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The South African government has launched a rescue operation at an abandoned gold mine in the country’s North West province, where at least 109 men have died, a group representing the miners said, after local authorities cut off vital supplies in a dramatic bid to crack down on the country’s illegal mining trade.

As of Tuesday evening, at least 51 bodies and 66 survivors had been pulled out of the Stilfontein mine, according to South African police, with many more feared trapped inside.

While estimates varied on how many men were in the mine, Meshack Mbangula, head of the Mining Affected Communities United in Action (MACUA), had earlier estimated that 500 people were trapped underground.

The video, filmed by one of the miners last week, according to Mbangula, also shows shirtless, emaciated-looking men with protruding bones and ribs.

A man speaking in Zulu, pleads to be rescued in one scene. Another man says: “How many days must we live in a situation like this.”

“Please take us out. Please assist us to come out or if not, please give us food because [there are] people who are dead. We’ve got 109 people dead and we need plastic to wrap them because the smell is too much, we can’t stand the smell,” the miners said in the letter.

Community-led groups like MACUA say they have led the effort to help the trapped miners for months, he said, as police cut off food and vital supplies to the men in November in an attempt to force them out and close the mine.

The police’s move – a self-described crackdown on the illegal mining industry – has drawn criticism from community groups and South Africa’s Federation of Trade Unions (SAFTU), who in November called it “vindictive,” and one that may “end in a tragedy.”

Police spokesperson Athlenda Mathe told reporters in November that food and water supplies to those underground had been halted. “We are stopping and preventing food and water to go down there as a way of forcing these illegal miners to resurface because what they are doing is criminality,” she said.

Miners would face arrest upon resurfacing, according to police.

In November, a South African court ordered police to halt its standoff, provide food to the trapped miners and allow rescue teams to access the mine. The nation’s Human Rights Commission (SAHRC) also said it was investigating the police service for halting vital supplies to the miners.

On Sunday, facing intensifying public pressure and reports that many of the miners had already died, the Department of Mineral Resources and Energy said it had begun plans to conduct a rescue operation at the abandoned shaft. The mineral resources department said “the decision to deploy rescue services was made independently” and not mandated by a court.

South Africa harbors up to 100,000 artisanal miners, known locally as “zama zamas” with most of the minerals derived from artisanal mining “sold to the black market, and international illicit mineral traders,” according to SAFTU.

The nation also loses more than $1 billion to illegal mining annually, with the black market trade in gold linked to violent turf wars, according to a parliamentary brief.

This post appeared first on cnn.com

Russia’s military on Tuesday said it would retaliate against Ukraine after Kyiv attacked Russian regions by firing six US-made ATACMS ballistic missiles, six UK-made Storm Shadow cruise missiles and launching one of the biggest drone attacks to date.

After Ukraine first launched ATACMS and British Storm Shadow missiles into Russia last year, Moscow responded on Nov. 21 by launching a new intermediate-range hypersonic ballistic missile known as “Oreshnik”, or Hazel Tree, at Ukraine.

Russia’s defence ministry said it had shot down all of the Western missiles fired by Ukraine at the Bryansk region, as well as 146 drones outside the war zone. It said two more Storm Shadows had been shot down over the Black Sea.

“The actions of the Kyiv regime, supported by its Western curators, will not go unanswered,” the defence ministry said.

The Ukrainian General Staff said it had struck as deep as 1,100 km (680 miles) inside Russia, targeting oil storage, refinery, chemical and ammunition plants in the Bryansk, Saratov, Tula and Tatarstan regions.

Kyiv did not say exactly how it struck the targets, but said that drone and missile forces were among the units involved in the attack.

Russian President Vladimir Putin said in November that the Ukraine war was escalating towards a global conflict after the United States and Britain allowed Ukraine for the first time to launch their missiles deep inside Russia.

President-elect Donald Trump has pushed for a ceasefire and negotiations to end the war quickly, leaving Washington’s long-term support for Ukraine in question.

Russia’s 2022 invasion of Ukraine has left tens of thousands of dead, displaced millions and triggered the biggest crisis in relations between Moscow and the West since the 1962 Cuban Missile Crisis.

Drone attack

The drone attack on Russia was one of the biggest to date.

Roman Busargin, governor of the Saratov region about 720 km (450 miles) southeast of Moscow, said the cities of Saratov and Engels, on opposite banks of the Volga River, had been subjected to a mass drone attack and there was damage to two industrial sites. Schools had shifted to remote learning, he said.

Ukraine attacked the same region last week and claimed to have struck an oil depot serving an airbase for Russian nuclear bomber planes, causing a huge fire that took five days to put out.

The Ukrainian General Staff said it had hit the Kristall Plant oil storage facility in Engels, part of an operation run by Ukrainian drone units and military intelligence.

The General Staff also said it had struck the Bryansk Chemical Plant, which it said produced ammunition for artillery, multiple launch rocket systems, aviation, engineering ammunition and components for cruise missiles.

The drone attack struck a munitions storage facility holding guided bombs and missiles at the Engels airbase in Russia’s Saratov region as well as other targets, a source in the Security Service of Ukraine said on Tuesday.

The General Staff said attacks on the Saratov Oil Refinery and the Kazanorgsintez plant triggered fires.

This post appeared first on cnn.com

Gold Mountain Limited (ASX: GMN) (“Gold Mountain” or “the Company” or “GMN”) is excited to announce it has received 224 soil samples from the southern section of the Salinas II Project in the Bananal Valley in Brazil. This new data has helped the team define a 14-hole drill program to test 10 high-priority lithium anomalies, some of which are coincident with outcrops of weathered pegmatite. The potential of this emerging Lithium district is highlighted by Latin Resources Collina Lithium Deposit (70.9Mt @ 1.25% Li2O), which lies along regional structural strike from GMN’s Salinas II Project.

Highlights

Work Undertaken

  • Assays received from 100 and 200 metre spaced soil sampling lines with soil samples taken at 50 metre intervals.
  • Lithium anomalies identified over the 1.5 km strike extent of the soil grid with coincident Be, Rb, Sn and Tl anomalies.
  • No lithium anomalies found in areas of laterite however tin anomalies as well as quartz and tourmaline occurrences suggest pegmatite extensions under the laterite.
  • Drill holes defined so environmental permits can be obtained to allow drilling to take place.

Future Workplan

  • Obtain environmental permits for drilling
  • Extra soil lines in the NW of tenement to follow up anomalies previously defined
  • Continue detailed mapping to refine currently identified pegmatite trends
  • Drilling of the lithium targets identified.

Details

Results from exceptionally high value stream sediment sample have been followed up with soil samples and grid based mapping in the southern part of 831.700/2022 and drilling targets had been identified.

Mapping prior to and during soil sampling identifies numerous small pegmatites and some larger pegmatites to a maximum of 10 metres wide. Areas of large quartz boulders, possibly quartz cores to pegmatites, were also mapped and in places are coincident with lithium and lithium pathfinder anomalies. Pegmatites cross cut and are younger than the foliation in the host G3 type granite.

Regional structure from geophysics and from topography shows a strong NE to ENE trend, subparallel to the Latin Resources “Lithium Corridor.” Drilling will be oriented at 90 degrees to the regional trend initially, as the most probable major pegmatite orientation direction.

Strong vertical zonation in the lithium pegmatite geochemical responses are present and close attention to the location of laterite and the old lateritised surface is critical to interpretation of where lithium pegmatites may be concealed by leaching of lithium.

Drill targets were defined by lithium anomalies and by occurrences of pegmatite or extensive float of pegmatite minerals, lithium pathfinder elements, large quartz boulders or anomalous quartz concentrations.

The lateritic weathering zone is estimated from mapping to be up to 50 metres thick within the tenement, but locally may be significantly thicker. Drilling below this weathered layer is essential to get analyses that reflect the actual grade of any pegmatites present. Within the weathering zone low values of lithium are expected from potentially economic pegmatites.

Images & Maps

Figure 1 shows the location of the Salinas Project tenements in relation to Latin resources Collina deposit and to other tenements held by major explorers including Rio Tinto.

Mapping and soil sampling in the western Bananal Valley tenement, 831.700/2022, has defined areas of laterite as well as various larger pegmatite and quartz occurrences.

Figure 2 shows the extensive high order stream sediment target zones in the Bananal valley tenement, with their follow up soil lines and potential pegmatite mineral occurrences, including green tourmaline, indicating highly evolved pegmatites.

Lower order anomalies in the northeast are still considered highly prospective, with lower order results due to more intensive weathering and leaching of surface rocks.

Click here for the full ASX Release

This post appeared first on investingnews.com

Biotech is a dynamic industry that is driving scientific advancements and innovation in healthcare. In Canada, the biotech industry is home to companies pursuing cutting-edge therapies and medical technologies.

According to Grandview Research, the global biotech market is expected to grow at a CAGR of 13.96 percent between 2024 and 2030 to reach a value of US$3.08 trillion.

Data on Canadian biotech stocks was collected on January 14, 2024, using TradingView’s stock screener. Only companies with market capitalizations of over C$50 million at that time were considered. Companies on the TSX, TSXV and CSE were considered, but no TSXV-listed stocks made the list this time. Read on to learn what’s been driving these biotech firms.

1. Bright Minds Biosciences (CSE:DRUG)

Press ReleasesCompany Profile

Year-on-year gain: 2,131 percent
Market cap: C$391.38 million
Share price: C$56.00

Bright Minds Biosciences is focused on developing novel treatments for neuropsychiatric disorders and pain. Its portfolio consists of serotonin agonists designed to target neurocircuit abnormalities that make disorders like epilepsy, post-traumatic stress disorder and depression difficult to treat.

The company’s drugs have been designed to potentially retain the powerful therapeutic aspects of psychedelic and other serotonergic compounds, while minimizing the side effects, thereby creating superior drugs to first-generation compounds such as psilocybin.

Bright Minds is in Phase 2 clinical trials of its candidate BMB-101 in patients with classic absence epilepsy and developmental epileptic encephalopathy.

On October 15, the company’s stock price surged nearly 1,500 percent in a single session. While Bright Minds didn’t have news of its own, the move was likely influenced by global pharmaceutical company Lundbeck’s announcement of intention to acquire Longboard Pharmaceuticals, which has a similar drug candidate. Bright Minds closed a non-brokered private placement that included participation from a group of healthcare investors on November 4, 2024.

2. ME Therapeutics Holdings (CSE:METX)

Company Profile

Year-on-year gain: 369.42 percent
Market cap: C$95.72 million
Share price: C$5.68

ME Therapeutics Holdings is a biotechnology company focused on developing cancer-fighting drug candidates that can increase the efficacy of current immuno-oncology drugs by targeting suppressive myeloid cells, which have been found to hinder the effectiveness of existing immuno-oncology treatments. Immuno-oncology is a relatively new area of cancer drug research and has shown promising results when used to treat cancer with low survival rates.

In December 2023, the company shared research done in collaboration with Dr. Kenneth Harder at the University of British Columbia suggesting ME Therapeutics’ antibody, h1B11-12, successfully blocks a protein that fuels breast and colon cancer growth (G-CSF). Trial planning efforts are ongoing, and the company expects development of a cell line for future production of the drug to be finished in the latter half of 2025.

In addition, the company is part of an ongoing collaborative effort to develop therapeutic MRNA delivery methods to myeloid cells with NanoVation Therapeutics, a biotech company that develops customized nucleic acid and lipid nanoparticle technologies to empower genetic medicine. The collaboration has already resulted in two new MRNA formulations, for which testing began on October 4.

3. Medicenna (TSX:MDNA)

Company Profile

Year-on-year gain: 217.07 percent
Market cap: C$104.81 million
Share price: C$1.30

Medicenna is a clinical-stage immuno-oncology company specializing in the development of innovative therapies for patients with challenging unmet needs. Its focus is on creating novel, highly selective versions of cytokines — small proteins that play a crucial role in regulating immune responses — such as IL-2, IL-4 and IL-13, which it refers to as ‘Superkines’ and ’empowered superkines.’

Interleukins, which Medicenna says are at the core of its therapies, are groups of cytokines. The company’s interleukins are engineered to fuse with specific molecules to optimize their function. Its therapies treat solid tumors, which have a low response rate to conventional cancer treatments, and autoimmune and neuroinflammatory diseases.

Medicenna’s lead candidate, MDNA11, has demonstrated therapeutic activity and an acceptable safety profile during clinical trials of monotherapy dose escalation in treating patients with advanced solid tumors.

On December 5, the company shared a clinical update for its Phase 1/2 ABILITY-1 study, which is testing MDNA11 in combination with Merck’s KEYTRUDA, revealing one patient in the study had a complete response after receiving eight weeks of treatment.

4. Cardiol Therapeutics (TSX:CRDL)

Press ReleasesCompany Profile

Year-on-year gain: 27.86 percent
Market cap: C$149.33 million
Share price: C$1.79

Cardiol Therapeutics is a biopharma company developing innovative treatments for inflammation and fibrosis in cardiovascular conditions. Its research is concentrated on pericarditis, which is inflammation of the membrane surrounding the heart; myocarditis, or inflammation of the heart muscle; and heart failure.

Cardiol currently has two drug candidates in its pipeline. CardiolRx, the company’s lead candidate, received an orphan drug destination in February 2024.

Cardol shared the results of its Phase 2 open-label pilot study of CardiolRx in patients with symptomatic recurrent pericarditis at the American Heart Association Scientific Sessions in November 2024. Findings indicated that CardiolRx significantly reduced pericardial pain in patients, with most experiencing relief within 5 days, and that the benefits were sustained over the extended 26 week study. The treatment also lowered inflammation and prevented recurring episodes, leading to a significant decrease in pericarditis occurrences.

The biotech company is also developing CRD-38, a drug formulation of cannabidiol that is administered subcutaneously for treating heart failure.

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

This post appeared first on investingnews.com

Zinc prices gained more than 16 percent in 2024. While the metal’s value has trended down in the first week of the new year in 2025, experts agree zinc’s long-term fundamentals are healthy.

Many base metals have been hit by weakened demand in recent years due to sticky inflation and higher interest rates, and zinc is no exception. Zinc supply has also faced pressure from higher mining and refining costs, causing some major zinc mines and smelters to suspend operations, with more possible if the current economic situation continues. Once demand rebounds along with the economy, stunted demand may once again push zinc prices higher.

Data was gathered on January 10, 2025, using TradingView’s stock screener, and only zinc stocks with market caps greater than C$50 million at that time were considered. Read on to learn more about their operations and plans.

1. Teck Resources (TSX:TECK.A,TSX:TECK.B)

Company Profile

Market cap: C$31.79 billion
Share price: C$60.87

Teck Resources is a major global polymetallic mining company, as well as one of the top zinc producers in the world. It produced 644,000 metric tons (MT) of zinc in concentrate in 2023, with 539,800 MT coming from its Red Dog zinc mine in Alaska. The remaining 104,200 MT came from Teck’s 22.5 percent share of zinc production from the Antamina copper-zinc mine in Peru.

Total production guidance for 2024 is set in a range of 565,000 MT to 630,000 MT. As of September 30, 2024, Teck’s zinc production for the year totaled 551,000 MT.

The company also owns the Trail operations, which it describes as ‘one of the world’s largest fully integrated zinc and lead smelting and refining complexes.’ Located in BC, Canada, the Trail operations produced 266,600 MT of refined zinc in 2023, with 240,000 to 250,000 MT of the material expected in 2024.

The Trail operations was the first standalone zinc-processing site to receive the Zinc Mark verification. ‘To achieve the Zinc Mark, Teck’s Trail Operations was assessed and independently verified against 32 responsible production criteria including greenhouse gas emissions, community health and safety, respect for Indigenous rights and business integrity,’ the company explained in a press release in 2023. In February 2024, the Red Dog mine also earned the Zinc Mark for environmentally and socially responsible production practices.

Teck pays a quarterly dividend to its shareholders. On December 31, the company paid out a dividend of C$0.125 per share.

2. Emerita Resources (TSXV:EMO)

Press ReleasesCompany Profile

Market cap: C$287.97 million
Share price: C$1.14

Emerita Resources has a portfolio of high-grade, large-scale polymetallic projects covering more than 26,000 combined hectares in Spain’s Iberian Pyrite Belt. The company’s flagship asset is the Iberian Belt West project, which hosts three massive sulfide deposits: La Infanta, La Romanera and El Cura.

Emerita released a mineral resource estimate for Iberian Belt West in May 2023. It finished environmental baseline studies the following month, and completed the required supporting documentation for its mining license application in December.

As for its work in 2024, the company released Phase 2 metallurgical testing results for the La Romanera and La Infanta deposits in October. The results demonstrate that commercial-grade copper, lead and zinc concentrates can be obtained from both deposits.

Drilling is underway at the El Cura deposit to establish a mineral resource estimate with test work to follow. In July, the Andalusian government granted Iberian Belt West a declaration of strategic interest, which will streamline the process of moving the project through development. Results released in early December showed that drilling at La Cura intersected 13.15 meters in massive sulfides grading 3.3 percent zinc, 1.1 percent copper and 1.1 percent lead.

3. Fireweed Metals (TSXV:FWZ)

Press ReleasesCompany Profile

Market cap: C$263.32 million
Share price: C$1.44

Fireweed Metals is a critical metals company whose flagship Macmillan Pass zinc project is located in Canada’s Yukon. In 2023, the company acquired the Gayna River zinc project in the Northwest Territories and the Mactung tungsten project, which is adjacent to Macmillan Pass and straddles the border between Yukon and the Northwest Territories. According to the company’s website, Mactung ‘hosts the world’s largest high-grade tungsten deposit.’

Even with these new assets, the company still has a strong focus on Macmillan Pass. In fact, in November 2023, the Fireweed team, led by Dr. Jack Milton, the firm’s vice president of geology, received the 2023 Association for Mineral Exploration H.H. “Spud” Huestis Award for its work at the Macmillan Pass property.

Fireweed’s best drill intersection to date from Macmillan Pass’ Boundary zone includes 143.95 meters true width at 14.45 percent zinc, including 28.71 meters at 25.52 percent zinc. In June 2024, the company launched a 14,000 meter summer drill program, billed as the largest regional exploration campaign ever at Macmillan Pass. Subsequently, in September it released an updated mineral resource estimate for the Tom and Jason deposits, as well as the inaugural resource estimates for the Boundary Zone and End Zone deposits at the project.

4. Trilogy Metals (TSX:TMQ)

Company Profile

Market cap: C$246.18 million
Share price: C$1.57

Trilogy Metals is focused primarily on copper, zinc and cobalt at its Alaskan Upper Kobuk projects, which are held by Ambler Metals, a joint venture operating company owned equally by Trilogy and South32 (ASX:S32,OTC Pink:SHTLF).

Its most advanced zinc project is the Arctic copper-zinc-lead-gold-silver volcanogenic massive sulfide project, which is in the feasibility stage and has proven and probable reserves of 43.44 million MT grading 3.12 percent zinc.

In addition, early-stage field work at the company’s wholly owned Helpmejack project in Alaska’s Ambler Schist Belt outlined two target areas prospective for volcanogenic massive sulfide and shale-hosted zinc deposits.

Trilogy had been focusing on improving access to the region with its Amber Access project, but it was rejected by the US Bureau of Land Management in June 2024 due to the impact the proposed road would have on the environment and communities in the region, which has seen little development.

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

This post appeared first on investingnews.com

Cryptocurrencies such as Bitcoin and Ethereum offer an alternative route for building and storing wealth. While directly holding these digital assets is a popular option, investors are also clamoring for financial products such as crypto exchange-traded funds (ETFs).

Canada first launched Bitcoin and Ethereum ETFs in 2021. These Canadian Bitcoin and Ethereum ETFs allow investors to place returns in tax-sheltered accounts like tax-free savings accounts or registered retirement savings plans.

“There is a high demand for a Bitcoin product that has all the features that people love about ETFs — that they trade on an exchange, that they’re liquid,” Ross Mayfield, investment strategy analyst at Robert W. Baird & Co., told Bloomberg in mid-2021.

Interest has only increased since then. In the US, Bitcoin ETFs’ net assets surpassed US$100 billion on November 21, gaining ground on US gold ETFs. Sean Farrell, head of digital asset strategy at Fundstrat, wrote in mid-2023 that the Bitcoin ETF category at large has the potential to surpass the precious metals ETF market in terms of asset value. ‘Bitcoin ETF eventually could become >$300 billion category,’ he stated in the note.

Ethereum ETFs have also become a major talking point. Ethereum is the most widely used blockchain technology, and Ether, the digital currency of this platform, is the second largest cryptocurrency after Bitcoin.

With that in mind, it’s worth taking a look at the currently available Canadian cryptocurrency ETFs. The list below includes 13 Ether and Bitcoin ETFs available on the Canadian market sorted by assets under management, and all data presented is current as of January 14, 2025.

1. Purpose Bitcoin ETF (TSX:BTCC)

Company Profile

Assets under management: C$3.1 billion

Billed as the world’s first physically settled Bitcoin ETF, the Purpose Bitcoin ETF launched in February 2021 and is backed by Bitcoin in cold storage. This means the fund allows investors to add and sell Bitcoin with no digital wallet required.

Hosted by Canadian investment company Purpose Investments, the Purpose Bitcoin ETF is backed by 25610.96 Bitcoins and has a management expense ratio of 1 percent.

2. CI Galaxy Bitcoin ETF (TSX:BTCX.B)

Company Profile

Assets under management: C$1.23 billion

Launched in March 2021, the CI Galaxy Bitcoin ETF was born out of a partnership between cryptocurrency leaders Galaxy Fund Management and CI Global Asset Management. Galaxy Fund Management is part of Galaxy Digital, a diversified financial services firm with a focus on digital assets and the blockchain technology sector.

The ETF’s objective is to give investors exposure to Bitcoin via an institutional-quality fund platform, as its holdings are wholly Bitcoin and are kept in cold storage. At 0.4 percent, this fund boasts one of the lowest management fees of all the crypto funds on the market.

3. Fidelity Advantage Bitcoin ETF (TSX:FBTC)

Company Profile

Assets under management: C$1.02 billion

The newest Bitcoin fund on this list, the Fidelity Advantage Bitcoin ETF, launched in November 2021. It offers the security of Fidelity’s in-house cold storage services for its holdings.

While it previously had a management fee of 0.4 percent, in line with the CI and Galaxy funds, the Fidelity Advantage Bitcoin ETF lowered it in January 2024 to an ultra-low management fee of 0.39 percent.

4. CI Galaxy Ethereum ETF (TSX:ETHX.B)

Company Profile

Assets under management: C$554.78 million

The CI Galaxy Ethereum ETF, another collaboration between CI and Galaxy, offers investors exposure to the spot Ethereum price through Ether holdings in cold storage. The fund launched on April 20, 2021, the same day as two of the other Ether ETFs on this list.

At the time, CI Global Asset Management suggested that “owning Ether is similar to owning a basket of early-stage, high-growth technology stocks.”

The CI Galaxy Ethereum ETF has notably low management fees of just 0.4 percent.

5. Purpose Ether ETF (TSX:ETHH)

Company Profile

Assets under management: C$410.3 million

The Purpose Ether ETF is a direct-custody Ether ETF that launched on April 20, 2021. This fund holds 94065.95 Ether, which it stores in cold storage.

The Purpose Ether ETF offers investors exposure to the daily price movements of physically settled Ether tokens with a management fee of 1 percent.

6. 3iQ CoinShares Bitcoin ETF (TSX:BTCQ)

Company Profile

Net asset value: C$342.9 million

Launched in March 2021, the 3iQ CoinShares Bitcoin ETF offers exposure to the price movement of Bitcoin in US dollar terms. The company holds its Bitcoin assets in cold storage. This ETF has a management fee of 1 percent.

7. Evolve Bitcoin ETF (TSX:EBIT)

Company Profile

Assets under management: C$270.42 million

Evolve ETFs partnered with cryptocurrency experts, including Gemini Trust Company, CF Benchmarks, Cidel Bank & Trust and CIBC Mellon Global Services, to launch the Evolve Bitcoin ETF. The fund, which holds its own Bitcoin, has a management fee of 0.75 percent.

Launched a week after the Purpose Bitcoin ETF, its holdings of Bitcoin are priced based on the CME CF Bitcoin Reference Rate, a once-a-day benchmark index price for Bitcoin denominated in US dollars.

8. Purpose Bitcoin Yield ETF (TSX:BTCY)

Company Profile

Assets under management: C$150 million

The Purpose Bitcoin Yield ETF uses a covered call strategy to generate yield for investors, which involves writing call options on Bitcoin. Call options give the buyer an option to purchase an asset at a specific price on or before a specific date.

Its structure allows the fund to earn income from option premiums while providing investors with exposure to Bitcoin’s price movements. Its distributions are paid monthly.

9. 3iQ CoinShares Ether Staking ETF (TSX:ETHQ)

Company Profile

Net asset value: C$‪103.92 million

Following the success of its Bitcoin ETF, 3iQ Digital Asset Management launched its CoinShares Ether Staking ETF in April 2021. This fund has a similar objective, offering exposure to Ether and its daily US dollar price movements. It also has a management fee of 1 percent.

10. Evolve Ether ETF (TSX:ETHR)

Company Profile

Assets under management: C$80.23 million

The Evolve Ether ETF offers investors an easier route to investing directly in Ether. The fund’s holdings of Ether are priced based on the CME CF Ether-Dollar Reference Rate, a once-a-day benchmark index price for Ether denominated in US dollars. As with the Evolve Bitcoin ETF, the Evolve Ether ETF has a management fee of 0.75 percent.

11. Evolve Cryptocurrencies ETF (TSX:ETC)

Company Profile

Assets under management: C$75.68 million

The Evolve Cryptocurrencies ETF launched in September 2021 as the first multi-cryptocurrency ETF, providing combined exposure to both Bitcoin and Ether.

This product from Evolve ETFs allows investors to diversify their crypto portfolios and provides indirect exposure to the two coins, weighing them by market capitalization and rebalancing its holdings on a monthly basis. Bitcoin makes up the majority of its portfolio.

While this ETF has no management fee, the underlying funds that hold both Bitcoin and Ether have management fees of 0.75 percent plus applicable taxes.

12. Purpose Ether Yield ETF (TSX:ETHY)

Company Profile

Assets under management: C$69.3 million

Like the Purpose Bitcoin Yield ETF, the Purpose Ether Yield ETF offers investors an opportunity to invest in Ether while also generating yield. Purpose Investments lends a portion of its Ether holdings to institutional borrowers and earns interest on those loans.

Investors who purchase shares of this ETF receive a portion of the interest earned in monthly distributions.

13. Fidelity Advantage Ether ETF (TSX:FETH)

Company Profile

Assets under management: C$47.6 million

Following the successful launch of its Bitcoin fund, Fidelity brought its Advantage Ether ETF to market in September 2022, making this the newest Ether ETF in Canada. Its holdings are stored in Fidelity’s in-house cold storage.

The Fidelity Advantage Ether ETF has a management fee of 0.4 percent.

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

This post appeared first on investingnews.com

: Sen. Joni Ernst, R-Iowa, officially endorsed Pete Hegseth for Secretary of Defense on Tuesday night, despite expressing some initial uncertainty following their first meeting. 

‘After four years of weakness in the White House, Americans deserve a strong Secretary of Defense,’ Ernst told Fox News Digital in an exclusive statement.

‘Our next commander in chief selected Pete Hegseth to serve in this role, and after our conversations, hearing from Iowans, and doing my job as a United States Senator, I will support President Trump’s pick for Secretary of Defense. As I serve on the Armed Services Committee, I will work with Pete to create the most lethal fighting force and hold him to his commitments of auditing the Pentagon, ensuring opportunity for women in combat while maintaining high standards, and selecting a senior official to address and prevent sexual assault in the ranks.’

President-elect Trump’s pick to lead the Department of Defense (DOD) went before the Senate Armed Services Committee on Tuesday morning, where he faced questions from both Democratic and Republican members. 

During the hearing, Ernst pressed Trump’s DOD choice on women in combat, sexual assault in the military and auditing the department. 

Ernst, a survivor of sexual assault herself, said, ‘A priority of mine has been combating sexual assault in the military and making sure that all of our service members are treated with dignity and respect. This has been so important. Senator Gillibrand and I have worked on this, and we were able to get changes made to the uniform code of military justice to make sure that we have improvements, and on how we address the tragic and life altering, issues of rape, sexual assault. It will demand time and attention from the Pentagon under your watch, if you are confirmed.’

‘So, as secretary of Defense, will you appoint a senior level official dedicated to sexual assault prevention and response?’ she asked Hegseth. 

Trump’s DOD choice told the senator that he would agree to do so. 

Ernst had previously expressed uncertainty about her support for Hegseth, agreeing with Fox News anchor Bill Hemmer when he suggested she wasn’t quite ready to say yes to his confirmation. ‘I think you are right,’ she said on ‘America’s Newsroom.’

The senator’s support is a welcome development for Hegseth because, in order to be confirmed, its expected he will need nearly every Republican to back him, with room to lose only two of their votes. This is assuming that no Democratic senators choose to back him, in which case, he would have more flexibility with Republicans. 

Hegseth took numerous pointed questions from Democrats, along with several criticisms. The senators prodded him over allegations regarding alcohol consumption, sexual assault and financial mismanagement. 

He has denied each of the allegations. However, Democratic senators emerged from the hearing unconvinced by Hegseth. 

This post appeared first on FOX NEWS

Pharmaceutical giant Johnson & Johnson (J&J) (NYSE:JNJ) has announced plans to acquire Intra-Cellular Therapies (NASDAQ:ITCI) in a US$14.6 billion deal, marking the largest acquisition for the sector in over two years.

The purchase, which is expected to close later this year pending regulatory and shareholder approvals, will give J&J access to Intra-Cellular’s portfolio of treatments for neuropsychiatric and neurodegenerative disorders.

This includes Caplyta (lumateperone), an oral therapy for schizophrenia and bipolar depression that has been approved by the US Food and Drug Administration. Net product sales for Caplyta came in at US$175.2 million in the Q3 2024, a 39 percent increase year-on-year, with Intra-Cellular raising its annual guidance to US$665 million to US$685 million.

The move will strengthen J&J’s focus on treatments for brain disorders, aligning with its long-term strategy of enhancing its pharmaceutical business following the 2023 spinoff of its consumer health division.

J&J has agreed to pay US$132 per share in cash for Intra-Cellular, representing a 39 percent premium over the company’s closing share price before the announcement. Intra-Cellular rose by 34 percent in response to the news on Monday (January 13), while shares of J&J experienced a modest 1.5 percent gain that day.

Joaquin Duato, J&J’s CEO, emphasized to shareholders that the deal will enhance the company’s ability to deliver transformative treatments for neuropsychiatric and neurodegenerative disorders.

“Building on our nearly 70-year legacy in neuroscience, this unique opportunity to add Intra-Cellular Therapies to our Innovative Medicine business demonstrates our commitment to transforming care and advancing research in some of today’s most devastating neuropsychiatric and neurodegenerative disorders,” he said a press release.

Caplyta stands out for its safety and efficacy profile, with ongoing Phase 3 trials exploring its potential in major depressive disorder (MDD) and bipolar mania. If approved for MDD, Caplyta could become a standard of care, filling a gap in treatment options for one of the most prevalent mental health conditions globally.

In addition to Caplyta, J&J will gain access to Intra-Cellular’s pipeline, which includes ITI-1284, a Phase 2 drug candidate targeting generalized anxiety disorder and Alzheimer’s-related psychosis.

J&J is scheduled to provide further financial details during its Q4 earnings call on January 22.

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

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Bitcoin adoption is gaining traction as several US states propose measures to establish strategic reserves.

The trend stems from broader discussions spearheaded recently by incoming President Donald Trump and his allies, who are advocating for a federal plan to establish a strategic Bitcoin reserve.

The price of Bitcoin hit new all-time highs in 2024, sparking attention from state lawmakers interested in its potential to serve as a hedge against inflation and economic instability. Since Bitcoin surpassed the US$106,000 threshold in December, several states have put forth legislation to get exposure to the popular digital asset.

Currently, five states — Texas, Pennsylvania, Ohio, New Hampshire and North Dakota — are actively considering proposals to incorporate Bitcoin into their financial systems. Here’s an overview of the initiatives underway.

1. Texas

Texas has taken significant steps toward adopting a strategic Bitcoin reserve.

In December of last year, Republican Representative Giovanni Capriglione introduced a bill proposing the establishment of a strategic Bitcoin reserve for the state. The legislation mandates that any Bitcoin acquired must remain in cold storage for at least five years, ensuring security and long-term value retention.

The proposal also includes a mechanism that would allow Texans to donate to the state’s Bitcoin fund, building on public interest in digital asset adoption. Proponents argue that the reserve would enhance Texas’ financial stability while promoting innovation in the digital asset sector.

2. Pennsylvania

This past November, Pennsylvania lawmakers proposed a bill that would enable the state to allocate up to 10 percent of its general, emergency and state investment funds to Bitcoin. If enacted, the measure could lead to nearly US$1 billion worth of Bitcoin being added to Pennsylvania’s reserves, based on current valuations.

3. Ohio

Ohio’s legislative efforts began on December 17, when Republican Representative Derek Merrin introduced the Ohio Bitcoin Reserve Act. The new legislation would establish a Bitcoin fund within the state treasury, granting the Ohio treasurer discretion over the purchase and management of the asset.

‘Ohio must embrace technology and protect our tax revenue from erosion,” Merrin said in a tweet.

4. New Hampshire

On January 10, New Hampshire Republican Representative Keith Ammon proposed a bill aimed at diversifying the state’s holdings by allowing investment in both precious metals and digital assets.

Although Bitcoin is not explicitly mentioned in the bill, its market dominance makes it a likely candidate for inclusion.

The proposal outlines requirements for secure storage and qualified custodians. It also permits the state treasury to engage in lending or staking activities, reflecting a more expansive approach to digital asset utilization.

Ammon has underscored the importance of early adoption, saying, “The state that is last to build a Bitcoin reserve will lose. It’s urgent that states act sooner than later, and that takes some education on the part of state officials.’

5. North Dakota

North Dakota’s approach began with a resolution introduced on January 10, encouraging the state to invest a portion of its funds in digital assets and precious metals. While the resolution is less specific than formal legislation, it represents a step toward exploring Bitcoin’s potential role in the state’s treasury.

Lawmakers are expected to refine the proposal and potentially draft comprehensive legislation in the coming months.

Investor takeaway

Tim Kravchunovsky, CEO of decentralized telecommunications network Chirp, noted that these developments could have far-reaching effects in encouraging other states to follow suit.

“The increasing number of US states considering adding Bitcoin to their reserves is bound to put pressure on the states that are lagging behind on innovation,” he explained.

Kravchunovsky added that growing interest in Bitcoin among US states mirrors global trends, with countries such as Brazil and Hong Kong reportedly considering similar measures.

“Not only will this rising tide eventually push other US states to introduce their own Bitcoin bills, but we’re already seeing a sense of FOMO across the globe,” he noted.

As Trump prepares for his inauguration, investors anticipate that his administration will continue to explore policies that could integrate cryptocurrencies into federal financial systems.

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

This post appeared first on investingnews.com