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Legendary investor Warren Buffett is stepping down as CEO of Berkshire Hathaway (NYSE:BRK.A,NYSE:BRK.B) after six decades at the helm — but he’s still not yet ready to retire.

In a media release on Monday (May 5), Berkshire said that its board of directors unanimously has voted to appoint Greg Abel, vice chairman, non-insurance operations, as president and CEO come January 2026.

Buffett will remain the chairman of the board of directors.

Buffett has held the position of CEO at Berkshire since 1970, with Abel confirmed as his successor in 2021.

What is Buffett’s strategy?

Buffett took control of Berkshire in 1965, back when the company was a struggling textile manufacturer.

In a 2010 letter to shareholders, he recounted his experience in those early days:

‘Berkshire was then only intextiles, where it had in the previous decade lost significant money. The dumbest thing I could have done was topursue ‘opportunities’ to improve and expand the existing textile operation – so for years that’s exactly what Idid. And then, in a final burst of brilliance, I went out and bought another textile company. Aaaaaaargh!Eventually I came to my senses, heading first into insurance and then into other industries.’

Many people have tried to explain Buffett’s success in recent years. One recent Financial Times article titled “How Buffet Did It” notes that his strategy is “more than great stock picks and insurance premiums.”

An older paper called ‘Buffett’s Alpha’ suggests that his exposure to low-risk, cheap and high-quality stocks is key.

“(He) has boosted his returns by using leverage, and that he has stuck to a good strategy for a very long time period, surviving rough periods where others might have been forced into a fire sale or a career shift,” states the paper, which was written by Andrea Frazzini, David Kabiller and Lasse Heje Pedersen.

‘We estimate that Buffett applies a leverage of about 1.7-to-1, boosting both his risk and excess return in that proportion. Thus, his many accomplishments include having the conviction, wherewithal, and skill to operate with leverage and significant risk over a number of decades,’ the authors also note.

Who is Buffett’s successor?

Abel has been with Berkshire since 2000, when Berkshire bought MidAmerican, an energy company he had been running. He joined the board as vice chairman, non-insurance operations, in 2018.

MidAmerican was renamed Berkshire Hathaway Energy (BHE), with Abel serving as its chief executive officer from 2008 to 2018. He remains the company’s chair as of writing. At both MidAmerican and Berkshire, Abel was mentored by David Sokol, who seemed a likely successor to Warren Buffett until he resigned from Berkshire in 2011.

Abel was named vice chairman in 2018 along with Ajit Jain. In a 2014 letter to shareholders, Buffett’s longtime right-hand man, Charlie Munger, who passed away in 2023, wrote about the two as potential successors.

‘Ajit Jain and Greg Abel are proven performers who would probably be under-described as ‘world-class.’ ‘World-leading’ would be the description I would choose,’ said Munger.

‘In some important ways, each is a better business executive than Buffett.’

Buffett has also spoken highly of Abel, saying in 2023, ‘Greg understands capital allocation as well as I do. That’s lucky for us. He will make those decisions, I think, very much in the same framework as I would make them. We have laid out that framework now for 30 years.’

Berkshire’s path forward under Abel

Buffett’s words indicate that he sees Berkshire and Abel following the framework he has laid out.

Of course, there may be some evolution. Morningstar analyst Gregg Warren notes that the ‘groundwork for a successful transition’ at Berkshire has been in place for decades.

He also notes that Buffett and Munger were skilled at acquiring businesses that were a good cultural fit.

“We expect this to continue, believing that Berkshire’s culture of management autonomy and entrepreneurship has become institutionalized,’ Warren explains in a recent article.

‘ However, the new managers will probably work with a slightly different opportunity set, and we believe they will evolve Berkshire from what has historically been a reinvestment machine into one that is more focused on returning capital to shareholders, which is what we would expect of a company of this size with limited investment opportunities.”

Warren also comments that Berkshire currently doesn’t pay a dividend. This principle is because of Buffett’s belief that retained earnings should yield greater value than cash payouts.

Warren said this may change after Abel takes over, underlining that issuing a dividend could help Berkshire retain shareholders who may consider selling once Buffett is no longer at the helm.

Berkshire’s recent activities include diversification of its portfolio via strategic acquisitions and investments.

In January 2025, Forest River Bus & Van, a Berkshire subsidiary, announced its acquisition of L.A. West Coaches to enhance its product portfolio in the luxury transportation market.

“This partnership represents a shared commitment to excellence and innovation,” said Douglas Wright, group general nanager of Forest River Bus & Van. “L.A. West Coaches’ proven expertise and dedication to quality align with our values, and we look forward to collaborating to expand our product range.”

BHE is also currently exploring the production of lithium carbonate and other minerals from its geothermal power plants in California’s Imperial Valley, aligning with the company’s interest in renewable energy and sustainability.

BHE Renewables publicized a joint venture with Occidental Petroleum (NYSE:OXY) in June 2024, saying that this will be useful for the demonstration and deployment of TerraLithium’s direct lithium extraction.

Occidental is the owner of TerraLithium, a company that provides a technology platform for extracting lithium from geothermal and other brines to produce ultra-pure battery-grade lithium hydroxide and lithium carbonate.

Once the demonstration is successful, BHE Renewables plans to build, own and operate commercial lithium production facilities in California’s Imperial Valley. The joint venture also plans to license the technology and develop commercial lithium production facilities outside the Imperial Valley.

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

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President Donald Trump on Friday morning said that an ‘80% Tariff on China seems right!’ adding on Truth Social that the final number would be up to U.S. Treasury Secretary Scott Bessent. 

An 80% tariff on Chinese goods coming into the U.S. would be nearly half of the current 145% tariff on the Asian country.

Minutes earlier, he posted: ‘CHINA SHOULD OPEN UP ITS MARKET TO USA — WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DON’T WORK ANYMORE!!!’

It was the first time the president has put out a specific number, after previously suggesting the tariff could be lowered. 

Trump’s suggested lower tariffs come ahead of weekend talks between Bessent and chief trade negotiator Jamieson Greer and Chinese economic tsar He Lifeng in Switzerland. 

White House press secretary Karoline Leavitt said in a press briefing Friday, ‘That was a number the president threw out there, and we’ll see what happens this weekend,’ adding that Trump wouldn’t unilaterally lower the tariff and China would be required to make ‘concessions.’ 

Earlier this week, Trump said that China is eager to make a deal with the U.S. 

‘Scott’s going to be going to Switzerland, meeting with China,’ Trump told reporters Thursday at the White House. ‘And you know, they very much want to make a deal. We can all play games. Who made the first call, who didn’t make them? It doesn’t matter. Only matters what happens in that room. But I will tell you that China very much wants to make a deal. We’ll see how that works out.’

The Trump administration announced widespread tariffs for multiple countries on April 2, following criticism that other countries’ trade practices are unfair towards the U.S.

The administration later adjusted its initial proposal and announced on April 9 it would immediately impose a 145% tariff on Chinese goods, while reducing reciprocal tariffs on other countries for 90 days to a baseline of 10%. China responded by raising tariffs on U.S. goods to 125%.

Fox News’ Diana Stancy contributed to this report. 

This post appeared first on FOX NEWS

A Massachusetts suspect was charged this week with attempting to assassinate a cabinet nominee, the U.S. Department of Justice said. 

Ryan Michael English, 24, was arrested in January after allegedly attempting to bring a knife and two improvised Molotov cocktails into the U.S. Capitol to assassinate then-Treasury Secretary nominee Scott Bessent during his nomination.

On Thursday, English was charged with the attempted assassination of a cabinet member nominee and carrying a dangerous weapon on the grounds of the U.S. Capitol Building.

English had an initial court appearance on Thursday afternoon.

Prosecutors said that English had also originally plotted to kill House Speaker Mike Johnson, R-La., and Defense Secretary Pete Hegseth, and was inspired by United HealthCare CEO murder suspect Luigi Mangione. 

English walked up to a U.S. Capitol Police officer on Jan. 27 and allegedly stated, ‘I’d like to turn myself in,’ according to initial charging documents. 

English claimed to have two Molotov cocktails and two knives and expressed being there ‘to kill Scott Bessent,’ according to court documents. Federal prosecutors said English left home in Massachusetts and traveled to Washington with the intent of killing Hegseth, whom the suspect referred to as a ‘Nazi,’ and Johnson, and burning down the Heritage Foundation, a conservative think tank near the White House. 

Capitol Police officers found a folding knife and two improvised incendiary devices made of vodka bottles with a grey cloth affixed to the top inside English’s jacket during a search. 

They found a green lighter in another pocket. 

Fox News’ Danielle Wallace and Louis Casiano contributed to this report.

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Pakistan’s armed forces said they hit back at India, targeting military sites, after India fired missiles at three of its air bases in a frightening escalation between the two nuclear-armed neighbors.

India had earlier targeted the three air bases inside Pakistan with missiles, most of which were intercepted, on Saturday, Pakistani military officials said. 

The strike marks the latest escalation between the nuclear-armed rivals, a move triggered by a mass shooting that India blames Pakistan for.

In a televised address, Pakistani army spokesman, Lt. Gen. Ahmad Sharif, said the country’s air force assets were safe. 

He added that some of the Indian missiles also hit India’s eastern Punjab. There was no immediate comment from India.

‘This is a provocation of the highest order,’ Sharif said.

The missiles targeted Nur Khan air base in the garrison city of Rawalpindi, Murid air base in Chakwal city and Rafiqui air base in the Jhang district of eastern Punjab province, Sharif said. 

Some of the missiles landed in Afghanistan, he said. 

‘I want to give you the shocking news that India fired six ballistic missiles from its city of Adampur,’ said Sharif. One of the ballistic missiles hit Adampur, the remaining five missiles hit the Indian Punjab area of Amritsar.’

Earlier this week, Pakistan shot down more than two dozen drones.

The fraught relationship between the neighboring nations hit a low following an attack at a popular tourist area in India-controlled Kashmir, leaving 26 people dead. 

Most of those killed were Hindu tourists. India has blamed Pakistan, which denies any involvement.

This post appeared first on FOX NEWS

Mexico has filed a lawsuit against Google after it changed the label for the Gulf of Mexico to the Gulf of America on its maps platform to match U.S. President Donald Trump’s executive order to amend the name of the body of water, Mexican President Claudia Sheinbaum announced Friday.

Sheinbaum said at a press briefing that the lawsuit had been filed against the tech giant, without providing additional details.

The lawsuit comes after Sheinbaum threatened in February to sue Google for the name change.

‘We are going to wait. We are already seeing, observing what this would mean from the perspective of legal advice, but we hope that they will make a revision,’ Sheinbaum said at the time.

Mexico’s Foreign Relations Ministry has also previously sent letters to Google urging it not to relabel the oceanic basin as the Gulf of America.

Trump signed an order on his first day back in the White House in January to rename the northern part of the gulf to the Gulf of America. The body of water has shared borders between the United States and Mexico, and Trump’s order only carries authority within the U.S.

Mexico has argued that the Gulf of America label should only apply to the part over the U.S. continental shelf. The U.S. has control over about 46% of the gulf, Mexico controls about 49% and Cuba controls about 5%, according to Sovereign Limits, a database of international boundaries.

‘What Google is doing here is changing the name of the continental shelf of Mexico and Cuba, which has nothing to do with Trump’s decree, which applied only to the U.S. continental shelf,’ Sheinbaum said in February.

The gulf appears in Google Maps as the Gulf of America within the U.S., as the Gulf of Mexico within Mexico and Gulf of Mexico (Gulf of America) everywhere else. It had been called the Gulf of Mexico for more than 400 years.

Google Maps began using Gulf of America for users in the U.S. shortly after Trump’s order, citing its ‘longstanding practice’ of following the U.S. government’s lead on these matters. In cases where official names vary between countries, Google’s policy says users will see their official local names.

In February, the Mexican president shared a response from Google’s vice president of government affairs and public policy, Cris Turner, who said the company would not change its policy after Trump’s order.

Sheinbaum’s announcement of the lawsuit comes after House Republicans passed the Gulf of America Act in a 211-206 vote, marking the first step in codifying Trump’s order. The legislation now heads to the Senate.

Fox News Digital has reached out to Google for comment. 

The Associated Press contributed to this report.

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Denmark Prime Minister Mette Frederiksen said Friday that ‘you cannot spy against an ally’ in response to reports that the U.S. was gathering intelligence on Greenland, as U.S. President Donald Trump has continued to suggest purchasing the Arctic island.

‘Cooperation about defense and deterrence and security in the northern part of Europe is getting more and more important,’ Frederiksen told The Associated Press. ‘Of course, you cannot spy against an ally.’

Frederiksen made the comments as Denmark and Greenland push back on Trump’s desire to acquire the autonomous Danish territory, stressing that it is not for sale. Trump, however, has not ruled out taking it by military force despite Denmark being a NATO ally.

‘I don’t rule it out. I don’t say I’m going to do it, but I don’t rule out anything,’ Trump said earlier this week during an interview on NBC News’ ‘Meet the Press.’ 

‘We need Greenland very badly. Greenland is a very small amount of people, which we’ll take care of and we’ll cherish them and all of that, but we need that for international security,’ he added.

The Danish prime minister’s statement on Friday came the day after Denmark summoned the top American diplomat in the country for an explanation to a report from The Wall Street Journal about several high-ranking officials under the U.S. director of national intelligence, Tulsi Gabbard, directing intelligence agency heads to collect information on Greenland’s independence movement and views about U.S. resource extraction on the island.

Acting head of the U.S. Embassy in Copenhagen, Jennifer Hall Godfrey, met with Danish diplomat Jeppe Tranholm-Mikkelsen at the Danish Foreign Ministry, although details of the meeting were not disclosed.

Greenlandic Prime Minister Jens-Frederik Nielsen told Greenland newspaper Sermitsiaq that the reports of U.S. espionage are unacceptable and disrespectful. 

Nielsen said last month that Greenland ‘will never, ever be a piece of property that can be bought by just anyone’ and that ‘the talks from the United States have not been respectful.’

Gabbard’s office released a statement saying she had made three ‘criminal’ referrals to the U.S. Justice Department over intelligence community leaks in response to the report from The Wall Street Journal, which cited two sources familiar with the matter.

‘The Wall Street Journal should be ashamed of aiding deep state actors who seek to undermine the President by politicizing and leaking classified information,’ Gabbard said. ‘They are breaking the law and undermining our nation’s security and democracy. Those who leak classified information will be found and held accountable to the fullest extent of the law.’

The Associated Press contributed to this report.

This post appeared first on FOX NEWS

Robinhood Markets, Inc. (HOOD) is back in the spotlight, wrestling with its four-year highs and turning heads on Wall Street. It debuted in 2021 as an IPO darling, capturing the imagination of young Gen Z traders before its dramatic fall as a meme stock fueled by crypto and an unhealthy dose of FOMO.

Now, with year-to-date gains outpacing the S&P 500 ($SPX), the former disruptor is looking to claim its space as a serious contender rather than a speculative fad.

Robinhood Stock’s Price Action: Breaking Out or Topping Out?

If you’ve been checking the StockCharts Technical Rank (SCTR) Reports, you’ve probably noticed the stock popping up on the Large Cap Top 10 list.

FIGURE 1. SCTR REPORT LARGE CAP TOP 10. Robinhood is second from the top.

If you’re eyeing HOOD, you’re likely asking two key questions: How is it performing relative to its Financials sector peers, and how strong is the sector itself in terms of market breadth? Just as important, you’ll want a longer-term view: How has the stock held up over time, both on its own and compared to the broader S&P 500?

Let’s tackle all those questions in one shot.

Financial Sector Breadth Shows Bullish Tailwinds for HOOD

The chart below, which tracks the Financial Sector Bullish Percent Index, offers a quick read on sector strength and market positioning.

NOTE: The BPI spans three years.

FIGURE 2. FINANCIAL SECTOR BPI. Market breadth and comparative price performance look exceedingly bullish.

From a breadth perspective, the Financial sector looks bullish, bordering on overbought, with over 82% of the stocks within the sector triggering Point & Figure Buy Signals, according to its Bullish Percent Index (BPI) reading. Meanwhile, HOOD is crushing it on a 3-year relative basis—outperforming its sector by 250% and the S&P 500 by nearly 300%.

This paints a bullish picture. But before jumping to conclusions, let’s take a step back and look at HOOD’s price history, going back to when it IPO’d in 2021.

From Meme Craze to Measured Recovery

Check out the weekly chart below.

FIGURE 3. WEEKLY CHART OF HOOD. It’s above the 10-week and 40-week SMAs, but it has quite a distance to go before testing its yearly high.

You don’t need annotations to spot where HOOD’s meme-stock frenzy peaked and where the crash began, fueled by a sharp drop in retail trading activity, crypto market volatility, and intensifying regulatory pressure.

After basing for two years, HOOD began picking up steam in 2024. Its improving technical strength is reflected in the sharp spike of its SCTR, breaking above the 90 line. Fundamentally, HOOD began to recover as it started raking in profits, expanding its product lineup, and reigniting its user growth.

It’s trading above its 10-week and 40-week simple moving average (SMA), which is equivalent to a 50-day and 200-day SMA, respectively. Still, it has quite a way to go before testing its high of $66.90.

Short-Term Trading Setup

If you’re looking to buy HOOD, you’ll need to zoom in to find favorable entry points. Let’s switch over to a daily chart.

FIGURE 4. DAILY CHART OF HOOD. Support levels are clear and accumulation looks promising.

HOOD was in an intermediate-term downtrend starting in early February, where it peaked at $66.90, all the way down to the early part of April, where it bottomed sharply at around $29. HOOD quickly recovered, breaking above $50 (a local swing high) to $54, where it is now (at the time of writing).

Can HOOD Hold Its Gains or Is Consolidation Coming?

The Stochastic Oscillator warns that HOOD may be overbought and due for a pullback. Here are a couple of scenarios to consider, and note that the Ichimoku Cloud visually provides a wider range of potential support:

  • Watch for support at $46 or $39, both recent swing lows.
  • If it stalls between those levels, it could signal a failed breakout and continued consolidation until a new catalyst emerges.
  • If it drops below $39, the next key level is at $29, but be a little cautious at that point, as such a deep retracement may indicate weakening momentum, sentiment, and fundamental weakness.

On the bullish side of things, the Accumulation/Distribution Line (ADL), currently well above the price, is indicating strong accumulation, suggesting that demand is outpacing supply—which, if it continues, can drive prices higher.

At the Close

Robinhood’s stock price is showing real signs of strength, not just on a chart, but in its fundamentals. With relative performance beating its sector and the S&P 500, and strong accumulation under the surface, HOOD’s comeback narrative is gaining technical validation. But with overbought signals flashing and key support levels in play, the next move may depend on whether bulls defend the breakout, or if the stock consolidates further while waiting for its next catalyst.

In either case, keep a close eye on volume, momentum shifts, and those support zones. HOOD may still have more room to run, but timing your entry could make all the difference.



Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your personal and financial situation, or without consulting a financial professional.

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  OR FOR DISSEMINATION IN THE UNITED STATES

Brunswick Exploration Inc. (‘ Brunswick ‘ or the ‘ Corporation ‘) (TSX-V: BRW, OTCQB: BRWXF) is pleased to announce that it has entered into an agreement with Red Cloud Securities Inc., to act as co-lead agent and sole bookrunner along with Canaccord Genuity Corp. as co-lead agent (collectively, the ‘ Agents ‘), in connection with a ‘best efforts’ private placement (the ‘ Marketed Offering ‘) for aggregate gross proceeds of up to C$2,500,000 from the sale of (i) units of the Corporation (the ‘ LIFE Units ‘) at a price of C$0.13 per LIFE Unit (the ‘ Offering Price ‘) and (ii) units of the Corporation (the ‘ Non-LIFE Units ‘, and collectively with the LIFE Units, the ‘ Offered Securities ‘) at a price of C$0.15 per Non-LIFE Unit. A strategic investor has made a lead order to subscribe for Non-LIFE Units under the Offering.

Each LIFE Unit will consist of one common share of the Corporation (each, a ‘ Unit Share ‘) and one half of one common share purchase warrant (each whole warrant, a ‘ LIFE Warrant ‘). Each whole LIFE Warrant will entitle the holder thereof to purchase one common share of the Corporation (each, a ‘ Warrant Share ‘) at a price of C$0.20 at any time for a period of 36 months following the Closing Date (as defined herein).

Each Non-LIFE Unit will consist of one Unit Share and one common share purchase warrant (each, a ‘ Non-LIFE Warrant ‘). Each Non-LIFE Warrant will entitle the holder thereof to purchase one Warrant Share at a price of C$0.25 at any time for a period of 36 months following the Closing Date.

The Agents will have an option, exercisable in full or in part, up to 48 hours prior to the Closing Date, to raise up to C$1,000,000 in additional gross proceeds from the sale of LIFE Units at the Offering Price (the ‘ Agents’ Option ‘, and together with the Marketed Offering, the ‘ Offering ‘).

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (‘ NI 45-106 ‘), the LIFE Units will be offered for sale to purchasers in all the provinces of Canada (the ‘ Canadian Selling Jurisdictions ‘) pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The securities to be issued pursuant to the sale of LIFE Units are expected to be immediately freely tradeable under applicable Canadian securities legislation if sold to purchasers resident in Canada.

The Non-LIFE Units will be offered by way of the ‘accredited investor’ and ‘minimum amount investment’ exemptions under NI 45-106 in the Canadian Selling Jurisdictions. The securities to be issued pursuant to the sale of Non-LIFE Units will be subject to a four-month hold period in Canada pursuant to applicable Canadian securities laws.

The Offered Securities may also be issued to purchasers outside of Canada, including to purchasers resident in the United States pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933 (the ‘ U.S. Securities Act ‘), as amended.

The Corporation intends to use the net proceeds of the Offering for exploration activities at the Company’s Québec and Greenland projects, as well as for general corporate purposes and working capital.

The Offering is scheduled to close on May 28, 2025 (the ‘ Closing Date ‘), or such other date as the Corporation and the Agents may agree. Completion of the Offering is subject to certain conditions including, but not limited to the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

There is an offering document related to the Offering that can be accessed under the Corporation’s profile at www.sedarplus.ca and on the Corporation’s website at www.brwexplo.ca. Prospective investors should read this offering document before making an investment decision.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Brunswick Exploration

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Corporation is focused on grassroots exploration for lithium in Canada, a critical metal necessary to global decarbonization and energy transition. The Corporation is rapidly advancing the most extensive grassroots lithium property portfolio in Canada and Greenland.

Investor Relations/information

Mr. Killian Charles, President and CEO (info@brwexplo.ca)

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Such forward-looking information includes, but is not limited to, statements concerning the Corporation’s expectations with respect to the use of proceeds and the use of the available funds following completion of the Offering; the completion of the Offering and the date of such completion, approval of the TSX Venture Exchange and the filing of the offering document. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR+ at www.sedarplus.ca. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.

News Provided by GlobeNewswire via QuoteMedia

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Errawarra Resources Ltd (ASX: ERW) is pleased to advise that it has awarded its inaugural drilling contract at the high-grade Elizabeth Hill Project, located in the Pilbara region of Western Australia.

HIGHLIGHTS:

  • Inaugural Drilling Contract awarded for Elizabeth Hill.
  • West Core Drilling has been awarded the diamond drilling contract under a partial drill for equity arrangement. Drilling is anticipated to commence imminently post EGM.
  • Drill targeting currently being finalised following site visit by Errawarra’s Management to ground truth targets.
  • Regional Soils program targeting regional structures with associated historical silver in soil anomalism is almost completed with 1,766 soils samples and 89 rock chip samples having been collected.
  • Rock chip sampling is aided using pXRF technology to qualitatively assess with the samples in the field.
  • Laboratory results are expected in 6-8 weeks.

Following a competitive tender process, the Company has awarded the diamond drilling contract to West Core Drilling. The upcoming drill program will be completed under a partial drill-for-equity arrangement and will focus on high-priority mine and near-mine targets. These include:

  • Near-surface mineralisation,
  • Down-plunge extensions, and
  • Strategic drill holes to enhance the geological understanding and structural orientation of the mineralised system.

Drilling is anticipated to commence in the week following the Company’s upcoming General Meeting (GM) planned for 19 May 2025.

Executive Director Bruce Garlick commented:

“We are delighted to partner with West Core as part of our inaugural drilling program. This contract award demonstrates our continued progression of the project, and we look forward to testing the asset with the drill bit in the coming weeks. It was also fantastic for the board to recently visit site and see all the readily available nearby infrastructure that could potentially feed into our development planning.”

Targeting for the drill program is currently being finalised, with active involvement from the Board of Errawarra and technical consultants ERM Consulting. A recent site visit completed by management has enabled ground-truthing of the high-priority targets.

As part of Errawarra’s ongoing project development and planning, management visited the Radio Hill processing plant, approximately 15 kilometres to the north which is owned by Artemis Resources (ASX: ARV) and currently in care and maintenance.

During the same site visit, the team also observed the almost completed regional soil sampling campaign which is targeting regional structures with associated historical silver in soil anomalism. A total 1,766 soil samples and 89 rock chips samples have been collected to date during this program which is anticipated to be completed in the coming week.

Click here for the full ASX Release

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