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Pan American Silver (TSX:PAAS,NYSE:PAAS) has entered into a definitive agreement to acquire MAG Silver (TSX:MAG,NYSEAMERICAN:MAG) in a transaction valued at approximately US$2.1 billion, further cementing its position as a top-tier silver producer in the Americas.

The acquisition will bring MAG’s 44 percent stake in the high-grade Juanicipio silver and gold mine in Mexico into Pan American’s portfolio, expanding the company’s exposure to low-cost, high-margin silver production.

Under the deal, MAG shareholders will receive a mix of US$500 million in cash and 0.755 Pan American shares for each MAG share held — a 21 percent premium based on closing prices as of May 9.

Upon the deal’s closing, expected later this year pending regulatory approvals, MAG shareholders will own roughly 14 percent of Pan American on a fully diluted basis.

Pan American CEO Michael Steinmann called the deal “transformational’ in the company’s Sunday (May 11) press release, citing Juanicipio’s strong production profile and future exploration potential.

‘Our acquisition of MAG brings into Pan American’s portfolio one of the best silver mines in the world,’ he said.

‘Juanicipio is a large-scale, high-grade, low-cost silver mine that will meaningfully increase Pan American’s exposure to high margin silver ounces. Furthermore, we see future growth opportunities through the significant exploration potential at Juanicipio as well as MAG’s Deer Trail and Larder properties,’ Steinmann continued.

MAG President George Paspalas echoed this sentiment, noting that the transaction delivers immediate value and long-term upside through continued exposure to Juanicipio within Pan American’s diversified asset base.

Juanicipio, located in Mexico’s prolific Zacatecas district, processed 1.33 million metric tons of ore in 2024, producing 18.6 million ounces of silver and 39,029 ounces of gold — up over 10 percent from 2023.

Operated by Fresnillo (LSE:FRES,OTC Pink:FNLPF), which owns the remaining 56 percent stake, the mine posted an average silver head grade of 468 grams per metric ton and is set to deliver up to 16.7 million ounces of silver in 2025.

Pan American’s 2024 output totaled 21.1 million ounces of silver and 892,000 ounces of gold, in line with guidance.

The company has operations across seven countries, with its key assets including the La Colorada mine in Mexico and the Jacobina gold mine in Brazil. Pan American ended last year with US $887.3 million in cash and short-term investments, bolstered by its recent divestment of the La Arena mine in Peru.

News of the deal sent shares for both companies higher in pre-trading hours on Monday (May 12).

As of 9:13 a.m EST, Pan American shares were up 6.5 percent from the previous day to trade for US$27.21, while MAG shares had seen a 6.07 percent uptick over the same period, trading for C$23.58.

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

This post appeared first on investingnews.com

From May 11 to 17, world leaders in blockchain will gather in Toronto for Canada Crypto Week, a series of events highlighting the evolution of digital finance and the Web3 economy.

In focus this year are deep dives into pressing topics like regulation, tokenization, decentralized finance (DeFi), the future of Web3 infrastructure and how artificial intelligence (AI) will transform the crypto landscape.

Also on the agenda is Canada’s growing role in the global crypto conversation.

These events will feature keynote speakers, regulatory panels and technology presentations from industry leaders at the forefront of innovation. Be sure to follow our updates this week as they unfold.

What to expect at Blockchain Futurist and Consensus

The Blockchain Futurist Conference will kick off with a virtual welcome from TRON founder Justin Sun and a panel on global Web3 regulation, with representatives from the Digital Chamber and Hong Kong Monetary Authority.

The morning agenda includes a presentation on tokenization by IHodlLife founder CEO Tristan Schroeder, and a fireside chat about Canada’s stablecoin landscape. In addition, Ethereum co-founder and Decentral founder Anthony Di Iorio will deliver a keynote address on the blockchain industry’s evolution.

Morning sessions at the Blockchain Futurist Conference will also cover security in crypto exchanges, token utility and Canadian regulatory perspectives, featuring representatives from Kraken and Convoy Finance.

Consensus, CoinDesk’s flagship blockchain and Web3 conference, will feature over 500 speakers, including notable figures such as Kevin O’Leary, Dave Portnoy and Coinbase Canada CEO Lucas Matheson.

Attendees can expect a diverse range of programming across multiple stages, covering topics like Bitcoin mining, AI integration and digital asset wealth management.

The conference will also host the CoinDesk PitchFest, showcasing early stage Web3 startups, and provide ample networking opportunities for professionals in the crypto and blockchain industries.

Key Canada Crypto Week topics

For investors, Canada Crypto Week is a snapshot of where the industry is headed and where opportunities may lie.

With regulators, entrepreneurs and developers sharing various stages, the events offer rare insight into how the rules, tools and infrastructure of tomorrow are being shaped today.

As institutional interest in crypto grows and traditional finance increasingly integrates blockchain solutions, conferences like these are becoming valuable barometers of market sentiment and direction.

Here are a few topics that will be highlighted:

1. Regulation

From both a domestic and international lens, regulation will be a central theme. Canada’s evolving approach of balancing innovation with consumer protection will be explored in depth.

2. Tokenization

As tokenization gains traction in everything from real estate to traditional securities, this year’s presentations will spotlight its practical applications and the tech needed to support mainstream adoption.

3. The Future of Web3

Blockchain Futurist will bring builders together to discuss what’s next for the decentralized internet, covering everything from scalability to mass adoption hurdles.

Stay tuned for our coverage

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

This post appeared first on investingnews.com

John Feneck, portfolio manager and consultant at Feneck Consulting, shares his updated outlook for gold and silver prices, outlining key support and resistance levels.

He also discusses precious metals and critical minerals stocks that he’s watching.

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

This post appeared first on investingnews.com

White Cliff Minerals Limited (“WCN” or the “Company”) (ASX: WCN; OTCQB: WCMLF) is pleased to announce further assay results from the recent reverse circulation drilling campaign at the Company’s 100% owned Rae Copper Project in Nunavut, Canada.

  • Further assays from Danvers confirm a shallow, high grade copper system that remains open at depth and along strike
  • Drilling continues to prove, previously unknown and untested, extensions to high grade mineralisation
  • Highlights from DAN25002:
    • 63m @ 2.23% Cu & 7.1g/t silver (Ag) from 9.14m, including a high-grade intercept of 15m @ 5% Cu & 16.9g/t Ag from 18.29m
  • DAN25004 returned two significant copper intervals:
    • 38m @ 1% Cu & 1.89g/t Ag from 7.62m, and
    • 72m @ 1.08% Cu & 4.22g/t Ag from 62.48m, including a high-grade intercept of 14m @ 2.32% Cu from 106.68m
  • Pre collar drilling at Hulk is complete, ready for an upcoming diamond drilling campaign
  • The Company is advancing discussions with its contracting partners to undertake targeted airborne geophysical surveys at Danvers across the 9.1km target fault zone and to also utilise the proven down hole electromagnetic survey across the broader Rae project which will support and help target these future campaigns
  • Further assays to come pending release from the laboratory

“Assays from Rae continue to exceed expectations: 175m @ 2.5% Cu, 58m @ 3.08% Cu, 52m @ 1.16% Cu and now further significant intercepts of 63m @ 2.23% Cu and 72m @ 1.08%. These high-grade intercepts from surface are rare in the exploration world as explorers over recent times have had to go deeper and deeper to identify additional copper resources.

Being the first mover into this highly prospective location, after more than a decade of inactivity due to political constraints – securing the licences organically and now having undertaken our first drill program, positions us well both for future work programmes and facilitate further discoveries.

We are not surprised by the increased attention into the broader region by many players. Infrastructure enhancements at Yellowknife and increased activity along the north-west passage provide far easier access than in previous decades when the last serious exploration was undertaken.

More recently we have seen increased state and federal conversations around road and port infrastructure development in this area to support regional development. Logistics that will positively impact the Rae Project. Given the project area is less than 80km by road to the deep-water port of Kugluktuk, these results will surely focus the spotlight on the development opportunities and benefits to the local and regional stakeholders.

The Rae Project area has the potential to help meet the global production void through proper systematic assessment of this underexplored copper landholding and we continue to look forward to updating shareholders with the next round of results as they come to hand over the coming weeks.”

Troy Whittaker – Managing Director

Click here for the full ASX Release

This post appeared first on investingnews.com

Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to announce the completion of a new Mineral Resource Estimate (MRE) for the Pansy Pit deposit at its Murchison South Gold Project. The estimate, prepared by independent consultants Mining Plus, reported above a cut-off grade of 0.5g/t Au, confirms a near-surface inferred resource of 72kt @ 2.5g/t Au for 5,800 oz. This adds to the existing 61,300 oz gold resource at the nearby Blue Heaven deposit, bringing the total gold resource inventory at Murchison South to approximately 67,100 oz.

HIGHLIGHTS

  • Pansy Pit: Mining Plus confirms Mineral Resource Estimate (MRE) for the Pansy Pit Deposit at Murchison South:
    From Surface 72kt @ 2.5g/t Au for 5,800 oz Gold (Table 1)
  • Blue Heaven and Pansy Pit MRE, together total ~67,100 oz Gold
  • Pansy Pit MRE is based solely on review by Mining Plus of historical drilling
  • Historical drilling was only to 60m, mineralisation open at depth and along strike north and south (Figure 2)
  • The Pansy Pit has the potential to be a shallow, open pit mining operation, with mineralisation observed from surface
  • The Pansy Pit sits within granted Mining lease M59/662 and is just over 2km from the Company’s Blue Heaven deposit and on the south side of the Great Northern Highway (Figure 3)
  • The Pansy Pit provides evidence of the expansion potential along the Primrose Fault, notably to the south at the Shamrock deposit and to the north at the Pansy North and Jacamar deposits (Figure 3)

The Pansy Pit MRE is shown in Table 1 on page 3.

Click here for the full ASX Release

This post appeared first on investingnews.com

Hell hath now frozen over. 

President Donald Trump’s decision to accept a $400-million plane from Qatar, as a gift, has prompted stinging criticism from Laura Loomer.

She’s the hard-right activist who specializes in getting the president to fire top officials and withdraw nominees, or at least claims credit for doing so.

If you’ve lost Loomer, you’re losing the argument.

Not according to Donald Trump. He told reporters yesterday that this was a ‘great gesture’ by Qatar, done because ‘we keep them safe,’ referring to Qatar and the UAE, which he’ll be visiting after Saudi Arabia.

He said the maintenance costs on the 40-year-old Air Force One planes are astronomical, and noted that the Reagan Library has such a plane. The decommissioned Qatar aircraft will go to a future Trump Library.

But the Gipper’s plane didn’t come from Qatar.

‘How are we supposed to ever see the US under the Trump admin designate the Muslim Brotherhood as a terrorist organization,’ Loomer wrote, ‘if the US is now going to accept a $400 million jet from Qatar to fly the US President and his staff around on?’

Calling the episode a ‘stain’ on his tenure, she added: ‘I love President Trump. I would take a bullet for him. But, I have to call a spade a spade. We cannot accept a $400 million ‘gift’ from jihadists in suits. The Qataris fund the same Iranian proxies in Hamas and Hezbollah who have murdered US Service Members. The same proxies that have worked with the Mexican cartels to get jihadists across our border.’

The media are in an uproar as well, and the story has only grown bigger since it was first reported by ABC News.

Of course, the luxury 747 will have to be upgraded with secure communications and military equipment. That would take at least till the end of the year. 

But one Pentagon official told the New York Times ‘we’re talking years, not months.’

Trump consulted Elon Musk, the DOGE leader and head of SpaceX, who told him that the plane could be delivered in a year.

Two loyalists – Attorney General Pam Bondi and White House Counsel David Warrington – approved the arrangement, according to the Times. Trump toured the 747 in February when it was parked at the Palm Beach airport.

There was a Plan B that got derailed. The Qataris offered to donate the plane immediately to the future Trump Library.

But administration lawyers said that would violate the Constitution’s emoluments clause – which as Beltway insiders know, bars any federal official from accepting personal gifts from a foreign nation without the approval of Congress. 

The president’s ‘flood the zone’ approach has ensured that this isn’t the only story out there.

He announced that after two days of talks, the U.S. and China reached a 90-day agreement that would reduce tariffs on Beijing from 145% to 30%, and Chinese tariffs would be cut to 10%.

It’s clear that Trump blinked. Having tanked the markets (which soared yesterday), he was under enormous pressure to undo the damage. So now we’re back to square one, roughly where we might have been without igniting a global crisis.

But perhaps Xi Jinping blinked as well. His government was feeling the impact of the sky-high tariffs as well. The Chinese, with considerably less enthusiasm, said the ‘mistake’ would only lead to further negotiations.

Trump also was able to announce a cease-fire in the escalating war between India and Pakistan, thanks to some weekend diplomacy by Marco Rubio and JD Vance.

Trump also was able to announce that Hamas was freeing the last living American hostage being held by the terrorist group.

Trump also sided with Vladimir Putin, who wants to meet for peace talks with Volodymyr Zelenskyy, who first wants a 30-day cease-fire, so that Moscow doesn’t continue the killing and gain more territory while stalling on any pause in the fighting.

Trump also was able to unveil a plan that he says will lower the cost of prescription drugs by 30 to 80%.

But circling back to the 747, the president chided ABC’s Rachel Scott when she tried to question him about the plane:

‘You’re ABC fake news, right? Only ABC — well, a few of you would… Let me tell you, you should be embarrassed asking that question. They’re giving us a free jet. I could say, ‘No, no no, don’t give us. I want to pay you a billion, or 400 million, or whatever it is’ Or I could say, ‘thank you very much.”

Scott tried again: ‘Respectfully, sir, as a businessman, some people may look at this and say, have you ever been given a gift worth millions of dollars and then not —’

‘It’s not a gift to me, it’s a gift to the Department of Defense,’ Trump said. ‘And you should know better, because you’ve been embarrassed enough, and so has your network. Your network is a disaster. ABC is a disaster.’

Whether the president is right or wrong, it seems like these are legitimate questions. And the media are always a great foil for him. So I don’t see him backing down. 

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Saudi Arabian fighter jets appeared to escort Air Force One as President Donald Trump arrived in the country on Tuesday for a meeting with Crown Prince Mohammed bin Salman.

‘Air Force One about to go wheels down in Riyadh, Saudi Arabia with Saudi F-15 fighter jets bringing us in. On behalf of President Trump, THANK YOU!’ White House deputy chief of staff Dan Scavino posted on X while sharing a video of jets flying alongside the U.S. president’s plane.

Two jets flew on the left side of AF1 and three flew on the right.

Scavino also shared a video of the crown prince greeting Trump on a purple carpet after he landed at King Khalid International Airport. The two leaders had a coffee ceremony shortly after greeting one another.

The president brought a slew of administration leaders with him, including Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, Commerce Secretary Howard Lutnick and Energy Secretary Chris Wright.

Trump arrived at the Royal Court in Riyadh at around 5:30 a.m. EST where he was welcomed with a ceremony and then participated in greetings with Saudi officials and U.S. guests. Trump is expected to have lunch and meetings over a three-hour period.

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On border security, support for Israel and diplomacy with President Donald Trump, Sen. John Fetterman, D-Pa., has bucked the Democratic Party on key issues since assuming office in 2022. 

A string of media reports emerged this month detailing Fetterman’s alleged cognitive decline and waning support within the Democratic Party. A New York Magazine report sparked questions about Fetterman’s mental stability. Subsequent reports by the Associated Press, detailing an outburst during a union meeting, and by Politico, which indicated he is losing traction among Pennsylvania Democrats, were slammed by several of his Capitol Hill colleagues as a coordinated smear campaign.

In an era of partisan politics, Fetterman has embraced bipartisanship with newly elected Sen. Dave McCormick, R-Pa. When McComrick was elected in November, the Pennsylvanians traded jabs for joint dinners as Fetterman built his reputation for being willing to reach across the aisle. Fetterman also met with Trump’s controversial Cabinet picks and worked with Sen. Katie Britt, R-Ala., to pass the Laken Riley Act this year. 

While Fetterman, who suffered a stroke during his 2022 Senate campaign, shut down questions about his mental fitness amid the relentless reports, it’s not the first time a Democrat has been targeted after falling out of line with the party. 

Sen. Chuck Schumer, D-N.Y., faced the ire of the Democratic Party earlier this year when he joined Fetterman in voting to pass the Republicans’ spending bill and avoid a government shutdown. Schumer, currently Senate minority leader, was slammed by progressive Democrats while the future of party leadership hangs in the balance. 

Former Sen. Kyrsten Sinema, I-Ariz., was once a Democrat but later registered as an independent. While she continued to caucus with her party, Sinema ruffled liberal feathers by opposing efforts to eliminate the filibuster rule and opposed former President Joe Biden’s ‘Build Back Better’ plan.

In 2022, Sinema said she was leaving the party, adding that ‘nothing will change about my values or my behavior.’

Sinema became the first senator to switch parties since the late Pennsylvania Sen. Arlen Specter – then Republican – famously announced that ‘my change in party will enable me to be re-elected’ in 2009.

Soon after Sinema came now-former West Virginia Sen. Joe Manchin. Long seen as a moderate thorn in the side of the increasingly liberal Democrats, Manchin often clashed with his former party on environmental issues, given the Mountain State’s reliance on the fossil fuel industry.

Things came to a head in Charleston when then-Gov. Jim Justice held up his bulldog Babydog backward in the legislative chamber and told actress Bette Midler – who had trashed the state over one of Manchin’s such votes – to ‘kiss her heinie.’

Former Hawaii Rep. Tulsi Gabbard was once considered a rising star in the Democratic Party until her comments and behavior drew the ire of party elders like Hillary Clinton. The anti-interventionist Gabbard, who had appeared in the Moscow media, was anonymously slammed by Clinton in 2019 when she said that ‘somebody who is currently in the Democratic primary’ was a ‘favorite of the Russians.’ An advisor later said Gabbard was the figure in question.

Since then, Gabbard has gone on to make a full partisan 180, becoming a member of President Donald Trump’s Cabinet.

During Rep. Nancy Pelosi’s, D-Calif., historic speakership, another Democrat famously bucked the party and ultimately retired soon after trying to proverbially oust the queen.

North Carolina Rep. Heath Shuler became disaffected by the liberal progression of the party and mounted an unsuccessful challenge to Pelosi’s leadership role after Democrats suffered massive losses in the 2010 midterms.

Shuler, a former then-Washington Redskins quarterback, had been the leader of the moderate Blue Dog Democrat caucus when he took aim at the speakership.

Fetterman’s office did not respond to Fox News Digital’s request for comment.

This post appeared first on FOX NEWS

House Republicans are moving to put stricter work requirements on food stamps in a bid to cut government waste and find taxpayer savings for President Donald Trump’s ‘big, beautiful bill.’

Cobbling the vast piece of legislation together takes coordination by 11 different House committees, each working on a portion of it under their panel’s jurisdiction.

The portion released on Monday night would raise the upper age limit for work requirements for the Supplemental Nutrition Assistance Program (SNAP), from certain able-bodied adults up to age 54 to those up to age 64.

Whereas the current rules exempt people with dependents under age 18, the new provision would now include SNAP recipients with children above age 7 who otherwise qualify for work requirements.

The House Agriculture Committee, which oversees federal food programs in addition to America’s farmers, was tasked with finding $230 billion in spending cuts out of a sum total of $1.5 trillion to $2 trillion dollars – cuts that conservatives had demanded to offset the cost of Trump’s other priorities.

‘For far too long, the SNAP program has drifted from a bridge to support American households in need to a permanent destination riddled with bureaucratic inefficiencies, misplaced initiatives, and limited accountability,’ Committee Chairman Glenn Thompson, R-Pa., said in a statement.

‘This portion of the One Big, Beautiful Bill restores the program’s original intent, offering a temporary helping hand while encouraging work, cracking down on loopholes exploited by states, and protecting taxpayer dollars while supporting the hardworking men and women of American agriculture.’ 

The legislation also would eventually have the states cover some SNAP costs. Currently, the federal government fully covers SNAP costs for all 50 states and half the states’ administrative costs to run it.

The new bill would impose a 5% baseline benefit cost share for all states, beginning in 2028. States with higher rates of erroneous payments would pay more as well.

It would also lower the ‘match rate’ for which the government reimburses states for those administrative costs, from 50% to 25%.

Fox News Digital first reported in late February that Republicans were looking to heighten work requirements for food stamps via reconciliation, when similar legislation was introduced by Rep. Dusty Johnson, R-S.D., a member of the Agriculture panel.

House and Senate Republicans are working on advancing Trump’s agenda via the budget reconciliation process this year. 

Reconciliation allows the party controlling both houses of Congress and the White House to move a massive piece of legislation, provided it addresses budgetary matters like spending, taxes or the national debt.

It makes that possible by lowering the Senate’s passage threshold from 60 votes to 51, lining up with the House’s own simple majority threshold – meaning Democrats are completely sidelined in the process.

Trump wanted Republicans to craft a bill advancing his priorities on the border, immigration, taxes, energy, defense and raising the debt limit.

The House Agriculture Committee, along with two other top committees, are advancing their own portions of the bill on Tuesday.

When that is done, all 11 House committees that have crafted individual reconciliation pieces will put them together into a massive bill, identical versions of which must pass the House and Senate before reaching Trump’s desk.

House Speaker Mike Johnson, R-La., has said he wants the House to finish its portion of the effort by Memorial Day.

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As Vermont Sen. Bernie Sanders continues to travel around the country on his ‘Fighting Oligarchy’ tour, while at the same time defending his use of private jets to do so, an energy watchdog group has calculated the true scope of the carbon emissions his flights have emitted.

During the 16 stops of the tour, which Sanders embarked on with the help of progressive Rep. Alexandria Ocasio-Cortez, his private jet emitted a total of 62.15 tonnes, or metric tons, of carbon dioxide, according to an estimate from Power the Future.

To put that in perspective, Power the Future said in a press release that the emissions equate to burning 62,600 pounds of coal, driving a gas-powered SUV 150,000 miles, powering every home in Sanders’ hometown of Burlington, Vermont, for weeks, and powering nine U.S. homes for an entire year.

Power the Future also calculated that Sanders generated more carbon dioxide emissions on this single tour than the average American produces in five years. Additionally, the group says that the emissions undo the carbon-capturing work of nearly 2,900 trees over the course of a year.

‘Sen. Sanders has voted for legislation punishing people for their carbon footprint and threatening fossil fuel executives with prison for climate change hysteria, but his personal actions demonstrate he’s just another limousine liberal, a fake socialist, unwilling to live what he wants to impose on you,’ Dan Turner, Power the Future founder and executive director, told Fox News Digital. 

‘The climate movement is dead, and Bernie Sanders’ hypocrisy helped kill it.’

Sanders, in a recent interview with Fox News, refused to apologize for his private jet travel and argued that oftentimes it is not possible or feasible to fly commercially. 

‘That’s the only way to get around,’ Sanders told Bret Baier. ‘No apologies for that. That’s what campaign travel is about. We’ve done it in the past. We’re gonna do it in the future.’

‘You run a campaign, and you do three or four or five rallies in a week. [It is] the only way you can get around to talk to 30,000 people. You think I’m gonna be sitting on a waiting line at United…while 30, 000 people are waiting?’ 

Power the Future noted that one of the private jet flights taken by Sanders was from Washington, D.C., to Los Angeles, a route that offers more than a dozen commercial flights per day. 

Sanders’ campaign committee, Friends of Bernie Sanders, spent over $221,000 chartering private jets during the first quarter of 2025, according to Federal Election Commission filings reviewed by Fox News Digital and first reported by The Washington Free Beacon. The filing, which was released last month, shows that Sanders dropped the massive haul between three private jet companies: Ventura Jets, Cirrus Aviation Services and N-Jet.

Last month, Fox News Digital exclusively reported that Sanders and Ocasio-Cortez were spotted using a private jet worth up to a staggering $15,000 an hour for several West Coast stops on their ‘Fighting Oligarchy’ tour. 

‘Champagne socialists Bernie Sanders and Alexandria Ocasio-Cortez demand Americans surrender their pick-up trucks, air conditioning and meat from the luxe leather seats of their private jets that cost more per hour than most Americans earn in months. Their hypocrisy is staggering,’ National Republican Congressional Committee spokesperson Ben Petersen told Fox News Digital at the time.

Fox News Digital reached out to Sanders’ office for comment. 

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