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Israel approves biggest expansion of West Bank settlements in decades

Israel approved a massive expansion of Jewish settlements in the occupied West Bank this week in a move described as a continuation of de facto annexation of the territory.

Peace Now, an Israeli non-governmental organization that tracks settlements, said it was the largest expansion of settlements since the signing of the Oslo Accords more than 30 years ago.

Israel will establish 22 new settlements, including deep within the West Bank and in area from which the country had previously withdrawn, as part of the new security cabinet decision, according to a joint statement from Defense Minister Israel Katz and far-right Finance Minister Bezalel Smotrich.

“All the new communities are being established with a long-term strategic vision, aimed at reinforcing Israeli control of the territory, preventing the establishment of a Palestinian state, and securing development reserves for settlement in the coming decades,” the statement said.

Peace Now blasted the government for making such a decision in the midst of a war.

“The government is making clear – again and without restraint – that it prefers deepening the occupation and advancing de facto annexation over pursuing peace,” the organization said. “The Israeli government no longer pretends otherwise: the annexation of the Occupied Territories and expansion of settlements is its central goal.”

Israeli settlements in the occupied West Bank, as well as in East Jerusalem and the occupied Golan Heights, are considered illegal under international law.

The Oslo Accords, signed in 1993 between Israel and the Palestine Liberation Organization (PLO), were designed to pave the way to the establishment of a Palestinian state and the realization of a two-state solution.

For months, Israel’s military has carried out a massive operation in the West Bank, deploying tanks to the territory for the first time in decades and displacing tens of thousands of Palestinians. In February, Katz ordered the military “to prepare for a prolonged presence” as the military evacuated Palestinian refugee camps. Within the last several weeks, Israeli forces have carried out multiple waves of raids and arrests across the West Bank.

Peace Now said 12 of the new settlements will be the legalization of illegal outposts. Outposts are illegally established be Jewish settlers without approval from the government with the intention to push for formal recognition and legalization. Another nine of the settlements will be entirely new, while the final one will be the conversion of an existing neighborhood to an independent settlement, according to Peace Now.

Two of the settlements in the new plan were evacuated during the disengagement from parts of the West Bank in 2005, which forbade Israelis from establishing a civilian presence in those areas. That law was overturned by the current right-wing Israeli government.

Smotrich gloated about the new settlements, making clear his goal was annexation. “The next step – sovereignty! We did not take a foreign land, but the inheritance of our ancestors,” he said in a statement.

Earlier this month, the security cabinet approved a land registration process for Area C of the West Bank, which is under Israeli civil and security control. Peace Now called the move “a mega theft of Palestinian lands.”

This post appeared first on cnn.com

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Mud and rock buries evacuated Swiss village after glacier collapse, one person missing

A huge chunk of a glacier in the Swiss Alps broke off on Wednesday afternoon, causing a deluge of ice, mud and rock to bury part of a mountain village evacuated earlier this month due to the risk of a rockslide, authorities said.

One person is currently missing, officials said.

Drone footage broadcast by Swiss national broadcaster SRF showed a vast plain of mud and soil completely covering part of the village of Blatten, the river running through it and the wooded sides of the surrounding valley.

“We’ve lost our village,” Matthias Bellwald, the mayor of Blatten told a press conference after the slide. “The village is under rubble. We will rebuild.”

Stephane Ganzer, an official in the canton of Valais where Blatten is located, told Swiss media that about 90% of the village was covered by the landslide.

“An unbelievable amount of material thundered down into the valley,” said Matthias Ebener, a spokesperson for local authorities in the southwestern canton of Valais.

One person was missing, Ebener said. Officials gave no further details on the person during the press conference.

Officials said millions of cubic metres of rock and soil have tumbled down since Blatten was first evacuated this month when part of the mountain behind the glacier began to crumble, sparking warnings it could bring the ice mass down with it.

The village of Blatten on May 18, 2025, before it was buried by rock and mud.
Cyril Zingaro/Keystone via AP
Blatten, Switzerland, on May 28, 2025.
Jean-Christophe Bott/Keystone via AP

A video shared widely on social media showed the dramatic moment when the glacier partially collapsed, creating a huge cloud that covered part of the mountain as rock and debris came cascading down towards the village.

Experts consulted by Reuters said it was difficult to assess the extent to which rising temperatures spurred by climate change had triggered the collapse because of the role the crumbling mountainside had played.

Christian Huggel, a professor of environment and climate at the University of Zurich, said while various factors were at play in Blatten, it was known that local permafrost had been affected by warmer temperatures in the Alps.

The loss of permafrost can negatively affect the stability of the mountain rock which is why climate change had likely played a part in the deluge, Huggel said.

The extent of the damage to Blatten had no precedent in the Swiss Alps in the current or previous century, he added.

The rubble of shattered wooden buildings could be seen on the flanks of the huge mass of earth in the drone footage.

Buildings and infrastructure in Blatten, whose roughly 300 inhabitants were evacuated on May 19 after geologists had identified the risk of an imminent avalanche of rock and ice from above, were hit hard by the rockslide, Ebener said.

SRF said houses were destroyed in the village nestled in the Loetschental valley in southern Switzerland.

Swiss President Karin Keller-Sutter expressed her solidarity with the local population as emergency services warned people the area was hazardous and urged them to stay away, closing off the main road into the valley.

“It’s terrible to lose your home,” Keller-Sutter said on X.

This post appeared first on cnn.com

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GOP rails against ‘blatantly false’ Dem claims about Medicaid reform in Trump’s ‘big, beautiful bill’

House Republicans are celebrating Medicaid reform in the One Big Beautiful Bill Act, which the House GOP says eliminates waste, fraud and abuse to deliver for Americans who need coverage most. 

Meanwhile, Democrats have railed against possible Medicaid cuts since President Donald Trump was elected in November. Now that his ‘big, beautiful bill’ has passed in the House of Representatives, Democrats are defining Medicaid cuts as a driving issue ahead of competitive midterm elections in 2026. 

Republicans say there is more to the story. 

‘The One, Big Beautiful Bill puts Americans first. We’re securing the border. We’re protecting benefits for the most vulnerable. We are investing in American manufacturing. We’re investing in our own energy production,’ Rep. Erin Houchin, R-Ind., told Fox News Digital in an exclusive interview. 

‘The Democrats have been focusing on this specific line of attack that 13.7 million Americans are going to lose their health care, and that’s just blatantly false.’

The Congressional Budget Office (CBO), a nonpartisan analysis for the U.S. Congress, estimates that 8.6 million people in the United States will lose health insurance by 2034 through the One Big Beautiful Bill Act’s Medicaid reform. 

‘Five million of those people are receiving a tax credit under the Affordable Care Act that was passed by the Democrats with a sunset date that was implemented by the Democrats. We’re simply allowing the sunset date to expire as the Democrats originally intended,’ Houchin said. 

CBO estimates that 13.7 million Americans will lose coverage by 2034, which also includes the 5 million Americans who were already set to lose coverage. A number of Democrats have already deployed the figure in campaign messages rejecting Trump’s ‘big, beautiful bill’ passing in the House.

‘I don’t trust the CBO score, nor should the American people, because it’s been proven again and again to be wildly off,’ added Houchin, who served on three major committees leading budget markup, including the House Rules, Budget and Energy and Commerce committees. 

The American Accountability Foundation, a conservative government research nonprofit, found that of the 32 staff members on CBO’s Health Analysis Division, 26 of them have ‘clearly’ verified liberal partisan biases, as a Democrat donor, registered Democrat or a Democratic primary voter, as Fox News Digital reported this month. 

The One Big Beautiful Bill Act does not cut Medicaid for the most vulnerable, according to Houchin. Instead, she says targeting waste, fraud and abuse in the Medicaid program cuts benefits to illegal immigrants, those ineligible to receive benefits who are currently receiving benefits, duplicate enrollees in one or more states and those who are able-bodied but are choosing not to work. 

‘If you have to think about the four things that we’re doing in Medicaid to strengthen it, we’re removing anybody that is illegal, ineligible or duplicate, and we’re ensuring that able-bodied adults, on the expansion population, have a very modest work requirement, in exchange for receiving benefits. Those things are overwhelmingly supported by the American people, yet the Democrats continue to lie about what this bill is actually doing,’ Houchin said. 

Republicans say they are cleaning up the program to ensure working families and the most vulnerable Americans can rely on the program for generations to come. 

‘What we’re trying to do is protect precious Medicaid dollars for those who need it most,’ Houchin said. ‘That’s what we’re doing. No one in the traditional Medicaid population needs to worry. And even if you’re in the able-body expansion population, there are many opportunities to comply to participate in Medicaid.’

However, Democrats have already designated Medicaid cuts as a defining issue in 2026. 

‘House Republicans’ giant tax scam will kick millions of people off their health insurance,’ Democratic Congressional Campaign Committee (DCCC) spokesperson Viet Shelton told Fox News Digital. ‘It is fact. Independent analysts say it. Health care professionals say it. Hell, even Republican senators say so. Their saying anything to the contrary is just them trying to protect their already in danger majority.’

After weeks of negotiating through budget reconciliation, House Republicans finally reached a consensus and passed the One Big Beautiful Bill Act last week. The bill passed just 215 to 214, and all Democrats voted against it. Republicans’ slim majority managed to deliver a legislative win for Trump. 

However, the ‘big, beautiful’ fight is far from over as the Senate is tasked with drafting their own version of the bill. Senate Republicans have indicated they do not support the bill in its current form. 

‘I don’t want to see rural hospitals close their doors because funding got cut. I also don’t like the idea of a hidden tax on the working poor. That’s why I’m a NO on this House bill in its current form,’ Sen. Josh Hawley, R-Mo., said. 

The sweeping, multitrillion-dollar legislation advances Trump’s agenda on taxes, immigration, energy, defense and the national debt. The bill includes Trump’s key campaign promises, including no tax on tips and overtime, and it seeks to permanently extend his 2017 Tax Cuts and Jobs Act. 

‘By passing the largest cut to Medicaid in history, Republicans are ripping away health care from millions of Americans and levying a de facto hidden tax on working-class families,’ DCCC Chair Suzan DelBene said in a statement after the bill passed. ‘Now that vulnerable Republicans are on the record voting for it, this betrayal of the American people will cost them their jobs in the midterms and Republicans the House Majority come 2026.’

While Democrats target vulnerable Republicans for supporting Medicaid reform in Trump’s ‘big, beautiful bill,’ Republicans are taking aim at Democrats for voting against the bill’s tax cuts.

‘House Democrats voted for the largest tax increase in generations while giving taxpayer-funded freebies to illegal immigrants. The NRCC will make sure voters don’t forget how they betrayed working families,’ National Republican Campaign Committee (NRCC) spokesman Mike Marinella said in a statement to Fox News Digital. 

As House members return to their home states and communicate with constituents during the congressional recess, the NRCC is encouraging House Republicans to go on the offense on Medicaid reform. 

‘We’re encouraging all of our caucus, our conference members to continue to communicate with the local and national media to reiterate what we know to be true about this One Big Beautiful Bill,’ Houchin said. 

‘It puts Americans first and will ensure that these programs will be around for the next generation, because we’re not wasting any tax dollars, any precious benefits on people who are illegal, ineligible, enrolled in multiple states or are able-bodied and could be working. These programs were designed for our most vulnerable Americans, and the One Big Beautiful Bill protects benefits for those people.’

Fox News Digital’s Elizabeth Elkind and Louis Casiano contributed to this report. 

This post appeared first on FOX NEWS

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SCOOP: GOP push for new House committee to probe Biden decline ‘cover-up’ gains steam

House Republicans are mounting a push to start a new select committee focused on investigating the Biden administration for allegedly ‘covering up’ signs of the 82-year-old former president’s decline.

Rep. Buddy Carter, R-Ga., is introducing legislation Thursday that would establish a panel of congressional investigators to ‘investigate and report upon the facts of President Joseph Robinette Biden, Jr.’s cognitive and physical health decline and the potential concealment of information from the American public,’ according to bill text obtained by Fox News Digital.

As of Thursday morning, the resolution had four co-sponsors in addition to Carter: Reps. Mark Alford, R-Mo., John Rose, R-Tenn., Derrick Van Orden, R-Wis., and Barry Moore, R-Ala.

Republicans have unleashed a tidal wave of scrutiny on the previous Democrat White House as new reports – as well as old concerns previously dismissed by mainstream media – surface about Biden’s mental state while in office and what lengths those closest to him took to allegedly hide it from others. 

Carter’s text calls to investigate former Vice President Kamala Harris and former first lady Jill Biden as well as whoever took part in keeping the audio tapes of Special Counsel Robert Hur’s interview with Biden from the public.

The select committee would also focus on whether Biden allies ‘concealed’ his prostate cancer diagnosis before it was announced publicly last week. 

Biden’s spokesperson denied prior knowledge of the diagnosis in a statement to the New York Times.

The resolution also specifically called for a probe into the use of the autopen in Biden’s White House to sign meaningful legislation.

‘This is potentially the biggest political scandal of our lifetime, and the American people deserve to know the truth about who was really running the White House during Biden’s tenure as president,’ Carter told Fox News Digital of his legislation.

‘From using the autopen to pardon his own family members to likely concealing a cancer diagnosis, our government must restore trust with the public by fully investigating the former administration’s lies and getting to the bottom of one of the most consequential coverups in history.’

Carter, who is currently running for Senate in Georgia, was among several Republicans who demanded Biden take a cognitive test last year.

‘The American people can no longer be left to wonder about their safety and security because of the President’s deteriorating mental state,’ Carter wrote in a June 2024 letter to the White House.

His new resolution comes on the heels of House Oversight Committee Chair James Comer, R-Ky., opening his own investigation into revelations surrounding Biden’s cognitive decline.

Comer spent much of the last Congress investigating whether Biden and his family unjustly profited from foreign cash.

The House Oversight chair sent letters to former senior White House aides, including Biden’s doctor, Kevin O’Connor, announcing a probe into ‘the role of former senior Biden White House officials in possibly usurping authority from former President Joe Biden and the ramifications of a White House staff intent on hiding his rapidly worsening mental and physical faculties.’

Meanwhile, first-term Rep. Jimmy Patronis, R-Fla., called for a similar select committee on Wednesday.

This post appeared first on FOX NEWS

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Elon Musk criticism of Trump tax bill frustrates some Republicans: ‘No place in Congress’

Elon Musk’s criticism of House Republicans’ ‘big, beautiful bill’ has left some GOP lawmakers frustrated at the tech billionaire.

‘This is why Mr. Musk has no place in Congress,’ one House GOP lawmaker, granted anonymity to speak freely, told Fox News Digital. ‘He wants to codify discretionary cuts. He didn’t find enough waste, fraud, and abuse to fund [the Small Business Administration], let alone reduce our debt.’ 

‘This was a gimmick. He got used. He’s now upset. He played the game, he got what he wanted, then he ended up like everyone else who gets too close.’

House Republicans passed a broad-ranging bill last week advancing President Donald Trump’s agenda on tax, immigration, defense, and energy. Congressional Republicans are hoping to pass it via the budget reconciliation process, a mechanism for passing fiscal legislation while waiving the Senate’s 60-vote threshold and sidelining the minority party.

Musk told ‘CBS Sunday Morning’ the legislation ‘undermines the work’ done by the Department of Government Efficiency (DOGE). 

He called it a ‘massive spending bill’ that ‘increases the budget deficit.’

However, Republican supporters of the bill have contended that the kind of spending cuts Musk is looking for, and the kind DOGE outlined, cannot be done via the reconciliation process. House Speaker Mike Johnson, R-La., himself pledged in a public statement after Musk’s comments that House Republicans would tackle DOGE cuts – albeit in a different vehicle than the ‘big, beautiful bill.’

Reconciliation primarily deals with mandatory government funding that Congress must change by amending the law itself, like federal safety net programs.

The White House is also planning to send a package of proposed spending cuts to Congress next week, including cuts outlined by DOGE, that target discretionary government spending. Discretionary spending refers to the cash flows that Congress controls annually via the budget appropriations process.

Other supporters of the bill, like Rep. Nicole Malliotakis, R-N.Y., said its focus was on people outside of Musk’s wealth class.

‘The bill strikes the proper balance between rooting out fraud to achieve savings and not impacting citizens who rely on government programs. The biggest winners for a change are not billionaires like Musk but middle-class families who will see the bulk of savings returned to them in the form of real tax relief,’ Malliotakis told Fox News Digital.

‘That’s who President Trump and House Republicans set out to help.’

A second House Republican who requested anonymity to speak freely told Fox News Digital that Musk did ‘put a lot of work in’ with DOGE but argued he was wrong on the facts.

‘I mean, it wouldn’t be the first time that he didn’t really have a handle on the process,’ the House Republican said. ‘So, you know, we really have to bake the DOGE cuts into the budget rather than through reconciliation.’

Fox News Digital reached out to Musk for comment via Tesla but did not immediately hear back.

The White House pointed Fox News Digital to Trump advisor Stephen Miller’s public statement about fiscal hawks’ concerns about the bill. 

Miller said, ‘DOGE cuts are to discretionary spending. (Eg the federal bureaucracy). Under Senate budget rules, you cannot cut discretionary spending (only mandatory) in a reconciliation bill. So DOGE cuts would have to be done through what is known as a rescissions package or an appropriations bill. The Big Beautiful Bill is NOT an annual budget bill and does not fund the departments of government. It does not finance our agencies or federal programs. Instead, it includes the single largest welfare reform in American history.’

On the other side of the House GOP Conference, fiscal hawks who also had issues with the legislation rallied around Musk’s comments.

‘I share Mr. Musk’s concerns about the short-term adverse effect on the federal deficit of the limited spending reductions in the BBB. Debt markets remain concerned about US total debt and annual deficits,’ said House Freedom Caucus Chairman Andy Harris, R-Md.

The Maryland Republican voted ‘present’ on the reconciliation bill last week.

‘Hopefully the Senate will take those concerns into consideration as the legislative process moves forward,’ Harris said.

Rep. Warren Davidson, R-Ohio, the lone House Republican to vote against the bill, posted on X, ‘Hopefully, the Senate will succeed where the House missed the moment. Don’t hope someone else will cut spending someday, know it has been done this Congress.’

‘Despite pleas to step back and look at the sum of the parts passed by 11 different committees, this bill was rushed to the floor when it should have been fixed,’ Davidson said.

Musk announced late on Wednesday that he was stepping away from his federal government role because his ‘scheduled time as a Special Government Employee’ was coming ‘to an end.’

This post appeared first on FOX NEWS

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What’s next for DOGE after Elon Musk’s departure? ‘Only just begun’

Tesla and SpaceX CEO Elon Musk bid farewell to the Department of Government Efficiency (DOGE) in a Wednesday night X post, ending his tenure as the face of the agency as it shifts to a new phase in President Donald Trump’s second term. 

‘As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending,’ Musk said on X. ‘The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government.’

Musk has been the public face of DOGE since Trump signed an executive order establishing the office on Jan. 20. DOGE has since ripped through federal government agencies in a quest to identify and end government overspending, corruption and fraud.

After Musk’s departure, a senior White House official told Fox News Digital that DOGE will operate as it has always operated and that the agency is ‘part of the DNA of this federal government.’

The official added that DOGE now operates in ‘nearly every federal government agency department’ with the ‘sole job’ of cutting waste, fraud and abuse with the goal of efficiency.

‘The DOGE employees at their respective agency or department will be reporting to and executing the agenda of the president through the leadership of each agency or department head,’ the official said. 

In a post on X, White House Deputy Chief of Staff for Policy Stephen Miller said, ‘The work DOGE has done to eliminate government waste and corruption — the rot embedded deep within Washington — is among the most valuable services ever rendered to government. And the work has only just begun.’

While Musk has been the public face of DOGE for months, he was not an employee of the United States DOGE Service and did not report to the acting DOGE administrator, Amy Gleason, according to a court filing in March that shed additional light on the internal workings of the office.

Gleason, who has been described by her peers as a ‘world-class talent,’ previously worked for the United States Digital Service, which was founded in 2014 by former President Barack Obama as a technology office within the Executive Office of the President.

DOGE is a temporary cross-departmental organization that was established to slim down and streamline the federal government. The group itself will be dissolved on July 4, 2026, according to Trump’s executive order.

Musk’s tenure with DOGE resulted in an estimated $175 billion in savings through a combination of asset sales, contract cancellations, fraud payment deletion and other cost-cutting measures, according to the agency’s website, which was last updated on May 26.

The savings amount to $1,086.96 per taxpayer, according to the website. 

Amid Musk’s work with DOGE, Democrats and activists have staged protests against the tech billionaire and his companies, including working to tank Tesla stocks. 

Fox News Digital’s Emma Colton and Elizabeth Pritchard contributed to this report.

This post appeared first on FOX NEWS

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Hamas faces ‘legitimacy crisis’ as desperate Gazans flock to US-backed aid centers

The terrorist group known as Hamas has long plagued the Gaza Strip but is facing a point of crisis as its influence and support, which was already far from sweeping, continues to drop amid internal pressure to end the war and return the hostages taken during the Oct. 7, 2023 attacks.

‘Hamas’s current posture reveals a critical inflection point in its grip over the Gaza Strip,’ Joe Truzman, a senior research analyst and editor at the Foundation for Defense of Democracies ‘Long War Journal’ and an expert on Palestinian terrorist groups, told Fox News Digital. ‘By opposing the new aid distribution mechanism, one that is coordinated by the U.S. and Israel, Hamas is signaling that its primary concern is not the well-being of Palestinians but the preservation of its authority.’

Despite the monthslong aid blockade on the Gaza Strip by Israel and the images of starvation, Hamas this week threatened any Palestinian civilians who accept food aid for their families and warned they ‘will pay the price, and we will take the necessary measures.’

Despite the threats, Palestinians have flooded the aid sites erected by the U.S.-Israeli-backed Gaza Humanitarian Foundation (GHF), reportedly resulting in scenes of chaos as desperate civilians overran one distribution location on Tuesday. The Israel Defense Forces (IDF) said its ‘troops fired warning shots in the area outside the compound,’ adding, ‘Control over the situation was established … and the safety of IDF troops was not compromised.’

The U.N. Human Rights Office claimed some 47 people were injured during the gunfire, while the Hamas-run health ministry said one person was killed and 48 others were wounded, reported the BBC, though Fox News Digital could not independently verify the casualty count.

On Wednesday, GHF said in a statement that, contrary to reports, no Palestinians have been questioned or detained while receiving aid. Additionally, GHF said that no Palestinians had been shot or killed while trying to get aid.

‘As we have repeatedly cautioned, there are many parties who wish to see GHF fail. Their goal is to force a return to the status quo, even if it means risking lifesaving aid to the people of Gaza,’ the GHF said in a statement. ‘Reports to the contrary originated from Hamas and are inaccurate.’

Truzman explained that it is in Hamas interest to portray the aid delivery as negatively as possible, and to use the chaos to promote its return to power. 

‘Hamas had significant influence over aid flows, which it used not only for governance but also as leverage to reinforce loyalty, reward patronage networks, and maintain internal control,’ the expert explained. ‘The erosion of this influence poses both a symbolic and operational threat to the group.

‘With Hamas becoming sidelined from the aid process, the group is facing a legitimacy crisis,’ Truzman added. 

Despite the chaotic scenes that arose as aid finally returned to Gaza, the GHF said Tuesday that it had distributed about 8,000 food boxes totaling 462,000 meals so far. 

On Wednesday, eight trucks worth of aid were delivered, which equates to some 378,262 meals. 

‘Operations will continue to scale up tomorrow,’ the GHF confirmed.

One Gazan told the Center for Peace Communications that the failure of Hamas, which serves as the local government, to secure affordable and accessible food has driven civilians to the American distribution site. 

‘In fact, they were good to us,’ he said. ‘They were handing out rations cards and started to tell us to take them. Unlike those ruling Gaza who don’t do anything for us.

‘We, as a people, are telling you that we need anyone, anyone who can provide us with these necessities,’ he added. ‘Otherwise, no one would be going to the American distribution point. If Hamas is listening to us, get off the people’s backs.

‘The people are dying,’ the man added.

In recent months, civilian populations have not only been turning to external actors for relief where possible, they have increasingly called on Hamas to return the hostages, stop the war and even leave the Gaza Strip. 

‘This shift undermines Hamas’s image as the authority in Gaza and exposes its weakened state,’ Truzman said. 

‘However, any assumption that Hamas might yield under these conditions must be tempered by the nature of its surviving leadership,’ he warned. ‘Those who remain at the helm are among the most ideologically entrenched and militarily committed members of the organization.’

Hamas took over the Gaza Strip in 2007 after it defeated its rival party, Fatah, which is part of the Palestine Liberation Organization. 

Despite the plurality vote nearly two decades ago, Hamas has struggled to maintain control and stability for years and its support – even in the lead up to the 2023 attacks that prompted the largest-ever war between Israel and Hamas in Gaza – was reportedly lacking and its leadership growing increasingly unpopular. 

Israel and Egypt have limited the flow of goods into the Gaza Strip for the last two decades, and border crossing restrictions have been heavily enforced since the 1980s. Israel withdrew from Gaza in 2025.

However, according to a report by the Wilson Center, only a fraction of the population prior to the Oct. 7, 2023 attacks blamed food shortages on external factors like sanctions, while a third blamed the Hamas-run government for mismanagement, while another quarter of the population blamed inflation.

The report also found that nearly half of Palestinian civilians said they had no trust in Hamas’ leadership, while roughly a third of the population threw their support behind the group.

Support is believed to have dropped in the nearly 600 days that followed the Oct. 7, 2023 terror attacks, and the subsequent devastation brought to the Gaza Strip. 

‘If the new aid mechanism succeeds in improving living conditions for Palestinians, surpassing what Hamas has been able to provide during wartime, it is unlikely to reverse the growing public dissatisfaction with the group,’ Truzman told Fox News Digital. ‘Even an imperfect but externally managed aid system may further expose Hamas’s governance failures, particularly its prioritization of power retention over the welfare of the population. 

‘While tangible improvements will take time to materialize, the mere perception that life can improve without Hamas may be enough to shift public attitudes further against the group,’ he added. 

This post appeared first on FOX NEWS

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Coelacanth Announces Q1 2025 Financial and Operating Results

Coelacanth Energy Inc. (TSXV: CEI) (‘Coelacanth’ or the ‘Company’) is pleased to announce its financial and operating results for the three months ended March 30, 2025. All dollar figures are Canadian dollars unless otherwise noted.

FINANCIAL RESULTS Three Months Ended
  March 31
($000s, except per share amounts)  2025   2024   % Change   
       
Oil and natural gas sales 2,666 3,666 (27 )
       
Cash flow from operating activities 981 3,256 (70 )
Per share – basic and diluted (1) – 0.01 (100 )
       
Adjusted funds flow (used) (1) (1,440 ) 1,078 (234 )
Per share – basic and diluted (- ) – (- )
       
Net loss (3,617 ) (1,201 ) 201
Per share – basic and diluted (0.01 ) (- ) 100
       
Capital expenditures (1) 25,701 1,263 1,935
       
Adjusted working capital (deficiency) (1) (25,710 ) 67,139 (138 )
       
Common shares outstanding (000s)      
Weighted average – basic and diluted 531,445 529,196 –
       
End of period – basic 532,202 529,392 1
End of period – fully diluted 624,877 618,165 1​

 

(1) See ‘Non-GAAP and Other Financial Measures’ section.

  Three Months Ended
OPERATING RESULTS (1) March 31
   2025   2024   % Change   
       
Daily production (2)      
Oil and condensate (bbls/d) 184 300 (39 )
Other NGLs (bbls/d) 25 37 (32 )
Oil and NGLs (bbls/d) 209 337 (38 )
Natural gas (mcf/d) 3,311 3,934 (16 )
Oil equivalent (boe/d) 761 993 (23 )
       
Oil and natural gas sales      
Oil and condensate ($/bbl) 90.21 85.30 6
Other NGLs ($/bbl) 38.01 34.79 9
Oil and NGLs ($/bbl) 84.03 79.82 5
Natural gas ($/mcf) 3.65 3.40 7
Oil equivalent ($/boe) 38.94 40.57 (4 )
       
Royalties      
Oil and NGLs ($/bbl) 15.95 20.77 (23 )
Natural gas ($/mcf) 0.64 0.51 25
Oil equivalent ($/boe) 7.18 9.08 (21 )
       
Operating expenses      
Oil and NGLs ($/bbl) 10.63 9.89 7
     Natural gas ($/mcf) 1.77 1.65 7
     Oil equivalent ($/boe) 10.63 9.89 7
       
Net transportation expenses (3)      
Oil and NGLs ($/bbl) 2.27 2.45 (7 )
Natural gas ($/mcf) 0.78 0.68 15
Oil equivalent ($/boe) 4.00 3.54 13
       
Operating netback (3)      
Oil and NGLs ($/bbl) 55.18 46.71 18
Natural gas ($/mcf) 0.46 0.56 (18 )
Oil equivalent ($/boe) 17.13 18.06 (5 )
       
Depletion and depreciation ($/boe) (14.30 ) (14.42 ) (1 )
General and administrative expenses ($/boe) (21.76 ) (13.86 ) 57
Share based compensation ($/boe) (18.46 ) (10.11 ) 83
Finance expense ($/boe) (12.86 ) (1.06 ) 1,113
Finance income ($/boe) 1.46 10.60 (86 )
Unutilized transportation ($/boe) (4.05 ) (2.49 ) 63
Net loss ($/boe) (52.84 ) (13.28 ) 298

 

(1) See ‘Oil and Gas Terms’ section.
(2) See ‘Product Types’ section.
(3) See ‘Non-GAAP and Other Financial Measures’ section.

Selected financial and operational information outlined in this news release should be read in conjunction with Coelacanth’s unaudited condensed interim financial statements and related Management’s Discussion and Analysis (‘MD&A’) for the three months ended March 31, 2025, which are available for review under the Company’s profile on SEDAR+ at www.sedarplus.ca.

OPERATIONS UPDATE

Coelacanth has reached a major milestone in its development with the completion of the Two Rivers East facility (the ‘Facility’). The Facility was completed on budget and has moved to the testing and start-up phase. The capacity of the Facility is currently 8,000 boe/d but will be expanded in Q4 2025 to 16,000 boe/d with added compression. We expect production to start flowing imminently from the 5-19 pad and ramp up through the summer. As previously released, the 5-19 pad has 9 wells that tested over 11,000 boe/d (1) that will be brought on systematically to approach the phase I capacity of the plant prior to further drilling.

Over the next few years, Coelacanth will continue with its business plan that incorporates:

  1. Systematically developing the resource using pad development and horizontal multi-frac technology to increase production and maximize cash flow and investment returns.
  2. Delineating the lands with vertical and horizontal wells to help in quantifying and understanding the commerciality of its large Montney resource base that includes up to four Montney benches over its 150 contiguous sections of land.
  3. Developing and licensing a flexible infrastructure plan that will allow for the resource to be scaled to a much larger production base.

Coelacanth has licensed additional locations on the 5-19 pad, is in the process of licensing additional development pads, delineation locations and additional infrastructure to grow beyond current plant capacity. While commodity prices and available capital will dictate the pace of execution of the business plan, we are very pleased with the results to date and look forward to reporting on new developments as they arise.

(1) See ‘Test Results and Initial Production Rates’ section for more details.

OIL AND GAS TERMS

The Company uses the following frequently recurring oil and gas industry terms in the news release:

Liquids

Bbls Barrels
Bbls/d Barrels per day
NGLs Natural gas liquids (includes condensate, pentane, butane, propane, and ethane)
Condensate Pentane and heavier hydrocarbons 

 

Natural Gas

Mcf Thousands of cubic feet
Mcf/d Thousands of cubic feet per day
MMcf/d Millions of cubic feet per day
MMbtu Million of British thermal units
MMbtu/d Million of British thermal units per day

 

Oil Equivalent

Boe Barrels of oil equivalent
Boe/d Barrels of oil equivalent per day

 

Disclosure provided herein in respect of a boe may be misleading, particularly if used in isolation. A boe conversion rate of six thousand cubic feet of natural gas to one barrel of oil equivalent has been used for the calculation of boe amounts in the news release. This boe conversion rate is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

NON-GAAP AND OTHER FINANCIAL MEASURES

This news release refers to certain measures that are not determined in accordance with IFRS (or ‘GAAP’). These non-GAAP and other financial measures do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to similar measures presented by other entities. The non-GAAP and other financial measures should not be considered alternatives to, or more meaningful than, financial measures that are determined in accordance with IFRS as indicators of the Company’s performance. Management believes that the presentation of these non-GAAP and other financial measures provides useful information to shareholders and investors in understanding and evaluating the Company’s ongoing operating performance, and the measures provide increased transparency to better analyze the Company’s performance against prior periods on a comparable basis.

Non-GAAP Financial Measures

Adjusted funds flow (used)
Management uses adjusted funds flow (used) to analyze performance and considers it a key measure as it demonstrates the Company’s ability to generate the cash necessary to fund future capital investments and abandonment obligations and to repay debt, if any. Adjusted funds flow (used) is a non-GAAP financial measure and has been defined by the Company as cash flow from operating activities excluding the change in non-cash working capital related to operating activities, movements in restricted cash deposits and expenditures on decommissioning obligations. Management believes the timing of collection, payment or incurrence of these items involves a high degree of discretion and as such may not be useful for evaluating the Company’s cash flows. Adjusted funds flow (used) is reconciled from cash flow from operating activities as follows:

  Three Months Ended
  March 31
($000s)  2025   2024   % Change   
Cash flow from operating activities  981 3,256 (70 )
Add (deduct):      
Decommissioning expenditures 139 148 (6 )
Change in restricted cash deposits – 424 (100 )
Change in non-cash working capital (2,560 ) (2,750 ) (7 )
Adjusted funds flow (used) (non-GAAP) (1,440 ) 1,078 (234 )

 

Net transportation expenses
Management considers net transportation expenses an important measure as it demonstrates the cost of utilized transportation related to the Company’s production. Net transportation expenses is calculated as transportation expenses less unutilized transportation and is calculated as follows:

  Three Months Ended
  March 31
($000s)  2025   2024 
Transportation expenses 551 545
Unutilized transportation (277 ) (225 )
Net transportation expenses (non-GAAP) 274 320

 

Operating netback
Management considers operating netback an important measure as it demonstrates its profitability relative to current commodity prices. Operating netback is calculated as oil and natural gas sales less royalties, operating expenses, and net transportation expenses and is calculated as follows:

  Three Months Ended
  March 31
($000s)  2025   2024 
Oil and natural gas sales 2,666 3,666
Royalties (491 ) (821 )
Operating expenses (728 ) (894 )
Net transportation expenses (274 ) (320 )
Operating netback (non-GAAP) 1,173 1,631

 

Capital expenditures
Coelacanth utilizes capital expenditures as a measure of capital investment on property, plant, and equipment, exploration and evaluation assets and property acquisitions compared to its annual budgeted capital expenditures. Capital expenditures are calculated as follows:

  Three Months Ended
  March 31
($000s)  2025   2024 
Capital expenditures – property, plant, and equipment 668 393
Capital expenditures – exploration and evaluation assets 25,033 870
Capital expenditures (non-GAAP) 25,701 1,263

 

Capital Management Measures

Adjusted working capital
Management uses adjusted working capital (deficiency) as a measure to assess the Company’s financial position. Adjusted working capital is calculated as current assets and restricted cash deposits less current liabilities, excluding the current portion of decommissioning obligations.

($000s) March 31,
2025 		   December 31, 2024   
Current assets 3,431 11,579
Less:     
Current liabilities  (36,009 ) (37,234 )
Working capital deficiency (32,578 ) (25,655 )
Add:     
Restricted cash deposits 4,900 4,900
Current portion of decommissioning obligations 1,968 2,118
Adjusted working capital deficiency (Capital management measure) (25,710 ) (18,637 )

 

Non-GAAP Financial Ratios

Adjusted Funds Flow (Used) per Share
Adjusted funds flow (used) per share is a non-GAAP financial ratio, calculated using adjusted funds flow (used) and the same weighted average basic and diluted shares used in calculating net loss per share.

Net transportation expenses per boe
The Company utilizes net transportation expenses per boe to assess the per unit cost of utilized transportation related to the Company’s production. Net transportation expenses per boe is calculated as net transportation expenses divided by total production for the applicable period.

Operating netback per boe
The Company utilizes operating netback per boe to assess the operating performance of its petroleum and natural gas assets on a per unit of production basis. Operating netback per boe is calculated as operating netback divided by total production for the applicable period.

Supplementary Financial Measures

The supplementary financial measures used in this news release (primarily average sales price per product type and certain per boe and per share figures) are either a per unit disclosure of a corresponding GAAP measure, or a component of a corresponding GAAP measure, presented in the financial statements. Supplementary financial measures that are disclosed on a per unit basis are calculated by dividing the aggregate GAAP measure (or component thereof) by the applicable unit for the period. Supplementary financial measures that are disclosed on a component basis of a corresponding GAAP measure are a granular representation of a financial statement line item and are determined in accordance with GAAP.

PRODUCT TYPES

The Company uses the following references to sales volumes in the news release:

Natural gas refers to shale gas
Oil and condensate refers to condensate and tight oil combined
Other NGLs refers to butane, propane and ethane combined
Oil and NGLs refers to tight oil and NGLs combined
Oil equivalent refers to the total oil equivalent of shale gas, tight oil, and NGLs combined, using the conversion rate of six thousand cubic feet of shale gas to one barrel of oil equivalent.

The following is a complete breakdown of sales volumes for applicable periods by specific product types of shale gas, tight oil, and NGLs:

  Three Months Ended
  March 31
Sales Volumes by Product Type  2025   2024 
     
Condensate (bbls/d)                      18                      19
Other NGLs (bbls/d)                      25                      37
NGLs (bbls/d)                      43                      56
     
Tight oil (bbls/d)                    166                    281
Condensate (bbls/d)                      18                      19
Oil and condensate (bbls/d)                    184                    300
Other NGLs (bbls/d)                      25                      37
Oil and NGLs (bbls/d)                    209                    337
     
Shale gas (mcf/d)                 3,311                 3,934
Natural gas (mcf/d)                 3,311                 3,934
     
Oil equivalent (boe/d)                    761                    993

 

TEST RESULTS AND INITIAL PRODUCTION RATES

The 5-19 Lower Montney well was production tested for 9.4 days and produced at an average rate of 377 bbl/d oil and 2,202 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The A5-19 Basal Montney well was production tested for 5.9 days and produced at an average rate of 117 bbl/d oil and 630 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The B5-19 Upper Montney well was production tested for 6.3 days and produced at an average rate of 92 bbl/d oil and 2,100 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The C5-19 Lower Montney well was production tested for 5.8 days and produced at an average rate of 736 bbl/d oil and 2,660 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The D5-19 Lower Montney well was production tested for 12.6 days and produced at an average rate of 170 bbl/d oil and 580 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The E5-19 Lower Montney well was production tested for 11.4 days and produced at an average rate of 312 bbl/d oil and 890 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure was stable, and production was starting to decline.

The F5-19 Lower Montney well was production tested for 4.9 days and produced at an average rate of 728 bbl/d oil and 1,607 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The G5-19 Lower Montney well was production tested for 7.1 days and produced at an average rate of 415 bbl/d oil and 1,489 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure and production rates were stable.

The H5-19 Lower Montney well was production tested for 8.1 days and produced at an average rate of 411 bbl/d oil and 1,166 mcf/d gas (net of load fluid and energizing fluid) over that period which includes the initial cleanup where only load water was being recovered. At the end of the test, flowing wellhead pressure was stable and production was starting to decline.

A pressure transient analysis or well-test interpretation has not been carried out on these nine wells and thus certain of the test results provided herein should be considered to be preliminary until such analysis or interpretation has been completed. Test results and initial production rates disclosed herein, particularly those short in duration, may not necessarily be indicative of long-term performance or of ultimate recovery.

Any references to peak rates, test rates, IP30, IP90, IP180 or initial production rates or declines are useful for confirming the presence of hydrocarbons, however, such rates and declines are not determinative of the rates at which such wells will continue production and decline thereafter and are not indicative of long-term performance or ultimate recovery. IP30 is defined as an average production rate over 30 consecutive days, IP90 is defined as an average production rate over 90 consecutive days and IP180 is defined as an average production rate over 180 consecutive days. Readers are cautioned not to place reliance on such rates in calculating aggregate production for the Company.

FORWARD-LOOKING INFORMATION

This document contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words ‘expect’, ‘anticipate’, ‘continue’, ‘estimate’, ‘may’, ‘will’, ‘should’, ‘believe’, ‘intends’, ‘forecast’, ‘plans’, ‘guidance’ and similar expressions are intended to identify forward-looking statements or information.

More particularly and without limitation, this news release contains forward-looking statements and information relating to the Company’s oil and condensate, other NGLs, and natural gas production, capital programs, and adjusted working capital. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including expectations and assumptions relating to prevailing commodity prices and exchange rates, applicable royalty rates and tax laws, future well production rates, the performance of existing wells, the success of drilling new wells, the availability of capital to undertake planned activities, and the availability and cost of labour and services.

Although the Company believes that the expectations reflected in such forward-looking statements and information are reasonable, it can give no assurance that such expectations will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risks associated with the oil and gas industry in general such as operational risks in development, exploration and production, delays or changes in plans with respect to exploration or development projects or capital expenditures, the uncertainty of estimates and projections relating to production rates, costs, and expenses, commodity price and exchange rate fluctuations, marketing and transportation, environmental risks, competition, the ability to access sufficient capital from internal and external sources and changes in tax, royalty, and environmental legislation. The forward-looking statements and information contained in this document are made as of the date hereof for the purpose of providing the readers with the Company’s expectations for the coming year. The forward-looking statements and information may not be appropriate for other purposes. The Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Coelacanth is an oil and natural gas company, actively engaged in the acquisition, development, exploration, and production of oil and natural gas reserves in northeastern British Columbia, Canada.

Further Information

For additional information, please contact:

Coelacanth Energy Inc.
Suite 2110, 530 – 8th Avenue SW
Calgary, Alberta T2P 3S8
Phone: (403) 705-4525
www.coelacanth.ca

Mr. Robert J. Zakresky
President and Chief Executive Officer

Mr. Nolan Chicoine
Vice President, Finance and Chief Financial Officer

Neither the 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 release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253761

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Silver Stocks and the Land Grab for Silver Assets

Investorideas.com, a global investor news source covering gold and silver stocks presents a mining snapshot highlighting news from silver miners, from expanded land packages to acquisitions, featuring Apollo Silver Corp. (TSXV: APGO) (OTCQB: APGOF) (FSE: 6ZF0).

Silver Stocks and the Land Grab for Silver Assets

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The Company is focused on advancing its portfolio of two prospective silver exploration and resource development projects, the Calico Project, in San Bernardino County, California, and its option on the Cinco de Mayo Project, in Chihuahua, Mexico.

With strong demand and a supply deficit since 2021, silver miners are actively acquiring land and developing projects to increase production and address the shortfall.

In line with the sector’s growth strategy, Apollo Silver Corp. (TSXV: APGO) (OTCQB: APGOF) (FSE: 6ZF0) recently announce it has acquired 2,215 hectares of highly prospective claims contiguous to its Waterloo property at its Calico Silver Project.

From the news:
The newly acquired claims, referred to as the Mule claims, comprise 415 lode mining claims and were acquired from LAC Exploration LLC, a wholly-owned subsidiary of Lithium Americas Corp. (TSX: LAC) (NYSE: LAC), which was the previous operator of the property. Preliminary mapping and sampling conducted by the previous operator of the Mule claims identified several high-grade silver targets, which will be evaluated as part of Apollo’s future exploration planning.

Additionally, a mapping and sampling program was recently completed at the Burcham gold prospect area in the southwest region of the Waterloo property (see news release dated February 12, 2025). This program confirmed the Calico fault system’s role in controlling silver (Ag) and gold (Au) mineralization in the area and identified potential for copper (Cu), zinc (Zn), and lead (Pb) mineralization associated with stratabound and manto lenses.

Highlights:

Mule claims expand the Calico Project land package by over 285%, from 1,194 hectares to 3,409 hectares of contiguous claims.

Mule claims trend along the mineralized Calico Fault System responsible for mineralization seen at Calico.

Reports from the prior operator indicate that there are several strongly anomalous silver values on the property, which Apollo will attempt to ground-truth in the coming exploration programs.

Sampling done across the Mule claims by previous operator has identified a large Ag anomaly associated with the same suite of host rocks at the Waterloo property.

Exploration at the Burcham prospect at Waterloo included assays from 27 surface samples:

Assay peaks up to 14.10 g/t Au, 20.70 g/t Ag, 0.17% Cu, 22.80% Zn and 5.74 % Pb from various samples.

Identification of strata-bound lenses and mantos that show strong potential for Cu, Zn and Pb mineralization.

Ross McElroy, President and CEO of Apollo commented, ‘The addition of the Mule claims substantially enhances the Calico Project. Calico already hosts three discrete drill-delineated zones with resource estimates along a 4-km-long trend within the Calico fault zone. The Mule claims increase the project’s land area by 2.5 times, strategically located to the east along this highly prospective mineralized corridor, offering significant potential for further discoveries. Apollo is committed to unlocking value in California for our shareholders.’

The Mule claims, comprising 415 lode mining claims administered by the Bureau of Land Management, feature a continuation of the mineralized Calico Fault System, as identified through mapping and sampling by the previous operator. The sedimentary rocks of the Barstow Formation, which hosts the Waterloo silver deposit and the volcanic Pickhandle Formation are prevalent across the acquired claims. The contact between the Barstow and Pickhandle Formations has demonstrated potential for gold mineralization, similar to that at Waterloo. Sampling across the Mule claims has identified several strong Ag and Au anomalies. Apollo plans to conduct a follow-up exploration program to develop exploration targets and delineate this highly prospective contact.

Earlier this month, Pan American Silver Corp. and MAG Silver Corp announced a definitive agreement for Pan American to acquire all issued and outstanding common shares of MAG through a plan of arrangement. MAG, a tier-one primary silver mining company, holds a 44% joint venture interest in the large-scale, high-grade Juanicipio mine, operated by Fresnillo plc, which holds the remaining 56% interest in the joint venture.

More from the news:
Under the terms of the transaction, MAG shareholders will receive total consideration of approximately $2.1 billion, equivalent to $20.54 per MAG share, based on the closing price of Pan American’s common shares on the New York Stock Exchange (NYSE) on May 9, 2025. The consideration comprises $500 million in cash and 0.755 Pan American shares per MAG share, subject to proration. This represents premiums of approximately 21% and 27% to the closing price and 20-day volume-weighted average price (VWAP) of MAG’s common shares on the NYSE American (NYSEAM) as of May 9, 2025. Upon completion, existing MAG shareholders will own approximately 14% of Pan American’s shares on a fully diluted basis, benefiting from participation in a larger, diversified, and growth-oriented silver and gold producer.

Michael Steinmann, President and CEO of Pan American commented: ‘Our acquisition of MAG brings into Pan American’s portfolio one of the best silver mines in the world. Juanicipio is a large-scale, high-grade, low-cost silver mine that will meaningfully increase Pan American’s exposure to high margin silver ounces. Furthermore, we see future growth opportunities through the significant exploration potential at Juanicipio as well as MAG’s Deer Trail and Larder properties. This strategic acquisition further solidifies Pan American as a leading Americas-focused silver producer. We would like to thank the Fresnillo and the Juanicipio management teams for the constructive interactions and impressive site visit. Together, we bring many decades of operator experience in Mexico and Latin America to the Joint Venture and we are looking forward to a collaborative future and value generation for all shareholders involved.’

George Paspalas, President and CEO of MAG commented, ‘This transaction represents a compelling opportunity for our shareholders, providing an immediate premium and meaningful exposure to Pan American’s world-class assets and proven growth strategy. We are proud of what we’ve accomplished at MAG, particularly our partnership with Fresnillo which has created extraordinary value at the exceptional Juanicipio mine. Through the acquisition of our interest by Pan American – a respected leader in the global precious metals industry – our shareholders will participate in an exciting future defined by operational excellence, substantial exploration potential, and strong financial stewardship with significant portfolio exposure.’

Dolly Varden Silver Corporation recently announced that, following its news release dated May 5, 2025, it has completed the acquisition of the Kinskuch Property in northwest British Columbia’s Golden Triangle.

From the news:
The Kinskuch Property is adjacent to the Company’s Kitsault Valley Project and dramatically increases the Kitsault Valley Project size to approximately 77,000 hectares, covering some of the most underexplored and prospective rocks for silver, gold and copper mineralization in the Golden Triangle.

Dolly Varden completed its acquisition of the Kinskuch Property from Hecla Mining Company for consideration of $5 million, which was satisfied by Dolly Varden issuing 1,351,963 common shares of the Company to Hecla. Hecla will also retain a 2% net smelter return royalty on the Kinskuch Property area (the ‘NSR’). The NSR will include a 50% buyback right, for $5 million, that will allow Dolly Varden to reduce the royalty to 1% at any time. As per an existing agreement between Dolly Varden and Hecla, Hecla will maintain a designated position on Dolly Varden’s Technical Committee, working together to unlock the potential of the underexplored areas.

The year began with a significant development for the sector when, in January, First Majestic Silver Corp. and Gatos Silver, Inc. announced the completion of First Majestic’s acquisition of Gatos Silver under the agreement and plan of merger, as detailed in their joint news release dated September 5, 2024.

More from the news:
On Tuesday, January 14, 2025, both First Majestic and Gatos Silver announced that they received all necessary shareholder approvals at the respective special meetings of each company’s shareholders. Approximately 98.44% of the votes cast at the special meeting of First Majestic’s shareholders were voted in favour and approximately 99.23% of the votes cast at the special meeting of Gatos Silver’s stockholders were voted in favour.

Under the terms of the Merger Agreement, First Majestic has acquired all of the issued and outstanding shares of common stock of Gatos Silver and Gatos Silver is now a wholly-owned subsidiary of First Majestic. Stockholders of Gatos Silver will receive 2.55 First Majestic common shares for each Gatos Silver Share held, and cash in lieu of fractional First Majestic Shares .

‘With the closing of this transaction, First Majestic is integrating a high-quality, long-life, positive-free-cash-flow operation into our portfolio of producing mines in Mexico. Cerro Los Gatos is truly a world-class district with robust production and cost efficiency, combined with significant exploration potential,’ said Keith Neumeyer, President and CEO. ‘Over the coming quarters, we will communicate our plans for Cerro Los Gatos, including strategies to realize synergies and integration throughout the business. I take this opportunity to personally welcome Gatos Silver shareholders into First Majestic as we create the industry’s leading intermediate primary silver producer. Finally, I welcome our joint venture partner, Dowa Metals and Mining, with whom we look forward to working closely at Cerro Los Gatos as a supportive and trusted partner.’

These acquisitions underscore the growing trend of land asset expansion and consolidation among silver miners.

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Blue Lagoon Resources to Participate in Canada’s Premier Mining Investor Conference in Quebec City

Blue Lagoon Resources Inc. (CSE: BLLG) (FSE: 7BL) (OTCQB: BLAGF) (the ‘Company’) is pleased to announce that President & CEO Rana Vig will be attending and presenting at The Mining Investment Event of the North, Canada’s premier mining investment conference, taking place June 3-5, 2025, in Québec City.

Mr. Vig will meet with institutional investors, fund managers, and analysts from across North America and abroad to present the Company’s progress toward gold production that is expected to commence this summer at its high-grade Dome Mountain Gold Project, featuring an average grade of 9 grams per tonne (g/t) and located in one of the best mining jurisdictions in the world, just outside Smithers, British Columbia.

‘With Dome Mountain fully permitted and scheduled to begin production this summer, we are entering an exciting phase of growth,’ said Mr. Vig. ‘We’re one of the few junior gold companies positioned to generate near-term cash flow in a rising gold market, while offering significant long-term upside through exploration.’

The three-day event brings together a curated group of emerging and established mining companies for targeted one-on-one meetings and panel discussions with leading investors and industry experts. Participation supports Blue Lagoon’s strategy to actively expand its investor base and raise awareness of its uniquely positioned project.

About Blue Lagoon Resources Inc.

Blue Lagoon Resources is a Canadian based publicly listed mining company (CSE: BLLG) (FSE: 7BL) (OTCQB: BLAGF) focused on building shareholder value through the aggressive development of its 100% owned Dome Mountain Gold project. The Company is run by professionals with significant finance and mining experience and operates within a prime mining jurisdiction in British Columbia, Canada. With the granting of a full mining permit, a key milestone achieved in February 2025 – one of only nine such permits issued in British Columbia since 2015 – Blue Lagoon is now focused on last preparatory activities and tasks related to the safe and secure opening of the Dome Mountain Gold Mine, targeting Q3 2025 as the start of gold production. The Company’s primary objective has always been to become a cash-flowing mining company, to ultimately deliver tangible monetary value to shareholders, state, and local communities.

The Company is not basing its production decision at Dome Mountain on a feasibility study of mineral reserves demonstrating economic and technical viability. The production decision is based on having existing mining infrastructure, past bulk sampling and processing activity, and the established mineral resource. The Company understands that there is increased uncertainty, and consequently a higher risk of failure, when production is undertaken in advance of a feasibility study.

For further information, please contact:

Rana Vig
President and CEO
Telephone: 604-218-4766
Email: ranavig@bluelagoonresources.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this release, other than statements of historical facts, that address events or developments that Blue Lagoon Resources Inc. (the ‘Company’) expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘targets’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’, ‘mine’, ‘production’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of gold and silver prices, delays in mine development activities, future cash flow expectations and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management, contractors and consultants on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s, contractor’s and consultants’ beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/253799

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