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Lundin Mining (TSX:LUN,OTC Pink:LUNMF) has agreed to sell its Eagle mine and Humboldt mill in Michigan to Talon Metals (TSX:TLO,OTCID:TLOFF), pivoting its US-based operations to focus on domestic supply.

The transaction will see Lundin Mining receive 275.2 million Talon shares, representing 18.4 percent of Talon’s outstanding equity, with a total implied value of approximately US$83.7 million based on recent trading prices.

Following the deal, Lundin Mining’s stake in Talon will rise to 19.99 percent.

The Eagle mine, acquired by Lundin Mining in 2013, has produced more than 194,000 metric tons of nickel and 185,000 metric tons of copper. It had generated over US$3.2 billion in revenue as of the third quarter of 2025.

The strategic rationale for the deal centers on consolidating US nickel-copper assets under a single operator, while allowing Lundin Mining to concentrate on its larger-scale copper operations in Brazil and Chile.

Talon will operate the Eagle mine and Humboldt mill while adding new exploration opportunities, including the Tamarack project and its newly discovered Vault zone. Discovered through recent drilling, Vault features 47.33 meters of 11.01 percent nickel and 11.4 percent copper, as well as platinum-group metals.

“The combination of Talon and Eagle will create a pure-play US nickel company anchored by the Eagle mine, the only primary nickel mine currently operating in the United States,” said Lundin Mining President and CEO Jack Lundin.

“This transaction unlocks meaningful synergies, including the opportunity to leverage the Humboldt Mill as a shared, centralized processing facility,’ the executive added.

Darby Stacey, who has managed Eagle mine operations since commissioning, will assume the role of CEO and director of Talon. Lundin Mining will nominate Jack Lundin and Juan Andrés Morel to Talon’s reconstituted 10 member board.

The deal also includes arrangements such as a production payment agreement for non-Eagle ore processed at the Humboldt mill, transitional services provided by Lundin Mining and investor rights protections.

The transaction is expected to close in early January 2026, pending approval from the TSX and customary closing conditions. Talon will continue to trade on the TSX under the symbol TLO.

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

This post appeared first on investingnews.com

(TheNewswire)

      

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

TORONTO, ONTARIO (December 22, 2025) TheNewswire – Laurion Mineral Exploration Inc. (TSX.V: LME|OTC: LMEFF|FSE: 5YD) (‘LAURION’ or the ‘Corporation’) is pleased to announce that it has closed its previously-announced non-brokered private placement (the ‘Private Placement’) consisting of flow-through units (the ‘FT Units’). Pursuant to the Private Placement, the Corporation issued 4,619,130 FT Units at a subscription price of $0.33 per FT Unit, for aggregate gross proceeds to the Corporation of $1,524,313.

Each FT Unit consists of one common share of the Corporation (each, a ‘FT Share‘) and one-half of one common share purchase warrant (each, a ‘Warrant‘). Each Warrant entitles the holder thereof to acquire one non flow-through common share of the Corporation at a price of $0.39 per share for a period of 24 months from the date of issuance. The FT Shares and the Warrants comprising the FT Units qualify as ‘flow-through shares’, as defined in subsection 66(15) of the Income Tax Act (Canada) (the ‘Tax Act‘).

The gross proceeds of the Private Placement will be used for ‘Canadian exploration expenses’ (within the meaning of the Tax Act), which will qualify, once renounced, as ‘flow-through mining expenditures’, as defined in the Tax Act, which will be renounced with an effective date of no later than December 31, 2025 (provided the subscriber deals at arm’s length with the Corporation at all relevant times) to the initial purchasers of FT Units in an aggregate amount not less than the gross proceeds raised from the issue of the FT Units. LAURION intends to allocate the proceeds from the Private Placement to advance the Corporation’s 2026 drill program on the Ishkõday property. Planned drilling will focus on key areas within the A-Zone/McLeod and CRK Trend, as well as the historic Sturgeon River Mine area. These zones have been prioritized based on their structural characteristics, surface observations and past drill results, as LAURION continues to build on its growing understanding of the broader mineralized system.

‘This financing enables us to keep advancing our disciplined, technically driven approach to unlocking the potential of the Ishkõday system,’ said Cynthia Le Sueur-Aquin, President and CEO. ‘We are targeting areas with strong structural and geological signals, guided by strong technical fundamentals and a clear strategy for long-term value creation.’

In connection with the Private Placement, certain arm’s-length finders received an aggregate of $66,559 as a cash finder’s commission and an aggregate of 201,693 finder’s warrants. Each finder’s warrant entitles the holder thereof to acquire one non flow-through common share of the Corporation at a price of $0.33 per share for a period of 24 months from the date of issuance.

Pursuant to applicable Canadian securities laws, all securities issued pursuant to the Private Placement are subject to a hold period of four months and one day, expiring on April 23, 2026. The Private Placement remains subject to the final approval of the TSX Venture Exchange (the ‘TSXV‘).

About LAURION Mineral Exploration Inc.

 

The Corporation is a mid-stage junior mineral exploration and development company listed on the TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. LAURION now has 278,716,413 outstanding shares, of which approximately 73.6% are owned and controlled by insiders who are eligible investors under the ‘Friends and Family’ categories.

 

LAURION’s emphasis is on the exploration and development of its flagship project, the 100% owned mid-stage 57 km2 Ishkõday Project, and its gold-rich polymetallic mineralization.

 

LAURION’s chief priority remains maximizing shareholder value. A large portion of the Corporation’s focus in this regard falls within the scope of its mineral exploration activities and more specifically, advancing the Ishkõday Project. A consequence of LAURION’s success and advancement over the past several years is that the Corporation has become positioned as an acquisition target for appropriate potential acquirors. Accordingly, the Corporation’s Board of Directors is aware that possible strategic alternatives and transactional opportunities may arise and/or could be procured in the short or medium terms. The Corporation will promptly issue a press release if any material change occurs.

 

FOR FURTHER INFORMATION, CONTACT:


LAURION Mineral Exploration Inc.

 

Cynthia Le Sueur-Aquin – President and CEO

Tel: 1-705-788-9186 Fax: 1-705-805-9256

 

Douglas Vass – Investor Relations Consultant

Email: info@laurion.ca

 

Website: http://www.LAURION.ca

 

Follow us on: X (@LAURION_LME), Instagram (laurionmineral) and LinkedIn ()

 

Caution Regarding Forward-Looking Information

 

This press release contains forward-looking statements, which reflect the Corporation’s current expectations regarding future events including with respect to LAURION’s business, operations and condition, management’s objectives, strategies, beliefs and intentions, the use of proceeds of the Private Placement, the Corporation’s ability to advance, expand and/or develop the Ishkõday Project and any possible strategic alternatives and transactional opportunities that may arise and/or could be procured in the future with respect to the Corporation. The forward-looking statements involve risks and uncertainties. Actual events and future results, performance or achievements expressed or implied by such forward-looking statements could differ materially from those projected herein including as a result of a change in the trading price of the common shares of LAURION, the TSXV not providing its final approval for the Private Placement (including the payment of finders’ fees in connection therewith) or any strategic alternatives or transactional opportunities, the interpretation and actual results of current exploration activities, future prices of gold and/or other metals, and those factors disclosed in the Corporation’s publicly filed documents. Investors should consult the Corporation’s ongoing quarterly and annual filings, as well as any other additional documentation comprising the Corporation’s public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable law, the Corporation disclaims any obligation to update these forward-looking statements. All sample values are from grab samples and channel samples, which by their nature, are not necessarily representative of overall grades of mineralized areas. Readers are cautioned to not place undue reliance on the assay values reported in this press release.

 

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

  

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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The Justice Department on Monday appealed the dismissal of its criminal cases against former FBI director James Comey and New York Attorney General Letitia James, making good on its vow to revive both cases despite what appear to be significant legal and procedural hurdles.

Lawyers for the Trump administration appealed both cases Monday to the Fourth Circuit Court of Appeals, based in Richmond, Va. 

‘The power to appoint an interim U.S. Attorney for the Eastern District of Virginia pursuant to 28 U.S.C. § 546 during the current vacancy lies with the district court until a U.S. Attorney is nominated by the President and confirmed by the Senate,’ the Justice Department said in its appeal.

Both appeals challenge a ruling handed down by U.S. District Judge Cameron Currie in November, which found that former Trump lawyer Lindsey Halligan was illegally appointed to her role as interim U.S. attorney for the Eastern District of Virginia. 

Because Halligan was unlawfully appointed — and was the sole prosecutor who secured the indictments — Currie ruled that the indictments were invalid and dismissed both cases without prejudice.

‘Ms. Halligan has been unlawfully serving in that role since September 22, 2025,’ Currie said in an opinion filed in both cases. 

‘All actions flowing from Ms. Halligan’s defective appointment’ as a result, he said, ‘constitute unlawful exercises of executive power and must be set aside.’

Attorney General Pam Bondi vowed then to ‘immediately’ appeal the decision, and FBI Director Kash Patel said the FBI and Justice Department are exploring other options to keep the case against Comey alive.

James was charged with two counts of bank fraud and making false statements to a financial institution during her 2020 purchase of a home in Norfolk, Virginia. 

Comey was charged with making false statements to Congress and for obstruction related to his testimony in September 2020. 

Currie dismissed Comey’s case and James’ case ‘without prejudice’ – a detail that left the door open for the government to secure new indictments.

Prosecutors ultimately attempted, without success, to re-indict both Comey and James, prompting new questions about the strength of the case.

Federal prosecutors twice tried and failed to secure a new indictment against James from grand juries in Norfolk and then in Alexandria. Neither effort was successful.

In Comey’s case, a separate judge ordered prosecutors to erase certain evidence – including emails and data – that had played a central role in the Justice Department’s case.

Comey’s case also raises statute-of-limitations concerns, as both charges carried five-year limits that expired Sept. 30 – just three days after Bondi installed Halligan at the U.S. Attorney’s Office.

It is unclear whether the judge’s order ‘resets the clock’ on the statute of limitations under a federal law, as Trump’s allies have argued it should. 

Under the same law, a dismissal by the Fourth Circuit U.S. Court of Appeals would trigger a 60-day window for the Trump administration to re-indict Comey.

The Justice Department notified the lower court Monday that it had filed both requests to the Richmond-based U.S. Court of Appeals for the Fourth Circuit. 

This post appeared first on FOX NEWS

The Social Security Administration’s (SSA) internal watchdog has confirmed that the agency’s publicly reported phone service data was accurate and that performance improved during fiscal year 2025, according to a new audit completed after Sen. Elizabeth Warren, D-Mass., questioned whether the figures could be trusted.

The Office of the Inspector General (OIG) reviewed the SSA’s national 800-number telephone metrics and found that the data the agency released to the public was correct, and that overall service improved during fiscal year 2025, according to a draft audit report provided to agency leadership ahead of public release. The report did not issue any recommendations to the agency.

The review was initiated after Warren expressed concerns in June about long wait times and the reliability of SSA’s phone performance data. She formally requested an audit on July 24, prompting SSA Commissioner Frank J. Bisignano, who serves under President Donald Trump, to agree to an independent review by the watchdog.

The audit found that SSA served 68 million callers during fiscal year 2025, either through live agents or automated systems, a 65% increase from the prior year. Average wait times fluctuated early in the year but improved steadily, according to the audit, ending the fiscal year at roughly seven minutes in September after peaking at about 30 minutes in January.

The metric cited by the agency, known as Average Speed of Answer, measures only the time callers actively wait on hold before speaking to an employee and does not include time spent waiting for callbacks.

‘Last year, people waited 40 minutes on the phone, and now they’re in single digits. We’re doing twice as many calls,’ Bisignano said.

In an exclusive interview with Fox News Digital, Bisignano said the audit confirmed what agency leadership had been reporting publicly about improvements in service levels.

‘Senator Warren was completely wrong in everything that she was saying, and it’s now been proven out,’ Bisignano said, citing the watchdog’s finding that SSA’s publicly reported telephone metrics were calculated accurately.

Bisignano said he welcomed the audit and was confident the data would withstand independent scrutiny.

The inspector general’s report concluded that SSA’s telephone performance improved during fiscal year 2025 largely because of operational changes, including the rollout of a new cloud-based telecommunications platform, expanded automation and staffing realignments. The platform, implemented in August 2024, allowed SSA to increase call capacity, expand self-service options and monitor performance in real time, according to the report.

The watchdog also confirmed that SSA’s internal data-verification process ensured accuracy by comparing raw data with reported metrics and working with vendors to resolve any discrepancies. The audit found no evidence that the agency misrepresented its national 800-number performance.

Bisignano said improvements were driven by a combination of technology, process changes and workforce adjustments.

The report explains that SSA experienced especially high call volumes between January and March 2025 due to Medicare and tax-related questions, as well as the implementation of the Social Security Fairness Act of 2023, which affected more than 3.2 million beneficiaries. 

Despite the surge, the agency reduced average wait times over the course of the year.

The audit also found that about 25 million calls during fiscal year 2025 ended without callers receiving service, either because callers disconnected, did not answer callback attempts or encountered busy signals. Those calls were not included in the agency’s wait-time metrics.

Automation played a growing role in absorbing the surge. According to the audit, automated systems handled an average of nearly 2.9 million calls per month in fiscal year 2025, up from about 300,000 per month the year before. Automated services allowed callers to complete common tasks without speaking to a live agent, reducing pressure on phone lines.

The inspector general also reviewed how SSA calculates its Average Speed of Answer metric, which measures the time callers actively wait on hold before speaking to an employee. The audit clarified that callers who accept a callback are counted as having zero active wait time, a methodology that reduces the average but does not include the time callers wait to receive callbacks.

Bisignano said transparency about how the numbers are calculated is essential.

‘We figured out how to leverage technology, process engineering, and human capital,’ he said.

Staffing changes also contributed to the turnaround. Early in fiscal year 2025, the number of employees available to answer national 800-number calls declined by about 13%. By July, SSA began assigning roughly 1,000 field office employees each day to help handle national call volume. The audit found that this coincided with sharp improvements in wait times, with Average Speed of Answer dropping from about 13 minutes in June to roughly 7.5 minutes in July.

The audit did not evaluate service levels or wait times at local Social Security field offices.

Beyond wait times, the audit found that service quality remained high. About 87% of callers who responded to post-call surveys said their issue was resolved on the first contact. The survey results reflect feedback from callers who reached an SSA employee and do not include callers who only used automated services.

Bisignano said the improvements matter most for seniors and beneficiaries who rely on Social Security services.

‘We’re investing in Social Security and servicing the American public at a level they’ve never been serviced before,’ he said. ‘We’ll meet you where you want to be met: on the phone, in the field offices or on the web.’

He added that people who haven’t called the agency recently may be surprised by how much has changed.

‘What would surprise them the most is how quickly they can get their phone call answered,’ he said.

Looking ahead, Bisignano said the agency plans to continue expanding digital services and reducing backlogs, including in disability claims, while maintaining accountability through ongoing oversight.

‘Expect us to always have double-digit improvements in every metric we have,’ he said. ‘This is just the beginning.’

The OIG report in full can be read here.

‘The bottom line is that Donald Trump’s Social Security chief lied about call wait times to cover up his customer service mess,’ Sen. Warren said in an email to Fox News Digital. ‘This new watchdog report reveals that true wait times were more than three times higher than what Commissioner Bisignano claimed, and tens of millions of callers were simply unable to get help on the phone at all.’

This post appeared first on FOX NEWS

The Department of War announced Monday that the Pentagon is partnering with Elon Musk’s artificial intelligence (AI) ecosystem to deploy Grok across its government systems.

The agency said the ‘frontier‑grade’ capabilities of xAI’s Grok family of models will be integrated into the department’s recently launched AI platform, GenAI.mil

As soon as early 2026, the partnership will allow the Department’s 3 million military and civilian personnel to safely access more advanced AI tools for everyday tasks, including handling sensitive government information.

According to xAI, its tools can support administrative tasks at the federal, state and local levels, as well as ‘critical mission use cases’ at the front line of military operations.

‘Today, the War Department officially entered into an agreement with xAI, paving the way for the deployment of its advanced capabilities on GenAI.mil,’ the department said. ‘This move builds on the rapid deployment of cutting‑edge AI across the Department’s 3 million military and civilian personnel.’

The tools will allow employees to use xAI safely on secure government systems for routine work, including tasks involving sensitive but unclassified information, without violating security protocols.

With xAI designed to analyze real-time data, the War Department said the partnership would give personnel ‘a decisive information advantage.’ 

Grok will give personnel access to live information from X, providing the War Department with faster situational awareness around the globe, the department said.

xAI added that the partnership could lead to potential future classified workloads. 

‘Through an ongoing, long-term partnership with the DoW and other mission partners, xAI will make available a family of government-optimized foundation models to support classified operational workloads,’ the company said.

The War Department said that it will continue to scale its AI ecosystem for speed, security and decision superiority.

‘This announcement marks another milestone in America’s AI revolution, and the War Department is driving that momentum forward,’ the department said. 

‘These two new partnerships are part of our longstanding support of the United States Government and xAI’s mission to bring the best tools and technologies available in industry to benefit our nation,’ xAI added.

The collaboration marks another chapter in Elon Musk’s long-running relationship with government initiatives.  

Musk previously helped lead the Trump administration’s Department of Government Efficiency, where he briefly reformed operations and cut excess spending within the federal government. 

This post appeared first on FOX NEWS

The Federal Communications Commission announced on Monday that it would ban new foreign-made drones, citing national security concerns.

The FCC said it was adding uncrewed aircraft systems (UAS) and their critical components made in China and other foreign countries to its ‘covered list’ that features equipment that has been determined to pose an ‘unacceptable risk’ to U.S. national security and the safety of Americans. Specific drones or components would be exempt if the Pentagon or Department of Homeland Security determined they did not pose such risks.

The distinction prohibits the products from being sold or imported in the U.S. The order does not apply to technology that has already been sold in the U.S.

The agency said that allowing foreign-made UAS and component parts to be sold in the U.S. ‘undermines the resiliency of our UAS industrial base, increases the risk to our national airspace, and creates a potential for large-scale attacks during large gatherings,’ citing upcoming events such as the 2026 World Cup and the 2028 Summer Olympics in Los Angeles.

‘Criminals, terrorists, and hostile foreign actors have intensified their weaponization of these technologies, creating new and serious threats to our homeland,’ the FCC said in its notice.

The announcement comes a year after a defense bill was adopted that raised national security concerns about Chinese-made drones, which have been used in farming, mapping, law enforcement and filmmaking.

The bill called for stopping two Chinese companies — DJI and Autel — from selling new drones in the U.S. if a review found they posed a risk to U.S. national security.

A spokesperson for DJI said in a statement that it is ‘disappointed’ by the FCC’s decision and that ‘no information has been released regarding what information was used’ in the government’s determination to add its drones and component parts to the covered list.

‘Concerns about DJI’s data security have not been grounded in evidence and instead reflect protectionism, contrary to the principles of an open market,’ the statement said.

The House Select Committee on the Chinese Communist Party praised the FCC’s move, saying it ‘strongly supports’ the decision.

‘It will help safeguard our national security, protect the American people, and wind down the unacceptable national security threat posed by DJI and other Chinese drones,’ the committee wrote on X.

‘Taken together with the Administration’s recent executive actions to accelerate domestic drone commercialization, this sends an unmistakable signal to American industry: The U.S. is open for drone innovation—and American manufacturing will be rewarded,’ it added.

Arthur Erickson, chief executive officer and co-founder of the Texas-based drone-making company Hylio, told The Associated Press that the departure of DJI would provide more opportunity for American companies like his to grow. He said new investments are coming in to help him boost production of spray drones, which farmers use to fertilize their fields, and it will bring down prices.

But Erickson also called it ‘crazy’ and ‘unexpected’ that the FCC would expand the restrictions to all foreign-made drones and their components.

‘The way it’s written is a blanket statement,’ Erickson said. ‘There’s a global-allied supply chain. I hope they will clarify that.’

The Associated Press contributed to this report.

This post appeared first on FOX NEWS

For Americans wondering about the future of China and its relationship with the West, the latest verdict in the Jimmy Lai case proves an ominous harbinger of Hong Kong’s continued slide towards authoritarianism. Lai, the self-made billionaire, media entrepreneur and pro-democracy activist, has been held prisoner of the Chinese Communist Party for five years under Hong Kong’s National Security Law. He was finally convicted Dec. 14 on trumped-up charges of sedition.    

This verdict, handed down in 855 pages of meaningless gobbledygook, is Lai’s second conviction during his state-sponsored persecution since Hong Kong’s 2019 pro-democracy protests. Lai was previously found guilty of lease violations in connection with Apple Daily, his popular former newspaper that was closed by the Chinese government in 2021, and sentenced to 69 months in prison. The latest charges, for which Lai will be sentenced in early January, carry a penalty of 10 years to life in prison.   

Of course, these nuances and timelines are meaningless; Lai has been imprisoned since December 2020, with his case delayed, extended, postponed, appealed and otherwise stage-managed in accordance with the wishes of the CCP. Lai was also denied the lawyers of his choice. Hong Kong will likely throw the book at him in January, and Lai – already in failing health due to the apparently inhumane conditions of his solitary confinement – will face eventual death in prison. It’s a grim birthday present for Lai, who turned 78 recently.  

How did we get here? Lai knows why, describing himself as a ‘troublemaker, but one with a good conscience.’ ‘The establishment hates my guts,’ Lai says, and you’d have to say he’s earned that hatred from a leadership in Beijing and now Hong Kong that doesn’t tolerate dissent. Having participated in Hong Kong’s pro-democracy protests in 2019, supported the Umbrella Movement in 2014, and expressed public concern in the aftermath of 1989’s Tiananmen Square massacre, Lai has long been a thorn in the side of the CCP.   

Lai’s irreverent, pro-free-speech publications, Apple Daily and Next Magazine, frequently reported unwelcome facts, challenged the status quo and asked hard questions of Chinese officialdom amid growing state censorship. It was Lai’s courageous, decades-long commitment to democratic values that led my organization, The Fund for American Studies, to honor him in 2022 with the Kenneth Y. Tomlinson Award for Courageous Journalism.

Among all his causes, Lai’s most dear was the protection of his adopted city, Hong Kong. Having escaped there as a child after growing up in 1950s mainland China, Lai knew firsthand that Communist regimes deprive their people of fundamental freedoms. Despite China’s treaty agreement with the U.K. and the CCP’s ‘one country, two systems’ commitment, which guaranteed Hong Kong’s autonomy until at least 2047, Lai foresaw that the CCP would accelerate its ultimate takeover of Hong Kong.   

The mainland’s creeping authoritarianism is why my organization ended its program at the University of Hong Kong after 2019. We foresaw the coming crackdown in Hong Kong, and this week’s verdict is one more nail in the coffin of Hong Kong’s once internationally respected legal system. In a chilling coincidence, Hong Kong’s Democratic Party, the city’s largest opposition group, also voted to disband on the eve of the verdict. Unfortunately, our worries (and Lai’s) about Hong Kong’s future have been proven true.

Where do we go from here? First, Western leaders must continue to seek Lai’s release on humanitarian grounds. U.K. Prime Minister Keir Starmer plans to visit China next month, and his government has said that freeing Lai (who is a British citizen) is a priority. This week, President Donald Trump also asked Chinese leader Xi Jinping to free Lai. With Lai’s formal conviction now public, it may open up space for a diplomatic resolution. Now is the time to ramp up the pressure for his release.  

Second, the West must remain vigilant in the face of China’s continued belligerence toward its neighbors and its suppression of values such as freedom of speech, religious liberty and press freedom. These are values under siege worldwide. Journalists, religious figures and democracy advocates have been killed or imprisoned for exercising these rights. Jimmy Lai is an example of incredible bravery and commitment to democratic values, but his imprisonment is also a sobering warning of the dangers of authoritarianism.  

This post appeared first on FOX NEWS

Investor Insight

With a tight capital structure, experienced management and strategic gold, silver and copper project locations near major past-producing mines, Questcorp is well-positioned to deliver discovery-driven growth to investors.

Overview

Questcorp Mining (CSE:QQQ,OTC:QQCMF,FSE:D910) is a Canadian junior exploration company focused on unlocking value in two high-potential mineral districts: the Sonoran Gold Belt in Mexico and Vancouver Island in British Columbia.

The company aims to build shareholder value through disciplined exploration of assets with near-surface mineralization and proven geologic continuity. The company operates in mining-friendly jurisdictions, close to infrastructure and within major metal-producing belts. Its flagship La Union gold project offers high-grade gold-silver-lead-zinc potential in Mexico, while the North Island copper project provides exposure to porphyry copper and skarn systems in a district that hosts multi-billion-pound copper resources.

With gold prices near all-time highs and a copper supply crunch emerging, Questcorp is targeting discoveries that can drive exponential value from a tightly held share structure.

Company Highlights

  • Flagship Asset – La Union Gold Project (Mexico): A high-grade carbonate replacement gold system in the Sonoran Gold Belt, boasting historical production, strong geologic signatures and drill-ready targets with >80 g/t gold surface samples.
  • Copper Exposure in Tier-1 Jurisdiction: The North Island copper project lies just north of BHP’s historic Island Copper Mine. It shows promising porphyry and skarn-style mineralization and is adjacent to Northisle’s multi-million-ounce copper-gold deposits.
  • Tight Capital Structure and Strategic Investors: ~93 million shares outstanding with over 80 percent held by long-term, high-net-worth, US and International investors with 3-5 year investment window.
  • Execution-focused Management: Led by Founding President & CEO Saf Dhillon, a veteran builder of public companies, and geologist Tim Henneberry, with over 45 years of global exploration success.
  • Immediate Catalysts: Near-term exploration at both assets with active permitting, drill programs and news flow expected throughout 2025.

Key Projects

La Union Gold Project – Sonora, Mexico (Flagship Asset)

The La Union gold project is a 2,604-hectare, road-accessible high-grade carbonate replacement deposit (CRD) located at the edge of the Sonoran Gold Belt, one of the richest gold-producing regions in Mexico. The property is located near major mines, including La Herradura (6.7 Moz, measured and indicated) and San Francisco (1.4 Moz, measured and indicated), and boasts historical production from underground operations by Peñoles and others, reportedly yielding ~50,000 ounces of gold in the 1950s at grades of 7 to 20 grams per ton (g/t) gold.

La Union gold project location

Work done to date includes consolidation of seven historical properties into a single district-scale project by Riverside Resources, which invested more than US$2.5 million in geological mapping, sampling and target definition. Sampling has returned high-grade grab samples including 83.2 g/t gold, 4,816 g/t silver, 30 percent zinc, and 19.8 percent lead. Channel sampling and geological work identified eight mineralized zones, three of which – Plomito, La Famosa and La Union – are drill-ready and fully permitted.

Geology and history of La Union

Questcorp executed a definitive agreement with Riverside in May 2025 to earn up to 100 percent interest in the project. The planned Phase I program includes drilling 10 diamond drill holes averaging 300 meters in depth across the three priority targets, alongside geophysical (gravity and EM) surveys to refine targets. Questcorp will also continue surface exploration at the remaining five targets to identify additional drill candidates. The project’s polymetallic nature and porphyry potential at depth suggest significant resource upside. Riverside remains as the operator during the earn-in, bringing proven success in similar deposits such as Alamos Gold’s Mulatos.

North Island Copper Project (NICP) – Vancouver Island, BC

The North Island copper property is an exploration-stage project located on the northern tip of Vancouver Island, approximately 7.5 km northwest of BHP’s historic Island Copper Mine. The Island Copper operation historically produced 1.2 billion kg copper, 35,268 kg gold, 360,800 kg silver, and significant molybdenum and rhenium from 367 million tonnes of ore, underscoring the district’s endowment.

NICP hosts eight documented copper-silver skarn occurrences and displays porphyry-style mineralization associated with the Island Intrusive suite. The property is geologically anchored by two main target areas: skarns associated with Quatsino limestones in the east and a porphyry copper target to the west, known as the Marisa Zone. Historical drilling by previous operators at Marisa intersected broad zones of copper mineralization, including:

  • DDH92-01: 0.078 percent copper over 56.39 m, including 0.171 percent copper over 16.17 m
  • DDH92-03: 0.041 percent copper over 70.71 m, with increasing grade at depth

Despite promising results, these zones were never followed up. Questcorp intends to revisit and expand on this historic work. The next steps include completing a 3D induced polarization (IP) survey to model chargeability and resistivity anomalies, followed by a focused drill campaign targeting extensions of the Marisa porphyry.

The project benefits from excellent access via the Vancouver Island Highway and logging roads, plus nearby hydro infrastructure, offering low-cost exploration potential. With a favorable neighborhood, including Northisle Copper & Gold Inc. (TSXV:NCX) with a ~$800 million market cap, NICP represents a high-upside copper exploration story in a Tier-1 jurisdiction.

Founding Directors and Management Team

Saf Dhillon – President, CEO and Director

Saf Dhillon has been involved in the development of public companies for over 20 years, holding various positions including investor relations, business development and senior management, as well as board directorships, building an extensive worldwide list of contacts. He was a key member of the Idaho-based US Geothermal’s management team, which grew the company from an approximately US$2 million startup to a successful independent renewable energy power producer with three new power plants operating in the Pacific Northwest. Saf is President & CEO of iMetal Resources Inc. (TSXV:IMR), President & CEO of Bayridge Resources Corp. (CSE:BYRG). He is also a founding director of Torrent Gold (CSE:TGLD), a board member of Lake Winn Resources (TSXV:LWR), and provides assistance to several other private and public companies.

R. Tim Henneberry – Director

R. Tim Henneberry is a professional geoscientist with over 43 years of experience in domestic and international exploration and production for base and precious metals and industrial minerals. He founded Mammoth Geological in 1991, providing geological consulting services to numerous private and publicly traded companies. Henneberry has been involved in senior management of several TSX Venture and CSE-listed companies over the last 30+ years, serving as director, senior officer or advisor, including the founding of several.

Scott Davis – Director

Scott Davis is a partner of Cross Davis & Company LLP, Chartered Professional Accountants, providing accounting and management services for publicly listed companies. His experience includes CFO positions of several companies listed on the TSX Venture Exchange, and his past experience consists of senior management positions, including four years at Appleby as an assistant financial controller. Prior to that, he spent two years at Davidson & Company LLP, Chartered Professional Accountants, as an auditor, and five years with Pacific Opportunity Capital as an accounting manager.

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After peaking above US$20,000 per metric ton (MT) in May 2024, nickel prices have trended steadily downward.

Behind the numbers is a persistent oversupply driven by Indonesia’s high output, the world’s largest nickel producer.

At the same time, demand from China’s manufacturing and construction sectors, a traditional driver of stainless steel, has been weak as the country’s beleaguered real estate sector continues to find its footing.

Read on to learn what other key factors moved the nickel sector in 2025.

Nickel price in Q4

There wasn’t much change at the start of the quarter; the price was essentially trading in the US$15,000 to US$15,500 range, the same as it had since recovering from the post-liberation day tariff announcement rout in the base metals market in April that sent the price spiraling to a year-to-date low of US$14,150.

Nickel price, December 19, 2024, to December 18, 2025.

Chart via TradingEconomics.

However, cracks began to form at the end of October as it became clearer that the oversupply situation was likely to persist, pushing prices back below the US$15,000 mark by mid-November.

Prices for nickel rebounded in late November, but failed to break the US$15,000 again and slid toward a yearly low, reaching US$14,235 on December 15.

Oversupply continues to weigh on nickel

At the end of the year’s third quarter, the expectation was that nickel prices would carry momentum as the monsoon season arrived in the Philippines; however, despite seasonal declines in output, the market ‘s supply glut persisted, and prices continued to trend lower at the end of the period.

As of September 30, London Metal Exchange (LME) warehouses held 231,504 MT of nickel, and by November 28, stockpiles had grown to 254,364 MT, nearly 100,000 MT higher than the start of 2025.

According to a mid-December Shanghai Metals Market article, refined production decreased by 25,800 MT in November. Still, it was outpaced by inventory accumulation, as downstream demand remained soft.

On the demand side, stockpile buildups coincided with the traditional off-season for stainless steel producers, which accounts for 60 percent of total nickel demand, and weak end-use consumption led some producers to initiate output cuts. Additionally, Shanghai Metals Market notes that stainless demand was further impacted by the superior economics of recycled materials. The outlet also states that although production costs in Indonesia are lower than elsewhere, the price of nickel is rapidly approaching producers’ break-even point.

In February, the Indonesian government changed its quota system, increasing nickel ore output to 298.5 million wet metric tons from 271 million wet metric tons in 2024. The move from the top nickel producer was designed to alleviate supply pressures, with increased production limited to major production areas.

This was followed in October by a change to the length of time production quotas were valid, shortening it to one year from three years, and forcing miners to reapply for previously approved quotas for 2026 and 2027.

Changes were made to the application system after companies failed to meet environmental obligations, and companies will now have to submit proof they have the financial means to remediate land after operations are complete.

Adding to the metal’s woes at the end of the year is demand from the electric vehicle (EV) sector slipping as more battery producers pivot away from nickel in their chemistries, as cheaper lithium-iron-phosphate batteries improve efficiency.

For her part, Manthey, explained that everything has aligned for a bear market.

“LME stockpiles are at a four-year high, with Chinese and Indonesian cathode dominating,” she said, adding that growth in battery metals was slower than expected, and that demand for stainless steel was sluggish on the back of global weakness in manufacturing.

How did nickel perform for the rest of the year?

The rest of the year wasn’t much different for nickel.

The oversupply situation carried over from 2024, with Indonesian producers making up roughly 60 percent of the market. Likewise, curtailments continued among western producers as prices were unable to cover costs.

In April, the Indonesian government made a significant change to its royalty rates, hiking them to between 14 and 19 percent, depending on the nickel price. That’s up from the country’s previously imposed 10 percent flat rate, with a 2 percent royalty on nickel mattes destined for battery production.

As the second quarter began, base metal prices sank amid rising expectations of a global recession following US President Donald Trump’s “Liberation Day” tariff announcement on April 2.

Markets rebounded after their initial tariff plans were walked back, following a bond market squeeze that pushed 10 year treasury yields up by more than half a percentage point.

Nickel faced further pressures in July as the One Big Beautiful Bill was signed into law in the US, ending the federal EV tax credit, as well as other tax credits for expanding charging infrastructure. The change came into effect on September 30 and eliminated a US$7,500 rebate on the purchase of new EVs. Before the end of the tax credit, data showed that American EV sales reached a record 1.2 million through the first nine months of 2025, with the share for EVs climbing to 12 percent in Q3 as consumers made purchases ahead of the program’s end.

Q4 data shows EV sales have declined significantly since the tax credit expired, and interest in EVs has fallen by 20 percent. The fall caused Ford Motor (NASDAQ:F) to pull back on its EV plans and take a US$19.5 billion writedown.

Investor takeaway

Nickel prices continued on a downtrend in 2025, and expectations aren’t much different for the year ahead.

Until the metal see ssustained upward momentum, it’s unlikely that curtailed western operations will be restarted.

For experienced investors, this may offer an opportunity to enter a market closer to the bottom than the top. However, until there is a significant correction in supply and demand fundamentals, the nickel market won’t have much of a tailwind, leading to a riskier market, that may have a lengthy period before returns are realized, if at all.

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

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