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Opawica Explorations Intersects a 60 Meter Mineralized Zone at its Bazooka Property in the Abitibi Gold Belt

Investing 6 Mins Read

(TheNewswire)

April 17th, 2025 TheNewswire – Vancouver, B.C. Opawica Explorations Inc. (TSXV: OPW) (FSE: A2PEAD) (OTC: OPWEF) (the ‘Company’ or ‘Opawica’), a Canadian mineral exploration company focused on precious and base metal projects in the Abitibi gold belt, provides an update on its 2025 exploration campaign at the Bazooka Property (‘Bazooka’) .

Blake Morgan, CEO and President of the Company, states: ‘We’re excited about the progress of our ongoing drill program at the Bazooka Property. The results so far have given us a strong understanding of the mineralized system, with multiple holes intersecting broad zones of mineralization, including visible gold. We eagerly await the assay results as we continue to drill the deposit.’

Drill hole OP-25-35, with a total depth of 303 metres, intersected a significant 60-metre mineralized zone between 190 m and 250 m. Within this broader interval, a 12-metre section (from 189.8 m to 202.5 m) exhibited strong silicification and sericitization with visible arsenopyrite, with an XRF reading at 196 m of 66 g/t Au . This is followed by a 30.4-metre intermediate zone (202.5 m to 232.9 m) with lower levels of mineralization, followed by a deeper and well mineralized zone (232.9 m to 241.2 m) containing approximately 2% arsenopyrite, with an XRF reading of 234 ppm Au at 249 m.

Between 189.80 m and 202.20 m, the drill hole encountered a yellowish-grey-green rock unit that is intensely silicified and sericitized, with abundant quartz veins and veinlets throughout. A higher concentration of arsenopyrite is observed between 195 m and 196.50 m. An XRF point reading taken at 196 m returned values of 8,514 ppm As, 66 ppm Au, 49 ppm Ni, and 139 ppm Cr.

At 202.20 m -205.50 m is a sericitized sheared Yellowish-green grey rock sericitized shear of veins. The XRF point reading at XRF 204 m: As 47 ppm, Ni 1050 ppm, and Cr 970.

Between 205.50 m and 250 m, the drill hole intersected a fine-grained, greenish-grey rock, possibly containing traces of fuchsite, with an elevated presence of fine arsenopyrite and pyrite mineralization stronger from 235.5 m (2-3%). Moderate silicification is observed throughout the interval, becoming more concentrated from 242 m onward, accompanied by the appearance of small grey quartz veins. The XRF point readings at these various depths are as follows:

  • 219 m: As 398 ppm, Au 10ppm, Ni 797 ppm, and Cr 1986:

  • 234 m: As 872: ppm Au 9 ppm, Ni 792 ppm, and Cr 3424 ppm

  • 243 m: As 792 ppm Au 13 ppm: Ni 650 ppm and Cr 1084 ppm

  • 249 m: As 2.3%, Au 234 ppm: Ni 4129 ppm and Cr 7970 ppm  – (234 g/t Au)

1 Part per million (ppm) = 1 Gram/ton (g/ton)

X-ray fluorescence (XRF) is a non-destructive analytical technique used to determine the elemental composition of materials such as drill cores. XRF analyzers determine the chemistry of a sample by measuring the fluorescent (or secondary) X-ray emitted from a sample when it is excited by a primary X-ray source. We note the results only provide an indication of the amount of minerals present. Certified assaying of the core samples is required to accurately determine the amount of base metal and precious metal mineralization.

Assay core samples are being analysed at ALS Chemex lab of Rouyn-Noranda, 165 Rue Jacques-Bibeau, Quebec (an ISO/IEC 17025:2005 accredited facility). The sampling program is undertaken by Company personnel under the direction of Mr. Yvan Bussieres, P.Eng., A secure chain of custody is maintained in transporting and storing of all samples. The rock samples will undergo fire assays, 1E3 – Aqua Regia – ICPOES and select samples underwent gravimetries.

Samples of mineralization were taken at 0.5-to-1.5-meter intervals, with sample intervals being adjusted to respect lithological and/or mineralogical contacts and isolate narrow veins or other structures that may yield higher grades. The core was split in two separate sections—one half of the core, the other half was sent for analysis.

Mr. Yvan Bussieres, P.Eng., has reviewed and approved the technical content of this news release. The qualified person has been unable to verify the information on the adjacent properties. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the company’s properties

About Opawica Explorations Inc.

Opawica Explorations Inc. is a junior Canadian exploration company with a strong portfolio of precious and base metal properties within the Rouyn-Noranda region of the Abitibi Gold Belt in Québec. The Company’s management has a great track record in discovering and developing successful exploration projects. The Company’s objective is to increase shareholder value through the development of exploration properties using cost effective exploration practices, acquiring further exploration properties, and seeking partnerships by either joint venture or sale with industry leaders.

FOR FURTHER INFORMATION CONTACT:

Blake Morgan

President and Chief Executive Officer

Opawica Explorations Inc.

Telephone: 236-878-4938

Fax: 604-681-3552

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Forward-Looking Statements

This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

This post appeared first on investingnews.com

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Politics

Israeli troops will remain in Gaza buffer zones indefinitely, Defense Minister Katz says

Politics 2 Mins Read

Israeli troops will not leave the buffer zones in Gaza, even after the war ends, according to Israeli Defense Minister Israel Katz. 

On Wednesday, Hamas appeared to reject an Israeli-proposed ceasefire deal that would see the return of nearly a dozen hostages who have been held captive for more than 550 days. Israel resumed combat operations in the strip last month after a previous ceasefire agreement fell apart before Israel and Hamas could reach phase two.

‘Unlike in the past, the IDF is not withdrawing from areas that have been cleared and captured. The [Israeli Defense Forces] IDF will remain in the security zones as a buffer between the enemy and Israeli communities under any temporary or permanent arrangement in Gaza — just as it does in Lebanon and Syria,’ Katz said in a statement on Wednesday.  

The buffer zones that Israel established along the Gaza border make up 30% of the strip, according to the Times of Israel. The outlet also reported that Israeli troops have been working to create the Morag Corridor, which would cut off the southern city of Rafah from Khan Younis.

Hamas reportedly said that any deal that does not have ‘real guarantees for halting the war, achieving full withdrawal, lifting the blockade, and beginning reconstruction will be a political trap,’ according to Reuters.

Since it resumed operations in March, Israel has been condemned by leaders of international institutions who have called for an immediate ceasefire.

U.N. Secretary-General António Guterres said in a statement that he was ‘very concerned’ about the situation and the lack of humanitarian aid going into the strip. Katz confirmed on Wednesday that humanitarian aid was being blocked in order to put pressure on Hamas, which has been accused of stealing aid. 

Israeli U.N. Ambassador Danny Danon condemned Guterres’ statement, saying ‘The U.N. secretary-general has no problem explicitly condemning Israel’s defensive war in Gaza and unequivocally calling for a ceasefire. Yet his statements, once again, fail to mention the hostages and fail to mention Hamas, whose barbaric actions on October 7, 2023, triggered this war.’

‘This war Hamas started will not be over until all of our remaining 59 hostages are returned home from brutal captivity,’ Danon added.

This post appeared first on FOX NEWS

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Controversial defense program tied to DEI-laden contractor could be in crosshairs of DOGE: ‘Poster child’

Politics 6 Mins Read

One of the top defense contractors in the United States, which has a history of pushing diversity, equity and inclusion (DEI), is facing heat over a massive government contract that critics say should be a prime target for Elon Musk’s DOGE efforts. 

The Air Force’s Sentinel program, a massive intercontinental ballistic missile (ICBM) project serving as the successor to the Minuteman III program ensuring the future viability of the land-based leg of America’s nuclear triad, has been mired in controversy and slowdowns as Northrop Grumman was awarded the development contract and the endeavor has gone from a $96 billion program to at least $141 billion in recent years. 

The Pentagon ordered Northrop Grumman to pause development earlier this year due to ‘evolving launch facility requirements’, Defense One reported. Air & Space Forces Magazine reported last year that the intercontinental ballistic missile program survived a Pentagon review, but it was found that the cost overrun jumped from 37% to 81%.

Northrop Grumman, which had not previously designed an ICBM, was awarded a $13 billion contract in September 2020 for full-scale development of the program to replace the Minuteman III, and the Pentagon has estimated that the total cost of developing its new ICBM program could cost up to $264 billion over the next few decades, Bloomberg reported.

The awarding of the contract was controversial in its own right, after Boeing dropped out of the bidding, claiming that the process was rigged against it, Responsible Statecraft reported. 

‘The massive expansion of costs for Northrop Grumman’s Minuteman III program is the case example for why poorly-scoped, blank check programs are a bad idea,’ a senior Republican Congressional official who works on defense policy told Fox News Digital. 

‘This is bad for national security, bad for taxpayers, and Republicans will fix this mess that Biden’s team created,’ the official added.

Questions have also been raised by some in recent years about whether the Sentinel program is even necessary, including at a Congressional Nuclear Weapons and Arms Control Working Group press conference last year, when former Democratic Congressman John Tierney said that Sentinel ‘does not add to our security’ and could ‘actually make us less safe.’

‘When will the blank checks to cover spiraling costs end?’ Tierney said. ‘The Sentinel ICBM program is just the latest in a long list of Pentagon programs that are over budget, behind schedule and of questionable utility.’

Tierney added that he believes the ‘only value’ of recent ICBM development is ‘to the defense contractors who line their fat pockets with large cost overruns at the expense of our taxpayers.’

‘It has got to stop,’ he said. 

An Air Force spokesperson told Fox News Digital that it is taking ‘deliberate’ steps to ensure that the Sentinel program is running as cost-efficiently as possible while enhancing oversight at the same time. ‘We continue to advance the engineering design and maturity of the program with Northrop Grumman, working closely with the company to drive down costs and improve schedule performance,’ the spokesperson added.

The Air Force also pointed to a previous comment from Gen. David Allvin, Air Force chief of staff, during a symposium in March that stressed the importance of the Sentinel program.

‘We own two-thirds of the triad and three-fourths of the nuclear command and control of communications,’ Allvin said. ‘We own the nuclear deterrence. So more Air Force means more nuclear deterrence…We have to have the most reliable, the most safe, the most effective nuclear deterrent. That means sentinel, yes…I believe we need more nuclear deterrence for our nation. It’s a solemn responsibility. It’s not an option.’

Amid the cost overruns and headaches from the ICBM program, Northrop Grumman adopted and promoted an agenda focused on DEI in recent years and was one of several defense contractors that have attempted to scrub their websites of DEI in the wake of the Trump administration’s pledge to rid the government of the ideology. 

Northrop Grumman’s 2023 annual report mentions DEI as ‘vital to our culture and our company’s success. Our ability to leverage the power of our diverse workforce enhances employee engagement and enables us to innovate, perform and deliver on quality, which results in value for our shareholders, customers, and employees.’

The report also touted its minority hiring practices and stated that 25% of its employees are female, 37% people of color, 18% veterans and 8% people with disabilities. 

‘Diversity Has a Home at Northrop Grumman,’ a YouTube video from ClearanceJobs says in a post that features Northrop Grumman employees discussing the diversity of the company. 

‘Northrop’s Sentinel Program is a DOGE poster child,’ a person close to the Trump administration told Fox News Digital. ‘Not only did they practice DEI, the program is ineffective, delayed, and wasting billions of taxpayer money. Musk would have a field day.’

DOGE’s cost-cutting efforts have affected essentially every area of government, including the Defense Department, which recently announced that over $580 million worth of contracts have been canceled as Democrats continue to blast the efforts and make the case that DOGE cuts are detrimental to the country.  

‘I’ve seen it with my own eyes, billions of dollars spent on pricey consulting firms, grants and NGO‘s—the self-serving bureaucrats in Washington DC have found a million different ways to rip-off the American taxpayer,’ special advisor to the United States Agency for Global Media Kari Lake told Fox News Digital. 

‘I’m working very closely with DOGE at the agency President Trump asked me to oversee. Our DOGE team is not political, they are practical. They know that it’s not practical for the U.S. government to continue spending the way it has been. Our country won’t survive unless we cut back right now, and the hard-working men and women across this country support that.’

In a statement to Fox News Digital, a spokesperson for Northrop Grumman touted recent progress in the program.

‘We continue to make substantial progress on the Sentinel Weapon System,’ the spokesperson said. ‘On March 6, we completed the missile’s stage one static fire test, the latest of many test events that validate the rocket motor’s performance and digital design. We continue to mature the design and reduce risk as we prepare for production and deployment of this essential national security capability.’

Regarding DEI, the spokesperson said, ‘We have reviewed our policies and processes and continue to take the steps necessary to ensure compliance with the orders for the work entrusted to us. Northrop Grumman is committed to our customers’ missions, delivering technologies they need to deter threats, prevail in conflicts, and strengthen national security. Underpinned by our values, we hire, promote, and pay based on merit and performance resulting in the best team to deliver for our customers.’

This post appeared first on FOX NEWS

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Politics

Top health official accuses RFK Jr’s agency of ‘censorship’

Politics 2 Mins Read

A top official at the National Institutes of Health announced his abrupt retirement from the agency after 21 years, complaining about censorship under the leadership of HHS Sec. Robert F. Kennedy Jr.

NIH senior investigator Kevin Hall complained that he ‘experienced censorship’ during his investigation of ultra-processed food addiction.

‘After 21 years at my dream job, I’m very sad to announce my early retirement from the National Institutes of Health. My life’s work has been to scientifically study how our food environment affects what we eat, and how what we eat affects our physiology,’ Hall wrote in a lengthy post on social media.

‘Lately, I’ve focused on unraveling the reasons why diets high in ultra-processed food are linked to epidemic proportions of chronic diseases such as diabetes and obesity. Our research leads the world on this topic,’ he continued.

Hall said that he was initially encouraged by Kennedy’s public statements about chronic illness and problems with America’s food systems. However, he says he ‘experienced censorship in the reporting of our research because of agency concerns that it did not appear to fully support preconceived narratives of my agency’s leadership about ultra-processed food addiction.’

‘I wrote to my agency’s leadership expressing my concerns and requested time to discuss these issues, but I never received a response,’ Hall added.

The NIH did not immediately respond to a request for comment from Fox News Digital.

Hall’s claims come days after Kennedy visited FDA employees last week and reportedly told them that ‘the Deep State is real.’

‘President Trump always talks about the Deep State, and the media, you know, disparages him and says that he’s paranoid,’ Kennedy said according to Politico, which reported it obtained an audio recording and transcript of the secretary’s remarks. ‘But the Deep State is real. And it’s not, you know, just George Soros and Bill Gates and a bunch of nefarious individuals sitting together in a room and plotting the, you know, the destruction of humanity.’

According to multiple reports, Kennedy pointed the finger at ‘institutional pressures.’

Kennedy also reportedly said the FDA had become a ‘sock puppet’ of the industries it was meant to regulate. NBC News reported that Kennedy said that this was the case with ‘every agency,’ not just the FDA.

This post appeared first on FOX NEWS

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Top Pentagon official John Ullyot to resign at end of week: report

Politics 2 Mins Read

Former Trump national security aide and Pentagon press secretary John Ullyot reportedly will resign at the end of the week. 

His sudden departure comes after Sean Parnell took over the role of the Pentagon’s chief spokesperson in February. 

‘I made clear to Secretary [Pete] Hegseth before the inauguration that I was not interested in being number two to anyone in public affairs,’ Ullyot told Politico, reportedly adding that he had offered to help on an acting basis for two months. 

‘Last month, as that time approached, the secretary and I talked and could not come to an agreement on another good fit for me at DOD. So I informed him today that I will be leaving at the end of this week,’ Ullyot said. 

The Department of Defense did not immediately respond Thursday to a request for comment from Fox News Digital. 

During the first Trump administration, Ullyot served as the spokesperson for the National Security Council and was an assistant secretary for public and intergovernmental affairs at the Department of Veterans Affairs. 

The Marine Corps veteran also served as a senior adviser in President Donald Trump’s 2016 election campaign. 

Ullyot’s resignation will come as three Pentagon officials have been placed on administrative leave this week as part of a leak investigation. 

Colin Carroll, chief of staff to Deputy Defense Secretary Stephen Feinberg, was put on leave on Wednesday, according to Politico. 

The day before, Darin Selnick, the deputy chief of staff for Defense Secretary Pete Hegseth, and Hegseth aide Dan Caldwell were removed. 

Reuters reported that Caldwell was placed on leave for an ‘unauthorized disclosure,’ as part of an investigation into leaked Pentagon documents. 

The probe was announced last month and concerned itself over ‘recent unauthorized disclosures of national security information.’ 

Fox News’ Andrea Margolis and Jennifer Griffin contributed to this report. 

This post appeared first on FOX NEWS

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Scoop: Republican National Committee showcases record fundraising as party builds 2026 war chest

Politics 2 Mins Read

The Republican National Committee (RNC) is quickly coming out of the gate when it comes to fundraising.

The RNC reports hauling in $56.1 million during the January-March first quarter of 2025 fundraising as the national party committee builds resources for next year’s midterm elections, when it will defend its majorities in the House and the Senate.

The RNC, which shared its figures first with Fox News on Thursday, said the haul was a record for the first quarter of a non-election year.

‘The RNC is working hand-in-glove with President Trump and the White House to replicate his historic success in 2024,’ RNC Chair Michael Whatley said in a statement.

And looking ahead to next year’s midterms, Whatley said that ‘we’re building up our war chest to expand Republican majorities in 2026 and ensure the President has all the tools he needs to Make America Great Again. I couldn’t be more excited to keep up what we’ve been doing with Vice President Vance as our finance chair.’

As Fox News reported last month, Vance was named the RNC’s finance chair. Vance, who is seen as the front-runner for the 2028 GOP presidential nomination in the race to succeed the term-limited Trump, is the first sitting vice president to serve as the finance chair of a national party committee.

Vance, in a statement, highlighted that ‘the RNC has already accomplished great work in its mission to build upon President Trump’s historic victory this past November.’

‘Republicans have an incredible opportunity looking to 2026, where we can continue on our strong momentum, further grow our majorities and advance President Trump’s America First agenda,’ the vice president added. ‘I’m honored to help spearhead this effort and look forward to the work that lies ahead.’

The rival Democratic National Committee had yet to announce its first-quarter fundraising figures at the time this story was posted.

The DNC had raised $24.3 million through the end of February, compared to $35.2 hauled in by the RNC.

This post appeared first on FOX NEWS

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Business

Temu slashes U.S. ad spending, plummets in App Store rankings after Trump China tariffs

Business 4 Mins Read

Chinese online retailer Temu, whose “Shop like a billionaire” marketing campaign made its way to last year’s Super Bowl, has dramatically slashed its online ad spending in the U.S. and seen its ranking in Apple’s App Store plunge following President Donald Trump’s sweeping tariffs on trade partners.

Temu, which is owned by Chinese e-commerce giant PDD Holdings, had been on an online advertising blitz in recent years in a bid to attract deal-hungry American shoppers to its site. With hefty spending on TV ads as well across Facebook, the company promoted clothing, jewelry, home goods and electronics at bargain basement prices.

The strategy was so effective that Temu topped Apple’s list of the most downloaded free apps in the U.S. for the past two years. Downloads of Temu on Apple’s App Store have fallen 62% in recent days, according to data from SimilarWeb, a digital data and analytics company. Ads for 50-cent eyebrow trimmers and $5 t-shirts that used to blanket Google search results and Facebook feeds have all but disappeared.

President Trump’s tariffs have upended Temu’s business model, along with its advertising strategy. Packages shipped from China are now subject to a tariff rate of 145%, while the de minimis provision, which allows shipments worth less than $800 to enter the country duty-free, is set to go away on May 2.

Temu and Shein, a fast-fashion marketplace with ties to China, plan to raise their prices in response to the tariffs. Both companies posted notices to their websites in recent days that warned they’ll be raising prices late next week.

“Due to recent changes in global trade rules and tariffs, our operating expenses have gone up,” Temu said on its site. “To keep offering the products you love without compromising on quality, we will be making price adjustments starting April 25, 2025.”

Sellers on Amazon’s third-party marketplace, many of whom source their products from China, have said they’re considering raising prices as they reckon with higher costs from the tariffs. Many businesses on TikTok Shop, the social media app’s marketplace, also count on Chinese manufacturers for their items.

Amazon launched a competitor to Temu last November, called Amazon Haul, which features items under $20 that are largely from China.

The Temu app is now No. 69 in a list of the top free apps in the U.S., after consistently ranking in the top 10, according to data from Sensor Tower. Shein is currently at 42, down from 15 last month. PDD’s shares that trade in the U.S. have plummeted 22% this month, compared to the Nasdaq’s 6% drop. Shein is privately held.

Rival Chinese retailers have subsequently risen to the top of the app store ranks, including Beijing-based wholesaler DHgate, which surged to the No. 2 top free iPhone app in the U.S., and Alibaba’s Taobao, which ranked No. 7. Bloomberg reported on Tuesday that viral videos promoting their cheap products have spurred the download frenzy.

A separate analysis by SimilarWeb showed Temu’s paid traffic, or search, display and social media advertising that drove visits to its website, has dropped 77% since April 11. Temu’s paid traffic previously outpaced nonpaid traffic to its website by 2 1/2 times, Ben Parkes, a consumer goods and retail analyst at Similarweb, said in an interview.

Marketing firm Tinuiti found that 20% of U.S. Google Shopping ad impressions were bought by Temu on April 5. A week later, that number had fallen to zero. By comparison, Shein’s impressions remained at 17% on April 12, while 60% of impressions were bought by Amazon.

Representatives from Temu and Shein didn’t immediately respond to requests for comment.

Temu was previously one of Meta’s largest advertisers, but it appears to have dramatically scaled back its spending on the platform. As of Wednesday, Temu is running six ads across Meta platforms in the U.S., a review of Meta’s ad library shows. Temu is running approximately 27,000 ads across Meta sites and apps globally, particularly in Europe and the U.K.

That could be troublesome for Meta’s advertising business, which has gotten a significant boost from the discount retailer. Advertising analyst Brian Wieser at Madison and Wall estimated that more than $7 billion of Meta’s $132 billion in ad revenue in 2023 came from China. Meta is scheduled to report first-quarter results on April 30.

E-commerce analyst Juozas Kaziukenas said he expects Temu to turn its ads back on in the U.S. at some point, but that the company appears to be shifting its dollars to other markets in the interim.

“It doesn’t mean Temu usage has dropped as significantly as the app did,” Kaziukenas said in an email. “But it means that new user acquisition is gone.”

This post appeared first on NBC NEWS

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Business

OpenAI in talks to pay about $3 billion to acquire AI coding startup Windsurf

Business 2 Mins Read

OpenAI is in talks to pay about $3 billion to acquire Windsurf, an artificial intelligence tool for coding help, CNBC has confirmed.

Windsurf, formerly known as Codeium, competes with Cursor, another popular AI coding tool, as well as existing AI coding features from companies like Microsoft, Anthropic and OpenAI itself.

Bloomberg was first to report on the potential deal, which CNBC confirmed with a person familiar with the matter who asked to remain anonymous since the talks are ongoing.

OpenAI is rushing to stay ahead in the generative AI race, where competitors including Google, Anthropic and Elon Musk’s xAI are investing heavily and regularly rolling out new products. Late last month, OpenAI closed a $40 billion funding round, the largest on record for a private tech company, at a $300 billion valuation.

OpenAI on Wednesday released its latest AI models, o3 and o4-mini, which it said are capable of “thinking with images,” meaning they can understand and analyze a user’s sketches and diagrams, even if they’re low quality.

Should a deal take place with Windsurf, it would be by far OpenAI’s biggest acquisition. The company has made several smaller deals in the past, including the purchase last June of analytics database provider Rockset and video collaboration platform Multi. In 2023, OpenAI bought Global Illumination, which had been “leveraging AI to build creative tools, infrastructure, and digital experiences,” according to a blog post when the deal was announced. Terms weren’t disclosed for any of those transactions.

Windsurf is among the tools, alongside Cursor and Replit, that developers have flocked to in recent months to “vibe code,” a term that refers to having AI models quickly assemble code for new software. Andrej Karpathy, a former OpenAI co-founder, coined the term in a post on X in February. Earlier this month Microsoft, whose Visual Studio Code text editor is widely used among programmers, announced an Agent Mode feature with similar capability.

The startup’s investors include Founders Fund, General Catalyst, Greenoaks and Kleiner Perkins. TechCrunch reported in February that Windsurf was raising a funding round at a $2.85 billion valuation.

— CNBC’s Jordan Novet contributed to this report.

This post appeared first on NBC NEWS

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Stock

Is This the Confidence Trap That Could Wreck Your Retirement Portfolio?

Stock 4 Mins Read

If last weekend’s tech tariff exemptions teach us anything, it’s this: trying to make near-term market forecasts based on tariff assumptions is a fool’s errand.

But that leaves a big question for active investors near or in retirement: How do you make smart decisions when the market’s running on chaos?

On Monday morning, when all three broader U.S. stock market indexes were in the green, I pulled up the new StockCharts Market Summary page and glanced at the Keller Market Models panel to check the S&P 500’s short-term, medium-term, and long-term trend positions. According to this model’s forecast, the S&P 500, despite its short- and medium-term declines, still has its uptrend intact. If this reading of the market environment remains as is, then perhaps it’s time to look for signs of a major reversal to the upside.

But what if the bullish reversal isn’t broad-based? What if it moves by sectors instead?

One way to check is by looking at the Bullish Percent Indexes (BPIs) within the Market Summary. Here’s what it showed on Monday:

FIGURE 1. BULLISH PERCENT INDEXES.  Looking at the sectors—gold miners isn’t a sector—Consumer Staples and Utilities were the two that showed signs of hope.

The BPI is a breadth indicator that tells you the percentage of stocks (within a given index) generating Point & Figure Buy Signals.

An early warning bullish alert is triggered when the BPI is below 30% and then forms a new column of X’s (rises). On Monday, the only two sectors flashing these alerts were Consumer Staples (42.11%) and Utilities (45.16%). However, there’s a less obvious issue here. If the S&P 500’s long-term uptrend holds and eventually pulls the short- and medium-term trends higher, the leadership matters.

Defensive sectors don’t typically drive or sustain bull markets. These sectors are where investors go when they’re playing it safe, not when they are betting on growth. In contrast, sectors like Technology or Consumer Discretionary usually take the lead in a true risk-on environment.

Take a look at the Consumer Staples BPI chart.

FIGURE 2. CONSUMER STAPLES BPI. Watch how price reacts to the support (magenta lines) and resistance ranges (blue-shaded area).

Using the Consumer Staples Select Sector SPDR Fund (XLP) as a sector proxy, watch how its price reacts to key near-term resistance levels (marked by magenta lines) and the support zone (blue-shaded area). The ZigZag overlay highlights swing highs and lows, helping you spot the near-term trend: higher highs and higher lows (HH + HL) signal an uptrend, while lower highs and lower lows (LH + LL) indicate a downtrend. While the BPI for staples is flashing a bull alert, it is price action that ultimately defines the trend and provides the setup for whether to act or sit tight.

Now, switch over to the Utilities sector BPI chart, using the Utilities Select Sector SPDR Fund (XLU) as a proxy.

FIGURE 3. UTILITIES SECTOR BPI. Pay attention to the lower side of the price channel.

While XLU faces a sideways range scenario similar to XLP, utilities are managing to make lower lows. This is why I used Price Channels here, whereas, in the Consumer Staples example, I overlaid a ZigZag line—the channels can better illustrate this subtle detail.

Does this indicate relative weakness in XLU vs. XLP? Possibly, but it depends on whether XLU’s price swings can penetrate the upper channel (resistance) while staying above the lower channel (support), which it previously failed to do.

But to answer the question of relative performance, this PerfCharts shows that XLU has been outperforming XLP—and both have outpaced the S&P 500—over the last year.

FIGURE 4. COMPARING THE PERFORMANCE OF THE S&P 500, XLU, & XLP. Is the Utilities sector overbought or taking a breather?

Whether Utilities have room for further upside is largely dependent on the broader market environment, which, for now, remains unpredictable. So keep an eye on the technical levels instead.

What to Do Now

Defensive sectors don’t lead bull markets; they are the sectors where investors hide out during turbulence. Right now, the market feels less like a cycle and more like a geopolitical chess match, where the moves are unpredictable, unorthodox, and hard to price in. If you decide to go “defensive,” Consumer Staples and Utilities may make sense, but only if the price action supports your goals, and likely only as a short-term play.

That said, if you’re nearing retirement, it’s just as important to keep capital on the sidelines—ready to go on “offense” when the broader bull market kicks back in.

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Jindalee Lithium

Investing 11 Mins Read

Investor Insight

With compelling economic metrics demonstrated through its new prefeasibility study, Jindalee Lithium’s McDermitt Project presents a strong case for investors to gain exposure to this critical mineral and participate in the global clean energy transition.

Overview

Jindalee Lithium (ASX:JLL,OTCQX:JNDAF) is an Australia-based pure-play US lithium company focused exclusively on its 100-percent-owned McDermitt Lithium Project, currently one of the largest lithium deposits in the US, boasting a resource of 21.5 million tons (Mt) of lithium carbonate equivalent (LCE).

Backed by a newly released (November 2024) prefeasibility study (PFS) demonstrating very compelling economics, the McDermitt Project is poised to play a crucial role in meeting North America’s growing lithium demand for the lucrative battery value chain.

As the US continues to transition to energy independence, demand for lithium is expected to exponentially increase. Jindalee’s McDermitt Project, located in southeast Oregon, is a game-changer for North American lithium supply, critical for meeting the demands of the fast-growing electric vehicle, energy storage and defense sectors.

McDermitt also stands to significantly benefit from the US government’s policies and incentives to boost domestic supply of critical resources. In fact, in a move that signifies the US government’s support of the McDermitt Lithium Project, the US Department of Energy’s Ames National Laboratory signed a Cooperative Research and Development Agreement with Jindalee’s subsidiary HiTech Minerals to develop cutting-edge extraction methods for the McDermitt Project. The Ames National Laboratory spearheads the DOE’s Critical Materials Innovation Hub.

Key milestones in the US lithium resource space also provide significant insights into the future prospects for Jindalee’s project. Lithium Americas (TSX:LAC), for instance, has received a total of US$945 million investment from General Motors, which will fund the development, construction and operation of the Thacker Pass project in Humboldt County, Nevada. In October 2024 LAC closed a $2.3 billion loan from the US Department of Energy and in April 2025 announced the Final Investment Decision for Thacker Pass following a $250 million investment from Orion Resource Partners.

Another lithium resource developer in Nevada, Australia-based Ioneer (ASX:INR) has closed a US$996 million loan guarantee from the US Department of Energy to finance the development of its flagship Rhyolite Ridge lithium-boron project.

The US government has taken further action to bolster domestic critical mineral production. On 20 March 2025, President Trump issued a significant executive order titled ‘Immediate Measures to Increase American Mineral Production’, underscoring the urgency and strategic imperative of increasing domestic supply chains for critical minerals. This order builds on previous initiatives by fast-tracking the permitting processes, prioritizing access to mineral-rich federal lands, clarifying regulatory frameworks, and mobilizing substantial financial resources – including Defense Production Act (DPA) funds – towards domestic mineral projects.

As one of the largest lithium resources in the US and situated on federal lands, Jindalee’s McDermitt Lithium Project stands to potentially benefit from these accelerated permitting processes and enhanced government support mechanisms. The clear commitment demonstrated by the US administration highlights the critical strategic advantage of domestically located mineral assets such as McDermitt, reinforcing its importance in securing robust domestic supply chains, essential for energy security

These are just a few examples of current market dynamics that point to a rapidly accelerating lithium resource development in the US.

An experienced management team, with the right blend of experience and expertise in geology, corporate administration and international finance, leads Jindalee to fully capitalize on the potential of its assets.

Company Highlights

  • Jindalee Lithium is focused on its wholly owned flagship McDermitt Lithium Project, one of the largest lithium deposits in the US.
  • McDermitt’s new prefeasibility study shows strong project economics, including a US$3.23 post-tax NPV8 based on the first 40 years of a 63 year-year mine life.
  • Jindalee is committed to strengthening the North American critical minerals supply chain by reducing US reliance on foreign lithium, thereby enhancing energy security.
  • The company’s wholly owned US subsidiary HiTech Minerals Inc, has executed a strategic Cooperative Research and Development Agreement (CRADA) with Ames National Laboratory, which leads the US Department of Energy’s (DOE) Critical Materials Innovation (CMI) Hub.
  • The company’s McDermitt deposit is sediment-hosted, an emerging style of lithium deposit with the potential to be a large scale, long-life, low-cost source of lithium.
  • Ideally positioned to benefit from US administration’s push to increased domestic mineral production via permitting reformed increased funding.
  • An experienced management team leads Jindalee towards capitalizing on the potential of its assets.

Key Project

McDermitt Lithium Project Economics

The economic metrics revealed in the PFS paint a compelling picture of the McDermitt Lithium Project’s potential:

Production Capacity: The Project is set to produce 1.8 Mt of battery-grade lithium carbonate over its first 40 years, with an annual output forecast of 47,500 tons per annum (tpa) in the initial 10 years, tapering to 44,300 tpa over the first 40 years.

Financial Metrics: The Project boasts a net present value (NPV) of US$3.23 billion at an 8 percent discount rate, with an internal rate of return (IRR) of 17.9 percent. These figures underscore the Project’s strong economic viability.

Payback Period: Investors can expect a payback period of less than five years, a relatively short timeframe for a project of this magnitude.

Break-even Price: The break-even NPV price is approximately US$14,600/t of lithium carbonate, providing a buffer against market fluctuations.

The PFS estimates a total project cost of US$3.02 billion, which includes a prudent 21 percent contingency margin. This substantial investment is balanced by impressive profitability projections, including an EBITDA margin of 66 percent generating post-tax free cash flow of US$6.6 billion during the first decade of operations. With a pre-tax net operating cashflow margin of 17 percent at current spot prices, McDermitt shows strong cash generation potential.

These financial indicators suggest that McDermitt is not only economically viable but potentially highly profitable, positioning it as an attractive prospect for investors and strategic partners alike.

Project Overview

The McDermitt Project is located in Malheur County on the Oregon-Nevada border and is approximately 35 kilometres west of the town of McDermitt. The 100-percent-owned asset covers 54.6 square kilometres of claims at the northern end of the McDermitt volcanic caldera.

The Project is characterized by its unique sedimentary lithium deposits, primarily composed of lithium-bearing clays, a geological formation that sets McDermitt apart from many other lithium projects worldwide. This sedimentary nature of the deposit offers several advantages:

  • Consistent grade distribution throughout the ore body
  • Potential for large-scale, low-cost mining operations
  • Amenability to environmentally friendly extraction methods

The lithium-rich clays at McDermitt are part of a broader geological context that includes volcanic tuffs and sedimentary rocks. This geological setting is indicative of a complex depositional history, which has resulted in the concentration of lithium in economically viable quantities.

The 2023 mineral resources estimate (MRE) for the McDermitt Project contains a combined indicated and inferred mineral resource inventory of 3 billion tons at 1,340 parts per million (ppm) lithium for a total of 21.5 Mt LCE at 1,000 ppm cut-off grade.

Project Highlights:

  • Rare Sediment-hosted Lithium Deposits: The McDermitt asset supports low-cost mining operations due to its flat-lying sediments. This type of lithium deposit is amenable to low-cost mining operations, while still producing excellent metallurgical results.
  • A 62 percent resource increase in early 2023: Compilation of the 2022 drilling results saw the estimated indicated and inferred resources at McDermitt increase to 3 billion tons at 1,340 ppm lithium, a 62 percent increase in contained lithium.
  • Fluor recommended processing route: In March 2023, US engineering group Fluor reviewed all testwork undertaken at McDermitt and recommended beneficiation and acid leaching as the optimal processing route.
  • Completion of the PFS outlines large scale, long life and low cost source of American made battery grade lithium chemicals (November 2024)

Management Team

Ian Rodger – Chief Executive Officer

Ian Rodger is a qualified mining business executive with almost 15 years of experience in various roles including as a mining engineer for Rio Tinto across two large greenfield mine developments, before successfully transitioning into mining corporate finance where he held Executive and Director positions at RFC Ambrian overseeing origination and management of numerous mandates across a range of corporate advisory roles. Rodger was the project director for Oz Minerals (ASX:OZL) where he made significant contributions to successfully define the value potential of the West Musgrave nickel/copper province through the delivery of a portfolio of growth studies. Most notably, he led technical, market and partnership development workstreams, successfully confirming value potential for producing an intermediate Nickel product for the battery value chain.

Rodger holds a Bachelor of Mining Engineering from the University of Queensland, a Masters of Mineral Economics from Curtin University and is also a graduate of the Australian Institute of Company Directors and member of the Australasian Institute of Mining and Metallurgy.

Lindsay Dudfield – Executive Director

Lindsay Dudfield is a geologist with over 40 years of experience in multi-commodity exploration, primarily within Australia. He held senior positions with the mineral divisions of Amoco and Exxon. In 1987, he became a founding director of Dalrymple Resources NL and spent the following eight years helping acquire and explore Dalrymple’s properties, leading to several greenfield discoveries. In late 1994, Lindsay joined the board of Horizon Mining NL (Jindalee Lithium’s predecessor) and has been responsible for managing Jindalee Lithium since inception. Lindsay is a member of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists, the Geological Society of Australia and the Society of Economic Geologists. He is also a non-executive director of Jindalee spin-out companies Energy Metals (ASX:EME), Dynamic Metals (ASX:DYM) and Alchemy Resources (ASX:ALY).

Wayne Zekulich – Non-executive Chair

Wayne Zekulich was appointed to the board as Chair on 1 February 2024. He holds a Bachelor of Business and is a fellow of the Institute of Chartered Accountants. Zekulich is a consultant and non-executive director who has substantial experience in advising, structuring and financing transactions in the infrastructure and resources sectors. He was previously the head of Rothschild in Perth, chief financial officer of Gindalbie Metals Limited, chief development officer of Oakajee Port and Rail and a consultant to a global investment bank. Currently, he is chair of Pantoro (ASX:PNR) and non-executive director of the Western Australian Treasury Corporation. In the not-for-profit sector, he is the past chair of the Lester Prize and is a mentor in the Kilfinan program.

Darren Wates – Non-executive Director

Darren Wates is a corporate lawyer with over 23 years of experience in equity capital markets, mergers and acquisitions, resources, project acquisitions/divestments and corporate governance gained through private practice and in-house roles in Western Australia. Wates is the founder and principal of Corpex Legal, a Perth-based legal practice providing corporate, commercial and resources related legal services, primarily to small and mid-cap ASX listed companies. In this role, he has provided consulting general counsel services to ASX listed company Neometals (ASX:NMT), having previously been employed as legal counsel of Neometals. Wates holds Bachelor’s degrees in Law and Commerce and a Graduate Diploma in Applied Finance and Investment.

Paul Brown – Non-executive Director

Paul Brown has over 23 years of experience in the mining industry, most recently with Mineral Resources (ASX:MIN) where he was chief executive – lithium, and chief executive – commodities. Brown has held senior operating roles with Leighton, HWE and Fortescue (ASX:FMG) and has a strong track record in technical leadership, project/studies management, and mine planning and management. Brown is currently CEO of Core Lithium (ASX:CXO). He holds a Master in Mine Engineering.

Brett Marsh – VP Geology and Development (US)

Brett Marsh is an AIPG certified professional geologist and a registered member of the Society for Mining, Metallurgy and Exploration (SME) with over 25 years of diverse mining and geological experience. He has worked for and held senior leadership roles for Kastan Mining, Luna Gold, Kiska Metals, Newmont, Freeport-McMoRan, Phelps Dodge, ASARCO and consulted to deliver numerous NI 43-101 technical reports. Marsh has demonstrated the ability to deliver results in culturally diverse and geographically difficult environments, such as Brazil, Peru, Chile, Democratic Republic of Congo, Ghana, Tanzania, Indonesia, Australia, and has also worked in remote areas of Alaska. He has managed all phases of the mining lifecycle including greenfield and brownfield exploration, project development (including preliminary economic assessments, pre-feasibility and feasibility), project construction, mine operations, and environmental. He successfully led multi-cultural teams to develop business processes and implementation plans for many mine development and operational projects.

This post appeared first on investingnews.com

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