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Is the market’s next surge already underway? Find out with Tom Bowley’s breakdown of where the money is flowing now and how you can get in front of it.

In this video, Tom covers key moves in the major indexes, revealing strength in transports, small caps, and home construction. He identifies industry rotation signals, which are pointing to aluminum, recreational products, and furnishings. Tom then demonstrates how to use StockCharts’ tools to scan for momentum stocks in emerging leadership groups — see why SGI tops Tom’s list. He ends with a discussion of post-earnings reactions from major names like GOOGL, TSLA, IBM, and LVS. 

And, of course, Tom wraps every idea with clear chart setups you can act on today. 

This video premiered on July 24, 2025. Click this link to watch on Tom’s dedicated page.

Missed a session? Archived videos from Tom are available at this link.

The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

The copper price was volatile during the second quarter of 2025, but remained elevated compared to the price point near the start of the year.

Several factors were at play for copper during the second quarter, most notably the ongoing threat of tariffs on several sectors with close ties to the red metal. This also caused significant fallout in global financial sectors, with economists early in the quarter raising the spectre of a widespread recession.

Uncertainty, fear, and speculation were primary price drivers as metal traders, market movers, and investors tried to determine the best investment strategy against the backdrop of a chaotic economic landscape.

What moved the copper price?

Copper started the quarter in freefall.

After reaching an all-time high of US$5.22 per pound on the COMEX on March 26, the price plummeted to US$4.06 on April 8. Although it wouldn’t stay there long, by April 11, it had climbed back above US$4.50 and continued to US$4.88 on April 22.

Copper price chart, April 01 to July 23, 2025

via TradingEconomics

From the end of April, all of May and much of June, the copper price was volatile but range-bound, trading between US$4.50 and US$4.80.

However, the end of June saw a surge in momentum in the market, as the price began to climb, and on June 30, it reached US$4.97 per pound.

Since then, the price has soared. Setting a new all-time high of US$5.65 per pound on July 10.

Supply and demand by the numbers

Over the past few years, a growing imbalance has developed in the copper market, as demand growth has outpaced the expansion of primary and secondary supply lines.

According to a June 24 press release, data from the International Copper Study Group (ICSG) showed a 3.2 percent growth in refined production, with a combined gain of 4.8 percent from China and the Democratic Republic of the Congo (DRC), the two largest producers globally. Further increases came from Asia, where output was 3.5 percent higher.

The increased levels were offset by Chile, where smelter output fell 9.5 percent, due to smelter maintenance shutdowns.

However, the refined production outpaced mining production, which rose just 2 percent during the period. Peru accounted for a 5 percent year-over-year growth due to increased output at MMG’s (OTC Pink:MMLTF) Las Bambas, Anglo American (LSE:AAL,OTC Pink:AAUKF,OTC:NGLOY) and Mitsubishi’s (OTC Pink:MIMTF) Quellaveco and Chinalco Mining’s (OTC Pink:ALMMF) Toromocho mines.

Likewise, production in DRC surged by 8 percent, attributable to the expansion of the Ivanhoe Mines (TSX:IVN,OTC:IVPAF) and Zijin Mining’s (OTC Pink:ZIJMF,HKEX:2899,SHA:601899) joint venture Kamoa-Kakula mine.

Demand continued to grow at a higher rate than refined output during the first quarter of 2025, with the ICSG suggesting a 3.3 percent increase in copper usage.

The largest segment came from Chinese markets, which required 6 percent more copper than in 2024, but this demand occurred during an 11 percent decline in net refined imports into the country. China is the world’s largest consumer of copper, accounting for approximately 58 percent of global demand.

Outside of China, demand was essentially flat, with high demand from Asian, Middle Eastern and North African countries being offset by weak demand in Europe and North America.

Overall, the data provided by the ICSG indicated a 233,000 metric ton surplus of refined copper through the first four months of 2025, a slight decrease from the 236,000 metric tons during the same period in 2024.

Outside the numbers

“Yes, we believe we have moved into a supply deficit in 2025 and that the market is currently in deficit. Uncertainties in the financial markets (trade, growth and inflation) have had a negative impact on copper demand, but this has been offset as copper is becoming less tied to global economic growth and more tied to industries that provide structural growth to the market,” he said.

White went on to explain that AI data centers, emerging economies and the energy transition are all putting increased stress on copper supply.

Furthermore, the supply outlook was not expected to keep pace with demand this year. Q1 2025 mined copper production has indicated low production, and the copper supply outlook for this year has already worsened with the first major disruption of the year,” he added.

The shutdown referred to by White was at the Ivanhoe-Zijin Kakula-Kamoa mine in the DRC.

Ivanhoe reported a temporary interruption of underground mining at the Kakula mine on May 2. The company cited seismic activity and initiated a partial shutdown of operations at phase 1 and 2 concentrators, utilizing surface stockpiles.

Operations at the mine were suspended until June 11, when the company announced it had initiated a restart. It also stated that it was slashing production guidance by 28 percent due to the impact, with the revised number falling between 370,000 and 420,000 metric tons, down from the previous range of 520,000 to 580,000 set in January.

The difference in guidance accounts for more than half of the projected surplus in the ICSG report, demonstrating just how tight the copper market has become.

The Trump effect

Volatility has been present since the start of the year, with much of it attributed to uncertainty stemming from an ever-shifting US trade policy under President Donald Trump.

Commodity prices plummeted at the start of the second quarter, with copper losing 22 percent between its quarterly high of US$5.22 on March 26 and April 8, when it fell to US$4.06.

The drop came alongside the fallout from the “Liberation Day” tariffs Trump announced on April 2, which applied a 10 percent baseline tariff to imports into the United States from all but a handful of countries. It also threatened the imposition of more significant retaliatory tariffs to take effect on April 9.

Additionally, the United States initiated a tit-for-tat tariff war with China in early April, starting with a 34 percent tariff on Chinese imports, which quickly rose to 145 percent on Chinese imports and 125 percent on US exports to China.

The effect of the tariffs caused significant declines in major US indices, with the Dow losing 9.5 percent, the S&P 500 shedding 10 percent, and the Nasdaq losing 11 percent in two days. More than $6 trillion was wiped from the markets over two days, the most significant such loss in history.

More importantly, the uncertainty seeped into the US bond markets, causing yields on the 10-year Treasury to rise sharply to 4.49 percent as investors began to dump US bonds. The rising rates came as China and Japan both sold holdings back into the market in an attempt to counter Trump’s trade plans.

The combined effect led analysts to suggest that a recession was imminent, prompting broad sell-offs in the commodity markets as traders worked to dispose of stockpiles of high-value inventories.

Copper is susceptible to recessions due to its wide range of applications, which are heavily dependent on consumer spending.

Ultimately, a sliding stock market and spiking bond yields prompted Trump to announce a 90-day pause on the retaliatory tariffs, stating that it would allow countries to come to the table and negotiate a deal with the United States.

Although the rout of the copper market was short-lived, it demonstrated the push-pull that tariffs and trade policy can have on copper prices.

In February, Trump signed an executive order which invoked section 232 of the Trade Expansion Act to initiate an investigation into the impact of copper imports on all forms of national security.

In the order, Trump noted that while the US has ample copper reserves, its smelting and refining capacity has declined. China has become the world’s leading supplier of refined copper, commanding a 50 percent market share.

“The supply and demand imbalance has recently been catalyzed with the US trade actions, where copper stocks have moved into the US on speculation that the Section 232 investigation into copper may result in a copper tariff,” White said.

He explained that the global inventory system has become fragmented. With the supply deficit, it has become increasingly difficult to source physical copper, resulting in drastically lower inventories on the London Metal Exchange (LME) and Shanghai Futures Exchange (SHFE).

The administration reached a decision early in the third quarter, and on July 8, Donald Trump announced a 50 percent tariff on all copper entering the United States.

The move caused prices on the COMEX to spike to record highs, triggering more panic buying among traders as they raced to transfer above-ground copper stocks into US-based facilities to avoid the additional tariff costs.

While ICSG hasn’t published numbers since May, it was already demonstrating then that significant stockpiles were being moved between international warehouses and the US. It reported that stocks at the LME had declined 122,900 metric tons from the start of the year, while stocks at the COMEX and SHFE had both posted gains of 80,970 metric tons and 31,619 metric tons, respectively.

“Copper is globally fungible. It’s like oil. The sanctions don’t work on Russian oil or Iranian oil, because it just flows around. Copper can do that, too. So it’s incorrect to think that a copper tariff, therefore, copper is up, and all copper stocks have to go up. If you’re a copper miner in Chile selling to China, then the US tariff has no direct bearing on your business whatsoever,” he said.

Tigre also explained that the US imports 50 percent of its copper needs, and there is no way that tariffs are going to fix that overnight.

“The mines just aren’t there. The help he’s (Trump) provided with permitting is highly relevant, and it has already helped; that’s okay. You get the permits, and then you have to build the mine, right? So it’ll be years before the incentives create more US production. Meanwhile, it’s Dr. Copper. It goes in everything, so consumers, manufacturers, everybody’s got this added cost,” he said.

Where does copper go next?

Beyond the tariffs, the fundamentals remain, as Tigre pointed out, the world is dependent on copper and demand for the red metal has been increasing faster than supply.

“There aren’t enough copper projects on the pipeline, not ones big enough to matter. So I’m extremely bullish on copper. All those reasons to be bullish on copper are still on the table in front of us, and when I first made the call, copper was around four bucks or something, and now, if we’re going there at five, almost six, and all that tailwind is stil to come and push it higher,” Tigre said.

While he remained positive on copper’s long-term outlook, he declined to say where the price would end up at the end of the year.

Even though copper may be one of the safer commodity bets owing to its staggering demand and low supply, investors should keep in mind the broad economic landscape when entering into a position with a metal that can change quickly with consumer spending.

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

This post appeared first on investingnews.com

Investor Insights

Rapidly emerging as Southeast Asia’s premier base and battery metals developer, Blackstone Minerals now holds two globally significant projects: the Ta Khoa nickel-cobalt project in Vietnam and the Mankayan copper-gold porphyry project in the Philippines. Both projects are critical to the company’s strategy to become a vertically integrated, low-cost, low-carbon producer of critical battery and base metals.

Overview

As the global economy accelerates toward net-zero emissions, the demand for critical minerals continues to rise, with nickel and copper positioned at the forefront of the energy transition. Historically used in stainless steel, nickel is now a core component in lithium-ion batteries; while copper, vital for electrification infrastructure, is similarly facing a looming supply crunch.

Blackstone Minerals (ASX:BSX,OTC:BLSTF,FRA:B9S) recognizes this strategic imperative and has positioned itself as a diversified, vertically integrated producer of low-cost, low-carbon battery and base metals.

Following its transformational merger with IDM International, Blackstone now controls two globally significant assets: the Ta Khoa nickel project in Vietnam and the Mankayan copper-gold project in the Philippines. Together, they represent a rare combination of scale, grade and strategic location in Southeast Asia, an increasingly vital region in the global clean energy supply chain.

The Mankayan copper-gold project is located in Northern Luzon, Philippines

The recently acquired Mankayan project adds substantial scale and diversification to Blackstone’s portfolio. One of the largest undeveloped copper-gold porphyry systems in Asia, Mankayan features over 56,000 meters of historical drilling and a resource of 793 million tonnes (Mt) at 0.756 percent copper equivalent (CuEq), including a high-grade core of 170 Mt at 1.049 percent CuEq. The project benefits from proximity to existing infrastructure and its location just 2.5 km from the operating Lepanto gold mine, owned and operated by Lepanto Consolidated Mining Company, and Far Southeast Gold Resources’ Far Southeast project.

The Ta Khoa project, meanwhile, includes both a past-producing underground nickel sulphide mine (Ban Phuc) and an advanced-stage refinery designed to produce battery-grade precursor cathode active material (pCAM). Vietnam’s low labor and energy costs, coupled with regulated power pricing and surging foreign direct investment, make it an ideal base for Blackstone’s vertically integrated strategy.

Blackstone is uniquely positioned to benefit from geopolitical tailwinds. Vietnam’s Free Trade Agreement with the European Union and the US Inflation Reduction Act are drawing significant interest from global partners and battery manufacturers. Meanwhile, the Philippines is undergoing a mining renaissance, with the government promoting foreign investment in responsible resource development. Mankayan has already been identified as a priority project by the Philippines’ Mines and Geosciences Bureau.

The company’s development strategy is underpinned by a commitment to ESG leadership. Blackstone is advancing renewable energy solutions for Ta Khoa via a direct power purchase agreement with Limes Renewables and is collaborating with Arca Climate Technologies to explore carbon capture through mineralization. At Mankayan, the company is focused on sustainable development in partnership with local communities.

Financially, Blackstone is well-capitalized to deliver on its dual-track growth plan. Following the merger with IDM, the company raised AU$22.6 million and holds AU$24.36 million in cash as of June 2025. The company’s experienced leadership team and strong partnerships provide a clear path to near-term value creation, as both projects progress toward definitive feasibility studies and long-term production.

Blackstone Minerals is now one of Southeast Asia’s leading battery and base metals developers, with a clear vision to supply responsibly sourced nickel and copper for the global energy transition.

Company Highlights

  • Diversified Portfolio: With Ta Khoa in Vietnam and Mankayan in the Philippines, Blackstone offers exposure to two critical and high-demand metal classes: nickel and copper-gold.
  • Strategic Southeast Asia Presence: Vietnam and the Philippines are emerging hubs for EV and mineral resource development, with robust government support and increasing foreign direct investment.
  • Infrastructure Advantage: Both projects benefit from existing infrastructure, including hydroelectric power, trained workforces, and government collaboration.
  • Sustainability Leadership: Blackstone is pursuing low-emission mining solutions through partnerships in renewable energy and carbon capture technologies.
  • Financially Strong: Blackstone raised AU$22.6 million post-merger, supporting an aggressive exploration and development strategy across both assets.

Key Project

Mankayan Copper-Gold Project – Philippines

Following its merger with IDM International, Blackstone now owns a 64 percent effective interest in the world-class Mankayan copper-gold project through Crescent Mining Development. Located in the prolific mineral belt of Northern Luzon, Philippines, Mankayan is one of Asia’s largest undeveloped copper-gold porphyry systems. It lies approximately 340 km from Manila by road, and just 2.5 kilometers from the operating Lepanto gold mine, which includes a 900 ktpa underutilized milling facility.

The Mankayan deposit spans roughly 1,100 meters of strike and 600 meters in width, with mineralization open to the north, south and at depth. Over 56,000 meters of diamond drilling has been completed to date, and the deposit hosts a JORC 2012-compliant mineral resource estimate of 793 Mt at 0.37 percent copper and 0.40 grams per ton (g/t) gold, equating to 0.756 percent CuEq. This includes a high-grade core of 170 Mt at 0.48 percent copper and 0.59 g/t gold (1.049 percent CuEq), offering valuable optionality.

Drilling results support Mankayan’s classification as a globally significant resource. Notable historic intercepts include:

  • 911 meters at 1 percent CuEq, including 253 meters at 1.43 percent CuEq
  • 543 meters at 1.08 percent CuEq, including 277 meters at 1.43 percent CuEq
  • 1,119 meters at 0.86 percent CuEq, including 352 meters at 1.15 percent CuEq
  • 754 meters at 1.03 percent CuEq, including 430 meters at 1.21 percent CuEq

In July 2025, Blackstone confirmed significant new surface mineralization through historical rock chip samples returning grades up to 6 g/t gold and 1.9 percent copper, and a standout recent drill hole – 432 meters at 1.25 percent CuEq (including 210 meters at 1.60 percent) – further underscoring the project’s scale and growth potential.

A key strategic advantage of Mankayan is its dual development pathway. The high-grade core supports a low-capex startup via selective mining methods, while the bulk of the deposit can be exploited through larger-scale mining scenarios that benefit from lower operating costs and economies of scale. This tiered approach allows Blackstone to balance capital efficiency with long-term growth.

Regulatory and community engagement milestones have also been achieved. The project’s 25-year mineral production sharing agreement was renewed in 2022, and a memorandum of agreement with local Indigenous Peoples was signed in 2024, making Blackstone the first mining company to obtain IP consent in the area. The Mines and Geosciences Bureau of the Philippines has since designated Mankayan as a priority development project.

Mankayan stands out globally when benchmarked against peer porphyry systems. A comparative analysis of undeveloped copper-gold projects ranks it near the top in terms of grade and copper equivalent tonnage, reaffirming its strategic and economic potential on the world stage.

In 2025 and beyond, Blackstone will continue metallurgical testwork, geophysics (including magnetics, IP and electromagnetics), environmental baseline studies, and further drilling to refine and expand the resource. These efforts will support upcoming mining studies and a targeted prefeasibility study.

Ta Khoa

Ta Khoa nickel project in Vietnam

Blackstone Minerals holds a 90 percent interest in the Ta Khoa nickel project, located in the Son La Province of northern Vietnam, about 160 km west of Hanoi. The project comprises the Ban Phuc underground nickel sulphide mine – a modern operation built to Australian standards that operated between 2013 and 2016 – and the adjacent Ta Khoa refinery, currently being developed to produce battery-grade precursor cathode active material (pCAM).

The Ban Phuc mine is currently under care and maintenance but is poised for recommissioning alongside the construction of a concentrator and refinery. The broader Ta Khoa asset base contains probable reserves of 48.7 million tonnes (Mt) at 0.43 percent nickel, equivalent to 210 kilotonnes (kt) of contained nickel. The mining inventory totals 64.5 Mt at 0.41 percent nickel, containing 265 kt of nickel. This figure excludes additional developing prospects such as Ban Khoa.

Over the planned 10-year mine life, Ta Khoa is expected to produce an average of 18 kt of nickel concentrate annually, with the potential to extend well beyond this horizon through integrated refining. The existing infrastructure onsite, including a 450 ktpa mill and a mining camp, provides significant capital efficiency and accelerates time to production.

A recent 12-month pilot program, conducted in partnership with ALS and Wood, successfully demonstrated that Ta Khoa’s hydrometallurgical flowsheet can convert concentrate into nickel sulphate at 99.95 percent purity and 97 percent recovery. This success positions the refinery as a credible supplier to the Asia-Pacific battery supply chain.

The project is further distinguished by its low emissions profile. Independent assessments by Digbee, Minviro, Circulor and an audit by the Nickel Institute have confirmed Ta Khoa as the lowest-emitting pCAM flowsheet in the industry, with carbon intensity of just 9.8 kg CO₂ per kg of pCAM, with opportunities for further reduction.

Blackstone’s development strategy includes flexible feedstock acceptance – from nickel concentrate to black mass – and is strengthened by partnerships with Cavico Laos for third-party supply, Arca Climate Technologies for carbon capture via mineralization, and Limes Renewables to supply clean wind energy. Additionally, the company has secured byproduct offtake arrangements for manganese sulphate and sodium sulphate with VinaChem, PVChem and Nam Phong Green, reinforcing its commitment to full-cycle resource utilization and ESG leadership.

Management Team

Hamish Halliday – Non-executive Chairman

Hamish Halliday is a geologist with over 20 years of corporate and technical experience. He is also the founder of Adamus Resources Limited, an AU$3 million float that became a multimillion-ounce emerging gold producer.

Scott Williamson – Managing Director

Scott Williamson is a mining engineer with a commerce degree from the West Australian School of Mines and Curtin University. He has over 10 years of experience in technical and corporate roles in the mining and finance sectors.

Geoff Gilmour – Non-executive Director

Appointed following Blackstone’s merger with IDM, Geoff Gilmour brings deep experience in Southeast Asian mining ventures. He has held senior roles in exploration and development across copper and gold projects in the Philippines and broader Asia-Pacific.

Tessa Kutscher – Executive

Tessa Kutscher is an executive with more than 20 years of experience in working with C-Level executive teams in the fields of business strategy, business planning/optimisation and change management. After starting her career in Germany, she has worked internationally across different industries, such as mining, finance, tourism and tertiary education.

Lon Taranaki – Executive

Lon Taranaki is an international mining professional with over 25 years of extensive experience in all aspects of resources and mining, feasibility, development and operations. Taranaki is a qualified process engineer from the University of Queensland Australia. He holds a Master of Business Administration, and is a fellow of the Australian Institute of Company Directors. Taranaki has established his career in Asia where he has successfully worked (and lived) across multiple jurisdictions and commodities ranging from technical, mine management and executive management roles.

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As the global economy shifts toward electrification and clean energy, lithium has emerged as a cornerstone of the energy transition, and the US is racing to secure its place in the supply chain.

Lithium-ion batteries are no longer just critical to electric vehicles (EVs); they’re becoming vital across sectors to stabilize power systems, particularly amid growing reliance on intermittent renewables.

According to Fastmarkets, demand for battery energy storage systems (BESS) is accelerating, driven by data centers, which have seen electricity consumption grow 12 percent annually since 2017.

In the US, where data infrastructure is heavily clustered, BESS demand from data centers alone could make up a third of the market by 2030, with a projected compound annual growth rate of 35 percent.

As the US works to expand domestic production and reduce import dependence, policy uncertainty, including potential rollbacks of EV tax credits and clean energy incentives, clouds the investment outlook.

1. Sociedad Química y Minera (NYSE:SQM)

Year-to-date gain: 10.43 percent
Market cap: US$10.82 billion
Share price: US$40.64

SQM is a major global lithium producer, with operations centered in Chile’s Salar de Atacama. The company extracts lithium from brine and produces lithium carbonate and hydroxide for use in batteries.

SQM is expanding production and holds interests in projects in Australia and China.

Shares of SQM reached a year-to-date high of US$45.61 on March 17, 2025. The spike occurred a few weeks after the company released its 2024 earnings report, which highlighted record sales volumes in the lithium and iodine segments. However, low lithium prices weighed on revenue from the segment, and the company’s reported net profit was pulled down significantly due to a large accounting adjustment related to income tax.

In late April, Chile’s competition watchdog approved the partnership agreement between SQM and state-owned copper giant Codelco aimed at boosting output at the Atacama salt flat. The deal, first announced in 2024, reached another milestone when it secured approval for an additional lithium quota from Chile’s nuclear energy regulator CChEN.

Weak lithium prices continued to weigh on profits, with the company reporting a 4 percent year-over-year decrease in total revenues for Q1 2025.

2. Lithium Americas (NYSE:LAC)

Year-to-date gain: 9.67 percent
Market cap: US$719.1 million
Share price: US$3.29

Lithium Americas is developing its flagship Thacker Pass project in Northern Nevada, US. The project is a joint venture between Lithium Americas at 62 percent and General Motors (NYSE:GM) at 38 percent.

According to the firm, Thacker Pass is the “largest known measured lithium resource and reserve in the world.”

Early in the year, Lithium Americas saw its share rally to a year-to-date high of US$3.49 on January 16, coinciding with a brief rally in lithium carbonate prices.

In March, Lithium Americas secured US$250 million from Orion Resource Partners to advance Phase 1 construction of Thacker Pass. The funding is expected to fully cover development costs through the construction phase. On April 1, the joint venture partners made a final investment decision for the project, with completion targeted for late 2027.

Other notable announcements this year included a new at-the-market equity program, allowing the company to sell up to US$100 million in common shares.

3. Lithium Argentina (NYSE:LAR)

Year-to-date gain: 8.46 percent
Market cap: US$467.28 million
Share price: US$2.90

Lithium Argentina produces lithium carbonate from its Caucharí-Olaroz brine project in Argentina, developed with Ganfeng Lithium (OTC Pink:GNENF,HKEX:1772).

The company is also advancing additional regional lithium assets to support EV and battery demand.

Previously named Lithium Americas (Argentina), the company was spun out from Lithium Americas in October 2023.

While shares of Lithium Argentina spiked in early January to a year-to-date high of US$3.10, the share price has been trending higher since June 19 to its current US$2.90 value.

Notable news from the company this year includes its name and ticker change and corporate migration to Switzerland in late January and the release of the full-year 2024 results in March.

In mid-April, Lithium Argentina executed a letter of intent with Ganfeng Lithium to jointly advance development across the Pozuelos-Pastos Grandes basins in Argentina. The plan includes a project fully owned by Ganfeng as well as two jointly held assets majority-owned by Lithium Argentina.

The company released its Q1 results on May 15, reporting a 15 percent quarter-over-quarter production reduction, which it attributed to planned shutdowns aimed at increasing recoveries and reducing costs.

Overall, the production guidance for 2025 is forecasted at 30,000 to 35,000 metric tons of lithium carbonate, reflecting higher expected production volumes in the second half of the year.

Securities Disclosure: I, Georgia Williams, currently hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Homerun Resources Inc. (TSXV: HMR,OTC:HMRFF) (OTCQB: HMRFF) (‘Homerun’ or the ‘Company’) is pleased to announce that the Company has filed documents with the TSX Venture Exchange (the ‘Exchange’) seeking conditional approval for its $3 million, $1.00 unit (‘Unit’) private placement financing (the ‘Financing’).

Further, and on receipt of Exchange approval, the Company will close a first tranche for gross proceeds of $1,568,000 and will issue 1,568,000 Units, each Unit consisting of one common share of the Company and one common share purchase warrant (the ‘Warrants’), the warrants being exercisable for an additional common share of the Company at an exercise price of CA$1.30 for 24 months. The Warrants will be subject to the right of the Company to accelerate the exercise period of the warrants if shares of the company close at or above CA$2 for a period of 10 consecutive trading days.

Proceeds from the financing will be used for project payments, continuing development of the Company’s projects and general working capital. In connection with the Financing and on receipt of Exchange approval, the Company will pay cash finder’s fees of $28,455 and issue 28,455 Non-Transferable Broker Warrants. All securities issued pursuant to the Financing are subject to a four-month and one-day hold period.

One insider subscribed to the Financing for $100,000 or 100,000 Units, that portion of the Financing is a ‘related party transaction’ as such term is defined under MI 61-101 – Protection of Minority Security Holders in Special Transactions. The Company is relying on exemptions from the formal valuation requirement of MI-61-101 under sections 5.5(a) and (b) of MI 61-101 in respect of the transaction as the fair market value of the transaction, insofar as it involves the interested party, is not more than 25% of the Company’s market capitalization.

UPDATE ON $6M INSTITUTIONAL FINANCING

Further to Homerun’s News Release of June 16th 2025, announcing the Binding Term Sheet with an institutional investor, the Company is pleased to provide an update that the financing is in final review and closing processes with the Exchange.

About Homerun (www.homerunresources.com)

Homerun (TSXV: HMR,OTC:HMRFF) is a vertically integrated materials leader revolutionizing green energy solutions through advanced silica technologies. As an emerging force outside of China for high-purity quartz (HPQ) silica innovation, the Company controls the full industrial vertical from raw material extraction to cutting-edge solar, battery and energy storage solutions. Our dual-engine vertical integration strategy combines:

Homerun Advanced Materials

  • Utilizing Homerun’s robust supply of high purity silica sand and quartz silica materials to facilitate domestic and international sales of processed silica through the development of a 120,000 tpy processing plant.

  • Pioneering zero-waste thermoelectric purification and advanced materials processing technologies with University of California – Davis.

Homerun Energy Solutions

  • Building Latin America’s first dedicated high-efficiency, 365,000 tpy solar glass manufacturing facility and pioneering new solar technologies based on years of experience as an industry leader in developing photovoltaic technologies with a specialization in perovskite photovoltaics.

  • European leader in the marketing, distribution and sales of alternative energy solutions into the commercial and industrial segments (B2B).

  • Commercializing Artificial Intelligence (AI) Energy Management and Control System Solutions (hardware and software) for energy capture, energy storage and efficient energy use.

  • Partnering with U.S. Dept. of Energy/NREL on the development of the Enduring long-duration energy storage system utilizing the Company’s high-purity silica sand for industrial heat and electricity arbitrage and complementary silica purification.

With six profit centers built within the vertical strategy and all gaining economic advantage utilizing the Company’s HPQ silica, across, solar, battery and energy storage solutions, Homerun is positioned to capitalize on high-growth global energy transition markets. The 3-phase development plan has achieved all key milestones in a timely manner, including government partnerships, scalable logistical market access, and breakthrough IP in advanced materials processing and energy solutions.

Homerun maintains an uncompromising commitment to ESG principles, deploying the cleanest and most sustainable production technologies across all operations while benefiting the people in the communities where the Company operates. As we advance revenue generation and vertical integration in 2025, the Company continues to deliver shareholder value through strategic execution within the unstoppable global energy transition.

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

‘Brian Leeners’

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

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

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260023

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Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from the Metals & Mining Virtual Investor Conference, held July 23 rd and 24 th are now available for online viewing.

 

   REGISTER AND VIEW PRESENTATIONS HERE   

 

The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download investor materials from the company’s resource section.

 

Select companies are accepting 1×1 management meeting requests through July 29 th .

 

  July 23   rd  

 

                      

  Presentation     Ticker(s)  
Andean Silver Ltd.   (OTCQX: ADSLF | ASX: ASL)  
G50 Corp. Limited   (OTCQB: GFTYF | ASX: G50)  
Silver Tiger Metals Inc.   (OTCQX: SLVTF | TSXV: SLVR)  
Viva Gold Corp.   (OTCQB: VAUCF | TSXV: VAU)  
Liberty Gold Corp.   (OTCQX: LGDTF | TSX: LGD)  
UR-Energy Inc.   (NYSE American: URG | TSX: URE)  
Arizona Sonoran Copper Company   (OTCQX: ASCUF | TSX: ASCU)  
Northisle Copper & Gold Inc.   (OTCQX: NTCPF | TSXV: NCX)  
 Element79 Gold Corp.   (OTCQB: ELMGF | CSE: ELEM)  
Rackla Metals Inc.   (TSXV: RAK)  

 

  
July 24
  th  

 

                

  Presentation     Ticker(s)  
Heliostar Metals Ltd.   (OTCQX: HSTXF | TSXV: HSTR)  
Camino Minerals Corp   (OTCID: CAMZF | TSXV: COR)  
West Red Lake Gold Mines Ltd.   (OTCQB: WRLGF | TSXV: WRLG)  
 Silver47 Exploration Corp.   (OTCQB: AAGAF | TSXV: AGA,OTC:AAGAF)
Axcap Ventures Inc.   (OTCID: GARLF | CSE: AXCP)  
AbraSilver Resource Corp.   (OTCQX: ABBRF | TSX: ABRA)  
Myriad Uranium Corp.   (OTCQB: MYRUF | CSE: M)  

 

 
To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com .

 

  About Virtual Investor Conferences   ®

 

Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

 

Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

 

  Media Contact:  
OTC Markets Group Inc. +1 (212) 896-4428,   media@otcmarkets.com   

 

  Virtual Investor Conferences Contact:  
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com  

 

   

 

 

News Provided by GlobeNewswire via QuoteMedia

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There’s a new player making waves in an industry dominated by big banks.

Imprint, the 5-year-old credit card startup, beat out banks in a competitive bidding process for a new co-branded card from online shopping platform Rakuten, CNBC has learned.

The deal is the most recent sign that Imprint is gaining traction in the co-branded credit card industry.

The New York-based startup also just raised $70 million in additional capital, boosting its valuation by 50% to $900 million less than a year from its previous round, according to Imprint CEO Daragh Murphy.

Credit card partnerships with retailers, airlines and hotels are some of the most hotly contested deals in finance. Brands often go through extensive bidding processes to select a card company, while the companies compete for the right to issue cards to millions of loyal customers. The industry’s largest players include JPMorgan Chase, Capital One, Citigroup and Synchrony.

“We’re talking to Fortune 500 companies about being their partner and them choosing us over Synchrony, over Barclays, over U.S. Bank,” Murphy said in an interview. “We have to kind of walk and talk like we’re a big, important company, even though we still have a startup ethos.”

That’s why the company recently raised capital, bringing its total to $330 million, most of which is held on the firm’s balance sheet, according to Murphy. Those funds help show potential partners that Imprint has staying power, he said.

Imprint also has about $1.5 billion in credit lines from banks including Citigroup, Truist and Mizuho, which it uses to extend loans to card customers, Murphy said. The startup is behind the cards from brands including Eddie Bauer, Brooks Brothers and Turkish Airlines.

To offer its credit cards, Imprint usually partners with one of two small banks, First Electronic Bank or First Bank and Trust. Imprint handles the customer experience, including the technology and credit decisions, while using the credit card rails of regulated banks.

In the case of the Rakuten card, Imprint is relying on the American Express network, which allows users to get Amex purchase protections and other perks. It is using First Electronic Bank to help issue the cards.

“Though we’re not a regulated bank, we’re effectively building a bank,” Murphy said. “We have to do all the same things as a bank. We’re a capital markets company; we’re a compliance company; we’re a risk and credit and fraud company; we’re a technology company.”

To gain a toehold in the market for co-branded cards, which can be used anywhere credit cards are accepted, Imprint decided it would focus on a seamless digital experience for customers, Murphy said. That requires technology integration that is difficult for established players who rely on third-party companies including Fiserv to complete transactions, he said.

“The banks are in trouble because they don’t own the technology that the credit card runs on,” Murphy said. “Every credit card in your wallet, whether it’s Chase … or from Citi or Synchrony, they rely on two or three different third parties to power the technology.”

Imprint also decided to set itself apart by making it easy for customers to pay off their loans, Murphy said. Card companies including Bread Financial and Synchrony make a far larger percentage of revenue from late fees than Imprint does, he said.

“You shouldn’t have all these regressive late fees, and you shouldn’t make it hard to pay,” Murphy said. “The easier we make it to pay, the more likely you are to use the card, and the more likely you are to use the card, the better it is for everybody.”

Finally, Murphy said the company’s low customer acquisition costs allow it to fund more rewards for card users.

The new Rakuten card, for instance, offers users an extra 4% in cash back in addition to what customers earn through shopping on the online portal, capped at $7,000 in spending per year.

Users also earn 10% in cash back while dining at Rakuten’s partner restaurants, and 2% cash back on groceries and non-partner restaurants.

The previous Rakuten credit card was issued by Synchrony and discontinued in 2022.

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Corporations are continuing to spend on business travel, but are being strategic about how they allocate those dollars amid ongoing trade uncertainties, according to new reports from the travel and expense platform Navan and the Global Business Travel Association.

Corporate travel spending activity increased 15% year over year in the second quarter of 2025, according to a business travel index published Tuesday from Navan.

Navan’s index, backed by Nasdaq, is derived from millions of corporate business transactions on its platform. It examines the amount spent and number of transactions relating to airline travel, hotel reservations and expense transactions from corporate cards.

Amy Butte, Navan’s CFO, said during an interview that from talking with other chief financial officers over the past few months, she never got the sense that corporate leaders would stop spending on business travel altogether. Instead, they are in “wait and see” mode.

“If you’re making choices about where you’re being cautious, we’re not seeing people be cautious in the area of relationship building, either with their customers or with their teammates. We’re still seeing the spend allocated towards travel as a key component of any business strategy,” Butte said.

But while global business travel is expected to reach a new high of $1.57 trillion in 2025, according to a Monday report by the Global Business Travel Association, that total represents 6.6% year-over-year growth, which is less than the 10.4% increase that was previously predicted. GBTA cited trade tensions, policy uncertainty and economic pressures as the reasons for the more moderate growth.

A string of sentiment polls by GBTA also shows that corporate travel optimism for the rest of 2025 appears muted. The percentage of respondents who said they were optimistic about the overall outlook for the business travel industry in 2025 dropped sharply from 67% in November 2024 to 31% in April and declined slightly again this month to 28%.

The findings from both reports, grouped together with commentary from airline CEOs last week, show C-suite leaders are still largely left in wait-and-see mode amid President Donald Trump’s fluid tariff policies, but companies appear now to have a better read on how they will manage the uncertainty.

“Historically, corporate travel has been the first thing, one of the easiest things, to minimize if you’re a company,” Delta Air Lines CEO Ed Bastian said during the company’s earnings call this month, adding that corporate travel on the airline has been flat on a year-over-year basis.

But Butte said that Navan has not seen a drop-off in business travel. Instead, businesses are shifting how they are spending.

For example, Butte said businesses are continuing to commit to individual, face-to-face meetings, rather than spending on large group outings. The Navan index shows that spending on personal meals, meaning one-on-one meetings held over a meal, was up 9.8% from last year, while spending on team events and meals was the only category in the report that declined.

Navan did see some compression earlier in the year in the share of higher-priced airline tickets purchased that were first class or business class, Butte said, but she added that the platform has since seen an acceleration as uncertainty has lessened.

Airfare prices have also declined so far this year, which means business and consumers alike are spending less on plane tickets. Airfare fell 3.5% in June from a year earlier while inflation overall rose, according to the Bureau of Labor Statistics.

GBTA CEO Suzanne Neufang said during an interview that CFOs have not cut travel spending off entirely, but are looking for efficient ways to get employees on the road. This may look like booking multicity trips, scheduling multiple meetings per trip or booking fewer trips per month, she said.

Neufang said the business travel industry has been focused over the past five years on making sure every trip has a purpose and delivers a return on investment.

“Gone are the days when there’s really frivolous business traveling,” Neufang said.

The new findings on business travel spending also come as airlines are reporting their quarterly earnings.

When Delta reported earnings on July 10, Bastian said he expects both consumer and corporate confidence to improve in the second half of the year, creating an environment for travel demand to accelerate.

Delta and other airlines saw travel demand come in weaker than expected at the beginning of the year, especially from price-sensitive customers traveling domestically. Bastian said back in April that Trump’s trade policies were hurting bookings.

Bastian took a more positive tone this month, telling CNBC that corporate travel has stabilized as businesses have more clarity and confidence than they did earlier this year. But he said corporate travel is in line with last year, not the 5% to 10% growth Delta expected at the start of the year.

Meanwhile, Delta President Glen Hauenstein said on an earnings call this month that corporate travel trends are “choppy” and overall corporate volumes are expected to be “flattish” over last year.

United Airlines reported earnings last week. CEO Scott Kirby said during the company’s call with analysts that so far this month, the airline has seen a double-digit acceleration in business demand as uncertainty has declined.

Andrew Nocella, United’s executive vice president and chief commercial officer, added that the business traffic growth is “across the board” and not restricted to any singular hub or vertical, which he said reflects lessening macroeconomic uncertainty.

Southwest Airlines, Alaska Airlines and American Airlines are scheduled to report their quarterly results this week.

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WASHINGTON — Bleach maker Clorox said Tuesday that it has sued information technology provider Cognizant over a devastating 2023 cyberattack, alleging that the hackers pulled off the intrusion simply by asking the tech company’s staff for employees’ passwords.

Clorox was one of several major companies hit in August 2023 by the hacking group dubbed Scattered Spider, which specializes in tricking IT help desks into handing over credentials and then using that access to lock them up for ransom. The group is often described as unusually sophisticated and persistent, but in a case filed in California state court on Tuesday, Clorox said one of Scattered Spider’s hackers was able to repeatedly steal employees’ passwords simply by asking for them.

“Cognizant was not duped by any elaborate ploy or sophisticated hacking techniques,” according to a copy of the lawsuit reviewed by Reuters. “The cybercriminal just called the Cognizant Service Desk, asked for credentials to access Clorox’s network, and Cognizant handed the credentials right over.”

Cognizant did not immediately return a message seeking comment on the suit, which was not immediately visible on the public docket of the Superior Court of Alameda County. Clorox provided Reuters with a receipt for the lawsuit from the court.

Three partial transcripts included in the lawsuit allegedly show conversations between the hacker and Cognizant support staff in which the intruder asks to have passwords reset and the support staff complies without verifying who they are talking to, for example by quizzing them on their employee identification number or their manager’s name.

“I don’t have a password, so I can’t connect,” the hacker says in one call. The agent replies, “Oh, ok. Ok. So let me provide the password to you ok?”

The 2023 hack caused $380 million in damages, Clorox said in the suit, about $50 million of which were tied to remedial costs and the rest of which were attributable to Clorox’s inability to ship products to retailers in the wake of the hack.

Clorox said the clean-up was hampered by other failures by Cognizant’s staff, including failure to de-activate certain accounts or properly restore data.

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