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Navigating Uncertainty: How Trump’s Tariffs Are Affecting the Gold Market

Investing 5 Mins Read

The gold price has been on the rise in 2025 as a slew of factors work in its favor.

Central bank buying has long been a key point of support, as has escalating conflict in the Middle East and elsewhere. A newer addition is tariff tensions as the Trump administration fleshes out trade policies.

The gold price has benefited from safe-haven demand amid the turmoil, but concerns that the yellow metal itself might face tariffs have also impacted the sector as industry insiders react to uncertainty.

Read on to learn how tariffs have affected the gold market and price so far.

How have tariffs affected the gold price?

The gold price has been on the rise since the beginning of the year. After briefly touching the US$3,500 per ounce level in May, it has pulled back and was trading just under US$3,400 as of Tuesday (August 26).

Gold price, January 1 to August 26, 2025.

Chart via TradingEconomics.

Although some of its increase is attributable to the points mentioned above, a significant portion is owed to a lack of information surrounding US President Donald Trump’s tariff policies.

Initially there was no clarity on what or who was being tariffed, or when the levies would ultimately be implemented, and investors started to move into gold for greater stability and portfolio diversification.

Uncertainty about whether gold would be tariffed also had an effect, prompting traders in the US to import physical gold; this created a price differential between New York futures and the London spot price.

Concerns dissipated as the Trump administration began to nail down tariffs, but were reignited once again when US Customs and Border Patrol posted a ruling on July 31 indicating that the 39 percent tariffs against imports from Switzerland would include 1 kilogram and 100 ounce gold bars.

The news caused spot gold to spike more than 3 percent, from US$3,290 to US$3,398, and sent December futures to an all-time high of US$3,549. Meanwhile, traders halted imports of Swiss bars.

After several days of turmoil, Trump said the ruling was incorrect, and the bars would not be included in the tariff measures being applied to other Swiss imports; the gold price then retreated.

How would gold tariffs have impacted the market?

Gold functions as both a commodity and an essential part of the world’s financial system.

One kilogram and 100 ounce gold bars are used to back futures trading, and regular shipments of the metal are needed to settle contracts once they come due. A 39 percent tariff on gold from Switzerland would have been particularly disruptive, as Swiss refineries account for approximately 70 percent of the world’s gold.

According to the UN Comtrade database, in 2024, Switzerland exported more than 1,400 metric tons of unwrought gold worth more than US$106 billion, representing nearly 30 percent of the country’s total exports. Tariffs would have forced US buyers to pay a significant premium for the precious metal versus buyers in London or Shanghai.

Because gold is often used as a store of value in times of uncertainty, any kind of disruption could have had broader implications for investors looking to add stability to their portfolios.

“There are psychological nuances to gold, which is commonly viewed as a safe store of value during uncertain times and an inflation hedge. Overall, the tariff would have added another facet to the already elevated policy uncertainty.’

If the tariffs had remained in place, the US gold price would have had to rise to around US$4,700 per ounce to cover levies, while international prices would have remained closer to the US$3,500 mark.

“Tariffs have already complicated supply chains across industries, and this gold tariff would have been another example of added cost and complexity — but in this case, one with the potential to more directly impact investment activities,” Saidel-Baker went on to explain, emphasizing that US investors would have felt the pinch.

Could gold tariffs happen in the future?

Given Trump’s unpredictability, especially when it comes to tariffs, it’s possible that gold levies could enter the conversation again. However, by and large experts agree that the matter is closed.

Keith Weiner, founder and CEO of Monetary Metals, offered another perspective, saying that although the gold tariff threat is over, the tumult could have long-term effects on the market.

‘Once you’ve put the scare into everybody, you can’t just say, ‘Oh, sorry, just kidding.’ You can’t really do that. And so now we’ve done damage, and we’ll see what happens to that spread over time. We’ll see how users of the futures market adapt. There are other markets in the world that would be competing for,’ he explained.

Market participants will be watching closely for future impacts on the yellow metal.

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

This post appeared first on investingnews.com

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Investing

Group Eleven Drills 6.2m of 312 g/t Ag and 0.95% Cu, incl. 2.8m of 549 g/t Ag and 1.77% Cu in a 90m Step-Out, Further Supporting Deeper Cu-Ag Target at Ballywire

Investing 13 Mins Read

Group Eleven Resources Corp. (TSXV: ZNG,OTC:GRLVF) (OTCQB: GRLVF) (FSE: 3GE) (‘Group Eleven’ or the ‘Company’) is pleased to announce the latest three step-out drill holes from the discovery horizon at its Ballywire discovery (‘Ballywire’) at the 100%-owned PG West Project (‘PG West’), Republic of Ireland. Drilling at Ballywire’s deeper, Cu-Ag target (100-200m below discovery horizon) is in progress (to be reported as soon as possible).

Highlights:

  • 25-3552-37 (90m step-out NE of 25-3552-35, hosting widest intercept to date; announced 02-Jul-25) intersected intermittent mineralization over a 185m-long interval, including:

    • Cu-Ag Intercept (hosted in Ballysteen Limestone, beneath Waulsortian Limestone)

      • 6.2m of 312 g/t Ag and 0.95% Cu (starting from 303.9m downhole), including

      • 2.8m of 549 g/t Ag and 1.77% Cu, including

      • 0.3m (30cm) of 2,470 g/t Ag and 5.87% Cu

    • Zn-Pb-Ag Intercepts (hosted within Waulsortian Limestone)

      • 4.9m of 5.2% Zn+Pb (4.0% Zn and 1.2% Pb), 45 g/t Ag (starting from 125.9m), including

      • 0.1m (14cm) of 65.1% Zn+Pb (46.4% Zn and 18.7% Pb), 654 g/t Ag

  • 25-3552-36 (90m step-out SE of the above hole), intersected intermittent mineralization over a 38m-long interval, including:

    • 2.8m of 231 g/t Ag and 0.85% Cu, including

    • 0.2m (16cm) of 3,820 g/t Ag and 12.60% Cu (among highest Ag/Cu assays in Ireland)

  • 25-3552-34 (35m step-out NNW of the above hole), intersected intermittent mineralization over 16m-long interval, including 1.9m of 59 g/t Ag and 0.75% Cu

  • These results extend the strike length of Ballywire’s main discovery corridor by 135m from 1,300m to 1,435m, while further emphasising Cu-Ag potential at depth

  • This corridor is hosted within a larger 2.6km long trend of robust mineralization pierced by drilling to date at Ballywire, along a prospective trend of over 6km (defined by four regional gravity-high anomalies, only one of which has been systematically drill tested to date)

  • The Company’s ‘deeper Cu-Ag’ target (100-200m below the Zn-Pb-Ag horizon) is currently being drill tested with two holes completed and a third hole in progress

  • Three rigs are turning at Ballywire with approx. 5,700m of drilling completed year-to-date; Group Eleven aims to complete a further approx. 25,000m of drilling by end of 2026 (fully funded)

‘Today’s results expand our main discovery corridor by 135m and add to growing evidence suggesting a deeper Cu-Ag horizon one to two hundred metres below Ballywire’s current discovery horizon,’ stated Bart Jaworski, CEO. ‘This deeper target is currently being drilled, with two holes finished and a third started. We look forward to releasing these results as soon as assays are available. With three rigs turning each on excellent targets at Ballywire, a fourth rig likely to be added soon and a recently announced strengthened cash position now totalling C$8.4 million, Group Eleven is poised to keep generating shareholder value through the drill bit for the foreseeable future.’

Exhibit 1. Plan Map of Main Ballywire Discovery Corridor, Showing Holes 25-3552-34, -36 and -37

Note: For brevity, drill holes are labelled by the last two digits of their identification number (e.g. ‘-40’ means 25-3552-40)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/264236_1b221f02341a2967_002full.jpg

Exhibit 2. Long-Section: Ballywire Cu-Ag Intercepts to Date vs. Deeper Cu-Ag Target

Note: In order to highlight Cu-Ag mineralization, the Zn-Pb-Ag bearing zones are not shown on the section; * ‘LLS’ means Lower Limestone Shale which is known to host Cu-Ag mineralization in the vicinity (5-45km) of Ballywire; ‘Deeper Cu-Ag Target’ is hosted predominantly by the LLS, but also by other lithologies between the Waulsortian Limestone and the LLS; LLS is believed to be approx. 100-200m below the Waulsortian Limestone

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/264236_1b221f02341a2967_003full.jpg

Ballywire Drill Update

The Ballywire prospect at the Company’s 100%-owned PG West Project in Republic of Ireland, represents the most significant mineral discovery in Ireland in over a decade. First announced in Sept-2022, the discovery has 56 holes drilled and reported by Group Eleven to date, including the most recent three holes (25-3552-34, -36 and -37) reported today (see Exhibits 1 to 4).

Today’s results add further evidence that the mineralized trend at Ballywire continues further east towards G11-3552-08. One of the Company’s three rigs is now drilling a fence of holes collared 200m east of this hole (see Exhibit 1), testing for the further continuation of the mineralized trend. A second rig is drilling a fence of holes testing for the deeper Cu-Ag target (within the Lower Limestone Shale) with two holes completed and the third recently started (see ‘-40’ in Exhibit 1, and ’25-3552-40′ in Exhibit 2). A third rig is drilling along the section of holes containing G11-468-01 and 00-468-5 (see Exhibit 1) to test for a SW continuation of high-grade mineralization. The Company plans to soon add a fourth rig at Ballywire, geared towards reconnaissance drilling further outboard of the current mineralized corridor. Meanwhile, two holes located 1.3km to the ENE (near gravity anomaly ‘D’; see Exhibit 3) were recently completed (assays pending), with follow up drilling planned upon receipt of a second drill permit (recently submitted) which would allow for more flexibility on drill locations further to the NE.

Exhibit 3. Regional Gravity Map Showing 6km Long Prospective Trend at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/264236_1b221f02341a2967_004full.jpg

Note: Of the four gravity-high anomalies above, only the ‘C’ anomaly has been systematically drilled to date

Assays from today’s drill holes are summarized above (see Exhibit 4). Mineralization consists predominantly of sphalerite, galena and pyrite, with the Cu-Ag bearing zones also containing chalcopyrite and suspected tennantite-tetrahedrite. Substantial Cu-Ag mineralization in 25-3552-37 is located within the Ballysteen Limestone, in contrast to 25-3552-35, where a strong Cu-Ag interval occurs at the base of the Waulsortian Limestone. Varying lithologies hosting Cu-Ag mineralization suggest a dynamic and potentially robust mineralizing system with respect to copper and silver.

Exhibit 4. Summary of Assays from 25-3552-37, -36 and -34 at Ballywire

Item From
(m) 		To
(m) 		Int
(m) 		Zn
(%) 		Pb
(%) 		Zn+Pb
(%) 		Ag
(g/t) 		Cu
(%)
25-3552-37 124.88 310.10 185.22 0.43 0.18 0.61 15.7 0.05
Incl. 124.88 132.60 7.72 2.75 0.81 3.55 30.4 0.01
Incl. 124.88 125.99 1.11 6.20 2.39 8.59 90.4 0.02
And 125.85 132.60 6.75 3.08 0.92 4.00 33.5 0.01
Incl. 125.85 130.72 4.87 3.97 1.19 5.16 44.6 0.01
Incl. 125.85 125.99 0.14 46.40 18.70 65.10 654.0 0.08
And 127.85 132.60 4.75 3.00 0.74 3.74 28.1 0.01
Incl. 127.85 130.72 2.87 4.45 1.10 5.54 43.5 0.01
Incl. 127.85 128.78 0.93 6.37 1.42 7.79 64.6 0.01
And 129.78 130.72 0.94 7.21 1.91 9.12 68.4 0.02
And 151.70 164.80 13.10 1.32 0.17 1.48 6.1 0.00
Incl. 161.00 163.85 2.85 2.70 0.61 3.31 15.7 0.01
And 173.17 177.74 4.57 0.53 0.25 0.78 2.3 –
And 182.25 183.16 0.91 0.94 0.09 1.02 0.7 –
And 190.50 193.10 2.60 0.72 0.05 0.77 0.4 –
And 198.40 200.32 1.92 0.92 0.31 1.23 2.2 –
And 203.10 206.80 3.70 0.61 0.16 0.77 2.7 –
And 210.40 234.97 24.57 0.76 0.19 0.95 4.4 –
Incl. 219.90 234.97 15.07 0.91 0.25 1.16 5.3 –
Incl. 219.90 220.90 1.00 3.22 0.49 3.71 16.7 0.02
And 243.20 258.90 15.70 0.21 0.30 0.51 16.9 0.06
Incl. 250.15 251.80 1.65 0.36 0.39 0.75 104.8 0.45
And 264.35 266.10 1.75 0.08 0.08 0.17 17.5 0.01
And 295.30 300.75 5.45 0.07 0.37 0.44 17.1 0.20
And 303.90 310.10 6.20 0.07 1.29 1.36 311.7 0.95
Incl. 303.90 306.70 2.80 0.13 0.09 0.22 549.0 1.77
Incl. 305.40 306.70 1.30 0.24 0.06 0.30 1,104.6 3.25
Incl. 306.40 306.70 0.30 0.39 0.10 0.49 2,470.0 5.87
25-3552-36 239.96 278.35 38.39 0.34 0.26 0.60 2.0 –
Incl. 244.88 251.68 6.80 1.01 0.29 1.30 3.5 –
Incl. 248.76 250.72 1.96 1.86 0.50 2.37 5.1 –
And 261.31 268.84 7.53 0.53 0.94 1.47 4.8 0.02
Incl. 262.20 264.96 2.76 1.06 1.79 2.85 9.1 0.04
And 305.02 307.81 2.79 0.40 0.06 0.46 231.0 0.85
Incl. 305.74 305.90 0.16 1.58 0.25 1.82 3,820.0 12.60
Incl. 305.90 306.82 0.92 0.50 0.06 0.56 30.0 0.28
25-3552-34 205.50 205.60 0.10 8.07 0.28 8.35 38.9 0.06
And 232.22 248.29 16.07 0.15 0.12 0.27 8.0 0.09
Incl. 241.47 247.82 6.35 0.12 0.24 0.36 18.1 0.23
Incl. 244.53 246.43 1.90 0.25 0.64 0.89 59.2 0.75
Incl. 245.44 246.43 0.99 0.23 0.36 0.59 87.1 1.00

 

Note: True thickness of the mineralized interval in holes 25-3552-37, -36 and -34, as a percentage of the down-hole interval, is estimated to be 70-80%, 90-100% and 90-100% respectively; ‘-‘ means equal to or less than 0.01% (

Drilling at Ballywire continues with three rigs. Currently, twelve (12) new holes are completed or near completed (and in the process of being logged, sampled and assayed). Nine (9) of these are shown in Exhibit 1, with two other holes near gravity-high anomaly ‘D’ (located 1.3km to the ENE) and one hole collared approx. 200m NNW of G11-468-01 (see Exhibit 1).

Exhibit 5. Regional Map of Ballywire Discovery and Surrounding Prospects

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/264236_1b221f02341a2967_005full.jpg

Notes to Exhibit 5: (a) Pallas Green MRE is owned by Glencore (see Glencore’s Resources and Reserves Report dated December 31, 2024); (b) Stonepark MRE: see the ‘NI 43-101 Independent Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland’, by Gordon, Kelly and van Lente, with an effective date of April 26, 2018, as found on SEDAR; and (c) the historic estimate at Denison was reported by Westland Exploration Limited in ‘Report on Prospecting Licence 464’ by Dermot Hughes dated May, 1988; the historic estimate at Gortdrum was reported in ‘The Geology and Genesis of the Gortdrum Cu-Ag-Hg Orebody’ by G.M. Steed dated 1986; and the historic estimate at Tullacondra was first reported by Munster Base Metals Ltd in ‘Report on Mallow Property’ by David Wilbur, dated December 1973; and later summarized in ‘Cu-Ag Mineralization at Tullacondra, Mallow, Co. Cork’ by Wilbur and Carter in 1986; the above three historic estimates have not been verified as current mineral resources; none of the key assumptions, parameters and methods used to prepare the historic estimates were reported and no resource categories were used; significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimates can be verified and upgraded to be compliant with current NI 43-101 standards; a Qualified Person has not done sufficient work to classify them as a current mineral resource and the Company is not treating the historic estimates as current mineral resources. ‘Rathdowney Trend’ is the south-westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.

Qualified Person

Technical information in this news release has been approved by Professor Garth Earls, Eur Geol, P.Geo, FSEG, geological consultant at IGS (International Geoscience Services) Limited, and independent ‘Qualified Person’ as defined under Canadian National Instrument 43-101.

Sampling and Analytical Procedures

All core drilled at Ballywire is NQ (47.6mm) and is cut using a rock saw. Sample intervals vary between 0.10m to 1.28m with an average (over 285 samples) of 0.91m. The half-core samples are bagged, labelled and sealed at Group Eleven’s core store facility in Limerick, Ireland. Selected sample bags are examined by the Qualified Person. Transport is via an accredited courier service and/or by Group Eleven staff to ALS Laboratories in Loughrea Co. Galway, Ireland. Sample preparation at the ALS facility comprises fine crushing 70%

Quality Assurance/Quality Control (QA/QC) Information

Group Eleven inserts certified reference materials (‘CRMs’ or ‘Standards’) as well as blank material, to its sample stream as part of its industry-standard QA/QC programme. The QC results have been reviewed by the Qualified Person, who is satisfied that all the results are within acceptable parameters. The Qualified Person has validated the sampling and chain of custody protocols used by Group Eleven.

About Group Eleven Resources

Group Eleven Resources Corp. (TSXV: ZNG,OTC:GRLVF) (OTCQB: GRLVF) (FSE: 3GE) is drilling the most significant mineral discovery in the Republic of Ireland in over a decade. The Company announced the Ballywire discovery in September 2022, demonstrating high grades of zinc, lead, silver, copper, germanium and locally, antimony. Key intercepts to date include:

  • 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03)

  • 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06)

  • 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12)

  • 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03)

  • 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and

  • 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)

  • 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27)

  • 12.0m of 1.4% Zn+Pb, 560 g/t Ag, 2.30% Cu and 0.17% Sb (25-3552-31), including

  • 6.4m of 2.1% Zn+Pb, 838 g/t Ag, 3.72% Cu and 0.27% Sb (25-3552-31)

  • 39.7m of 9.5% Zn+Pb, 131 g/t Ag and 0.27% Cu (25-3552-35)

Ballywire is located 20km from Company’s 77.64%-owned Stonepark zinc-lead deposit1, which itself is located adjacent to Glencore’s Pallas Green zinc-lead deposit2. The Company’s two largest shareholders are Michael Gentile (14.2%) and Glencore Canada Corp. (14.1% interest). Additional information about the Company is available at www.groupelevenresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer

E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.lau@groupelevenresources.com | T: 604-781-4915

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

Cautionary Note Regarding Forward-Looking Information

Technical and scientific information disclosed from neighbouring properties does not necessarily apply to the current project or property being disclosed. This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company’s public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties.

________________________
1 Stonepark MRE is 5.1 million tonnes of 11.3% Zn+Pb (8.7% Zn and 2.6% Pb), Inferred (Apr-17-2018)
2 Pallas Green MRE is 45.4 million tonnes of 8.4% Zn+Pb (7.2% Zn + 1.2% Pb), Inferred (Glencore, Dec-31-2024)

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264236

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

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Editor's pick

Cracker Barrel will go back to old logo after conservative backlash

Editor's pick 3 Mins Read

Uncle Herschel is returning to the Cracker Barrel chair.

After online outrage by conservatives who accused the country-themed restaurant chain of changing its values or going “woke” when it rolled out a new logo, the company said Tuesday that it was returning to its old branding.

‘We thank our guests for sharing your voices and love for Cracker Barrel. We said we would listen, and we have. Our new logo is going away and our ‘Old Timer’ will remain,’ Cracker Barrel said on Facebook.

‘At Cracker Barrel, it’s always been — and always will be — about serving up delicious food, warm welcomes, and the kind of country hospitality that feels like family,’ the company said. ‘As a proud American institution, our 70,000 hardworking employees look forward to welcoming you to our table soon.’

The new Cracker Barrel logo on a menu in a restaurant in Homestead, Fla., on Thursday.Joe Raedle / Getty Images file

Cracker Barrel, which has restaurants in 43 states, on Aug. 18 announced its new ‘All the More’ campaign and logo change, which removed the old man perched on a chair and the barrel from Cracker Barrel signs.

The new logo did not go over well in some spheres, and on social media, conservative critics accused the restaurant chain of abandoning its traditional values or of being ‘woke.’

President Donald Trump weighed in on the matter earlier Tuesday, writing on his social media platform, Truth Social, that the company should return to the old logo.

After Cracker Barrel announced the reversal Tuesday, Trump said on the platform: ‘Congratulations ‘Cracker Barrel’ on changing your logo back to what it was. All of your fans very much appreciate it.’ Trump also wished the company good luck.

Paul Weaver / SOPA Images/LightRocket via Getty Images

Taylor Budowich, a deputy White House chief of staff, claimed on X that he’d spoken with people at Cracker Barrel by phone Tuesday about the issue and said, ‘They thanked President Trump for weighing in on the issue of their iconic ‘original’ logo.’

Cracker Barrel did not immediately respond to a request for comment about a White House call.

Shares of Cracker Barrel jumped sharply Tuesday night after it announced the reversal. Since the debut of the new logo on Aug. 18, shares are down nearly 13%.

Cracker Barrel tried to tamp down the controversy Monday by admitting ‘we could’ve done a better job sharing who we are and who we’ll always be’ and issuing reassurances that its values had not changed.

The change was part of a “strategic transformation” that started in 2024 to revitalize the brand, CNBC reported when the new logo was introduced. The company has said that the initiative included ‘refreshing the brand identity’ and making changes to its menu.

Other companies have been met with right-wing outrage for advertising or other business decisions, including when Bud Light had a branded content partnership with transgender TikToker Dylan Mulvaney.

This post appeared first on NBC NEWS

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Google has eliminated 35% of managers overseeing small teams in past year, exec says

Editor's pick 4 Mins Read

Google has eliminated more than one-third of its managers overseeing small teams, an executive told employees last week, as the company continues its focus on efficiencies across the organization.

“Right now, we have 35% fewer managers, with fewer direct reports” than at this time a year ago, said Brian Welle, vice president of people analytics and performance, according to audio of an all-hands meeting reviewed by CNBC. “So a lot of fast progress there.”

At the meeting, employees asked Welle and other executives about job security, “internal barriers” and Google’s culture after several recent rounds of layoffs, buyouts and reorganizations.

Welle said the idea is to reduce bureaucracy and run the company more efficiently.

“When we look across our entire leadership population, that’s mangers, directors and VPs, we want them to be a smaller percentage of our overall workforce over time,” he said.

The 35% reduction refers to the number of managers who oversee fewer than three people, according to a person familiar with the matter. Many of those managers stayed with the company as individual contributors, said the person, who asked not to be named because the details are private.

Google CEO Sundar Pichai weighed in at the meeting, reiterating the need for the company “to be more efficient as we scale up so we don’t solve everything with headcount.”

Google eliminated about 6% of its workforce in 2023, and has implemented cuts in various divisions since then. Alphabet finance chief Anat Ashkenazi, who joined the company last year, said in October that she would push cost cuts “a little further.” Google has offered buyouts to employees since January, and the company has slowed hiring, asking employees to do more with less.

Regarding the buyouts, executives at the town hall said that a total of 10 product areas have presented “Voluntary Exit Program” offers. They’ve applied to U.S.-based employees in search, marketing, hardware and people operations teams this year.

Fiona Cicconi, Google’s chief people officer, said at last week’s meeting that between 3% and 5% of employees on those teams have accepted the buyouts.

“This has been actually quite successful,” she said, adding “I think we can continue it.”

Pichai said the company executed the voluntary buyouts after listening to employees, who said they preferred that route to blanket layoffs.

“It’s a lot of work that’s gone into implementing the VEP program, and I’m glad we’ve done it,” Pichai said. “It gives people agency, and I’m glad to see it’s worked out well.”

Cicconi said one of the main reasons employees are taking the buyouts is because they want to take time off from work.

“It’s actually quite interesting to see who’s taking a VEP, and it’s people sort of wanting a career break, sometimes to take care of family members,” she said.

CNBC previously reported that the layoffs hurt morale as the company was downsizing while at the same time issuing blowout earnings and seeing its stock price jump. Alphabet’s shares are up 10% this year after climbing 36% in 2024 and 58% the year prior.

At another point in the town hall, employees asked if Google would consider a policy similar to Meta’s “recharge,” a month-long sabbatical that employees earn after five years at the company.

“We have a lot of leaves, not least our vacation, which is there for exactly that — resting and recharging,” said Alexandra Maddison, Google’s senior director of benefits.

She said the company is not going to offer paid sabbatical.

“We’re very confident that our current offering is competitive,” Maddison said.

Meta didn’t immediately respond to a request for comment.

Other executives jumped in to compare the two companies’ benefits.

“I don’t think they have a VEP at Meta by the way,” Cicconi said.

Pichai then asked, to some laughs from the audience, “Should we incorporate all policies of Meta while we’re at it? Or should we only pick and choose the few policies we like?”

“Maybe I should try running the company with all of Meta’s policies,” he continued. “No, probably not.”

This post appeared first on NBC NEWS

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Basin Energy LtdInvestor Webinar and Presentation

Investing 1 Min Read

Perth, Australia (ABN Newswire) – Basin Energy Limited (ASX:BSN) (OTCMKTS:BSNEF) is pleased to invite shareholders and investors to an investor webinar where Managing Director, Pete Moorhouse will provide a Company update following the recently acquired extensive uranium and rare earth portfolio in Queensland and outline upcoming exploration plans.

DETAILS

Date: Thursday, 28 August 2025
Time: 11:30AM AEST / 9:30AM AWST

Registration:
https://www.abnnewswire.net/lnk/66GZ5R65

Participants will be able to submit questions via the panel throughout the presentation, however we highly encourage attendees to submit questions beforehand via chloe@janemorganmanagement.com.au

To view the Presentation, please visit:
https://www.abnnewswire.net/lnk/3Z6Y66N7

About Basin Energy Ltd:

Basin Energy Ltd (ASX:BSN) (OTCMKTS:BSNEF) is a green energy metals exploration and development company with an interest in three highly prospective projects positioned in the southeast corner and margins of the world-renowned Athabasca Basin in Canada and has recently acquired a significant portfolio of Green Energy Metals exploration assets located in Scandinavia.

Source:
Basin Energy Ltd

Contact:
Pete Moorhouse
Managing Director
pete.m@basinenergy.com.au
+61 7 3667 7449

Chloe Hayes
Investor and Media Relations
chloe@janemorganmanagement.com.au
+61 458619317

News Provided by ABN Newswire via QuoteMedia

This post appeared first on investingnews.com

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Investing

Corazon Mining

Investing 4 Mins Read

Investor Insight

Corazon Mining Ltd presents a compelling investment case driven by a strategic pivot to WA gold exploration, capitalising on its recent acquisition of the Two Pools gold project. This acquisition offers significant near-term exploration upside, while the company retains a high-quality portfolio of base and battery metals projects, providing long-term optionality and leverage to the evolving critical minerals market. This strategy positions Corazon to deliver shareholder value through potential high-impact discovery and future project development.

Overview

Corazon Mining Ltd (ASX:CZN) is an Australian junior exploration company focused on high-quality gold and critical minerals projects in Australia and Canada.

Company Highlights

  • Two Pools Gold Project: The company’s primary focus is the newly acquired Two Pools Gold Project in Western Australia’s highly productive Plutonic Greenstone Belt. This underexplored tenure contains a recently identified 20km-long greenstone belt that was previously misclassified as granite.
  • Confirmed High-Grade Mineralisation: Historical drilling at Two Pools has delivered standout intercepts, including 12m @ 8.89 g/t Au (incl. 3m @ 34.25 g/t Au) and 18m @ 3.89 g/t Au (incl. 4m @ 15.96 g/t Au).
  • Trident-style Analogy: Drilling has confirmed mineralisation extends beneath overthrust granite, a key geological setting similar to Catalyst Metals’ nearby Trident Deposit, highlighting the potential for significant blind discoveries.
  • Strategic Location: Two Pools is located just 60km from Catalyst Metals’ Plutonic Processing Plant, offering strong future development synergies
  • Strategic Battery and Base Metals Portfolio: Corazon retains ownership of key projects in Canada and Australia including the MacBride Copper-Zinc-Gold Project and the historic Lynn Nickel-Copper-Cobalt sulphide camp in Manitoba, and the Mt Gilmore Copper-Cobalt-Gold project in NSW. These assets provide long-term exposure to critical metals.
  • Compelling Value Proposition: Corazon offers a unique investment opportunity with a small market capitalisation but large, high-quality assets.

Key Projects

Two Pools Gold Project (Western Australia)

Project Highlights:

  • A new, highly-prospective gold exploration project in the proven Plutonic-Marymia Greenstone Belt.
  • The project covers 193km2 of underexplored tenure containing a newly identified 20km-long greenstone belt
  • Historical Drilling and surface sampling have confirmed high-grade gold mineralisation, with a compelling geological setting analogous to other major deposits in the region.

Lynn Lake Base & Precious Metals (Manitoba, Canada)

Project Highlights:

  • High-quality base and precious metals asset, offering strategic, long-term value.
  • MacBride Copper-Zinc-Gold Project: High-grade, near-surface mineralisation and significant exploration upside for VMS-style deposits.

Other Projects

  • Mt Gilmore Copper-Cobalt-Gold (NSW, Australia): An emerging porphyry play with potential for a significant potential copper-gold system.

Management Team

Simon Coyle – Managing Director

Simon Coyle is a mining executive with over 20 years’ experience in the resources sector, spanning across gold, iron ore, manganese and lithium. He is a graduate of the Western Australian School of Mines and has held a number of senior operational leadership roles across both private and publicly listed companies.

Most recently, Coyle served as CEO and president of TSXV-listed Velox Energy Materials. Prior to this, he held senior roles at Pilbara Minerals, including general manager – operations, where he was instrumental in the development and expansion of its flagship lithium project, establishing it as one of the world’s leading spodumene concentrate producers. Coyle currently serves as non-executive director of Kali Metals.

Kristie Young – Non-executive Chair

Kristie Young is a professional Board Director who began her career as a mining engineer in the mid 90’s across both underground and open cut operations (incl. Hamersley Iron, Mt Isa Mines, Plutonic Gold, New Hampton Goldfields, Surpac), feasibility studies and project evaluation. She holds a BEng(Mining) Hons from the University of Queensland.

Over 25 years’ industry experience, including business development director roles with both EY and PwC. She brings more than 15 years’ experience on boards and committees and currently serves as a non-executive director of Brazilian Rare Earths (ASX:BRE), Livium (ASX:LIT), Tasmea Ltd (ASX:TEA), and MinEx CRC.

She is a Fellow of the AusIMM and a graduate and Fellow of the AICD.

Scott Williamson – Non-executive Director

Scott Williamson is a highly experienced mining engineer with an Engineering and Commerce degree from the West Australian School of Mines and Curtin University. With more than 20 years of experience spanning technical and corporate roles in the mining and finance sectors, he brings a wealth of industry expertise and strategic insight. A proven leader in business development, Scott has extensive experience in equity capital markets, complementing his strong technical skill set.

Currently, he serves as managing director of Blackstone Minerals and non-executive Director of Leeuwin Metals.

Scott also holds a WA First Class Mine Manager’s Certificate and is a member of the Australasian Institute of Mining and Metallurgy.

Robert Orr – Company Secretary and Chief Financial Officer

Robert Orr manages Corazon’s financial operations and corporate governance, ensuring compliance and effective financial management.

This post appeared first on investingnews.com

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Investing

Basin Energy LtdAcquires Extensive Uranium and Rare Earth Portfolio

Investing 5 Mins Read

Perth, Australia (ABN Newswire) – Basin Energy Limited (ASX:BSN) (OTCMKTS:BSNEF) is pleased to announce that it has entered into a binding agreement to acquire 100% of the issued capital of NeoDys Limited (‘NeoDys’), a privately held critical minerals explorer with a dominant landholding in the Mount Isa region of northwest Queensland.

Key Highlights

– Binding agreement to acquire the largest prospective uranium and rare earth packages in Queensland, adjacent to Paladin Energy Limited’s (ASX:PDN) Valhalla uranium deposit and Red Metal Limited’s (ASX:RDM) Sybella rare earth discovery [1*]

– Early stage exploration supports three distinct, drill-ready exploration models, each amenable to low-cost shallow drilling:

o AEM geophysical survey previously reported identified extensive paleochannel network adjacent to the Sybella uranium ‘hot’ granite.

o Significant hard rock granite rare earth element potential, analogous to Red Metal’s Sybella discovery. Recent auger drill sampling returned numerous significant results including 5 m @ 1,951 ppm TREO with 578 ppm Nd+Pr oxide, incl. 3 m @ 705 ppm Nd+Pr oxide.

o District-scale sediment-hosted ionic clay rare earth potential with $150,000 Queensland Government funding in place to fastrack drilling. Soil sampling completed with numerous samped returning >600 ppm TREO with a maximum of 653 ppm TREO.

– Additional Valhalla-style uranium targets with multiple untested radiometric anomalies, in proximity to Valhalla, Skal and Odin deposits which host a combined 116 Mlbs U3O8 [2*]

– The Company has received firm commitments from institutional and sophisticated investors to raise $1.25 million at $0.025 per share, representing a 9% premium to 20 day VWAP.

– With the oversubscribed placement along with the Queensland grant, Basin Energy is fully funded to test these drill-ready high priority targets, enabling the Company to fast-track multiple uranium and rare earth drill programs.

– Detailed targeting and drill planning is underway with exploration planned to commence in Q4 2025 to test shallow, high priority targets via aircore and reverse circulation drilling.

Managing Director, Pete Moorhouse commented:

‘This acquisition propels Basin into Australia’s uranium and rare earth exploration landscape. These projects deliver exceptional geology, strategic scale and compelling upside across two of the most critical mineral sectors of the energy transition. With drill-ready targets and a low-cost structure, this portfolio is primed to deliver value for shareholders. Over the next 6 months, Basin Energy will be drilling the first holes on three district-scale opportunities for uranium and rare earth deposits in Northwest Queensland.

The Company is delighted with the strong interest in the capital raising. On behalf of the Board, I welcome our new shareholders, and thank existing shareholders for their continued support at an exciting time of development for the Company. We will be holding a webinar to walk through the projects on 28th August and encourage people to log in and learn more about this opportunity.’

Overview

This acquisition provides Basin with a commanding position over one of Australia’s emerging and underexplored provinces for uranium and rare earth elements (‘REE’), leveraging the recent Sybella rare earth discovery by Red Metal Limited (ASX:RDM) and the prospectivity of the adjacent Barkly Tableland.

Basin now holds 5,958 km2 of exploration tenure in the Mount Isa district of northwest Queensland. The projects provide compelling walk-up drill targets that can be rapidly and cost-effectively tested using air core and reverse circulation (RC) drilling. NeoDys have an existing Queensland Government Collaborative Exploration Initiative funding agreement for $150,000, available for Basin to support upcoming drilling programs.

The drill-ready, district scale targets include:

– Paleochannel roll front uranium (1*)

– Sediment and ionic clay hosted rare earth elements (2*)

– Hard rock, granite hosted rare earth elements (3*)

In addition to these three district-scale targets, the project area contains multiple shear-hosted Valhallastyle uranium targets defined for immediate assessment.

The primary model is based on mineralisation sourced from the various granites of the Sybella Batholith (‘the Sybella’), a large north-south trending igneous body containing zones enriched in rare earth elements. This includes the Red Metal (ASX:RDM) Sybella Discovery with a recent JORC inferred resource estimate of 4.795 Bt at 302 ppm NdPr, 28 ppm DyTb (200 ppm NdPr cut-off) or 209 Mt at 377 ppm NdPr, 34 ppm DyTb (360 ppm NdPr cut-off) [1*]. The Sybella granites are also uranium rich, potentially being the source of Paladin Energy’s (ASX:PDN) Valhalla deposits[2*] .

Terms of the Share Placement

The Company has received firm commitments to raise $1.25 million, by way of a two-tranche share placement (‘Placement’) of 50 million shares at an issue price of $0.025 per share. The Placement price represents the Company’s last market close price, and a 9.1% premium to the 20-day VWAP.

Tranche two will be subject to a general meeting, to be called shortly and expected in early October.

The offer was significantly oversubscribed, with proceeds to be allocated as follows:

– Air core drilling on the Barkly Tablelands uranium and REE targets

– RC drilling at the Newmans Bore granite-hosted REE target

– Mapping and sampling of the West Valhalla Radiometric targets

– General working capital.

The Placement was managed internally and was not subject to broker fees.

To view the full announcement, please visit:
https://abnnewswire.net/lnk/3833C16P

About Basin Energy Ltd:

Basin Energy Ltd (ASX:BSN) (OTCMKTS:BSNEF) is a green energy metals exploration and development company with an interest in three highly prospective projects positioned in the southeast corner and margins of the world-renowned Athabasca Basin in Canada and has recently acquired a significant portfolio of Green Energy Metals exploration assets located in Scandinavia.

Source:
Basin Energy Ltd

Contact:
Pete Moorhouse
Managing Director
pete.m@basinenergy.com.au
+61 7 3667 7449

Chloe Hayes
Investor and Media Relations
chloe@janemorganmanagement.com.au
+61 458619317

News Provided by ABN Newswire via QuoteMedia

This post appeared first on investingnews.com

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Editor's pick

What a stake in Intel could mean for U.S. taxpayers now and in the future

Editor's pick 5 Mins Read

U.S. taxpayers are now the largest shareholders in Intel. What comes next isn’t so clear.

The Trump administration announced Friday that the government had taken a 10% stake in the California-based computer chipmaker, which has fallen behind rivals Nvidia and AMD in the artificial intelligence race. Over the past five years, Intel’s share price has declined more than 50%.

The administration has not provided any details about when or under what circumstances it would sell the Intel shares — or whether it would sell them at all. Nor did it say whether the United States would benefit from any dividends, although Intel has not paid out any since last year. The administration does not plan to take any board seats and has said it will vote against the company only in “limited” circumstances.

While Commerce Secretary Howard Lutnick suggested Friday that national security was a key motivator for taking the stake, President Donald Trump focused Monday more on the prospect of financial gains.

“I will make deals like that for our Country all day long,” Trump said on Truth Social. “I love seeing their stock price go up, making the USA RICHER, AND RICHER. More jobs for America!” he added.

Intel’s shares have climbed about 4% since the transaction was announced. Some experts said that while there is a potential upside to the agreement, it represents another norm-shattering expansion of presidential authority by Trump into the business world — and most likely not the last.

Already, the Trump administration has taken a “golden share” in Japan’s Nippon Steel as part of a deal granting approval to that company’s bid for U.S. Steel and giving the government a say in future Nippon transactions. Last month, the Defense Department announced it had purchased $400 million in rare earth miner MP Materials, making it the company’s largest shareholder. The White House also plans to take a cut of the sales that chipmakers Nvidia and AMD make to China.

Trump told reporters Monday that he hopes to see “many more” deals like Intel’s, adding that nobody “realizes how great it will be.” Kevin Hassett, director of Trump’s National Economic Council, said similar deals could help form the basis of a sovereign wealth fund, an idea that the administration had floated earlier as a way of giving U.S. taxpayers direct stakes in companies but had yet to fully develop.

“At some point there’ll be more transactions, if not in this industry, in other industries,” Hassett said on CNBC.

The U.S. stake in Intel does not amount to a complete government takeover. While the federal government has assumed total control of private corporations before, such incidents have usually happened during times of crisis — and not with the direct intention of trying to play the markets.

“He’s doing all this in a spooky, controversial way,” said Clyde Wayne Marks, a fellow in regulatory studies at the Competitive Enterprise Institute, a libertarian think tank. “Right now there is no crisis.”

President Woodrow Wilson nationalized railroads, as well as the telegraph, telephone, radio and wireless stations, during World War I. Nearly two decades ago, the government bailed out a host of private firms during the 2008-09 global financial crisis.

While the bailout involved holding corporate assets on the U.S. government’s books with the goal of returning earnings to taxpayers, there was never any serious intention to own them over the long term. And a Government Accountability Office study concluded in 2023 that the program ultimately came at a net cost of about $31 billion.

The U.S. government has long provided subsidies to private corporations in the form of loans and grants, to varying degrees of success. Two high-profile examples came during the Obama administration, when the Energy Department provided loans to a solar power company called Solyndra and to electric vehicle maker Tesla. Solyndra ultimately went bankrupt, while today Tesla is worth $1.2 trillion on the stock market.

Some have argued that the United States would have benefited from having taken a stake in Tesla. Yet at the time Tesla received the loan, in 2010, beliefs about the free market and the need to limit the government’s role in it prevailed not just among Republicans, but among Democrats, as well, experts say.

“Our system has not typically been built that way — it’s not how free enterprise is typically run,” said Dan Reicher, a former Energy Department official under Presidents Bill Clinton and Barack Obama. “History has proven that the more free-market approach, making the bottom line the bottom line for the companies running these operations, is a smarter way to go.”

Intel’s fortunes have sagged. Its manufacturing segment lost $3.2 billion in the second quarter, and last month it said it would lay off 15% of its workforce by year’s end while canceling billions in planned investments and delaying the completion date for a $28 billion chip plant near Columbus, Ohio.

In a securities filing Monday, Intel warned investors of the potential risks involved in the U.S. investment, among them that the arrangement may actually limit its ability to secure grants down the road, depending on its future performance. It could also harm international sales and make Intel subject to additional regulations and restrictions, both at home and abroad, it said.

On Monday, Trump was asked whether the Intel investment represented a new way of doing industrial policy.

“Yeah. Sure it is,” Trump said. “I want to try to get as much as I can.”

This post appeared first on NBC NEWS

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