicited donations from the disgraced financier. A House GOP effort to censure Plaskett also failed in mid-November.

A White House official also told Fox News Friday that the House Democrats selectively chose some of the photos to release, with random redactions intended for political purposes. None of the documents, the official added, have ever shown any wrongdoing by Trump.

Representatives for Clinton, Gates and Allen did not immediately respond Friday to requests for comment from Fox News Digital.

Other images released Friday included photos of sex toys. 

On Wednesday, a federal judge cleared the Justice Department to release secret grand jury transcripts from Epstein’s 2019 sex trafficking case.

U.S. District Judge Richard Berman reversed his earlier decision to keep the transcripts under wraps, citing Congress’ recent action on the Epstein files. Berman had previously warned that the contents of the roughly 70 pages of grand jury materials contain little new information.

That move came just one day after Judge Paul Engelmayer granted the DOJ’s motion to unseal separate grand jury transcripts and exhibits in Ghislaine Maxwell’s criminal case.

Fox News’ Kate Sprague, Anders Hagstrom, Diana Stancy, Emma Colton and Leo Briceno contributed to this report.

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Partisan fights played out publicly in high-profile votes in the Senate this week, but lawmakers are quietly finding common ground in their support of a push to have the unedited footage of Caribbean boat strikes released.

Tucked into the annual National Defense Authorization Act (NDAA) is a provision that would require the Pentagon to release the full, unedited footage of boat strikes carried out in the Caribbean in exchange for Secretary of War Pete Hegseth’s travel budget to be fully funded.

The Trump administration has come under scrutiny on Capitol Hill for repeated strikes on alleged drug boats from Venezuela over the last several months, which came to a head last week in the wake of the deadly Sept. 2 double-strike on an alleged drug boat in the Caribbean Sea.

‘I think we need to see all of the video footage, particularly of the second strike from Sept. 2,’ Sen. Rand Paul, R-Ky., told Fox News Digital.

Lawmakers in the upper chamber don’t know who slipped the provision into the colossal legislative package, including Senate Armed Services Committee Chair Roger Wicker, R-Miss., who told reporters, ‘I would imagine that it got added at the leadership level.’

The massive legislative package sailed through the House on Thursday and is set for a series of procedural tests in the Senate beginning on Monday. And many lawmakers broadly support the release of the footage, particularly of the double-tap strike, to Congress.

Sen. Mike Rounds, R-S.D., who is a member of the Senate Armed Services Committee, told Fox News Digital that his committee, and ‘maybe the [Senate] Intel Committee,’ should have complete access to the unedited footage.

‘And then, based upon that, we can decide whether or not we would push further,’ Rounds said. ‘But let us look at the facts first.’

Sen. Tim Kaine, D-Va., who also sits on the Armed Services Committee, told Fox News Digital that he fully supported the provision and noted that Hegseth and the Pentagon had already released partial footage, treating it like ‘almost a commercial.’

‘So you released part of the video, and you’re banging your chest about it,’ Kaine said. ‘You should release the whole thing.’

Sen. Angus King, I-Maine, agreed and told Fox News Digital that it shouldn’t be a roadblock to passage of the broader defense package, either.

‘There’s no excuse for not releasing it. It shouldn’t. If somebody is not releasing something, it usually tells me that they don’t want it to see the light of day,’ he said. ‘I just want the video of the rest of the strike. That’s not me. It’s the American people who need to see this. They need to know what’s being done in their name.’

During the week, the so-called ‘Gang of Eight,’ which includes Republican and Democratic leadership from the Senate and House along with the chairs and ranking members of the intelligence committees in both chambers, met with Hegseth and Secretary of State Marco Rubio for a briefing on the strikes.

Neither Thune nor Senate Intel Committee Chair Tom Cotton, R-Ark., commented on the briefing, but Senate Minority Leader Chuck Schumer, D-N.Y., characterized it as ‘very unsatisfying.’

‘I asked Secretary Hegseth, Secretary of Defense Hegseth, would he let every member of Congress see unedited videos of the Sept. 2 strike? His answer, ‘We have to study it well,’’ Schumer said. ‘In my view, they’ve studied it long enough. Congress ought to be able to see it.’

Some Republicans support more transparency on the matter, too, including Sen. Steve Daines, R-Mont., who told Fox News Digital that he didn’t ‘have any problem’ releasing the footage.

But he emphasized that the entire point of the strikes was to combat the flow of drugs into the country.

‘We’re losing sight of the most important narrative, and that is, more Americans have died of illegal drugs in the last seven years than World War I, World War II and Vietnam combined,’ Daines said.

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United States Ambassador to the United Nations Michael Waltz recently returned from a Middle East swing, touting the ‘amazing progress’ in the implementation of President Donald Trump’s Israel–Gaza peace deal, and telling Fox News Digital that the situation abroad is ‘night and day to where we were a year ago.’

Fox News Digital spoke exclusively with Waltz Thursday evening, just hours after he returned to the United States from the Middle East.

Waltz traveled from the Lebanese border to the Syrian border, the Egyptian border, Jordan to Israel and beyond.

‘The purpose of the trip was to get on the ground and see the implementation,’ Waltz said. ‘We met with the Jordanians, the king, the prime minister and president of Israel — we met with our troops.’ 

Waltz explained that there is a ‘small contingent’ of approximately 100 U.S. troops in Israel — not in Gaza — to help to pull together humanitarian aid and military coordination.

‘We have had air defense assets in Israel for quite some time to deal with attacks from Iran,’ Waltz said. ‘This is now a small headquarters element to provide a coordination — no one was talking to each other, and the U.S. military is doing what it does best.’

Waltz said the U.S. troops in Israel are working with the United Nations, non-governmental organizations, the Israelis, Egyptians and Arab countries, while having contact with Palestinians and ensuring that humanitarian aid is being delivered.

‘From an ‘America First’ standpoint, the United States shouldn’t be doing this alone,’ Waltz said. ‘Burden-sharing is a key component and dozens are helping under President Trump’s leadership.’

Waltz led the charge at the United Nations, implementing the now-adopted resolution that endorses the Board of Peace, sets parameters for Gaza’s transitional governance and launches the International Stabilization Force outlined in Trump’s 20-point Gaza peace plan.

Trump’s plan to end the Gaza conflict calls for Gaza to be a de-radicalized, terror-free zone that does not pose a threat to its neighbors. It also calls for Gaza to be redeveloped for the benefit of the people of Gaza and more.

Under the peace plan, Israeli forces would withdraw from the region, and a temporary transitional governance of a technocratic, apolitical Palestinian committee, responsible for delivering the day-to-day running of public services and municipalities for the people of Gaza will be created.

That government will be under the oversight of a new international transitional body called the Board of Peace, chaired by Trump and other members and heads of state.

The resolution makes the plan international law.

‘At the end of the day, Hamas has to go,’ Walz explained. ‘What we cannot let happen is Hamas survives, and the international community pours billions of dollars into the situation — Hamas attacks Israel again, as they previously pledged to do, and Israel responds, and we are in the same situation — we cannot let that happen again. That’s why we are doing things differently this time.’

Waltz pointed to the Board of Peace led by Trump, as well as the newly formed stabilization force, with troops from countries like Indonesia and Azerbaijan — as well as the technocratic committee responsible for turning government services back on.

‘This has never been done before,’ Waltz said. ‘My job was to get the United Nations and the international community to bless that, and we did.’ 

‘The bottom line is this: this was not a big symbolic thing or deal for the president,’ Waltz continued. ‘He is serious about bringing Middle East peace once and for all.’ 

Waltz explained that the ‘next strategic step will be an extension of the Abraham Accords,’ which he described as the president’s ‘true objective.’

Waltz explained that the implementation of the peace deal ‘unlocks the next round of the Abraham Accords.’

‘There are a number of great conversations ongoing,’ he said.

‘We have to remember where we were a year ago, and see everything in perspective,’ he explained. ‘You had Iran marching towards a nuke; Hezbollah launching rockets on Israel; hostages in tunnels, and now you have hostages out; Lebanon has the best chance in a generation; and Iran had its nuclear capabilities obliterated in Operation Midnight Hammer—all in ten months.’

Waltz added: ‘It is truly incredible. It is night and day to where we were a year ago.’

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Transition Metals Corp. (TSXV: XTM) is a Canadian-based, multi-commodity explorer. Its award-winning team of geoscientists has extensive exploration experience which actively develops and tests new ideas for discovering mineralization in places that others have not looked, often allowing the company to acquire properties inexpensively. Joint venture partners earn an interest in the projects by funding a portion of higher-risk drilling and exploration, allowing Transition to conserve capital and minimize shareholder’s equity dilution.

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Contango ORE (NYSE:CTGO) and Dolly Varden Silver Corporation (TSXV:DV) have agreed to merge in an all-stock deal that would create a new mid-tier North American precious-metals company, uniting producing and high-grade development assets in Alaska and British Columbia.

Shareholders of each firm will own roughly 50 percent of the new entity, which is expected to be renamed Contango Silver & Gold and listed on the NYSE American. A separate listing application is planned for the Toronto Stock Exchange.

The combined company, informally referred to as “MergeCo,” will be anchored by the cash-flowing Manh Choh gold mine in Alaska and a slate of high-grade silver and gold projects in the Golden Triangle and south-central Alaska.

Clynt Nauman will lead the board as its Chairman, Rick Van Nieuwenhuyse serving as CEO, Shawn Khunkhun as president, and Mike Clark as executive vice president and CFO.

Van Nieuwenhuyse said the combination is designed to take advantage of an unusually strong pricing environment for precious metals.

“This merger is an exciting transaction for both Contango and Dolly Varden shareholders given the complementary and synergistic nature of our North American asset portfolios,” he said. He highlighted that Manh Choh’s cash flow provides “a source of non-dilutive funding to advance development” of Lucky Shot, Johnson Tract and Kitsault Valley.

Meanwhile, Khunkhun added that the combined platform would be Canada and US-centric and will position the company for aggressive exploration and potential acquisitions.

For the new company, higher silver prices enhance the attractiveness of the Kitsault Valley project in British Columbia, where Dolly Varden recently completed more than 56,000 meters of drilling.

Early results included 1,422 grams per metric ton silver over 21.70 meters at the Wolf Vein and high-grade gold intercepts at Homestake Silver. Historic production from the district exceeds 20 million ounces.

In Alaska, Contango brings three advanced projects. Manh Choh, operated by Kinross Gold (TSX:K,NYSE:KGC,OTC:KGCRF), produced 173,400 ounces of gold in the first nine months of 2025, generating US$87 million in distributions to Contango.

The Lucky Shot project, permitted and undergoing a major drill program, is targeting a multi-hundred-thousand-ounce resource.

Johnson Tract, a gold-silver-zinc project recently accepted for FAST-41 federal permitting, carries an Initial Assessment outlining a US$615 million NPV at US$4,000 gold.

The timing is notable as silver has climbed to its highest price on record. The metal broke its previous all-time high in October and repeatedly tested resistance through the fall before decisively surpassing US$54 on November 28.

Silver later surged again following the US Federal Reserve’s December rate cut, with its latest record of US$64.31 set on December 11.

Analysts attribute the rally partially to shifting macro conditions, including renewed expectations of quantitative easing after the Fed signaled it would begin buying short-term Treasuries.

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

This post appeared first on investingnews.com

Republican John Nagel, who is running against Dem. Rep. Ilhan Omar in her Minneapolis district, spoke to Fox News Digital about the responsibility she holds in the unfolding massive fraud scandal that has garnered national headlines.

‘Where did this actually start?’ Nagel told Fox News Digital. ‘She passed legislation. Her legislation actually started and it allowed people to get into Feeding Our Future. If you look at where the fraud is, it’s primarily her [5th Congressional District], the district that I’m running in against her. And it’s really odd to think that you know all the fraud just happened in a particular area, and it was a bill that she, you know, particularly put together.’

Nagel is referring to allegations that the free meals at the center of the massive fraud scandal were made possible by the 2020 MEALS Act, introduced by Omar and passed with bipartisan support. He told Fox News Digital the public deserves to know who helped her craft that legislation.

Members of Omar’s inner circle personally profited from the $1 billion welfare fraud scandal in her district that has placed her Somali constituency under a White House microscope, Nagel said. He also said that Omar held events at one of the restaurants, Safari Land, which was named in the fraud case, knew one of its now-convicted owners and had a staffer who was also convicted.

‘If you look at the Safari Land restaurant, if you’re gonna be in politics, you need to go through the people at the Safari Land restaurant,’ Nagel said. ‘They kind of control the politics. She had all of her fundraising things. I mean, that was sort of her hangout. That’s where she spent money, got donations.’

Guhaad Hashi Said, sometimes referred to as an ‘enforcer’ for Omar’s campaign, is one of the over 70 people who have been indicted for his role in the Feeding Our Future scandal. Nagel told Fox News Digital the public deserves answers on that relationship and what Omar knew about the fraud.

‘There’s a lot of really deep, deep ties,’ Nagel said.

‘I think time will tell with the investigation. But again, there’s just too much circumstantial evidence to look at this and say, she had to have known something, or what staff member knew something?’

The Small Business Administration is investigating a network of Somali groups in Minnesota that it says is tied to the scandal, and a House Oversight Committee has opened an investigation into Minnesota Gov. Tim Walz’s role.

President Donald Trump last week criticized Omar and blamed the Somali community for the scope of fraud occurring in Minnesota. 

Nagel also asserted that there was a money trail potentially funneled to Omar from her associates tied to the Feeding Our Future fraud scandal, and he said that she has returned some of the money but not all of it.

‘A whole lot of people that were convicted donated a whole lot of money. Omar says that she gave the money back,’ Nagel said. ‘Well, if you go into public records, she gave some money back, but there’s a whole lot more money there that she didn’t report. And I think if people were just to go through the everyday records that are out there, you’ll find out that her involvement in the money that she has is questionable.’

Nagel told Fox News Digital, ‘If she truly cared about the fraud, her name wouldn’t be attached all over to these other people. She came on and she made a statement about how terrible it is to basically steal food from children. Yeah, okay, that’s a really nice thing to say, but you have way too many people that you’re associated with that actually did that. Now she yells racism anytime somebody puts any pressure on her.’

Fox News Digital asked Nagel what can be done to fix the fraud issues. He said, first and foremost, Minnesota must elect a new governor.

‘The things that we can do to fix this is you get yourself a new competent, honest governor, you get yourself a new honest, competent AG,’ Nagel said. ‘We get rid of Ilhan Omar, and we put people in the state of Minnesota that actually want to do the right thing. They’re not in it for the money, they’re in it because they’re great state employees and they’re serving the public. That’s what we’re gonna have to do. You’re gonna have to entirely root the Democratic Party, and then anybody that’s been appointed to a position, we’re gonna have to root them out too, to find out if you know they’ve been letting things slide.’

Nagel described the fraud situation in Minnesota as a ‘cancer’ that will continue to ‘spread’ unless ‘you cut the entire cancer out.’

Fox News Digital reached out to Omar’s office for comment. 

‘I think what happened is that, you know, when you have these kind of new programs that are, um, designed to help people, you’re oftentimes relying on third parties to be able to facilitate. And I just think that a lot of the COVID programs that were set up — they were set up so quickly that a lot of the guardrails did not get created,’ Omar said last week.

Fox News Digital’s Louis Casiano contributed to this report.

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There is still a desire to solve the looming healthcare cliff after dueling votes in the Senate on partisan Obamacare fixes crashed and burned Thursday, but both sides of the aisle are still miles from finding a middle ground.

The enhanced Obamacare subsidies are set to expire by the end of the year, and Congress is gearing up to leave Washington, D.C., at the end of next week until the new year. There are several options on the table, including numerous Senate Republican proposals or just moving ahead with a short-term extension of the subsidies.

But lawmakers have to land on what exactly they want to do, and what could pass the 60-vote filibuster threshold, first.

‘I think the question is, ‘Do the Democrats, after they got their messaging vote done, actually want to engage in a real conversation about this?’’ Senate Majority Leader John Thune, R-S.D., said. ‘Because it didn’t seem like they had a real high level of interest in reforms, but there are some who do. I don’t know if there are enough, but I think we’re going to get a sense of that here very soon.’

Thune echoed what many Republicans in the upper chamber believed: Senate Democrats’ three-year extension of the subsidies was never meant to succeed, but only served as a political messaging exercise.

Still, four Senate Republicans crossed the aisle to vote for Democrats’ plan. Sen. Lisa Murkowski, R-Alaska, argued that she voted for both proposals not because both were exactly what she wanted, but because she wanted to get the ball rolling toward a solution.

‘Sometimes around the Senate, we have to demonstrate what we can’t do first before we can get to what we need to do,’ she said. ‘Today was the first step in that process of demonstrating what we can’t do now. Let’s get on with it and fix it.’

Conversely, the GOP’s first attempt wasn’t going to pass muster with Senate Democrats, either. Some in the upper chamber are mulling a short-term extension to the subsidies, be it six months to a year, but that idea doesn’t tackle the several reforms Senate Republicans have demanded for their support.

‘Discussions will continue,’ Senate Majority Whip John Barrasso, R-Wyo., told Fox News Digital. ‘Both parties are going to find a solution to actually lower the cost of care and put patients in charge and get rid of the waste and the fraud and the abuse and the corruption that has run rampant in Obamacare.’

Whatever happens next will likely be the product of rank-and-file negotiations, not top-level decisions between Thune and Senate Minority Leader Chuck Schumer, D-N.Y.

But there is a growing sense that President Donald Trump should get more involved and dictate exactly what he wants to be done. Trump previously signaled that he wants to move ahead with health savings accounts (HSAs) but in recent weeks has largely stayed an arms’ length away from the Obamacare turmoil in the Senate.

When asked how lawmakers get out of the healthcare jam, Sen. Chris Murphy, D-Conn., told Fox News Digital, ‘We don’t.’

‘Not until Donald Trump decides we get out of it,’ Murphy said. ‘He’s the President of the United States, his party controls the House and the Senate, so the only way we save people from healthcare disasters for Donald Trump, the leader of the Republican Party, is to decide to fix this.’

Republicans still have several options on the table, including a plan from Sen. Roger Marshall, R-Kan., that marries an extension of the subsidies with HSAs and reforms, and a plan from Sens. Susan Collins, R-Maine, and Bernie Moreno, R-Ohio, that would extend the credits for two years, among others.

There’s also the possibility that the healthcare fight continues on into the next year and goes through the partisan budget reconciliation process, which Republicans used earlier this year to ram through Trump’s agenda.

While that’s an option, many in the upper chamber acknowledge that the best way forward is working with the other side of the aisle.

‘I would rather do it on a bipartisan basis, because that’s the way that Congress is supposed to work,’ Sen. Bill Cassidy, R-La., told Fox News Digital. ‘But if Democrats are intent upon sticking people with either higher premiums and/or $6,000 deductible, we got to do something. So it’s not good for the American people.’

While there are lawmakers who hope the failed votes were the springboard forward, and not a dead end, toward tackling the Obamacare issue, Schumer signaled that it was Republicans’ fault that the subsidies would likely expire.

‘This is their crisis now, and they’re going to have to answer for it,’ he said.

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Homerun Resources Inc. (TSXV: HMR,OTC:HMRFF) (OTCQB: HMRFF) (‘Homerun’ or the ‘Company’) is pleased to announce that, further to its July 24, 2025, September 22, 2025 and October 6, 2025 news releases the Company has filed documents with the TSX Venture Exchange (the ‘Exchange’) seeking final approval of its $1.00 unit (‘Unit’) private placement financing (the ‘Financing’), for total aggregate gross proceeds of $3,128,384.

Further, the Company has closed a second and final tranche of the Financing for aggregate gross proceeds of $1,560,384 and will issue 1,560,384 Units, for a total of 3,128,384 Units issued in the first and second tranches, each Unit consisting of one common share of the Company and one common share purchase warrant (the ‘Warrants’), the warrants being exercisable for an additional common share of the Company at an exercise price of CA$1.30 for 24 months. The Warrants will be subject to the right of the Company to accelerate the exercise period of the warrants if shares of the company close at or above CA$2 for a period of 10 consecutive trading days.

Proceeds from the financing will be used for project payments, continuing development of the Company’s projects and general working capital. In connection with the Financing and on receipt of Exchange approval, the Company will pay cash finder’s fees of $31,150 and issue 31,150 Non-Transferable Broker Warrants. All securities issued pursuant to the Financing are subject to a four-month and one-day hold period.

About Homerun (www.homerunresources.com / www.homerunenergy.com)

Homerun is building the silica-powered backbone of the energy transition across four focused verticals: Silica, Solar, Energy Storage, and Energy Solutions. Anchored by a unique high-purity low-iron silica resource in Bahia, Brazil, Homerun transforms raw silica into essential products and technologies that accelerate clean power adoption and deliver durable shareholder value.

  • ⁠Silica: Secure supply and processing of high-purity low-iron silica for mission-critical applications, enabling premium solar glass and advanced energy materials.
  • Solar: Development of Latin America’s first dedicated 1,000 tonne per day high-efficiency solar glass plant and the commercialization of antimony-free solar glass designed for next-generation photovoltaic performance.
  • Energy Storage: Advancement of long-duration, silica-based thermal storage systems and related technologies to decarbonize industrial heat and unlock grid flexibility.
  • ⁠Energy Solutions: AI-enabled energy management, control systems, and turnkey electrification solutions that reduce costs and optimize renewable generation for commercial and industrial customers.

With disciplined execution, strategic partnerships, and an unwavering commitment to best-in-class ESG practices, Homerun is focused on converting milestones into markets-creating a scalable, vertically integrated platform for clean energy manufacturing in the Americas.

On behalf of the Board of Directors of
Homerun Resources Inc.

‘Brian Leeners’

Brian Leeners, CEO & Director
brianleeners@gmail.com / +1 604-862-4184 (WhatsApp)

Tyler Muir, Investor Relations
info@homerunresources.com / +1 306-690-8886 (WhatsApp)

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains ‘forward-looking statements’ within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be ‘forward-looking statements’.

Neither the 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.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277839

News Provided by Newsfile via QuoteMedia

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Japan’s largest copper smelter has secured a rare reprieve in one of the tightest processing-fee environments the industry has ever seen.

According to media reports Pan Pacific Copper has agreed with Lundin Mining (TSX:LUN,OTC:LUNMF) to roll over treatment and refining charges for 2026 rather than cut them further.

People familiar with the deal said the commercial terms will remain broadly unchanged from this year, preserving a fee structure that has already fallen to historic lows.

TC/RCs, which are the fees miners pay smelters to process copper concentrate, usually move in tandem with global supply trends.

But the collapse this year has been so severe that spot charges have turned decisively negative. Many smelters warn the industry is near breaking point, especially in Asia, where Chinese refiners have built capacity far ahead of available concentrate.

The Lundin–PPC rollover diverges from the wide expectation that fees will fall further next year.

It follows a warning in October from Freeport-McMoRan (NYSE:FCX)) that it plans to abandon the traditional benchmark-setting system to help keep smelters afloat.

The arrangement also suggests miners with long-term industrial ties to Japan are willing to make commercial concessions to avoid further financial stress on their customers.

A spokesperson for Lundin declined to comment on the deal. PPC said it could not address the details of individual contracts.

For decades, annual copper contracts have been anchored by the first major deal of the year, often involving Chinese smelters since the 2010s.

But the system has become strained as the benchmark collapses and Chinese refiners resist setting a price that could turn negative. This year’s benchmark was set at a record low of US$21.25 a ton and 2.125 cents a pound.

The dynamics are particularly complex for Japanese smelters. PPC’s parent, JX Advanced Metals (OTC Pink:JXAMY,TSE:5016), holds a 30 percent stake in Lundin’s Caserones mine in Chile, giving both sides a long-term interest in keeping operations stable.

Last month, PPC announced a plan to merge its purchasing and sales functions with Mitsubishi Materials, a move aimed at strengthening Japan’s collective buying power in a challenging market.

The pressures are most acute in China, where this year’s negative TC/RCs have prompted emergency supply-side intervention.

The China Smelters Purchase Team, representing the country’s largest refiners, recently agreed to cut output by more than 10 percent next year to counter what it called “malignant competition.”

According to Shanghai Metals Market, the CSPT also established new oversight mechanisms to police procurement practices and blacklist suppliers deemed disruptive.

With Chinese smelters at an impasse over the 2026 benchmark, the industry enters the new year without clarity on where the market will settle.

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

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