Cardiex Limited (CDX:AU) has announced Cardiex Receives TGA Approval for CONNEQT Pulse Device
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Canada’s mining sector is gaining momentum, with over 130 projects with a total value of C$117.1 billion now planned or in construction, according to Natural Resources Canada’s 2024 inventory. That’s an increase of nine projects and C$23.5 billion from the previous year, signaling strong interest in resource development.
Yet despite this growth, the path to production remains slow. A study published in FACETS and cited by the Mining Association of Canada shows that the average timeline from discovery to production exceeds 17 years, highlighting the pressing need to streamline Canada’s complex and often lengthy permitting process.
Although miners, explorers and developers have long criticized the decades-long process, Canada’s federal and provincial governments have only recently begun working to expedite the process in an effort to harness the country’s vast critical minerals potential and assert the nation’s dominance in resource extraction.
The federal government has committed to expediting and streamlining the permitting process, laying out ambitious targets in its 2024 budget. Those goals include completing federal impact assessments and permitting for designated mining projects within five years, and within two years for non-designated projects.
Achieving these targets will involve establishing a federal mining permitting coordinator, enhancing funding for federal review authorities and promoting concurrent regulatory reviews to reduce duplication and delays
Provincial governments also play a significant role in mining project approvals.
A May 2025 report from the Mining Association of BC, outlines the economic potential of 27 advanced-stage mining projects in the province totaling more than C$90 billion. The projects highlighted in the report are described as new; however, there are several past-producing assets that are being offered a new lease on life.
One of those projects is Blue Lagoon Resources’ (CSE:BLLG,OTCQB:BLAGF) Dome Mountain gold project.
Located 50 minutes from Smithers, the 22,000 hectare property hosts the historic Dome Mountain mine, where past exploration and development were focused on the Boulder Vein, initially discovered in the 1980s.
In February, Blue Lagoon secured the final permit needed to advance its Dome Mountain project, clearing the way for production to begin in Q3 2025. The permit — one of just nine mining permits granted in BC since 2015 — marks a significant milestone for the junior miner, and positions the company to transition from an explorer to a gold and silver miner.
The path to production at Dome Mountain
Although Dome Mountain was in production between 1980 and 1993 under different management, securing permits to restart activity at the 30 year old brownfield proved as complex as starting up a greenfield project.
“It wasn’t easy at all,” said Vig. “They say that it takes over 15 years to get a mine permit in BC, and people are congratulating us that we got it in just under five. And personally, I thought it was four years too late.”
He went on to note, “Imagine being in any business that you have to wait. You know, you open up your restaurant, but then you have to wait for five years to open it. I mean, it’s incredibly difficult to get a mining permit”
Indeed, BC has one of Canada’s longest permitting processes. A 2019 report from Resource World notes that it takes six months on average to get an exploration permit in Canada. However, in BC, it can take 15 to18 months.
National and provincial critical minerals strategies have been established over the last six years, and parties on both sides of the aisle have promised policy reforms. But Vig underscored the challenges that remain.
“I think we want to believe that,” he said of the notion that the permitting process will be expedited through the critical minerals push. “I think the politicians are certainly saying that, but I’m not so confident that the execution can be there,” he continued. “Because, you know, you’ve got many factors. You’ve got the infrastructure of the government itself, the bureaucracy. There are only so many people that are able to process these applications.”
Indigenous consultation and permitting with purpose
A key requirement in the permitting process is Indigenous community consultation, engagement and approval, an area provincial governments have struggled to seamlessly integrate into the process.
For Blue Lagoon, communication and consultation with the Lake Babine Nation started early and remains a key tenet.
The Lake Babine Nation is one of BC’s largest Indigenous communities, with over 2,500 registered members. Its traditional territory surrounds Babine Lake, the province’s longest natural lake.
“We have a great relationship with the Lake Babine Nation,” said Vig. “You know, honestly, it was a very simple process. It’s a philosophy, that is very rudimentary, certainly in my culture.” Vig, who is of Indian heritage, moved to Canada in 1972 with his family, credits those formative years for fostering his deep sense of respect.
“My whole upbringing is all about respect. So for us, it was very simple — respect the people, respect the land,” he said, adding that a lot of it was common sense. “Protect the water, protect the land and make sure you don’t damage it as you go along (are) good practices (for) any business,” Vig emphasized.
Water conservation and protection is especially important to Blue Lagoon, an issue Vig described as “a way of life” due to its significance for fishing and cultural practices.
‘You don’t wait to be asked — you take the initiative to understand what matters most,” he said.
As he explained, provincial regulatory requirements called for water testing at five sites along a specific stream, and Blue Lagoon chose to conduct testing at nine locations instead.
“It’s really unheard of in our industry, to the best of my knowledge. We didn’t just do what was required of us. We like to go above and beyond to make sure. And when you do things like that, I think the sincerity comes across,” he said.
Financing in a tough market
Another challenge junior miners are facing is accessing funding. Investors who once used added liquidity to the space have moved to other sectors like tech, leaving mining coffers on the decline.
Blue Lagoon has been fortunate in terms of capital raising; the company completed the final tranche of its most recent private placement in late April, raising C$2.23 million through the issuance of 8.9 million units at C$0.25 each.
The full offering brought in C$4.87 million over four tranches, fully funding Dome Mountain to production.
Blue Lagoon’s ability to fast track its permitting and funding process were praised by mining committee chair Yannis Tsitos, who has more than two decades of experience in the mining sector working for companies like global commodities giant BHP (ASX:BHP,NYSE:BHP,LSE:BHP). Drawing on his history with large-scale operations, Tsitos described the Blue Lagoon’s approach as unusually nimble and disciplined.
“We haven’t cut a single corner,” he said, noting that while major players can afford to raise hundreds of millions upfront, most juniors must build organically. “What’s impressive is how this team — led by Rana — used creativity and persistence to move forward without delay,” he added. “It’s not about size; it’s about profitability and execution.”
He emphasized that Dome Mountain’s 15,000 ounce per year potential is just the beginning.
“Every major company started with one mine,” said Tsitos. “This could be the first step in something much bigger, and it’s happening right here in BC, which is hungry for investment.”
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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Harmony Gold Mining Company’s (NYSE:HMY,JSE:HAR) wholly owned Australian subsidiary, Harmony Gold (Australia), has entered into a binding agreement to acquire MAC Copper (NYSE:MTAL,ASX:MAC).
MAC is the owner of the CSA copper mine in New South Wales. Its annual production comes to approximately 40,000 metric tons of copper, with 2024 output totaling 41,000 metric tons of the red metal.
The transaction is priced at US$12.12 per MAC share in cash, implying a total equity value of US$1.03 billion for MAC.
“(This acquisition) is significant as it introduces a high-quality, established underground producing copper asset to the Harmony portfolio,” said Harmony Gold CEO Beyers Nel in a Tuesday (May 27) press release.
“The operation is a logical fit with the portfolio given it meets Harmony’s core investment criteria, including increasing free cash flow generation while improving margins at long-term expected commodity prices.”
Located 700 kilometers west-northwest of Sydney in the Cobar region, CSA has a history that stretches back at least 150 years. Its reserve life stands at over 12 years, and it has maintained a stable resource over the last decade.
Harmony believes CSA will be a valuable addition to its sole Australian asset, Eva, in Northwest Queensland. Harmony acquired Eva in December 2022, and believes it is set to become the state’s biggest copper mine.
According to the company, Eva and CSA could together boost its copper production on the east coast of Australia to 100,000 metric tons annually over the course of the next five years.
The transaction remains subject to certain conditions, but MAC’s board has unanimously recommended that shareholders vote in favor of the scheme. Should everything follow to schedule, the deal is expected to close in Q4.
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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PARIS — Second seed Coco Gauff brushed aside Russian Ekaterina Alexandrova 6-0 7-5 on Monday to move into the French Open quarterfinals and stay on course for her first title in Paris.
The American world No. 2 must have thought she would have an easy morning session after powering through the first set in sensational fashion but the Russian bounced back in the second to test her opponent.
‘The whole match I played well. She stepped up her game in the second set. Overall I thought I played great,’ Gauff said.
‘I move well on clay, really comfortable with sliding and moving on the surface. The most physical surface for sure and I do well in that department.’
Hunting her first French Open crown after reaching the final in 2022 and semifinals last year, the 21-year-old started fast, earning three consecutive breaks for a 5-0 lead in 15 minutes.
Gauff was running her opponent ragged across the baseline, with the 30-year-old Alexandrova, bidding to reach her first Grand Slam quarterfinal, earning a mere five points until that stage.
Gauff, who has now won four of five meetings against Alexandrova, gave away five break points in the next game but still secured her first bagel of the tournament before the Russian got on the scoreboard at the start of the second set with her first hold.
Unforced errors started creeping into Gauff’s game as Alexandrova put up stronger resistance.
Gauff, the youngest American player to have reached at least the fourth round at seven consecutive Grand Slams since Venus Williams between 1997-1999, broke Alexandrova at 3-3.
But the Russian broke straight back and went up 5-4, with Gauff clearly rattled and double-faulting twice before holding to level.
The second seed kept her composure, broke Alexandrova and wrapped up the match on her serve. She will next face the winner of the all-American fourth-round clash between Madison Keys and Hailey Baptiste.
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Major League Soccer players want more money for participating in the FIFA Club World Cup later this month, but say they have received pushback from the league in their efforts.
Three MLS clubs — Seattle, Lionel Messi’s Inter Miami and Los Angeles FC — will represent the league in the tournament, which begins June 14 and will be hosted in the United States.
FIFA’s Club World Cup boasts a $1 billion prize pool — $475 million disbursed based on performance, and $525 million given to participating teams. The winner will take home at least $125 million. The MLS teams will make at least $9.5 million just for participating, while wins during each stage of the tournament will only drive up the possible earnings.
However, MLS players earn 50 percent of money earned from outside tournaments — capped at $1 million, according to the league’s collective bargaining agreement.
The MLS Players Association released a statement shortly after the Sounders players display.
“The MLSPA and all MLS players stand united with the Seattle Sounders players who tonight demanded a fair share of the FIFA Club World Cup prize money,” the statement read.
“FIFA’s new tournament piles on to players’ ever-increasing workload without regard to their physical well-being. In order to seize this additional calendar territory, FIFA had to commit historic amounts of prize money to secure club and player participation. As a result, MLS will receive an unprecedented financial windfall.
“Despite this windfall, the league has refused to allocate a fair percentage of those funds to the players themselves.
“For months, the players have privately and respectfully invited the league to discuss bonus terms, yet MLS has failed to bring forward a reasonable proposal. Instead of recognizing the players who have brought MLS to the global stage, the league – which routinely asks the (player association) to deviate from the (collective bargaining agreement) – is clinging to an out-of-date CBA provision and ignoring longstanding international standards on what players typically receive from FIFA prize money in global competitions.
“It is the players who make the game possible. It is the players who are lifting MLS up on the global stage. They expect to be treated fairly and with respect.”
Messi and Inter Miami will play in the Club World Cup opener against Egyptian club Al Alhy on June 14 in Miami. Inter Miami will also play FC Porto (Portugal) on June 19 in Atlanta, and SE Palmeiras (Brazil) on June 23 in the group stage.
The Sounders will play all three of their group stage matches at home in Lumen Field in Seattle. They’ll face Botafogo (Brazil) on June 15, Atletico Madrid (Spain) on June 19, then Paris Saint-Germain (France) on June 23.
LAFC became the last team to enter the Club World Cup after a thrilling 2-1 win against Liga MX standouts Club America on Saturday night. They will face Chelsea (England) in Atlanta on June 16, Espérance (Tunisia) in Nashville on June 20 and CR Flamengo (Brazil) in Orlando on June 24 during the group stage.
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By nearly every metric, the Yankees’ Aaron Judge’s offensive performance during the first two months of the 2025 season ranks among the best in baseball history. Whether he can maintain this torrid pace for the next four months could determine if he joins the ranks of the all-time greats. Consider just a few of his numbers:
Batting average: Judge finished May with a .398 batting average – a hit short of topping .400 and 24 points ahead of Dodgers’ Freddie Freeman, who is also having a career year.
Power: Two of every five hits have gone for extra bases, including Judge’s 21 home runs. He finished May just one shy of league leaders Shohei Ohtani and Cal Raleigh. Judge’s slugging percentage, though, is more than 100 points of ahead of Ohtani’s.
On base percentage: Add 38 walks to Judge’s 86 hits, and he’s been on base almost every other time he steps up to the plate.
How Aaron Judge’s 2025 offensive numbers compare to some of MLB’s best
Unable to view our graphics? Click here to see them.
The OPS statistic combines a player’s on-base percentage with his slugging percentage. The sum shows how consistently a player reaches base along with how often the player hits for power – the more bases a player reaches per hit, the higher the slugging percentage.
With exception of his rookie season, Judge’s OPS has been at least 150 points higher than the league average, and his OPS has been trending even higher during the past four seasons. He led the MLB in OPS in 2022 and 2024 – the same years he won the American League MVP award.
Aaron Judge’s OPS continues to club
What the Yankees’ Aaron Judge has accomplished at the plate in the first third of the season would rank among the best seasons ever in MLB history if could maintain this pace. Judge’s 1.268 OPS would trail only the best years in the careers of Babe Ruth, Barry Bonds and Ted Williams – who was also the last to hit .400 that year in 1941.
With more than 100 games left in the season, the long grind could pull Judge’s numbers back down to Earth. Consider some of the other strong starts in the first two months of the season during the past decade.
Players with league-leading OPS in first two months of the MLB season
If you dig a little deeper into Judge’s numbers this season, you see he’s not hitting the ball quite as hard as he has in previous years. According to MLB, his average exit velocity ranks third at 95.4 mph behind the Pirates’ Oneil Cruz and Ohtani. Judge led the league last year with a 96.2 mph average.
So while Judge’s hits are a tick down in velocity, he’s on a pace to set a record for balls hit into the field of play, or batting average on balls in play (BABIP). The MLB average is .290 this season, the lowest since 1992. At .461, Judge’s BABIP is the third-highest in the first 54 games of a season since 1969, behind Jim Edmonds in 2000 and Yasiel Puig in 2013.
Where Judge’s BABIP would rank among best seasons since 1901
In 2024, Judge had one of his more typical slow starts, batting .207 in April. But he ultimately won his second MVP last season, finishing with a .322 average, 1.159 OPS and 58 home runs. His 10.8 WAR was the same he produced in his 62-homer 2022 MVP campaign.
At this pace, it’s not hard to image Judge claiming another American League MVP. He’d join an exclusive club among Yankees three-time MVPs: Joe DiMaggio, Yogi Berra and Mickey Mantle. Consider all the other firsts he vaulted into by the end of May:
Hitting categories where Aaron Judge ranks first in the American League
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Journalism is expected to race in the $2 million Grade 1 Belmont Stakes race on Saturday, June 7.
The 3-year-old colt is coming off a victory as the odds-on favorite in the Preakness Stakes race on May 17, working his way from along the rail and in the middle of the pack to break free after the final turn and overcoming some bumping from other competitors.
Michael W. McCarthy, Journalism’s trainer, praised the horse by telling the New York Racing Association that ‘he’s a wonderful mover. He gets over the ground very well. He’s got an incredible stride to him.’
Journalism finished the Preakness with a time of 1 minute, 55.47 seconds at Pimlico in Baltimore, Maryland.
The Preakness winner will go against a field that features Sovereignty, the Kentucky Derby winner. Journalism finished in second place in the Kentucky Derby on May 3.
Journalism will be the only horse among the Belmont field that’s competed in all three Triple Crown races. Sovereignty did not compete in the Preakness.
When will the Belmont Stake post position draws be announced?
The Belmont Stakes post position draws will be held on Monday at 5 p.m. ET.
Journalism wins the Preakness Stakes
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The unranked UTSA Roadrunners are moving on in the NCAA baseball tournament after knocking off the No. 2-seeded Texas Longhorns 7-4 at UFCU Disch-Falk Field in the Austin Regional on June 1.
UTSA will play in its first NCAA baseball super regional. The victory led to coach Pat Hallmark leaping into the arms of pitcher Conor Myles after the game as the team began to celebrate.
Norris McClure’s two-run home run in the first inning provided the Roadrunners with an early lead and set the pace for the 7-4 victory over the in-state rival.
“That was one of the greatest games in baseball that I had ever been a part of,” McClure said on the ESPN broadcast after the game. “We knew we had talent and just had to stay where our feet were.”
UTSA had seven different players score a run in the game. Ty Hodge was responsible for three of those RBIs on two hits. Pitcher Gunnar Brown allowed six hits and one earned run with four strikeouts and two walks in five innings pitched against the Longhorns.
Texas was the second top-two school to get eliminated in its home regional after Wright State beat No. 1 seed Vanderbilt 5-4 on Sunday.
Texas out-hit UTSA 9-8 in the game, including two from Max Belyeu and Rylan Galvan. Belyeu had a two-run home run in the top of the ninth that brought in Galvan and helped the Longhorns cut into the lead, 7-4. As it turns out, those were the last runs of the season for the Longhorns.
The Roadrunners’ win wasn’t a fluke, either. Hallmark’s team won both of the teams’ two prior meetings this season: 8-7 in 12 innings on March 18 and 9-7 on May 31. The latter of those sent Texas to the loser’s bracket in the Austin Regional on June 1.
While the Roadrunners entered the game after having the afternoon off, the Longhorns eliminated Kansas State with a 15-8 win before fighting to keep their season alive.
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Over the past five sessions, the Indian equity markets headed nowhere and continued consolidating in a defined range. In the previous weekly note, it was categorically expected that the markets might stay devoid of any directional bias unless they either take out the upper edge or violate the lower edge of the consolidation zone. In line with the analysis, the Nifty oscillated in a 401.90-point range over the past five days. The volatility also retraced; the India Vix came off by 6.95% to 16.08 on a weekly basis. While staying absolutely range-bound, the headline index Nifty 50 closed with a minor weekly loss of 102.45 points (-0.41%).
As we step into the new week, the markets find themselves in a defined trading range, more toward the edge of the pattern support on the weekly chart. The Nifty appears to continue being in a well-defined trading range between 25100 and 24500 levels. This also implies that a directional trend would emerge only if the Nifty takes out 25100 convincingly or ends up violating the 24500 level. Unless either of these two things happens, the markets will remain devoid of directional bias and will continue staying in this defined range. The present technical structure makes it even more important to maintain a steadfast focus on protecting profits at higher levels and the rotation of sectors where a likely leadership change is visible.
The coming week is expected to see the levels of 25000 and 25175 acting as resistance points. The supports come in at 24500 and 24380 levels.
The weekly RSI is at 59.02; it stays neutral and does not show any divergence against the price. The weekly MACD is bullish and remains above its signal line.
The pattern analysis shows that after forming the most recent swing high at 25116, the Nifty has resisted this level for two subsequent weeks. This makes the level of 25100-25150 an important hurdle for the Nifty. Secondly, the Index has closed just at the support of an upward rising trendline; if this gets violated, the markets may see some more corrective retracement. Overall, the zone of 24500-24600 remains a crucial support area for the markets.
While the Nifty stays in the 25100-24500 zone and consolidates, focusing on protecting profits at higher levels would be wise. While the market keeps its underlying trend intact, it continues to remain prone to some extended corrective retracement until the levels of 25100 are taken out on the upside convincingly. During this phase, it makes more sense to keep leveraged exposures at modest levels and stay highly selective in making fresh purchases. While limiting the purchases to favorably rotating sectors, a cautious outlook is recommended for the coming week.
Sector Analysis for the coming week
In our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 (NIFTY 500 Index), representing over 95% of the free-float market cap of all the listed stocks.
Relative Rotation Graphs (RRG) show that the Nifty PSU Bank Index is the only Index inside the leading quadrant that continues to improve its relative momentum against the broader markets. The other sectors present inside the leading quadrant are PSE, Infrastructure, Consumption, and FMCG, and these groups show continued paring of relative momentum against the broader markets.
The Nifty Commodities and the Nifty Bank Index have rolled inside the weakening quadrant. The Financial Services and the Services sector Indices are also inside the weakening quadrant.
The Nifty Metal Index has rolled inside the lagging quadrant. It is likely to relatively underperform along with the Pharma Index which also continues to languish inside this quadrant. The IT Index is also inside the lagging quadrant, but is seen sharply improving its relative momentum against the broader markets.
The Realty, Media, Energy, Midcap 100, and Auto Indices are inside the improving quadrant. They are likely to continue improving their relative performance against the broader Nifty 500 Index.
Important Note: RRG charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals.
Milan Vaishnav, CMT, MSTA
Consulting Technical Analyst
The gold price saw peaks and troughs this week.
After rising to almost US$3,350 per ounce on Monday (May 26), the yellow metal took a dive, dropping just below the US$3,260 level on May 28 (Wednesday). It was back on the rise the next day, hitting US$3,324.
Trade tensions were in focus throughout the period.
Concerns lessened early in the week, when US President Donald Trump said he would delay raising tariffs on the EU, but uncertainty ratcheted back up on Wednesday (May 28), when an American trade court issued a ruling that blocked most of his tariffs put in place by his administration.
“It is not for unelected judges to decide how to properly address a national emergency” — Kush Desai, White House spokesperson
The decision prompted a flurry of activity and backlash from Trump and his supporters, with a federal appeals court ultimately reinstating the tariffs on May 29 (Thursday).
The turmoil was beneficial for gold, as was news that the US economy shrank by 0.2 percent annually in Q1. The GDP estimate is the second of three from the Bureau of Economic Analysis, and comes in lower than the first calculation of a 0.3 percent contraction.
Bullet briefing — Glencore restructures, Anglo completes spinoff
Glencore restructuring move sparks M&A talk
Commodities giant Glencore (LSE:GLEN,OTC Pink:GLCNF) has quietly moved billions worth of global coal and ferroalloys assets into an Australian subsidiary.
The Australian Financial Review was the first to report the news, and it’s already sparked speculation about renewed M&A talks between Glencore and Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO). The two major companies reportedly engaged in discussions last year, but in the end did not move forward.
With this restructuring from Glencore and Rio Tinto’s CEO due to step down later this year, market watchers see potential for a deal to be done.
Anglo American spins off Valterra Platinum
Anglo American (LSE:AAL,OTCQX:AAUKF) made headlines elsewhere this week as the firm finished demerging its platinum-group metals unit, Valterra Platinum (JSE:VAL).
Valterra, formerly Anglo American Platinum, began trading on the Johannesburg Stock Exchange on May 28, and will have a secondary listing in London as of June 2.
Anglo made the decision to spin off Valterra after heading off a US$49 billion takeover bid from BHP (ASX:BHP,NYSE:BHP,LSE:BHP) last year. The company embarked on a restructuring plan that will see it hone in on copper and iron ore.
Interestingly, Valterra’s debut comes alongside a platinum price boost. The metal recently broke out to its highest level in about two years, nearly reaching US$1,100 per ounce.
Edward Sterck of the World Platinum Investment Council believes it’s too soon to tell whether the rise is sustainable, but he does see a ‘perfect storm’ brewing for platinum.
Here’s how he explained it:
I think platinum’s fundamentals are just highly attractive at the moment. You’ve got really constrained supply, you’ve got demand that is actually beginning to show some real signs of growth, driven principally by an inflection in jewelry demand and by ongoing growth in investment demand.
And so given those things are resulting in these really significant deficits — this is the third year of almost a million ounces of deficit out of an 8 million ounce market — those are just rapidly depleting those aboveground stocks … this has all generally come together as a perfect storm. We are seeing that tightness in the market, and I feel quietly optimistic that we’re going to see that long-awaited price response come through.
Watch the full interview for a more in-depth look at supply and demand dynamics for platinum.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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