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Top 9 Global Lithium Stocks of 2025

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Lithium prices continued their downward trajectory in Q2 2025, with battery-grade lithium carbonate hitting a four-year low of US$8,329 per metric ton in late June.

Lithium hydroxide followed suit, as oversupply and bearish sentiment weighed on the market.

Despite strong electric vehicle (EV) demand, mined supply — driven largely by China, Australia, Argentina and emerging African producers — has outpaced consumption, with Fastmarkets forecasting a 260,000 metric ton surplus for 2025.

“The industry is navigating a period of complexity,” said Paul Lusty, head of battery raw materials at Fastmarkets, speaking at the firm’s June lithium conference.

Still, he emphasized that long-term fundamentals remain “anchored in mega trends,” including the global energy transition, AI expansion and climate change mitigation.

In China, production ramp-ups and new fair competition rules have added volatility, while US policy uncertainty under the Trump administration has dampened investor sentiment. Brief price rebounds in July, spurred by speculation over supply cuts, were short-lived, reflecting the market’s sensitivity to rumors over fundamentals.

Even with near-term headwinds, analysts say the structural case for lithium is solid, offering opportunities for long-term-focused investors.

Against this backdrop, some lithium stocks are seeing share price gains. Below, we profile the lithium stocks in Canada, Australia and the US that have performed the best so far in 2025, updating investors on the lithium companies’ news and activities.

This list of the top-gaining lithium companies is based on year-to-date as per TradingView’s stock screener. Data for Canadian stocks and US stocks was collected on July 22, 2025, and data for Australian stocks was gathered on July 23, 2025. Lithium stocks with market caps above $10 million in their respective currencies were considered.

Top Canadian lithium stocks

1. NOA Lithium Brines (TSXV:NOAL)

Year-to-date gain: 58.82 percent
Market cap: C$488.32 million
Share price: C$0.30

NOA is a lithium exploration and development company with three projects in Argentina’s Lithium Triangle region. The company’s flagship Rio Grande project and prospective Arizaro and Salinas Grandes land packages total more than 140,000 hectares.

As NOA works to advance its flagship asset, the company brought on Hatch in April to lead the preliminary economic assessment (PEA).

The PEA will evaluate the project’s economic and development potential with a target production of 20,000 metric tons of lithium carbonate equivalent (LCE) annually, with a scalable plant design that could double capacity to 40,000 metric tons per year.

NOA has also been working to secure a water source in the arid region through a drilling program targeting fresh water. In late June, the company discovered a fresh water source at the project, located near high-grade lithium zones in the project’s northeast area. According to the company, the location means the water source could support future production facilities or evaporation ponds.

The well, drilled to 190 meters in the northern part of the property, is being tested and developed.

Shares of NOA reached a year-to-date high C$0.425 on July 17, 2025.

2. Wealth Minerals (TSXV:WML)

Year-to-date gain: 40 percent
Market cap: C$23.93 million
Share price: C$0.07

Wealth Minerals is focused on the acquisition and development of lithium projects in Chile, including the Yapuckuta project in Chile’s Salar de Atacama, as well as the Kuska Salar and Pabellón projects near the Salar de Ollagüe.

Wealth Minerals’ shares spiked to a year-to-date high of C$0.095 on February 9, 2025, following the company’s acquisition of the Pabellón project.

According to Wealth, Pabellón has been shortlisted by Chile’s Ministry of Mining as a potential site for a Special Lithium Operation Contract based on its geological and environmental suitability. Located in Northern Chile near the Bolivia border, the project spans 7,600 hectares across 26 exploration licenses about 70 kilometers south of the Salar de Ollagüe.

In May, Wealth formed a joint venture with the Quechua Indigenous Community of Ollagüe to advance the Kuska project. The new entity, Kuska Minerals SpA, is 95 percent owned by Wealth and 5 percent by the community, which also holds anti-dilution rights and a seat on the five-member board.

3. Avalon Advanced Materials (TSX:AVL)

Year-to-date gain: 37.5 percent
Market cap: C$38.26 million
Share price: C$0.055

Avalon Advanced Materials is a Canadian mineral development company focusing on integrating the Ontario lithium supply chain. Avalon is developing the Separation Rapids and Snowbank lithium projects near Kenora, Ontario, and the Lilypad lithium-cesium project near Fort Hope, Ontario.

Separation Rapids and Lilypad are part of a 40/60 joint venture between Avalon and SCR Sibelco, with Sibelco serving as the operator.

Avalon started the year with a revised mineral resource estimate for the Separation Rapids project, which boosted resources in the measured and indicated category by 28 percent.

Company shares rose to C$0.07, a year-to-date high, on July 15, the day after Avalon released its results for its fiscal quarter ended May 31.

A week later, Avalon announced an additional C$1.3 million in funding through its C$15 million convertible security agreement with Lind Global Fund II. The drawdown, expected to close within two weeks, will support project development and general corporate needs, according to the company.

Top US lithium stocks

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.

Top Australian lithium stocks

1. Jindalee Lithium (ASX:JLL)

Year-to-date gain: 123.26 percent
Market cap: AU$35.94 million
Share price: AU$0.48

Perth-based Jindalee Lithium is currently focused on its McDermitt lithium project, which it regards as a potential low-cost and long-life lithium source for North America.

On April 22, McDermitt was declared among the US Trump administration’s first 10 resource projects designated as Fast-41 Transparency Projects, which is intended to fast track resource projects important to the US’s critical minerals supply chain. The designation secures publicly accessible permitting timelines and enhances interagency cooperation for the project.

Shares of Jindalee Lithium spiked to a year-to-date high of AU$0.565 April 30, the day after Jindalee released its March 2025 quarterly activities report.

On July 10, Jindalee announced a memorandum of understanding with US-based LiChem Operations, which is developing its lithium refining process for battery grade lithium. Jindalee will initially supply LiChem with 100 kilograms of ore from McDermitt for testwork.

If both companies are satisfied with the result, Jindalee will provide up to 20 metric tons of further ore to LiChem in stages. There is also potential for Jindalee to negotiate for a license to use LiChem’s process in place of the sulfuric acid flowsheet from its prefeasibility study.

2. Liontown Resources (ASX:LTR)

Year-to-date gain: 75.47 percent
Market cap: AU$2.34 billion
Share price: AU$0.93

Liontown Resources has two assets in Western Australia, including the producing Kathleen Valley mine and processing plant. The mine entered open-pit production during the second half of 2024, and the plant reached commercial production in January 2025.

The company is currently transitioning from open-pit to underground mining operations at Kathleen Valley. Underground production stoping kicked off in April of this year, making Kathleen Valley Western Australia’s first underground lithium mine.

Liontown also owns the Buldania lithium project in the Eastern Goldfields province of Western Australia. The project has an initial mineral resource of 15 million metric tons at 1.0 percent lithium oxide.

On June 30, Liontown announced executive leadership changes, appointing Graeme Pettit as interim chief financial officer and Ryan Hair as chief operating officer after CFO Jon Latto and COO Adam Smits decided to step down from the positions.

The company released its fiscal 2025 results on July 29, reporting that Kathleen Valley produced over 300,000 wet metric metric tons of spodumene concentrate during its first 11 months of operations.

Shares of Liontown Resources reached a year-to-date high of AU$1.03 on July 21.

3. Anson Resources (ASX:ASN)

Year-to-date gain: 57.14 percent
Market cap: AU$145.61 million
Share price: AU$0.11

Newport Beach-based Anson Resources is advancing development of its flagship Paradox lithium project and its Green River lithium project, both located the Paradox Basin of Utah, US. It plans to produce lithium from the projects using direct lithium extraction (DLE).

Anson Resources has shared significant developments at Green River this year. According to its March quarterly activities report, the company completed a DLE pilot program with Koch Technology Solutions, producing 43,000 gallons of lithium chloride eluate with an average lithium recovery of 98 percent from brine extracted from Green River’s Bosydaba #1 well.

A June maiden JORC mineral resource for Green River estimated 103,000 metric tons of lithium carbonate equivalent based solely on drilling at the Bosydaba #1 well. The prior month, the company negotiated a lower royalty rate agreement with the Utah government.

On July 1, the company announced it signed a non-binding memorandum of understanding with POSCO Holdings (NYSE:PKX,KRX:005490) to co-develop a DLE demonstration plant at Green River, which POSCO will fully fund.

Anson Resources’ share price spiked in mid-July, ultimately climbing to a year-to-date high of AU$0.11 on July 21, following a pair of announcements.

On July 14, Anson reported it shipped about 2 tons of lithium brine to POSCO in South Korea for test work and due diligence. Two days later, it announced that its polishing system, which is installed at Green River, successfully reduced the minor contaminants from the lithium chloride eluate produced in the KOCH DLE pilot program.

FAQs for investing in lithium

How much lithium is on Earth?

While we don’t know how much total lithium is on Earth, the US Geological Survey estimates that global reserves of lithium stand at 22 billion metric tons. Of that, 9.2 billion MT are located in Chile, and 5.7 billion MT are in Australia.

Where is lithium mined?

Lithium is mined throughout the world, but the two countries that produce the most are Australia and Chile. Australia’s lithium comes from primarily hard-rock deposits, while Chile’s comes from lithium brines. Chile is part of the Lithium Triangle alongside Argentina and Bolivia, although those two countries have a lower annual output.

Rounding out the top five lithium-producing countries behind Australia and Chile are China, Argentina and Brazil.

What is lithium used for?

Lithium has many uses, including the lithium-ion batteries that power electric vehicles, smartphones and other tech, as well as pharmaceuticals, ceramics, grease, lubricants and heat-resistant glass. Still, it is largely the electric vehicle industry that is boosting demand.

How to invest in lithium?

Those looking to get into the lithium market have many options when it comes to how to invest in lithium.

Lithium stocks like those mentioned above could be a good option for investors interested in the space. If you’re looking to diversify instead of focusing on one stock, there is the Global X Lithium & Battery Tech ETF (NYSE:LIT), an exchange-traded fund (ETF) focused on the metal. Experienced investors can also look at lithium futures.

Unlike many commodities, investors cannot physically hold lithium due to its dangerous properties.

How to buy lithium stocks?

Through the use of a broker or an investing service such as an app, investors can purchase lithium stocks and ETFs that match their investing outlook.

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

It’s also important for investors to keep their goals in mind when choosing their investing method. There are many factors to consider when choosing a broker, as well as when looking at investing apps — a few of these include the broker or app’s reputation, their fee structure and investment style.

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

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

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Junk food banned from SNAP benefits in 6 more states, a win for MAHA advocates

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In a win for Make America Healthy Again (MAHA) advocates, six more states have gotten waivers allowing them to ban soda, candy and other high-sugar junk foods from being purchased through the federally funded, but state-operated Supplemental Nutrition Assistance Program, known as SNAP. 

The waivers, which amend the statutory definition of eligible food for purchase under SNAP, were granted to West Virginia, Florida, Colorado, Louisiana, Oklahoma and Texas. The new restrictions on what can and cannot be purchased will go into effect in 2026.

The six new waivers bring the number of states that have sought to restrict SNAP purchases of junk food to 12. The other states who received waivers from the Trump administration earlier this year were Nebraska, Iowa, Indiana, Arkansas, Idaho and Utah.

‘For years, SNAP has used taxpayer dollars to fund soda and candy, products that fuel America’s diabetes and chronic disease epidemics,’ Health Secretary Robert F. Kennedy Jr. said

‘These waivers help put real food back at the center of the program and empower states to lead the charge in protecting public health.’

Agriculture Secretary Brooke Rollins has praised the historic efforts that states, mostly those with Republican leadership, have made to help improve the health and nutrition assistance provided through SNAP. 

On average, 42 million low-income Americans receive food stamp assistance each month, including one in five American children under 17, according to a report from the Trump administration released earlier this year.

‘It is incredible to see so many states take action at this critical moment in our nation’s history and do something to begin to address chronic health problems,’ Rollins said after the latest announcement of new waivers. ‘President Trump has changed the status quo, and the entire Cabinet is taking action to Make America Healthy Again. … These state waivers promote healthier options for families in need.’

Of the 12 states that have been granted SNAP waivers thus far, all of them will restrict SNAP funds from being used to purchase sugary drinks, including soda, while at least eight of the states have indicated plans to ban SNAP funds for candy purchases. Some states, such as Florida, Louisiana and Nebraska, will explicitly ban energy drinks as well, while others, like Arkansas, have indicated drinks with less than 50% natural juice will be banned. 

ABC News medical correspondent Darien Sutton argued the move, although pushed as an effort to improve health outcomes, lacks evidence.

‘There’s no evidence that taking away access to soda will actually fight these conditions,’ he said, according to ABC News. ‘Sugar is one of those culprits that you always have to be mindful of.’ 

Sutton pointed out that U.S. dietary guidelines recommend that men do not have more than 35 grams of sugar per day, while women are told to limit it to 25 grams per day. 


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Alvopetro Announces Q2 2025 Financial Results and an Operational Update

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Alvopetro Energy Ltd. (TSXV: ALV,OTC:ALVOF) (OTCQX: ALVOF) announces an operational update and financial results for the three and six months ended June 30 2025.

All references herein to $ refer to United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.

President & CEO, Corey C. Ruttan commented:

‘Q2 included our first quarter of sales from our recently added Western Canadian assets and overall sales volumes continued to be very strong averaging 2,436 boepd, up 50% from Q2 2024, and consistent with Q1 2025. We have a considerable amount of activity underway and we are looking forward to an exciting Q3 with the completion and tie-in of our 183-D4 well, our Caburé Unit development wells, and our two most recently drilled multi-lateral wells in Western Saskatchewan . Our 2025 capital program is organically funded and focused on high rate of return opportunities in Brazil and also now in the Western Canadian Sedimentary Basin.’

Operational Update

July Sales Volumes

Natural gas, NGLs and crude oil sales:

July

2025

June

2025

Q2

2025

Brazil:

Natural gas (Mcfpd), by field:

Caburé

11,122

11,804

11,811

Murucututu

1,751

1,446

1,191

Total natural gas (Mcfpd)

12,873

13,250

13,002

NGLs (bopd)

130

147

128

Oil (bopd)

9

9

3

Total (boepd) – Brazil

2,284

2,365

2,298

Canada:

Oil (bopd) – Canada

134

149

138

Total Company – boepd (1)

2,418

2,514

2,436

(1) Alvopetro reported volumes are based on sales volumes which, due to the timing of sales deliveries, may differ from production volumes.

July sales volumes averaged 2,418 boepd, including 2,284 boepd from Brazil (with natural gas sales of 12.9 MMcfpd, associated natural gas liquids sales from condensate of 130 bopd, and oil sales of 9 bopd) and 134 bopd from oil sales in Canada , based on field estimates.

Quarterly Natural Gas Pricing Update

Effective August 1, 2025 , our natural gas price under our long-term gas sales agreement was adjusted to BRL1.90 /m 3 and will apply to all natural gas sales from August 1, 2025 to October 31, 2025 . Based on our average heat content to date and the July 31, 2025 BRL/USD exchange rate of 5.60, our expected realized price at the new contracted price is $10.27 /Mcf, net of applicable sales taxes, a decrease of 3% from the Q2 2025 realized price of $10.62 /Mcf due mainly to reduced Henry Hub and Brent prices in the second quarter. Amounts ultimately received in equivalent USD will be impacted by exchange rates in effect during the period August 1, 2025 to October 31, 2025 .

Development Activities – Brazil

On our 100% owned Murucututu field, the 183-D4 well was drilled in the second quarter to a total measured depth of 3,072 metres. The well encountered the Caruaçu Member of the Maracangalha Formation 106 metres structurally updip of our 183-A3 well which has been on production since the fourth quarter of 2024.  Based on cased-hole gamma ray logs and normalized gas while drilling, the well encountered potential natural gas pay in the Caruaçu Member of the Maracangalha Formation, with an aggregate 61 metres total vertical depth (‘TVD’) of potential natural gas pay between 2,439 and 2,838 meters TVD. We’ve now completed the well in seven intervals and expect to have the well on production later in the third quarter. A total of $3.3 million of capital expenditures are estimated on the field in the second half of 2025, including costs for the 183-D4 completion.

Our joint development on the unitized area (‘the Unit’) which includes our Caburé field commenced in the second quarter and three wells (1.7 net) have now been drilled. The fourth well (0.6 net) is expected to be drilled later in the third quarter. Alvopetro’s share of these planned unit development costs in the second half of 2025 is anticipated to be $5.5 million . The timing of drilling the fifth development well (0.6 net) is subject to the receipt of all necessary regulatory approvals.

Development Activities – Western Canada

In June, we further expanded our joint Mannville focused land based to 17,780 gross acres (8,890 net acres) and in July, two additional multi-lateral wells (1.0 net) were drilled with an aggregate of over 19 kilometers of open hole reservoir contact. Both wells will now be completed and equipped and are expected to be on production later in the third quarter. We expect to drill our next two multi-lateral wells (1.0 net) starting later this year.

Financial and Operating Highlights – Second Quarter of 2025

  • Average daily sales in Q2 2025 were 2,436 boepd (+50% from Q2 2024 and consistent with Q1 2025 sales of 2,446 boepd). In Brazil , daily sales averaged 2,298 boepd (+41% compared to Q2 2024) and in Canada , oil sales commenced in April 2025 , contributing 138 bopd in the quarter.
  • Our average realized natural gas price was $10.62 /Mcf in Q2 2025 (-10% from Q2 2024 and +2% from Q1 2025). Our overall averaged realized sales price per boe was $63.20 /boe (-12% from Q2 2024 and -1% from Q1 2025).
  • With higher sales volumes, our natural gas, oil and condensate revenue increased to $14.0 million (+31% from Q2 2024).
  • Our operating netback in the quarter was $54.72 per boe, a decrease of $9.58 per boe compared to Q2 2024 due mainly to lower realized sales prices as well as higher royalties. Compared to Q1 2025, our operating netback increased $3.95 per boe with lower royalties partially offset by lower realized prices.
  • We generated funds flows from operations of $10.4 million ( $0.28 per basic and $0.27 per diluted share), increases of $2.5 million compared to Q2 2024 and $1.1 million compared to Q1 2025.
  • We reported net income of $6.8 million ( $0.18 per basic and diluted share), an increase of $4.5 million compared to Q2 2024 due to higher sales volumes as well as foreign exchange gains (compared to foreign exchange losses in Q2 2024), partially offset by lower realized prices and higher royalties, production expenses, depletion and depreciation expense and tax expense.
  • Capital expenditures totaled $9.0 million , including drilling costs for the 183-D4 well on Alvopetro’s 100% Murucututu field as well as Alvopetro’s share of costs incurred on unit development, including costs for two (1.1 net) of five development wells (2.8 net) which commenced drilling in the quarter.
  • Our working capital surplus was $6.8 million as of June 30, 2025 , decreasing $2.9 million from March 31, 2025 .

The following table provides a summary of Alvopetro’s financial and operating results for the periods noted. The consolidated financial statements with the Management’s Discussion and Analysis (‘MD&A’) are available on our website at www.alvopetro.com and will be available on the SEDAR+ website at www.sedarplus.ca .

As at and Three Months Ended

June 30,

As at and Six Months Ended

June 30,

2025

2024

Change

2025

2024

Change (%)

Financial

($000s, except where noted)

Natural gas, oil and condensate sales

14,010

10,672

31

28,023

22,424

25

Net income

6,830

2,350

191

12,900

6,900

87

Per share – basic ($) (1)

0.18

0.06

200

0.35

0.19

84

Per share – diluted ($) (1)

0.18

0.06

200

0.34

0.18

89

Cash flows from operating activities

10,473

8,860

18

19,290

17,073

13

Per share – basic ($) (1)

0.28

0.24

17

0.52

0.46

13

Per share – diluted ($) (1)

0.28

0.24

17

0.51

0.45

13

Funds flow from operations (2)

10,366

7,910

31

19,588

16,423

19

Per share – basic ($) (1)

0.28

0.21

33

0.53

0.44

20

Per share – diluted ($) (1)

0.27

0.21

29

0.52

0.44

18

Dividends declared

3,660

3,296

11

7,303

6,592

11

Per share (1) (2)

0.10

0.09

11

0.20

0.18

11

Capital expenditures

8,986

3,437

161

17,361

5,876

195

Cash and cash equivalents

15,001

19,681

(24)

15,001

19,681

(24)

Net working capital (2)

6,838

14,692

(53)

6,838

14,692

(53)

Weighted average shares outstanding

Basic (000s) (1)

37,261

37,286

–

37,278

37,282

–

Diluted (000s) (1)

37,795

37,600

1

37,770

37,647

–

Operations

Average daily sales volumes (3) :

Brazil:

Natural gas (Mcfpd), by field:

Caburé (Mcfpd)

11,811

8,822

34

11,761

9,029

30

Murucututu (Mcfpd)

1,191

422

182

1,639

426

285

Total natural gas (Mcfpd)

13,002

9,244

41

13,400

9,455

42

NGLs – condensate (bopd)

128

76

68

131

77

70

Oil (bopd)

3

12

(75)

7

12

(42)

Total (boepd) – Brazil

2,298

1,629

41

2,371

1,665

42

Canada:

Oil (bopd) – Canada

138

–

–

69

–

–

Total Company (boepd)

2,436

1,629

50

2,440

1,665

47

Average realized prices (2) :

Natural gas ($/Mcf)

10.62

11.83

(10)

10.53

12.21

(14)

NGLs – condensate ($/bbl)

72.32

92.27

(22)

76.78

90.06

(15)

Oil ($/bbl)

47.10

71.87

(34)

48.31

68.54

(30)

Total ($/boe)

63.20

71.97

(12)

63.43

74.00

(14)

Operating netback ($/boe) (2)

Realized sales price

63.20

71.97

(12)

63.43

74.00

(14)

Royalties

(2.97)

(1.94)

53

(5.28)

(1.98)

167

Production expenses

(5.37)

(5.73)

(6)

(5.34)

(6.77)

(21)

Transportation expenses

(0.14)

–

–

(0.07)

–

–

Operating netback

54.72

64.30

(15)

52.74

65.25

(19)

Operating netback margin (2)

87 %

89 %

(2)

83 %

88 %

(6)

Notes:

(1)

Per share amounts are based on weighted average shares outstanding other than dividends per share, which is based on the number of common shares outstanding at each dividend record date. The weighted average number of diluted common shares outstanding in the computation of funds flow from operations and cash flows from operating activities per share is the same as for net income per share.

(2)

See ‘Non-GAAP and Other Financial Measures’ section within this news release.

(3)

Alvopetro reported volumes are based on sales volumes which, due to the timing of sales deliveries, may differ from production volumes.

Q2 2025 Results Webcast

Alvopetro will host a live webcast to discuss our Q2 2025 financial results at 8:00 am Mountain time on Thursday August 7, 2025. Details for joining the event are as follows:

DATE: August 7, 2025
TIME : 8:00 AM Mountain/ 10:00 AM Eastern
LINK: https://us06web.zoom.us/j/87200931927
DIAL-IN NUMBERS: https://us06web.zoom.us/u/kdLidYPIoO
WEBINAR ID: 872 0093 1927

The webcast will include a question-and-answer period. Online participants will be able to ask questions through the Zoom portal. Dial-in participants can email questions directly to socialmedia@alvopetro.com .

Corporate Presentation

Alvopetro’s updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation .

Social Media

Follow Alvopetro on our social media channels at the following links:

Twitter – https://twitter.com/AlvopetroEnergy
Instagram – https://www.instagram.com/alvopetro/
LinkedIn – https://www.linkedin.com/company/alvopetro-energy-ltd

Alvopetro Energy Ltd. is deploying a balanced capital allocation model where we seek to reinvest roughly half our cash flows into organic growth opportunities and return the other half to stakeholders. Alvopetro’s organic growth strategy is to focus on the best combinations of geologic prospectivity and fiscal regime. Alvopetro is balancing capital investment opportunities in Canada and Brazil where we are building off the strength of our Caburé and Murucututu natural gas fields and the related strategic midstream infrastructure.

Neither the 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 news release.

Abbreviations:

$000s

=

thousands of U.S. dollars

boepd

=

barrels of oil equivalent (‘boe’) per day

bopd

=

barrels of oil and/or natural gas liquids (condensate) per day

BRL

=

Brazilian Real

e 3 m 3 /d

=

thousand cubic metre per day

m 3

=

cubic metre

m 3 /d

=

cubic metre per day

Mcf

=

thousand cubic feet

Mcfpd

=

thousand cubic feet per day

MMcf

=

million cubic feet

MMcfpd

=

million cubic feet per day

NGLs

=

natural gas liquids (condensate)

Q1 2025

=

three months ended March 31, 2025

Q2 2024

=

three months ended June 30, 2024

Q2 2025

=

three months ended June 30, 2025

USD

=

United States dollars

GAAP or IFRS

=

IFRS Accounting Standards

Non-GAAP and Other Financial Measures

This news release contains references to various non-GAAP financial measures, non-GAAP ratios, capital management measures and supplementary financial measures as such terms are defined in National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure . Such measures are not recognized measures under GAAP and do not have a standardized meaning prescribed by IFRS and might not be comparable to similar financial measures disclosed by other issuers. While these measures may be common in the oil and gas industry, the Company’s use of these terms may not be comparable to similarly defined measures presented by other companies. The non-GAAP and other financial measures referred to in this report should not be considered an alternative to, or more meaningful than measures prescribed by IFRS and they are not meant to enhance the Company’s reported financial performance or position. These are complementary measures that are used by management in assessing the Company’s financial performance, efficiency and liquidity and they may be used by investors or other users of this document for the same purpose. Below is a description of the non-GAAP financial measures, non-GAAP ratios, capital management measures and supplementary financial measures used in this news release. For more information with respect to financial measures which have not been defined by GAAP, including reconciliations to the closest comparable GAAP measure, see the ‘ Non-GAAP Measures and Other Financial Measures ‘ section of the Company’s MD&A which may be accessed through the SEDAR+ website at www.sedarplus.ca .

Non-GAAP Financial Measures

Operating Netback

Operating netback is calculated as natural gas, oil and condensate revenues less royalties, production expenses, and transportation expenses. This calculation is provided in the ‘ Operating Netback ‘ section of the Company’s MD&A using our IFRS measures. The Company’s MD&A may be accessed through the SEDAR+ website at www.sedarplus.ca . Operating netback is a common metric used in the oil and gas industry used to demonstrate profitability from operations.

Non-GAAP Financial Ratios

Operating Netback per boe

Operating netback is calculated on a per unit basis, which is per barrel of oil equivalent (‘boe’). It is a common non-GAAP measure used in the oil and gas industry and management believes this measurement assists in evaluating the operating performance of the Company. It is a measure of the economic quality of the Company’s producing assets and is useful for evaluating variable costs as it provides a reliable measure regardless of fluctuations in production. Alvopetro calculated operating netback per boe as operating netback divided by total sales volumes (boe). This calculation is provided in note 3 of the interim condensed consolidated financial statements and in the ‘ Operating Netback ‘ section of the Company’s MD&A using our IFRS measures. The Company’s MD&A may be accessed through the SEDAR+ website at www.sedarplus.ca . Operating netback is a common metric used in the oil and gas industry used to demonstrate profitability from operations on a per boe basis.

Operating netback margin

Operating netback margin is calculated as operating netback per boe divided by the realized sales price per boe. Operating netback margin is a measure of the profitability per boe relative to natural gas, oil and condensate sales revenues per boe and is calculated as follows:

Three Months Ended June 30,

Six Months Ended June 30,

2025

2024

2025

2024

Operating netback – $ per boe

54.72

64.30

52.74

65.25

Average realized price – $ per boe

63.20

71.97

63.43

74.00

Operating netback margin

87 %

89 %

83 %

88 %

Funds Flow from Operations Per Share

Funds flow from operations per share is a non-GAAP ratio that includes all cash generated from operating activities and is calculated before changes in non-cash working capital, divided by the weighted average shares outstanding for the respective period. For the periods reported in this news release the cash flows from operating activities per share and funds flow from operations per share is as follows:

Three Months Ended June 30,

Six Months Ended June 30,

$ per share

2025

2024

2025

2024

Per basic share:

Cash flows from operating activities

0.28

0.24

0.52

0.46

Funds flow from operations

0.28

0.21

0.53

0.44

Per diluted share:

Cash flows from operating activities

0.28

0.24

0.51

0.45

Funds flow from operations

0.27

0.21

0.52

0.44

Capital Management Measures

Funds Flow from Operations

Funds flow from operations is a non-GAAP capital management measure that includes all cash generated from operating activities and is calculated before changes in non-cash working capital. The most comparable GAAP measure to funds flow from operations is cash flows from operating activities. Management considers funds flow from operations important as it helps evaluate financial performance and demonstrates the Company’s ability to generate sufficient cash to fund future growth opportunities. Funds flow from operations should not be considered an alternative to, or more meaningful than, cash flows from operating activities however management finds that the impact of working capital items on the cash flows reduces the comparability of the metric from period to period. A reconciliation of funds flow from operations to cash flows from operating activities is as follows:

Three Months Ended June 30,

Six Months Ended June 30,

2025

2024

2025

2024

Cash flows from operating activities

10,473

8,860

19,290

17,073

Changes in non-cash working capital

(107)

(950)

298

(650)

Funds flow from operations

10,366

7,910

19,588

16,423

Net Working Capital

Net working capital is computed as current assets less current liabilities. Net working capital is a measure of liquidity, is used to evaluate financial resources, and is calculated as follows:

As at June 30,

2025

2024

Total current assets

22,915

25,300

Total current liabilities

(16,077)

(10,608)

Net working capital

6,838

14,692

Supplementary Financial Measures

‘ Average realized natural gas price – $/Mcf ‘ is comprised of natural gas sales as determined in accordance with IFRS, divided by the Company’s natural gas sales volumes.

‘ Average realized NGL – condensate price – $/bbl ‘ is comprised of condensate sales as determined in accordance with IFRS, divided by the Company’s NGL sales volumes from condensate.

‘ Average realized oil price – $/bbl ‘ is comprised of oil sales as determined in accordance with IFRS, divided by the Company’s oil sales volumes.

‘ Average realized price – $/boe ‘ is comprised of natural gas, condensate and oil sales as determined in accordance with IFRS, divided by the Company’s total natural gas, NGL and oil sales volumes (barrels of oil equivalent).

‘ Dividends per share ‘ is comprised of dividends declared, as determined in accordance with IFRS, divided by the number of shares outstanding at the dividend record date.

‘ Royalties per boe ‘ is comprised of royalties, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent).

‘ Production expenses per boe ‘ is comprised of production expenses, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent).

‘ Transportation expenses per boe ‘ is comprised of transportation expenses, as determined in accordance with IFRS, divided by the total natural gas, NGL and oil sales volumes (barrels of oil equivalent).

BOE Disclosure

The term barrels of oil equivalent (‘boe’) may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6 Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.

Contracted Natural Gas Volumes

The 2025 contracted daily firm volumes under Alvopetro’s long-term gas sales agreement of 400 e 3 m 3 /d (before any provisions for take or pay allowances) represents contracted volumes based on contract referenced natural gas heating value. Alvopetro’s reported natural gas sales volumes are prior to any adjustments for heating value of Alvopetro natural gas. Alvopetro’s natural gas is approximately 7.8% higher than the contract reference heating value. Therefore, to satisfy the contractual firm deliveries Alvopetro would be required to deliver approximately 371e 3 m 3 /d (13.1MMcfpd).

Well Results

Data obtained from the 183-D4 well identified in this press release, including hydrocarbon shows, cased-hole logging data, and potential net pay should be considered preliminary until testing, detailed analysis and interpretation has been completed. Hydrocarbon shows can be seen during the drilling of a well in numerous circumstances and do not necessarily indicate a commercial discovery or the presence of commercial hydrocarbons in a well. There is no representation by Alvopetro that the data relating to the 183-D4 well contained in this press release is necessarily indicative of long-term performance or ultimate recovery. The reader is cautioned not to unduly rely on such data as such data may not be indicative of future performance of the well or of expected production or operational results for Alvopetro in the future.

Forward-Looking Statements and Cautionary Language

This news release contains forward-looking information within the meaning of applicable securities laws. The use of any of the words ‘will’, ‘expect’, ‘intend’, ‘plan’, ‘may’, ‘believe’, ‘estimate’, ‘forecast’, ‘anticipate’, ‘should’ and other similar words or expressions are intended to identify forward-looking information. Forward‐looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events. Accordingly, when relying on forward-looking statements to make decisions, Alvopetro cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. More particularly and without limitation, this news release contains forward-looking statements concerning the expected natural gas price, gas sales and gas deliveries under Alvopetro’s long-term gas sales agreement, future production and sales volumes, the expected timing of production commencement from certain wells, plans relating to the Company’s operational activities, proposed exploration and development activities and the timing for such activities, capital spending levels, future capital and operating costs, the timing and taxation of dividends and plans for dividends in the future, anticipated timing for upcoming drilling and testing of other wells, and projected financial results. Forward-looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to the success of future drilling, completion, testing, recompletion and development activities and the timing of such activities, the performance of producing wells and reservoirs, well development and operating performance, expectations and assumptions concerning the timing of regulatory licenses and approvals, equipment availability, environmental regulation, including regulations relating to hydraulic fracturing and stimulation, the ability to monetize hydrocarbons discovered, the outlook for commodity markets and ability to access capital markets, foreign exchange rates, the outcome of any disputes, the outcome of  redeterminations, general economic and business conditions, forecasted demand for oil and natural gas, the impact of global pandemics, weather and access to drilling locations, the availability and cost of labour and services, and the regulatory and legal environment and other risks associated with oil and gas operations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Current and forecasted natural gas nominations are subject to change on a daily basis and such changes may be material. In addition, the declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. Although we believe that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because we can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, reliance on industry partners, availability of equipment and personnel, uncertainty surrounding timing for drilling and completion activities resulting from weather and other factors, changes in applicable regulatory regimes and health, safety and environmental risks), commodity price and foreign exchange rate fluctuations, market uncertainty associated with trade or tariff disputes, and general economic conditions. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Although Alvopetro believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Alvopetro can give no assurance that it will prove to be correct. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on factors that could affect the operations or financial results of Alvopetro are included in our AIF which may be accessed on Alvopetro’s SEDAR+ profile at www.sedarplus.ca . The forward-looking information contained in this news release is made as of the date hereof and Alvopetro undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

www.alvopetro.com
TSX-V: ALV, OTCQX: ALVOF

SOURCE Alvopetro Energy Ltd.

Cision View original content: http://www.newswire.ca/en/releases/archive/August2025/06/c8138.html

News Provided by Canada Newswire via QuoteMedia

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Westport

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Investor Insight

Westport’ innovative technologies and pioneered alternative fuel delivery systems offer a compelling case for investors looking to participate in the opportunities of a low-carbon economy.

Overview

Westport (NASDAQ:WPRT,TSX:WPRT) specializes in delivering advanced fuel technologies, with a focus on heavy-duty vehicles, aimed at reducing carbon emissions without compromising engine performance. As a key player in the clean transportation space, Westport offers innovative solutions that enable internal combustion engines to operate on alternative low-carbon fuels, including natural gas, renewable natural gas (RNG), propane and hydrogen.

Westport Fuel Systems

Westport is focused on the following transportation market opportunities:

  1. High-pressure Controls and Systems: Focuses on high-pressure fuel management solutions for hydrogen and other alternative fuel engines. Westport is embracing early-stage hydrogen infrastructure development and offers key components such as pressure regulators, injectors and fuel rails for both internal combustion engines and fuel cell applications. While hydrogen is key to the future decarbonization of transport, Westport’s components and solutions are already powering innovation today across a range of gaseous fuels.

In 2025, Westport completed the sale of its Light-Duty Segment to Heliaca Investments, allowing the company to strengthen its balance sheet and focus on high-growth opportunities in heavy-duty and industrial markets.

Market Position and Competitive Advantage

Westport operates in a rapidly growing and changing clean transportation market driven by stringent emission regulations, increasing fuel costs, and rising demand for sustainable mobility solutions. The company’s competitive edge lies in its proprietary HPDI technology, which uniquely delivers diesel-equivalent performance while significantly reducing carbon emissions. Westport’s joint venture with Volvo Group, under the Cespira name, enhances its ability to scale HPDI solutions globally.

Fleet operators and logistics companies are increasingly turning to alternative fuel vehicles to reduce operational costs and meet stringent ESG goals. In response, Westport continues to invest in innovation, particularly in hydrogen and renewable natural gas solutions.

Company Highlights

  • Westport is a pioneer in the development and commercialization of alternative fuel delivery systems for natural gas, renewable natural gas (RNG), propane, and hydrogen-powered internal combustion engines (ICEs).
  • The company is rooted in heavy-duty vehicle market, leveraging Westport’s proprietary fuel technologies to deliver reductions in carbon emissions for both commercial and passenger vehicles.
  • Westport’s High-Pressure Controls and Systems segment focuses on fuel management solutions for hydrogen and other pressurized alternative fuels.
  • The flagship HPDI technology, now part of the company’s Cespira joint venture with Volvo Group, enables heavy-duty trucks to operate on natural gas or hydrogen, thereby substantially lowering CO₂ emissions while delivering diesel-equivalent or better performance.
  • Westport’s growth trajectory is enhanced by key collaborations, most notably via the formation of Cespira, a joint venture with Volvo Group aimed at accelerating the global adoption of the HPDI technology.

Key Technologies

HPDI Fuel System (transferred into the Cespira JV with Volvo Group)

The HPDI fuel system is engineered for heavy-duty trucks and industrial applications. By injecting high-pressure natural gas or hydrogen directly into the combustion chamber, HPDI delivers diesel-like torque and power with up to 98 percent lower CO₂ emissions when using hydrogen. This technology is critical for long-haul trucking and other high-load applications, where maintaining performance and range is essential. This technology is now owned under the Cespira JV, which generated a revenue of $16.2 million in Q3 2024.

Westport

The HPDI system features a revolutionary, patented injector with a dual concentric needle design that delivers small quantities of diesel fuel and large quantities of natural gas, at high pressure, to the combustion chamber.

High-pressure Controls and Components

Westport’s high-pressure gaseous controls segment is at the forefront of the clean energy revolution, designing, developing and producing high-demand components for transportation and industrial applications. The company partners with the world’s leading fuel cell manufacturers and companies committed to decarbonizing transport, offering versatile solutions that serve a variety of fuel types. While hydrogen is key to the future decarbonization of transport, Westport components and solutions are already powering innovation today across a range of gaseous fuels. With decades of experience, market-leading brands, and unmatched engineering expertise, the company is a leader in the market. While still small, its strategic position and innovative capabilities put Westport on the cusp of significant growth, ensuring it is the go-to choice for those shaping the future of clean energy, today and tomorrow.

Management

Westport is helmed by an accomplished executive team with extensive experience in automotive technology, alternative fuels and corporate strategy.

Dan Sceli – CEO

Dan Sceli was appointed as CEO in January of 2024. His distinguished 37-year career in the global manufacturing sector marks him as a visionary leader, whose strategic acumen and commitment to excellence have propelled companies to new heights.

Bill Larkin – CFO

Bill Larkin has been instrumental in strengthening the company’s financial position since joining in 2022. With prior experience as CFO of Fuel Systems Solutions and Westport Innovations, Larkin’s experience spans a diverse set of corporate environments ranging from entrepreneurial startups, high growth small-caps and mature multi-billion dollar enterprises across various industries.

Ashley Nuell – VP of Investor Relations

Ashley Nuell joined Westport in May of 2022 and currently has approximately 20 years of experience in investor relations. Her career includes roles with companies at various parts of the energy sector value chain, as well as in the investor relations and stakeholder communications practice area of a global consulting firm.

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Senate hopefuls jostle for high-stakes seat after Blackburn jumps into governor race

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The horse race for the next open Senate seat in Tennessee is already kicking off after Sen. Marsha Blackburn, R-Tenn., announced a bid for the governorship earlier Wednesday.

Tennessee Republican Reps. Andy Ogles and Tim Burchett both told Fox News Digital they’re interested in Blackburn’s seat.

Ogles said, ‘Absolutely,’ when asked if he would consider a push for Congress’ upper chamber. Burchett noted that any such situation was a ‘long ways off’ but confirmed he was looking at it as well.

Blackburn just won re-election for her second term in the U.S. Senate in the November 2024 cycle.

If she ran for governor and won, Blackburn would have to vacate her seat – setting up a potential power vacuum in the Volunteer State.

Tennessee law grants the governor the ability to appoint someone to fill Senate vacancies until the next regularly scheduled election.

That means that if Blackburn leaves by 2026, her successor would be tapped to serve until 2031. 

Both Ogles and Burchett said they would be interested in running for the seat in the 2030 election cycle if appointed to the upper chamber.

But it could very well be up to Blackburn to choose her successor, depending on when she hypothetically resigned from the Senate.

Tennessee state law does not specify when she has to step down from the Senate, according to local outlet Knox News.

If the vacancy occurred before Blackburn stepped down, the decision would likely fall to term-limited Gov. Bill Lee. But Lee could leave the decision to Blackburn if she resigned after being sworn in to take his place.

‘Trump is back, America is blessed, and Tennessee – better than ever,’ Blackburn said in a video announcing her campaign launch on Wednesday. ‘I love Tennessee, I believe in Tennesseans, and I’m ready to deliver the kind of conservative leadership that will ensure our state is America’s conservative leader for this generation and the next.

Her candidacy sets up a high-stakes GOP primary against her congressional colleague, Rep. John Rose.

If she wins, Blackburn would be the first female governor of Tennessee.


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Violent attack reignites BOWSER Act debate as Trump floats federal takeover of DC

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A Senate Republican renewed his push to federalize Washington, D.C., following an attack on a former Department of Government Efficiency (DOGE) staffer and President Donald Trump’s threat to put the District under federal control.

Sen. Mike Lee, R-Utah, has long called for control of Washington to fall under Congress, going so far as to introduce the Bringing Oversight to Washington and Safety to Every Resident (BOWSER) Act, named after D.C. Mayor Muriel Bowser, in an effort to combat crime in the District.

The bill, which Lee introduced alongside Rep. Andy Ogles, R-Tenn., has not made it out of committee since being dropped in February. But Trump’s highlight of an attack against former DOGE staffer Edward Coristine, also known as ‘Big Balls,’ has resurrected the discussion.

‘The Constitution already federalizes D.C.,’ Lee said on X. ‘We just need Congress to do its job — and reassert its lawmaking power over our nation’s capital city. My bill, the BOWSER Act, would do that.’

Fox News Digital reached out to Lee for further comment.

Lee’s bill would effectively repeal the District of Columbia Home Rule Act, a law passed in the 1970s that established a city council and mayor and reduced the amount of oversight that Congress has over the city and its affairs.

But calls have grown by lawmakers over the years to increase Congress’ oversight of the city, largely centered on concerns over increased crime and criticisms of attempts to rewrite the District’s criminal code.

And Trump jumped into the discourse, too, threatening that if ‘D.C. doesn’t get its act together, and quickly, we will have no choice but to take Federal control of the City.’

‘Perhaps it should have been done a long time ago, then this incredible young man, and so many others, would not have had to go through the horrors of Violent Crime,’ Trump said on his social media platform, Truth Social. ‘If this continues, I am going to exert my powers, and FEDERALIZE this City.’

Fox News reached out to Bowser’s office for comment but did not immediately hear back.

Zack Smith, a senior legal fellow at The Heritage Foundation and a former prosecutor, told Fox News Digital that in the past, the D.C. council has pushed ‘policies that have made it much more difficult for law enforcement, for prosecutors, to do their jobs and keep citizens safe.’

Bowser and the D.C. Council have, for several years, worked to update the District’s criminal code. However, changes to the code that would have severely lowered sentencing for a variety of crimes that were at first vetoed by Bowser were on the precipice of becoming law before Congress and former President Joe Biden overrode the reforms.

Smith noted that Congress still has the authority to legislate the District, meaning that lawmakers and the federal government are ‘still the backstop,’ and that both Trump and Lee were right to call for a ‘reevaluation of the District’s status.’

‘That’s why Congress was able to step in and overturn that proposed radical rewrite of the Criminal Code,’ he said. ‘And so what the BOWSER Act would actually do, if it repeals home rule, it would essentially change the way the local D.C. government functions. It might involve Congress and the Federal Government taking a more direct role.’

‘I think there is broad and in some ways bipartisan consensus that the current system in D.C. is not working as it should,’ he continued. 


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New Romanian law may have averted NATO clash with Russia after border strikes

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Russia narrowly avoided an armed skirmish with Romania, a member of the NATO alliance, after striking just a half mile from its border. 

Romanian defense officials believe the new law passed by parliament explicitly allowing its armed forces to shoot down Russian drones that fly over its territory prevented the Kremlin from incurring on its territory. 

Russia struck a gas distribution center in the Ismail Area of Ukraine with Shahed kamikaze drones on Tuesday and Wednesday, so close to Romania’s border that Bucharest deployed F-16 aircraft to monitor. No unauthorized intrusions were reported. 

‘They know we passed this law, and in the last two months they have avoided crossing into our airspace,’ one Romanian defense source told Fox News Digital. 

Ilie Bolojan, Romania’s then-acting president, signed the law, which Romanian parliament had passed in February in response to Russian drones spilling over into its territory during attacks on Ukraine. 

The law specifies that Romanian authorities must establish the drone’s position and identity, attempt contact, intercept and fire warning shots, before neutralizing it. 

Piloted vehicles can only be destroyed if they conduct an attack or respond aggressively. 

Romania shares a 380-mile-wide border with Ukraine, though at this time there is no evidence Moscow has deliberately targeted its territory. 

Ukraine typically receives gas through the Orlovka gas distribution center in Izmail from Greece, Turkey and Romania. 

If Russia had incurred into Romanian territory and Romania responded by shooting down its drones, a tit-for-tat escalation risks drawing a NATO member state directly into the war.

NATO allies agree to Article 5, a collective defense pact that states each would come to the aid of the other in the case of an attack. 

Earlier this week, drones believed to originate in Belarus, a client state of Russia, landed in Lithuanian territory. 

Other eastern European states have enacted new laws to fortify their borders from the threat of Russia: Poland, Estonia, Latvia and Lithuania pulled out of an international treaty banning the use of landmines over humanitarian concerns earlier this year. 

Lithuania this week asked NATO to help strengthen its air defenses after a Russian drone carrying explosives entered its territory. 

‘This is not just Lithuanian airspace, not just Lithuania’s security — it is NATO airspace, NATO security and also EU security,’ foreign minister Kęstutis Budrys said. 


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DOJ turns to Gabbard’s office for next step in grand jury probe of alleged Russiagate conspiracy

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The Department of Justice made a sweeping request to the Office of the Director of National Intelligence this week for more information about allegations of a 2016 conspiracy to tie President Donald Trump to Russia, marking the next step in the department’s grand jury inquiry into the matter.

A DOJ prosecutor asked the ODNI for a range of documents to supplement Director of National Intelligence Tulsi Gabbard’s recent request to the DOJ to investigate Obama administration officials over the alleged conspiracy. The Federalist first reported on the prosecutor’s request. A source familiar with the request confirmed the veracity of the report to Fox News Digital.

The prosecutor requested in a letter to the ODNI a dozen categories of items, including any nonpublic material Gabbard had pertaining to the tranche of declassified documents she made public in July. 

Gabbard also revealed Tuesday night on the Ingraham Angle that she had met that day with the DOJ prosecutors involved in the grand jury inquiry. Gabbard said they ‘have more questions, and they’re going to be really taking a deep dive into this again.’

‘They are committed to leaving no stone unturned as they conduct this grand jury investigation and find the truth,’ Gabbard said.

The revelation that a meeting had occurred and that a DOJ official leading the grand jury inquiry is seeking records from the ODNI signals that the probe is underway and in an information-gathering phase. 

Grand jury investigations are conducted in secret and can take days, weeks or longer to conclude. Prosecutors present the grand jury with evidence, and the panelists on the jury are tasked with deciding whether probable cause exists to charge someone with a crime. Obtaining an indictment against a person through a grand jury is generally much easier than the subsequent process of securing a conviction against them.

Fox News Digital first reported on the existence of a grand jury investigation related to Gabbard’s intelligence on Monday, but it remains unclear whom is being targeted in the investigation or what criminal charges could be on the table and still within the statutes of limitations.

Gabbard has alleged that newly declassified evidence shows that President Barack Obama and his national security officials, including John Brennan, James Comey and James Clapper, had forgone typical protocols to compile a faulty intelligence product after President Donald Trump won the election in 2016 that undermined his election win.

Gabbard alleged that the intelligence laid the ‘groundwork’ for the Trump-Russia narrative that loomed over much of the president’s first administration. Trump’s first presidency was dominated by two-year-long special counsel inquiries surrounding Russia’s involvement in the 2016 election, but neither special counsel identified a conspiracy among Obama officials like the one Gabbard has now alleged.

The DOJ official’s letter to ODNI this week also included a request for information about any intelligence community investigations into media leaks, signaling that those could also be part of the grand jury probe. Gabbard has claimed the media obtained information through the Obama administration that helped to falsely attribute Trump’s win to Russian interference in the election in the eyes of the public.

Obama recently rejected Gabbard’s allegations through a spokesperson in a rare statement.

‘Out of respect for the office of the presidency, our office does not normally dignify the constant nonsense and misinformation flowing out of this White House with a response,’ the statement said. ‘But these claims are outrageous enough to merit one. These bizarre allegations are ridiculous and a weak attempt at distraction.’


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NextSource Pens Graphite Deal with Mitsubishi​ as US Tightens Grip on Sector

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NextSource Materials (TSX:NEXT,OTCQB:NSRCF) announced that it has signed a multi-year offtake agreement with Mitsubishi Chemical Corporation (MCC), furthering its bid to become a vertically integrated graphite supplier for the North American electric vehicle (EV) market.

Under the agreement, NextSource will supply approximately 9,000 metric tons per year of intermediate anode active material (AAM) to MCC’s plant in Japan.

MCC, Japan’s largest chemical company and a key supplier to major auto manufacturers, will refine the material into finished AAM for EV battery production in North America.

“We are excited to have entered into a partnership with Mitsubishi Chemical Corporation through a binding offtake agreement for the production of active anode material in the Middle East,” said Hanré Rossouw, President and CEO of NextSource.

The timing is also strategic. The company is fast-tracking development of a large-scale Battery Anode Facility (BAF) in the United Arab Emirates to process its proprietary SuperFlake graphite concentrate from the Molo mine in Madagascar.

The facility will serve as the production hub for the MCC agreement, with initial shipments expected following a rigorous qualification process in 2026. The company said that equipment installations are already underway and a full-scale ramp-up is targeted for 2027.

In addition to processing and logistics, NextSource is preparing for a Phase 2 expansion of the Molo mine to ensure sufficient graphite feedstock. The Madagascar-based project, which began Phase 1 operations this year, is one of the world’s highest-quality graphite deposits and the only one producing SuperFlake graphite, according to the company.

NextSource says its long-term goal is to offer a fully traceable, scalable, and China-independent source of battery-grade anode material.

The company is also in advanced talks with strategic financing partners to fund construction of the BAF and Molo expansion. Technical and economic studies are underway to determine capital requirements and investment timing.

The agreement also comes amid tightening restrictions on Chinese battery materials. In July, the US Department of Commerce imposed a 93.5 percent anti-dumping duty on anode-grade graphite imports from China, adding to existing countervailing tariffs for a combined effective rate of around 160 percent.

The decision, prompted in part by complaints from the American Active Anode Material Producers (AAAMP), was designed to shield domestic producers from what they describe as unfairly priced Chinese shipments.

The decision could reshape the graphite market, which has long been dominated by China, which is currently responsible for roughly 95 percent of global anode output. Imports from China made up two-thirds of the 180,000 metric tons of graphite shipped to the US in 2023.

Overall, there is also growing urgency among EV supply chain participants to pivot away from China.

While materials like lithium and cobalt have captured more headlines, graphite, which makes up over 95 percent of the anode side of an EV battery, is equally critical, accounting for as much as 50 kilograms per vehicle.

With the new tariffs in place, industry analysts expect a significant acceleration of non-Chinese supply chain development, particularly for US automakers under pressure to secure compliant sources.

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

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