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Israel-Hezbollah border tensions rise as terror group rearms, resists US- backed ceasefire

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The Iran-backed Lebanese terrorist movement Hezbollah is rebuilding its military arsenal on Israel’s northern border, as experts warn that another war between the two sides could be on the horizon. The latest developments come a year after the U.S. helped broker a ceasefire between the parties.

On Wednesday, IDF spokesman Nadav Shoshani, said Hezbollah had engaged ‘in a blatant violation of the ceasefire agreement.’ Shoshani also released a video showing the rearming, claiming the terror group was ‘operating to reestablish its assets in the village of Beit Lif.’ 

Critics argue that the U.N. peacekeeping force, UNIFIL, is not fulfilling its mandate to disarm the terror group and the Lebanese Armed Forces are moving too slowly, which has led to continued Israeli actions against the terrorists. The IDF has been launching near-daily strikes against the group’s infrastructure and operatives inside Lebanon. 

Sarit Zehavi, a leading Israeli security expert on Hezbollah from the Israel Alma Research and Education Center, told Fox News Digital that Hezbollah does not currently ‘have the capability to carry out an October invasion. They had it prior to Oct. 7, 2023. They can send in a few terrorists. I want to believe it will take a few years to get those capabilities back.’

Fox News Digital exclusively reported last year on Hezbollah’s war plan to invade northern Israel and carry out a scorched-earth campaign against the Jewish state.

A day after the Iran-backed Hamas invaded Israel on Oct. 7, 2023, and massacred over 1,200 people, Hezbollah launched missile attacks against Israel.

Zehavi said, ‘Both the IDF and Hezbollah are very active. The IDF is very active to stop the rehabilitation of Hezbollah and Hezbollah is very active in rebuilding. Hezbollah learned lessons. It has been more problematic to smuggle weapons to Lebanon from Syria. It is happening. But the Syrians intercepted weapons.’

She noted that the ‘Syrian regime is willing to fight Hezbollah to fight weapons smuggling. Hezbollah is relying more on manufacturing rockets.’

Zehavi, who lives in northern Israel, said that ‘almost half of Israeli attacks on Hezbollah are south of the Litani river. We see a lot of investment from Hezbollah in drones, short-range rockets, mortars and anti-tank missiles.’

On Tuesday in Germany, prosecutors started a trial against an alleged Hezbollah member running ‘an extensive drone program for some time.’

The German Federal Prosecutor’s Office said the suspected Hezbollah operative Fadel Z joined Hezbollah more than 10 years ago and worked as a ‘foreign operator’ for the group’s drone program in 2022 in Spain and Germany.

Zehavi said it suffered a defeat of its leadership via the Mossad pager attack on its commanders. However, she added, ‘Iran immediately provided oxygen to Hezbollah for treatment to help revive Hezbollah.’

She outlined Israel’s main defense strategy against Hezbollah. First, the IDF has positions in Syria and Lebanon. ‘We cannot have civilians on the front line. The IDF is on top of hills in Israel and Lebanon and can see everything and can respond quickly to terrorist activities. This means when an Israeli woman opens her window and used to see a Hezbollah flag, she now sees an Israeli flag. This gives her a sense of security. This was not present before Oct. 7.

She estimates Hezbollah has 50,000 terrorists and 50,000 reservists. ‘We killed a few thousand terrorists.’

The IDF made dramatic advances in eradicating Hezbollah’s missile arsenal. ‘We degraded 80%’ of the rockets, Zehavi said, noting the elimination of sizable numbers of Hezbollah’s long-range and highly accurate missiles.

Edy Cohen, a Lebanese-born Israeli scholar of Hezbollah, said, ‘There is no lack of arms for Hezbollah in Beirut and Lebanon. Lately, we saw many reports that Hezbollah received arms from Syria and Iran is trying to send arms by civilian Iranian airplanes.’

He said there is enormous pressure on Hezbollah and every week Israel is killing Hezbollah operative. The Shiite community in Lebanon wants Hezbollah to retaliate against Israel, said Cohen, adding, ‘For the Shiite community Hezbollah is the state.’

Cohen said the IDF is gathering intelligence information about Hezbollah’s arsenal and attacking almost every day its leaders and operatives.

He warned that because ‘Hezbollah said it will not disarm its militia … the big war will come.’

Fox News Digital reported in early November that Trump’s U.S. Ambassador to Turkey, Thomas Barrack, who also serves as envoy to Syria, said that Lebanon is a ‘failed state,’ because of its ‘paralyzed government.’

He also noted that Hezbollah retains 40,000 fighters and between 15,000 and 20,000 rockets and missiles, noting the terror group pays its militia $2,200 per month, whereas the Lebanese Armed Forces soldiers earn $275 a month and have inferior equipment as well.


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Crypto Market Update: Bitcoin Logs Weakest Month Since 2022

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Here’s a quick recap of the crypto landscape for Friday (November 21) as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$83,590.70, down by 10.4 percent over 24 hours. Its lowest price of the day was US$81,868.75 and its highest was US$91,971.75.

Bitcoin price performance, November 21, 2025.

Bitcoin price performance, November 21, 2025.

Chart via TradingView

Bitcoin’s slide continues as it heads for its worst month since the 2022 crypto crash.

The largest cryptocurrency fell and touched US$81,000 on Friday before recovering to around US$84,166, extending a monthly decline of about 23 percent that marks its heaviest drop since June 2022.

Despite pro-crypto messaging from the Trump administration and a year of strong institutional adoption, Bitcoin has now fallen more than 30 percent from its early-October record high. The downturn accelerated following the massive October 10 liquidation event that erased US$19 billion in leveraged positions and wiped roughly US$1.5 trillion from the combined value of all cryptocurrencies.

Institutional flows reflect the same caution. US-listed Bitcoin ETFs have recorded a record US$3.79 billion in outflows this month, surpassing February’s previous high, with BlackRock’s IBIT alone seeing more than US$2 billion in redemptions.

In total, about US$1.2 trillion has been wiped from crypto markets over the past six weeks, according to CoinGecko data.

Ether (ETH) was at US$2,736.63, down 11.2 percent over 24 hours. Its lowest price on Friday was US$2,675.70 and its highest was US$3,033.20.

Altcoin price update

  • XRP (XRP) was priced at US$1.94, down by 12.2 percent over 24 hours. Its lowest price of the period was US$1.86 and its highest was US$2.13.
  • Solana (SOL) was trading at US$128, down by 13 percent over 24 hours. Its lowest price of the day was US$123.30 and its highest was US$141.97.

Fear and Greed Index snapshot

CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.

Chart via CoinMarketCap.

As of Friday, CMC’s Crypto Fear & Greed Index has plunged to 11, firmly in “extreme fear” and its lowest level since late 2022.

Reports of large-scale whale liquidations have added to the uncertainty, amplifying pressure across an already fragile market. Further, traders brace for potential Federal Reserve inaction on rate cuts. CME’s FedWatch now shows only 37.6 percent expecting a 25-basis-point cut in December, while more than 62 percent anticipate no change, a reversal from near-even odds just a week ago.

Prediction market Polymarket reflects the same trend, pricing a 63 percent chance of no move after sentiment flipped late Tuesday.

Today’s crypto news to know

Bitcoin logs weakest month since 2022

Bitcoin is heading for its steepest monthly decline since the wave of corporate failures that hit the crypto sector in 2022, with the token sliding below US$82,000 on Friday.

Its November losses have now reached roughly 25 percent, reversing much of the momentum that carried prices to record highs in early October.

Overall, data from CoinGecko shows the total crypto market value dipping back under US$3 trillion as Ether and mid-cap tokens recorded similar double-digit declines.

Analysts link the downturn to cascading liquidations that began on October 10, when nearly US$19 billion in leveraged bets were wiped out in a single session. Selling pressure intensified again this week with a two-day liquidation tally topping US$2 billion, according to CoinGlass.

Long-dormant whale activity has added to uncertainty after a wallet holding Bitcoin since 2011 unloaded more than US$1.3 billion in late October.

S&P stocks shed US$2.7 Trillion

A sharp pullback across US equities sparked another wave of risk-off trading in crypto, sending Bitcoin to its weakest level in seven months.

The S&P 500’s nearly 4 percent decline on Thursday erased more than US$2.7 trillion in market value, according to Bloomberg calculations, overshadowing an earlier bounce driven by enthusiasm around AI-linked earnings.

Crypto assets fell in tandem, with Bitcoin briefly revisiting the US$85,000 range and total liquidations surpassing US$800 million for the day.

Coinbase rolls out ETH-backed loans

Coinbase has launched a new lending feature that allows eligible US users to borrow up to US$1 million in USDC by using Ether as collateral.

The product is integrated with the Morpho protocol on Base, though users interact with it entirely through Coinbase’s interface. Borrowers keep exposure to ETH’s price movements while accessing liquidity without having to sell their holdings.

The company says the service is available across most US states, with the exception of New York due to regulatory requirements.

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

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Anteros Metals Inc. Announces Closing of Final Tranche of Private Placement

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Anteros Metals Inc. (CSE: ANT) (‘Anteros’ or the ‘Company’) announces that, further to its press releases dated October 7, 2025, and October 31, 2025, it has closed the final tranche of its non-brokered private placement through the issuance of 2,196,153 flow-through units (each, an ‘FT Unit’) at a price of $0.065 per FT Unit, and 1,300,000 hard dollar units (each, a ‘Unit’) at a price of $0.05 per Unit, for aggregate gross proceeds of $207,749.95 (the ‘Offering’).

Each FT Unit was comprised of one common share, issued on a flow-through basis (‘FT Share‘) and one-half of one whole common share purchase warrant, issued on a non-flow-through basis (each whole warrant, a ‘Warrant‘). Each Warrant shall entitle the holder thereof to acquire one common share in the capital of the Company (each, a ‘Common Share‘) at a price of $0.10 per Common Share for a period of two (2) years from date of issuance. The FT Shares will qualify as ‘flow-through shares’ within the meaning of subsection 66(15) of the Income Tax Act (Canada), which also qualify for the Canadian government’s Critical Mineral Exploration Tax Credit. Each Unit was comprised of one Common Share and one-half of one whole Warrant.

Gross proceeds raised from the Offering will be used for working capital and general corporate purposes. All securities issued pursuant to the Offering are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

In connection with the first and second tranches, the Company: (i) paid aggregate cash commissions of $16,042.50; and (ii) issued an aggregate of 228,308 finder’s warrants (each, a ‘Finder’s Warrant‘) to certain finders (the ‘Finders‘). Each Finder’s Warrant is exercisable to purchase one additional common share (each, a ‘Finder’s Share‘) at a price of $0.10 per Finder’s Share for a period of two (2) years from the date of issuance.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act’) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable United States securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

ABOUT Anteros Metals Inc.

Anteros Metals Inc. is a Canadian exploration company focused on advancing a pipeline of critical minerals projects across Newfoundland and Labrador and select Canadian jurisdictions. The Company is targeting copper, nickel, zinc, and emerging strategic commodities that support the global energy transition. Immediate plans for their flagship Knob Lake Property include bringing the historical Fe-Mn Mineral Resource Estimate into current status as well as commencing baseline environmental and feasibility studies.

For further information please contact or visit:

Email: info@anterosmetals.com | Phone: +1-709-769-1151
Web: www.anterosmetals.com | Social: @anterosmetals
Web: https://www.thunderbayexecutives.com/rift-minerals-inc

On behalf of the Board of Directors,

Chris Morrison
Director

Email: chris@anterosmetals.com | Phone: +1-709-725-6520
Web: www.anterosmetals.com/contact

16 Forest Road, Suite 200, St. John’s, NL, Canada A1X 2B9

Cautionary Statement Regarding Forward-Looking Information

This news release may contain ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to the prospects for development of the Company’s mineral properties, and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275398

News Provided by Newsfile via QuoteMedia

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MIKE PENCE: No place for antisemitism in America today, tomorrow or ever

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The conservative movement has found itself in a season of confusion in recent weeks. Former friends quarrel, familiar institutions are in turmoil, and some voices, both new and old, on the right have begun to wonder aloud whether the United States should still stand with Israel. 

That question deserves a resolute answer, and the answer is this: for our security, for democracy in the Middle East and for the very destiny of our nation, America must stand with Israel.

Americans should always be open to debate how we spend our money abroad and whether our foreign policy truly serves national interest. The rising generation in particular demands rigorous answers beyond empty platitudes.  

But lately, it seems that something deeper, something darker, has driven those questions. After decades of conflict in the Middle East, some are tempted to embrace isolationism, to treat moral clarity as naïveté, and to spurn our allies as unwanted burdens under the strain of massive national debt. For others, it is nothing more than antisemitism.  

The acceptance of antisemitic voices on the left and the right, from the halls of Congress to social media, represents a vile and dangerous trend in American politics, and it must be forcefully opposed wherever it appears. There is no place in the conservative movement for antisemitism.

 

For nearly 80 years, the bond between the United States and Israel has been more than a diplomatic arrangement. It has been a covenant of free peoples who share the same ideals: faith in God, belief in human dignity and gratitude for the blessings of liberty. Israel’s survival has never depended on our charity; it has depended on our partnership, and that partnership has made America safer and paid dividends. 

Centuries before the founding of modern Israel, our Founding Fathers championed the return of the Jewish people to Israel and made special provision for the Jewish faith in America. George Washington assured Jewish Americans that the fledgling United States ‘gives to bigotry no sanction, to persecution no assistance.’ John Adams supported ‘the Jews again in Judea’ as ‘an independent nation.’ Elias Boudinot, the president of the American Revolution’s Congress, boldly suggested that ‘God has raised up these United States… for the very purpose of… bringing his beloved people to their own land.’ Even the famously thrifty Benjamin Franklin once opened his coffers to help a local Philadelphia synagogue weather financial difficulty.  

But the case for Israel is far more than historic.

 

US working with Israel to reach a peace agreement in the Middle East

Today, Israel stands as an oasis of democracy in a Middle East where dozens of its neighbors are Islamic states or still practice monarchy. It is a cruel irony that, in a world of 46 majority-Muslim nations, the presence of a single majority-Jewish nation is seen by many of Israel’s neighbors as one too many. Thirty-one countries still refuse to recognize Israel on their maps. Some of those would love nothing less than to see Israel wiped off the map altogether. And yet Israel persists.  

Thanks to Israel’s courage and the decisive strike on Iran’s nuclear facilities by the United States, we no longer live under a nuclear sword of Damocles wielded by a regime that chants ‘Death to America.’ From the Stuxnet cyber operation that crippled Iran’s enrichment program, to Israel’s assistance with U.S. airstrikes, and to many heroic covert operations, Israel has repeatedly helped delay Tehran’s progress toward obtaining nuclear weapons. Those actions protected not only Jerusalem and Tel Aviv – they protected Washington, New York and every American city within reach of Iran’s hatred. 

That may not matter much to a segment of the New Right that confuses isolation for safety. But the rest of us know better. We understand what it would mean if the world’s leading state sponsor of terrorism ever possessed nuclear weapons.  When Israel takes the fight to Iran’s terror network proxies like Hezbollah, Hamas and the Revolutionary Guard, it is not merely doing our bidding; it is doing what conscience and common sense require. It stands between civilization and chaos. Israel’s cause is our cause.  

When Israel succeeds, as it did in 2024 by decapitating Hezbollah’s leadership in a precision pager-bombing campaign, America is safer. The practical case for our alliance is clear.

Centuries before the founding of modern Israel, our Founding Fathers championed the return of the Jewish people to Israel and made special provision for the Jewish faith in America.

But the heart of American support is still a matter of shared values and faith. We stand with Israel because we believe in right over wrong, in good over evil, and in liberty over tyranny. Israel must be empowered to finish the fight against those who would harm her, terrorists who hide behind women, children, hospitals and holy places as they launch rockets indiscriminately into Israel. Peace and justice, within Gaza and without, require that Hamas be destroyed. 

In the end, Americans have always supported Israel because the very existence of this enduring nation bears witness to God’s faithfulness. And the support of millions of Americans throughout the generations has been built upon the ancient words recorded in Genesis where God promises to ‘bless those who bless you, and whoever curses you I will curse, and all peoples on earth will be blessed through you.’

For 250 years, America has been blessed like no other country in history. As we prepare to celebrate our blessings as a nation, I believe we must never forsake that promise or our cherished ally. If the world knows nothing else, let the world know this: America stands with Israel. 


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House GOP campaign chair wants Trump ‘out there on the trail’ in midterm battle for majority

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The chair of the House Republican campaign arm says the Democrats’ sweeping victories in this month’s 2025 elections are a ‘wake-up call’ for GOP voters.

And Rep. Richard Hudson of North Carolina, who’s chairing the National Republican Congressional Committee for a second straight election cycle, said in an exclusive interview with Fox News Digital that he wants President Donald Trump ‘out there on the trail’ in next year’s midterm elections, when the party defends its razor-thin House majority.

Democrats won the only two races for governor this year, in New Jersey and Virginia, by double digits, and also scored big wins in ballot box showdowns in battlegrounds Georgia and Pennsylvania and left-tilting New York City and California.

Plenty of Republicans have discounted the Democrats’ high-profile victories, since they mostly occurred in blue-leaning states, since they mostly occurred in blue-leaning states.

Hudson noted the top elections took place in ‘Democrat states,’ but added, ‘I think our big takeaway as Republicans is the Democrats were energized. They turned out at record levels. Republicans turned out in normal levels.’

‘I think there’s a wake-up call there to conservatives and Republicans who are happy with the direction of the country. They’re glad President Trump’s back in the White House. But if they want to keep this momentum going, they’ve got to show up and vote,’ he emphasized.

Many of Trump’s MAGA supporters are considered low-propensity voters, who head to the polls only when Trump is on the ballot. But Trump won’t be on the ballot in the 2026 midterms.

Hudson, who noted that ‘House Republicans are very closely aligned with President Trump, and we’re supporting his agenda,’ said that ‘we want him out there on the trail, campaigning with our candidates. I think he brings a lot of energy.’

Pointing to ‘a lot of folks who don’t vote when he’s not on the ballot,’ Hudson said, ‘I don’t need all of them to show up, but I need some of them. And so having President Trump out there will be a big benefit for us.’

Those requests for the MAGA motivator are already coming in to the president’s political team.

Matt Van Epps, the Republican nominee in next month’s special congressional election for a vacant GOP-held House seat in Tennessee, has asked for Trump to campaign in person with him ahead of the Dec. 2 election.

Democrats were laser-focused on affordability on the 2025 campaign trail.

Democratic National Committee Chair Ken Martin said his party’s candidates met ‘voters at the kitchen table. . . . From New Jersey and Virginia and New York, to Georgia and beyond, Democrats ran campaigns relentlessly focused on costs and affordability.’

And Martin emphasized the 2025 elections were a preview of things to come in next year’s midterms.

‘In ‘26, we’ll do it again. We’ll run a National Coordinated Campaign to win races up and down the ballot to provide a check on the out-of-control Trump administration and its Republican rubber stamps,’ he argued.

Hudson, pointing to former President Joe Biden, said ‘there are challenges out there with the economy, because Biden broke it, and House Republicans, working with President Trump, are going to fix it, and we’re working very hard to do that. ‘

‘Certainly, we could always improve the way we communicate with our voters about it,’ he added. ‘But we are laser focused on the issues that matter to them. You know, it’s the cost of things, it’s the security in their neighborhood, it’s a secure border. We are very focused on that, and we’ve delivered a lot of things that are going to make their lives better.’

And looking ahead to next year, he added, ‘come tax season, a lot of families are going to be really happy to see they’ve got a lot more take-home pay, and that’s because of Donald Trump and House Republicans.’

Hudson, in step with fellow Republicans, aimed to link Mayor-elect Zohran Mamdani, a socialist who pushed a far-left platform on the campaign trail this year, to House Democrats who may face challenging re-elections next year.

‘The entire Democrat Party has shifted to the left. This is Mamdani’s party now,’ Hudson charged. ‘And every single House Democrat needs to answer for his policies, and they need to let their constituents know, do they stand with Mamdani or not?’

The power in power, which nowadays is clearly the Republicans, traditionally faces political headwinds in the midterm elections.

And Hudson was interviewed as two new national polls indicated Democrats with the upper hand in the 2026 battle for the House majority.

But Hudson said: ‘The only number I’m concerned about is three. We have three Republicans in seats Kamala Harris carried.’

And he highlighted that Democrats have ‘thirteen sitting in seats Donald Trump won. They’ve got 21 more sitting in seats that Donald Trump barely lost. So there, there are only a few seats up for grabs this time, most of them are Democrat seats.’


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COP-30 Misses the Point: Give Indigenous People Ownership, Not Handouts

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Central planners just can’t help themselves. They feel obligated to solve the world’s problems. Consider this year’s Orwellianly-named “Conference of the Parties” (COP-30), the thirtieth annual climate conference sponsored by the United Nations Framework Convention on Climate Change (UNFCCC).

Thousands of government officials and members of international non-government organizations (which, of course, get millions of dollars from governments) have descended on Belem, Brazil for their annual COP-30 gathering. The past two gatherings, COP-29 in Azerbaijan and COP-28 in the United Arab Emirates, were rough to say the least. 

They failed to get big commitments from wealthy countries, they didn’t win over many less-developed countries, and increasingly the conference looked co-opted by fossil fuel interests. That low bar means this year’s conference may hit a brighter note – although less than half-way through the conference, protestors tried to force their way in and harmed several security personnel. So maybe we’ll see a new low in the war to “save” the planet.

As an advocate for freedom, these annual COP meetings can be disheartening. They are an annual reminder of the immense resources and machinery for coercion and central planning that keep grinding relentlessly on (with taxpayer funds) no matter how unhappy the people of the world are with their “benevolent” planning. As with most centralized solutions, the proposals put forward at COP-30 will do little to help or to empower those who are really at risk.

The Amazon rainforest figures prominently in the climate agenda this year. In fact, the indigenous protestors at this year’s climate conference live in and near that rainforest. COP attendees busily work away at hammering out agreements for wealthy countries to compensate poorer countries for “environmental damages.” These billions of dollars that attendees hope to extort from guilt-ridden governments and wealthy corporate managers will enrich themselves and their cronies by funding more travel, more conferences, and more studies. The money will also grease the palms of government officials in recipient countries. And then, whatever crumbs are left, might make their way into the hands of those most harmed by environmental problems.

But that’s not what these protestors want. As one protestor said “We can’t eat money….We want our lands free from agribusiness, oil exploration, illegal miners and illegal loggers.” Brazil’s left-leaning President Luiz Lula da Silva (known as “Lula”) has said that this year’s conference and the government of Brazil is committed to working with indigenous communities. Unfortunately, for Lula and the COP-30 attendees, paternalism does not seem to be what these indigenous communities want.

There is a much better and simpler solution: protect the rights of the vulnerable. The indigenous peoples in Brazil don’t want a handout orchestrated by the global elite, they should have the property rights to their land defined and protected. Ironically, a better regime of property rights and contract will benefit the rainforest more than carbon offset schemes.

Clear cutting and deforestation happen because of deficiencies in property rights and the rule of law. People rush in to get as much wood as they can because if they don’t, someone else will. Logging companies that own their own land, on the other hand, rarely engage in clear-cutting because it will reduce the value of their land. Instead, they manage their land with an eye towards the future. They plant new trees. They protect their trees from fire and other calamities. 

There is no reason to think the indigenous peoples in and around the Amazon rainforest will act differently if they are given real ownership of their land. They will have the best knowledge of how to manage the rainforest – how to protect it, how to harvest its resources, and how to maintain its value. 

They should not live under the whims or the hubris of lawyers in Brussels or The Hague, do-gooder corporate management, or small armies of government bureaucrats around the world. Instead, they should have autonomy and the right to determine their own future – to decide what is best for themselves and their families – not to become clients in a perverse environmental patronage system.

And this lesson from indigenous peoples in the Amazon rainforest applies in dozens of other ways to people around the globe. The UN/Davos/NGO elites want to regulate every part of our lives in their quixotic quest to prevent the planet from warming “too much.” We will lose the right to decide how to ship goods, grow crops, generate electricity, travel, and otherwise govern ourselves. 

Unfortunately, the global environmental machinery will continue grinding unless those in power are replaced by champions of freedom and innovation.

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Let Neighborhoods Work: Bans on Home Businesses Are Out of Control

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Do you sell cupcakes, run a home photography studio, or tutor kids in your living room? If so, you might be breaking the law.

In the US, zoning ordinances often treat modest home enterprises as threats to the neighborhood. If you’re just running an online business, local governments generally won’t bother you, but if clients are coming to your home, then they try to limit the visibility and impact of your business. Have these regulations gone too far? Should state governments tell local governments to leave home-based businesses alone, within certain limits?

Major companies have gotten their start in someone’s garage. At this point, it’s almost a mandatory back-story for any Silicon Valley company. Apple, Hewlett-Packard, Google, and Amazon all boast garage-based origins.

And it’s not just fledgling tech startups. In residential neighborhoods across America, home-based businesses are the hidden sinews of resilient local economies, from the mom who takes care of several neighborhood kids while their parents work, to the independent tax accountant hanging out his shingle. From the Russian immigrant baking and selling honey cakes to those in the know, to a group of families that started a micro-school during the pandemic.

The rise of remote work makes home-based businesses more viable, because the potential customer base for small neighborhood retail is growing. More Americans could now benefit from the convenience of doing business close to home. Already, about 50 percent of all small businesses and 69 percent of startups are home-based.

New Hampshire is the only state with a complete dataset of local zoning regulations on home-based businesses, based on a survey of laws conducted by the Initiative for Housing Policy and Practice at Saint Anselm College. About 20 percent of the state’s independent zoning authorities outright ban home-based businesses and occupations in at least one residential district. Twenty towns ban the Hewlett-Packard origin story — a business in a detached garage — outright. Twenty-six more require a special permit. Other finicky regulations include requirements to build more parking (56 towns) or prohibitions on building more parking (14 towns), subjecting home businesses to site plan review, which comes with a public hearing and potentially costly requirements to run tests and studies (89 towns), and strict limits on the square footage a resident may use for running a business (22 towns set limits at or below 600 square feet). 

You can bet that if “Live Free or Die” New Hampshire has these regulations, other states’ rules are at least as onerous. In 2021, Florida legalized home-based businesses in all residential districts but otherwise allows local governments to regulate their operation. New Hampshire, California, Washington, Oregon, and Colorado have legalized home-based childcare statewide.

What would happen if we relaxed the rules on home-based businesses? 

Japan’s experience may offer a glimpse. American tourists return entranced by the tiny shops and offices that people run out of their homes. In Japan’s “exclusively residential” zoning category, “[s]mall shops, dental clinics, hair salons, and day cares are all permitted.” The widespread availability of small shops makes life more convenient if you live in a small house. You no longer have to store all the daily necessities of life within your residence. Jane Jacobs made the safety case for mixed-use neighborhoods in The Death and Life of Great American Cities. With more “eyes on the street,” someone is more likely to see anything bad that happens and take action.

Now, there are good reasons for Americans not to adopt Japanese zoning wholesale. Japan’s homicide rate is 25 times lower than America’s. Americans are less likely to tolerate strangers roaming around their neighborhoods. And while Jacobs’ “eyes on the street” thesis explains why mixed-use neighborhoods are safer than downtowns that empty out after work hours, bringing bars and perhaps some other commercial uses into residential neighborhoods appears to increase crime (though higher residential density reduces it).

Still, much of the US is extremely safe, and it just isn’t plausible that making it easy to start a home daycare is going to spawn a neighborhood crime wave. Reasonable limits make sense for home businesses that bring in lots of vehicle traffic, create lots of noise, or attract an undesirable clientele, but if we set aside these problematic uses, why not let people offer more services and sell more stuff out of their home?

Opponents might point to the virtues of “local control.” State legislators, they say, have less knowledge of local neighborhoods and potentially incompatible uses than local officials do.

Indeed, local governments are more competent at regulating commercial uses than homebuilding. Local governments over-regulate housing because they capture only part of the benefits of new local housing while paying the full costs. New property tax revenues and more up-to-date housing stock do benefit a locality, but the benefits of lower housing costs, lower homelessness, and stronger business conditions from new supply accrue to a larger region.

By contrast, localities reap the lion’s share of the benefit of allowing new business, including more employment opportunities, higher property tax revenues, and more convenience and amenities for residents. So we should expect local governments to treat commercial uses better than they do dense residential uses, and that’s generally what they do.

Even so, localities often err on the side of overregulation. Local officials lack the information, the incentives, and the flexibility that market prices provide. They can’t know what services people really want, public hearings amplify anti-change voices, and getting variances is too costly for the average homeowner.

Thus, state legislatures can play a useful role in using their legal and administrative expertise to carve out safe harbors for low-impact uses that local officials may not have even considered.

One example of this opportunity is in-home childcare. Many towns regulate in-home childcare like any other home-based business. But childcare is a low-impact use, and there’s no reason to treat it the same way we would, for example, auto repair. The lack of affordable childcare is also a major national economic issue. Thus, it’s no surprise that states have started to set aside local zoning regulations that ban or strictly regulate home childcare.

Could states also require or encourage localities to allow entrepreneurs to do business at home in other ways? States have the expertise and capacity to help local governments figure out opportunities to ease the burdens on small-scale entrepreneurship, without turning residential neighborhoods into central business districts. Just ask Bill Gates or Steve Jobs. America’s garages could be launching pads for global enterprise if we have the vision to let them.

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Crypto Market Update: Bitcoin Price Slide Continues, Kraken Files for IPO

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Here’s a quick recap of the crypto landscape for Wednesday (November 19) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$89,503.92, down by 3.5 percent over 24 hours. Its lowest price of the day was US$88,540.26 and its highest was US$92,074.61.

Bitcoin price performance, November 19, 2025.

Bitcoin price performance, November 19, 2025.

Chart via TradingView.

Ether (ETH) was at US$2,942.52, down 5.8 percent over 24 hours. Its lowest price on Wednesday was US$2,872.51 and its highest was US$3,093.82.

Altcoin price update

  • XRP (XRP) was priced at US$2.04, down by 8.4 percent over 24 hours. Its lowest price of the period was US$2.03 and its highest was US$2.14.
  • Solana (SOL) was trading at US$132.84, down by 6.2 percent over 24 hours. Its lowest price of the day was US$130.72 and its highest was US$138.25.

Crypto derivatives and market indicators

Derivatives markets witnessed significant long position liquidations totaling approximately US$68.99 million for Bitcoin and US$117.35 million for Ether. The dominance of long liquidations highlights persistent bearish pressure and forced deleveraging across the derivatives ecosystem, exacerbated by price drops below key support levels.

Meanwhile, open interest in Bitcoin rose by 1.5 percent, reaching US$66.11 billion, and Ether’s open interest increased by 1.64 percent to US$37.78 billion, signaling continued trader engagement despite recent volatility.

Bitcoin’s relative strength index is at 32.54, indicating that the cryptocurrency is in oversold territory. That suggests potential for a near-term technical bounce, although the market remains vulnerable.

Funding rates remain slightly positive, with Ether at 0.008 and Bitcoin at 0.01, implying that the perpetual futures market still carries a mild premium for longs, despite liquidation pressure. This delicate funding rate environment reflects cautiously bullish sentiment mixed with forced position unwinds.

Traders should watch open interest trends and funding rates closely to gauge whether the market stabilizes, or if continued downside liquidity pressure will push Bitcoin and Ether toward lower technical support zones — near US$88,000 for Bitcoin, and closer to US$2,800 for Ether. This dynamic underscores the high risk and opportunity for derivatives traders navigating the current oversold but volatile crypto market conditions.

Today’s crypto news to know

21shares launches spot Solana ETF in US

Despite a volatile market, 21shares has successfully launched its spot Solana exchange-traded fund (ETF), TSOL, in the US. It debuted with more than US$100 million in assets under management.

This is the fifth Solana-focused ETF in the US and it offers a key feature: the ability for holders to indirectly earn staking rewards from underlying SOL tokens, enhancing its appeal. Its number for assets under management at launch underscores persistent investor demand for regulated altcoin exposure.

TSOL’s success could be a leading indicator for further crypto ETF innovation, with forecasts predicting over 100 new altcoin ETFs by 2026. This influx is expected to inject significant institutional capital into altcoins like SOL, potentially legitimizing them further and boosting token prices.

Kraken files confidential IPO with SEC

Kraken announced it has confidentially filed a registration statement for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC), a significant step toward becoming a publicly traded company.

The offering is contingent on SEC review and market conditions. This filing follows others, like Grayscale’s, aligning Kraken with major US crypto exchanges like Gemini and Coinbase Global (NASDAQ:COIN). Kraken’s IPO pursuit signals the growing maturity and institutional acceptance of crypto exchanges. A public listing would provide capital for expansion, increase visibility and transparency and potentially boost investor confidence.

More broadly, a successful IPO for Kraken would be a landmark event, cementing crypto exchanges’ transition from niche startups to mainstream financial infrastructure.

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

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Trump admin gives $10k bonuses to air traffic controllers with perfect attendance during government shutdown

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Secretary of Transportation Sean Duffy and Federal Aviation Administration (FAA) Administrator Bryan Bedford announced Thursday that hundreds of air traffic controllers and technicians who worked during the government shutdown will receive bonus checks.

TheDepartment of Transportation (DOT) said in a statement that 776 air traffic controllers and technicians will be awarded $10,000 for their ‘patriotic work to ensure the safety of the skies during the Democrats’ 44-day government shutdown.’

‘These patriotic men and women never missed a beat and kept the flying public safe throughout the shutdown,’ Duffy said in a statement. ‘Democrats may not care about their financial well-being, but President Trump does.’

The secretary added, ‘This award is an acknowledgment of their dedication and a heartfelt appreciation for going above and beyond in service to the nation.’

DOT said checks would only be sent to workers who maintained perfect attendance during the recent shutdown and that the payments should arrive by Dec. 9, in time for the holidays.

‘I am profoundly proud and grateful for the air traffic personnel who worked during extraordinary operational challenges to keep the National Airspace System (NAS) running safely during the longest government shutdown,’ Bedford said in a statement. ‘Their dedication represents the highest levels of public service.’

The announcement came after President Donald Trump previously floated the idea of rewarding controllers who remained on the job, writing in a post on Truth Social last week, ‘For those Air Traffic Controllers who were GREAT PATRIOTS, and didn’t take ANY TIME OFF for the ‘Democrat Shutdown Hoax,’ I will be recommending a BONUS of $10,000 per person for distinguished service to our Country.’

‘For those that did nothing but complain, and took time off, even though everyone knew they would be paid, IN FULL, shortly into the future, I am NOT HAPPY WITH YOU,’ Trump added.

On Nov. 13, Homeland Security Secretary Kristi Noem handed out $10,000 bonus checks to Transportation Security Administration TSA agents at Houston’s George Bush Intercontinental Airport who continued working during the shutdown.

Fox News Digital has reached out to the White House for comment.


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Heliostar Presents Third Quarter 2025 Financial Results

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Q3 2025 Quarter Highlights

  • Record Q3 2025 production of 9,165 Gold Equivalent Ounces (GEOs)
  • Q3 2025 sales of 7,709 GEOs
  • Q3 Operating income of US$14.2M; Net Income of US$1.3M after US$6.4M of Exploration costs
  • Consolidated cash costs of $1,500 per GEO sold and consolidated all-in sustaining costs (‘AISC’) of $1,825 for Q3 2025
  • US$34.6M in cash, 1,688 unsold gold ounces, working capital of US$46.7M and no debt
  • The Company is on track to achieve its annual production guidance of 31,000 to 41,000 GEOs, annual cash cost of $1,800-1,900 per GEO sold and AISC of $1,950-2,100 per GEO sold for 2025

Heliostar Metals Ltd. (TSXV: HSTR,OTC:HSTXF) (OTCQX: HSTXF) (FSE: RGG1) (‘Heliostar’ or the ‘Company’) today reported unaudited financial results for the three months ended September 30, 2025 (‘Q3 2025’), which corresponds to the second quarter of Heliostar’s fiscal reporting year 2025. Results are presented in US dollars, unless stated.

Heliostar CEO, Charles Funk, commented, ‘In Q3, Heliostar continued to generate strong cash flow from our operating mines. We grew production and strengthened our capital position while significantly reinvesting across the portfolio. In Q3, this included significant drill programs at Ana Paula and La Colorada, economic studies for La Colorada and Ana Paula as well as permissions and preparations to restart mining at San Agustin. Our strong cash balance has allowed us to internally fund this restart. This gives us a clear path to generate cash flow from operations which will fund the ongoing development of Ana Paula with little-to-no equity dilution.’

‘Our recently released PEA for Ana Paula shows that the additional 101,000 ounces per year of production at an all-in sustaining cost of just $1,011/oz will be a significant cash flow generator for Heliostar, supporting growth through the next decade. The cash generated by being a producer in the current gold price environment affords us opportunities to accelerate our plan to become a mid-tier producer with 500,000 ounces per year before the end of the decade.’

Third Quarter 2025 Quarterly Conference Call

Heliostar will host a quarterly conference call on Monday, November 24, 2025, at 2:00 PM, Eastern Time/11:00 AM Pacific Time. The call will provide a corporate update following the release of our financial and operating results for the third quarter of 2025.

Please use the link here to register for the call or visit the Company website at www.heliostarmetals.com.

Q3 2025 Operational and Financial Highlights

Total gold production of 9,165 gold equivalent ounces (‘GEO’) (8,949 gold ounces) in Q3 2025. Gold production was realized from mining the Junkyard Stockpile at the La Colorada mine, as well as re-leaching the previously stacked ore at the La Colorada and the San Agustin mines. Production year-to-date January – September 2025 (‘YTD’) remains on track to achieve the lower half of the 2025 guidance issued by the Company on February 4, 2025, of 31,000-41,000 GEOs.

Total Cash Cost of $1,500 per GEO produced in Q3 2025. The combined YTD cash cost (see ‘Non-IFRS Measures’) is $1,405 per GEO.

Total AISC of $1,825 per GEO sold in Q3 2025. The increase from Q2 reflects a change in calculation methodology to include corporate General and Administrative (‘G&A’) and stock based compensation costs, expensed exploration incurred in the period, and remove previously-included by-product credits. The higher AISC is also a function of fewer GEOs sold in the period compared to Q2 2025. The consolidated YTD AISC (see ‘Non-IFRS Measures) is $1,799 per GEO sold.

Total Cash Costs and AISC are below the 2025 guidance range due to higher production relative to the budget. The Company anticipates materially higher costs in Q4 due to one-off sustainable capital investment incurred to restart mining from the Corner Area. These expenses are anticipated to return to lower rates in early 2026 at San Agustin.

Mine Operating Earnings of $14.2 million in Q3 2025. The Company continued to report strong results in Q3 2025 with steady operating unit costs and operating margin benefiting from selling into a rising gold market. Mine operating earnings YTD 2025 are $40 million.

Net income attributable to shareholders of $1.3 million, or $0.01 per share, for Q3 2025. Net income of $1.3 million ($0.01 per share) for Q3 2025 compared to a net income attributable to shareholders of $1.9 million ($0.01 per share) for Q2 2025. This was due to the increased exploration expense as drilling activities at Ana Paula ramped up and lower GEO sales volume in the quarter.

Strengthened financial position and liquidity: On September 30, 2025, the Company had cash of $34.6 million and working capital (defined as current assets less current liabilities) of $46.7 million. The cash position decreased compared to Q2 due to the increase in exploration spending. As of September 30, 2025, the Company had 1,688 unsold ounces (worth approx. $6.9M at current spot gold prices) and no debt.

Maintained stable production at La Colorada mine. The mining of new ore restarted at the Junkyard Stockpile in January 2025. Production from the Junkyard Stockpile was steady during Q3 2025, with operating costs as expected, grade in line with the reserve model and ore tonnes reconciling slightly higher than expected. Production YTD 2025 was 13,328 GEOs (12,883 gold ounces). Ore feed from the Junkyard Stockpile is planned to continue into 2026, with other historical stockpiles identified to provide additional material to be crushed and stacked on the leach pad thereafter. Further, subject to receiving certain land access approvals, the Company intends to expand the Veta Madre pit to exploit its 43k ounces of gold reserves. In addition, drilling is ongoing at Veta Madre Plus with the aim of adding this additional Indicated material into a near-term mine plan in short order.

Restart of mining at San Agustin. Preparation work to commence mining is underway at San Agustin from the Corner area following the receipt of all necessary approvals to restart mining in Q3. The Company anticipates stacking first ore in December with production from the Corner starting near year end and continuing into 2027. Recoverable reserves at the Corner are estimated at 44.5k ounces of gold.

Strong economics and continued drilling success at Ana Paula drive additional investment. On November 6, 2025, the Company announced the results of a Preliminary Economic Study (PEA) for Ana Paula. These showed attractive economics at a conservative gold price driven by production of 101koz/yr after ramp up at an average all-in sustaining cost of $1,011/oz. On the back of this positive outcome, the Company has announced its intention to complete the underground decline access to the deposit in 2026. Technical and regulatory programs are being advanced in parallel and will continue through 2026 to complete a bankable feasibility study in early 2027.

Preparation of updated technical reports. The Company announced the results of an updated technical report for the La Colorada Mine on October 17, 2025, and is concluding an updated prefeasibility study (‘PFS’) for the Cerro del Gallo Project. The Company plans to release the results of the Cerro del Gallo PFS in Q4 2025 and continues to advance the Ana Paula Project feasibility study.

Operational and Financial Results

Results are reported for the three months ended September 30, 2025, which corresponds to the second quarter of Heliostar’s fiscal reporting year 2026.

A summary of the Company’s consolidated operational and financial results for the reporting period is presented below:

Key Performance Metrics Q3 2025 Q3 2024
Operational
Gold produced 8,949 0
Gold equivalent ounces (‘GEOs’) produced 9,165 0
Gold sold 7,552 0
Gold equivalent ounces (‘GEOs’) sold 7,709 0
Cash cost1 per GEOs sold $1,500 0
All-in sustaining costs1 (‘AISC’) per GEOs sold $1,825 0
Financial (in ‘000s)
Revenues $26,765 0
Mine operating earnings $14,243 0
Exploration expenses $6,411 $1,865
Net income (loss) $1,256 ($3,770)
Cash $34,576 $720
Total assets $129,881 $21,273
Working Capital $46,700 ($4,393)

 

  1. Non-IFRS measure. Refer to the ‘Non-IFRS Measures’ section of this news release.

Operational Review

Consolidated Production and Costs

Q3 2025 was the Company’s fourth reporting period with metals production. The Company had no production in Q3 2024.

Production of 9,165 GEOs (8,949 gold ounces) for Q3 2025 was reported from the La Colorada mine and the San Agustin mine. In late Q2, the El Castillo mine ceased production and reclamation commenced at the start of Q3. The combined YTD 2025 production of 25,642 GEOs (24,988 gold ounces) is consistent with the 2025 guidance issued by the Company. Heliostar is on track to achieve the lower half of the 2025 production guidance of 31,000-41,000 GEOs with the several week delay in being able to restart San Agustin pushing production from that asset into 2026.

The combined cash costs for the producing operations were $1,500 per GEO sold, and the consolidated AISC was $1,825 per GEO sold. The combined cash costs and AISC are currently in line with the 2025 guidance issued by the Company. Full-year results are expected to be within the guidance range of $1,800-$1,950/GEO for Cash Costs and $1,950-$2,100/GEO for AISC.

La Colorada Mine

Operating results for Q3 2025 were as follows:

La Colorada Q3 2025 YTD 2025
Gold produced oz 5,311 12,883
Gold equivalent ounces (‘GEOs’) produced GEO 5,479 13,328
Gold sold oz 4,122 10,865
Gold equivalent ounces (‘GEOs’) sold GEO 4,229 11,205
Cash cost1 $/GEO sold 1,592 1,354
All-in sustaining costs1 (‘AISC’) $/GEO sold 1,648 1,439

 

In January 2025, mining of new ore restarted at the Junkyard Stockpile by the Company, alongside re-leach activities of ore stacked by previous operators.

During the reporting period, the La Colorada mine produced 5,479 GEOs (5,311 gold ounces). Total revenues of $14.7 million were reported from sales of 4,229 GEOs. The increase in production compared to Q2 was driven by higher grades placed on the leach pad and the first full quarter of solution flow from the leach pad after restart of operations. Production from the leach pad has increased steadily throughout the year and continues to meet all expected parameters.

For the reporting period, cash costs were $1,592 per GEO ($1,354 per GEO YTD 2025). AISC was $1,648 per GEO ($1,439 per GEO YTD 2025), on track to be at the lower end or below 2025 AISC guidance of $1,850-$1,975/GEO.

The Company plans to continue mining of the Junkyard Stockpile through 2025 and into 2026, with other historical stockpiles identified to provide additional, continued feed to the crushers thereafter. Further, subject to receiving certain land access approvals, the Company intends to expand the Veta Madre pit to exploit 43k ounces of gold reserve, which will be timed sequentially with the ore feeds from the historical stockpiles. Drilling is ongoing to define the mineralization at Veta Madre Plus, with the aim of bringing it into the near-term mine plan in short order.

Subsequent to the reporting period, Heliostar released the results of an updated technical report for La Colorada showing and increased resource and a lower capital expenditure. This showed a mine with a six-year life producing 286k gold ounces at an AISC of $1,626 per GEO. This resulted in upside case economics of an NPV5% of $243.3M and an IRR of 168.4% at a $3,500/oz gold price. For more details, see the press release here.

San Agustin Mine

Operating results for Q3 2025 were as follows:

San Agustin Q3 2025 YTD 2025
Gold produced oz 3,638 11,613
Gold equivalent ounces (‘GEOs’) produced GEO 3,686 11,815
Gold sold oz 3,430 12,182
Gold equivalent ounces (‘GEOs’) sold GEO 3,480 12,373
Cash cost1 $/GEO sold $ 1,389 1,437
All-in sustaining costs1 (‘AISC’) $/GEO sold $ 1,587 1,546

 

In September 2024, the previous owners of San Agustin placed the mine under care and maintenance, with metals production continuing from the re-leaching of leach pads.

During the reporting period, the San Agustin mine produced 3,686 GEOs (3,638 gold ounces). Total revenues of $12.1 million were reported from sales of 3,480 GEOs. Re-leaching performance continued well above expectations in the quarter as a result of enhanced recovery initiatives conducted earlier in the year. Gold production through the first nine months of the year exceeded full-year 2025 guidance for re-leaching from the mine.

For the reporting period, cash costs were $1,389 per GEO ($1,437 per GEO YTD 2025). AISC was $1,587 per GEO ($1,546 per GEO YTD 2025), YTD on track to achieve full year AISC guidance of $1,700-$1,850/GEO.

During the quarter, the Company completed all regulatory requirements to enable the restart of mining at San Agustin from the Corner area (see News Release dated July 22, 2025). Work to commence mining of the Corner Area cut back was undertaken subsequently, including moving road access, a power line and contractor selection. First ore is on track to be stacked on the leach pad in the coming weeks. Initial gold production from this new material is expected to start near year end 2025 and continue into 2027. Recoverable reserves at the Corner are estimated at 44.5k ounces of gold.

Ana Paula Project

Development and Exploration expenditures at the flagship Ana Paula Project were $3.9 million in Q3 2025 ($1.8 million in Q3 2024).

During Q3 2025, the Company progressed its ongoing 15,000 metre drilling program at Ana Paula with the objective of delivering mineral reserves to support a 10-year life of mine in the Feasibility Study planned to be released in 1H 2027. On October 6, 2025, the Company announced results from the infill drill program (including 88.1m metres at 8.82 g/t) and the addition of a third rig. Subsequent to quarter end on November 18, 2025, the Company announced additional infill results of 83.2m of 17.4 g/t and 70.7m of 9.38 g/t. The drill program continues to successfully define wide zones of high grade mineralization.

Subsequent to the reporting period, Heliostar released the results of a Preliminary Economic Study (PEA) for Ana Paula showing strong economics at a conservative gold price. This showed a mine with a nine year life producing 101koz/yr after ramp up at an AISC of $1,011/oz. This resulted in upside case economics of an NPV5% of $1,012M, an IRR of 51.3% and average annual after-tax free cash flow of $168M at a $3,800/oz gold price. For more details, see the press release here.

Cerro del Gallo Project

During Q3 2025, the Company conducted advanced study work towards releasing a prefeasibility study for the Cerro del Gallo project based on information collected by previous owners. This work includes updated resources and reserves based on an updated gold price as well as better definition of transition material and an optimized mining and stacking plan. The results of this study are planned to be released in the coming weeks. All major environmental and other permits will need to be obtained before an investment decision can be considered by the Company.

Funding Overview

In the three months ended September 30, 2025, 5,916,250 warrants and 766,250 stock options were exercised for total proceeds of $1.5 million and 1,299,579 RSUs were converted.

As of September 30, 2025, the Company had no debt.

Change of Year End

The Company has changed its financial year-end from March 31 of each year to December 31 of each year. The next financial year-end of the Company will occur on December 31, 2025, for the nine months then ended.

Non-IFRS Measures. This news release refers to certain financial measures, such as all-in-sustaining costs, which are not measures recognized under IFRS and do not have a standardized meaning prescribed by IFRS. These measures may differ from those made by other companies and, accordingly, may not be comparable to such measures as reported by other companies. These measures have been derived from the Company’s financial statements because the Company believes that they are of assistance in understanding the results of operations and its financial position. Certain additional disclosures for these specified financial measures have been incorporated by reference and can be found in the Company’s MD&A for Q3 2025, available on SEDAR+.

Cash costs. The Company uses cash costs per gold equivalent ounce sold to monitor its operating performance internally. The most directly comparable measure prepared in accordance with IFRS is cost of sales. The Company believes this measure provides investors and analysts with useful information about its underlying cash costs of operations. The Company also believes it is a relevant metric used to understand its operating profitability and ability to generate cash flow. Cash costs are measures developed by metals companies in an effort to provide a comparable standard; however, there can be no assurance that the Company’s reporting of these non-GAAP financial measures are similar to those reported by other mining companies. They are widely reported in the metals mining industry as a benchmark for performance, but do not have a standardized meaning and are disclosed in addition to IFRS measures. Cash costs include production costs, refinery and transportation costs and extraordinary mining duty. Cash costs exclude non-cash depreciation and depletion and site share-based compensation. Production costs include mining, crushing, processing, and direct overhead at the operation sites.

AISC. AISC more fully defines the total costs associated with producing precious metals. The AISC is calculated based on guidelines published by the World Gold Council (WGC), which were first issued in 2013. In light of new accounting standards and to support further consistency of application, the WGC published an updated Guidance Note in 2018. Other companies may calculate this measure differently because of differences in underlying principles and policies applied. Differences may also arise due to a different definition of sustaining versus growth capital. Note that in respect of AISC metrics within the technical reports, because such economics are disclosed at the project level, corporate general and administrative expenses were not included in the AISC calculations. AISC per GEO includes mining, processing, direct overhead, reclamation and sustaining capital.

Statement of Qualified Persons

Gregg Bush, P.Eng., Mike Gingles, and Stewart Harris, P. Geo., Qualified Persons, as such term is defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, have reviewed the scientific and technical information that forms the basis for this news release and have approved the disclosure herein. Mr. Bush is employed as Chief Operating Officer of the Company, Mr. Gingles is employed as Vice President of Corporate Development, and Mr. Harris is employed as Exploration Manager.

About Heliostar Metals Ltd.

Heliostar aims to grow to become a mid-tier gold producer. The Company is focused on increasing production and developing new resources at the La Colorada and San Agustin mines in Mexico, and on developing the 100% owned Ana Paula Project in Guerrero, Mexico.

FOR ADDITIONAL INFORMATION, PLEASE CONTACT:

Charles Funk
President and Chief Executive Officer
Heliostar Metals Limited
Email: charles.funk@heliostarmetals.com
Phone: +1 844-753-0045		 Rob Grey
Investor Relations Manager
Heliostar Metals Limited
Email: rob.grey@heliostarmetals.com
Phone: +1 844-753-0045

 

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

Cautionary Statement Regarding Forward-Looking Information
This news release includes certain ‘Forward-Looking Statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995 and ‘forward-looking information’ under applicable Canadian securities laws. When used in this news release, the words ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘target’, ‘plan’, ‘forecast’, ‘may’, ‘would’, ‘could’, ‘schedule’ and similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information relate to, among other things: the Company’s goal of becoming a mid-tier producer, the mine performance, production plans and the free cashflow generation from our operating mines, all profits generated from operations to be reinvested directly into our Companies growth and this reinvestment will focus on expanding production and growing resources across our portfolio.

Forward-looking statements and forward-looking information relating to the terms and completion of the Facility, any future mineral production, liquidity, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the receipt of necessary approvals, price of metals; no escalation in the severity of public health crises or ongoing military conflicts; costs of exploration and development; the estimated costs of development of exploration projects; and the Company’s ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect the Company’s respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements or forward-looking information and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: precious metals price volatility; risks associated with the conduct of the Company’s mining activities in foreign jurisdictions; regulatory, consent or permitting delays; risks relating to reliance on the Company’s management team and outside contractors; risks regarding exploration and mining activities; the Company’s inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of public health crises; the economic and financial implications of public health crises, ongoing military conflicts and general economic factors to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company’s interactions with surrounding communities; the Company’s ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption ‘Risk Factors’ in the Company’s public disclosure documents. Readers are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275395

News Provided by Newsfile via QuoteMedia

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