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Objectors argue new NCAA roster-limit deal remains unfair for athletes

Sport 4 Mins Read

Objectors to the proposed settlement of three athlete-compensation antitrust cases against the NCAA and the Power Five conferences have argued in new filings that even a recently amended version of the deal remains unfair to athletes who could lose their places on teams due to sport-by-sport roster limits that are part of the agreement.

The limits had been set to go into effect on July 1 for any school that chooses to participate in another feature of the agreement: paying athletes directly for the use of their name, image and likeness (NIL). But on April 23, U.S. District Judge Claudia Wilken refused to grant final approval, saying in an order that the roster arrangement is “not fair” because thousands of athletes who are supposed to be benefiting from the deal stood to lose their places on teams after the current school year.

She gave the sides two weeks to address her concerns, and wrote that one solution would be “to ensure that no (athletes) who have or had a roster spot will lose it as a result of the immediate implementation of the settlement agreement.”

On May 7, lawyers for the plaintiffs, the NCAA and the conferences wrote that they had agreed to a setup under which schools would have the option to exempt from the limits any athlete who was on a roster in 2024-25 and who has been or would have been removed for 2025-26 because of the limits for the remainder of their college careers. It also would let schools similarly accommodate any high school senior who was ‘recruited to be, or was assured they would be’ on a Division I school’s roster for the 2025-26 school year.

However, this would not remove the roster limits from the settlement. And this would not require schools to keep all of their current athletes on their rosters. Lawyers for the NCAA wrote that ‘there are no guarantees’ that these athletes ‘will get or maintain roster spots. But that does not adversely affect any’ athlete, the NCAA said, because athletes’ roster spots always have been ‘at the discretion of the coach’ and the school.

In filings on May 9 and May 13, three lawyers for objectors who had been allowed by Wilken to have input in how the agreement would by modified, separately argued, basically, that athletes have been on teams or promised spots should be assured that they will not lose those positions because of the limits.

 “A settlement like this one, which vests (the schools) with ‘discretion’ to provide relief – or not – is no settlement at all,” wrote a group represented by Chicago-based attorney Steve Molo. “Indeed, numerous Objectors are hearing that schools have no intention of relaxing roster limits at all, leaving many student-athletes in the same position as under the settlement (Wilken) rejected as unfair.”

Molo’s group proposed that all athletes currently on a roster or promised a spot should not count against the limits for the duration of their careers. This group said schools would have the discretion to cut athletes “for legitimate reasons unrelated to the roster cap, such as conduct violations and poor athletic or academic performance,” but if there is dispute about this, the athlete could ask for an arbitrator to decide the matter.

Another objector lawyer, Laura Reathaford, argued for mandatory grandfathering of current athletes and of high school seniors who had “accepted an offer” to join a team in 2025-26 until their eligibility expires.

“By making grandfathering … optional, the (athletes) are still not treated equitably relative to each other and relief is not being provided to each (athlete covered by the settlement) as the law requires,” she wrote. “Instead … conflicts persist by protecting some athletes while leaving the others exposed.”

A third group of lawyers led by Denver-based attorneys Douglas DePeppe and Robert Hinckley endorsed the other objectors’ proposals but argued for what they termed “a formal grievance” and “oversight” system.

The plaintiffs, the NCAA and the conferences can respond to these in arguments they must provide to Wilken no later than May 16.

Wilken has written that she was inclined to approve the rest of the deal over a variety of other objections. That means she already was otherwise prepared to accept an arrangement under which $2.8 billion in damages would be paid to current and former athletes — and their lawyers — over 10 years, and Division I schools would be able to start paying athletes directly for use of their NIL, subject to a per-school cap that would increase over time and be based on a percentage of certain athletics revenues.

This post appeared first on USA TODAY

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Stock

Market Maker Manipulation; Oops, They Did It Again!

Stock 4 Mins Read

Let’s be honest. Did anyone think a little more than a month ago that the S&P 500 was primed for a 1000-point rebound? I turned bullish at that April 7th bottom a month ago, but I did not see this type of massive recovery so quickly.

Why does this happen?

I believe these panicked selloffs occur, because the big Wall Street firms get out prior to market massacres and they need to get back in. What’s the best way to accumulate shares? To send out your best market influencers (oops, I meant analysts) to drive home the pain and misery that’s coming. I mean, just ask the media outlets. They were the ones responsible for all those terrorizing headlines. And market makers added panic by opening stocks much, much lower from previous days’ closes on many occasions this year.

Want some evidence?

Well, let’s go back in time and zero in on the more aggressive QQQ (ETF that tracks the NASDAQ 100):

At the very bottom, when the most manipulation takes place, we see massive gaps to the downside that create opportunities for Wall Street firms to buy in much, much cheaper as retail traders panic sell into those falling gaps. The massive volume that accompanies capitulation makes it very easy for market makers to buy lots of shares on their own behalf and on behalf of their institutional clients. This institutional buying is reflected by higher prices intraday. Looking at the above chart, the QQQ tumbled 52.46 (476.15-423.69) over 3 trading days. But the total gap downs over those 3 days were 46.26, nearly 90% of the entire 3-day meltdown. This wasn’t a distribution period or a selling event, it was a MARKET MAKER MANIPULATION EVENT.

Want an even more telling stat? From the March 13th close (467.64) to the Friday, May 9th close (487.97), the QQQ gained roughly 20 bucks. Here’s the breakdown of how the QQQ traded on an intraday basis over this 2-month period:

  • Opening gaps: -42.31
  • 9:30-10:00: +19.18
  • 10:00-11:00: +6.72
  • 11:00-2:00: +21.86
  • 2:00-4:00: +14.13

During a period when the QQQ gained roughly 20 bucks, the cumulative opening gaps were -42 bucks. That means that the QQQ saw buying to the tune of 62 bucks during the trading day. Panicked retailers took the market makers’ bait and sold with all the media-related nonsense, while market makers were secretly buying for all their Wall Street colleagues and buddies.

If you’re sitting in cash right now, wondering when to get back in, I can promise you that you’re not alone. This 2025 “massacre” and “shocking rebound” were planned all along. Wall Street’s rotation into defensive areas of the market had me and many EarningsBeats.com members in cash back in January and early February. They absolutely knew this was coming, but media outlets weren’t telling us back then to get out. They waited for the fear to kick in before posting their ridiculously-bearish headlines over and over and over again – forcing retail traders to say “Uncle!!!!!”

This is what I refer to as “legalized thievery.” It’s how our financial system works unfortunately. You either learn how to play defense against it or periodically suffer the consequences. At EarningsBeats.com, we choose the former.

How To Build A Winning Portfolio

Now that the manipulation is in our rear view mirror and the S&P 500 looks to move back into all-time high territory, it’s very important to understand the best way to outperform the benchmark S&P 500. That’s what we strive to do over time and we’ve been very successful at it. This Saturday, May 17th, at 10:00am ET, I’ll be hosting a webinar to show you how to successfully build a portfolio that outperforms over time. One part of this webinar will be dedicated to highlighting the keys to spotting the 2025 cyclical bear market and determining the best time frame to jump back in. We’ve made these calls in real time during 2025, from our MarketVision 2025 event in early January to my Daily Market Reports to EB members to my StockCharts blog articles to my YouTube shows hosted by both EarningsBeats.com and StockCharts.com. It’s extremely important that we learn from difficult periods in the stock market so that we’re better prepared for the next one.

Don’t allow Wall Street to manipulate you. I’m going to show you the best way(s) to avoid it when it occurs again. And it WILL happen again. CLICK HERE to learn more, register for our “How To Build A Winning Portfolio” and save your seat. If you cannot make the event live on Saturday, you’ll receive a recording of the event to listen to at your leisure simply by registering. So register NOW!

Happy trading!

Tom

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Stock

Unlock the Power of StockCharts’ NEW Market Summary Dashboard | Walkthrough & Tips

Stock 1 Min Read

In this in-depth walkthrough, Grayson introduces the brand-new Market Summary Dashboard, an all-in-one resource designed to help you analyze the market with ease, speed, and depth. Follow along as Grayson shows how to take advantage of panels, mini-charts, and quick scroll menus to maximize your StockCharts experience.

This video originally premiered on May 12, 2025. Click on the above image to watch on our dedicated Grayson Roze page on StockCharts TV.

You can view previously recorded videos from Grayson at this link.

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Stock

Navigating Earnings: Three Stocks, Three Different Stories

Stock 5 Mins Read

Earnings season continues, and this week we’re looking at three companies heading into their reports with different trajectories. One is in a long-term downtrend, one has been a steady riser, and one is somewhere in between. Let’s unpack what’s happening adn what to watch, all with an eye on balancing opportunity and risk, something that matters even more when you’re managing your own nest egg.

Under Armour (UAA): Looking for a Comeback

If you’ve held Under Armour for the long term, you would be better off hiding out literally under armor than trying to make money owning the stock. For traders, though, there may be a near-term opportunity to trade.

The stock’s all-time peak coincided with the peak of the Golden State Warriors and Steph Curry jacking up threes. Every kid in the gym tried to be like Steph, and young basketball players couldn’t get enough of his gear. I know because I coached these kids! Good luck getting them to practice lay-ups… it was just shooting bombs like Curry, but I digress.

Coming to earnings, UAA stock is trading just above all-time lows and is looking for a new catalyst to turn things around (see chart below). Let’s see if Kevin Plank can spark a comeback.

FIGURE 1. DAILY CHART OF UNDER ARMOUR STOCK.Technically, things have been messy over the long-term and intermediate term. But for short-term traders, there may be an opportunity. I’ve added the 20-day simple moving average (SMA) to the chart (green line). Over the past years, when the stock’s price moved above this point, it has led to a near-term rally. Sadly, those rallies have been short-lived. 

Maybe this time it will be different.

The $6.10-$6.20 range is a key level to watch. That’s where the 50-day SMA and the old pocket of longer-term support the stock broke below on April 2 meet. From a risk/reward perspective, use this as the line in the sand to be long or short Under Armour stock.

Any upward momentum that gets price to and above this level could lead to a bigger rally. It’s not a pretty picture, but risk/reward metrics for a short-term trade and potential near-term bottom look possible.

Walmart (WMT): A Bellwether for Tariffs and Spending

Walmart could be one of the most telling stocks when it comes to tariff impacts when they report on Thursday.

Last quarter, the company expressed caution regarding the upcoming fiscal year, cutting their EPS numbers short of analyst expectations. This conservative outlook was attributed to uncertainties surrounding consumer spending and the potential impact of tariffs. Investors will be listening closely to this report for strategies on managing tariff-related challenges, maintaining competitive pricing, and supply chain issues that may make stocking shelves more of a challenge.

Technically, shares gapped lower after the last earnings report and broke a long-term downtrend (see chart below). While price did wash out and successfully test its 200-day SMA, it hasn’t been able to make it all the way back.

FIGURE 2. DAILY CHART OF WALMART, INC. Walmart’s stock price appears to be toppy as it struggles to fill last quarter’s gap. The lack of new highs and a moving average convergence/divergence (MACD) that is extended and turning over lends to a more cautious narrative coming into this week’s numbers.

The trend is not the investor’s friend at the moment. It may be better to wait and see how this result goes and where price settles after the announcement. If you’re hoping the S&P 500 ($SPX) can get back to new highs, WMT needs to lead. Currently, the direction looks lower, but a test and hold of the 50-day SMA at the $91 level may be a better entry point as shares continue to consolidate below all-time highs and wait for more clarity on the tariff front.

Alibaba (BABA): A Wild Card

Alibaba faces a few big challenges as it heads into this week’s earnings. There are a couple of issues at play. 

First is the obvious tariff uncertainty that has clouded this market, although that looks to be heading down a path to certainty. The second is Alibaba’s AI investments. Its latest model, Qwen 2.5, is integrated into Apple’s iPhones sold in China. Seeing a push away from the American product, what impact will this have on BABA’s bottom line?

Let’s dive into the chart below.

FIGURE 3. DAILY CHART OF BABA. Technically, this stock has been all over the map. Trends change on a dime and tend to move quickly. To trade BABA, you should try to wait for bigger moves. This is why I’ve used Fibonacci retracement lines to coincide with larger consolidation areas and moving averages. 

As we head into the week, shares are in a bit of a no man’s land. There is minor support at the $118 area and major support at the 61.8% retracement level that coincides with the 200-day SMA around $102.

To the upside, resistance is up at the $143/$148 52-week high level. Amid trade deal negotiations, it may be better to watch the fundamental story unfold when trying to gauge BABA’s next move. The technicals are at a coin flip and appear to be turning lower. Given solid support levels, that is where it may be safer to add to or enter the stock. 

Final Thoughts

Earnings season isn’t just about catching the next hot stock. It’s about protecting what you’ve built while finding opportunities that fit your comfort with risk.

  • Under Armour could offer a short-term trade, but it’s speculative.
  • Walmart is a reliable bellwether, but its trend is uncertain.
  • Alibaba is full of potential, but comes with added complexity and volatility.

Always remember: there’s no need to chase every opportunity. Go after those that have a higher probability of meeting your investment goals.

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Investing

John Feneck: Key Gold, Silver Price Levels, 10+ Mining Stocks I’m Watching

Investing 1 Min Read

John Feneck, portfolio manager and consultant at Feneck Consulting, shares his updated outlook for gold and silver prices, outlining key support and resistance levels.

He also discusses precious metals and critical minerals stocks that he’s watching.

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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Investing

Web3 Leaders Gather in Toronto for Canada Crypto Week

Investing 3 Mins Read

From May 11 to 17, world leaders in blockchain will gather in Toronto for Canada Crypto Week, a series of events highlighting the evolution of digital finance and the Web3 economy.

In focus this year are deep dives into pressing topics like regulation, tokenization, decentralized finance (DeFi), the future of Web3 infrastructure and how artificial intelligence (AI) will transform the crypto landscape.

Also on the agenda is Canada’s growing role in the global crypto conversation.

These events will feature keynote speakers, regulatory panels and technology presentations from industry leaders at the forefront of innovation. Be sure to follow our updates this week as they unfold.

What to expect at Blockchain Futurist and Consensus

The Blockchain Futurist Conference will kick off with a virtual welcome from TRON founder Justin Sun and a panel on global Web3 regulation, with representatives from the Digital Chamber and Hong Kong Monetary Authority.

The morning agenda includes a presentation on tokenization by IHodlLife founder CEO Tristan Schroeder, and a fireside chat about Canada’s stablecoin landscape. In addition, Ethereum co-founder and Decentral founder Anthony Di Iorio will deliver a keynote address on the blockchain industry’s evolution.

Morning sessions at the Blockchain Futurist Conference will also cover security in crypto exchanges, token utility and Canadian regulatory perspectives, featuring representatives from Kraken and Convoy Finance.

Consensus, CoinDesk’s flagship blockchain and Web3 conference, will feature over 500 speakers, including notable figures such as Kevin O’Leary, Dave Portnoy and Coinbase Canada CEO Lucas Matheson.

Attendees can expect a diverse range of programming across multiple stages, covering topics like Bitcoin mining, AI integration and digital asset wealth management.

The conference will also host the CoinDesk PitchFest, showcasing early stage Web3 startups, and provide ample networking opportunities for professionals in the crypto and blockchain industries.

Key Canada Crypto Week topics

For investors, Canada Crypto Week is a snapshot of where the industry is headed and where opportunities may lie.

With regulators, entrepreneurs and developers sharing various stages, the events offer rare insight into how the rules, tools and infrastructure of tomorrow are being shaped today.

As institutional interest in crypto grows and traditional finance increasingly integrates blockchain solutions, conferences like these are becoming valuable barometers of market sentiment and direction.

Here are a few topics that will be highlighted:

1. Regulation

From both a domestic and international lens, regulation will be a central theme. Canada’s evolving approach of balancing innovation with consumer protection will be explored in depth.

2. Tokenization

As tokenization gains traction in everything from real estate to traditional securities, this year’s presentations will spotlight its practical applications and the tech needed to support mainstream adoption.

3. The Future of Web3

Blockchain Futurist will bring builders together to discuss what’s next for the decentralized internet, covering everything from scalability to mass adoption hurdles.

Stay tuned for our coverage

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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Investing

RUA GOLD Completes the Second Phase of Surface Exploration and Drill Targeting at the Glamorgan Project, New Zealand

Investing 13 Mins Read

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) (‘Rua Gold’ or the ‘Company’) is pleased to announce the completion of the second phase of surface exploration on its Glamorgan Project, an epithermal gold system in the Hauraki Goldfield, North Island, New Zealand.

The Hauraki Goldfield is a major epithermal gold province, with over 50 historic mines having produced more than 15 million ounces of gold. The Glamorgan Project lies adjacent to OceanaGold’s Wharekirauponga deposit, with Indicated Mineral Resources of 1.4Moz at 17.9 g/t Au and is scheduled to enter construction in the second half of 20251.

Highlights: 

  • The Company has completed its second phase of surface exploration, identified initial drill targets, and will submit its Access Agreement application at the end of May. 

  • Results indicate classic features of a major epithermal gold-silver system and are identical to the surface features of neighboring OceanaGold Project, Wharekirauponga. 

  • Four significant gold-arsenic soil anomalies trending north, north-east and north-northwest strike out individually over 4 kms in length. 

  • Rock chip samples containing up to 43 g/t Au highlight specific targets for evaluation, coincident with the intersection of two gold-arsenic soil anomalies. 

  • TerraSpec soil and clay mineralogy has identified a zonal clay distribution that reflects high-level epithermal alteration coincident with gold anomalism. 

  • Ground-based geophysics Controlled-source Audio-frequency Magnetotellurics (CSAMT) has identified three major resistive structures coincident with surface alteration and gold mineralization. These resistive structures may represent pervasive silica-quartz at depth – key criteria for targeting the drilling within a major epithermal gold system. 

  • All of the above results are being uploaded to the VRIFY AI-platform, where geological modelling is starting to assist in the systematic identification and ranking of drill targets.

Simon Henderson, COO of Rua Gold, commented: ‘This comprehensive, district-wide surface work has provided valuable new information, highlighting not just one, but three significant zones of potential mineralization for drill testing. These targets will be included in the Access Agreement for drilling, which is scheduled for submission at the end of May 2025.

Following detailed surface geological mapping, comprehensive soil geochemistry, specialist clay mineralogy, ultra-high resolution UAV magnetics, and proven depth-penetrating CSAMT geophysics, three significant zones have emerged as high-potential targets for drill testing. High-grade rock chip samples further support the potential to discover a major epithermal gold-silver vein system.

Results from this inaugural district-wide program are now streaming in and are being compiled, reviewed and actively prioritized in partnership with the VRIFY AI-platform to confirm and prioritize the drill program. The exploration team is excited to advance to the drilling phase of this unique and prospective target area.’

Program Overview

Exploration activities – including extensive geological mapping, TerraSpec clay mineralogy, and ultra detailed magnetic and resistivity surveys – have focused on four major alteration cells that envelope these structures. These cells are directly associated with surface quartz veins, platy quartz after calcite, quartz-adularia minerals, and sinter-like textures, all indicative of the high levels of an epithermal gold-silver system.

The principle components of the surface work are detailed below.

Geological Mapping

Exploration in the first quarter of 2025 included the completion of geological mapping across the major drainages within the Glamorgan prospect, along with detailed examination of areas exhibiting intense alteration and mineralization identified in Stage 1. The Company also completed follow-up testing of the significant gold grades (8-43.1 g/t Au) previously reported in rock float and insitu rock samples (reported on January 25, 2025). Additional rock chip sampling (2-8 g/t Au) has identified key areas proximal to resistive zones and high-level clay alteration.

Figure 1: Geological map of the Glamorgan area.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/251889_b730bbc864e0bb2d_017full.jpg

TerraSpec Clay Mineralogy

A TerraSpec 4 High-Res portable spectrometer was used to analyze all soil and rock-chip samples, as well as available historical drill core. The hyperspectral reflectance data collected were interpreted using the cloud-based AI software program, aiSIRIS.

  • Anomaly A trends north-northwest for 4.2 kms with conjugate gold-arsenic trends extending in a northeast direction (Anomalies C and D). Montmorillonite clays mirror this anomaly, indicating strong structural control on fluid flow along this trend.

  • Anomaly B trends northerly, following north to northeasterly quartz veins mapped over 4 kms that remain open to the north and south. The southern end of this anomaly coincides with historical mine workings. This anomaly is highlighted by strong illite clay alteration enveloping quartz-calcite veins observed in mapping.

  • Anomalies C and D trend northeast, parallel to insitu quartz veining in the Phoenix Stream (Anomaly C), and silica-clay alteration along Wires Ridge (Anomaly D) (Figure 2).

Figure 2: Arsenic-Gold soil geochemistry with strong anomalies outlined.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/251889_b730bbc864e0bb2d_023full.jpg

Magnetics
Ultra detailed UAV magnetics flown by the Rua Gold team highlight strong alteration (de-magnetization of the host rocks) enveloping the four anomalies and demonstrating a major alteration cell indicative of a significant epithermal system.

Resistivity
A CSAMT survey was completed in February 2025 by the Rua Gold team. CSAMT is particularly effective at detecting ground resistivities to depths of several hundred meters, which can be interpreted to represent strong silicification and quartz veining when directly related to an area of intense alteration.

The survey identified several major, deep structures that align with features previously identified by UAV magnetics, gold-arsenic geochemistry anomalies, and mapped quartz veins, silicification and clay alteration (Figure 3).

Figure 3: CSAMT and IP resistivity results.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/251889_b730bbc864e0bb2d_028full.jpg

Glamorgan Exploration Overview

Following grant of a drone concessions in May 2024, and minimum impact exploration in July 2024, Rua Gold’s exploration commenced with UAV ultra detailed magnetic surveying completing 590-line kms of flying using Geometrics MagArrow magnetometer suspended under a DJI M300 drone. Interpretation of the data has assisted in defining key aspects of lithology and alteration of the Whitianga Group rhyolites, and Coromandel Group andesites. Major structural elements are interpreted in the data aligning with regional mineralization trends.

Soil sampling commenced in July 2024 sampling along 250m spaced crosslines with a sample spacing of 20m. 3181 samples were collected, dried, sieved in Rua Gold’s Waihi facility, then transported to Reefton for pXRF analysis. Each sample was also scanned using a TerraSpec 4 Hi-Res mineral analyzer to complete a picture of clay/alteration system enabling identification of the higher levels of the epithermal system. 50gms of soil was then freighted to ALS Brisbane for low-level precision gold assay. Arsenic anomalism with coincident gold anomalism highlights the four major soil anomalies A-D (Figure 2).

Anomaly A trends North north-west for 4.2 kms with conjugate gold-arsenic trends in a north-east direction. This anomaly remains open to the northeast. This north-east direction mirrors the orientation of the significant Wharekirauponga gold deposit 3 kms southeast of the Glamorgan permit.

Anomaly B trends northerly and follows north to northeasterly quartz veins mapped over 4 kms and open to the north and south. The southern end of this anomaly coincides with the Wentworth/Auckland historical mine workings.

Ultra detailed UAV magnetics flown by the Rua Gold team highlights strong alteration (de-magnetization of the host rocks) enveloping the two anomalies and demonstrating a major alteration cell indicative of the footprint of a major epithermal system.

Field mapping (ongoing) has highlighted broad alteration and veining in situ, and areas of quartz-adularia float displaying banded, platy quartz after calcite, and brecciated andesite with stockwork veining increasing toward the zones of interest. Rock sampling both float and in situ sampling has returned encouragingly anomalous gold (refer to Table 2 in the appendix below), coincident with the zones of high soil geochemistry.

Figure 4: Location map with soil geochemical heatmap over the Wires area

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/251889_b730bbc864e0bb2d_036full.jpg

ABOUT Rua Gold

Rua Gold is an exploration company, strategically focused on New Zealand. With decades of expertise, our team has successfully taken major discoveries into producing world-class mines across multiple continents. The team is now focused on maximizing the asset potential of Rua Gold’s two highly prospective high-grade gold projects.

The Company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand’s South Island with over 120,000 hectares of tenements, in a district that historically produced over 2Moz of gold grading between 9 and 50g/t.

The Company’s Glamorgan Project solidifies Rua Gold’s position as a leading high-grade gold explorer on New Zealand’s North Island. This highly prospective project is located within the North Islands’ Hauraki District, a region that has produced an impressive 15Moz of gold and 60Moz of silver. Glamorgan is adjacent to OceanaGold Corporation’s biggest gold mining project, Wharekirauponga.

For further information, please refer to the Company’s disclosure record on SEDAR+ at www.sedarplus.ca.

TECHNICAL INFORMATION

Simon Henderson CP, AUSIMM, a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects and Chief Operating Officer and a director of Rua Gold, has reviewed and approved the technical disclosure contained herein. Mr. Henderson has participated in the geophysical, sampling, and mapping programs to verify that they have been conducted in accordance with the standard operating procedures. Mr. Henderson has verified the data disclosed by running checks on the location, analytical, and test data underlying the information in the technical disclosure herein.

QA/QC SOIL SAMPLES

A bulk sample of ~0.5-1 kg was collected in the field. Each sample was photographed in the field alongside the GPS with coordinates visible and each sample site marked in the field with biodegradable flagging tape. Samples were taken back to Rua Gold’s Waihi facility for preparation. Samples were dried in a customized incubator, set at 38°C, for a minimum of two days. Once the samples were fully dried, they were sieved to

The 50-100-g fine-sieved (Rua Gold’s Reefton facility for pXRF using an Olympus Vanta hand-held analyser, and then on to ALS Geochemistry, Brisbane, for Au-TL43 analysis. The ALS analysis consisted of 25-g sample digestion by aqua regia, followed by trace Au analysis by ICP-MS. The detection limit for Au by this method is 1ppb. ALS Brisbane is independent to Rua Gold.

Field duplicates were collected every 20th sample and underwent the same drying, sieving, pXRF, and gold assay process outlined above. Duplicates were checked and validated by Rua Gold’s Isogonal data validation system to ensure compliance.

QA/QC ROCK-CHIP SAMPLES

Rock-chip samples were collected in the field during routine mapping and soil sampling. The location of each sample was recorded in the field with a Garmin GPSMAP 66i and details of the samples recorded in a notebook or mapping application. Samples were photographed and sent to SGS Waihi for sample preparation. Sample information was entered into .csv files and uploaded to an SQL database.

Samples were crushed to 75% passing 2 mm (SGS code CRU75) and pulverised to 85% passing 75 µm (SGS code PUL85_CR). The pulverised rock-chips were split into two samples: a ~50 g sent for laboratory analysis, and the reject returned to Rua Gold for pXRF analysis and storage.

The 50 g sub-samples were analysed by AAS after fire assay at SGS Waihi (SGS code FAA505). Detection values for this method are 0.01-100 ppm Au.

SGS is independent to Rua Gold and its laboratories are accredited to applicable ISO/IEC 17025 standards.

Rua Gold Contact

Robert Eckford
Chief Executive Officer
Tel: +1 604 655 7354
Email: reckford@RUAGOLD.com
Website: www.RUAGOLD.com

This news release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur and specifically include statements regarding: the Company’s strategies, expectations, planned operations or future actions, including but not limited to exploration programs at its Reefton project and the results thereof; and the Company’s acquisition of Reefton Resources Pty Limited. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.

Investors are cautioned that any such forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. A variety of inherent risks, uncertainties and factors, many of which are beyond the Company’s control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward-looking statements. Some of these risks, uncertainties and factors include: general business, economic, competitive, political and social uncertainties; risks related to the effects of the Russia-Ukraine war; risks related to climate change; operational risks in exploration, delays or changes in plans with respect to exploration projects or capital expenditures; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; changes in labour costs and other costs and expenses or equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, including but not limited to environmental hazards, flooding or unfavourable operating conditions and losses, insurrection or war, delays in obtaining governmental approvals or financing, and commodity prices. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements and reference should also be made to the Company’s CSE Form 2A – Listing Statement filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors.

This news release references projects near to the Glamorgan Project and historical production from certain areas of New Zealand. Mineralization on nearby projects is not necessarily indicative of mineralization on the Glamorgan Project. Historical production from the Reefton Gold District or the Hauraki District is not an necessarily an indication that significant production will be possible from the Glamorgan Project.

Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change

Table 1: Significant gold and arsenic assay results from soil samples.

Sample ID Easting_NZTM Northing_NZTM Au (ppm) As (ppm)
WR10019 1846387 5875239 0.66 1052
WR18022 1845455 5873468 0.28 15
WR14016 1845843 5874398 0.26 36
WR05107 1848533 5875462 0.26 367
WR07134 1848758 5874761 0.26 26
WR06119 1848620 5875127 0.22 487
WR15027 1845911 5874072 0.19 119
WR11057 1846925 5874648 0.18 398
WR10018 1846369 5875249 0.18 353
WR09143 1848669 5874237 0.17 241
WR04109 1848691 5875660 0.14 1391
WR10019 1846387 5875239 0.66 1052
WR04111 1848726 5875641 0.06 954
WR04110 1848709 5875650 0.05 922
WR01116 1849182 5876244 0.10 896
WR16124 1847478 5872900 0.05 877
WR15118 1847496 5873177 0.12 857
WR11048 1846769 5874736 0.03 784
WR10033 1846630 5875102 0.06 772
WR15149 1848036 5872872 0.02 607

 

Table 2: Significant assay results from rock-chip samples.

Sample ID Location Type Easting_NZTM Northing_NZTM Au (ppm)
GERS1666 Sutcliff Stream Float 1847056 5874959 8.25
GERS1669 Sutcliff Stream Float 1847092 5875111 7.15
GERS1661 Sutcliff Stream Float 1846787 5874763 4.37
GERS1663 Sutcliff Stream Float 1846916 5874785 3.95
GERS1667 Sutcliff Stream Float 1847113 5875120 2.46

 

1 See OceanaGold’s news release dated February 19, 2025, for more information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251889

News Provided by Newsfile via QuoteMedia

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Investing

Murchison South Increases to 67koz Gold Across Two Pits

Investing 2 Mins Read

Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to announce the completion of a new Mineral Resource Estimate (MRE) for the Pansy Pit deposit at its Murchison South Gold Project. The estimate, prepared by independent consultants Mining Plus, reported above a cut-off grade of 0.5g/t Au, confirms a near-surface inferred resource of 72kt @ 2.5g/t Au for 5,800 oz. This adds to the existing 61,300 oz gold resource at the nearby Blue Heaven deposit, bringing the total gold resource inventory at Murchison South to approximately 67,100 oz.

HIGHLIGHTS

  • Pansy Pit: Mining Plus confirms Mineral Resource Estimate (MRE) for the Pansy Pit Deposit at Murchison South:
    From Surface 72kt @ 2.5g/t Au for 5,800 oz Gold (Table 1)
  • Blue Heaven and Pansy Pit MRE, together total ~67,100 oz Gold
  • Pansy Pit MRE is based solely on review by Mining Plus of historical drilling
  • Historical drilling was only to 60m, mineralisation open at depth and along strike north and south (Figure 2)
  • The Pansy Pit has the potential to be a shallow, open pit mining operation, with mineralisation observed from surface
  • The Pansy Pit sits within granted Mining lease M59/662 and is just over 2km from the Company’s Blue Heaven deposit and on the south side of the Great Northern Highway (Figure 3)
  • The Pansy Pit provides evidence of the expansion potential along the Primrose Fault, notably to the south at the Shamrock deposit and to the north at the Pansy North and Jacamar deposits (Figure 3)

The Pansy Pit MRE is shown in Table 1 on page 3.

Click here for the full ASX Release

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Rae Copper Project delivers further high-grade mineralisation with 63m @ 2.23% Copper

Investing 3 Mins Read

White Cliff Minerals Limited (“WCN” or the “Company”) (ASX: WCN; OTCQB: WCMLF) is pleased to announce further assay results from the recent reverse circulation drilling campaign at the Company’s 100% owned Rae Copper Project in Nunavut, Canada.

  • Further assays from Danvers confirm a shallow, high grade copper system that remains open at depth and along strike
  • Drilling continues to prove, previously unknown and untested, extensions to high grade mineralisation
  • Highlights from DAN25002:
    • 63m @ 2.23% Cu & 7.1g/t silver (Ag) from 9.14m, including a high-grade intercept of 15m @ 5% Cu & 16.9g/t Ag from 18.29m
  • DAN25004 returned two significant copper intervals:
    • 38m @ 1% Cu & 1.89g/t Ag from 7.62m, and
    • 72m @ 1.08% Cu & 4.22g/t Ag from 62.48m, including a high-grade intercept of 14m @ 2.32% Cu from 106.68m
  • Pre collar drilling at Hulk is complete, ready for an upcoming diamond drilling campaign
  • The Company is advancing discussions with its contracting partners to undertake targeted airborne geophysical surveys at Danvers across the 9.1km target fault zone and to also utilise the proven down hole electromagnetic survey across the broader Rae project which will support and help target these future campaigns
  • Further assays to come pending release from the laboratory

“Assays from Rae continue to exceed expectations: 175m @ 2.5% Cu, 58m @ 3.08% Cu, 52m @ 1.16% Cu and now further significant intercepts of 63m @ 2.23% Cu and 72m @ 1.08%. These high-grade intercepts from surface are rare in the exploration world as explorers over recent times have had to go deeper and deeper to identify additional copper resources.

Being the first mover into this highly prospective location, after more than a decade of inactivity due to political constraints – securing the licences organically and now having undertaken our first drill program, positions us well both for future work programmes and facilitate further discoveries.

We are not surprised by the increased attention into the broader region by many players. Infrastructure enhancements at Yellowknife and increased activity along the north-west passage provide far easier access than in previous decades when the last serious exploration was undertaken.

More recently we have seen increased state and federal conversations around road and port infrastructure development in this area to support regional development. Logistics that will positively impact the Rae Project. Given the project area is less than 80km by road to the deep-water port of Kugluktuk, these results will surely focus the spotlight on the development opportunities and benefits to the local and regional stakeholders.

The Rae Project area has the potential to help meet the global production void through proper systematic assessment of this underexplored copper landholding and we continue to look forward to updating shareholders with the next round of results as they come to hand over the coming weeks.”

Troy Whittaker – Managing Director

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NBA fan reaction to draft lottery: Tin foil hats out in full force

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Lottery luck or shady backroom dealing?

When it comes to the NBA draft lottery, opinions are all over the spectrum. The 2025 NBA Draft is all about Duke star Cooper Flagg, who is the crown jewel of the class.

The Utah Jazz, Washington Wizards, Charlotte Hornets and many more were hoping for the chance to alter the course of their franchise if the lottery went that way.

Instead, the tinfoil hats were out in full force moments after the Dallas Mavericks were given the honor to make the first selection June’s draft.

The NBA has been using a lottery format to determine their draft order since it was installed in 1985. Ahead of the 2019 lottery, the format was changed to the odds system in the hopes that it would discourage tanking. In a way, it has done the exact opposite.

This year’s lottery was filled with many non-competitive teams that chose to ‘load manage’ their way through a season with the idea that it would give them a few extra percentage points. None of them, much like last year when the Atlanta Hawks won, will pick at No. 1.

In fact, the team with the worst record has yet to make the first selection since the format changed.

Just months after dealing Luka Doncic to the Los Angeles Lakers in one of the most controversial trades in NBA history, Dallas took advantage of its 1.8% odds to bring Flagg to the Lone Star State. In other words, you’re saying there’s a chance.

Bottom line, fans were not pleased with the outcome and didn’t waste time in sharing those thoughts on social media. Here’s a look at the reaction.

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