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Senate Democrats aren’t ready to concede in their push for stringent reforms to the Department of Homeland Security (DHS) and are ready to buck Senate Republicans’ plans to avert a partial shutdown. 

Their resistance comes as Senate Republicans and the White House have floated a counteroffer to Democrats’ proposed DHS and Immigration and Customs Enforcement (ICE) reforms. But the two sides remain far apart on a deal to fund the agency, and they are quickly running out of time.

Sen. Chris Murphy, D-Conn., the top-ranking Senate Democrat on the Homeland Security spending panel, said he would not support another short-term DHS funding extension unless Republicans made meaningful concessions on immigration enforcement.

Murphy also dismissed the White House’s proposal as a list of ‘sophomoric talking points.’

‘We had plenty of time, they wasted two weeks,’ Murphy said. ‘They still haven’t given us any meaningful answer or response.’ 

His position is shared by several Senate Democrats who have unified around a push to codify a list of 10 DHS reforms. Those include requirements that ICE agents obtain judicial warrants, unmask and display identification, provisions Republicans have labeled red lines.

The standoff follows criticism late Monday from Senate Minority Leader Chuck Schumer, D-N.Y., and House Minority Leader Hakeem Jeffries, D-N.Y., who rejected President Donald Trump’s counteroffer.

In a joint statement, the leaders said the proposal ‘is both incomplete and insufficient in terms of addressing the concerns Americans have about ICE’s lawless conduct.’ Jeffries added he would not support another short-term funding patch, known as a continuing resolution (CR), Tuesday morning. 

Schumer argued that there was plenty of time to hash out a deal. 

‘There’s no reason we can’t get this done by Thursday,’ he said. 

With Friday’s funding deadline approaching, Senate Majority Leader John Thune, R-S.D., teed up a backup plan Tuesday night as the risk of a shutdown grew.

Thune and Senate Republicans have warned since Trump and Schumer finalized a broader funding agreement earlier this month that Congress did not have enough time to negotiate and pass a revised DHS funding bill in just two weeks.

‘I understand that, on the other side of the Capitol, the Democrats are already objecting to that, which is no big surprise since they haven’t voted for anything yet,’ Thune said.

‘I think there are Democrats in both the House and the Senate who do want to see this addressed,’ he added. ‘I’m hopeful the conversations lead to an outcome, but we probably won’t know by the time the current CR expires.’

As with most funding fights, both parties accuse the other of failing to negotiate in good faith.

‘I’m not for putting DHS on a CR until they show us they are serious about doing something,’ Sen. Patty Murray, D-Wash., the top-ranking Democrat on the Senate Appropriations Committee, told Fox News Digital.

Republicans counter that Democrats spent more than a week drafting their proposal, while the White House produced a counteroffer in less than two days.

Sen. Markwayne Mullin, R-Okla., told Fox News Digital Republicans didn’t expect their counterparts to accept their offer, ‘but we didn’t accept theirs either.’ 

‘Hopefully, this is a working footprint,’ Mullin said. ‘We can start negotiating because we’re definitely not accepting their things. But the thing is, what we’re trying to do is protect the ability for ICE and our border agents to do their job. I think it’s pretty clear, though, unless the Democrats want to shut down DHS, we’re going to have to do another CR.’

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The Justice Department has installed a Missouri-based U.S. prosecutor to head the Trump administration’s election probe in Fulton County, Georgia, according to recent court records, marking the latest instance in which an out-of-state prosecutor has been tasked with a leading role in a politically charged case.

The involvement of Thomas Albus, U.S. attorney for the Eastern District of Missouri, was revealed last month when he signed off on a Fulton County search warrant that authorized the FBI’s raid of a key Georgia election hub. The warrant authorized federal agents to seize a broad range of election records, voting rolls, and other data tied to the 2020 election, according to a copy reviewed by Fox News Digital.

The news, and the timing of Albus’ appointment, have sparked questions over the scope of the effort, including whether it is a one-off designed to shore up election-related vulnerabilities ahead of the midterms or part of a broader test case for expanded federal authority.

It also prompted Fulton County officials to sue the FBI earlier this month, demanding the return of the seized ballots.

The FBI’s decision to order the raid remains unclear, adding further uncertainty as to why Trump may have tapped Albus.

But the scope of the case is significant. Fulton County officials told reporters this month that FBI agents were seen carrying some 700 boxes of ballots from a warehouse near the election hub and loading them into a truck.

More answers could be revealed soon. The judge assigned to rule on Fulton County’s motion ordered the Justice Department to file by 5 p.m. Tuesday the arguments it made in its effort to obtain the search warrant. 

But it’s unclear how much information will be revealed as many of the documents are widely expected to remain under seal. 

Still, the installation comes as Fulton County emerged as ‘ground zero’ for complaints about voter fraud in the wake of the 2020 presidential elections, including from Trump, who lost the state to former President Joe Biden by a razor-thin margin.

And while it’s not the first time Trump’s Justice Department has sought to assign prosecutors to issues outside their district lines, unlike other efforts, the legality of Albus’s role in the district is likely to be upheld. 

Attorney General Pam Bondi reportedly tapped Albus last month to oversee election integrity cases nationwide, according to multiple news outlets. 

The DOJ did not immediately return Fox News Digital’s request for comment on the nature of his role in Georgia or elsewhere.

Under federal law — 28 U.S. Code § 515 — Bondi has the legal authority to appoint an individual to coordinate civil and criminal cases, including grand jury proceedings, across all federal districts nationwide. 

Albus also spent years as an assistant U.S. attorney for the Justice Department, where he helped prosecute hundreds of federal cases and jury trials, including on charges of white-collar crime, tax offenses, public corruption, and more.

Still, his installment is not completely without criticism. 

Some have played up his role as a former deputy attorney for then-Missouri Attorney General Eric Schmitt in 2020. 

Schmitt, now a U.S. senator, was one of 17 Republican attorneys general who filed a brief supporting Trump’s push to invalidate the election results of four battleground states after the election. 

There are key differences between his installment and the installment of former Trump lawyer Lindsey Halligan, tapped last year to serve as interim U.S. attorney for the Eastern District of Virginia. She was also the sole prosecutor who secured the indictments against former FBI director James Comey and New York Attorney General Letitia James.

A judge ruled in November she was illegally appointed to her role, prompting the dismissals of both cases.

Legal experts have cited differences between Halligan’s role and Albus’s role, which appears to enjoy wide protection under federal law.

‘Unlike Halligan, Albus’ appointment appears to be lawful under a federal statute that permits the attorney general to direct ‘any other officer of the Department of Justice’ to ‘conduct any kind of legal proceeding, civil or criminal … whether or not he is a resident of the district in which the proceeding is brought,’’ Barbara McQuade, a former U.S. attorney and University of Michigan Law School professor, said in a Bloomberg op-ed.

‘But sidelining Atlanta U.S. Attorney Theodore Hertzberg in favor of Albus is concerning nonetheless — especially given his ties to Trump allies.’

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Israeli Prime Minister Benjamin Netanyahu will meet President Donald Trump at the White House on Wednesday in a visit expected to center on Iran, as Washington weighs diplomacy against the threat of military action and Israel pushes to shape the scope of negotiations.

Trump has signaled the Iranian file will dominate the agenda. In a phone interview with Axios, the president said Tehran ‘very much wants to reach a deal,’ but warned, ‘Either we make a deal, or we’ll have to do something very tough — like last time.’

Netanyahu, speaking before departing Israel for Washington, said he intends to present Israel’s position. ‘I will present to the president our concept regarding the principles of the negotiations — the essential principles that are important not only to Israel but to anyone who wants peace and security in the Middle East,’ he told reporters.

The meeting comes days after U.S. and Iranian officials resumed talks in Oman for the first time since last summer’s 12-day war, while the United States continues to maintain a significant military presence in the Gulf — a posture widely viewed as both deterrence and for holding leverage in negotiations with Tehran.

From the U.S. perspective, Iran is seen as a global security challenge rather than a regional one, according to Jacob Olidort, chief research officer and director of American security at the America First Policy Institute. ‘It’s an important historic time of potentially seismic proportions,’ he told Fox News Digital.

‘Iran is not so much a Middle East issue. It’s a global issue affecting U.S. interests around the world,’ he added, calling the regime ‘probably the world’s oldest global terror network… [with] thousands of Americans killed through proxies.’

Olidort said the administration’s strategy appears to combine diplomacy with visible military pressure. ‘The president has been clear… should talks not be successful, the military option cannot be off the table,’ he said. ‘Military assets in the region serve as part of the negotiation strategy with Iran.’

For Israel, the main concern is not only Iran’s nuclear program but also its ballistic missile arsenal and regional network of armed groups.

Trump indicated to Axios that the United States shares at least part of that view, saying any agreement would need to address not only nuclear issues but also Iran’s ballistic missiles. 

Israeli intelligence expert Sima Shein has warned that negotiations narrowly focused on nuclear restrictions could leave Israel exposed. ‘The visit signals a lack of confidence that American envoys, Witkoff and Kushner, alone can represent Israel’s interests in the best way. They were in Israel just a week ago — but Netanyahu wants to speak directly with Trump, so there is no ambiguity about Israel’s position,’ she added.

Shein says Iran may be stalling diplomatically to see whether Washington limits talks to nuclear issues while avoiding missile constraints. Her analysis further suggests that a sanctions-relief agreement that leaves Iran’s broader capabilities intact could stabilize the regime at a moment of internal pressure while preserving its military leverage. 

‘An agreement now would effectively save the regime at a time when it has no real solutions to its internal problems. Lifting sanctions through a deal would give it breathing room and help stabilize it,’ she said.

‘If there is an agreement, the United States must demand the release of all detainees and insist on humanitarian measures, including medical support for those who have been severely injured. Washington would need to be directly involved in enforcing those provisions.’

Netanyahu said before leaving Israel that he and Trump would discuss ‘a series of topics,’ including Gaza, where a U.S.-backed postwar framework and ceasefire implementation remain stalled. 

According to Israeli reporting, Netanyahu plans to tell Trump that phase two of the Gaza peace plan ‘is not moving,’ reflecting continued disputes over disarmament, governance and security arrangements.

The timing of Netanyahu’s visit may also allow him to avoid returning to Washington the following week for the inaugural session of the Board of Peace, Shein said, noting the initiative is controversial in Israel’s parliament. 

‘Israel is deeply concerned about the presence of Turkey and Qatar on the board of peace and their malign influence on other members as well as on the Palestinian authority’s technocratic government,’ Dan Diker, president of the Jerusalem Center for Security and Foreign Affairs, told Fox News Digital.

‘Hamas’s control of Gaza has not weakened, while international commitments to disarm Hamas have appeared to weaken,’ he added, ‘The longer the U.S. waits before taking action against the Iranian regime, the more compromised Israel is in its ability and determination to forcibly disarm Hamas, both of which require the sanction and the blessing of the new international structures on Gaza.’

‘The prime minister’s deep concern is the stalled state of affairs both against the Iranian regime and apparently in Gaza. Timing is critical on both fronts. And for Israel, the window seems to be closing,’ Diker said.  

 

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The U.S. Food and Drug Administration (FDA) refused to consider Moderna’s application for a new flu vaccine using mRNA technology, the company announced Tuesday, a decision that could delay the introduction of a shot designed to offer stronger protection for older adults.

Moderna said it received what’s known as a ‘refusal-to-file’ (RTF) letter from the FDA’s Center for Biologics Evaluation and Research (CBER), citing the lack of an ‘adequate and well-controlled’ study with a comparator arm that ‘does not reflect the best-available standard of care.’

Stéphane Bancel, chief executive officer of Moderna, said the FDA’s decision did not ‘identify any safety or efficacy concerns with our product’ and ‘does not further our shared goal of enhancing America’s leadership in developing innovative medicines.’

‘It should not be controversial to conduct a comprehensive review of a flu vaccine submission that uses an FDA-approved vaccine as a comparator in a study that was discussed and agreed on with CBER prior to starting,’ Bancel said in a statement. ‘We look forward to engaging with CBER to understand the path forward as quickly as possible so that America’s seniors, and those with underlying conditions, continue to have access to American-made innovations.’

The rare decision from the FDA comes amid increased scrutiny over vaccine approvals under Health Secretary Robert F. Kennedy Jr., who has criticized mRNA vaccines and rolled back certain COVID-19 shot recommendations over the past year.

Kennedy previously removed members of the federal government’s vaccine advisory panel and appointed new members, and moved to cancel $500 million in mRNA vaccine contracts.

The FDA authorized COVID-19 vaccines for the fall for high-risk groups only. Last May, Kennedy announced the vaccines would be removed from the CDC’s routine immunization schedule for healthy children and pregnant women.

According to Moderna, the refusal-to-file decision was based on the company’s choice of comparator in its Phase 3 trial — a licensed standard-dose seasonal flu vaccine — which the FDA said did not reflect the ‘best-available standard of care.’

Moderna said the decision contradicts prior written communications from the FDA, including 2024 guidance stating a standard-dose comparator would be acceptable, though a higher-dose vaccine was recommended for participants over 65.

Moderna said the FDA ‘did not raise any objections or clinical hold comments about the adequacy of the Phase 3 trial after the submission of the protocol in April 2024 or at any time before the initiation of the study in September 2024.’

In August 2025, following completion of the Phase 3 efficacy trial, Moderna said it held a pre-submission meeting with CBER, which requested that supportive analyses on the comparator be included in the submission and indicated the data would be a ‘significant issue during review of your BLA.’

Moderna said it provided the additional analyses requested by CBER in its submission, noting that ‘at no time in the pre-submission written feedback or meeting did CBER indicate that it would refuse to review the file.’

The company requested a Type A meeting with CBER to understand the basis for the RTF letter, adding that regulatory reviews are continuing in the European Union, Canada and Australia.

Fox News has reached out to the Department of Health and Human Services for comment.

Fox News Digital’s Alex Miller and The Associated Press contributed to this report.

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The House of Representatives is readying to vote on a bill that would mandate photo identification for voters across the United States in the coming 2026 midterm elections.

The House Rules Committee, the final gatekeeper before most bills see a chamber-wide vote, advanced the SAVE America Act on Tuesday as conservatives continue to pressure the Senate to take up the bill after its likely House passage.

It’s a sweeping piece of legislation aimed at keeping non-citizens from participating in U.S. elections.

Democrats have attacked the bill as tantamount to voter suppression, while Republicans argue that it’s necessary after the influx of millions of illegal immigrants who came to the U.S. during the four years of the Biden administration.

Speaker Mike Johnson, R-La., told reporters it would get a vote on Wednesday.

The legislation is led by Rep. Chip Roy, R-Texas, in the House, and Sen. Mike Lee, R-Utah, in the Senate.

It is an updated version of Roy’s Safeguarding American Voter Eligibility (SAVE) Act, which passed the House in April 2025 but was never taken up in the Senate.

Whereas the SAVE Act would create a new federal proof of citizenship mandate in the voter registration process and impose requirements for states to keep their rolls clear of ineligible voters, the updated bill would also require photo ID to vote in any federal elections.

It would also require information-sharing between state election officials and federal authorities in verifying citizenship on current voter rolls and enable the Department of Homeland Security (DHS) to pursue immigration cases if non-citizens were found to be listed as eligible to vote.

The legislation is highly likely to pass the House, where the vast majority — if not virtually all — Republicans have supported similar pushes in the past.

But in the Senate, where current rules say 60 votes are needed to overcome a filibuster and hold a final vote on a bill, at least seven Democrats would be needed even if all Republicans stuck together.

It’s why House conservatives are pushing Senate GOP leaders to change rules in a way that would effectively do away with the 60-vote threshold, even if alternative paths mean paralyzing the upper chamber with hours of nonstop debate.

‘[Senate Majority Leader John Thune, R-S.D.] will take it up. The only question is, will he take it up in an environment where it can pass?’ Roy posed to Fox News Digital on Tuesday. 

‘My view is that the majority leader can and should. I’m not afraid of amendment votes…we should table all their amendments, force them to run through all their speaking, make them take the floor and filibuster.’

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LOS ANGELES — The world’s biggest social media companies face several landmark trials this year that seek to hold them responsible for harms to children who use their platforms. Opening statements for the first, in Los Angeles County Superior Court, begin this week.

Instagram’s parent company Meta and Google’s YouTube will face claims that their platforms deliberately addict and harm children. TikTok and Snap, which were originally named in the lawsuit, settled for undisclosed sums.

“This was only the first case — there are hundreds of parents and school districts in the social media addiction trials that start today, and sadly, new families every day who are speaking out and bringing Big Tech to court for its deliberately harmful products,” said Sacha Haworth, executive director of the nonprofit Tech Oversight Project.

At the core of the case is a 19-year-old identified only by the initials “KGM,” whose case could determine how thousands of other, similar lawsuits against social media companies will play out. She and two other plaintiffs have been selected for bellwether trials — essentially test cases for both sides to see how their arguments play out before a jury and what damages, if any, may be awarded, said Clay Calvert, a nonresident senior fellow of technology policy studies at the American Enterprise Institute.

It’s the first time the companies will argue their case before a jury, and the outcome could have profound effects on their businesses and how they will handle children using their platforms.

KGM claims that her use of social media from an early age addicted her to the technology and exacerbated depression and suicidal thoughts. Importantly, the lawsuit claims that this was done through deliberate design choices made by companies that sought to make their platforms more addictive to children to boost profits. This argument, if successful, could sidestep the companies’ First Amendment shield and Section 230, which protects tech companies from liability for material posted on their platforms.

“Borrowing heavily from the behavioral and neurobiological techniques used by slot machines and exploited by the cigarette industry, Defendants deliberately embedded in their products an array of design features aimed at maximizing youth engagement to drive advertising revenue,” the lawsuit says.

Executives, including Meta CEO Mark Zuckerberg, are expected to testify at the trial, which will last six to eight weeks. Experts have drawn similarities to the Big Tobacco trials that led to a 1998 settlement requiring cigarette companies to pay billions in health care costs and restrict marketing targeting minors.

“Plaintiffs are not merely the collateral damage of Defendants’ products,” the lawsuit says. “They are the direct victims of the intentional product design choices made by each Defendant. They are the intended targets of the harmful features that pushed them into self-destructive feedback loops.”

The tech companies dispute the claims that their products deliberately harm children, citing a bevy of safeguards they have added over the years and arguing that they are not liable for content posted on their sites by third parties.

“Recently, a number of lawsuits have attempted to place the blame for teen mental health struggles squarely on social media companies,” Meta said in a recent blog post. “But this oversimplifies a serious issue. Clinicians and researchers find that mental health is a deeply complex and multifaceted issue, and trends regarding teens’ well-being aren’t clear-cut or universal. Narrowing the challenges faced by teens to a single factor ignores the scientific research and the many stressors impacting young people today, like academic pressure, school safety, socio-economic challenges and substance abuse.”

A Meta spokesperson said in a recent statement that the company strongly disagrees with the allegations outlined in the lawsuit and that it’s “confident the evidence will show our longstanding commitment to supporting young people.”

José Castañeda, a Google Spokesperson, said that the allegations against YouTube are “simply not true.” In a statement, he said, “Providing young people with a safer, healthier experience has always been core to our work.”

The case will be the first in a slew of cases beginning this year that seek to hold social media companies responsible for harming children’s mental well-being.

In New Mexico, opening statements begin Monday for trial on allegations that Meta and its social media platforms have failed to protect young users from sexual exploitation, following an undercover online investigation. Attorney General Raúl Torrez in late 2023 sued Meta and Zuckerberg, who was later dropped from the suit.

Prosecutors have said that New Mexico is not seeking to hold Meta accountable for its content but rather its role in pushing out that content through complex algorithms that proliferate material that can be harmful, saying they uncovered internal documents in which Meta employees estimate that about 100,000 children every day are subjected to sexual harassment on the company’s platforms.

Meta denies the civil charges while accusing Torrez of cherry-picking select documents and making “sensationalist” arguments. The company says it has consulted with parents and law enforcement to introduce built-in protections to social media accounts, along with settings and tools for parents.

A federal bellwether trial beginning in June in Oakland, California, will be the first to represent school districts that have sued social media platforms over harms to children.

In addition, more than 40 state attorneys general have filed lawsuits against Meta, claiming it is harming young people and contributing to the youth mental health crisis by deliberately designing features on Instagram and Facebook that addict children to its platforms. The majority of cases filed their lawsuits in federal court, but some sued in their respective states.

TikTok also faces similar lawsuits in more than a dozen states.

This post appeared first on NBC NEWS

Dr. Adam Trexler, founder and president of Valaurum, shares his thoughts on gold, identifying a key issue he sees developing in the physical market.

‘There’s a crisis in the physical gold market,’ he said, explaining that sector participants need to figure out how to serve investors who want to own gold, but can’t afford current bar and coin prices.

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

This post appeared first on investingnews.com

Relationship Represents Potential Long Term Scalability of High Efficiency Supply Chain from Demonstration to Commercial Scale

Syntholene Energy CORP (TSXV: ESAF) (FSE: 3DD0) (OTCQB: SYNTF) (‘Syntholene’ or the ‘Company’) announces that it has selected Dynelectro ApS (Denmark) as the electrolyzer technology vendor for its planned synthetic fuel demonstration facility in Iceland. Dynelectro is the developer of what it describes as the world’s most efficient electrolyzer platform, purpose-built for high-performance hydrogen production in power-to-liquids applications for synthetic fuel (‘eFuel’) and, more specifically, synthetic sustainable aviation fuel (‘eSAF’).

Dynelectro’s electrolyzer platform has demonstrated industry-leading energy efficiency in the production of hydrogen, a key feedstock to eFuels, while maintaining durability under continuous industrial operation at variable load. The system architecture emphasizes reduced balance-of-plant complexity, high current density operation, and modular deployment, characteristics that align closely with Syntholene’s objective of developing capital-efficient, repeatable synthetic fuel infrastructure.

The planned demonstration facility is intended to validate the Company’s integrated approach to producing low-cost hydrogen as a feedstock to eSAF and other eFuels, with a focus on scalability, energy efficiency, and long-term cost competitiveness with fossil fuels.

‘Syntholene’s eSAF production plans are a perfect match for Dynelectro’s electrolyser solution,’ explains Sune Lilbaek, CEO at Dynelectro ApS. ‘To be successful in the eSAF market, the lowest possible cost of hydrogen over the lifespan of the plant is a necessity. Dynelectro’s unique take on SOEC electrolysers seeks to enable the lowest possible energy consumption and maintenance cost. When integrated with Syntholene’s proprietary hybrid thermal production system, it is possible to convert up to 90% of the renewable electrical energy supplied into clean hydrogen. Together, we expect to be deploying the most cost-effective, energy-efficient solution for production of sustainable aviation fuel on the market today.’

The vendor selection represents a key technical milestone for Syntholene as it advances engineering and procurement activities associated with its first demonstration-scale facility.

‘The selection of Dynelectro is the result of a rigorous two-year technical and commercial evaluation process across all major vendors focused on efficiency, reliability, and long-term scalability,’ said Dan Sutton, CEO of Syntholene. ‘Electrolyzer performance coupled with low-cost clean energy are the primary drivers of synthetic fuel economics. Partnering with a technology provider that prioritizes energy efficiency and industrial robustness is critical as we move from demonstration toward multi-megawatt commercial deployment.’

About Syntholene

Syntholene is actively commercializing its novel Hybrid Thermal Production System for low-cost clean fuel synthesis. The target output is ultrapure synthetic jet fuel, manufactured at 70% lower cost than the nearest competing technology today. The company’s mission is to deliver the world’s first truly high-performance, low-cost, and carbon-neutral synthetic fuel at an industrial scale, unlocking the potential to produce clean synthetic fuel at lower cost than fossil fuels, for the first time.

Syntholene’s power-to-liquid strategy harnesses thermal energy to power proprietary integrations of hydrogen production and fuel synthesis. Syntholene has secured 20MW of dedicated energy to support the Company’s upcoming demonstration facility and commercial scale-up.

Founded by experienced operators across advanced energy infrastructure, nuclear technology, low-emissions steel refining, process engineering, and capital markets, Syntholene aims to be the first team to deliver a scalable modular production platform for cost-competitive synthetic fuel, thus accelerating the commercialization of carbon-neutral eFuels across global markets.

About Dynelectro

Dynelectro is a Danish SOE electrolyser OEM at the forefront of developing advanced, sustainable energy solutions. Utilising cutting-edge solid-oxide electrolysis technology, Dynelectro achieves unprecedented system performance and lifespan, enabling a five-fold improvement in lifetime performance through a novel approach to stack control and integration. Their innovations enable operators to seamlessly adjust production based on the availability of cost-effective renewable energy.

The company commercialises MW-scale Dynamic Electrolyser Units (DEUs), producing clean hydrogen to unlock syngas and e-fuel production. Dynelectro was founded in 2018 and is headquartered in the capital region of Denmark. Visit www.dynelectro.dk

For further information, please contact:
Dan Sutton, CEO
comms@syntholene.com
www.syntholene.com

Investor Relations
KIN Communications Inc.
604-684-6730
ESAF@kincommunications.com

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words ‘expect’, ‘anticipate’, ‘aims’, ‘continue’, ‘estimate’, ‘objective’, ‘may’, ‘will’, ‘project’, ‘should’, ‘believe’, ‘plans’, ‘intends’ and similar expressions are intended to identify forward-looking information or statements. All statements, other than statements of historical fact, including but not limited to statements regarding the use of a particular vendor, the services to be provided and standard of delivery, expected benefits of engagement of certain service providers, development of the Company’s test facility, commercial scalability, technical and economic viability, anticipated geothermal power availability, anticipated benefit of eFuel, the Company’s business plans, and future commercial opportunities, are forward-looking statements.

The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including without limitation the assumption that the Company will be able to execute its business plan, that the eFuel will have its expected benefits, that the selected vendor will be able to complete their deliverables on time and to the standard expected, that the test facility will be completed as planned, that there will be market adoption, and that the Company will be able to access financing as needed to fund its business plan. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they 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 could differ materially from those currently anticipated due to a number of factors and risks, including, without limitation, Syntholene’s ability to meet production targets, realize projected economic benefits, meet targeted timelines for development, overcome technical challenges, secure financing, maintain regulatory compliance, manage geopolitical risks, and successfully negotiate definitive terms. Syntholene does not undertake any obligation to update or revise these forward-looking statements, except as required by applicable securities laws.

Readers are advised to exercise caution and not to place undue reliance on these forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283350

News Provided by TMX Newsfile via QuoteMedia

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Gold often dominates conversations at the annual Vancouver Resource Investment Conference (VRIC), but silver’s price surge, which began in 2025 and continued into January, placed the metal firmly in the spotlight.

At this year’s silver forecast panel, Commodity Culture host and producer Jesse Day sat down with Maria Smirnova, senior portfolio manager and senior investment officer Sprott (TSX:SII,NYSE:SII); GoldSeek President and CEO Peter Spina; Peter Krauth, editor of Silver Stock Investor and Silver Advisor; and Silver Tiger Metals (TSXV:SLVR,OTCQX:SLVTF) President and CEO Glenn Jessome to discuss silver’s meteoric performance and where it could be headed next.

Significant tailwinds supporting silver

Over the past five years, the silver price has largely stagnated, trading between US$20 and US$25 per ounce until mid-2024 when the white metal crossed the US$30 mark. Even then, the price mostly held steady until 2025, when it crossed the US$35 mark in June, then passed US$40 in September and US$50 in October.

However, the most significant rise came at the start of December, when momentum took over, sending silver on a historic run that pushed it to a record high of US$116 by the end of January.

Behind these meteoric gains was a highly volatile silver market, which, despite strong fundamentals, became highly speculative and attractive to investors seeking an alternative to gold, which is also trading at all-time highs.

“You buy gold to prevent losing money, and you buy silver to make money, to buy more gold,” Spina said.

Silver is in the midst of a six-year structural supply deficit, with the expectation that it will continue through 2026.

A key driver of this deficit is silver’s growing role in industrial applications. Although its biggest gains have come from its use in solar panel production, it’s also important to several other sectors, including automotive and defense.

“We wouldn’t have a modern civilization without silver. It’s used in a myriad of different places, and what is interesting now is that silver is very critical to the national defense of the US, of China, of big superpowers. So it’s becoming weaponized,” Spina explained. He noted that the US designated silver a critical mineral in 2025, placing it alongside copper for strategic purposes, and suggested that stockpiling is likely underway.

In addition to demand driving the silver price, Spina also noted that investors who had been absent from the market for many years moved into net-buying positions last year, which has helped to accelerate the market.

“Its more serious than the gold market, because silver is so essential in our daily lives,” Spina said.

While demand increases, a serious situation is developing on the supply side. The majority of silver produced today comes as a byproduct from mining other metals like copper and zinc.

Jessome outlined how perilous the supply side is, noting that in 2025 there were just 52 primary silver mines worldwide; by the end of 2026, that number is expected to fall to 46, and in 2027 to 39.

With so few mines and high prices, the expectation is that there would be new production set to come online, and although there are some in the pipeline, including Jessome’s Silver Tiger, the reality is that starting a new mine is fraught with challenges. He noted that, from the first drill hole to production, the average time is 17 years.

“From that first drill hole to a commercial mine, it’s one in 1,000. So if you think that we’re going to solve this 39 in the next year, it’s not easy, it’s hard,” Jessome told the VRIC audience.

He continued to explain that, regardless of what happens with the price, people don’t realize there’s not enough silver.

Bull markets, retractions and getting ahead

Even though silver’s fundamentals support high prices, the questions on many lips throughout VRIC were: ‘Is it too much too soon?’ and ‘Is it a bull market or is it a bubble?’

The consensus was that the metal remains in a bull market, but is exhibiting some bubble-like characteristics; investors can expect corrections, but silver will likely maintain momentum.

“We’re multiple percent above the 200 day moving average. This is not something that’s sustainable. If we continue at this pace, it would suck all the money from the markets into this one asset. It’s not likely to continue,” Krauth said just days prior to a significant correction that took the silver price back below US$70.

He pointed to the 2001 to 2011 bull market: silver rose from US$4 to nearly US$50, but along the way, there were corrections. “There were five corrections of 15 percent or more. The average correction was 30 percent. That would take us to US$75, US$80 right now,” Krauth emphasized to the audience at VRIC.

While the expert explained that a silver correction of that magnitude wouldn’t be shocking, he also pointed out that miners would still be pretty happy at those prices.

Given the market volatility, Spina echoed much of Krauth’s belief that there is reason for investors to be excited but also urged caution, commenting, “I would be very, very cautious in trying to trade this, especially with leverage or anything like that, but I do think that we’re in the revaluation phase. Silver could go a lot higher, but along the way, we can get some very vicious pullbacks, and so one has to be ready for those events.’

Smirnova urged calm, and that she was hopeful for a correction, agreeing with Krauth that the parabolic trajectory of silver wasn’t sustainable, and saying she sees gold market as more steady.

She also suggested that, rather than chasing opportunities, investors should be patient and wait for them to come to them, rather than being fearful in such a volatile market.

“I would urge people to think, sit back, and think about the reasons why silver ran in the first place, and whether those reasons are continuing right now, and they will. I think the fundamentals haven’t changed for silver, using corrections as opportunities to reload, to enter, to buy things that you know you like as an investor,” Smirnova said.

Investor takeaway

Overall, the panel was in agreement that the main factors fueling a strong silver market, supply and demand, investment, and a bifurcated market, aren’t going anywhere anytime soon.

Demand for silver goes beyond investment and is set to play a crucial role in the energy transition, AI and technology, and national defense. However, they also agreed that it’s probably run up to fast, and needs a correction, which started to happen on January 29, but none expected the bull market to come to an end.

Smirnova did an excellent job of putting the changing silver market into perspective for investors.

“We mine and produce, between scrap and mining supply, 1 billion ounces a year at US$30. That was a US$30 billion market. At US$100 it’s a US$100 billion market. It’s nothing. We have companies trading at trillion-dollar valuations in the market. The whole silver market is $100 billion a year, so it really does not take a lot of money to move the price, and that’s why I think it’s gone from US$30 to US$100 in no time at all,” she said.

While these price shifts don’t require significant capital inflows, they make a significant difference across the sector. Krauth noted that the price of silver hasn’t really been factored in for silver developers or producers because their projections are currently based on prices that are two-thirds lower.

“Almost nobody ever uses spot prices. They’re arguably two-thirds below spot price,’ he said.

‘So when the next few quarters come in and the market starts to realize what kind of cash these projects are generating, I think that’s when the reality will start to set in,” Krauth added.

The panel was largely optimistic that opportunities will continue to arise in the silver market. They noted that physical silver prices tend to be more volatile, but there are safer options for investors who don’t want to miss out.

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

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Clear Commodity Network CEO and Mining Stock Daily host Trevor Hall opened his talk at the Vancouver Resource Investment Conference (VRIC) with a strong message: It is still possible to go broke in a bull market.

“I want to start with the simple but uncomfortable truth: most investors don’t lose money in bear markets,” he said.

“They lose it in bull markets. Bear markets are honest. Liquidity disappears; prices fall. Risk is obvious, and fear keeps people cautious. Bull markets, on the other hand, are deceptive.”

According to Hall, bull markets feed the idea that everything is working well.

Charts and spreadsheet data convince investors and business owners that it is the perfect time to make big decisions, making this the phase of the cycle where moves are based on impulse.

“Rising prices get confused with good business, compelling stores get confused with durable assets. Bull markets don’t expose bad ideas immediately; they carry, and that’s why the damage is so severe when cycles turn.”

For short, people get too excited, focusing on the potential weight of what they can earn soon without realizing how much they could lose in the long run.

Supercycle review

Ultimately, what is needed is a shift in mindset. Hall specified that the first point that has to be recognised is that bull markets do not mean that everyone is making money.

“High prices produce a false sense of security. They made marginal assets look competitive,” he said. “They mask permitting challenges, metallurgy issues, infrastructure gaps in management, weaknesses and too much capital changed too many projects simply because the spreadsheet said it works. Investors have need to learn from that in today’s market.”

Momentum is not directly proportional to skill, and government involvement does not eliminate risk.

He cited 2011 as the last super cycle that created enormous opportunities, but also created enormous mistakes.

At the time, companies jumped into spending on huge projects and capital expenditure blowout, not accounting for returns.

Some companies also lost control and went all in on mergers and acquisitions, while developers “pursued production growth for the sake of growth.”

The sector focused on volume, therefore burning investors. The market funded every project that screams as economic at high spot prices.

This lack of discipline led to over a decade’s worth of rebuilding mining credibility.

Now, the sector has changed. This time, companies that generate durable margins, stick to realistic timelines, manage risk and focus on humility will be rewarded.

It’s all in discipline.

Advice for companies

Hall specified certain aspects he believes investors who have learned from the super cycle are now looking for. We summarised them into five points:
  • Concrete de-risk plans with achievable milestones
  • Strict capital discipline, especially on operating and construction costs
  • Management teams with experience in leadership, permitting, engineering and community relations
  • Productive offtakes

“Capital is no longer betting solely on geology. It’s betting on execution,” the CEO stated. “Investors want to see alignment with users, so institutional investors are screening for policy alignment projects that strengthen domestic supply chains, support energy security and fit federal or state strategic priorities.”

Above all, across all this is transparency. Hall said that it is a must and called it “the new currency of trust in this sector.”

Advice for investors

“Many deposits look promising, far fewer have teams capable of construction and operations,” Hall said, adding that while high metal prices do help the sector, they also encourage a wave of marginal projects that do not deserve capital.

Maintaining high standards amidst high prices is vital. He advised investors to ask the following questions before making decisions:

  • Does the project work within conservative price limits or not? Does it have structural advantages?
  • Does it have grade, jurisdiction, scale and production cost?
  • Does the project matter? Does it solve a supply deficit?
  • Does it serve a strategic need, or is it simply additive but unnecessary?
  • Can management actually build it?

Making the right moves

Hall likened his industry recommendations to that of a chess game: make decisive moves and manage risks. It’s not just about what’s in front of you; it’s how you can win.

The industry is entering a new era where the investment cycle is not only driven by numbers and market forces, but by strategic necessity.

It is also the first time in decades that government capital, institutional capital and private capital are moving in the same direction, posing bigger opportunities.

Companies must learn to listen and execute to remain in the game for the next decade of resource development, and investors should come into the space with clear expectations.

“I think the ultimate word is check your discipline, because your discipline and your expectations need to be in line and more in tune than ever before,” Hall told companies.

“And for investors out there listening, you have to remember this: bull markets don’t make people rich by default; they reveal who already have the discipline.”

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

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