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Popular TP-Link routers could be banned after risks exposed

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A major national security debate is unfolding, and it affects more than government networks. It touches your home, your devices, and the Wi-Fi your family uses every day. The Commerce Department has proposed blocking new sales of TP-Link products after a months-long review into the company’s ties to China, citing a growing TP-Link security risk.

Multiple agencies, including Homeland Security and Defense, supported that proposal. They believe the company’s connections could expose American networks to foreign influence.

Security experts warn that foreign-backed hackers have targeted home and office routers for years. These devices often act as silent stepping stones that help attackers move deeper into sensitive systems. When compromised, they can expose everything connected to them, including computers, smart home gear, military devices used on base and more.

This potential ban would be one of the biggest consumer tech actions in U.S. history. It comes as lawmakers raise fresh alarms about Chinese-made cameras, routers and connected home products sold on military exchanges and in homes across the country.


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Why military families are even more vulnerable

Lawmakers from both parties say military households face extra risk. Sen. Joni Ernst (R-Iowa), who leads a bipartisan group of 23 lawmakers, warns that TP-Link cameras and networking devices sold on Army, Navy and Air Force exchange sites could expose sensitive footage from base housing and dorms. Rep. Ashley Hinson (R-Iowa) echoed that concern, saying these devices could act as a backdoor for Chinese intelligence to collect information on service members and their families. Even when products appear out of stock, officials worry they remain popular in military communities.

These lawmakers say Chinese laws could force companies to share data or push hidden software changes that weaken U.S. networks. They argue that this creates a real risk for households on or near military installations. While TP-Link disputes every allegation and states that it stores U.S. data inside America, lawmakers want a deeper investigation.

‘China will use any way to infiltrate us, and we must ensure they cannot access our homeland or military bases,’ said Ernst.’High-tech security cameras sending video and audio directly back to Beijing must be treated like the grave threat that they are. We have seen this playbook from China before, with Huawei Technologies, and need the Trump administration to investigate and determine if TP-Link is a trojan horse compromising our national security.’

How Congress is responding to TP-Link security risks

Sen. Ernst is pressing the Commerce Department to finish its investigation by November 30. Sen. Tom Cotton (R-Arkansas), who chairs the Senate Intelligence Committee, says TP-Link could give the Chinese government access to American networks and wants faster action. Their concerns reflect past decisions involving Huawei and Kaspersky, which lost access to the U.S. market due to national security risks.

Congressional leaders say foreign-made smart home devices sold on military bases should face strict scrutiny. They see routers, cameras and other connected home gear as critical targets in a time when cyberthreats continue to grow.

We reached out to TP-Link Systems Inc., and a spokesperson provided CyberGuy with the following statement:

‘TP-Link Systems Inc. (TP-Link), an American company based in California, refutes the claims in this letter. This letter repeats false and misleading media reports and attacks that have been thoroughly debunked.

TP-Link emphatically objects to any allegation it is tied to the Communist Party of China, dependent on the Chinese government, or otherwise subject to interference under Chinese national security laws. The company is not controlled by any government, foreign or domestic. TP-Link has split from and has no affiliation with the China-based TP-LINK Technologies Co. Ltd., which is separately owned and operated.

This letter has nothing to do with security and everything to do with a competitor trying to remove TP-Link Systems’ products from the marketplace. The ‘open source information’ the members reference is actually a manufactured echo chamber of false and misleading attacks that the media has parroted over the past year. Instead of directly engaging with TP-Link Systems, these members essentially pressed ‘copy and paste’ on unsubstantiated claims about our American company.

TP-Link has not been contacted by policymakers to discuss the alleged concerns, but if we were to meet with them, they would learn that TP-Link has located its core security functions and data infrastructure in the United States. U.S. user data is securely stored on Amazon Web Services infrastructure in Virginia, under the full control of the company’s U.S. operations.

TP-Link Systems currently holds a very small share of the U.S. security camera market, representing approximately 3% of the consumer market segment according to Circana checkout data. The company has virtually no business presence in the enterprise segment. Additionally, TP-Link Systems’ router market share in the U.S. has been inaccurately reported as being much higher than it actually is. Recent market research from Dell’Oro Group, Inc., found that TP-Link Systems’ market share of residential Wi-Fi router sales in North America is under 10%.

TP-Link does not enable foreign surveillance of U.S. networks or users. The company’s operations are built to prevent potential attempts to subvert its business by outside influence. TP-Link’s substantial security investments cover its entire product portfolio, including security cameras and routers.

TP-Link continually monitors its products and services and takes timely and appropriate action to address vulnerabilities it becomes aware of. TP-Link has not identified any reliable information regarding new vulnerabilities in its products in connection with this letter.’

Steps to protect yourself from this growing threat

Even as the debate continues, you can take simple steps to secure your home. These easy moves help defend against threats tied to any router brand.

1) Check your router and update it

Look at the brand on your router. Then update the firmware through the official app or web dashboard. If your device is several years old or no longer supported, replace it. Check out our article on the top routers for the best security at

2) Change your Wi-Fi and admin passwords

Default passwords are dangerous. Create strong, unique passwords for both your Wi-Fi and the router’s admin panel. Consider using a password manager, which securely stores and generates complex passwords, reducing the risk of password reuse.

Next, see if your email has been exposed in past breaches. Our #1 password manager (see Cyberguy.com) pick includes a built-in breach scanner that checks whether your email address or passwords have appeared in known leaks. If you discover a match, immediately change any reused passwords and secure those accounts with new, unique credentials.

Check out the best expert-reviewed password managers of 2025 at

3) Use strong antivirus protection on every device

Threats like this continue to grow. Install strong, real-time antivirus protection on every computer, phone, and tablet in your home. The best way to safeguard yourself from malicious links that install malware, potentially accessing your private information, is to have strong antivirus software installed on all your devices. This protection can also alert you to phishing emails and ransomware scams, keeping your personal information and digital assets safe.

Get my picks for the best 2025 antivirus protection winners for your Windows, Mac, Android & iOS devices at

4) Turn off any of these features you do not need

Disable remote access, WPS and extra features you never use. These settings can open doors for attackers.

5) Put smart home devices on a guest network

Keep laptops and phones on your main network. Put cameras, plugs, TVs and IoT devices on a separate guest network so they cannot reach your sensitive devices.

Take my quiz: How safe is your online security?

Think your devices and data are truly protected? Take this quick quiz to see where your digital habits stand. From passwords to Wi-Fi settings, you’ll get a personalized breakdown of what you’re doing right and what needs improvement. Take my Quiz here:

Kurt’s key takeaways

The debate around TP-Link shows how something as routine as a home router can become part of a broader security conversation. Whether or not the government issues a ban, this moment is a clear reminder that cybersecurity starts at home. Small steps make a meaningful difference in how well your devices stand up against foreign-backed hacking groups.

Should the government ban router brands linked to foreign influence or should consumers decide for themselves? Let us know by writing to us at


Get my best tech tips, urgent security alerts and exclusive deals delivered straight to your inbox. Plus, you’ll get instant access to my Ultimate Scam Survival Guide — free when you join my newsletter.

Copyright 2025 CyberGuy.com. All rights reserved.


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Meet the Texas Stock Exchange: Wall St Finally Gets Competition

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For more than a century, America’s stock listings have been dominated by two addresses: Wall Street’s New York Stock Exchange and Nasdaq’s MarketSite in Times Square. That may soon change. On September 30, 2025, the US Securities and Exchange Commission approved the Texas Stock Exchange (TXSE) to operate as a national securities exchange.

Headquartered in Dallas and backed by major financial institutions, TXSE plans to begin trading in early 2026 — marking the first serious challenge in decades to the entrenched exchange duopoly and opening a new chapter for American capital markets.

Texas offers both symbolism and substance for such an endeavor. With roughly $2.7 trillion in annual economic output, the state represents about one-tenth of the entire US economy. It is home to more than a tenth of the nation’s publicly listed companies, and its mix of rapid growth, favorable taxes, and business-friendly regulation makes it a natural candidate for a financial hub. The creation of a new national exchange in Dallas isn’t just a regional milestone — it’s a sign that financial innovation is no longer bound to Manhattan’s geography or culture.

The Texas Stock Exchange aims to reintroduce competition into a sector that has grown listless and increasingly consolidated. It’s undoubtedly true that the existing exchanges have played a crucial role in maintaining transparency and corporate accountability; their listing standards have strengthened governance and investor protections. Yet those same regulatory frameworks have also drifted into areas far removed from financial performance. In recent years, both the NYSE and Nasdaq have woven social and political priorities — what critics describe as wokeness — into disclosure and board-composition rules. They are costly distractions from capital formation. The TXSE proposes a more neutral approach: maintaining high financial and ethical standards while allowing firms to focus on profitability, innovation, and shareholder value.

What distinguishes the TXSE is not a break from federal oversight — the SEC will supervise it under the same 1934 Exchange Act framework — but a fresh philosophy of exchange governance. Its listing rules, approved by the SEC in late 2025, emphasize issuer friendliness without relaxing quantitative standards. Companies may request confidential pre-application eligibility reviews at no cost, an innovation that can save months of uncertainty and advisory fees. The exchange also plans lower recurring costs and streamlined compliance obligations, designed to appeal especially to midsize and emerging-growth firms that find New York’s red tape prohibitive. For issuers, the advantages are procedural rather than ideological: less bureaucracy, clearer guidance, and faster time to market — all within the same legal protections that govern other national exchanges.

Importantly, the TXSE is not creating a parallel arbitration or mediation framework distinct from existing US securities law. Disputes will remain under conventional regulatory and judicial channels. What TXSE offers instead is predictability and professional competence — a governance regime grounded in financial expertise rather than social activism or politicized mandates. Texas’s recent corporate-law reforms, offering expanded safe harbors for directors and officers of Texas-based or TXSE-listed corporations, further reinforce that business-friendly environment.

Publicly traded companies are not abstract entities — they are the backbone of the US economy. Collectively, they employ roughly 28 million Americans, investing hundreds of billions each year in facilities, equipment, research, and expansion. Publicly traded paper also allows firms that might not be cash-rich to acquire or merge with others, achieving efficiencies of scale, spreading innovation faster, and delivering better and more affordable products and services to consumers. When those firms can operate and raise capital efficiently, the benefits ripple widely through communities and households alike.

If successful, the TXSE’s impact may reach far beyond the companies it lists. A dynamic marketplace disciplines incumbents: the very existence of a new exchange could push legacy venues to innovate, lower costs, and revisit how they define “best practices.” As competition increases, issuers may find not only a cheaper but also a fairer playing field — one where governance expectations are tied to financial prudence rather than fashionable politics.

Building an exchange is no small task. To achieve price discovery, a critical mass of liquidity is necessary, and accumulating that liquidity depends on both performance and confidence. The NYSE, Nasdaq, and other market centers have deep, long-established pools of trading activity that reinforce their dominance. For TXSE to thrive, it must persuade a broad array of market participants — from investment banks and hedge funds to retail brokerages and pension funds — that Dallas can host a market as vibrant and reliable as New York’s. (JP Morgan has already asserted its view on that matter.) That will require trust, technological strength, and seamless integration with the national trading network.

Yet Texas’s position is unusually strong. Its economy is vast and diversified; its infrastructure modern; its talent base deep in both finance and energy technology. A more geographically diverse system of exchanges spreads operational risk, encourages regional specialization, and gives investors and entrepreneurs alternatives to the cultural and regulatory monolith that New York has become. TXSE’s lower listing costs, emphasis on issuer engagement, and alignment with Texas’s pro-business climate make it the most credible new exchange entrant in generations.

To the uninitiated observer, another stock exchange might sound redundant, or more cynically like another gaming venue for the wealthy. The current US President, in fact, once expressed the view that the New York Stock Exchange is “the biggest casino in the world.” 

In truth, exchanges are the plumbing of capitalism — the place where savings become investment and new industries find their footing. By one account, Ludwig von Mises once commented that stock exchanges are ultimately the dividing line between market and collectivist economic systems. Murray Rothbard recounted (“Making Economic Sense”):

One time I asked Professor von Mises, the great expert on the economics of socialism, at what point on this spectrum of statism would he designate a country as “socialist” or not. At that time, I wasn’t sure that any definite criterion existed to make that sort of clear-cut judgment. And so I was pleasantly surprised at the clarity and decisiveness of Mises’s answer. “A stock market,” he answered promptly. A stock market is crucial to the existence of capitalism and private property. For it means that there is a functioning market in the exchange of private titles to the means of production. There can be no genuine private ownership of capital without a stock market: there can be no true socialism if such a market is allowed to exist.

A more competitive and decentralized exchange system strengthens that foundation and keeps commercial blood flowing through the country’s economic arteries.

Despite socialistic structural rigidities, changes are coming to US financial markets, albeit slowly. With its regulatory green light secured, and trading expected to begin in early 2026, the Texas Stock Exchange represents more than a new address for American capital markets. It is a bet on openness, competition, and the belief that — just as in the marketplace for ideas — the market for capital works best when it is competitive and free.

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Why Blaming Walmart and Amazon for Public Assistance Is Misguided

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With SNAP funding in the news, we’re seeing a revival of a familiar complaint against big business. The reason millions of Americans need public benefits like SNAP, critics say, is that their employers don’t pay them enough.

As one columnist recently put it, corporations “have taken advantage of Medicaid, food stamps, and other safety net programs for years to get out of paying their workers a living wage by sticking the taxpayers with the expense.” These corporations are to blame for people’s need for public assistance, and they should pay their workers more so that they’ll rely less on safety net programs funded by taxpayers. 

But this complaint is morally confused. To see why, let’s start with a simple point: an employer is a buyer of labor. So when critics say that big corporations should raise their employees’ wages to the point where they don’t need public assistance, what they’re really saying is that corporations should pay more for what they buy. But we shouldn’t assume that merely buying something from someone obligates you to pay them so much that they never need public assistance, rather than simply paying them the mutually agreeable price. 

Here’s an analogy. Scarlett likes to buy scarves from Wes on eBay. Whenever Wes lists a scarf for auction, Scarlett makes the highest bid. In short, she’s his best customer. But times get tough for Wes. He begins to struggle to pay rent and buy groceries. Scarlett keeps winning the auctions for Wes’s scarves and sending payments his way, but it’s not enough to keep him off SNAP.

Politicians and commentators learn about Wes’s situation and place the blame squarely on one person: Scarlett.

If only she had paid more than the auction price for his scarves, they argue, Wes wouldn’t need SNAP benefits. According to one columnist, “Scarlett is taking advantage of the government’s safety net to get out of paying Wes enough to live on and sticking taxpayers with the expense.” 

The moral condemnation of Scarlett would be downright bizarre, and it’s not hard to see why. Remember, Scarlett is Wes’s best customer — she offers more for his scarves than anyone else. If anything, we should have the least complaint against her. She’s already given Wes thousands of dollars while other customers have given him less or nothing at all. Scarlett is doing more than anyone else to benefit Wes, so it’s strange to single her out for blame. 

Now turn back to big businesses like Walmart and Amazon. Just as Scarlett is Wes’s best customer, so too is Walmart its employees’ best customer — that is, it made them the best offer for their labor.

We know this because if Walmart hadn’t made them the best offer, those employees would be working somewhere else instead. Workers accept the best offer for their labor just as weavers accept the best offer for their scarves. So, as with Scarlett, we should have the least complaint against Walmart, not the most. Other employers either made Walmart workers worse offers or made them no offer at all. Since Walmart is doing more than anyone else to benefit Walmart workers, it’s strange to single it out for blame. 

You might reply that I’m overthinking things. The simple truth is that Walmart should pay its employees more because it can afford to pay them more. But this view assumes you’re obligated to pay more for something simply because you can afford to do so — and that’s a dubious assumption. 

Think back to Scarlett. Suppose that she could afford to pay Wes more for his scarf than what turned out to be the winning bid. While it might be generous of her to do so, that seems more like charity than fulfilling an obligation. When someone sells you a scarf, a cup of coffee, a gym membership, or an hour of labor, you don’t thereby incur a duty to pay them whatever it takes to fix their personal finances. You simply owe them the agreed-upon price. 

And that agreed-upon price isn’t arbitrary — it reflects supply and demand in the case of labor just as it does for anything else. A scarf sells at a price where someone is willing to buy it and someone else is willing to let it go. Labor is no different: wages settle where workers are willing to offer their time and employers are willing to buy it. If the wage is set too high, people will be less likely to hire workers; if it’s too low, people will be less likely to work.

Even if you insist that rich customers like Scarlett do have a moral obligation to pay Wes more for his scarves, it doesn’t follow that government officials should force her to do so. The mere fact that you should do something — be it paying more for a scarf, driving a good friend to the airport, or visiting your sick sibling in the hospital — doesn’t establish that it’s the government’s job to make you do it. Plus, forcing Wes to raise his prices would likely backfire: if the government required Scarlett and other customers to pay more for his scarves, they’d be less likely to buy them, leaving Wes even worse off than before. 

The parallel to employers is clear. Even if you think that buyers of labor should pay more if they can afford to do so, it doesn’t follow that the state should make them. And here again, the proposed policy would probably backfire: by making workers costlier to hire, it would discourage employers from buying their labor at all — leaving them not with higher wages, but with no job. At the bare minimum, we should ensure that any policy intended to benefit workers doesn’t harm the very people it aims to help. 

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Prismo Develops Additional Drill Targets at Silver King Provides Update on Drill Permit

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(TheNewswire)

Prismo Metals Inc.

Vancouver, British Columbia, November 19, 2025 TheNewswire – Prismo Metals Inc. (the ‘ Company ‘) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to report that it has completed a detailed exploration program at the Black Diamond area of its Silver King Project located in Arizona. Work consisted of mapping and sampling of the area including the Black Diamond copper replacement body and the newly encountered strongly altered felsic intrusion with stockwork veining.  A handheld XRF analyzer was used to complete a soil geochemistry grid and to analyze selected rock samples in a qualitative manner. Additionally, an IP survey was recently initiated over the Silver King land package, with results expected by the first week of December.

Figure 1 .  Map showing the location of the Black Diamond replacement and felsic intrusion exploration targets at the Silver King project.  Claim boundaries are shown in yellow.

The soil survey defined a large copper anomaly over the Black Diamond replacement body along with some anomalous gold values. Previous rock samples have shown the copper-gold association of mineralization in replacement mineralization. The soil survey also showed Zn, Pb, Ag and Sb anomalies associated with the felsic intrusion. This intrusion is strongly sericitized and is cut by moderate to strong stockwork quartz veins with locally abundant iron oxides after pyrite.

XRF analysis of rock samples in the area was also completed. Although XRF analyses on rocks are generally qualitative and are not valid assays as are rock samples assayed by the geochemical laboratories, they do indicate the presence of the metals of interest and are useful as guides to mineralization.

XRF analyses of individual quartz veinlets in the stockwork hosted by the felsic intrusion locally indicate the presence of silver, lead and zinc as well as some antimony.  During the exploration program, Prismo’s geological team took 34 rock chip samples over the area. These samples were submitted to the laboratory with assay results expected in the coming weeks.

Craig Gibson, Chief Exploration Officer of the Company, stated: ‘These results confirm Black Diamond as a copper-gold replacement body target as was indicated from previous work, making this area a compelling drill target. The data collected from the felsic intrusion indicated that it is mineralized, a feature that was not indicated in reports from previous work by Fischer Watt in 1980, although they considered it a prime target based on alteration mineralogy and fluid inclusion studies 1 .’

Drill Permit Update

Prismo also announced that the Forest Service, the federal surface land management entity for Silver King, has determined that the Company’s proposed drill plan meets the regulatory requirements for processing, and that such plan is complete, as described in the regulations at 36 CFR 228.4(c).

The Forest Service will now proceed with the environmental analysis pursuant to 36 CFR 228(a)(5) in conformity with the National Environmental Policy Act (NEPA). This analysis will proceed as a Categorical Exclusion, the lowest level of environment reviews applicable to projects that are not expected to have a significant effect on the environment, such as Silver King.

Alain Lambert, CEO of Prismo stated: ‘We are pleased with the steady progress on the permitting front, especially given the now resolved US government ‘shutdown.’

Mr. Lambert added: ‘With the closing of our recent oversubscribed financing, we are fully funded for the first two phases of drilling. In Phase 1, we plan a drill program at the historic Silver King mine site for about 1,000 meters. That drill plan is designed to test the upper half of the steeply dipping pipelike Silver King mineralized body as well as potential mineralization adjacent to the dense stockwork that was the focus of historic mining.’

Figure 2 . Cross section through the Silver King mine workings showing proposed drill holes (in black) to test the pipelike mineralized body (in red)

Given the Company’s recent discoveries, Prismo has added a second phase of drilling for an additional 1,000 meters. This additional program will focus on the newly identified targets outside of the historic mining area, such as the polymetallic vein and the copper vein mentioned above. Drilling of the large body of replacement mineralization on the patented Black Diamond claim is also being planned and is road accessible on private ground.

1 Haynes, F. and Reynolds, 1980, Silver King Breccia Pipe Prospect, unpublished report, Fischer-Watt Mining Co., 5p.

QA/QC

XRF analyses are considered to be qualitative in nature and cannot be considered to be representative of commercial assays.  XRF soil analyses are useful as they indicate variations in metal contents to represent anomalies, although the actual values of the metals present are not necessarily the same as those obtained from commercial geochemical analyses.  The company uses commercial standards when using the XRF analyzer.

Qualified Person

Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosures in this news release.  The historic data presented in this press release was obtained from public sources, should be considered incomplete and is not qualified under NI 43-101, but is believed to be accurate. The Company has not verified the historical data presented and it cannot be relied upon, and it is being used solely to aid in exploration plans. References to mineralization at the Magma Mine and Resolution Copper deposit is not necessarily indicative to the mineralization on the Silver King property.

About the Silver King

Discovered in 1875, the Silver King mine was one of Arizona ‘ s most important historic producers, yielding nearly 6 million ounces of silver at grades of up to 61 oz/t.  The Silver King mine sits only 3 km from the main shaft of the Resolution Copper project — a joint venture between Rio Tinto and BHP and one of the world ‘ s largest unmined copper deposits with an estimated copper resource of 1.787 billion metric tonnes at an average grade of 1.5% copper (1) . The unique land position is fully surrounded by Resolution Copper ‘ s claim block, offering strategic upside. Selected samples from small-scale production in the late 1990s returned grades as high as 644 oz/t silver (18,250 g/t) and 0.53 oz/t gold (15 g/t), indicating that high-grade mineralization remains.

About Prismo Metals Inc.

Prismo (CSE: PRIZ,OTC:PMOMF) is a mining exploration company focused on advancing its Silver King, Ripsey and Hot Breccia projects in Arizona and its Palos Verdes silver project in Mexico.

Please follow @PrismoMetals on , , , Instagram , and

Prismo Metals Inc.

1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6

Phone: (416) 361-0737

Contact:

Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com

Gordon Aldcorn, President gordon.aldcorn@prismometals.com

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘ intends’ or ‘ anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘ may’, ‘ could’, ‘ should’, ‘ would’ or ‘ occur’. This information and these statements, referred to herein as ‘forward‐looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Silver King.

These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Silver King.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund the drilling campaign at Silver King and the timing of such drilling campaign.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Mineral Resource Estimate Updated for the Cowboy State Mine Area at Halleck Creek

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American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) (“ARR” or the “Company”), is pleased to announce an updated Mineral Resource Estimate for the Cowboy State Mine area within its flagship Hallack Creek Rare Earths Project. The update incorporates the results from 18 additional channel samples and coincides with the acquisition of two new exploration drilling permits.

Highlights

  • Updated Mineral Resource Estimate in the Cowboy State Mine (“CSM”) Area RECLASSIFIES INDICATED RESOURCE BY 68.4 MILLION TONNES.
    • 102 Channel Samples collected in 2025 provided data points for an updated geological resource model, resource conversion and mineral resource ESTIMATE
    • Summer exploration and mapping collected 18 additional channel samples across the CSM area
      • 18 Channel samples returned average values of 5,471 ppm Total Rare Earth Oxides (TREO)
      • Standout sample (CS25-RM111) contained a new record high assay grade for the entire Halleck Creek Resource with a Total Rare Earth Oxide (“TREO”) grade of 13,816 PPM, which is 4X higher than the resource average
  • New exploration drilling permits obtained at Halleck Creek:
    • 27 hole locations were permitted at the CSM area for the Development drilling needed for future technical studies beyond the Pre-Feasibility Study (“PFS”)
    • 29 hole locations were permitted at the Bluegrass area, a potential exploration target which would add to total Halleck Creek Mineral Resource Estimates

Odessa Resource Ltd. (“Odessa”), of Perth Australia, were commissioned to update the geological resource model for the CSM Area using 102 channel samples collected during 2025. The locations and assays for the 102 channel samples added to the geological resource model reside in Appendix B. The updated mineral resource estimate for the Cowboy State Mine area is approximately 547.5 million tonnes using a TREO cut-off grade of 1,00ppm, see Table 1 and Figure 4. The channel sample results enabled Odessa to reclassify approximately 63.9 million tonnes to the indicated category from the inferred category from the Mineral Resource Estimate presented in the February 2025 updated CSM Scoping Study1, see Table 2. Additional mapping associated with the channel sampling expanded the resource area to increase the CSM mineral resource estimate by approximately 4.5 million tonnes. It should be noted that the overall tonnage increase and change in grade do not reflect a material change to the total resource estimates for the Cowboy State Mine area.

Click here for the full ASX Release

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Hydrogeological Testing Underway at Lo Herma

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American Uranium Limited (ASX:AMU, OTC:AMUIF) (American Uranium, AMU or the Company) is pleased to advise that hydrogeological testing at its Lo Herma ISR uranium project in Wyoming’s Powder River Basin has commenced. Testing is being undertaken by Petrotek Corporation, a leading injection well and subsurface resources consultancy with more than 28 years of experience in hydrogeological testing and ISR resource development.

Highlights

  • Hydrogeological testing at Lo Herma has commenced, marking a key milestone in advancing towards ISR project development
  • Testing is expected to take approx. 2 weeks with results anticipated by the end of 2026
  • Phase 1 of the resource development drilling campaign at Lo Herma is underway and progressing well with over half of the planned program completed. Initial results are expected before the end of 2026
  • These programs are designed to underpin a Mineral Resource Estimate and Scoping Study update in 2026.

This testing is running concurrently with Phase 1 of the resource development drilling campaign which is progressing well and is now past the halfway point of the resource expansion program. Drilling results are expected by the end of 2026. The hydrogeological testing fieldwork program is expected to be complete during the week commencing November 24th, with results anticipated before the end of 2026.

AMU CEO and Executive Director Bruce Lane commented:

“We are very pleased to now have both the hydrogeological testing and resource development drilling programs underway at Lo Herma. These programs represent major steps toward advancing one of America’s most promising ISR uranium projects. Lo Herma is one of the few near-term, low-cost ISR projects in the U.S. The hydrogeological testing aims to validate our initial aquifer observations and confirm aquifer transmissivity.

“The first phase of drilling is now well underway and past the halfway point with an objective to grow the current 8.57Mlb resource base and ultimately feed into an updated Mineral Resource Estimate and Scoping Study in 2026, positioning us to capitalise on significant support programs in place to support the US domestic nuclear fuel supply chain.”


Click here for the full ASX Release

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House Freedom Caucus bid to censure Democrat over Epstein links goes down in flames

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A House Freedom Caucus-led bid to strip a member of the House Democratic Caucus of her role on a high-profile committee after her ties to Jeffrey Epstein were revealed earlier this month failed on Tuesday night.

Lawmakers voted against censuring Del. Stacey Plaskett, D-V.I., the Virgin Islands’ nonvoting delegate in the House of Representatives, over newly surfaced text messages between her and Epstein that were exchanged during the February 2019 congressional testimony of Michael Cohen.

The censure had also included language to remove Plaskett from the House Permanent Select Committee on Intelligence, which oversees entities like the FBI and CIA and regularly receives classified briefings on matters of national security.

Three Republicans joined Democrats to kill the measure, while three more Republicans voted ‘present.’ It ultimately failed in a 209-214 vote.

The three Republicans who voted against censuring Plaskett were Reps. Lance Gooden, R-Texas, Don Bacon, R-Neb., and Dave Joyce, R-Ohio.

House Homeland Security Committee Chairman Andrew Garbarino, R-N.Y., voted ‘present’ along with Reps. Dan Meuser, R-Pa., and Jay Obernolte, R-Calif.

Rep. Ralph Norman, R-S.C., who introduced the resolution, said during debate on the measure on Tuesday, ‘The House of Representatives has a responsibility and a duty to protect the integrity of this institution. And what we learn from the documents released by Jeffrey Epstein’s estate is nothing short of alarming.’

‘Those documents show that Delegate Stacey Plaskett, a sitting member of Congress, coordinated her questioning during an Oversight — an official Oversight hearing, with a man who was a convicted sex offender, a man whose crimes against minors shocked this entire nation.’

Rep. Jamie Raskin, D-Md., who led Democrats’ rebuttal against the resolution, called the measure ‘one more pathetic effort to distract and divert attention from the fact that the president’s name appeared more than a thousand times already in the small fraction of material released on Epstein.’

He also repeatedly referred to Epstein as Plaskett’s ‘constituent’ over his primary residence having been in the Virgin Islands.

Texts exchanged during the 2019 hearing, in which Cohen accused President Donald Trump of a scheme to pay off mistresses to hide evidence of extramarital affairs during his 2016 presidential bid, show Epstein taking a heavy interest in Plaskett’s questioning.

Epstein appeared to guide Plaskett’s lines of questioning at times. One text showed him saying, ‘Hes opened the door to questions re who are the other henchmen at trump org.’

Plaskett was shown to respond, ‘Yup. Very aware and waiting my turn.’

Republicans have seized on Plaskett’s messages with Epstein as proof of a double standard by Democrats on the late pedophile financier’s case.

House Democrats have been arguing for transparency in pushing to uncover any potential improper links between Trump and Epstein but have been largely silent on Plaskett in the days since her ties to him surfaced.

Neither Plaskett nor Trump has been accused of any wrongdoing connected to Epstein’s crimes, however.

Raskin accused Republicans on Tuesday of robbing Plaskett of her right to due process.

‘Without even going to the Ethics Committee, much less a court, they want to arraign her on some charges based on a newspaper article, that she did something lawful — however ill-advised — it may have been. She took a phone call from one of her constituents,’ Raskin said.

‘Where is the ethical transgression? Where is the legal transgression? Are you saying anybody on your side of the aisle who had a phone call with Jeffrey Epstein should be censured?’

Plaskett’s texts with Epstein were reported in a number of media outlets, but they were first found in a tranche of documents from Epstein’s estate and handed over to the House Oversight Committee.

‘I got a text from Jeffrey Epstein, who, at the time was my constituent — who was not public knowledge at that time, that he was under federal investigation — and who was sharing information with me,’ she said in her own defense on Tuesday.

Plaskett also pointed out her years of experience as a prosecutor when arguing she was not seeking advice on her line of questioning.

It’s worth noting, however, that while the federal probe into Epstein was not public knowledge, he first faced charges related to the exploitation of underaged girls as early as 2006.

The vote comes after a Democrat-led bid to refer Plaskett’s case to the House Ethics Committee, rather than moving forward with the censure resolution, failed to pass in a narrow 213-214 vote.

The House of Representatives had earlier moved to force the Department of Justice (DOJ) to release all of its unclassified Epstein files in an overwhelming 427-1 vote.


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Trump designates Saudi Arabia a major non-NATO ally during crown prince’s White House visit

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President Donald Trump on Tuesday announced that the U.S. will designate Saudi Arabia a major non-NATO ally, unveiling a defense and economic partnership with Crown Prince Mohammed bin Salman during a White House dinner marking 80 years of U.S.–Saudi relations.

Trump welcomed guests at the official dinner and thanked bin Salman for his visit and investment in the U.S. The crown prince gave brief remarks, thanking Trump and expressing his gratitude while saying he was looking forward to a continued partnership between the U.S. and Saudi Arabia.

Before announcing the new designation, Trump reflected on the nations’ long relationship, recalling a 1945 meeting between President Franklin Delano Roosevelt and King Abdul Aziz.

‘It’s a special privilege to welcome his royal highness to Washington this year, as we mark the 80th anniversary of the first meeting between [a] U.S. President and a Saudi king,’ Trump said. ‘The two became immediate and warm friends … and right now you have the best friend you’ve ever had.’

He added that ever since the U.S. and Saudi Arabia have been ‘enduring partners,’ they were ‘making that partnership closer and stronger than ever before’ Tuesday night. 

Trump said the partnership reached a new level after a day of meetings and signings with bin Salman. He praised Saudi Arabia’s modernization, calling it ‘an economic engine and a modern-day miracle,’ and said new agreements in energy, minerals and artificial intelligence were ‘unprecedented.’

He added that Saudi Arabia had agreed to boost its investment in the U.S. from $600 billion to $1 trillion, a move he said would create American jobs and further strengthen the growing alliance.

‘So, that’s why tonight I’m pleased to announce that we’re taking our military cooperation to even greater heights by formally designating Saudi Arabia as a major non-NATO ally, which is something that is very important to them,’ Trump said.

He added that both countries had just signed ‘a historic strategic defense agreement,’ calling it proof of ‘a stronger and more capable alliance’ that would serve ‘the highest interest of peace.’

The announcement followed Trump saying Saudi Arabia would invest $1 trillion in the U.S., doubling an earlier pledge.

‘He said, ‘I am going to up that to $1 trillion,” Trump told the audience. ‘So, he’s investing $1 trillion into the United States … and now you have the hottest country anywhere in the world.’

Trump also pointed to what he called the largest arms purchase in history — $142 billion in American military equipment and services — and said the move ‘will mark and make both of our nations safer and cement the kingdom’s role as a key force for stability and security in the Middle East.’

The president said the new defense pact would make both nations safer and referenced a recent U.S. military operation using B-2 bombers against what he described as an Iranian nuclear threat.

‘Saudi Arabia has never been as safe as it is right now,’ he said. ‘You always had a little cloud over your head. … That cloud is not there anymore.’

After the announcement, Trump tied the agreement to his broader Middle East peace agenda, citing the end of the war in Gaza, the return of hostages and a U.N. resolution endorsing his ‘Board of Peace’ initiative.

‘This is a board like no other,’ he said. ‘It will have the heads of major countries … and I was honored to be chosen the chair.’

Bin Salman thanked Trump for the ‘warm and great welcome,’ calling the day ‘special’ and emphasizing the growing economic relationship between the two countries.

The crown prince also said he believed this is a huge opportunity and vowed to remain focused on implementing and increasing opportunities between both countries.

Trump closed by saying the alliance marked the strongest moment in U.S.–Saudi relations since Roosevelt’s meeting with King Abdul Aziz.

‘Someday, maybe we’ll talk about us as being two wonderful men,’ he said. ‘Forget about great — wonderful is OK — but two wonderful men that did tremendous work for their countries.’


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Top 10 Gold ETFs in 2025

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Gold exchange-traded funds, or gold ETFs, have risen in popularity among investors who want precious metals exposure.

ETFs are similar to mutual funds in that they track assets such as stocks, bonds, currencies or commodities; a key difference is that ETFs can be bought and sold on exchanges, making them widely accessible. They provide considerable flexibility in implementing various investment strategies and in building investment portfolios.

Like other ETFs, gold ETFs are traded in the same manner as individual stocks, meaning that investing in the gold ETF market is similar to trading a stock on an exchange.

There are two main types of gold ETFs: those that track the gold price and those that hold investments in gold companies.

ETFs that follow the gold price give investors access to the yellow metal by holding either physical gold bullion or gold futures contracts. It is important to keep in mind that investing in the majority of gold ETFs does not allow investors to own any physical gold — in general, even a gold ETF that tracks physical gold cannot be redeemed for actual gold, although there are a few exceptions to that.

One more thing to keep in mind is that gold ETFs that hold physical gold are taxed as collectibles in the US, giving them a higher maximum capital gains rate, which is worth noting for investors in the highest tax bracket.

The other type of gold ETF invests in gold companies, providing exposure to gold mining, development and exploration stocks, as well as gold royalty stocks.

Read on to learn about the benefits of adding gold ETFs to your portfolio, the five largest gold ETFs by total assets and five top gold miner ETFs.

In this article

    What are the benefits of gold ETFs?

    Gold ETFs are fairly common today, and are a good choice for investors who want to invest in precious metals without trading gold futures or owning physical gold, such as gold coins or bars.

    But gold ETFs are often considered a lower-risk investment, as they have a number of benefits for market participants and can open up a portfolio to diversification.

    For example, physical gold is known for being a hedge against economic and political uncertainty, and owning shares of a gold ETF that offers exposure to the gold spot price provides investors with this same security without the hassle of buying and storing the yellow metal.

    Since gold tends to rise when the US dollar is weak, purchasing a gold ETF could balance out any investment that has the potential to decline when the greenback does. Conversely, selling gold ETF holdings can be beneficial when the US dollar is making gains.

    Gold ETFs that track gold companies give investors exposure to multiple companies in the space rather than having to choose specific stocks. This is an appealing option for those who want exposure to the sector without carrying the risks of investing in an individual stock.

    Gold ETFs as a whole also offer security in that they are managed by yellow metal experts, so there is a better chance of making a profit than going it alone. Of course, it is important to keep in mind that, despite their less risky nature, gold ETFs are still affected by the rise and fall of the gold price.

    Mutual funds are often compared to ETFs, but due to the fact that mutual funds can only be bought or sold at the close of the trading day, gold ETFs become more beneficial as they can be traded whenever the stock market is open, meaning movement is more liquid and not tied down by end-of-day trades.

    Top 5 spot gold ETFs

    The five gold ETFs below offer investors exposure to the spot price of gold by holding gold bullion. These options may be worth considering when it comes to getting exposure to the yellow metal’s price movements.

    According to ETFdb.com, these gold ETFs were the largest gold ETFs by total assets as of November 13, 2025. The five largest gold ETFs all track the gold price.

    1. SPDR Gold Shares (ARCA:GLD)

    Total assets under management: US$139.14 billion
    Unit price: US$380.58

    The SPDR Gold Shares tracks the spot price of gold bullion and is determined by market forces in the 24 hour, over-the-counter market for gold. This market accounts for most global gold trade, and any quoted prices available to ETF investors reflect the latest available information.

    Physical bullion comprises 100 percent of the ETF’s holdings, and its expense ratio is 0.4 percent. It offers investors a way to invest in gold that is much less costly than purchasing, storing and insuring bars or coins.

    2. iShares Gold Trust (ARCA:IAU)

    Total assets under management: US$64.22 billion
    Unit price: US$79.04

    Like the SPDR Gold Trust, the iShares Gold Trust ETF aims to track the spot price of gold bullion. Its expense ratio is 0.25 percent, and its holdings are allocated entirely to physical gold bullion. The aim is for the trust’s value to reflect the performance of the price of gold.

    The physical gold the trust holds is in vaults in locations including New York, US; Toronto, Canada; and London, UK. Investors can purchase and sell shares through a traditional brokerage account throughout the trading day.

    3. SPDR Gold MiniShares Trust (ARCA:GLDM)

    Total assets under management: US$23.33 billion
    Unit price: US$81.89

    The SPDR Gold MiniShares Trust offers investors one of the lowest available expense ratios for a US-listed ETF backed by physical gold at 0.1 percent. This ETF represents fractional, undivided beneficial ownership interests in the trust, which holds only physical gold bullion and, from time to time, cash.

    4. Abrdn Physical Gold Shares ETF (ARCA:SGOL)

    Total assets under management: US$6.95 billion
    Unit price: US$39.43

    The abrdn Physical Gold Shares ETF aims to have its shares reflect the performance of the gold bullion price, minus the trust’s operating expenses, by holding 100 percent physical gold bars. This gold ETF has an expense ratio of 0.17 percent.

    The gold backing the fund comes only in the form of London Good Delivery gold bullion bars refined on or after January 1, 2012, and held in secure vaults in London.

    5. iShares Gold Trust Micro (ARCA:IAUM)

    Total assets under management: US$5.52 billion
    Unit price: US$41.84

    The iShares Gold Trust Micro ETP is the lowest-cost physically backed gold ETP on the market with an expense ratio of just 0.09 percent. The fund is designed to provide exposure to the day-to-day movement of the price of gold bullion. The underlying gold bars are held in vaults.

    Top 5 gold mining ETFs

    These five gold stock ETFs are designed for investors looking to gain exposure to gold miners without the risk of holding individual gold stocks.

    1. VanEck Gold Miners ETF (ARCA:GDX)

    Total assets under management: US$23.89 billion
    Unit price: US$79.18

    The VanEck Gold Miners ETF provides investors with exposure to the largest global gold producers and royalty companies involved in the precious metals space and has an expense ratio of 0.51 percent. Nearly 90 percent of its holdings have market caps above US$5 billion.

    This ETF’s top holdings include Agnico Eagle Mines (TSX:AEM,NYSE:AEM) with a weight of 7.9 percent, Newmont (NYSE:NEM,ASX:NEM) with 7.15 percent and AngloGold Ashanti (NYSE:AU,JSE:ANG) with 5.71 percent.

    Holdings are rebalanced quarterly with qualified companies having a market cap greater than US$150 million, US$1 million in average daily trading volume and a minimum of 250,000 shares traded per month.

    2. VanEck Junior Gold Miners ETF (ARCA:GDXJ)

    Total assets under management: US$8.66 billion
    Unit price: US$101.24

    Similar to the GDX above, the VanEck Junior Gold Miners ETF provides investors with exposure to gold equities; however, it has a stronger focus on smaller gold mining companies and junior stocks, which carry higher risk, but also offer greater potential returns.

    Its top holdings include Pan American Silver (TSX:PAAS) with a weight of 6.45 percent, Equinox Gold (TSX:EQX,NYSEAMERICAN:EQX) with 6.39 percent and Alamos Gold (TSX:AGI,NYSE:AGI) with 5.75 percent.

    Holdings are reviewed in March and September, and rebalanced quarterly, with qualifications matching those for the VanEck Gold Miners ETF. Like the GDX, the GDXJ has an expense ratio of 0.51 percent.

    3. iShares MSCI Global Gold Miners ETF (Nasdaq:RING)

    Total assets under management: US$2.63 billion
    Unit price: US$67.87

    BlackRock’s (NYSE:BLK) iShares MSCI Global Gold Miners ETF provides investors with exposure to a diverse portfolio of global gold mining companies within the Morgan Stanley Capital International (MSCI) index and charges an expense ratio of 0.39 percent.

    Top holdings in the fund include Newmont with a weight of 15.85 percent, Agnico Eagle with 13.33 percent and Barrick Mining (TSX:ABX,NYSE:B) with 8.92 percent.

    4. Sprott Gold Miners ETF (ARCA:SGDM)

    Total assets under management: US$611.45 million
    Unit price: US$64.64

    The Sprott (TSX:SII,NYSE:SII) Gold Miners ETF is an investment product designed to deliver returns that track the Solactive Gold Miners Custom Factors Index, which follows major gold equities listed on Canadian and US exchanges. The ETF is rebalanced quarterly and has a total operating expense of 0.5 percent.

    Top holdings in the fund include Agnico Eagle with a weight of 12.41 percent, Newmont with 8.92 percent and Wheaton Precious Metals (TSX:WPM,NYSE:WPM) with 7.83 percent.

    5. Sprott Junior Gold Miners ETF (ARCA:SDGJ)

    Total assets under management: US$280.97 million
    Unit price: US$76.56

    The Sprott Junior Gold Miners ETF has also been designed to provide results tied to its underlying index, in this case, the Solactive Junior Gold Miners Custom Factors Index, which tracks companies with a market capitalization between US$200 million and US$3 billion.

    The ETF is rebalanced semi-annually in March and September and carries a total management fee of 0.5 percent.

    Top holdings in the fund include Bellevue Gold (ASX:BGL,OTC Pink:BELGF) with a weight of 5.04 percent, Novagold Resources (NYSE:NG) with 5.03 percent and Turk Altin Isletmeleri with 4.94 percent.

    Securities Disclosure: I, Dean Belder, currently hold a direct investment in Equinox Gold.

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    Red Mountain Mining Successfully Lists on the US Stock Market with a Strong Trading Debut Up 36%

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    Red Mountain Mining Limited (ASX: RMX, US CODE: RMXFF, or “Company”), a Critical Minerals exploration and development company with a growing portfolio in Tier-1 Mining Districts in the United States and Australia, is pleased to announce that RMXFF successfully commenced trading on the OTCQB this week. The price reached a high of A$0.054 (US$0.035) on the first day of activity.

    HIGHLIGHTS

    • RMXFF successfully listed on the US Market (OTCQB) with Red Mountain trading as high as A$0.054 (US$0.035) on the first day, up 36%
    • RMXFF experienced a strong debut, with robust market activity & trading volumes and high levels of US-based investor engagement
    • RMXFF is set to present at the Australian Rare Earths & Critical Minerals Investor Conference on 19 November 2025, to be distributed across the broader US capital markets network
    • Red Mountain is continuing to be actively engaged in discussions with experienced strategic partners to fast-track its US and Australian Critical Minerals Portfolio
    • These discussions are focused on accelerating project development and leveraging partner expertise in navigating US Government funding programs and Critical Minerals project development and support
    • Red Mountain’s United States Critical Minerals Portfolio uniquely includes highly prospective and advantageously located Antimony Projects in both Idaho and Utah – adjacent to projects with significant known Antimony mineralisation
    • In Australia, Red Mountain’s highly prospective Armidale Antimony-Gold Project comprises a large, strategic tenure covering nearly 400km2 of highly prospective ground, located west of Larvotto Resources’ (ASX: LRV $580m market cap) Hillgrove Project, which is Australia’s largest and the world’s eighth largest Antimony deposit – also subject to the recent takeover attempt from United States Antimony Corp (NYSE: UAMY A$1.5b market cap)
    • Since the acquisition of Hillgrove in December 2023, LRV’s market cap has surged from less than $6 million to a high of over $700 million
    • Red Mountain expects to receive and announce the further results from its Armidale Antimony-Gold Project by the end of NovemberRed Mountain also expects to make further updates to the market regarding its US based growth initiatives with the Bureau of Land and Management (BLM) offices returning to normal operational capacity, following the resolution of the US Government shutdown this month

    Red Mountain’s highly experienced US-based markets advisory team has successfully supported the RMXFF listing and the Company notes the strong initial US based investor interest and trading volumes, relative to its peers.

    Red Mountain’s specialised capital markets and investor engagement advisors, have deep networks within the US capital markets, and the Company is working closely with its advisors to further enhance and complement the benefits of the RMXFF listing.

    Red Mountain Mining set to continue aggressive growth strategy

    Red Mountain continues to seek further opportunities to expand its portfolio of high-quality Strategic Metals projects in Tier-1 US mining jurisdictions, with a goal of building a portfolio of assets to leverage what is an unprecedented critical shortage of Western supply of Strategic and Critical Metals.

    The resolution of the US federal government shutdown on 12 November 2025, allows for Red Mountain to continue its aggressive US growth and expansion strategy. Subject to the satisfactory completion of due diligence, the Company expects to announce further growth initiatives this month.

    Click here for the full ASX Release

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