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CoTec Holdings Corp. Notes HyProMag USA Press Release Regarding Capacity Expansion Concept Study

CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (‘CoTec’ or the ‘Company’) is pleased to note today’s press release by HyProMag USA, LLC (‘HyProMag USA’), its U.S.-based joint venture rare earth permanent magnet recycling and manufacturing company.

HyProMag USA announced the commissioning of a Concept Study to evaluate the expansion of its operations into Nevada and South Carolina in collaboration with Intelligent Lifecycle Solutions, LLC (‘ILS’)[i]. The Concept Study will be completed by PegasusTSI Inc. and BBA USA Inc. and will define design and capital requirements for additional Hydrogen Processing of Magnet Scrap (‘HPMS’)[ii] capacity and up to four new magnet production lines. The expansions are planned to complement the phased build-out of the first Texas Hub to optimize HyProMag USA’s hub-and-spoke configuration in the United States.[iii]

Julian Treger, CEO of CoTec, commented: ‘We are very excited to begin formally expanding and optimizing the footprint of HyProMag USA to Nevada and South Carolina collaborating with our partner, ILS. HyProMag USA’s NPV for the Texas hub is circa $600 million based on recent expansion plans, and the economics of expanding the hubs are linear which provides a potential 3x increase in company value with additional hubs.

Furthermore, given the recent strong increase in the price of rare earths and their associated magnets, the valuation of the Company continues to strengthen as detailed engineering, supply of feedstock and offtake discussions continue at pace. With the recent significant steps by the U.S. Government to support domestic supply and reshoring of rare earth magnet production, HyProMag USA is well positioned to support U.S. demand growth with commercial operations targeted in H1 2027. HyProMag USA continues to develop strategic partnership discussions with all stakeholders to accelerate financing, commissioning and product verification timelines.’

For further information, please refer to HyProMag USA’s press release, available at: www.hypromagusa.com

About HyProMag USA

HyProMag USA LLC is owned 50:50 by CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (‘CoTec’) and HyProMag Limited. HyProMag Limited is 100 per cent owned by Maginito Limited which is owned on a 79.4/20.6 per cent basis by Mkango Resources Ltd. (AIM/TSX-V:MKA) and CoTec.

About CoTec

CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) is redefining the future of resource extraction and recycling. Focused on rare earth magnets and strategic materials, CoTec integrates breakthrough technologies with strategic assets to unlock secure, sustainable, and low-cost supply chains for the United States and its allies.

CoTec’s mission is clear: accelerate the energy transition while strengthening U.S. economic and national security. By investing in and deploying disruptive technologies, the Company delivers capital-efficient, scalable solutions that transform marginal assets, tailings, waste streams, and recycled products into high-value critical minerals.

From its HyProMag USA magnet recycling joint venture in Texas, to iron tailings reprocessing in Québec, to next-generation copper and iron solutions backed by global majors, CoTec is building a diversified portfolio with long-term growth, rapid cash flow potential, and high barriers to entry. The result is a game-changing platform at the intersection of technology, sustainability, and strategic materials.

For more information, please visit www.cotec.ca

For further information, please contact:
Braam Jonker – (604) 992-5600

Forward-Looking Information Cautionary Statement

Statements in this press release regarding the Company and its investments which are not historical facts are ‘forward-looking statements’ which involve risks and uncertainties, including statements relating to the Company’s interest in and the proposed expansion of HyProMag USA and management’s expectations with respect to its current and potential future investments, including HyProMag USA, and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements, due to known and unknown risks and uncertainties affecting the Company, including but not limited to resource and reserve risks; environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social and transport disruptions. For further details regarding risks and uncertainties facing the Company please refer to ‘Risk Factors’ in the Company’s filing statement dated April 6, 2022, a copy of which may be found under the Company’s SEDAR+ profile at www.sedarplus.ca. The Company assumes no responsibility to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this news release and are encouraged to read the Company’s continuous disclosure documents which are available on SEDAR+ at www.sedarplus.ca.

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

[i] https://www.cotec.ca/news/hypromag-usa-enters-into-agreement-with-global-electronics-recycler-intelligent-lifecycle-solutions-for-feedstock-supply-and-pre-processing-site-share-in-south-carolina-and-nevada

[ii] Patented Hydrogen Processing of Magnet Scrap (HPMS) technology developed at University of Birmingham, which liberates NdFeB magnets from end-of-life scrap streams in a cost effective and energy efficient way

[iii]https://cotec.ca/news/hypromag-usa-expands-detailed-engineering-phase-to-include-three-hpms-vessels-and-initiates-concept-studies-for-further-expansion-and-complementary-long-loop-recycling

Source

Click here to connect with CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) to receive an Investor Presentation

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Boliden Strikes C$20 Million Deal with Golden Sky for BC Copper Project

Boliden Mineral Canada, a subsidiary of Sweden’s Boliden AB (STO:BOL,OTC Pink:BDNNY), has entered into a definitive agreement with Golden Sky Minerals (TSXV:AUEN,OTC Pink:LCKYF) to spend up to C$20 million on exploration of the Rayfield copper-gold property in British Columbia.

The agreement grants Boliden the right to earn up to an 80 percent interest in Golden Sky’s wholly owned Rayfield project by funding staged expenditures and cash payments over six years.

The Rayfield and Gjoll properties together cover 87,660 hectares within the Quesnel Trough, a prolific porphyry copper belt that hosts some of Canada’s largest operating mines, including Highland Valley, Gibraltar, and New Afton.

Despite its long history of production, significant areas of the belt remain under explored.

“This partnership is transformational for Golden Sky. Boliden’s decision to collaborate with us on Rayfield-Gjoll validates the district-scale copper-gold potential of this project,” said John Newell, president and CEO of Golden Sky.

Early exploration has outlined a sizable target at Rayfield. A 2024 geophysical survey identified a 600 by 1,100 metre chargeability and resistivity anomaly closely associated with gold and copper mineralization, supported by results from historical drilling.

Under the agreement, Golden Sky will remain the project operator during the earn-in period. Should Boliden complete its investment, the joint venture will move forward with pro-rata funding obligations based on ownership.

Copper demand is projected to rise sharply in coming decades as electrification drives investment in renewable energy, transmission grids, and electric vehicles.

Companies with exposure to large-scale porphyry systems in politically stable jurisdictions are increasingly viewed as well-positioned to benefit.

The deal in British Columbia also follows a milestone for Boliden in its home market.

Just one day before announcing the Golden Sky agreement, the Swedish company secured a mining concession for its Laver deposit in northern Sweden.

The concession grants rights to extract copper, gold, silver, and molybdenum, though additional environmental permits will be required before a final investment decision can be made.

“We naturally welcome this news. The Laver deposit has the potential to make a substantial contribution, particularly to Europe’s copper supply,” said Stefan Romedahl, director of Boliden Mines, in a September 2 press release.

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

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How to Invest in Lithium Stocks and the Lithium Market

Despite the current low price environment, the long-term demand for battery metals is robust and offers opportunity for those interested in lithium stocks.

Seasoned metals investors who want to look beyond gold and silver are getting involved, while new investors are being drawn into the space by expanding battery market and lithium supply deals between auto makers and lithium producers.

Whatever the reason, it’s important to get familiar with the lithium market before investing in lithium stocks. Here’s a brief overview of some of the basics, including supply and demand, prices and companies.

In this article

    Where is lithium mined?

    Lithium is found globally in hard-rock deposits, evaporated brines and clay deposits. There’s some contention as to which type of deposit is superior, but generally there are challenges and upsides for both.

    The world’s largest hard-rock mine is the Greenbushes mine in Australia, and the bulk of the world’s lithium brine production comes from salars in Chile and Argentina. Most large lithium reserves are in Chile, and the prolific “Lithium Triangle” spans Chile, Argentina and Bolivia. Australia was once again the world’s largest lithium producer in 2024, followed by Chile and China.

    Canada and the United States, ranked as the seventh and ninth largest lithium producing countries, are increasingly becoming hotspots for lithium development and production as North American auto makers seek to secure domestic supply sources.

    What’s the difference between battery-grade and technical-grade lithium?

    Technical-grade lithium is used in ceramics, glass and other industrial applications, while battery-grade lithium carbonate and lithium hydroxide are used to make lithium-ion batteries. These lithium products can also be used for technical applications in a pinch, although battery-grade lithium fetches premium market prices over technical-grade. Those aren’t the only classifications, though. Pharmaceutical grade lithium carbonate is used in medicine.

    How is lithium priced?

    Getting a look at lithium prices isn’t easy, and that can make it difficult for investors who are looking to assess the viability of a given project. Pricing in the lithium industry has always been opaque due to the dominance of a few major producers, with investors having very little pricing information they can trust.

    Simon Moores of Benchmark Mineral Intelligence has emphasized that pricing can be a difficult concept for investors to grasp.

    “The biggest myth surrounding pricing is, ‘What is the price of lithium?’ Because there is no one price,” he said. “The newcomers want one lithium price, but the existing market has a wide range of lithium chemicals and then grades within a specification.’

    There are also distinct prices for lithium on markets in different regions, meaning lithium hydroxide in China will be priced slightly different than in Europe.

    For those looking to invest in lithium who want to learn about lithium prices, it’s best to read reports on lithium price trends from experts to help you understand what is happening in the market.

    What factors drive the lithium market?

    A major driver for the lithium market is its use in the lithium-ion batteries that power electric vehicles, energy-storage systems, smart phones and laptops.

    Global EV sales reached 17 million units in 2024, up 25 percent from the previous year, according to International Energy Agency (IEA) data. The figure represents more than 20 percent of all new cars sold worldwide. Looking forward, EV sales are expected to increase by another 25 percent to surpass 20 million in 2025, amounting to about one-quarter of total new car sales for the year.

    Tesla with its Nevada-based gigafactory was the first carmaker to stoke excitement in the lithium space. However, advancements in Chinese battery technologies, strategic pricing and government support led to Chinese EV maker BYD Company (HKEX:1211) overthrowing Tesla (NASDAQ:TSLA) as the global EV market leader in sales for 2024. That trend has continued into 2025, as Elon Musk’s involvement in US politics has also damaged Tesla’s brand for both sides of the political spectrum.

    The ascension of a Chinese automaker on the global EV stage doesn’t come as a surprise to most market insiders. The IEA is forecasting that China will see more than 14 million new EVs will be sold in 2025, representing 60 percent of all new cars sold in the country. Even more impressive, this figure is more than all EVs sold worldwide in 2023.

    When it comes to the lithium batteries that power electric vehicles, the US Energy Information Administration (EIA) data shows that in 2023, “China controlled nearly 85% of the world’s battery cell production capacity by monetary value.”

    In the US, the election of Donald Trump to a second term as president has cast a shadow over the North American EV market. On September 30, 2025, the Trump Administration is set to scrap the US$7,500 consumer tax credit for EVs offered under the Biden-era Inflation Reduction Act. Government incentives to purchase EVs has also evaporated in Canada, despite the mandate that by 2035, 100 percent of new vehicle sales must be zero-emission vehicles.

    “North America, and in particular Canada, is experiencing a slowdown of EV sales in 2025. With Trump’s latest cuts in his ‘Big Beautiful Bill,’ the USA could struggle to see any growth in the EV market overall in 2025,” said Rho Motion Data Manager Charles Lester.

    Data centers and artificial intelligence technologies represent another key demand trend for lithium as they require significant investments in battery energy storage systems.

    “Batteries are now essential — not just for EVs, but to balance power systems across sectors,” said Paul Lusty, head of battery raw materials at Fastmarkets, at Fastmarkets’ Lithium Supply & Battery Raw Materials conference in June.

    On the supply side, China has made a major push in recent years to expand its lithium mine production, leading to an oversupplied market. The resulting lithium price slump forced Australian lithium miners to stall development plans, curtail production and even place some operations on care and maintenance.

    Fastmarkets has reported that China is set to surpass Australia as the world’s largest lithium producing country by 2026.

    Lithium mine supply disruptions out of China are already having an oversized impact. In mid-August 2025, Chinese battery giant Contemporary Amperex Technology (CATL) (SZSE:300750,HKEX:3750) confirmed it had suspended operations at Jianxiawo, one of the world’s largest lithium mines, after the mine’s permit expired on August 9 and the company failed to obtain an extension.

    The news sent lithium spot prices higher as well as the stock values of ex-China lithium miners such as Lithium Americas (NYSE:LAC), Pilbara Minerals (ASX:PLS) and Mineral Resources (ASX:MIN).

    How to invest in lithium stocks

    So what’s the best way to invest in lithium? How should investors interested in lithium stocks begin? To start, it helps to understand the lithium production landscape.

    For a long time, most lithium was produced by an oligopoly of lithium producers often referred to as the “Big 3”: Albemarle (NYSE:ALB), Sociedad Quimica y Minera (SQM) (NYSE:SQM) and FMC. Rockwood Holdings was on that list too before it was acquired by Albemarle several years ago.

    However, the list of the world’s top lithium-mining companies has changed in recent years. The companies mentioned above still produce the majority of the world’s lithium, but China accounts for a large chunk of output as well. As already discussed, the Asian nation is on track to become the largest lithium-producing country by 2026.

    For now, the biggest producer continues to be Australia, which is home to many lithium mines, including up-and-comer Liontown Resources’ (ASX:LTR,OTC:LINRF) Kathleen Valley operations. The mine entered open-pit production during H2 2024, and the plant hit commercial production in January 2025. The company is currently transitioning Kathleen Valley from an open-pit to underground mining operation, making it the state of Western Australia’s first underground lithium mine.

    In other words, lithium investors need to be keeping an eye on lithium-mining companies in Australia and other jurisdictions in addition to the New York-listed chemical companies that produce the material.

    Of course, smaller lithium stocks are worth watching too — to find out which ones are currently thriving, check out our top global lithium stocks article. You can also check out our articles on the biggest lithium stocks globally, top performing Australian lithium stocks and top Canadian lithium stocks.

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

    This post appeared first on investingnews.com

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    10 Generative AI Stocks to Watch as ChatGPT Soars

    The launch of OpenAI’s ChatGPT created a major buzz around artificial intelligence (AI) stocks.

    ChatGPT is an AI chatbot software application that uses machine learning techniques to emulate human-written conversations. A hitherto niche subsector in the AI industry, this technology is called generative AI, and it’s been making an impact on myriad industries, including marketing, security, healthcare, gaming, communication, customer service and software development.

    The potential behind generative AI has been the primary driver behind a major stock rally that has helped the S&P and Nasdaq indices reach multiple new highs since 2023.

    According to Fortune Business Insights, the generative AI market is expected to grow at a compound annual growth rate of 39.6 percent between 2024 and 2032 to reach an impressive US$967.65 billion.

    Although investors can’t directly take a position in privately owned OpenAI, several technology stocks offer exposure to the expected growth in generative AI technology.

    Data was gathered using TradingView’s stock screener. All market cap and share price data was current as of September 2, 2025.

    Biggest generative AI stocks to watch

    These 10 tech giants offer investors exposure to generative AI by offering their own chatbots and generative AI products, developing the hardware and software necessary for AI and integrating AI into their product.

    1. NVIDIA (NASDAQ:NVDA)

    Market cap: US$4.15 trillion
    Current share price: US$170.74

    Nvidia is a pioneer and global leader in graphics processing unit (GPU) technology. The company designs the specialized chips used to train AI and machine learning models.

    While it has been well known in computer and gaming spaces for decades, Nvidia’s progress in the AI sector has been the biggest growth driver in recent years. The company currently holds the title of the world’s most valuable company, coming in ahead of rivals Microsoft, Apple and Alphabet.

    Nvidia’s new Blackwell GPU architecture, now in full production, delivers a significant performance leap for AI workloads compared to its predecessor. A new Blackwell Ultra system is set to be released later in 2025.

    Generative AI’s explosive growth is driving the market for chips designed by companies like Nvidia and Marvell Technology (NASDAQ:MRVL), as well as for memory chips from companies like Micron Technology (NASDAQ:MU), which are another important component to training generative AI systems.

    2. Microsoft (NASDAQ:MSFT)

    Market cap: US$3.75 trillion
    Current share price: US$505.12

    The technology behemoth Microsoft has invested US$13 billion in OpenAI throughout the years, and the company’s current AI solutions, Bing AI and Copilot, are based on OpenAI’s technology. Microsoft has also partnered with Palantir to provide AI tools to US defense and intelligence agencies.

    More recently, Microsoft’s AI branch, dubbed MAI, has branched out. In August 2025, Microsoft officially launched its first proprietary foundation model, MAI-1-preview, for its Copilot assistance, as well as a new speech model, MAI-Voice-1, designed for efficient, real-time audio processing.

    3. Apple (NASDAQ:AAPL)

    Market cap: US$3.41 trillion
    Current share price: US$220.72

    Apple has been incorporating its version of AI, Apple Intelligence, into its iPhones, MacBooks and Apple Watches. Its next major product reveal is scheduled for September 9, 2025.

    The company’s main goal is to deliver AI capabilities while maintaining user privacy by prioritizing on-device processing. For more complex tasks, it uses Private Cloud Compute, a secure system that runs on Apple’s custom silicon chips and is designed to ensure data is not stored or made accessible to Apple.

    Apple has partnered with OpenAI to integrate ChatGPT into its ecosystem. The upcoming iPhone 17 series is rumored to feature new AI-driven capabilities and enhanced integration of Apple Intelligence.

    4. Alphabet (NASDAQ:GOOGL)

    Market cap: US$2.56 trillion
    Current share price: US$211.35

    Alphabet, Google’s parent company, has played an important role in advancing generative AI technology. Its flagship AI model, Gemini, powers a wide range of services, with new versions continuously being rolled out. The company designs its own custom AI accelerator chips, like the TPU v5p, which are used to train large-scale language models and power its AI services.

    Alphabet’s subsidiary, DeepMind, focuses on AI research and development. Its AI system AlphaFold won the Nobel Prize in Chemistry in 2024 for its ability to predict the structure of proteins based on a protein’s unique amino acid sequence.

    AI continues to be embedded across Google’s services as well. For example, AI Overviews displayed in Google Search results reach over two billion users per month as of mid-2025.

    5. Amazon (NASDAQ:AMZN)

    Market cap: US$2.40 trillion
    Current share price: US$225.34

    Amazon subsidiary and cloud-computing platform Amazon Web Services (AWS) evolved out of Amazon’s transition from an online retailer to one of the world’s largest technology companies. AWS’s wide range of services includes computing, storage, databases, networking, analytics, machine learning and AI.

    AWS has many AI business tools on offer across four verticals: AI services, AI platforms, AI frameworks and AI infrastructure. Generative AI is nothing new to Amazon, as the technology forms the basis of conversational experiences with Amazon’s all-too-familiar Alexa.

    Since its launch in 2023, Bedrock, a service that enhances software with generative AI capabilities, has expanded its catalog of foundation models to include OpenAI’s open-weight models and Anthropic’s Claude 4. At its AWS Summit in New York, the company announced Amazon Bedrock AgentCore, an innovation to help businesses rapidly deploy and scale AI agents with enterprise-grade security and tool integration.

    6. Meta Platforms (NASDAQ:META)

    Market cap: US$1.85 trillion
    Current share price: US$735.11

    Meta has expressed its commitment to continued research within the generative AI sphere with an open-source approach to its software developments. The giant behind Facebook, Instagram and WhatsApp is one of the most influential companies in tech, sharing ranks with the likes of Microsoft and Alphabet.

    Meta AI, which is built with Meta Llama 3, is integrated into Meta’s apps and also exists as a standalone website. The company’s products use machine learning to streamline Facebook ad campaign generation and help businesses reach the right consumers. This strategy has led to Meta’s ad business being a primary driver of revenue.

    Meta CEO Mark Zuckerberg has maintained that increased spending on AI infrastructure is necessary to maintain its competitive position. The company has made massive infrastructure investments over the last year and has been aggressively hiring top-tier AI talent.

    7. Oracle (NYSE:ORCL)

    Market cap: US$632.83 billion
    Current share price: US$225.30

    Oracle is a tech company that’s been around since the 1970s. In the early 2000s, it began buying up other software companies, and today it is one of the leading providers of cloud-based database management software. Its primary AI service, Oracle Cloud Infrastructure (OCI) Generative AI, was released on January 23, 2024.

    Oracle has positioned itself as a neutral platform, offering its customers a choice of top-tier models from various providers. It has recently expanded its offerings to include Google’s Gemini models and has also deployed OpenAI’s GPT-5 across its cloud applications and database portfolio.

    Oracle maintains a long-standing partnership with Nvidia, leveraging its hardware for large-scale AI workloads. This collaboration has culminated in the company building a zettascale supercomputer using as many as 131,072 Nvidia Blackwell GPUs to tackle complex generative AI challenges.

    8. Palantir Technologies (NASDAQ:PLTR)

    Market cap: US$372.67 billion
    Current share price: US$157.29

    Palantir’s generative AI strategy is centered on its Artificial Intelligence Platform (AIP), a core product designed to help governments and commercial enterprises integrate AI into their operations with a focus on security and human-in-the-loop control.

    Rather than building models for general use, Palantir’s approach is to provide a platform that enables customers to leverage large language models from various providers, like OpenAI and Google, within their own private, secure networks.

    9. Salesforce (NYSE:CRM)

    Market cap: US$252.86 billion
    Current share price: US$241.73

    Salesforce is a global leader in cloud-based customer relationship management software. In 2023, the company announced a strategy to embed generative AI across its entire product portfolio to transform how businesses interact with their customers.

    In early 2025, Salesforce announced the retirement of its Einstein Copilot brand in favor of a new name, Agentforce, a fully autonomous AI agent that can handle complex, multi-step tasks across a company’s sales, service and marketing operations. The company has reported that AI agents are handling up to 50 percent of customer support conversations, which has led to a significant workforce restructuring.

    10. Cisco Systems (NASDAQ:CSCO)

    Market cap: US$268.49 billion
    Current share price: US$67.80

    Multinational digital communications firm Cisco Systems is a leader in IT and communications networks. Its strategy focuses on providing the hardware, software and security solutions enterprises need to build and deploy their own AI applications. The company has a large portfolio of multi-cloud products and applications, alongside strong relationships with Azure, AWS, Nvidia and Google Cloud.

    Cisco’s AI and machine learning offerings encompass a wide range of computing solutions for enterprises, including a focus on cybersecurity. Cisco has also brought to market new generative AI tools for IT professionals, including its own AI Assistant.

    In January, the company introduced Cisco AI Defense, an end-to-end solution that protects against the misuse of AI tools, data leakage and sophisticated threats beyond the capabilities of older security systems.

    Generative AI stocks to watch

    The following companies have not yet reached the market capitalization of our top 10, but are each worth billions of dollars and have made some amazing achievements in generative AI technology in their own right, making them interesting prospects for investors.

    In alphabetical order, they are:

    • C3.ai, a company providing software as a service products to the financial and oil and gas industries. Its partnership with Alphabet allows C3.ai generative AI applications to be available on Google Cloud.
    • DynaTrace, a data-analysis company that provides real-time feedback on IT infrastructure for various companies using its generative AI assistant, Davis.

    FAQs for generative AI

    What is generative AI?

    Generative AI is an emerging AI technology based on deep learning models and algorithms that can generate text, images or sounds in response to prompts given by users.

    What are generative AI examples?

    Some of the most notable examples of generative AI are ChatGPT, DALL-E 2, Midjourney, Stable Diffusion, Gemini, Copilot and DeepSeek.

    OpenAI’s DALL-E 2 is an AI system that can create realistic images and art from a description in natural language. Similar to DALL-E 2, Midjourney generates images from prompts. Stable Diffusion is a latent text-to-image diffusion model capable of generating photo-realistic images given any text input. Microsoft’s Copilot is a feature of the Bing search engine that leverages the same technology as ChatGPT.

    What are the hottest generative AI startups?

    According to technology and business magazine e-Week, in addition to ChatGPT creator OpenAI, some of the other leading generative AI startups include Hugging Face, Synthesis AI, Jasper and Cohere.

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

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    Aurum Resources

    Investor Insights

    Aurum Resources offers a compelling value proposition through its highly prospective gold assets in Côte d’Ivoire, a fast-emerging gold region in West Africa. Its cost-effective exploration strategy of drill rig ownership also distinguishes it from its peers.

    Overview

    Aurum Resources (ASX:AUE) is a mineral exploration company primarily focused on gold through its Boundiali and Napié gold projects in Côte d’Ivoire, West Africa.

    Côte d’Ivoire’s gold mining sector is experiencing significant growth and development, with several key projects contributing to the country’s economic expansion. The overall gold mining sector in Côte d’Ivoire is supported by substantial investments in infrastructure and exploration.

    Geopolitically, Côte d’Ivoire outperforms most developing countries in the world in political, legal, tax and operational risk metrics. Additionally, Côte d’Ivoire continues to make notable strides in its political stability and Absence of Violence and Terrorism Index.

    Boundiali Gold Project – BD Target 1 Artisanal Working

    In March 2025, Aurum completed the acquisition of 100 percent of Mako Gold, bringing together its strong balance sheet and industry-leading drilling efficiencies to accelerate resource growth across northern Côte d’Ivoire. The company now holds a 90 percent interest in the highly prospective Napié Project, a 224 sq km land package with a 30 km strike near Korhogo.

    Aurum has delivered a major milestone in 2025 with a +50 percent increase in the JORC Mineral Resource Estimate at its Boundiali Gold Project in Côte d’Ivoire, adding 820koz for a total of 2.41Moz. This lifts the company’s group resources to 3.28Moz, including Napié, highlighting the scale and growth potential of Aurum’s portfolio.

    Supported by a seasoned board and management team with deep gold sector expertise—and strengthened by its recent capital raising—Aurum is well-funded to expand resources and advance development plans that drive long-term shareholder value.

    Company Highlights

    • 3.28Moz and Growing in Côte d’Ivoire: Two cornerstone gold projects — Boundiali (2.41Moz) and Napié (0.87Moz) — positioned for rapid growth with multiple resource updates and development milestones in 2025–2026.
    • Outstanding Metallurgy = Simple, Profitable Processing: Boundiali delivers free milling ore with 95 percent recoveries and a straightforward flowsheet, while Napié achieves +94 percent recoveries in tests, showcasing strong economics and low technical risk.
    • Aggressive, Cost-Effective Growth Strategy: In-house drill fleet drives efficiency and scale: 100,000m at Boundiali and 30,000m at Napié planned in 2025.
    • Premier Mining Jurisdiction: Located in Côte d’Ivoire’s prolific Birimian Greenstone Belt, backed by a stable, supportive government and excellent infrastructure—creating the right conditions for mine development success.
    • Leadership with a Proven Track Record: A seasoned management team with a history of value creation, supported by committed shareholders who back the company’s long-term growth vision.

    Key Projects

    Boundali Gold Project

    The Boundiali gold project in Cote d’Ivoire is located within the Boundiali Greenstone Belt, which hosts Resolute’s Syama gold operation (11.5 Moz) and the Tabakoroni deposit (1 Moz) in Mali. Neighbouring assets also include Barrick’s Tongon mine (5 Moz) and Montage Gold’s Kone project (4.5 Moz).

    The Boundiali project area covers the underexplored southern extension of the Boundiali belt, where a highly deformed synclinal greenstone horizon traverses finer-grained basin sediments, and to the west, Tarkwaian clastic rocks lie in contact with a granitic margin. The project benefits from year-round road access and excellent infrastructure.

    The first stage of drilling at Boundiali occurred from late October 2023 to end of November 2024 for both the BM and BD tenements (BM1 and BM2; BD1, BD2 and BD3 targets) and was designed to test below-gold-in-soil anomalies oriented along NE trending structures, define new gold prospects and define maiden JORC resources. With over 63,000m diamond holes drilled during this period, Maiden JORC gold resources estimate was delivered in late December 2024.

    Drilling costs are estimated at US$45 per metre, as Aurum owns all of its eight drilling rigs and employs its operators, representing a significant value proposition relative to peers who use commercial drilling companies that charge upwards of $200 per meter. The company believes there is potential for multi-million ounce gold resources to be defined with hundreds thousands meters of drilling over years within the Boundiali Gold Project’s land holding areas.

    The Boundiali gold project comprises four contiguous granted licenses: PR0808 (80 percent interest), PR0893 (80 percent and earning to 88 percent interest), PR414 (100 percent interest), and PR283 (earning to 70 percent interest). Historic exploration at PR0893 includes 93 AC drill holes and four RC holes. Airborne geophysical surveying, geological mapping and extensive soil sampling have also been performed at PR0893, while PR0808 has had 91 RC holes drilled for 6,229 metres along with geochemical analysis and modeling. Detailed geochemical sampling and drilling at PR414 revealed three strong gold anomalies and returned impressive high-grade results.

    In May 2024, Aurum entered a strategic partnership agreement to earn up to a 70 percent interest in exploration tenement PR283, to be renamed Boundiali North (BN). Aurum, through subsidiary Plusor Global Pty Ltd, has partnered with Ivorian company Geb & Nut Resources Sarl and related party (GNRR) to explore and develop the Boundiali North (BN) tenement which covers 208.87sq km immediately north of Aurum’s BD tenement. Further to this agreement,

    Aurum announced it has earned 80 percent project interest after completing more than 20,000 m of diamond core drilling.

    Boundiali Project JORC Mineral Resource Estimate

    Aurum has announced a maiden independent JORC mineral resource estimate of 1.59 Moz gold for its 1,037 sq. km. The Boundiali Gold Project comprises the BST, BDT1 & BDT2, BMT1 and BMT3 deposits. Drilling is ongoing on these deposits, and Aurum has identified other prospects at Boundiali which have yet to be drilled. Since October 2023, the company has completed an extensive 63,927-metre diamond drilling program. This aggressive exploration campaign has rapidly defined a significant gold resource of 50.9 Mt @ 1.0 g/t gold for 1.6 million ounces.

    In August 2025, Aurum announced a 50 percent increase in the JORC Mineral Resource Estimate (MRE). The update adds 820koz, lifting Boundiali’s resource to 2.41Moz and boosting total group resources to 3.28Moz, including Napié. The 2025 MRE covers six deposits, including BST1, BDT1, BDT2, BDT3, BMT1, and BMT3, with drilling ongoing and additional untested targets offering strong growth potential.

    Aurum is working towards completing an open pit PFS for the Boundiali Gold Project by the end of 2025. This will provide an evaluation of the project’s economics and technical feasibility.

    Napié Gold Project

    Aurum holds a 90 percent interest in the Napié Project in north-central Côte d’Ivoire, acquired through its takeover of Mako Gold. Located approximately 30 km southeast of Korhogo, the project covers a 224 sq km land package with a 30 km strike length along the highly prospective Napié Shear Zone.

    As of June 2022, Napié hosts a JORC 2012 Mineral Resource Estimate of 868,000 ounces of gold (22.5 Mt at 1.20 g/t Au), based on the Tchaga and Gogbala deposits—two of four known prospects along the shear. To date, only 13 percent of the Napié Shear has been explored, leaving substantial potential for further discoveries.

    Napié Project – Previous results with detailed mapping area on Komboro Prospect shown in black rectangle

    Project Highlights:
    • Gold Resource: Shallow open pit 0.87Moz JORC Resource at 1.20g/t Au, with mineralisation open along strike and at depth. Maximum resource depth between 160 m – 195m across the two deposits
    • Exploration Upside: Less than 13 percent of the 30 km Napié Shear has been explored, offering significant potential for resource growth.
    • Preliminary Recovery Test Work: Returned more than 94 percent average gold recoveries.
    • Resource Growth Target: First MRE update planned end of 2025, to significantly expand the resource base.
    • Infrastructure: Excellent access to hydroelectricity, roads, and water, supporting future development.

    Management Team

    Troy Flannery – Non-executive Chairman

    Troy Flannery has more than 25 years’ experience in the mining industry, including nine years in corporate and 17 years in senior mining engineering and project development roles. He has a degree in mining engineering, masters in finance, and first-class mine managers certificate of competency. Flannery has performed non-executive director roles with numerous ASX listed companies and was the CEO of Abra Mining until October 2021. He has worked at numerous mining companies, mining consultancy and contractors, including BHP, Newcrest, Xstrata, St Barbara Mines and AMC Consultants.

    Dr. Caigen Wang – Managing Director

    Dr. Caigen Wang founded Tietto Minerals (ASX:TIE), where he led the company as managing director for 13 years through private exploration, ASX listing, gold resource definition, project study and mine building to become one of Africa’s newest gold producers at its Abujar gold mine in Côte d’Ivoire. He holds a bachelor, masters and PhD in mining engineering. He is a fellow of AusIMM and a chartered professional engineer of Institution of Engineer, Australia. Wang has 13 years of mining academic experience in China University of Mining and Technology, Western Australia School of Mine and University of Alberta, and over 20 years of practical experience in mining engineering and mineral exploration in Australia, China and Africa. Other professional experience includes senior technical and management roles in mining houses, including St. Barbara, Sons of Gwalia, BHP Billiton, China Goldmines PLC and others.

    Mark Strizek – Executive Director

    Mark Strizek has nearly 30 years’ experience in the resource industry, having worked as a geologist on various gold, base metal and technology metal projects. He brings invaluable geological, technical and development expertise to Aurum, most recently as an executive director at Tietto Minerals’, which progressed from an IPO to gold production at the Abujar gold project in West Africa. Strizek has worked as an executive with management and board responsibilities in exploration, feasibility, finance, and development-ready assets across Australia, West Africa, Asia, and Europe.

    Steve Zaninovich – Non-Executive Director

    Ateve Zaninovich is a qualified engineer with over 25 years of experience in mining project development, business development, maintenance, and operational readiness, with a focus on gold, base metals, and lithium. He is currently director of operations at Kodal Minerals, where he is responsible for advancing the Bougouni Lithium Project. His previous roles include project director at Lycopodium Minerals for the Akyem Gold Project in Ghana and chief operating officer at Gryphon Minerals. Following Gryphon’s acquisition by Teranga Gold Corporation, he became vice-president of major projects and a member of Teranga’s executive management team.

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    Altech Batteries LtdBearer Bond Funds Received

    Perth, Australia (ABN Newswire) – Altech Batteries Limited (ASX:ATC,OTC:ALTHF) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce that it has received EUR1M in funds from the remaining Bearer Bond facility in place with major shareholder Deutsche Balaton. The original facility was for EUR2.5M and this has now been adjusted by mutual agreement to EUR2M. The full EUR2M has now been drawn down.

    As announced to the ASX on 25 March 2025, the Company advised that it is in the process of selling its Malaysian land to help fund the ongoing development of the CERENERGY(R) battery project and the Silumina Anodes(TM) battery materials project, as well as to support general working capital requirements.

    The Company also announced that it had entered into a binding Bond Note Subscription Deed with its major shareholder Deutsche Balaton AG, under which Altech could drawdown up to EUR2.5M in cash in the form of interest-bearing Bearer Bonds.

    As the Bond Note Subscription Deed involved the Company granting a security interest over the Company’s Malaysian land, shareholder approval was required. The Company convened a General Meeting on 13 May 2025 and shareholders approved all Resolutions put to the General Meeting. The Company then applied to have the Malaysian land security registered with the relevant land authority, being Johor Corp. Although there were no laws or regulations precluding Johor Corp from registering the land security, it considered Deutsche Balaton AG a ‘non-lending foreign entity’ and advised that accordingly it was not comfortable in registering the land security.

    The Company’s wholly owned subsidiary Altech Chemicals Sdn. Bhd. is the holder of the lease agreement over the Malaysian land. The only asset of value within Altech Chemicals Sdn. Bhd. is the lease agreement over the Malaysian land. In order to provide the security to Deutsche Balaton AG so as to drawdown the Bearer Bonds, the Company enforced security over the shares of Altech Chemicals Sdn. Bhd. in favour of Deutsche Balaton AG in lieu of the land security.

    On 20 August 2025, the Company’s wholly owned subsidiary Altech Chemicals Australia Pty Ltd (shareholder of Altech Chemicals Sdn. Bhd.) executed a Share Charge with Deutsche Balaton AG in connection with the Bond Note Subscription Deed. Pursuant to the Share Charge, Altech Chemicals Australia Pty Ltd has offered as a continuing Security for the due and punctual payment of all the requirements of the Bond Note Subscription Deed, charged all its rights, title and interest to all of the shares held in Altech Chemicals Sdn. Bhd. in favour of Deutsche Balaton AG. The Security is a continuing security and will extend to the ultimate balance of the due and punctual payment of all the requirements of the Bond Note Subscription Deed.

    On 20 August 2025, the Company executed an Amendment Deed to the Bond Note Subscription Deed. Under the terms of the Amendment Deed, the agreed amount of bonds available to be drawdown was reduced from EUR2.5M to EUR2.0M. Additionally, the Company’s Meckering land was offered as additional security for the due and punctual payment of all the requirements of the Bond Note Subscription Deed.

    Altech Meckering Pty Ltd, the Company’s wholly owned subsidiary and holder of the Meckering land, has entered into a mortgage over the Meckering Land in favour of Deutsche Balaton AG as a continuing Security for the due and punctual payment of all the requirements of the Bond Note Subscription Deed.

    About Altech Batteries Ltd:

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

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

    Source:
    Altech Batteries Ltd

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

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

    News Provided by ABN Newswire via QuoteMedia

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    Alvopetro Energy

    Investor Insight

    Brazil’s expanding natural gas market, supported by an attractive and stable regulatory framework and fiscal regime, presents a unique opportunity for Alvopetro Energy to leverage its high-potential upstream and midstream assets. In early 2025, Alvopetro also announced a strategic entry into Western Canada focused on the prolific Mannville stack play fairway in Saskatchewan. With capital investment opportunities in Canada and Brazil, Alvopetro is on the pathway for long-term growth.

    Overview

    Alvopetro Energy (TSXV:ALV;OTCQX:ALVOF) is an independent energy company focused on unlocking onshore natural gas in Brazil while expanding its footprint into Canada. The company is recognized as Brazil’s first integrated onshore natural gas producer, having established a unique model that combines upstream production, midstream infrastructure and long-term sales agreements with stable pricing linked to Brent and Henry Hub benchmarks.

    Since commencing production in 2020, Alvopetro has delivered strong operating results, sector-leading netbacks and consistent dividends. With a disciplined capital allocation strategy, approximately half of the cash flow from operations has been reinvested in organic growth, while the remainder has been returned to shareholders through dividends, debt reduction and share repurchases. This balance has underpinned exceptional shareholder returns, including a cumulative 1,495 percent total shareholder return since 2018.

    Alvopetro’s growth is anchored by two pillars: its high-margin natural gas business in the Recôncavo Basin of Bahia, Brazil, and its newly established Western Canadian heavy oil platform. Together, these assets provide a diversified base of production and reserves, supporting near-term growth and long-term value creation.

    Headquartered in Calgary, Canada, and operating in Salvador, Brazil, Alvopetro is led by a proven management team with extensive international oil and gas experience. The company is committed not only to profitable growth but also to sustainable development, investing in local communities through education, entrepreneurship, cultural programs and biodiversity initiatives.

    Company Highlights

    • Alvopetro is a leading independent upstream and midstream gas operator in the state of Bahia, Brazil.
    • The company’s growth strategy targets opportunities with the best combinations of geological prospectivity and fiscal regime. In Brazil, Alvopetro is focused on unlocking Brazil’s on-shore natural gas potential, building off the development of its Caburé and Murucututu natural gas fields strategic midstream infrastructure. In Canada, four wells have been drilled and are on production and Alvopetro has expanded its land base with potential for over 100 drilling locations.
    • Over 95 percent of Alvopetro’s Brazil production is from natural gas and the company has a 2P reserve base of 9.1 million barrels of oil equivalent (MMboe) with a before-tax NPV10 of $327.8 million.
    • The company generates highly attractive operating netbacks and profitability per unit of production, setting it apart from its Latin American and North American peers. The state of Bahia boasts a favorable fiscal regime with low royalties and Alvopetro’s projects are eligible for a 15 percent income tax rate.

    Key Projects

    Caburé

    The company’s flagship Caburé asset has historically delivered the majority of the company’s production. The project is a joint development of a conventional natural gas discovery across four blocks, two held by Alvopetro and two by its partner.

    Following the first redetermination in 2024, Alvopetro’s working interest in Cabure increased to 56.2 percent, entitling the company to a larger share of production. The unitized area includes eight producing wells and all necessary production facilities. Gross unit production capacity has increased by 33 percent to 21.2 million cubic feet per day (MMcfpd), and an ongoing development program includes five additional wells, four of which have already been drilled.

    Murucututu Gas

    Immediately north of Caburé, Murucututu is a 100 percent owned Alvopetro asset with significant growth potential. Independent reserves evaluators have assigned 2P reserves of 4.6 MMboe, with an additional 4.5 MMboe of risked best estimate contingent resources and 10.2 MMboe of risked best estimate prospective resources.

    The company successfully completed the 183-A3 well in 2024 and drilled the 183-D4 well updip of the 183-A3 well in 2025, bringing the 183-D4 well online in August 2025, which achieved initial production of 953 barrels of oil equivalent per day (boepd). With field production facilities already in place, Alvopetro plans a multi-year development program targeting both the Gomo and Caruaçu formations, including at least six more development wells.

    Midstream – Infrastructure and marketing

    Alvopetro owns and operates all of the key infrastructure needed to process and deliver its natural gas. Production from Caburé and Murucututu is transported via Alvopetro’s 11-kilometre transfer pipeline to its UPGN gas processing facility, which has a capacity of more than 18 MMcfpd.

    At the UPGN, condensate and water are removed, with condensate sold at a premium to Brent. Processed natural gas is delivered to the Bahiagás city gate, with onward transportation through a 15-kilometre distribution pipeline into Bahia’s Camacari industrial complex. Under the long-term gas sales agreement with Bahiagás, pricing is set quarterly based on Brent and Henry Hub benchmarks. An updated agreement, effective January 1, 2025, increased firm sales volumes by 33 percent, further securing Alvopetro’s cash flow stability.

    Western Canadian Growth Platform

    Beyond Brazil, Alvopetro has expanded its global footprint into North America with the establishment of a new heavy oil growth platform in Western Canada. The company holds a 50 percent working interest in 27.5 sections (8,890 net acres) of Mannville conventional heavy oil lands in Alberta and Saskatchewan, in partnership with an experienced operator, where we are deploying leading edge open hole multilateral drilling technology:

    The diagram above depicts the evolution of drilling technology to develop a ¼ section of land. On the far left, traditional development would have required 32 vertical wells. Technology then advanced to horizontal wells, as depicted in the middle of the diagram with 4 separate wells. Today, multilateral drilling technology (as depicted on the far right) allows for just a single well with 6+ open-hole lateral legs developing the ¼ section of land. Alvopetro’s first 2 wells drilled in Saskatchewan each included 6 lateral legs. A total of 15 km of open-hole horizontal legs were drilled.

    The Mannville stack is a multi-zone fairway with shallow depths, lower geological risk and attractive drilling economics. The first two earning wells were drilled with more than 15 km of open hole and brought into production in April 2025. Two additional wells were drilled in Big Gully in July 2025, with more than 19 km of open hole, with oil sales from the new wells are expected to commence in September 2025.

    With the potential for more than 100 drilling locations, the Canadian platform provides Alvopetro with a complementary source of long-term production growth.

    Management Team

    Corey C. Ruttan – President, Chief Executive Officer and Director

    Corey C. Ruttan is the president, chief executive officer and director of Alvopetro. He was the president and CEO of Petrominerales, from May 2010 until it was acquired by Pacific Rubiales Energy in November 2013. Prior to that, he was the vice-president of finance and chief financial officer of Petrominerales. From March 2000 to May 2010, Ruttan was the senior vice-president and chief financial officer of Petrobank Energy and Resources, and held increasingly senior positions with Petrobank since its inception in 2000. He also served as executive vice-president and chief financial officer of Lightstream Resources from October 2009 to May 2010; served as vice-president of Caribou Capital from June 1999 to March 2000; and manager financial reporting of Pacalta Resources from May 1997 to June 1999. He began his career at KPMG where he worked from September 1994 to May 1997. Ruttan obtained his Bachelor of Commerce degree majoring in accounting from the University of Calgary in 1994 and his chartered accountant designation in 1997.

    Alison Howard – Chief Financial Officer

    Alison Howard is a chartered accountant with over 20 years of experience in Canadian and international taxation, accounting and finance. Howard joined Petrominerales in July 2011 as a tax manager and was subsequently promoted to tax director. From May 2008 to July 2011, Howard was the tax manager at Petrobank Energy and Resources. Prior to that, Howard spent a number of years at Deloitte LLP in Calgary. She obtained her Bachelor of Commerce degree from the University of Saskatchewan in 1999.

    Adrian Audet – VP, Asset Management

    Adrian Audet joined Petrominerales in 2013 and has held increasingly senior roles with Alvopetro since its inception. Audet has spent extensive time in Bahia overseeing the operations, realizing extensive cost savings and improvements in efficiency. Previously, Audet held engineering roles with increasing responsibility in the oil and gas industry. Audet began his career in 2006 and completed his masters and undergraduate degrees in mechanical engineering at the University of Alberta. Audet is a professional engineer registered with APEGA and is a CFA charterholder.

    Nanna Eliuk – Exploration Manager

    Nanna Eliuk is a professional geophysicist (M.Sc.) with over 23 years of diversified petroleum exploration and development experience. She has expertise in conventional and unconventional plays in both carbonate and clastic reservoirs in different depositional and structural settings (including pre-salt) in various basins around the world. Prior to joining Alvopetro, Eliuk was the senior explorationist of Condor Petroleum (Kazakhstan) for two years, and prior thereto, she was the vice-president of geophysics and land for Waldron Energy. Eliuk started her career in 1997, holding progressively senior roles at Husky Energy for five years, and at Compton Petroleum for over six years. Her extensive experience includes geophysical evaluation and analysis for business development opportunities and new ventures in various international basins, along with regional mapping, play fairway analysis, petroleum system evaluation, prospect definition, and seismic attribute analysis. Eliuk holds a masters degree in geology and geophysics, and a BSc. in geology.

    Darcy Reynolds – Western Canadian Business Unit Lead

    Darcy Reynolds, P.Geo is the Western Canadian Business Unit Lead with over 20 years of subsurface and asset evaluation experience across Western Canada. For the past 12 years, Reynolds has focused on heavy oil development, including horizontal multilateral wells, enhanced oil recovery (waterflood, polymer, CO₂), and thermal SAGD projects. He has held senior leadership and technical roles at Rubellite Energy (senior geologist), Cenovus Energy (geoscience director), Husky Energy (geoscience director), and Talisman Energy (geology manager). Reynolds holds a B.Sc. in Geology from the University of Alberta and is a registered professional geoscientist with APEGA

    Frederico Oliveira – Country Manager

    Frederico Oliveira has held increasingly senior roles since 2008 and has expertise in regulations, contracts, partnerships, management and cost efficiency. He has held management roles in large private companies in Brazil, performing strategic planning, project implementation, process restructuring, efficiency and productivity improvements, and cost control. Oliveira obtained an MBA from the Federal University of Minas Gerais in 2004 and a Bachelor of Science degree in Mechanical Engineering from the Pontificia Universidade Catolica de Minas Gerais.

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    Trump family’s American Bitcoin makes stock market debut

    Shares in the Trump family’s latest cryptocurrency made its stock market debut Wednesday, triggering more ethical concerns as the Trumps look to cash in on crypto as the president’s administration weakens regulations for the nascent industry.

    American Bitcoin, a firm co-founded this spring by Eric Trump, the president’s son, saw its share price climb as much as 39% by early afternoon to about $9.60.

    It ended the day at $8.04, lower than its opening price of $9.22.

    According to a release, the company is set up to accumulate bitcoin through computer “mining” of the cryptocurrency, as well as “opportunistic bitcoin purchases.” By owning a share of American Bitcoin, investors are betting that the company will be able to grow its bitcoin holdings faster than competitors. It also assumes bitcoin’s price will keep going up.

    American Bitcoin’s stock debut is renewing ethics concerns about the Trump family’s ability to benefit from the president’s influence on the crypto industry, where it is increasingly seeing windfalls.

    On Monday, the first public sales of a digital token minted by World Liberty Financial, a crypto firm co-founded by the Trump family, created as much as $5 billion in paper wealth for them and other insiders based on existing holdings. Last week, Trump Media and Technology Group, the parent company of President Donald Trump’s Truth Social platform, announced it had struck a deal with Crypto.com to accumulate Crypto.com’s native token Cronos, or CRO. Since the announcement, the value of CRO has climbed about 69%.

    Shortly before 1 p.m, the value of Eric Trump’s American Bitcoin stake had climbed to as much as $600 million, according to calculations by Bloomberg News. Donald Trump Jr. also owns a stake, though its extent was not immediately clear. A representative for Trump Jr. did not respond to a request for comment.

    “There’s no question there’s a conflict of interest here,” said Virginia Canter, chief counsel for ethics and anticorruption with the Democracy Defenders Action group, a bipartisan advocacy group that seeks to oppose authoritarianism. Canter served as a legal adviser in four different presidential administrations. Beyond having the ability to appoint regulators charged with overseeing the crypto industry, Trump can also create an uneven playing field for other crypto market participants who might believe they may pay a price for competing with his entities — or failing to engage with them, Canter said.

    In a post on X last night, Sen. Elizabeth Warren, D-Mass., said of the start of American Bitcoin’s stock trading: “it’s corruption, plain and simple.”

    A representative for the Trump Organization did not respond to a request for comment about the ethics concerns.

    Estimates about how much President Trump and his family have earned from their crypto ventures vary. Reuters calculated that they made as much $500 million from the World Liberty decentralized finance platform, which debuted last year.

    The figure is a moving target. In May, Zach Witkoff, a World Liberty co-founder and the son of White House Middle East envoy Steve Witkoff, announced that an Abu Dhabi-based firm had purchased $2 billion-worth of World Liberty’s stablecoin as part of an investment in the Binance crypto exchange. In July, Trump Media announced it had accumulated roughly $2 billion in bitcoin and related assets, accounting for about two-thirds of Trump Media’s total liquid assets. The Donald J. Trump Revocable Trust, a financial instrument Trump created in advance of returning to the Oval Office, owns 52% of Trump Media.

    The group that created Trump’s memecoin, $TRUMP, earned $350 million from initial sales, the Financial Times reported in March, though its ownership structure and Trump family members’ direct stakes are unclear.

    The White House has maintained that the president is not involved in the day-to-day affairs of Trump family businesses. Some ethics experts have argued that presidents are exempt from conflict-of-interest laws because they oversee too many areas to make enforcement practical.

    In a statement, the White House blasted any insinuation of a conflict of interest.

    “The media’s continued attempts to fabricate conflicts of interest are irresponsible and reinforce the public’s distrust in what they read,” White House press secretary Karoline Leavitt said. “Neither the President nor his family have ever engaged, or will ever engage, in conflicts of interest.” She said the administration “is fulfilling the President’s promise to make the United States the crypto capital of the world by driving innovation and economic opportunity for all Americans.”

    At a conference last week, Eric Trump said the bitcoin community had embraced his father “unlike anything I had ever seen before.” Since then, the crypto industry has become one of the most influential players in politics: Its super PAC, Fairshake, was the largest-single donor group during the 2024 election and has already accumulated $140 million in advance of next year’s midterms, Politico reported.

    The Trump brothers have announced a flurry of business moves since their father took office that parallel the president’s policies and agenda. Last month, they announced they would serve as advisers to New America, a firm that aims to buy businesses that “play a meaningful role in revitalizing domestic manufacturing, expanding innovation ecosystems, and strengthening critical supply chains.”

    The brothers are receiving a combined 5 million shares in the company, which seeks to raise $300 million from investors in advance of going public.

    This post appeared first on NBC NEWS

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    Apple has survived Trump’s tariffs so far. It might raise iPhone prices anyway.

    When Tim Cook gifted President Donald Trump a gold and glass plaque last month, the Apple CEO was hailed by Wall Street for his job managing the iPhone-maker’s relationship with the White House.

    Cook, Wall Street commentators said, had largely navigated the threat of tariffs on Apple’s business successfully by offering Trump an additional $100 billion U.S. investment, a win the president could tout on American manufacturing. But despite the 24-carat trophy Cook handed Trump, the true costs of those tariffs may finally show up for Apple customers later this month.

    “Thank you all, and thank you President Trump for putting American innovation and American jobs front and center,” Cook said at the event, which brought Apple’s total planned spend to $600 billion in the U.S. over the next five years. Trump, at the event, said that Apple would be exempt from forthcoming tariffs on chips that could double their price.

    But as Apple prepares to announce new iPhones on Tuesday, some analysts are forecasting the company to raise prices on its devices even after all Cook has done to avoid the worst of the tariffs.

    “A lot of the chatter is: Will the iPhone go up in price?” said CounterPoint research director Jeff Fieldhack.

    Although smartphones haven’t seen significant price increases yet, other consumer products are seeing price increases driven by tariffs costs, including apparel, footwear, and coffee. And the tariffs have hit some electronics, notably video games — Sony, Microsoft and Nintendo, have raised console prices this year in the U.S.

    Some Wall Street analysts are counting on Apple to follow. Jeffries analyst Edison Lee baked in a $50 price increase into his iPhone 17 average selling price projections in a note in July. He’s got a hold rating on Apple stock.

    Goldman Sachs analysts say that the potential for price increases could increase the average selling price of Apple’s devices over time, and the company’s mix of phones have been skewing toward more expensive prices.

    Analysts expect Apple to release four new iPhone models this month, which will likely be named the “iPhone 17” series. Last year, Apple released four iPhone 16 models: the base iPhone 16 for $829, the iPhone 16 Plus at $899, the iPhone 16 Pro at $999 and the iPhone 16 Pro Max at $1,199.

    This year, many supply chain watchers expect Apple to replace the Plus model, which has lagged the rest of the lineup, with a new, slimmer device that trades extra cameras and features for a thinner, lighter body.

    The “thinner, lighter form factor may drive some demand interest,” wrote Goldman analysts, but tradeoffs like battery life may make it hard to compete with Apple’s entry-level models.

    Analysts have said they expect the slim device to cost about $899, similar to how much the iPhone 16 Plus costs, but they haven’t ruled out a price bump. That would still undercut Samsung’s thin Galaxy Edge, which debuted earlier this year at $1,099.

    Apple did not respond to a request for comment.

    When Trump announced sweeping tariffs on China and the rest of the world in February, it seemed like Apple was in the crosshairs.

    Apple famously makes the majority of its iPhones and other products in China, and Trump was threatening to place tariffs that could double Apple’s costs or more. Some of Trump’s so-called “reciprocal” tariffs would hit countries like Vietnam and India where Apple had hedged its production bets.

    But seven months later, Apple has weathered the tariffs better than many had imagined.

    The U.S. government has paused the most draconian Chinese tariffs several times, smartphones got an exemption from tariffs and Cook in May told investors that the company was able to rearrange its supply chain to import iPhones to the U.S. from India, where tariffs are lower.

    Cook also successfully leaned on his relationship with Trump, visiting him in White House and taking his side in August, when Cook presented the shiny keepsake to Trump. That commitment bolstered Trump’s push to bring more high-tech manufacturing to the U.S. In exchange, Trump said he would exempt Apple from a forthcoming semiconductor tariff, too. And Trump’s IEEPA tariffs were ruled illegal in late August, although they are still in effect.

    Apple hasn’t completely missed the tariff consequences. Cook said the company spent $800 million on tariff costs in the June quarter, mainly due to the IEEPA-based tariffs on China. That was less than 4% of the company’s profit, but Apple warned it could spend $1.1 billion in the current quarter on tariff expenses.

    After months of eating the tariff costs itself, Apple may finally pass those costs to consumers with this month’s launch of the iPhone 17 models.

    Apple has been judicious about hardware price increases in the U.S. The smaller Pro phone, for example, hasn’t gotten a price increase since its debut in 2017, holding at $999. But Apple has made some price changes.

    The company raised the price of its entry level phones from $699 to $829 in 2020. And in 2022 when Apple eliminated the smaller iPhone Mini that started at $699, the company replaced it with the bigger-screen Plus that costs $899. The Pro Max also got a hike in 2023 when Apple bumped it from $1,099 to its current price of $1,199.

    If Apple does increase prices on its phones this year, don’t expect management to blame tariffs.

    The average selling price of smartphones around the world is rising, according to IDC. The price of smartphone components, such as the camera module and chips, have been increasing in recent years.

    Apple is much more likely to focus on highlighting its phones’ new features and quietly note the new price. Analysts expect the new iPhones to have larger screens, increased memory and new, faster chips for AI.

    “No one’s going to come out and say it’s related to tariffs,” said IDC analyst Nabila Popal.

    One way that Apple could subtly raise prices is by eliminating the entry-level version of its phones, forcing users to upgrade to get more storage at a higher starting price. Apple typically charges $100 to double the amount of the iPhone’s storage from 128GB to 256GB.

    That’s what JPMorgan analysts expect Apple to announce next week.

    They forecast that Apple will leave the prices of the entry level and high-end Pro Max models alone, but they wrote that they expect the company to eliminate the entry-level version of the Pro, meaning that users will have to pay $1,099 for an iPhone 17 Pro that has more starting-level storage than its predecessor. That’s how Apple raised the price of the entry-level Pro Max in 2023.

    “However, with Apple’s recent announcements relative to investments in US, the assumption is that the company will largely be shielded from tariffs, driving expectations for limited pricing changes except for those associated with changes in the base storage configuration for the Pro model,” wrote JP Morgan analyst Samik Chatterjee.

    When Cook was asked about potential Apple price increases on an earnings call in May, he said there was “nothing to announce.”

    “I’ll just say that the operational team has done an incredible job around optimizing the supply chain and the inventory,” Cook said.

    This post appeared first on NBC NEWS

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