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Here’s a quick recap of the crypto landscape for Monday (November 24) as of 9:00 p.m. UTC.

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

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$89,102.53, up 1.9 percent in 24 hours.

Its price showed a short-term gain after last week’s rout, which saw over US$1.2 billion in spot Bitcoin exchange-traded fund (ETF) outflows, marking the third consecutive week with over US$1 billion in outflows, as per SoSoValue.

Bitcoin price performance, November 24, 2025.

Bitcoin price performance, November 24, 2025.

Chart via TradingView.

However, market sentiment remains cautious, with the Fear and Greed Index reading 12 at market close. Increased open interest and large short liquidations suggest potential volatility and possible rebound dynamics.

“In the short term, a rebound is highly likely, but if we fall again and lose the US$80,000 level, the probability of facing a much tougher period becomes significantly higher,” CryptoQuant said in a post on X.

Bitcoin’s relative strength index at 58.52 indicates a moderately bullish momentum, but is still comfortably below overbought territory. A -0.005 funding rate indicates traders are still somewhat bearish, but short liquidations may start to shift momentum upward. Economic data due later this week could uplift markets if it reinforces expectations of interest rate cuts. Market odds of an interest rate cut from the US Federal Rserve in December have risen recently, with many sources placing the probability around 70 to 79 percent.

Meanwhile, ETH (ETH) was US$2,973.36, up by 5.1 percent in 24 hours. Liquidations of US$39.75 million, predominantly in short positions, may have fueled upward price pressure through a short squeeze.

Open interest rose 3.07 percent to US$35.93 billion, suggesting increasing trader engagement and speculative activity in Ether derivatives. A funding rate of zero reflects a balance between bullish and bearish sentiment among traders at this moment.

Altcoin price update

  • XRP (XRP) was priced at US$2.26, up by 9.2 percent over 24 hours.
  • Solana (SOL) was trading at US$138.82, up by 4.7 percent over 24 hours.

Today’s crypto news to know

Cardano chain split, Etherscan API outage highlight DeFi risks

Recent events in the crypto ecosystem have underscored the vulnerabilities and institutional challenges facing DeFi investors. On Friday (November 21), Cardano experienced an accidental chain split triggered by a malformed transaction, temporarily dividing the blockchain into two competing chains.

The disruption exposed weaknesses in network resilience and stake pool operations, causing lost block rewards and transaction irregularities in DeFi protocols dependent on Cardano’s network stability.

Then, Etherscan unexpectedly cut off API access to roughly 10 percent of its blockchains and networks. This sudden outage occurred during the DevConnect conference, impairing developers’ ability to manage smart contracts effectively, further revealing how dependent DeFi investors are on the reliability of ancillary infrastructure.

These events came amid growing tensions involving JPMorgan Chase (NYSE:JPM).

The banking giant has drawn ire from the crypto community for reportedly influencing the MSCI to exclude digital asset treasury companies holding more than 50 percent of their assets in cryptocurrencies.

JPMorgan’s research warns that exclusion could trigger forced selloffs potentially totaling up to US$8.8 billion, with Strategy (NASDAQ:MSTR) alone possibly facing US$2.8 billion in outflows.

The final decision will be announced January 15 ,with changes taking effect in February.

The bank then upgraded ratings on Monday for Bitcoin-mining companies Cipher Mining (NASDAQ:CIFR) and CleanSpark (NASDAQ:CLSK) to overweight from neutral, citing strong momentum in high-performance computing partnerships and long-term cloud and colocation deals that improve revenue visibility.

JPMorgan’s stance highlights the institutional and regulatory tensions complicating the interface between traditional finance and the fast-evolving crypto ecosystem.

Franklin Templeton, Grayscale launch XRP ETFs

The Franklin XRP ETF (ARCA:XRPZ) and the Grayscale XRP Trust ETF (ARCA:GXRP) both launched on Monday, providing new regulated investment options for XRP exposure.

Investor response was prompt, with early trading volumes indicating strong demand and positive sentiment around XRP’s future prospects as reflected in the market’s reception to both ETFs.

Market watchers see this dual launch as a major step toward integrating crypto assets like XRP into traditional finance frameworks, enhancing liquidity and investor confidence.

Ray Youssef, CEO of peer-to-peer crypto app NoOnes, said a wave of altcoin ETF launches could bring a much-needed dose of optimism back into the market if investors interpret new listings as implicit regulatory approval.

“As market sentiment has been so underwhelming in recent times, the ETF season hitting the market at its current condition may be when they can make the most significant contribution to the digital asset economy this year.”

Youssef added that the launch of altcoin ETFs is creating a steady flow of capital into the digital asset market, providing a liquidity buffer. This momentum could lead to an end-of-year rally for altcoins.

Michael Burry debuts newsletter after Scion shutdown

Michael Burry, best known for his prescient bet against the US housing market in 2008, has launched a paid Substack newsletter not long after closing his hedge fund, Scion Asset Management.

In his introductory post, Burry emphasizes that the move does not mark a retirement, but rather a shift toward writing without the regulatory constraints that accompany professional money management.

Priced at US$39 per month, the newsletter has quickly drawn more than 21,000 subscribers.

Early essays revisit his trading history during the dot-com era and outline why he views today’s artificial intelligence boom as a supply-glutted bubble primed for correction.

With Scion now closed, Burry says the newsletter will become his primary outlet for analysis as he continues to track what he views as speculative excess building across technology markets.

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

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

This post appeared first on investingnews.com

BHP (ASX:BHP,NYSE:BHP,LSE:BHP) confirmed in a Monday (November 24) statement that its merger discussions with Anglo American (LSE:AAL,OTCQX:NGLOY) have officially ended.

The discussions trace back to April 2024, when BHP made its first offer to Anglo to combine their copper assets.

Copper has become a prime focus for various major mining companies as they seek scale and efficiency in the face of tightening supply and the costly hunt for new deposits.

BHP’s 2024 pursuit yielded a total of three offers, the last of which Anglo rejected in May of that year.

At the time, Anglo said that the deal did not meet its expectations.

That rejection didn’t entirely dissuade BHP, which according to Bloomberg made a new advance on Anglo last week.

The news outlet describes the move as a ‘last-minute proposal’ that would have prevented Anglo’s planned merger with Canada’s Teck Resources (TSX:TECK.A,TECK.B,NYSE:TECK). The combined Anglo-Teck entity is projected to become the second largest listed copper-focused producer after BHP.

In its statement, BHP said it is now abandoning its Anglo bid for good:

“Whilst BHP continues to believe that a combination with Anglo American would have had strong strategic merits and created significant value for all stakeholders, BHP is confident in the highly compelling potential of its own organic growth strategy.’

According to media reports, BHP saw a deal with Anglo as a means to keep its dominance in copper.

“While it remains the world’s top producer, its lead is narrowing in the years ahead without significant new projects,” Reuters notes. The news outlet quotes Berenberg analysts, who believe the Anglo-Teck merger now looks more solid.

“A BHP bid for Anglo would have frustrated that deal, but with BHP now stepping away, it appears that the interloper risk for Anglo has materially reduced and the Anglo/Teck Resources deal is likely to go ahead, assuming approvals are received,’ the firm wrote. The deal is still awaiting approval under the Investment Canada Act.

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

This post appeared first on investingnews.com

Perth, Australia (ABN Newswire) – Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) (OTCMKTS:ALTHF) announced the completion of the final engineering design for its new-generation SNC UPS battery system. This milestone represents a significant advancement in the Company’s European commercialisation program, developed in partnership with AMPower, the world’s largest producer of sodium-nickel-chloride solid-state batteries.

Highlights

– Final design of the next-generation SNC UPS system now completed

– Factory Acceptance Testing (FAT) for the first unit scheduled for mid-March 2026

– Five trial sites identified across the Netherlands for deployment following successful FAT

– Major step toward European-wide commercial rollout with AMPower

– Supports gas infrastructure, heavy-industry UPS, and large-scale backup markets

– Reinforces growing demand for fireproof, maintenance-free SNC technology across Europe

With the design now complete, the first production unit is scheduled to undergo Factory Acceptance Testing (FAT) in mid-March 2026. The FAT process will validate the system’s electrical performance, safety features, communication protocols, and mechanical integration. This milestone will trigger the initiation of field deployments across the Netherlands, where the Company has identified five priority trial sites.

These five locations, secured through ongoing engagement with Dutch infrastructure and industrial partners, have been selected to demonstrate reliability across a range of UPS environments-including gas transmission facilities, industrial controls, and distributed safety-critical nodes. Each site will utilise the completed SNC UPS cabinet to replace ageing lead-acid or nickel cadmium assets, providing a direct drop-in comparison of life-cycle performance, reliability, and operational simplicity.

The Company notes that Europe’s infrastructure operators-particularly in gas transportation, water utilities, and industrial safety networks-continue to seek safer, maintenance-free alternatives to conventional battery systems. Lead-acid installations across Europe are reaching end-of-life in large numbers, while nickel-cadmium units face increasing environmental and regulatory pressure. Altech’s SNC solution directly addresses these needs, providing a fireproof, hydrogen-free, and maintenance-free UPS battery capable of operating in harsh climates and ATEX-classified zones.

Completion of the final design marks the transition from engineering development into early-stage commercial deployment. The system incorporates a full stainless-steel cabinet, integrated SNC modules, advanced passive-safety architecture, and seamless BMS integration using Modbus, CAN, and RS485 interfaces. Designed as a true ‘drop-and-play’ system, operators can install the SNC unit directly into existing UPS infrastructure without modifying inverters, rectifiers, or site wiring-significantly reducing project complexity and commissioning costs.

The upcoming FAT in March 2026 will represent the Company’s most important technical milestone in the SNC program to date. A successful FAT unlocks immediate preparation for shipment of the first units into Europe, followed by live-environment installation at the five Dutch sites. Deployment will generate operational data on real-world cycling, temperature response, long-duration backup capability, and SCADA integration-data essential for broader customer adoption across Europe’s heavy-industry and utility sectors.

The Company continues to receive strong inbound interest from European, Australian and US operators assessing SNC technology as a long-life, hazard-free alternative to lithium-ion systems, which remain unsuitable for explosive or ATEX-classified environments. With its fully sealed ceramic architecture, the SNC system offers a highly attractive safety profile, particularly for organisations managing risk-critical assets.

The design-completion milestone also reinforces the strength of the Altech-AMPower partnership. AMPower’s manufacturing capability, combined with Altech’s engineering leadership and market engagement in Europe, provides a highly scalable pathway toward long-term commercialisation. As the first unit approaches FAT, both companies are preparing for higher-volume production and accelerated deployment once field trials confirm expected performance outcomes.

The Company sees the Netherlands as a strategic entry point into broader EU adoption. The country’s advanced infrastructure, strong regulatory oversight, and emphasis on operational reliability make it an ideal environment to validate the technology. Successful deployment across the five Dutch trial sites is expected to pave the way for expansion into other parts of Europe.

Altech Managing Director Iggy Tan stated:

‘This is a major achievement for our engineering team and our partnership with AMPower. Completing the final design shifts the program from development into real-world deployment, and the upcoming FAT in mid March 2026 will be a pivotal moment. With five Dutch sites preparing to receive the first systems, we are now entering an important proving phase that will demonstrate the performance, safety, and reliability advantages of our SNC UPS technology. The level of interest across Europe continues to exceed our expectations, and this milestone positions us strongly for large-scale commercial uptake.’

About Altech Batteries Ltd:

Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS (‘Fraunhofer’) to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech’s land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

Source:
Altech Batteries Ltd

Contact:
Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

News Provided by ABN Newswire via QuoteMedia

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Perth, Australia (ABN Newswire) – Locksley Resources Limited (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) provided a significant operational update for its Mojave Project in California, confirming that the project has now transitioned into the drilling program phase.

HIGHLIGHTS

– Activities have commenced for Locksley’s maiden drilling campaign at the El Campo Rare Earths Prospect, marking the start of the high-impact exploration phase

– The required reclamation bond for the Desert Antimony Mine (DAM) has been accepted by the Bureau of Land Management (BLM), triggering full approval for the expanded drilling program

– Earthworks and drill site preparation underway at El Campo, with El Campo drilling to be followed immediately by equipment mobilisation to the DAM antimony prospect

– Back-to-back drilling programs ensure a continuous flow of exploration news and data through Q1 and Q2, 2026

– These parallel advancements clear the path for testing both high-grade REE targets (up to 12.1% TREO) and the expanded Antimony Exploration Target at DAM

Earthworks contractors have mobilised to the El Campo Rare Earths Prospect to begin drill site preparations. This marks the formal commencement of the Company’s maiden five drillhole diamond drilling program (Figure 2*).

This campaign is designed to test the down-dip continuity of the high-grade REE-bearing breccia zones and shear structures mapped and sampled at surface. The drilling will provide critical geological data to validate the exploration model and confirm the extension of mineralisation at depth.

Locksley also announced, following the end of the government shutdown, the acceptance of the required reclamation bond by the U.S. Bureau of Land Management (BLM) for the Desert Antimony Mine (DAM). This payment was the final condition precedent for the expanded Plan of Operations (POO). With the bond now in place, the DAM diamond drilling program is now fully permitted and ready for execution for up to 16 drill holes for ~2,300 metres (Figure 1*).

To maximise efficiency and reduce mobilisation costs, the Company has structured a sequential drilling campaign where the diamond drill rig at El Campo will mobilise directly to the DAM prospect upon completion of the REE program. This ensures a continuous flow of exploration news and data through Q1 and Q2, 2026, testing the high-grade potential of both strategic commodities.

Kerrie Matthews, Managing Director & CEO, commented:

‘We are finishing 2025 with strong momentum. By commencing operations at El Campo and finalising the bond for DAM, we have effectively opened two fronts for exploration. To maximise efficiency and reduce mobilisation costs, the Company has structured a sequential drilling campaign. The diamond drill rig at El Campo will mobilise directly to the DAM prospect upon completion of the El Campo REE program. This ensures a continuous flow of exploration news and data through Q1 and Q2, 2026, testing the high-grade potential of both strategic commodities’.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/UER1RS4K

About Locksley Resources Limited:

Locksley Resources Limited (ASX:LKY,OTC:LKYRF) (FRA:X5L) (OTCMKTS:LKYRF) is an ASX listed explorer focused on critical minerals in the United States of America. The Company is actively advancing exploration across two key assets: the Mojave Project in California, targeting rare earth elements (REEs) and antimony. Locksley Resources aims to generate shareholder value through strategic exploration, discovery and development in this highly prospective mineral region.

Mojave Project

Located in the Mojave Desert, California, the Mojave Project comprises over 250 claims across two contiguous prospect areas, namely, the North Block/Northeast Block and the El Campo Prospect. The North Block directly abuts claims held by MP Materials, while El Campo lies along strike of the Mountain Pass Mine and is enveloped by MP Materials’ claims, highlighting the strong geological continuity and exploration potential of the project area.

In addition to rare earths, the Mojave Project hosts the historic ‘Desert Antimony Mine’, which last operated in 1937. Despite the United States currently having no domestic antimony production, demand for the metal remains high due to its essential role in defense systems, semiconductors, and metal alloys. With significant surface sample results, the Desert Mine prospect represents one of the highest-grade known antimony occurrences in the U.S.

Locksley’s North American position is further strengthened by rising geopolitical urgency to diversify supply chains away from China, the global leader in both REE & antimony production. With its maiden drilling program planned, the Mojave Project is uniquely positioned to align with U.S. strategic objectives around critical mineral independence and economic security.

Tottenham Project

Locksley’s Australian portfolio comprises the advanced Tottenham Copper-Gold Project in New South Wales, focused on VMS-style mineralisation

Source:
Locksley Resources Limited

Contact:
Kerrie Matthews
Chief Executive Officer
Locksley Resources Limited
T: +61 8 9481 0389
Kerrie@locksleyresources.com.au

News Provided by ABN Newswire via QuoteMedia

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Syntheia Corp. (CSE: SYAI,OTC:SYAIF) (‘Syntheia’ or the ‘Company’) (Syntheia.ai) is pleased to announce that it has settled an aggregate of $590,768.28 of indebtedness to certain creditors of the Company through the issuance of 4,923,069 common shares in the capital of the Company (the ‘Common Shares’) at a price of $0.12 per Common Share (the ‘Debt Settlement’). The Common Shares issued pursuant to the debt settlement are subject to a four-month hold period.

The Debt Settlement constituted a ‘related party transaction’ as defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (‘MI 61-101‘), as insiders of the Company received an aggregate of 4,923,069 Common Shares. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of such Common Shares nor the Debt Settlement exceeds 25% of the Company’s market capitalization. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Debt Settlement, which the Company deems reasonable.

About Syntheia

Syntheia is an artificial intelligence technology company which is developing and commercializing proprietary algorithms to deliver human-like conversations and deploying our technology to enhance customer satisfaction while dramatically reducing turnover and traditional staffing issues.

For further information, please contact:

Tony Di Benedetto
Chief Executive Officer
Tel: (844) 796-8434

Cautionary Statement

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release contains certain ‘forward-looking information’ within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘may’, ‘will’, ‘would’, ‘potential’, ‘proposed’ and other similar words, or statements that certain events or conditions ‘may’ or ‘will’ occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Forward-looking statements in this news release includes, but are not limited to, the synergies derived from the acquisition of the assets in the Transaction. Readers are cautioned that forward‐looking information is not based on historical facts but instead reflects the Company’s management’s expectations, estimates or projections concerning the business of the Company’s future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made.

Although the Company believes that the expectations reflected in such forward‐looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Please refer to the Company’s listing statement available on SEDAR+ for a list of risks and key factors that could cause actual results to differ materially from those projected in the forward‐looking information. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward‐looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.

Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276101

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Nutrien (TSX:NTR) has chosen the Port of Longview in Washington state as the preferred site for a new potash export terminal, shifting one of Canada’s largest resource expansions across the border.

The Saskatchewan-based producer said that Longview emerged as the strongest candidate after evaluating 30 criteria, including rail access, deep-water capability and overall construction feasibility.

Nutrien maintained the Longview site is intended to complement its existing Canadian terminals, not replace them, and emphasized that planning remains in early stages.

A final investment decision is expected in 2027, and the proposed US facility could handle five to six million metric annually, with full build-out likely requiring between US$500 million and US$1 billion.

Stuart Smyth, a professor in the University of Saskatchewan’s Agricultural and Resource Economics department, said that Canada’s regulatory environment and rail bottlenecks have become decisive factors.

“To put a billion-dollar investment in place is going to require rail capacity improvements, and by the sounds of what Nutrien is saying, things are easier to get done in the United States than they are in Canada,” he said in an interview with CBC.

Smyth added that discussions around this move likely began years ago, well before recent trade tensions.

Nutrien, the world’s largest potash fertilizer producer, mines the mineral from six underground operations in Saskatchewan and ships most of its exports—up to 11 million metric tons per year—through Neptune Terminals in Vancouver’s North Shore.

Canpotex, co-owned by Nutrien, already ships about three million metric tons through Portland, Oregon, demonstrating a long-running reliance on US infrastructure when Canadian capacity tightens.

The Port of Vancouver reported potash exports up 26 percent year-over-year, but expansion at its North Shore and Westshore terminals may still fall short of projected global demand. Nutrien has repeatedly raised concerns about transportation delays in Canada and has cited rail congestion in Metro Vancouver and labour disputes that have disrupted past shipments.

The company said the Longview plan is designed to ensure reliability as it competes for market share in Asia.

Political backlash

The decision has triggered political reactions across three provinces and at the federal level, though officials broadly agree Nutrien is acting in its business interest.

Saskatchewan Trade and Export Development Minister Warren Kaeding said, “Nutrien has their own shareholders and their own board that they have to be responsible to, so we’re certainly very respectful of that decision,” while also calling it “unfortunate that they’ve decided that they need to build outside of Canada.”

He said the province will continue pushing Ottawa to support a “major economic corridor” that strengthens export routes in all directions.

British Columbia Premier David Eby questioned the choice more sharply, arguing that relying on a US port places Canadian resources at risk.

“Puts Saskatchewan’s resources in a precarious place, and denies BC a port expansion,” Eby said.

Federal Transportation Minister Steve MacKinnon also urged the company to reconsider, saying, “I’m disappointed at this decision and we’re hoping to persuade the company to change its mind.”

Nutrien reported US$1.7 billion in net earnings in the first nine months of 2025, supported by strong fertilizer prices, and expects global demand to continue rising.

Its expansion plans coincide with the looming arrival of mining giant BHP Group’s (ASX:BHP,NYSE:BHP,LSE:BHP,OTCQX:BHPLF) Jansen development in Saskatchewan, slated to begin production in 2027 and expected to become the world’s largest potash mine.

The Longview terminal remains at least two years away from a formal go-ahead, but if built, it would allow the company to ship as much product through Washington as through Canadian ports by the early 2030s.

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

This post appeared first on investingnews.com

East Star Resources Plc (LSE: EST), the Kazakhstan-focused gold and base metals explorer, is pleased to announce an Independent JORC-Compliant Exploration Target (the ‘Exploration Target’) for the Soviet-era Rulikha Deposit. The Rulikha Deposit is located primarily on East Star’s 100%-owned tenements in the East Region of Kazakhstan. The estimate contains an upper limit of 23Mt @ 2.4% copper equivalent (CuEq), constrained by an open pit using the processing recoveries and metal prices contained in Table 2 below. Using the upper limit assessment, the deposit has the potential to contain over 550,000 tonnes of copper; nearly double the CuEq metal of the Company’s Verkhuba Copper Deposit.

The town of Rulikha and the district of Shemonaikha have already provided East Star with the required land access approvals to drill, however, further environmental approvals are still required.

Highlights:

  • Near-surface, high-grade copper
    • Vein 1 contains very high Cu grades and significant thickness
    • Mineralisation begins from approximately 30 m depth resulting in a low strip ratio
  • Multiple payable metals
    • Contributions from Zn, Ag, Pb and Au improve optionality and potential economics
  • Excellent infrastructure
    • Rail (<2km), roads, power lines, existing concentrators within trucking/rail distance
  • Large mineralised system
    • Numerous mineralised lenses over a 1.9 km strike
    • Additional untested anomalies (such as the Rulikha North IP target) provide significant upside beyond current modelling
  • Water, the local settlement, and moving infrastructure are three hurdles which need to be overcome for permitting drilling and any future mining of this deposit

Table 1: Exploration Target, Upper and Lower Limit

Veins 1-3

Tonnage

Cu (%)

Contained Cu (t)

Au (g/t)

Au (oz)

Zn (%)

Zn (t)

Ag (g/t)

Ag (oz)

Lower Limit

15,000,000

1%

150,000

0.1

48,000

0.80%

120,000

5

2,400,000

Upper Limit

23,000,000

2%

460,000

0.3

222,000

1.50%

345,000

15

11,000,000

Independent Consultant Recommendations to Convert to a Mineral Resource

1. Verification/twin drilling of Vein 1 and upper lens system

2. Infill drilling to confirm continuity and reduce spacing

3. Density measurements

4. Metallurgical sampling

5. Regulatory approvals for water-protection areas

Alex Walker, CEO of East Star Resources, commented:

‘We’re delighted to add a second and significant multi-element advanced exploration target to our portfolio. If converted to a JORC resource, Rulikha could increase our copper inventory by three times, while the economic modelling, based on the limited historic drill data available, provides an early indication of an extremely robust operation. East Star will need to undertake the significant consulting work to advance this project, and we look forward to working with the government and local communities to realise the shared benefits such a development could bring.’

Figure 1: Two Priority Target Areas Requiring Verification Drilling

A map of a target area AI-generated content may be incorrect.

Figure 2: Samples from Site Containing Copper Oxides and Sulphides Directly Above Target 1

A close-up of a rock AI-generated content may be incorrect.

A close-up of a rock AI-generated content may be incorrect.

In-situ copper oxide (malachite) at Target 1

In-situ sulphides at Target 1

Table 2: Pit Optimisation Parameters

Value

Unit

Ore Mining Cost

2.00

USD$/t

Waste Mining Cost

2.00

USD$/t

Mining Loss

0.0

%

Mining Dilution

0.0

%

Processing cost (Flotation)

20

USD$/t

Processing recoveries:

Copper

90

wt %

Zinc

70

wt %

Lead

50

wt %

Gold

50

wt %

T&R Cost

4.0

USD$/t

G&A Cost

2.0

USD$/t

Element price:

Copper

9,300

USD$/t

Zinc

2,500

USD$/t

Lead

1,750

USD$/t

Gold

3,000

USD$/oz

Payability

Copper

90

wt %

Zinc

60

wt %

Lead

60

wt %

Gold

50

wt %

Royalties:

Copper

8.6

wt %

Zinc

10.5

wt %

Lead

10.4

wt %

Gold

10.5

wt %

Copper Equivalent (Cu_Eq) Factor:

Copper

1.000

Zinc

0.209

Lead

0.105

Gold

0.580

Ore Density

2.9

t/m3

Waste Density

2.9

t/m3

Final Pit Slopes

40

degrees

Cutoff Grade

0.50

Cu_Eq %

Reference

Nichols, R (2025) Estimation and Reporting of an Exploration Target for the Rulikha Deposit, East Kazakhstan. [Accessed 20 November 2025]. Available at: https://www.eaststarplc.com/presentationsandreports

Contacts:

East Star Resources Plc

Alex Walker, Chief Executive Officer
Tel: +44 (0)20 7390 0234 (via Vigo Consulting)

SI Capital (Corporate Broker)

Nick Emerson
Tel: +44 (0)1483 413 500

Vigo Consulting (Investor Relations)

Ben Simons / Peter Jacob / Anna Stacey
Tel: +44 (0)20 7390 0234

About East Star Resources Plc

East Star Resources is focused on the discovery and development of copper and gold in Kazakhstan. The Company is pursuing multiple exploration strategies including:

  • Volcanogenic massive sulphide (VMS) exploration, which to date includes a deposit with a maiden JORC MRE of 20.3Mt @ 1.16% copper, 1.54% zinc and 0.27% lead, in an infrastructure-rich region, amenable to a low capex development
  • Copper porphyry and epithermal gold exploration, with multiple opportunities for Tier 1 deposits and a $25 million+ strategic JV agreement with Endeavour Mining for gold exploration

Visit our website:

www.eaststarplc.com

Follow us on social media:

LinkedIn: https://www.linkedin.com/company/east-star-resources/

X: https://x.com/EastStar_PLC

Subscribe to our email alert service to be notified whenever East Star releases news:

www.eaststarplc.com/newsalerts

The person who arranged for the release of this announcement was Alex Walker, CEO of the Company.

This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310) (‘UK MAR’). Upon the publication of this announcement, this inside information (as defined in UK MAR) is now considered to be in the public domain.

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New Frontier Minerals Ltd (LSE and ASX: NFM) is pleased to advise that it has received firm commitments to subscribe for A$2,250,000 (before costs) through a placement of 107,142,857 shares (‘New Share‘) to professional and sophisticated investors at an issue price of $0.021 per share (‘Placement‘). Participants in the Placement will receive one (1) free attaching option for every two (2) New Shares allocated in the Placement, with an exercise price of $0.04 per option and a 2-year expiry from the date of issue (‘Attaching Options‘).

Highlights:

  • New Frontier successfully completes a $2.25m placement at $0.021 per share, with strong support from new and existing sophisticated and institutional investors
  • The funds will be utilised to expedite advancing the Harts Range Project post-entering a binding commercial framework with Metallium Ltd (ASX: MTM)1, which aims to:
      • Create a novel processing pathway for Harts Range ore, targeting Heavy Rare Earth Elements (HREE) supply to US magnet and defence customers
  • The key catalyst was using MTM’s proprietary Flash Joule Heating (FJH) technology on Harts Range raw ore (25kg bulk sample), which delivered exceptional beneficiation results, including1:
      • ~20x upgrade in total REO from 1.7% → 35 % (TREO) in a single step flash; and
    • ~53x enrichment in dysprosium (Dy2O3) to 10.03% and 21x in terbium (Tb4O7) to 0.64% – with complete removal of detectable Fe, Si and Th from raw, un-beneficiated (no flotation, acid leaching or hydrometallurgical pre-conditioning) ore
  • Drilling results are expected over the coming weeks as a ~2,500m RC drilling campaign (up to 46 holes), commences at Harts Range, targeting depth extensions of HREE mineralisation, particularly dysprosium and terbium
  • Funds will also be allocated to progress the mining lease application2 at the NW Queensland Copper Project including ongoing work with Austral Resources Ltd (ASX: AR1)

Gerrard Hall, Chairman, commented:

‘Receiving the exceptional beneficiation results for dysprosium and terbium from Harts Range raw ore then executing a binding commercial framework with Metallium to create a potential pathway to supply US magnet and defence customers has built up tremendous forward momentum for New Frontier ahead of our maiden drilling campaign getting underway. As such, we are delighted with the overwhelming support from new and existing investors for this capital raise.

The funds will enable the Company to expedite advancing the Harts Range Project and build upon the emerging relationship with Metallium, while concurrently progressing work on the Big One mining license application at the NW Queensland Copper Project. This is an exciting time for New Frontier. With clear development routes for both the Harts Range and NW Queensland Projects, the Board believes the Company is well positioned to deliver significant value for shareholders.’

Placement Details

Under the Placement, the Company will issue 107,142,857 New Shares at an issue price of $0.021 per

share to raise $2,250,000 (before costs). The issue price of $0.021 per New Share represents:

  • 16.0% discount to the last close price of A$0.025 on Thursday, 20 November 2025; and
  • 15.8% discount to the 10-day volume weighted average price of A$0.0249.

The Company will also issue 53,571,430 Attaching Options. The Attaching Options will be issued subject to shareholder approval, to be obtained at a General Meeting (‘EGM’) of the Company which is intended to be held on or around 31 January 2026 (refer to proposed Placement timetable below). The New Shares issued under the Placement and shares issued upon the exercise of the Attaching Options will rank pari passu with the Company’s existing shares on issue. A total of 33,083,033 New Shares will be issued under ASX Listing Rule 7.1 and a total of 74,059,824 New Shares will be issued under ASX Listing Rule 7.1A.

The capital raised from the placement will be used for ongoing exploration and related activities including:

  • Expediting development work at Harts Range and development of a commercial framework with Metallium;
  • Big One Deposit mining lease application and ongoing work with Austral Resources; and
  • General working capital.

Bell Potter Securities Limited acted as Lead Manager and Bookrunner to the placement. Refer to Appendix 3B dated 25 November 2025 for details of the Lead Manager fees.

The proposed Placement timetable is set out below:

Event

Date

Trading halt lifted, announcement of completion of the Placement and resume trading

Tuesday, 25 November 2025

Completion and allotment of New Shares issued under the Placement

Thursday, 4 December 2025

Estimated date of EGM to approve Attaching Options

Wednesday, 31 January 2026

Completion and allotment of Attaching Options under the Placement

Wednesday, 7 February 2026

The above timetable is indicative only and subject to change. New Frontier reserves the right to amend any or all of these dates at its absolute discretion, subject to the Corporations Act 2001 (Cth), the ASX Listing Rules and any other applicable laws. The quotation of the new shares is subject to approval from the ASX.

Authorised by the Board of New Frontier Minerals Ltd.

For further information please contact:

New Frontier Minerals Limited

+61 8 6558 0886

Gerrard Hall (UK), Chairman

S. P. Angel Corporate Finance LLP

(Corporate Broker)

+44 (0)1483 413500

Ewan Leggat

+44 (0) 20 7409 3494

St Brides Partners Ltd

(Financial PR)

+44 (0)20 7236 1177

Ana Ribeiro and Charlotte Page

REFERENCES

  1. NFM ASX Release (18 November 2025) – Binding Commercial Framework with Metallium Post Exceptional Heavy Rare Earth Results from Harts Range
  2. NFM ASX Release (13 November 2025) – NFM Lodges Mining Lease Application for Big One Copper Deposit

About New Frontier Minerals

New Frontier Minerals Limited is an Australian-based focussed explorer, with a strategy to develop multi-commodity assets that demonstrate future potential as an economic mining operation. Through the application of disciplined and structured exploration, New Frontier has identified assets deemed core and is actively progressing these interests up the value curve. Current focus will be on advancing exploration activity at the Harts Range Niobium, Uranium and Heavy Rare Earths Project which is circa 140km north-east from Alice Springs in the Northern Territory. Other interests include the NWQ Copper Project, situated in the copper-belt district circa 150km north of Mt Isa in Queensland.

New Frontier Minerals is listed on the LSE and ASX under the ticker ‘NFM’.

Competent Persons Statement

The scientific and technical information in this announcement, which relates to metallurgical results, exploration results and the geology of the deposits described, is based on information compiled and approved for release by Mark Biggs. Mark Biggs is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM Member # 107188) and meets the requirements of a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012 Edition). Mark Biggs has 35 years of experience relevant to Rare Earth Elements (REE), industrial mineral copper mineralisation types, as well as expertise in the quality and potential mining methods of the deposits under consideration. Additionally, he has 25 years of experience in the estimation, assessment, and evaluation of exploration results and mineral resource estimates, which are the activities for which he accepts responsibility. He also successfully completed an AusIMM Online Course Certificate in 2012 JORC Code Reporting. Mark Biggs is a consultant with ROM Resources and was engaged by New Frontier Minerals Limited to prepare the documentation for several prospects, specifically those within the Harts Range Prospects upon which the Report is based. Mr Biggs consents to the inclusion in this announcement of the matters based on his information and supporting documents in the form and context in which it appears.

Furthermore, the full nature of the relationship between himself and New Frontier Minerals Limited has been disclosed, including any potential conflicts of interest. Mark Biggs is a director of ROM Resources, a company that is a shareholder of New Frontier Minerals Limited, and ROM Resources provides occasional geological consultancy services to New Frontier Minerals Limited.

The Report or excerpts referenced in this statement have been reviewed, ensuring that they are based on and accurately reflect, in both form and context, the supporting documentation relating to exploration results and any mineral resource estimates. The release of the Report and this statement has been consented to by the Directors of New Frontier Minerals Limited.

Forward Looking Statements

Certain information in this document refers to the intentions of New Frontier Minerals Ltd, but these are not intended to be forecasts, forward-looking statements, or statements about future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of events in the future is subject to risks, uncertainties and other factors that may cause New Frontier Minerals Ltd’s actual results, performance, or achievements to differ from those referred to in this announcement. Accordingly, New Frontier Minerals Ltd, its directors, officers, employees, and agents, do not give any assurance or guarantee that the occurrence of the events referred to in this announcement will occur as contemplated. The interpretations and conclusions reached in this announcement are based on current geological theory and the best evidence available to the authors at the time of writing. It is the nature of all scientific conclusions that they are founded on an assessment of probabilities and, however high these probabilities might be, they make no claim for complete certainty. Any economic decisions that might be taken based on interpretations or conclusions contained in this announcement will therefore carry an element of risk. The announcement may contain forward-looking statements that involve several risks and uncertainties. These risks include but are not limited to, economic conditions, stock market fluctuations, commodity demand and price movements, access to infrastructure, timing of approvals, regulatory risks, operational risks, reliance on key personnel, Ore Reserve and Mineral Resource estimates, native title, foreign currency fluctuations, exploration risks, mining development, construction, and commissioning risk. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward-looking statements if these beliefs, opinions, and estimates should change or to reflect other future developments.

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