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President Donald Trump pushed back on suggestions from Ukrainian President Volodymyr Zelenskyy that the United States could capture Russian President Vladimir Putin after Zelensky pointed to Washington’s recent action against Venezuelan dictator Nicolás Maduro.

Trump waved off the idea of such an operation, while venting frustration over the grinding war and his failure so far to bring it to an end. Trump repeatedly said on the campaign trail that he could end the war on his first day back in office. Despite meetings with both Zelenskyy and Putin, a resolution remains elusive.

‘Well, I don’t think it’s going to be necessary,’ Trump said in response to a question from Fox News’ Peter Doocy during a meeting with U.S. oil companies executives at the White House Friday.

‘I’ve always had a great relationship with him. I’m very disappointed,’ Trump said of Putin. ‘I settled eight wars. I thought this would be in the middle of the pack or maybe one of the easier ones.’

Trump said the conflict continues to take a heavy toll, particularly on Russian forces, and claimed Moscow’s economy is suffering.

‘And in the last month, they lost 31,000 people, many of them Russian soldiers,’ Trump said, adding that the Russian economy is ‘doing poorly.’

‘I think we’re going to end up getting it settled,’ Trump said. ‘I wish we could have done it quicker because a lot of people are dying.

‘But largely it’s the soldier population,’ he continued. ‘When you have 30,000, 31,000 soldiers dying in a period of a month, 27,000 the month before, 26,000 the month before that. That’s bad stuff.’

Trump also criticized the Biden administration for sending what he said was $350 billion to Ukraine, arguing the U.S. should be able to recoup costs through a rare earth minerals agreement tied to continued support. He also claimed the U.S. is not losing money in the conflict, saying Washington is benefiting through arms sales to NATO allies, pointing to NATO’s pledge to raise defense and security spending toward 5% of GDP by 2035, up from the longstanding 2% benchmark.

‘We’re not losing any money. We’re making a lot of money,’ Trump said. 

Zelenskyy made his comments after Russia said it fired its new nuclear-capable Oreshnik hypersonic missile as part of a massive overnight attack on Ukraine, a claim Kyiv disputed. Ukrainian officials said the barrage involved hundreds of drones and multiple missiles and struck energy facilities and civilian infrastructure, killing at least four people. 

Zelenskyy called on the United States and the international community to respond, saying Russia must face consequences for attacks targeting ordinary civilians.

Fox News’ Rachel Wolf contributed to this report.


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An anti-regime protester scaled the balcony of Iran’s Embassy in London on Friday and tore down the Islamic Republic’s flag, replacing it with Iran’s pre-1979 ‘Lion and Sun’ emblem, video shows.

The demonstrator climbed the front of the embassy building in Kensington before ripping down the regime’s flag and hoisting the historic symbol associated with Iran’s monarchy prior to the 1979 Islamic Revolution as a large crowd of anti-regime protesters cheered on.

The Metropolitan Police said officers responded to the scene and made two arrests — one for aggravated trespass and assault on an emergency worker, and another for aggravated trespass. Police said they are also seeking another individual for trespass. It was not immediately clear whether the protester who tore down the flag was among those arrested.

Fox News Digital reached out to Iran’s Embassy in London for comment but did not receive a response by the time of publication.

The embassy protest comes as Iran faces its most significant wave of unrest in years. President Trump has warned the regime that the U.S. will protect protesters if necessary.

Potkin Azarmehr, a British-Iranian journalist, said the current unrest stands in sharp contrast to Iran’s 2009 Green Movement, when protesters openly questioned whether the Obama administration supported them.

‘What a contrast to Obama’s time, when protesters in Iran were chanting, ‘Obama, are you with us or with them?’’ Azarmehr told Fox News Digital.

‘Any international support, whether at the grassroots or government level, is encouraging,’ he said.

He said global attention matters to protesters on the ground, but questioned the lack of visible demonstrations by Western activist groups.

‘The question is where are the Western activist elite protesters? Why are they not protesting? Are they on the side of the ayatollahs? An archaic religious apartheid?’

Demonstrations that began on Dec. 28 over economic grievances have since spread nationwide, evolving into a direct challenge to Iran’s clerical leadership. Solidarity protests with Iranian demonstrators have also emerged in other major European cities, including Paris and Berlin. A protest also took place outside the White House in Washington, D.C.

As of Saturday, at least 72 people have been killed and more than 2,300 detained in Iran-based protests, according to the U.S.-based Human Rights Activists News Agency.

Some protests have included chants supporting Iran’s former monarch, Shah Mohammad Reza Pahlavi, who died in 1980. His son, Reza Pahlavi, has publicly called for continued demonstrations. The Iranian regime has also cut nationwide internet access.

At a press conference in Washington, D.C., on Friday, Trump said Iran was facing mounting pressure.

‘Iran’s in big trouble,’ Trump said. ‘It looks to me that the people are taking over certain cities that nobody thought were really possible just a few weeks ago. We’re watching the situation very carefully.’

Trump warned the United States would respond forcefully if the regime resorts to mass violence.

‘We’ll be hitting them very hard where it hurts,’ Trump said. ‘And that doesn’t mean boots on the ground, but it means hitting them very, very hard where it hurts.’

Supreme Leader Ayatollah Ali Khamenei has signaled a coming clampdown despite U.S. warnings, according to The Associated Press.

Tehran escalated its threats Saturday, with Iran’s attorney general, Mohammad Movahedi Azad, warning that anyone taking part in protests would be considered an ‘enemy of God,’ a charge that carries the death penalty. The statement, carried by Iranian state television, said even those who ‘helped rioters’ would face the charge.

‘Prosecutors must carefully and without delay, by issuing indictments, prepare the grounds for the trial and decisive confrontation with those who, by betraying the nation and creating insecurity, seek foreign domination over the country,’ the statement read.

‘Proceedings must be conducted without leniency, compassion or indulgence.’

Fox News’ Efrat Lachter, Greg Norman and The Associated Press contributed to this report.


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Four tankers that left Venezuela in early January with their transponders off, also known as ‘dark mode,’ have reportedly returned to the country’s waters. The news comes after several U.S. tanker seizures and amid the Trump administration’s push to acquire Venezuelan oil following the arrest of dictator Nicolás Maduro.

Most of the four tankers were loaded, according to Reuters, which noted that Petróleos de Venezuela (PDVSA), a state-owned company, and monitoring service TankerTrackers.com had reported the vessels’ return.

A flotilla of approximately one dozen loaded vessels as well as at least three empty ships left Venezuelan waters last month, despite a U.S. blockade that has been imposed since mid-December, according to Reuters.

One of the vessels, the supertanker M Sophia, which had the Panamanian flag, was intercepted by the U.S. earlier this week, as was the Olina, which had the flag of Sao Tome And Principe, according to Reuters. The outlet reported, citing PDVSA, that the Olina was released to Venezuela on Friday.

The Olina had been seized by U.S. forces in a pre-dawn mission on Friday. The U.S. Southern Command said that Marines and sailors from Joint Task Force Southern Spear worked on the mission in coordination with the Department of Homeland Security.

‘Apprehensions like this are backed by the full power of the U.S. Navy’s Amphibious Ready Group, including the ready and lethal platforms of the USS Iwo Jima, USS San Antonio, and USS Fort Lauderdale,’ the U.S. Southern Command wrote in a post on X. ‘The Department of War’s Operation Southern Spear is unwavering in its mission to defend our homeland by ending illicit activity and restoring security in the Western Hemisphere.’

The Olina, previously named the Minerva M, was sanctioned by the United States for its role in transporting Russian oil, according to The Wall Street Journal.

Three other vessels that departed Venzuela in the flotilla, Panama-flagged Merope, Cook Islands-flagged Min Hang and Panama-flagged Thalia III, were spotted late Friday in Venezuelan waters by TankerTrackers.com, Reuters reported.

On Friday, Trump hosted nearly two dozen oil executives at the White House to discuss investment in Venezuela after the U.S. military’s successful capture of Maduro. The executives represented several major companies, including Chevron, Exxon, ConocoPhillips, Continental, Halliburton, HKN, Valero, Marathon, Shell, Trafigura, Vitol Americas, Repsol, Eni, Aspect Holdings, Tallgrass, Raisa Energy and Hilcorp.

‘You have total safety, total security. One of the reasons you couldn’t go in is you had no guarantees, you had no security, but now you have total security,’ Trump said during the meeting. 

‘It’s a whole different Venezuela and Venezuela is going to be very successful, and the people of the United States are going to be big beneficiaries because we’re going to be extracting, you know, numbers of in terms of oil, like, you know, few people have ever seen actually. So, you’re dealing with us directly. You’re not dealing with Venezuela at all. We don’t want you to deal with Venezuela,’ the president added.

The president also predicted that the acquisition of Venezuelan oil would lead to massive wealth, lower taxes and ‘lots of jobs for Americans and for Venezuelans.’

Days before the meeting with oil executives, Trump said that Venezuela would be turning over between 30 million and 50 million barrels of ‘high-quality,’ sanctioned oil to the U.S. He made the announcement on Truth Social and said that the oil would be sold at market price and that he would ‘control the proceeds to ensure it is ‘used to benefit the people of Venezuela and the United States!’

Fox News Digital’s Emma Colton and Sophia Compton contributed to this report.


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President Donald Trump pushed back on suggestions from Ukrainian President Volodymyr Zelenskyy that the United States could capture Russian President Vladimir Putin after Zelensky pointed to Washington’s recent action against Venezuelan dictator Nicolás Maduro.

Trump waved off the idea of such an operation, while venting frustration over the grinding war and his failure so far to bring it to an end. Trump has repeatedly said on the campaign trail that he could end the war on his first day back in office, but despite meetings with both Zelenskyy and Putin, a resolution remains elusive.

‘Well, I don’t think it’s going to be necessary,’ Trump said in response to a question from Fox News’ Peter Doocy during a meeting with US oil companies executives at the White House Friday.

‘I’ve always had a great relationship with him. I’m very disappointed,’ Trump said of Putin. ‘I settled eight wars. I thought this would be in the middle of the pack, or maybe one of the easier ones.’

Trump said the conflict continues to take a heavy toll, particularly on Russian forces, and claimed Moscow’s economy is suffering as well.

‘And in the last month they lost 31,000 people, many of them Russian soldiers,’ Trump said, adding that the Russian economy is ‘doing poorly.’

‘I think we’re going to end up getting it settled,’ Trump said. ‘I wish we could have done it quicker because a lot of people are dying.’

‘But largely it’s the soldier population,’ he continued. ‘When you have 30,000, 31,000 soldiers dying in a period of a month, 27,000 the month before, 26,000 the month before that. That’s bad stuff.’

Trump also criticized the Biden administration for sending what he said was $350 billion to Ukraine, arguing the U.S. should be able to recoup costs through a rare earth minerals agreement tied to continued support. He also claimed the U.S. is not losing money in the conflict, saying Washington is benefiting through arms sales to NATO allies, and pointed to NATO’s pledge to raise defense and security spending toward 5% of GDP by 2035, up from the longstanding 2% benchmark.

‘We’re not losing any money. We’re making a lot of money.’

Zelenskyy’s comments came after Russia said it fired its new nuclear-capable Oreshnik hypersonic missile as part of a massive overnight attack on Ukraine, a claim Kyiv disputed. Ukrainian officials said the barrage involved hundreds of drones and multiple missiles and struck energy facilities and civilian infrastructure, killing at least four people. 

Zelenskyy called on the United States and the international community to respond, saying Russia must face consequences for attacks targeting ordinary civilians.

Fox News’ Rachel Wolf contributed to this report.


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Greenland’s leadership is pushing back on President Donald Trump as he and his administration call for the U.S. to take control of the island. Several Trump administration officials have backed the president’s calls for a takeover of Greenland, with many citing national security reasons.

‘We don’t want to be Americans, we don’t want to be Danes, we want to be Greenlanders,’ Greenland Prime Minister Jens-Frederik Nielsen and four party leaders said in a statement Friday night, according to The Associated Press. Greenland, a self-governing Danish territory and a longtime U.S. ally, has repeatedly rejected Trump’s statements about U.S. acquiring the island.

Greenland’s party leaders reiterated that the island’s ‘future must be decided by the Greenlandic people.’

‘As Greenlandic party leaders, we would like to emphasize once again our wish that the United States’ contempt for our country ends,’ the statement said.

Trump was asked about the push to acquire Greenland on Friday during a roundtable with oil executives. The president, who has maintained that Greenland is vital to U.S. security, said it was important for the country to make the move so it could beat its adversaries to the punch.

‘We are going to do something on Greenland, whether they like it or not,’ Trump said Friday. ‘Because if we don’t do it, Russia or China will take over Greenland, and we’re not going to have Russia or China as a neighbor.’

Trump hosted nearly two dozen oil executives at the White House on Friday to discuss investments in Venezuela after the historic capture of President Nicolás Maduro on Jan. 3.

‘We don’t want to have Russia there,’ Trump said of Venezuela on Friday when asked if the nation appears to be an ally to the U.S. ‘We don’t want to have China there. And, by the way, we don’t want Russia or China going to Greenland, which, if we don’t take Greenland, you can have Russia or China as your next-door neighbor. That’s not going to happen.’ 

Trump said the U.S. is in control of Venezuela after the capture and extradition of Maduro. 

Nielsen has previously rejected comparisons between Greenland and Venezuela, saying that his island was looking to improve its relations with the U.S., according to Reuters.

Danish Prime Minister Mette Frederiksen said on Monday that Trump’s threats to annex Greenland could mean the end of the North Atlantic Treaty Organization (NATO).

‘I also want to make it clear that if the U.S. chooses to attack another NATO country militarily, then everything stops. Including our NATO and thus the security that has been provided since the end of the Second World War,’ Frederiksen told Danish broadcaster TV2.

That same day, Nielsen said in a statement posted on Facebook that Greenland was ‘not an object of superpower rhetoric.’

White House deputy chief of staff for policy Stephen Miller doubled down on Trump’s remarks, telling CNN in an interview on Monday that Greenland ‘should be part of the United States.’

CNN anchor Jake Tapper pressed Miller about whether the Trump administration could rule out military action against the Arctic island.

‘The United States is the power of NATO. For the United States to secure the Arctic region, to protect and defend NATO and NATO interests, obviously Greenland should be part of the United States,’ he said.

The Associated Press contributed to this report.


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President Donald Trump has signed an executive order blocking U.S. courts from seizing Venezuelan oil revenues held in American Treasury accounts.

The order, titled ‘Safeguarding Venezuelan Oil Revenue for the Good of the American and Venezuelan People,’ states that any court attempt to seize the funds would pose an ‘unusual and extraordinary threat’ to U.S. national security and foreign policy.

It also states that the funds remain the sovereign property of Venezuela and are not assets available to private creditors or judgment holders.

The order says the United States will hold the funds ‘solely in a custodial and governmental capacity,’ not as a commercial participant.

It was issued to prevent private creditors from using U.S. courts to seize the funds before the administration determines how they will be used.

The funds are held in U.S. Treasury accounts on behalf of Venezuela’s government and its state-run oil company, Petroleos de Venezuela, S.A., and are derived from oil sales and related transactions.

Trump signed the order on Friday, the same day that he met with nearly two dozen top oil and gas executives at the White House. 

The president said American energy companies will invest $100 billion to rebuild Venezuela’s ‘rotting’ oil infrastructure and push production to record levels following the capture of Venezuelan dictator Nicolás Maduro.

The U.S. has moved aggressively to take control of Venezuela’s oil future following the collapse of the Maduro regime.

Trump has framed the effort as part of a broader push to reshape Venezuela’s oil industry following the collapse of the Maduro regime, with U.S. companies expected to play a central role.


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‘I hereby plead incompetence and stupidity.’

That’s probably the best defense that Minnesota Gov. Tim Walz can offer if he is criminally charged in the shocking multi-billion-dollar taxpayer ripoffs that grow larger by the day.

Given his earned reputation, his excuse of incompetence would be credible.

Nearly every social service program receiving federal dollars was fleeced by fraudsters right under Walz’s nose, including child nutrition, daycare, healthcare, housing, and autism aid. Most of the perpetrators were Somalians who comprise a powerful voting block that the governor treasures like gold.

Walz was repeatedly warned of the swindles as far back as 2019 when he first took office. Instead of stopping the scams and prosecuting the grifters, he indulged them by establishing a culture of permissible fraud.

The scandal has already claimed Walz’s political career, forcing him to abandon his bid for re-election. But if he reckoned that quitting would somehow shield him from legal culpability, he is mistaken. There is mounting evidence that Walz was willfully complicit, deliberately refusing to expose or pursue the monumental thefts and, instead, launching aggressive measures to scuttle any legal scrutiny and criminal consequence.  

The governor’s own state workers at the Department of Human Services issued a blistering statement blaming him as 100% responsible. Witnesses say he retaliated against whistleblowers and schemed to discredit the well-documented fraud reports.

If true, Walz’s aberrant actions run dangerously close to criminal behavior involving cover-ups and obstruction.  

Nine federal agencies, including the FBI, are now working to unravel the full breadth and depth of the colossal cons.  The Department of Justice (DOJ) has sent scores of investigators and lawyers to Minnesota to prosecute the web of fraud and deceit.

They will inevitably weigh whether Walz should face criminal charges himself.

Possible Federal Charges

There are several federal statutes to consider. 18 USC 371 makes it a crime to conspire with others to defraud the government. At present, there is no known evidence that Walz directly participated in the scams themselves or accepted money.

However, if he plotted to cover up the fraud by impairing, obstructing or defeating efforts to bring the fraudsters to justice, the conspiracy statute is applicable. So, too, are the various obstruction of justice laws.

There is also 18 USC 2, the aiding and abetting statute where accomplices are treated the same as the main perpetrators. That law gave rise to the ‘willful blindness doctrine’ recognized by our courts.

An example is a businessman who intentionally ignores or turns a blind eye to his partner’s money laundering, resulting in charges against both. Similarly, a public official such as Walz can be indicted for deliberate inaction where he has a clear duty to act.

Finally, 18 USC 3 is relevant whenever concealment occurs. Whoever knows that a crime has been committed but ‘hinders apprehension, trial or punishment,’ is guilty of accessory after the fact. That bears a striking resemblance to what Walz is accused of doing.

All of this invites the question of the governor’s motive. If not money, how did he stand to benefit by suppressing the avalanche of fraud? That’s the easy part. Votes.

Walz, together with liberal elites and their media handmaidens, have long dismissed the rumors and reports of Somali-engineered fraud as ‘racist.’ Apparently, in Minnesota it is politically incorrect to enforce the law against immigrants from that particular East African country. It’s just not fashionable.

White House creates new assistant AG role to probe fraud

God forbid that putting criminals behind bars might lose electoral support. It’s chic to turn the other cheek.

So, the Somalian fraudsters were gifted a ‘get-out-of-jail’ free card, courtesy of the governor and his cronies. Walz, in turn, secured their votes. It was a nifty quid pro quo, but with an alternate currency —votes. As protection rackets go, it was slick.   

That cozy arrangement is manifested in a recently uncovered audio recording of a 2021 conversation between Walz’s Attorney General Keith Ellison and Somali hustlers who were soon after convicted of scamming millions of dollars. They were heard leaning hard on the AG to ‘protect’ them in exchange for support and campaign donations.  

Ellison eagerly capitulated but now denies any wrongdoing. He returned the cash.           

Walz’s Incompetence Defense

It is too early to know whether a criminal case will be filed against Minnesota’s beleaguered governor. The U.S. Attorney and DOJ lawyers are still digging through the mountains of evidence.

However, as noted above, the only tenable defense Walz may be able to conjure up is incompetence and stupidity. It is something that jurors might readily accept.

After all, ineptitude became the governor’s calling card. He infamously conceded his own buffoonery in the 2024 Vice Presidential debate when he called himself a ‘knucklehead.’ He was such a gaffe factory that the Kamala Harris campaign squirreled him away from the media.     

Walz achieved the impossible. He made his running mate look like a genius. His bizarre on-stage antics were constant fodder for mockery. Baffling verbal goofs, such as boasting that he had ‘become friends with school shooters,’ left voters scratching their heads or snickering.  

A series of demonstrable lies about his military service and his peculiar treks to China only compounded the impression of a man who is either a serial fabricator or not right in the head. Maybe both are true.  

And who can forget his epic bungling of the George Floyd riots in 2020. He radicalized the tragic death, thereby ginning up the ensuing violence. As Minneapolis burned, Walz dithered. Afterwards, he blamed the looting and torched buildings on systemic racism.

So, it’s not a stretch to imagine that an indictment alleging Walz was wittingly complicit in his state’s massive welfare fraud scandal might be met with a defense of ‘misfeasance’ (careless or incompetent execution of a lawful duty) to combat the incriminating evidence of ‘malfeasance’ (a deliberate, unlawful act).   

It’s a distinction that can mean the difference between conviction and acquittal.

Should Walz find himself in the dock sometime soon… don’t be surprised if he portrays himself as a blockhead who was intellectually incapable of grasping the obvious.

Minnesota jurors who know the governor would understand completely.


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A federal judge Friday temporarily blocked the Trump administration from stopping subsidies on childcare programs in five states, including Minnesota, amid allegations of fraud.

U.S. District Judge Arun Subramanian, a Biden appointee, didn’t rule on the legality of the funding freeze, but said the states had met the legal threshold to maintain the ‘status quo’ on funding for at least two weeks while arguments continue.

On Tuesday, the U.S. Department of Health and Human Services (HHS) said it would withhold funds for programs in five Democratic states over fraud concerns.

The programs include the Child Care and Development Fund, the Temporary Assistance for Needy Families program, and the Social Services Block Grant, all of which help needy families.

‘Families who rely on childcare and family assistance programs deserve confidence that these resources are used lawfully and for their intended purpose,’ HHS Deputy Secretary Jim O’Neill said in a statement on Tuesday.

The states, which include California, Colorado, Illinois, Minnesota and New York, argued in court filings that the federal government didn’t have the legal right to end the funds and that the new policy is creating ‘operational chaos’ in the states.

In total, the states said they receive more than $10 billion in federal funding for the programs. 

HHS said it had ‘reason to believe’ that the programs were offering funds to people in the country illegally.

New York Attorney General Letitia James, who is leading the lawsuit, called the ruling a ‘critical victory for families whose lives have been upended by this administration’s cruelty.’

Fox News Digital has reached out to HHS for comment.


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The gold price started off the new year on a strong note, approaching the US$4,500 per ounce level midway through the week and breaking through it on Friday (January 9).

As is often the case, silver put on a bumpier performance, trading within about a US$10 range. It recorded lows under US$73 per ounce and highs above US$82.

Beyond day-to-day price moves, there’s a lot of focus right now on how gold and silver will perform in 2026, and I want to spend some time looking at what experts see coming.

When it comes to gold I’m now seeing US$5,000 mentioned frequently, with multiple market watchers calling for it to reach that level as soon as the first quarter.

The consensus is that all of gold’s drivers either remain in place or are intensifying, including strong central bank buying, geopolitical tensions and easy money policies.

Here’s Alain Corbani of Montbleu Finance explaining why US$5,000 gold makes sense:

‘Between the end of the quantitative tightening and the end of the quantitative easing, usually gold doubles or triples, which means that in a perfect world, gold could go … from US$4,000 to US$6,000 — this is basically the bull figure. So that’s why, when we say US$5,000, that’s only 10 percent more than what we are trading at today.’

Silver is trickier to predict. The white metal is known for being volatile, and its strong end-of-2025 performance means that some experts’ 2026 price calls were reached before last year even ended.

So where does silver stand as the year begins?

I heard this week from David Morgan of the Morgan Report, who didn’t give a specific forecast, but said he believes silver is currently in ‘price discovery’ mode:

‘I’ve stated that we’re still in the price discovery mode — I truly believe that. What the true price of silver is in US dollars, Canadian dollars, I do not know. I think it’s north of $100 in US dollar terms, but it could be much higher than that.

I also spoke about silver with Doug Casey of InternationalMan.com. He said US$100 or even US$200 silver is possible, but for him the metal itself isn’t a speculative tool:

‘Is silver at a new high where it’s going to stay there? Yeah, very possibly — not a prediction. But I’m not selling my silver. I mean, why should I sell it? I’m holding it as an asset, not as a speculative device. So is it going to US$100 or US$200? It’s possible. I don’t really care, because … I don’t use either my silver or my gold as speculative vehicles. That’s not what they’re about to me.’

Andy Schectman of Miles Franklin made a similar statement, saying that while he’s certainly bullish on silver, 2025 showed how unpredictable it can be:

‘Rather than pick a price, I say we live in a world of probabilities. The probability that we see silver well north of US$100 to me is rather strong. Could it be as high as US$200 or higher? Sure. But to say that would be a guess, and an optimistic guess.

‘But look, if I would have told you last year that we would see silver at US$80, you’d say, ‘You know, well, that’s a pretty big statement, Andy.’ Yeah, sure it is. A 150 percent gain in a year is pretty big. So rather than continue with that, I would just simply say: higher than most people would actually probably think possible.’

Bullet briefing — Rio Tinto, Glencore reopen M&A talks

Commodities giants Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Glencore (LSE:GLEN,OTCPL:GLCNF) say they have restarted talks about potentially combining forces.

The two major miners spoke previously back in 2024, but failed to reach an agreement. This time around, they say their preliminary discussions are centered on merging some or all of their businesses, and could include the acquisition of Glencore by Rio Tinto.

The news was first reported by the Financial Times, with both companies confirming the story in press releases shortly thereafter. According to the news outlet, the combination would create a massive mining company with an enterprise value of over US$260 billion.

Both companies have said there’s no guarantee that any transaction will go through. However, it’s worth noting that Rio Tinto has changed leadership since the 2024 talks ended, with Simon Trott now at the helm. For its part, Glencore has reorganized its coal assets.

The Thursday (January 8) Financial Times piece also notes that Gary Nagle, chief executive at Glencore, spoke last month about the importance of size in the mining industry, saying that bigger companies are better able to create synergies, as well as attract talent and capital.

Regulations require Rio Tinto to announce its intentions either way by February 5 of this year.

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

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Statistics Canada released December jobs figures on Friday (January 9). The data shows that 8,200 new jobs were added during the month, while the unemployment rate rose to 6.8 percent, up 0.3 percentage points from November.

The agency attributes the gain to more Canadians actively seeking work. Analysts had expected a decrease of 5,000 jobs and a smaller increase in the unemployment rate to 6.6 percent.

Among the highlights of the report was an improvement in the type of labor, as part-time jobs fell by 42,000, while full-time jobs rose by 50,000. The gains bring the total number of jobs added to the Canadian economy since September to 181,000, ending the year with strong momentum after little growth earlier in 2025.

The US Bureau of Labor Statistics also released jobs data, indicating that the US economy added 50,000 jobs in December, with an unemployment rate of 4.4 percent, down 0.1 percentage points from November.

Excluding 2020 at the start of the COVID-19 pandemic, the 584,000 jobs added in 2025 mark the worst performance for the US jobs market since 2009 at the height of the global financial crisis.

On Wednesday (January 7), US President Donald Trump announced on Truth Social that Venezuela would be turning over up to 50 million barrels of oil to the US, worth approximately US$2.8 billion, and it would be sold at market price.

Trump wrote that he will control the money made from the sales “to ensure it is used to benefit the people of Venezuela and the United States.” The announcement comes days after US forces executed an operation to capture Venezuelan President Nicolas Maduro and return him to the US to stand trial for drug trafficking and weapons charges.

Trump also stated that the US will be overseeing the governance of the South American nation, while eyeing a return for US oil companies, giving the US control of one of the world’s largest oil reserves indefinitely.

The actions brought widespread criticism from US allies and foes alike, as the US violated international and domestic laws by working outside traditional mechanisms to carry out the operation, which included bombing strikes on strategic military targets in the country. Due in part to concerns of competition from rising Venezuelan oil production, some Canadian oil stocks fell by as much as 7 percent on Monday (January 5).

In mining news, Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Glencore (LSE:GLEN,OTCPL:GLCNF) restarted merger discussions this week. The companies previously discussed creating a combined entity in 2024, but talks stalled.

For more on what’s moving markets this week, check out our top market news round-up.

Markets and commodities react

Canadian equity markets were on the rise this week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) gained 2.51 percent over the week and set a new record to close Friday at 32,612.93; the S&P/TSX Venture Composite Index (INDEXTSI:JX) fared a little better, rising 4.91 percent to 1,052.18. The CSE Composite Index (CSE:CSECOMP) also gained ground, rising 5.17 percent to close at 182.45.

The gold price was trading near all-time highs this week following the US incursion into Venezuela. It gained 4.36 percent on the week to reach US$4,506.84 per ounce by Friday at 4:00 p.m. EST. The silver price did even better, trading near an all time high at US$82.54 per ounce on Tuesday (January 6). Although the price pulled back on Wednesday and Thursday (January 8), it rebounded on Friday to end the week up 10.17 percent at US$79.75.

In base metals, the Comex copper price climbed to its own record high, reaching US$6.12 per pound on Monday, before pulling back to end the week down 0.67 percent at US$5.91.

The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) rose 2.06 percent to end Friday at 559.83.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stocks data for this article was retrieved at 4:00 p.m. EST on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Gold Reserve (TSXV:GRZ)

Weekly gain: 131.78 percent
Market cap: C$662.66 million
Share price: C$5.47

Gold Reserve is an exploration company that holds a minority share in the Siembra Minera gold and copper project in Venezuela. It is currently in a dispute with the Venezuelan government, which holds a majority stake in the project, claiming that it has deprived Gold Reserve of its rights to the multi-billion dollar mining project.

In 2014, the government was ordered to pay over US$700 million to Gold Reserve, but, in a show of good faith, the company agreed to enter into settlement negotiations, ultimately agreeing in 2016 to pay the arbitration award in installments. However, according to Gold Reserve, the government failed to make payments and, by 2021, had shifted to sabotaging negotiations, entering into new deals over the property with rivals, and imprisoning the company’s chief legal and commercial representative. The company states the imprisonment intimidated potential court representatives for the company, and the Supreme Court of Venezuela dismissed Gold Reserve’s appeal for “lack of representation.”

More recently, Gold Reserve has pursued legal action in Delaware regarding the forced sale of assets owned by Venezuela’s state-owned oil producer, PDVSA, and CITGO. In its most recent update on the Delaware case Friday, Gold Reserve said that it filed its opening appeal brief with the US Court of Appeals for the Third Circuit in connection with the proposed sale of the oil companies’ assets. Although Gold Reserve was the highest bidder, the District Court approved the sale to Elliott Investment Management and affiliate Amber Energy. Gold Reserve asserts that the order approving the sale violated Delaware requirements that attached shares be sold to the highest bidder.

The company believes there are enough concerns to vacate the sale order. It also added that it is reviewing security plans and taking proactive steps to support an eventual safe return to its operations in Venezuela.

Shares surged this week following the capture of Venezuela’s Maduro by US forces on January 3.

2. Peloton Minerals (CSE:PMC)

Weekly gain: 92.86 percent
Market cap: C$42.06 million
Share price: C$0.27

Peleton Minerals is an exploration company focused on its flagship North Elko lithium project in Nevada, US.

The property consists of 442 mineral claims covering 37 square kilometers, west of a major discovery made by Surge Battery Metals (TSXV:NILI,OTCQX:NILIF) in 2023. In 2024 and 2025, Peloton carried out several exploration programs at the site, including airborne hyperspectral imaging, a soil geochemistry survey and geological mapping.

In November 2025, the company commenced a maiden drill program at the site, saying it planned to target lithium-bearing claystone layers with potential for other critical minerals.

The program consisted of four holes, each drilled to a depth of approximately 500 feet. Peloton announced on December 10 that the program was complete and confirmed near-surface clay layers. The company had submitted samples for multi-element analysis, with results not expected until the end of January 2026.

Shares in the company gained this week, but it has not released news since December 31, when it reported the closing of the third and final tranche of its non-brokered private placement. The three fundraising rounds raised C$1.17 million in total and proceeds will fund lithium exploration in Northern Nevada and working capital.

3. Decade Resources (TSXV:DEC)

Weekly gain: 77.78 percent
Market cap: C$13.84 million
Share price: C$0.08

Decade Resources is focused on advancing a portfolio of properties in the Golden Triangle region of BC, Canada.

Among its interests is a 55 percent stake in the Del Norte property located near Stewart, BC. The company acquired its share in the property from Teuton Resources (TSXV:TUO,OTCQB:TEUTF) via a January 2020 option deal.

Since that time, the company has executed the required C$4 million in exploration expenditures at Del Norte, and is now looking toward earning an additional 20 percent stake by bringing the property to commercial production.

Drilling at the site in 2024 led to the discovery of a new zone with assays of 6.59 grams per metric ton (g/t) gold and 946 g/t silver over 1 meter, located below the Kosciuszko zone.

The most recent update came on Tuesday, when Decade provided an overview of the property and laid out its exploration plans for 2026. The work would focus on several areas, including one 800 meters southwest of the Eagle’s Nest zone where a historic float sample returned values of 4,232.2 g/t silver and 13.59 g/t gold in 1994. Targets also include the 2024 discovery, and along strike from the Kosciuszko and Eagle’s Nest zones.

4. SouthGobi Resources (TSX:SGQ)

Weekly gain: 68.89 percent
Market cap: C$99.39 million
Share price: C$0.38

SouthGobi is a coal mining company with assets located in Southern Mongolia near the border with China.

Its flagship operation is the Ovoot Tolgoi coal mine, which consists of the Sunrise and Sunset pits and has been producing since 2008. SouthGobi holds permits to mine until 2037. The company also owns two additional properties in the region. The Soumber deposit is located 20 kilometers east of the Ovoot Tolgoi mine, meaning that any potential mining of Soumber could share Ovoot Tolgoi’s infrastructure. Its last property is the Zag Suuj deposit, located 150 kilometers east of Ovoot Tolgoi and 80 kilometers from the Mongolia-China Border.

The company has not released any news this past week.

5. Regency Silver (TSXV:RSMX)

Weekly gain: 65.38 percent
Market cap: C$19.16 million
Share price: C$0.215

Regency Silver is an exploration company focused on its Dios Padre precious metals and copper property in Sonora, Mexico. The site comprises three concessions covering a total area of 728 hectares and was acquired through a 2017 earn-in agreement with Minera Pena Blanca. It hosts the historic Dios Padre silver mine.

A March 2023 technical report outlines an inferred resource of 1.38 million metric tons of ore containing 10.15 million ounces of silver with an average grade of 228 g/t, plus 14,294 ounces of gold with an average grade of 0.32 g/t.

The most recent update from the project came on Thursday, when Regency announced a 225 meter step-out extension from the previous drilling. The company said it encountered sulfide-specularite supported breccia across a broad, non-continuous interval of 240 meters. While it has not received analytical results, it compared the breccia to that found in multiple other holes at the site, including one in which a 35.8 meter intersection returned grades of 6.84 g/t gold, 0.88 percent copper and 21.82 g/t silver. The news coincides with near-record-high gold and silver prices.

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 mining companies are listed on the TSX and TSXV?

As of May 2025, there were 1,565 companies listed on the TSXV, 910 of which were mining companies. Comparatively, the TSX was home to 1,899 companies, with 181 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.

Top 5 Canadian Mining Stocks This Week: St. Augustine Rises 67 Percent on Private Placement

Colorful mineral rocks with "5 Top Canadian Mining Stocks This Week" text.Top 5 Canadian Mining Stocks This Week: St. Augustine Rises 67 Percent on Private Placement

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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