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Moderate Dem’s top aide resigns after lawmaker’s comments on ‘formerly male’ athletes

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A top aide to Rep. Seth Moulton, a moderate Democrat from Massachusetts, has reportedly resigned after the lawmaker’s recent comments about transgender athletes and the left’s tolerance for dissenting views.

Moulton has faced a barrage of criticism from progressives after he used the issue of transgender athletes in school sports to illustrate his complaint that liberals showed little capacity for dissent in an interview with The New York Times.

Hours after the interview was published, his campaign manager Matt Chilliak resigned, according to the Boston Globe.

The report did not cite a reason, and Moulton’s campaign would not comment on personnel matters.

Fox News Digital reached out to Chilliak for confirmation.

The Democratic operative posted on X shortly after Trump won the election in the early hours of Wednesday morning, ‘Millions of Americans today showed that they hate immigrants and transgender people more than they fear fascism.’

Moulton had told the Times, ‘Democrats spend way too much time trying not to offend anyone rather than being brutally honest about the challenges many Americans face.’

‘I have two little girls, I don’t want them getting run over on a playing field by a male or formerly male athlete, but as a Democrat I’m supposed to be afraid to say that,’ he said.

The congressman responded to the backlash in a statement to Fox News Digital: ‘I stand firmly in my belief for the need for competitive women’s sports to put limits on the participation of those with the unfair physical advantages that come with being born male.’

‘I am also a strong supporter of the civil rights of all Americans, including transgender rights. I will fight, as I always have, for the rights and safety of all citizens. These two ideas are not mutually exclusive, and we can even disagree on them,’ Moulton said. 

‘Yet there are many who, shouting from the extreme left corners of social media, believe I have failed the unspoken Democratic Party purity test. We did not lose the 2024 election because of any trans person or issue. We lost, in part, because we shame and belittle too many opinions held by too many voters and that needs to stop. Let’s have these debates now, determine a new strategy for our party since our existing one failed, and then unite to oppose the Trump agenda wherever it imperils American values.’

LGBTQ rights group Mass Equality said Moulton’s comments in the Times ‘have further compounded our community’s sense of vulnerability.’

‘[T]he Congressman’s remarks were both harmful and factually inaccurate,’ the group said.

Massachusetts state lawmaker John Moran wrote on X, ‘No, Seth Moulton, the only thing we here in Massachusetts shouldn’t be afraid to say is that you should find another job if you want to use an election loss as an opportunity to pick on our most vulnerable. Weak!’

He’s not the only Democratic lawmaker blaming their party for wearing political blinders after the 2024 elections, however.

Rep. Ritchie Torres, D-N.Y., wrote on X, ‘There is more to lose than there is to gain politically from pandering to a far left that is more representative of Twitter, Twitch, and TikTok than it is of the real world. The working class is not buying the ivory-towered nonsense that the far left is selling.’


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LEE CARTER: Election 2024’s top lesson is about one crucial thing and we need to learn from it

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It’s a funny thing. When you listen to voters, they will tell you what they think.  I have spent the last two years talking to voters about the election, the candidates, the messages, the attacks, and more.  And based on everything I learned, I’m not surprised that Donald Trump clinched the presidency. The outcome of Tuesday’s election followed a predictable pattern, one that was clear to those of us who were willing to take a hard look at the signs. 

From the outset, the writing was on the wall. Record-low satisfaction with the country’s direction, coupled with persistent issues like inflation and a struggling economy, painted a stark picture of discontent. Yet, the Biden-Harris administration spent much of their time spinning a different narrative—one that painted a rosy picture of a thriving nation. They pointed to academics and elites to validate how great things were, all while dismissing the kitchen-table concerns that most Americans faced day in and day out. 

Anyone who dared question them—who believed things might have been better just four years ago—was labeled as a uneducated or ill-informed.  If they dared to align themselves with Trump they would be called racist, misogynist, fascist, or, worse, a Nazi. That’s a hard sell to a frustrated electorate.

Vice President Kamala Harris started her campaign with a burst of energy, and an effort to turn the page on Joe Biden’s lack luster numbers and support.  At first, all the signals and vibes made it seem that she had the potential to give Trump a real run for his money. 

Kayleigh McEnany praises Biden, White House’s post-election remarks: ‘Above board’

She moved the conversation from fear—a ‘threat to democracy’—to a more optimistic, hopeful vision—’a fight for our freedom.’ For a brief moment, it worked. She surged in the polls, going from -5 to +3 in a matter of days. It was an impressive rallying cry—’When we fight, we win’—and it was almost enough to shake up the race.

But then came the moment when she couldn’t answer the simplest, most crucial question: What are you going to do differently than Joe Biden? It wasn’t an unfair question. But every time Harris was asked, she failed to offer a meaningful response. As a communications strategist, I couldn’t believe that no one had prepped her for such a basic ask. It was an easy question to answer, one that she could have addressed without throwing Biden under the bus, yet she couldn’t find the words. 

Instead of rallying support, Harris reverted to negative, combative messaging. And then Biden stoked the flames with his ‘garbage’ remark. Mark Cuban joined the chorus of criticism, saying that Trump didn’t associate with ‘strong, intelligent women,’ further alienating voters. You can’t belittle people and expect them to respond positively, yet that’s exactly what happened.  And so, by the time she appeared at the Ellipse to deliver her closing argument, it was far too late. The opportunity for a clear, decisive rallying cry had passed.

The working class felt invisible and forgotten, presidential historian says

Trump, on the other hand, played the situation brilliantly. He didn’t retaliate with anger or bitterness; instead, he turned the criticism into part of his persona. The showman showed up, quite literally, with a garbage truck. He wore the insults as a badge of honor in the form of a neon orange vest, which only emboldened his base and solidified his supporters’ loyalty.

Trump’s campaign wasn’t just about negativity—though that’s what grabbed the most media attention. His rallies started with a simple, resonant question: Are you better off today than you were four years ago? 

His promise was straightforward: He would fight—not just for himself, but for the American people. He painted a picture of a new golden age for the nation, urging people to dream big again. And many Americans, especially those struggling with rising costs and stagnant wages, bought what he was selling.

The more Trump was attacked, the more his base pushed back. They weren’t swayed by the relentless barrage of criticism, which they saw as nothing more than the ‘cry wolf’ tactic. By Election Day, they had grown immune to the barrage of insults, and what they saw was someone who wasn’t the authoritarian the media painted him to be.

In the end, what we witnessed was a rejection of the Biden-Harris administration—and the elite who look down on them. It was a clear message from voters that they were fed up with a system that didn’t seem to be working for them. It wasn’t about a rejection of liberalism or progressivism per se, but rather a deep frustration with an establishment that failed to recognize the realities facing everyday Americans.  An establishment that looked down on them and judged them for their lived experiences.

David Axelrod: Democrats have an

What we have now is a Republican Party that’s no longer defined by traditional conservatism but by a powerful anti-establishment rage. It’s a rebellion against the elites who, for too long, told people what to think, how to feel, and what was considered acceptable.

It’s a wake-up call for those in power. They need to reconsider how they engage with, and address, the real concerns of the people they aim to serve. The country is clearly divided, and the way forward will require a willingness to listen, to empathize, and to acknowledge that there are multiple, often conflicting, experiences and realities that make America what it is.

For some, today marks a new beginning—a ‘morning in America,’ as President Ronald Reagan once put it. For others, it feels like a mourning of America, a nation they no longer recognize. 

Regardless of where you stand, let’s remember that we live in a remarkable, free country. We are better together, and we are better when we choose to build bridges rather than burn them. 


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Sen. Josh Hawley ‘delighted’ to back Sen. John Cornyn for Senate Majority Leader

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Republican senators will select a new Senate GOP leader next week, and Sen. Josh Hawley, R-Mo., has endorsed Sen. John Cornyn, R-Tx., for the role.

GOP senators will vote via secret ballot on Wednesday, Nov. 13. 

‘I’m backing John Cornyn for majority leader,’ Hawley said in a statement. ‘In the last two years, nobody has done more to win back the majority than he has. He tirelessly raised millions of dollars for competitive Senate races, including mine. 

‘He has a heart for people: He has voiced his support for the RECA compromise that would fairly compensate hundreds of thousands of Americans poisoned by their government, including so many in Missouri,’ Hawley continued.  

‘And I know he will work closely and effectively with President Trump to deliver on the promise of our new majority. I’m delighted to give him my support,’ he concluded.

In addition to Cornyn, Republican Sens. Rick Scott of Florida and John Thune of South Dakota are both vying for the Senate GOP leader position.

Thune is currently the Senate Republican Whip, a role which Cornyn previously held. Scott has previously served as National Republican Senatorial Committee (NRSC) chair.

Republicans won the Senate majority in the 2024 election.

Earlier this year, Sen. Mitch McConnell, R-Ky. who has helmed the Senate GOP since 2007, announced that his current term as Senate Republican leader would be his last.

Thune suggests Trump shouldn

Scott, during an appearance on Fox Business’ ‘Kudlow,’ said he hopes President-elect Donald Trump will support him for the role. 

Thune said during an appearance on CNBC’s ‘Squawk Box’ that he would prefer for Trump to ‘stay out’ of the leadership race.

Fox News Digital’s Julia Johnson contributed to this report.


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Iran denies involvement in Trump assassination plot outlined in DOJ report: ‘Malicious conspiracy’

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Iran’s Foreign Ministry dismissed a report released by the Department of Justice on Friday stating that it thwarted an Iranian plot to assassinate President-elect Donald Trump.

A criminal complaint filed in a New York City federal court stated that an unnamed official in Iran’s Islamic Revolutionary Guards Corps told Farhad Shakeri, 51, of Iran, to ‘focus on surveilling, and, ultimately, assassinating, former President of the United States, Donald J. Trump.’

‘Shakeri has informed law enforcement that he was tasked on Oct. 7, 2024, with providing a plan to kill President-elect Donald J. Trump,’ it added.

On Saturday, spokesperson Esmaeil Baghaei ‘categorically dismissed allegations that Iran was involved in attempts to assassinate former and current US officials,’ according to the foreign ministry. 

Baghaei, who described the report as ‘completely baseless and rejected,’ said Iran has been accused of similar scenarios in the past that have been ‘firmly denied and proven false.’

He said that repeating these types of claims ‘is a malicious conspiracy orchestrated by Zionist and anti-Iranian circles, aimed at further complicating the issues between the US and Iran.’

Baghaei concluded by saying Iran ‘remains committed’ to using ‘all legitimate and legal means’ at domestic and international levels to ‘restore the rights of the Iranian nation.’

Shakeri, who remains at large and is believed to be living in Iran, ‘immigrated to the United States as a child and was deported in or about 2008 after serving 14 years in prison for a robbery conviction,’ according to the DOJ.

Shakeri is also accused of tasking two New York men, 49-year-old Carlisle Rivera and 36-year-old Jonathon Loadholt, with surveilling and killing an American of Iranian origin — who ‘is an outspoken critic of the Iranian regime’ — for $100,000. 

The person, who identified herself as journalist Masih Alinejad, lives in America and has also been targeted by the Iranian government, the DOJ report said.

Masih Alinejad: I don

‘We will not stand for the Iranian regime’s attempts to endanger the American people and America’s national security,’ Attorney General Merrick Garland said in a statement.

Shakeri, Rivera and Loadholt face charges of murder-for-hire, conspiracy to commit murder-for-hire and money laundering conspiracy, which carry maximum penalties of 10 to 20 years in prison. 

Prosecutors said Shakeri has also been charged with conspiring to provide material support to a foreign terrorist organization, providing material support to a foreign terrorist organization and conspiracy to violate the International Emergency Economic Powers Act and sanctions against the Government of Iran, which each carry a maximum penalty of 20 years in prison.

Fox News’ Greg Norman and David Spunt contributed to this report.


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High Grade Rock Chip Assays Confirm New Gold Discoveries at Leinster South

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Metal Hawk Limited (ASX: MHK, “Metal Hawk” or the “Company”) is pleased to provide an exploration update relating to its 100% owned Leinster South Project, located 30km south of Leinster, in the world-class Agnew-Lawlers region of the eastern goldfields in Western Australia.

  • Gold assays up to 62 g/t Au returned from first batch of rock chip samples at the Thylacine Prospect, located 1.5km ESE from Siberian Tiger.
  • Several rock chip samples at Thylacine return high-grade gold from multiple sub-parallel quartz veins over a broad area, including:
    • 24DR611: 62.3 g/t Au
    • 24DR617: 30.4 g/t Au
    • 24DR627: 27.0 g/t Au
    • 24DR633: 20.2 g/t Au
    • 24DR715: 27.3g/t Au
    • 24DR613: 12.1 g/t Au
    • 24DR627: 10.5 g/t Au
    • 24DR616: 9.6 g/t Au
    • 24DR602: 8.0 g/t Au
  • Follow-up sampling at Tysons prospect returns high-grade gold in numerous samples of quartz veining, including:
    • 24DR537: 84.0 g/t Au
    • 24DR535: 21.5 g/t Au
    • 24DR564: 10.9 g/t Au
    • 24DR536: 6.2 g/t Au
  • No historical drilling at Siberian Tiger, Thylacine or Tysons.
  • Plans for drilling advanced with heritage survey scheduled for early 2025.
  • Field mapping continues to discover new zones of outcropping gold mineralisation, including the new untested Bengal Tiger prospect.

Following the discovery of gold at Siberian Tiger only three months ago (see ASX announcement 5 August 2024), Metal Hawk’s field activities at Leinster South continue to encounter more significant outcropping high grade gold mineralisation at new prospects. As well as expanding the mineralised footprint of Siberian Tiger, the latest round of assay results successfully followed up the recent high grade rock chip result (22 g/t Au) at Tysons prospect, with several additional sites of quartz vein hosted gold mineralisation recorded (up to 84g/t Au) along the north-south trending granite-greenstone contact. Additionally, spectacular new gold assay results (up to 62 g/t Au) have confirmed the Thylacine prospect, located 1.5km to the ESE of Siberian Tiger, as another high-grade vein system at Leinster South.

Metal Hawk’s Managing Director Will Belbin commented:“In addition to the high-grade gold rock chips at Siberian Tiger, these outstanding new assay results from Thylacine and Tysons suggest that we are on the verge of multiple significant gold discoveries at Leinster South. It is incredible that there has not been any previous gold exploration, sampling or drilling at any these prospects. This is a huge opportunity for Metal Hawk and I believe there is potential for a new high-grade gold camp at Leinster South.” 

THYLACINE

The Thylacine prospect is located approximately 1.5km ESE of Siberian Tiger on the parallel northern ESE trending greenstone belt. Initial rock chip samples from Thylacine have returned several high grade gold assays in multiple sub-parallel NW trending quartz veins. A total of 12 mineralised quartz veins have been mapped and broadly sampled, with seven samples grading greater than 10 g/t Au. The average grade of the 38 available quartz vein sample assays is 7 g/t Au. Additionally, ten rock chip assay results are pending that cover the northwestern two veins at the prospect. The mineralisation at Thylacine is very similar to Siberian Tiger, with abundant iron oxides often forming sheets or banding (stripes) and local zones of brecciation. High grade results from initial sampling at Thylacine are shown on Figure 2 below (for a full list of results see Table 1).

Click here for the full ASX Release

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Tech 5: Bitcoin Hits All-time High, Tech Stocks React to Trump Win

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The United States’ 47th Presidential election concluded this week with the appointment of Donald Trump to his second term in the White House after a tumultuous race.

Fueled by the promise of lower corporate taxes and the Federal Reserve’s decision to slash interest rates by another 25 basis points, the stock market soared, with both the S&P 500 and Nasdaq Composite indexes setting record highs.

Bitcoin also surged to a new record high above US$77,000, bolstered by the Republican party’s gains in the midterm elections. With the Senate secured and the House of Representatives within reach, the prospect of a more favorable regulatory landscape for cryptocurrencies in 2025 has ignited investor enthusiasm.

As the dust settles on the 2024 presidential election, the full extent of Trump’s policies on the economy remains to be seen.

1. Big Tech reacts to Trump’s election win

The election of Trump to the White House on November 6 has been perceived as a victory for CEOs, particularly those in the tech industry who have maintained close ties with policymakers. With promises to lower corporate taxes and loosen regulations, the new administration could provide a more favorable business environment.

That sentiment was reflected in the stock market this week, with a handful of tech companies witnessing growth of well over 5 percent. After replacing Intel (NASDAQ:INTC) in the Dow Jones Industrial Average on November 1, NVIDIA (NASDAQ:NVDA) surpassed Apple (NASDAQ:APPL) to become the world’s most valuable company for the third time this year.

It achieved a market capitalization of US$3.43 trillion compared to Apple’s US$3.38 trillion as markets wrapped on Tuesday (November 5) and reached a historic valuation of US$3.6 trillion on Wednesday (November 6). Its share price is up 7.28 percent for the week.

In addition to NVIDIA’s gains, tech giants Broadcom (NASDAQ:AVGO) and Amazon (NASDAQ:AMZN) also experienced significant share price increases of 8.29 percent and 5.87 percent, respectively. Meanwhile, shares of Apple, Microsoft (NASDAQ:MSFT), Meta (NASDAQ:META) and Taiwan Semiconductor (NYSE:TSM) saw more modest gains of 2.63 percent, 3.13 percent, 4.47 percent and 3.87 percent.

Investors may be optimistic after a Reuters report suggested that Trump may be planning to dial back antitrust measures enforced by the Biden administration and that he may even disrupt the proposed breakup of Google (NASDAQ:GOOGL), whose share price is up 5.09 percent for the week.

2. Bitcoin sets new price record

After a slump early in the week, Bitcoin reached a new all-time high after Trump was elected as the 47th president of the US in the early hours of Wednesday.

In a presidential race initially considered the closest in modern US history, the Republican candidate took an early lead by securing votes in North Carolina, Georgia and Pennsylvania, three out of seven key swing states.

At 5:34 AM EST on November 6, the Associated Press reported that Trump had won over his fourth swing state, Wisconsin, securing enough electoral college votes to be declared the winner.

As Americans cast their ballots and Trump’s prospects improved, the price of Bitcoin rose in tandem. It went from around US$68,750 on the morning of November 5 to over $75,000 just after 1:36 AM EST on November 6, surpassing its previous record of $73,000 set in March 2024.

Bitcoin performance, October 10 to November 7, 2024.

Bitcoin performance, October 10 to November 7, 2024.

Chart via CoinGecko.

On November 6 at 5:35 AM EST, after Trump declared victory, Bitcoin was trading at around US$73,000. The price continued to rise as the markets opened on Wednesday, briefly breaking past US$76,000 before retreating slightly as Western markets closed. It traded in the US$74,000 range in Asia and retook US$76,000 at around 11:00 AM EST.

Unlike the short-lived rallies seen in recent weeks, Bitcoin has managed to maintain its gains so far. A Trump presidency is viewed as beneficial to the cryptocurrency industry, as his campaign promised to loosen regulations and replace regulators like US Securities and Exchange Commission Chairman Gary Gensler, who has had a contentious relationship with the industry’s major players.

Republicans also took a majority of the US Senate and are on track to take the House of Representatives, although the votes are still being tallied. With a more “crypto-friendly” political landscape, industry insiders are optimistic that innovation and adoptions will accelerate.

Bitcoin closed the week over 10 percent higher at US$76,739, slightly below its weekly high of US$77,239 reached earlier on Friday (November 8).

3. Tesla shares hit year-to-date high

Next to Bitcoin, Tesla (NASDAQ:TSLA) is the biggest winner after Trump’s win this week.

Its share price gained over 13 percent on Wednesday morning and is up over 31 percent for the week, trading at US$321.22, its highest level year-to-date.

Tesla performance, November 4 to 8, 2024.

Tesla performance, November 4 to 8, 2024.

Chart via Google Finance.

Tesla CEO Elon Musk actively supported Trump in the weeks leading up to the election, contributing roughly US$130 million to his campaign efforts. In September, Trump indicated his intention to offer Musk a role in the White House, focusing on streamlining government operations and cutting federal spending.

To achieve this, Musk has boldly predicted that he could eliminate at least US$2 trillion of federal spending. While he hasn’t specified exactly where these cuts would come from, reports suggest that Musk and Trump may target agencies responsible for regulating industries in which Musk’s companies operate. These agencies could include the Federal Aviation Administration (FAA), the Federal Communications Commission (FCC) and environmental agencies.

During his campaign, Trump also expressed intentions to reverse tax incentives and rebates for electric vehicle (EV) purchases established during the Biden-Harris administration. Although this might seem counterproductive to Musk’s Tesla operations, the CEO could be focusing on his other venture, SpaceX, which has forged strong ties with the federal government’s defense agencies.

In March it was reported that SpaceX had signed a contract worth US$1.8 billion in 2021 to build spy satellites with the National Reconnaissance Office, and the company won contracts for nine launches under the National Security Space Launch (NSSL) Phase 3 Lane 1 program on October 18.

However, issues between the FAA and SpaceX — such as a US$633,009 fine imposed by the agency in September for procedural violations related to Falcon 9 launches in 2023 as well as its decision to delay the test launch of SpaceX’s Starship mega rocket — have created tension between Musk and the agency.

Musk may have a vested interest in reducing the FAA’s regulatory oversight of SpaceX’s operations, as diminishing the agency’s funding could potentially clear a path for expanded commercial space exploration.

4. Super Micro shares audit update, reports preliminary earnings

Super Micro Computer (SMCI) (NASDAQ:SMCI) announced preliminary Q1 2025 results on Tuesday (November 5) with a renewed net sales forecast of US$5.9 billion to US$6 billion, missing analysts’ expectations of US$6.79 billion and slightly below the company’s previous guidance range of US$6 billion to US$7 billion.

The company also provided Q2 guidance, projecting net sales in a range of US$5.5 billion to US$6.1 billion for the quarter ending on December 31, 2024. This news led to a share price drop of over 24 percent on Wednesday morning.

The company also shared an update from an independent Special Committee formed to investigate concerns over the company’s accounting records initially raised by EY. In a statement, the committee said it found no evidence of fraud or misconduct by management or the Board of Directors in its investigation, and recommended that SMCI conduct “a series of remedial measures…to strengthen its internal governance and oversight function.’ A full report is expected next week.

Meanwhile, SMCI is working to file its delayed Form 10-K and regain compliance with Nasdaq listing requirements. After being issued a notice of noncompliance, companies have 60 days to either file the Form 10-K or submit a plan to regain compliance. If SMCI fails to do either and is delisted from the Nasdaq, it faces potential early repayment of up to US$1.725 billion in March 2029 of convertible notes.

5. Arm stumbles on Q2 revenue growth

Arm Holdings (NASDAQ:ARM) released its Q2 FYE25 results on November 6 (Wednesday), showing that revenue growth slowed to just 5 percent in the September quarter, down from 39 percent in the previous quarter.

This slowdown in revenue growth was primarily attributed to a decline in licensing revenue, the fees that Arm receives from companies that use its IP to develop their own chips. Licensing revenue was US$330 million in Q2, compared to US$472 million in Q1, a difference of 43 percent.

Arm Holdings performance, November 4 to 8, 2024.

Arm Holdings performance, November 4 to 8, 2024.

Chart via Google Finance.

However, the decline was partially offset by royalty revenue, which increased by over 10 percent to US$514 million. Royalty revenue refers to the fees that Arm receives from companies that use its IP in products that are sold to end consumers.

While Arm’s share price initially dipped following the report, it rebounded strongly, up nearly 10 percent midday on Thursday (November 7). This positive shift likely reflects investor confidence in Arm’s strong position within the tech industry. The company collaborates with major tech players like Apple, Samsung (KS:5930) and NVIDIA, and its chips are essential components in a wide range of consumer and industrial electronics. The company concluded the week with its share price rising by 5.16 percent.

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

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Qatar agrees to kick Hamas out of Doha after request from Biden administration

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Qatar has agreed to kick Hamas out of the country after a request from the Biden administration and failed repeated attempts to get the terror group to release the remaining hostages its militants kidnapped from Israel on Oct. 7, 2023

The move came after Hamas repeatedly rejected hostage release proposals. 

A U.S. official told Fox News Qatar has been ‘invaluable’ in negotiating the release of nearly 200 hostages but that Hamas’ presence in Doha is no longer viable or acceptable.

Hamas refused proposals to release even ‘a small number of hostages’ during recent meetings in Cairo after the killing of Yahya Sinwar, the Hamas leader who masterminded the Oct. 7 attacks on Israel. 

Sinwar was killed in Gaza by Israeli forces in October.  

In August, Hamas terrorists killed six hostages, including Israeli-American Hersh Goldberg-Polin, as Israel Defense Forces closed in for a rescue attempt in the tunnels deep below Gaza’s Rafah.

Negotiations to pause the war between Israel and Hamas have stalled, with Israeli officials saying the release of the hostages was a top priority.

Yahya Sinwar was a

The Justice Department has charged several top Hamas leaders in the Oct. 7, 2023 attack on Israel. Fox News Digital has reached out to Qatar’s embassy in Washington, D.C.

 In addition to its presence in Turkey, Arab media reported in June that Hamas was considering moving its headquarters to Iraq. The group already has a political office in Baghdad. 


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Top 5 Canadian Mining Stocks This Week: Black Iron Up 78 Percent on Offtake Deal

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The S&P/TSX Venture Composite Index (INDEXTSI:JX) climbed 0.91 percent on the week to close at 608.54 on Friday (November 8). Meanwhile, the S&P/TSX Composite Index (INDEXTSI:OSPTX) was up 2.1 percent to 24,735.99.

Statistics Canada released its October Labour Force Survey on Friday (November 8). The announcement said there was little change to employment, with the economy adding just 15,000 jobs during the month and the unemployment rate holding steady at 6.5 percent.

South of the border, Donald Trump was declared the winner of the US presidential election in the early morning hours of Wednesday (November 6). Initially, experts expected the election to be too close to call, anticipating that counting would last days or even weeks.

How could his win affect the resource sector? Trump ran on a divisive platform that would see increasing tariffs, immigration reform and cuts to government spending. He’s also made broad promises for the resource sector, particularly oil and gas, that would see a lowering of environmental standards, access to protected federal land and a focus on exports.

The actual effects of these proposals won’t be known until well into 2025. Under the Biden administration, the US became the number one oil producer in the world, pumping more than 13 million barrels of crude per day in 2024, the most under any president.

How Trump’s policies will affect the metals and mining sector is unknown. His promise to pull back on climate laws could threaten the future of the Inflation Reduction Act, which has provided billions in targeted funding to projects tied to the energy transition. However, Trump is expected to support the industry by focusing on US-based projects and streamlining the permitting process.

Following the election, the US Federal Reserve held its November meeting on Wednesday and Thursday (November 7) and announced that it would make a 25-point cut to its benchmark Federal Funds Rate.

This marks the second time the central bank has cut interest rates, with the first being a 50 point cut in September, since it started raising them in February 2022 in response to rising inflation. In the announcement, the Fed cited an easing inflation rate, close to the 2 percent target, and a job market that has become less restrictive.

A surging US dollar and rising treasury yields pushed the price of gold down following the election. Although it recovered some ground on the Fed announcement, it ultimately lost 1.85 percent on the week, closing the period at US$2,685.10 on Friday at 4:00 p.m. EST. Silver took a harder hit, shedding 3.7 percent to US$31.24 on Friday. Copper was also down, dropping 1 percent to US$4.35 per pound on the COMEX.

The S&P GSCI (INDEXSP:SPGSCI) saw a slight increase of 0.67 percent to close at 539.73.

The election pushed major US indices to record highs this week, with the Nasdaq-100 (INDEXNASDAQ:NDX) surging 5.51 percent to close Friday at 21,110.08, the S&P 500 (INDEXSP:INX) jumping 4.72 percent to finish at 5,995.53, and the Dow Jones Industrial Average (INDEXDJX:.DJI) gaining 4.72 percent as well to reach 43.989.98.

Find out how the five best-performing Canadian mining stocks performed against that backdrop.

1. Black Iron (TSX:BKI)

Weekly gain: 77.78 percent
Market cap: C$24.33 million
Share price: C$0.08

Black Iron is an iron development and exploration company focused on advancing its Shymanivske project in Southeastern Ukraine.

The mineral resource estimate in the 2020 preliminary economic assessment for the project included measured and indicated resources grading 18.8 percent magnetic iron and 31.6 percent total iron from 645.8 million metric tons of ore, with additional inferred resources of 18.4 percent magnetic iron and 30.1 percent total iron from 188.3 million metric tons.

The report suggested that the project’s development would have an after-tax net present value at 10 percent of US$1.44 billion, with an internal rate of return of 34.4 percent and a payback period of 3.33 years.

Shares in Black Iron saw gains this past week after it announced on Thursday that it had signed binding royalty and offtake agreements with Anglo American (LSE:AAL,OTCQX:AAUKF). Anglo American will invest US$4 million in return for a 1 to 1.5 percent royalty, dependent on the price of iron, as well as offtake rights to whichever is higher: 60 percent of Phase 1 production or 2.4 million metric tons of iron per year for the life of the mine.

Among other terms, the agreement also provides Anglo American with the opportunity to further invest at least 15 percent of the Phase 1 construction costs, which would increase its offtake rights to 100 percent of Phase 1 production or 4 million metric tons of iron per year following the end of the conflict between Russia and Ukraine.

2. Patagonia Gold (TSXV:PGDC)

Company Profile

Weekly gain: 60 percent
Market cap: C$16.28 million
Share price: C$0.04

Patagonia Gold is a precious metals production and development company primarily focused on advancing its Cap-Oeste and Calcatrau underground projects in Argentina.

Located in Santa Cruz province, Cap-Oeste hosted open-pit mining operations until 2018. While Patagonia is working on the exploration and development of the underground resource at the site, it has been able to recover gold and silver from residual leaching on site.

In the company’s management discussion and analysis, released on August 28, it reported that it had produced 889 ounces of gold and 42,363 ounces of silver from Cap-Oeste during the first six months of 2024.

According to the company’s website, a 2018 mineral resource estimate for Cap-Oeste reported measured and indicated values of 704,300 ounces of gold and 21.43 million ounces of silver from 10.56 million metric tons of ore with average grades of 2.07 grams per metric ton (g/t) gold and 63.2 g/t silver.

Acquired in a deal with Pan American Silver (NYSE:PAAS,TSX:PAAS) in 2017, the Calcatreu project is located in Argentina’s Rio Negro province and covers approximately 90,000 hectares. A 2018 mineral resource estimate for Calcatreu reported measured and indicated values of 669,000 ounces of gold and 6.28 million ounces of silver from 9.84 million metric tons of ore with average grades of 2.11 g/t gold and 19.8 g/t silver.

The company’s most recent news came on Thursday when it announced it had received full and final permitting approval to advance with construction at Calcatreau. The company is working to complete studies to develop heap leach operations at the site.

3. Trilogy Metals (TSX:TMQ)

Company Profile

Weekly gain: 54.44 percent
Market cap: C$238.14 million
Share price: C$1.39

Trilogy Metals is a polymetallic exploration and development company working to advance its Upper Kobuk mineral projects in Northern Alaska, US, which it owns in a 50/50 joint venture with South32( ASX:S32,OTC Pink:SHTLF).

Its most advanced asset is the Arctic copper, zinc, lead, gold and silver project, which is in the feasibility stage. In an updated feasibility study from February 2023, the company reported annual payable production volumes of 148.68 million pounds of copper, 172.6 million pounds of zinc, 25.75 million pounds of lead, 32,538 ounces of gold and 2.77 million ounces of silver.

After tax, the study pegged the net present value at US$1.11 billion, with an internal rate of return of 22.8 percent and a payback period of 3.1 years.

Trilogy’s other key asset is the Bornite copper-cobalt project located 25 kilometers southwest of its Arctic project. The site hosts widespread mineralization and has seen historic exploration dating back to the 1950s. A January 2023 technical report estimates inferred resources at 6.51 billion pounds of copper from 202.7 million metric tons of ore with an average grade of 1.46 percent.

Trilogy’s share price rose this past week, although the company’s most recent news was its Q3 results in October.

4. Jervois Global (TSXV:JRV)

Company Profile

Weekly gain: 50 percent
Market cap: C$30.02 million
Share price: C$0.015

Jervois Global is working to advance a global portfolio of nickel and cobalt projects. It owns the Idaho Cobalt Operations in the US, at which it suspended mine construction in 2023 due to low cobalt prices.

According to Jervois, the Idaho Cobalt Operations host the largest US cobalt resource. A 2020 feasibility study shows that they have a measured and indicated resource of 50.1 million pounds of cobalt from 5.24 million MT grading 0.44 percent, with inferred values of 12 million pounds of cobalt from 1.57 million MT grading 0.35 percent.

The company announced in June 2023 that it had entered into a US$15 million agreement through the US Department of Defense’s Defense Production Act for exploration activities at its property.

In its most recent announcement from the project, released on July 31, Jervois reported that extensional drilling at the Idaho Cobalt Operations had shown positive resource growth potential, with cobalt, gold and copper mineralization at depth. In the announcement, the company provides a highlighted result of 1.1 percent cobalt, 1.18 percent gold and 0.69 g/t gold over 1.8 meters.

Shares in Jervois Global gained this past week, but the company did not release any news.

5. Adex Mining (TSXV:ADE)

Weekly gain: 50 percent
Market cap: C$10.16 million
Share price: C$0.015

Adex Mining is maintaining its past-producing Mount Pleasant polymetallic project in Charlotte County, New Brunswick, Canada.

Mount Pleasant is composed of 102 mining claims covering 1,600 hectares., and hosts two primary zones of mineralization. According to the company’s website, the Fire Tower zone is home to deposits with indicated grades of 0.33 percent tungsten and 0.21 percent molybdenum from 13.49 million metric tons. The North Zone hosts indicated grades of 0.38 percent tin, 0.86 percent zinc, and 64 parts per million iridium.

While shares of Adex saw gains this week, the company has not released news.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

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

How many companies are listed on the TSXV?

As of June 2024, there were 1,630 companies listed on the TSXV, 925 of which were mining companies. Comparatively, the TSX was home to 1,806 companies, with 188 of those being mining companies.

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

How much does it cost to list on the TSXV?

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

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

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

How do you trade on the TSXV?

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

Data for this 5 Top Canadian Mining Stocks article was retrieved at 1:00 p.m. EDT on November 8, 2024, using TradingView’s stock screener. Only companies trading on the TSX and TSXVwith market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.

Article by Dean Belder; FAQs by Lauren Kelly.

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

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

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Heritage Mining Announces Oversubscribed Closing of the Final Tranche of its Non-Brokered Private Placement of Units and Flow-Through Shares

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(TheNewswire)

Heritage Mining Ltd.

VANCOUVER, BC TheNewswire – November 8, 2024 Heritage Mining Ltd. (CSE: HML) (‘ Heritage ‘ or the ‘ Company ‘) is pleased to announce that it has closed the final tranche (‘ Tranche Two ‘) of its non – brokered private placement financing previously announced on September 23, 2024 (the ‘ Offering ‘).

‘We are thrilled to announce the oversubscribed closing of our non-brokered private placement. We have deployed capital towards planned exploration activities including ongoing drone mag and prospecting at Drayton Black Lake –  Zone 3 as well as drone mag at Contact Bay (Rognan Mine area). We are making great progress and look forward to updating everyone on our findings in short order.’ Commented Peter Schloo, President CEO and Director

The Company raised an aggregate of $322,000 pursuant to Tranche Two, of which $ 47,000 was raised on the issuance of 940,000 units (‘ Units ‘) and $275,000 was raised on the issuance of 5,500,000 flow-through shares (‘ FT Shares ‘).  Each Unit was issued at a price per Unit of $0.05 and is comprised of one common share in the capital of the Company (‘ Common Share ‘) and one Common Share purchase warrant entitling the holder to acquire one Common Share for a period of 36 months at an exercise price of $0.10 (‘ Warrant ‘).  The FT Shares were issued at a price of $0.05 per FT Share which will qualify as a ‘flow-through share’ as defined in subsection 66(15) of the Income Tax Act (Canada).

The Company paid an aggregate of $21,620 in cash commissions and issued an aggregate of 332,400 compensation warrants (the ‘ Compensation Warrants ‘) in connection with Tranche Two.  Each Compensation Warrant entitling the holder to acquire one Common Share at a price of $0.05 for a period of 36 months following the date of issuance.

Proceeds of Tranche Two will be used to fund the Company’s previously announced exploration and drilling program on its flagship Drayton-Black Lake Project and Contact Bay, in addition to general working capital. All securities issued pursuant to the Tranche Two are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.

Insiders of the Company subscribed for 100,000 Units and 1,000,000 FT Shares under tranche one (‘ Tranche One ‘) of the Offering and 800,000 Units under Tranche Two of the Offering.  Each transaction with an insider of the Company constitutes a ‘related party transaction’ within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘ MI 61-101 ‘).  The Company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(a) in respect of such insider participation as the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25% of the Company’s market capitalization.

Together with the Tranche One, the Company raised an aggregate of $1,398,002, of which an aggregate of $533,000 was raised on the issuance of an aggregate of 10,660,000 Units and an aggregate of $865,002 was raised on the issuance of an aggregate of 17,300,040 FT Shares.  Together with Tranche One, the Company paid an aggregate of $64,400.12 in cash commissions and issued an aggregate of 1,149,602 Compensation Warrants.

As part of the closing of Tranche Two, the Company settled $33,212 in debt obligations through the issuance of 664,240 Common Shares at a price of $0.05.

ABOUT HERITAGE MINING LTD.

The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt . Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community.  The Company is well capitalized, with a tight capital structure.

For further information, please contact:

Heritage Mining Ltd.

Peter Schloo, CPA, CA, CFA

President, CEO and Director

Phone: (905) 505-0918

Email: peter@heritagemining.ca

FORWARD-LOOKING STATEMENTS

This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as ‘seek’, ‘anticipate’, ‘plan’, ‘continue’, ‘estimate’, ‘expect’, ‘forecast’, ‘may’, ‘will’, ‘project’, ‘predict’, ‘potential’, ‘targeting’, ‘intend’, ‘could’, ‘might’, ‘should’, ‘believe’, ‘outlook’ and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company’s estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company’s projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.

This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States, or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.

NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Copyright (c) 2024 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Republicans inch closer to ending China’s favored trade status

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Fresh off Tuesday’s red sweep, House Republicans have begun to renew the idea of ending China’s preferential trade status. 

They have begun to promote the idea of ending China’s Permanent Normal Trade Relations (PNTR). With Republicans seizing control of the White House and Senate, and being on track for a likely win in the House, the idea that was once considered a longshot now now become a likelihood. 

‘For too long, the Chinese Communist Party has taken advantage of America’s open hand with predatory economic practices that target the American economy, our workers, businesses, and our national security. We believe in free trade with free nations, but as the Committee recommended on a bipartisan basis, it is now time to reset our relationship with China by moving past PNTR to a trade relationship that reflects the threat we face from the CCP,’ a spokesperson for the House China Committee told Fox News Digital. 

In 2000, Congress voted to grant China permanent normal trade relations. The designation fundamentally changed China-U.S. trade relations: U.S. consumers gained access to low-priced Chinese imports, and between 2001 and 2021, the value of goods imported from China quadrupled to $500 billion.

Critics of PNTR say it allowed companies to outsource their manufacturing to China – and that renewed tensions with Beijing could lead to supply chain issues. 

Proponents of PNTR say that removing that status would cause inflation, allowing further tariffs on billions’ worth of Chinese goods. 

President-elect Donald Trump has already proposed an across-the-board 60% tariff on all Chinese goods and end China’s favored trade status. 

Repealing PNTR would automatically reset the tariffs on Chinese goods to higher levels. 

Trump could enact much of his trade agenda on goods he deems to be an ‘unusual and extraordinary threat’ to national security or the U.S. economy. 

The GOP’s platform unveiled in July called for an ending of PNTR. In September, Fox News Digital first reported that a group of Republican senators put forth a bill to end China’s PNTR and increase tariffs on many of its goods up to 100%. 

Over five years, the bill would increase tariffs by 100% on imports deemed ‘strategic’ to national security by the Biden administration in an effort to force the growth of the domestic market for national security-related goods. 

It would boost tariffs on non-strategic goods by a minimum of 35%. 

China is widely expected to respond with tariffs on U.S.-imported goods. China buys tens of billions of dollars’ worth of agricultural products, primarily soybeans, each year. 

The bill, led by Sen. Tom Cotton, R-Ark., and cosponsored by Sens. Marco Rubio, R-Fla., and Josh Hawley, R-Mo., would also grant the president the authority to institute further tariffs, quotas and bans on specific Chinese goods. It would end ‘de minimis treatment’ for China, or the value threshold below which imports are not subject to customs duties. 

The revenue generated, according to the bill, would go toward farmers and manufacturers injured by potential Chinese retaliation, the purchase of key munitions important to a Pacific conflict, and paying down the debt.

Fox News’ Liz Elkind contributed to this report. 


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