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Cleantech Market Update: Q3 2025 in Review

Investing 7 Mins Read

The cleantech sector experienced a dynamic third quarter, with predictions of volatility coming to fruition.

While global investment in renewable energy is strong, notable pullbacks in US spending and regulatory challenges under the Trump administration have clouded the near-term cleantech outlook. Electric vehicle (EV) sales showed mixed trends, with a rush observed ahead of the phase-out of American federal tax incentives at the end of September.

The quarter was also marked by several major mergers, funding rounds and technological developments.

Regulatory currents and investment flows shape cleantech market

The third quarter began with important cleantech policy signals and shifts in industry strategy.

Although global capital flows into renewables reached a record US$386 billion in H1 2025, according to data analyzed by BloombergNEF, a steep 36 percent year-on-year drop in US renewable project spending reflects investor uncertainty in response to changing policy conditions and the expiration of tax incentives.

Regulatory headwinds took center stage as the US Environmental Protection Agency under Lee Zeldin sought to overturn the agency’s scientific findings on greenhouse gases, stirring debate on climate regulatory directions.

Meanwhile, the Trump administration’s Department of the Interior moved to halt the planned US$6 billion Maryland offshore wind project, and paused work on Orsted’s (CPH: ORSTED,OTC Pink:DNNGY) Rhode Island offshore wind farm, triggering market pushback and state-level efforts to resume construction.

A judge later allowed the continuation of construction on the Rhode Island wind farm amid legal challenges.

While offshore wind faced setbacks from regulatory halts and legal challenges, the US solar sector demonstrated resilience, experiencing a notable 25 percent increase in corporate M&A activity in H1.

That increase was highlighted by Brookfield Renewable Partners’ (NYSE:BEP) US$2.8 billion acquisition of Duke Energy’s (NYSE:DUK) solar assets, as well as FlexGen’s purchase of Powin.

During Climate Week NYC, power giant Constellation Energy (NASDAQ:CEG) CEO Joseph Dominguez noted the potential for consolidation in the renewables sector. Despite federal tax credit phase-outs, wind and solar are supported by over 30 state-level programs, creating evolving investment opportunities for well-capitalized companies.

Adding to this insight, former US Vice President Al Gore emphasized the need to reconsider nuclear power as artificial intelligence (AI) electricity demand grows. While skeptical about the high costs of small modular reactors, Gore sees fusion power as promising, but probably farther off than some optimists predict.

He acknowledged that green hydrogen sentiment is overly optimistic, noting that its “bubble has burst” due to slow cost declines, although it retains promise for heavy industry uses like low-emissions steel production.

Aside from that, Gore referred to direct air capture as “overhyped” and not a “safe bet,” while calling deep geothermal “properly hyped,” but with uncertain commercial timelines.

At the same time, US Secretary of Energy Chris Wright indicated that an overhaul of permitting processes would expedite energy infrastructure projects facing intense opposition; however, the government shutdown, now heading into its third week, has created significant uncertainty and will likely lead to further delays.

Despite perceived setbacks, Q3 brought private sector investment in scalable clean infrastructure. Investors increasingly backed cleantech initiatives focused on transformative growth and digital infrastructure aligned with the evolving energy transition. Notable financing rounds went toward low-carbon data centers and battery storage. Investments like climate fintech firm Eventual’s US$7.5 million in seed funding also hint at growing investor interest.

These cleantech sector developments highlight a complex landscape where regulatory challenges in the US coexist with ongoing innovation and investment momentum, setting the stage for a critical period of adjustment and opportunity in the renewable energy sector, both above and below the American border.

In an interview with the Globe and Mail, Jigar Shah, former director of the Loans Program Office in the US Department of Energy, said Canadian cleantech firms have an opportunity to fill the void left in the industry by the US, but that decisive action is required to prevent companies from seeking out other jurisdictions.

Twists and turns in the EV race

The third quarter marked a pivotal period for the EV market.

Cox Automotive forecast in September that EV sales would hit a record of 409,000 units in Q3, in line with previous estimates that predicted a surge as buyers rushed in before the end of the US federal EV tax credit.

Automakers Ford Motor (NASDAQ:F), General Motors (NYSE:GM) and Hyundai Motor (KRX:005380,OTC Pink:HYMTF), all of which have extended EV discounts to after the expiration of the tax credit, reported record EV sales in Q3, with Ford’s EV sales rising over 30 percent, and GM’s EV sales more than doubling thanks to a diverse product lineup under the Chevrolet and Cadillac brands. Hyundai showed a 13 percent year-on-year increase, driven by EV sales.

In September, Ford announced a multibillion-dollar investment in American EV manufacturing facilities to pioneer a novel, efficient assembly process, aiming for a 2027 launch of a competitively priced midsize electric pickup.

Tesla’s (NASDAQ:TSLA) third quarter deliveries also hit a record, with estimates showing about 149,500 units, slightly higher compared to the 143,535 units reported in the second quarter. However, Cox Automotive’s numbers show that the company’s US market share has been steadily decreasing, slipping to 38 percent in August.

CEO Elon Musk said that the company will devote more of its resources to developing AI-driven autonomy going forward. Its robotaxi program officially launched this quarter, with initial testing beginning on July 1. The company reportedly experienced three crashes on its first day, underscoring ongoing technical hurdles. The National Highway Traffic Safety Administration has since launched another investigation into Tesla vehicles’ full self-driving technology, its second this year, after regulators received more than 50 reports of traffic violations and crashes.

Tesla also revealed its long-awaited more affordable EV models at the start of the fourth quarter. They were met with with cautious optimism by market participants. Investors will be carefully watching how these new models fare against intense price competition from domestic and foreign EV manufacturers.

Meanwhile, Tesla’s position in China continues to face pressure, with domestic manufacturer BYD Company (OTC Pink:BYDDF) surging ahead with a substantial lead. BYD delivered 582,500 pure EVs in the third quarter, nearly doubling Tesla’s China sales, which rebounded thanks to sales of the new Model Y L.

Advances in autonomous vehicle partnerships also progressed during the the third quarter, with Lyft (NASDAQ:LYFT) and Waymo collaborating on robotaxi services announced for launch next year in Nashville.

Waymo has moved to expand its user base by launching a new enterprise product, Waymo for Business, offering subsidized employee or event rides in its robotaxis in San Francisco, Los Angeles and Phoenix.

Facing rising competition, Uber Technologies (NYSE:UBER) said it plans to integrate autonomous vehicles alongside human drivers, partnering with Nuro and Lucid Group (NASDAQ:LCID) in a three part deal, with Uber purchasing 20,000 Lucid electric robotaxis over six years alongside licensing fees for Nuro’s self-driving technology.

Under the terms of the agreement, Uber will acquire minority stakes in both companies. The first robotaxis are expected to launch in a major US city next year.

Cleantech forecast for 2025

Q4 will be pivotal as the cleantech sector adjusts to the withdrawal of key federal incentives in the US, such as the rooftop solar tax credit, set to expire on December 31, and grapples with regulatory uncertainties.

Offshore wind projects face legal and administrative hurdles that may reshape regional renewable energy development.

Meanwhile, emerging areas of the cleantech market — such as advanced nuclear and climate fintech — offer promising growth paths, but require coordinated policy and investment frameworks. Reflecting this challenge, 11 states are collaborating to accelerate the development of advanced nuclear energy within their borders, seeking to create a strong and credible demand signal by coordinating commitments and dividing financial risks.

In autonomous vehicle innovation, Amazon’s (NASDAQ:AMZN) self-driving car subsidiary Zoox is seeking broader regulatory approval to operate up to 2,500 cars without traditional human controls.

If approved, Zoox would be able to conduct a first-of-its-kind paid commercial robotaxi service.

The US Department of Transportation plans to propose rules in spring 2026 to modernize vehicle safety standards for automated driving systems, including relaxing requirements tied to manual controls.

Forward-looking industry voices suggest cautious optimism, emphasizing the critical role of innovation, policy clarity and market adaptation in sustaining cleantech momentum into 2026.

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

This post appeared first on investingnews.com

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Editor's pick

Customers sue sneaker company On over shoes that cause ‘noisy and embarrassing squeak’

Editor's pick 3 Mins Read

Customers of the athletic shoe company On have filed a class action lawsuit alleging that some of the brand’s sneakers squeak embarrassingly loudly when they walk.

The class action suit, filed in the U.S. district court in Portland — where On’s U.S. headquarters is located — on October 9, targets On’s shoes made with ‘CloudTec’ technology. A hallmark of many of the brand’s styles, ‘CloudTec’ is composed of differently shaped holes that cover the external and bottom surfaces of the shoes, according to the lawsuit.

At least 11 of On’s sneaker styles are referenced in the lawsuit, including the Cloud 5 and Cloud 6, CloudMonster, and Cloudrunner, among others.

Lawyers for the plaintiffs did not immediately respond to a request for comment. A representative for On said the company does not comment on ongoing legal matters.

According to the lawsuit, ‘CloudTec’ was created to ‘provide cushioned support when wearers land.’ But according to plaintiffs, the technology ‘rubs together’ when wearers walk or run, ‘causing a noisy and embarrassing squeak with each and every step.’

The lawsuit, however, admits that while the squeaky shoes are ‘seemingly inconsequential,’ the company has allegedly refused to provide refunds to those who are unhappy with their sneakers, leaving customers with ‘no relief after buying almost $200 shoes they can no longer wear without their doing significant DIY modifications to the shoe.’

‘No reasonable consumer would purchase Defendant’s shoes — or pay as much for them as they did — knowing each step creates an audible and noticeable squeak,’ the lawsuit states.

Nurses and those who are on their feet all day ‘bear the brunt of this defect,’ the suit argues, which allegedly causes ‘issues for consumers in their daily lives.’

According to the lawsuit, complaints about the squeaking have been widespread and documented on TikTok and Reddit, where customers share ‘DIY’ remedies for the noisy shoes, including rubbing coconut oil on the soles or sprinkling baby powder inside the sneaker.

The lawsuit alleges the company is aware of its squeaky sneakers, but its warranty does not cover reports of noisy soles as On characterizes them as ‘normal wear and tear,’ and has stated in online comments that ‘squeaking isn’t currently classified as a production defect.’

The lawsuit also alleges that the company can better make its products to avoid squeakiness, but that On has ‘done nothing’ to remedy the issue.

Plaintiffs allege they have suffered an ‘ascertainable loss’ due to fraudulent business practices and a ‘deceptive marketing scheme,’ and are seeking ‘compensatory, statutory, and punitive damages’ as well as refunds on their squeaky sneakers.

This post appeared first on NBC NEWS

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Investing

Gold Fields Completes AU$3.7 Billion Acquisition of Gold Road

Investing 2 Mins Read

Gold Fields (NYSE:GFI) has completed its AU$3.7 billion purchase of Gold Road Resources.

Gold Road rejected Gold Fields’ first acquisition proposal in March, saying it undervalued the company.

Following negotiations between the two parties, Gold Fields, through its wholly owned entity Gruyere Holdings, entered into a scheme implementation deed with Gold Road on May 5. Under the AU$3.7 billion deal, the companies agreed that Gold Road shareholders would receive fixed cash consideration of AU$2.52 per share.

‘The Scheme provides Gold Road shareholders with an opportunity to realise certain value for their Gold Road shares at a compelling premium,” said Gold Road Managing Director and CEO Duncan Gibbs at the time.

“This offer price represents a material premium to the undisturbed share price prior to the initial Gold Fields’ proposal and a material premium to longer term trading levels,’ he added.

Under the deal, Gold Fields will gain a 100 percent interest in the Gruyere project in Western Australia.

Gruyere, which the companies previously worked on together as a joint venture, currently holds an open-pit mineral resource of 6.04 million ounces, and ore reserves of 3.67 million ounces.

Its average annual gold production stands at at 350,000 ounces.

According to Gold Fields, all Gold Road shares are now owned by Gruyere Holdings. Following the scheme’s implementation, Gold Road is expected to apply to delist from the Australian Securities Exchange.

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

This post appeared first on investingnews.com

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China, US Rare Earths Tensions Ramp Up Ahead of Trump-Xi Meeting

Investing 4 Mins Read

China has accused the US of “seriously distorting and exaggerating” Beijing’s newly expanded rare earths export controls, but signaled a willingness to hold talks before an expected meeting between US President Donald Trump and Chinese President Xi Jinping later this month.

“The US interpretation seriously distorts and exaggerates China’s measures, deliberately creating unnecessary misunderstanding and panic,” Ministry of Commerce spokesperson He Yongqian said Thursday (October 16).

According to the Global Times, he emphasized that Beijing’s restrictions are intended to protect national security and prevent the misuse of rare earths in military applications, not to destabilize global markets.

The remarks follow a sharp escalation in rhetoric between the two countries after China expanded its export controls last week to include five additional rare earth elements: holmium, erbium, thulium, europium and ytterbium.

The new rules will take effect in stages starting November 8, coinciding with the expiry of a six month trade truce between Washington and Beijing. Foreign companies that use Chinese materials or equipment to produce rare earths products will require Chinese export licenses, even if no Chinese firm is directly involved in the transaction.

Beijing has also vowed stricter scrutiny of applications tied to advanced semiconductors and defense systems, such as 14 nanometer chips and artificial intelligence used in weapons platforms.

Washington pushes back against Beijing

Top US officials have accused Beijing of attempting to weaponize its dominance in the global rare earths supply chain, which accounts for about 70 percent of global production and more than 90 percent of processing capacity.

At a press briefing on Wednesday (October 15), US Trade Representative Jamieson Greer called China’s new measures a “global supply chain power grab” and warned that Washington and its allies “would not accept the restrictions.”

However, he also said China has not yet implemented the full regulatory system and suggested there is still room to de-escalate. “These are drafted, or in draft, so it’s quite real,” Greer said.

“But our expectation is that they won’t implement this, and that we’ll be able to be back to where we were a week ago, where we had the tariff levels we’ve agreed to and the flow of rare earths that we agreed to.”

Secretary of the Treasury Scott Bessent echoed the sentiment, telling CNBC that the Trump administration does not want to further inflame tensions, but will act decisively if Beijing moves forward with its restrictions.

“When we get an announcement like this week with China on the rare earths, you realize we have to be self-sufficient, or we have to be sufficient with our allies,” Bessent said.

He also accused China of using its dominance in rare earths refining and processing to slash prices and drive foreign competitors out of the market. Trump has threatened to impose 100 percent tariffs on Chinese goods starting on November 1 — or sooner — if Beijing moves ahead with the export controls.

Despite the mounting friction, both sides remain committed to a scheduled meeting between Trump and Xi in South Korea later this month, highlighting the indispensable nature of rare earths to modern industry.

They are used in electric vehicles, wind turbines, smartphones and, crucially, in US military systems such as F-35 fighter jets, Tomahawk missiles and Predator drones. Each F-35 is estimated to require more than 400 kilograms of rare earths for its stealth coatings, motors and radar systems.

US eyes new critical minerals sources

In response to China’s dominance, Washington has ramped up efforts to secure alternative sources of critical minerals.

The Department of Defense earlier this year struck a deal with MP Materials (NYSE:MP), the largest US rare earths producer. It includes an equity stake, a price floor and an offtake deal to guarantee supply for defense applications.

Separately, the Trump administration is reportedly exploring a potential investment in Critical Metals (NASDAQ:CRML), a US-listed firm developing Greenland’s vast Tanbreez rare earths deposit.

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

This post appeared first on investingnews.com

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Crypto Market Update: Bitcoin, Altcoins Continue Week-long Decline

Investing 4 Mins Read

Here’s a quick recap of the crypto landscape for Friday (October 17) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$106,495, a 1.7 percent decrease in 24 hours. Its lowest valuation of the day was US$104,747, and its highest was US$107,411.

Bitcoin price performance, October 17, 2025.

Chart via TradingView.

The Bitcoin price remains under pressure. While sizable short liquidations of both Bitcoin and Ether have provided pockets of buying relief, overall market confidence is tempered. Volatility persists, leaving the market poised for further directional cues from key upcoming earnings and economic data releases.

Ether (ETH) was priced at US$3,830.31, a 1.2 percent decrease in 24 hours. Its lowest valuation of the day was US$3,726.31, and its highest was US$3,845.65.

Altcoin price update

  • Solana (SOL) was priced at US$181.98, a decrease of 2.1 percent over the last 24 hours. Its lowest valuation of the day was US$177.43, and its highest was US$184.74.
  • XRP was trading for US$2.30, a decrease of 1.4 percent over the last 24 hours. Its lowest valuation of the day was US$2.25 and its highest was US$2.31.

Crypto derivatives and market indicators

Bitcoin derivatives metrics indicate a complex market environment with mixed signals.

While short-term buying pressure has occurred, underlying market sentiment remains bearish or neutral, with cautious trading behavior and no strong bullish conviction at this time.

Bitcoin liquidations have totaled approximately US$22.09 million in the last four hours, with short positions making up the majority, signaling a short squeeze or bullish pressure. Ether liquidations show a similar pattern, totaling US$20.86 million, the majority of which were short positions.

Futures open interest for Bitcoin has decreased by 1.56 percent to around US$70 billion, showing strong bearish sentiment. Ether futures open interest was unchanged at around US$44 billion, reflecting market neutrality.

The perpetual funding rate for Bitcoin was -0.009, and for Ether it was -0.015, indicating bearish market sentiment.

Bitcoin’s relative strength index stands at 34.05, indicating that the cryptocurrency is in a bearish/bullish/neutral momentum, phase but not yet deeply oversold.

Fear and Greed Index snapshot

CMC’s Crypto Fear & Greed Index has fallen far into fear territory, dipping to 28 on Friday from an earlier score of 32.

CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.

Chart via CoinMarketCap.

Today’s crypto news to know

Japanese banks launch yen-backed stablecoin

A group of Japan’s largest banks, including MUFG Bank, Sumitomo Mitsui Banking and Mizuho Bank, are reportedly collaborating to launch a yen-backed stablecoin using MUFG’s Progmat platform.

The initiative aims to create an interoperable payment token for over 300,000 corporate clients. MUFG will be the first user for internal settlements. The stablecoin is expected to roll out by year end, potentially establishing Japan’s first unified bank-backed stablecoin network and accelerating crypto adoption in the region’s financial infrastructure.

Uniswap expands to Solana blockchain

Uniswap has expanded its web app to support the Solana blockchain, enabling users to trade Solana-based tokens, the platform announced in a blog post on Wednesday (October 15). This move broadens Uniswap’s reach beyond Ether, lowering transaction costs and speed for DeFi traders using Solana’s high-performance network.

Ripple adds US$1 billion to XRP treasury

Ripple will reportedly add a US$1 billion purchase of its native XRP cryptocurrency to its digital asset treasury.

Sources for Bloomberg said the treasury funds, which will be raised through a special purpose acquisition company, will be used to support Ripple’s ecosystem development, liquidity provision and strategic partnerships, reinforcing Ripple’s commitment to growing XRP’s adoption in global payments.

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

This post appeared first on investingnews.com

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Vince Lanci: Silver’s London Liquidity Crisis — What’s Happening, What’s Next

Investing 1 Min Read

Vince Lanci of Echobay Partners explains what’s driving silver’s record-setting price run.

According to Lanci, who is also a professor at the University of Connecticut and publisher of the GoldFix newsletter on Substack, the London market is facing a liquidity crisis as nations that would typically sell or lend their silver choose to keep the metal at home.

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

This post appeared first on investingnews.com

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Cardiol Therapeutics Secures US$11 Million Financing and Extends Cash Runway into Q3 2027

Investing 8 Mins Read

  • MAVERIC Phase III pivotal trial of orphan drug candidate CardiolRx in recurrent pericarditis is fully funded through to a planned New Drug Application submission with the FDA.

  • New data from the ARCHER trial, highlighting the magnitude of reduction in left ventricular (LV) mass and the read through to heart failure, to be presented at a cardiology conference in November 2025.

  • Next-generation therapy CRD-38 for heart failure funded through to clinical development, with partnership discussions advancing with leading pharmaceutical companies.

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) (‘Cardiol’ or the ‘Company’), a clinical-stage life sciences company advancing late-stage, anti-inflammatory and anti-fibrotic therapies for heart disease, today announced the successful completion of a private placement offering (the ‘Offering’) of units (‘Units’) for net proceeds of US$11 million. The initial closing of US$10 million has been completed, with the remaining US$1 million to close on Monday, October 20, 2025.

‘As recruitment in our pivotal Phase III MAVERIC trial gains momentum, with several prominent centers across the U.S. now enrolling patients, we are pleased to have secured a direct investment of US$11 million to strengthen our balance sheet and accelerate the development of our novel heart failure drug, CRD-38, based on the recently reported findings from our ARCHER trial,’ said David Elsley, President and CEO of Cardiol Therapeutics. ‘Topline results from our ARCHER trial demonstrated a significant reduction in LV mass-marking the first evidence of structural and remodeling improvement in patients with myocarditis. This landmark finding represents our second clinical validation in inflammatory heart disease and establishes a key translational link to data published earlier this year in the Journal of the American College of Cardiology, which demonstrated the beneficial effects of the active pharmaceutical ingredient or API in CardiolRx on cardiac structure, inflammation, and fibrosis in a model of heart failure. The ARCHER findings support pursuing an additional Orphan Drug Designation for CardiolRx in myocarditis and advancing the development of our next-generation CRD-38 formulation, which delivers the same API via subcutaneous administration, to target the broader heart failure market. Notably, blockbuster drugs that reduce LV mass have been shown to lower heart failure-related death and hospitalization, underscoring the clinical potential of Cardiol’s differentiated anti-inflammatory mechanism to address a large unmet need in heart failure, where five-year mortality rates still exceed 50%.’

Under the Offering, the Company sold a total of 11 million Units at a price of US$1.00 per Unit. Each Unit consists of one Class A common share of the Company (a ‘Common Share‘) and one-half of one Common Share purchase warrant. Each whole warrant entitles the holder to acquire one additional Common Share at an exercise price of US$1.35 for a period of 24 months from the date of issuance. The warrants include an acceleration provision, allowing the Company to advance their expiry to the 30th day following the issuance of a news release if the daily volume-weighted average trading price of the Common Shares exceeds US$2.00 for five consecutive trading days. Proceeds from the Offering provide cash resources that are anticipated to support operations into the third quarter of 2027.

The securities have not been registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act‘), or any U.S. state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the ‘United States’ or ‘U.S. persons’ (as such terms are used in Regulation S under the U.S. Securities Act), absent registration under the U.S. Securities Act and all applicable U.S. state securities laws or in compliance with an exemption therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Certain insiders of the Company participated in the Offering. Such participation is considered to be a ‘related-party transaction’ within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘MI 61-101‘). The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related-party participation in the Offering as the fair market value (as determined under MI 61-101) of the subject matter of, and the fair market value of the consideration for, the transaction, insofar as it involved interested parties, did not exceed 25% of the Company’s market capitalization (as determined under MI 61-101).

About Cardiol Therapeutics

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) is a clinical-stage life sciences company advancing late-stage, anti-inflammatory and anti-fibrotic therapies for heart disease. The Company’s lead small molecule drug candidate, CardiolRx, modulates inflammasome pathway activation, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with pericarditis, myocarditis, and heart failure.

The MAVERIC Program in recurrent pericarditis, an inflammatory disease of the pericardium which is associated with symptoms including debilitating chest pain, shortness of breath, and fatigue, and results in physical limitations, reduced quality of life, emergency department visits, and hospitalizations, comprises the completed Phase II MAvERIC-Pilot study (NCT05494788) and the ongoing pivotal Phase III MAVERIC trial (NCT06708299). The U.S. FDA has granted Orphan Drug Designation to CardiolRx for the treatment of pericarditis, which includes recurrent pericarditis.

The ARCHER Program (NCT05180240) comprises the completed Phase II study in acute myocarditis, an important cause of acute and fulminant heart failure in young adults and a leading cause of sudden cardiac death in people less than 35 years of age.

Cardiol is also developing CRD-38, a novel subcutaneously administered drug formulation intended for use in heart failure-a leading cause of death and hospitalization in the developed world, with associated healthcare costs in the United States exceeding US$30 billion annually.

For more information about Cardiol Therapeutics, please visit cardiolrx.com.

Cautionary statement regarding forward-looking information:

This news release contains ‘forward-looking information’ within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events, or developments that Cardiol believes, expects, or anticipates will, may, could, or might occur in the future are ‘forward-looking information’. Forward-looking information contained herein may include, but is not limited to statements regarding the Company’s focus on developing anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease, the Company’s intended clinical studies and trial activities and timelines associated with such activities, including the Company’s plan to complete the Phase III study in recurrent pericarditis with CardiolRx, the Company’s plan to advance the development of CRD-38, a novel subcutaneous formulation intended for use in heart failure, the Company’s presentation and publication of the comprehensive ARCHER trial data, the Company’s belief that results from the ARCHER trial provide compelling clinical proof of concept for CardiolRx and strongly support advancing the clinical development of CardiolRx and CRD-38 for the treatment of inflammatory cardiac disorders including cardiomyopathies, heart failure, and myocarditis, and statements regarding the expected length and scope of funding for the Company’s development plans as a result of the Offering. Forward-looking information contained herein reflects the current expectations or beliefs of Cardiol based on information currently available to it and is based on certain assumptions and is also subject to a variety of known and unknown risks and uncertainties and other factors that could cause the actual events or results to differ materially from any future results, performance or achievements expressed or implied by the forward looking information, and are not (and should not be considered to be) guarantees of future performance. These risks and uncertainties and other factors include the risks and uncertainties referred to in the Company’s Annual Information Form filed with the Canadian securities administrators and U.S. Securities and Exchange Commission on March 31, 2025, available on SEDAR+ at sedarplus.ca and EDGAR at sec.gov, as well as the risks and uncertainties associated with product commercialization and clinical studies. These assumptions, risks, uncertainties, and other factors should be considered carefully, and investors should not place undue reliance on the forward-looking information, and such information may not be appropriate for other purposes. Any forward-looking information speaks only as of the date of this press release and, except as may be required by applicable securities laws, Cardiol disclaims any intent or obligation to update or revise such forward-looking information, whether as a result of new information, future events, or results, or otherwise. Investors are cautioned not to rely on these forward-looking statements.

For further information, please contact:
Trevor Burns, Investor Relations +1-289-910-0855
trevor.burns@cardiolrx.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270946

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

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Top 5 Canadian Mining Stocks This Week: JZR Gold Jumps 113 Percent

Investing 11 Mins Read

The Government of Ontario started taking applications for resource development projects under its “One Project, One Process” framework on Friday (October 17).

The new process, which Ontario lawmakers introduced in the spring, promises to streamline and reduce the permitting time for selected projects by at least half, introducing a dedicated office to consolidate applications. Under the current system, the permitting process can add up to 15 years to a project’s development cycle, the government stated.

In addition to supporting Ontario’s mining industry, the new framework is also a reaction to policy shifts in the United States under the Trump administration, as his tariff policy affects the Ontario and Canadian economies.

“With President Trump taking direct aim at our economy, it has never been more important to protect Ontario jobs and build the mines that will power our future,” said Stephen Lecce, Minister of Energy and Mines.

The new policy is similar to the national one introduced by Prime Minister Mark Carney in September. That program, which created the Major Projects Office, is geared to support investment and permitting for projects deemed to be in the national interest. The initiative was part of his election platform earlier in the year in response to Trump’s tariffs on imports of Canadian goods.

In a speech to the Peterson Institute of International Economics on Thursday (October 16), Bank of Canada Governor Tiff Macklem stated that Canada’s growth outlook remains “soft.”

He identified several trends that are affecting Canadian and global economies. The first is a slowing of global trade that began in 2010, which then accelerated as Trump increased tariff rates to the highest levels since the 1930s.

The second is a shift away from the US as the world’s largest trading hub, as supply chains strengthen in China and Europe, creating new hubs there. Macklem also noted that, while the US remains dominant in global finance, investors have expressed uncertainty due to its declining trade position and increasing debt load.

For Canada, Macklem said the tariffs have affected cross-border trade and stymied investment into Canadian industries, weakening gross domestic product growth.

Although it’s uncertain if the Bank of Canada will cut its rate when it makes its next policy decision on October 29, Macklem said, “Monetary policy cannot undo the damage of tariffs.” Instead, he suggested that Canada needs to lower barriers to interprovincial trade and focus on projects that increase the export of Canadian goods overseas.

South of the border, Federal Reserve Chairman Jerome Powell gave a speech on Tuesday (October 14) to the National Association of Business Economics in Philadelphia. In his remarks, he said the outlook for the jobs market and inflation has not changed since September, and signaled the likelihood of another rate cut when the Federal Open Market Committee meets on October 28 and 29.

In the days following Powell’s remarks, the price of gold surged to a new record high of US$4,379.13 on Thursday, and silver rose to a new record of US$54.40 per ounce. Both have since retreated, but remain elevated.

For more on what’s moving markets this week, check out our top market news round-up.

Markets and commodities react

Canadian equity markets were down this week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) lost 0.71 percent over the week to close Friday at 30,108.48.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) fared worse, ending the week down 3.85 percent at 965.58. The CSE Composite Index (CSE:CSECOMP) also fell this week, shedding 5.33 percent to close out the week at 179.76.

The gold price set another new record, reaching an intraday high of US$4,379.13 per ounce in early morning trading Friday EST before retreating to US$4,252.69 by Friday’s close. Ultimately, gold was up 5.82 percent over the week.

The silver price also gained significantly this week, again breaking its own all-time high in early trading Friday when it reached US$54.47 per ounce. However, it had pulled back US$51.76 by 4:00 p.m. EDT Friday, posting a weekly gain of 3.46 percent.

The copper price was flat on the week, down just 0.2 percent to US$5.03 per pound.

The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) fell 2.23 percent to end Friday at 539.84.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stocks data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. JZR Gold (TSXV:JZR)

Weekly gain: 112.77 percent
Market cap: C$28.95 million
Share price: C$0.50

JZR Gold is a gold company with exposure to the Vila Nova gold project, located in Amapá, Brazil, through a joint venture royalty agreement with the project’s operator, ECO Mining Oil & Gaz Drilling and Exploration.

JZR received a 50 percent net profit interest in the Vila Nova project following the completion of payments totaling US$6 million to ECO in January 2023. The funds were used to advance the project and construct an 800 metric ton per day bulk sampling gravimetric mill at the site.

According to JZR, the funding is considered a loan and will be “repaid to the Company from the proceeds of the sale of any products, prior to the distribution of any profits.”

The project holds approximately 9 million metric tons of gold tailings grading an average of 2.47 grams per metric ton (g/t) gold from historic operations. The companies plan to reprocess the tailings to generate near-term cash flow that will fund further exploration at the site, anticipating production of 2 kilograms of gold per day.

Shares gained this week alongside the October 14 news that ECO produced the first gold concentrate from the Vila Nova gold project’s mill. JZR said that ECO has begun to stockpile material at the mill site as it continues testing and optimization, with the goal of improving efficiency and increasing throughput.

2. Austral Gold (TSXV:AGLD)

Weekly gain: 90 percent
Market cap: C$75.37 million
Share price: C$0.095

Austral Gold is a gold production company operating two mines in Latin America.

Its Guanaco – Amancaya mine complex in Chile is its primary operation, hosting a 1,500 metric ton per day milling circuit, a 3,000 metric ton per day crushing circuit and a heap leaching processing plant. In 2024, the complex produced 15,138 ounces of gold and 37,154 ounces of silver.

Austral’s other operation is the Casposo – Manantiales complex in Argentina, which hosts a 1,100 metric ton per day mill and a dry-stack tailings facility. The mine had been on care and maintenance since 2019, during which time Austral worked on exploration at the site, along with its refurbishment plan to restart operations.

Shares in Austral rose this week following a pair of announcements on Tuesday.

The first was a report that Austral has resumed production at Casposo, currently sourcing material from the existing stockpiles. The company said it plans to transition to open-pit mining and is in negotiations with a contractor to finalize an agreement.

The company produced 230 gold equivalent ounces of doré during the commissioning phase, which began in December 2024, according to the release. It expects Casposo to produce 4,000 to 6,000 gold equivalent ounces during Q4.

In the other release, Austral provided an updated mineral reserve estimate for Casposo reporting proven and probable gold contained to be 80,000 ounces of gold and 3.28 million ounces of silver with average grades of 1.31 g/t gold and 58.52 g/t silver from 2.15 million metric tons of ore.

3. Resouro Strategic Metals (TSXV:RSM)

Weekly gain: 88.64 percent
Market cap: C$29.14 million
Share price: C$0.415

Resouro Strategic Metals is a polymetallic exploration and development company working to advance its mineral properties in Brazil.

Its Tiros rare earth metals and titanium project is located in Minas Gerais, Brazil, and comprises 28 mineral rights covering an area of 497 square kilometers.

According to a May 2025 technical report, the site hosts a measured and indicated resource of 1.4 billion metric tons of ore grading 12 percent titanium dioxide and 4,000 parts per million of total rare earth content.

The company also owns the Novo Mundo gold project located in the Alta Floresta gold province in Central Brazil. It consists of three licenses totaling 167 square kilometers.

On Tuesday, Resouro provided an update to its ongoing private placement, noting that it had received subscription agreements and expects to close in the next week.

4. Nio Strategic Metals (TSXV:NIO)

Weekly gain: 75 percent
Market cap: C$16.24 million
Share price: C$0.175

Nio Strategic Metals is an exploration company working to advance its assets in Québec, Canada.

Its primary focus has been on its Oka rare earth and critical minerals project. The property hosts a past-producing niobium mine and several nearby mineralized zones.

According to the project page, Oka’s total measured and indicated resource is 10.63 million metric tons of ore at an average grade of 0.65 percent niobium oxide.

While the company did not release any news this week, shares in Nio Strategic Metals rose significantly.

5. Boron One (TSXV:BONE)

Weekly gain: 71 percent
Market cap: C$14.92 million
Share price: C$0.06

Boron One is an exploration company focused on advancing its Piskanja project located near Belgrade, Serbia.

The asset hosts two primary densely mineralized zones with gently undulating borate beds. The company was initially granted its exploration license in 2010, with the exclusive right to apply for a mining license.

In a preliminary economic assessment for the project released in June 2022, Boron One, then named Erin Ventures, reported an economic case with an after-tax, net present value of US$524.9 million with an internal rate of return of 78.7 percent and a payback period of 12 months.

It also provided a mineral resource statement that demonstrated a measured and indicated resource of 2.36 million metric tons of boric oxide from 6.87 million metric tons of ore with an average grade of 34.36 percent boric oxide.

The most recent news from the project came on September 26 when the company provided an update on its application for a mining license, noting the Ministry of Mining has requested amendments to the company’s application before it can be approved.

Boron One said it is preparing the revised version “as quickly as possible.”

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of May 2025, there were 1,565 companies listed on the TSXV, 910 of which were mining companies. Comparatively, the TSX was home to 1,899 companies, with 181 of those being mining companies.

Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

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

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

This post appeared first on investingnews.com

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