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The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.

How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.

While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.

From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.

New 52-Week Highs Finally Picking Up

If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.

As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.

Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.

The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.

Trend Check: GoNoGo Still “Go”

The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.

Active Bullish Patterns

We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.

Failed Bearish Patterns

In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.

The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.

We’ll continue to monitor these formations as they develop because, at some point, that will change.

Glencore (LSE:GLEN,OTC Pink:GLCNF) is preparing to shut down its final two Australian copper mines next week, ending more than six decades of upstream operations in Queensland.

The closure of the underground Enterprise and X41 mines in Mount Isa comes as uncertainty grows over the future of the adjacent copper smelter, which the company says could also be shut down without urgent government support.

The Swiss commodities giant first announced its plan to end mining operations in October 2023, citing declining ore grades and mounting financial losses.

The decision also coincides with Glencore’s sale of its Lady Loretta zinc mine and nearby landholdings to Austral Resources (ASX:AR1), further reducing its footprint in the region.

At the center of the company’s remaining copper assets is the Mount Isa smelter, which processes over one million tons of copper concentrate annually from across Australia, including from BHP (ASX:BHP,NYSE:BHP,LSE:BHP,OTC:BHPLF)Olympic Dam in South Australia.

But that smelter’s future now hangs in the balance. According to an internal staff memo obtained by local media, Glencore warned that without federal and state support, the Mount Isa smelter and Townsville copper refinery will be placed into care and maintenance, putting thousands of direct and indirect jobs at risk.

“To date Glencore has been absorbing losses hopeful that a viable solution could be found,” wrote Troy Wilson, Glencore’s interim chief operating officer in North Queensland, in a message to employees.

He noted that the company is engaged with the Queensland and Australian governments but has yet to secure a funding commitment.

A final decision on the smelter is expected by the end of September.

Thousands of local jobs at risk

The potential shutdown could also have wide-reaching consequences for the regional economy.

While the smelter and refinery directly employ about 550 workers, industry group Townsville Enterprise estimates that as many as 17,000 jobs in the region are tied to the copper supply chain and related businesses.

That includes equipment suppliers, service contractors, and downstream manufacturers.

Roland Lobegeiger, a field services manager at Isadraulics in Mount Isa, said the loss of the smelter would be devastating for the town. “Without it, the town’s not going to be here,” he told news.com.au.

“There are other mines — there would be other work in the area, but would the town recover? It’s hard to say,” he added.

The company’s struggle to keep its Queensland operations afloat comes at a time when global smelting margins are being squeezed by Chinese overcapacity.

In May, Bloomberg reported that Chinese smelters matched their record for refined copper production, producing 1.254 million tonnes despite plummeting treatment and refining charges, which are the fees miners pay smelters to process raw ore.

Beijing has allowed massive expansion in smelting capacity to support its clean energy sector, which depends heavily on copper.

Chinese smelters, many of which are state-owned, now produce more than half the world’s refined copper and are often shielded from financial distress by subsidies and state backing. That advantage has fueled growing frustration among non-Chinese producers.

“Unfortunately, it’s no longer a level playing field with our competitors in China heavily subsidised by government, which means they produce copper metal at much lower cost,” Wilson said in June.

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

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The simultaneous listing of the xU3O8 token across major cryptocurrency trading venues: KuCoin, MEXC, and Gate.com has been announced today. This multi-platform launch marks a significant milestone in real-world asset (RWA) tokenization, bringing institutional-grade uranium investment to a combined user base of over 115 million traders worldwide.

The xU3O8 token represents fractional ownership of physical uranium ore concentrate (yellowcake) stored with Cameco in regulated facilities. This breakthrough democratizes access to the uranium market, which previously required minimum investments of 100,000 lbs (approximately $7.2 million) and specialized broker relationships, effectively limiting participation to institutional investors and large corporations.

The coordinated listing across leading trading venues ensures maximum accessibility and liquidity for xU3O8 tokens:

  • KuCoin, trusted by over 41 million users across 200+ countries, provides comprehensive trading services including spot, margin, options, and futures. As a pioneering technology platform, KuCoin is committed to user-centric principles and making cryptocurrency accessible to everyone, resonating with xU3O8’s goal of breaking down traditional investment barriers.
  • MEXC, founded in 2018 and serving 36 million global users, has demonstrated remarkable growth with a 143% increase in spot trading volume and 118% jump in futures trading volume throughout 2024. Known for making crypto “simple, accessible, and rewarding,” MEXC’s user-friendly platform aligns perfectly with xU3O8’s mission to democratize uranium investment.
  • Gate.com, one of the world’s top 3 cryptocurrency exchanges by real trading volume with over 32 million users, brings institutional-grade security and supports 3,600+ digital assets. As an industry pioneer committed to 100% reserve holdings, Gate.com provides the robust infrastructure needed for tokenized commodities.

The listing comes at a pivotal moment for uranium markets. According to the World Nuclear Association, uranium demand is projected to increase 28% by 2030 and 51% by 2040, driven by global decarbonization efforts, energy security concerns, and the rapid expansion of AI infrastructure requiring reliable baseload power. The uranium market already faces a significant supply-demand imbalance, with global production in 2024 at approximately 155 million lbs falling short of current demand at 197 million lbs, creating a deficit of over 40 million lbs per year, without accounting for additional reactors coming online

The multi-platform listing eliminates traditional barriers that have kept uranium investment exclusive. Investors can now start with any amount instead of millions of dollars, benefit from instant blockchain settlement versus 14-30 day traditional settlement cycles, and access global trading 24/7 from anywhere versus limited OTC market hours. xU3O8 provides complete on-chain visibility versus opaque traditional markets and enables continuous trading across multiple venues versus limited OTC liquidity.

The RWA tokenization market is projected to reach $16 trillion by 2030, with commodities representing a significant portion of this growth. xU3O8’s multi-platform listing provides a blueprint for how traditional commodity markets can be revolutionized through blockchain technology.

Built on Tezos blockchain technology via Etherlink, xU3O8 leverages a sophisticated smart contract architecture. The primary layer tracks physical uranium holdings while the secondary layer manages fractional ownership. xU3O8 trading is now live across all trading venues, with users able to access detailed market data, trading charts, and educational resources through each platform’s interface. The coordinated launch ensures optimal liquidity and price discovery across global markets.

Click here to connect with xU3O8 to receive an Investor Presentation

Source

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Investor Insight

In an increasingly eco-conscious global market, Carbonxt presents a compelling investment case, leveraging a growing addressable market driven by strategic partnerships and regulatory changes that are set to drive demand for activated carbon through 2029.

Overview

Activated carbon, derived from materials like wood, coconut husks and coal, is a critical tool for filtering contaminants from air and water. Its effectiveness comes from a unique oxidation process that creates a vast network of microscopic pores, dramatically increasing surface area. This versatility makes activated carbon essential across industries, including healthcare, agriculture, oil and gas, food processing, and environmental remediation.

For large-scale industrial applications, activated carbon is available in powdered, pelletized and granular forms, with prices ranging from US$2,000 to US$6,000 per ton – presenting a significant and growing market opportunity.

Carbonxt Group

Carbonxt Group (ASX:CG1) is positioned to capitalize on this demand. As an innovative manufacturer of custom activated carbon, Carbonxt has expanded its production footprint in the United States through a joint venture with Kentucky Carbon Processing, forming NewCarbon. This partnership enhances the company’s gross margins and improves access to high-quality raw materials.

A key driver of Carbonxt’s growth is its newly commissioned Inez Power Activated Carbon Plant in Kentucky, which focuses on liquid-phase applications, particularly for PFAS water treatment – a segment twice the size of the air-phase market. PFAS, known as “forever chemicals,” are persistent in the environment and linked to a range of health risks including cancer and developmental disorders.

The EPA’s 2024 National Primary Drinking Water Regulations and federal infrastructure funding are accelerating the need for advanced PFAS treatment solutions. Carbonxt’s premium-grade granular and pelletized activated carbon is designed to meet this demand, enabling US water utilities to achieve compliance and improve water quality.

With more than 50,000 water utilities across the US, including 4,000 serving populations greater than 10,000, Carbonxt is strategically positioned to supply this rapidly expanding market segment and compete with incumbent providers.

In addition to the Kentucky facility, Carbonxt operates two other US-based plants: the Black Birch Powdered Activated Carbon Facility in Georgia, and the Arden Hills Pelletization Plant in Minnesota. These three sites have a combined production capacity of 13,500 tons per annum, with an expansion pathway to 43,500 tons by 2027.

Company Highlights

  • Environmental Market Opportunity: Carbonxt operates in the US activated carbon market valued at over US$1 billion, with its products addressing both air and water-phase applications. Regulatory changes, including the EPA’s 2024 NPDWR for PFAS – are expected to triple market size in the next five years to more than US$2 billion.
  • Cutting-edge Manufacturing Footprint: The company now operates three US-based production plants with a combined current capacity of 13,500 tons and a path to expand this to 43,500 tons by 2027.
  • NewCarbon JV Strength: The strategic partnership with Kentucky Carbon Processing through the NewCarbon JV is enabling the successful commissioning of the Inez Power AC plant in Kentucky. The plant positions Carbonxt as a premium supplier in the PFAS-focused water treatment market.
  • Product Differentiation: Carbonxt produces powdered, pelletized and granular activated carbon. Notably, its Inez carbon achieved a 99 percent PFOA removal rate, surpassing competitors in early trials. Meanwhile, its PAC products are non-brominated, reducing corrosiveness and improving plant safety.
  • Strong Demand Outlook: Tightening federal and state regulations on mercury and PFAS emissions are accelerating the adoption of Carbonxt’s technologies. Water utilities in more than 11 US states have adopted enforceable PFAS limits, with others expected to follow.

Core Product

High-performance Activated Carbon

Carbonxt designs and manufactures high-performance activated carbon products for customers in the industrial, utility and municipal sectors. The company’s product range includes powdered, pelletized and granular activated carbon, engineered for optimal efficiency in air purification and water treatment. Carbonxt’s non-brominated, oxidizing formulations are non-corrosive and maintain performance throughout their lifecycle, reducing plant wear and lowering operational costs.

Carbonxt Activated Carbon

Although listed in Australia, Carbonxt’s operations are focused in the United States, with production based out of three strategically located facilities. These enable Carbonxt to meet rising US demand for clean technology solutions in compliance-driven industries.

A major catalyst for growth is the newly commissioned Inez Power Activated Carbon Plant in Kentucky, developed through Carbonxt’s joint venture with Kentucky Carbon Processing (NewCarbon). The facility produces granular and pelletized activated carbon targeting the liquid-phase water treatment market, particularly PFAS removal. This segment is expected to drive a larger share of Carbonxt’s future revenue mix, with early product samples showing 99 percent PFOA removal and 92 percent geosmin removal – outperforming leading competitors.

Highlights:

  • Strong Market Outlook: Demand for activated carbon – especially for PFAS treatment and industrial air control – continues to rise amid tightening EPA regulations and state-level mandates.
  • Pricing Trends: Average pricing for granular activated carbon in municipal bids has risen steadily, with recent public tenders ranging from US$2.34 to US$2.57/lb.
  • Looking Up: Carbonxt’s H1 FY25 gross margin rose to 49 percent, up from 44 percent in H1 FY24, driven by higher product pricing and cost efficiency at its Georgia and Minnesota plants.
  • Use Cases:
    • Powdered Activated Carbon – For mercury, acid gas and flue gas removal in coal-fired power stations, cement plants and industrial incinerators. Products include MatsPAC, AquaPAC and CEMPAC.
    • Pelletized Activated Carbon – Used for VOC and hydrogen sulphide removal from air and gas streams. Tailored for emissions-heavy industries and energy applications.
    • Granular Activated Carbon (GAC) – Designed for PFAS, taste and odor removal in municipal drinking water systems. Developed at the Inez plant with superior performance metrics.
  • Contract Agreements: In 2025, Carbonxt secured a US$4.3 million purchase order from Wisconsin Public Service for activated carbon supply. The company also extended a four-year supply agreement with Reworld Waste, valued at approximately AU$6 million per annum, for premium powdered activated carbon products.

Production Facilities

Carbonxt Production Facilities

Carbonxt operates three U.S.-based production facilities, each specializing in a key segment of the activated carbon market.

Inez Power Activated Carbon Plant (Kentucky)

Carbonxt’s newest and most advanced facility, Inez has reached full mechanical completion and is currently in the commissioning phase. It produces granular and pelletized activated carbon, specifically formulated for PFAS removal and drinking water treatment. Early product samples have demonstrated 99 percent PFOA removal efficiency and 92 percent geosmin removal, outperforming key competitors. The plant’s initial capacity of 6,000 tons will scale to 10,000 tons, positioning Carbonxt as a premium GAC supplier in the North American water treatment market.

Black Birch Powdered Activated Carbon Facility (Georgia)

This facility manufactures wood-based powdered activated carbon, supporting industrial applications including mercury and flue gas control. It produces specialized products such as MatsPAC, AquaPAC and CEMPAC, with an annual capacity of 6,000 tons, expandable to 10,000 tons. Cost-reduction initiatives at this site have contributed to Carbonxt’s improved gross margins in FY25.

Arden Hills Pelletization Plant (Minnesota)

Focused on pelletized wood and lignite-based carbons, Arden Hills supplies products like NAQ-ACP and CTC-ACP, used in mercury removal, tolling arrangements and VOC capture. The facility currently operates at 7,500 tons per annum.

Capacity Expansion Outlook

Combined, Carbonxt’s facilities currently operate at 13,500 tons of annual production, with an established path to expand to 43,500 tons by 2027. The diverse geographic locations provide resilience against weather disruptions and ensure uninterrupted supply across markets.

Management Team

David Mazyck – President, NewCarbon and Director of Technology

Dr. David Mazyck is a world-leading expert on activated carbon (AC) and its applications including mercury capture. He has developed AC products for major multinational AC manufacturers and has regularly consulted them on technical issues. Mazyck is the former chairman of the Activated Carbon Standards Committee for the American Waterworks Association and has developed products for NASA.

He received his PhD in environmental engineering from Penn State University, where he also earned a PhD minor in fuel science.

Matthew Driscoll – Chairman

Matthew Driscoll has significant experience across several industries, including online technologies, financial services, fintech, cleantech, property and resources. He has more than 30 years’ experience in capital markets and the financial services industry and is an accomplished company director in roles across listed and private companies.

He has significant experience in international business growth, mergers and acquisitions, equity and debt raisings and building strategic alliances. His current directorships include NED Energy Technologies, NED Blina Minerals, NED Eco Systems, and NED Smoke Alarms Holdings.

Warren Murphy – Managing Director

Warren Murphy has led a large number of acquisitions and financings across the energy, resources and infrastructure sectors. This includes the development of over 2,000 MW of Greenfields power stations and the acquisition of over 3,000 MW of generation assets.

He was co-head of the Australian Infrastructure & Project Finance Group and Head of Energy at Babcock & Brown based in the Sydney office and led the development of Babcock & Brown’s energy sector capability in Australia and New Zealand, including the founding of Infigen Energy and its unlisted predecessor, Global Wind Partner, where he served as a director from inception until June 2009.

Murphy was also a director of the ASX-listed Alinta and Sydney Gas, as well as the unlisted Coogee Resources.

Nicholas Andrews – Independent Director

Nicholas Andrews has held the role of executive chairman and CEO at Magontec (ASX:MGL), an established business in the global magnesium sector. He is a member of the executive committee and serves on the board of the International Magnesium Association. Prior to his executive career, Andrews held several senior roles in the financial services sector across both investment management and investment banking.

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Former White House chief of staff Ron Klain is cooperating with congressional investigators seeking information into former President Joe Biden’s mental health during his time in office, a pair of lawmakers suggested Thursday.

Klain, who ran Biden’s White House for the first two years of his term, is currently sitting down with staff on the House Oversight Committee as part of Chair James Comer’s probe into whether top administration aides covered up signs of decline in the former president while he was in office.

Rep. Ro Khanna, D-Calif., told reporters roughly an hour into the session that Klain ‘answered every question’ that Republicans put forward.

‘I found Mr. Klain to be very credible. He answered every single question. He was fully cooperative. There are times where he was asked about personal conversations he had with the president, and he was forthcoming,’ Khanna said.

‘I really appreciate his candor and the comprehensive way he had answered every question.’

Rep. Andy Biggs, R-Ariz., told Fox News Digital minutes later when asked if Klain was credible, ‘Yeah – when I say credible, I think he is telling what he knows accurately. I mean, he’s trying to be accurate. So that’s what I’d say.’

‘In my opinion, he is not trying to avoid answering the questions. He’s answering the questions carefully. He’s saying the things that I kind of expected him to say,’ Biggs said. ‘But he’s been answering the questions, I think, forthrightly and in the way he sees the world.’

Comer, R-Ky., echoed the positive feedback to reporters when the session temporarily broke for lunch.

‘I think we’re having a very good transcribed interview. Mr. Klain is being fairly responsive to our questions,’ Comer said, adding that it would likely ‘go late into the afternoon.’

While he declined to give specifics on the back-and-forth, Comer told reporters, ‘We’ve asked specific questions. Obviously, evidence emerges on a daily basis that would suggest Joe Biden wasn’t mentally fit to be President of the United States.’

In closed-door transcribed interviews, it’s common for Republican and Democratic committee staff to each get an hour of questioning at a time, trading off until no more questions remain.

The two lawmakers spoke to reporters after the first hour of GOP questioning was finished.

That means Klain’s interview could go on for several hours.

Comer is investigating whether Biden’s top White House aides concealed signs of mental decline in the then-president, and if that meant executive actions were signed via autopen without his knowledge.

Biden maintained he ‘made every decision’ in a recent interview with The New York Times.


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The White House is claiming that Russia was attempting to sow ‘distrust and chaos,’ even as reports from the Office of the Director of National Intelligence suggest the Obama administration ‘manipulated’ Russian interference to undercut Trump’s win in 2016. 

Press secretary Karoline Leavitt was asked about whether Secretary of State Marco Rubio’s position when he led the Senate Intelligence Committee fell in line with the Office of the Director of National Intelligence’s new findings. 

‘He said what they found is troubling,’ Leavitt said, while standing beside Director of National Intelligence Tulsi Gabbard at a Wednesday White House press briefing. ‘We found irrefutable evidence of Russian meddling, which the director of national intelligence just confirmed for all of you that Russia was trying to sow distrust and chaos.’ 

‘What’s the outrage in this – that Secretary Rubio did not say at the time, the Democrats were saying at the time – is the fact that the intelligence community was concocting this narrative that the president colluded with the Russians, that the president’s son was holding secret meetings with the Russians, all of these lies that were never true,’ she continued. 

In 2020, the Senate Intelligence Committee, led by then-Sen. Rubio, released a report finding ‘irrefutable evidence’ of Russian interference in the 2016 election. Now, Gabbard claims Obama officials manipulated intelligence to undermine Trump’s victory by playing up Russia’s actions during the 2016 election. 

But, Rubio said at the time, ‘We can say, without any hesitation, that the Committee found absolutely no evidence that then-candidate Donald Trump or his campaign colluded with the Russian government to meddle in the 2016 election.’

He added that the report had found ‘deeply troubling actions’ on behalf of the FBI, ‘particularly their acceptance and willingness to rely on the ‘Steele Dossier’ without verifying its methodology or sourcing.’

The Steele dossier was funded by Hillary Clinton’s presidential campaign and the Democratic National Committee through the law firm Perkins Coie.

Documents recently released by Gabbard found intelligence showing Russian actors did not impact the 2016 election had been ‘suppressed.’ 

The Obama administration ‘manufactured and politicized intelligence’ to create the narrative that Russia was attempting to influence the 2016 presidential election, despite information from the intelligence community stating otherwise, Gabbard claimed.

Gabbard also said the declassified documents have been shared with the Department of Justice and the FBI so those agencies can evaluate if any criminal implications stemming from the materials are warranted. 

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

‘Nothing in the document issued last week undercuts the widely accepted conclusion that Russia worked to influence the 2016 presidential election but did not successfully manipulate any votes. These findings were affirmed in a 2020 report by the bipartisan Senate Intelligence Committee, led by then-Chairman Marco Rubio,’ he added. 

Rubio’s office referred Fox News Digital to Leavitt’s comments. 

Documents stated that intelligence officials had found Russia was ‘probably not trying… to influence the election by using cyber means.’

One instance was on Dec. 7, 2016, weeks after the election. Then-Director of National Intelligence James Clapper’s talking points stated: ‘Foreign adversaries did not use cyberattacks on election infrastructure to alter the U.S. presidential election outcome.’

A presidential daily brief prepared for President Barack Obama in 2016 assessed: ‘Russian and criminal actors did not impact recent US election results by conducting malicious cyber activities against election infrastructure.’

But, the brief found, ‘Russian Government-affiliated actors most likely compromised an Illinois voter registration database and unsuccessfully attempted the same in other states.’

The brief stated that it was ‘highly unlikely’ the effort ‘would have resulted in altering any state’s official vote result.’ 

‘Criminal activity also failed to reach the scale and sophistication necessary to change election outcomes,’ it stated. 

The brief said the office of the Director of National Intelligence assessed Russian activities ‘probably were intended to cause psychological effects, such as undermining the credibility of the election process and candidates.’ 

Obama officials then ‘leaked false statements to media outlets,’ according to Gabbard’s office, claiming, ‘Russia has attempted through cyber means to interfere in, if not actively influence, the outcome of an election.’

Fox News Digital’s Brooke Singman contributed to this report. 


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Ceasefire negotiations between Israel and the Hamas terrorist organization hit a setback Thursday, as Prime Minister Benjamin Netanyahu recalled Israel’s negotiating delegation from Doha following what officials described as a hardening of Hamas’ demands.

‘In light of the response Hamas delivered this morning, it has been decided to recall the negotiating team for further consultations in Israel,’ the Prime Minister’s Office said in a statement. ‘We appreciate the efforts of the mediators, Qatar and Egypt, and the efforts of envoy Steve Witkoff to achieve a breakthrough in the talks.’

According to reports in Israeli media, the terror group is now demanding the release of 200 Palestinians serving life sentences for murdering Israelis, and an additional 2,000 Palestinians detained in Gaza after Oct. 7. That demand significantly exceeds the previous mediator-backed framework – reportedly accepted by Israel – which included the release of 125 life-term prisoners and 1,200 other detainees.

Witkoff announced on X that his team is returning from Doha ‘for consultations after the latest response from Hamas, which clearly shows a lack of desire to reach a ceasefire in Gaza.’ 

He praised the mediators’ efforts but said, ‘Hamas does not appear to be coordinated or acting in good faith.’ Witkoff added, ‘We will now consider alternative options to bring the hostages home and try to create a more stable environment for the people of Gaza,’ calling it ‘a shame that Hamas has acted in this selfish way.’

‘The return of the delegation is not a collapse or a crisis, but the gaps are significant and present across all core issues,’ a senior Israeli official told Channel 12. Another official confirmed to U.S. Middle East envoy Steve Witkoff that Hamas’ updated prisoner exchange terms are ‘unacceptable.’

A joint statement by 25 countries condemning Israel’s conduct in Gaza may have further complicated already fragile ceasefire negotiations, Israeli officials suggested. In response to the condemnation, Israel’s Foreign Ministry issued a sharply worded statement, warning, ‘At these sensitive moments in the ongoing negotiations, it is better to avoid statements of this kind.

‘Israel rejects the joint statement published by a group of countries, as it is disconnected from reality and sends the wrong message to Hamas.’ The ministry added that ‘all statements and all claims should be directed at the only party responsible for the lack of a deal for the release of hostages and a ceasefire: Hamas, which started this war and is prolonging it.’ 

Hostage families expressed deep concern about the breakdown in negotiations. ‘The families are watching with concern as reports emerge about the negotiating team’s return,’ the Hostages and Missing Families Forum said in a statement. ‘Every day that passes endangers the hostages’ chances of recovery and the ability to locate the dead. Another missed opportunity to bring everyone home would be unforgivable – a moral, security, and diplomatic failure.’

The negotiations, which have dragged on for weeks, are part of a proposed U.S.-backed deal involving a 60-day ceasefire in exchange for the release of some 50 remaining Israeli hostages, a phased release of Palestinian prisoners and expanded humanitarian aid to Gaza.

Hamas is also demanding that Israeli troops withdraw to positions held before March 2, when the last ceasefire collapsed, and that the Rafah crossing between Gaza and Egypt reopen in both directions. The group further opposes the newly established U.S.-backed Gaza Humanitarian Fund, demanding that aid distribution return to the previous U.N.-supervised mechanism.

A Hamas official told Reuters the group is insisting on a return to a Jan. 19 protocol for aid entry, and that ceasefire negotiations must include a clause preventing Israel from resuming military operations after the 60-day truce – even if a broader deal is not reached.

At the center of the deadlock is the growing humanitarian crisis. The U.N. and international aid groups warn that hundreds of thousands of people in Gaza face severe food insecurity. It is claimed that civilians in the north have been forced to survive on animal feed and foraged plants, while chaotic aid distributions in the south have repeatedly turned deadly.

In response to mounting pressure, Israel is visibly increasing the pace of aid deliveries. On Thursday, COGAT (Coordinator of Government Activities in the Territories) reported that 70 aid trucks were transferred into Gaza on Wednesday through the Zikim and Kerem Shalom crossings. The shipments, primarily food, were delivered under IDF coordination with the U.N. and humanitarian organizations.

COGAT said more than 150 trucks were collected inside Gaza, but warned that over 800 trucks remain uncollected at the crossings due to logistical breakdowns on the Palestinian side.

The Gaza Humanitarian Foundation (GHF) stated on X that it offered on Wednesday to deliver the U.N.’s tons of aid sitting in Gaza for free. John Acree, GHF’s interim director, said, ‘We’ve seen aid by the U.N. and other organization(s) being piled near the borders but not being delivered.’

Israeli journalist Nadav Eyal reported Thursday that senior defense officials say they’ve been instructed by the political echelon to ‘greatly speed up the entry of humanitarian aid into Gaza’ and to ‘be less concerned with precautions or plans to keep it out of Hamas’ hands.’

As talks stall and military activity resumes, Israeli officials warn that the window for a deal may be closing. ‘There are still significant gaps,’ one source told Channel 12. ‘The negotiations are not over – but time is running out.’

 


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Newmont (TSX:NGT,NYSE:NEM) has deployed drones and a remote-controlled scoop to help rescue three workers trapped underground since Tuesday (July 22) at its Red Chris gold mine in British Columbia.

The incident occurred during work on a non-producing section of the mine’s underground development project.

According to the company, the three contract employees were initially located more than 500 meters beyond the site of the first collapse. They were directed to relocate to a designated refuge chamber before a second fall of ground sealed off the access way and disrupted communication.

“Following the first event, contact was established with the individuals and confirmation was received that they had safely relocated to one of multiple self-contained refuge bays,” Newmont said in a July 23 media statement. “The refuge stations are equipped with adequate food, water and ventilation to support an extended stay.”

The mining company confirmed that it is using aerial drones to assess underground conditions, while a remote-controlled scoop has been deployed from Newmont’s Brucejack mine, also in British Columbia, to begin clearing the estimated 20 to 30 meters of debris obstructing the tunnel.

Communication with the trapped miners remains severed after the second collapse, but the company said the men are believed to be sheltering in a chamber designed to support up to 16 people.

Operations at Red Chris have been suspended to focus entirely on rescue efforts. The company said that it has activated emergency protocols and assembled specialized rescue teams from nearby mine sites.

While the full extent of the damage underground is still being assessed, the use of unmanned equipment is intended to reduce risk to emergency personnel while the area remains geotechnically unstable.

Newmont has not provided an estimated timeline for reestablishing contact or extracting the workers, but emphasized that all available technology and expertise are being brought to bear.

The Red Chris mine, located roughly 80 kilometers south of Dease Lake and more than 1,000 kilometers north of Vancouver, is operated by Newmont under a 70-30 joint venture with Imperial Metals (TSX:III,OTC:IPMLF).

The operation has been producing since 2015, though the incident occurred in a non-producing development zone.

Last year, Red Chris produced approximately 40,000 ounces of gold — making it one of the smaller contributors in Newmont’s global portfolio. The company acquired its majority stake in the mine through its 2023 purchase of Newcrest Mining, which previously managed the asset.

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

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U.S. District Judge James Boasberg will hear from immigration lawyers and the Trump administration in court on Thursday as he weighs new facts and allegations at the heart of one of the biggest immigration cases of President Donald Trump’s second term — setting the stage for another heated court fight.

Boasberg did not immediately signal which motions he would consider during the hearing. 

However, it comes after Boasberg found himself at the center of Trump’s ire and attacks on so-called ‘activist’ judges this year, following his March 15 temporary restraining order that sought to block Trump’s use of the Alien Enemies Act — a 1798 wartime immigration law — to quickly deport hundreds of Venezuelan nationals to El Salvador earlier this year.

Boasberg also ordered all planes bound for El Salvador to be ‘immediately’ returned to U.S. soil, which did not happen. 

His emergency order touched off a complex legal saga that ultimately spawned dozens of federal court challenges across the country — though the one brought before his court on March 15 was the very first — and later prompted the Supreme Court to rule, on two separate occasions, that the hurried removals had violated migrants’ due process protections under the U.S. Constitution.

Boasberg, as a result, has emerged as the man at the center of the legal fallout.

While the order itself has been in a bit of a holding pattern — the U.S. Circuit Court of Appeals for the District of Columbia stayed the order two months ago, when they agreed to review the ruling — Thursday’s hearing could revive the bitterly divisive court fight once more.

Boasberg is expected to consider plaintiffs’ motions to reopen limited discovery, citing new evidence — including a recent U.N. report stating that, according to Salvadoran officials, the U.S. holds sole legal responsibility and custody over migrants transferred to CECOT. Other submissions include a whistleblower report from former Justice Department attorney Erez Reuveni, who worked on the case shortly before his removal.

Trump administration officials have repeatedly excoriated Boasberg as an ‘activist judge’ — a term they have employed for judges who have either paused or blocked Trump’s sweeping policy priorities enacted via executive order. Trump himself floated the idea that Boasberg could be impeached earlier this year— prompting Supreme Court Chief Justice John Roberts to issue a rare public warning.

Tensions between Boasberg and the Trump administration soared to a fever pitch earlier this year after Boasberg in April said he had found probable cause to hold the Trump administration in criminal contempt for failing to return the planes to U.S. soil, in accordance with his emergency order, and said the court had determined that the Trump administration demonstrated a ‘willful disregard’ for his order.

The Trump administration appealed the findings to the U.S. Court of Appeals for the D.C. Circuit.

In June, Boasberg ordered the Trump administration to provide all noncitizens deported from the U.S. to a maximum-security prison in El Salvador to be afforded the opportunity to seek habeas relief in court, and challenge their alleged gang status.

‘Such was the situation into which Frengel Reyes Mota, Andry Jose Hernandez Romero, and scores of other Venezuelan noncitizens say they were plunged on March 15, 2025,’ Boasberg said.

Thursday’s hearing comes amid a flurry of new reports and allegations filed by plaintiffs in the case in an effort to reopen discovery.  


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There are two distinct and clear things happening in American politics today that at first blush appear to be in direct conflict, President Donald Trump has had the best six months of any president in recent memory, and he is losing support in the polls. 

How can this be?

In fact, the way to reconcile Trump’s signature successes with his drop in approval is to understand that the president has expended an enormous amount of political capital, sacrificing support today, in the hope of good results tomorrow.

The achievements of the Trump administration are truly breathtaking when taken as a whole, starting with his central campaign promise, to shut down the southern border.

In a funny way, Trump was too successful on the border for his own political good. Had he cut the number of entries in half by now, it would still have been a positive story for the president, but he brought it to zero, so the issue is all but gone and forgotten, and nobody is getting any credit for it.

Then we have the passage of the ‘big, beautiful bill, the largest tax cut in history packed with big political winners like no tax on overtime and tips, and passed by a tiny GOP majority in Congress.

While that was going on, Trump also attacked Iran’s nuclear facilities, badly damaging them and setting our geopolitical foe’s weapons program back years in a bold and perfectly executed mission.

GOP senator warns Iran

Donald Trump has also unleashed his decades-long desire for higher tariffs to bolster American jobs and manufacturing, and after an all out panic from markets and pundits on ‘Liberation Day,’ back in April, the economy is now humming, largely free of inflation.

Last but not least, Trump, through his rescission package defunded NPR and PBS, something that has been the great white whale of many a conservative for many a year. They said it couldn’t be done, but Trump did it.

The scope, scale and speed of Trump’s triumphs are the good news, but they are always why his polling can get a bit jumpy, which is what we have seen over the past few weeks. 

According to the Real Clear Politics average of polls, Trump has shed about 3.5 points since July 7th — not a drop off a cliff, but not nothing, either. It’s mostly down to how busy he has been.

Trump lays out action plan to defeat China in AI race

Above were listed 5 major accomplishments. There are, to be sure, many voters who love all five, but there are also voters who like 3 or 4 but not the others, and in approval polling the stuff people don’t like is louder than stuff they do.

Two weeks ago on a trip to Texas, I reported on these warning signs, especially around the deportations of illegal aliens without any other criminal record that make many Americans, including some Trump supporters, queasy. 

There is also an isolationist wing of the MAGA movement that hates the Iran strike, and even though its dire warnings of World War III fizzled like a cap gun in a hard rain, that still dinged the numbers.

Likewise, there are still plenty of individuals and industries that strongly dislike the tariffs, even if the economic sky hasn’t fallen. 

A muted market response to Trump

The point here, as Abe Lincoln once put it, is that you can’t please all the people all the time, and when you do as much as Trump has, this quickly, you are sure to displease lots and lots of folks.

The real bet that the Trump administration is making is not on the short-term popularity of any of its top achievements, but rather that a year from now, they will have made the lives of Americans better.

Donald Trump, even with just one term this time around, is committed to leaving our nation a very different place in 2029 than he found it in 2025. To do this requires an all-out assault on institutions from the deep state, to academia, to the media. 

Trump can’t poke as many political bears as he is without catching a few flesh wounds from the claws, but there is no sign of any imminent collapse that could thwart his overall efforts.

For six months, I have argued that Trump had all the runway he needed to put his plans in action. That was true, and he got a lot of planes up in the air, but the runway may be shortening now.

Now, all that is left is to judge the results of the Trumpian whirlwind of the past six months, and find out if this has been political capital well spent.


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