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State Department to begin mass layoffs of about 1,800 employees in coming days

Politics 3 Mins Read

The State Department informed U.S.-based employees on Thursday that it would soon begin laying off nearly 2,000 workers after the recent Supreme Court decision allowing the Trump administration to move forward with mass job cuts as part of its efforts to downsize the federal workforce.

The agency’s reorganization plan was first unveiled in April by Secretary of State Marco Rubio to eliminate functions and offices the department considered to be redundant. In February, President Donald Trump issued an executive order directing Rubio to revamp the foreign service to ensure that the president’s foreign policy is ‘faithfully’ implemented.

Employees affected by the agency’s ‘reduction in force’ would be notified soon, Deputy Secretary for Management and Resources Michael Rigas told employees in an email on Thursday.

‘First and foremost, we want to thank them for their dedication and service to the United States,’ Rigas said in the email.

‘Every effort has been made to support our colleagues who are departing, including those who opted into the Deferred Resignation Programs … On behalf of Department leadership, we extend our gratitude for your hard work and commitment to executing this reorganization and for your ongoing dedication to advancing U.S. national interests across the world,’ he added.

The department did not specify on Thursday how many people would be fired, but in its plans to Congress sent in May, it had proposed laying off about 1,800 employees of the 18,000 estimated domestic workforce. Another 1,575 were estimated to have taken deferred resignations.

The plans to Congress did not state how many of these workers would be from the civil service and how many from the foreign service, but it did say that more than 300 of the department’s 734 bureaus and offices would be streamlined, merged or eliminated.

Once affected staff have been notified, the department ‘will enter the final stage of its reorganization and focus its attention on delivering results-driven diplomacy,’ Rigas said in the email to colleagues.

The expectation is for the terminations to start as soon as Friday.

State Department spokesperson Tammy Bruce told reporters earlier on Thursday that the only reason there had been a delay in implementing force reductions is because the courts have stepped in, as she said the mass layoffs would be happening quickly.

‘There has been a delay – not to our interests, but because of the courts,’ Bruce noted. ‘It’s been difficult when you know you need to get something done for the benefit of everyone.’

‘When something is too large to operate, too bureaucratic, to actually function, and to deliver projects, or action, it has to change,’ she said.

Reuters contributed to this report.

This post appeared first on FOX NEWS

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Business

Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

Business 2 Mins Read

What’s “Froot Loops” in Italian?

The European confectionary company Ferrero has agreed to buy WK Kellogg Co., the manufacturer of iconic American cereals, for $3.1 billion.

The acquisition is set to bring the publicly traded maker of Froot Loops, Frosted Flakes and Rice Krispies under the privately owned Italian manufacturer of Nutella, Tic Tac and Kinder chocolates.

WK Kellogg, based in Battle Creek, Michigan, was spun off from Kellogg’s in 2023, splitting the company’s North American cereal business from its other snack products like Pringles and Pop-Tarts, a unit that is now owned by the publicly traded conglomerate Kellanova. WK Kellogg, one of North America’s largest cereal makers, saw its shares surge more than 30% Thursday on the news of the deal.

The agreement comes after years of slowing demand for sugary breakfast cereals as many consumers look for healthier options. WK Kellogg came under fire last year when CEO Gary Pilnick said on CNBC that households squeezed by food companies’ price hikes should consider eating “cereal for dinner” to save money, part of a marketing pitch the company was making as an answer to inflation.

Yet snack demand, too, has flagged recently, with The Campbell’s Co. and General Mills each warning this year of slower sales as customers prioritize square meals.

Ferrero Rocher chocolates.Alexander Sayganov / SOPA Images / LightRocket via Getty Images file

Ferrero, perhaps best known for its namesake Ferrero Rocher chocolates in gold foil, originated in Alba, Italy, after World War II and is now a multinational food maker headquartered in Luxembourg. The company reported revenue of 18.4 billion euros last fiscal year, up nearly 9% from the one before.

Ferrero executive chairman Giovanni Ferrero described the acquisition Thursday as “a key milestone” in an effort to grow its footprint in North America, where the closely held company sells an array of popular candies.

The deal is among a series of high-profile Ferrero acquisitions in recent years. The firm bought Butterfinger, Baby Ruth and other U.S. candy brands from Nestlé in 2018, then acquired Kellogg’s bakery business, including Famous Amos and Keebler, in 2019 along with the manufacturer of Halo Top ice cream in 2022.

After the transaction closes, WK Kellogg will be delisted from the New York Stock Exchange and become a wholly owned subsidiary of Ferrero. The deal is expected to close later this year.

This post appeared first on NBC NEWS

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Business

White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

Business 2 Mins Read

President Donald Trump’s budget chief on Thursday said that Federal Reserve Chairman Jerome Powell “has grossly mismanaged the Fed” and suggested he had misled Congress about a pricey and “ostentatious” renovation of the central bank’s headquarters.

The broadside by Office of Management and Budget Director Russell Vought opened up a new front in Trump’s war of words against Powell.

Trump has repeatedly called on the Fed chairman to cut interest rates, without success. He reportedly has considered firing Powell and, more recently, publicly naming the chairman’s replacement months earlier than the end of Powell’s term next spring.

Vought’s letter raises the question of whether Trump will seek to remove Powell for cause, at least ostensibly.

But the Supreme Court in a recent decision strongly suggested that Federal Reserve board members have special protection from being fired by a president.

“While continuing to run a deficit since FY23 (the first time in the Fed’s history), the Fed is way over budget on the renovation of its headquarters,” Vought wrote in a post on the social media site X.

“Now up to $2.5 billion, roughly $700 million over its initial cost,” Vought wrote. “The cost per square foot is $1,923–double the cost for renovating an ordinary historic federal building. The Palace of Versailles would have cost $3 billion in today’s dollars!”

Vought’s tweet linked to a letter he sent Powell that referenced the Fed boss’s June 25 testimony before the Senate Banking Committee.

“Your testimony raises serious questions about the project’s compliance with the National Capital Planning Act, which requires that projects like the Fed headquarters renovation be approved by the National Capital Planning Commission,” Vought wrote.

“The plans for this project called for rooftop terrace gardens, VIP private dining rooms and elevators, water features, premium marble, and much more,” he wrote.

But Powell, in his testimony, said, “There’s no VIP dining room. There’s no new marble. There are no special elevators. There are no new water features. There’s no beehives and there’s no roof terrace gardens,” Vought wrote.

“Although minor deviations from approved plans may be inevitable, your testimony appears to reveal that the project is out of compliance with the approved plan with regard to major design elements,” Vought wrote.

This post appeared first on NBC NEWS

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Stock

Breakout Watch: One Stock in Each Sector to Watch Now

Stock 1 Min Read

When sector performance shifts gears from one day to the next, it’s best to be prepared with a handful of stocks from the each of the sectors. 

In this hands-on video, David Keller, CMT, highlights his criteria for picking the top stocks in 10 of the 11 S&P sectors. 

Discover the importance of trends, moving averages in the right order, breakouts above resistance levels, relative strength, and many other conditions that make a stock a powerful candidate in each sector. You’ll also learn how to add annotations to your charts, set alerts, and identify potential breakout points. 

Whether you’re looking to diversify or line up your next investment, this video gives you a sector-by-sector playbook that you can put to work today. So, jump in now and get ahead of the next sector rotation. 

The video premiered on July 9, 2025. Watch on StockCharts’ dedicated David Keller page!

Previously recorded videos from Dave are available at this link.

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Stock

The Seasonality Trend Driving XLK and XLI to New Highs

Stock 6 Mins Read

For those who focus on sector rotation, whether to adjust portfolio weightings or invest directly in sector indexes, you’re probably wondering: Amid the current “risk-on” sentiment, even with ongoing economic and geopolitical uncertainties, can seasonality help you better anticipate shifts in sector performance?

Current Sector Performance Relative to SPY

To find out, let’s first look at how sectors are performing relative to the SPDR S&P 500 ETF (SPY), our S&P 500 proxy. The StockCharts Market Summary Mini Charts tab in the US Sectors panel shows you sector ETF performance and its relative performance against SPY.

FIGURE 1. MARKET SUMMARY US SECTORS PANEL. The new micro charts feature provides a chart of each sector’s ETF plus its relative performance against SPY, allowing you to gauge a sector’s strength against the broader market.

Looking at each sector chart over a three-month time frame, only two sectors are outperforming relative to SPY:

  1. Technology Select Sector SPDR Fund (XLK): Currently outperforming SPY by 13.85%.
  2. Industrial Select Sector SPDR Fund (XLI): Outpacing SPY by a modest 2.53%.

Spotlight on Technology and Industrials: Leading Sectors in a Risk-On Market

As a side note, Technology and Industrials are two sectors that align with the risk-on narrative. This suggests that the market is currently favoring higher-beta stocks (as XLK’s performance reflects) over safer sectors and that demand for industrial goods is generally rising, a sign investors expect the economy to strengthen.

Understanding Sector Seasonality: What History Tells Us

Now, let’s turn to seasonality. In this context, seasonality refers to the tendency for certain sectors to perform better during specific periods and worse during others. While past performance never guarantees future results, it can help you anticipate how a sector might behave based on historical tendencies, not certainties. 

So, what might the seasonality charts suggest about XLK and XLI in the coming months?.

XLK Seasonality Trends: Tech Sector’s Strongest Months

Take a look at XLK’s 10-year seasonality chart.

FIGURE 2. 10-YEAR SEASONALITY CHART OF XLK. While September appears to be tech’s only bearish month from a seasonality perspective, its strongest months are November and July. 

Over 10 years, July has been XLK’s second strongest month, with positive closes 90% of the time and an average monthly return of 4%. The most profitable month is November, with an 89% positive close rate and a 5% average monthly return. August isn’t bad, but July is exceptionally strong and reflects its current overall performance.

XLI Seasonality Patterns: When Industrials Tend to Outperform

Switching over to a seasonality chart of XLI, we get a similar picture.

FIGURE 3. 10-YEAR SEASONALITY CHART OF XLI. July is XLI’s strongest month for positive closes, and November is its strongest month for average seasonal returns.

This pattern is pretty exceptional: over the last 10 years, XLI has posted a historical 100% positive close rate in July, with an average return of 3.5%. The strongest returns, however, tend to occur in November, which shows an 89% positive close rate and an average return of 6.5%. The months in between are relatively unremarkable, making July and November stand out significantly. 

Technical Analysis of XLK and XLI

Will July be another up-month for XLK and XLI? Starting with XLK, let’s switch over to a six-month daily chart.

FIGURE 4. DAILY CHART OF XLK. Tech’s upward trajectory is now in overbought territory, yet there’s little sign of slowing.

XLK is at an all-time high, and there’s no clear indication that it’s pulling back just yet. 

Meanwhile, the Relative Strength Index (RSI) is suggesting that XLK has been occupying overbought territory since late June. However, bear in mind that an RSI reading at this level can sustain itself for an extended period. And if you look at the On Balance Volume (OBV) indicator, it suggests that the buying pressure trend is still rising with no signs of slowing down.

Actionable Tip: Remember, July is one of XLK’s historically strong seasonal months. 

  • But if it does pull back soon, you might expect a bounce near $242.50, which is an area marked by a series of historical swing highs. 
  • Notice how the ZigZag line highlights these key swing points. 
  • Other areas of support sit around $235, its most recent swing low, and $225, the level of its most recent swing low.

Now let’s turn to the daily chart of XLI.

FIGURE 5. DAILY CHART OF XLI. Industrials are also surging, although buying pressure may be starting to decline.

Similar to the previous chart, XLI shows a move higher that places it well into all-time high territory. July is also an exceptionally strong month for XLI, but does it have enough fuel to return the seasonal 3.5% that it typically averages this month?

The RSI signals that XLI may be overbought, which, again, can remain there for some time, while the OBV suggests that buying pressure may be easing into a pullback. However, price continues its upward trajectory.

Actionable Tip: If XLI dips, the pullback may be shallow, potentially bouncing near $145, its most recent swing high. A more substantial support level lies around $141, where multiple swing lows have formed. If XLI drops below $141, you can expect further downside movement.

At the Close

While no strategy can guarantee success, combining seasonality insights with price action can help improve your market timing. Keep an eye on support levels as well as momentum and volume. Remember that the strongest months for XLK and XLI tend to be July (the current month) and November. You can add XLK and XLI to your ChartLists and keep an eye on them, especially in the months ahead. 

However, the big takeaway here is to consider using seasonality charts alongside the various tools in the Market Summary, whether you’re considering an individual stock, index (sector or industry), or other asset classes, like commodities and monetary metals. While price action can help you nail down specific market opportunities, seasonality charts can help contextualize current price action and anticipate potential future market scenarios.

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

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Stock

Want Faster, Lower Risk Trades? Use This Setup

Stock 1 Min Read

A good trade starts with a well-timed entry and a confident exit. But that’s easier said than done. 

In this video, Joe Rabil of Rabil Stock Research reveals his go-to two-timeframe setup he uses to gain an edge in his entry and exit timings and reduce his investment risks. 

Joe shows you how he spots the big trends on a higher timeframe chart and then drops to a shorter timeframe chart to pinpoint his entries and exits. Watch him dissect the S&P sectors, overall market, and specific symbols using the multiple timeframe approach. Follow along and come up with a systematic method that can help you gain more confidence in your investment decisions.  

The video premiered on July 2, 2025. Click this link to watch on Joe’s dedicated page. 

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

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Stock

Small Caps Are Rotating In — Here’s Why It Matters

Stock 1 Min Read

After months of whiplash sector swings, the market may finally be showing signs of settling down. 

In this video, Julius de Kempenaer uses Relative Rotation Graphs (RRG) to analyze asset class rotation at a high level and then dives into sectors and factors. Julius highlights the rotation into cryptocurrencies and the S&P 500, followed by an analysis of the S&P sectors that are driving the market’s move higher. He then analyzes factors — growth, value, and size. 

Discover where capital is shifting now, which sectors are powering the broad index advance, and which factors are displaying or hinting at fresh leadership. You might find a few surprises.

If you’re hunting for the next move or want a clear road map of the stock market’s rotation story, this video is your cheat sheet. 

The video was originally published on July 9, 2025. Watch it on our dedicated page for Julius.

Past videos from Julius can be found here.

#StayAlert, -Julius

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Investing

Osisko Metals Infill and Expansion Drilling Intersects New Wide Mineralization at Gaspé Copper

Investing 18 Mins Read

 

   New Expansion Hole Intersects    279    Metres Averaging    0.49    % Cu   

 

   Nine Drill Rigs Now Active on Site   

 

Osisko Metals Incorporated (the ‘ Company or ‘ Osisko Metals ‘) ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.

 

 Osisko Metals Chief Executive Officer Robert Wares commented: ‘Today’s new results continue to confirm the large-scale potential of mineralization at Gaspé Copper. Expansion hole 30-1090 in particular has intersected a significant mineralized width, underscoring the excellent prospects for increasing the size of the known deposit towards the south. The program is advancing well, with a ninth drill rig added recently to accelerate the definition and expansion program.’

 

Significant new analytical results are presented below and include 25 mineralized intercepts from eight drill holes (Table 1). The infill intercepts are all located inside the defined 2024 Mineral Resource Estimate model (‘MRE’, see November 14, 2024 news release ), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. The expansion intercepts are all located outside the 2024 MRE model and may lead to additional resources that will be classified appropriately within the next MRE update. Maps showing hole locations are available at www.osiskometals.com .

 

 

 

 

 

   Highlights:   

 

  • Drill hole 30-1090
    •   279.0   metres averaging 0.49% Cu (expansion)

      •  

    •   108.0 metres averaging 0.84% Cu (expansion)

      •  

    •  

  • Drill hole 30-1078
    •   256.5   metres averaging 0.25   % Cu (infill)

      •  

    •   381.0   metres averaging 0.22   % Cu (expansion)

      •  

    •  

  • Drill hole 30-1079
    •   319.5   metres averaging 0.28   % Cu (infill)

      •  

    •   180.0   metres averaging 0.37   % Cu (expansion)

      •  

    •  

  • Drill hole 30-1081
    •   301.8   metres averaging 0.41% Cu (infill)

      •  

    •   44.5   metres averaging 0.23   % Cu (expansion)

      •  

    •  

  • Drill hole 30-1084
    •   471.4   metres averaging 0.25   % Cu (infill)

      •  

    •   55.4   metres averaging 0.33   % Cu (expansion)

      •  

    •   89.7   metres averaging 0.29   % Cu (expansion)

      •  

    •  

  • Drill hole 30-1080
    •   520.5   metres averaging 0.23   % Cu (infill)

      •  

    •   195.0   metres averaging 0.26   % Cu (expansion)

      •  

    •  

  Table 1: Infill and Expansion Drilling  

 

                                                                                                                                                                                                                                                                                       

  DDH No.     From (m)     To (m)     Width (m)     Cu %     Ag g/t     Mo %     CuEq*     Type  
  30-1077     129.0     201.0     72.0     0.22     2.71        0.24     Infill  
  And     291.0     313.5     22.5     0.23     2.62     0.009     0.28     Infill  
  And     384.0     399.0     15.0     0.52     3.73        0.55     Infill  
  And     428.5     450.7     22.2     0.30     2.33     0.006     0.34     Infill  
  And     481.5     553.5     72.0     0.19     1.41     0.013     0.25     Expansion  
  And     603.8     777.0     173.2     0.27     1.49     0.035     0.42     Expansion  
  30-1078     6.0     262.5     256.5     0.25     1.79     0.008     0.29     Infill  
  And     307.5     688.5     381.0     0.22     1.69     0.022     0.32     Expansion  
  30-1079     22.5     342.0     319.5     0.28     2.14     0.008     0.32     Infill  
  And     456.0     636.0     180.0     0.37     2.54     0.007     0.41     Expansion  
   (Including)       480.7       481.8       1.1       8.66       35.2           8.84     Expansion  
  30-1080     15.0     535.5     520.5     0.23     1.02     0.013     0.29     Infill  
  And     774.0     969.0     195.0     0.26     1.28     0.030     0.39     Expansion  
  30-1081     42.0     71.0     29.0     0.16     1.79        0.18     Infill  
  And     94.0     395.8     301.8     0.41     3.36     0.006     0.45     Infill  
   (Including)       322.3       330.0       7.7       1.99       14.58           2.08     Infill  
  And     445.5     490.0     44.5     0.23     1.32        0.28     Expansion  
  30-1084     5.6     477.0     471.4     0.25     1.95     0.009     0.30     Infill  
  And     522.6     578.0     55.4     0.33     2.64     0.041     0.51     Expansion  
  And     616.8     706.5     89.7     0.29     1.93     0.012     0.35     Expansion  
  30-1086     14.1     166.5     152.4     0.18     0.73        0.19     Infill  
  And     219.0     250.5     31.5     0.22     1.13        0.23     Infill  
  And     433.1     466.5     33.4     0.25     1.12        0.26     Infill  
  And     888.5     949.5     61.0     0.23     0.98     0.009     0.27     Expansion  
  30-1090     15.0     294.0     279.0     0.49     3.35        0.51     Expansion  
   (Including)       66.0       72.0       6.0       3.34       14.42       0.019      3.49     Expansion  
   (Including)       164.0       172.7       8.7       2.24       9.78           2.29     Expansion  
  And     331.5     357.0     25.5     0.24     1.96        0.26     Expansion  
  And     417.0     525.0     108.0     0.84     7.79        0.89     Expansion  
   (Including)      433.4     445.3     11.9     3.00     30.46        3.20     Expansion  

 

 
Notes: Please see explanatory notes below on copper equivalent values and Quality Assurance / Quality Control.

 

  Table 2: Drill hole locations  

 

                                                               

  DDH No.     Azimuth (°)     Dip (°)     Length (m)     UTM E     UTM N     Elevation  
  30-1077     0     -90     879     316400     5425987.8     637.7  
  30-1078     0     -90     837     316300     5425903     608.4  
  30-1079     0     -90     780     316298     5425814     584.3  
  30-1080     0     -90     976     315500     5426425     580.0  
  30-1081     0     -90     490     316505     5425800     584.9  
  30-1084     0     -90     816     316397     5425889     606.9  
  30-1086     0     -90     978     315500     5426320     580.0  
  30-1090     0     -90     675     316477     5425532     565.7  

 

 
Drill hole 30-1090 intersected new mineralization located 105 metres south of the 2024 MRE model, returning 279.0 metres averaging 0.49% Cu and 3.35 g/t Ag   (including   8.7 metres averaging   2.24% Cu and 9.8 g/t Ag) ; a second intercept in this same hole (below the base of the 2024 MRE model) returned 108 metres averaging   0.84% Cu and 7.79 g/t Ag , extending mineralization to a vertical depth of 525 metres.

 

Drill hole 30-1078 (located in the south-central deposit) intersected 256.5 metres averaging 0.25% Cu and 1.79 g/t Ag , followed by a second intercept of 381.0 metres averaging 0.22% Cu and 1.69 g/t Ag , extending mineralization 280 metres below the base of the 2024 MRE model to a vertical depth of 688 metres.

 

Drill hole 30-1079 (located in the south-central deposit) intersected 319.5 metres averaging 0.28% Cu and 2.14 g/t Ag , followed by a second intercept of 180.0 metres averaging 0.37% Cu and 2.54 g/t Ag , extending mineralization 307 metres below the base of the 2024 MRE model to a vertical depth of 636 metres.

 

Drill hole 30-1081 (located in the south-central deposit) intersected 301.8 metres averaging 0.41% Cu and 3.36 g/t Ag (   including 7.7 metres averaging 1.99% Cu and 14.6 g/t Ag    at the level of the C Zone skarn ), followed by a second intercept of 44.5 metres averaging   0.23% Cu and 1.32 g/t Ag, extending mineralization 146 metres below the base of the 2024 MRE model to a vertical depth of 490 metres.

 

Drill hole 30-1084, also located in the south-central portion of the deposit, intersected 471.4 metres averaging 0.25% Cu and 1.95 g/t Ag, followed by a second intercept at depth of 55.4 metres averaging   0.33% Cu and 2.64 g/t Ag, and a third deeper intercept of 89.7 metres averaging   0.29% Cu and 1.93 g/t Ag, extending mineralization 306 metres below the base of the 2024 MRE model to a vertical depth of 706 metres.

 

Drill hole 30-1080 (located at the northwest end of the deposit) intersected 520.5 metres averaging 0.23% Cu and 1.02 g/t Ag , followed by a second intercept of 195.0 metres averaging   0.26% Cu and 1.28 g/t Ag , extending mineralization 418 metres below the base of the 2024 MRE model to a vertical depth of 969 metres.

 

Mineralization occurs as disseminations and veinlets of chalcopyrite and is mostly stratigraphically controlled in the area of Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.4% Mo) were locally obtained in both the C Zone and E Zone skarns. At least five vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier skarn/porcellanite-hosted mineralization throughout the Gaspé Copper system.

 

The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization ( see    May 6, 2024 MRE press release   ). Extending the resource model south of Copper Mountain into the poorly-drilled primary skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category ( see    November 14, 2024 MRE press release   ).

 

The current drill program is designed to convert of the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively.

 

All holes were drilled sub-vertically into the altered calcareous stratigraphy, which dips 20 to 25 degrees to the north. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites (pale green to white potassic-altered hornfels) that host the bulk of the disseminated copper mineralization.

 

The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.

 

   Explanatory note regarding copper-equivalent grades   

 

  Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.00/lb copper, $20.00/lb molybdenum and US$24/oz silver; 3) estimated recoveries of 92%, 70% and 70% for Cu, Mo and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7% and 75.0% for Cu, Mo and Ag respectively.  

 

   Qualified Person   

 

  The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent consultant, is at ‘qualified person’ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).  

 

   Quality Assurance / Quality Control   

 

  Mineralized intervals reported herein are calculated using an average 0.12% copper lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 20 metres or less are reported unless indicating significantly higher grades . True widths are estimated at 90 – 92% of the reported core length intervals.

 

  Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the   ALS   Canada   Ltd.   facility   in   North   Vancouver,   BC.   All   samples   are   analyzed   by   four   acid   digestion followed by both ICP-AES and ICP-MS for copper, molybdenum and silver.  

 

   About Osisko Metals   

 

  Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec   ‘   s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current    Indicated Mineral Resources of     824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq    (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper’. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.  

 

  In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada   ‘   s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of    Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq    (in compliance with NI 43-101). For more information, see Osisko Metals   ‘   June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’. The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.  

 

  For further information on this news release, visit    www.osiskometals.com ,   or contact:  

 

Don Njegovan, President
Email: info@osiskometals.com  
Phone: (416) 500-4129

 

   Cautionary Statement on Forward-Looking Information   

 

  This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘interpreted’, ‘management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.  

 

  Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.  

 

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

 

Photos accompanying this announcement are available at:

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/9056bd4b-e68d-4dd1-a787-1f3b346d2cde  

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/3e9ed8b2-4c21-47aa-9923-f5e30da77ff4  

 

   

 

 

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

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

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