Stefan Gleason, CEO of Money Metals, shares his outlook for gold, silver and platinum.
He also weighs in on Tether Investments’ recent deal with Elemental Altus Royalties (TSXV:ELE,OTCQX:ELEMF) and advances in US sound money policies.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Combining near-term discovery and development strategy, Alice Queen is positioned to unlock significant shareholder value through its high-impact gold projects in Fiji and Australia. Supported by strategic investors, it offers a rare blend of near-term exploration upside and longer-term development potential.
Alice Queen (ASX:AQX) is a gold exploration company targeting district-scale discoveries and near-term production opportunities. The company’s flagship project is the Viani gold project in Fiji, where early drilling results point to a major epithermal gold system similar to other epithermal gold systems hosted on the Pacific Ring of Fire with Fiji also hosting the 10 Moz Vatukoula gold mine. With a portfolio spanning the Pacific Ring of Fire and Australia’s most prolific gold belts, Alice Queen combines geological potential with strategic capital access.
The company’s secondary asset, Horn Island, contains over half a million ounces of gold in a JORC-compliant resource. A previously released scoping study (2021) for Horn Island indicates an NPV of over AU$500 million, after an internal update on the numbers at AU$5,000/oz gold. Discussions with development partners are underway to unlock value from this asset, which could produce more than AU$800 million in free cash flow over a projected eight-year mine life.
Alice Queen’s shareholder registry is anchored by Gage Resource Development (51 percent) and includes significant long-term, and well-funded Australian investors. The company is pursuing a balanced strategy of value creation through drilling success, strategic partnerships and asset-level monetization.
The Viani gold project, located on Vanua Levu, Fiji’s second-largest island, is emerging as Alice Queen’s flagship exploration asset, with strong early indications of a large-scale, high-grade, low-sulphidation epithermal gold system. The project covers more than 200 sq km of underexplored ground within Fiji that hosts the Vatukoula gold mine, a +10 Moz deposit located on Fiji’s main island, Viti Levu. Viani’s main prospect, Dakuniba, has been the focus of extensive historical and current surface work, including trenching, rock chip sampling and limited historical drilling, which have collectively defined a mineralized corridor extending over ~5 km in strike length. Assay results from the maiden program have confirmed depth potential of high-grade gold to 175 m.
Gold mineralization is hosted in banded quartz veins and quartz-adularia stockworks associated with strong argillic and silicic alteration, indicative of a classic low-sulphidation system. Alice Queen has conducted detailed geochemical sampling and geophysical interpretation to delineate drill targets, with Phase 1 diamond drilling that commenced in December 2024. The current program comprises an initial three-hole diamond campaign (approximately 1,000 metres), targeting depth extensions of the mapped surface mineralization. The first hole, 24VDD001, intercepted zones of epithermal-style veining, with visible alteration and sulphide mineralization. The geophysical signature of the host rocks reveals zones of magnetite destruction associated with alteration, providing a critical exploration vector for further target generation. Over a dozen discrete structural targets have been identified within the broader 7 km hydrothermal corridor.
The company is exploring follow-up drilling and potential geophysical (ground mag) surveys as a way to identify where the structures that host the mineralisation broaden or dilate to refine these targets. The scale, alteration style and structural setting of the Viani system suggest the potential for a significant gold discovery, with parallels to other globally productive vein-hosted systems in the Pacific Rim.
Horn Island, located in the Torres Strait approximately 17 km off the northern coast of Queensland, is a development-stage project with an existing JORC 2012-compliant mineral resource estimate of 16.7 Mt at 0.98 g/t gold for 524,000 ounces of contained gold in the indicated and inferred categories. The project is classified as an intrusion-related gold system, characterized by sheeted vein systems, broad hydrothermal alteration, and disseminated gold mineralization associated with late-stage felsic intrusives.
The resource is centered on a historical open-pit gold mine and remains open to the northwest, with several additional prospects—including the Southern Silicified Ridge—identified within the project area. The mineralized zone is hosted in altered andesitic volcanics and quartz-feldspar porphyry intrusives, with gold associated with pyrite, arsenopyrite, and quartz-carbonate veining.
The project has full community backing, including a 7.5 percent free-carried interest held by the local Kaurareg Aboriginal People. It benefits from excellent infrastructure, including daily commercial flights, ferry access to nearby Thursday Island, and shipping links to Cairns and Weipa.
Alice Queen is currently engaged with several interested parties in partnership discussions about Horn Island via Argonaut PCF. The company is optimistic that a partnership deal can unlock significant shareholder value and reduce dilution.
The Sabeto Project is located within the Sabeto Valley on Fiji’s main island, Viti Levu, and sits within a 15 km east-west trending structural corridor that hosts both epithermal and porphyry-style mineralization. The project is situated between the historic Vuda gold prospect and Lion One’s (ASX:LLO) operating Tuvatu gold mine, which is hosted within the Nawainiu Intrusive Complex —the same intrusive suite that underlies the Sabeto project area. Sabeto is interpreted to host a sub-volcanic porphyry copper-gold breccia system, with historic drilling confirming broad zones of alteration and anomalous copper and gold values coincident with a ‘bullseye’ ZTEM resistivity high anomaly. This geophysical feature is interpreted as representing a buried intrusive centre, possibly related to porphyry-style mineralization.
The upcoming drill program at Sabeto is designed to test three priority targets, all defined by surface geochemistry, geophysical signatures and diatreme-style breccias. Proposed diamond hole A will test west of previous holes SBDD0001 and SBDD0004, targeting potential lateral continuity of the mineralized intrusive. Hole B aims to drill beneath an outcropping diatreme breccia with gold-copper anomalies, and under a significant gold soil anomaly 300 meters northwest of hole SBDD0003. Hole C will test the southern extent of a copper-anomalous diatreme breccia zone identified in mapping. The planned 1,800-meter program is expected to begin, following completion of the Viani Phase 1 campaign and will further test the scale and fertility of the porphyry system at Sabeto.
Located in the heart of the Lachlan Fold Belt (LFB), one of Australia’s most fertile porphyry terranes, Alice Queen’s Boda East and Mendooran projects are early-stage copper-gold exploration assets. Boda East lies immediately adjacent to Alkane Resources’ (ASX:ALK) Boda and Kaiser deposits, which host large-scale porphyry-style copper-gold mineralization. Geological mapping and drilling at Boda East have confirmed the presence of porphyritic intrusives, hydrothermal breccias and disseminated sulphide mineralization, consistent with porphyry-related alteration. Eleven holes have been drilled to date, with several intersecting pathfinder elements and anomalous copper-gold grades. Further drilling is planned to vector toward the core of the system.
The Mendooran project, situated further south in the LFB, targets large porphyry copper-gold systems associated with the Molong Volcanic Belt. Historic drilling and surface sampling have identified alteration halos and geochemical anomalies typical of porphyry environments. These projects provide optionality and long-term upside exposure to bulk-tonnage copper-gold mineralization and may be attractive candidates for joint venture or strategic partnerships with larger players active in the region.
Chairman of Beijing Gage Capital Management, Jianying Wang oversees US$1.6 billion in assets and brings extensive experience in global M&A and equity investment. He has supported Alice Queen through multiple funding rounds.
Andrew Buxton is the founder of Alice Queen and former managing director of Kidman Resources, He brings over 25 years of experience in capital markets and resource company management, and leads the company’s exploration and development strategy.
A co-founder of Alice Queen, Dale McCabe has managed operational rollouts and exploration execution since 2015. For more than two decades, he worked in the IT sector and brings broad project coordination experience.
Currently managing director of ASX-listed AuKing Limited (ASX:AKN), Paul Williams is an experienced mining and resources executive with over 30 years of experience across multiple commodities and multiple jurisdictions.
A judge on Thursday found that Alina Habba was unlawfully serving in the role of acting U.S. attorney of New Jersey after President Donald Trump sidestepped typical processes to keep her in charge.
Judge Matthew Brann said Habba has not been the rightful temporary U.S. attorney for New Jersey since July 1, a ruling that follows two criminal defendants in New Jersey challenging her appointment in court, alleging it was unconstitutional.
‘Faced with the question of whether Ms. Habba is lawfully performing the functions and duties of the office of the United States Attorney for the District of New Jersey, I conclude that she is not,’ Brann wrote in a 77-page order.
Habba, Trump’s former personal defense lawyer, had been serving as interim U.S. attorney, but when her term expired last month, Trump and Attorney General Pam Bondi used loopholes in federal vacancy laws to install her as ‘acting’ rather than ‘interim’ U.S. attorney.
One of the defendants in the district, Julien Giraud, alleged that the moves violated his constitutional rights because of the string of unconventional actions it took to attempt to keep Habba in the role.
Brann, an Obama appointee serving in the Middle District of Pennsylvania, agreed and found Habba could not prosecute Giraud or another defendant who challenged Habba’s position.
Brann is presiding over the matter after the chief judge of the Third Circuit Court of Appeals, which covers New Jersey and Pennsylvania, decided the case presented too much of a conflict for New Jersey’s federal judges.
The New Jersey judges made the rare decision to decline to extend Habba’s term and instead appointed career attorney Desiree Grace to the job. Trump and Bondi fired Grace, withdrew Habba’s nomination as permanent U.S. attorney and then reinstated Habba as acting U.S. attorney, which they said kept Habba in charge for at least another 210 days under federal statute.
Fox News Digital reached out to a spokeswoman for Habba for comment.
This is a developing story. Check back for updates.
President Donald Trump on Tuesday (August 19) blasted a federal appeals court for halting a land transfer crucial to the development of the Resolution Copper mine in Arizona.
The San Francisco-based 9th US Circuit Court of Appeals issued the ruling on Monday (August 18) which temporarily blocked federal officials from transferring land to Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO,OTC:RTPPF) and BHP (ASX:BHP,NYSE:BHP,LSE:BHP,OTC:BHPLF).
The judges said the pause was needed while they weigh arguments from the San Carlos Apache Tribe, which contends the project threatens sacred religious and cultural sites.
Trump, who just a day earlier hosted executives from Rio Tinto and BHP at the White House, lashed out on social media.
“It is so sad that Radical Left Activists can do this, and affect the lives of so many people,” the president wrote on Truth Social. Calling the 9th Circuit a “radical left court,” he said opponents of the mine were “Anti-American, and representing other copper competitive Countries.”
“Our Country, quite simply, needs Copper — AND NOW!” Trump added.
Rio Tinto CEO Jakob Stausholm confirmed in a LinkedIn post that he, Rio’s incoming head of copper operations Simon Trott, and BHP CEO Mike Henry met with Trump and Interior Secretary Doug Burgum to emphasize the company’s role in delivering US copper and other minerals.
“Today, I visited the White House with Simon Trott to meet with US President Donald Trump, Secretary of the Interior Doug Burgum, and other officials to discuss Rio Tinto’s crucial role in delivering American copper and other critical minerals,” Stausholm wrote.
Stausholm highlighted the company’s 150-year history in the US and cited a portfolio that stretches from copper and lithium to recycled aluminum and borates. He pointed in particular to Resolution Copper, a joint venture with BHP that could become one of the world’s largest copper mines if approved.
“Resolution Copper has the potential to become one of America’s biggest copper mines, contributing US$1 billion annually to Arizona’s economy and creating thousands of local jobs in a region where mining has played an important role for more than a century,’ reads the Resolution Copper statement.
Despite this, the project has been mired in controversy for more than a decade. Tucked beneath Arizona’s Tonto National Forest, the ore body is considered among the largest untapped copper deposits in the world.
Its backers argue it could supply more than a quarter of US demand for copper, a material used in everything from power grids and electric vehicles to smartphones and fighter jets.
Congress approved the land transfer in 2014 by attaching it to a must-pass defense spending bill, requiring that an environmental review be completed before the deal was finalized.
The underground mine’s construction would then ultimately create a massive crater, encroaching upon a site where Apache groups hold religious ceremonies.
Opponents, led by the San Carlos Apache, have fought the project in court for years, with limited success until the CA’s Monday ruling.
Terry Rambler, chairman of the tribe, welcomed the appeals court’s decision. He noted that Rio Tinto and BHP are headquartered in Australia, and Rio’s largest shareholder is a Chinese aluminum company.
“I look forward to sitting down with the administration and providing factual information that will help protect American assets,” Rambler said in a Reuters report, adding that he believes the copper from the Resolution project will be exported to China.
However, Rio insists that all of Resolution’s copper would stay within the country if the mine is approved. The company operates one of just two active copper smelters in the country at its Kennecott site in Utah.
At Kennecott, Rio Tinto produces about 20 percent of the country’s refined copper each year. The company has also recently expanded into lithium processing with the acquisition of a facility in North Carolina — the only active producer of lithium metal in the Western Hemisphere.
“Copper is essential to modernizing the nation’s infrastructure, supporting domestic manufacturing and securing America’s global competitiveness,” the company said in a recent report where it also cited its investments in both traditional mines and new, lower-impact extraction technologies.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Walmart on Thursday raised its full-year earnings and sales outlook as its online business posted another quarter of double-digit gains, even as the company said costs are rising from higher tariffs.
The big-box retailer topped Wall Street’s quarterly sales estimates but fell short of earnings expectations, the first time it missed on quarterly earnings since May 2022. The company said it felt pressure on profits for the period, including from some one-time expenses, such as restructuring costs, pricier insurance claims and litigation settlements.
Walmart said it now expects net sales to grow 3.75% to 4.75% for the fiscal year, up from its previous expectations of 3% to 4%. It raised its adjusted earnings per share outlook slightly to $2.52 to $2.62, up from a prior range of $2.50 to $2.60 per share.
In an interview with CNBC, Chief Financial Officer John David Rainey said the company is working hard to keep prices low — including speeding up imports from overseas and stepping up the number of Rollbacks, or limited-time discounts, in its stores.
“This is managed on an item-by-item and category-by-category basis,” he said. “There are certainly areas where we have fully absorbed the impact of higher tariff costs. There are other areas where we’ve had to pass some of those costs along.”
But he added “tariff-impacted costs are continuing to drift upwards.”
Even so, Rainey said Walmart hasn’t seen a change in customer spending. For example, sales of private label items, which typically cost less than national brands, were roughly flat year over year, he said.
“Everyone is looking to see if there are any creaks in the armor or anything that’s happening with the consumer, but it’s been very consistent,” he said. “They continue to be very resilient.”
Yet on the company’s earnings call, CEO Doug McMillon said middle- and lower-income households have been more sensitive to tariff-related price increases, particularly in discretionary categories.
“We see a corresponding moderation in units at the item level as customers switch to other items, or in some cases, categories,” he said.
Here’s what the big-box reported for the fiscal second quarter compared with what Wall Street expected, according to a survey of analysts by LSEG:
Walmart shares fell about 2% in premarket trading Thursday.
Walmart’s net income jumped to $7.03 billion, or 88 cents per share, in the three-month period that ended July 31, compared with $4.50 billion, or 56 cents per share, in the year-ago quarter.
Revenue rose from $169.34 billion in the year-ago quarter.
Comparable sales for Walmart U.S. climbed 4.6% in the second quarter, excluding fuel, compared with the year-ago period, as both the grocery and health and wellness category saw strong growth. That was higher than the 4% increase that analysts expected. The industry metric, also called same-store sales, includes sales from stores and clubs open for at least a year.
At Sam’s Club, comparable sales jumped 5.9% excluding fuel, higher than the 5.2% that analysts anticipated.
E-commerce sales jumped 25% globally and 26% in the U.S., as both online purchases and advertising grew. In the U.S., Walmart said sales through store-fulfilled delivery of groceries and other items grew nearly 50% year over year, with one-third of those orders expedited. The company charges a fee for some of those faster deliveries, and others are included as a benefit of its subscription-based membership program, Walmart+.
Its global advertising business grew 46% year over year, including Vizio, the smart TV maker it acquired for $2.3 billion last year. Its U.S. advertising business, Walmart Connect, grew by 31%.
As Walmart’s online business drums up more revenue from home deliveries, advertising and commissions from sellers on its third-party marketplace, e-commerce has become a profitable business. The company marked a milestone in May — posting its first profitable quarter for its e-commerce business in the U.S. and globally.
Rainey said on Thursday that Walmart doubled its e-commerce profitability in the fiscal second quarter from the prior quarter.
In the U.S., shoppers both visited Walmart more and spent more on those trips during the quarter. Customer transactions rose 1.5% year over year and average ticket increased 3.1% for Walmart’s U.S. business.
As the largest U.S. retailer, Walmart offers a unique window into the financial health of American households. As higher duties have come in fits and starts — with some getting delayed and others going into effect earlier this month — Wall Street has tried to understand how those costs will ripple through the U.S. economy.
Walmart warned in May that it would have to raise some prices due to higher levies on imports, even with its size and scale. The company’s comments drew the ire of President Donald Trump, who said in a social media post that Walmart should “EAT THE TARIFFS.”
About a third of what Walmart sells in the U.S. comes from other parts of the world, with China, Mexico, Canada, Vietnam and India representing its largest markets for imports, Rainey said in May.
According to an analysis by CNBC of about 50 items sold by the retailer, some of those price changes have already hit shelves. Items that rose in price at Walmart over the summer included a frying pan, a pair of jeans and a car seat.
Rainey on Thursday declined to specify items or categories where Walmart had increased prices, saying the company is “trying to keep prices as low as we can.”
He said one of the company’s strategies has been bringing in inventory early, particularly for Sam’s Club as it gets ready for the second half of the fiscal year and its crucial holiday season. At the end of the quarter, inventory was up about 3.5% at Sam’s Club, Rainey said. It was up 2.2% for Walmart U.S.
On the company’s earnings call, McMillon said the impact of tariffs has been “gradual enough that any behavioral adjustments by the customer have been somewhat muted.”
“But as we replenish inventory at post-tariff price levels, we’ve continued to see our costs increase each week, which we expect will continue into the third and fourth quarters,” he said.
Yet even with higher costs from tariffs, Walmart has fared better than its retail competitors as it has leaned into its reputation for value, competed on faster deliveries to customers’ homes and attracted more business from higher-income households.
The Arkansas-based retailer’s performance has diverged sharply from rival Target, which posted another quarter of sales declines on Wednesday and named the new CEO who will be tasked with trying to turn around the company.
Walmart has gained from Target’s struggles. It has followed the Target playbook by launching more exclusive and trend-driven brands, including grocery brand BetterGoods and activewear brand Love & Sports. It has also expanded its third-party marketplace to include prestige beauty brands and more.
Sales of general merchandise, items outside of the grocery department, were a bright spot for Walmart in the fiscal second quarter, Rainey said. That category struggled during peak inflation in recent years, as consumers spent less on discretionary items because of rising grocery bills.
Comparable sales for general merchandise rose by a low-single-digit percentage and accelerated throughout the quarter, Rainey told CNBC. He added clothing and fashion sales “really shined for us.”
West High Yield (W.H.Y.) Resources Ltd. (TSXV: WHY,OTC:WHYRF) (FSE: W0H) (the ‘Company’ or ‘West High Yield’) announces announces the exercise of certain stock options (the ‘Options’) and share purchase warrants (the ‘Warrants’) of the Company.
Options
Five holders of options (the ‘Optionholders‘) exercised an aggregate of 2,400,000 Options resulting in the issuance of 2,400,000 common shares of the Company (each, an ‘Option Share‘). The Options were exercisable at a price of CAD$0.12 per Option Share, resulting in gross proceeds to the Company in the amount of CAD$288,000.00 upon such exercise.
Warrants
One holder of Warrants (the ‘Warrantholder‘) exercised an aggregate of 100,000 Warrants resulting in the issuance of 100,000 common shares of the Company (each, a ‘Warrant Share‘). The specific Warrants held and exercised by the Warrantholder were exercisable at a price of CAD$0.30 per Warrant Share, resulting in gross proceeds to the Company in the amount of CAD$30,000.00 upon such exercise.
About West High Yield
West High Yield is a publicly traded junior mining exploration and development company focused on acquiring, exploring, and developing mineral resource properties in Canada. Its primary objective is to develop its Record Ridge critical mineral (magnesium, silica, and nickel) deposit using green processing techniques to minimize waste and CO2 emissions.
The Company’s Record Ridge critical mineral deposit located 10 kilometers southwest of Rossland, British Columbia has approximately 10.6 million tonnes of contained magnesium based on an independently produced National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101‘) Preliminary Economic Assessment technical report (titled ‘Revised NI 43-101 Technical Report Preliminary Economic Assessment Record Ridge Project, British Columbia, Canada’) prepared by SRK Consulting (Canada) Inc. on April 18, 2013 in accordance with NI 43-101 and which can be found on the Company’s profile at https://www.sedarplus.ca.
Contact Information:
West High Yield (W.H.Y.) RESOURCES LTD.
Frank Marasco Jr., President and Chief Executive Officer
Telephone: (403) 660-3488
Email: frank@whyresources.com
Barry Baim, Corporate Secretary
Telephone: (403) 829-2246
Email: barry@whyresources.com
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; and other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act‘) and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/263343
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NATO’s decision to increase defense spending is casting fresh attention on the strategic role of platinum group metals (PGMs), a suite of critical minerals essential to aerospace and military technologies.
The World Platinum Investment Council (WPIC), in its latest ’60 Seconds in Platinum’ briefing, noted that sustained growth in defense budgets could translate into higher demand for PGMs, which are already deeply embedded in critical defense and aerospace systems.
In the Hague Summit Declaration issued June 25, 2025, alliance leaders committed to raising defense expenditure to 5 percent of GDP annually by 2035, a significant step up from the longstanding 2 percent guideline.
The decision is designed to ensure “individual and collective obligations, in accordance with Article 3 of the Washington Treaty,” while addressing mounting geopolitical uncertainty.
‘Allies agree that this 5 percent commitment will comprise two essential categories of defence investment. Allies will allocate at least 3.5 percent of GDP annually based on the agreed definition of NATO defence expenditure by 2035 to resource core defence requirements, and to meet the NATO Capability Targets,’ the NATO statement reads.
Additionally, ‘Allies will account for up to 1.5 percent of GDP annually to inter alia protect our critical infrastructure, defend our networks, ensure our civil preparedness and resilience, unleash innovation, and strengthen our defense industrial base.’
PGMs, which include platinum, palladium, rhodium, iridium, and ruthenium, have a wide array of military uses thanks to their unique catalytic, conductive, and heat-resistant properties.
In the defense industry, they are commonly found in avionics and electronics, lasers and optical systems, and night-vision goggles.
Aircraft engines rely on platinum and rhodium for temperature sensing, while platinum is also used as a protective plating for turbine blades. In missile systems, platinum and iridium are incorporated into nose cones for their ability to withstand extreme heat.
Military vehicles also draw on platinum for catalytic converters and infrared suppression systems, which help reduce thermal visibility against heat-seeking weapons. Platinum catalysts are integral to advanced fuel reforming systems designed to power next-generation military units.
Other PGMs serve niche but indispensable roles. Ruthenium is applied in chip resistors, while palladium is key in military-grade capacitors. Reed switches, which are magnetic sensors used in high-risk or extreme environments, often depend on rhodium and iridium to ensure durability and safety.
One of the most promising growth areas highlighted by WPIC is the intersection of PGMs and hydrogen technologies in defense.
Proton exchange membrane (PEM) fuel cells, which rely on platinum catalysts, are being tested in land vehicles, naval applications, and unmanned aerial systems.
In South Korea, Hyundai Rotem, a defense subsidiary of Hyundai Motor (KRX:005380,OTC Pink:HYMTF), is developing what it calls the world’s first hydrogen fuel-cell powered military tank. Meanwhile, Ukraine’s Skyeton recently reported the successful test flight of a hydrogen fuel-cell powered unmanned aerial vehicle (UAV).
Hydrogen propulsion could be particularly transformative in the UAV sector, WPIC noted, since fuel-cell systems offer higher energy density and lighter weight compared to traditional batteries, enabling longer flight times and greater operational flexibility.
In the United States, the Department of Defense is studying a “micro hydrogen supply chain” for the Navy that would generate, store, and distribute hydrogen both at sea and onshore.
As governments integrate their defense strategies with climate and energy transitions, PGMs appear set to play an even larger role. Hydrogen fuel cell adoption in military applications could also further deepen this connection.
“Moves to boost defense and aerospace spending could be positive for platinum group metal demand,” WPIC noted, adding that NATO’s spending pledge and industry innovation highlight how PGMs are extensively used in defense and aerospace applications.
While PGMs are indispensable, they are just one part of a wider set of critical raw materials that underpin modern defense capabilities.
Rare earth elements (REEs), for instance, play a decisive role in the performance of advanced military platforms. According to data from Benchmark Mineral Intelligence, an F-35 Lightning II fighter jet requires around 418 kilograms (kg) of REEs, including neodymium and praseodymium in permanent magnets used for flight control and stealth systems.
Naval platforms demand even more: the Arleigh Burke-class destroyer uses about 2,600 kg of REEs, while the Virginia-class submarine requires roughly 4,600 kg, supporting propulsion, sonar, radar, and missile guidance systems.
The above examples illustrate both the massive material intensity of advanced military assets and the strategic vulnerabilities that come with dependence on external suppliers.
NATO has already flagged these risks. In December 2024, it published a list of 12 defense-critical raw materials essential to Allied security, including aluminium, cobalt, graphite, titanium, tungsten, lithium, and rare earth elements alongside platinum.
For the PGM sector, NATO’s spending pledge may prove to be a tailwind. Yet the bigger picture suggests that other similar resources will all form part of the same strategic equation of countries racing to secure the foundations of a stable supply chain.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
The latest addition to the pool of Democrats seeking to challenge Sen. Susan Collins, R-Maine, is doubling down on Zohran Mamdani-style socialism, says the chief of Maine’s Republican Party.
Democrat Graham Platner launched his campaign highlighting his history as an Army and Marine veteran as well as an oyster farmer, but state GOP chief Jason Savage told Fox News Digital that rural accolades aren’t policy positions. He pointed to Platner’s hiring of a top Mamdani adviser, Morris Katz, to produce his campaign launch video.
In that video, Platner rails against the ‘oligarchy’ and endorses universal healthcare. His website features messaging that claims the U.S. has a ‘billionaire economy,’ and that – if elected – Platner would view it as a key part of his job ‘to dismantle’ it.
‘Graham Platner is Maine’s Mamdani,’ Savage told Fox News Digital in an interview. ‘He brought in the Mamdani team to support his campaign. He’s out doing a lot of work with socialist groups.… He’s a Bernie bro.’
‘What we’re seeing here is the exporting of the Mamdani ideology to the state of Maine because they think that they can gain ground in a small state where things aren’t as expensive,’ he added.
‘You can look through Graham Platner’s donor history, and you can see that he donated to Harris for President, Bernie Sanders, Ilhan Omar,’ he continued, arguing that far-left candidates are a major threat to the Democratic Party.
Platner’s campaign did not immediately respond to a request for comment from Fox News Digital.
‘If common-sense Democrats, and then the leadership like [Sen.] Chuck Schumer don’t do something and say that isn’t the future of our party, then they’re gonna run in a bunch of these races. and we’re gonna beat them,’ he said.
Savage argued that the Democratic Party’s embracing of the far-left is a ‘double-edged sword.’ He said Democratic candidates can’t succeed without the ‘extreme wing’ of the party, and now ‘they’ve created a monster that they don’t have the ability to control.’
‘In the long run, it’s going to be catastrophic for them. I mean, Graham Platner advocates for allowing men to be in girls’ and women’s sports,’ Savage said. ‘He advocates for all sorts of policies that are very, very unpopular, and the Democrats can’t say anything to stop that.’
The Democratic challenger list against Collins is growing, and reports say those already in office are trying to tap Janet Mills, the state’s 77-year-old Democratic governor, for the seat.
Republicans currently control the majority of the Senate by a 53-47 margin. Democrats would need to flip four seats in the 2026 midterm elections to take the majority.
A spokesperson for Collins told Fox News Digital that Platner is ‘just another progressive entering the race.’
Fox News’ Pilar Arias contributed to this report
FPX Nickel Corp. (TSXV: FPX) (OTCQB: FPOCF) (‘ FPX ‘ or the ‘ Company ‘) is pleased to announce its participation in two leading sustainability initiatives in 2025, reinforcing our commitment to responsible mineral exploration and project development. These initiatives include the Company’s new membership in the Mining Association of Canada (‘ MAC ‘) and associated commitment with MAC’s Towards Sustainable Mining program for exploration-stage companies, and participation in the United Nations Global Compact.
‘FPX’s core values have long emphasized environmental stewardship, transparent engagement, and responsible resource development,’ commented Martin Turenne , FPX Nickel’s President and CEO. ‘Our participation with these leading associations provides further validation of our commitment to best practices in our ongoing efforts to advance the Baptiste Nickel Project in the right way, and deliver value for stakeholders, Indigenous communities, and future generations.’
Membership in the Mining Association of Canada
Earlier this year, FPX joined the Mining Association of Canada , a national organization recognized for its leadership in advancing sustainability in the mining sector. Through this membership, FPX has aligned itself with the Towards Sustainable Mining ( ‘TSM’ ) initiative, a globally respected standard that commits FPX to manage key environmental and social risks.
FPX commits to implementing the TSM protocols, that provide guidance on responsible environmental practices, community engagement, safety, and ethical conduct during project development. This alignment represents a significant milestone for the Company as it continues to progress the Baptiste Nickel Project through advanced exploration and the environmental assessment phases.
Commitment to the United Nations Global Compact
As part of its 2025 ESG initiatives, FPX has also committed to the United Nations Global Compact, the world’s largest voluntary corporate sustainability initiative. By becoming a participant, FPX commits to aligning its operations and strategies with the United Nations Global Compact Ten Principles, which cover the areas of human rights, labour, environment, and anti-corruption.
This commitment enhances the Company’s previous commitment to contribute to the achievement of the United Nations Sustainable Development Goals (‘ SDGs ‘) and to conduct business in a manner consistent with internationally recognized standards of responsible corporate citizenship.
A Continued Focus on Responsible Development
Together, these achievements reflect FPX’s ongoing leadership in the junior mining space and its proactive approach to embracing industry-leading standards, as demonstrated in our inaugural Sustainability Report, published in 2024. Going forward, the Company will continue to provide regular updates on its ESG performance and further initiatives as part of its commitment to transparency and continuous improvement.
About the Baptiste Nickel Project
The Company’s Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex. The absence of sulphur and our ability to connect to the BC Hydro grid means that Baptiste has the potential to be one of the lowest carbon-intensive nickel producers in the world and will produce a very high-grade product that does not require any intermediate smelting or complex refining. The Baptiste mineral claims cover an area of 453 km 2 west of Middle River and north of Trembleur Lake, in central British Columbia. In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit. Since 2010, approximately US$55 million has been spent on the exploration and development of Baptiste.
FPX has conducted mineral exploration activities to date subject to the conditions of agreements with First Nations and keyoh holders. In 2024, the Province of British Columbia identified the Baptiste Nickel Project as the first project to be included in the Province’s new Critical Minerals Office ( ‘CMO’ ) concierge service initiative, a provincial strategy action to enable the prioritization of critical minerals projects in B.C. The CMO initiative is providing an excellent structure to proactively identify and address issues and opportunities ahead of the Project’s entry into the environmental assessment process.
About FPX Nickel Corp.
FPX Nickel Corp. is focused on the exploration and development of the Baptiste Nickel Project, located in central British Columbia , and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization known as awaruite. For more information, please view the Company’s website at https://fpxnickel.com/
On behalf of FPX Nickel Corp.
‘Martin Turenne’
Martin Turenne , President, CEO and Director
Forward-Looking Statements
Certain of the statements made and information contained herein is considered ‘forward-looking information’ within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company’s periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE FPX Nickel Corp.
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NORTH KINGSTOWN, R.I. — The winged passenger ferry gliding over the surface of Narragansett Bay could be a new method of coastal transportation or a new kind of warship.
Its maker, Regent Craft, is betting on both.
Twelve quietly buzzing propellers line the 65-foot wingspan of Paladin, a sleek ship with an airplane’s nose. It looks nothing like the sailboats and fishing trawlers it speeds past through New England’s largest estuary.
“We had this vision five years ago for a seaglider — something that is as fast as an aircraft and as easy to drive as a boat,” said CEO Billy Thalheimer, jubilant after an hours-long test run of the new vessel.
On a cloudy August morning, Thalheimer sat in the Paladin’s cockpit and, for the first time, took control of his company’s prototype craft to test its hydrofoils. The electric-powered watercraft has three modes — float, foil and fly.
From the dock, it sets off like any motorized boat. Farther away from land, it rises up on hydrofoils — the same kind used by sailing ships that compete in America’s Cup. The foils enable it to travel more than 50 miles per hour — and about a person’s height — above the bay.
What makes this vessel so unusual is that it’s designed to soar about 30 feet above the water at up to 180 miles per hour — a feat that hasn’t quite happened yet, with the first trial flights off Rhode Island’s seacoast planned for the end of summer or early fall.
If successful, the Paladin will coast on a cushion of air over Rhode Island Sound, lifting with the same “ground effect” that pelicans, cormorants and other birds use to conserve energy as they swiftly glide over the sea. It could zoom to New York City — which takes at least three hours by train and longer on traffic-clogged freeways — in just an hour.
As it works to prove its seaworthiness to the U.S. Coast Guard and other regulators around the world, Regent is already lining up future customers for commercial ferry routes around Florida, Hawaii, Japan and the Persian Gulf.
Regent is also working with the U.S. Marines to repurpose the same vessels for island-hopping troops in the Pacific. Those vessels would likely trade electric battery power for jet fuel to cover longer journeys.
With backing from influential investors including Peter Thiel and Mark Cuban, Thalheimer says he’s trying to use new technology to revive the “comfort and refined nature” of 1930s-era flying boats that were popular in aviation’s golden age before they were eclipsed by commercial airlines.
This time, Thalheimer added, they’re safer, quieter and emission-free.
“I thought they made travel easier in a way that made total sense to me,” Cuban said by email this week. “It’s hard to travel around water for short distances. It’s expensive and a hassle. Regent can solve this problem and make that travel fun, easy and efficient.”
Co-founders and friends Thalheimer, a skilled sailor, and chief technology officer Mike Klinker, who grew up lobster fishing, met while both were freshmen at the Massachusetts Institute of Technology and later worked together at Boeing. They started Regent in 2020.
They’ve already tested and flown a smaller model. But the much bigger, 12-passenger Paladin — prototype of a product line called Viceroy — began foil testing this summer after years of engineering research and development. A manufacturing facility is under construction nearby, with the vessels set to carry passengers by 2027.
The International Maritime Organization classifies “wing-in-ground-effect” vehicles such as Regent’s as ships, not aircraft. But a database of civilian ships kept by the London-based organization lists only six around the world, all of them built before it issued new safety guidance on such craft in 2018 following revisions sought by China, France and Russia.
The IMO says it treats them as marine vessels because they operate in the vicinity of other watercraft and must use the same rules for avoiding collisions. The Coast Guard takes a similar approach.
“You drive it like a boat,” Thalheimer said. “If there’s any traffic on the harbor, you’ll see it on the screen. If you see a boat, you’d go around it. We’re never flying over boats or anything like that.”
One of the biggest technical challenges in Regent’s design is the shift from foiling to flying. Hydrofoils are fast for a seafaring vessel, but far slower than the speeds needed to lift a conventional airplane from a runway.
That’s where air blown by the 12 propellers comes in, effectively tricking the wing into generating high lift at low speeds.
All of this has worked perfectly on the computer simulations at Regent’s headquarters in North Kingstown, Rhode Island. The next step is testing it over the water.
For decades, the only warship known to mimic such a ground-effect design was the Soviet Union’s hulking ekranoplan, which was built to fly under radar detection but never widely used. Recently, however, social media images of an apparent Chinese military ekranoplan have caught the attention of naval experts amid increasingly tense international disputes in the South China Sea.
Regent has capitalized on those concerns, pitching its gliders to the U.S. government as a new method for carrying troops and cargo across island chains in the Indo-Pacific region. It could also do clandestine intelligence collection, anti-submarine warfare and be a “mothership” for small drones, autonomous watercraft or medical evacuations, said Tom Huntley, head of Regent’s government relations and defense division.
They fly below radar and above sonar, which makes them “really hard to see,” Huntley said.
While the U.S. military has shown increasing interest, questions remain about their detectability, as well as their stability in various sea states and wind conditions, and their “cost at scale beyond a few prototypes and maintainability,” said retired U.S. Navy Capt. Paul S. Schmitt, an associate research professor at the Naval War College, across the bay in Newport, Rhode Island.
Schmitt, who has seen Paladin from afar while sailing, said he also has questions about what kind of military mission would fit Regent’s “relatively short range and small transport capacity.”
The possibilities that most excite Cuban and other Regent backers are commercial.
Driving Interstate 95 through all the cities that span Florida’s Atlantic Coast can take the better part of a day, which is one reason why Regent is pitching Miami as a hub for its coastal ferry trips.
The Viceroy seagliders can already carry more passengers than the typical seaplane or helicopter, but a growing number of electric hydrofoil startups, such as Sweden’s Candela and California-based Navier, are trying to stake out ferry routes around the world.
Thalheimer sees his vehicles as more of a complement than a competitor to electric hydrofoils that can’t travel as fast, since they will all use the same docks and charging infrastructure but could specialize in different trip lengths.