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Centers for Medicare and Medicaid Services (CMS) administrator Dr. Mehmet Oz says the Trump administration plans to invest more than $200 billion ‘more dollars’ into Medicaid following the passage of the ‘One Big Beautiful Bill.’ 

‘I’m trying to save this beautiful program, this noble effort, to help folks, giving them a hand up,’ Oz told CBS’ ‘Face the Nation’ on Sunday.

‘And as you probably gather, if Medicaid isn’t able to take care of the people for whom it was designed, the young children, the dawn of their life, those who are twilight of their lives, the seniors, and those who were disabled living in the shadows, as Hubert Humphrey said, then we’re not satisfying the fundamental obligation of a moral government,’ he continued. 

Oz, the 17th administrator for CMS, said the government wants ‘an appropriate return’ on the Medicaid investment. He addressed the difference in drug costs between the U.S. and Europe, adding that work is being done by the administration in an attempt to bring drug prices down.  

Last week, the Trump administration announced it is launching a new program that will allow Americans to share personal health data and medical records across health systems and apps run by private tech companies, promising that this will make it easier to access health records and monitor wellness.

CMS will be in charge of maintaining the system, and officials have said patients will need to opt in for the sharing of their medical records and data, which will be kept secure.

Those officials said patients will benefit from a system that lets them quickly call up their own records without the hallmark difficulties, such as requiring the use of fax machines to share documents, that have prevented them from doing so in the past.

‘We’re going to have remarkable advances in how consumers can use their own records,’ Oz said during the White House event.

CMS already has troves of information on more than 140 million Americans who enroll in Medicare and Medicaid. Earlier this month, the federal agency agreed to hand over its massive database, including home addresses, to deportation officials.

The Associated Press contributed to this report. 

This post appeared first on FOX NEWS

On Thursday (July 31) Statistics Canada released gross domestic product figures for May. The data shows the Canadian economy shrank for the second month in a row, edging down by 0.1 percent.

The decline was headlined by decreases in the resource sector, which posted a 1 percent contraction, led by a 2.1 fall in the mining and quarrying subsector. Oil and gas extraction was also down, recording a drop of 0.8 percent, marking the first back-to-back months of negative growth for the subsector since April and May 2023.

However, the agency reported that advance figures for June show a reversal, with its data indicating a 0.1 percent growth during the month, and flat GDP for the second quarter. StatsCan will post its official figures on August 29.

The Bank of Canada held its rate meeting this week, opting to hold its interest rate steady at 2.75 percent, citing resilience in the economy despite the trade dispute with the United States.

The economic news comes against a backdrop of tariff threats from the United States. In July, the White House vowed to increase the tariff rate of non-CUSMA-compliant goods from Canada from the 25 percent imposed earlier in the year to 35 percent if a deal wasn’t negotiated by the August 1 deadline.

On Thursday evening, the night before the deadline, Donald Trump signed an executive order increasing levies on goods entering the US from Canada. While CUSMA-compliant goods are largely exempt, the new tariff rate will have a significant impact on Canada’s auto, steel and softwood lumber industries.

Canada is not alone, as new tariffs rates will be applied on imports from all countries that were part of his original April 2 announcement. Those countries that have successfully negotiated agreements will also pay tariffs, but at a lower rate. However, the US also announced that it won’t begin collecting tariffs on imports until August 7. The delay is intended to allow more time for completing negotiations and for US Customs to adjust to the new policy.

The United States also released a slew of economic news this week, with fresh GDP, inflation and jobs data.

The US Bureau of Economic Analysis (BEA) released its second-quarter advance GDP estimate on Wednesday (July 30). While it shows solid growth of 3 percent after a 0.5 decline in the first quarter, analysts suggest it may be masking underlying weakness in the overall economy.

Decreases in Q1 were mainly due to a rise in imports, which are deducted from GDP calculations, as companies stockpiled goods in anticipation of US tariffs taking effect. However, the second quarter’s increase was due to companies reducing imports and working through their pre-tariff stockpiles.

US GDP is up a modest 1.2 percent since the start of the year, well below the 2.5 percent growth rate in 2024.

On Thursday, the US BEA released its personal consumption expenditures index (PCE) data. The report shows that inflation surged to 2.6 percent in June on an annual basis, above analysts’ expectations of a 2.5 percent rise and up from May’s 2.4 percent. Less the volatile food and energy categories, PCE came in at 2.8 percent, matching numbers from the previous month.

How much tariffs played a role in that increase is uncertain, but the PCE is a critical factor for the Federal Reserve’s decision in setting its benchmark Federal Funds Rate.

The central bank board met for its July meeting on Tuesday (July 29) and Wednesday, and ultimately decided to continue to hold the rate at 4.25 to 4.5 percent. Although it noted there was less uncertainty compared to its last meeting, Powell noted that they were still unsure whether inflation due to tariffs would be a one-time increase or if it would have longer-term implications.

Finally, the US Bureau of Labor Statistics released July’s nonfarm payroll report on Friday (August 1), reporting that an estimated 73,000 jobs were added to the economy in July. While additional government and business reports resulted in significant downward revisions to the initial May and June job estimates, dropping May’s numbers from 144,000 to 19,000 added jobs and June’s from 147,000 to 14,000. The figures indicate a rapid slowdown in employment growth in the United States.

Outside of the pandemic, employment growth in the United States has recorded the slowest start to the year since 2010.

Following the report’s release, Trump fired Bureau of Labor Statistics Commissioner Erika McEntarfer, accusing her without evidence of manipulating job data to make him look worse. The decision has drawn wide-spread criticism and concern that government sources on economic data will no longer be trustworthy.

Markets and commodities react

In Canada, equity markets were negative this week as Canada was unable to secure a deal with the United States. Although it reached a new all-time high Wednesday, the S&P/TSX Composite Index (INDEXTSI:OSPTX) ultimately declined 1.3 percent over the week to close at 27,020.43 on Friday. The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell further, moving down 5.08 percent to 761.21. The CSE Composite Index (CSE:CSECOMP) was the lone gainer, rising 0.76 percent to 134.37.

US equity markets were broadly down on Friday on the new US tariffs and poor job data. The S&P 500 (INDEXSP:INX) fell 2.07 percent to 6,238.00, the Nasdaq 100 (INDEXNASDAQ:NDX) dropped 1.89 percent to 22,763.31 and the Dow Jones Industrial Average (INDEXDJX:.DJI) shed 2.61 percent to 43,588.57.

In precious metals, after falling mid-week, the gold price rebounded sharply on Friday, ultimately ending the week up 0.77 percent to US$3,362.94 by Friday at 4 p.m. EDT. Meanwhile, the silver price dropped dramatically during the week. While it also bounced Friday, it still fell 5.66 percent to US$37.01.

In base metals, copper prices plummeted 23.16 percent to US$4.48 per pound after President Trump announced refined copper exemptions to the 50 percent copper tariff earlier in the week. The S&P GSCI (INDEXSP:SPGSCI) was up mid-week but slumped on Friday, registering a 0.57 percent loss to finish the week at 545.59.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stock data for this article was retrieved at 4 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Helius Minerals (TSXV:HHH)

Weekly gain: 72.94 percent
Market cap: C$48.93 million
Share price: C$1.47

Helius Minerals is a precious metals exploration company with a portfolio of assets in Nevada and Brazil.

The company has spent the first part of the year fundraising in support of the acquisition of Colossus Minerals and its 75 percent stake in the Serra Pelada gold-platinum-palladium project in the Para state of Brazil.

In 2009, Colossus reported significant assay results following its early exploration of the site, with one drill hole returning 8.04 grams per metric ton (g/t) gold, 154.5 g/t platinum and 245.8 g/t palladium.

The company had already completed most of the construction for the underground mine in 2013 when its dewatering measures at the site failed to prevent water ingress in the mine. Colossus was not able to finance the work necessary to fix the issues and became insolvent, putting the mine on care and maintenance.

In 2023, Colossus’ former geologist Christian Grainger was named Helius President and CEO.

On May 8, Helius reported that Colossus shareholders approved the sale of the company and its assets. Under the terms of the deal, Helius said it has a 12 month exclusivity period to conduct financing and also to develop a plan that is compliant with local mining laws and regulations. It also stated that it will need to address outstanding debts and a rehabilitation strategy for the site.

Shares gained this week, but the company has not issued further news.

2. Labrador Gold (TSXV:LAB)

Weekly gain: 58.82 percent
Market cap: C$20.4 million
Share price: C$0.13

Labrador Gold is an explorer focused on the advancement of its assets in Newfoundland and Labrador, and Ontario, Canada.

The company owns the Hopedale gold project in Eastern Labrador. The site hosts 998 claims and five licenses covering an area of 249 square kilometers in the Florence Lake greenstone belt.

In an announcement on February 8, the company reported high-grade gold from 2023 rock samples at the Fire Ant target, with grades of up to 106 g/t gold and 20.4 g/t silver. Additional rock and soil samples from other targets at Hopedale show grades of up to 0.28 percent nickel, 0.97 percent zinc and 3,493 parts per million copper.

Labrador also owns the Borden Lake project near Timmins, Ontario. Exploration at the site has been limited, mainly consisting of till samples and geophysical surveys to target areas for drill testing.

In a news release on February 19, Labrador said it was planning to conduct exploration work at both properties in 2025. On June 19 the company announced that it had mobilized to the Hopedale property and would focus on an area along the Thurber Gold trend at the northern portion of the site. It did not provide an update on exploration at the Borden Lake.

The company has not released news in the past week.

3. Torq Resources (TSXV:TORQ)

Weekly gain: 52.94 percent
Market cap: C$21.37 million
Share price: C$0.13

Torq Resources is an exploration company working to advance its Santa Cecilia gold and copper project in Chile.

Torq acquired the property through an option agreement in October 2021. The company can earn a 100 percent stake in the property if it makes a total of US$25 million before October 21, 2028, and exploration expenditures of US$15.5 million by October 21, 2025.

The deal will also see the original owner retain a 3 percent net smelter return, half of which can be purchased by Torq based on the fair value of the project.

The site covers an area of 3,250 hectares and lies adjacent to the Newmont (TSX:NGT,NYSE:NEM) and Barrick Mining (TSX:ABX,NYSE:B) owned Norte Abierto project, the fourth largest undeveloped gold project in the world.

In late 2024, Torq entered into a joint venture with Gold Fields (NYSE:GFI), in which Gold Fields can earn up to a 75 percent indirect interest in the project through a US$48 million investment over six years, with minimum annual spending of US$6 million.

On July 17, Torq completed the first drill program at the project under the joint venture, The work consisted of five holes covering 4,062 meters and was designed to test the undrilled Gemelos Norte target and to follow up on the Pircas Norte target discovered during the 2024 drill campaign.

Torq’s most recent announcement came on July 31, when it terminated its option to acquire the Margarita project in Chile due to financial constraints and a shift in focus to Santa Cecilia. It also said it would retain its 100 percent interest in the La Cototuda concession, which is surrounded by Margarita and which it believes would be necessary for any future development at Margarita.

4. Happy Creek (TSXV:HPY)

Weekly gain: 41.18 percent
Market cap: C$18.45 million
Share price: C$0.12

Happy Creek Minerals is an explorer focused on advancing a portfolio of assets in British Columbia, Canada.

Its primary focus has been on its Fox tungsten property located in the South Caribou region of the province. It comprises 135.9 square kilometers of mineral tenure and hosts deposits containing tungsten, molybdenum, zinc, indium, gold and silver. In total, 21,125 meters of exploration drilling have been carried out at the site.

The most recent news came on July 16 when Happy Creek announced a non-brokered private placement to raise gross proceeds of up to C$3.25 million in flow-through units at C$0.07 per share and non-flow-through units at C$0.05 per share. The following day, Happy Creek upsized the offering to C$3.75 million.

The company plans to use the gross proceeds for drilling, exploration and development at Fox, as well as other exploration work in the Caribou.

5. Star Copper (TSXV:STCU)

Weekly gain: 38.78 percent
Market cap: C$58.81 million
Share price: C$2.04

Star Copper is an exploration company with a portfolio of assets in British Columbia.

Its flagship Star project, located in BC’s Golden Triangle, consists of 19 mineral claims covering an area of 6,829 hectares of crown lands. The property hosts five high-priority targets, which have seen exploration dating back to 2013.

The most recent exploration update from Star came on Tuesday, when the company provided a summary of its ongoing drill program at the site and said it was halfway through a six-hole, 4,000 meter drill campaign designed to test mineralized zones laterally and at depth.

The company has also been advancing work at its Indata property, where it holds a 60 percent optioned interest. The site in northern BC consists of 16 mineral claims across 3,189 hectares and hosts mineralization of copper, gold and molybdenum.

In a July 10 news release, the company reported that soil grids that were deployed to test for gold and copper have also returned clusters of anomalous antimony that exceed 100 parts per million over 5 kilometers.

Additionally, the company announced on July 16 that it had entered into an agreement to acquire a 100 percent interest in the Copperline property in North-central BC. The project consists of eight mineral claims covering 4,502 hectares and exploration at the site has produced a highlighted assay of 2.54 percent copper, 50.4 g/t silver over 25 meters.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of February 2025, there were 1,572 companies listed on the TSXV, 905 of which were mining companies. Comparatively, the TSX was home to 1,859 companies, with 181 of those being mining companies.

Together the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

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

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

This post appeared first on investingnews.com

The U.S. Office of Special Counsel (OSC) is investigating former special counsel Jack Smith, the OSC has confirmed to Fox News.

Smith was tapped in 2022 by then-Attorney General Merrick Garland to serve as special counsel regarding two probes pertaining to then-former President Donald Trump.

The OSC is investigating Smith for allegedly violating the Hatch Act, which bars government employees from partaking in political activities. It is not a criminal investigation. 

Fox News Digital reached out to the White House for comment on Saturday, but did not receive a response.

The OSC is not the same as a special counsel appointed by an attorney general, as Smith was, but ‘is an independent federal investigative and prosecutorial agency,’ according to its website. 

‘OSC’s statutory authority comes from four federal laws: the Civil Service Reform Act, the Whistleblower Protection Act, the Hatch Act, and the Uniformed Services Employment & Reemployment Rights Act (USERRA),’ the website explains.

Republican Sen. Tom Cotton of Arkansas recently asked the OSC to look into whether Smith illegally engaged in political activity to influence the 2024 election against Trump.

‘I write requesting the Office of Special Counsel to investigate whether Jack Smith, Special Counsel for Attorney General Merrick Garland, unlawfully took political actions to influence the 2024 election to harm then-candidate President Donald Trump,’ Cotton wrote in a July 30 letter to Acting Special Counsel Jamieson Greer.

‘President Trump of course vanquished Joe Biden, Jack Smith, every Democrat who weaponized the law against him, but President Trump’s astounding victory doesn’t excuse Smith of responsibility for his unlawful election interference. I therefore ask the Office of Special Counsel to investigate whether Jack Smith or any members of his team unlawfully acted for political purposes,’ Cotton wrote.

Fox News’ David Spunt contributed to this report.

This post appeared first on FOX NEWS

Private equity-backed insurers are intensifying their presence in the UK’s booming pension risk-transfer market, securing deals worth $10.7 billion in just the past month.

As British corporations continue to shed defined-benefit pension liabilities to refocus on core business activities, the £1.4 trillion ($1.8 trillion) sector has become a lucrative target for global asset managers such as Brookfield Corp. and Apollo Global Management Inc.

Strategic acquisitions signal growing appetite

Brookfield Wealth Solutions (BWS), led by executive Sachin Shah, has made a bold entry into the market by acquiring London-listed Just Group Plc at a 75% premium.

The firm plans to merge Just with its newly approved UK insurance arm, Blumont, and target up to £50 billion in annual pension buyouts.

This strategy aims to surpass established players like Legal & General Group Plc, which plans to write £65 billion in buyouts by 2028.

Meanwhile, Apollo-backed Athora has acquired Pension Insurance Corp., a significant player previously backed by investors including billionaire Johann Rupert’s investment vehicle, HPS Investment Partners, CVC Capital Partners, and a unit of Abu Dhabi Investment Authority.

Blackstone Inc. has also entered the fray, announcing a partnership with L&G to originate private credit investments tailored for annuities.

These moves come amid projections by consulting firm LCP that demand for pension risk transfers could reach £500 billion by 2033, creating vast opportunities for alternative asset managers seeking recurring fees and new channels for deploying capital in private credit and infrastructure.

Regulatory scrutiny amid growing market risks

Despite investor enthusiasm, UK regulators are expressing concerns over the broader systemic risks associated with the trend.

The Bank of England’s Prudential Regulation Authority (PRA) has warned that the rising practice of reinsuring pension liabilities with overseas or private equity-linked firms may increase financial vulnerability.

In particular, the PRA is monitoring scenarios in which a downturn in PE-backed assets could erode solvency ratios and trigger reinsurance contract terminations, forcing insurers to reabsorb risk and sell assets at depressed prices, a potentially destabilizing “recapture” event.

The concern is further amplified by growing regulatory unease over the suitability of private equity ownership for the life insurance sector, given the long-term nature of insurance liabilities and the relatively short-term investment horizons of PE firms.

The 2023 collapse of Cinven-backed Eurovita, an Italian life insurer, has further fueled scrutiny after it failed to meet solvency requirements during a period of bond market volatility.

The Bank of England is expected to release the results of a stress test later this year to evaluate insurers’ exposure to such risks.

Long-term outlook: beyond pensions

Although the defined-benefit pension space is expected to peak in the next decade, alternative asset managers are eyeing longer-term opportunities in the broader life insurance market.

According to Moody’s Ratings analyst Will Keen-Tomlinson, growth segments such as retail annuities could offer ongoing potential even as corporate pension risk transfers decline.

UK Chancellor Rachel Reeves has publicly welcomed the entry of Brookfield and Athora into the market, calling it a sign of investor confidence in the UK economy.

With the confluence of competitive pressure and increasing regulatory oversight, the market is poised for continued evolution — and potentially more consolidation.

The post Private equity giants accelerate push into UK pension risk-transfer market appeared first on Invezz

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THE UNITED STATES

Quimbaya Gold Inc. (CSE: QIM,OTC:QIMGF) (OTCQB: QIMGF) (FSE: K05) (‘Quimbaya’ or the ‘Company’) announces that Denarius Metals Corp. has elected to terminate the binding Letter of Intent (the ‘LOI’) previously announced on May 7, 2025. The LOI contemplated the formation of a 50:50 joint venture to advance the formalization of artisanal mining at Quimbaya’s Tahami Project in the Segovia District of Colombia.

Quimbaya thanks Denarius for the time and consideration given to this opportunity. While the parties were unable to reach a definitive agreement, the Company appreciates the constructive dialogue and shared interest in advancing responsible development in one of Colombia’s most prolific gold regions.

Quimbaya retains 100% ownership of the Tahami Project, including the drill-ready Tahami South. The Company remains focused on executing its fully funded 2025-2026 exploration program, which includes a 4,000-meter drill campaign scheduled to commence at Tahami South soon.

In parallel, Quimbaya will continue to pursue alternative structures to support the formalization of artisanal mining in the region, aligning with its long-standing commitment to responsible mining, inclusive economic participation, and strong community engagement.

‘This is a strategically important district, and we remain confident in both the geological potential of Tahami and the strength of our position,’ said Alexandre P. Boivin, Chief Executive Officer. ‘Our exploration plans are on track, and we continue to evaluate opportunities that can responsibly advance the project and generate long-term value for all stakeholders.’

About Quimbaya
Quimbaya aims to discover gold resources through exploration and acquisition of mining properties in the prolific mining districts of Colombia. Managed by an experienced team in the mining sector, Quimbaya is focused on three projects in the regions of Segovia (Tahami Project), Puerto Berrio (Berrio Project), and Abejorral (Maitamac Project), all located in Antioquia Province, Colombia.

Contact Information

Alexandre P. Boivin, President and CEO apboivin@quimbayagold.com 

Sebastian Wahl, VP Corporate Development swahl@quimbayagold.com

Quimbaya Gold Inc.
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Cautionary Statements

Certain statements contained in this press release constitute ‘forward-looking information’ as that term is defined in applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, but not always, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’, ‘expects’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. Forward-looking statements herein include statements and information regarding the Offering’s intended use of proceeds, any exercise of Warrants, the future plans for the Company, including any expectations of growth or market momentum, future expectations for the gold sector generally, the Colombian gold sector more particularly, or how global or local market trends may affect the Company, intended exploration on any of the Company’s properties and any results thereof, the strength of the Company’s mineral property portfolio, the potential discover and potential size of the discovery of minerals on any property of the Company’s, including Tahami South, the aims and goals of the Company, and other forward-looking information. Forward-looking information by its nature is based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Quimbaya to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These assumptions include, but are not limited to, that the Company’s exploration and other activities will proceed as expected. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: future planned development and other activities on the Company’s mineral properties; an inability to finance the Company; obtaining required permitting on the Company’s mineral properties in a timely manner; any adverse changes to the planned operations of the Company’s mineral properties; failure by the Company for any reason to undertake expected exploration programs; achieving and maintaining favourable relationships with local communities; mineral exploration results that are poorer or better than expected; prices for gold remaining as expected; currency exchange rates remaining as expected; availability of funds for the Company’s projects; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; the Offering proceeds being received as anticipated; all requisite regulatory and stock exchange approvals for the Offering are obtained in a timely fashion; investor participation in the Offering; and the Company’s ability to comply with environmental, health and safety laws. Although Quimbaya’s management believes that the assumptions made and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. Readers are cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Quimbaya as of the date of this news release and, accordingly, is subject to change after such date. Except as required by law, Quimbaya does not expect to update forward-looking statements and information continually as conditions change. 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261086

News Provided by Newsfile via QuoteMedia

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SAN FRANCISCO — Apple on Thursday reported sales and profit that far surpassed expectations, showing that its efforts to re-route its sprawling global supply chain away from U.S. President Donald Trump’s trade war have so far succeeded.

Apple said it earned $94.04 billion in revenue for its fiscal third quarter ended June 28, up nearly 10% from a year earlier and beating analyst expectations of $89.54 billion, according to LSEG data. Its earnings per share of $1.57 per share topped expectations of $1.43 per share.

Sales of iPhones, the Cupertino, California, company’s best-selling product, were up 13.5% to $44.58 billion, beating analyst expectations of $40.22 billion.

Apple has been shifting production of products bound for the U.S., sourcing iPhones from India and other products such as Macs and Apple Watches from Vietnam. Still, the company had warned investors that U.S. tariffs could cost it $900 million in the fiscal third quarter, and it trimmed its annual share buyback program by $10 billion, a move analysts viewed as helping to free up cash to remain nimble in uncertain times.

The ultimate tariffs many Apple products could face remain in flux, and many of its products are currently exempt. Sales in its Americas segment, which includes the U.S. and could face tariff impacts, rose 9.3% to $41.2 billion.

In an interview with Reuters, Apple CEO Tim Cook said the company set seasonal records for upgrades of iPhones, Macs, and Apple Watches. He said Apple estimates about 1 percentage point of its 9.6% of sales growth in the quarter was attributable to customers making purchases ahead of potential tariffs.

“We saw evidence in the early part of the quarter, specifically, of some pull-ahead related to the tariff announcements,” Cook told Reuters, though he also said the active user base for iPhones hit a record high in all geographies.

The U.S. is still negotiating with both China and India, with Trump saying India could face 25% tariffs as early as Friday. However, analysts said India could still retain cost advantages for Apple in the longer term.

Tariffs are only one of Apple’s challenges. The company faces competition from rivals such as Samsung in a tough market for premium-priced mobile phones. On the software front, Apple faces challenges from Alphabet, which is quickly weaving AI features into its competing Android operating system.

Apple has delayed the release of an AI-enriched version of Siri, its virtual assistant, but Cook said the company is “making good progress on a personalized Siri.” He also said Apple, which has thus far not engaged in the massive capital expenditures of its Big Tech rivals to pursue AI, is “significantly growing” its investments in artificial intelligence.

“Apple has always been about taking the most advanced technologies and making them easy to use and accessible for everyone, and that’s at the heart of our AI strategy,” Cook said.

Apple faces regulatory rulings in Europe that threaten to undermine its lucrative App Store business. Apple said sales from its services business, which includes the App Store as well as music and cloud storage, were $27.42 billion, topping analyst expectations of $26.8 billion.

Sales of wearables such as AirPods and Apple Watches were $7.4 billion, missing estimates of $7.82 billion. Mac sales of $8.05 billion beat expectations of $7.26 billion, while iPads hit $6.58 billion in sales, missing expectations of $7.24 billion.

In Greater China, where Apple has faced long delays in approval to introduce AI features on its devices, sales were $15.37 billion, up from a year ago and above expectations of $15.12 billion, according to a survey of five analysts from data firm Visible Alpha.

Apple said gross margins were 46.5%, beating analyst expectations of 45.9%, according to LSEG estimates.

This post appeared first on NBC NEWS

Iran still has the capabilities to enrich uranium — despite U.S. and Israeli strikes — and could restart its nuclear program if it wanted to, Tehran’s foreign minister claimed. 

While the U.S. struck three key Iranian nuclear sites, Israel destroyed much of its air defenses, took out top military commanders and killed at least 13 nuclear scientists and more than 1,000 people, according to figures put out by Tehran. Israel claims it killed 30 senior security officials and 11 top nuclear scientists. 

‘Buildings can be rebuilt. Machines can be replaced, because the technology is there. We have plenty of scientists and technicians who used to work in our facilities,’ Foreign Minister Abbas Araghchi said in a recent interview with the Financial Times. 

‘But when and how we restart our enrichment depends on the circumstances.’

Washington maintains that it inflicted significant damage to Iran’s two main uranium enrichment sites, Fordow and Natanz, and fired missiles that rendered the Isfahan facility essentially inoperable, setting Iran’s nuclear program back ‘years.’ 

Now, the world is watching to see whether Iran and the West will be able to come to a deal that ensures Iran does not work towards a nuclear weapon in exchange for sanctions relief. 

Araghchi said the U.S. must offer funds to Iran to compensate for last month’s strikes in order to move forward with negotiations. 

‘They should explain why they attacked us in the middle of . . . negotiations, and they have to ensure that they are not going to repeat that [during future talks],’ Araghchi said. ‘They have to compensate [Iran for] the damage that they have done.’

Araghchi claimed the so-called 12-Day War ‘proved there is no military solution for Iran’s nuclear program.’

Araghchi also said the strikes had prompted calls from within the regime to weaponize Iran’s nuclear program but claimed Iran would continue to abide by a two-decade-old fatwa banning the production of nuclear weapons. 

‘Anti-negotiation feelings are very high,’ Araghchi said. ‘People are telling me, ‘Don’t waste your time anymore, don’t be cheated by them . . . if they come to negotiations it’s only a cover-up for their other intentions.’’

The minister repeated Iran’s insistence that it would not give up its ability to enrich uranium for civil purposes — a sticking point for Washington. ‘With zero enrichment, we don’t have a thing.’ 

The White House could not immediately be reached for comment on Araghchi’s remarks. 

Israeli officials have admitted that some of Iran’s stockpile of highly enriched uranium did survive the attacks.  

European powers have threatenaed to trigger ‘snapback’ United Nations sanctions against Iran if there isn’t a breakthrough in nuclear talks.

Any of the current members of the 2015 nuclear deal, Joint Comprehensive Plan of Action — France, the UK, Germany, China, and Russia –  can invoke the snapback mechanism if they determine Iran hasn’t held up its end of the deal. The U.S. can’t trigger the sanctions because it pulled out of the deal and enacted unilateral ‘maximum pressure’ sanctions under Trump’s first administration. 

The U.S. heaped more pressure onto Tehran this week with new sanctions on the nation’s oil network and military drone enterprise. 

European diplomats have been meeting with Iran to relay how it could avoid snapback sanctions, including resuming cooperation with the International Atomic Energy Agency (IAEA) to monitor its compliance with nuclear limits. 

Araghchi said Iran would stop negotiating with Europe if they were to trigger the sanctions. ‘If they do snap back, that means that this is the end of the road for them.’  

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Asian currencies dropped sharply on Friday, with South Korea’s won and Malaysia’s ringgit suffering the steepest declines, as US President Donald Trump announced sweeping new tariffs on imports from dozens of trading partners.

The move sparked a retreat from riskier regional assets, highlighting investor anxiety about the direction of global trade policy.

The South Korean won weakened 0.69% to 1,401.53 per dollar, its lowest level in more than two months, while the ringgit shed 0.5% to hit its weakest mark since late June.

Both currencies are poised for their worst weekly performance since early 2024.

Doubts over South Korea’s reform agenda

Currency pressure in South Korea was exacerbated by domestic concerns after the government proposed reversing recent tax cuts.

Investors took the move as a signal that Seoul may be retreating from its push to reduce the so-called “Korea Discount” — a chronic undervaluation of South Korean equities relative to peers due to governance and policy concerns.

The benchmark KOSPI index tumbled 3.5% on the day.

Elsewhere in Asia, the Taiwan dollar and Thai baht declined more than 0.3%, while the Philippine peso recovered from earlier six-month lows to end the session flat.

The MSCI emerging market currency index fell more than 1% this week, snapping a six-month rally that had extended into July.

Trump’s tariffs shake trade outlook

The sell-off came after Trump signed executive orders late Thursday imposing new import duties ranging from 10% to 41% using emergency powers. India faces 25% tariffs on key exports to the US, while Taiwan was hit with 20%.

Malaysia and Thailand were levied at 19%, and South Korea secured a reduced 15% rate after last-minute negotiations.

“Tariff rates settling at 15-20% for most of the region outside of China will hurt producers, narrow profit along the supply chain and curtail US demand,” said Alex Holmes, regional director for Asia Pacific at EIU, noting that core emerging market countries with stronger fundamentals are expected to prove more resilient than frontier economies.

The tariffs are the latest in a series of moves that have heightened tensions between the US and its Asian trading partners.

Analysts said that while many in the region had prepared for a protectionist pivot, the broad and aggressive nature of the tariffs adds a new layer of complexity.

Central banks and trade partners brace for fallout

The US dollar rose broadly on the back of the announcement, gaining 0.3% on Friday and pushing the dollar index up 2.5% for the week — its strongest weekly showing in two months.

Regional stock markets posted mixed reactions: while Malaysia’s Bursa and Indonesia’s Composite Index each rose over 1%, likely buoyed by optimism over existing U.S. agreements, the reaction elsewhere was more muted.

Central bank responses are now in focus.

While the Monetary Authority of Singapore and Bank of Japan kept policy unchanged, India’s central bank meets next week, and Thailand’s decision is due shortly.

Analysts at Barclays expect the Reserve Bank of India to pause dovishly before moving toward rate cuts in October.

“A number of emerging market central banks appear to be shifting toward a more accommodative stance,” with India expected to deliver “a dovish pause” before likely cutting rates in October, Barclays analysts said.

Lorraine Tan of Morningstar said the revised tariff schedule was largely in line with expectations and would not significantly impact regional markets.

However, she and her colleagues noted that the delay in a final US-China trade deal, despite multiple negotiation rounds, raises questions about underlying progress.

“We think the new 90-day extension between China and US may be viewed as headwind by investors given that a framework seemed to be already in place for the last 3 months amid multiple rounds of negotiations,” Morningstar’s Asia equity market strategist Kai Wang said in the same Friday note.

“The extension is signaling that there may be some snags in talks which have the potential to fall apart entirely given that Trump is still indirectly targeting China through transshipping and other loopholes,” Wang said, adding that the performance of the Hang Seng Index and the CSI 300 index in the last two days largely supported this thesis.

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Nickel prices have experienced much volatility in the past few years due to uncertainty on both the demand and supply sides.

This trend has continued into 2025, and is expected to remain for the year. While this environment has been tough, some nickel stocks are still thriving amid the ongoing uncertainty.

Supply is expected to outflank demand over the short term, but the longer-term outlook for the metal is strong. Demand from the electric vehicle (EV) industry is one reason nickel’s outlook looks bright further into the future.

Battery nickel demand is poised to triple by 2030, according to Benchmark Mineral Intelligence.

“Mid and high level performance EVs will be the primary driver of battery nickel demand growth in the coming years, particularly in Western markets,” said Jorge Uzcategui, senior nickel analyst at the firm. “There will be growth in China, but it won’t be as pronounced as in ex-China markets.”

As for Canada, nickel is listed as a top priority in the government’s Critical Minerals Strategy. The country is the world’s fourth largest producer of nickel, with much of its production coming from mines in Ontario’s Sudbury Basin, including Vale’s (NYSE:VALE) Sudbury operation and Glencore’s (LSE:GLEN,OTC Pink:GLCNF) Sudbury Integrated Nickel Operations.

Many Canadian-listed resource companies also have important projects in the United States. While the US is only the 9th largest nickel producing country, the metal is listed on the nation’s Critical Minerals List and the government is keen on increasing its domestic production of nickel even if it means funding projects operated by Canadian nickel companies.

Against that backdrop, how have Canadian nickel stocks performed in 2025? Below are the top nickel stocks in Canada on the TSX, TSXV and CSE by share price performance so far this year.

All year-to-date and share price data was obtained on July 21, 2025, using TradingView’s stock screener. Canadian nickel stocks with market caps above C$10 million at that time were considered.

1. Talon Metals (TSX:TLO)

Year-to-date gain: 205.88 percent
Market cap: C$239.45 million
Share price: C$0.26

Talon Metals is focused on developing high-grade nickel resources for the US domestic battery supply chain. The company has partnered with mining giant Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) on the Tamarack nickel-copper project located in Minnesota, US. Talon has an earn-in right to acquire up to 60 percent of Tamarack and currently owns 51 percent.

An environmental review process is underway for the proposed Tamarack underground mine. The company plans to process ore from the mine at a proposed battery mineral processing facility in North Dakota. Talon has said it intends to initiate the permitting process for the processing facility in 2025.

Talon has a six year offtake deal with Tesla (NASDAQ:TSLA) set to commence once Tamarack enters commercial production, for a total of 75,000 metric tons, or 165 million pounds, of nickel concentrate, as well as cobalt and iron by-products, from Tamarack once it’s in commercial production.

The company is also the operator of the Boulderdash nickel-copper discovery and numerous high-grade nickel-copper prospects in Michigan, which it optioned to Lundin Mining (TSX:LUN,OTC Pink:LUNMF) in early March.

Talon has made multiple significant discoveries at Tamarack in 2025 that supported its share price. In late March, the company announced a significant massive sulfide discovery at Tamarack with an intercept measuring over 8.25 meters logged as 95 percent sulfide content.

After starting Q2 at C$0.12, Talon’s share price took off in earnest after the May 12 news of another massive sulfide discovery with this one measuring a cumulative 34.9 meters over 47.33 meters in total length starting at a depth of 762.34 meters — the thickest in the project’s history.

On June 5, Talon reported record assays from the new discovery at Tamarack, with the 34.9 meter intercept grading 57.76 percent copper equivalent or 28.88 percent nickel equivalent. Later that month, the company completed a C$41 million financing, with proceeds to be used to advance Tamarack.

After climbing through Q2, Talon shares hit a year-to-date high of C$0.28 on July 2.

2. Homeland Nickel (TSXV:SHL,OTCQB:SRCGF)

Year-to-date gain: 140 percent
Market cap: C$13.38 million
Share price: C$0.06

Homeland Nickel has a portfolio of nickel projects in Oregon, US: Red Flat, Cleopatra, Eight Dollar Mountain and Shamrock. Previously named Spruce Ridge Resources, the company changed its name in mid-2024 in a vertical amalgamation after acquiring Homeland Nickel, which owned the Red Flat and Cleopatra nickel projects.

Benton Resources (TSXV:BEX) completed an earn-in agreement for a 70 percent interest in Homeland’s Great Burnt copper and South Pond gold projects in Newfoundland, Canada, last year.

In addition, the company holds investments in mining companies with nickel projects, including Benton Resources Canada Nickel Company (TSXV:CNC,OTCQX:CNIKF), Noble Mineral Exploration (TSXV:NOB,OTCQB:NLPXF) and.

Shares in Homeland Nickel reached their year-to-date high of C$0.07 a few times this year between March 18 to April 16.

In early April, the company released an exploration update for its properties. At its Oregon nickel properties, a bulk sample program is being planned at Red Flats, an exploration program is planned for this year at Shamrock and a sampling program was upcoming at Eight Dollar Mountain.

On July 17, Homeland shared results from its Eight Dollar Mountain sampling program, with assays indicating the presence of nickel laterite in values ranging from 0.21 percent to 2.21 percent nickel with an average of 0.67 percent nickel across 56 samples.

3. Stillwater Critical Minerals (TSXV:PGE)

Year-to-date gain: 91.67 percent
Market cap: C$53.61 million
Share price: C$0.23

Stillwater Critical Minerals’ flagship asset is its Stillwater West polymetallic project in Montana, US. In addition to the platinum-group elements, copper, cobalt and gold resources identified on the property, a January 2023 inferred mineral resource estimate on Stillwater West shows it has the largest nickel resource in an active US mining district.

In late March, the company reported multiple large-scale magmatic sulfide targets following analysis of a property-wide third-party MobileMtm magneto-telluric geophysical survey completed in late 2024.

The data from the survey was also used to build a new 3D geological model of the lower Stillwater Igneous Complex that the company used to further prioritize targets at Stillwater West for its 2025 drill campaign.

Stillwater Critical Minerals’ share price reached a year-to-date high of C$0.28 on June 2.

Drill rigs were mobilized in mid-June for the company’s 2025 drill program Stillwater West project, which aims to expand drill-defined high-grade sulfide mineralization in its advanced project areas and test priority targets identified with its earlier geophysical survey. The campaign will be conducted in collaboration with Glencore and technical partners ALS GoldSpot.

Stillwater competed a C$7 million financing in mid-July.

4. Magna Mining (TSXV:NICU)

Year-to-date gain: 32.96 percent
Market cap: C$345.71 million
Share price: C$1.80

Magna Mining is a base metals exploration and development company based in Sudbury, Ontario. The company’s key assets are the Crean Hill project and the formerly producing Levack and Shakespeare mines. In July, Magna also recently acquired a portfolio of projects including past-producing assets from NorthX Nickel (CSE:NIX).

Shakespeare is a past-producing nickel, copper and platinum-group metals mine with major permits in place. The property hosts an indicated open-pit resource of 16.51 million metric tons at 0.56 percent nickel equivalent. Crean Hill also hosts a past-producing mine that produced the same resources.

Magna’s share price started off the year at C$1.42, and gradually climbed throughout the following weeks to reach a year-to-date high of C$1.84 on February 5.

Its share price was supported by continued positive updates on its acquisition of a portfolio of base metals assets in the Sudbury Basin, including the producing McCreedy West copper-nickel mine, through a share purchase agreement with a subsidiary of KGHM Polska Miedz (FWB:KGHA). The company closed the deal at the end of February.

Magna was included in the 2025 TSX Venture 50 list, which was released in mid-February, and closed a C$33.5 million private placement in early March.

The Ontario government awarded Magna C$500,000 in funding for the Crean Hill project in late June from the Critical Minerals Innovation Fund.

At Levack, the company reported significant drill results in July, highlighting a 2.9 meter interval of high-grade mineralization that included a 0.6 meter interval grading 2.6 percent copper, 8.1 percent nickel and 17.8 grams per metric ton combined platinum, palladium and gold.

5. Power Metallic Mines (TSXV:PNPN)

Year-to-date gain: 23.85 percent
Market cap: C$303.04 million
Share price: C$1.35

Power Metallic Mines, formerly Power Nickel, is developing its 80 percent owned Nisk polymetallic property near Nemaska in Québec, Canada, which hosts high-grade nickel, copper, platinum, palladium, gold and silver mineralization.

The company was recognized as one of 2024’s top 50 performers on the TSX Venture Exchange, ranking as the top mining company and fourth overall company due to its 365 percent share price appreciation for the year.

Ongoing work at the Nisk project has generated positive news flow for Power Metallic in 2025. After starting the year at C$1.07, the company’s share price climbed to C$1.49 by January 30 following two key announcements.

First, the company released drill results from a 2024 fall campaign at Nisk’s Lion zone and said it was starting a winter 2025 drill campaign at the site. Shortly after, it announced the discovery of Tiger, a new find located 700 meters east of the Lion zone; it said it would target Tiger during winter drilling.

From there, Power Metallic shares jumped more than 26 percent to reach C$1.88 on February 6, its year-to-date high. This followed further drill results out the 2024 fall campaign, with notable assays further demonstrating the high-grade nature of the mineralization.

Other notable news supporting the company’s share price in Q1 included the closing of a C$50 million private placement and plans to scale up the 2025 winter drill campaign from three to six rigs in the second quarter. Additionally, further results from the 2024 fall campaign expanded the Lion zone with the deepest assayed intersection to date, plus initial nickel-copper assays from the new Tiger zone.

While its share price trended downwards through mid-May, it began moving back up in the second half of Q2, during which time the company expanded the Nisk and Lion deposit areas with the acquisition of 167 square kilometers of claims from Li-FT Power (TSXV:LIFT,OTCQX:LIFFF).

In July, Power Metallic announced that its summer to fall drilling program was well underway, with four drill rigs targeting the Lion, Tiger and Nisk deposits.

FAQs for nickel investing

How to invest in nickel?

There are a variety of ways to invest in nickel, but stocks and exchange-traded products are the most common. Nickel-focused companies can be found globally on various exchanges, and through the use of a broker or a service such as an app, investors can purchase companies and products that match their investing outlook.

Before buying a nickel stock, potential investors should take time to research the companies they’re considering; they should also decide how many shares will be purchased, and what price they are willing to pay. With many options on the market, it’s critical to complete due diligence before making any investment decisions.

Nickel stocks like those mentioned above could be a good option for investors interested in the space. Experienced investors can also look at nickel futures.

What is nickel used for?

Nickel has a variety of applications, including stainless steel, coins and lithium-ion batteries. Its main use is an alloy material for products such as stainless steel, and it is also used for plating metals to reduce corrosion. As for coins, its uses include the 5 cent coin, named the nickel, in the US and Canada; the US nickel is made up of 25 percent nickel and 75 percent copper, while Canada’s nickel has nickel plating that makes up 2 percent of its composition.

Nickel is also used in certain lithium-ion battery compositions, bringing demand from sectors like electric vehicles and energy storage systems.

Where is nickel mined?

The world’s top nickel-producing countries are primarily in Asia: Indonesia, the Philippines and Russia make up the top three. Rounding out the top five are Canada and China. Indonesia’s production stands far ahead of the rest of the pack, with 2024 output of 2.2 million metric tons compared to the Philippines’ 330,000 metric tons and Canada’s 190,000 metric tons.

Significant nickel miners include Norilsk Nickel (MCX:GMKN), Nickel Asia, BHP (ASX:BHP,NYSE:BHP,LSE:BHP) and Glencore.

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

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The Canadian province of Ontario has canceled a C$100 million ($68.12 million) satellite high-speed internet contract with Elon Musk’s company Starlink, following through with a vow by the province’s premier to cut ties in retaliation for U.S. tariffs imposed on Canada.

Stephen Lecce, Ontario’s minister of energy and mines, confirmed the cancellation of the contract for internet services at an unrelated news conference in Toronto on Wednesday. Lecce, who oversees broadband connectivity in Canada’s most populous province, didn’t say how much the termination would cost.

“I can confirm that the premier has fulfilled his word, which is to cancel that contract because of the very reasons he cited in the past,” Lecce said. “We are standing up for Canada.”

Under the terms of the deal, which Ontario signed last November, Starlink was to provide high-speed internet access to 15,000 eligible homes and businesses in more remote communities.

In February, Ontario Premier Doug Ford threatened to end the agreement with Starlink in response to U.S. President Donald Trump imposing tariffs on Canadian goods. He later postponed the cancellation after Trump agreed to a 30-day pause on tariffs.

SpaceX, Starlink’s parent, did not immediately respond to a request for comment.

Musk headed Trump’s drive to shrink the federal government and was a close ally before falling out with the president.

Canada and the U.S. are working on negotiating a trade deal by August 1, the date Trump is threatening to impose a 35% tariff on all Canadian goods not covered by the U.S.-Mexico-Canada trade agreement.

Earlier this week, Canadian Prime Minister Mark Carney said talks were at an intense phase while reiterating that a deal that would remove all U.S. tariffs was unlikely.

Lecce said Ontario has taken other measures against the U.S., including restricting the ability of U.S. companies to bid on provincial government contracts, removing U.S.-made alcoholic beverages from store shelves and working to decouple the province’s energy sector from the U.S.

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